Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[billyjoeallen]

That's 2$, Adam. Double or nothing again?

as in life it always pays to play these games, sometimes you score somthing priceless.

Is that a yes?  You know, as soon as you stop betting, it will probably skyrocket.

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[JimboToronto]

i'm fairly certain i will lose the bet and THEN price will go above 410 

Pretty sneaky aren't you?

$2 is quite cheap to raise the price by $4. Depending on how many coins you have in cold storage, that's a very good return.

 

[adamstgBit]

That's 2$, Adam. Double or nothing again?

hmmm

i can pay out now

and you can accept this bet, if you want.

$4 say price is >412.5 by morning

either way pm me your payment address 

[marcus_of_augustus]

That's 2$, Adam. Double or nothing again?

as in life it always pays to play these games, sometimes you score somthing priceless.

martingales are fun ... until you break the global monetary system

[billyjoeallen]

It's going back up! Come on, Adam. It's only four bucks.

[adamstgBit]

That's 2$, Adam. Double or nothing again?

as in life it always pays to play these games, sometimes you score somthing priceless.

martingales are fun ... until you break the global monetary system

global monetary system is known to be broken, isnt it? isn't that what 2008 was about? i'm afraid I understand bitcoin better then i understand global monetary policy, so i'm not sure if what you sugest is ture or not... 

[adamstgBit]

[JayJuanGee]

i'll bet 1$ on >410 in <1hour

You're on. No need for escrow. I trust you.

woot!

ok,  if price hits >410 within 50mins you pay me 1$ if not i pay you 1$, bitstamps price.

I was gonna say BFX, but Stamp works for me. Tic, tic, tic...

~20 mins left and i still need to see 1/2 1/4 million dollars get dumped on stamps.

double or nothing? for >410 in the next hour.

Done!

Hahahahahah...

I think that this should be a decent example that bets can be small and reasonable in order to show that they are really serious.. rather than betting some bullshit high amount that requires some trust.


As far as the bet itself, this may be one way for BJA to make some real money on his bitcoin bets... just keep doubling down, and possibly BJA will become rich.. when he stops at $1024, and requests that Adam pay up... hahahahahaha   

what you don't believe in miracles?

I believe in the reverse Adam indicator...   which is one of the most reliable bitcoin price prediction tools on this here planet.         

That is only true Short term and in during a bear market...
I invite you to look back at bitmovements, with so much hindsight you now possess, my calls all sundly look pretty good.
and watch out bear market is DONE KaPoooUT! over.
reverse indicator? i think not!
https://www.youtube.com/watch?v=D2n5d2OTXsc
hahahaha we'll see.

hahahahahaha...

My level of exaggeration, regarding "the most reliable bitcoin price prediction tools on this here planet" is meant to be all in good fun.   

It's like guys in the locker room who sometimes will say the exact opposite to razz the other guy, and then after a while shorty is really the tall guy.. and whatever, the claim becomes an insider joke.

[billyjoeallen]

That's 2$, Adam. Double or nothing again?

as in life it always pays to play these games, sometimes you score somthing priceless.

martingales are fun ... until you break the global monetary system

global monetary system is known to be broken, isnt it? isn't that what 2008 was about? i'm afraid I understand bitcoin better then i understand global monetary policy, so i'm not sure if what you sugest is ture or not... 

The global monetary system is beautiful in it's insanity. It's based on debt as every unit is lent into existence. Every one of those units will need to be paid back with interest, so there is not enough money in the world to do it, so more and more coercive measures are needed to get people to borrow.  IF credit stops expanding, the whole thing will collapse into a black hole.

Artificially low interest rates. money printing. Tax breaks for loans like mortgages. Government deficit spending.  New money is created to pay the interest on existing debt, but that new money is created as debt and also will be required to be paid back with interest. 

[adamstgBit]

so i'm off.

ill leave you all with this to ponder.

avg joe may or may not bitcoin, but not sure if that really matter to you or me or the next bitcoiner. i'm here to stay? how about you?

but what seem very unlikely is that our children will not use bitcoin, not saying thats all they will use,  they will use fiats ( my son pay for his toy with a 2$ canadian coin at  the dollor store the other day ), but crypto will be VERY appealing to them, because they have very big exception as to how efficient the world is & should be, and they won't stand for "old style wire transfer fees", they wont have a clue how to do that

they will know however how to buy a few grams of cocaine on SR so parents watch out, get on that child locked windows account.

lol

good night.

[JayJuanGee]

It's going back up! Come on, Adam. It's only four bucks.

I can see reluctance to continue to bet in 1 hour increments... because it really is so difficult to anticipate such short term price movement direction when we currently seem to be hovering in a $404 to $408 channel, which could last for several hours, and even for several days.. but it does seem to be that odds are pretty good that the upward break will be upwards, rather than downwards, but it could take 24 to 72 hours... and if it takes 72 hours, then the odds likely begin to lean towards a downwards breakout, rather than upwards..  no?

[adamstgBit]

That's 2$, Adam. Double or nothing again?

as in life it always pays to play these games, sometimes you score somthing priceless.

martingales are fun ... until you break the global monetary system

global monetary system is known to be broken, isnt it? isn't that what 2008 was about? i'm afraid I understand bitcoin better then i understand global monetary policy, so i'm not sure if what you sugest is ture or not... 

The global monetary system is beautiful in it's insanity. It's based on debt as every unit is lent into existence. Every one of those units will need to be paid back with interest, so there is not enough money in the world to do it, so more and more coercive measures are needed to get people to borrow.  IF credit stops expanding, the whole thing will collapse into a black hole.

Artificially low interest rates. money printing. Tax breaks for loans like mortgages. Government deficit spending.  New money is created to pay the interest on existing debt, but that new money is created as debt and also will be required to be paid back with interest. 

LOL
very well put.

[adamstgBit]

It's going back up! Come on, Adam. It's only four bucks.

na

i gata go to bed if i bet 4$ i will stay up, and my girl will be sad, and thats just no good for me.


but hey $4 says >412.5 by morning, take it or leave it.

you've made $2 so far, why not bet $4

i really gtg,

let's make a few more bets on some 2hr candles or somthing tomorrow, it's fun!

[Cconvert2G36]

-snip-
Bitmain is the only company selling retail mining equipment and their miners are shitty, overpriced and inefficient. 21 could compete with them profitably without much effort, but they are too greedy, wanting to keep the miners for their own micropayments channel. Bitfury is doing the same thing overseas. They are not investing in a distributed network. They are investing in making it less distributed.  

You got maybe one out of three there, overpriced.

Aside from the S2... all my bitmain gear has been rock solid [s1 through s5]. They even supported the S1 well longer than expected by offering safely packed upgrade hashing boards/controllers to convert to S3 on the old frames, heatsinks, and fans.  

The S7 is pretty efficient, and got to the retail market for this gen well before a bunch of the other's chips were even fabbed. Of course they were/are priced high, pretty much the only game in town for joe retail. Hopefully that will change once the big guys have their own mines humming, probably after the halving, amirite?

Bitmain/Antpool mined the first classic block by a major pool today... that alone is a big + in my book.

Jihan Wu, co-founder, seems to get it:  
https://twitter.com/JihanWu/with_replies

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

It's going back up! Come on, Adam. It's only four bucks.

na

i gata go to bed if i bet 4$ i will stay up, and my girl will be sad, and thats just no good for me.


but hey $4 says >412.5 by morning, take it or leave it.

you've made $2 so far, why not bet $4

i really gtg,

let's make a few more bets on some 2hr candles or somthing tomorrow, it's fun!

Why the hell not? You've been a good sport, so ok.  deal.

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

-snip-
Bitmain is the only company selling retail mining equipment and their miners are shitty, overpriced and inefficient. 21 could compete with them profitably without much effort, but they are too greedy, wanting to keep the miners for their own micropayments channel. Bitfury is doing the same thing overseas. They are not investing in a distributed network. They are investing in making it less distributed.  

You got maybe one out of three there, overpriced.

Aside from the S2... all my bitmain gear has been rock solid [s1 through s5]. They even supported the S1 well longer than expected by offering safely packed upgrade hashing boards/controllers to convert to S3 on the old frames, heatsinks, and fans.  

The S7 is pretty efficient, and got to the retail market for this gen well before a bunch of the other's chips were even fabbed. Of course they were/are priced high, pretty much the only game in town for joe retail. Hopefully that will change once the big guys have their own mines humming, probably after the halving, amirite?

Bitmain/Antpool mined the first classic block by a major pool today... that alone is a big + in my book.

Jihan Wu, co-founder, seems to get it:  
https://twitter.com/JihanWu/with_replies

You're crazy. You think a S7 28nm can compete with 14nm chips? You're eating what? 1,293 watts? Unless you're getting free electricity, it will take you a year just to recoup the cost of purchase, and by then who knows what the difficulty will be?  We know for sure the block reward will be halved.

You have to speculate that the price will go up to compensate, but if you're doing that anyway, why not just buy coins? It's a much more liquid asset than mining gear.

Look, I like Bitmain. I just wish they had some competition. It seems like free money for chipmakers, but those greedy bastards wont sell to the public.

[tex99]

In twenty minutes the next Gox creditors meeting starts and according to this reddit thread some kraken users have already had their Gox claims approved through it. One post in that reddit thread says all claims are in JPY. Does that mean the Gox coins will be auctioned or sold to pay the creditors in JPY?

https://www.reddit.com/r/Bitcoin/comments/4648wk/mtgox_bankruptcy_claims_the_trustee_has_approved/

Will all this Gox crap move the price?

[Cconvert2G36]

You're crazy. You think a S7 28nm can compete with 14nm chips? You're eating what? 1,293 watts? Unless you're getting free electricity, it will take you a year just to recoup the cost of purchase, and by then who knows what the difficulty will be?  We know for sure the block reward will be halved.

You have to speculate that the price will go up to compensate, but if you're doing that anyway, why not just buy coins? It's a much more liquid asset than mining gear.

Look, I like Bitmain. I just wish they had some competition. It seems like free money for chipmakers, but those greedy bastards wont sell to the public.

You combative malcontent...    

Timing is everything. Sure, the stuff just hitting from others is 33% more efficient, but the S7's have been running for months and months, before the difficulty went absolute bonkers. I repeat... timing is everything, you've lost that 33% easily in diff increases. It's one big race to earn it back before you go negative...