600watt
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The world seems to be in such a poor shape... we can't really have ANY expectations regarding long-term passive income. The big reset in coming.
You could buy property and generate a residual rental income - but only if your tenants continue to pay you. You could buy land and become self sufficient in energy and food - but only until someone comes along with more guns than you and takes it from you. But then you enter into territory for which there is no preparation, I suppose. Makes me think of that movie "The Road". Which begs the question: which is better for the average pleb - a world run by bankers or a Mad Max world? (accepting that some parts of the world are already suffering both). The work of bankers in one part of the world is directly connected to the Mad Max in other parts. BUT before we all shed our cultural pessimism crocodile tears - overall it is not all going down the drain. The opposite is true: all parameters that measure poverty and violence indicate that humankind is making progress. Don’t get overwhelmed by media attention focusing on only catastrophic news. More folks have escaped poverty and experience less violence than ever before in history. Corona is a major setback. The fiat collapse will be another. But there is no zombie apocalypse waiting around the corner.
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cAPSLOCK
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August 01, 2020, 07:19:43 PM |
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Just a short note: Bitcoin price didn't dump just before CME futures contract expiration date and i'm very happy about that. This is, only for myself, the confirmation that we're at the start of the next bull cycle. @JJG: Maybe you should cancel your cancellation of hookers, blow and lambos now Agreed. I was looking forward to this being how it turned out for the same reason... the big money knows they can splash around and ring money out of their new bitcoin toy when all is relatively quiet on the water so to speak, but they're also realizing it becomes dangerous to stand on the shoreline when the storm surge might be about to hit. I would love to see the institutional manipulators get creamed, but the fact is they are just too smart for that. Most of them will ride this thing up with us. And *that*, I think is one of the reasons I think there is a small chance we see some differences in this cycle. Not enough of them knew what BTC cycles were the first 2 (3) times. I mean most of us were just lucky to be there to watch those ourselves. But if you read that Fidelity piece there is a growing number of people who most likely control a LOT of funds that TODAY are drinking their espressos and saying the same thing to each other that *we* are: "You know... this could be the big one".
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Toxic2040
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August 01, 2020, 07:28:48 PM |
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the noon wall report Bitcoin is currently trading above $11.7k on rising volume and finds itself in a relatively unique position where it has broken through previous resistance zones and has little but open air between it and the low teen's. The heavy 'shoulders' in 2018 and 2019 of this resistance are highlighted in the lower zoom chart. The only other resistance between us and a new ATH imho is in the $14k-15kish range shown by the ichimoku ATH daily cloud 'twist' in early 2018. medium and short fibs 4h long and short fibs D Zoom
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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August 01, 2020, 07:30:34 PM |
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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
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August 01, 2020, 07:32:23 PM |
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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.
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Krubster
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August 01, 2020, 07:33:30 PM |
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€ 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.
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LFC_Bitcoin
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August 01, 2020, 07:36:30 PM |
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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.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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August 01, 2020, 07:38:36 PM |
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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 owner2) 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."
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JimboToronto
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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.
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cAPSLOCK
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August 01, 2020, 07:59:24 PM |
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Zoom This should be framed... It defines what we are rolling into.
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cAPSLOCK
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August 01, 2020, 08:03:15 PM |
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So my loop in transaction that I accidentally set to a 1sat/k fee is not likely to get mined anytime soon, is it?
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JayJuanGee
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August 01, 2020, 08:12:56 PM |
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LFC_Bitcoin
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August 01, 2020, 08:14:52 PM |
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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.
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JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"
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August 01, 2020, 08:18:36 PM |
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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?).
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philipma1957
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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.😀
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podyx
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August 01, 2020, 08:33:16 PM |
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It DOES feel like this is the start of something...
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d_eddie
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August 01, 2020, 08:57:42 PM |
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11.8k and counting soon I'll be able to replace my hat?
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Biodom
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August 01, 2020, 08:57:56 PM |
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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.
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