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

[Asrael999]

Well, the entire world economy doesn't need to go Bitcoin. However, if even 1% of the world economy goes Bitcoin, you have an amount equal to a few thousand percent of the current market cap.

You ever consider how much it would cost to secure a "$20 trillion+" POW network? Taking into account that it costs ~25BTC/10 mins to secure it now, when the market cap is a mere 10 billion?

It would still cost 25BTC/10 minutes (or more likely a significantly lower amount as more than two more halvings are likely to have taken place) But the purchasing power of 1BTC would have increased dramatically.

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[600watt]

I think you'll find that any widely used currency will see a substantial amount of it being spent on criminal shit, obviously, so that points invalid really imo.

Most currencies aren't used *primarily* for khrymez. Bitcoin is an unnoticeable fraction of a fraction of 1% of world's currencies, yet it's already responsible for 40% criminal to criminal payments (c2c) on the interweb.

Only 40% really?? wow I thought it would be way more than that, plus the media has spewed alot of bs demonizing BTC on behalf of the government and central banks etc. to add to that. Anyway you have to respect BTC if you have any respect for crypto currency cos it is and always will be the daddy, so pay homage little pheasant to the daddy of all crypto currencies. Also idc if you can buy drugs over the web, using BTC or not, people will always purchase and abuse drugs, at least this way they can do it safely without having to deal with shady ass street dealers and anonymously cos were not all shameless and think it looks good to be seen buying drugs or some shit.

bullshit. it is about 4 or 5%.

Europol: Bitcoin accounts for over 40% of criminal-to-criminal online payments
Stay in denial.

if you want reliable figures, whom do you trust more: an independant online security company or fucking police press release that desperately needs justification to suck out more budget to hire more staff/drive better cars/gain more influence/get paid better/fly more first class/etc/etc

it is fucking 3% only

Contrary to what most people believe, Bitcoin is not a big part of these financial scams, though. Albeit 3% of survey respondents indicated they had lost Bitcoin funds in the process, the primary culprit were online scams or fraud, followed by data leakage. Additionally, losing funds through a financial organization ranks higher than Bitcoin losses as well.

http://www.newsbtc.com/2016/05/30/kaspersky-labs-bitcoin-online-scams/

[BlindedByStick]

Well, the entire world economy doesn't need to go Bitcoin. However, if even 1% of the world economy goes Bitcoin, you have an amount equal to a few thousand percent of the current market cap.

You ever consider how much it would cost to secure a "$20 trillion+" POW network? Taking into account that it costs ~25BTC/10 mins to secure it now, when the market cap is a mere 10 billion?

It would still cost 25BTC/10 minutes (or more likely a significantly lower amount as more than two more halvings are likely to have taken place) But the purchasing power of 1BTC would have increased dramatically.

You're confusing block reward with network security. We can opt to end block reward (change the reward schedule, drop it to zero) right now, and it would still cost 25BTC every ten minutes to secure the network at the current level. At 20 trillion market cap, that would be $500,000,000,000,000 every 10 minutes. That's a $3e.16 every hour, which is a nice chunk of cash

[BlindedByStick]

I think you'll find that any widely used currency will see a substantial amount of it being spent on criminal shit, obviously, so that points invalid really imo.

Most currencies aren't used *primarily* for khrymez. Bitcoin is an unnoticeable fraction of a fraction of 1% of world's currencies, yet it's already responsible for 40% criminal to criminal payments (c2c) on the interweb.

Only 40% really?? wow I thought it would be way more than that, plus the media has spewed alot of bs demonizing BTC on behalf of the government and central banks etc. to add to that. Anyway you have to respect BTC if you have any respect for crypto currency cos it is and always will be the daddy, so pay homage little pheasant to the daddy of all crypto currencies. Also idc if you can buy drugs over the web, using BTC or not, people will always purchase and abuse drugs, at least this way they can do it safely without having to deal with shady ass street dealers and anonymously cos were not all shameless and think it looks good to be seen buying drugs or some shit.

bullshit. it is about 4 or 5%.

Europol: Bitcoin accounts for over 40% of criminal-to-criminal online payments
Stay in denial.

if you want reliable figures, whom do you trust more: an independant online security company or fucking police press release that desperately needs justification to suck out more budget to hire more staff/drive better cars/gain more influence/get paid better/fly more first class/etc/etc

it is fucking 3% only

Contrary to what most people believe, Bitcoin is not a big part of these financial scams, though. Albeit 3% of survey respondents indicated they had lost Bitcoin funds in the process, the primary culprit were online scams or fraud, followed by data leakage. Additionally, losing funds through a financial organization ranks higher than Bitcoin losses as well.

http://www.newsbtc.com/2016/05/30/kaspersky-labs-bitcoin-online-scams/

Err, I believe the least reliable bitcoin news source, news BTC? When I click on the "source" link at the bottom of that article, I get http://www.antaranews.com/berita/563955/26-persen-konsumen-indonesia-jadi-korban-penipuan-daring.
Which is not to say that 3% is not an astoundingly high number for a currency that handles ~.000001% of internet transactions.
Stay deluded.

[gentlemand]

40% of online criminal payments, eh? Then it's reassuring to know that online criminals are so rare considering how piddly the market cap is.

[BlindedByStick]

I think you'll find that any widely used currency will see a substantial amount of it being spent on criminal shit, obviously, so that points invalid really imo.

Most currencies aren't used *primarily* for khrymez. Bitcoin is an unnoticeable fraction of a fraction of 1% of world's currencies, yet it's already responsible for 40% criminal to criminal payments (c2c) on the interweb.

Only 40% really?? wow I thought it would be way more than that, plus the media has spewed alot of bs demonizing BTC on behalf of the government and central banks etc. to add to that. Anyway you have to respect BTC if you have any respect for crypto currency cos it is and always will be the daddy, so pay homage little pheasant to the daddy of all crypto currencies. Also idc if you can buy drugs over the web, using BTC or not, people will always purchase and abuse drugs, at least this way they can do it safely without having to deal with shady ass street dealers and anonymously cos were not all shameless and think it looks good to be seen buying drugs or some shit.

bullshit. it is about 4 or 5%.

Europol: Bitcoin accounts for over 40% of criminal-to-criminal online payments
Stay in denial.

Who in their right mind would use PayPal for trackable criminal activity on the Internet?

Criminals are apparently ahead of their time in realizing the best online payment method.

That makes me wonder how the other 60% of online criminals make online payments? Did drug dealers started to accept credit cards or wires or paypal??? Oh i know maybe the other 60% are using ripple doge etherpoop lsk? Can't keep up did something new came out in the last hour or are we still on List?

Nah, the other criminals are using fiat payment options. Which does not imply that having 6495 murders in your mom's basement every year makes it a safer place than the country of United States, where a whopping 16238 are killed every year.
Analogously, 40% of all c2c payments for a currency as tiny as BTC is fucking mind-boggling. Which is not to say bad.
So come on, Duke, let's go do some crimes. Yeah. Let's go get sushi and not pay.

[Elwar]

The dollar was used in over $3 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

[BlindedByStick]

The dollar was used in over $4 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

Check out the big brain on Brett! That's because fiat is roughly a billion times bigger than bitcoin. How many times does this need to be repeated?

[LFC_Bitcoin]

The dollar was used in over $4 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

Of course it is, the multi billion a year drug trade, prostitution, people trafficking, arms dealing, that's been going on for hundreds of years has been paid for by what?

Not bitcoin.

[podyx]

Newsflash: If you cannot buy drugs and weapons with a currency, that currency has little value.

[BlindedByStick]

The dollar was used in over $4 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

Of course it is, the multi billion a year drug trade, prostitution, people trafficking, arms dealing, that's been going on for hundreds of years has been paid for by what?

Not bitcoin.

I'm forced to conclude that either your mind has been ravaged by subpar DNM meth, or you're being willfully ignorant. I'll give you the benefit of the doubt and try to walk you through this.

1. Imagine yourself living in a trailer park called Bitlandia,
2. ...which consists of three dilapidated trailers and one cardboard box.
3. Roughly 6495 murders happen in Bitlandia every year.
4. Bitcoin social scientist BitBilly04676 posits that living in Bitlandia is safer than living in Unitted States of America, because in America, a whopping 16238 murders happen every year.

Do you find BitBilly04676's reasoning sound? Why/why not?

Newsflash: If you cannot buy drugs and weapons with a currency, that currency has little value to criminals.

FTFY. Makes it a great currency for everyone else.

[BlindMayorBitcorn]

Another day, another ATH for ETH.

[JaneEverycunt]

Another day, another ATH for ETH.

http://s32.postimg.org/ffrtvmv4l/ohno.gif

[Elwar]

The dollar was used in over $4 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

Check out the big brain on Brett! That's because fiat is roughly a billion times bigger than bitcoin. How many times does this need to be repeated?

No, that's because the US only accepts dollars (Federal Reserve Notes) for taxes.

[JaneEverycunt]

The dollar was used in over $4 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

Check out the big brain on Brett! That's because fiat is roughly a billion times bigger than bitcoin. How many times does this need to be repeated?

No, that's because the US only accepts dollars (Federal Reserve Notes) for taxes.

Then stop working for the US military and go live with Elmo under the sea?
https://s-media-cache-ak0.pinimg.com/736x/06/78/6d/06786da0374202f4fe52ec0598e44082.jpg
Lol, sorry, *Elwar! You're him! How is that Water World project going, BTW, like every Bitcoin venture ever?

[Elwar]

The dollar was used in over $4 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

Check out the big brain on Brett! That's because fiat is roughly a billion times bigger than bitcoin. How many times does this need to be repeated?

No, that's because the US only accepts dollars (Federal Reserve Notes) for taxes.

Then stop working for the US military and go live with Elmo under the sea?

Lol, sorry, *Elwar! You're him! How is that Water World project going, BTW, like every Bitcoin venture ever?

A lot better than your diet.

[JaneEverycunt]

The dollar was used in over $4 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

Check out the big brain on Brett! That's because fiat is roughly a billion times bigger than bitcoin. How many times does this need to be repeated?

No, that's because the US only accepts dollars (Federal Reserve Notes) for taxes.

Then stop working for the US military and go live with Elmo under the sea?
https://s-media-cache-ak0.pinimg.com/736x/06/78/6d/06786da0374202f4fe52ec0598e44082.jpg
Lol, sorry, *Elwar! You're him! How is that Water World project going, BTW, like every Bitcoin venture ever?

A lot better than your diet.

https://media.giphy.com/media/n6KHppJdQNsbe/giphy-facebook_s.jpg
I don't get it

P.S. I got a 25-horse 70s Evinrude out back somewhere, you want it? Might be seized...

[Karartma1]

The dollar was used in over $3 trillion in theft by the US government alone in 2015.

Fiat is used much more for crime than bitcoin for now.

The Vatican used to launder a lot of money for criminal organization

https://en.wikipedia.org/wiki/Institute_for_the_Works_of_Religion#Controversies

I don't think bitcoin was live back then, was it?


This denial phase will last a little longer until this rotten economy will draw its final breath.

[marcus_of_augustus]

Using bitcoin in the Vatican Bank would be about as welcome as sprinkling Holy Water around/over a Satanic ritual congregation.

[strawbs]

German government 10-year bond yields have just gone negative for the first time, joining Switzerland and Japan in the same boat.  Germans are basically so worried about future losses that they're willing to pay their government to look after their fiat.

http://www.bbc.co.uk/news/business-36526008