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

[sirazimuth]

.....
What's that, exactly?
Coinbase going to Wall Street?
Serious question.

Damn! I was gonna be a dick (as usual) and call you out on that heycooo....

[1714153001]

1714153001

[1714153001]

1714153001

[Biodom]

Coinbase filed S-1 for an IPO.
https://www.theblockcrypto.com/linked/88293/coinbase-s-1-potential-ipo-filing

after what what one dex did, it is entirely possible that they would allocate some at IPO prices to those currently on exchange, at least it would be a trick to cause/entice a massive move of btc back to their "hodl".

What's that, exactly?
Coinbase going to Wall Street?
Serious question.

yea, once SEC deems S-1 effective, a company can sell shares in the IPO and began trading on Nasdaq or NYSE.
Probably going to be either COIN or BASE.
CBAS is too weird (almost sea bass, lol).

[OutOfMemory]

.....
What's that, exactly?
Coinbase going to Wall Street?
Serious question.

Damn! I was gonna be a dick (as usual) and call you out on that heycooo....

LMFAO 
This wasn't even supposed to be a haiku! 
Seems to become a habit, though.

You want it, you get it:

What's that, exactly?
Coinbase going to Wall Street?
A serious question.

#haikuremix

[eddie13]

I guess this feels similar to when we busted our 1k ATH...    Feels nothing like when we hit 20k last time.     I remember looking at 1k and thinking,  OK finally we can just put that behind us and really didn't think much about it again until we hit 3k and went through some serious 1k chops.      I think we will be feeling the pressure around 50k with 10k chops and it will be tough to not unload some.          At 100k,  I'll be in awe and feel like we did it..      Once we pass that,  I don't see why you would cash out at all,  BTC will be the store of value and you would then just borrow against it or loan and live off interest from it...    

#HODL' good times!

Surely, I would not consider cashing out small amounts of BTC (or maybe even large amounts -relatively speaking) along the way to be bad judgement, necessarily.  A lot of the considerations of whether a BTC HODLer is being prudent or practical will depend on a lot of individual factors including when s/he got into bitcoin and whether or not s/he feels that s/he is over-allocated in bitcoin. 

I find it a wee bit ironic that there are long term bitcoiners who are supposedly still stacking sats rather than either just waiting it out or cashing out small amounts on the way UPpity.. but hey, to each their own in terms of how to manage their monies.

Maybe an example might do, here?

Let's say for example someone got into bitcoin several years ago - like somewhere in the time-frame of 2013 to early 2017, so in essence his/her cost basis is in the three digit realm - and maybe even in the sub $500-ish realm for some HODLers of that era...

Anyhow such hypothetical person(s) accumulated BTC in the neighborhood of 10% of his/her total investment portfolio in BTC, and it was not as if the remaining 90% was any kind of small investment, it was a sufficiently large amount of an investment to sustain such person in the event that BTC were to go to zero... which surely has not happened, yet but seems to have been a BIGGER possible risk that should have been part of the considerations regarding allocations in that 2013 to early 2017 time-frame.

As we largely can appreciate is that what happened in late 2017 is that BTC prices appreciated more than 20x (considering a 3 digit cost basis for this hypothetical person(s)), so if such person had not cashed out very many of his/her coins during such 20x price increase, that 10%-ish allocation would have gone into the 90%-ish area of that persons allocation of total value in his/her investment portfolio....

So yeah, sure it corrected back down 85%-ish but still is largely 3x-4x up from the cost basis, so it ends up being perhaps less than 50% of the allocation in late 2018 and even may have sunk to such petri values (of less than 50%-ish) during the March 2020 crashening of BTC prices...

However, now after all of this UP and down and even the going through the 2018 to 2020 correction period, the BTC price is largely back to late 2017 levels (and beyond), so assuming that such hypothetical person did not sell any meaningful amounts of his/her BTC between late 2017 and now, then such BTC allocation has returned to supra 90% allocation levels in his/her total portfolio...

So in that regard, I don't really understand why it is not o.k. or prudent for such person to shave off some BTC at any point.. I mean what is the point of NOT having any value invested in anything else except BTC when the 90% that such person already has has made him/her richie as fuck (relatively speaking when looking at his/her prior allocations of wealth (investments) that continues to just stagnate in comparison to the BTC component of the investment portfolio)? 

In other words, I don't even see any kind of meaningful reason to keep buying BTC or completely HODLing onto every single BTC under such circumstances.. except maybe just symbolically wanting to support the cause or buying some BTC on dips..   but really, what's the point?  How many BTC is enough? 

The reality of the matter is that if the BTC price keeps going up to $50k, $100k and beyond $100k as you suggest WastedLTC.. then that BTC value has already become a great amount of value of such hypothetical person that just becomes more (and maybe even too much) of the portfolio value of the BTC HODLer.. so it seems to me that shaving off some lil corns along the way or just consuming goods and services here and there does not really seem like a bad thing.. including the considerations of consuming some other kinds of investments if anything strikes the fancy of the HODLER who happens to have way more than 90%+ in bitcoin, largely due to BTC price appreciation rather than being irresponsible in any kind of way related to how such BTC HODLer had acquired such BTC in the earlier years.   

But what if a hodlr simply believes in BTC JJG?

What if.. I believe in the future of BTC, and it’s ability to withstand future events, more than any fiat currency of any country, any government, or any companies in anY of these countries?

And, on top of that, maybe I don’t trust any government not to steal any of my assets within the reach of their grubbby fingers?
What else can I invest in that a government can’t just snatch from me at any moment they desire? And would easily be able to skip town on any such oppressive country/government without leaving my assets behind?

[Phil_S]

I guess we're going down now, after traditional AYH on Dec 17.

[sirazimuth]

....
This wasn't even supposed to be a haiku!  
....

LOL, For whatever reason, I actually suspected that, which is why I checked.
Yup, haiku indeed, no need to edit it my friend!  

[LFC_Bitcoin]

I guess we're going down now, after traditional AYH on Dec 17.

Bitcorn iz ded, sel everyfink!

[eddie13]

Omg mug corns r only worth 22713

[LFC_Bitcoin]

Omg mug corns r only worth 22713

Muh corns r onli worth over 5 x what they wer during the covid dump in March

#mindrust2020

[sirazimuth]

...
What else can I invest in that a government can’t just snatch from me at any moment they desire? .....

The power to think rationally.
Trust in real science...etc.
I know that's intangible and not monetary, but the government cannot steal it anyway.

[Phil_S]

[Toxic2040]

noon charts at 1:24pm



#dyor

4h



D

#stronghands

[eddie13]

Omg mug corns r only worth 22713

Muh corns r onli worth over 5 x what they wer during the covid dump in March

#mindrust2020

MuH corns ore only still worth a little over 100x what dei wuz..

[El duderino_]

Even google speaks GREEN DILDO

[BobLawblaw]

Just YOLO'd and blew the rest of my powder on Gemini, market buy @ $22,643.61

Enough degeneracy for this round. Will resume in the New Year.

[Biodom]

.. so it seems to me that shaving off some lil corns along the way or just consuming goods and services here and there does not really seem like a bad thing.. including the considerations of consuming some other kinds of investments if anything strikes the fancy of the HODLER who happens to have way more than 90%+ in bitcoin, largely due to BTC price appreciation rather than being irresponsible in any kind of way related to how such BTC HODLer had acquired such BTC in the earlier years.  

Yes, but it is just strategic thinking 101.
For a more advanced course consider that rich rarely sell their assets and btc is precisely that-an asset.
When you sell an asset, you get hit with the cap gains tax (at least in US), I think that at least Germany and Portugal (maybe Denmark as well-not sure) don't have cap gains on btc sells. What do rich (like Musk) do? They borrow against the asset in $$.

Let's say that instead of selling 20% of btc at 20K (for easier calc) you borrow 20% of the net current value at yearly 5% (realistic numbers).
So, essentially, you got cash equal to 20% of your stash without selling anything.
If btc goes down, you keep paying the loan from your fiat cash flow (it has to be significant and positive, of course).
If btc goes up, for example 100%(to 40k, quite realistic), you sell 10% to buy back your loan (note that you only need to sell 10%, not 20).
The end result-you have 90% of the original stash, was able to do something with 20% of the original value (invest, buy a house, etc), paid only less than half tax (comparing to the original tax) with less than half because you can possibly deduct something of the loan interest, not 100% sure about that.

[HairyMaclairy]

Ok I’m calling the top for 2020 at $23,777.  

Let’s see how well this comment ages.  I am not trading this (hodl only) but just calling the top for fun.  YMMV.  

[jojo69]

Ok I’m calling the top for 2020 at $23,777.  

Let’s see how well this comment ages.  I am not trading this but just calling the top for fun.  YMMV.  

[HairyMaclairy]

.. so it seems to me that shaving off some lil corns along the way or just consuming goods and services here and there does not really seem like a bad thing.. including the considerations of consuming some other kinds of investments if anything strikes the fancy of the HODLER who happens to have way more than 90%+ in bitcoin, largely due to BTC price appreciation rather than being irresponsible in any kind of way related to how such BTC HODLer had acquired such BTC in the earlier years.  

Yes, but it is just strategic thinking 101.
For a more advanced course consider that rich rarely sell their assets and btc is precisely that-an asset.
When you sell an asset, you get hit with the cap gains tax (at least in US), I think that at least Germany and Portugal (maybe Denmark as well-not sure) don't have cap gains on btc sells. What do rich (like Musk) do? They borrow against the asset in $$.

Let's say that instead of selling 20% of btc at 20K (for easier calc) you borrow 20% of the net current value at yearly 5% (realistic numbers).
So, essentially, you got cash equal to 20% of your stash without selling anything.
If btc goes down, you keep paying the loan from your fiat cash flow (it has to be significant and positive, of course).
If btc goes up, for example 100%(to 40k, quite realistic), you sell 10% to buy back your loan (note that you only need to sell 10%, not 20).
The end result-you have 90% of the original stash, was able to do something with 20% of the original value (invest, buy a house, etc), paid only less than half tax (comparing to the original tax) with less than half because you can possibly deduct something of the loan interest, not 100% sure about that.

How do you propose to manage margin calls?

[Biodom]

Ok I’m calling the top for 2020 at $23,777.  

Let’s see how well this comment ages.  I am not trading this but just calling the top for fun.  YMMV.  

blasphemy...
I kind of agree, comparing to 2017 except to "bottom" at either 20.8K (if Nov repeats) or maybe even 16500-18800 in March 2017 scenario.
I don't root for the dip, but we are a bit exuberant right now.