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

[bct_ail]

we haven't even reached the 2021 ATH when corrected for inflation.  plenty of upside left

So this time is no different after all.  

I have already heard this from some people. But should we now draw the lines in the chart adjusted for the inflation rate?
As nice as that sounds. But stock prices are not adjusted for inflation rate either.

Numbers do not lie. 73794 > 69000.

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[Richy_T]

It just depends what you're measuring against. USD has definitely suffered inflation but other currencies have also. You could also measure against gold, some basket of currencies or whatever you want. One measure sometimes used in the UK was the Mars Bar as its value was somewhat stable over time (that may have changed though).

However, if you want a stable measure, as always, 1BTC=1BTC.

[xhomerx10]

we haven't even reached the 2021 ATH when corrected for inflation.  plenty of upside left

So this time is no different after all.  

I have already heard this from some people. But should we now draw the lines in the chart adjusted for the inflation rate?
As nice as that sounds. But stock prices are not adjusted for inflation rate either.

Numbers do not lie. 73794 > 69000.

 Adjusted for inflation of what though?  The number given for inflation is based on a basket of goods; some of which you might not use in that year... or possibly in any year.  The inflation adjusted price for 2017 bacon is higher (US$7.318) than that of 2020 (US$6.886) but I didn't see anyone adjusting the ATH in November 2020 to a lower dollar value than the previous ATH because of deflationary bacon.

 

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[JayJuanGee]

It just depends what you're measuring against. USD has definitely suffered inflation but other currencies have also. You could also measure against gold, some basket of currencies or whatever you want. One measure sometimes used in the UK was the Mars Bar as its value was somewhat stable over time (that may have changed though).

However, if you want a stable measure, as always, 1BTC=1BTC.

You threw out a lot of smart ideas, and then your last sentence 1BTC=1BTC makes no sense (even though a lot of people say some variation of that in order to attempt to mean something like only BTC matters, which is surely a known logical fallacy even though peeps still get pleasures out of saying that).

Of course, there could be a measure in terms of hookers, Lambos and blow, and/or Big Macs... which makes more sense than 1 BTC = 1 BTC.


Insert meme:  My BTC are only worth what they were worth 10 days ago.. cry, cry cry... 

[WatChe]

Too much ChartBuddy...
Too quiet in these here parts.
Calm before next pump?

#presundayhaiku

This correction is very much expected. I am happy that I saw another All Time high.
Halving is coming next month. So another ATH in coming months.

NO problema.  Buy them back.

It takes a while to get used to selling BTC, but when you are multitudes or even magnitudes in profits, and also if you have gotten to a status that you know that you have accumulated enough (and/or more than enough), then it becomes easier and easier to shave some off here and there at various points... and if you sell a small enough amount you realize that you still have plenty.

Saylor should be in the same camp as me... but he is not.

something is wrong with him.


You don't need to be like Saylor.. at some point, you have enough BTC.. and you can start to shave some off.

Don't get me wrong.  From what I have come to understand, it is not like Saylor is living any kind of deprived life materially, so yeah, he seems to have plenty of resources to just live.. so he seems to be making some other kind of a point by wanting to gather as many coins as he can.

But normies like us (royal perhaps?) should not necessarily need to live like that. 

At some point we have enough and we have more than enough.. and there should be no problem to set some free.. and to let someone else buy them..and get involved in dee cornz.

It's not easy to buy back bitcoins which you sold at adequate profit or it may take considerable time to buy back your coins. Like those who bought bitcoin when it went down to 20k and sold them in current bull run of 73k won't be easily buy those bitcoins back.
Saylor strategy about Bitcoin is working fine. He has 193,000 Bitcoins bought at 6 billion usd and his current holdings has value of 13 Billion. So as long as his strategy is working, he doesn't have to worry at all.
https://news.bitcoin.com/microstrategys-bitcoin-portfolio-value-soars-to-13-2-billion-marking-a-116-gain/

[JimboToronto]

Saylor strategy about Bitcoin is working fine. He has 193,000 Bitcoins bought at 6 billion usd and his current holdings has value of 13 Billion. So as long as his strategy is working, he doesn't have to worry at all.

Saylor's strategy?

It's what many of us have been preaching for years:

Buy, hodl, don't sell unless you must, get rich in the long run.

Easy peasy.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Biodom]

Saylor strategy about Bitcoin is working fine. He has 193,000 Bitcoins bought at 6 billion usd and his current holdings has value of 13 Billion. So as long as his strategy is working, he doesn't have to worry at all.

Saylor's strategy?

It's what many of us have been preaching for years:

Buy, hodl, don't sell unless you must, get rich in the long run.

Easy peasy.

...not exactly. MSTR is levered 2.2X, which means that IF bitcoin goes to roughly 31-32K, the intrinsic value of MSTR stock would approach zero.
They would probably not go bust, but they would probably lose 70-90% of their market cap in this scenario.
How likely is the "deleveraging"..maybe unlikely right now, albeit JPM started making noises about it.
https://decrypt.co/221873/microstrategy-bitcoin-buys-severe-deleveraging-jp-morgan
Maybe they want "in" on this deal, lol.

[JimboToronto]

You keep Bitcoin in a wallet?

I prefer cold storage addresses. Safer.

I thought they were all called wallet
Both Hot and cold.
Planning on getting one though
But considering the idle fund, not to mention not currently in my home base residence that I can feel better hiding it.  
Heard its easier to hold with cold wallet since its time consuming to move your coin to a hot wallet  

If you understand what dual-key cryptography is, an address consists of a public key and a private key. You don't need a wallet to generate addresses. I generate mine offline on a computer that cannot be connected to the internet (no wifi, no network cable). I print co-called paper "wallets" on a printer that has never had internet access. Printer spool buffers can be hacked. I use paper "wallets" for the convenience of scannable QR codes. I keep my bitcoins in as many addresses as is practical. Some of my older addresses contained 10 or 20 coins so I split  them up into many smaller addresses. I never expose my addresses to the internet until I sweep their contents to a wallet program for redistribution.

Wallets on the other hand are Bitcoin handling programs which may or may not be associated with a hardware device. Wallet programs generate addresses and allow transfers to and from other wallet programs via the internet or QR scanning. They are usually secure but are still vulnerable to hackers and you must trust the makers of the hardware. See below. Open source wallet programs are a prerequisite. Wallet programs are convenient because of needing to keep track of many (possibly hundreds) of keys, you can just use a single passphrase.

When I acquire Bitcoin, I try to do so straight to one of the addresses I generated myself, via the public key. If you don't expose the private key, your bitcoins are safe. No need for a wallet program. When I sweep an address into a wallet program, I transfer the bitcoins as quickly as possible to the intended recipient and then put the remainder back into secure cold storage.

When Jimbo refers to "cold storage address" he is referring to kinds of paperwallets, and many of us likely don't even know how to do paper wallets, and perhaps that makes them more secure, even though there have been some suggestions that some paperwallets had issues in terms of the way their keys were generated - but maybe they are also less vulnerable if there is ONLY a certain amount of value in each paper wallet, so it might be doubtful if they all might end up being compromised at one time, if any of them might have had been vulnerable to the ways their keys had been generated.

Similar with hardware wallets. They can have some vulnerabilities in key generation but also in terms of the way they interact with servers and even questions of back doors - though it is thought that the more open source they are then the less likely for trickery in terms of the code being run... I am surely not going to claim to be an expert or even to know about all of the various tradeoffs in terms of how much value might be held in certain ways in order to trigger different practices, because some kinds of solutions might take some time to learn and also to figure out that they might not be as great as they appear to be, which I think is the case with the new device (named Bitkey) launched by Block.. which is likely going to be very popular, yet it does not seem to be a device that is really facilitating self-sovereignty so I cannot be sure if it is worse to lead the masses in a kind of deception about their own level of self-sovereignty through such a device that is likely to be popular.

This is why I use secure cold storage addresses generated offline as I described above.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Leahized]

buy bitcoin.

[Hhampuz]

It's fun to see the bears come out on the weekend and try to be cute only to go back in hiding come Monday. Pathetic.

[Richy_T]

You threw out a lot of smart ideas, and then your last sentence 1BTC=1BTC makes no sense (even though a lot of people say some variation of that in order to attempt to mean something like only BTC matters, which is surely a known logical fallacy even though peeps still get pleasures out of saying that).

It may not make much sense, true but the stability is unparalleled.

Beyond that, I think people are looking for something that doesn't really exist in more than a transitory and ephemeral manner.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

It's fun to see the bears come out on the weekend and try to be cute only to go back in hiding come Monday. Pathetic.

yeah I though the same. trying weekend dumps is the only what's left for them right now.

I'm sure they are desperately awaiting the distribution of the gox coins..  even if none of theses coins where to be sold I'm sure bears will wanna have their feast

[JayJuanGee]

Too much ChartBuddy...
Too quiet in these here parts.
Calm before next pump?
#presundayhaiku

This correction is very much expected. I am happy that I saw another All Time high.
Halving is coming next month. So another ATH in coming months.

NO problema.  Buy them back.

It takes a while to get used to selling BTC, but when you are multitudes or even magnitudes in profits, and also if you have gotten to a status that you know that you have accumulated enough (and/or more than enough), then it becomes easier and easier to shave some off here and there at various points... and if you sell a small enough amount you realize that you still have plenty.

Saylor should be in the same camp as me... but he is not.

something is wrong with him.

You don't need to be like Saylor.. at some point, you have enough BTC.. and you can start to shave some off.

Don't get me wrong.  From what I have come to understand, it is not like Saylor is living any kind of deprived life materially, so yeah, he seems to have plenty of resources to just live.. so he seems to be making some other kind of a point by wanting to gather as many coins as he can.

But normies like us (royal perhaps?) should not necessarily need to live like that. 

At some point we have enough and we have more than enough.. and there should be no problem to set some free.. and to let someone else buy them..and get involved in dee cornz.

It's not easy to buy back bitcoins which you sold at adequate profit or it may take considerable time to buy back your coins. Like those who bought bitcoin when it went down to 20k and sold them in current bull run of 73k won't be easily buy those bitcoins back.
Saylor strategy about Bitcoin is working fine. He has 193,000 Bitcoins bought at 6 billion usd and his current holdings has value of 13 Billion. So as long as his strategy is working, he doesn't have to worry at all.
https://news.bitcoin.com/microstrategys-bitcoin-portfolio-value-soars-to-13-2-billion-marking-a-116-gain/

You seem to be out of the loop regarding Saylor.. especially sine that article is from the beginning of March.. 

Saylor had 193k BTC as of the beginning of March, but right around March 10, he announce that he (MSTR) bought another 12k BTC for more than $800 million, which would bring their total to 205BTC  And then a few days after that, he announced that he was raising another $500 million to buy more bitcoin presumptively this week and maybe MSTR will end up purchasing more than 5k more BTC with that $500 million.  You can see some of the latest MSTR updates in fillipppone's thread on the topic.

Saylor strategy about Bitcoin is working fine. He has 193,000 Bitcoins bought at 6 billion usd and his current holdings has value of 13 Billion. So as long as his strategy is working, he doesn't have to worry at all.

Saylor's strategy?

It's what many of us have been preaching for years:

Buy, hodl, don't sell unless you must, get rich in the long run.

Easy peasy.

Saylor is not doing these things in any kind of easy peasy and/or normal way.  He is a bit obsessed.

Saylor strategy about Bitcoin is working fine. He has 193,000 Bitcoins bought at 6 billion usd and his current holdings has value of 13 Billion. So as long as his strategy is working, he doesn't have to worry at all.

Saylor's strategy?

It's what many of us have been preaching for years:

Buy, hodl, don't sell unless you must, get rich in the long run.

Easy peasy.

...not exactly. MSTR is levered 2.2X, which means that IF bitcoin goes to roughly 31-32K, the intrinsic value of MSTR stock would approach zero.
They would probably not go bust, but they would probably lose 70-90% of their market cap in this scenario.
How likely is the "deleveraging"..maybe unlikely right now, albeit JPM started making noises about it.
https://decrypt.co/221873/microstrategy-bitcoin-buys-severe-deleveraging-jp-morgan
Maybe they want "in" on this deal, lol.

I doubt that it is as easy to break MSTR as JP Morgan would like to speculate, and maybe that is what Saylor is trying to get some of the BIG cats to do, which surely will bring the destruction and demise of the BIG cats a lot faster than they are already on a worse train than the bitcoin train seems to be the place to be, even if Saylor is seeming a wee bit psycho in recent times..

You threw out a lot of smart ideas, and then your last sentence 1BTC=1BTC makes no sense (even though a lot of people say some variation of that in order to attempt to mean something like only BTC matters, which is surely a known logical fallacy even though peeps still get pleasures out of saying that).

It may not make much sense, true but the stability is unparalleled.

Beyond that, I think people are looking for something that doesn't really exist in more than a transitory and ephemeral manner.

In my potentially simplified thinking, it has got to be referred in the context of something else that exists rather than referring to itself, and that might be part of the reason that we talk about BTC in terms of dollars in this thread, in order to attempt to have some common ground, even though the dollar is seeming to get run into the ground itself.. but it still can serve as a decent reference until we get something better, which of course, we are likely going to be talking more and more about satoshis since it seems that so many folks are not gong to be able to get a whole bitcoin, yet for sure we are still going to be living in confusing times for many years to come - at least in terms of the dollar reference and some of the desperateness that even seems to exist within seeming dollar guardians (Cantillians?).

Wait to buy bitcoin.

Buy bitcoin and wait.

No need to make it sound so boring, and there are probably other things that you can do while waiting.. such as eat a sandwich.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com