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We can all be 10,000 if we just dump enough.
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Bitcoin is making the U.S government and many others look like assholes, especially bankers, just because it uses actual mathematics to dictate it's money supply rather than someone at a desk throwing a few extra billion at their friends.
... and how were they not already AH's? Bitcoin is the bad guy for holding up the mirror? |
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Free market trumps all, central banks, massively over-extended govts and their mega-bank co-conspirators are about to be treated to the harshest of lessons from the highly-suspect attempted central planning of the economies of the world. A lesson from recent history taught by none less than the worst failures of communism.
The monetary systems are broken, the major banks are technically bust and the sovereign debt loads are maxxed to the point where the entire productive GDP of the world is simply being sucked up by the interest on existing debt and stagnating in pools of a select few uber-wealthy entities who simply haven't the intellectual or informational capacity to allocate effectively the capital resources they now control ... the death spiral of a moribund centrally planned economy is already well advanced.
Enter Bitcoin and crypto currencies. Free market will choose the best money available, that money will be fully fungible, any VC/opportunists betting against that outcome and plumping in with more-of-the-same broken electronic monetary systems will inevitably be losers, morally, technically and financially. In the fires of economic collapse are where bitcoin's properties will be forged, not some grimy, grey hearing room full of parasitical regulatory industry posers.
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Does anyone have an opinion on side chains?
where there is a will there is a way. |
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this thread should be renamed...  Has a snappy ring to it? more like this Surely we are tracking and discussing? Thread Observer - Tracking and discussion OF the Bitcoin price movement tracking & discussionbut I like the formatting reference to JuanJayGee  but it seem that we tracking the discussion itself than the price movement The inevitable dead-fall of metaphysics. Once you fall into this pit there is no way neither out nor further away. You can't stop being a meta and you have nothing more to be meta about. The floor falls out before you understand it's structure and how it held you up all this time. It stops doing it's thing which it always did on it's own without understanding itself or being understandable by others. Precisely. The WallObserver thread is de-bootstrapping. It has become over-run with paid trolls and subtle FUDsters and gone beyond it's purpose. It is a logical conclusion of a now pointless discussion. The psychological trigger of 10k is a symptom, not the cause. |
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Soooo, I'm thinking of posting a bounty for the 20 posts that are successful at landing on page 10,000 ... just to keep it interesting.
Say, 50,000 bits for every one of the 20 post that lands on page 10k?
You realise we've been on page 10K about 50 times over the last 24 hours? But a great idea...we definitely need further incentive for post-dumping and page manipulation. yes, it would have to be the "final" 20 posts, like say in 1 years time when the evidence is hard and fast in the page-thread blockchain, 12 months of confirms without any changes ... |
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Soooo, I'm thinking of posting a bounty for the 20 posts that are successful at landing on page 10,000 ... just to keep it interesting.
Say, 50,000 bits for every one of the 20 post that lands on page 10k?
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Basically WallObserver is just an elaborate Ponzi scheme that clearly is on the cusp of collapsing because no new posters are posting and the old ones are taking out there gains faster than the new ponzi-victims are posting.
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Does anyone care that we have climbed $20 thus far today?
We have an obvious negative correlation, every time Wall Observer dumps posts bitcoin consolidates or rallies ... ... keep those post dump coming guys!! |
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Time for another major dumping round ... posts that is.
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Thoughts can be evil, they should ban all thinking.
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It would be great if they sold all at once because we are not gong anywhere... it will only bring more money in in a frenzy to buy the bottom. Sadly they wouldn't do this.. they would rather sell slowly and keep the market from rising similar to gold... however once they are done.. buying pressure will take them over and we will rise regardless of their efforts.. actually its good they sell now and not later when btc is $10k
What happened when US ran out of gold? Yes: they wage war and take it from Saddam, Gadhaffi, Ukraine and everywhere else there is some. Maybe we don't want those crazies with big guns run out of bitcoins? Loading tonnes and tonnes of gold onto cargo planes in the middle of the night headed straight to America. In retrospect, it seems sort of... unseemly? unseemly? surely you know the US is an extraordinary nation. Hence, they don't have to play by the rules. They have extraordinary privileges given by god. Since printing USD doesn't work so well any more, clearly they are entitled to taking other peoples gold. What I don't understand, though: since they're gods nation, why don't they just take the vast quantities of gold from the Vatican? What's the (unofficial) estimate for Vatican's gold reserves? Does anyone have an order of magnitude estimate for this? ~ 5k tonnes |
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BTW, difficulty trends suggest we are close to or at the average cost of production for bitcoin. The price has found (is finding) it's floor.
Once that process is complete, the herd will again begin to attach the monetary premium to the bitcoin good, safe with the base knowledge that it has a non-zero lower bound on price, i.e. utility and cost of production value.
However, there is no feedback from the cost of production (or whatever the network is doing) to the price. The dependency goes only the other way: difficulty gets adjusted until the total cost of the network (say, per day) is a little below the block reward (per day) times the market price. If the price goes up, or down, the hashrate will eventually follow, with a delay. If accidents were to destroy half of the hashpower, the price would hardly be affeected. Yes, but you are still wrong. There is no direct feedback but because the time constants for the two interacting systems are so different then there is an effective floor. If accidents were to destroy half the hashpower the price would be immediately unaffected but if it were to drop down slowly over time it would not go much below the new cost of production. Because at that point it is cheaper for miners to buy on the market, e.g. to fulfill forward sales contracts, than to keep expending resources. The effective downside of bitcoin is therefore the cost of production, currently around $320-350, and rising for the last 5 years. The monetary premium above the cost of production placed on the bitcoin good has as much upside as people will have confidence to place value in any useful monetary system. Currently that global total is somewhere above $50 trillion. |
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BTW, difficulty trends suggest we are close to or at the average cost of production for bitcoin. The price has found (is finding) it's floor.
Once that process is complete, the herd will again begin to attach the monetary premium to the bitcoin good, safe with the base knowledge that it has a non-zero lower bound on price, i.e. utility and cost of production value.
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Well noted. I think the last time this happened proved to be a huge buy signal? (Actually some delay after the difficulty turns up again). |
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Fiat or no fiat, people are always the same. They always try to abuse things and have profit to the maximum. Just human nature, believing bitcoin is any different is insanity.
profit-seeking is what makes the world go around. The troubles are just about the means used. Fiat is by force = bad by definition. Until crypto is voluntary is a good starting point. Coercion and law is what gives fiat value. Maybe not moral, but surely gives more faith to average Joe than internet funny money like bitcoin scheme. 'cept they keep printing soooo much of the crap nobody wants it anymore, people are dumping it for houses, stocks, bonds, anything but fiat ... and the fiat they do have in the bank can now be confiscated at will. Bitcoin on the other hand is limited in supply and out of the govt's/banksters reach ... oh, and can be sent anywhere in the world for almost free. |
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... he's been a raving statist apologist for the worst of their crimes since he showed up in bitcoinosphere. He's wondering why bitcoin is starting to feel like paypal2.0 after advocating for his gravvy train govt. intervention paid him handsome dividends ... |
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in 2015, all holder of xrp will be required to submit a licence
... along with fingerprint, iris scan and DNA sample. |
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The article I cited does not mention corruption at all. It just describes the way asset forfeiture works in the US currently. It's not corruption if it's not illegal, right? Wink
No. I think the phrase is Banana Republic. |
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