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Question: When $60K? (EST time zone)
Feb. 21 - 7 (5.7%)
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Feb. 24 - 9 (7.4%)
Feb. 25 - 8 (6.6%)
Feb. 26 - 9 (7.4%)
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After March - 14 (11.5%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25193170 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
JayJuanGee
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How much alt coin diversification is needed? 0%?


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July 11, 2017, 08:00:42 PM

Surely you are looking at this completely wrong. You can't comment on $, you need to work it out in % otherwise it's pretty crappy logic

Agreed, marketcap numbers are skewed and not a complete picture.

The things to focus on are: estimated market float vs. "circulating supply", total supply cap, relative distribution, and %up or down. You also have to account for what is most subjectively "valued" relative to bitcoin (i.e., bitcoin is more valued than an alt, which is more valued than an ICO token).

Yeah I knew it was maybe a short cut way to see things. But hey! the OP is "Observer BTC/USD..." so I though why not.  Grin
Thanks anyway.


It does not hurt to speculate in various ways and to consider different kinds of frameworks...  However, if you get too loosey goosey with your logic and your framework, then you are talking gibberish or placing way too much importance into factors that have little to no value.

Sometimes the framework that you chose to describe something, such as bitcoin, or you try to communicate how it has changed, there is some meaning to your assertion that the whole dollar value market cap change is equal to the whole market cap of a year ago, but then you need more than just that one fact to come to any kind of meaningful conclusion regarding whether you are asserting the asset to be overvalued or some other argument that you want to make about it.
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Mr Frog
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July 11, 2017, 08:15:19 PM
Last edit: July 11, 2017, 11:44:34 PM by Mr Frog

Surely you are looking at this completely wrong. You can't comment on $, you need to work it out in % otherwise it's pretty crappy logic

Agreed, marketcap numbers are skewed and not a complete picture.

The things to focus on are: estimated market float vs. "circulating supply", total supply cap, relative distribution, and %up or down. You also have to account for what is most subjectively "valued" relative to bitcoin (i.e., bitcoin is more valued than an alt, which is more valued than an ICO token).

Yeah I knew it was maybe a short cut way to see things. But hey! the OP is "Observer BTC/USD..." so I though why not.  Grin
Thanks anyway.


It does not hurt to speculate in various ways and to consider different kinds of frameworks...  However, if you get too loosey goosey with your logic and your framework, then you are talking gibberish or placing way too much importance into factors that have little to no value.

Sometimes the framework that you chose to describe something, such as bitcoin, or you try to communicate how it has changed, there is some meaning to your assertion that the whole dollar value market cap change is equal to the whole market cap of a year ago, but then you need more than just that one fact to come to any kind of meaningful conclusion regarding whether you are asserting the asset to be overvalued or some other argument that you want to make about it.


I do not overvalue Bitcoin, and did not wanted to make any argument in particular other than the numbers from the BTC Market Cap alone.
But I understand that it doesn't mean much looking at it alone.

Regardless, the figures when I saw them made me think that BTC took a huge step UP in 2017.
And that now such a huge drop doesn't affect the price that much. I mean, at the moment it is nothing in term of dollars for BTC. Specially if we add on top of that the war we are in.

Sorry not been English native speaking cost me more time to make dip analysis. The words doesn't comes naturally.
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July 11, 2017, 08:17:52 PM

It looks like the big altcoin crypto bubble is bursting on all frontiers currently:

  • Altcoins crashing in Bitcoin ratio
  • GPU mining rewards decreased by 75%
  • Poloniex Bitcoin lending market down to a wooping 0.03%/day when it was 0.7% at some point
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July 11, 2017, 08:32:26 PM

BTC total Market Cap

11th june 2017 $47 000 000 000 ---> 11th july 2017 $38 000 000 000.  $9 000 000 000 lost in 1 month.

11th july 2016 BTC total market cap $10 000 000 000

I can add those numbers to have more short data.

Total Market cap
was around $25 000 000 000 until mid April 2017 Then...

From $54 000 000 000 to $116 000 000 000 in 1 month  mid may to mid june 2017 +$62 000 000 000

From $116 000 000 000 to $78 000 000 000 in 1 month  mid june to mid july 2017 -$38 000 000 000

Bigs Ups And Downs.
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July 11, 2017, 09:01:06 PM

If the sort of dystopian, hyper-inflationary future that gold bugs predict actually happens, it seems likely to me that there will be jackbooted thugs kicking down their doors to take their gold. This has happened before, even in the US.

If they want to steal my bitcoins, they'd better be able to crack SHA-256.

Exactly. But I don't think it'll get that far. You know why? Because the Global elite's ultimate goal is to swamp Average Joe in so much debt and taxes, and increase the cost of living beyond his means, that he won't be able to purchase and horde metals or bitcoin. They won't have to kick any doors in because they know that no one will have any horded wealth to confiscate.

Because when hyperinflation sets in, all undervalued real/true assets will rise in value relative to fiat. And the global elite don't want anyone else to have those kind of assets. They want Average Joe to have debts and taxes, a lot of them, and so much so that it's virtually un-payable in one's lifetime. That's how they keep everyone on the endless work hamster wheel, indebted to them for one's entire life.

They also want Average Joe to lose all ability to take care of himself, lose the ability to rely on himself to produce food, energy, clothing, routine maintenance, maintain his health, etc. so that he is always and constantly reliant on the state and the rest of society to help him live. More debt slavery to the external.

Moral: Eliminate your debts, pay off your house and cars, and store your excess wealth in bitcoin, land, some metals, rare art and collectables. Save and buy everything you need with cash. Never use credit for anything unless you have no other way, and pay it off almost immediately. And have a plan to run to the hills or another country with the majority of your wealth intact, should things get really bad where you live.


For some reason I kept reading "Avenger Joe". Cheesy Cheesy
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July 11, 2017, 09:27:11 PM

The hero we need.

No need for theory on what happens when a country takes on too much debt to service its trade requirements, its happened and is happening now in various countries.  The thing different now with Dollar would be that its the reserve currency and so a break down there has an influence in many countries.  This is why other countries are also building up debt, Yen and Japan is most interesting right now with likely all value in FIAT going to be wiped out.  
They have allowed bitcoin as an alternative there.  I hope its of some use to the population in avoiding failure not that we should celebrate any volatility in bitcoin, because it has real consequences for some in various countries with this unstable modern paper standard.

The short story is the weakest link will be the first to break.  I dont see people who are in productive industry as that weakness.  So if paper money is the failure or government debts too great, this is the part of society that should be wiped out first.   Otherwise we are talking about force and oppression

Dollar index value has generally been weaker for this year despite Federal reserve raising rates.  The real threat would be if they reversed QE or if government closed the deficit but until then I see open inflation and dollar weakness.

For most of today Bitcoin has been finding support after meeting a negative trend we beat at start of this month.  Also in this general area a line of support could be drawn.  If both are negated, the price might match a proper negative sentiment but I dont see that now
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July 11, 2017, 09:28:55 PM

snip

because no cryptocurrency created thus far (and probably ever) actually improves upon metals in any way
  

 Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

Here you go young shekler, this episode of the r0ach report is dedicated to you:

The r0ach report 18: The great PoW lie

https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-18-the-great-pow-lie
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July 11, 2017, 10:30:45 PM

Dollar index value has generally been weaker for this year despite Federal reserve raising rates.  The real threat would be if they reversed QE or if government closed the deficit but until then I see open inflation and dollar weakness.

U.S. economy looks like a near dead stop despite the Fed hiking rates:
https://fred.stlouisfed.org/series/M2V
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July 11, 2017, 10:31:31 PM

Market cap down from 115 to 80 billion.

Buy the bottom.

DIE ETHEREUM DIEEE!!!



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July 11, 2017, 11:22:21 PM

If the sort of dystopian, hyper-inflationary future that gold bugs predict actually happens, it seems likely to me that there will be jackbooted thugs kicking down their doors to take their gold. This has happened before, even in the US.

If they want to steal my bitcoins, they'd better be able to crack SHA-256.
Or crack your knees with a hammer until you give them your private key

Such an old chestnut - which was resolved approximately 3 decades ago when the first duress password system was designed.

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July 12, 2017, 12:02:50 AM

you change topic name guys ?

BTW its a long time many people want btc to slow down, why are you so afraid if it happen ?

maybe it will dip to 1200-1400$, that's a good price. don't panic. let them panic and buy USDT.
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July 12, 2017, 12:04:09 AM

Market cap down from 115 to 80 billion.

Buy the bottom.

DIE ETHEREUM DIEEE!!!





you need a doctor... keep calm.
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July 12, 2017, 12:22:26 AM

Market cap down from 115 to 80 billion.

Buy the bottom.

DIE ETHEREUM DIEEE!!!





you need a doctor... keep calm.

Sad the image didn't work. Here's link:
http://i.imgur.com/wOXuBWp.png
Just a portrait of Market Cap...
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July 12, 2017, 12:33:54 AM

snip

because no cryptocurrency created thus far (and probably ever) actually improves upon metals in any way
  

 Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

Here you go young shekler, this episode of the r0ach report is dedicated to you:

The r0ach report 18: The great PoW lie

https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-18-the-great-pow-lie

I am touched.

You say that cryptocurrency does not improve on metals in any way?

I shall make you a deal- if you can send me 1 Ounce of Gold to arrive to me in the next hour- I shall pay you  $10,000 (because thats how much I loves me some gold)  for it in Bitcoin which should likewise arrive within the hour? Sounds like a fair deal to me.

By the way I am on the motorway right now - on the way to the train station, on the way to the airport...


GO!


(ps It was precious metals that got me into trading, investing, and the concepts of sound money in the first place - many moons before cryptocurrency)


(pps I could always pay you in Steem if you prefer that?)

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July 12, 2017, 12:37:17 AM

It looks like the big altcoin crypto bubble is bursting on all frontiers currently:

  • Altcoins crashing in Bitcoin ratio
  • GPU mining rewards decreased by 75%
  • Poloniex Bitcoin lending market down to a wooping 0.03%/day when it was 0.7% at some point

As an altcoin gpu miner I've felt that in my flesh. But as a Bitcoin fanatic and long term believer I only mine ETC to exchange for Bitcoin and increase my stash, thus this reward decrease is actually being excellent to me, as we got from May to June an outstandingly increase in mining competition that dried GPU stores off. Roger Ver's shameful news outlet reported a mass of unemployed in many eastern-European countries were gpu-mining to complement their incomes, and that made things more difficult for those who were previously mining. Now that it is not profitable anymore (at least for those who aim on mining to sell and earn Fiat), alts gpu mining is back for those who see as a good investment to change their electricity bill for Bitcoins. Or buy Bitcoins with their electricity bill, whatever way you want to see it.
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July 12, 2017, 12:39:10 AM
Last edit: July 12, 2017, 01:04:22 AM by HostFat

https://np.reddit.com/r/BitcoinABC/comments/6mmms1/new_release_of_bitcoin_abc_0142/
https://np.reddit.com/r/btc/comments/6mmp49/new_release_of_bitcoin_abc_0142_rbitcoinabc/
Quote
This release include various changes. The most notable is a difficulty adjustment algorithm that decrease the difficulty in case hashrate gets very low. We obviously which that this feature won't be used, and it won't kick in if hashrate stay above 8% of the global hashrate. However, this ensure that this chain will survive no matter what, as long as someone think it is valuable.

Maybe if you have some old ASICs, they can be useful again ...
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July 12, 2017, 12:46:34 AM

https://np.reddit.com/r/BitcoinABC/comments/6mmms1/new_release_of_bitcoin_abc_0142/
https://npreddit.com/r/btc/comments/6mmp49/new_release_of_bitcoin_abc_0142_rbitcoinabc/
Quote
This release include various changes. The most notable is a difficulty adjustment algorithm that decrease the difficulty in case hashrate gets very low. We obviously which that this feature won't be used, and it won't kick in if hashrate stay above 8% of the global hashrate. However, this ensure that this chain will survive no matter what, as long as someone think it is valuable.

Maybe if you have some old ASICs, they can be useful again ...

How long for this code to be implemented?
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July 12, 2017, 12:46:51 AM

Maybe if you have some old ASICs, they can be useful again ...

Maybe in the winter, but not now, it's already too hot!
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July 12, 2017, 01:01:48 AM

How long for this code to be implemented?
It is already here:
https://github.com/Bitcoin-ABC/bitcoin-abc
https://github.com/Bitcoin-ABC/bitcoin-abc/commit/7ad1105f43d7bff158d4b5c882ab9bf1b74d6cce

https://www.bitcoinabc.org/binaries/0.14.2/

It is on the links that I've put before.
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July 12, 2017, 01:18:57 AM

snip

because no cryptocurrency created thus far (and probably ever) actually improves upon metals in any way
  

 Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy Cheesy

Here you go young shekler, this episode of the r0ach report is dedicated to you:

The r0ach report 18: The great PoW lie

https://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-18-the-great-pow-lie

I am touched.

You say that cryptocurrency does not improve on metals in any way?

I shall make you a deal- if you can send me 1 Ounce of Gold to arrive to me in the next hour- I shall pay you  $10,000 (because thats how much I loves me some gold)  for it in Bitcoin which should likewise arrive within the hour? Sounds like a fair deal to me.

It's not a valid argument.  It's like complaing about the speed of light existing, while if it did not exist, everything would happen at the same time.  That friction is required for anything to exist at all and also for things like decentralization to exist.  Reducing friction to zero is not actually a beneficial trait, especialy when doing so requires you to change from sound money to unsound money.  It's a pro-hyper globalization argument when globalization just leads to collapse.  

It's like Joseph Tainter says, "collapse is rapid simplification on a mass scale".  Such a thing can only happen if all systems are interconnected under globalization.  It's necessary to buffer systems off from one another induced by friction to avoid said outcome.
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