Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
On August 24, 2018 I called for Bitcoin to drop 50% to $3k before rallying back over $10k.
That call was deadly accurate and allowed Morgan Creek Digital to buy the dip.
Here is my next price target.
offthechain.substack.com/p/bitcoin-is-l
https://twitter.com/apompliano/status/1143131557827211266?s=21
That call was deadly accurate and allowed Morgan Creek Digital to buy the dip.
Here is my next price target.
offthechain.substack.com/p/bitcoin-is-l
https://twitter.com/apompliano/status/1143131557827211266?s=21
The POMP is one of my favourite crypto peeps on Twitter.
I think $100,000 6 months earlier but we will see -
Damn, I hope you correct. If Bitcoin gets to around say $20k even by the middle of next Summer, I think my head will explode.
Not sure which is worse though, limiting my expectations on price, the price pumps and I am confused. Or thinking the price is gonna pump past the ATH
with the 'heady" adrenaline rush of 'fear' 'panic' and damn...now wtf do I do? Sell/Hodl/Panic?
sh*t at least my life is 'exciting' with crypto in the recesses and windmills of my mind.
Stuff to do.
Bitfinex to introduce 100x leverage...
The Rogue Wave and coming nosebleed ATH and collapse of Core BitcOn (perhaps to ~$775 at the halving).
So we all need to move our coins to legacy addresses?
The downside to keeping hodl stash/cold storage coins in legacy addresses is that you'll probably have higher transaction fees when you finally move them.
The upside is that you'd avoid any potential segwit based attacks on bitcoin, like if miners decide to take all the segwit coins.
So, I guess you have to balance the estimated future fees for non-segwit transactions with the estimated potential for miner theft.
Another set of downsides is that you are not supporting segwit, increasing the likelihood of a segwit attack through your nonsupport and supporting the FUD spreaders predictions by doing what they want you to do.. You can do what you want, but don't you find it a bit problematic to try to get others to do the same, especially when it remains a kind of attack on bitcoin's current direction involving segwit and based on incomplete information of BIGblocker FUD spreaders?
So, if I keep my cold storage coins in a legacy address, how does the affect anyone but me?
Attacking segwit isn't going to accomplish much at this point anyway. That battle was already fought, and the pro-segwit side achieved a decisive victory. I agree that any negatives about segwit will remain big blocker talking points, as they try to make BTC look weak. That doesn't mean there aren't still legitimate criticisms of segwit, and lightning, for that matter.
Exactly where I'm at with all that.
Also, I've kept the BCH and BSV stuff on my legacy addresses. In the United States, if I don't touch the stuff, no taxes. As soon as I touch this 'moon drop' of many bitcoin forked coins
(BCH/BSV/BTC, etc) Then I pay 'capital gains' on when it hit my bitcoin legacy addresses from the sky. So, not an ideal situation, but why I've held on to BCH and BSV, etc and not
stripped them from my legacy wallet. I dread someday with an audit having to explain Bitcoin/Altcoins/Forked Coins/ICO's etc to an IRS person. A year ago on an unrelated crypto
tax question I called the IRS to ask about something and off hand I asked how many IRS folk were working with the IRS representative answering the phone in that IRS center.
She said 100 plus. I asked her if anyone there could answer any IRS type tax questions on crypto and/or Bitcoin, etc. She was gone for quite a bit, so I think she really worked
the room, but NO ONE knew anything at that IRS call center on how all this crypto/BTC works. Anyway, as an aside.
But back to the point you state, there are more than a few reasons to just keep your stuff in cold storage (safety deposit box in my case) along with the segit info above.
Brad