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

[bitserve]

Regarding frugality: once you go frugal, it is difficult to come back...everything looks darn expensive, causing buyer's remorse.
On the other hand, giving descendants a 50-100 year rein in luxury-why bother? Nothing productive comes out of it, typically.

As for how much to pass on to your kids, Warren Buffett once offered a good rule of thumb: the perfect amount to leave to your kids, he told Fortune in 1986, is "enough money so that they would feel they could do anything, but not so much that they could do nothing."

Source: CNBC Make It

Which is a stupid statement/decision btw. I mean, If I were given a few million dollars without having ever made any effort maybe I would probably just settle on that and just do nothing but "live comfortably". But... if I were given one of the biggest fortunes in the world, I would probably focus on both trying to be the #1 and change the world for the better. YMMV.

He should better focus on educating their heirs to go on with his "project" when he is gone than just thinking about how much resources he should left them as if that was more important than the former. Or put rules on the usage of those resources.

That being said, it will be nice if he leaves the most of it to charity....

[1713564510]

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[1713564510]

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[True Myth]

Regarding frugality: once you go frugal, it is difficult to come back...everything looks darn expensive, causing buyer's remorse.
On the other hand, giving descendants a 50-100 year rein in luxury-why bother? Nothing productive comes out of it, typically.

As for how much to pass on to your kids, Warren Buffett once offered a good rule of thumb: the perfect amount to leave to your kids, he told Fortune in 1986, is "enough money so that they would feel they could do anything, but not so much that they could do nothing."

Source: CNBC Make It

Which is a stupid statement/decision btw. I mean, If I were given a few million dollars without having ever made any effort maybe I would probably just settle on that and just do nothing but "live comfortably". But... if I were given one of the biggest fortunes in the world, I would probably focus on both trying to be the #1 and change the world for the better. YMMV.

He should better focus on educating their heirs to go on with his "project" when he is gone than just thinking about how much resources he should left them as if that was more important than the former.

That being said, it will be nice if he leaves the most of it to charity....

I always liked the idea of being "a well off person" and being able to leave a large amount of money for my kids in a special account.  They wouldn't know about it until they were maybe 35.  The hope is that they would spend the first 35 years of their life working and grinding through this thing called life.  After gaining access to life changing money at 35 they would then know what it is like to live without it therefore, creating a deeper meaning and understanding of the windfall.  At least in theory...

[dragonvslinux]

wonder what price ill wake up to. might have to break my tradition of not checking the price till after ive caught up on the WO.

well apparently i was rich when i started reading the WO this morning (5 pages behind or so) but by the time i caught up and actually checked the price im poor again. maybe rich by noon?

I try and skim over pages personally, just stopped off to look at the odd graph and read a comment that interests me. Otherwise, I lose too much money with the current volitility

Where are all the rockets in this thread that were promised? 

I thought we made new ATH on all exchanges today? Disappointed.

Waiting for $20k - ATH was too easy.

Damn you're right, it was $20K for the rockets I remember now. I guess that makes sense. An ATH without $20K does seem a bit lacking.

[bitserve]

Regarding frugality: once you go frugal, it is difficult to come back...everything looks darn expensive, causing buyer's remorse.
On the other hand, giving descendants a 50-100 year rein in luxury-why bother? Nothing productive comes out of it, typically.

As for how much to pass on to your kids, Warren Buffett once offered a good rule of thumb: the perfect amount to leave to your kids, he told Fortune in 1986, is "enough money so that they would feel they could do anything, but not so much that they could do nothing."

Source: CNBC Make It

Which is a stupid statement/decision btw. I mean, If I were given a few million dollars without having ever made any effort maybe I would probably just settle on that and just do nothing but "live comfortably". But... if I were given one of the biggest fortunes in the world, I would probably focus on both trying to be the #1 and change the world for the better. YMMV.

He should better focus on educating their heirs to go on with his "project" when he is gone than just thinking about how much resources he should left them as if that was more important than the former.

That being said, it will be nice if he leaves the most of it to charity....

I always liked the idea of being "a well off person" and being able to leave a large amount of money for my kids in a special account.  They wouldn't know about it until they were maybe 35.  The hope is that they would spend the first 35 years of their life working and grinding through this thing called life.  After gaining access to life changing money at 35 they would then know what it is like to live without it therefore, creating a deeper meaning and understanding of the windfall.  At least in theory...

Not sure if 35 years has any meaning, or maybe 20, or it depends, or whatever. It's all just factors. Also not sure if it would be better if they knew or not. Maybe by the time they reach 35 they have been so burned by life that it wouldn't make any difference.... but merit for at least having had some thoughts about it. It's surely a very complex thing and probably there's no better or right thing. Surely one subject where every Mileage Might Vary, and even then no certaintity.

[Lambie Slayer]

https://www.bloomberg.com/opinion/articles/2020-11-29/bitcoin-and-china-are-winning-the-covid-19-monetary-revolution

Financial journalists, too, are capitulating: On Tuesday, the Financial Times’s Izabella Kaminska, a long-time cryptocurrency skeptic, conceded that Bitcoin had a valid use-case as a hedge against a dystopian future “in which the world slips towards authoritarianism and civil liberties cannot be taken for granted.” She is on to something there, as we shall see.

LOL. I bet she finally bought some. Stolfi will buy in soon too.

[OutOfMemory]

Think about what you really want and what makes you truly happy .

To not die; to not age; to experience continuous growth (not in the pituitary gland/gigantism way...)

Don't do things to make others happy

Each to their own, but that sounds FU.

Guess he meant
"Don't do things only to make others happy".
Which is just a little better, on a second thought.

[gembitz]

BITCRON HAZ LEGZZZ TO 50K!!Kaboom!!:-D weee

[cAPSLOCK]

It was just about this point in the last cycle that we were hoping to breech 1k again.  Just 4 years ago.  Actually less.

Later in the last cycle 1k CANDLES we a thing.

In this cycle we are looking to breech 20k this time.

Can you imagine 20k candles?

[Wekkel]

I take as default scenario that Bitcoin will longer around these levels for a while while indicators cool off a bit. And then, after a few weeks of rest and pounding the bottom range, a decisive break upwards.

That does not mean that ATH won’t be breached in the meantime.

I am saying so because from a technical perspective the momentum indicators are starting to show fatigue.

But on the other hand: Bitcoin tends to surprise us. Big Time 

[gembitz]

It was just about this point in the last cycle that we were hoping to breech 1k again.  Just 4 years ago.  Actually less.

Later in the last cycle 1k CANDLES we a thing.

In this cycle we are looking to breech 20k this time.

Can you imagine 20k candles?

/\BTC x 10 bagger ===> 100k - 200k easy hodl gentlemen

[AlcoHoDL]

Just received this email from Kraken:

Hi {my first name},

A $250,000 Bitcoin in 2021?

Excitement is in the air, prices recently hit all-time highs and our latest Kraken VIP sentiment survey reflects the many ways professionals are thinking about how the cryptocurrency sector might evolve in the year ahead.

In the new survey, Kraken VIPs – a diverse mix of brokers, custodians, family offices, hedge funds, market makers, miners and traders – share their insight into the state of the market heading into 2021 for any investor seeking an edge.

Indeed, while prominent funds and investors like Michael Saylor and Paul Tudor Jones have made bullish bets on bitcoin in recent months, that’s not all that is exciting our VIPs.

By downloading Kraken Intelligence’s latest report, you’ll gain insights into their preferred price targets, investment convictions and general sentiment on the state of the market.

We explore:

[... removed altcoin talk ...]

Optimism Ahead – Institutional adoption is driving bullish sentiment. Nearly 70% of our respondents believe we are now in a bull market and believe that innovation and positive regulation will boost their investments in 2021.

Price Targets – Our VIPs offered bullish forecasts for bitcoin and ethereum in 2021, with high-end estimates for their price appreciations topping $250,000 and $15,010, respectively. Respondents are optimistic that next year both cryptocurrencies will provide at least 175% returns from October prices.

[... removed DEFI talk ...]

[Download Our Full Survey Here]

[cAPSLOCK]

Because drawing triangles on 15m candles makes so much sense.  Also the volume is very sad...

[jojo69]

[Vlad2Vlad]

It was just about this point in the last cycle that we were hoping to breech 1k again.  Just 4 years ago.  Actually less.

Later in the last cycle 1k CANDLES we a thing.

In this cycle we are looking to breech 20k this time.

Can you imagine 20k candles?

/\BTC x 10 bagger ===> 100k - 200k easy hodl gentlemen

Crazy prediction man.  Can you imagine the alt pump
With that much liquidity in crypto? 

[nutildah]

Can you imagine the alt pump
With that much liquidity in crypto? 

In this thread that's simply
Not what we do here.

[Wekkel]

It was just about this point in the last cycle that we were hoping to breech 1k again.  Just 4 years ago.  Actually less.

Later in the last cycle 1k CANDLES we a thing.

In this cycle we are looking to breech 20k this time.

Can you imagine 20k candles?

/\BTC x 10 bagger ===> 100k - 200k easy hodl gentlemen

Crazy prediction man.  Can you imagine the alt pump
With that much liquidity in crypto? 

Posted the appropriate link already: https://bitcointalk.org/index.php?topic=178336.msg55725190#msg55725190

[JSRAW]

Look at the bright side, at least no injuries were reported.

[explorer]

Don't forget what Hal Finney predicted more than ten years ago, or rather his napkin math calculation. (TLDR = $10m USD / BTC) Still, that's going to take a few more years (perhaps another decade.)

I came to $3M / BTC after a quick calculation (roughly $60 Trillion divided by 21 million) while pondering the idea of GBTC buying more BTC daily than mined daily. On the latter: if that's the case and we are truly in a new phase where there is relentless and relatively price agnostic buying on a continued basis above daily coin production, the question is simply:

=> at what point are HOLDlers willing to start parting with their coins?

I don't know how I could gauge that or make an educated guess on where that level would be. My gut reaction would be that $50k would make a few large holdlers nervous and that $100k can be expected to be a big 'cash out' (=redistribute) moment.

If anyone has a better scientific approach to this, let that person step forward.

It is the ultimate marshmallow challenge.  Many of us have lowered our time preference so much we are just not going to let go of much even when it does go up quite a bit.

For me personally the formula revolves around comfortable retirement and a little diversification into property.  I just don't want to spend much money on stupid shit, or even living large.  And I am acutely aware that the longer I wait the more I will be left with in the end.

That is where the real crux is, in my opinion.  Where that point is for each whale/minnow.

  How much do hodlers hold?  how much will they redistribute?  In 2013 Plans to bank/fund/invest $xx000000 seemed prudent.  Now, every day going forward reduces the $assets I want to hold:  A very modest fund for living expenses, and whatever hard assets (personal real estate, working farms, profitable businesses etc) I want while exchange rate is favorable.  The world we live in is changing faster than most can see or grasp.  Hodling more, longer, is going to be more popular as we go, IMO. 

_______________________________________________________________________________ _______

t is the ultimate marshmallow challenge.  Many of us have lowered our time preference so much we are just not going to let go of much even when it does go up quite a bit.

For me personally the formula revolves around comfortable retirement and a little diversification into property.  I just don't want to spend much money on stupid shit, or even living large.  And I am acutely aware that the longer I wait the more I will be left with in the end.

That is where the real crux is, in my opinion.  Where that point is for each whale/minnow.

You sir, are very wise.

Anyone not following a similar recommendation/approach is going to end up with massive regrets before they die.

I see so many here joking about blowing their bitcoin "winnings" on fancy cars, frivolous shit and such, and inwardly I know some of them aren't really joking.

What you don't know, is what they hold.  What some consider a life changing amount is mere dust to others.  Talk is cheap.

_______________________________________________________________________________ _____

It was just about this point in the last cycle that we were hoping to breech 1k again.  Just 4 years ago.  Actually less.

Later in the last cycle 1k CANDLES we a thing.

In this cycle we are looking to breech 20k this time.

Can you imagine 20k candles?

YES.


_______________________________________________________________________________ __________


 

Thanks, gembitz, I haven't seen the dancing banana.gif for a while 

[strawbs]

All this talk of the search for happiness, reminds me of the Buddhist concept of grasping being the source of unhappiness.

Happiness, if found, will always be temporary. You can buy the new car and you'll be happy for a while, until you then want the new boat, which itself will make you happy for a while, until you want the helicopter, then the airplane, ad infinitum. The search for permanent happiness will always be endless. Instead, Buddhism (well, some of its schools) would suggest that contentedness, rather than happiness, should be the goal.

Be content with what you have. Which doesn't mean that you shouldn't try to improve your situation and that of others, but that you should be content with whatever outcome arrives.

The whole "happiness" industry has just become so "Americanised" (or maybe "Californianised") to have simply become an industry of easily digested and poorly written books and websites. It's saddening, when there is potentially so much more to be learned here.

Ignoring the mention of God, I quite liked a passage in Obama's newly released "A Promised Land":

"The truth is, I've never been a big believer in destiny. I worry that it encourages resignation in the down-and-out and complacency among the powerful. I suspect that God's plan, whatever it is, works on a scale too large to admit our mortal tribulations; that in a single lifetime, accidents and happenstance determine more than we care to admit; and that the best we can do is to try to align ourselves with what we feel is right and construct some meaning out of our confusion, and with grace and nerve play at each moment the hand that we're dealt."

[cAPSLOCK]

Merited for the sadness.   But as they say... this too shall pass.