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

[JimboToronto]

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless.

I don't have any immediate plans to sell a big chunck of my stash - I'll just dip into it as needed.

Go Bitcoin go!

Welcome to the club.

Living happily ever after is fun and easy.

Oscar Wilde: "Work is the curse of the drinking class."

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[proudhon]

Calling it now. New ATH on Saturday $67K.

Math and science.

Confirmed

False confirm.

[Biodom]

NFT garbage scam going full on retard now:

The World’s First NFT House Is Now for Sale
https://www.yahoo.com/lifestyle/world-first-nft-house-now-230000169.html

   

So it's an imaginary ownership of a factitious house.

Wow. Seems legit.
The SEC are going to have a field day on these idiots who are actually buying up these items thinking they are being hip and in the now for crypto.
Little do they realize everything can come crumbling down on their heads if ethereum (the chain they are being traded on) comes to a dismal end for whatever reason their developers claim to have happened whether it be a hack, a crack or a rack.
You who are in the know on cryptoisms are on to what I am am saying.

Look, I stole a NFT with this code I wrote

Code:

Ctrl+C  Ctrl+V

Not any more that copy of bitcoin "coin" image is bitcoin.
Not everybody understands art anyway, I am not a connoisseur myself either, but some WILL be valuable.
It's just very difficult to say which one would be.
I still think that @xhomerx10 should make WO hats into an NFT (see my prior post) and who knows, maybe more nfts will come out of here eventually.

 I saw your post about that while working night shifts.  Honestly, I don't know anything about NFTs or how you would make and profit from hats as NFTs - guess I have to do some research!

Sure, but start with the end result (albeit, I doubt it would be THAT much now, maybe in 100 years as a part of a "legend of WO"):
https://www.nytimes.com/2021/02/24/arts/design/christies-beeple-nft.html
How to make nfts out of images:
https://www.youtube.com/watch?v=zZvHfB3NC8w
EDIT: a more detailed article:
https://www.coindesk.com/how-to-create-buy-sell-nfts

I think that it could be interesting (with lots of caveats).

[Sayeds56]

I think that NFTs are awesome.  Not necessarily the particular NFTs being making headline trades right now—many of those are stupid; but then, many uses of Bitcoin have been stupid (especially early on).  Nonetheless, the concept is awesome.

[...]

To this we agree. I also think the concept of NFTs is awesome. But I'm not quite sure about the current execution of the idea—I only started looking into it literally days ago. It does look like an ideal way for art/content makers to monetize their creations.

How about buying some art pieces now for $0.06, and selling them in a few years for $millions?^* Here's something for all of us to think about.

* Why do I get a sense that I'll be reading this post in 10 years' time and be filled with regret and bitterness?

There is lot of discussion about NFTs on crypto space nowadays but honestly speaking I have not been able to understand their real use case other than Art collection. The Hype in this sector has been created by Mainstream celebrities like Paul  and it will continue for how long that remains to be seen. The early birds in this sector have already booked Huge gains but who enter at this stage when the Market Hype is on its Peak , I am afraid they will be losers.

https://www.forbes.com/sites/abrambrown/2021/02/26/what-is-an-nft-and-should-you-buy-one/?sh=676ffa5024b2

[siggy_77]

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless.

I don't have any immediate plans to sell a big chunck of my stash - I'll just dip into it as needed.

Go Bitcoin go!

I think this might be becoming a thing... my last day is April 2nd..  officially retiring early.  Sold a smallish chunk to diversify so that if we have an 80% crash, I can ride it out without selling the dip... but yeah.. mostly the same plan.   good feelings

[lightfoot]

I'm still working, mostly because it's funny to not really care and be truly honest with people. And let's face it: I am too lazy to try and figure out how to sign up for my own health care.

So far they are thinking of promoting me, which would be bad.

Yes, Office Space is oddly accurate.

[BobLawblaw]

The sweet smell of liquidation?

Hate to see it happen.

[Biodom]

I'm still working, mostly because it's funny to not really care and be truly honest with people. And let's face it: I am too lazy to try and figure out how to sign up for my own health care.

So far they are thinking of promoting me, which would be bad.

Yes, Office Space is oddly accurate.

I decided not to seek any promotion as well, but re medical: it is prohibitively expensive to get one because they count LAST year wages to see if you qualify for ACA subsidies, and if you earned a decent amount-forget about it (unsubsidized ACA is a b-word).
Barring some truly crazy numbers from btc, I might still work until around 65, give or take (if i live that long, of course).
A small anecdote of a complete f-kup at our org: admin decided to institute a 12% decrease in total compensation. Yes, a decrease.
On a top of this, there were NO raises in the last 20 mo for everyone, but admin.
Add the dictat by law saying that we cannot unionize, everything is the opposite of peachy with absolutely no recourse.

Bitcoin to the rescue.

[JimboToronto]

False confirm.

Must avoid false confirmation:

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless.

I don't have any immediate plans to sell a big chunck of my stash - I'll just dip into it as needed.

Go Bitcoin go!

I think this might be becoming a thing... my last day is April 2nd..  officially retiring early.  Sold a smallish chunk to diversify so that if we have an 80% crash, I can ride it out without selling the dip... but yeah.. mostly the same plan.   good feelings

Congrats to you too.

Remember when being a Bitcoin millionaire was a thing?

Now it's being a Bitcoin retiree.

[Syke]

There is lot of discussion about NFTs on crypto space nowadays but honestly speaking I have not been able to understand their real use case other than Art collection. The Hype in this sector has been created by Mainstream celebrities like Paul  and it will continue for how long that remains to be seen. The early birds in this sector have already booked Huge gains but who enter at this stage when the Market Hype is on its Peak , I am afraid they will be losers.

They seem fundamentally flawed to me. They don't store the art. They just store a URL to the art. Eventually the link will error 404 and the token will be useless.

[d_eddie]

And get this:  NFTs are not in competition with Bitcoin!  Bitcoin is a currency; it is supposed to be fungible, and I defend Bitcoin’s fungibility.  Non-Fungible Tokens are, of course, not fungible.  They are not supposed to be a currency.  Why are some Bitcoiners getting bent out of shape about this?  Just because NFTs run on generalized smart-contract chains,⁰ which Bitcoin is not?

Assuming a 100% fungible bitcoin (which is still not the case - which I must concur is unfortunate enough), it is simple enough to add a level of non-fungibility, and as Elwar has pointed out several times, it has been done with colored coins. However, they came at a time when bitcoin still had to "prove" itself - so to say - to the normies, so the focus was elsewhere.

NFTs apply cryptography for a new use case.  A very useful use case.¹  They have created a new asset class that improves on the properties of similar, older asset classes, just as Bitcoin created a new kind of money that improves on the properties of older monies.

Indeed. I can see a possible bright future for NFTs - including colored bitcoins, which I won't even mention from now on - they perfectly match the definition, so are included in the discussion; indeed, they've been the first of all NFTs. These tokens can be used to create unforgeable, easy to verify titles of ownership. These titles would not be restricted to digital items. On the contrary, I see the digital use case as more remote and less interesting for the time being.

Personally, here are a few use cases I would love to see implemented.

- Stock certificates. Once, certificates were ubiquitous, and you didn't "own" a stock until you had the paper in your hands. Now you can't really "own" a stock. It's just an entry in a ledger, and the broker/custodian is the only entity that can actually do some things with the stock, such as lending it to a margin shorter. If stock certificates were digitized by NFTs, naked shorters would have a hard time, as auditing would be quick and easy. With NFTs based on a permissionless blockchain, an additional property of auditing would be: available for anyone to see.

- Gold. The problem here would be matching ingot and NFT at the source, of course. But the total amount of NFT (and therefore, of ingot) would be much easier to... again, audit. Bye bye, paper gold.

Of course, real estate etc. could also benefit from something similar, although re-hypothecation of RE is much less of a problem in practice.

I agree that the following points are moot, and mostly come from lack of understanding.

• “It’s a Ponzi.” ✔
• “The scarcity is artificial.  Anyone can make perfect copies of it.” ✔
• “Drug dealers will use it to launder money.” ✔
• “Those fools will be burned when it is shut down by regulators (SEC, et al.).”² ✔

With one exception: “The scarcity is artificial.  Anyone can make perfect copies of it.”

The scarcity of ownership is artificial, but it's as real as physical scarcity. There can only be one owner. So this point is moot/baseless too, BUT my objection pertains to those goods where ownership is not needed to be able to enjoy the good. As in, picture files, digital music or similar items. The issue here is enforcing DRM based on NFTs. This could be a thing, right, but then apart from the technical details, the creator, too, should be prevented from making additional copies ("reprints") of the creation. So you release, say, a tune as a NFT, and as a consequence no radio can legally broadcast it? Or can they? You sure shouldn't be allowed to release more "declassified" copies, or you are "inflating" the supply. Or I can use the song even if I don't "own" my copy's NFT? So you decide once and for all how many copies you are releasing? Shaky technical terrain. Shakier legal terrain. IANAL. Some legislation will be needed. No, not the SEC, that's right.

[Searing]

I'm still working, mostly because it's funny to not really care and be truly honest with people. And let's face it: I am too lazy to try and figure out how to sign up for my own health care.

So far they are thinking of promoting me, which would be bad.

Yes, Office Space is oddly accurate.

I can't work for anyone anymore...just can't....after retirement...I can live my 2x my modest previous lifestyle with no debt and get another 1.4k this summer from

soc sec...this is off of 'traditional' investments...I would have to take up a life of crime...


but only use BTC if I need to for medical emergencies or something else...but 'essentially' if you can get by without....that's the way to go...HODL.

It is damn hard to 'suddenly' stop HODL'ing when Morgan Stanely today just announced for their elite over $2 million customers,

they will 'allow' them in their private BTC club...with Morgan Stanely...newbies come in all shapes and wealth...

sheesh...

https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html

has to be working with so much angst/fear wealthy among the above..in their rush and FOMO to get some BTC...

I wonder how much morgan Stanley is sticking them with for their services...dumb asses...

brad

[Biodom]

I'm still working, mostly because it's funny to not really care and be truly honest with people. And let's face it: I am too lazy to try and figure out how to sign up for my own health care.

So far they are thinking of promoting me, which would be bad.

Yes, Office Space is oddly accurate.

I can't work for anyone anymore...just can't....after retirement...I can live my 2x my modest previous lifestyle with no debt and get another 1.4k this summer from

soc sec...this is off of 'traditional' investments...I would have to take up a life of crime...


but only use BTC if I need to for medical emergencies or something else...but 'essentially' if you can get by without....that's the way to go...HODL.

It is damn hard to 'suddenly' stop HODL'ing when Morgan Stanely today just announced for their elite over $2 million customers,

they will 'allow' them in their private BTC club...with Morgan Stanely...newbies come in all shapes and wealth...

sheesh...

https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html

has to be working with so much angst/fear wealthy among the above..in their rush and FOMO to get some BTC...

I wonder how much morgan Stanley is sticking them with for their services...dumb asses...

brad

True dat.

Re wealthy clients...if they start with already a LOT of money, they will surely get more, while if you start right here with a modest investment, your upside is probably limited to 10-100X
It is not very little, especially the latter number, but it is not millions of %. That ship has sailed.
BTW, I think that all this harking against shitcoins misses one point: it is advisable to invest SMALL amounts of money in all kinds of seemingly crazy crypto projects.
That's what venture investors do with early companies and they have great returns (on average).
Maybe limit it to 1% (in total), so 10 projects at 0.1% or whatever.
You are not going to miss that 1%, especially with btc going up at about 200% average, but you can possibly hit something special as far as returns are concerned.

That said, crypto projects now learned the worst habits of regular companies and instead of distributing a significant chunk in the first round, they are holding back 90-95% with a gigantic pre-mine going to insiders.
Starting here, I would mostly stay away. There are hundreds of projects again with very bad tokenomics.

Sticking to bitcoin makes sense.

[d_eddie]

False confirm.

Must avoid false confirmation:

How caring, to check how women dress (not men, oh dear, of course) before they do something they might regret. The poor young ladies risk a personal punitive lightning thunder or something even worse, such as the confirmation getting unconfirmed.

[somac.]

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless.

I don't have any immediate plans to sell a big chunck of my stash - I'll just dip into it as needed.

Go Bitcoin go!

I think this might be becoming a thing... my last day is April 2nd..  officially retiring early.  Sold a smallish chunk to diversify so that if we have an 80% crash, I can ride it out without selling the dip... but yeah.. mostly the same plan.   good feelings

Definitely good to see people freeing themselves from slavery via BTC.

I can retire myself, but my employer is currently going through a large round of layoffs, so I'll be getting redundancy later on this year. Free money is free money, so I can wait.

[Biodom]

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless.

I don't have any immediate plans to sell a big chunck of my stash - I'll just dip into it as needed.

Go Bitcoin go!

I think this might be becoming a thing... my last day is April 2nd..  officially retiring early.  Sold a smallish chunk to diversify so that if we have an 80% crash, I can ride it out without selling the dip... but yeah.. mostly the same plan.   good feelings

Definitely good to see people freeing themselves from slavery via BTC.

I can retire myself, but my employer is currently going through a large round of layoffs, so I'll be getting redundancy later on this year. Free money is free money, so I can wait.

It's nice to get 6-12 mo of free money.
I haven't decided yet.

[AlcoHoDL]

I'm still working, mostly because it's funny to not really care and be truly honest with people. And let's face it: I am too lazy to try and figure out how to sign up for my own health care.

So far they are thinking of promoting me, which would be bad.

Yes, Office Space is oddly accurate.

The health care issue is what's keeping me from retiring early too, and also the fact that I love what I do and would even be willing to pay to do it. The only negative aspect of employment for me is the fact that I belong to the usual "master-slave" hierarchy, formally at least, and this somewhat limits my freedom. It's more of a psychological thing though, I can't say I feel any serious pressure to do things I don't want to do. I'm happy and I don't really mind keeping things as they stand at the moment. But things can change, and the recent Bitcoin price appreciation, as well as the S2F model's predicted gigantic gains, will surely put things in a different perspective.

Health issues can, and will happen, and we'd better be prepared when they do. Being health-uninsured is a dangerous thing. If something really serious happens, it may not always be easy or desirable to liquidate some of your hard-earned-and-HeDL coins to cover the expenses. I've heard stories of people getting hospitalised due to accidents and ending up having to pay really huge amounts of money in health costs due to being uninsured.

[Heater]

I have offically joined the ranks of retired WO gentleman. Working just seems kinda pointless.

I don't have any immediate plans to sell a big chunck of my stash - I'll just dip into it as needed.

Go Bitcoin go!

I think this might be becoming a thing... my last day is April 2nd..  officially retiring early.  Sold a smallish chunk to diversify so that if we have an 80% crash, I can ride it out without selling the dip... but yeah.. mostly the same plan.   good feelings

Definitely good to see people freeing themselves from slavery via BTC.

I can retire myself, but my employer is currently going through a large round of layoffs, so I'll be getting redundancy later on this year. Free money is free money, so I can wait.

It's nice to get 6-12 mo of free money.
I haven't decided yet.

It took me a long time to come to the realisation that it was time to pack it in.
I never thought I could retire this 'young' but here we are.

[bitebits]

https://panteracapital.medium.com/bitcoin-coming-of-age-39d5f5fec374

We’ll see much higher prices before this cycle is over.

[Phil_S]

So you decide once and for all how many copies you are releasing? Shaky technical terrain. Shakier legal terrain.

In the world of actual (not digital) goods, it happens all the time.

Like they might release a limited-edition of only 500 copies of something.



But creating such artificial scarcity for digital goods? I doubt they are even trying to do that...

They are selling "digital certificates of digital ownership"... But who needs that shit?