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

[TERA2]

On another note, China doing everything it can to screw itself over:

http://www.scmp.com/business/banking-finance/article/2129645/pboc-orders-banks-halt-banking-services-cryptocurrency

Meanwhile, US investment bank Morgan Stanley announced on Thursday it will followed the lead of rival Goldman Sachs in offering bitcoin futures trading for clients.

[HairyMaclairy]

Lightning is instant and 18,000 times cheaper than Bitcoin Cash

Bullish....

[realr0ach]

On another note, China doing everything it can to screw itself over:

http://www.scmp.com/business/banking-finance/article/2129645/pboc-orders-banks-halt-banking-services-cryptocurrency

Why would China not ban bitcoin?  How does bitcoin help China in ANY way even if they wanted to use it?

They have 1 billion fucking people and bitcoin doesn't scale to service a small town with one gas station, let alone China.  This thread is mostly a giant echo chamber of technically illiterate people, so they don't know Lightning Network can't function in a decentralized manner whatsoever (not that bitcoin itself functions decentralized either).  Before he became a scammer and disappeared, people who actually know what they're talking about like Death&Taxes mentioned problems like this too.  

I recently explained 10x better why LN is a complete dead end unless your goal is to recreate the already existing banks:

https://bitcointalk.org/index.php?topic=178336.msg28305541#msg28305541

[Torque]

What if I told you that people thought the same thing in July 2013? 

[El duderino_]

If $24,777 isn't reached for years does that mean we still see this spam every day?

NO big time idiot then it gets to closest date    

[Torque]

Hey kids, never forget that conspiracy theorists are completely nuts. Until they aren't.

http://www.foxnews.com/politics/2018/01/18/gop-lawmakers-demand-alarming-memo-on-fisa-abuses-be-made-public.html

[BTCMILLIONAIRE]

On another note, China doing everything it can to screw itself over:

http://www.scmp.com/business/banking-finance/article/2129645/pboc-orders-banks-halt-banking-services-cryptocurrency

Why would China not ban bitcoin?  How does bitcoin help China in ANY way even if they wanted to use it? 

They have 1 billion fucking people and bitcoin doesn't scale to service a small town with one gas station, let alone China.  This thread is mostly a giant echo chamber of technically illiterate people, so they don't know Lightning Network can't function in a decentralized manner whatsoever (not that bitcoin itself functions decentralized either).  Before he became a scammer and disappeared, people who actually know what they're talking about like Death&Taxes mentioned problems like this but didn't go into any details as to why, and I've expanded on this issue 10x more than he ever did recently:

https://bitcointalk.org/index.php?topic=178336.msg28305541#msg28305541

Even if every crypto was heavily centralized and functioned as a digital central bank, it'd still be far more decentralized than traditional CBs are, simple by virtue of being interchangeable instantaneously. Don't like what the miners on the Bitcoin network are doing? Or the major stakeholders? Flip over to another crypto in the blink of an eye. You do not have this option with government and CB controlled fiat currencies.

And luckily cryptos are not centralized and will be further decentralized as the mainstream starts adopting them.
You're also completely neglecting the fact that a bunch of centralized hubs can very well coexist with a decentralized base layer, while also completely ignoring the fact that this is just the first solution for the current very real problems with scaling. In the future, just like exchanges, something like LN might very well end up returning to full decentralization.

And there's more to crypto than just Bitcoin, which renders your argument regarding China entirely redundant.

[realr0ach]

On another note, China doing everything it can to screw itself over:

http://www.scmp.com/business/banking-finance/article/2129645/pboc-orders-banks-halt-banking-services-cryptocurrency

Why would China not ban bitcoin?  How does bitcoin help China in ANY way even if they wanted to use it?

They have 1 billion fucking people and bitcoin doesn't scale to service a small town with one gas station, let alone China.  This thread is mostly a giant echo chamber of technically illiterate people, so they don't know Lightning Network can't function in a decentralized manner whatsoever (not that bitcoin itself functions decentralized either).  Before he became a scammer and disappeared, people who actually know what they're talking about like Death&Taxes mentioned problems like this but didn't go into any details as to why, and I've expanded on this issue 10x more than he ever did recently:

https://bitcointalk.org/index.php?topic=178336.msg28305541#msg28305541

Even if every crypto was heavily centralized and functioned as a digital central bank, it'd still be far more decentralized than traditional CBs are, simple by virtue of being interchangeable instantaneously.

You completely ignored the fact that China and Russia are both very clearly going back to precious metals as money.  So again, why would they let the west derail their plan with these centralized, imaginary tokens that don't even scale when metals are far better for them and more sound as money anyway?

[BTCMILLIONAIRE]

You completely ignored the fact that China and Russia are both very clearly going back to precious metals as money.  So again, why would they let the west derail their plan with these centralized, imaginary tokens that don't even scale when metals are far better for them and more sound as money anyway?

And there's more to crypto than just Bitcoin, which renders your argument regarding China entirely redundant.

[fabiorem]

I recently explained 10x better why LN is a complete dead end unless your goal is to recreate the already existing banks:

https://bitcointalk.org/index.php?topic=178336.msg28305541#msg28305541

The bank gives you 1% interest for storing money on it, while it asks 10x that from one taking debt from it.

Do you see this happening with bitcoin? All I see is 1000% interest, you having control and responsibility over your own money and new technologies that can destroy the credit card oligopoly in the future.

There are some altcoins with lending systems, but they are very obscure and few people will use them. With bitcoin we finish usury as we know it.

You talk so much about jews, but you are defending the system which supports them.

[RobSteward]

You completely ignored the fact that China and Russia are both very clearly going back to precious metals as money.  So again, why would they let the west derail their plan with these centralized, imaginary tokens that don't even scale when metals are far better for them and more sound as money anyway?

And there's more to crypto than just Bitcoin, which renders your argument regarding China entirely redundant.

God, I'd love to know how roach's brain is working so efficiently at neglecting any information that is not in compliance with his views and believes. It's astounding.

*excuse errors, please.

[vroom]

12k incoming. I hope we will see a very bullish weekend!

[realr0ach]

And there's more to crypto than just Bitcoin, which renders your argument regarding China entirely redundant.

There's only one thing you need to understand about bitcoin.  Everyone on this forum is nothing more than a random slob who has purchased a lottery ticket hoping to participate in a get rich quick scheme.  Where the rubber hits the road is when you have people who have worked on some Foxconn assembly line their whole lives and have to choose how to store their life savings.  For anyone not trying to participate in a get rich quick scheme, they view this stuff as nothing more than sketchy, worthless fiat 2.0.

Unlike the economically illiterate west, the Chinese aren't idiots about money.  Yea, they like to gamble, but they're not going to store their life savings in imaginary dogecoins.  Most of the people posting here are delusional gamblers, or conmen trying to trick fixed-income retirees into buying their latest pump and dump scam.  Like most pump and dumps, they will trick a few people and rob them blind, but the majority of people left holding the bag will be the gamblers themselves.

No, cryptocurrency is not some paradigm shift.  They're all designed to centralize, so every single thing in this entire sector is nothing more than a permissioned ledger, federated chain in the end, like Ripple already is now.  And they can't scale, except when fully converted to federated chains anyway.  It doesn't matter how much hand waving and bullshit you bugmen try to fabricate, there is no type of monetary instrument on this planet that removes middlemen and counter party risk besides physical, commodity based money like silver or gold (or physically carrying around lumber or oil if you want to go that route, but nobody does, so metals always win Exter's Pyramid in the end).

[lightfoot]

God, I'd love to know how roach's brain is working so efficiently at neglecting any information that is not in compliance with his views and believes. It's astounding.

Just like with computers, it's possible to install anti-reality filters in people's brains so they only see what they want to see and anything else gets filtered out. Any time a conflicting thought comes in, it's blocked and redirected to porn or something.

The real fun comes when you start hacking with a person's microcode. Then you can change who they are.......

[luckygenough56]

Regulation.Here we go.Exactly as planned.

Your reptilian overlords.

[Globb0]

So just drop it and go back to being a wage slave in the Matrix? OK thanks for the advice.

God, I'd love to know how roach's brain is working so efficiently at neglecting any information that is not in compliance with his views and believes. It's astounding.

Just like with computers, it's possible to install anti-reality filters in people's brains so they only see what they want to see and anything else gets filtered out. Any time a conflicting thought comes in, it's blocked and redirected to porn or something.

The real fun comes when you start hacking with a person's microcode. Then you can change who they are.......

Because beliefs affect identity but its at a different logical level. So cant change the belief because "then who am I anymore?"

[realr0ach]

Just like with computers, it's possible to install anti-reality filters

You just described yourself.  Anyone not freebasing crack knows this forum is a circle jerk consisting 99% of the quote below.  The fact that over half of them speak broken, Hindu-English makes it even more comical:

Everyone on this forum is nothing more than a random slob who has purchased a lottery ticket hoping to participate in a get rich quick scheme.

[Torque]

You guys must be really bored since your engaging our resident town fool. I've been guilty of that myself from time to time.

Don't feed the troll.

[luckygenough56]

that's exactly how i present crypto to people, as a lottery with benefits. Nothing more, nothing retardly idealistic, just plain stupid speculation.

[BTCMILLIONAIRE]

You guys must be really bored since your engaging our resident town fool. I've been guilty of that myself from time to time.

Don't feed the troll.

Bound to happen, we only speak broken Hindu English after all, so it's easy to get lost in all of the big words.