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

[Syke]

Full disclosure: Took profits @ $61k.

I also pulled the trigger, but instead of selling, I took out a loan using bitcoin as the collateral. I think this is my path going forward.

[1714944429]

1714944429

[1714944429]

1714944429

[Hueristic]

Full disclosure: Took profits @ $61k.

I also pulled the trigger, but instead of selling, I took out a loan using bitcoin as the collateral. I think this is my path going forward.

How did you do it without giving up your keys?

[ChartBuddy]

Explanation

[eddie13]

Full disclosure: Took profits @ $61k.

I also pulled the trigger, but instead of selling, I took out a loan using bitcoin as the collateral. I think this is my path going forward.

How did you do it without giving up your keys?

I think you basically don’t..
I think their are some options to do it multisig, but you still loose full control of your coins..

[becoin]

Full disclosure: Took profits @ $61k. Putting it into a joint account for Rick and myself to buy toys and equipment for the ranch, as things start coming online, soon. Feel bad that all the corn I'm selling is going directly into my accounts (feel bad about needing to give Rick my financial login info to reconcile everything for this project...), and putting this batch into the joint account for ranch needs takes a fucktonne of stress off the both of us. Really don't want to draw down on our existing fiat investments to support the ranch. Will consider drawing down on those as needed, after the ranch is built and we're living out there full-time - 10 years ish.

Next sell target set for $75k, then $100k, then we sit back and re-evaluate our lives.

Gotta buy ourselves one of those jacked up monster pickup trucks that are capable of traversing the entire ranch to start... then a tractor... Oh God... it starts...

Selling bitcoins to buy inventory you need is good. Selling bitcoins to buy tokens on a bank account is definitely stupid!

[Syke]

How did you do it without giving up your keys?

Yup, had to give them up. IMO, the market has matured. We're no longer in the Gox era of amateur custodians, and the rewards of a low-interest loan and/or interest-bearing savings outweigh the risks for *part* of my stash. The bulk stays in cold wallet. DYOR.

[becoin]

How did you do it without giving up your keys?

Yup, had to give them up. IMO, the market has matured. We're no longer in the Gox era of amateur custodians

All custodians that depend on banks are amateur custodians!

[ChartBuddy]

Explanation

[Biodom]

How did you do it without giving up your keys?

Yup, had to give them up. IMO, the market has matured. We're no longer in the Gox era of amateur custodians, and the rewards of a low-interest loan and/or interest-bearing savings outweigh the risks for *part* of my stash. The bulk stays in cold wallet. DYOR.

good move, but I will wait a bit.

[ChartBuddy]

Explanation

[Cryptotourist]

How did you do it without giving up your keys?

Yup, had to give them up. IMO, the market has matured. We're no longer in the Gox era of amateur custodians, and the rewards of a low-interest loan and/or interest-bearing savings outweigh the risks for *part* of my stash. The bulk stays in cold wallet. DYOR.

good move, but I will wait a bit.

Wait for what?
You guys - parting with your coins for a fiat loan, instead of market selling and market buying back - constitutes the end of BTC as we know it.
Not my cup of tea.

That said, I do hope you get them back.


Taking out a loan,
is-what-is wrong with this world,
bitcoin fixes that.

#haiku

[Tash]

...............
Taking out a loan,
is-what-is wrong with this world,
bitcoin fixes that.

#haiku

Loans are for slaves.
 Debt is modern form of slavery

[JayJuanGee]

Depends on your own personal journey and its development. I for one think that we should all feel like special snowflakes and be appreciative that we have meet and have our little group-nest-thingy here to troll the unaware sheeple that read these mighty threads. I for one knew of Bitcoin in January-February 2010, but did nothing about it, because it took me at least till 2011-2012 to understand it, not because I didn't understood in 2010, but because I didn't believed in it and was skeptical of it like of some magical 'Ad campaign' from some unknown entity that wanted to profit from the gullible many. (But I was not optimistic enough back then, and I didn't buy at 0.01$ or 0.1$, I had to wait a few years, then it went to $1100-1200$ and I had to wait a few more years, till I could start buying in at 200$, at that point I didn't care if it went to 0 or almost nothing, but I just wanted a piece of the future as limited as it was.)

Anyway.... now I'm into 'quantum-coins' I call them. The ones that are so tiny, that are not even listed anywhere. I still believe in Bitcoin, I hold like 10% < > 80% depending on the market swings. But I moved on to other affairs. So I guess 'Yes', it is another way of dealing with things, and feeling 'the chosen ones' from one endeavor to another. But as I experienced, the best things always come from the "honesty of into the  believe", and I describe this honesty of belief concept as that time when you take into consideration your own beliefs, the beliefs of others, the future others and God, then decide to believe in that concept and invest your 'efforts' into it. So I guess.... its kinda like asking the blessing of the Universe to let you apply its own way of being.            

Yes... you do seem quite distracted....,

How did you do it without giving up your keys?

Yup, had to give them up. IMO, the market has matured. We're no longer in the Gox era of amateur custodians, and the rewards of a low-interest loan and/or interest-bearing savings outweigh the risks for *part* of my stash. The bulk stays in cold wallet. DYOR.

good move, but I will wait a bit.

Wait for what?
You guys - parting with your coins for a fiat loan, instead of market selling and market buying back - constitutes the end of BTC as we know it.
Not my cup of tea.

That said, I do hope you get them back.


Taking out a loan,
is-what-is wrong with this world,
bitcoin fixes that.

#haiku

I hate to be agreeing with cryptotourist twat... I mean.. that's not name calling is it?  

Anyhow, there is a fairly decent point that putting coins into the hands of others might not be a good idea under current market conditions (including how those loans are being treated), unless for example Biodom might be waiting for $1 million or $10 million per coin as he had said earlier.. then his 20 coins would be worth $200 million-ish  and perhaps he is just putting a small percentage of his overall holdings up as collateral.. and hopefully he is not going to be tricked out of his coins.. and the lending/collateral market might begin to value bitcoin a bit better in terms of the best asset class (most pristine of collateral) and maybe even allow for some bargaining power of the bitcoin HODLer to set his/her loan terms... perhaps? perhaps?

[LoyceV]

Is a shitcoiner considered a nocoiner?

I'm trying to save myself from something dumb I may have said.

[JayJuanGee]

Is a shitcoiner considered a nocoiner?

I'm trying to save myself from something dumb I may have said.

Short answer..

"yes... a shitcoiner is a nocoiner"

A shitcoin is not bitcoin

you must hold some bitcoin in order to be considered a bitcoiner, even if you might be under stocked in an  adequate quantity of bitcoin, which is another problem that we have in terms of bitcoin HODLers not being adequately stocked and/or prepared for UP.

Edit:  By the way, I am not sure if what you said in that other linked post is dumb or not.. because a lot of the old time shitcoiners do hold decent quantities of bitcoin..  so in that regard they would not be "nocoiners" in the traditional sense of the term "nocoiner" and probably they could be considered as under-allocated in bitcoin or just have their portfolio diversity to have a lot of nonsense in it.. and on a side note, Vitalik's talking shit about bitcoin... but is quite likely not a "no coiner"..    

I don't find any problem to denigrate shitcoiners and to even exaggerate the facts in terms of their not holding bitcoin, whether they do or not... so in that regard, you post is correct to denigrate Vitalik.. while I am becoming a wee bit more nauseous than usual just thinking about the topic of how Vitalik is considered (even considering himself in such light) as some kind of an authority regarding what bitcoin might or might not do.

[ChartBuddy]

Explanation

[Cryptotourist]

Loans are for slaves.
Debt is modern form of slavery

Exactly my feeling.
The good thing is that today - you can spot them from a distance.
You know, that solo guy in his car wearing a mask.

I hate to be agreeing with cryptotourist twat... I mean.. that's not name calling is it?  

Of course not.
Love and hate is a fine line, Mr. not-a-bot-but-a-state-of-the-art-AI-flake-G.

[JayJuanGee]

Loans are for slaves.
Debt is modern form of slavery

Exactly my feeling.
The good thing is that today - you can spot them from a distance.
You know, that solo guy in his car wearing a mask.

I hate to be agreeing with cryptotourist twat... I mean.. that's not name calling is it?  

Of course not.
Love and hate is a fine line, Mr. not-a-bot-but-a-state-of the-art-AI-flake-G.

Let's (royal let's of course) stop calling you cryptotourist twat and describe you as a creative twat... that would be much more endearing and even give you some recognition.. not that you deserve it... hahahahaha.. #no homo.

In other words, HODL your bitcoin, you fucks and you twats, but sure if you are quite overallocated in bitcoin, then there is a whole hell of a lot more leeway as compared with someone who might be struggling with small quantities of bitcoin.. I would surely conclude that 20 BTC would be a small amount to be playing around based on current prices (like just looking at the spot price which is dangerous to believe that you reached fuck you status based on spot price).  

Of course, each person has to figure out what quantity of BTC puts him/her at fuck you status... and if that is $1 million valuation $2 million as I had recently asserted as a fair entry level to fuck you status, but I had recently heard that some people are even thinking that $2 million does not serve as an adequate level for entry-level fuck you status.

On the other hand, the location of the 208-week moving average puts you at nearly $17k per coin so that would be having around 117.6 BTC to put a guy in a kind of entry level fuck you status based on the $2 million number.  Anyhow, even if 20 BTC is not currently considered fuck you status level, it surely has decently high chances of serving as an entry level fuck you status in one or two more cycles...  perhaps? perhaps?

[LoyceV]

Loans are for slaves.
 Debt is modern form of slavery

Forcing someone to work for you isn't allowed, but paying someone to work for money so he doesn't starve is totally accepted.

[AlcoHoDL]

Loans are for slaves.
Debt is modern form of slavery

Forcing someone to work for you isn't allowed, but paying someone to work for money so he doesn't starve is totally accepted.

There's a term for it: wage slavery.