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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25496678 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (158 posts by 14 users with 9 merit deleted.)
supertee
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February 10, 2018, 01:05:16 PM

For me, bitcoin is the shitcoin. First of its kind, but useless. There is better coins for everything on the market. As soon as other coins will be traded agains USD instead of BTC, BTC will be dead.
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Lowryy
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February 10, 2018, 01:09:17 PM

Dogecoin, an utter joke, always has been, always will be.

We have to give them props for being an honest joke. They are not trying to "take over the world" like bitconnect said they would do. They also dont claim attempting to kill btc by saying lies like "unilited scalability with zero fees" or scam people.

When or if you buy doge, you know what you get. So at least they are honest.
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February 10, 2018, 01:16:36 PM

For me, bitcoin is the shitcoin. First of its kind, but useless. There is better coins for everything on the market. As soon as other coins will be traded agains USD instead of BTC, BTC will be dead.

Ok then. Good luck putting your life savings in those marvels.
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February 10, 2018, 01:17:48 PM

There was the most Volume since 2016 in the last few days? (bitstamp usd)


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February 10, 2018, 01:36:54 PM
Merited by RoomBot (1)

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.
Its likely part of a cycle - I (speculatively) can see an alt bubble followed by a BTC surge

Its been a few days since I've checked all the prices and I must say I am stunned that the alts are coming back so hard.

I hope you're right starmman, but, it just doesn't look like BTC will ever regain its dominance to even the 50% level. Hell, look at ripple up 50%, people were wiped out on that recently and it just doesn't seem to matter. I consider most alts to be shit, but, I guess when it's all speculating it doesn't really matter that they are shit.


Market cap and bitcoin dominance can be a misleading indicator for all the reasons that you already stated... so in that regard, people who understand the value of bitcoin are going to realize that bitcoin is the one to buy rather than gambling on those many other alt coins - and useful also NOT to get distracted by coinmarket cap, at least in terms of informing you about the dominance of BTC's fundamentals in comparison to any (and all) of the other coins.

Crypto War successful and ongoing (block size, transactions, hard forks, media)

create less reliance on bitcoin and more on centralized tokens

pump alts, sell tokens to newbs

create national tokens (russia coin, Petro coin etc), pump for newbs

sell into bitcoin - big pump (Huge) before next battle on bitcoin exchanges (corrupt, broke, no reserves, multiple exchanges as well as other btc scams)

legislate exchange and ban btc to promote national crypto

btc crash and they hope for good

lets see how it all pans out (within next 10 months)

It's going to take a whole hell of a lot longer than 10 months for all of these things to play out.

I agree with you mymenace that a lot of these things are happening and a lot of like things are going to happen in the crypto space and maybe even attempts to target and to undermine bitcoin, but even if a lot of these things happen all over the globe, it does not result in bitcoin successfully being stagnated and repressed, even though there might be some shorter-term and localized successes that might only last a short period of time because bitcoin is all over the fucking place, and there are a lot of governmental difficulties to coordinate, even if BIG ASS financial players attempt to coordinate their attacks on bitcoin, even the BIG ASS financial players are not sufficiently unified to pull off some kind of successful unified repression of bitcoin on a world-wide basis...

TLDR - bitcoin has become too BIG, too decentralized and too strong to kill...  the toothpaste is out of the tube, and it's like trying to kill the internet; good luck with that..

I agree, completely

just mentioning the enemies tactics, usually successful

yeah bitcoin just seems too damn strong a network to change though



and the attacks begin again, just reading this

https://www.rt.com/business/418390-france-germany-bitcoin-clampdown/

From the enemy themselves the Bank for International Settlements (BIS), direct from the IMF



"ECB board member Yves Mersch said on Thursday that “cryptocurrencies” are “not money, nor will they be for the foreseeable future.”"

So we either have a pathological liar or a donkey who doesn't understand what money is in the board of the ECB.
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February 10, 2018, 01:40:27 PM

Quote
"ECB board member Yves Mersch said on Thursday that “cryptocurrencies” are “not money, nor will they be for the foreseeable future.”"

So we eithr have a pathological liar or a donkey who doesn't understand what money is in the board of the ECB.

Hmmm incompetent or liar? Hard choice, but I vote for liar.
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February 10, 2018, 01:42:02 PM
Merited by infofront (1)


Doesn't matter what I think, and as you said "people who understand the value of bitcoin". Newbies don't understand shit, but, they do understand metrics like market cap, so it will hurt bitcoin. If bitcoin is not number one on the shitty marketcap metric that will hurt bitcoin adoption plain and simple.

What do the advertisers say? "you don't need a good product, just good marketing"

In that case, bitcoin was fucked from day one. 21 million coins for the entire world economy was never going to work. Most world citizens (>99%) have never had $8750 at one time in their lives. They will never buy bitcoin at that price. They will buy Ripple for $1 instead.

EDIT: Yes, I know they are divisible but the average idiot can't comprehend that.

The real problem though is that the idiots don't understand the importance or decentralization, lack of a central authority, deflationary monetary system, developer talent, trustless, and so on. Bitcoin is the best coin without a doubt in my opinion. But, how in the fuck can we get mass adoption, when most people still think the media, and governments are the good guys. Crypto will get mass adoption, but, I fear that it will be a bullshit coin supported by the banks, media, and governments.



I agree, I think the coins that will do the best with the coming mass adoption will be the ones who have the largest number of coins in circulation so they seem cheap to the idiots. Why buy a bitcoin when you can buy 10 ETH or 8000 XRP for the same price? Luckily, big institutional money will still flow into bitcoin.
I strongly believe that the altcoin market will become a modernized carbon copy of the equity markets. Once revenue participation becomes a factor smart money will flow into whatever is guaranteed to be profitable, and the sheep will eventually follow or get shorn, just like with stocks right now. The substantial differences will consist of more transparency (for established companies), more efficiency (lower fees, no closing of exchanges etc.), and easier access (which will also imply more scams and unsuccessful companies going "public" than with stocks).

The "cheap coin" bullshit that we can see on this forum every so often from newbies will eventually be fixed by "conventional wisdom" of the masses, which will end up as yet another predictor or tool for smart money.
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February 10, 2018, 01:42:47 PM

Racist is a meaningless buzzword, stating facts is now racist, yes jews control the media, and the banks, that's a fact, get over it.
yes blacks on average score much lower on IQ tests and commit a disproportionately high amount violent crimes?  is that ''racist''? don't know, don't care, but it happens to be true.

OMG People of color score lower on Ethnocentric tests. I'm not even going to dignify the rest of your crap.

Get a grip, you're a racist.

P.S.  This thread is about BTC.
*sigh* no. IQ tests are simply pattern recognition. There is nothing cultural about it. That tired old excuse is... tiresome.

And they do commit more crime. About four or five times as much per capita. Again, easy enough to look up for anyone who actually cares.

Socio-economic status is a far more reliable predictor of IQ test performance.  Low SES children consistently underperform

interesting read. https://pumpkinperson.com/2016/02/11/the-incredible-correlation-between-iq-income/
Yes, interesting read. On the other hand...

When I triple my slave time per day, I could triple my income.
When I triple my slave time per day and move to another part of my country, I could increase my income sixfold.
When I triple my slave time per day and move to a country next to mine, I could increase my income tenfold.

Choosing one of these options will increase my IQ? Wink

I would not deny some sort of correlation between intelligence and income but argue location, EQ, blind ambition and pure chance are more important. The most intelligent individuals surrounding me have an average income (for my area). All high income folks I know seem to have an average intelligence. For sure it will be hard to harvest a high income for people with lower IQ. With other words, a higher IQ will increase your chance to have a higher income, not more or less.
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February 10, 2018, 01:43:32 PM

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"ECB board member Yves Mersch said on Thursday that “cryptocurrencies” are “not money, nor will they be for the foreseeable future.”"

So we eithr have a pathological liar or a donkey who doesn't understand what money is in the board of the ECB.

Hmmm incompetent or liar? Hard choice, but I vote for liar.
That would be my vote as well, although I'm not completely sure based on what I've seen even so called quantitative Economists spout in institutions of higher education.
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February 10, 2018, 01:45:49 PM

Dogecoin, an utter joke, always has been, always will be.

At least is still decentralized, and the inflation rate is known. There are several worse scams in the top 10 cryptos, not to say of the rest.

That said, the mass will be always scammed, in one way or the other. But being scammed with shitcoins is an huge progress because it's voluntary, so it teaches responsibility and it let ppl's awareness grow instead of being reduced to spoiled brats of the government.
Doge isn't a scam. It was incepted as a self-aware meme. And frankly speaking I'd be more willing to use Doge than fiat currency if the infrastructure existed. I wouldn't throw money at it, but in the case of a binary choice between fiat and Doge where Doge could be spent just as easily as fiat I would go with the latter any day.
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February 10, 2018, 01:52:56 PM

"ECB board member Yves Mersch said on Thursday that “cryptocurrencies” are “not money, nor will they be for the foreseeable future.”"

So we either have a pathological liar or a donkey who doesn't understand what money is in the board of the ECB.

I do not rule out that his view on money may require some ‘upgrading’  Wink
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February 10, 2018, 02:04:45 PM



 Cool

$1O,OOO BTCBTCstreet price*
#checkmate


Yeah but now they are being told they were right. It has crashed. Bit of a misrepresentation of the actual situation.

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February 10, 2018, 02:08:05 PM

Quote
"ECB board member Yves Mersch said on Thursday that “cryptocurrencies” are “not money, nor will they be for the foreseeable future.”"

So we eithr have a pathological liar or a donkey who doesn't understand what money is in the board of the ECB.

That's very good news, because if it's not money it cannot be taxed, and neither it should be subject to AML/KYC b/s.

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February 10, 2018, 02:26:41 PM
Merited by pawel7777 (1)

Quote
"ECB board member Yves Mersch said on Thursday that “cryptocurrencies” are “not money, nor will they be for the foreseeable future.”"

So we eithr have a pathological liar or a donkey who doesn't understand what money is in the board of the ECB.

That's very good news, because if it's not money it cannot be taxed, and neither it should be subject to AML/KYC b/s.


Unfortunately, any bartering is a taxable event too. Otherwise everyone would have long stopped using fiat currencies as an intermediary step. Being "money" has nothing to do with it.
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February 10, 2018, 02:51:11 PM
Merited by RoomBot (1), El duderino_ (1)

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.
That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

Yeah, the % dominance thing on coinmarketcap is a complete farce. Since they count literally every new shitcoin they add to the list, then every time a shitcoin gets added to their listing, and then it wash trades a few coins up to a $1M market cap, Bitcoin's % dominance goes down. So '% dominance' is a meaningless metric now.

There were 1000 coins listed in Jan 2017. There were 1400 coins listed in Nov. Now there are 1516. So 516 new shitcoins added in a year, and 116 new shitcoins added to coinmarketcap just in the last two months.

What does that tell you?
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February 10, 2018, 02:56:09 PM

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.
That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

Yeah, the % dominance thing on coinmarketcap is a complete farce. Since they count literally every new shitcoin they add to the list, then every time a shitcoin gets added to their listing, and then it wash trades a few coins up to a $1M market cap, Bitcoin's % dominance goes down. So '% dominance' is a meaningless metric now.

There were 1400 coins listed in Nov. Now there are 1516. So 116 new shitcoins added to coinmarketcap in the last two months.

What does that tell you?
That Bitcoin has got to be one hell of a mighty beast to still have such a massive market share. The dominance metric should be removed or replaced though, perhaps only count the top 100 coins, or only coins that surpass a certain threshold.
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February 10, 2018, 02:56:27 PM
Merited by Torque (1)

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.
That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

Yeah, the % dominance thing on coinmarketcap is a complete farce. Since they count literally every new shitcoin they add to the list, then every time a shitcoin gets added to their listing, and then it wash trades a few coins up to a $1M market cap, Bitcoin's % dominance goes down. So '% dominance' is a meaningless metric now.

There were 1400 coins listed in Nov. Now there are 1516. So 116 new shitcoins added to coinmarketcap in the last two months.

What does that tell you?
I think that's a good fair point I hadn't considered before really.  Many of these coins with small to mid "market caps" on cmc are probably worth a fraction of the reported value.  I don't think it necessarily applies to the larger cap coins though.  If you remove the "other" from the chart it's still a fairly major chunk of dominance that has shifted.
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February 10, 2018, 02:59:56 PM
Merited by Torque (1)

BTC dominance is sinking and sinking.

I don't really like this.

Altcoins are thriving just as before the crash and it gets worst.
That's to be expected considering that there is only one Bitcoin and over a thousand altcoins. I don't really see an issue with that though, especially when considering that most altcoins are bound to eventually evaporate like dot com companies and the likes.

Yeah, the % dominance thing on coinmarketcap is a complete farce. Since they count literally every new shitcoin they add to the list, then every time a shitcoin gets added to their listing, and then it wash trades a few coins up to a $1M market cap, Bitcoin's % dominance goes down. So '% dominance' is a meaningless metric now.

There were 1400 coins listed in Nov. Now there are 1516. So 116 new shitcoins added to coinmarketcap in the last two months.

What does that tell you?
I think that's a good fair point I hadn't considered before really.  Many of these coins with small to mid "market caps" on cmc are probably worth a fraction of the reported value.  I don't think it necessarily applies to the larger cap coins though.  If you remove the "other" from the chart it's still a fairly major chunk of dominance that has shifted.
If you watch the charts very regularly you'll notice wash traded coins popping up and disappearing on a quite frequent basis. Part of me wants to just throw small bucks at every shitcoin just to sell the washed up pumps, but that gambling part of me can't compete with the part that seeks predictable metrics of value. I also don't feel like supporting their scammy little shit games just to turn some extra profits.
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February 10, 2018, 03:01:05 PM

For me, bitcoin is the shitcoin. First of its kind, but useless. There is better coins for everything on the market. As soon as other coins will be traded agains USD instead of BTC, BTC will be dead.

Mmmm then go too Some alt threat or something
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February 10, 2018, 03:03:52 PM
Last edit: February 10, 2018, 03:39:32 PM by Torque

I think that's a good fair point I hadn't considered before really.  Many of these coins with small to mid "market caps" on cmc are probably worth a fraction of the reported value.  I don't think it necessarily applies to the larger cap coins though.  If you remove the "other" from the chart it's still a fairly major chunk of dominance that has shifted.

The whole thing is just stupid. I could create a shitcoin today with a trillion coins (which I pre-mine 99.99% of them), wash trade one coin on an exchange for $1, and voilà my shitcoin has a $1T market cap and be #1 on the cmc listing.
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