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

[JayJuanGee]

Stop selling ALL of your coins, please. Really basic TA. A few alts turning it could what BTC needs.

I'm not a BTC elitist nor will I ever be. I just want to see crypto be successful and retire by 40.

1) How old are you now?  

2) Do you happen to be 39?  

3) how many BTC do you have, currently?  

4) In dollar equivalency value, minimally, approximately how much do you project that you need to live reasonably on (in a "retirement" status) by the time you are 40?

And

5) do you expect to acquire more BTC between now and when you turn 40?

[criptix]

tbh if bitcoin replaces the dollar, 1 btc is more then enough to retire  

btw. i think hes 27 - so 13 years are more then enough time to reach that goal

[ChartBuddy]

Explanation

[mooncake]

tbh if bitcoin replaces the dollar, 1 btc is more then enough to retire  

btw. i think hes 27 - so 13 years are more then enough time to reach that goal

You can buy more and more things with 1 btc. With 1 dollar, see below.

[JayJuanGee]

tbh if bitcoin replaces the dollar, 1 btc is more then enough to retire  

btw. i think hes 27 - so 13 years are more then enough time to reach that goal

Surely, it is possible that BTC could completely replace the dollar in 13 years or less. 

However, I think that you are being a little bit optimistic... oh well, this is the speculation thread.

Yeah, he should be able to acquire 1 BTC in the next 13 years. 

I would front load it, and just buy the 1 BTC right away; however, if he were to dollar cost average out his investment (which is usually a better long term plan with an asset that is considered to continue to go up in value), then acquiring 1 BTC in 13 years would be acquiring approximately .077 per year or .0065 per month.

But, with a greatly appreciating asset, you would just consider a dollar value amount to invest periodically (like every week or month) and then just continue to invest that amount every time period whether it goes up or down... then over the years, you would be accumulating the asset and hopefully it becomes more valuable and your earlier years of investment would likely be more bang for the buck, but as your income likely goes up you would be able to increase your periodic investment allocation(s).

[blade87]

tbh if bitcoin replaces the dollar, 1 btc is more then enough to retire  

btw. i think hes 27 - so 13 years are more then enough time to reach that goal

Yes, in 13 years either BTC will be worth some amount we cannot fathom right now, or it will be worth absolutely nothing!

I was also joking about the retirement part. I would however love to obtain financial freedom by 40. But, retirement = I'd get bored too quickly. I like my work/career anyway. And of course I plan to try to obtain some more BTC. A maximum of 21 million coins isn't even enough to give to all the people in state of California alone, let alone China.

[JayJuanGee]

tbh if bitcoin replaces the dollar, 1 btc is more then enough to retire  

btw. i think hes 27 - so 13 years are more then enough time to reach that goal

Yes, in 13 years either BTC will be worth some amount we cannot fathom right now, or it will be worth absolutely nothing!

I was also joking about the retirement part. I would however love to obtain financial freedom by 40. But, retirement = I'd get bored too quickly. I like my work/career anyway. And of course I plan to try to obtain some more BTC. A maximum of 21 million coins isn't even enough to give to all the people in state of California alone.

By the way, work is overrated, and by the time you are 40 you will likely realize that work is overrated b/c you can certainly find better and more interesting things to do with your time, if you were to have sufficient financial freedom to be able to allow for such choices.

[MrPiggles]

I'll be retired by 33.

I save 75-80% of my income currently, have plans to build a house within the next year (eco home made with earthbags, very low cost)

Once I remove my housing  costs I will easily save 90%+ of my income.

By 33 I will be financially independent (have enough to never work again) but I will continue working, or i'd get bored.

My plan is to continue til about 40, then Ill have way more money than I need, and I can take up something interesting and expensive like diving without worrying about paying for it.

This is assuming that my x amount of bitcoins do not go up. Even if they stagnate I am on course for this, if they go to $5000 a piece it'd knock at least 2 years off that, I would be financially independent if that alone happened, let alone my savings.

[ChartBuddy]

Explanation

[kireinaha]

I'll be retired by 33.

I save 75-80% of my income currently, have plans to build a house within the next year (eco home made with earthbags, very low cost)

Once I remove my housing  costs I will easily save 90%+ of my income.

By 33 I will be financially independent (have enough to never work again) but I will continue working, or i'd get bored.

My plan is to continue til about 40, then Ill have way more money than I need, and I can take up something interesting and expensive like diving without worrying about paying for it.

Do you have a wife and kids? I'm guessing no.

[JimboToronto]

By the way, work is overrated, and by the time you are 40 you will likely realize that work is overrated b/c you can certainly find better and more interesting things to do with your time, if you were to have sufficient financial freedom to be able to allow for such choices.

Amen.

[MrPiggles]

I'll be retired by 33.

I save 75-80% of my income currently, have plans to build a house within the next year (eco home made with earthbags, very low cost)

Once I remove my housing  costs I will easily save 90%+ of my income.

By 33 I will be financially independent (have enough to never work again) but I will continue working, or i'd get bored.

My plan is to continue til about 40, then Ill have way more money than I need, and I can take up something interesting and expensive like diving without worrying about paying for it.

Do you have a wife and kids? I'm guessing no.

I have a wife, no kids. The wife is my main expense, lol

[Tony Abbot]

By the way, work is overrated, and by the time you are 40 you will likely realize that work is overrated b/c you can certainly find better and more interesting things to do with your time, if you were to have sufficient financial freedom to be able to allow for such choices.

Amen.

Seconded.

How's this tale for an example of how shit the banking industry is in my country, especially regarding BTC:

Earlier on I mentioned that a good friend of mine wants to buy around 10 BTC. He's new to the party but smart enough to see the potential. Anyway, he can't be bothered jumping through all the hoops to get an account with an exchange as it takes weeks for full access and it's a pain in the ar$e.
I thought I'd just buy them for him and send them to his wallet. So I gave him the Bpay number of my exchange account to deposit his fiat.
He sent it through and has now had his bank account frozen for what is a "suspected fraudulent transaction"!


1: It's only $5000
2: It was paid through a legitimate channel.
3: WTF??

[grappa_barricata]

Interesting article:

http://www.coindesk.com/bitcoin-mining-can-longer-ignore-moores-law/

So, if more miners pull the plug, will a supply-side shortage please you?

Bitcoins mined stay constant, irregardless of network hashing power.

[ChartBuddy]

Explanation

[Mervyn_Pumpkinhead]

DOGE pump was fun, possible continuation in a week.
Next rapid rise probably for PPC.

[grappa_barricata]

Interesting article:

http://www.coindesk.com/bitcoin-mining-can-longer-ignore-moores-law/

So, if more miners pull the plug, will a supply-side shortage please you?

Bitcoins mined stay constant, irregardless of network hashing power.

Well it decreases for a short while, until the difficulty adjusts.
This might take several difficulties....

True, but also the 'unplugging' (lets assume), will be distributed over time.
The rate of bitcoin mined over time has stayed remarkably constant, resisting any hashing power variance:


What a beautiful creature 

[JorgeStolfi]

Just bought the new HardwareWallet.
2 for 25 Euros.
https://hardwarewallet.com/index.html

How does it compare with Trezor?  (The price is WAY less than Trezor's .)

Trezor uses its display to foil keyloggers that try to steal your PIN, and to display the destination address to prevent address substitution by malicious software on the computer.

[jaberwock]

Lose your hope.

We are going nowhere but sideways.

Jaberwoooock warned you.

[Buo]

Just bought the new HardwareWallet.
2 for 25 Euros.
https://hardwarewallet.com/index.html

How does it compare with Trezor?  (The price is WAY less than Trezor's .)

Trezor uses its display to foil keyloggers that try to steal your PIN, and to display the destination address to prevent address substitution by malicious software on the computer.

The price is really low, I don't think I would trust them, but with enough feedbacks they could take Trezor's first place among hardware wallets.