Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
So, are you a betting man, goldkingcoiner?
goldkingcoiner is a betting man..
#confirmed.
The vast majority of my corn is mined, not purchased, if that helps you understand why this whole wall observation thing is just an amusement for me 
Or to be more accurate, the vast majority of corns I had were dumped and wasted in the careless 2015s, a small fraction that I still have makes me a hodler, and now that mining isn't what it used to be I turned to buying yet smaller fractions using other sources of income because why not.
Or to be more accurate, the vast majority of corns I had were dumped and wasted in the careless 2015s, a small fraction that I still have makes me a hodler, and now that mining isn't what it used to be I turned to buying yet smaller fractions using other sources of income because why not.
I do frequently argue that the concept of deciding how much to allocate to bitcoin versus fiat remain similar no matter your sources of income, but surely I understand that anyone who earns income in bitcoin is going to be faced with on going decisions regarding how much to liquidate at various points in time, and surely in recent times, we had so many folks discussing ways to employ leverage (debt) including miners, so there are likely quite a few miners who are now going to be under liquidation pressures because they had ended up employing a lot of leverage/debt that becomes way more difficult to service when mining income dries up and even the assets being held as collateral for debt (bitcoin and mining equipment in this case) ends up going way down in value.
My typing reminded me of your earlier point about the entrances of various financialization tools (players from wall street), which seems to be inevitable with any kind of invention (technology - or what do we want to call it?) that comes onto the scene and into society.. and bitcoin itself is even claiming to be a kind of money, storage of value and all that built into one.. so there's almost no way to escape financialization attempts that might start out way less than perfect, perhaps manipulation attempts and all over the place in terms of whether "fair" market value is being assisted to be found or desires to drive bitcoin in to the ground with an ability to short it more effectively... the school of hard knocks of "price discovery" no?
By the way, it seems to me that I only name-call my fellow forum members as being too whimpy when they provide me with some level of detail in which I can hook onto it.. hahahaha looking at you Biodom.. (I cannot help myself sometimes)
You, me and Biodom have a similar forum age, so in that regard, sometimes there are some abilities to frame these kinds of whimpy or not matters in terms of something like a quasi-middle of the road $50 per week DCA strategy, which should have gotten such person somewhere in the ballpark of 22.6 BTC, but surely we all make mistakes.. and sometimes we end up having to start over.. like my own ability to ONLY get above 0.63 BTC.. but still I am not talking about me.. Instead, I have been attempting to talk about ways to attempt to measure whether even some relatively modest BTC accumulation strategies may well have ended up bringing some comfortable results.. even when mistakes happen to have been made along the way..
You, me and Biodom have a similar forum age, so in that regard, sometimes there are some abilities to frame these kinds of whimpy or not matters in terms of something like a quasi-middle of the road $50 per week DCA strategy, which should have gotten such person somewhere in the ballpark of 22.6 BTC, but surely we all make mistakes.. and sometimes we end up having to start over.. like my own ability to ONLY get above 0.63 BTC.. but still I am not talking about me.. Instead, I have been attempting to talk about ways to attempt to measure whether even some relatively modest BTC accumulation strategies may well have ended up bringing some comfortable results.. even when mistakes happen to have been made along the way..
Well, that makes me very not whimpy, if I understand your criteria correctly LOL
From my perspective - potentially flawed - overall miners do not tend to be very whimpy unless they are completely selling all of their coins on a regular basis.. and maybe even failing to study into bitcoin.. .. and since I was a bit presumptive in not even recalling that you had a mining background, that means several of my premises for my framing of "what is whimpy" may well have been off in the first place..
For the time being, it probably would be just fair enough to go by your self-assessment representations regarding your not being whimpy, whether true or not.. but at least, I did kind of provide some kind of reference point.. so we would not end up being too abstract.. because in the abstract, most folks would proclaim themselves to "not be whimpy." for whatever that is worth. hahahaha
Historically, it was pretty damned common for me to suggest that guys and gal just get started with DCA investing into BTC with $10 per week, and since March 2020, I have been more inclined to suggest $100 per week.. even though I understand that some folks are in economies in which they are really struggling even to come up with $10 per week extra cashflow... but we try to do what we can, and generally speaking quite a few normies with cashflow in western societies should be able to reasonably come up with $100 per week or more to invest into bitcoin.
If someone's poor economy allows them only $10, then even if the absolute result is smaller than it would be in a better economy, it's still likely to be a relatively good result for their poor (presumably lower cost of living) economy. However it has to be a truly disposable can-afford-to-lose no-risk-of-mindrusting amount of money. If someone puts $11 in but then have to dump their coins on a dip because they overextended themselves... it's no good. And if $0 is all they can afford, it should be $0.
not unlike points that I frequently make in terms of both not over doing it and having cashflow projections (and likely some kind of emergency fund) ; and also the ability for very poor normies to invest very very small amounts could also improve economic situations of very poor normie peeps so long as they do not over do it.
Other than that, DCA is what 99% (being generous here assuming that at least 1% know how markets work) of people should do instead of chasing dildos. Unfortunately - not specific to Bitcoin but also quite typical to other savings types - many people fuck it up and end up poor when they could have easily afforded comfortable retirement.
I think almost every single one of us has a kind of tendency to want to overdo it (and want to gamble and wants to expedite our process of becoming more richie faster).. and nearly every single one of us has to fight back those kinds of urges.. because there are also folks attempting to tempt us into spinning the wheel.
For sure, none of us should necessarily act as too much of a prude on these kinds of balances, because each person does need to find his/her balance and to feel some freedom in rolling the dice if they want to roll the dice... point.. and frequently I believe that there still can be ways that regular folks can still gamble with part of their funds in order to scratch aspects of their itch and to have a little fun.. maybe less than 10% of their value or some prudent amount.. should be fine.. but again and again and again.. the inclination to gamble tempts many folks to go too far without having adequate principle preservations (building) mechanisms in place.. and sometimes we do hear about those guys who had nothing and went all in.. and maybe some of that is spin. . but some of the real success rags to riches do involve outrageous kinds of doubling, tripling down.