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

[bones261]

where to fish this bottom?

I have tiny bids starting at 11K all the way down to 9K. We will see if any of them hit.

[realr0ach]

You are all wasting your time.  It is only possible to build usury schemes that centralize transaction validators through economy of scale, and those then turn into federated chains/permissioned ledgers by default.  

Is that right?

So let's say all of us idiots bought into your bullshit, but invested in Bitcoin anyway. And we road the wave all the way up to full federated ledger status. We then sell all our bitcoin at $1M/btc and buy up 10,000X more physical silver than you'll ever own in your lifetime.

Thus we outsmart you again. Checkmate fool.

If you know bitcoin is bullshit and it's not even possible to create a decentralized digital currency, yet you lie to people to try and get pump and dump profits off old retarded pensioners playing the greater fool, there is no moral difference than just flat out robbing an armored car.  It is just white collar criminal vs blue collar criminal, so you might as well just start hacking bank sites or whatever to steal the money if you're going to be a white collar criminal, or go be a blue collar criminal and attack the Brink's truck.  

You are playing the coward's way, be a criminal while pretending not to be one.  Or what virtually every single Jew in finance on the planet does.  And if your criminal enterprise is solely trying to trick people into buying your pump and dump, you are being a completely inefficient criminal.  Why not start an IPO to scam people like Vitalik?  Where does it end?  How far are you willing to go?

Can you please explain why you are blogging on Steemit then?

Good question.  Since bitcoin is a giant, complex, dysfunctional Rube Goldberg machine, and mastering both the economic and technical aspects of it takes a stupendous amount of time, I did not have a firm grasp to classify just what bitcoin is, is it based on usury, or is it possible to create a decentralized digital currency at all, etc, until very recently.  The main reason I post on Steem is just because I knew Larimer from earlier BTC days and they don't allow you to post "we really need to get rid of the jews" videos on Youtube.

I've always said in the past that Steem had a dysfunctional economic model, but still, you are not required to purchase anything to use it.  They just provide you a free service like Yahoo mail.  Unlike in bitcoin where the transaction validators hold your money hostage unless you pay a ransom fee to them.  If the nodes of Steem are willing to keep the things up and run it at a loss because the economic model doesn't work, then what the hell.  If nobody is buying or selling the tokens, that's all it really is.  It probably doesn't even cost them much to do so.  As you can see, I clearly posted there even while not making anything on posts, so it's more about posting somewhere the Jews can't try to "shut it down" than making money.

I wouldn't be surprised if Steem converts to fully centralized and just starts accepting ad revenue in the future to stay up, then it would just be like a more lax version of reddit/twitter.  Right now that's mostly what it already is, just with severe obfuscation of the legal system to avoid any responsibility.  Kind of like how all cryptos are designed to completely centralize, making them permissioned ledger/federated chains where the monopoly miners would clearly be responsible for what's going on.  The legal system has just not caught up with it yet.

I mean, let's say every Chinaman in China is laundering money through BTC and Jihan Wu is running 60% of the miners or whatever himself.  Like the legal system is not going to hold Jihan Wu responsible for those activities.  The days of legal arbitrage in designed to centralize blockchains are highly numbered.

[bitserve]

All of these people saying "you must use only bitcoin and everything else is a scam" is nonsense because it's INHERENTLY a pro-usury stance where you're claiming the entire world must agree to be exploited for the highest fees possible without them doing the obvious free market choice of just using something else.  I thought bitcoin was supposed to be anti-usury banker?  wtf?  It's like people already know bitcoin dies without scaling to a huge amount so they're trying to strong arm people into propping up their investment LOL.

Would you plz go check on the dictionary what usury means?
Then maybe you could stop talking nonsense.

The definition was changed by the money changers.  It used to mean in Luke Jr bible days just the charging of interest, then they changed it to "unreasonable interest" LOL.  Kind of like saying "rape" vs "unreasonable rape". Usury is a form of slavery and it doesn't matter what the yield you're pulling is.

WTF are you talking about? If I lend someone some money (be it a bank or another entity/person) I want to receive a fucking interest. The more "unreasonable" the interest, the better. What the fuck has that to be with slavery when you have the freedom of accepting my terms or not?

If you want to borrow my precious money you are gonna pay for it.

What are you? A fucking comunist or what?!?!

[thrax]

I am a HOLDER i have all my coins on MtGox ! hahaha

I read your posts in the MtGox withdrawal delays [Gathering] thread. How much did you lose in MtGox?

[Last of the V8s]

Freedom is imminent.
Bitcoin is the answer.
You will be assimilated.

[d_eddie]

Everyone on this thread should collectively pledge to ignore anything the Anti Semite posts for eternity. Responding to it serves no purpose.

Sorry, gentlemand. I got carried away. It happens once in a while. I was just picturing this guy with a kippah and curly long hair posting nazi bull under that infamous nickname and laughing while moving btc to the Tel Aviv Colonial Credit.

[yefi]

Only a part of my hodling bought me the house that i live in 

Cash sale? How did you find AML?

[valta4065]

where to fish this bottom?

Pretty much anytime is the bottom right now :/

I mean we've reached the 20k... We're at 11k...
So you can buy anytime and hold tight.
If you try to fish the bottom there is statistically a rather low chance that you hit the right point. YOu'll probably miss the bottom and sooner than you think it'll be over 20k again ^^

[jojo69]

fuck...missed it

Pretty much anytime is the bottom right now :/

I mean we've reached the 20k... We're at 11k...
So you can buy anytime and hold tight.
If you try to fish the bottom there is statistically a rather low chance that you hit the right point. YOu'll probably miss the bottom and sooner than you think it'll be over 20k again ^^

yeah, I'm kinda famous (in my house) for picking up pennies in front of the steamroller

I am refining it to a fine art

[Higher Altitude]

fuck...missed it

Pretty much anytime is the bottom right now :/

I mean we've reached the 20k... We're at 11k...
So you can buy anytime and hold tight.
If you try to fish the bottom there is statistically a rather low chance that you hit the right point. YOu'll probably miss the bottom and sooner than you think it'll be over 20k again ^^

yeah, I'm kinda famous (in my house) for picking up pennies in front of the steamroller

I am refining it to a fine art

I can always say: "I thought about buying/selling at that price" because often it did cross my mind to buy the bottom or sell the peak but then I never execute. And as valta pointed out, you can buy anywhere right now and will be in the green once Bitcoin starts testing the old ATH.

[realr0ach]

Pretty much anytime is the bottom right now :/

I mean we've reached the 20k... We're at 11k...

Since when does a completely parabolic BLOW OFF top entirely based on speculation not go below 50% retracement?  Anyway, this is all painting the tape nonsense by the Bitfinex spoofer & company.  It will go wherever it's spoofed as he moves both the buy and sell side at the same time.

Everyone on this thread should collectively pledge to ignore anything the Anti Semite posts for eternity.

Do not respond to anti-goyimite posts.  The goyim are the chosen ones chosen by a magical, imaginary entity, and anyone who denies this is anti-goyim.

[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_.