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

[Last of the V8s]

https://themerkle.com/capital-one-refuses-to-let-customers-buy-cryptocurrency-from-any-exchange/
final whimperings of fiat demise

[bonipper]

https://themerkle.com/capital-one-refuses-to-let-customers-buy-cryptocurrency-from-any-exchange/
final whimperings of fiat demise

Considering the number of newbies trying to get into crypto capital one will lose a lot of customers. They will all vote with their feet and take their business elsewhere.

[jojo69]

https://themerkle.com/capital-one-refuses-to-let-customers-buy-cryptocurrency-from-any-exchange/
final whimperings of fiat demise

because banning a thing has always been so effective at diminishing its dark allure...

oh the wringing of hands and gnashing of teeth is going to be most enjoyable

[d_eddie]

https://themerkle.com/capital-one-refuses-to-let-customers-buy-cryptocurrency-from-any-exchange/
final whimperings of fiat demise

Here's how that article ends.

The big question is why Capital One has made this decision all of a sudden. It is certainly a move that will upset a lot of people and create some negative PR at the same time. While cryptocurrency may still be considered a niche market right now, interest in Bitcoin and altcoins has never been higher. If enough people ditch Capital One because of its aggressive stance toward cryptocurrencies, interesting things may happen in the future. It seems highly unlikely that will be the case, though.

Unlikely or not, the only way I've found effective to deal with a bank is switching to another.

[Last of the V8s]

https://themerkle.com/capital-one-refuses-to-let-customers-buy-cryptocurrency-from-any-exchange/
final whimperings of fiat demise

because banning a thing has always been so effective at diminishing its dark allure...

oh the wringing of hands and gnashing of teeth is going to be most enjoyable

we can celebrate with a little tipple

[jojo69]

...the only way I've found effective to deal with a bank is switching to another not using them.

ftfy

[Dabs]

I use Capital One. But only because they give me 3% cashback on stuff I buy from Costco. It's called something else in my country, but it's obviously Costco.

[JayJuanGee]

Roach has had his funny and artistic moments, including this one.

Indeed...truth be told..he is a much better troll than all of us combined methinks.   

hahahahaha

I would not go so far as to label him as "good" or "better" beyond the fact of his merely having some "from time to time, moments."

[JayJuanGee]

I had one of these kinds of threats with one of my "free" portfolio monitoring apps..   It said:  "we have noticed that you have more than $5k in value in your portfolio, please buy this app.. blah blah blah."  BIG BROTHER is watching, and he wants your BTC.

[JayJuanGee]

@LukeDashjr
22h22 hours ago

If anyone who donated to me feels like it, I can pay the tax-man less if you get in touch with your cost basis for the donated coins.

Please use email Luke_donation_costbasis@dashjr.org for this purpose. Don't forget to mention the number of bitcoins you donated & when.

Thanks!

Interesting... How do that work in the USA?

Here, the cost basis of the donator is irrelevant to the one receiving the donated coins, he just have to pay the "donating tax" over the current market value of the asset received. It is the donator who has to pay whatever capital gains he realises at the time of donation (basically the same is if he sold instead of donate).

Luke dash jr seems to have an "interesting" theory that is likely incorrect.  Unless he is saying that if the donator chooses to NOT claim the basis for their donation, then Luke is going to claim it.  In either case, sounds like a goofy theory.   

[OWZ1337]

I use Capital One. But only because they give me 3% cashback on stuff I buy from Costco. It's called something else in my country, but it's obviously Costco.

CostCo taking bitcoin would be a big deal :-D weee ~ got pizza? 

[bones261]

If you would like to help continue the ongoing stress test to the BCH network, please send 1 BCH satoshi to one of the following addresses. Include a fee of 1 BCH satoshi fee as well. Each address can be decoded to a special message as well.  

173NAdgVkPH816WVdSJQ8rqcAz8Q6MB8bL
17RYviQbW4BhtyzsPq973Mqd8yvJhBnPif
17RYviQbUnELRZwbeuxddyDzGEsJCoy3m7
18bvDcSDVF3aH8WYU26qEUG5ure4ZuiUnA

[Syke]

CostCo taking bitcoin would be a big deal :-D weee ~ got pizza? 

We're within about 10x of a pizza costing 10,000 satoshis, instead of 10,000 bitcoins.

[OWZ1337]

CostCo taking bitcoin would be a big deal :-D weee ~ got pizza?  

We're within about 10x of a pizza costing 10,000 satoshis, instead of 10,000 bitcoins.

luckly i can save some satoshis roaming around CostCo for free samples~what a shame bitcointalk banned giveaways wtf!!! :\

~> I CAME HERE FOR THE FREE BEER!! :-D

[realr0ach]

This is over the head of some people here, but why cryptocurrency doesn't actually have scarcity:

Who on Bitcoin can snap his fingers and create money out of thin air?

Anyone because PoW does nothing to force convergence of rough consensus attacks (aka forks or altcoins).  This is because cryptocurreny is inherently non-fungible.  It doesn't matter if you mix inputs to hide sender/receiver; that does nothing to solve the problem. Assumptions go into the white paper that things like the longest chain rule will prevent two coins with the same algo from existing at the same time and that PoW will force convergence, yet BTC and BCH both exist at the same time with the same algo, clearly nullifying that assumption.

You agreed with my example that cryptourrency does not actually have scarcity because Vitalik can create one billion scamcoins in his basement by snapping his fingers then do it again five seconds later.  The fact PoW does nothing to solve rough consensus attacks means proof of work is in the same boat.  It just happens through slightly different mechanisms.  

So called "network effect" does absolutely nothing to force convergence either, because bitcoin has built-in usurious middlemen called transaction validators who want a cut of every transaction.  Since block space is highly limited, the success of bitcoin is it's own worst enemy, increasing fees exponentially and giving it a reverse Schelling point - driving users to OTHER chains to avoid usury fees, compounding the inability of PoW to force convergence even further.

[realr0ach]

And for people who haven't yet figured out the US is going to a silver based dollar when the monetary system blows up (with JP Morgan currently acting as an agent for the US govt):

http://www.silverdoctors.com/silver/silver-news/we-could-see-an-upside-surprise-in-silver-at-any-moment-including-a-jp-morgan-double-cross/

[ssmc2]

And for people who haven't yet figured out the US is going to a silver based dollar when the monetary system blows up (with JP Morgan currently acting as an agent for the US govt):

http://www.silverdoctors.com/silver/silver-news/we-could-see-an-upside-surprise-in-silver-at-any-moment-including-a-jp-morgan-double-cross/

lmao you're hilarious

[conspirosphere.tk]

And for people who haven't yet figured out the US is going to a silver based dollar when the monetary system blows up (with JP Morgan currently acting as an agent for the US govt):

http://www.silverdoctors.com/silver/silver-news/we-could-see-an-upside-surprise-in-silver-at-any-moment-including-a-jp-morgan-double-cross/

Then (((they))) will chip with an RFID the JPM legal tender coins and you will be left with your lumps of metal that no one will accept.
They've been cheating with the pm market since forever and you think that they would let you play their game?

[realr0ach]

And for people who haven't yet figured out the US is going to a silver based dollar when the monetary system blows up (with JP Morgan currently acting as an agent for the US govt):

http://www.silverdoctors.com/silver/silver-news/we-could-see-an-upside-surprise-in-silver-at-any-moment-including-a-jp-morgan-double-cross/

lmao you're hilarious

The banks are the govt, so whether JP Morgan is acting as an agent of the US govt or not is entirely semantics.  It's all the same difference.  Fort Knox is either entirely empty or well below what it's supposed to have, so they bought up a different asset that's interchangeable with gold anyway to monetize when the economic system implodes.  

Since places like India and random arab nations have large amounts of gold, monetizing only gold would just make the west slaves of shithole 3rd world countries.  Most of those nations do not have large amounts of silver. In fact, JP Morgan has just about all the silver now.  Gold and silver will both obviously be monetized, but when both are monetized at the same time, the value of gold will only go up to like $5-10k, while silver will go up to something like $300-$600, putting the west (or US in particular) on a much more level playing field with the 3rd world shitholes that have stacked more gold.

As for what happens to places like Canada that have no gold or silver reserves, who the hell knows.  If they have no type of monetary reserves, they might end up being economically annexed by the US or just flat bought out by China.

[TERA2]