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

[HairyMaclairy]

Bitcoin isn't a stock. You all are missing the big picture. This is mainstream adoption.

It’s not a shitty precious metal either that you can shovel out of the ground as soon as the price rises.  I don’t think you guys realize how many shuttered gold mines there are around the world that can just be turned on with the flick of a switch.

The reason PMs sit at close to their cost of production isn’t a Jewish conspiracy.  It’s because there are mines whose operating costs are just above the current market price that are temporarily non-operational that will flood the market with any uptick.  And that’s not counting planned major expansions of existing mines that are just waiting on a business case.  Anyone hoping for long term CG from gold clearly doesn’t understand how modern mining works.

Historically gold was a store of value due to inelasticity of supply. Modern mining technology has flipped that on its head and made supply highly elastic.   So we need to find a new commodity with an inelastic supply to act as our store of value.   I wonder what that might be?

[1714490886]

1714490886

[1714490886]

1714490886

[luckygenough56]

if it was mainstream adoption already, we couldn't be able to send a single tx given the state of things

[HairyMaclairy]

if it was mainstream adoption already, we couldn't be able to send a single tx given the state of things

Well said.  We are still a 1000 times short of mainstream adoption.  And thats good because LN has only just started beta testing. 

[Wekkel]

Near ATH and nobody cares. That means only one thing: $50k and beyond 

[GHCoins45]

I'm wondering (I have no idea where to search for this), the new money that are now in LTC come from BTC, or those are fiat money?

[OWZ1337]

Near ATH and nobody cares. That means only one thing: $50k and beyond 

$100,000 everyone is saying around the watercooler :-D weeeee

[jojo69]

public service announcement

https://hackaday.com/2017/12/11/what-you-need-to-know-about-the-intel-management-engine/#more-285225

keep your eye on the ball kids

[Meuh6879]

Historic Ironie ?

[explorer]

public service announcement

https://hackaday.com/2017/12/11/what-you-need-to-know-about-the-intel-management-engine/#more-285225

keep your eye on the ball kids

https://puri.sm/posts/purism-librem-laptops-completely-disable-intel-management-engine/

https://puri.sm/posts/deep-dive-into-intel-me-disablement/

[pfrtlpfmpf]

This is why no matter how much shilling people do for cryptocurrency, the game is already over and metals won.

The r0ach report 26: Why it's 100% inevitable metals defeat bitcoin no matter how many shills try to pump cryptocurrency

http://steemit.com/money/@r0achtheunsavory/the-r0ach-report-26-why-it-s-100-inevitable-metals-defeat-bitcoin-no-matter-how-many-shills-try-to-pump-cryptocurrency

You´re funny and add colour to this thread, thank you rOach !
Guys, you don´t have to like him, but you have to respect him.
(rOach, when do i get my new keyboard, which you owe me ? )

[Dakustaking76]

I'm wondering (I have no idea where to search for this), the new money that are now in LTC come from BTC, or those are fiat money?

Yes its turning ltc right up to new levels..

[RayX12]

Bitcoin isn't a stock. You all are missing the big picture. This is mainstream adoption.

Although many have heard of Bitcoin, the last man/woman/gender-neutral is not in. Not by a long shot.

confirmed

[RayX12]

I'm wondering (I have no idea where to search for this), the new money that are now in LTC come from BTC, or those are fiat money?

Yes its turning ltc right up to new levels..

ltc will correct now.

[LewisPirenne]

I'm wondering (I have no idea where to search for this), the new money that are now in LTC come from BTC, or those are fiat money?

Just look at the trading volume.  On GDAX, the main driver of recent LTC move, LTC $volume is 600 mio+, almost the same as BTC volume (700 mio+).  So it's just the newcomers who went thru the same stage that we all went thru years ago, i.e. BTC is too expensive, you can get bigger percentage gain for less money on smaller marketcap coin, etc..  It takes a while for people to finally see which coins has real value in the end, and it's not the ALT.  Heck, I went thru that stage myself in late 2012 and even mined a 50 LTC block with a crappy HP biz notebook.  

[realr0ach]

It’s not a shitty precious metal either that you can shovel out of the ground as soon as the price rises.

It looks like you have no understanding of the energy industry.  The only reason there was an enormous amount of metals being mined in the 20th century compared to all previous ones is because it was just a process of arbing excess energy that wasn't vital to keep nations running.  But now the energy industry as a whole has virtually given up funding to find new sources (maybe because they already took just about every low hanging fruit possible).  We are entering something resembling a Seneca cliff in the oil industry.

The only reason oil is plentiful right now in the US (and thus the price is low) is because enormous amounts of production increased lately that's almost entirely low grade shale/tar sand type stuff.  These alternative oil sources that are coming to market aren't even being done so at a profit.  They are losing money doing so.  How does it continue then?  There's lots of bad investment in the energy sector that has not toppled down and collapsed yet, but will because they are not making profits.  Or you can take the conspiracy route and think the US govt just prints money and gives it to them to subsidize the energy industry so it doesn't collapse (which is also possible since corporate welfare happens all the time).

Regardless, the era of having endless amounts of excess oil and energy to arb into bringing metals out of the ground is mostly over.  There will either be energy shortages from a Seneca cliff and no metals coming out of the ground, or energy prices will go to the moon, and since the price of oil makes up the vast majority of metals prices, metals go with them.  Here's a good chart to show the correlation of oil and metals.  Due to the bankers constantly naked shorting metals down to cost of production to try and suppress them and prop up the dollar, they act mostly as an energy futures contract until the global banker monopoly fix ends:

[OWZ1337]

It’s not a shitty precious metal either that you can shovel out of the ground as soon as the price rises.

It looks like you have no understanding of the energy industry.  The only reason there was an enormous amount of metals being mined in the 20th century compared to all previous ones is because it was just a process of arbing excess energy that wasn't vital to keep nations running.  But now the energy industry as a whole has virtually given up funding to find new sources (maybe because they already took just about every low hanging fruit possible).  We are entering something resembling a Seneca cliff in the oil industry.

The only reason oil is plentiful right now in the US (and thus the price is low) is because enormous amounts of production increased lately that's almost entirely low grade shale/tar sand type stuff.  These alternative oil sources that are coming to market aren't even being done so at a profit.  They are losing money doing so.  How does it continue then?  There's lots of bad investment in the energy sector that has not toppled down and collapsed yet, but will because they are not making profits.  Or you can take the conspiracy route and think the US govt just prints money and gives it to them to subsidize the energy industry so it doesn't collapse (which is also possible since corporate welfare happens all the time).

Regardless, the era of having endless amounts of excess oil and energy to arb into bringing metals out of the ground is mostly over.  There will either be energy shortages from a Seneca cliff and no metals coming out of the ground, or energy prices will go to the moon, and since the price of oil makes up the vast majority of metals prices, metals go with them.  Here's a good chart to show the correlation of oil and metals.  Due to the bankers constantly naked shorting metals down to cost of production to try and suppress them and prop up the dollar, they act mostly as an energy futures contract until the global banker monopoly fix ends:

while i steal natural gas from the center of the earth to power my asics ~ iceland is mostly vikingzzz ha

[Rosewater Foundation]

Did we just double top? Isn't that bad?

[d_eddie]

Did we just double top? Isn't that bad?

It looks like sideways-downward. A small dip incoming maybe? Ready for reasonably priced corn (not really cheap, it seems).

[Rosewater Foundation]

Did we just double top? Isn't that bad?

It looks like sideways-downward. A small dip incoming maybe? Ready for reasonably priced corn (not really cheap, it seems).

IDK. Setting up a digital corn wallet is such a technical burden. I may have to call a teenager.

[ragnar0k]

It’s not a shitty precious metal either that you can shovel out of the ground as soon as the price rises.

It looks like you have no understanding of the energy industry.  The only reason there was an enormous amount of metals being mined in the 20th century compared to all previous ones is because it was just a process of arbing excess energy that wasn't vital to keep nations running.  But now the energy industry as a whole has virtually given up funding to find new sources (maybe because they already took just about every low hanging fruit possible).  We are entering something resembling a Seneca cliff in the oil industry.

The only reason oil is plentiful right now in the US (and thus the price is low) is because enormous amounts of production increased lately that's almost entirely low grade shale/tar sand type stuff.  These alternative oil sources that are coming to market aren't even being done so at a profit.  They are losing money doing so.  How does it continue then?  There's lots of bad investment in the energy sector that has not toppled down and collapsed yet, but will because they are not making profits.  Or you can take the conspiracy route and think the US govt just prints money and gives it to them to subsidize the energy industry so it doesn't collapse (which is also possible since corporate welfare happens all the time).

Regardless, the era of having endless amounts of excess oil and energy to arb into bringing metals out of the ground is mostly over.  There will either be energy shortages from a Seneca cliff and no metals coming out of the ground, or energy prices will go to the moon, and since the price of oil makes up the vast majority of metals prices, metals go with them.  Here's a good chart to show the correlation of oil and metals.  Due to the bankers constantly naked shorting metals down to cost of production to try and suppress them and prop up the dollar, they act mostly as an energy futures contract until the global banker monopoly fix ends:

I am sure silver and gold will be worth a lot once Elon (or Virgin?) will make civilian space ships. I mean, gold and silver are so scarce in space.