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

[gentlemand]

Decentralization and creator anonymity is basically what makes bitcoin valuable. But trying to get peoples minds around that...

People have to value freedom in order to understand why the above is valuable. And a lot of people simply don't.

Among many other things, the factor I hardly ever see mentioned though maybe it's too obvious, is that it came from literally nothing with no nefarious or greedy intentions.

There was no premine, no ICO, no hidden stashes, no back doors, no hype, no prior knowledge of what it would become, no real strategy other than sending it out into the world and seeing what happened.

It's easy to forget that but it can never, ever be repeated. The birth of coins such as LTC are similar in their lack of disgustingness but that absolute purity can't happen again.

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[realr0ach]

The birth of coins such as LTC are similar in their lack of disgustingness but that absolute purity can't happen again.

This is actually completely wrong as most BTC old-timers claim LTC was some type of Artforz hidden miner scam.

[JimboToronto]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

Got into the eye doc today.  Been putting it off for years.  Paid cash.  Feels good man!

The ability to just... pay for almost literally anything like it was nothing is liberating. Getting a new apartment now that I'm independently wealthy (at 35! how crazy is that!). Up front payment is $5k. Don't care, it's no big deal.

I'm having a hard fucking time adjusting.

I'm planning on doing a little dental tourism myself in January. I've found a very highly recommended high-tech clinic in Mexico, near where I'm planning on buying some property with Bitcoin.

When I go for my assessment/estimate, I'll see if they'll accept payment in Bitcoin as well. I can get full implants for a small fraction of what I'd pay in Toronto.  

With what I earned in Bitcoin this year, I think I owe myself a full set of Hollywood teeth. If I ever need repairs, I'll be able to stay at my own tropical retreat.

Yes, financial independence takes some getting used to and I'm trying to avoid becoming extravagant but health is perhaps our greatest treasure, with only friendship even close.

The secret is to be frugal in one's extravagance.

[Icygreen]

I'm pretty sure Jeff's OD'ed on the red pills. He's been shilling for gold the last few weeks encouraging us to use BTC profits and now this. https://steemit.com/bitcoin/@dollarvigilante/the-globalist-plan-to-blame-bitcoin-for-biblical-level-collapse-in-2018
And I like contemplating conspiracy but this might be over the top even for me (and torque?) 

[vapourminer]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

just buy a dental practice and the staff to keep it open for you 24/7.

[bitserve]

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

Yes, that's not an exception but the norm now. They are all asking for advice on what new coins would be good investing. As always the keep thinking Bitcoin is "too expensive" now (no matter what the price level is at that moment). They all want to invest in a coin that is "so cheap now as Bitcoin was" and that could rise "as much as Bitcoin did". WTF?

I even received a call from an old friend that started in Bitcoin at the same time as me, early 2013 just before the bubble. He had bought 20 Bitcoins in a single purchase of around 1000€, but sold it in like a month or so after -at almost no profit- and never looked back.

Now he asks me for good coins worth investing. Funny thing is that when we started he was saying things like "one single Bitcoin could be worth nothing or a million in the future"... yet he sold a month after? I was more conservative in my expectations and here I am, not rich... but doing well.

There's also another one I introduced to crypto one month ago. Contrary to my advice he started with like 15K and bet it all on that Iota shitcoin. No matter I told him I would not touch that shit even with a mile long pole and that it was a broken coin that doesn't even work nor delivers what is suppossed to do in its whitepaper (where's that microcontrollers code?).

A few days later he was sitting on more than 50K because that shitcoin pumped for no apparent reason. Glad for him but proof of the madness it is happening now in crypto space. Now he only wants to keep doing alts. I suggested Litecoin and Monero. At least he followed that advice and also scored on it big time. Double combo it seems... without having any fucking idea of what he's doing (as he recognizes himself).

To add more madness to this situation.... he still keeps everything on BITFINEX. I have informed him the risks of that but, while he has already bought a hardware wallet, he is not using it yet.

I think this is pretty much what is happening right now in crypto space. Well, we wanted mainstream adoption and this is what we get and how it looks. Not sure if good or bad... but that's how it looks like.

[gentlemand]

https://www.cnbc.com/2017/12/12/novogratz-says-he-would-sell-litecoin-after-its-massive-surge.html

Cool interview.

[Gab0]

What if the decimal place was moved in bitcoin to give a 1:1000 split? If collectively everyone used the term bitcoin for the unit of value we currently call a millibit or mBTC making the total eventual supply 21 billion instead of 21 million, the price currently would be ~$16.70.

It seems to me that the problem of switching to a smaller unit at the moment is that the fees would be more expensive than the same unit of account. 

[Torque]

same here, GF's dad, good guy, got taken to the cleaners in the .com bubble and is hot to recoup

told him the same thing, wait for a good dip on BTC, same reaction, "but what's the next big thing?"  

He is a really sweet dude, has enough imagination to enjoy our good fortune vicariously, called the other day to congratulate us on a certain milestone 

These people just don't get it. Bitcoin is not a thing to make fiat money from. It's what you trade your worthless fiat for. Because it is simply better money. And the Bitcoin network IS the killer app.

IT. IS. THE. NEXT. BIG. THING.

[Rosewater Foundation]

https://www.cnbc.com/2017/12/12/novogratz-says-he-would-sell-litecoin-after-its-massive-surge.html

Cool interview.

OMG. This is surreal. I had no idea.

[lightfoot]

Ok, Litecoin has just surpassed bitcoin for the 24 hour total dollar volume on worldcoinindex.com

We are officially fucking nuts.

People are tired of $20 transaction fees and vendors of stuck bitcoin transactions. Average litecoin fee is under 50 cents. If I were selling on the marketplace I would be accepting litecoin only right now until LN is working well.

Genius

That's pretty much why I take LTC for payment. Still weird to see it happening.

[fabiorem]

I'm pretty sure Jeff's OD'ed on the red pills. He's been shilling for gold the last few weeks encouraging us to use BTC profits and now this. https://steemit.com/bitcoin/@dollarvigilante/the-globalist-plan-to-blame-bitcoin-for-biblical-level-collapse-in-2018
And I like contemplating conspiracy but this might be over the top even for me (and torque?) 

https://www.quora.com/Which-hedge-funds-are-trading-Bitcoin

[Torque]

I'm pretty sure Jeff's OD'ed on the red pills. He's been shilling for gold the last few weeks encouraging us to use BTC profits and now this. https://steemit.com/bitcoin/@dollarvigilante/the-globalist-plan-to-blame-bitcoin-for-biblical-level-collapse-in-2018
And I like contemplating conspiracy but this might be over the top even for me (and torque?)  

Last year I occasionally tuned into a couple of Jeff's Berwick's videos and podcasts. He's pro-Bitcoin and hates the establishment. Like most people, I genuinely liked Jeff's personality and thought he seemed like a nice, honest and straight up guy.

That was until I watched these videos.

https://www.youtube.com/watch?v=_pXlHrQ6GNM

https://www.youtube.com/watch?v=v4DW5QOrppU

From what can be seen on those vids, that guy Jeff is a drunk, druggie, liar, and straight up scammer. A con man. He hides it well.

[lightfoot]

Had a very interesting discussion with a friend who is a financial advisor. I ordered him to buy some bitcoin end of last year and he did and he took me out to dinner as a very small thanks.

Very interesting discussion on the concept of money, digital immigrants, the concept of nation states, and such. Fascinating. But the basic thought that a global currency that can't be manipulated by banks or nations is one that when certain people in the club wake up and think about it are not going to like it much.

Then again it could be like the euro. I'm still thinking about this one, will be for the next few weeks.

Hm.

[bitserve]

What if the decimal place was moved in bitcoin to give a 1:1000 split? If collectively everyone used the term bitcoin for the unit of value we currently call a millibit or mBTC making the total eventual supply 21 billion instead of 21 million, the price currently would be ~$16.70.

It seems to me that the problem of switching to a smaller unit at the moment is that the fees would be more expensive than the same unit of account. 

And more importantly it would be a mess coordinating the change in all the exchanges and... now that Bitcoin it is so mainstream how to explain the MSM that Bitcoin has gone from $17000 to $17?

A mess.... even an almost unknown coin such as Byteball, which would greatly benefit of that change, would have difficulties doing it. Bitcoin? Forget it.

We can keep doing forks as some sort of stock split though

[gentlemand]

And more importantly it would be a mess coordinating the change in all the exchanges and... now that Bitcoin it is so mainstream how to explain the MSM that Bitcoin has gone from $17000 to $17?

A mess.... even an almost unknown coin such as Byteball, which would greatly benefit of that change, would have difficulties doing it. Bitcoin? Forget it.

We can keep doing forks as some sort of stock split though

It's staggeringly too late now. It should've happened in 2009 after a bit of thinking about where it might head once it was up and actually running and about thirty people needed persuading.

[bitserve]

Had a very interesting discussion with a friend who is a financial advisor. I ordered him to buy some bitcoin end of last year and he did and he took me out to dinner as a very small thanks.

Very interesting discussion on the concept of money, digital immigrants, the concept of nation states, and such. Fascinating. But the basic thought that a global currency that can't be manipulated by banks or nations is one that when certain people in the club wake up and think about it are not going to like it much.

Then again it could be like the euro. I'm still thinking about this one, will be for the next few weeks.

Hm.

The problem, IMHO, is that in order to maintain stability, growth and social order states NEED to control and somewhat manipulate economy. And they can do that by controlling currency or via taxes. For some reason, population doesn't like taxes so it is easier to manipulate currency which most people doesn't notice.

In world with a really decentralized currency (if that is ever possible) expect CRAZY changes in taxation.

[Rosewater Foundation]

Futures price just under Wall Observer post count parity. Coincidence? Or are we really the center of the Bitcoin universe?

[jojo69]

Futures price just under Wall Observer post count parity. Coincidence? Or are we really the center of the Bitcoin universe?

as it always has been

it is the natural order of things

[xhomerx10]

Pullback. I blame futures.

Just wait till those altcoins start pulling back and all this money flows back into BTCitcoin 

We're up 200% in a month while still climbing. Give the badger some rest, let the alts have their fun and in a while big mr b will wake up again.

 Actually,  there was a dip in that month...  So while it's up over the last 30 days,  we're covering some old ground and percentages are deceiving.