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

[Dabs]

you: What year is it?
mad scientist that woke you up: oh, it's about a few thousand years since you died, does the year matter? gimme my 1 bitcoin, it's worth $100 billion today. Enough for me to buy a week's worth of bread. After you, I have a bunch of dead bitcoiners to wake up too, you're the 200th one, don't worry.

You: What a bleak future. No more than 21 million weeks' worth of bread on the planet! How many humans left?

That's actually a bright future, if you are assuming all currency or goods can only be bought with bitcoins. That means bitcoin took over all monetary systems already.

[1715420072]

1715420072

[1715420072]

1715420072

[BitcoinBunny]

CATASTROPHIC

RUN FOR YOUR FUCKING LIVES

Aaah, the good old days haha

I remember trolling the fuck out of the Bitcoin community along with NotLambChop and JorgeStolfi...
It's sad that those 2 fucks fell for their own FUD in the end.

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been. Traded so many shitcoins I thought I would end up broke.

Congrats to everyone who made it.

You're sending this from the year 2023+ in the future?
What's BTC worth?
 

Congrats btw.

[Dabs]

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been. Traded so many shitcoins I thought I would end up broke.

Congrats to everyone who made it.

Congrats. You should be able to live the rest of your life very comfortably even if nothing else happens from now. $5m invested in "safe" investments will return at least $200k per year on 4%. Your double digit fortune should probably and likely will triple or more in the years to come, if they are still in bitcoin.

At this point, it's a very good idea to just HODL as much as you can, maybe cash out what you think you need for the next couple of years or more, and live within that budget.

[d_eddie]

Copyright law already covers this. NFTs are not only unnecessary, but not recognized by law. They bring nothing necessary that is missing to the table. And introduce new problems that don't exist.

Another solution looking for a problem that either doesn't exist, or is not really a problem.

^{(I'm gonna go out on a limb and just say it: young people are naive and stupid for believing in this NFT shitscam.)}

I think NFTs could ease and lubricate the trade of original limited edition art - but only for the traders: people who invest in art for its transfer of value over time. The enjoyment of said art is totally out of the equation here, which sounds a little weird when speaking about art. Besides, the applicability of these tokens to mass market production such as digital music or desktop pictures seems dubious at least.

More useful if it comes to adoption for other physical/semi-physical assets: stocks and gold are prime examples, as I said. Wherever re-hypothecation can be a problem. The tech should be much more refined to allow the tracking of each "item" (be it a single stock ar a specific ingot) singularly and in batches in a mathematically clever way.

Interesting times ahead, gentlemen.

[Richy_T]

As for the term "Life Insurance", I interpret it as a pension (a lump sum and/or monthly payment) after a certain age, say, 60 y/o.

Life insurance presented as investments are typically really bad at being investments. Better to buy pure insurance and invest the difference. You don't expect car insurance to buy you a new car, after all.

[d_eddie]

you: What year is it?
mad scientist that woke you up: oh, it's about a few thousand years since you died, does the year matter? gimme my 1 bitcoin, it's worth $100 billion today. Enough for me to buy a week's worth of bread. After you, I have a bunch of dead bitcoiners to wake up too, you're the 200th one, don't worry.

You: What a bleak future. No more than 21 million weeks' worth of bread on the planet! How many humans left?

That's actually a bright future, if you are assuming all currency or goods can only be bought with bitcoins. That means bitcoin took over all monetary systems already.

Yes, a wild financial assumption. It is unimportant to know how much it turns out to be when expressed in dollars. What matters is the total economic output of humanity as it relates to 21 million coins. Let's assume you can also buy things with dollars, or gold, or salt, or water. Let's assume the weeks' worth on bread on the planet are 21 billion instead - or 210. Do these assumptions change the picture much?

[BitcoinBunny]

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been. Traded so many shitcoins I thought I would end up broke.

Congrats to everyone who made it.

Congrats. You should be able to live the rest of your life very comfortably even if nothing else happens from now. $5m invested in "safe" investments will return at least $200k per year on 4%. Your double digit fortune should probably and likely will triple or more in the years to come, if they are still in bitcoin.

I see people mention such high interest rate figures here but nothing seems "safe" to me except for perhaps a property portfolio and protected banks only pay 0.5% if you are lucky.

[Richy_T]

You know it's surprising how many people still approach me with the alt coin story "My mate had a buddy say Hex is the next big thing so do you think..."

This is my friend every time we speak. Unfortunately some of his other friends made (or claim to have made) a bunch of money on Bitcoin before messing with the alts so have some superficial credibility. I've tried to explain the pump & dump nature of alts (and how there are more than seven thousand of them so I don't really have any opinion on more than a handful [and most of that is bad]) but I think he only got the message when he got his fingers burnt.

[Dabs]

As for the term "Life Insurance", I interpret it as a pension (a lump sum and/or monthly payment) after a certain age, say, 60 y/o.

Life insurance presented as investments are typically really bad at being investments. Better to buy pure insurance and invest the difference. You don't expect car insurance to buy you a new car, after all.

Term Life is what I got. I used to work in the insurance industry many years ago, and we got a crash course in the stuff that is normally offered, plus the advice of my own dad, he said, just get term life to cover anything such as children's expenses / education.

Once we all graduated and got our useless degrees, my dad stopped his term life insurance and said, if anything happens to him, we are on our own, he got us this far already.


As for vehicle insurance, there are some policies that will replace the car if you total it or for theft. The premium is also higher. I've had the unfortunate incident of having a pickup stolen in broad daylight parked in a large mall. The insurance company could not replace it with an identical model, but gave us the 4WD version of it, so we got an upgrade actually.

But lost are all the contents of that car as well (not much, but still, some personal items in the glove box maybe.)

[Dabs]

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been. Traded so many shitcoins I thought I would end up broke.

Congrats to everyone who made it.

Congrats. You should be able to live the rest of your life very comfortably even if nothing else happens from now. $5m invested in "safe" investments will return at least $200k per year on 4%. Your double digit fortune should probably and likely will triple or more in the years to come, if they are still in bitcoin.

I see people mention such high interest rate figures here but nothing seems "safe" to me except for perhaps a property portfolio and protected banks only pay 0.5% if you are lucky.

4% is the oft-considered SWR or Safe Withdrawal Rate. It's based on a study by some folks from Trinity University studying stock market returns and backtesting them over 30 year periods. They used historical data from 1926-2009 and tested various rolling periods (i.e. for 30-year retirements, they tested 1926-1955, 1927-1958, 1928-1957,…,1980-2009).

Basically, the 4% applies to a 60/40 equities/bonds ratio portfolio, typically the S&P 500 or the Total Stock Market Funds and bonds, typically all US. Some do global or international.

Here is a favorite calculator to play with: https://firecalc.com/

The default values there imply a 95% success rate starting with $750k and withdrawing $30k per year for 30 years.

[shahzadafzal]

Dont swing trade! 

Sauce?

Source or sauce?

https://www.google.com/search?q=sauce+instead+of+source&rlz=1CDGOYI_enAE928AE928&oq=sa&aqs=chrome.1.69i60j69i59l2j69i60l2j69i65.2136j0j4&hl=en-US&sourceid=chrome-mobile&ie=UTF-8

[Karartma1]

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been. Traded so many shitcoins I thought I would end up broke.

Congrats to everyone who made it.

Congrats. You should be able to live the rest of your life very comfortably even if nothing else happens from now. $5m invested in "safe" investments will return at least $200k per year on 4%. Your double digit fortune should probably and likely will triple or more in the years to come, if they are still in bitcoin.

I see people mention such high interest rate figures here but nothing seems "safe" to me except for perhaps a property portfolio and protected banks only pay 0.5% if you are lucky.

4% is the oft-considered SWR or Safe Withdrawal Rate. It's based on a study by some folks from Trinity University studying stock market returns and backtesting them over 30 year periods. They used historical data from 1926-2009 and tested various rolling periods (i.e. for 30-year retirements, they tested 1926-1955, 1927-1958, 1928-1957,…,1980-2009).

Basically, the 4% applies to a 60/40 equities/bonds ratio portfolio, typically the S&P 500 or the Total Stock Market Funds and bonds, typically all US. Some do global or international.

Here is a favorite calculator to play with: https://firecalc.com/

The default values there imply a 95% success rate starting with $750k and withdrawing $30k per year for 30 years.

Fantastic! Thanks man! Merit him I'm poor.

[BitcoinBunny]

Dont swing trade! 

Sauce?

Source or sauce?

https://www.google.com/search?q=sauce+instead+of+source&rlz=1CDGOYI_enAE928AE928&oq=sa&aqs=chrome.1.69i60j69i59l2j69i60l2j69i65.2136j0j4&hl=en-US&sourceid=chrome-mobile&ie=UTF-8

In that case Riley Reid but I have no idea which movie/scene.

[Dabs]

We know the ultimate safe haven asset is bitcoin. Soon others will realize this too. However, much of our spending and living expenses will still be paid in fiat. Purse is a nice one, been getting 25% to 33% discounts on everything I put there, I just need to wait patiently for the stuff to arrive.

[Richy_T]

As for vehicle insurance, there are some policies that will replace the car if you total it or for theft. The premium is also higher. I've had the unfortunate incident of having a pickup stolen in broad daylight parked in a large mall. The insurance company could not replace it with an identical model, but gave us the 4WD version of it, so we got an upgrade actually.

True. I should have been more specific that I meant as a general outcome of owning the insurance rather than as a result of loss or damage of the vehicle. I'm still on my first coffee.

[Richy_T]

We know the ultimate safe haven asset is bitcoin. Soon others will realize this too. However, much of our spending and living expenses will still be paid in fiat. Purse is a nice one, been getting 25% to 33% discounts on everything I put there, I just need to wait patiently for the stuff to arrive.

I like purse. Especially lately, it seems that every time I go back for a new purchase, I have the same dollar worth in my account as before I made the last one. I've been having trouble getting the high discounts recently though. Not sure if that is due to the changing price of Bitcoin recently.

[Dabs]

We know the ultimate safe haven asset is bitcoin. Soon others will realize this too. However, much of our spending and living expenses will still be paid in fiat. Purse is a nice one, been getting 25% to 33% discounts on everything I put there, I just need to wait patiently for the stuff to arrive.

I like purse. Especially lately, it seems that every time I go back for a new purchase, I have the same dollar worth in my account as before I made the last one. I've been having trouble getting the high discounts recently though. Not sure if that is due to the changing price of Bitcoin recently.

Here's some recent ones for me:





Hehe... I decided to try an antenna to get some free over the air local TV channels. I don't have cable, only internet, and the live streaming sites don't have much. I had a cheaper antenna before, but only picked up a few channels. See, that antenna got "processed" at 32%, but the kiddie stroller radio flyer thing at 25% is still "waiting for earner".

Just leave it for a few days, someone will pick it up. If you can't wait, lower the discount a bit.

*edit* someone just got the kid stroller thing. "Order Accepted" ... Let's hope he doesn't cancel.

I stopped using it around 2017, and left maybe $20 worth. When I logged in last month, it was $200, so I got some stuff with it, LOL. Then turned on 2FA. Purse hodls for you, but I wouldn't count on it. Still, not your keys ...

[Dirty_Bastard007]

Dont swing trade! 
https://i.redd.it/1fqjf464hum61.jpg

Sauce?

Source or sauce?

https://www.google.com/search?q=sauce+instead+of+source&rlz=1CDGOYI_enAE928AE928&oq=sa&aqs=chrome.1.69i60j69i59l2j69i60l2j69i65.2136j0j4&hl=en-US&sourceid=chrome-mobile&ie=UTF-8

In that case Riley Reid but I have no idea which movie/scene.

I think it might be from one of thesel vr porn sites haha

[Richy_T]

Just leave it for a few days, someone will pick it up. If you can't wait, lower the discount a bit.

*edit* someone just got the kid stroller thing. "Order Accepted" ... Let's hope he doesn't cancel.

I stopped using it around 2017, and left maybe $20 worth. When I logged in last month, it was $200, so I got some stuff with it, LOL. Then turned on 2FA. Purse hodls for you, but I wouldn't count on it. Still, not your keys ...

I usually set it fairly high then depending on urgency, I'll drop it a percent per day. 20% nearly always gets taken quickly. Unfortunately, purse doesn't always calculate taxes correctly so some of the benefit gets lost. You can usually message them to take it off but it gets a bit of a hassle. It might be that my last couple of purchases were fairly low value that meant they weren't as attractive.

We cut the cord many years ago. We don't watch sport and there were only a couple of shows we watched and netflix was good for most stuff and eye-patch wearing took care of the rest. Well worth doing. Though our antenna died about a year ago and we don't miss it much. I still intend to replace it sometime.

[Richy_T]

60 soon?