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

[Arriemoller]

Buckle up

-snip-

No shill quotes please..

And even if you were not quoting that sociopath's rag..so what?  How is this good news?  Some local court ruling that bitcoin has value. Surprise..

I wonder what great significance this piece of news might have. Is there any need for a Korean court to rule bitcoin has economic value and can be confiscated, so the proceeds go to finance state budget?

The Feds confiscated and sold Ulbricht's Silk Road coin and happily auctioned them without all that fuss.

I don't get it, the guy posts a bullish news article at a time when there is very little good news surrounding bitcoin (mostly just FUD) and you shit all over him? Who gives a shit if it's on that website? I doubt roger himself wrote the article (hint: he didn't). What's the guy shilling, Korean news? Lol.

How many governments have officially come out and said that bitcoin is recognized as having actual, real world value - not banning crypto currencies, or saying crypto is only used by criminals, etc. - especially in one of the biggest crypto markets in the world?

Did you guys lackadaisically brush off when Japan made BTC a legal currency? Or when Overstock.com said they were going to accept BTC, were you guys like, "whoopdi fuckin' doo, we all know it's got value, congrats company for figuring out what we already know"? No, we were all happy it was being adopted by a well known company where we could buy real things with our bitcoin.

Totally agree with you. 1 sMerit sent

[jojo69]

helping me allways don’t looke at the price Just buy and hodl

amen

[Arriemoller]

Is this going to be a good alternative to Tether?

https://cointelegraph.com/news/uks-royal-mint-launches-gold-backed-cryptocurrency
snipped
In the short term we need a safe haven from Crypto, having a gold backed currency would be better than a fiat backed currency.
Any backed currency requires a trusted party and having a permissioned block chain is irrelevant as you need to trust 100% the people who are storing the backing.

I think a gold backed currency from the UK Royal Mint is going to be more trust worthy than Tether.
I'm not suggesting this is as a replacement for Bitcoin or other Crypto currencys, but it is a mechanism for holding stable value loosely pegged to fiat.

Please, less of the 'we'.
I'm just against any of it, on principle.

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

[bitserve]

Is this going to be a good alternative to Tether?

https://cointelegraph.com/news/uks-royal-mint-launches-gold-backed-cryptocurrency
snipped
In the short term we need a safe haven from Crypto, having a gold backed currency would be better than a fiat backed currency.
Any backed currency requires a trusted party and having a permissioned block chain is irrelevant as you need to trust 100% the people who are storing the backing.

I think a gold backed currency from the UK Royal Mint is going to be more trust worthy than Tether.
I'm not suggesting this is as a replacement for Bitcoin or other Crypto currencys, but it is a mechanism for holding stable value loosely pegged to fiat.

Please, less of the 'we'.
I'm just against any of it, on principle.

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

I would gladly hold some gold-pegged crypto as a hedge. Nice addition to a diversified portfolio but only if It is really pegged and completely safe, trusted and guaranteed. Otherwise holding gold would be a wiser choice considering you don't look for ROI there but safety and stability.

Also, I wonder how they could do a perfect stable peg... If some entity is to store the physical gold for the peg... wouldn't it need to charge some storage costs + profit? How much would that be?

Unless they go full fractional.... and then we are talking about something completely different to really (virtually) holding gold.

[jojo69]

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

in theory it sounds great

in reality they will be unbacked goldtethers...just like the current paper gold market...no thanks

[Arriemoller]

Gold is an excellent store of value. I read somewhere that a cow in ancient Rome, medieval Europe and today cost the same in gold.
A gold pegged crypto listed on the exchanges would be perfect for parking money while chasing pumps in the alts market.

in theory it sounds great

in reality they will be unbacked goldtethers...just like the current paper gold market...no thanks

How do you know that, A link to your source perhaps.

[jojo69]

How do you know that

because trusting someone to hold your gold is pretty much exactly like trusting them to hold your private keys

[Arriemoller]

So, you just pull a statement from your ass and present it as a fact, what a surprise.

[jojo69]

fine

invest in your "fully backed"  non tungsten, non rehypothecated gold crypto, knock yourself out

I choose trustless investments

[Arriemoller]

A more humble person would have presented that as an opinion, not a fact.

Writing for example, "in my opinion they will be unbacked goldtethers...just like the current paper gold market...no thanks"

Or "I believe that in reality they will be unbacked goldtethers...just like the current paper gold market...no thanks"

[jojo69]

Fair enough, though I do hold the probability for there to be shenanigans in, pretty much any, custodial precious metals arrangement to be very near metaphysical certitude.

[PoolMinor]

What did I win?!

2 Merits and 1 sMerit

[Arriemoller]

Fair enough, though I do hold the probability for there to be shenanigans in, pretty much any, custodial precious metals arrangement to be very near metaphysical certitude.

Well, I don't disagree with you on that. But you never know for sure, and hope springs eternal.

[jojo69]

Would be nice, wouldn't it?

[Rosewater Foundation]

I had hope once..

[jojo69]

look what the cat dragged in

[Arriemoller]

Would be nice, wouldn't it?

It sure would.

[explorer]

Fair enough, though I do hold the probability for there to be shenanigans in, pretty much any, custodial precious metals arrangement to be very near metaphysical certitude.

Well, I don't disagree with you on that. But you never know for sure, and hope springs eternal.

As does human nature, ensuring that it always ends the same.  Whoever is in charge of the money will eventually steal it.  Opinion, based on history.

[Rosewater Foundation]

look what the cat dragged in

It's been a hard slog this. I'm trying to be cool. But holy moly. :'

[Arriemoller]

Fair enough, though I do hold the probability for there to be shenanigans in, pretty much any, custodial precious metals arrangement to be very near metaphysical certitude.

Well, I don't disagree with you on that. But you never know for sure, and hope springs eternal.

As does human nature, ensuring that it always ends the same.  Whoever is in charge of the money will eventually steal it.  Opinion, based on history.

Nah, not always, but way too often.