Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
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You are interpreting my funzie comment using logic. I'm going to be a party poop and say that, when it comes to Bitcoin, I don't really believe anything other than "given sufficient time, it's going up," which is really a paraphrase of Saylor's "it's going up forever, Laura!" In that sense, betting on a specific date for the price to exceed a specific value doesn't make much sense to me.I can understand your 60/40 choice, given the long sideways streaks we've been observing lately. But the bull in me wants it to be higher. Like 100/0, LOL!
I felt obligated to take the other side of that bet, especially given the odds. I couldn't help my lil selfie.
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The only reason I got a bank account was to park the $2M+ I bought to buy my lake and land. Before that, I was bank-free.
Cash and Bitcoin are both anonymous (or at least pseudonymous). I've never had to produce photo ID to receive or spend cash nor pay any fees. I've never had cash put on hold for 5 business days. Transactions are time-limited only by the counting process.
Bitcoin can take a little longer but but only because most OTC and UTC exchanges depend on banks for fiat liquidity. Also exchanges require payment for their services. Luckily their fees can be fairly small if you establish good relationships with them.
Ultimately, cash is still king. There are no records of who, when, where, why, or how much.
Edit: Oops, I see JJG already touched on this as a reason to avoid banks.
It is difficult to live these days without banks and/or credit cards. Also exchanging bitcoin when you are traveling can be difficult and it can also be difficult to find local trading partners, and so many folks will go through exchanges rather than transacting directly. In the real world, from time to time, I do ask if I can buy a good or service in bitcoin (especially when I am traveling to differing places), and it is pretty rare that I find a cooperating counter-party.
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Yet another reason to never keep money in a bank unless absolutely necessary. For fiat currencies cash is king. For long term storage of wealth, Bitcoin.\The only reason I got a bank account was to park the $2M+ I bought to buy my lake and land. Before that, I was bank-free.
Cash and Bitcoin are both anonymous (or at least pseudonymous). I've never had to produce photo ID to receive or spend cash nor pay any fees. I've never had cash put on hold for 5 business days. Transactions are time-limited only by the counting process.
Bitcoin can take a little longer but but only because most OTC and UTC exchanges depend on banks for fiat liquidity. Also exchanges require payment for their services. Luckily their fees can be fairly small if you establish good relationships with them.
Ultimately, cash is still king. There are no records of who, when, where, why, or how much.
Edit: Oops, I see JJG already touched on this as a reason to avoid banks.
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Exactly. Denying bank services completely is an extreme choice that will most certainly make one's life difficult. Having a bank account and a debit/credit card makes perfect sense for small amounts of fiat. Salaries don't get paid in Bitcoin, and 99% of shops don't accept Bitcoin. And, no, I don't much care about some database keeping logs of my supermarket purchases. Living Bitcoin-only is still impractical, unfortunately.
When in Rome, do as Romans do. But do it smartly.
Probably many of us need to try to increase our use of cash in order to attempt to preserve our ability to use cash in the future. For sure, there are going to be ongoing challenges in regards to attacks on cash.. which are easier to perform if so many folks are not using cash. I remember during Covid, the attack got even worse in terms of some places refusing to deal in cash.. and then when that happens, some of those non-cash changes stay in place.. which likely results in injustices to many of us to not even have the option within some kinds of transaction types.
Of course, bitcoin would be good as a substitute for cash, but it probably should not be considered as a total replacement of our abilities to be able to transact in physical cash.
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he is right the 4 year cycle is deadhe likely found that out reading the wo and copying me
I seem to recall the death of the 4-year cycle, every 4 -year cycle, so far.. ,and so I am not convinced of its death until such death were to actually end up happening.
These influencers are paid handsomely by Theymos for staying active in the forum and bringing more important persons into the forum, too. Although Theymos would not want to make it open to the forum, who these members are. [REDACTED] might be one of them, another member I think, is an influencer in the forum, is JayJuanGee. His knowledge of Bitcoin is beyond comprehension. There could be more of them, but whatever, only Theymos knows, as you rightly said.
HEY JJG!
yer FaMoUs!
I will have to take a look at that thread. It seems that the "influencer" description is being misapplied.. yet I might have to learn what is an influencer.... even if I would initially deny being an influencer on my first impression of the idea. .
I had thought that influencer would be more fitting for a person pumping shitcoins.. yet I can see that the concept of influencer could potentially be understood in tae bitcoin context for folks who might have business interests in bitcoin, but then they would be pumping their interests rather than bitcoin, even though some bitcoin businesses seem to try to set up their businesses to align with bitcoin's success.
Also it is frequently asserted that bitcoin does not have a marketing team, or at least the marketing team is voluntary and largely unpaid, even though some of us bitcoin holders might consider that we might be indirectly advantaged in our bitcoin investment by greater adoption of bitcoin and greater understanding (and awareness) of bitcoin... I will have to think about it and look at that thread to see what is being said about the influencer ideas.
@proudhon detected
After realizing that his speculations were obviously completely wrong, the last time he was seen in public he left in an unknown direction in a red car. Have a safe journey and green pastures
I use a mathematically and scientifically proven comprehensive technical analysis of bitcoin's price to arrive at my conclusions, and it is unequivocally clear that the underlying fundamentals point to a continuing collapse, especially in light of the macro environment. But setting that aside, the exponential history of the price, as measured by the differential dy/dx = ky^2, combined with its high volatility, alone suggests a very high risk of a terminal trajectory. This is further compounded by its beta coefficient, which is indicative of its sensitivity to market changes (β = (σxy) / (σx * σy)). Finally, bitcoin's Sharpe ratio is in the red, plainly implying its risk-adjusted returns are negative (Sr = (μp - rf) / σp). All of this, and more, leads to an undeniable conclusion that bitcoin is collapsing, has failed, and will eventually go below $1,000, which is the price level at which the key indicators begin to normalize. Hope this helps.
Hopefully proudhon will come back to pay fillippone or maybe we will have to give him neutrals (if not negative) on his trust if he fails/refuses to follow through with his promise of a bitcoin gift to fillippone upon the meeting of certain BTC price conditions.
These influencers are paid handsomely by Theymos for staying active in the forum and bringing more important persons into the forum, too. Although Theymos would not want to make it open to the forum, who these members are. [REDACTED] might be one of them, another member I think, is an influencer in the forum, is JayJuanGee. His knowledge of Bitcoin is beyond comprehension. There could be more of them, but whatever, only Theymos knows, as you rightly said.
HEY JJG!
yer FaMoUs!
