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

[redhack]

As long as 60k hold the move will be only to go up. Target is new all time high, it's not hard to see this.

It's either November, December or January, Take your time ₿.

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[ChartBuddy]

Explanation

[ivomm]

I wonder what happened to proudhon and his funny posts. May be he is verifying his math and science:

[JimboToronto]

Good morn Bitcoinland.
Sixty grand eight thirty-five
(Bitcoinaverage).

October is fun
November will be fun too
And December too.

I took out a loan using bitcoin as the collateral.

Giving up your keys
To pay compound interest?
Not my cup of tea.

[El duderino_]

60.5-61k is the new….

[El duderino_]

As long as 60k hold the move will be only to go up. Target is new all time high, it's not hard to see this.

It's either November, December or January, Take your time ₿.

Indeed…. Though January is a little far from here perhaps

[Poker Player]

60.5-61k is the new….

Consolidation, I'd say.

As long as 60k hold the move will be only to go up. Target is new all time high, it's not hard to see this.

It's either November, December or January, Take your time ₿.

Indeed…. Though January is a little far from here perhaps

WTF? I'm thinking next week.

[ChartBuddy]

Explanation

[fillippone]

I wonder what happened to proudhon and his funny posts. May be he is verifying his math and science:

Ehi! I have an open bet with him! Please don’t make him disappear!

<…>
So a few computation (getting updated figures for gold parity consistency):

World financial wealth (Credit Suisse 2020) : 360 Trln
1% : 3.60 Trillion
This has to becdivided over
21 million bitcoins (I want a conservative number)

Target price: 170,000 USD

Not bad.
Bullish.
My body is ready.

Money is going to leave the bitcoin ecosystem over the next 12 months (and forever after on average). Bitcoin will never reach that price. If it does, I'll buy $10k worth and give it to you.

[aysg76]

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

This reminds me of this :



Working 9-5 day job with the same boring routine and for others to make them rich just to get a part of it with all the burden is for sure most distrubing form of modern slavery.We thought slavery was past concept but the system never removed it but just developed new ways of it which still many don't understand.

[ChartBuddy]

Explanation

[Phil_S]

[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.

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.

I think that you don't get the idea: instead of selling bitcoin and PAYING up to 50% in taxes, you get cash that you need now. Then, for example 3 years later (of course you borrow somewhere close to the peak price) when bitcoin is at ATH, you can use a FRACTION of bitcoin that you borrowed against to close your loan. Taking a loan would be having the necessary chunk of cash now, but effectively selling bitcoin at a price of 3 years LATER.

At LTV of 25% the interest is 1%. You can't get a loan like this when you buy a house, at least in US.

I am not planning to either sell or take a loan at the moment, but this "method" surely beats selling and paying a HUGE amounts of tax.
All rich do this. How do you think Musk had billions to invest in Space X (he borrowed heavily against Tesla stock to the tune of billions)?

TL;DR Want to pay lotta tax, sell; don't want to pay tax (lawfully), take a loan.

EDIT: you can also use a part of the loan to reinvest in bitcoin options, if you are super bullish or bearish and leverage your position.

[d_eddie]

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

This reminds me of this :



Working 9-5 day job with the same boring routine and for others to make them rich just to get a part of it with all the burden is for sure most distrubing form of modern slavery.We thought slavery was past concept but the system never removed it but just developed new ways of it which still many don't understand.

The problem with this line of reasoning is that the most intuitive solution is: All means of production, not only labor, should be in the hands of the laborers. That's communism, or some variation thereof.

[JayJuanGee]

Below is a post of mine that was deleted in another thread for being "off-topic," so I am reposting it here... because it would not be off-topic in these here parts.. and I believe it is an important point in regards to what some members might consider to be influencing (or threats to) bitcoin's current UPpity price pressures.

..... .[e-mail to JJG informing about deleted post]

Elon musk remarkable influence to bitcoin,Altcoin,Is incredible..hope he does not post any negative tweet about bitcoin soon,can't afford to loose now..

You are delusional if you believe that Elon Musk's tweets or any other narrow and single factors have much if any directional impact on the BTC price, even if they might be used as excuses or exacerbating events, but they do not control the bitcoin price in any kind of meaningful way.

Let's take what you may well proclaim  to be your one example in May 2021. yes the BTC price corrected more than 50% in a short period of time (and stayed down for a few months).. but the BTC price had also gone up around 6.5x in the prior 7 months... so yes a correction was in the works.. whether Elon the dweeb contributing to exacerbating it or not, that dweeb did not cause the earlier correction and will not have much if any causal affect on any other correction if it comes, even if others (shadows in the caves watchers) might give him credit or he might claim credit for such price drops if they happen.

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...

Sounds like a lot of fucking hard work running this ranch, bro.

Even spending money can be a lot of work, and seems like no one else is going to really do that work for you, especially if you want to get what you want, and even if you could get the perfect personal assistant that actually carries out your wishes...

I sold some @ $61,400.

Not necessarily a bad thing to have some systematic sales, even if you might agree that it is quite likely that we are in "no man's land"... and yeah the price pressures are up, but if you don't sell too much, at least you are also covered for the less likely scenarios that we might end up correcting for a long time from here.  Even I look at my sell orders and my tweaking of my sell orders, and I see that I could be a wee bit less aggressive on the sales of BTC and even modify them down a wee bit more.. but I still get nervous about doing that..

So my tweaks to account for what I believe might happen are pretty damned minor in the whole scheme of things - even though I believe that on the margins, I do end up accounting for some of my beliefs in regards to BTC price dynamics.. and largely if you are just playing a form of incrementalism (rather than all or nothing bets) then it probably does not really matter if you end up selling 1% for every 10% that the BTC price goes up (as might be the suggested default formula) or you error on the side of more passive formula such as selling 0.75% for every 10% that the BTC price goes up because you believe that there is a no man's land or you even might sell a wee bit more aggressively with a formula of selling 1.5% for every 10% that the BTC price goes up because of some material needs that you have (even if those material needs are merely to have some cash in your hands.. just in case and just for flexibilities).

Even from November 2020 to January 2021, I did not really feel bad at all to stick with largely my normally pre-scheduled sales amounts, even though I had decently high levels of conviction (maybe approaching 60%-ish) that we were going to be going through a noman's land of $17,250 to $23,500 and we ended up going through that noman's land from $17,250-ish to $42k-ish before correcting back down to the lower $30ks... and I am not even saying that I regretted any of my sales in those there parts... sure I tweaked them down.. but that tweaking down of those sales was pretty damned minor.. I recall that I largely made the spreads greater with a net result of the amounts sold to have been a wee bit smaller to account for no man's land, but really hardly anything that was of great significance... so the BTC price more than doubled, and maybe to give a kind of ballpark approximation, in normal situations, I would have sold around 11% of my holdings, but maybe instead for that same price period, I ended up selling around 8.5%.. which was still stacking a lot of fiat, and I have not gone through and made the exact calculations.. just giving some ballpark ideas about how I might tweak my behavior based on my expectations.. which is largely doing the same thing.. but just making some modest changes to account for some aspects of the probabilities of where we might be going based on where we are and where we have been (including attempting to account for the most dominant and credible of BTC price prediction models, too)..

Would like to see an ATH next week if i am honest.

None of us really know, but still it seems that the odds are pretty damned high that a new ATH is imminent, especially since we clearly have traversed into noman's land, so stop being so bearish with your short term sights set so damed low... hahahahahahaha.. .yeah.. we should have some pretty decent ideas that at minimum we have good odds of passing through noman's land and getting to $80k... and surely, I am also thinking that there may well be some resistance in the$80k to $100k territory, but who knows when momentum starts to kick in then sometimes those previously conceived resistance points become less of an issue than what we previously had thought.. and if we are stuck in a range such as $80k to $100k for a whole week or even two weeks, we start to conjecture impatience regarding going up and blah blah blah.. and of course, nothing is guaranteed.. and also sometimes we will still end up having some pretty drastic quickie corrections along the way to help shake some weak hands on the way up....

So, yeah.. does not seem unreasonable to pass through current ATH to plow new territories within a week or two.. but surely getting some kind of desperate dump might come into play, too... but would not likely mean that the desperate dump would be successful, except for shaking the dumpers from their coins... hahahahahaha

[ChartBuddy]

Explanation

[eddie13]

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...

10 years?

My family developed our property ourselves from clearing land to a new house, barn, and all.. little by little as we could afford it, doing almost everything ourselves..
From straight roughing it camping in tents the first summer and buying an old cheap house trailer, living in that for 2 years before we even got electricity (seriously) and finally over time built a nice house and tore the old trailer out..
Been there done that..

I think you can get it done much faster than 10 years if you have the funds, and I would suggest sooner rather than later, so you have more time to enjoy your life there..

You don’t need expensive contractors.. What you need are some good old countryboys!

How are the prospects of getting electricity out there?
We are talking about the lake property correct?

[BobLawblaw]

We are talking about the lake property correct?

Jimbo is the lake owner. We have a couple fishing ponds and cattle watering holes on the ranch, but nothing approaching a description of a lake.

When I say 10 years away, that's us moving out there and abandoning our suburban home altogether - Having all the subsistence infrastructure being well established and running by then.

Probably going to spend 4 days at the ranch, and 3 days in the city for a little bit, and see how that works out. Realistically, it won't be until early spring until the barn/home goes up at end of Phase 1 construction.

Phase 2 construction is for our main home, solar arrays, greenhouses, and my studio building.

Phase 3 has not properly come into focus yet, but likely to involve buying up more land, building a citadel 1000ft high, and doing a geological project on a heretofore unforeseen scale, to build a proper lava moat surrounding the citadel.

Hopefully end of 2025-ish

EDIT: No problems with data, electrical, or water service where we are building. Robust, new infrastructure in place.

[eddie13]

Ah, got ya mixed up..

[JayJuanGee]

A little game, I’m very curious someone remembers this as well and knows who I’m talking about, my post can be a bit wrong but in bigger lines this is what he was saying kind of.



A remember a post …… written a looong time ago by a member of the WO-thread, a frequent poster, one I not always could say rather he’s a long term believer bull or not….

I do remember the post where he said somewhere half way last bearmarket

This time in a year from now, a lot of WO members will not be active in here anymore or with BTC etc (probably cause he thought we where going way lower as we did and stay there for a long period etc)

I think he suggested a future where BTC was at higher prices like now, but 10-15 years from that post or something…

Pretty typical speculation coming from a bitcoin naysayer (and sure a no coiner).. sounds like someone as extreme as Jonovi.. but off the top of my head, I cannot remember the specific member who said that.... but yeah.. not a bad idea to keep track of some of the dweebs and their all knowing statements that tend to come out as nearly the opposite of correct... hahahahaha.. happens quite a bit in these here parts.. and not even as if any of us know what is going to happen, but some of us seem to be quite a bit more correct than others... at least in terms of attempting to prepare for UP, in case bitcoin might catch on.

just sold a piece for 60k

Good for you!!! Don't listen to these "BagHoldersForLifeShills!".      

Last time it was $63-64K..... I sold as well and bought me some Doge & other dog meme coins.

But I knew last time it had to be a big correction. This time the correction will be max at $52K. If it dips at $54K I think u can safely catch that price, if it doesn't go up now too much or too fast. But to be honest, I don't see it going too much over 70K in October. Maybe next month, but after the correction at $52K < > $55K (depending on how high it goes.).      

If any of us (the royal us, included) followed your advices and prognostications we would be poor as fuck...

So good thing that your gibberish hardly makes any senses...   doesn't resonate....

hahahahaha

#nohomo.

I did like a 4x on my dog investments in the last 2-3 months.    

Bitcoin only did a 2x .    

Oh gawd... you are amazing.. if you do not say so ur lil selfie.