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

[explorer]

How high will BTC go when ETH screws up again and all those BTC on eth are lost/burnt?

   Fuel for this fire?

[1714721882]

1714721882

[1714721882]

1714721882

[rolling]

We're doomed! The 21M limit will be lifted, because DeFi.
Bullshit is strong with this one.

https://cointelegraph.com/news/the-butterfly-effect-why-defi-will-force-btc-to-break-its-21m-supply-ceiling

What a fool. How did this get published?

Any change to the 21 Million coins is a fork and no longer Bitcoin.

This is the same argument as "not enough coins available on exchanges" or "exchange coin shortage". If there are fewer coins available for sale, the price goes up. There will always be coins available for your dollars, you just get fewer satoshis per dollar. There is no shortage, the price is just too damn low!

Plus, what does moving a decimal place have to to do with DeFi? There are already 21,000,000 * 100,000,000 = 2,100,000,000,000,000 satoshis. Does the author not know you can transact with less than a whole bitcoin?

More FUD to scare away anyone thinking about investing. It's articles like this that ensure only the most intelligent people get into bitcoin while the 99% stay ignorant. I guess in that way, it's a good thing.

[Hueristic]

Guys.

I'm starting to get scared.

I think I'm starting to see the blonde, brunette, and redhead while watching the stream of data.

So fucking pleased with myself with the recent buying degeneracy...

Quick, save yourself, snort a blue pill!

[Biodom]

For Bawb and others...after cashing out btc  :

https://finance.yahoo.com/news/new-forbes-zillowlike-platform-for-properties-over-2-million-debuts-200052458.html

[d_eddie]

Does the author not know you can transact with less than a whole bitcoin?

I'm sure he knows. But he wants honey badger to turn into potty ledger.

[fillippone]

In 1967, Italian engineer Giorgio Rosa

Republic of Rose Island

The platform declared independence on 24 June 1968

https://en.wikipedia.org/wiki/Republic_of_Rose_Island

Now, after many years, they continue with the same thought.

Governments do not like this kind of micronation initiatives.

They feel intimidated by any initiative that escapes their laws.

As an italian, I've heard about this several times.
Italian Wikipedia entry gives more informations, it might be worth a read via Google Transalate.

The key passage is the following:

The claims of sovereignty, independence and international rights acquired by the owners of the platform were unfounded, as Italian citizens, even outside Italy, must abide by state laws (this in a nutshell can be deduced from the essay on the Journal of International Law of 1968 ).

Wondering if this principle applies to every citizenship or only to italians.

https://en.wikipedia.org/wiki/Extraterritorial_jurisdiction

This incredible story now became a Netflix Movie:

https://www.theguardian.com/film/2020/dec/09/rose-island-review-micronation-comedy-netflix

https://www.netflix.com/it-en/title/81116948

P.S. is that the longest Reply to on the thread at almost 20 months?

[Dabs]

It's still possible to propose fundamental rule changes, but in any case would result in a fork

Yeah, it will become Bitcoin XYZ or something, a completely different chain, and will not be on too many exchanges, if any at all. Depends on who forked it.

I imagine if a major large financial institution backs it, then, yeah ... JPCoin or MorganStanleyCoin or FidelityCoin ... something along those lines. If, for example, there becomes a fork like VanguardCoin, you can imagine plenty of institutional investors will buy it.

[Dabs]

... know that I hold more BTC in reserve than I could reasonably spend in my lifetime.

You could simplify it a bit by setting a fixed (in fiat) amount of extra money to spend, or not spend. If you really want to unreasonably spend everything in your lifetime, you will need either an estimate of how much time you have left or fudge it a bit more, then divide your corns by that number of years, and you have a maximum number or ceiling to liquidate.

A nice number to assume would be 30. Since , as you know, plenty of sources say 25x of your annual expenses and in theory you should be able to live on 4% of that for the rest of your life.

So, if you have say, 300 corns, then divide that by 30, that means you can probably spend 10 corns every year, and you'll be unreasonably spending everything until it runs out. It will take 30 years to deplete, and as the price fluctuates, goes up, or goes down, probably going up for the next 30 years, you'll end up with more fiat than you know what to do with.

Imagine being "forced" to spend 1 corn a month for the next 30 years.

If you're still alive in 30 years, you'll either run out of corn but have a lot of fiat, OR you didn't spend all your corn and can keep drawing on it.

If you're not already a billionaire, do not get a private jet. You will need more than the price of the plane to pay for it, maintenance, expenses, a full tank of fuel everytime you fly, salary for your pilot, all sorts of paperwork. I think flying first class or even business class, when you do need to travel, is quite okay with a lot of people already.

Funny, you are describing a plan that I concocted a few years back...dividing by 30, etc.
However, I deviated...don't want to cash out and spend yet, lol

Plenty of financial independence blogs and websites have been posting along these lines. 25x to 30x. I picked 30 because it's a "safer" number, and it's not too far away from 25.

Any higher and it implies you moved the oft quoted 4% number down lower than 3%, which is safe, but too conservative and probably wasting money. Unless you have more than you can reasonably spend, such as anyone winning some mega millions super powerball for several hundred million. Then you can play it safe and just leave it in any regular deposit account, but everyone is going to call you stupid. (you have 100 million when your annual expenses are below $40k USD? who cares what they say, you are set for life even if you spend a million a year.)

[Biodom]

... know that I hold more BTC in reserve than I could reasonably spend in my lifetime.

You could simplify it a bit by setting a fixed (in fiat) amount of extra money to spend, or not spend. If you really want to unreasonably spend everything in your lifetime, you will need either an estimate of how much time you have left or fudge it a bit more, then divide your corns by that number of years, and you have a maximum number or ceiling to liquidate.

A nice number to assume would be 30. Since , as you know, plenty of sources say 25x of your annual expenses and in theory you should be able to live on 4% of that for the rest of your life.

So, if you have say, 300 corns, then divide that by 30, that means you can probably spend 10 corns every year, and you'll be unreasonably spending everything until it runs out. It will take 30 years to deplete, and as the price fluctuates, goes up, or goes down, probably going up for the next 30 years, you'll end up with more fiat than you know what to do with.

Imagine being "forced" to spend 1 corn a month for the next 30 years.

If you're still alive in 30 years, you'll either run out of corn but have a lot of fiat, OR you didn't spend all your corn and can keep drawing on it.

If you're not already a billionaire, do not get a private jet. You will need more than the price of the plane to pay for it, maintenance, expenses, a full tank of fuel everytime you fly, salary for your pilot, all sorts of paperwork. I think flying first class or even business class, when you do need to travel, is quite okay with a lot of people already.

Funny, you are describing a plan that I concocted a few years back...dividing by 30, etc.
However, I deviated...don't want to cash out and spend yet, lol

Plenty of financial independence blogs and websites have been posting along these lines. 25x to 30x. I picked 30 because it's a "safer" number, and it's not too far away from 25.

Any higher and it implies you moved the oft quoted 4% number down lower than 3%, which is safe, but too conservative and probably wasting money. Unless you have more than you can reasonably spend, such as anyone winning some mega millions super powerball for several hundred million. Then you can play it safe and just leave it in any regular deposit account, but everyone is going to call you stupid. (you have 100 million when your annual expenses are below $40k USD? who cares what they say, you are set for life even if you spend a million a year.)

I did not mean that I had an original idea, just that I had a similar conclusion to what you proposed.
That said, I noticed that my investment prowess is going down, I keep leaving gobs of money on the table and sell too fast, but heck, if i sell with profit, I cannot lose money, right,   ?
At some point I just want to have a vast % of my fiat in short term bonds for actual usage and not accumulation, but every time I sell stonks for cash, it starts to "burn my hands" a la Bawb.
Got a partial re-investment plan for tomorrow. We'll see how it goes. I would not be too surprised to wake up one day with Dow down a couple of thou points.
Bitcoin, I leave alone, and speculate in GBTC instead.

[lightfoot]

[Arriemoller]

Sheeeiiit

[HI-TEC99]

Sheeeiiit

It's not so bad, we were at $15350 thirty days ago.

[BobLawblaw]

Wonder if my degenerate $500 @ $17,850 dip-order is gonna fill overnight...

Please just kill me now.

EDIT: Oh shit. Haha.

[Arriemoller]

Sheeeiiit

It's not so bad, we were at $15350 thirty days ago.

Maybe not, but I'm waiting for a break up over 20 000 USD and the darned thing keeps going in the opposite direction.
So far I'm not particularly excited, it feels like " been there, done that" for me, I think above 20k is my jippi! JA! äntligen! (yippee! yes! finally!) moment.
Lets hope for a happy weekend.

[BobLawblaw]

Still up, chugging away on... stuff.

Just placed a degenerate $500 dip order @ $17,750.

EDIT: Oh, and someone postulated earlier that I use Kraken. This is not the case. I did for one sale of $100k USD, and found it to be a complete nightmare, to extract the funds. Using the ActiveTrader interface at Gemini. I don't want to sound too, too gay, but I really like Gemini. The Winklevoss Twins aren't my type, but, well... yeah.

EDIT2: Also, someone also questioned whether I'm black and libertarian, while having such a confusing stance on being comfortable paying the requisite long-term capital gains tax.

I can understand the confusion, but, while being one who believes in Liberatian ideologies about The United States, I'm also pragmatic to understand that we live in a system, and I need to abide by the rules.

Speaking to being a black man, I've been blessed to have been raised well by incredible parents who I love dearly. The teachings of The Bible and Jesus played a major formative role in my early psyche development. I've worked very hard, and overcome a lot of racism, to get to where I am today. I get racism. People are going to be who they are going to be. I just need to be calm and understanding of that, and try to be the best person I can, and demonstrate that with every interaction I have, with people.

EDIT3: Degenerate $17,750 order filled. Good grief. Off to place another degenerate $500 order @ $17,650, I guess. I should probably sleep now...

[sirazimuth]

Well then...
I'm glad to see I'm not the only one who posts one's innermost feelings after having a few. And that's not a bad thing.
Good on you bob.  ( albeit no comment on the bible and jesus ...see my avatar)

[l0_ola]

I'm newbie in TA. What do you think will this support level be broken down in the December?
https://i.imgur.com/v46ZZxf.png

[Globb0]

I'm newbie in TA. What do you think will this support level be broken down in the December?

The line you have drawn is already broken if the last red candle is closed now ?

here is your chart, I added a couple of support resistance zones

[OutOfMemory]

I'm newbie in TA. What do you think will this support level be broken down in the December?

See that yellow arrowheads on the right y-axis?

$16.221

We don't want to go below that. Other then that, all is fine.

EDIT: Well, if you want to buy, you'd actually WANT to go below that or whereabouts.


ATM: Support at $17.600-$17.700 is strengthening, volume goes moderately low and RSI slowly approaching "buy zone".
Bears might take advantage of that, re-testing support until dry, to cheer to the bulls again. Around $18.600 i'd like to see crossing of the 200 DMA, followed by sustained bull action.
Just my 2 cents.
#whatdoiknow

[LFC_Bitcoin]

Would be good if we stop this slow bleed ASAP. I really don’t feel like dropping below $17,000. I guess the correction after reaching a new ATH was needed but it’d be nice if we don’t dip much further. There’s a lot of resistance at $20,000 so could be a few months before we get & stay over $20,000.