Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 8650. (Read 26723376 times)

Of course, BSV is so goddamned stupid, you gotta hedge if you believe or invest in that.  Similar with a lot of the other pie in the sky shitcoins. When you believe some or part of the shitcoin talking-point nonsense about being better than BTC and being BTC 2.0 and so much of the phoney baloney, then yeah, you better be diversifying into bitcoin because you are surely banking on dumb, if you are investing into shitcoins.

Like my signature says, if you invest into bitcoin, you really do not need to diversify into all of that crap (diversifying your overall portfolio outside of bitcoin/crypto into other industries/sectors is a different subject than merely referring to diversifying within crypto), but the same lack of diversification philosophy would be dumb to follow if you were to invest into any of the shitcoins, whether BSV or any of the others.. you better be diversifying otherwise you are likely to get totally reckt.. just a matter of when, not whether.

Thanks for sharing, I've been looking at the new bullish channel developing that could result in a bull flag with a relatively high target, but hadn't seen the bearish rising wedge pattern on the same chart   A breakdown from current levels could be more bearish than I had initially considered, especially now we are forming a bear flag on the 1hr with a target of aound $8200.

I might have different assumptions about the traditional 4%, which I thought was meant to be a perpetually sustainable withdrawal rate because it is presumed that you are going to be able to average at least 4% per year returns (some years higher and some years lower).  So, 4% should even work for someone who lives to  268 years old.

Some tricky parts are 1) withdrawing beyond 4% per year (and dipping into principle, and then if you end up living longer after you have depleted the principle).. 2)  NOT being able to sustain at least 4% on average returns on your investments, and if you believe that is actually happening to your investment, then you need to reduce your withdrawal rate.. most investment advisors believe 4% to be safe because they believe that they can achieve at least that level of returns in a sustainable way or 3) you have miscalculated how large of a principle that you need.. and the 4% returns is not enough (that is in the $5million $200k per annum is not enough)...

Part of the reason that you would want to error in the high side of obtaining a higher principle before your retire (or pull the fuck you lever) is to attempt to be able to account for the various unknowns, including cost of living increases that might happen or prolonged downturn in the economy that would end up reducing your returns and things like that... Of course, if you expect that you are going to die earlier than you can dip in to your principle and even completely liquidate your principle, but then yeah, you could become kind of fucked if you continue to live.. 

Yeah, one or two of the supplied PSU's blew up on me on the short time I used them, but I always planned on wiring up a high efficiency PC PSU.
Think I sold them on ebay!

The FPGA ones (first set) were a bit late. The ASIC ones were VERY late, but still made good profit on them.

Must be a compliment coming from you.  thanks jbreher, you affectionate beast.   



#nohomo

An old soul has experienced sex billions of times in the past lifes! Experience is the only thing we can bring with us.

 Man.  I waited nearly 7 months to get my BFL miners.  When I did, the taxes my government charged were more than the value of the Bitcoin I could mine with them even if I didn't include the cost of electricity.  To add insult to injury, my wife called me at work the first night I was running them to tell me of a strange smell coming from the room.  I told her to unplug them and in the morning when I got home, I saw that one of the power supplies had melted - those were SHIT (the power supplies)!  I connected some better PSUs and ran them for a while to heat my feet under my computer desk.
 I've always wished I had simply spent that money on coins rather than miners - it would have bought ~ 30 Bitcoins.  

It is already 2020 now.... and they have never stopped saying "virtual currency" or "digital currency". Dumbs...
When they learn to say "crypto currency", bitcoin price will be something that they can not even dream about  

You can figure about $3,333 per month of passive income for every one $1 million in value (that is assuming a 4% per annum withdrawal rate), so personally, I believe that $2 million would be decently comfortable enough for a passive income of $6,666 per month.

Of course, individual standards, lifestyle choices and even past standards (which affect expectations) are going to vary, and more dollars can be better in terms of being able to enjoy more comfortable aspects of life and having more flexibility.....and even cushion.  I personally would NOT consider $1million to be a starting point, unless you were to believe that $1million were the likely bottom of a cycle.. so maybe right now, we could consider $3,000 per BTC would be the bottom of this cycle, so in that regard, we would need to have a minimum of 333.33BTC ($1million/$3,000) portfolio to sustain a $1million value and to be able to passively (and sustainably) cash out at $3,333 per month.

We could end up speculating wrong about the bottom of wherever we are, so lets say that someone wanting to retire speculates that $10k is going to be the bottom in the future, and s/he speculates that s/he needs $2.5 million sustainable to be comfortable pulling the retirement (fuck you) lever.  that is 250 coins, and yeah if we go up to $100k and the person diversifies out of bitcoin, then that is another story too, but it does seem good to be realistic in terms of thinking about the bottoms of markets rather than the tops, even though there could be some decent diversification practices that are employed at the tops in order to feel better prepared for the extremes of the potential bottoms.

Those were the days.
I had a pretty tidy return from this:

I bought 6 in all.


And then this:

That was like 8 months before I started. On Oct 18th, 2013..sometime during the day, BTC was $150 when I looked.

I miss my Newbie BTC Youth! The thrill of being absolutely 'clueless' on wtf you were doing and still making out like a bandit!

KNC Jupiter Miner arrived 0ct 18th, 2013. I got it sopping wet full of water and parts floating inside. Dried it out. It was $5,131.80 USD.

Tried to turn it on, IT CAME WITH NO FRIGGING SWITCH, I was utterly befuddled.

Emailed them got a prompt reply to use a 'paper clip' and short out the PSU leads to the

computer cable for power to a computer motherboard.

Sat there 'stunned!'

I mean really, I paid the amount above for this beastie and it does not even have a 'frigging' switch!

 Closed my eyes, turned my head away for expected flash/explosion and of the certain 'bricking' of the device.

Worked fine, Ran like a top for a couple of years, till difficulty got to high on BTC vs electric. (considering BTC price now should have run it another 1/2 year!)

Best Miner I ever had par none for output and stability. Sometime during that day, I looked up the price of BTC it was $150 USD per BTC!

I think I made 1 BTC a day.

I 'long' for a return to those glory 'newbie' home mining days, but alas,they are gone forever.

does csw know about this?

he would most likely sue them and take his own devs to court if they ignore his decisions. or split from bsv if they dont listen. just extrapolating this on observed past behavior.

anyway as you say they dont have to follow so it will be intersting as to how long bsv puts up with him.

LOL

Yeah, they stopped doing that after continually breaking the ATH for months

BBC News - Bitcoin virtual currency reaches all-time high price
http://www.bbc.co.uk/news/technology-21601608



remember this?

https://i.imgur.com/rRCf3K4.png

So you're banking on BSV users making good decisions?

Hmm.

Well ironical my first reaction would be to expect a break from that pattern and reset to support.   That could be positive but the rise presently seems a little too aggressive, bigger gains come from regular sells occurring but failing vs the larger (positive) trend.

Aww, shit.
My bad.

BSV preformed so good while it was lead by someone who could not answer any questions that was asked at all and was dreaming he is Satoshi.  What will happen now when some normal capable man will take control of BSV. Extremely bullish!