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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
Total Voters: 62

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26373673 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
Torque
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September 06, 2021, 12:44:28 PM
Merited by JayJuanGee (1)

here is a nice little visual listing of which stores will accept Bitcoin in el salvador starting tomorrow


https://twitter.com/BitcoinMemeHub/status/1434782162742505477?s=19

Umm...I hope those aren't the only stores.

Legal tender is legal tender. Which by law means no store there can turn down bitcoin as accepted payment.
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Torque
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September 06, 2021, 12:53:18 PM
Merited by JayJuanGee (1)

Who in the world like bankers would actually fear something that is "just a scam"?

Ponzi. Scam. Baby brains. Will crash to zero. No intrinsic value.

And yet, mega companies now want to accept it for payment.

Weird, huh?  Roll Eyes
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September 06, 2021, 01:01:27 PM


Explanation
El duderino_
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September 06, 2021, 01:16:28 PM

here is a nice little visual listing of which stores will accept Bitcoin in el salvador starting tomorrow


https://twitter.com/BitcoinMemeHub/status/1434782162742505477?s=19

Umm...I hope those aren't the only stores.

Legal tender is legal tender. Which by law means no store there can turn down bitcoin as accepted payment.

Hmmm I don’t use btc for small payments actually but I would love to go and buy some burgers etc at McD’s and pay with some sats …. Grin
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September 06, 2021, 01:31:10 PM

Legal tender is legal tender. Which by law means no store there can turn down bitcoin as accepted payment.

I've read that it's actually optional, hence I do expect that - especially at start - the huge majority of stores will turn down bitcoin payments (unfortunately).
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September 06, 2021, 02:01:27 PM


Explanation
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September 06, 2021, 02:05:13 PM
Merited by vapourminer (1), cAPSLOCK (1), Elwar (1), jojo69 (1), AlcoHoDL (1), OutOfMemory (1), julian071 (1)

Well, amusingly enough, my horse paste arrived yesterday.

I'm aware of doing the calculations to dose for humans, but not likely to go that route as recovery is steadily and slowly improving.

Also, if I legitimately need Ivermectin, the doc Rick sought out for treatment prescribes the human form, if necessary.

Day 3 this morning. Headaches, gut aches, bodyaches, but thankfully no respiratory issues to report thus far, so feeling really good about that. Lungs are feeling absolutely clear.Bed rest again today. Rick is out running errands and feeling fine, as he fully recovered about two weeks ago - tested negative as a control for my positive test.

Day 1 was just brutal. Have never felt something come on so strong and absolutely lay me out like that.

Also, don't forget to buy at least $30 worth of corn tomorrow, in solidarity with El Salvador. Saylor Tweeted out support for the movement tomorrow as well.

Love, peace, and lube.
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September 06, 2021, 02:22:33 PM
Merited by Torque (1)

here is a nice little visual listing of which stores will accept Bitcoin in el salvador starting tomorrow


https://twitter.com/BitcoinMemeHub/status/1434782162742505477?s=19

I would not be surprised if no big corporation accepts bitcoin in El Salvador. From the tidbits I've seen...at one point the president said that nobody would be forced to accept bitcoin (even though the law says so). I saw one comment saying that article 7 of the law was taken out. I saw yet another article saying that their chamber of commerce was told that all businesses needed to accept it though the companies were fighting it up to the bitter end.

So, what is likely happening is that those big companies are putting their legal teams on the payment thing as opposed to their tech team.

It all comes down to the fact that Bitcoin is a peer to peer money. Corporations are not a peer. They are a huge conglomeration of different people getting different percentages of your purchase. In order for a corporation to get paid in bitcoin (right now) you need a corporation to act as middleman (ie. BitPay) for the company.

One comment I found telling was of someone going into a store to buy something with bitcoin but the owner wasn't there so they had to text the owner and the owner finally sent the payment address.

Are we expecting McDonalds to set up a lightning wallet for their cashier to handle all of the money for that day, and then expect the cashier to make the choice between handing that wallet over to the owners at the end of the day or just quit with more than they would make in a year?

Bitcoin will eventually not only take down governments but also take down corporations. But for now, we're not there yet.

Eventually the "McDonalds" will be a series of smart contracts running the restaurant with an algorithm as the "owner".
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September 06, 2021, 02:27:05 PM
Merited by Elwar (1)

Eventually the "McDonalds" will be a series of smart contracts running the restaurant with an algorithm as the "owner".

And there won't be stand-alone restaurants anymore, only ghost kitchens for delivery. McDonalds et al will only exist as a brand on a phone app.

The future will be a combo of Idiocracy and Wall-E.
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what is this "brake pedal" you speak of?


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September 06, 2021, 02:33:56 PM

Eventually the "McDonalds" will be a series of smart contracts running the restaurant with an algorithm as the "owner".

And there won't be stand-alone restaurants anymore, only ghost kitchens for delivery. McDonalds et al will only exist as a brand on a phone app.

The future will be a combo of Idiocracy and Wall-E.

well a Wall-E unit is at least useful for finding discarded stuff. like Ramon noodles and ammo.
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September 06, 2021, 02:37:26 PM

No, the whole point is to keep it decentralised and anonymous. No videos. No KYC. I imagine something more like a guided process tailored towards each individuals needs and knowledge levels. Currently learning about Bitcoin is more of a try-and-see approach.

For whatever reason, I sort of started here, this bitcointalk forum. Maybe I read about it somewhere else, eventually this is the place where I signed up, spent a couple of months just lurking, and where I learned almost everything.

This forum provides some of those requirements: no videos. no KYC. almost anonymous (you can teach them how, and it's not difficult to create alts). But the forum itself is not decentralized.

The alternatives are decentralized platforms which run on top of shitcoin blockchains, such as on BSV (but they store weather data?) or ETH or EOS. I know a few, but it's another step or learning curve or something new to learn, and it's just going to distract them. I'm not sure about other decentralized or lesser known social media platforms, heard of mastodon or something.

IRC is probably the closest to decentralized, but not too many newbies go there, and it's more of a geek thing.

This forum is the next best thing. I think there is a "newbie" section, but I don't know the quality there now. I haven't been a moderator for awhile and like many here, I haven't wandered much away from WO thread. I do check a few others from time to time.
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September 06, 2021, 02:38:06 PM

Eventually the "McDonalds" will be a series of smart contracts running the restaurant with an algorithm as the "owner".

And there won't be stand-alone restaurants anymore, only ghost kitchens for delivery. McDonalds et al will only exist as a brand on a phone app.

The future will be a combo of Idiocracy and Wall-E.

I had that idea for an app and was planning on getting started on it until I looked into laws.

The idea was that home cooks could take orders or have a large meal cooked and put it on the app. People order the food like on any other food app and some delivery service comes and picks it up and delivers it. This would be for people looking to make a bit of extra money, people like my mom who like to make cookies but could never eat as many as she cooks so she just gives them away, people like my wife who can cook a five star meal but don't want to be running a restaurant with all of the headaches that come with it. Or even someone with 3 kids that is cooking a recipe that can easily add 2 or 3 more servings to send off on a delivery for a bit of spending money.

Then I checked the laws in the US and no state allows you to sell food made at home. There are some very limited exceptions such as granola bars or some shit like that.

One more thing to look forward to when it all collapses though. Home delivery of some nice old lady's chocolate cookies and side businesses for the home cooks out there.
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September 06, 2021, 02:41:08 PM

The alternatives are decentralized platforms which run on top of shitcoin blockchains, such as on BSV (but they store weather data?) or ETH or EOS. I know a few, but it's another step or learning curve or something new to learn, and it's just going to distract them. I'm not sure about other decentralized or lesser known social media platforms, heard of mastodon or something.

Check out https://sphinx.chat/ decentralized chat over Lightning Network.
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September 06, 2021, 02:48:51 PM

Oh noes! We crashed down to 51.5k. Better call Proudhon....

No need!  He will show up when we really start falling to like under 60k...
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September 06, 2021, 03:01:37 PM


Explanation
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September 06, 2021, 03:09:22 PM

Buddy, I think it's time for you to dump 51 as she seems to be holding you back from fully expressing your true self. There are other fish numbers in the sea.

Ok, when I say dump, I mean pump obviously.
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September 06, 2021, 03:14:19 PM
Merited by JayJuanGee (1)

Again, I am having troubles understanding where you might be going or wanting to go with this kind of an honorable mention of "our" homie.

Nothing really, as it's just facts and something he has stated publicly, whether that's true or not (but likely true, as there's no reason to lie about holding cash, it's not uncommon.)

As for the rest of your post, I guess it all came about because you treat stablecoins differently than the US dollar. I understand they are completely different, but they are currently valued the same, where one is "as good as cash" but has it's own issues, and the other, I simply use because it's easier to send back and forth to other exchanges that also accept that stablecoin, as you have experienced with Binance / Binance US.

Based on what I can understand from you, other than your dislike or hatred for stablecoins and shitcoins, if you consider the USD as cash, and I'm treating stablecoins as cash, we're simply talking about the same thing with different properties or risks associated with them. I'm not talking about the underlying platform, or yield, or borrowing from BlockFi / Celsius / Nexio / what-ever other lending or borrowing platform.

I think I may have just misunderstood you and apologies for using the term stablecoins when I meant USD; I just happen to be able to use the stablecoin as a proxy for the fiat dollar for general usage purposes. Or rather, I did mean stablecoins and not USD but for almost all practical intents and purposes I see them as similar if not the same. There's more than one to choose, and if using an exchange like Gemini or Circle, they support the more notable ones that aren't in as much danger as say, tether.


As for FU status, your view is a lot more conservative using the 208 WMA, I was just trying to think in terms of the sat stacker who can't get up to 100 BTC starting today and may want to experience "retirement" earlier than attempting to stack 143 or 200 BTC, or even have 30 BTC. These guys want to get as close to, and maybe exceed a little, but not have "too much". It's good, but there are some trains of thought that you don't need beyond a certain amount, so waiting too long might be "wasting" time you can enjoy now doing other things than working for income.

If someone already has other sources of income other than employment, such as other traditional investments, or running a successful business (pretty hard to do during the pandemic), then they may not actually be into retiring from work, or may not see their work as something to quit from anyway.

Some people like what they are doing, get paid for doing it, and don't even get into thinking of retiring in the traditional sense. They can live off their earnings and stack more sats. I believe most current multi-millionaires and billionaires are in this category. They don't need to do anything, but they still do whatever it is they are doing, and can obviously afford to say FU to anyone (not that they do it.)


It's a fine line between achieving FU status and actually living off it. You don't want to get there when you are 80 years old when you could have done it earlier because you insist on being too conservative. (and then dying a year later because you hit average life expectancy age.)

I'd be scared to "retire" even at 65 if I only had $2m USD, but it's one of those things where you just have to take that risk. Or keep working.

As for someone with 30 BTC to spend out of 200, I'd think other than continuing to work because he likes to, he can retire now.


Perhaps the discussion now should be between using 208 WMA * 25 instead of spot price * 30 ? or something in between. I mean, I like looking at 208 WMA, but I think it's too conservative. Some people don't have much time to live, so I guess it also depends on your age now.
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September 06, 2021, 03:35:33 PM
Merited by El duderino_ (2), AlcoHoDL (1)

I'd be scared to "retire" even at 65 if I only had $2m USD, but it's one of those things where you just have to take that risk. Or keep working.

The biggest mistake that some retirees make these days is liquidating their 401ks or re-configuring it to mostly cash and bonds.

Huge mistake. Inflation would insure their wealth would be cut in half within 10-15 years. If they live 30 more years beyond retirement, then they will nearly be poor by their death.

The risk has now completely flipped 180, it is far less risky to keep your retirement wealth in equities and other investments after retirement than to go to cash/bonds.

Edit: I read about a couple that retired early 15 years ago on $800K, but they kept it all pretty much in investments and only liquidated what they needed. Now 15 years later, they have $1.2M left.  Cheesy
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September 06, 2021, 03:51:30 PM
Merited by El duderino_ (4)

I'd be scared to "retire" even at 65 if I only had $2m USD, but it's one of those things where you just have to take that risk. Or keep working.

Edit: I read about a couple that retired early 15 years ago on $800K, but they kept it all pretty much in investments and only liquidated what they needed. Now 15 years later, they have $1.2M left.  Cheesy

Fantastic, they must be prudent investors. I guess it all boils down to need vs greed, if you are happy and content with what you have, you should be able to retire on a relatively low corpus.
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September 06, 2021, 04:01:27 PM


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