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

[OutOfMemory]

Dumb question:
So you mean i can rent a 40-bucks-per-month linux VM with 2TB hdd space at some random hoster, set up a full and lightning node over tor and i'm a node operator?
I only require to make $40 in fees (minimum) to finance the vm.

You could try?

Honestly not sure how to answer that. I'm doing a lot of active channel management on the node, on a daily basis.

From what i've learned about these nodes is that you have to do a lot of active channel management to make it serve in a profitable way, among other things like practical understanding. It's not suitable for set-and-forget operation, imo.
Need to ask somewhere else on this forum for rented vm experiences. I just don't have the right infrastructure/isp to run a node privately at home 24/7, also i suffer from at least 3 power outages each year. The longest duration off grid was 9 hours. Neighbors, who are supplied by landlines coming from a different city were off grid for two full days when the power poles collapsed in a row after the cables were torn apart by a falling tree. It creates a kind of "pulling-force wave" in both directions from the breaking location.

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[bitcoinPsycho]

[Mbitr]

[HI-TEC99]

[Hueristic]

https://www.documentcloud.org/documents/21085729-ag-1359255-irs%5C_rule%5C_bank%5C_account%5C_reporting

We, the undersigned Attorneys General, write on behalf of our respective states regarding the current Internal Revenue Service (IRS) proposal that your administration is advocating, which would provide the federal government with access to nearly every American’s bank account and financial transaction information.1 As the chief legal officers of our states, we find this proposal wholly unacceptable and oppose any requirement of its kind. It is at best overly burdensome and at worst it is illegal. As such, we ask you to rescind this proposal immediately.

This proposal stands in direct opposition to privacy that Americans are entitled to and deserve. The Federal Government combing through almost every American’s bank account without cause, or even suspicion, is unacceptable, illegal and contrary to the well-founded constitutional principles against illegal searches and seizures.

The primary role of the government is to protect person and property, and it is our duty to protect the people of our states, which is why we oppose this reckless abuse of federal power. Americans are justifiably outraged by this policy and see it as illegal, intrusive, wholly unnecessary and costly.

[OutOfMemory]

The momentum is great. We needed to break $60k several times to stay on top of it before china got out. This time we just went through the magic number barrier in a matter of a few days and we're still rising.
Thrilled what will happen at/after breaking ATH...


*rocketgif*

[EatonABooger]

Whilst there is a delay in the action – a quick personal story…

The company I work(ed) for changed to a different retirement account custodian.  This change also caused us employees to lose our ability to select/trade stocks with our 401 and Roth funds.  Now ALL of your savings had to go into one of the custodial savings funds (made up of a basket of crappy stocks/bonds).
I had a nice nest egg that I have been saving for over 30 years in this program just waiting for the ETF and the chance to take my savings to the “next level”.    Of course I was anticipating this ETF from the day the Winkle boys first applied.   I did put a large portion of my savings into the Grayscale products and that was nice – for a short duration.
My company/custodian forced us to liquidate our brokerage selections and move into the pre-selected death spiral funds.   Of course this happened this summer when the dip occurred and I got wrecked with the move.
With the most certain bull run that was coming I really only had two choices.
1. withdraw all the retirement savings and pay the early penalty
2. quit the company – thus allowing the funds to be freed for a short stint while I shop for a new custodian (the IRS gives you 60 days to re-invest into a new qualified instrument).

I quit my job, took the retirement funds and am riding the wave for 60 days.  It has already paid for a couple years salary.  

Fingers crossed – breath held.
In the infamous words of the ESPN Ocho announcer Pepper Brooks  “It's a bold strategy, Cotton. Let's see if it pays off..”

You are correct that it is a risky... strategy.. and another option would have been to take a loan from your 401k or to invest into bitcoin in separate funds.. but sure, maybe your 401k loan limit is quite low and sure maybe you do not have enough separate funds to make any kind of meaningful and significant investment into bitcoin.. so it does seem that you have given a decent amount of assessment of the risks (maybe not enough of an assessment, but you do not seem to be flying blind).. which is about as much as anyone can hope for under such desperate (seemingly highway robbery-like circumstances).

By the way, EatonABooger if you have not already gotten back into BTC with your 401k funds, then where are you with that?  You can do self-directed, but that usually would have required setting something up in advance (before quitting your job) and then you can get the 401k funds and then invest them through your self-directed system... otherwise, if you are just riding out the 60-days then it appears that you are going to have to pay the penalty (10%-ish) (and perhaps the taxes) if you do not find a authorized new custodian, no?  Might be better to completely take the funds if BTC performs well enough, too... Maybe you got into BTC in the $40ks or $50ks with those retirement (401k) funds?

1. quit job   >>  check
2. take the 100% cash-out option (except for the 20% that the custodian is required to hold back for taxes - in case I do not roll back into a plan) >>  check
3. immediately invest into BTC / ETH  >> check
4. wait out the 60 days and let the market "hopefully" moon  >>  in process
5. cash out BTC/ETH and put the funds equivalent to those in step 2 back into a qualified retirement plan that allows brokerage options (letting me pick almost anything that is on the exchanges)
6. invest the retirement funds back into Greyscale and new ETF products
7. report back to nice folk at W.O. forum with results.
8. pick out party attire for the 100K hoot nanny

Note: yes, there will be taxes on short term gains
Note: yes, one could just bail on the plan and leave the funds in BTC / ETH depending on how the market behaves - will have to look at pro/con

[JayJuanGee]

BTC futures ETF is now live; congratulations, guys! Though I don't hold any BTC right now, I'm still happy for this launch as BTC has played a critical role in making me the net worth that I have right now. Eternally grateful. Moreover, since all my friends here still have most of their exposure in BTC, I'm happy.

I'll get back in the game when it feels right, but right now? No way. Again, I'm not bearish on BTC, I'm actually bearish on every effing thing (stocks, crypto, commodities, etc.)

Congratulations again, yet another big day for BTC.

For sure, it is too bad that you have painted yourself into your own losing corner.. and that remains your choice, even though I understand that psychologically it is difficult to actually do the thing that would be more financially profitable.. and you likely even can recognize and appreciate what that is, even if you are too stubborn to actually act in a way that is quite likely to benefit you financially.

Again, even if you are not able to see and recognize it.. there is a quite likely noman's land region between $55k and $80k.. so in that sense there are pretty damned decent odds that we are pretty much going straight to $80k.. and sure maybe even to $100k.. and of course, nothing is guaranteed.. but not making any preparations for noman's land.. gives you pretty low chances of getting in much cheaper.. for this run through this zone or possible ever..  though of course, anything is possible... and we get corrections all the time.. just like we had corrections back down to $17k when we had entered noman's land between $17,250 and $23,500 in December 2020.. wait.. we did not have any opportunities to buy again in that price zone, right?  About the lowest that we have since been able to buy has been around $28,600.. so there goes those opportunities in the $17k to $24k even though theoretically they were possible at various points, they never materialized, even though the "theoretical" opportunities were there....

In other words, if we are truly a bitcoin bull, we should always be prepared for both UP and down... especially the UP part, because the UP part can sometimes play out quite viciously, even though we sometimes believe that we can enter upon future opportunties.. when king daddy goes into punishing mode, the future opportunities might never come.

[BitcoinBunny]

[El duderino_]

euro next? old ATH 54203 Euro on bitstamp. just 600 euro away.

ATH just under 54200 € on Kraken.

It's happening tonight.

I don't see it

Look better

[serveria.com]

3. immediately invest into BTC / ETH  >> check

OMG no please no...    /shitcointalk  

[Hueristic]

^^^^--- Runs from the fallout!





Stupid board took so long to post the fiucking gif its down 4 posts.

[HI-TEC99]

[realsteelboy]

Most certainly gentlemen. What a time to be alive

 

[ChartBuddy]

Explanation

[Paashaas]

$64,000

[serveria.com]

No signs of stopping... hundreds to go... c'mon Bitcoin do it! 

[psycodad]

I somewhat lack the vocabulary to express my feelings in a precise and proper way, so let me please just say loudly

WEEEEEEEEEEEE!!

 

[Biodom]

OK. In the "Holy-Shit Department", I did the accounting on my node, and for the sake of argument, am profitable ~+$2k USD as of right now.

This is a viable alternative to mining for me, but the headache is much worse with channel management/balancing, than managing a hardware farm.

Anyway, figured some of you might appreciate that anecdote.

Sure, we do. Well, apart from paying a huge entry tax (not sure if it is still in effect, though), Texas sun+solar+current machines= MUCH more profitability (currently) with less work, usually.
Need hearing protectors, though, when around those beasts.

But....mining was always VERY risky before because of unclear future pricing. However, 2019-2021 were surprisingly profitable due to the chip shortage, which caused hash rate not to climb so fast vs price.

[BitcoinBunny]