Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5639. (Read 26607882 times)

Who has enough fiat to double xrp marketcap? CBs? Crazy over-leveraged HF? Someone here?

I was mostly referring to bitcoin "winter" season and yes, it is likely to happen..maybe by the end of 2021, maybe a bit later.
No guarantees, of course.

Don't quit just yet. However, you could cash out the equivalent of maybe 5 years to act as a buffer, then you can live on that for about 5 years. The rest of the 122.2 years worth, kept in BTC, might appreciate some more. Gives you time to think about what to really do in 5 years.

Your job will allow you to look "normal" for the time being, and your attitude may change somewhat as you should be more secure and relatively happier in life.

You are not going to live another 127 years anyway ...


The other thing to consider is to cash out 25 years worth, put that in traditional investments, and live on the interests alone for the next 30+ years. You will still have 100+ years worth of bitcoin, which, in 25 years time, could be worth a thousand years of living expenses. Then you could go crazy, or do whatever you want, within reason.

You think Stock market will go Bearish by the End of 2021?

Some countries are less skimpy in providing medical care to their citizens as US of A. There is that.

Yea, I know, they had to pay bigger and badder taxes in the interim, but the sight of 60-61 year olds being fired en masse by the efficient US corporate system with such people having to fill 5 years doing some random work to pass the time until Medicare kicks in (at 65) is something that you cannot think about positively, really.

This is not my situation, mind you, but a good friend of ours was let go at 61 (from highly specialized company) and had to move back to Canada (her native land) to get medical care after being in US for most of her adult life.

Otherwise, in US it is ACA, which does not allow any decent money to be made before slapping $20K/year or above cost on you for minimal benefits.
We like to be brutal to our constituents/citizens, but, hey, bitcoin ownership fixes this.

If you're asking others then would say you're not ready to quit yet mentally.

There's nothing wrong with frugal living.

I live in a dirt cheap rented basement apartment and wear second-hand clothes.

Some things you don't go cheap on though, like high-quality food and drink.

One thing I learned from my poverty days was that when you start earning, keep spending as if you were poor.

Wasting money on things like fancy clothes, homes or cars is just plain foolish.

Hahahahaha

Just seemed like fun to say it.


Yeah but how are you calculating the value?  based on $63k?  Sure you might get lucky, but we should not be basing our fuck-you lever pulling planning on luck (not to bring up luck again, because luck might be a past appreciation rather than something that you anticipate as a given, especially "good" luck).

  If you are using $63k or anything close to that, then that kind of framing would not be a good measure.. there are peeps here that you could ask about their experiences in doing that (I am not going to provide names).  

Now if you are using some other kind of calculation, would be interesting to hear about it.  

You know my measure, which is currently just over $11k and seems to be going up a few hundred every week.. so in no time, we should be supra $20k with that one.. I am sure that there are other less conservative measures, and I suppose that those could be used as well for guys who might be on the margins (or is it on the cusp?  or on the threshold) of pulling the fuck you lever.. and not clear about if it would be too risky..

Also, is your 127.2 years accounting for medical?

By the way, any calculation that can go as far as 127.2 years, should also be able to have a built in function to figure out an amount (that might be slightly lower) that is perpetual.. meaning that you are ONLY living off of the passive income... of course, since all of us are mortal, we could have a kind of provision that ends up UPping the spending in what we project to be our last years of life in order to use up most or all of it - to the extent that we are not planning to pass on wealth.

By the way (II), even though I am using a calculator that only is currently giving me $11k per coin, right now, I am actually using 12% per year as an amount that I can withdraw based on that indicator rather than the traditional 4%.. so the low number is not as bad as it might seem, and it still gives me numbers that are quite great, even for my situation and projecting into the future.. I mean I already have income coming in that I am trying to surpass in order that I can start dipping into my corns.


Yeah but we are not even likely close to parallels of either the 2013 ATH or the 2017 ATH in terms of getting to a place of a blow off top or even the feeling of getting to a place of a blow off top, as some folks want to project that bitcoin is in an unsustainable location.. so few understand (with any kind of conviction) that bitcoin is not even close to a blow off top.  Of course, the ones who are HODLing their BTC and buying BTC do understand that we are not even likely close to parallels of either the 2013 ATH or the 2017 ATH in terms of a blow off top.

Opsec indeed prevents me from divulging too much. I did have a reasonable appraisal of Bitcoin's potential fairly quickly so whilst not having an accumulation target per se, I bought what I could with money I had lying around and would have bought a similar amount later but the banks were messing with the poor chap I was dealing with so that was that (though hopefully that went well with him). I bought in drips and drabs after that as more options became available but when you have a good stash, the more you're putting in, the more you're risking losing on the downside. Perhaps not the optimal way to view things but hindsight is always 20-20.

The fork was pretty much a non-event for anyone with a cool head on their shoulders. When it occurred, everyone was left with an equal amount of each coin. If the fork was successful, it would go to the moon, if not, BTC was likely still set to go to the moon. It was only those chasing greed, trying to maximize their funds or with hard-line agendas that felt the need to sell all of one to buy the other. I like to leave room for the chance that I am wrong so I kept both. That's all I'll say about the fork here because that's all that's relevant but I have a few opinions about it.


Frugal living can be a hard habit to break. You should see my car. But just as you talk about preparing for "uppity", spending more than is needed is similarly antithetical to benefiting from that movement. We are talking about what could be an $8000 shed probably coming out at around $15,000 or more in this market. That's a difference not to be sniffed at.

No mat at least wait for the $100k party, it’s just around the corner!

Math and science?

JJB

Not a chance of $65k in the next 24 hours.  So don't even think it.    


 


Yes you are.  Nohomo.

A thought occured: can SEC (US) prevent third countries exchanges from posting stock tokens of US companies? The testing ground is 'nance and its desire to trade tokenized TSLA.
Of course, US & China are precluded, but it is an interesting development. Would Coinbase go for something like this? You betcha.
https://www.thestreet.com/crypto/bitcoin/tesla-stock-token-binance

Good point: You don't want to buy a lot of stuff that requires money to maintain without having the money in a stable place. The right thing to do is take out enough to support the thing plus all the things the thing needs (for example could you really park your McLaren on the street next to your townhouse? Probably need a garage, mechanic, etc) in the event that the bitcoin goes on a serious sale.

Same for work, I'd say make sure you have 10 years or so in the bank in case Bitcoin drops and you need to spend some time re-learning how to work.

I'm just trying to keep my skills sharp at this point. I'd become a marshmallow in about 30 days otherwise.

https://twitter.com/blockbytch_/status/1381995166907604996?s=21

Hm?  Maybe I would need more details, and surely I am not trying to screw with your OPsec, so it really does not matter too much to me if you got into bitcoin via mining or BTC purchases because sometimes there could be some of the same dynamics of a kind of ongoing purchasing that attempts to reach an accumulation target.. whether that started to take place in 2012-ish or 2013/2014-ish.

My story is that it largely took me a year from late 2013 to late 2014 to reach my accumulation target - but I still could not just sit on my then stake so I largely continued to accumulate through 2015 (albiet somewhat lower quantities or percentages of my stash overall because I had a sense by late 2014 that I had already more than adequately established a sufficient BTC stake).

I think that by late 2015 and even into early 2017, I went into a kind of maintenance stage but I continued to still be a bit nervous (or would it be insecure?) about if I had enough BTC.. even though I had already told my lil selfie that I had enough in late 2014.. so it was a kind of ongoing weirdness in my psychology about whether I really did have enough.  

By the time early to mid 2017 came along, I really was feeling less insecurity about whether I had enough BTC.. and funny thing was that change in my mindset also coincided with a decently large part of my stash getting removed from me.. but I was still starting to more solidly consider that I have more than enough BTC.

Of course, our stories likely diverge a bit with the shitcoinery bullshit that was coming into the space in 2017 (and yes referring to BIG blocker nonsense), and sure you suggest that you hung onto your bitcoin stash during that period (until present), but I was getting the sense that you failed and refused to continue to prepare for BTC UPpity during that time, and so you can sugar coat all that you like, but if you are worried that lumber prices might have doubled in the past several months, that really should seem like a BIG so fucking what for anyone who actually adequately prepared for bitcoin UPpity in the recent years... so your statement in itself (which likely reflects how you really feel about your level of richie) seems to reflect something problematic in your preparation for UPpity.. .. and sure maybe I am wrong? and sure maybe you can set me straight on these presumptions, but my own preparations have caused me to transition (especially based on BTC's price performance since September of now more than 6x) into a kind of NOT giving any shits about price rises of various goods that I want, including if they might have doubled in recent times.

Where am I going wrong in my thinkenings and presumptions about your likely failure/refusal to adequately pee pare ur lil selfie for UPpity, Richy?

By the way, some of the BIG blockers really got reckt in either buying into Bcash or failing/refusing to keep an adequate BTC stash.. and I apologize if I am actually lumping you into that category because I do recall that you have stated that you have hung onto your BTC stash.. but those kinds of levels of "hanging onto your BTC stash" are likely relative terms and bitcoin's price appreciation might have rescued you and maybe several other BIG blockers from their stupid ass levels of dumb to the extent that they hung onto some of their BTC... but they are no where even close to where they would have been if they had got completely out of those various bcash scammenings... which scammenings from Bcashes are ongoing, even if they are quite a bit less convincing, they are still trapping newbies into their worthless coins /projects.


That's not a great strategy, Biodom..

especially for a longer term bitcoiner.. and likely demonstrates that you inadequately pee pared ur lil selfie (baby talk intended) for UPpity.

 

 

By the way, I do appreciate that earning a cashflow does cause for money coming in to need to be distributed, and surely, I am not saying that a year ago, you should have leveraged against cash that you did not have based on cashflow that you expected to have, so there remains that bit of an angle that is going on, too... that is a kind of exception to the intensity of my criticism of buying on the way up rather than buying on the way down... and also Bawb's strategy has been to sell BTC at various points lower and then to buy higher (but to buy BTC back while it is dipping), and I would not recommend that strategy either even though, so far, it seems to have been working out for him with the BTC price continuing to go UPpity.

Oh man, should we get into a 2015-like crypto winter you may want to reconsider that job, lol.

What I'd do is keep a stash of cash for at least 12-24mo of expenses on the side just in case BTC somehow screws up for a while and YOLO.

IPO price in dollars. The market is quite "hot" right now with government sanctioned counterfeit dollars.