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

[Syke]

I'm getting an upgrade in November. What's the best out there? Samsung?

Google Pixel 2

[1714489647]

1714489647

[1714489647]

1714489647

[Asrael999]

I'm getting an upgrade in November. What's the best out there? Samsung?

Google Pixel 2

It’s the one you already have - there is virtually nothing you can do on a brand new smartphone that you can’t do on a model from two years ago. If you need to just get a new battery fitted

[Ted E. Bare]

Who sold at the bottom?

[rjclarke2000]

Who sold at the bottom?

Oh Ted, what's going on. Why aren't we at 32k yet?

[Raja_MBZ]

No government is going to stop bitcoin. Everyone will try to amend their rules and regulations, so that they could also squeeze off some profit from cryptocurrencies. Banning the whole trading/mining/etc is not possible at all. JPM is a Junk Piece Moron, nothing else.

Whatever it is, Bitcoin bites off any hand that tries to 'close it down'. All the negative news lately serves one thing and one thing only: more awareness of this unstoppable thing. It's logical.

Man, very well said. Really.

[yermom]

Whatever it is, Bitcoin bites off any hand that tries to 'close it down'. All the negative news lately serves one thing and one thing only: more awareness of this unstoppable thing. It's logical.

FUD so big they're now putting it right on the front page! Gotta keep Average Joes far away!

https://www.cnbc.com/

"If you really wanted to turn off the global internet, you'd have to seek out people on every continent and every country," said Cowie from Renesys. "The internet is so decentralized that there is no kill switch." "No you can't do that," said Harvard's Faris. "The internet is designed to be robust. Feb 3, 2011

"Governments will close down bitcoin and cryptocurrencies if they get too big", warns Jamie Dimon Sept 20, 2017

Consider the following:

Governments close down:

- All or nearly all major exchanges
- All or nearly all major online market places using Bitcoin or some other crypto they want to target, including those on the darknet (on which LE is quite succesfull as of late)
- Outlaw Bitcoin (or again, some other crypto they want to target) transactions altogether, and actively police shops and companies that openly accept it.

You do not consider that this scenario 'might be problematic'? As said thousands of times before: nearly no one uses Bitcoin in the present. The percentage of the population that heard of it is (very) small as well. Without mainstream backing this will be a massive hurdle, if not a fatal one, as by far most people in society are not even interested in the ideological goals of hardcore Bitcoiners. And those people will be reading newspapers as well, including those that constantly vomit out negative stories about it.

Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.

Did they shut down p2p networks? torrent, emule...?
I hope you are here posting in a couple of years, at least with this name
Whatever happens, governments are going to lick our asses uknow

[infofront]

Ban the printing presses! We can't allow the peasants to read!

[Last of the V8s]

Ban the printing presses! We can't allow the peasants to read!

also let's have a war on drugs

[realr0ach]

Hilarious, people are now deleting posts trying to cover up the truth and continuous fraud in this market:

Scamfinex has one single entity controlling price all the way from $200 to $4000.  The same amount of effort spent trying to manipulate metals down is spent on bitfinex trying to manipulate BTC up.  I used to think it was China mining cartel doing it, but then it became obvious Bitfinex staff themselves were involved during the halving.  It's either a complete replica of MtGox, or Finex staff + these Chinese guys made some type of deal to work together and rig the market.  The so called "spoofer" of recent fame is this entity at work.

[ParabellumLite]

Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.

crackdown != shutdown (or, as more popular these days, 'close down'  )

Yes, problematic in terms of adoption
No, it won't stop the cat that's out of the bag

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet. There are plenty of reasons to assume it could fail, including how it could be utilized for tax evasion, money laundering and overall criminal activities (including the funding of those activities). While governments are supposed to hold no oversight over it?  That is simply unrealistic: governments hate to lose control, and Bitcoin in that sense is no different. It might no longer be anonymous, but it does complicate tracking the flow of money.

My position remains the same: people here continuously overlook the regulatory aspects in play here, and just assume everything will automagically click into place in the future. I simply have a lot of doubts with respect to that assumption. It will not go that way.

[realr0ach]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

[practicaldreamer]

... governments hate to lose control..

Yep - the people that they are supposed to represent don't like losing control too much either.

Bitcoin will become a political issue - that is, decentralised global peer to peer cash will become a political issue. Being as how no-one is controlling bitcoin, it seems like a difficult argument for TPTB to win.

Question is, which governments will lose the least by regulating favourably for bitcoin ?

[yermom]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

If it's possible in one way, then the opposite is also factible.
My 0.02 BTC

[pete777]

People here are too optimistic. I am long time holder but I am not some dreamer.. You cannot destroy bitcoin, that`s true. But you can ban or heavily regulate exchanges. You still need FIAT, value of bitcoin is presented in $,€... so if you cannot exchange your bitcoins for fiat, what do you have? Can you buy food, pay bills, pay for your phone with BTC? Pay your medical bills?

[realr0ach]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

If it's possible in one way, then the opposite is also factible.
My 0.02 BTC

Lol, no.  If it's possible to create a centralized digital currency, there is no scientific law that states it's mandatory a decentralized one be possible.  This is not yin and yang.

[ParabellumLite]

... governments hate to lose control..

Yep - the people that they are supposed to represent don't like losing control too much either.

Bitcoin will become a political issue - that is, decentralised global peer to peer cash will become a political issue. Being as how no-one is controlling bitcoin, it seems like a difficult argument for TPTB to win.

Question is, which governments will lose the least by regulating favourably for bitcoin ?

Agreed: this will become a high profile topic in the long run if people start using it on a grand scale. But political support for unregulated crypto is not likely, at least so it seems.  There is too much at stake in that sense for governments to just let it slip.

I think all governments will feel threathened to some extent, although there will be differences in how this space gets regulated. I like to compare it to taxation: plenty of nations are cracking down on tax evasion, yet there are still tax havens. But will those tax havens still be there 20-30 years from now? I doubt it.

[rjclarke2000]

Maybe they should ban gold and silver too.

[yermom]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

If it's possible in one way, then the opposite is also factible.
My 0.02 BTC

Lol, no.  If it's possible to create a centralized digital currency, there is no scientific law that states it's mandatory a decentralized one be possible.  This is not yin and yang.

If you really believe that I respect it.

[Emelectrol]

Consider the following:

Governments close down:

- All or nearly all major exchanges
- All or nearly all major online market places using Bitcoin or some other crypto they want to target, including those on the darknet (on which LE is quite succesfull as of late)
- Outlaw Bitcoin (or again, some other crypto they want to target) transactions altogether, and actively police shops and companies that openly accept it.

You do not consider that this scenario 'might be problematic'? As said thousands of times before: nearly no one uses Bitcoin in the present. The percentage of the population that heard of it is (very) small as well. Without mainstream backing this will be a massive hurdle, if not a fatal one, as by far most people in society are not even interested in the ideological goals of hardcore Bitcoiners. And those people will be reading newspapers as well, including those that constantly vomit out negative stories about it.

Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.

True, but I don't think that all the countries will reach an agreement to do so.

If a country bans bitcoin (ex China) another country will see this as an opportunity to attract new businesses (ex Russia)

[practicaldreamer]

Financial freedom has always been a political issue.

But the game has changed - the question has been chrystalised. And unless the answer can be sufficiently succinct then the argument will be lost.

Only need a few 'bad apples' (ie. govt.s with more to gain from BTC (and the financial emancipation of its citizens) than they have to lose) and the whole house of cards could well come crashing down.

US is looking good to me. China is moving towards dumping USD as reserve currency + US has a long ideological history of freedom of individual etc.

But more likely it will take route, on a national scale, in smaller countries first and foremost.

Having said that, Japan is looking good too.