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

[vapourminer]

We know the stimmy was $1400 - Please tell us you spent the rest on steaks and beer. 

Didn't need a stimmy. Does not feel right asking for one.

Not even if you're a taxpayer?

above a certain income you dont get them. im thinking bob is a wee bit past that amount.

[1714721772]

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[vapourminer]

Good morning WO!
Observing @ $55,920

bleh.

so much for the much vaunted "stimmy checks to btc" theory.

more like those who didnt get stimmy checks took that amount out of their btc holdings for one reason or another to make up for it.

i call this new theory "the proudhon theory" (with an assist from mindrust).

[_javi_]

check out this joke: https://www.ebay.com/itm/EVGA-3080-FTW3-Ultra-Opened-Box-Sale-Individual-Contents/164766631285
someone is dissing buying bots

What does the profit on GPU mining look like at the moment? Any hopes it will calm down soon? I just want to get an upgrade so I can play Cyberpunk decently.

 Not a chance in hell.  Chip shortage until 2022.  Best I can find available around here since Early January is the 1660 Super but I doubt that would give you a great Cyberpunk experience.

I think there will be a flood of cheap gpus for sale by next july, when ETH activates EIP1559.

Dunno who is still buying and scalping gpus at these prices with such a deadline in close sight...

[BobLawblaw]

All my orders got filled down to $56.5k. If we drop below $56k, I'll be loading more powder.

Not sure why number going down.

Oh well.

EDIT: Yeah, see it approaching $56k. Reloaded and next set of orders in place.

[El duderino_]

HODL does not mean Hold On For Dear Life, it's just a misspelling that got instant fame and became a thing.
https://bitcointalk.org/index.php?topic=375643.0

And Fiat does not mean government issued currency, it means government issued currency not backed by an underlying asset.

Aware of that, but it’s a nice term for the word as well 

[Wilhelm]

HODL does not mean Hold On For Dear Life, it's just a misspelling that got instant fame and became a thing.
https://bitcointalk.org/index.php?topic=375643.0

And Fiat does not mean government issued currency, it means government issued currency not backed by an underlying asset.

Correct. I introduced the acronym a long time ago (2013) and it got picked up.
Someone actually traced it back to me which was amazing.

But yes it is a misspelling that I turned into an acronym  

Feel free to use the acronym too   (no homo)

Hi,

   Reading an old thread, are you the person who first came up with the term "Hold on for Dear Life" or had you heard it elsewhere prior to posting it?

https://bitcointalk.org/index.php?topic=375643.msg4029851#msg4029851


Just curious.  

[Krubster]

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

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

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

[AlcoHoDL]

[...]

I have recalled several occasions driving by myself in a fairly spacious luxury car (think of a medium-sized SUV) and then parking in the parking lot next to someone who has a tiny car, but they are fitting a family of 7 (including dog) into a car that really should only sit 4 at most (think of a vw beetle or some small car that might be slightly larger)... and sure, I feel a bit guilty in my thinking that they would fit much more nicely in my car, and I could fit more easily into their car as one person rather than 7, but I still do not exchange cars with them, even though I already realize that it should be quite obvious that I am much better off financially than them, and I am not sure whether they might have more bonding over their ridiculous experiences of fitting so many in their car and hanging out in such proximity that would be quite uncomfortable for me.

[...]

If you did swap your car with theirs, you could be called a truly religious person, not just in name, but in substance, at least as far as Christianity is concerned. Someone once said: "If you have two shirts and your neighbour has none, you are not religious."

Although I'm an atheist, so I don't recognize any god whose teachings I should dogmatically follow, I can understand and sympathize with the situation you're describing above. The world, by its very nature, is an extremely cruel place, and one cannot survive and keep his/her sanity without having to live with, and tolerate such huge imbalances of wants, needs, and ability (or lack thereof) to fulfill them. Communism has attempted to solve the above problem, but we've all seen the consequences... IMHO, in the end, it all comes down to human nature, which is a selfish nature. Whether we like it or not, we are all programmed to survive at all costs.

So, don't feel guilty about not swapping your car with theirs. This is the expected behaviour. If you wish to help the world, just help yourself first (as you've already said), and then you'll be in a better position to help others if you so wish.

Damn, Sunday afternoon, no coffee, and here I am blabbering again...

Got to visit my dear cousin, niece & nephew today (will need to sneak past COVID-19 movement restrictions, hopefully I won't get stopped/fined).

Corn is not doing so well (relatively speaking—are we greedy or what?), the Stimulus Check pump was not even for ants, if it even materialized... Not to worry though, the real pump will come soon, and it won't be for ants. Math & science.

[Richy_T]

above a certain income you dont get them. im thinking bob is a wee bit past that amount.

Capital gains and savings are different from income though.

[Richy_T]

Not sure why number going down.

I think in this case, it's going down because it didn't go up. Lots of "pricing in" of a stimulation bump that never materialized.

Aware of that, but it’s a nice term for the word as well  

Not really as it changes the meaning quite significantly. It's more this: https://www.youtube.com/watch?v=HdNn5TZu6R8&t=1m50s

[d_eddie]

Not sure why number going down.

I think in this case, it's going down because it didn't go up. Lots of "pricing in" of a stimulation bump that never materialized.

It might also be just weekend fuckery. Bring it down while liquidity on exchanges is low, before you buy moar. The buy pressure is all there - it's just not visible on exchanges because most of it is not from retail.

[shahzadafzal]

Not sure why number going down.

I think in this case, it's going down because it didn't go up. Lots of "pricing in" of a stimulation bump that never materialized.

Just placed an order for ants @ $59,999.99

I’m sure from there you guys can take it up.

[JayJuanGee]

Not sure why number going down.

I think in this case, it's going down because it didn't go up. Lots of "pricing in" of a stimulation bump that never materialized.

Wake me up when "we" get below $52k (about 15% correction from our current local top/ATH of $61,782) (if we do?).. .otherwise I am continuing to have some difficulties conceptualizing that "we" be going DOWNity in any significant or meaningful way, beyond mere noises... when prices be staying quite considerably above $52k...

which in other words the degree of supposed DOWNity that is taking place in recent times including about the past week or so remains a BIG so what...

[Karartma1]

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

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

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

[JayJuanGee]

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

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

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

Don't want to get into any of your specifics or your OPsec, but $50 per week for 7 years would have put relatively "small fish(es)" into a decent place... - nearly 22 bitcoin and a value of nearly $1.3 million - with "ONLY" about a $18.5k investment spread over 7 years.

There could have been a problem with anyone to attempt to be consistent in such investing into BTC over the years and even having some sense of frontloading the investment stake could have caused the BTC accumulation levels to become MOAR higher than those listed in the above linkening... and another thing would have been NOT getting shaken from coins at various points along the way - or temptations to sell some of dee lil fiends to try to accumulate more coins and take those selling actions at the wrong time or failing to buy at the right time (getting too greedy or to smart).

Another thing, as we have been discussing is trying to figure out how much is enough coins based on a variety of factors including ongoing volatility and expected volatility - and maybe another doubling or tripling of value could help... which does seem reasonably reachable within this cycle (odds of such may be approaching 30% or greater?  I know some peeps are putting odds of another 2x or 3x or even 5-20x this cycle at greater probabilities than I am assigning, but hey, I really hate counting any chickens before they are hatched - even though I am NOT at all in any kind of disagreement about either the asymmetric nature of the bitcoin bet or that the odds for having "great" upside performance in bitcoin seems to be way higher than any other asset that I can imagine investing into at this time).

[uninterestedparty33]

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

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

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

Don't want to get into any of your specifics or your OPsec, but $50 per week for 7 years would have put relatively "small fish(es)" into a decent place... - nearly 22 bitcoin and a value of nearly $1.3 million - with "ONLY" about a $18.5k investment spread over 7 years.

There could have been a problem with anyone to attempt to be consistent in such investing into BTC over the years and even having some sense of frontloading the investment stake could have caused the BTC accumulation levels to become MOAR higher than those listed in the above linkening... and another thing would have been NOT getting shaken from coins at various points along the way - or temptations to sell some of dee lil fiends to try to accumulate more coins and take those selling actions at the wrong time or failing to buy at the right time (getting too greedy or to smart).

Another thing, as we have been discussing is trying to figure out how much is enough coins based on a variety of factors including ongoing volatility and expected volatility - and maybe another doubling or tripling of value could help... which does seem reasonably reachable within this cycle (odds of such may be approaching 30% or greater?  I know some peeps are putting odds of another 2x or 3x or even 5-20x this cycle at greater probabilities than I am assigning, but hey, I really hate counting any chickens before they are hatched - even though I am NOT at all in any kind of disagreement about either the asymmetric nature of the bitcoin bet or that the odds for having "great" upside performance in bitcoin seems to be way higher than any other asset that I can imagine investing into at this time).

I can't be consistent about brushing my teeth, let alone investing $50 per week or whatever over 7 years.

[philipma1957]

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

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

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

Don't want to get into any of your specifics or your OPsec, but $50 per week for 7 years would have put relatively "small fish(es)" into a decent place... - nearly 22 bitcoin and a value of nearly $1.3 million - with "ONLY" about a $18.5k investment spread over 7 years.

There could have been a problem with anyone to attempt to be consistent in such investing into BTC over the years and even having some sense of frontloading the investment stake could have caused the BTC accumulation levels to become MOAR higher than those listed in the above linkening... and another thing would have been NOT getting shaken from coins at various points along the way - or temptations to sell some of dee lil fiends to try to accumulate more coins and take those selling actions at the wrong time or failing to buy at the right time (getting too greedy or to smart).

Another thing, as we have been discussing is trying to figure out how much is enough coins based on a variety of factors including ongoing volatility and expected volatility - and maybe another doubling or tripling of value could help... which does seem reasonably reachable within this cycle (odds of such may be approaching 30% or greater?  I know some peeps are putting odds of another 2x or 3x or even 5-20x this cycle at greater probabilities than I am assigning, but hey, I really hate counting any chickens before they are hatched - even though I am NOT at all in any kind of disagreement about either the asymmetric nature of the bitcoin bet or that the odds for having "great" upside performance in bitcoin seems to be way higher than any other asset that I can imagine investing into at this time).

I can't be consistent about brushing my teeth, let alone investing $50 per week or whatever over 7 years.

At least you are honest and admit to your limitations.

[Krubster]

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

Your time will come -- probably sooner than later. In fact, anybody with more than 1 BTC will probably be able to retire within 5 years.

It kind of sucks getting older, but when it comes to bitcoin I just want to fast-forward the time -- I can't wait to see how this play out!

[JayJuanGee]

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

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

8+ years later I'm retired with a close to double-digit $million fortune. What an incredible experience it's been.

Congratulations to all of you.

This could be an interesting poll -- who of us has retired thanks to bitcoin?

It's not my time......yet! too small of a fish.

Don't want to get into any of your specifics or your OPsec, but $50 per week for 7 years would have put relatively "small fish(es)" into a decent place... - nearly 22 bitcoin and a value of nearly $1.3 million - with "ONLY" about a $18.5k investment spread over 7 years.

There could have been a problem with anyone to attempt to be consistent in such investing into BTC over the years and even having some sense of frontloading the investment stake could have caused the BTC accumulation levels to become MOAR higher than those listed in the above linkening... and another thing would have been NOT getting shaken from coins at various points along the way - or temptations to sell some of dee lil fiends to try to accumulate more coins and take those selling actions at the wrong time or failing to buy at the right time (getting too greedy or to smart).

Another thing, as we have been discussing is trying to figure out how much is enough coins based on a variety of factors including ongoing volatility and expected volatility - and maybe another doubling or tripling of value could help... which does seem reasonably reachable within this cycle (odds of such may be approaching 30% or greater?  I know some peeps are putting odds of another 2x or 3x or even 5-20x this cycle at greater probabilities than I am assigning, but hey, I really hate counting any chickens before they are hatched - even though I am NOT at all in any kind of disagreement about either the asymmetric nature of the bitcoin bet or that the odds for having "great" upside performance in bitcoin seems to be way higher than any other asset that I can imagine investing into at this time).

I can't be consistent about brushing my teeth, let alone investing $50 per week or whatever over 7 years.

Hahahaha

These are the kinds of thingies that we attempt to learn as we grow our lil selfies UPpity.

In other words, we have capacities to learn practices to discipline ourselves to engage in behaviors that are better for ourselves in the longer term rather than the short term.. like waiting for the two marshmellows rather than eating the one right away.. It is also called delayed gratification in some circles.

I was thinking about another point, too, in terms of someone who may have been able to accumulate somewhere in the ballpark of 20BTC over the last 7 years or more.  Sure, $1 million-ish could generate a passive income of around $3,333 per month if BTC is able to keep its $50k plus value, but it would be difficult to feel assured about that... and gosh, would $3,333 per month be enough.  Frequently, I have argued that it is, especially with a passive income kind of thinking - in terms of NOT having to work but to be able to withdraw that amount every month.

Surely, a more solid grounding would be to use the 208-week moving average which is currently at about $10k, and going up close to $200 per week.

I am considering kinds of BTC price projection plans and some projects that might get put into a trust or something, but then if we currently use 100 BTC to assess the value at $1million, maybe it would still be prudent to withdraw at 10% per year in such a system and to also maybe have a 2% per year fee going to the trust administrator.  That would be $8,333 per month going to the beneficiary (which is ($1million x 10%) / 12 months) and $1,667 per month going to the administrator (which is ($1million x 2%) / 12 months)...  Of course there is a total of $10k passive income being generated at these levels, so if the income requirements are much less, then the size of the stash would then be much less, and currently a stash that is 1/3 the size would end up generating a $3,333 monthly income - which would be $10k (208k weekly MA price) x 33 BTC = $333,333k BTC stash value x 12% (allowed withdrawal rate per year - $40k) / 12 months.

Just playing around with some of these ideas and use of a 100 BTC stash, a trust and considering creating a separate thread on the topic at some point... and surely, I do consider the 208-week moving average to continue to go up at a decent pace in the coming years.. but if there were a kind of program that were to be created using those kinds of evaluations could be quite interesting for some of us trying to figure out what to do with some of our BTC stash (and the likely value that could be generated from such on a regular and ongoing basis).

[lightfoot]

Don't want to get into any of your specifics or your OPsec, but $50 per week for 7 years would have put relatively "small fish(es)" into a decent place... - nearly 22 bitcoin and a value of nearly $1.3 million - with "ONLY" about a $18.5k investment spread over 7 years.

That's enough for me to buy
A trip to France across the seas,
A motorboat and water skis,
Maybe even a foregian car,
A charge account at the corner bar,
Not to mention a scrabble board with letters made of gold!

Props to anyone who recognizes this without searching. Some things don't change.....