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

[ragnar0k]

as long as the network congestion/high-fees aren't resolved, bitcoin will not move anywhere - currently ripple does up to 1500tx/s with low-fees
btc and eth are currently mostly gateway coins
premined does not mean "not decentralized", IOTA and Cardano have interesting concepts
let alone the fact that botcoin and his brother buttcoin are also centralized through China-SHA256 and extremly resource hungry
who do you think will own the master-nodes for LN?  

the problem is the distribution of the coins for the premined projects, i guess the creators have the most, but that is also a problem with btc and early adopters

currently btc can't cope with much more new users - a price of 50k$ is not justified
will you pay 100$ transaction fee? - i wanted to buy some cardano and converted my btc to eth before transaction

inb4 ripple shiller: i sold my stash at 20ct  

Ripple is a company run by few individuals with unlimited cap and blah blah. I dont know of anybody mining ripple... It is just like a tokenized visa, makes little sense to me

[Dabs]

A few months ago I helped a friend setup a Kraken account to buy some BTC. This guy is completely tech-/crypto-illiterate. To him, Bitcoin, Ripple, Stellar, DOGE, are all equivalent.

A few weeks later he told me that BTC was too expensive for him to buy (a common newbie reaction). I explained to him that 1 BTC = 1000 mBTC, etc., so even 0.1 BTC is still a good investment. He ignored my advice. Using common sense, he concluded that the only chance he has to quickly multiply his investment would be to buy cheaper altcoins, because, according to his thinking, if they're cheap they have the potential to grow much faster and much more than BTC.

He bought a few altcoins. No BTC. His two biggest purchases were 10000 Ripple and 10000 Stellar Lumens. He paid about 2000 € for both purchases.

Today, his crypto stash is valued in excess of 30000 € (a 15x gain), with the majority of the gains coming from XRP and XLM. All this in just 4 months! Had he followed my advice, he would have less than 1/4 of what he has now...

I told him that he should consider buying some BTC, but he's blinded by his unexpected gains and is now determined to ride the Ripple/Stellar wave until the end. I just hope he won't be disappointed when the trend reverses and the bank-coins start losing value (or BTC does a 10x again this year)...

He's not wrong, but it would be good to be able to quickly trade his gains back into BTC.

I do alts too, but in the end you need to either get back into BTC or into fiat, if there is a direct exchange for Ripple/USD or Stellar/USD.

There are tons of small altcoin only exchanges that don't ask for any info other an email address.

[Neo_Coin]

[xhomerx10]

I think you're friend was actually right that btc was too expensive though . how ironic

 The irony must be so subtle that I can't see it.  We're not talking "The Gift of the Magi" ironic here; I think it's more a case of shit luck.  The exchange AlcoHoDL set up his friend on just happened to have the mix of the alts that would prove to do well and only those alts in fact.

What's ironic is that AlcoHoDL calls this person friend yet sets them up on Kraken.  Friends don't let friends do Kraken.

Thankfully it all worked out.

[TERA2]

Everyone here dogs me about my bitcoin calls being off 20% or whatever. Meanwhile they stick their heads in the sand about altcoins as they rise tens of thousands of percents.

[xhomerx10]

as long as the network congestion/high-fees aren't resolved, bitcoin will not move anywhere - currently ripple does up to 1500tx/s with low-fees
btc and eth are currently mostly gateway coins
premined does not mean "not decentralized", IOTA and Cardano have interesting concepts
let alone the fact that botcoin and his brother buttcoin are also centralized through China-SHA256 and extremly resource hungry
who do you think will own the master-nodes for LN?  

the problem is the distribution of the coins for the premined projects, i guess the creators have the most, but that is also a problem with btc and early adopters

currently btc can't cope with much more new users - a price of 50k$ is not justified
will you pay 100$ transaction fee? - i wanted to buy some cardano and converted my btc to eth before transaction

inb4 ripple shiller: i sold my stash at 20ct  

Ripple is a company run by few individuals with unlimited cap and blah blah. I dont know of anybody mining ripple... It is just like a tokenized visa, makes little sense to me

 Ripple cannot be mined and if anybody tells you differently, they're trying to rip_ple you off.

[xhomerx10]

Everyone here dogs me about my bitcoin calls being off 20% or whatever. Meanwhile they stick their heads in the sand about altcoins as they rise tens of thousands of percents.

 There are thousands of other options - which ones should we buy thousands of?

[AlexGR]

as long as the network congestion/high-fees aren't resolved, bitcoin will not move anywhere - currently ripple does up to 1500tx/s with low-fees

Centralized solutions like Ripple aren't a novelty. They exist for hundreds of years. You might as well buy bank shares. Actually even banks may be more legit because it's the central banks creating the money - not the commercial ones. In Ripple, they can literally create virtual tokens out of thin air and sell them. And they have done it.

The "gimped coin", "btc is going nowhere" due to high fees, were being repeated since btc was at 200-300$ and fees were 3 cents...

[ragnar0k]

as long as the network congestion/high-fees aren't resolved, bitcoin will not move anywhere - currently ripple does up to 1500tx/s with low-fees
btc and eth are currently mostly gateway coins
premined does not mean "not decentralized", IOTA and Cardano have interesting concepts
let alone the fact that botcoin and his brother buttcoin are also centralized through China-SHA256 and extremly resource hungry
who do you think will own the master-nodes for LN?  

the problem is the distribution of the coins for the premined projects, i guess the creators have the most, but that is also a problem with btc and early adopters

currently btc can't cope with much more new users - a price of 50k$ is not justified
will you pay 100$ transaction fee? - i wanted to buy some cardano and converted my btc to eth before transaction

inb4 ripple shiller: i sold my stash at 20ct  

Ripple is a company run by few individuals with unlimited cap and blah blah. I dont know of anybody mining ripple... It is just like a tokenized visa, makes little sense to me

 Ripple cannot be mined and if anybody tells you differently, they're trying to rip_ple you off.

So how the hell are transactions validated? Seems to me like it is just a public db

[Gab0]

Good thing I didn't sell my shitcoins.

Another good thing is that maybe now Wu and Ver are realizing what they did?

AFAIK, there's NO mining on most of those shitcoins.

Yeah they fucked it, no doubt about it.

they won't realize shit, sociopaths never admit they fucked up.

And again, a sheep with the same invariable bleat.
Bitcoin will always have enemies, be they people, companies, or governments. And the enemies will always attack exploiting the weaknesses of bitcoin. Does it have any merit to blame enemies to exploit our weaknesses? No, it's just like the cry of an impotent baby.
We have problems, we have to accept it, and they are not the fault of our enemies, they simply tell us where we have to work.

[Neo_Coin]

[TERA2]

No matter how sophisticated this technology becomes, the world is still ultimately controlled by guns and blades.

[Meuh6879]

secure the money = secure the ... justice.
no money = no justice.


justice is a part of the individual security.

[Paashaas]

Finally!

[Karartma1]

secure the money = secure the ... justice.
no money = no justice.


justice is a part of the individual security.

I think this is the most important reason to be here today. If we expect justice to be given to us we will be so desperate.

The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion. Albert Camus

[fabiorem]

A few weeks later he told me that BTC was too expensive for him to buy (a common newbie reaction).

Newbies dont think of money as a relative value, but as a absolute value. For them, money is a solid object, hard to move around. They dont see money as a flowing object.

[xhomerx10]

as long as the network congestion/high-fees aren't resolved, bitcoin will not move anywhere - currently ripple does up to 1500tx/s with low-fees
btc and eth are currently mostly gateway coins
premined does not mean "not decentralized", IOTA and Cardano have interesting concepts
let alone the fact that botcoin and his brother buttcoin are also centralized through China-SHA256 and extremly resource hungry
who do you think will own the master-nodes for LN?  

the problem is the distribution of the coins for the premined projects, i guess the creators have the most, but that is also a problem with btc and early adopters

currently btc can't cope with much more new users - a price of 50k$ is not justified
will you pay 100$ transaction fee? - i wanted to buy some cardano and converted my btc to eth before transaction

inb4 ripple shiller: i sold my stash at 20ct  

Ripple is a company run by few individuals with unlimited cap and blah blah. I dont know of anybody mining ripple... It is just like a tokenized visa, makes little sense to me

 Ripple cannot be mined and if anybody tells you differently, they're trying to rip_ple you off.

So how the hell are transactions validated? Seems to me like it is just a public db

 It is a public db.  There are nodes which relay candidate transactions and also special validator nodes which use an iterative process to come to a consensus on candidate transactions that will be included in the ledger. I believe the nodes hash the resulting set of candidate transactions and compare the hashes among themselves until there is a supermajority in agreement.  There is no reward for running a node or a validator node.

[fluidjax]

who do you think will own the master-nodes for LN?  

There are no master nodes for LN, go away and do your reasearch before making blatantly incorrect statements.

[Logic-Elliven]

LOL!  
A honest ICO at last!
So refreshing I may just buy some!  

https://milliondollarico.io/

[JimboToronto]

Good morning Bitcoinland.

I see we're about where we were after yesterday's rise, a little over $15k... currently $15287USD/$19166CAD (Bitcoinaverage).

Old coins are worth $18331USD/$22978CAD each (Coinmarketcap).

The winter blahs are upon us once again. I don't expect any price doubling until the usual spring rally.

Can't complain about the usual autumn rally though. 2017's was a real doozy. Time to settle in for the winter, content with last years harvest and wait for the new season.

Then again, maybe a certain honey badger doesn't want to hibernate.