The Bitcoin Thread (price and other bitcoin related topics)
Here's a link to a tweet of a nice looking chart for all the gold bugs who have been losing value to BTC and are likely going to continue to lose value to BTC.  Showing that with the passage of time bitcoin buys more and more gold or gold buys less and less bitcoin.  Go figure.  Who would have thunk?


https://twitter.com/100trillionUSD/statu...2912040960


[Image: EIrzfXCXUAAiRl2?format=jpg&name=small]
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(11-06-2019, 06:14 PM)JayJuanGee Wrote: Here's a link to a tweet of a nice looking chart for all the gold bugs who have been losing value to BTC and are likely going to continue to lose value to BTC.  Showing that with the passage of time bitcoin buys more and more gold or gold buys less and less bitcoin.  Go figure.  Who would have thunk?


https://twitter.com/100trillionUSD/statu...2912040960


[Image: EIrzfXCXUAAiRl2?format=jpg&name=small]

Gold is analog technology living in a digital world.
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To the extent that the "one trader causing the 2017 BTC rise theory" deserves any attention.  

Here's a link to a nice little rebuttal argument.

https://cointelegraph.com/news/3-reasons...ice-to-20k
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Interesting to see how much the Cash App has been growing in respect to the purchasing of bitcoin.

As many realize, cash app has so far remained bitcoin exclusive; they do not, so far, deal with any shitcoins.

https://twitter.com/matt_odell/status/11...8793895940

[Image: EIuQq4xXUAAC4kI?format=jpg&name=small]
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It's a bit hilarious regarding how so many bitcoin naysayers were suggesting, based on the first day or two of the launch of BAKKT, that no one was interested in bitcoin including the fact that BAKKT was a failure because it showed less than 100BTC being traded on a daily basis for several days in a row.

It kind of demonstrates the level of desperation of bitcoin naysayers (and bitcoin death proclaimers) who are constantly striving to jump to premature conclusions with whatever stupid-ass little data or speculation that they can get.

In the past nearly two weeks the trade volume (or contracts entered) have shot up about 3x to 5x from the trade volume of their first month.  There are likely a considerable amount of ramp-up costs with any new operation and for people to get used to both how they might use the product to their perceived needs and also just learning how it works and seeing it in action for a bit of time - including the fact that anyone opening contracts on BAKKT have to be prepared to settle in bitcoin at the time (on the day) that the contract is settled, as compared with CME that is settled in dollars.
 
https://twitter.com/BakktBot/status/1192082718655422464

[Image: EIsg6kxW4AAP-OC?format=jpg&name=small]
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(11-07-2019, 05:32 AM)JayJuanGee Wrote: Interesting to see how much the Cash App has been growing in respect to the purchasing of bitcoin.

As many realize, cash app has so far remained bitcoin exclusive; they do not, so far, deal with any shitcoins.

https://twitter.com/matt_odell/status/11...8793895940

[Image: EIuQq4xXUAAC4kI?format=jpg&name=small]
Jack has already stated that he only believes in bitcoin. Shitcoins are never getting added. He gets it.
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I understand that right now there are quite a few guys who become a bit frustrated with BTC's price not moving very much, and also generate concerns that BTC's price might go down before it goes up.

On the other hand, there are also times in which guys become so excited about BTC's price movement, while at the same time, considering their BTC cash out plan in an all or nothing kind of framework.

Frequently, I am one who considers that it is prudent to both create plans for the future, but also NOT to plan to  sell all of your BTC at certain price points, in the event that BTC reaches such price points.

These BTC price consolidation times should allow for considering ways to attempt to prepare yourself mentally and financially for future possible BTC price moves.

I did get a lot of credit for a post that I made on September 9 regarding attempting to create tools for yourself for the future, and possible upwards exponential price growth in BTC, which largely involves both an attempt to incorporate incrementalism thinking and also advocating for BTC HODLers to tailor, tweak and optimize their BTC plans to their own situations and risk tolerances, while at the same time asserting that NO BTC HODLer should plan ahead to become a no coiner, even  if BTC's prices were to go up to $50k, $100k, $500k, or some other high amount per coin.

Here's the link to my September 9 post, (full text of that post is below) and of course, some of the context is already revealed within the post, even while I did make some follow-up discussions within that thread about such post, too.


Bitcointalk-JayJuanGee Wrote:Bitcointalk-JayJuanGee Link

Bitcointalk-mindrust Wrote:Bitcointalk-mindrust Link
Haven't really made my mind about it but for now I am planning to dump %15-20 of my stash for every $10k increment starting from $50k and make the final blow at $100k.


I think that you are: 1) valuing your wealth too much in dollars, 2) attempting to time the BTC price movement too much, which is a) failing to account for the possibility of BTC prices going above $100k and b) not going to be able to profit if BTC prices go above $100k.  Furthermore, if you establish a more sound plan, you will both be able to support the bitcoin infrastructure more and possibly even personally profit more, too.  

O.k.  I do not mean this as any kind of hostile message.  Instead, I intend to be a friendly collaborator to outline a possible better approach and way of thinking about cashing out during such uncertain BTC price dynamic times.

Accordingly, I suggest that you tweak your plan a little bit in order that you are not engaging in as much all or nothing kind of thinking and you strive to always keep some stash in bitcoin.  Of course, do whatever the fuck you like, it is your life... hahahhahahaha  This is not financial advice...hahahahahaha... even though it is.   Wink

Anyhow, instead of calculating dumping 15% to 20% of your stash from the amount of your original stash amount, calculate 15% to 25% from your stash balance as it evolves.  This is not going to cause a whole lot of difference in the amount that you cash out, but it will allow you to meaningfully stay in bitcoin in a variety of circumstances and thus to sufficiently hedge yourself.   Of course, you can tweak the numbers that I have outlined.

In other words, if you sell between 15% to 25% (which  I am going to readjust to 20% for calculation purposes) from the readjusted balance of your stash, you will never run out of bitcoin.  

Also, you are using $10k price increments which has the problem of 1) round numbers and 2) the problem of an amount that is set in terms of dollars which causes a lowering of the percentage each time you execute, so instead of calculating exact dollar increments, maybe you should start out selling BTC at around $47.5k (just in case BTC prices never [size=undefined](or take a long time)[/size] end up breaking above $50k), and then use something like 20% increments.  I got this 20% based on your $10k/$50k which is more or less 20% (of course, you can make the percentage lower or higher after you play around with it).

So I am giving a ballpark in which your sell ladder would look something like this:

[NOTE:  I could not figure how to format this table, here.  Thus, the table is much more legible at the bitcointalk link].


[table][tr][td]Sell Price BTC balance    BTCSell Amt  Pfolio$Value soldValue soldTotal
$47,478.00 7.00000000 0.00000000 $332,346.00 $0.00         $0.00
$47,478.00 7.00000000 1.40000000 $332,346.00 $66,469.20 $66,469.20
$56,973.60 5.60000000 1.12000000 $319,052.16 $63,810.43 $130,279.63
$68,368.32 4.48000000 0.89600000 $306,290.07 $61,258.01 $191,537.65
$82,041.98 3.58400000 0.71680000 $294,038.47 $58,807.69 $250,345.34
$98,450.38 2.86720000 0.57344000 $282,276.93 $56,455.39 $306,800.73
$118,140.46 2.29376000 0.45875200 $270,985.85 $54,197.17 $360,997.90
$141,768.55 1.83500800 0.36700160 $260,146.42 $52,029.28 $413,027.18
$170,122.26 1.46800640 0.29360128 $249,740.56 $49,948.11 $462,975.29
$204,146.71 1.17440512 0.23488102 $239,750.94 $47,950.19 $510,925.48
$244,976.05 0.93952410 0.18790482 $230,160.90 $46,032.18 $556,957.66
$293,971.26 0.75161928 0.15032386 $220,954.47 $44,190.89 $601,148.56
$352,765.51 0.60129542 0.12025908 $212,116.29 $42,423.26 $643,571.81
$423,318.62 0.48103634 0.09620727 $203,631.64 $40,726.33 $684,298.14
$507,982.34 0.38482907 0.07696581 $195,486.37 $39,097.27 $723,395.42
$609,578.81 0.30786326 0.06157265 $187,666.92 $37,533.38 $760,928.80[/table]


As you can see from the chart, you would start out at some number, such as $47,478 and you would have a certain number of BTC that for this example I hypothesize to be 7BTC.   You would sell in 20% price increments 20% of the value of your then holdings.  In this hypothetical the dollar value of your BTC holdings goes down, but it does not go down to zero.  The BTC that you hold go down, too, but of course they are worth more at each upwards price interval.  You will see that over time, that you have an accumulated cashing out value that far exceeds your earlier HOLDing value, especially once the BTC price gets to $100k (assuming it does) but even moreso, if the BTC price were to get to 1/2 a $million... which surely might not happen, but surely it should not hurt too much to prepare for such possibility and even other possibilities that are far beyond our expectations (which we know sometimes happens in bitcoinlandia).

Of course, if you were to create a chart like this with the formulas already contained therein, then you can play around with the increments and the amounts in order to figure out more acceptable ways to achieve all of your goals (of course, provided that BTC's price cooperates).  In my thinking, it might be good to cash out an amount that also allows your BTC $ value to continue to go up no matter what, even if it is just a percentage or two of price appreciation.


Bitcointalk-mindrust Wrote:Bitcointalk-mindrust Link
Also I'll buy back every piece I dumped if the price goes $10k lower from where I sell the coins.

For example; 

Sold %20 @ $50k. Now there are 2  possibilities.

 A) the price goes down for $10k to $40k and I buy back and increase the btc amount,
 B) It goes higher and reaches $60k. Then I'll domp et again another %16-17.

If A) happens in the first round  > back to hodling
If B) happens > again another 2 possibilities A) and B) but this time it's happening @ $60k.

Will probably play that game to maximize the profits till it reaches $100k. Not really decided on anything just thinking. I may completely ignore the "buy back" part too.

Your buy back part sounds reasonable; however, since you seem a little nervous about buying back, based on your last sentence, then maybe you should consider setting your buy back numbers to be quite extremely low, and if the BTC price never goes to such extremely low amounts, then you do not care, you just end up spending the fiat.  And, of course, if the price ends up going to your buy back numbers, then you are happy about that, too because you got a decent bargain in your buy back amount without even having to inject new fiat into your system.
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In bitcoinlandia, we should feel so small and insignificant.  Blush    Cry  


https://twitter.com/Rhythmtrader/status/...3460642816

As Rhythmtrader asserts:

>>>>>>It took a decade for bitcoin to grow to $166 billion.

It took a single month for the Fed to print $163 billion.
<<<<<<<
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Here's an interesting poll that was conducted by former US Congressman Ron Paul that shows that 59% of people would chose bitcoin to store their value (for a $10k gift, if they were forced to have to store such gift for 10 years).  Not sure about how accurate are Ron Paul's survey methodologies, but still showing an interesting result.


https://twitter.com/RonPaul/status/11913...de-eeuu%2F
 

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FI9ZlzsW.p...loC_X7oJVw]
Above chart gotten from Luckmcfly

Here's another article on the survey topic showing very similar results from a few days ago, too.  
https://cointelegraph.com/news/ron-paul-...investment
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(11-08-2019, 05:35 AM)JayJuanGee Wrote: Here's an interesting poll that was conducted by former US Congressman Ron Paul that shows that 59% of people would chose bitcoin to store their value (for a $10k gift, if they were forced to have to store such gift for 10 years).  Not sure about how accurate are Ron Paul's survey methodologies, but still showing an interesting result.


https://twitter.com/RonPaul/status/11913...de-eeuu%2F
 

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FI9ZlzsW.p...loC_X7oJVw]
Above chart gotten from Luckmcfly

Here's another article on the survey topic showing very similar results from a few days ago, too.  
https://cointelegraph.com/news/ron-paul-...investment

I was happy when I saw the results of that poll. The future is now.
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(11-08-2019, 07:09 AM)Swordfish1010 Wrote:
(11-08-2019, 05:35 AM)JayJuanGee Wrote: Here's an interesting poll that was conducted by former US Congressman Ron Paul that shows that 59% of people would chose bitcoin to store their value (for a $10k gift, if they were forced to have to store such gift for 10 years).  Not sure about how accurate are Ron Paul's survey methodologies, but still showing an interesting result.


https://twitter.com/RonPaul/status/11913...de-eeuu%2F
 

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FI9ZlzsW.p...loC_X7oJVw]
Above chart gotten from Luckmcfly

Here's another article on the survey topic showing very similar results from a few days ago, too.  
https://cointelegraph.com/news/ron-paul-...investment

I was happy when I saw the results of that poll. The future is now.

The building of Schelling points likely involves the implantation of such ideas (in this case, the value of bitcoin) into the consciousness of the masses.
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My penchant for pretty charts demonstrated below:


https://twitter.com/ChartsBtc/status/119...3529082880

[Image: EIns6HrUwAA4shT?format=jpg&name=small]

Beautiful, no?
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Interesting to see that number of jobs in crypto are very much outpacing number of persons seeking jobs in crypto.


https://www.beseen.com/blog/talent/bitco...19-beyond/

[Image: top-15-crypto-companies-on-indeed-actual...is-one.png]

https://cointelegraph.com/news/searches-...019-indeed


[Image: 46cdcd5b3f0c4878f37bac0a7c1afe80.png]
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Someone want to write a data sheet on crypto jobs?
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(11-08-2019, 10:29 PM)churros Wrote: Someone want to write a data sheet on crypto jobs?

Could be that the better guys to write such data sheets would be guys who are either in the middle of looking for a crypto job, has looked for a crypto job or is preparing to look for a crypto job.  Surely, not this cat.  I don't plan on working anymore, except if it is something that I want to do.  

I would imagine that there are quite a few self-starters in the crypto space too.  

Some guys might go to crypto conferences and then end up getting involved in various projects, whether scams or altcoins or ICOs.  Surely a decent number of jobs in the crypto space have a marketing budget because they are kinds of scams, and bitcoin would not have as many of those kinds of budgets, even though there are likely some bitcoin specific companies that could involve some marketing, too.  

Maybe another guy can chime in with some better thoughts and experiences in either crypto job searches or opportunities that he might see out there?   Are you considering anything like that churros?  Of course, this is the bitcoin thread, so I would not be very much interested in getting off topic too much into NON bitcoin topics, so I could imagine that some guys might not be selective regarding what kind of projects that they involve themselves, and personally, I would not be interested as much in that approach or having such an approach posted in this thread.
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Tweet 1)  

https://twitter.com/CryptoBull/status/11...7731989505

[Image: EI3ggqbXYAYLs-y?format=jpg&name=4096x4096]

Many people in the bitcoin community know Peter Schiff as a persistent gold bug.

Funny how much hopium is built into such a guy that has been pumping his "bitcoin is going to zero" nonsense since before I had even gotten into bitcoin.  He does say that he gets a decent amount of attention for his gold pumpening interactions with the bitcoin community.

Another funny thing is that he frequently says that he should have gotten into bitcoin at $10, when he first heard about it, while following up by saying that "now it is too late" blah blah blah.  He has been saying that a lot, and for some reason he seems to continue to fail/refuse to recognize the irony of such an ongoingly dumb statement.



Tweet 2)  
Here's a nice supplementary chart that shows BTC price compared with Gold price.

Whoaza!!!! A guy might speculate that the level of performance of bitcoin, as compared with gold, should shut up any gold bug, but instead it seems to fuel them into some kind of locked position (or doubling down) to keep asserting that the crash (referring to BTC) is coming sooner or later  (refer to the ongoing statement that "it's a bubble" meme below):

https://twitter.com/MrsFulcrum/status/11...14720?s=20

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FvyUlll2.p...HzNN1t0Cxg]


[Image: c0a.png]
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Since I continue to love the visuals.

Even though the alignment is a bit off, below is a nice one.

https://twitter.com/CryptoBull/status/11...67362?s=20

[Image: ?u=https%3A%2F%2Fi.imgur.com%2FffNcvop.p...nckaYBeSSg]
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Lots going on to attempt to monitor BTC sentiment and various fundamentals with this webpage

https://thetie.io/coin-detail/BTC.X



Here's a snapshot from yesterday.

[Image: ?u=https%3A%2F%2Fi.imgur.com%2F7Oz85UR.p...YCWsr6LPCw]
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Here's a nice little article from today linked below describing some ongoing lightning network development that involves using lightning network to send private messages that pretty much cannot be stopped.  Of course, using lightning network involves fees too, but currently the fees are much lower than on bitcoin's main chain, and of course, if you are already feeling that you have abilities to say whatever the fuck you want, then you might not want to pay for something that you can get for free..   On the other hand, one of the greatnesses of this world remains that there are all kinds of people in it, and even though we might not have certain issues in the first world, sometimes there are needs and use cases in other parts of the world that causes systems like this to become much more valuable than they otherwise might seem to be on the face.  

Furthermore, sometimes, one way to keep regular systems honest and open is to have competition, which messaging on lightning network could serve as such complementary system that helps to keep mainstream systems more honest.

How Bitcoin’s Lightning Can Be Used for Private Messaging
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50 second video clip, and in the end of the clip, Steven Colbert gets a little dig in about bitcoin, namely trying to suggest that those of us who know about bitcoin are socially burdensome.

https://twitter.com/WhiteRabbitBTC/statu...1581246464

hahahahahahaha

Not going to be so socially burdensome when no coiners might be changing their tunes in the coming years and wanting to hang out with us on our yachts and with our hookers, lambos and blow.  I don't really mean the hookers part because I don't pay, but it is just an expression.


Wink
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