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

[somac.]

Ok... what the heck.. here goes.  I plugged in your BTC investing start date for DCA'ing as February 26, 2015, and then I put $20 per week for your amount.  So what do we get? We get that you could have been able to get around 35.6x returns on your DCA way of investing into bitcoin.  Hopefully, whatever you are doing is getting in the ballpark of that...

In retrospect: I should have bought Bitcoin when I first heard about it. But as we say in Dutch: "achteraf kijk je een koe in zijn hol".
But your "35.6x" proves my point: Say you've been buying $20 per week in Bitcoin since February 26, 2015. You now have 6.28 BTC. If you continue buying this way, you add 0.03087 BTC per year (at current price). Compared to the 6.28 BTC you have already, I call that dust. What's the point in adding less than 0.5% per year?
That's why I'm not buying nor selling (other than what I need to pay taxes). If you're not into Bitcoin yet, this would probably still be a good strategy to start now. I recently found a (Dutch) finance blog that mentioned this too (I think it was €20 per month).

I tell you what the point of buying that amount is, it's called savings.

Any money from ones labor that is not needed for covering ones needs should be put into savings for the future. Traditional savings were done in fiat in bank accounts, but now, we have BTC. So if earning an income from labor and have money left over after expenses each week, where is the best place to put it?

I say in BTC, even if the amounts you refer to as dust are low. My reason for this is that in the long term I don't want to lose purchasing power of any of my excess labor, which is guaranteed in fiat.

[El duderino_]

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[vapourminer]

chartbuddy firewall

phil must be on break or something

[alevlaslo]

[ChartBuddy]

Explanation

[Dabs]

Ok... what the heck.. here goes.  I plugged in your BTC investing start date for DCA'ing as February 26, 2015, and then I put $20 per week for your amount.  So what do we get? We get that you could have been able to get around 35.6x returns on your DCA way of investing into bitcoin.  Hopefully, whatever you are doing is getting in the ballpark of that...

In retrospect: I should have bought Bitcoin when I first heard about it. But as we say in Dutch: "achteraf kijk je een koe in zijn hol".
But your "35.6x" proves my point: Say you've been buying $20 per week in Bitcoin since February 26, 2015. You now have 6.28 BTC. If you continue buying this way, you add 0.03087 BTC per year (at current price). Compared to the 6.28 BTC you have already, I call that dust. What's the point in adding less than 0.5% per year?
That's why I'm not buying nor selling (other than what I need to pay taxes). If you're not into Bitcoin yet, this would probably still be a good strategy to start now. I recently found a (Dutch) finance blog that mentioned this too (I think it was €20 per month).

I tell you what the point of buying that amount is, it's called savings.

Any money from ones labor that is not needed for covering ones needs should be put into savings for the future. Traditional savings were done in fiat in bank accounts, but now, we have BTC. So if earning an income from labor and have money left over after expenses each week, where is the best place to put it?

I say in BTC, even if the amounts you refer to as dust are low. My reason for this is that in the long term I don't want to lose purchasing power of any of my excess labor, which is guaranteed in fiat.

Do remember, that would only make sense once your fiat savings has reached above a certain point which most people would call "emergency funds" which can be used in case of ... emergencies, which are not part of your regular expense budget.

That is, if you still live in a fiat world, which most of us do, then you'd only put into BTC any excess considering volatility. There is advice out there to have an emergency fund of between 3 to 6 months worth of expenses, in case you lose your primary source of income or some medical emergency happens that is not covered by your health insurance / government.

When you have money you think you won't need within the next 6 months (or maybe up to year) then yes, putting all that excess into BTC would make a lot of sense.

Of course, some of us actually have our funds already in BTC, so ... I guess just keep it there unless you need to spend it.

[somac.]

Ok... what the heck.. here goes.  I plugged in your BTC investing start date for DCA'ing as February 26, 2015, and then I put $20 per week for your amount.  So what do we get? We get that you could have been able to get around 35.6x returns on your DCA way of investing into bitcoin.  Hopefully, whatever you are doing is getting in the ballpark of that...

In retrospect: I should have bought Bitcoin when I first heard about it. But as we say in Dutch: "achteraf kijk je een koe in zijn hol".
But your "35.6x" proves my point: Say you've been buying $20 per week in Bitcoin since February 26, 2015. You now have 6.28 BTC. If you continue buying this way, you add 0.03087 BTC per year (at current price). Compared to the 6.28 BTC you have already, I call that dust. What's the point in adding less than 0.5% per year?
That's why I'm not buying nor selling (other than what I need to pay taxes). If you're not into Bitcoin yet, this would probably still be a good strategy to start now. I recently found a (Dutch) finance blog that mentioned this too (I think it was €20 per month).

I tell you what the point of buying that amount is, it's called savings.

Any money from ones labor that is not needed for covering ones needs should be put into savings for the future. Traditional savings were done in fiat in bank accounts, but now, we have BTC. So if earning an income from labor and have money left over after expenses each week, where is the best place to put it?

I say in BTC, even if the amounts you refer to as dust are low. My reason for this is that in the long term I don't want to lose purchasing power of any of my excess labor, which is guaranteed in fiat.

Do remember, that would only make sense once your fiat savings has reached above a certain point which most people would call "emergency funds" which can be used in case of ... emergencies, which are not part of your regular expense budget.

That is, if you still live in a fiat world, which most of us do, then you'd only put into BTC any excess considering volatility. There is advice out there to have an emergency fund of between 3 to 6 months worth of expenses, in case you lose your primary source of income or some medical emergency happens that is not covered by your health insurance / government.

When you have money you think you won't need within the next 6 months (or maybe up to year) then yes, putting all that excess into BTC would make a lot of sense.

Of course, some of us actually have our funds already in BTC, so ... I guess just keep it there unless you need to spend it.

Yes, a good point and something I should have mentioned.

[philipma1957]

chartbuddy firewall

phil must be on break or something

have to sleep

[vapourminer]

chartbuddy firewall

phil must be on break or something

have to sleep

oh i though you had some program/bot that monitors chartbuddy and pings your phone everytime it posts here.


i feel scared now that i know we dont have 24/7 coverage of the forum apocalypse or something if chartbuddy gets a 3 bagger.

[philipma1957]

chartbuddy firewall

phil must be on break or something

have to sleep

oh i though you had some program/bot that monitors chartbuddy and pings your phone everytime it posts here.


i feel scared now that i know we dont have 24/7 coverage of the forum apocalypse or something if chartbuddy gets a 3 bagger.

he did get a three bagger. I think twice.

I do the best I can to keep him at bay manually.

Freaking diff is dropping I am getting offers from Chinese miners to buy gear at okay prices.

Which is hopeful since it means the diff may recoup.

[ChartBuddy]

Explanation

[philipma1957]

this is interesting


https://www.coindesk.com/bitmain-bitcoin-mining-china-sales-mining-machines


it may mean dropping diff will continue.

much like the 1930's with farmers burning crops to raise prices.

[vapourminer]

this is interesting

https://www.coindesk.com/bitmain-bitcoin-mining-china-sales-mining-machines

it may mean dropping diff will continue.

much like the 1930's with farmers burning crops to raise prices.

so they arent selling new BTC asics but still are still selling altcoin mining gear.

bitmains apparently still making new sha256 gear though. just says not selling.
https://www.bloomberg.com/news/articles/2021-06-23/world-s-top-bitcoin-mining-rig-maker-halts-sales-as-clients-flee

ergo, new gear is being set aside for the big 51% attack.

/s<sup>*








*</sup>well hopefully

[ChartBuddy]

Explanation

[JimboToronto]

Good morning Bitcoinland.

After Monday's little flash dip we're back in the mid-$3xxxx range... currently $34092USD/$41901CAD (Bitcoinaverage).

Who sold for <$30k? 

Rick put in his resignation on Monday  

Coincidentally, also broke ground on our ranch on Monday as well.

its_happening.gif

Too busy in meatspace to hang around here as much as I used to, but I miss you guys

Living happily ever after can be time-consuming, can't it?

[Dabs]

ChartBuddy should have a "check forum, if posted already twice in a row, don't post and just skip, ... post the next one" ... but then we'd miss a few.

[BobLawblaw]

Happy for ya mate! Mind sharing your twitter? I'd love to follow ya

I can't, brother I'm sorry. I would, but the account is low-key linked to my meatself, and would be an egregious violation of my own opsec.

Hint: I have #Bitcoin in my bio. You guys are free to try to "find me", but I won't ever admit it's me.

#FreeYellow

[Elwar]

Happy for ya mate! Mind sharing your twitter? I'd love to follow ya

I can't, brother I'm sorry. I would, but the account is low-key linked to my meatself, and would be an egregious violation of my own opsec.

Hint: I have #Bitcoin in my bio. You guys are free to try to "find me", but I won't ever admit it's me.

#FreeYellow

Found you. @elonmusk

Oh... I see you deleted the #Bitcoin tag.