Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 56. (Read 907248 times)

If there are buyers for such a place at roughly the same price then wonderful, it does seem like a pleasant situation to be in to be able to sell and purchase 3Xs-ish the amount of BTCs at this stage of the game. Yeah.. or rethink your lot in life and pretend you currently have less than 10 BTCs and what that would mean in the event of the next bubble or two and what that would get you compared to what is already on your plate (former). Enjoy your fruits! So many like minded don't have that nor anywhere near it.

I completely agree with you re: the marginal utility of money, But I thought you were willing to take a slight loss and sell quickly to capitalize on what you consider to be a bargain price for Bitcoin. You are basically valuing the castle at ~ $1.5 million, roughly the same as your purchase price although in Bitcoin terms you would be almost tripling your ROI.

Thanks for the update Risto.

I don't usually try to borrow money, but when I do, no bank is ever willing to give it. So we have a mutual understanding.

It's fine. The portfolio is doing really well without, and the risk level is low as it is. Introducing borrowing, would significantly increase my risk, without a corresponding increase in return.

And what's more - the marginal utility of money goes down dramatically after a few million$ anyway. Even if you had projects to do with the excess, such as I do. The availability of financing things that are worth doing has not been a problem for me for 7 years at least, and it's little correlated to my net worth.

Of course getting to such a position is a long and rocky road. At least it was for me.

What makes you think he hasn't borrowed money against the value of his real estate to invest in bitcoin?

Tenders in excess of [$0.5M + BTC4,000] are appreciated. Or any kind of deal which provides for more resources to the activities there, with or without a formal change in ownership. The castle is a property of a company, making deals very easy to implement if there is any value in the collaboration. I already have such stuff in negotiation. It seems that I am still needed in the Bitcoinsphere 

I thought you said you were going to sell the castle and buy more bitcoin.

My observations:

- Getting to shake hands with people IRL is a real thing for me who live far away and am generally an introvert thinker/early entrepreneur. Even more important, though - as I can't easily rid me of my personality traits - is to connect with the connectors. Which I did.

- The place was packed with guys who actually do stuff, and not everybody in the Bitcoinworld was there. We are many.

- A participant, about 3 years after first learning about Bitcoin, and 1.5 years after buying it for the first time, explained to me: "now I get it". He was using Bitcoin first time for value transfer and realized that it does work, and does work better than the alternatives, which in many cases are not even available if speed, reliability, etc. are a requirement.

We have to let the time work in our advantage. I also needed about 3 years from first hearing, to getting it. Not that I am stupid, just a human. I also first used Internet/WWW in 1995, but did not find it useful. In 1999 I started with earnest. If Internet were a token, this is equivalent to buying 1 bitcoin in 2015 for $200, then selling it at a wash after seeing no compelling usecase, and coming back 4 years later when "everybody" (a few % of world's population) uses it, and not caring that 1,000 bits cost more than an entire bitcoin did when it was still nearly useless.

- Bitcoin's future looks bright indeed. My original notion (from 2011) that in 75% it's going to fail and 25% pay off handsomely (the latter happened as I bought a castle for what was originally a <10k investment for me) is now updated to 25%/75%. The thought experiment of "in what probability BTC is trading at less than the current price in 2020?" I ran there among many people, resulted in an average 25%. I am doing the numbers for you as a scenario/EV calculation:

25%: fail (<200, average: 50)
25%: stall (200-1000, average: 500)
25%: some growth (1000-10000, average: 3000)
25%: success (>10000, average: 50000)

These are quite conservative estimates and numbers. EV = $13,400 per coin, percentage increase 6,000% (60x), annualized: 127%. Until the situation changes, I'll be happily holding onto my bitcoins, which after the recent carnage do not even constitute an oversized chunk of my portfolio of assets

After always beating the previous ATH's so far with 3 major bubbles, I am giving only a 50% chance for that happening again, still the EV is mindboggling, or at least very nice. Everybody in the world needs to erase Bitcoin from their mind, for the success NOT to materialize. Hardly likely, as research points to the adoption/usage/VC/whatever growth of 100-300% even in 2014, pricewise an abysmal year.

- I'd like to thank the organizers, Bruce & Carolann Fenton and Amy Loughran-Dolan, plus all the participants for the inspirational event, the talks, table-talks, lobby talks, beach talks and walk talks.

- I'll try to open up and follow up. Don't hesitate to contact me using any channel, please bear with me since I am sometimes concentrated with urgent and/or important matters for up to weeks, and unresponsive. Without that, I could not think so much, and would be a pretty useless guy.

- There is a smallish event/s planned at the Bitcoin castle next summer, as well as there were 3 of such last summer. That's why the castle is there. If you want to come, contact the organizers.

Glad things went well for ya and the weather as well but I'm definitely interested in hearing what these updates are. I assume since you have an event planned at your castle in the summer you heard some pretty positive things and thus have a happy outlook going forward.

My main EW count suggests that,
if we are not in a more complex correction,
the minimum at 152'40 was the bottom
and the correction is over:




Edit:
As RyNinDaCleM states here, this is not a valid count:
green 3 does not make a lower low than green 1
and, therefore, red A is not a diagonal.

The service at Malla is beyond comparison.

Not at all.  That is a description of a radical version of legal tender laws.
Bitcoin is legal tender exactly nowhere, (and that is a virtue).

If you want to throw some Revelation at it...  the block chain would be closer to the "Book of Life" of Rev 20:12, wherein all the deeds are recorded for all time, and people may be judged upon these.

Greetings from the Roundtable. I am safely back home, also the event did not show obvious signs of hijack/sabotage.

Yes, we did have a 20-yo reporter guy posing as one who had a message from Satoshi (later expelled from the scene), Bruce's luggage with all the conference stuff was lost (for the first time in his life of hundreds of flights), some attendees were suspected of being employed by TLAs (which is statistically the case anyway, considering how enormous their secret budget is, and what is the average pay), Internet was working only in the rooms (which were a mile away from the venue, making the logistics hard), etc.

On the positive side, we had a nice gathering of quite prominent people (my ticket to the party, the Bitcoin castle, was among the most expensive ones though), the place and the weather there was nicer than what I left in Finland when leaving (coming back, it was a surprising +6°C here, considering midwinter), my talk (about the 3 approaches to investing, and why the gambling/VC one is actually both the least risky and the most profitable) was well received with almost half of the ones listening giving personal positive feedback afterwards, I got a much needed update on what is happening in Bitcoinworld (after all, this was my first BTC conference ever, apart from the ones I organized), and an even more exclusive event in the castle is already planned for the next summer

More photos will be nice ... but don't forget to enjoy it there!


The service at Malla was 100000000 times better! Everyone who was there can confirm it:)

And the Ocean view is there! Except it's not an Ocean it's a sea

Thanks for the photos & info! This seems like a WONDERFUL place! Have fun!!!

Looks amazing there!  The food and service can certainly be something to bring back to Malla.  That ocean view would be a bit difficult to bring to Malla though.

Arrived in conference venue. Updates will likely be scarce from now on. Let's see how it works, so far has been great

Hey, I took Paul with me at least!  Chef Martin is probably busy with his other restaurants, haven't seen him around...

I'm amazed you went there without me! Say hello to Chef Martin Berasategui and ask him to come at Malla so I can teach him a few things

Enjoy

The weather was a bit cloudy, but at least my balcony is big and my private butler takes me everywhere. The whole Family Concierge is basically at my disposal since nobody else seems to have business needs. The Paradisus Palma Real Punta Cana is a bit too holiday-oriented to my liking, but that's completely my own fault of course for going there



The service here is good, something to really learn how to do myself in Malla once BTC price is back where it belongs. After enjoying my wonderful lunch (all 9 restaurants except the Michelin-starred one are inclusive), was quietly smoking an Arturo Fuente perfetto and having Café con leche. Two butlers approach me and say that since I am Russian, would I not like to have some cognac with my cigar. I don't exclusively like cognac at lunchtime, but since they insisted, I volunteered to have "just a sip". The glass of Rémy Martin soon brought was by no means small though. I told them that they are too kind, but normally I only drink port, and that only after dinner. They were sorry to say that no port is available in the whole hotel.

Two minutes later they said that it is available by bottle at a surcharge. When browsing the list, they come to me at a third time with an opened bottle of a very nice port that I soon realized having a glass in front of me. No charge.