Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
JayJuanGee
on 12/10/2023, 22:03:51 UTC
⭐ Merited by Hueristic (1)
There are so many folks who have not yet gotten into bitcoin, so for sure making it through a full cycle is nearly putting you at OG status... give it another 10 years, and you will likely really be starting to feel that you have been a bitcoiner for like forever, especially since I suspect that we may well still be having half or more of the population without any or hardly any exposure to BTC... and sure it is hard to say what the level of BTC's adoption will be in the next 10 years - perhaps in the 10% to 20% range?  That would be bullish.. ...  

I would like to be surprised with higher levels of adoption.. and so many crazy things could end up happening in the next 10 years.. and I hate having doom and gloom thoughts.. so maybe it is just easier taking one day (step) at a time.

Have you reached your BTC accumulation goal, then if not keep accumulating.

If you are in your maintenance stage, you might be accumulating and liquidating.. so attempting to keep some kind of a meaningful balance.. not easy with such a volatile asset.. even when some of us feel that we have decent systems in place.. we still might have some questions regarding how to manage/maintain it.
As I'm here for the rest of my life I will keep counting on Bitcoin, In the coming cycle I'm sure around 20% to 30% population is gonna recognize Bitcoin as their priority.

Holy shit, Hamza2424.

You know that a cycle is ONLY 4 years long?

And, sure maybe "we" could give you a wee bit of a benefit of a doubt and to suggest that you really meant two cycles.. this cycle and the next one, but that still ONLY gets you 8 years under the most generous of interpretations of your own words.

Maybe in the last almost 15 years we have gone from zero to 1%.. and gosh are we being generous with even thinking that 1% of the world's population somehow has some exposure to bitcoin that would mean that bitcoin is a priority for them?..

I have my doubts, but it is not easy to measure bitcoin adoption.. but we could say that 1% of the worlds population is right around 80 million people... so in the next 4-8 years you are suggesting that bitcoin adoption is going to be 20x to 30x that number.. which, with the same quantity of world's population would be 1.6 billion to 2.4 billion.

you seem to be a bit optimistic, and I cannot completely fault you with that because they numbers do seem to be reachable, but I question reaching them in a 4-8 year time horizon - even if we could realistically and reasonable figure out how to measure being in bitcoin in such a way that it is "a priority" for those who are in it.  On that side note, it is almost like you would be creating too many requirements.. because bitcoin accumulators/HODLers could go about the process in a variety of ways and even if they might have had created something like 1% to 25% as their bitcoin allocation level, there would be a lot of variance in terms of how to manage that too... and are we able to call some kinds of behaviors more in line with "putting BTC as a priority" than other kinds of behaviors?

Bitcoin accumulation goal, you mean that amount well for now I am not sure about what should be the specific number you can say untill now it's X, but I'm on the way.
 

Well, maybe it is worth it to attempt to clarify this point.. but the accumulation amount is surely going to depend upon your own situation, goal and timeline. .. and this might be another good reason to refer to my entry-level fuck you status chart.  Check this out: 


Entry-level Fuck you status chart - attempt to prognosticate.
BTC_Price Bottom Start $                    StartDate               Gain/Time(days)                 FU Status Goal                
                               $46.41                    6/1/14                    182.6 (6 mos)                       $2,000,000

(Date)
(RL_Price)
(BTC Bottom)
(%gain/time)
(% Rate ∆)
($ Amount ∆)
(#Coins/FU Status)
06/01/2023
$26,820
$26,043.89
23.36%
95.00%
$6,083.52
76.7934437
11/30/2023
$32,127.40
22.19%
95.00%
$7,129.32
62.2521586
05/31/2024
$39,256.73
21.08%
95.00%
$8,275.81
50.9466784
11/29/2024
$47,532.53
20.03%
95.00%
$9,519.43
42.0764474
05/31/2025
$57,051.96
19.03%
95.00%
$10,854.60
35.0557632
11/30/2025
$67,906.56
18.07%
95.00%
$12,273.79
29.4522355
05/31/2026
$80,180.35
17.17%
95.00%
$13,767.61
24.9437674
11/30/2026
$93,947.96
16.31%
95.00%
$15,325.04
21.2883814
05/31/2027
$109,273.00
15.5%
95.00%
$16,933.66
18.3027829
11/30/2027
$126,206.66
14.88%
96.00%
$18,775.49
15.8470242
05/31/2028
$144,982.15
14.28%
96.00%
$20,705.93
13.7948016
11/29/2028
$165,688.09
13.71%
96.00%
$22,716.57
12.0708737
05/31/2029
$188,404.66
13.16%
96.00%
$24,797.87
10.6154487
11/29/2029
$213,202.53
12.64%
96.00%
$26,939.30
9.38075172
05/31/2030
$240,141.83
12.13%
96.00%
$29,129.50
8.32841159
11/30/2030
$269,271.34
11.64%
96.00%
$31,356.43
7.42745218
05/31/2031
$300,627.76
11.18%
96.00%
$33,607.54
6.65274557
11/30/2031
$334,235.31
10.73%
96.00%
$35,869.99
5.98380823
05/30/2032
$370,105.30
10.3%
96.00%
$38,130.76
5.40386749
11/29/2032
$408,236.06
9.99%
97.00%
$40,797.47
4.89912626
05/31/2033
$449,033.53
9.69%
97.00%
$43,528.37
4.45401037
11/29/2033
$492,561.90
9.4%
97.00%
$46,315.48
4.06040337
05/31/2034
$538,877.38
9.12%
97.00%
$49,150.40
3.71141947
11/29/2034
$588,027.79
8.85%
97.00%
$52,024.35
3.40119980
05/31/2035
$640,052.14
8.58%
97.00%
$54,928.27
3.12474543
........
05/31/2038
$1,013,573
7.15%
97.00%
$72,455.00
1.97321752
...........
11/29/2043
$1,960,433
5.27%
98.00%
$103,375.00
1.02018279
.................
11/28/2048
$3,139,783
4.31%
98.00%
$135,277
0.63698674
.................
05/29/2056
$5,639,679
3.67%
99.00%
$206,870
0.35463011

and surely we don't necessarily need to use my numbers.. in order to figure out our goals... but let's say that you have been aggressively accumulating BTC since mid-2020, and you have accumulated close to 3 BTC; however, when you look at the chart (or whatever your own chart), you see that you probably are going to need a minimum of 4 BTC in 10 years in order to really feel that you are at entry-level fuck you status, so maybe you continue to aggressively accumulate BTC and in the next 5 years, you are able to accumulate another 3 BTC bringing your total portfolio to 6 BTC, so thereafter you largely feel that you have reached (and surpassed) your BTC accumulation goal, and you have a bit of a cushion (perhaps 2 BTC greater than the amount that you believe that you need by the end of 2033... even though nothing is guaranteed in bitcoinlandia).

So what you going to do?

You surely are going to feel more free the closer and closer that you get to reaching your BTC accumulation goal, but you are also going to likely feel a bit of freedom once you surpass your goal and you might even start to play around a bit more with your surplus BTC because you have a bit of a cushion, and if you are smart and focused about it, maybe you will play around with any BTC that surpasses 5 BTC because you even want to keep a 1 BTC cushion from your bottom line amount that you believe that you need to have by the end of 2033 in order to be at entry-level fuck you status whether you use my chart or some other potentially reasonable chart.

Hmm, it's hard to say but with the passage of time my physiology about Bitcoin and the market is much more mature now, so most of the time I can say I've done well in handling the fear & FOMO.

I think that you are referring to psychology, right?

I agree that the more that you have a plan and the more that you attempt to stick with your plan, then the more likely you are going to gain confidence and/or comfort from that, and you might have even come to realize that so long as you keep your goals reasonable, prudent, conservative and something in your own grasp to achieve, then likely you have ended up surpassing your own goals in a variety of ways.

Today, Trezor just announced a new hardware wallet (Trezor Safe 3) that seems to be quite competitively priced.. ... They are accepting orders, and it is supposed to start to ship in mid-November.
https://trezor.io/trezor-safe-3
I still have some troubles understanding how a hardware wallet with a secure element could be open source.  If anyone can explain or even point to some sources, that would be something that I would be interested in hearing a bit more about how that can be done.
That's a good question and should be answerable by anyone that decides to trust a hardware wallet and if they cant then they are doing it wrong.

Another good question is why a server at ledger headquarters failing under load stops ledger users from being able to transact.
https://twitter.com/P3b7_/status/1590578730702761984?ref_src=twsrc%5Etfw

Here is a good read that explains alot of fundamentals in an easy to digest manner.

https://bitbox.swiss/blog/best-of-both-worlds-using-a-secure-chip-with-open-source-firmware/

One thing I have noticed when doing this type research in the past is I don't like any company that forces the use of javascript on their site yet pro-ports to sell you a security device for your life savings.

I am not going to claim to have understood that... but at least there's some information that I might want to look at more closely - even though it is another brand.. and a bit of a promotional piece. for BitBox02.. and I haver heard some good things about that HW wallet, too.