Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5244. (Read 26723255 times)

Currently 31 degrees outside, 26 degrees inside, just great, even the cats are too hot to do anything.

I thinkenings of it this way, if I (personally, me) had 750 BTC in cold storage for 9 years, and I needed to access that today (or yesterday, or any time this year 2021), after seeing its dollar value go fluctuate between $20k up to $60k in the first quarter of 2021 alone, I would probably do something similar.

Cash out 100 BTC, save the remaining 650 BTC and put back into cold storage (or in this case, the owner did something else, perhaps he split it some more into more parts depending on how he thinks it should be managed.)

So yes, many of us are here because the fiat world is devaluing, but at the same time we also know the dollars and the fiats are not disappearing soon.

Considering that the average person can survive on approximately $40k in expenses per year (or less), then $1m ought to last that person at least 30 years, even if conservatively invested in traditional equities/fixed income assets. $3m therefore will be about the same thing for anyone with less than $120k in annual expenses.

Most people will have more than 9 years with that kind of fiat cash dollars, even if they don't invest in anything and just dump it in a cash "savings" account, or spending account.

The remaining 650 BTC (worth at least $20m USD), I probably will not need myself, as I'm sure the real owner of that address did not need it for 9 years, can be put back into cold storage and not touched for at least another 9 to 10 to 20, maybe to 30 years.

I did not bother tracking where the rest moved though, so I don't know what could have happened to it. The wise thing to try to do is obfuscate the trail using whatever tech there is now, such as CoinJoins like Wasabi or Samourai or putting it into multi-sig, or if you trust an exchange to handle that kind of coin temporarily before sending it back to cold storage.

Personally, I would divide that into maybe 65 different addresses of 10 BTC each (or even smaller), whatever I can handle just thinkenings about it, just so I can keep them separate.

Even if I did not have to use the cash, allowing a budget of at most 10 BTC a year, the stash could last 65 years, at whatever price it is then.

Of course, if in the next 10 to 20 years, we see that fiat is seriously and miserably failing according to whatever standards we believe in the future, then surely, just HODL onto the BTC and spend as needed. Or don't spend, try to make the $3 million dollars in cash last as long as you can.

Of course, this all depends on what is one's current income and spending numbers. The usual 4% rule and $40k annual expenses are just arbitrary numbers. Some have it higher or lower.

Yes his reasoning was faulty, bitcoin will be worth a lot more then 10 million and it will happen in our lifetime, most of us anyway.

Explanation

Mostly similar to myself.

Also the major deviation from S2F is concerning.

Oh look, my 18000th post. What a sad bastard

It's not like I need the money right now, in fact I never really want to sell. Family home excluded, and only then just enough to keep the mortgage repayments bareable and the wife happy. Though if it goes up over 100k, and stays there, the income I could draw from 1-2% of my holdings would cover any repayments so maybe not even sell any then.

I guess that's why this dump got to me honestly. Unlike 2014, 2018, 2020 I wasn't close enough to my dreams and now that I was very close it just felt like a bullet in the back of the head (no panic though). Also, it was an unexpected move going off price history, and the thought that this could be a prolonged bear market after such a small move up is disheartening. I'm still hoping that this is a correction (mini bear market) in the longer bull supercycle as well, but I'm not seeing much bullish price action, though on-chain seems to be showing some good signs. Like others, I'm thinking towards the end of this year we should see something, but if we don't by then, well, that ain't a good sign.

Like yourself, my holdings are for my children. I won't spend any on myself as I'm a hermit who hates consumerism and loves hodling.

Has happened to me too. Every time I check my cold storage, I see more dust... It is indeed a dust attack. Nothing to worry about though, just mark all such small amounts as "do not spend", so as to neutralize the attack(s).

I just opened up an Electrum wallet which hasn't been used for several years, to find several identical and very small transactions. Suspecting a dust attack, but I've never paid much attention to the issue since I've never encountered it before. Should I be doing anything about this? Should I be worried?*

*ever noticed how so many MSM articles and interviews start with "should we be worried about...."

EDIT: just found fillippone's useful post here: https://bitcointalksearch.org/topic/dust-attack-what-it-is-why-it-is-dangerous-and-how-to-prevent-falling-to-it-5175238 - thanks!

@DanielJoe916

Third largest #BTC  wallet just added 122 BTC ($3.9 million) during the recent dip. This wallet now holds 116,120 BTC worth $3.7B. This whale entity loves buying #BTC  in the low 30s.

@venturefounder

https://twitter.com/danieljoe916/status/1415155606529339394?s=21

Explanation

Just when we all thought he was dead...

https://twitter.com/WhalePanda/status/1415228140763459589/photo/1

Some whales buying the dip? I also bought for €600. I can do this longer than bears think 

As bitcoiners we can’t forget some very key important things

It’s not a get rich fast thing though with buying bitcoin we are getting very fast rich/richer as we where before investing in bitcoin and it’s  on a most honest, most honorable, financial independent manner as we ever could of think….

It’s not a get rich fast, but it’s fast as all the rest if we respect it’s path and just follow the DCA, but the dip, stacking sats etc but most of all not the mindrust way…

That is very true & when I was gobbling up cheap coins in 2014 & 2015 I would have gladly shook on $5,000 per coin. I’m a greedy bitch though, I have my heart set on obscene wealth

Lol

Explanation

Well no economics was involved.. he just did the math and it's correct.

Now imagine yourself a year ago, saying $32,383.11 sucks

You prefer snorting hopium over truth?  To each his own I guess  .

Of course it seems inevitable that if bitcoin remains relevant (which most of us here strongly believe), and the us dollar is still a thing, that purely due to inflation it will reach a 10 million usd/btc price.  It just won't be dollars with the purchasing price of those in 2009 when Hal made the prediction.