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

[OutOfMemory]

Rofl, insane day !

But remember:

What goes up...

...might not stop.

HB, lightfoot!

EDIT: GOING AGAIN!
Really crazy. Even more than 2017 right before the dump.

That is way the fuck NOT true OOM.  We are not even close to late 2017 levels of bitcoin rise.   We may be somewhere in the territory of early 2017 or even May and June 2017 kinds of rises...  Perhaps?

You should know better than that OOM, especially for being active in this thread for a couple of years... (even though your date of registration shows less than 1 year).

Brrrr... please hold it, pal.
First, i did apologize a few posts later (exact memory is my main problem). You might have read it after you commented my answer to Wekkel Wexlike (EDITED: see? memory).
Second, i just looked up Bitstamp on cryptowatch. At the end of 2017 pump and we had $1k to $2k daily green candles, while in the last few days we had $1k to $1.5k (roughly) green daily candles. That's the kind of rise i was talking about, not the steepness of the parabola. I know the difference, i just didn't express it in a clear way.
But i remembered, or thought to remember, were around $1k daily rises at the end of 2017 before the bears took over. (EDIT: At the time of the original post) I know, in terms of parabola, we're nowhere near the end of 2017, but the $1k+ (EDIT: daily) rises reminded me a lot of that time.

EDIT: Sorry for editing this thing to near death.

Observing new ATH with relatively low volume.

Also, observing not many large sell walls before $25k

Also... running out of champagne.
#2020BitcoinProblems

*Edit Also, observing JJG in full keyboard warrior mode.

These sell walls are adjusted by bots faster than you can say "bot".

This isn't even close to JJG's full keyboard warrior mode 
#respect

[JayJuanGee]

.. 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 $$.

Of course, there are a variety of tactics that any of us can deploy, and you seem to almost be arguing my point in terms of the passive income aspect of living off of the appreciation of value rather than the principle, and when you reach a large ass fucking amount of principle, you do not necessarily need to be comparing your strategies to the rich and famous, but instead figuring out what works for you in terms of being able to live comfortably.

Like I said several times already, there comes a point in which shaving off some BTC makes sense - especially when you already have a fuck ton of them.  Ask Bob.... or maybe you do not want to ask him... but sometimes there is some practicality in shaving off some value and just paying the taxes and enjoying the proceeds whether it is a simple ranch or a more elaborate ranch with a helipad and/or runway.

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).

You can do both.  You can sell some BTC and you can also employ those leveraging (not selling) tactics too.  I am not suggesting that other tactics cannot supplement the shaving off along the way approach..

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.

I don't disagree with any of this... and in some sense you seem to be arguing against yourself because in one post you seem to be suggesting a strategy that depletes your principle, and in this second way of framing, you are suggesting a strategy that does not deplete your principle.  My strategy does not contradict any of this, and you seem to be getting in the weeds a bit in terms of presenting contradicting strategies (and sure I am not opposed to a basket of strategies that the person tailors to his/her situation), and I have not even suggested ONLY one approach, even though I tend to focus on ways to just use your BTC without overly complicating all of the supplemental ways that some of the BTC or assets might be put to work - without, hopefully, getting too distracted into various shitcoin products or shitcoin talking points that you gotta do this, that or another thing to put your btc to work when such complicated strategies might not be necessary in order still ensure that you are rich as fuck from the BTC stash that you have and are able to shave off simply.. and even pay uncle sam along the way and still be rich as fuck in perpetuity (or until death, whichever comes first).

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.  

Our mileage did vary, hairybairy.  

 

You have another opportunity to call the 2020 top at $24,217, and if you keep calling it (as it is going up), sooner or later you are going to be correct.. as long as you stay online until midnight on 12/31.  

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.  

Me = JJG

.....

Hairybeary.... 

Only shorter text

The dude said it first.  I must admit.

[JimboToronto]

At the end of 2017 pump and we had $1k to $2k daily green candles, while in the last few days we had $1k to $1.5k (roughly) green daily candles.

By the end of 2021 we should have $10k-$20k daily green candles.

[HI-TEC99]

Getting close to thinking of taking a little profit in the form of 100 acres of prime forested property with 1500 feet of lake frontage, ten minutes from a major hospital and about an hour and a half from downtown Toronto. Under 23 bitcoins at current prices.



Thank you Bitcoin.

Do it!
Peace and serenity now is more important than pie in the sky, especially when we are not there (in the future).

Now is actually months away. This is just the land. I'd still have to build a house,

Personally I wouldn't trust any builder that's not approaching retirement age. Brick layer training used to take 7 years. Now it's three months. I've seen too many people suffering from badly built new build houses to trust anyone young.

[600watt]

At the end of 2017 pump and we had $1k to $2k daily green candles, while in the last few days we had $1k to $1.5k (roughly) green daily candles.

By the end of 2021 we should have $10k-$20k daily green candles.

this.



 

[BobLawblaw]

Painting ze bull flag.

[Biodom]

Getting close to thinking of taking a little profit in the form of 100 acres of prime forested property with 1500 feet of lake frontage, ten minutes from a major hospital and about an hour and a half from downtown Toronto. Under 23 bitcoins at current prices.



Thank you Bitcoin.

Do it!
Peace and serenity now is more important than pie in the sky, especially when we are not there (in the future).

Now is actually months away. This is just the land. I'd still have to build a house,

Personally I wouldn't trust any builder that's not approaching retirement age. Brick layer training used to take 7 years. Now it's three months. I've seen too many people suffering from new build badly build houses to trust anyone young.

We cannot print them, still   ?
Around here they build houses using OSP wood.
When I first saw it, I was horrified, but, apparently, they are OK for at least 50 years (if no grade 4-5 hurricanes).
Will not stand for hundreds, most likely.

[wxa7115]

A lovely good morning Bitcoinland.

Another day another ATH... currently $24080USD/$30795CAD (Bitcoinaverage).

Go Bitcoin go.

This is what it is happening to me, every time I look at the price and visit this thread BTC is reaching another ATH, which reminds me of this famous quote in the movie Forrest Gump.

-The US Ping-Pong team HODLERS met with President Nixon the ATH today at an Oval Office ceremony the WO Thread...

- And wouldn't you know it? A few months days later, they invited me and the Ping-Pong team HODLERS to visit the White House the WO Thread.

- So, I went, again. And I met the President of the United States the ATH, again.

https://www.youtube.com/watch?v=bmnSMlAstMc

[OutOfMemory]

At the end of 2017 pump and we had $1k to $2k daily green candles, while in the last few days we had $1k to $1.5k (roughly) green daily candles.

By the end of 2021 we should have $10k-$20k daily green candles.

this.



 

Yes. I can not even imagine right now how excited i will feel, observing these candles.
Especially if $1k-$2k daily pumps keep me totally satisfied, for now.

[HI-TEC99]

Getting close to thinking of taking a little profit in the form of 100 acres of prime forested property with 1500 feet of lake frontage, ten minutes from a major hospital and about an hour and a half from downtown Toronto. Under 23 bitcoins at current prices.



Thank you Bitcoin.

Do it!
Peace and serenity now is more important than pie in the sky, especially when we are not there (in the future).

Now is actually months away. This is just the land. I'd still have to build a house,

Personally I wouldn't trust any builder that's not approaching retirement age. Brick layer training used to take 7 years. Now it's three months. I've seen too many people suffering from new build badly build houses to trust anyone young.

We cannot print them, still   ?
Around here they build houses using OSP wood.
When I first saw it, I was horrified, but, apparently, they are OK for at least 50 years (if no grade 4-5 hurricanes).
Will not stand for hundreds, most likely.

How old are the builders building them? Experienced 50/60 year olds, or 16 year old dickheads? How do you know how old the builders were when you view it? The salesman's never going to admit it was built by dickheads.

[OutOfMemory]

Getting close to thinking of taking a little profit in the form of 100 acres of prime forested property with 1500 feet of lake frontage, ten minutes from a major hospital and about an hour and a half from downtown Toronto. Under 23 bitcoins at current prices.



Thank you Bitcoin.

Do it!
Peace and serenity now is more important than pie in the sky, especially when we are not there (in the future).

Now is actually months away. This is just the land. I'd still have to build a house,

Personally I wouldn't trust any builder that's not approaching retirement age. Brick layer training used to take 7 years. Now it's three months. I've seen too many people suffering from new build badly build houses to trust anyone young.

We cannot print them, still   ?
Around here they build houses using OSP wood.
When I first saw it, I was horrified, but, apparently, they are OK for at least 50 years (if no grade 4-5 hurricanes).
Will not stand for hundreds, most likely.

How old are the builders building them? Experienced 50/60 year olds, or 16 year old dickheads? How do you know how old the builders were when you view it? The salesman's never going to admit it was built by dickheads.

Living in such a house, i can't stress enough that experience of the builders defines quality, as suggested by you.
What you want is a type3 or type4 OSP inside (as vapor barrier) and high dense, breathable, soft fiberboard outside, to support diffusion. mount a windshield foil over that (to keep moisture from outside off the fiberboard) and apply a ventilated facework upon it. This is how you keep the walls healthy for ages.

[jojo69]

[Biodom]

Getting close to thinking of taking a little profit in the form of 100 acres of prime forested property with 1500 feet of lake frontage, ten minutes from a major hospital and about an hour and a half from downtown Toronto. Under 23 bitcoins at current prices.



Thank you Bitcoin.

Do it!
Peace and serenity now is more important than pie in the sky, especially when we are not there (in the future).

Now is actually months away. This is just the land. I'd still have to build a house,

Personally I wouldn't trust any builder that's not approaching retirement age. Brick layer training used to take 7 years. Now it's three months. I've seen too many people suffering from new build badly build houses to trust anyone young.

We cannot print them, still   ?
Around here they build houses using OSP wood.
When I first saw it, I was horrified, but, apparently, they are OK for at least 50 years (if no grade 4-5 hurricanes).
Will not stand for hundreds, most likely.

How old are the builders building them? Experienced 50/60 year olds, or 16 year old dickheads? How do you know how old the builders were when you view it? The salesman's never going to admit it was built by dickheads.

Totally agree, I would never hire a young guy to build the new house, but how many times you build a new house for yourself? Maybe not even a single time.
I did it just once so far and at that time I did not know anything about houses.
It (and the roof) survived a direct hit by Ike, though, which was a very large (in diameter) hurricane, but winds at 110 mph or less on landing.
Builders here 100% employ mexican contractors/workers, typically middle age. They are experienced, but there is not much choice otherwise.
You hire a contractor for the job, who knows who he/she would employ-you have almost no say in that.

[BobLawblaw]

[cAPSLOCK]

Bitcoin often likes these wedges...

[BitcoinGirl.Club]

Probably you need to grow the fuck up, GbitG.  Read a few more posts, and try to contribute to the thread with a bit more humility until you get to know the place.  Few of us would expect you to know everything from the start, but starting out as an arrogant newbie and even begging for merits does not seem a great approach towards winning over WO peeps to want to give some credence to your posts.

I was checking his post history and from the day before yesterday he did not make any post in WO 😛
You spells are working.

Calling me sisters was funny though LOL

[BitcoinGirl.Club]

My man!
No one takes note of it these days 🤣

[HI-TEC99]

Getting close to thinking of taking a little profit in the form of 100 acres of prime forested property with 1500 feet of lake frontage, ten minutes from a major hospital and about an hour and a half from downtown Toronto. Under 23 bitcoins at current prices.



Thank you Bitcoin.

Do it!
Peace and serenity now is more important than pie in the sky, especially when we are not there (in the future).

Now is actually months away. This is just the land. I'd still have to build a house, although in the spring I could still drop a trailer on the land for weekend use.

The big problem is converting my coins into dollars and paying capital gains taxes. I don't have (nor want) a bank account. Luckily I have one paper wallet (my largest) which can be traced to my identity, containing about 30 coins. Hopefully that will cover it.

Gentlemand listed a few OTC options for cashing out. I don't know anything about them, but he is considering them.

I sold my BCH in late 2017. That was quite a lot of money but I transferred it into bitcoin & sold it to a few people on LBC. I don’t think I want to be selling hundreds of thousands of pounds worth on LB in this cycle.

https://genesistrading.com

https://www.b2c2.com

https://cumberland.io

https://www.circle.com/en-gb/trade

But it's really, really hard to get people to talk about their experiences with the above places. Don't get why it's so obscure.

I think LBC would still be a very good option as long as you stick with the biggest traders. I've read of others on r/bitcoinuk who sold 500 grand and more to one person in one go. It would be more sensible to break the sales up but it's likely whichever bank they go to will have kittens.

Thanks man, I’m saving this post.
That’s the next thing isn’t it, worrying about our personal banks

This is one of the handful of threads where I've seen a few OTC experiences discussed.

Boy, are they hard to come by - https://old.reddit.com/r/BitcoinMarkets/comments/8ecm6h/otc_what_are_your_experiences/?sort=confidence

If you don't already you should keep an eye on here - https://old.reddit.com/r/BitcoinUK/  as cashing out experiences and bank discussion turn up fairly regularly.

How exactly are you going to do an OTC sale for an "obscene amount of fiat" without exposing yourself to extreme risks?

You go to Genesis Trading or Cumberland Mining who telephones one of their nice clients looking to buy. You deposit your coins with them. Their client pays Genesis Trading. When the money is cleared everyone gets what they want.

Plus you get a nice man or woman to hold your hand throughout who won't freeze your arse because you're nothing more than an anonymous reference number on a status page.

[Alexander_Z]

There are an awful lot of consecutive green daily candles lately. Total of 8 to be precise.

Last time we had 8 in a row was back in June 2019.

Right. Sequences of six green daily candles are not unusual at all, seven are rare, but eight are just extraordinary.

[HairyMaclairy]

Bitcoin gets an “exceeds expectations” as we round out 2020

$50k predicted for May 2021