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

[shahzadafzal]

Loving the headline “Bitcoin's path to $5 trillion”

“Jake Ryan, the chief investment officer of crypto asset hedge fund Tradecraft Capital, explains how bitcoin could reach a market cap of $5 trillion by 2023 and $20 trillion by 2030.”

https://www.businessinsider.com/bitcoins-path-5-trillion-20-most-shorted-spacs-insider-investing-2021-3

[sirazimuth]

Next bitcoin price milestone...  age*1000....

 That's gonna fall shortly for me, albeit, for most Wo Bros, that was long since broken months* ago.
....Except Jimbo.. and that will fall shortly too, no doubt, right after mine.
 (*or years ago in "crypto time"...and please don't bat-slap me jay, I couldn't come up with a better term....)

You are weak, weak, in terms of your lacking in abilities to choose words.

Did I mention weak?

.....

Well I don't see your lil selfie offering an alternative. Perhaps?...

[BitcoinBunny]

Loving the headline “Bitcoin's path to $5 trillion”

“Jake Ryan, the chief investment officer of crypto asset hedge fund Tradecraft Capital, explains how bitcoin could reach a market cap of $5 trillion by 2023 and $20 trillion by 2030.”

https://www.businessinsider.com/bitcoins-path-5-trillion-20-most-shorted-spacs-insider-investing-2021-3

Fricking paywall shite no?

Figures I can live / retire with easily (and still keep most of the stash) but I think it will be sooner.
2022 - 2025 respectively.

[JayJuanGee]

Gurl, YOU are the one who is bearish-always selling when btc goes up and accumulating useless fiat,

That's bearish?

Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so? It seems to me that such a system only works if the underlying asset goes up. It could even be argued that mere use of this ladder implies fundamentally bullish beliefs (number go up). Otherwise, there would be no need for "suicidal buys" on the way down to zero.

Care to explain?

while I mentioned that i would not sell bitcoin (probably ever).

I think I see what you mean here. There are other, possibly more sophisticated ways to put the corn to work - for example, arbitrages or option plays - which however often imply ultimate movements that are essentially sales, or very akin to sales - but I digress. How, if even, does this imply that the more intuitive system is "less bullish" or even "bearish"?

I just do not want to criticize too much, to each their own.
Bearish in a sense that JJG personal goal seems to be fiat accumulation, so he/she is bullish on fiat, bearish on bitcoin (as a final destination).

Oh gawd... you hardly make any senses, Biodom.

I prefer the opposite, slowly selling my fiat in lieu of btc. Not 100% as Raoul Pal did, but close enough.

Using shitcoiner Raoul Pal as an example about what to do.. give me a fucking break.

Since I am still drawing fiat salary and don't spend too much, cash flow is not a problem.

Of course, having cashflow from other sources helps to determine how much bitcoin to spend or how much you might need for a passive income off of it.. so do you want to keep working for your cashflow or not work and just live with the same income from your bitcoin?
 

Real assets (farm land, properties, timber) to me seem the only use for selling btc, but even then, such sells are probably not needed anymore as soon (maybe already) you would be able to borrow against btc stack,

 Have you ever heard of food, lodging, hookers, lambos and blow?

which M. Saylor keeps bringing up, but not many on WO are listening.

 There are a lot of techniques that peeps can employ, including having a variety of techniques.

Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs.

Might work for some peeps and might not be necessary for others.. for example if your target is to have $3,333 per month then you could have that with $1million in bitcoin value.. of course, I would be using the 208 week moving average so 100 BTC.. creates a sufficient cashflow based on current 208-week moving average which is at $10k.  There are other ways to formulate as well.
 

That does not include additional strategies that you mentioned (selling covered options). Any illusions about lasting fiat value should have evaporated last spring with 25% increase in money supply in one year-again Saylor is very eloquent about it.

As far as tactics, yes, he/she thinks that this is a bullish posture (to sell while asset goes up and buy when asset is going down), but it is an erroneous approach, in the final analysis.

 It's an approach that works quite well, thank you very much.

This does not work in a vast majority of cases, believe me, I tried (not in bitcoin) and have scars to show for it.
Only an extraordinary btc mechanics allows for this approach to have some chance.

Been working pretty good for me so far.

Additionally, casual pressing "I am rich as fuck"-to me this sounds somewhat cringe-worthy, maybe only if you are a Mansa Musa reincarnation, and even then, but I digress, maybe I am too old school for the TikTok/Instagram/Snapchat age. Besides, on some subreddits such claim would require mod validation. Not here, though, which does not add credibility.

Rich as fuck can be a relative term.  So let's say for example, you have a requirement to have at least $1k income per month to maintain your lifestyle, then if you make $3k per month then you might consider ur lil selfie rich as fuck because you have 3x the needed amount.  Of course, there are other variations of rich as fuck, too... So we may or may not need to get into details depending upon what point is being attempted to be made.  We already talked about your goal to have something over $10k in monthly income.. I cannot remember exactly.. it might have even been $20k per month, and I said that seems a bit much, but I was attempting to try to work with you about those numbers, as well, in terms of trying to frame the issue and how much BTC you might need in order to generate those levels of income and thereafter feel comfortable in terms of long term sustainability.

[LFC_Bitcoin]

bitcoin down over $1000! is this the start of a bear market?

Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy).

I’ve seen many of your kind come & go over the years. Trolling in this thread won’t make you happy after messing up the opportunity of the century by selling all your bitcoin too cheap & ending up as a sad, brokedummy.

Well I hope ya'll are proud of yourselves. down $5000 in 6 hours, of course one more tweet and you're all rekt again. we'll see tomorrow

I sold too early on the last bull run and never got to buy the coins back....

Hi guys I also need a loan of 500$ right now through paypal

[Biodom]

Loving the headline “Bitcoin's path to $5 trillion”

“Jake Ryan, the chief investment officer of crypto asset hedge fund Tradecraft Capital, explains how bitcoin could reach a market cap of $5 trillion by 2023 and $20 trillion by 2030.”

https://www.businessinsider.com/bitcoins-path-5-trillion-20-most-shorted-spacs-insider-investing-2021-3

Fricking paywall shite no?

use uBlock origin instead of adblock plus and it would work.

[nullius]

Happy Pi Day guys... today is a Pi π day - 3.14

Happy Pi day!

So here’s thought what if all the Bitcoin mining rigs starts calculating the value of Pi just for 10 minutes? How much can we calculate? Keeping in mind (in early 2020) the computers on the bitcoin network were calculating close to 120 exahashes per second.

And for a reference “One terahash is a trillion hashes per second, one petahash is a quadrillion hashes per second, and one exahash is one quintillion hashes per second (a one followed by 18 zeros).”

Bitcoin mining hardware is restricted to a single use.  That is the meaning of “ASIC”:  Application-Specific Integrated Circuit.  A Bitcoin mining ASIC can only perform the inner-loop calculation for mining Bitcoin.  It cannot be repurposed for anything else.

The inputs to the ASIC chips are a 32 byte midstate, the last 4 bytes of the merkle root, a 4 byte timestamp, and 4 byte "bits" (target/difficulty).

Compare:  https://rya.nc/asic-cracking.html

Edit:  I forgot to add:  The algorithms usually used to calculate digits of pi are I/O limited, not CPU-limited.  That is one of the reasons why supercomputers are usually not used to calculate digits of pi.  You need big storage on fast SSDs.  Even a pi-digit-specific ASIC would not help you there.

[El duderino_]

Let's get back on topic everyone.

I don't find you credible in any way

How much maths and science do you know?

1btc = 1btc no matter what.

What about that and what do we need to know more.

[DaRude]

-multisnips-

Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?

I just do not want to criticize too much, to each their own.

you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs.

Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome.

Fidelity:
https://www.investopedia.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans-5091879
Basic rate is high, 4.5%, but i am sure this will go down.
I would be shocked if Coinbase would not do the same soon after the IPO.
Personally, i would never go above 20% LTV, maybe just 10% (in case of our typical 80% drawdown).
The advantage-NO cap gains tax. In fact, maybe deductible interest (or not, hard to say)

Borrowing Against securities (better rates right now):
https://www.schwab.com/pledged-asset-line
Libor is 0.11%, so the best rate is 1.86%.
Say, you've got, hypothetically, $10 mil of VOO.
You borrow $ 3mil. Your interest (to pay) is 3000000X0.0186=$55800 yearly
However, $10mil in VOO generates $152000 yearly in dividends. End result-you borrowed $3 mil to do whatever, it effectively cost you nothing (well, a decreased divvy).
Yes, you would have to pay the principal at some point, but you can use divvy remainder to do that plus VOO goes up roughly 10% a year, so the loan basically pays for itself (if stock market performs).
That's why rich can have a cake and eat it too, lol

More:
https://www.wellsfargoadvisors.com/why-wells-fargo/products-services/lending/securities-based.htm
Yes, best rates are for those with lots of assets.

Ret accounts are NOT eligible, though.

Mind you, I have done nothing of the sorts so far, but I am studying the question (after Saylor's remarks).

Ahh leverage, good idea, as long as markets keep going up 10% every year. How many months would it take to completely loose everything once market starts moving against you? Get triple whammy lose premium, your collateral gets reduced, and you get slammed with a tax bill once you're liquidated. Leverage is no panacea, despite what YOLO generation might say.

[Biodom]

I prefer the opposite, slowly selling my fiat in lieu of btc. Not 100% as Raoul Pal did, but close enough.

Using shitcoiner Raoul Pal as an example about what to do.. give me a fucking break.

I think that he said that he moved 100% of his net worth to cryptocurrencies with 80% of it being bitcoin.
Now he is a shitcoiner? Give me a break.
I sure as heck would not besmirch anybody who left fiat almost entirely.
Arguing about who is 100% "pure" or not is not productive.
Clearly, bitcoin does not cover 100% of ALL use cases. Maybe for money, it does.

[DaRude]

bitcoin down over $1000! is this the start of a bear market?

Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy).

I’ve seen many of your kind come & go over the years. Trolling in this thread won’t make you happy after messing up the opportunity of the century by selling all your bitcoin too cheap & ending up as a sad, brokedummy.

Well I hope ya'll are proud of yourselves. down $5000 in 6 hours, of course one more tweet and you're all rekt again. we'll see tomorrow

I sold too early on the last bull run and never got to buy the coins back....

Hi guys I also need a loan of 500$ right now through paypal

I usually reserve this for coinbase users but feels oddly appropriate here. To each his own i guess

Keep going brokedummy, we're all watching you

[Biodom]

-multisnips-

Biodom, it's not the first time you use the word 'bearish' to define JJG's ladder system. Why would you characterize it so?

I just do not want to criticize too much, to each their own.

you would be able to borrow against btc stack, which M. Saylor keeps bringing up, but not many on WO are listening. Such loans are typically used by high net worth individuals (HNWI) against VTI, VOO, SPY, and other whole or broad market ETFs.

Thank you. You got me thinking, especially about the loan thingy. I'd be glad to know more about that. Any pointers will be welcome.

Fidelity:
https://www.investopedia.com/fidelity-will-accept-bitcoin-collateral-for-cash-loans-5091879
Basic rate is high, 4.5%, but i am sure this will go down.
I would be shocked if Coinbase would not do the same soon after the IPO.
Personally, i would never go above 20% LTV, maybe just 10% (in case of our typical 80% drawdown).
The advantage-NO cap gains tax. In fact, maybe deductible interest (or not, hard to say)

Borrowing Against securities (better rates right now):
https://www.schwab.com/pledged-asset-line
Libor is 0.11%, so the best rate is 1.86%.
Say, you've got, hypothetically, $10 mil of VOO.
You borrow $ 3mil. Your interest (to pay) is 3000000X0.0186=$55800 yearly
However, $10mil in VOO generates $152000 yearly in dividends. End result-you borrowed $3 mil to do whatever, it effectively cost you nothing (well, a decreased divvy).
Yes, you would have to pay the principal at some point, but you can use divvy remainder to do that plus VOO goes up roughly 10% a year, so the loan basically pays for itself (if stock market performs).
That's why rich can have a cake and eat it too, lol

More:
https://www.wellsfargoadvisors.com/why-wells-fargo/products-services/lending/securities-based.htm
Yes, best rates are for those with lots of assets.

Ret accounts are NOT eligible, though.

Mind you, I have done nothing of the sorts so far, but I am studying the question (after Saylor's remarks).

Ahh leverage, good idea, as long as markets keep going up 10% every year. How many months would it take to completely loose everything once market starts moving against you? Get triple whammy lose premium, your collateral gets reduced, and you get slammed with a tax bill once you're liquidated. Leverage is no panacea, despite what YOLO generation might say.

Duly noted, hence don't borrow 70%, borrow 10-20%.
The main point is that selling the best asset in the history of earth for rapidly diminishing in buying power fiat is stupid, and I stand by that.

[nullius]

New poll:  How many dollars will 0.001 BTC be worth in March of 2022?

(Yes, the txid is real.  Try it on any explorer.)

As a cult sacrifice in memory of Lauda, I have irrevocably destroyed one satoshi.  To keep the UTXO set tidy, I used OP_RETURN with a 1 sat value and a message to be seen by all auditors of Bitcoin’s monetary supply.  The transaction is also a puzzle, with a prize of 0.001 BTC at the address bc1qt2mdkehmphggajer3ur3g8l754scj4fdrmw3rn.

😼
Cult of Lauda
Sacred Sacrificial txid:
000000000fdf0c619cd8e0d512c7e2c0da5a5808e60f12f1e0d01522d2986a51

One zero nibble for each of Kitty’s nine lives!

[AlcoHoDL]

Loving the headline “Bitcoin's path to $5 trillion”

“Jake Ryan, the chief investment officer of crypto asset hedge fund Tradecraft Capital, explains how bitcoin could reach a market cap of $5 trillion by 2023 and $20 trillion by 2030.”

https://www.businessinsider.com/bitcoins-path-5-trillion-20-most-shorted-spacs-insider-investing-2021-3

Fricking paywall shite no?

use uBlock origin instead of adblock plus and it would work.

I thought the same, as I'm already using uBlock Origin, and the above link opened fine. But the above link is not the actual article. If you click on the actual article link (the one below), a paywall appears (even when using uBlock Origin)... 

https://www.businessinsider.com/bitcoin-outlook-market-cap-hedge-fund-cio-emerging-crypto-assets-2021-3

[serveria.com]

bitcoin down over $1000! is this the start of a bear market?

Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy).

I’ve seen many of your kind come & go over the years. Trolling in this thread won’t make you happy after messing up the opportunity of the century by selling all your bitcoin too cheap & ending up as a sad, brokedummy.

Well I hope ya'll are proud of yourselves. down $5000 in 6 hours, of course one more tweet and you're all rekt again. we'll see tomorrow

I sold too early on the last bull run and never got to buy the coins back....

Hi guys I also need a loan of 500$ right now through paypal

OMG this is hilarious and sad at the same time... 

[AlcoHoDL]

bitcoin down over $1000! is this the start of a bear market?

Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy).

I’ve seen many of your kind come & go over the years. Trolling in this thread won’t make you happy after messing up the opportunity of the century by selling all your bitcoin too cheap & ending up as a sad, brokedummy.

Well I hope ya'll are proud of yourselves. down $5000 in 6 hours, of course one more tweet and you're all rekt again. we'll see tomorrow

I sold too early on the last bull run and never got to buy the coins back....

Hi guys I also need a loan of 500$ right now through paypal

Good find, LFC, good find. Observing those weak hands that sold their coins so low, coming over to WO to troll and play smart and know-it-all wise guys, is sad and amusing at the same time. That's why my Ignore List is, and always will be, empty. Guys like brokedummy, proudhon, r0ach, STRF, gembitz, are kind of like little clowns that cheer us up when corn is going sideways and things get a little boring.

I'd say, let them troll and enjoy the show. Just don't feed them, 'cause they're going to shit on you.

[El duderino_]

Nothing comes to mind
No haiku inspiration
I will have to pass

6 1 k dollars.
Another all time high price.
Next stop 7 2 k.

[nullius]

bitcoin down over $1000! is this the start of a bear market?

Quick search of post history & I can see the username matches (I’m not sure if you belong with elite gentlemen in the WO. The Altcoin sub called, it’s missing its brokedummy).

Why waste time searching post history, when the lusername says it all?

Other than amusement, of course.


fscking dollar bull.  The dollar is up to 1671 sats, struggling to stay over the psychological 1666 sat threshold.  It won’t stay up.  DuPM!!!11 your dollars!

[samson]

Here's another. Color me a Saylor fanboy. He gets it.

https://www.youtube.com/watch?v=HkkXCoAVnX8

 He really gets it.

Nice White-power symbol...

Are you new here? That's the WO sign.

 Sorry I took so long to reply to the question and thanks for clarifying in my absence.
 I was at an outdoor party, in a group of less than 10 people, socially distancing and wearing masks while trying to eat our food before it was either blown away or frozen by the gale-force winds @ 0°C.  The saddest part was watching my mom try to keep a solitary candle lit in those winds long enough for us to sing "Happy Birthday" to her before blowing it out (it was not on the cake per the covid regulations).  She did not succeed and nobody was in the mood for a third attempt after rushing the song for the second attempt. As unbelievable as that sounds, you'll never guess what kind of cake mom wanted... an ice cream cake!  At least we were able to take our time eating it since there was no chance of it melting until Wednesday at the earliest.  I'm pretty sure the end times are near.

Anyway... I should have done this in the first place:
 

Interesting, I wonder if Proudhon is Michael Saylor 

[vapourminer]

under 60k USD.. poor again

anyone what to go in on a pallet of ramen noodles?