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

[Torque]

That's one of the basic differences between Bitcoiners and traders. The very first paragraph of Satoshi's white paper points to trustlessness as the raison d'etre for Bitcoin. Traders are more than willing to trust exchanges and online wallet services.

Wasn't MtGox enough of a lesson of what can happen when you give up your private keys?

So true my friend. "If you don't hold your private keys, it's not your bitcoin."

Sad though, I have a feeling that ten years from now, the banks that want to survive will be offering to store customers' bitcoin for them as a service.... and the public will be too scared of their own incompetence and just use it.  

The MSM will probably even have weekly fake news stories about how this person or that person got robbed of all their bitcoin.. to scare people even more into using the banks' services.

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[d_eddie]

So true my friend. "If you don't hold your private keys, it's not your bitcoin."

Sad though, I have a feeling that ten years from now, the banks that want to survive will be offering to store customers' bitcoin for them as a service.... and the public will be too scared of their own incompetence and just use it.  

The MSM will probably even have weekly fake news stories about how this person or that person got robbed of all their bitcoin.. to scare people even more into using the banks.

It will only take half a bank run to falsify that kind of MSM narrative.
Or real interest (denominated in bitcoin) to persuade old bitcoiners.

[fluidjax]

bitcoin gold dump in bitfinex : https://www.bitfinex.com/trading/BTGUSD
probabily price will drop 5 usd when btg listed in all site exchange

How is this possible? BTG lacks a replay protection, so no sane man would currently transfer it's BTG to Bitfinix, because their BTC would be at stake...

Did BFX already credit BTG to BTC holders?

People need to be very careful, they may unwittingly be trading something that is NOT even their BTG. Any fork of Bitcoin could be used at this point, with no way to confirm what it even is... a name means nothing. Don't just blindly trust exchanges.

There is no BTG yet, they simply announced a snapshot date. Its an illusion.

All the exchanges are trading 'tokens' that represent coins.
The exchanges know that they have the coins because they will be in the same address the Bitcoin's were are the time of the fork, but they can't see or use them until they get a proper BTG Node software.

Its a virtual virtual currency

[bitebits]

[...]
I don't care. I don't preach. All I do is explain the technology and its implications for society to those who show genuine interest. Why should I wish unjust rewards on those who clearly don't deserve them? Bitcoin is a revolutionary technology with a promise of changing society to the better. Because it is a monetary technology, those of us with enough vision to see the potential, risk our own money and enough nerve to hold through the FUD, haters, bear markets, hacks and laughter get rewarded. Simple as that. The guy who laughed it off in 2014 and felt he "missed the boat" in 2017 will end up buying some in 2023 together with his gradma.

Hear, hear.

[Chef Ramsay]

[...]
I don't care. I don't preach. All I do is explain the technology and its implications for society to those who show genuine interest. Why should I wish unjust rewards on those who clearly don't deserve them? Bitcoin is a revolutionary technology with a promise of changing society to the better. Because it is a monetary technology, those of us with enough vision to see the potential, risk our own money and enough nerve to hold through the FUD, haters, bear markets, hacks and laughter get rewarded. Simple as that. The guy who laughed it off in 2014 and felt he "missed the boat" in 2017 will end up buying some in 2023 together with his gradma.

Hear, hear.

Damn, I wouldn't slam a door that hard. 

[Ibian]

[...]
I don't care. I don't preach. All I do is explain the technology and its implications for society to those who show genuine interest. Why should I wish unjust rewards on those who clearly don't deserve them? Bitcoin is a revolutionary technology with a promise of changing society to the better. Because it is a monetary technology, those of us with enough vision to see the potential, risk our own money and enough nerve to hold through the FUD, haters, bear markets, hacks and laughter get rewarded. Simple as that. The guy who laughed it off in 2014 and felt he "missed the boat" in 2017 will end up buying some in 2023 together with his gradma.

Hear, hear.

Damn, I wouldn't slam a door that hard. 

Not so much slamming it as no longer trying to push people through it. It's a natural development for newly moneyed people, eventually we realize that not everyone has the required psychology to even want to make a lot of money.

Let those who can see, see. And maybe point out some interesting topography for them. There is no curing the blind.

[Ibian]

Its a virtual virtual currency

That's a fucking mind blower. Is that what going full retard looks like? Cause it looks like going full retard to me.

[barota]

Politicians all say bitcoin is scam 
JPMorgan CEO Jamie Dimon's Then Vladimir Putin Who said Cryptocurrency scam too And this time Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode'

i think bitcoin will crash for sure

[york780]

Is crypto dead yet? Muhh dead muh

[Sitarow]

Politicians all say bitcoin is scam 
JPMorgan CEO Jamie Dimon's Then Vladimir Putin Who said Cryptocurrency scam too And this time Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode'

i think bitcoin will crash for sure

Not sure if being sarcasting or where you get your info. But if your keeping up with the events this past two weeks.

But JPMorgan CEO Jamie Dimon was asked for his view as to why BTC has had a rise and his answer:

"JPMorgan Chase, says he's "not going to talk about bitcoin anymore." ... But I'm not going to talk about bitcoin anymore," said Dimon in response to a question during the bank's third-quarter earnings call with media on Thursday"

"Olga Skorobogatov, deputy chairwoman of Russia’s central bank, hint at a ‘hybrid network’ of both public and private blockchain protocols leading to a unified distributed ledger powering a national digital currency."

[vroom]

Is crypto dead yet? Muhh dead muh

totally. I sold all my stupid coins and invested it in butter. butter is the new bitcoin.

[monsanto]

Still betting that BCH will be the winning tribble 

[Syke]

Wasn't MtGox enough of a lesson of what can happen when you give up your private keys?

I'm still hoping someday there will be a distribution from the bankruptcy estate. Might even get some Bitcoin Cash out of it!

[soullyG]

Watch out folks, there's a rabbit on the loose!

https://www.rt.com/news/407655-bad-rabbit-cryptoware-attack/

A new global cyber virus attack began on Tuesday and targeted corporate networks mainly in Russia, cybersecurity company Kaspersky Lab said. A number of companies in Germany, Turkey and Ukraine have been affected on a smaller scale.
“Our observations show that the majority of the attack’s victims are located in Russia. We’re also registering similar attacks in Ukraine, Turkey and Germany, but on a considerably smaller scale. The malware spreads through a number of compromised websites of Russian media outlets,” the company said in its blog.

The new virus appears to be dubbed ‘BadRabbit,’ according to a dark net page where the details on ransom for the encrypted files were posted. The initial ransom is 0.05 Bitcoin ($300), but the virus features a timer and promises to raise the price if the ransom is not paid in time.

[gentlemand]

Politicians all say bitcoin is scam 
JPMorgan CEO Jamie Dimon's Then Vladimir Putin Who said Cryptocurrency scam too And this time Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode'

i think bitcoin will crash for sure

Your posts are genuinely terrifying. How much do you need to be paid to stop scaring me? I can't sleep at night with these insights and screeds of compelling evidence.

[baronious]

Politicians all say bitcoin is scam 
JPMorgan CEO Jamie Dimon's Then Vladimir Putin Who said Cryptocurrency scam too And this time Saudi Prince Al-Waleed: Bitcoin Is 'Going to Implode'

i think bitcoin will crash for sure

When did Putin ever say that cryptocurrencies were scam?  Stop spreading false info.

[gwoplock]

Wasn't MtGox enough of a lesson of what can happen when you give up your private keys?

I'm still hoping someday there will be a distribution from the bankruptcy estate. Might even get some Bitcoin Cash out of it!

Unfortunately I don't think we will ever see a distribution and if there was, I don't think it will be in BTC. It will be in cash.

[JayJuanGee]

All this talk about people & Bitcoin...

Over the years I have dealt with so many people asking about Bitcoin. It's uncanny how exactly alike all their thought processes are:

2013: wtf is this shit, it's a bubble, nerd money, governments will destroy it, it doesn't have any value because it's not regulated/controlled. It's too late to buy now anyway.
2014: told you it was crap nobody cares
2015: *crickets*
2016: I wish I bought Bitcoin a year ago. You are so lucky!! Now it's too late for me.
2017: I wish I bought Bitcoin a year ago. You are so lucky. Now it's too expensive for me. I realize I can buy just a fraction but my ego doesn't allow me to be content with just a fraction of an arbitrary numerical division of the thing. But have you heard about Ethereum? Or Shitcoin xyz? Someone said it's the next Bitcoin and it has been going up and I can actually afford to buy one! *proceeds to not buy anything*
2018: I wish I bought Bitcoin a year ago...

I don't care. I don't preach. All I do is explain the technology and its implications for society to those who show genuine interest. Why should I wish unjust rewards on those who clearly don't deserve them? Bitcoin is a revolutionary technology with a promise of changing society to the better. Because it is a monetary technology, those of us with enough vision to see the potential, risk our own money and enough nerve to hold through the FUD, haters, bear markets, hacks and laughter get rewarded. Simple as that. The guy who laughed it off in 2014 and felt he "missed the boat" in 2017 will end up buying some in 2023 together with his gradma.

Your post is simply genius, ErisDiscordia.  Thanks for that summary of what is likely a common experience of those of us who have been in since 2013/2014...   

[monsanto]

Wasn't MtGox enough of a lesson of what can happen when you give up your private keys?

I'm still hoping someday there will be a distribution from the bankruptcy estate. Might even get some Bitcoin Cash out of it!

Unfortunately I don't think we will ever see a distribution and if there was, I don't think it will be in BTC. It will be in cash.

Last I saw the payout was expected to be less than 1/10th of current evaluation (~$500/btc)... hell BCH might be worth more than gox coins by the time they distribute them.

[JayJuanGee]

People need to be very careful, they may unwittingly be trading something that is NOT even their BTG. Any fork of Bitcoin could be used at this point, with no way to confirm what it even is... a name means nothing. Don't just blindly trust exchanges.

You're probably wasting your breath. It doesn't matter how often you tell trading addicts to keep their coins safely away from exchanges.

That's one of the basic differences between Bitcoiners and traders. The very first paragraph of Satoshi's white paper points to trustlessness as the raison d'etre for Bitcoin. Traders are more than willing to trust exchanges and online wallet services.

Wasn't MtGox enough of a lesson of what can happen when you give up your private keys?

Whoaza, Jimbo...   You seem to be in a good mood today, and seemingly wanting to jump into a "bitcoiners" versus "traders" whereby you are a bitcoiner in this battle, right?   

Nice to see you in such a rambunctious mood today.