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

[ChartBuddy]

Explanation

[BitcoinGirl.Club]

Good afternoon WO brothers!!!
Observing @ $41,690
We had a jump back from below $33K. Who filled up their bag with sweet orange corns?

It's been long I logged in. So much is going on IRL. All good. Trying to find time to back in the place I loved a lot.

Hope everyone had wonderful Christmas and holidays!

[cAPSLOCK]

In the NL we say: A shroud (lijkwade, a shroud for the dead) has no pockets.

It is indeed, like cAPSLOCK so uneconomically said, about finding a balance.

BTW I do have a separate BTC address for my daughter. 

This is smart.  I have made them both (kids) a metal set of keys using the washer/bolt method but I have not loaded anything on them yet. maybe I should.

There ya go kids!  Now mom and I are gonna go spend all the rest.  I hope it does not make you TOO mad one day.

[cAPSLOCK]

(I am translating from the sensible fahrenheit to the non weather sensible celcius for you Europeans and lovely brave Canadians (HONK), although I agree the US are cavemen as far as the metric system goes F is just better for weather, while C is great for science or cooking.. anyway never mind that).

Given the rest of the content of your post, the science of when water freezes might be considered fairly relevant. In truth, both are arbitrary and fine

I am poking the bear with that.  But I do also mean it...  As I said C is better for science (and cooking which IS science really) for sure.  0=freezing 100=boiling.

But 0-100 in F represents a (less exact) useful range of general temperatures for the outside environment with better granularity in between at the unit. 0=cold as hell and 100=Texas.  with 60-80 being a nice 20 point comfort zone.  But you only get about half the whole number granularity with the "science numbers".

If we can only have one scale its Celsius all day long, obviously... but the good old fahrenheit still has a place, I think.

Fun fact, When Anders Celsius first invented the scale it was 100 for freezing and 0 for boiling, it was later inverted.
Pro tip, use half scales, ie 21,5 C for more granularity.

How very odd in the context of life the other way... huh.

I'm a big spender,
Where Bitcoin's legal tender.
Texas, here I come!

#sundayhaiku

Some day that will be.
And cowboys will lead the way!
Don't mess with Texas.

(At least I hope... we could get beat by Arizona or Wyoming!)

[ChartBuddy]

Explanation

[El duderino_]

Green red green red green
Red green red green red green red
Green red green red green

Start = stop.

[sirazimuth]

When the bill came, he was ready to split it. I was like, "no worries brother, I got this one."

That puts me in mind of a TV show worth watching, since the thread has had some of that recently. "Inside No 9". The episode I'm thinking of in particular is S03E02 "The Bill".

I just watched that episode.    F**king brilliant!
I can't believe I've never heard of this show.
Thanx for the recommendation bro. Now I'm gonna eye guzzle the lot.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[d_eddie]

When the bill came, he was ready to split it. I was like, "no worries, I got this brother."

That puts me in mind of a TV show worth watching, since the thread has had some of that recently. "Inside No 9". The episode I'm thinking of in particular is S03E02 "The Bill".

I jumped straight to The 12 Days of Christine after following up on your hint and reading a bit. Top shelf.

[Torque]

The ‘Bitcoin Family’ immigrates to Portugal for its 0% tax on cryptocurrencies
https://www.cnbc.com/2022/02/06/bitcoin-family-moves-to-portugal-crypto-tax-haven.html

I can't find it now, but I distinctly remember a thread that was talking about this family. Most of the commenters were laughing and absolutely eviscerating them for being so "stupid" and "reckless" for going all in on bitcoin at the time, and saying how they will lose everything. I was one of the few on that thread, if not the only one, who applauded and defended their YOLO move.

[julian071]

The ‘Bitcoin Family’ immigrates to Portugal for its 0% tax on cryptocurrencies
https://www.cnbc.com/2022/02/06/bitcoin-family-moves-to-portugal-crypto-tax-haven.html

I can't find it now, but I distinctly remember a thread that was talking about this family. Most of the commenters were laughing and absolutely eviscerating them for being so "stupid" and "reckless" for going all in on bitcoin at the time, and saying how they will lose everything. I was one of the few on that thread, if not the only one, who applauded and defended their YOLO move.

They're Dutch actually. Recently saw the guy on a weekly program about crypto on Dutch TV. He knows what he's talking about.

Taxes in his home country are great too, however the weather is not. Here you only pay about a third over a fictional gain of 5 percent, so about 1.6 percent per year. No taxes on trades.

[ChartBuddy]

Explanation

[Biodom]

@jjg...you keep posting about "my 20BTC" and I keep telling you that it is a wrong number, but you keep going back like a stubborn sob you are.
Don't guess, apart from telling you that it is wrong, I am not revealing anything.

Regarding accumulation: my accumulation works much better than yours since it occurs via mining and the last 3 years were good (basically, I am getting btc at a discount comparing to you).
Finally, get this salient point into your head and stop talking about "neglecting the uppity" and DCAing (with respect to myself, not the topic overall).

Re "bitcoin family"-unfortunately, US taxpayers cannot just pick up and go to Portugal for tax purposes (without abandoning the citizenship). The article explains it well.
US is just one of two countries in the world that taxes citizens no matter where they live (US and Eritrea or something like this).
I looked into Puerto-Rico. It works well for a single person, who happens to move at the BOTTOM of the cycle, then takes cap gains at the top and then leaves the island.
Your gains accumulated PRIOR to the movement are still taxable.
Too many rules and a hefty fee of something like $25K/year for every "covered" person, which needs to be at least two for a family if you file joint return.
You also need to purchase or rent a residence and REALLY make it your primary (have drivers license, bank account in PR, vote there as well).
You can be in US only 90 days each year and HAVE to be physically in PR for 183 days each year.
You also have to hire locals to do your taxes, which are complicated (to fulfill Act 60 obligations) and it costs another 10K easily.

Maybe I am just too lazy. If retirement comes and coincides with the bottom of the cycle, maybe I would reconsider, but it is a solid NO for now.

[ChartBuddy]

Explanation

[xhomerx10]

Ascending Triangle on BTC 4H Timeframe.

Aren't we suppose to touch 30K-31K before breaking out? or has that changed now?

https://bitcointalk.org/index.php?topic=178336.msg59146574#msg59146574

I hope no one was waiting for 30K-31K to buy in!

 You know the old saying: "Close only counts in hand grenades, horseshoes and technical analysis."  Seriously, though it's a game of percentages.

Had to google that saying... I like it! Will add it to the arsenal and use it!

But I think the following proverb may be more suitable..

"throw enough mud at the wall, some of it will stick and hope your audience has a memory of a gold fish!..."

 Good one!  I'm all out of merit so this cheesy grin will have to suffice: 

[El duderino_]

[JayJuanGee]

Good afternoon WO brothers!!!
Observing @ $41,690
We had a jump back from below $33K. Who filled up their bag with sweet orange corns?

It's been long I logged in. So much is going on IRL. All good. Trying to find time to back in the place I loved a lot.

Hope everyone had wonderful Christmas and holidays!

Maybe the better current question is not whether the "bottom is in," but instead did you sufficiently and adequately fill up your bags, just in case (as insurance) just in case the bottom is actually in?

It's difficult for me to come up with any kind of an exact scenario, but if someone has been in bitcoin for more than 6 years, like you BGC, then maybe there would have already been quite a bit of stocking up that had already taken place in the first 4-5 years - however, when the BTC price started going up in September 2020 there might have been some reluctancies to buy anymore BTC while the price is going up from $10k to $65k (in April 2021), but with any of us, we can presume that we have ongoing cashflow coming in, so what do we do with the ongoing cashflow?  Do we want to or need to still invest in bitcoin with some of that?  Multi-million dollar question, no?

There was an opportunity buy some on the way down to $28,600  in May/June/July -ish... and then we had another opportunity to buy some more on the way down to $32,951 this time around.  Did we do anything or just wait it out because we either feel that we have enough already or that maybe we consider that the price could go down some more.. and if it does not go down more, we got enough?

It's not going to be the same answer.. even if we have been in for 1-2 cycles?  And it would seem that any of us who have been in less than a whole cycle should not have felt it to be a imprudent thing to continue to stack in both of these dips, whether believing that the price might go down more or not.. because the thing is that it might not never go back down below $40k again.. we have to prepare for that, even if the odds might be greater than 50% that we get a price drop below $40k again.. there are scenarios that it might not go down to whichever price point that you are considering.. and so then the question remains.. especially for those who have been in for less than a whole cycle.. do you have enough, just in case it does not go "down before up" - and even if you consider that to be a minority scenario... that is the multi-million dollar question.

Oh by the way, I do know about quite a few folks in the forum who have not gotten very close to a within 4-8 year fuck you status, yet even though into BTC for than more than one cycle... even though it does appear feasible that entry-level fuck you status could be reached with around 10 BTC in four years, and with potentially less than 1 BTC in 8 years... feeling that I need to make my current projections a bit more conservative.

[ChartBuddy]

Explanation

[marcus_of_augustus]

1. Texas
2. Portugal
3. El Salvador

.... in that order?

... I'm gonna start shopping for passports I think, change my mind. Totally sick of these crazy "health security" authoritarians that are fucking up every place they touch.