Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 8728.

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: ivomm on December 29, 2019, 08:52:26 AM

Quote from: JayJuanGee on December 28, 2019, 11:52:22 AM

[edited out]

Speaking of over investment in Bitcoin, we should distinguish the two types of "all in". The first type is in terms of fiat savings and the second is in terms of net worth. If someone invested all savings in Bticoin but this is only 50% of his net worth, he has some options. In case of emergency and if the price of Bitcoin is below the investment point, he have a choice to sell some belongings or, if he has a stable job to use bank loan/overdraft/credit card limit.

Of course, any guy (or gal) is going to need to measure up his/her various resources that are available for when shit hits the fan (or may hit the fan), and yeah, NOT being overinvested many times (maybe most) will mean that emergency funds are not dipped into because they are redundant... they have levels of duplication that might show that circumstances are worse and worse the more emergency funds that are dipped into, and who the fuck wants to be going through his garage trying to figure out what to sell in order to be able to NOT have to sell the nice wheels that are not owned outright. Honey, maybe we should downsize a bit or take in a lodger? Fuck downsizing, if the motive is because you have failed to adequately prepare for your situation.

I am not against taking in a lodger, but sometimes the motive is out of desperation rather than having enough actual space for a lodger who ends up sharing the kitchen, and also building or living in a situation in which you purposefully have a lodger and space available is different from having to force to put a lodger into an already cramped two bedroom apartment or some other less spacious situation that is not of your own choosing... sure some people can rationalize that they like having couch surfers, but that seems like something that would be more of your youth rather than when you get older, or doing it out of desperation, like I mentioned.

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: ChinkyEyes on December 29, 2019, 08:25:22 AM

Quote from: JayJuanGee on December 28, 2019, 11:52:22 AM

Quote from: ChinkyEyes on December 28, 2019, 07:39:57 AM

There is no such thing as being over invested in bitcoin. Pour all that filthy fiat into this imaginary digital gold token shit.

Nobody has ever gotten rich, from not taking any risk Wink

Well, you are not "over-invested" until you are.

I would rather NOT have to come across any kind of scenario that I am forced to sell my BTC at any time that is other than my choosing. Surely, once your BTC become sufficiently profitable, then at that point, you don't really mind that you might have extra value in BTC.

Let's say that you have $100k in BTC value and $8k in cash, but you unexpectedly run into an emergency expense that is around $20k. BTC prices are in a dip, but you might be fucked because you are forced to sell off some BTC, at a time that is not of your own choosing, and worse if BTC is in a dip during that time, but surely better if your BTC are profitable rather than unprofitable when you are forced to sell some of them to cover your unexpected expense. Then as soon as you sell to cover your expenses, BTC does a 3.5x in 3 months and during a period in which you don't have enough of a cash flow to replace any of the BTC that you had been forced to sell during the dip. Sure would have been nice to have had other resources to draw from for that $20k expense, rather than having to draw from your BTC stash during an inopportune time, right?

Sure, my example might not be extreme enough, but you should be able to recognize what I am trying to say... you could end up getting wiped out of your BTC investment.

I have said, several times, that I had purposefully invested in BTC in a much higher than expected proportion than my comfort level (which is another way of saying overinvested) because I have wanted to feel a lot of comfortable in selling BTC on the way up. That is part of the plan to be able to skim off a few BTC here and there on the way up, and in that way, I feel comfortable with my level of overinvested.

So, surely, overinvested is possible, and each of us has to determine what kinds of income/expenses s/he has going on in his/her life in order to figure out what kinds of resources that we are going to be able to draw from when some of the unexpected expenses might end up playing out at the most inopportune times. Yeah, things are going all good and fine and thinking that we have cushions here, there and everywhere, and fucking bitcoin dips 50% and then 65% and then 85% and we thought that the bottom was in at 50%, and in the mean time, we have real world activities going on that could cause us to have some unexpected expenses taking place at the same time that BTC's price is dipping and at a time that we have already used up a large amount of any spare cashflow that we had in our sock drawer.. that is looking pretty sparse during those times of need. Why the fuck do I have to pay that tax? Why did they store gasoline in the closet? why is my new lambo/leer jet parked in that location, and why wasn't the insurance up-to-date? Fuck? Is the world against me, everything negative happening at the same time?

Yeah, shit happens. Especially if you do not adequately pee pare ur lil selfie. Wink

Excellent advice and a rational way to look at your investments. I was just joking around about over investing. Even though it's true you have to take some risk to eventually get ahead, but investing in Bitcoin is in my opinion risk enough.

However the example you mention does not really apply to someone of my age, because most of my generation do not have 108k in savings/investments. I do not run into emergency expenses around the 20k. An emergency expense for me would be around 1-2k which I will be able to cover even though I have around 90% of my wealth in BTC right now.

Of course, you can scale the amounts and tweak the circumstances. I was just taking from some modified and a bit lower version similar to what LFC had mentioned earlier, and trying to make it somewhat relatable... of course, you could divide those numbers by 10 or even devise a scenario that is more realistic for your particular circumstances.

There are going to be scenarios in which any person could engage in conduct that rises to the level of overinvesting. Sure, there are some folks who might have their parents as their backup piggy bank, but still there might even be scenarios in which those persons might end up over-tapping their parents, too.. a card that such persons might not want to play, but then ends up having to attempt to tap again, after already having had tapped and their "overinvesting" gets them into such a pickle.. because the BTC price goes lower and longer than anticipated.

Let's say for example, mindrust goes "all in", but then instead of being a 4 year fractal, bitcoin ends up playing out into a 8 year fractal. Sure, that might be a long shot, but that kind of situation could really bust someone to have to be able to scramble for 4 years longer than anticipated, and maybe some other shit happens and earning power gets screwed up, too.... Whatever, there are fucked up things that happen in this world, and sometimes what any person does on the margin can make a difference, whether it is pride or whatever, it is very fucking difficult to recover from a BIG loss.. much more difficult than it is to maintain a system that preserves wealth. I see a lot of poor fucks who are my age (let's just say 40s, 50s, 60s) who did things slightly different than me throughout life, took some BIGGER risks than me, here and there... lived a good life, but are fucking desperate in their older times, and I am NOT trying to act all self-righteous about the matter, but there is only so much that I am willing to do to help them out while they are struggling with their bills when they should be able to live it up, if they had been a bit more conservative, living within their means and not gambling so much with their finances.

JayJuanGee

legendary

Activity: 3948

Merit: 11416

Self-Custody is a right. Say no to"Non-custodial"

Quote from: Icygreen on December 29, 2019, 04:15:09 AM

Quote from: JayJuanGee on December 29, 2019, 03:38:42 AM

Quote from: VB1001 on December 29, 2019, 03:14:41 AM

^^
RR

I suggest for the next year that you achieve some goals:

- Recover your legendary account
- Read the Bitcoin technical document carefully
- Read Frederick Hayek

I think with this you will understand where we are going and something else, HODL

Roach does not want to learn.

He is not here to learn.

He is here to teach us about topics that are largely irrelevant to this thread and/or wrong.

Hopefully, he is getting paid for his efforts, and hopefully, he does not believe the nonsense that he stubbornly and repeatedly repeats here for his troll/shilling thrills.

I think he might actually believe his ramblings, if so and possibly even if not, mental health risks and concerns should be obvious to any reader.

Could be that he believes. More likely that he is either entertained or just entertained by stirring shit.

Quote from: Icygreen on December 29, 2019, 04:15:09 AM

Perhaps he is being paid,

If it is largely off topic, then meaning that he is posting about PMs rather than about bitcoin, then what are the motives? Yes, BTC is taking market share from Pms... so i suppose there is that, as a motive.

Quote from: Icygreen on December 29, 2019, 04:15:09 AM

actually, speaking of which, I've always wondered if you are or have been paid to post?

I was only paid during the couple of years that I was in a signature campaign.... but with that I had figured that I could just post as I usually do, and just get paid. After a while, it became too burdensome for me to want to continue being part of any campaign... also, it started to seem like petty pay compared with the bullshit of waiting to get paid and then constantly changing terms, which made it seem almost like a regular job to ensure collection.

Quote from: Icygreen on December 29, 2019, 04:15:09 AM

I can't recall the topic ever but it must have been discussed, you know, paid by word perhaps? Wink

Variations of the topic have come up through the years. Ultimately, I write as many words as I determine necessary to make whatever point that I am striving to make.

Quote from: Icygreen on December 29, 2019, 04:15:09 AM

Not that you don't come across as genuine, or even helpful, just curious and of course I'd respect your right to privacy.

Fair enough.

Quote from: Icygreen on December 29, 2019, 04:15:09 AM

Edit: goddammit, was that a dick move to ask? Sometimes my filter isn't tuned the same as others.

Yes, I agree. A little bit of a dick move, and maybe a bit distracted, but I suppose somewhat relevant when there is an ability to determine that a person (such as yours truly) spends a quite a bit of time participating in the forum... not just me, but other members, too.

I surely spend the vast majority of my forum time participating in bitcoin related topics. There are others who spend a lot of time engaged in forum politics (I tend not to) or in dabbling in a variety of shitcoins (I tend not to do that either). By the way, much of the time, I try to spend on bitcoin, so I don't dabble as much, either, when the topic of the thread deviates into too many areas of off-topicness, except once in a while it is tempting to jump in here and there...... but surely there are some topics that I am not going to really touch, except maybe to make fun of them.... Tongue

Quote from: JSRAW on December 29, 2019, 04:32:39 AM

hahaha Icy, let's wait for JJg

Hahahhaha, JSRAW....

No need to wait no more... Shocked

El duderino_

legendary

Activity: 2744

Merit: 13618

BTC + Crossfit, living life.

Quote from: ?? on ??

Not sure why, but 2020 sounds extremely bullish for crypto (BTC+ALTS). I've got an inner feeling that I'll be rich before presidential elections.

But yeah, we all define "rich" in a different manner, and I believe that if I somehow pull a 5x on my BTC holdings and 10x on my ALTS (which mostly consists of ADA) holdings, I'll be rich. So $50,000/BTC and $0.50/ADA is all basically what I expect (and hope for) before November.

Let's see, let's see...

I could absolutely live with that, got work on my holding then though....

makrospex

sr. member

Activity: 728

Merit: 317

nothing to see here

Quote from: Arriemoller on December 28, 2019, 03:23:20 PM

Quote from: makrospex on December 28, 2019, 02:06:53 PM

Quote from: d_eddie on December 28, 2019, 01:22:46 PM

Quote from: makrospex on December 28, 2019, 01:21:07 PM

Quote from: Arriemoller on December 28, 2019, 03:25:03 AM

Thank you heslo and somac, Fuck you makrospex.

huh?
WTF?!
We all three said the same: Set it to zero.
Huh

You didn't spoon feed him and were late with the details Roll Eyes

Alright, i see...
I typed my reply in a hurry while the other two WOs were posting already.

EDIT: Backread the thread now and it obviously was the step-by-step google selfhelp instructions from me that set him up.
However, that's how the pro's do it Grin

If you don't want to help that's fine, but in that case, just don't reply.
Using your precious time to mock me for asking instead of using the same time to answer my question is an asshole move in my book.
I know very little about computers and need to bee spoon fed to get it right, I don't know what I'm doing and really don't want to do something wrong. I can't tell if a online tutorial is correct or not, but I do trust the people in here, that's why I ask. If you knew of any good tutorial, why didn't you direct me to it instead of being a dick?
I don't really see people saying "google it" whenever someone asks about something non computer related so I'm assuming that it's just you computer nerds that have that special asshole gene.

Nah, there is no asshole gene. Asshole geeks don't let the people they "help" educate themselves. They like to act like magicians or something like that, leave their victim in the no-know-zone, so they can play the indispensable hero again and again.
This was in fact the opposite, mixed with my sloppy reading, cause i was on the leave.
I just tried to be ironic, you said i should answer like i would to a baby, so... no offense, dude

LUCKMCFLY

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Activity: 2632

Merit: 1883

Leading Crypto Sports Betting & Casino Platform

A great ROI, Bitcoin shines with its own light.

Quote

In a world where the popular stock market index, S&P 500, combining the 500 best-performing stocks in the U.S. has surged with 189% in the last ten years, other well-known companies are delivering more considerable results.

Source: https://twitter.com/JonErlichman/status/1209119957860208642

Quote

$1 invested back then would be worth more than $90,000, representing a 8,900,000% ROI in ten years.

Quote

While there are several stocks with high returns, Bitcoin is outperforming all of them by a country mile. In its relatively short existence, the largest crypto has noted numerous improvements in its usage and security, raising the question of what is to come and how it will affect our investments and entire lives.

Source: https://cryptopotato.com/8900000-roi-bitcoin-is-the-best-performing-asset-of-the-ending-decade/

ivomm

legendary

Activity: 1891

Merit: 3096

All good things to those who wait

Quote from: JayJuanGee on December 28, 2019, 11:52:22 AM

Quote from: ChinkyEyes on December 28, 2019, 07:39:57 AM

There is no such thing as being over invested in bitcoin. Pour all that filthy fiat into this imaginary digital gold token shit.

Nobody has ever gotten rich, from not taking any risk Wink

Well, you are not "over-invested" until you are.

I would rather NOT have to come across any kind of scenario that I am forced to sell my BTC at any time that is other than my choosing. Surely, once your BTC become sufficiently profitable, then at that point, you don't really mind that you might have extra value in BTC.

Let's say that you have $100k in BTC value and $8k in cash, but you unexpectedly run into an emergency expense that is around $20k. BTC prices are in a dip, but you might be fucked because you are forced to sell off some BTC, at a time that is not of your own choosing, and worse if BTC is in a dip during that time, but surely better if your BTC are profitable rather than unprofitable when you are forced to sell some of them to cover your unexpected expense. Then as soon as you sell to cover your expenses, BTC does a 3.5x in 3 months and during a period in which you don't have enough of a cash flow to replace any of the BTC that you had been forced to sell during the dip. Sure would have been nice to have had other resources to draw from for that $20k expense, rather than having to draw from your BTC stash during an inopportune time, right?

Sure, my example might not be extreme enough, but you should be able to recognize what I am trying to say... you could end up getting wiped out of your BTC investment.

I have said, several times, that I had purposefully invested in BTC in a much higher than expected proportion than my comfort level (which is another way of saying overinvested) because I have wanted to feel a lot of comfortable in selling BTC on the way up. That is part of the plan to be able to skim off a few BTC here and there on the way up, and in that way, I feel comfortable with my level of overinvested.

So, surely, overinvested is possible, and each of us has to determine what kinds of income/expenses s/he has going on in his/her life in order to figure out what kinds of resources that we are going to be able to draw from when some of the unexpected expenses might end up playing out at the most inopportune times. Yeah, things are going all good and fine and thinking that we have cushions here, there and everywhere, and fucking bitcoin dips 50% and then 65% and then 85% and we thought that the bottom was in at 50%, and in the mean time, we have real world activities going on that could cause us to have some unexpected expenses taking place at the same time that BTC's price is dipping and at a time that we have already used up a large amount of any spare cashflow that we had in our sock drawer.. that is looking pretty sparse during those times of need. Why the fuck do I have to pay that tax? Why did they store gasoline in the closet? why is my new lambo/leer jet parked in that location, and why wasn't the insurance up-to-date? Fuck? Is the world against me, everything negative happening at the same time?

Yeah, shit happens. Especially if you do not adequately pee pare ur lil selfie. Wink

Speaking of over investment in Bitcoin, we should distinguish the two types of "all in". The first type is in terms of fiat savings and the second is in terms of net worth. If someone invested all savings in Bticoin but this is only 50% of his net worth, he has some options. In case of emergency and if the price of Bitcoin is below the investment point, he have a choice to sell some belongings or, if he has a stable job to use bank loan/overdraft/credit card limit.

ChinkyEyes

sr. member

Activity: 687

Merit: 301

Quote from: JayJuanGee on December 28, 2019, 11:52:22 AM

Quote from: ChinkyEyes on December 28, 2019, 07:39:57 AM

There is no such thing as being over invested in bitcoin. Pour all that filthy fiat into this imaginary digital gold token shit.

Nobody has ever gotten rich, from not taking any risk Wink

Well, you are not "over-invested" until you are.

I would rather NOT have to come across any kind of scenario that I am forced to sell my BTC at any time that is other than my choosing. Surely, once your BTC become sufficiently profitable, then at that point, you don't really mind that you might have extra value in BTC.

Let's say that you have $100k in BTC value and $8k in cash, but you unexpectedly run into an emergency expense that is around $20k. BTC prices are in a dip, but you might be fucked because you are forced to sell off some BTC, at a time that is not of your own choosing, and worse if BTC is in a dip during that time, but surely better if your BTC are profitable rather than unprofitable when you are forced to sell some of them to cover your unexpected expense. Then as soon as you sell to cover your expenses, BTC does a 3.5x in 3 months and during a period in which you don't have enough of a cash flow to replace any of the BTC that you had been forced to sell during the dip. Sure would have been nice to have had other resources to draw from for that $20k expense, rather than having to draw from your BTC stash during an inopportune time, right?

Sure, my example might not be extreme enough, but you should be able to recognize what I am trying to say... you could end up getting wiped out of your BTC investment.

I have said, several times, that I had purposefully invested in BTC in a much higher than expected proportion than my comfort level (which is another way of saying overinvested) because I have wanted to feel a lot of comfortable in selling BTC on the way up. That is part of the plan to be able to skim off a few BTC here and there on the way up, and in that way, I feel comfortable with my level of overinvested.

So, surely, overinvested is possible, and each of us has to determine what kinds of income/expenses s/he has going on in his/her life in order to figure out what kinds of resources that we are going to be able to draw from when some of the unexpected expenses might end up playing out at the most inopportune times. Yeah, things are going all good and fine and thinking that we have cushions here, there and everywhere, and fucking bitcoin dips 50% and then 65% and then 85% and we thought that the bottom was in at 50%, and in the mean time, we have real world activities going on that could cause us to have some unexpected expenses taking place at the same time that BTC's price is dipping and at a time that we have already used up a large amount of any spare cashflow that we had in our sock drawer.. that is looking pretty sparse during those times of need. Why the fuck do I have to pay that tax? Why did they store gasoline in the closet? why is my new lambo/leer jet parked in that location, and why wasn't the insurance up-to-date? Fuck? Is the world against me, everything negative happening at the same time?

Yeah, shit happens. Especially if you do not adequately pee pare ur lil selfie. Wink

Excellent advice and a rational way to look at your investments. I was just joking around about over investing. Even though it's true you have to take some risk to eventually get ahead, but investing in Bitcoin is in my opinion risk enough.

However the example you mention does not really apply to someone of my age, because most of my generation do not have 108k in savings/investments. I do not run into emergency expenses around the 20k. An emergency expense for me would be around 1-2k which I will be able to cover even though I have around 90% of my wealth in BTC right now.

El duderino_

legendary

Activity: 2744

Merit: 13618

BTC + Crossfit, living life.

After the hard work of yesterday..... Mic gonna initiate “lazy Sunday”

Exhausted from cooking.
Initiate last Sunday.
Lazy, warm, in home!

Closing our year bro’s.
Winter is getting colder.
HODL keeps us warm.

Icygreen

legendary

Activity: 1464

Merit: 1136

Man!, if you want a glimpse into the future, this is the best article I've read all week! And Yes, Bitcoin is spoken about several times.

https://www.google.com/amp/s/genius.com/amp/Balaji-srinivasan-silicon-valleys-ultimate-exit-annotated

BitcoinGirl.Club

legendary

Activity: 2800

Merit: 2736

Farewell LEO: o_e_l_e_o

Good morning WO!
Observing @ $7,324
All good!

bitserve

legendary

Activity: 1862

Merit: 1530

Self made HODLER ✓

Great! I think I am finally up to date on WO again. Sorta... as I probably missed some posts due to my chaotic reading here and there. One of those magical @JSRAW summary posts would have come really handy. Oh well.

Good conversation about @mindrust investment indecision and great advice against overinvesting most everyone gave. I do agree. Also there are intermediates choices between keeping with the same DCA strategy and going full retard into it. Maybe just double the amounts when catching ~~knives~~ DIP's?

Maybe you will later regret if Bitcoin pumps like crazy but... that remorse is nothing in comparison to the one you would experience if you go all in and Bitcoin dumps #DYOR though

Price basically in the same sideways. It would be weird that doesn't change before or ON end of year... but maybe that's exactly what will happen just to piss me off. Bitcoin being Bitcoin.

We are half less "poor" than we were just one year ago so... This is fine.

Let's call this a year and let's hope next one gives us as much growth/recovery as this one did.

realr0ach

sr. member

Activity: 924

Merit: 311

#TheGoyimKnow

JayJuanGee, I was wondering if I could ask you an important question:

Arriemoller

legendary

Activity: 2282

Merit: 1767

Cлaвa Укpaїнi!

Quote from: Globb0 on December 29, 2019, 05:09:42 AM

I wish, it keeps going offline at the moment.

Are you possibly posting in the wrong thread?

Arriemoller

legendary

Activity: 2282

Merit: 1767

Cлaвa Укpaїнi!

Quote from: Findingnemo on December 29, 2019, 05:08:32 AM

Quote from: LFC_Bitcoin on December 29, 2019, 05:00:35 AM

Quote from: Findingnemo on December 29, 2019, 04:52:10 AM

Another proof for, why should we HODL much longer.

New year is just ahead couple of days,what you guys are planning to do on the beginning day of 2020.

Don't say bang bang. Grin

LFC's gf is tempting already for that special bang bang Cheesy

Quote from: Arriemoller on December 29, 2019, 05:04:40 AM

Bom bom then?

Possibly because I am kind of guy likes to bang in the ass, let's try something new this year bom bom on her big B**BS. Cool

TMI

Globb0

legendary

Activity: 2702

Merit: 2053

Free spirit

I wish, it keeps going offline at the moment.

Findingnemo

hero member

Activity: 2366

Merit: 793

Bitcoin = Financial freedom

Quote from: LFC_Bitcoin on December 29, 2019, 05:00:35 AM

Quote from: Findingnemo on December 29, 2019, 04:52:10 AM

Another proof for, why should we HODL much longer.

New year is just ahead couple of days,what you guys are planning to do on the beginning day of 2020.

Don't say bang bang. Grin

LFC's gf is tempting already for that special bang bang Cheesy

Quote from: Arriemoller on December 29, 2019, 05:04:40 AM

Bom bom then?

Possibly because I am kind of guy likes to bang in the ass, let's try something new this year bom bom on her big B**BS. Cool

Arriemoller

legendary

Activity: 2282

Merit: 1767

Cлaвa Укpaїнi!

Bom bom then?

LFC_Bitcoin

legendary

Activity: 3556

Merit: 9709

#1 VIP Crypto Casino

Quote from: Findingnemo on December 29, 2019, 04:52:10 AM

Another proof for, why should we HODL much longer.

New year is just ahead couple of days,what you guys are planning to do on the beginning day of 2020.

Don't say bang bang. Grin

Globb0

legendary

Activity: 2702

Merit: 2053

Free spirit

Quote from: BayAreaCoins on December 28, 2019, 09:36:51 PM

Quote from: El duderino_ on December 28, 2019, 05:47:57 PM

Welcomed everyone with rosé Dom Perignon 2005....

Omg... please tell me that isn't Dom P in those glasses with those 3 small ice cubes in each.... (it doesn't appear to be)

You want to use no ice or BIG ice on anything that's over $100 a bottle.

I personally use round ice balls... they are always a bigger hit than the juice inside the glass because people are monkeys.

These are what I use and strongly suggest https://pappyco.com/products/sphere-ice-molds-set.

I also STRONGLY suggest DomP's 1996 rose.

You can make these ice shapes in a childs water bomb balloon. just freeze a handful.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 8728. (Read 26707945 times)