Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JayJuanGee]

Do you guys remember the ramblings of many newbies here and on reddit, twitter, etc. that the halving was priced in? Since then the price went from 6-7K to $11 700!

Happens every time, NOCOINERS, people who sold everything too early years ago, bitter noobs with a low stash. It’s just jealousy, not wanting to see other people do well. Say anything enough times & you might convince yourself that you’re right.

I do tend to agree with a large part of what you are asserting here, LFC, but surely there is a lot more going on with nocoiners than pure bitterness - because there are likely a lot of nocoiners who just don't realize that they are precoiners or they have not been properly introduced to bitcoin or have not been sufficiently enlightened to the actual raison d'être of bitcoin.

I understand that we could get into technical or semantical arguments regarding the difference between a nocoiner and a precoiner, yet I doubt that we would be making much progress to attempt to pigeon-hole either of these categories of potential bitcoin adopters.

I guess what I am speculating is that in 2-3 years or maybe even 5 years, we are going to have a large number of new bitcoin adopters who had been in both categories, and probably even a certain number of them are going to have selectively forgotten why they had previously been so hostile to bitcoin, and even arguing why they are more OG than some other bitcoin adopter, including some of us who are likely objectively way the fuck more OG than them.

In the end, probably it does not matter too much regarding which bitcoiner is MOAR OG than the next, and surely some bitcoiners will either have great advantages in terms of having had been able to go from rags to riches because they had accumulated their bitcoins really early or that they had persistently continued to attempt to accumulate bitcoin (even while making lots of mistakes along the way) and strung together a decent BTC position through many years of struggle and sacrifice, and likely some other later adopter bitcoiners might have just converted (or become enlightened towards bitcoin) at some later point in time in which they are able to move the silver spoon from their mouth into some other pot, such as the bitcoin/kingdaddy pot.

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[goldkingcoiner]

We are either going to bounce off at 13.3k or 15.7k. Can't wait for the retesting of 10k. Thats going to be the final support test before launch to new ATH, I believe.

[Krubster]

€ 10k will be a barrier. It has been a hard one to break in the past. It’s sitting at €9910 right now, I expect a slowing down of this nice little pump. I would be happy to be wrong.

We just broke €10k!



Let's hope we can stay above it this time.

[LFC_Bitcoin]

We are either going to bounce off at 13.3k or 15.7k. Can't wait for the retesting of 10k. Thats going to be the final support test before launch to new ATH, I believe.

[JayJuanGee]

That case could and would allow for a crazy jump in price. I better hodl till 2021 no matter what.

 

There are a lot of scenarios in which there could be a crazy jump in BTC price, so good thing that you are HODLing rather than acting upon your seemingly weak assessment of how wealth redistribution is likely to play out in the coming years.

at bitserve  see how many hold 1000.  if it is smaller by far maybe the crazy number happens.

In the past, there have been various threads on the topic of coin/wealth distribution, and I did a quick perusal through my BTCTalk thread watchlist, and I found the below ones that might be kind of on such topic.  

The below-linked threads have not been updated recently, so there might be some better or more recent ones, too.

1) Distribution of bitcoin wealth by owner

2) I am pretty confident we are the new wealthy elite, gentlemen.

3)  Who are the richest Bitcoin users and how much do they own?

4) Do you think Institutions secretly HODL Bitcoin?

[edited out]

This is so fun I read it 3 times.  I have NO IDEA what you are talking about though.

yeah glad im not the only one.. i read it several times too with glazed eyes. but i wouldnt be so quick to dismiss philip as he called the 2017 blow off top pretty accurately iirc.

but i too wonder why billionaires would worry about new guys entering the club. after all as long as they still have 99% of the people who are still poor to step on i wouldnt think they would really care. old money peeps are snobs anyway, new peeps to the billionaire club are looked on as (relative) peons by them.

or perhaps im still misunderstanding lol

I recognize that I did bash on Phillip a bit in my earlier post, and I did not really mean any of that in any kind of personal way in regards to Phillip...

Surely, in some of his subsequent posts that I did not acknowledge within my response post, Phillip did mention that he was not completely attached to some of the ideas that he was exploring in his post, including clearly providing some "outs" for himself in terms of both asserting that he was just throwing around some ideas that he had and even acknowledging some decent chances that "he could be wrong."

[JimboToronto]

We already have laws to address such situations but my country is abolitionist so the death-penalty is a non-starter.  In saying that, we might have been the first country to execute a person for failing to wear a mask.
https://nationalpost.com/news/senior-haliburton-resident-who-refused-to-wear-mask-at-store-was-shot-dead-in-altercation-with-ontario-police

Actually, he was shot for being a violent criminal. What I found amusing was the spin put on it by some in the comments section:

This man, who survived for 73 years, avoiding many of the mortal dangers and pitfalls that lay around every corner through life, believing that taking a risk was his decision to make, is taken down by the nanny state because he refused to accept they had arbitrarily assumed responsibility for his personal safety.

Apparently when the cops rolled up to his home, this long living former law abiding citizen pulled a gun on them, setting in motion a "death by cop" scenario, because that was the hill he decided to die on, fighting for his right to decide.

What I see is the store owner protecting herself, her employees, and her customers by deciding to keep her private property safe from people refusing to wear masks. It has nothing to do with "the nanny state" and everything to do with private property rights.

When someone trespasses and resorts to violence, it becomes a police matter.  That's the only state intervention... law enforcement.

Perhaps the commenter is a communist who thinks her store is public property and she has no right to decide what to do with it.

[cAPSLOCK]

Zoom

This should be framed...  It defines what we are rolling into.

[cAPSLOCK]

So my loop in transaction that I accidentally set to a 1sat/k fee is not likely to get mined anytime soon, is it?

[JayJuanGee]

Politics has nothing to do with it, or at least it shouldn't. Mask wearing is a medical issue, not a political one. Why do some people try to turn everything into some right-wing versus left-wing partisan political debate?

Probably because their henchman leader believes that his winning strategy is to create as much chaos and division as he can, so for some reason even if some peeps proclaim that they do not agree with the henchman leader, they still find it convenient to spout out the same anti-science, anti-fact misleading bullshit that he spouts out.., even while many of them believe that orange man is a ridiculous compulsive liar, they still find it convenient to believe that he is not lying from time to time when it suits their fantasy wishes.

 

[LFC_Bitcoin]

So my loop in transaction that I accidentally set to a 1sat/k fee is not likely to get mined anytime soon, is it?

Could take 48 hours.
Maybe as it’s Sunday tomo you’ll get lucky. Current recommended fee is 9 sat/byte.

Post the transaction id, I’ll see if I can run it through via bitcoin’s free accelerator.

[JayJuanGee]

It looks like this next bull run has well and truly started.
I have been HODLing pretty much most of my corn over the last 6 years apart from a small sell off back in early 2018.
I am now thinking about my next steps to ensure my retirement and to increase my BTC stash to leave as a legacy for my children.
My plan is to cash a small amount out somewhere between 40 to 100K to retire on.
I was thinking that I would continue to HODL 25% of my corn and begin to sell about 75% into a stablecoin backed by gold or some other fairly stable asset (PAXG perhaps?)
Then spread the PAXG over several lending platforms and earn interest while the price of bitcoin takes its natural course back through the next bear cycle (late 2022??).
Once we bottom out and begin the next upward trend after the next halving the plan is to buy back in with PAXG or whatever stablecoin would work.
The reason for using a stablecoin is twofold
1) Receive high interest yield on lending platforms
2) Avoid paying large Capital Gains taxes.

I was interested in my WO bretheren's thoughts on this.
So what do you guys think?

I would think that making sure that whatever purported stable coin you get into is actually secure is more important than any kind of yield farming that might exist with some of those... .. You would not want your cashing out attempts to play the BIG swings to end up with you being a victim of an exit scam.

......
My plan is to cash a small amount out somewhere between 40 to 100K to retire on.....

First, I will assume you mean 40K to 100K yearly?

Seems to me that machasm was merely proposing that he was planning to be cashing out up to 75%, perhaps, of his BTC, once BTC gets within the $40k to $100k price range... and he had not really specified how much cashing out that would amount to, but that he was suggesting that within that BTC price range of $40k to $100k it would be sufficient enough for him to retire, to prepare for buying back and to provide a legacy for his heirs (something like that - maybe a bit of an overachiever, perhaps?).

[philipma1957]

@winklevoss
Not owning #Bitcoin  today will be a worse investment decision than not investing in $APPL, $GOOG, $AMZN, and $MSFT in the early 2000's.
https://twitter.com/winklevoss/status/1289598198760185856?s=21

Yeah We can all agree on this.


This bull run will be nice maybe we go to 50k by nov 1.

 Just hope Trump keeps cranking up the Fud about the election.

I think we will do fine.

I have no plans to sell.

Other then if Doge hits 1 dollar.😀

[podyx]

It DOES feel like this is the start of something...

[d_eddie]

11.8k and counting
soon I'll be able to replace my hat? 

[Biodom]

if we go to $50K by Nov1, Robinhood traders will go green with envy and will demand that btc is traded on the platform.
Imagine what millions of angry customers can do, lol.

[El duderino_]

[sirazimuth]

Other then if <censored> hits 1 dollar.😀

Hey no shitcoinery talk bro.
Else Jay will meme bat-slap you upside the head.
Followed by lots of words...

[infofront]

... around $2million networth more objectively brings any guy to fuck you status because it allows for a passive income of about $6,666 per month...

That's assuming a return of 4% p.a. That's reasonable but I'm interested to learn through which means you would look to achieve that? Typical fiat account interest? Loaning btc? Something else?

A traditional, conservative stock-based portfolio historically averages something like 6-7% annually.

[JimboToronto]

Other then if <censored> hits 1 dollar.😀

Hey no shitcoinery talk bro.
Else Jay will meme bat-slap you upside the head.
Followed by lots of words...

Very meme. Much humorous.

[Toxic2040]

#stronghands