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

[Torque]

Yes, real inflation rates are about 7% per year taken on a 10 year timeline. I typically look at food and building costs. For me, the costs of both are up 50% and more over the past 2 years only.  An avocado now costs $3 each and a sheet of plywood is $45. (canadian dollars)
Good reason to store my value in BTC.

Yeah, agree. Food, building costs, utility pymts, health care, maintenance costs (car maintenance bills, oil changes, haircuts, etc.). Those are the main ones I see jumping 7-10% a year.

Poor Average Joe must still think that their job wage will somehow magically increase by 70% in the next 10 years, when it hasn't budged in the last 10. SMH. Bitcoin to the rescue.

Wow, $45CAD for plywood sheet?  

Also, at what point do people stop paying those high avocado prices. It's just a fruit, lol.

[1714640363]

1714640363

[1714640363]

1714640363

[1714640363]

1714640363

[Icygreen]

Yes, real inflation rates are about 7% per year taken on a 10 year timeline. I typically look at food and building costs. For me, the costs of both are up 50% and more over the past 2 years only.  An avocado now costs $3 each and a sheet of plywood is $45. (canadian dollars)
Good reason to store my value in BTC.

Wow, $45CAD for plywood sheet?  

Also, at what point do people stop paying those high avocado prices. It's just a fruit, lol.

To be fair, yes plywood is $45 a sheet and partly due to recent fires in the interior but........... are these fires and "natural world disasters" going to break anytime soon? 
People will pay until they cannot and then ushers in a higher class who can still afford it and this is where demographics change.

[Karartma1]

Bitfinex Motivation behind SegWit2x trading pairs

One of the interesting characteristics of open-source projects is that developers are free to split the code into new projects if they want to take a project in a new direction. In open-source terms, this is called forking the project.

I would say that one of the interesting characteristics of doing such a thing, dear Bitfinex, is to profit as soon as possible from this game. Inflating useless tokens in the market before the time.
Again, we are becoming worst than the ones we wanted to replace in the first place.

[AlexGR]

:'(CPI is a government statistic also.   The end figures only publish after approval and adjustment, they will not report the higher price of a car for example without first discounting the car as being superior to one ten years ago.    So say 25% higher price, they might reduce actual recorded inflation and say the car is 20% improved so inflation of price is 5%.  Fair or not this is not a plain number hence the steady line may be from this constant process of correction.

Dollar is rising today as earnings average rises at its fastest for some time

http://www.businessinsider.com/if-people-knew-the-actual-inflation-rate-it-would-crash-the-economy-2016-8

There's another huge implication which is left unmentioned in the article and it concerns economic growth.

Economic growth is the increase in GDP minus the effect on inflation. Per wiki:

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.[1]


https://en.wikipedia.org/wiki/Economic_growth

So if GDP goes from 100bn to 105bn but you have 2% inflation, that's only 3% growth because you deduct the 2%.

But if the 2% reported inflation is actually 7%, then you must deduct 7% from the 105bn, which then makes "growth" into recession (~98bn).

Economies worldwide are presenting false growth numbers based on artificially reduced inflation indexes. They are counting inflation as growth.

[Torque]

There's another huge implication which is left unmentioned in the article and it concerns economic growth.

Economic growth is the increase in GDP minus the effect on inflation. Per wiki:

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.[1]


https://en.wikipedia.org/wiki/Economic_growth

So if GDP goes from 100bn to 105bn but you have 2% inflation, that's only 3% growth because you deduct the 2%.

But if the 2% reported inflation is actually 7%, then you must deduct 7% from the 105bn, which then makes "growth" into recession (~98bn).

Economies worldwide are presenting false growth numbers based on artificially reduced inflation indexes. They are counting inflation as growth.

Right. And who's to say that GDP even increases by as much as they report, if at all? They can game that number too.

[jojo69]

I'm pulling my buys and resetting them around 3300

I like me some cheap coins

[conspirosphere.tk]

They are counting inflation as growth.

Not only: we cannot deduct inflation from nominal gains when paying taxes. So we are fully taxed on inflation. A steal within a theft.

[Globb0]

Yes, real inflation rates are about 7% per year taken on a 10 year timeline. I typically look at food and building costs. For me, the costs of both are up 50% and more over the past 2 years only.  An avocado now costs $3 each and a sheet of plywood is $45. (canadian dollars)
Good reason to store my value in BTC.

Wow, $45CAD for plywood sheet?  

Also, at what point do people stop paying those high avocado prices. It's just a fruit, lol.

To be fair, yes plywood is $45 a sheet and partly due to recent fires in the interior but........... are these fires and "natural world disasters" going to break anytime soon?  
People will pay until they cannot and then ushers in a higher class who can still afford it and this is where demographics change.

The other thing I see devaluing the whole system even more for everyone is the gulf between rich and poor.

eg Footballers money is skyrocketing, luxury car makers make the top models increasingly expensive, its not 500k anymore its 3 mil. Now the whole system pegs up and prices in the lower ranges adjust up. As stated, not so for the common guys wages. Frozen for multiple years.

[bitserve]

BREAKING NEWS: Caixabank (main catalonian Bank) moves its headquarters from Catalonia (Barcelona) to Valencia.

Banco de Sabadell (second catalonian bank) and Mediolanum already decided it yesterday.

Maybe that explains the recent surge of BTC? Ya know: "Bitcoin for the underbanked"

[Dabs]

@Icygreen, how thick is that $45 plywood? 1/8? 3/4 inch? I got one of those minivans that supposedly can fit plenty sheets of plywood when you fold down the seats.

[AlexGR]

There's another huge implication which is left unmentioned in the article and it concerns economic growth.

Economic growth is the increase in GDP minus the effect on inflation. Per wiki:

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.[1]


https://en.wikipedia.org/wiki/Economic_growth

So if GDP goes from 100bn to 105bn but you have 2% inflation, that's only 3% growth because you deduct the 2%.

But if the 2% reported inflation is actually 7%, then you must deduct 7% from the 105bn, which then makes "growth" into recession (~98bn).

Economies worldwide are presenting false growth numbers based on artificially reduced inflation indexes. They are counting inflation as growth.

Right. And who's to say that GDP even increases by as much as they report, if at all? They can game that number too.

Yeah, they are not actual numbers. Just "estimates". A few years ago our local finance minister decided the GDP went up by 25% overnight

http://money.cnn.com/galleries/2007/biz2/0701/gallery.101dumbest_2007/39.html

They are counting inflation as growth.

Not only: we cannot deduct inflation from nominal gains when paying taxes. So we are fully taxed on inflation. A steal within a theft.

There is too much theft involved with inflation. Taxes, deposits, social security, you name it.

[vroom]

bitcoin is really bullish right now. thanks to bitfinex, more and more people believe in free altcoin and want a bigger piece from the cake.

[Globb0]

That would be an ironic end if the people trying to undermine and destroy bitcoin caused its greatest success.

[podyx]

[xhomerx10]

 Yep! 1800+ coins in 3 minutes on Bitfinex.

edit: WTF and then an equal buy in the next 3 minutes?

[Icygreen]

@Icygreen, how thick is that $45 plywood? 1/8? 3/4 inch? I got one of those minivans that supposedly can fit plenty sheets of plywood when you fold down the seats.

Standard 1/2".  I'll put my buy order in for 50 sheets at $35.52 BTC.0064  

[600watt]

kraken down?

[bitserve]

kraken down?

A few minutes ago, yes. Working now...

[d_eddie]

kraken down?

A few minutes ago, yes. Working now...

I guess they were rehearsing for the fork. 

[Meuh6879]

where ?

https://www.btcforkmonitor.info/