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

[Anon136]

Excluding the fact that no one really thinks about PMs anymore except old bearded preppers.

A good indication that it might be a good time to buy! The worse the sentiment the better the value.

[explorer]

Engage 1 minute candles !

I'm surprised there's a single person on the buy side after the IRS started sending out letters to Coinbase users telling them coins they bought for pennies require thousands of dollars in taxes on even if they used the coins to do something like buy a pizza before the price went up.  Blockchain is "the future" alright; the future of being trapped in a digital prison and enslaved by the government.

Would you like to propose a better alternative or just grouse about?

You should hire armed guards and bearers to wheel your silver around with you.  

Or do you take your silver to the jews for safe keeping?

I forget which one was better, 'casue both sucked.

You are missing that silver has one huge advantage over cryptos that makes it still important. It is non arbitrary. Cryptos are schemes that are hugely arbitrary in their implementation. Why is bitcoin better than litecoin? Why is it better than doge? Fundamentally it isn't. You might say something about it's brand or network. But monero is technologically superior and something will come that will be better than that. Cryptos will probably always be a tumultuous space as new better tech unseats the old over and over again. Wonderful for speculators, manageable for spenders, and terrible for savers. Silver on the other hand is sort of like money from god. It and gold of course. There are only a finite number of elements and the market settled on those two as the best monies, plain and simple, end of story. Silver doesn't get usurped by liteSilver which gets usurped by dogeSilver which gets usurped superUltraXXXSilverV. This is the sense in which I say that it is non arbitrary compared to value transfer protocol schemes and this is the sense in which it will retain its importance.

Do not mistake this for an indictment of Crypto-currencies. I LOVE cryptocurrencies. You know that though.

Of course.  Every person of sense has some metals.  I don't have half a billion worth in my desk drawer, however.  Silver, gold, lead, copper, brass.  It's always a good idea to have them at hand.  And I've got more of it thanks to cryptos.

[HairyMaclairy]

Excluding the fact that no one really thinks about PMs anymore except old bearded preppers.

A good indication that it might be a good time to buy! The worse the sentiment the better the value.

Tell it to TRON bag holders.

[Anon136]

Excluding the fact that no one really thinks about PMs anymore except old bearded preppers.

A good indication that it might be a good time to buy! The worse the sentiment the better the value.

Tell it to TRON bag holders.

Haha well that logic only applies to real assets. I just invented a rare pepe. I have no artistic skill at all. Infact you cant even tell its a pepe. But i'll sell it to you right now for a million dollars. You know it's a great value because the sentiment is so bad that no one even knows it exists!

[Toxic2040]

[realr0ach]

I LOVE cryptocurrencies.

In addendum to what I said earlier, I'm surprised so many people fell for the profitable PoW idiot test:

Profitable PoW was honestly the biggest idiot test ever.  Why did email PoW work at all?  Because the cost of doing it was low, giving you no reason or motive to attempt to outsource it or participate in an arms race to be more efficient.  The second you change the game from non-competitive to competitive, you are back in what the science bros call natural selection, and there are FAR MORE losers in evolution/natural selection than winners (aka culling of competition and centralized endgame until only one apex predator roams the planes).

[jojo69]

Once you have more than you can carry it is time to diversify.

I can carry one hell of a lot of BTC.

the last time I tried to carry 2K OzT I pulled something in my back.

[pacman7331]

Bitcoin go up Bitcoin go down.  Reasons don’t matter.

Seriously. I guess it’s a whimsical market. The wind blows bitcoin explodes or collapses.

I’m baffeled. 

[HairyMaclairy]

Excluding the fact that no one really thinks about PMs anymore except old bearded preppers.

A good indication that it might be a good time to buy! The worse the sentiment the better the value.

Tell it to TRON bag holders.

Haha well that logic only applies to real assets. I just invented a rare pepe. I have no artistic skill at all. Infact you cant even tell its a pepe. But i'll sell it to you right now for a million dollars. You know it's a great value because the sentiment is so bad that no one even knows it exists!

Look I get buying when there’s blood in the streets.  But Bitcoin is the only asset I am prepared to buy on the way down.  Everything else I like to see bottom and start moving back up again before I commit.  

[HairyMaclairy]

Bitcoin go up Bitcoin go down.  Reasons don’t matter.

Seriously. I guess it’s a whimsical market. The wind blows bitcoin explodes or collapses.

I’m baffeled. 

Good.  That’s very Zen of you.  Stop trying to understand it and just accept it and you will be much calmer.  Then work out how to make it profitable. 

[mesmerakyns]

People! buy into the dip... Price will bounce back to 10,000. Am buying more.

[becoin]

The transaction validators are always designed to centralize.

Go back to your cave, roachy! And learn what does "Essayeur Fondeur" or "Melter Assayer" mean in physical gold and silver world.

[Anon136]

I LOVE cryptocurrencies.

In addendum to what I said earlier, I'm surprised so many people fell for the profitable PoW idiot test:

You sure do like to make a lot of assumptions. No I prefer proof of stake. I long ago thought through it and came to my own determination that POS does in fact work. As much as I love fluffypony he is wrong about that one. I just don't let my preferences in that regard get in the way of making money and being involved in great projects. Even if you are correct in that it is a necessarily centralizing force, that centralization would still take time. Plenty of time to make lots of money speculating and make lots of transactions utilizing its capabilities. Again you cant push a silver coin through an ethernet cable. This sector is needed and as long as it is needed it will continue to exist and as long as it exists people are going to capitalize the best projects even if those projects are flawed.

[yonton]

Buy Bitcoin Private, Privacy is the most important part of crypto and BTCP has the best privacy tech in the world!

[JayJuanGee]

[realr0ach]

No I prefer proof of stake

Closed entropy systems do not have any value, which is what proof of stake is.  There's no difference in recursive systems and the banking system we already have equipped with permanent, static oligarchs.  That's why bitcoin also does not have any fundamental value, PoW just evolves into externalized proof of stake in practice:

https://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

[LFC_Bitcoin]

Buy Bitcoin Private, Privacy is the most important part of crypto and BTCP has the best privacy tech in the world!

[Anon136]

No I prefer proof of stake

Closed entropy systems do not have any value, which is what proof of stake is.  That's why bitcoin also does not have any fundamental value, PoW just evolves into externalized proof of stake in practice:

https://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

The entropy in a closed system would tend towards a more and more disordered state. It would move naturally from low entropy to a high entropy state. Without external forces inputting energy to lower the entropy back down. That would be a good thing inside a closed crypto system. Order is collusion. Order is cartels. Order is centralization. Order is balkanization/concentration of the units of account. Within the context of the internals of the closed system of course.

*edit* I admit I have never thought about the problem from this angle before until you put me on the spot right there. My appraisal of the viability of proof of stake did not factor in any theories about entropy.

[JayJuanGee]

Bitcoin go up Bitcoin go down.  Reasons don’t matter.

That is like one of the only true and accurate things in this bitcoinlandia.

[BTCMILLIONAIRE]

Bitcoin go up Bitcoin go down.  Reasons don’t matter.

Seriously. I guess it’s a whimsical market. The wind blows bitcoin explodes or collapses.

I’m baffeled. 

Have you read about the cyclones on Saturn? They'd make for a pretty accurate comparison to the winds that blow in the crypto world.