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The Bitcoin Thread (price and other bitcoin related topics) - Printable Version

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RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-07-2020

Here's a link to another bullish article that is suggesting $15.8k by or before the May 2020 halvening:

https://cryptonewsking.com/2020/02/06/why-this-top-analyst-says-bitcoin-may-hit-15800-before-2020-halving/

[Image: 0s4YFPf.png]
Twitter: https://twitter.com/CryptoNewsKing/status/1225591365419126784


Personally I believe that anything close to $15.8k would be a bit too bullish before the halvening, and I would consider $12k to $13k to be more reasonable, but we also know that frequently bitcoin does not play out in reasonable ways once momentum gets going, it can become a bit out of control, so yeah $15.8k could be possible, but then so could a surge up to $17.5k and then a retrace back down to $11k or $12k... all before the May halvening.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-07-2020

Here's an interesting, yet somewhat technical announcement:

https://bitcoinops.org/en/newsletters/2020/02/05/

Introduction Summary Quote:

>>>>>>
This week’s newsletter announces the release of Eclair 0.3.3, requests help testing a Bitcoin Core maintenance release, links to a new tool for experimenting with taproot and tapscript, summarizes discussion about safely generating schnorr signatures with precomputed public keys, and describes a proposal for interactive construction of LN funding transactions. Also included is our regular section about notable changes to popular Bitcoin infrastructure projects.
<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - Nolimitz - 02-08-2020

My belief is that the coronavirus situation is highly correlated with BTC price action.

If that's true....then bitcoin has proven a critical use case....safe haven asset.

IMO $10k+ is coming....perhaps we'll see a pullback within the next couple weeks.

I also read something about a bitcoin auction that will occur in the middle of February, that could also be a price catalyst.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-09-2020

Here's a nice new gauge to watch.

https://bitcointalk.org/index.php?action=profile;u=343934

[Image: EQSS147W4AElpAD?format=png&name=small]

Quote>>>>>
shows how many days did close higher than the current price. When it comes to zero it means we have new ATH.<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - ChicagoFire - 02-09-2020

https://www.zerohedge.com/crypto/bitcoin-tops-10000-coinbase-pushes-digital-gold-narrative


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-10-2020

Here's cointelegraph article that just came out describing a January 29 report from Vaneck that gives a large number of reasons why institutional investors should have some stake in bitcoin.

https://cointelegraph.com/news/vaneck-report-illustrates-why-institutions-should-hold-bitcoin


[Image: ed47bfee8900b703ae73911466d71f0d.png]


RE: The Bitcoin Thread (price and other bitcoin related topics) - Nolimitz - 02-14-2020

https://www.youtube.com/watch?v=zLmlrudX0l8

Another video from Bob Loukas. Worth watching for anyone allocating a portion of their portfolio in BTC.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-15-2020

(02-14-2020, 10:22 PM)Nolimitz Wrote: https://www.youtube.com/watch?v=zLmlrudX0l8

Another video from Bob Loukas. Worth watching for anyone allocating a portion of their portfolio in BTC.

Yep... its like a short 35-minute update or checking-in to say that it seems that we are on schedule or may be even a bit ahead of schedule within a 4 year fractal pattern that expects the BTC price to be going up in the coming 1-2 years.

I hate to give away too much OPsec about the guy, but sometimes it can be helpful to go over some actual numbers, and surely every guy has to tailor his own BTC investing approach in accordance with his own financial circumstances.

I think that Loukas is saying that his average cost per BTC is around $3k and that he has around 30 BTC (which would would be a $90k investment), and he is recommending that mature investors, place about 5% of their total investment portfolio into BTC, and if he is following his own recommendation, his total investment portfolio would be around $1.8 million.  Maybe it is true maybe it is not, I am just going through the applicability of some of his points.

He said that it is good for folks to have a plan, especially, if BTC goes on some kind of crazy run, and he said that if BTC goes up to $28,500, then he would be cashing out about 5BTC (which would amount to approximately the dollar value of his investment amount), and then the remainder of his investment would be largely house money.    He said that he would cash out about another 5 BTC if BTC were to reach $56-$57k, and so his main point would be that BTC investors have a plan.  He said that he is NOT recommending trading or anything like that, but if BTC prices were to suddenly drop by 30% or so after his cashing out, he might use a portion of that money to buy back.. 

Again, all of this is to demonstrate that it is good for each person to have a plan, rather than quibbling about specifics of the plan... because the plan is going to be somewhat tailored to each person, and I cannot really argue with those ideas about having a plan.

He had stated that he has subscribed to the philosophy of investing no more than you would be willing to lose, which is a solid investment principle with any volatile asset, and I personally have toyed with the idea about whether it is a good idea to take out principle out of bitcoin (such as what Loukas is planning to do at $28,500), and to each their own, including considering timeline, risk tolerance, view of BTC as compared with other assets.  But, yeah, let's say that he is cashing out around in 15% of his BTC holdings after his portfolio has done nearly a 10x, you cannot really criticize him for being too timid, and he would still have about 85% of the size of the original BTC amount.  Again if he cashed out around another 20% of the assets after a 2x price increase (which is 20x from the original purchase prices), cannot really be criticized greatly as an idea, but maybe just tweaked a bit based on personal specifics and preferences.  Each of those cashing outs will surely trigger decent sized capital gains taxes (in the USA), and I am not sure if Loukas is in a different jurisdiction, which would change the tax implications.


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-18-2020

Here's a pretty little Mayer Multiple graph to remind us about where we are at, currently.

https://twitter.com/ChartsBtc/status/1229433267524259840

[Image: EQ_TCkIU8AAGjDd?format=png&name=small]

Also, you can find a live shot of the mayer multiple on this below linked site:

https://mayermultiple.info/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-19-2020

This cointelegraph article seems a bit too optimistic about getting to $26k by the halvening in May, but why would I care if it is too optimistic, potentially?


https://cointelegraph.com/news/bitcoin-price-golden-cross-hints-at-170-rally-to-26k-by-halving/amp


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-19-2020

This Aaron van Wirdum article from today shows that bitcoin just continues to plug away with ongoing awareness, even though it takes a decent amount of time for innovative technologies to be adopted in the Open source community, especially as led by bitcoin.

https://bitcoinmagazine.com/articles/how-bitcoin-optech-is-connecting-the-open-source-and-corporate-worlds


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-19-2020

Here's a nice article from a couple of days ago regarding three characteristics needed by a "true" bitcoiner... 


 https://medium.com/in-bitcoin-we-trust/being-a-true-bitcoiner-requires-3-essential-qualities-d3a4c924fc15


>>>>>>
1. Humility

The road to becoming a true Bitcoiner always starts with a good dose of humility. You must be able to challenge yourself by accepting to discover something other than the monetary and financial system you have always known.

2. Perseverance

Bitcoin is a revolution that has been building block after block for over 11 years now. During this first decade of its existence, Bitcoin has seen its price rise very sharply.


3. Patience 

True Bitcoiners understand the virtues of patience and understand very well that Bitcoin requires this fundamental quality.
<<<<<<<<<<<<<<<<<<<<<<


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-19-2020

Here's a pretty lengthy article from yesterday that describes some techniques for attempting to incorporate bitcoin investing into retirement plans


https://medium.com/@hhua/bitcoin-retirement-series-part-1-bitcoin-investing-in-retirement-plans-us-version-2d65c5fffe31


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-20-2020

Holy fucking shit.

Here is an article that describes that a government agency in Ireland (CAB / Criminal Assets Bureau) has seized 6,000 BTC, and put them in a seized state for 7 years... 

7 years.... wow...   a forced HODL... 


https://www.rte.ie/news/courts/2020/0219/1116299-bit-coin-clifton-collins/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-20-2020

Even though a lot of bitcoiners are not too excited about some of the behaviors of coinbase, it is continuing to come out with products to spend your bitcoins, which is an announcement of the launching of a Visa card in the UK .... so surely have to be careful regarding the possible tax implications of some of the spending.. though I am NOT sure if it can be issued to USA citizens/residents ... (still seems to be early stages on such a product, but could plow the way to make payments more easily accomplished, and perhaps incentivize more friendly legislation to allow spending without so many current tax implication accounting issues in the USA) .

https://www.coindesk.com/coinbase-becomes-first-pure-crypto-firm-approved-as-visa-principal-member

https://blog.coinbase.com/coinbase-becomes-a-visa-principal-member-c5b73b883787


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-20-2020

Nice to have this little update to project the quantity of bitcoin it takes to become elite in terms of bitcoin... apparently only .28BTC will do allow you to enter into such "elitist" club.

https://bitcoinist.com/0-28-btc-among-richest-1-bitcoin-world/

Quote:

>>>>>Just when you were lamenting not buying more bitcoin before the price spiked, Jake Levison made your day. According to the BlockWorks Group analyst, you only need 0.28 BTC to be in the top 1% richest of the world (in BTC terms).<<<<<

A lesson might be to get in while prices are still cheap... NOT that I am trying to coerce anyone.... .. but you might end up thanking me later..,. Perhaps?


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-21-2020

(02-04-2020, 03:28 AM)JayJuanGee Wrote: Here's an article that announces a US marshall's auction of 4,040.54069820 bitcoins - divided into 26 lots that is taking pace on the 18th... The lots are more detailledly specified in the below chart.

Will be interesting to see how that auction goes.  Likely will not have any affect on BTC prices, just an interesting happening.

https://www.coindesk.com/us-marshals-will-auction-40m-in-bitcoin-this-month


[Image: US-Marshals-Feb-18-Auction-545x293.png]


Looks like the US Marshall auction is over, and it appears that the vast majority of auctioned coins went to one bidder (all except one lot).

https://old.reddit.com/r/Bitcoin/comments/f6s07m/lone_bidder_purchased_3991_of_the_4041_btc/


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-22-2020

(02-20-2020, 06:20 AM)JayJuanGee Wrote: Holy fucking shit.

Here is an article that describes that a government agency in Ireland (CAB / Criminal Assets Bureau) has seized 6,000 BTC, and put them in a seized state for 7 years... 

7 years.... wow...   a forced HODL... 


https://www.rte.ie/news/courts/2020/0219/1116299-bit-coin-clifton-collins/

Here's a follow up article that asserts that neither CAB nor the criminal suspect have access to the keys to the 6,000 BTC that the criminal suspect had in his possession at one time.

https://www.irishtimes.com/news/crime-and-law/drug-dealer-loses-codes-for-53-6m-bitcoin-accounts-1.4180182?mode=amp&fbclid=IwAR3CeKnCMeqoBWqeBF6ATh3sFygOAnIgjKp6fM2-WzWzn_XhR7eslOGJmwU


RE: The Bitcoin Thread (price and other bitcoin related topics) - JayJuanGee - 02-25-2020

Here's an interesting article from a few days ago describing bitcoin's so far volume weighted average price for 2020 as being the highest of any calendar year.

https://cointelegraph.com/news/bitcoin-price-bullrun-may-last-1000-days-as-2020-now-best-average-year




[Image: aa4519e155435baaf83fc73c97f7f528.png]


RE: The Bitcoin Thread (price and other bitcoin related topics) - Rottenapple - 02-25-2020

Wonder what Corona might do with the Bitcoin price? Will it go down as the stockmarket or the opposite.