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

[realr0ach]

Also, can you Yids explain this?  WTF?  How is this not a sign of the end of times?

[jbreher]

Once the exchanges start using lightning to send BTC between them, it’s game over for many altcoins.

Hmm. How often do you suppose exchanges send BTC between each other today?

[iCEBREAKER]

https://twitter.com/saifedean/status/954931333087637505
in which fluffypony rekts saifedean
i swear it's the carnivore thing makes them so dull-witted

Went for fluffypony's domination tweets, couldn't find them.    I'm guessing the word "fungible" was applied liberally directly to the tweetstorm.

The butthurt of the Bitcoin Maximalist Supremacist Monopolists is in direct proportion to the cognitive dissonance they suffer from watching their analytical frameworks fail to be validated with predictive power.

The canonical example (besides Frap.doc's anti-altcoin rantings here) is Daniel Krawisz's obscenely inaccurate exaggeration of "The Coming Demise of the Altcoins" (http://nakamotoinstitute.org/mempool/the-coming-demise-of-altcoins/).

For such a smart guy, he really screwed the pooch on this one.  But then again, so did Blockstream's (not-coincidentally former) Head of Strategy.

Let's all laugh at how wrong whiny little Daniel's bigoted expectations have proven to be!

Isn't it impressive how absolutely convinced he is of his own hilariously incorrect assumptions?

A new altcoin cannot survive with only a fraction of the cryptocurrency pie. It must defeat everything else to succeed, including Bitcoin. Since it begins at an extreme disadvantage with respect to Bitcoin, it cannot succeed with technology that is marginally superior to Bitcoin. It must be as significant an advance over Bitcoin as Bitcoin is over the dollar.

...

Altcoins are not viable because they cannot reproduce that which gives Bitcoin an overwhelming competitive edge: its market cap. It is unethical to create an altcoin with the purpose of making money off of it for this reason. They should not be taken seriously. The way to defeat them is to keep demanding of the altcoin promoters that they spell out why their altcoin makes sense as an investment. The more that this demand is made, the worse altcoins will look.

I guess the new altcoins didn't get the memo huffily declaring why it was impossible for them to survive, given the (admittedly flakey) Bitcoin Domination Index's sustained collapse to a humiliating (in the literal sense of more humility and less hubris) 33%.  It's past time to rename that figure to either the Bitcoin Submission Index, or the Altcoin Domination Index.

Saifedean and Frap.doc, unlike Krawisz before them, right off the bat fail to account for Namecoin, the OG alt partially created and thus Blessed with propriety directly from Satoshi.

These overeducated derps failure of imagination was completely predictable.  Here is a simple substitution exposing the paltry tissue of bad faith on which rests the entirety of Krawisz's line of argumentation.

Bitcoin cannot survive with only a fraction of the fiat currency pie. It must defeat everything else to succeed, including the dollar. Since it begins at an extreme disadvantage with respect to fiat currencies, it cannot succeed with technology that is marginally superior to fiat currencies. It must be as significant an advance over fiat currencies as fiat currencies are over barter.

Crypto-currencies are not viable because they cannot reproduce that which gives fiat money an overwhelming competitive edge: its market cap. It is unethical to create a crypto-currency with the purpose of making money off of it for this reason. They should not be taken seriously. The way to defeat them is to keep demanding of the crypto-currency promoters that they spell out why their Bitcoin makes sense as an investment. The more that this demand is made, the worse Bitcoin will look.

QED the Never-Alters were wrong to begin with, comporting with the consensus reality that emphasizes this fact every day in which alts persist in their domination of Bitcoin. 

[rezurect007]

Does anybody know a mempool visualizer which can show thebelow:

[jbreher]

Chartstrology, indeed.

When the moon is in the Seventh House
And Jupiter aligns with Mars
Then peace will guide the planets
And love will steer the stars

[jbreher]

Ugh, I just did my taxes on TurboTax and can't bring myself to hit the send button.   This sucks. Should I just suck it up, sell 0.2BTC and transfer to my bank and be done with it? I despise giving the US government any more money.

Payment isn't due for several months yet. Might be 0.1 BTC or less at that point.

#justsayin

[jbreher]

https://bitcoin.tax/

It supports the report format of most major exchanges.

It sounds like a useful service. But at what price? What might they be doing with the data other than crunching it for your benefit? Don't forget the universal maxim - if a service is free, then you're not the customer, you're the product.

[bones261]

Ugh, I just did my taxes on TurboTax and can't bring myself to hit the send button.   This sucks. Should I just suck it up, sell 0.2BTC and transfer to my bank and be done with it? I despise giving the US government any more money.

Payment isn't due for several months yet. Might be 0.1 BTC or less at that point.

#justsayin

Or it could be .3 BTC or .5 BTC. I am not going to speculate when it comes to giving Uncle Sam their pound of flesh. I am very small fry, as you can tell about me bitching over a somewhat trivial amount.

https://bitcoin.tax/

It supports the report format of most major exchanges.

It sounds like a useful service. But at what price? What might they be doing with the data other than crunching it for your benefit? Don't forget the universal maxim - if a service is free, then you're not the customer, you're the product.

If you have over 100 transactions, they charge 30.00. I paid the fee since I had well over 100 transactions and it is a lot easier than me trying to manipulate csv files myself to convert to something I can port over to a tax software program. I'm certainly not going to write by hand all the transactions on a schedule D form. They may be using my information for other purposes, but that's the price to pay for the convenience.

[jbreher]

Just learned that you can cash out from Conbase at 2.5% using paypal 

Why? Cashing out of GDAX is freekin' _free_.

[realr0ach]

The butthurt of the Bitcoin Maximalist Supremacist Monopolists is in direct proportion to the cognitive dissonance they suffer from watching their analytical frameworks fail to be validated with predictive power.

No cryptocurrency is exempt from the Ted Kaczynski rule.  They will all be subsidizing some type of enslavement in the end.  In fact, monero might do it the complete opposite way.  An anonymous currency (if it actually manages to stay anonymous) would cause the state to collapse from inability to collect taxes, or enough taxes to prevent being taken over by it's more collectivist, imperial neighbor.  

An anonymous currency is simply mandating libertarianism, and libertarianism doesn't actually exist, it's just a power vacuum that is filled by a strong man.  So unless Monero took over the entire globe and caused every govt to collapse simultaneously, it just selectively weakens different ones, then allows the others to move in and take them.  This is also the basis of the protocols of the elders of Zion.  You purposely try to get nations to adopt libertarianism to make them weak and easy to take over.

[jbreher]

I have so many accounts on so many exchanges I have lost a couple of Eth and have no idea where they are. 

The other day, I re-discovered the fact that I have a wallet at blockchain.info. It even had a couple BTC in it. Score!

[bones261]

Just learned that you can cash out from Conbase at 2.5% using paypal 

Why? Cashing out of GDAX is freekin' _free_.

I use it from time to time since I can then transfer the funds from Paypal to my bank, instantly, for .25 cents and it shows up as being from Paypal rather than Coinbase at the bank. My funds are usually available within minutes rather than a business day or two. I'm not sure what my bank's policy is regarding Bitcoin transactions, they haven't given me any trouble, so far. However, I don't want to push the envelope too far.

[Last of the V8s]

Does anybody know a mempool visualizer which can show thebelow:
https://pbs.twimg.com/media/DUCmEfJX4AA1W78.jpg[/img]

https://pbs.twimg.com/media/DUBvft7XcAAxvoE.jpg[/img]

https://dedi.jochen-hoenicke.de/queue/#24h

[Last of the V8s]

https://twitter.com/saifedean/status/954931333087637505
in which fluffypony rekts saifedean
i swear it's the carnivore thing makes them so dull-witted

Went for fluffypony's domination tweets, couldn't find them.    I'm guessing the word "fungible" was applied liberally directly to the tweetstorm.
  

all it was was https://twitter.com/fluffypony/status/955062049100521473

also: https://twitter.com/WeathermanIam/status/955122131859394562
@WeathermanIam
3h3 hours ago
Replying to @WeathermanIam @giacomozucco and

The PR firm that put together this campaign for @rogerkver and co is very good at this.

They identify personas and then the “influencers” that can hit them.

Then they work with those influencers to develop viable narratives.

@DanielKrawisz @bitstein and @pierre_rochard #bought

[Enjel]

Crypto taxes are unenforceable, period. Anyone who is bending over backwards to try to do taxes should just stop and do the easy thing.

I recently just realized that Cryptopia not only allows you to withdraw coins while remaining totally anonymous (I know that Bittrex holds your coins until you verify identity), but also I think they delete your transaction history past 24 hours or something (I can't find my transaction history, which probably has tens of thousands of transactions, if not more).

What's to stop someone from just sending coins to some random/new fiat account, then cashing out? What are they going to do? Go through all of the stuff, when it's not even incriminating or suspicious?
Knowing the US government, I doubt that they wouldn't try, but it's just not practical, especially with the inefficient bureaucracy.

Not recommending breaking the law if you can avoid it, but if you started trading a month ago even, it's practically impossible to pay correct taxes, especially with this new tax act.

[Enjel]

Bottom line, any tax problems with crypto are the government's own doing to itself to try to exploit people.

They have no power except for intimidation - if you can do taxes, then do them, but if you can't, well too bad.

[Searing]

Crypto taxes are unenforceable, period. Anyone who is bending over backwards to try to do taxes should just stop and do the easy thing.

I recently just realized that Cryptopia not only allows you to withdraw coins while remaining totally anonymous (I know that Bittrex holds your coins until you verify identity), but also I think they delete your transaction history past 24 hours or something (I can't find my transaction history, which probably has tens of thousands of transactions, if not more).

What's to stop someone from just sending coins to some random/new fiat account, then cashing out? What are they going to do? Go through all of the stuff, when it's not even incriminating or suspicious?
Knowing the US government, I doubt that they wouldn't try, but it's just not practical, especially with the inefficient bureaucracy.

Not recommending breaking the law if you can avoid it, but if you started trading a month ago even, it's practically impossible to pay correct taxes, especially with this new tax act.

tough to do...in 2013 my bank sic'd the SEC on me because all BTC is EVIL.....I crushed them with my CPA tax forms and such...the SEC guy on the speaker phone was like

why am I here?

So that die is cast...so since then I have the CPA and I do the best I can figuring out taxes..though..tossing chicken entrails on the floor and using voodoo to get the right

figures for the IRS will likely be as good. Just do what you can...show your work (many folders with calcs) and my CPA says....if I can explain it...it likely will work because

most CPA's and any audit are clueless...thus even by hand figures on capital gains and such I can justify with my trusty folder of calcs is likely fine

but yeah, it could be UNENFORCEABLE...If you never increase your lifestyle......I mean I've heard of folk getting caught because of a 30k car they bought with cash

and could not show where the $$$ came from

thus, I'm legal as hell, CPA the works...when the IRS comes snooping around again (like SEC) I will just point to the speedboat and the trophy girlfriend and say

sorry, guys......I can justify my new found lavish (if dumb) lifestyle

but for me ...never was tempted to go dark...this little sea turtle was caught before he could get off the beach!

( I miss BTC being evil for a whole couple of weeks in 2013...I'd go to my bank..and it was like John Dillinger had an account there.....as close to desperado as I will ever

be...needless to say, I changed banks soon after.....)

[JayJuanGee]

IF you all hold - why btc dominance is 35% not 70%?   It is not new people - it is all you


snip [no one cares]

it's jamie dimon and his ilk faking newbs like you out. shut up and read the thread

Yep I've read this thread - 99% of people here hailed btc will be now 25-30k and we are 12k hardly. All TA say it will drop HARD. Logic say it WILL DROP. FUTURES say it WILL drop.

Are you bilioners that you know it will go up?

Just tell me why it should go up - because last year it went up? LOL thats great



Look on SALE WALLS on GDAX - hundreds of BTC - and buying? Nearly none, volume? - LOL no volume at all

Get the fuck out of here with your negative Nancy bullshit, and if you are referring to volume, there has been an increase in BTC trade volume for more than half of a year and ongoing.  Look at the weekly charts.  The trade volume is not lessening, and the BTC price battle is ongoing.  Sure, we have had up and we have had down. We have had mostly up, but only recently (in the past month) consolidation in a largely $10k to $20k territory and gravitating into the lower end of that range.  So fucking what?

O.k..  It is possible that there will be another test of support at $10k and it is possible that support will be broken - but such test is not certain and the results of such test is not certain either.  You boys and girl better be pee pared for both up and down because if you are only betting one way, you have a 50% chance of getting screwed, and if you are betting that BTC is dead, or dying or some alt is going to take over then your chances of getting screwed a whole hell of a lot greater because the odds of UP after this consolidation period are good.  Therefore good to be accumulating some BTC and not selling too many too soon.

[yefi]

It sounds like a useful service. But at what price? What might they be doing with the data other than crunching it for your benefit? Don't forget the universal maxim - if a service is free, then you're not the customer, you're the product.

The service isn't free, you have to pay $30 per year for less than 10K transactions and $100 for over. Not saying they won't still monetise the data though.

[JayJuanGee]

As I see it - whales do money if it is dipping, and if it is going up

There is no exchange with my fiat that I could win in daytrade.


I bought btc back but I see it will dip for sure - but at my exchanges there is so low volume and bot manipulation that even If i sell and buy back at night when it will be low - still I wont be +

And no one here have shown me any good reason/evidence that Hodling = winning

If you holdl from january 2013, you make about a 1000x in 5 years.

This is a good reason/evidence.

So you want to say that Bitcoin will never drop? Please in whole history of stock - find me company or anything that never ever dropped? Please


Sorry but I am not rich - no one gave me anything. Right now I will try on 0.175btc and HODL not looking on the price. If it goes up for uptrend I buy more. If it goes down - oh well that wasn't so much.

Maybe you have just described why you are such a fucking loser?

You are too scared, you lack confidence in bitcoin and it looks like you engage in the opposite practice of what you should be doing.


You seem to be buying on the way up and selling on the way down.   Instead you should be buying on the way down and selling on the way up.