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

[BitcoinNewsMagazine]

Food for thought: you are going to see vendors start switching from taking bitcoin to litecoin. The average fee today for a bitcoin transaction was $21. For litecoin 27 cents. Vendors are getting stuck bitcoin transactions and are no longer willing to deal with it. Why do you think the price of litecoin is going through the roof?

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[Toxic2040]

So a recap of ... -snip-

Summary: we prefer litecoin and/ or high fees to centralized, hijacking b-cash.

qft..excited for the coming year.

[jojo69]

Its more than a bitcoin bubble now. Its a blockchain bubble. Its going to end up taking down a portion of the economy.

portion??

Bitcoin is not the bubble...it is the pin.

[HairyMaclairy]

Its more than a bitcoin bubble now. Its a blockchain bubble. Its going to end up taking down a portion of the economy.

It’s going to have to be about 1,000 times it’s current size to do that.  And I’m all for that.

[JimboToronto]

Bitcoin is not the bubble...it is the pin.

Couldn't have said it better.

 

[arklan]

*grumbling under his breath* stupid futures and their stupid... Whatever they do... Stupid price dropping... Dumb bitcoin, going thy wrong way...


(to be clear, i'm not serious in any manner. Just wondering whats driven stamp down below 16k. And annoyed that my list buy was at 16740 or something...)

[TERA2]

I dont get why you have such romantic ideas. Theyre not going to happen because 99%+ of people are fine with fiat and arent going to become criminal engineers and hackers to particiapte in an illegal bitcoin revolt.

[Heater]

This guy gets it:

https://www.youtube.com/watch?v=ukjDCeuNK3Y

Also:
https://twitter.com/saifedean

Most people who buy Bitcoin don't share its political vision; they buy it to get rich. But Bitcoin doesn't care, they are fueling its rise as a monetary standard. Bitcoin doesn't need your intellectual acceptance; your self-interest will force you to use it sooner or later.

For hodlers, getting rich is a secondary side effect of doing the right thing: getting the world onto an infinitely better monetary standard & killing government money.

A new hero.

[Wekkel]

A better form of money. The simplest answer to the question what Bitcoin is.

[HairyMaclairy]

A better form of money. The simplest answer to the question what Bitcoin is.

Gresham’s law:  https://en.wikipedia.org/wiki/Gresham's_law

Bitcoin is good money because it can’t be inflated away.

[TERA2]

It would be good money if it somehow stabilized AND the lightning network was up.

[jojo69]

I dont get why you have such romantic ideas.

Because we have no choice TERA.

It HAS to change.

[Wekkel]

It would be good money if it somehow stabilized AND the lightning network was up.

With enough adoption it will stabilise.

[jbreher]

Wood is more scarce than gold and silver is space...

There's a space pill for that now.

zing!

Food for thought: you are going to see vendors start switching from taking bitcoin to litecoin.

Said no vendor ever.

The average fee today for a bitcoin transaction was $21. For litecoin 27 cents. Vendors are getting stuck bitcoin transactions and are no longer willing to deal with it.

Meanwhile, cost on Bitcoin Cash? Less than two pennies. Plus its being discussed on national financial news. Litecoin? Not so much.

Why do you think the price of litecoin is going through the roof?

<s> obviously because newcomers to crypto are flocking to it </s>

Random Youtube link

Is everyone else faced with a promo for Altucher every time you navigate to YouTube? It's driving me batty. Grr.

[RoomBot]

Interesting events at this near ATH 2.0.

COINBASE is down for scheduled maintenance.

I wonder if they're finally populating their exploited customers' bcrash wallets at last?

I'm expecting HUUUUGE -- Trump-like BIGLY dumping of btrash and another bump for our beloved BTC when that happens.

And a major bcrash.

SH!t happens when you're a sh!tcoin wannabe Satoshi-defying clone..... Just sayin.'

[JimboToronto]

This guy gets it:

https://www.youtube.com/watch?v=ukjDCeuNK3Y

Also:
https://twitter.com/saifedean

Most people who buy Bitcoin don't share its political vision; they buy it to get rich. But Bitcoin doesn't care, they are fueling its rise as a monetary standard. Bitcoin doesn't need your intellectual acceptance; your self-interest will force you to use it sooner or later.

For hodlers, getting rich is a secondary side effect of doing the right thing: getting the world onto an infinitely better monetary standard & killing government money.

A new hero.

Indeed. He really seems to understand. Thanks for the link.
__________

When I first learned about Bitcoin it was its decentralization and the disruptive nature of its technology that fascinated me.

When I first heard of Napster, it wasn't the free music that primarily interested me, it was the concept of peer-to-peer networking and filesharing. I then watched the gradual decentralization as it evolved through Gnutella/Kazaa on to Bittorrent and then magnetlinks. I saw the Piratebay move to redundant virtual servers in the cloud.

I loved the evolution of Wikipedia from a sketchy mishmash of articles posted by biased individuals to a peer-reviewed trustworthy source of information. Wikipedia itself may be centralized but its content is decentralized, vetted by a worldwide community of volunteers. Every side of every story gets heard. It's up to the individual to decide what's BS and what's not.

When a friend first told me about the Silk Road, it wasn't the access to contraband that interested me, it was this revolutionary p2p decentralized open-source money that grabbed me. It was a mind-blowing moment. What the internet itself was to information, Bitcoin could be to wealth. It was obviously a big part of the real New World Order, in which power moved from churches, governments and other corporations, and into the hands of decentralized global communities of individual volunteers.

Marshall Mcluhan was right. The global village has become reality.
__________

I didn't get involved in Bitcoin to acquire wealth. I bought mining hardware before I ever bought coins.

The wealth I eventually acquired from Bitcoin was strictly a byproduct of wanting to do something good for the world.

[JayJuanGee]

A double top was only the top of the China bubble in late 2013. Every other bubble had a single top.

O.k.    Seems like I am receiving training regarding the anatomy of a bubble, and bubble trouble.


What do you call it when a Tera Bera calls a bubble since around $2.5k... ?




hahahahaha


I am giving Tera Beara some benefit of the doubt because she was absent for over a year, so she was not calling a btc bubble between about $250 and $2.5k like a lot of the other various chicken littles, who seemed to end up being wrong.

So possibly part of the less on is that you cannot really know what is a bubble, until it pops, right, and not until quite a while after the fact.  So, surely, if you keep calling a bubble, sooner or later you are going to be correct; however, you don't really become a smartie pants, just because you ended up getting it right.. because as long as you keep calling it, you are gonna be right at some point, whether that is now in the $16k to $17k territory or whether that is in the $35k territory, or the $100k territory - yet if it pops at $100k, then at some point prior to $100k, you are not really very convincing if you have been calling it since $250 or $2,500.

amirite?

[404Revolution]

Food for thought: you are going to see vendors start switching from taking bitcoin to litecoin. The average fee today for a bitcoin transaction was $21. For litecoin 27 cents. Vendors are getting stuck bitcoin transactions and are no longer willing to deal with it. Why do you think the price of litecoin is going through the roof?

Litecoin is a junk fork, its only use is salvaging your money from bitfinex and ripping off people.

[TERA2]

A double top was only the top of the China bubble in late 2013. Every other bubble had a single top.

O.k.    Seems like I am receiving training regarding the anatomy of a bubble, and bubble trouble.


What do you call it when a Tera Bera calls a bubble since around $2.5k... ?




hahahahaha


I am giving Tera Beara some benefit of the doubt because she was absent for over a year, so she was not calling a btc bubble between about $250 and $2.5k like a lot of the other various chicken littles, who seemed to end up being wrong.

So possibly part of the less on is that you cannot really know what is a bubble, until it pops, right, and not until quite a while after the fact.  So, surely, if you keep calling a bubble, sooner or later you are going to be correct; however, you don't really become a smartie pants, just because you ended up getting it right.. because as long as you keep calling it, you are gonna be right at some point, whether that is now in the $16k to $17k territory or whether that is in the $35k territory, or the $100k territory - yet if it pops at $100k, then at some point prior to $100k, you are not really very convincing if you have been calling it since $250 or $2,500.

amirite?

Here is a quote of me saying btc was a good buy when it was 2.5K

Good time for bitcoin that has only gained 120% in a modest grwoth rally.

Terrible time for Ethereum that is up 5,000% in a crazy bubble.

Dont pull things out of your ass to create drama. I didnt start calling corrections until at least 8K when I created this account in Nov 7.

[Searing]

Food for thought: you are going to see vendors start switching from taking bitcoin to litecoin. The average fee today for a bitcoin transaction was $21. For litecoin 27 cents. Vendors are getting stuck bitcoin transactions and are no longer willing to deal with it. Why do you think the price of litecoin is going through the roof?

Litecoin is a junk fork, its only use is salvaging your money from bitfinex and ripping off people.

transaction fees ...the huge diff in transaction fees...moving BTC to and fro...vs LTC to an fro

IN that currently, LTC is faster and has all the hooks of the current seg witness etc that BTC has

gonna be hard to ignore LTC for purchases vs BTC if this price of LTC holds or grows

just saying,