Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 7244. (Read 26725953 times)

True but that wont stop it from fuckin' bitch slapping you all the way to the moon and back.

https://decrypt.co/39619/arrested-hong-kong-billionaires-newspaper-turns-to-bitcoin

more pics https://imgur.com/a/yCV7viS

the noon wall report


two kitteh's play in the clouds
1h



shark fin soup
4h

#stronghands

But does your spending really count, AlcoHoDL?

I bet that you really spent and replaced... those lilly corns,  AmiNOTkoreck?

I am thinking further.. not specifically about you, AlcoHoDL, but maybe none of us really ever arrives at any kind of perfect "fuck you" status?

We are all just fuck you status wannabes?

 

I might be exaggerating a bit because even if none of us would reach a kind of dictator of an island status, but there are graduation of options within fuck you status, too.

Remember mindrust said something like, "who needs to be rich anyhow, these days?"  The world is fucked with a virus and multiple travel and consumption restrictions, so where you going to spend all of that "on paper" wealth?  In other words, to some extent mindrust was proclaiming that there might not be any value in being wealthy.

Ok..  we do not need to go that far (such as mindrust) in our thinking to realize that wealth is still going to give more options than if NOT having wealth, right?   

Don't get me wrong, because I am also NOT suggesting that guys have to reach some extremely exorbitant level of wealth before they can either pull a kind of fuck you lever or to proclaim that they are in a kind of fuck you status, even if they choose to continue to work (hopefully as something that they really want to do rather than have to do).

Let's say that a guy is not really going to feel comfortable with achieving fuck you status until the value of all of his potentially income producing assets (or quasi-liquid) assets are  securely in thee $2million of total value region (for a presumably $6,667 per month passive income).  Of course, he could diversify out of corn.. or he can keep a decent chunk in corn, but try to consider what the BTC bottom might be?  

Recently, haven't we had been using the 200 week moving average as a kind of bottom for the BTC price, which would be around $6,500, currently.  

So, yeah if $2million is your fuck you status level, you better have 307.7 BTC or the equivalent of that in BTC and other assets (considering what the bottoms of those other assets might be, too).  A question might be whether $2million is really the necessary minimum or would such fuck you status wannabe peep be able to be o.k. with $1million.. which yeah, is half the quantity of expected passive income of $3,333 rather than $6,667 per month.

We should be capable of figuring out these kinds of things for our lil selfies, including having a financial/psychological cushion that is NOT too unreasonable that will still allow us to pull the "fuck you" lever at a time in our lives that we should be able to still enjoy it while trying to appreciate what real world factors we are dealing with, including known, unknowns and unknown unknowns.

About spending some of your corn now...

The only two things I've bought with my corn are my Trezor (soon to become the most expensive h/w wallet in the world -- excluding the coins in it), and a site subscription (fortunately only paid once).

Whenever I think of spending some of my corn, I think of Laszlo's pizza story...at which point I log out of my wallets and order two double pepperonis using fiat. Somehow the pizzas taste better that way...

GTCTTWW.

HoDL.

I mean, they deceive their own population, not just the the enemy.

Care to expand,  do you mean to highlight that we are not actually enemies but fight like it among ourselves?    
Just for clarity, enemy used here is to represent the duality, not a nameable entity.

Roach's mistakes were largely in mid 2016 when he sold all his BTC in the $700 arena, and patted himself on the back for being such a genius... which likely did seem to last for a decent number of months while BTC prices had downfalls and even relatively flat (only slow appreciation through the remainder of 2016) and barely got back above $700 until the end of 2017...

But then Roach stuck with the bitcoin is returning to sub $500 narrative.. he was stuck and could not get out of that mindset... and he seemed smart enough, so at some point, we would have speculated that he would realize that some of his presumptions were not correct.. the stubborn bastard...

and yeah, perhaps reveling in PMs currently, with a bit of a 55% price appreciation in the past 16 months or so that might not end soon, even though many of us bitcoiners realize that the gold price "boom" is largely just getting them back to 2011 gold prices, and sure they may well get some additional gold price appreciation, and sure a lot of peeps are excited about gold, currently, but really should be difficult to have confidence in gold.. whether verifiability, portability or even liquidation avenues... there might be some legit places to take a few coins or even some bars, but seems a bit  problematic - even if Armageddon really does come.

Probably one of the most difficult things to attempt to accomplish is the early on balancing of how much a BTC accumulator really can afford to invest in BTC.. and once that is done, and decided to thereby largely just let that value ride during accumulation phases, while not getting psyched out be short term value drops, even if they might be in the 85% arena.

For example, if you were in a BTC accumulation phase when the price was $10k to $19k in late 2017, then why would you not continue to be in a BTC accumulation phase during 2018, 2019 and 2020 when we had extensive periods below $10k and also a lot of time below $8k, too.

So, various short term periods of difficulties might even come within the BTC accumulation period while BTC prices are seeming to be all over the damned place.. - all the way from $3k to $19,666 within the past 3 years, and much of that time below $10k.

Once you get passed the BTC accumulation phase, then hopefully, your BTC holdings would largely be "in profits" then the question of shaving off a bit here or there should be easier - even though as vapourminer points out, there is a kind of "feeling in the air" that the current BTC price might be a weeeee bit undervalued, given current market circumstances.. causing additional hesitation to shave off a bit of BTC profits.

I am speculating a bit (and even partly on personal experience) that shaving off a few profits here and there does become easier and easier the higher the level of profits in which a HODLers BTC stash stands.  To take extremes, if the BTC profits are merely in the less than 50% arena, then there may well be a decent amount of hesitancy, but when profits start to get into the supra 10x arena, hesitancy likely becomes less and less the higher the level of "in profits" are the cashed out corns.

Gosh, when I was younger.. in my 20s, I was NOT hardly thinking about cashing out of anything for 30 plus years.. and just accumulate, accumulate, and sure I would get forced to cash out a bit here and there when I did not manage my cashflows well enough (and of course, my cashflows were much smaller back in the day).. anyhow, it does seem to get a whole hell f a lot easier with the passage of time and one of the reasons that a four year minimum investment timeline seems to be amongst the basics of building wealth in the corns asset class...

Of course if the BTC price moves down rather than up or it has some price peaks in the middle, there still remains a need to keep an eye on the prize in terms of really acknowledging and practicing what phase you are in.. and if you are young (should I go so bold as to say under 40), it is quite likely that you are continuing to be in an accumulation phase unless you have already reached "fuck you" status, which would be a pretty BIG ass accomplishment for any peeps under 40 to bring those kinds of changes in the dynamics regarding where they are at.

Actually, one of the problems that I believe exist with the young whipper snappers, maybe even moreso in the crypto (including bitcoin, too) space is that they believe that they have reached fuck you status before they have actually reached such status... hahahahaha... and there can be some BIG ASS reminders of that during high asset volatility periods (especially when asset price bottoms seem to fall out.. even if just for short periods of time).

Not just enemy.

Seems the truth these days matters very little while the narrative proves much easier and more effective to control.
IMO, that is the essence of war, deceiving the enemy to believe an inaccurate reality. , essentially control of the mind.
— Marshall McLuhan, "Culture Is Our Business", 1970, p. 66

We are collectively compiling our best understandings of reality because it is absolutely essential we have the correct version if a positive outcome is to be expected.    It's natural to protect oneself from cognitive dissonance yet critical to remain flexible and open enough to weigh conflicting points of view without condemning one another to conspiracy and NPC boxes.

Most of us are in Bitcoin because we took the risk to think outside the box,  I originally came here because it had an abundance of open-minded, critical thinkers whom provide an invaluable re-education on the truth of money and the internet of things.

morning thoughts, /rant over  

Bitcoin 11,746  Go Bitcoin!

Image shows properly on my side...

https://i.ibb.co/Q60ztps/Screenshot-2020-08-24-Wall-Observer-BTC-USD-Bitcoin-price-movement-tracking-discussion.png

Look how cute WO looks using Dark Reader. Try it. Your eyes will love it.

Plunge Protection Team

https://www.investopedia.com/terms/p/plunge-protection-team.asp

Corn sideways. What's new?

Undertone of up. I like the sound of that.

Stonks. Word fits perfectly. Like a sad, dying clown.

It should be rather obvious by now, that I have nothing better to do than post stupid stuff on WO...

Come on, Bitcoin. Do something!

Yeah.. that's cool.  What a trip you are in for.  Just sent my firstborn off to college.  I have wept repeatedly.  Your life changes.  A lot.

I assume that must be hilarious.

For this one... the only reason this worries me is I thing institutional folks have been doing the short/manipulate/ long/manipulate game at least a little.  I think that comes out as some of the bart-ing, and it's particularly obvious around end of week/month/contract times.  So if they are shorting they are probably also setting up some big sells.

That said, I have for quite a while envisioned a situation where they get spanked hard, which Bitcoin does to EVERYONE that tries to control it.  And we could be close to that.  Some day they are gonna set up all the shorts and the tide is gonna come in super hard and wash them all out.

When that happens i will eat a slice of cake.

I really need to try to keep up...

 Congratulations JSRAW!



edit: Oh, that's supposed to be for the baby