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

[Last of the V8s]

There is a limit on how far you can disconnect fundamentals from trading. If someone can make a case for the price rising with inflows slowing down what is it? Once I make it to Jr member I promise to only post in a more enjoyable image-based meme form.

Why do you assume inflows will slow? Everyone wants in, you said, you know, the 'shoe-polishers'....

You can buy the license to meme - look for copper membership.

Oh and why do you lie?

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[rolling]

https://twitter.com/SexyPinkMoule/status/975896239630897158 short video
''Other cryptocurrencies are downright scams...like Bcash''-@jhamel's Testimony to the Canadian Standing Committee on Finance FINA

Awesome!

[JayJuanGee]

[edited out]

 .......... I can't believe you got merit for berating me over it.  ......

We should not be sensitive over the choices of others on the interwebs, right?

[Elwar]

Not sure if today is historic but I think I may have made the first bitcoin trade in French Polynesia. I'm sure there may have been some sailors at bars showing someone how it works or whichever. But I did a localbitcoin trade and I have kept my eye on the FP market on localbitcoins for the past year and nobody was selling.

I do know that some locals have crypto, I met up with the local blockchain group. But they have to send their money off to a bank account in Europe then send it to Kraken to get their BTC. All with high fees. Well, actually I charge high fees too (because that's what you do when you have a monopoly on a market and can get away with it). I actually welcome competition and a thriving bitcoin community. Maybe my high fee will encourage some local that it is a good way to make money.

French Polynesia has a $5 billion GDP. So...time for the seed to spread and convert that $5 billion into bitcoins for future generations to enjoy.

[nanobtc]

Goat’s one started all this IIRC, but he didn’t drive it - he just containered it home to Thailand where he could sell it for a quick double

With all due respect, you are mistaken. He drove it to see his brother, about a 2 hour drive. I used to have pics, but I think I lost them in that terrible canoe accident. I tried to get him to come see me play live music near there (a packed blues jam, in a non-town of 50 people), but it was a long and curvy rural blacktop, and the weather/road surface was bad, for that winter.

[Elwar]

I don't know why everyone obsesses about governments regulating Bitcoin.


Ever since I figured out it was a good thing I assumed they would eventually try. But I also realized that once you have them they can't do shit about that.

That was a big motivator to get as many as possible while still possible.

The music will stop and those holding fiat will be the ones that lost.

[Paashaas]

https://twitter.com/SexyPinkMoule/status/975896239630897158 short video
''Other cryptocurrencies are downright scams...like Bcash''-@jhamel's Testimony to the Canadian Standing Committee on Finance FINA

Awesome!

Looks like it’s official now 

[TERA2]

Pagecount has passed ATH.. 11 pages til 20K.

[pacman7331]

Pagecount has passed ATH.. 11 pages til 20K.

That’s it. I’m shorting full leverage.

[Micky25]

Pagecount has passed ATH.. 11 pages til 20K.

That’s it. I’m shorting full leverage.

So.. we go back to 3k soon?

[Elwar]

Pagecount has passed ATH.. 11 pages til 20K.

That’s it. I’m shorting full leverage.

Shorting pagecount?

[HairyMaclairy]

Have you looked at the volume of shitposts on the bounce?  Stupid bear REKT.  

[promomei]

any good news from G20 

[Elwar]

any good news from G20 

The only good news from government is when they don't do much. Which was the case this time.

[Lopumbo]

Without fresh money to pay off old holders the price cannot continue to rise.

That would have been a pyramid scheme, which bitcoin is absolutely not.

Bitcoin roughly follows Metcalf's law:
"The value of a .... network is proportional to the square of the number of connected users of the system (n2)."

Therefore, to increase in value 1000fold, you only need to increase the number of users about 31.6 fold.
I doubt that there are 30 mil active bitcoin users, but even if there are, 900mil out of 7bil is a possibility (eventually).
I think that someone projected $2-5mil btc with about 400mil active users.

BS - metcalf's law is about efficiency - and we all know how Bitcoin behaves with more users

Bluebits is right - its a pyramid and unsustainable through itself - there has to be a constant! inflow of money to keep the price on point! - absurd - If everyone HODLs price will decline
There's even that MtGox study which shows that without blatant manipulation price almost always declines. And this is what we are seeing the whole time.
Price declines - pump it up through wash-trading, spoofing, tethers - price declines - repeat

[Dakustaking76]

Last 10 pages are very critical

[promomei]

any good news from G20 

The only good news from government is when they don't do much. Which was the case this time.

but if they say yes , more whales coming to crypto world witch is good for me 4 sure XD

[Elwar]

Without fresh money to pay off old holders the price cannot continue to rise.

That would have been a pyramid scheme, which bitcoin is absolutely not.

Bitcoin roughly follows Metcalf's law:
"The value of a .... network is proportional to the square of the number of connected users of the system (n2)."

Therefore, to increase in value 1000fold, you only need to increase the number of users about 31.6 fold.
I doubt that there are 30 mil active bitcoin users, but even if there are, 900mil out of 7bil is a possibility (eventually).
I think that someone projected $2-5mil btc with about 400mil active users.

BS - metcalf's law is about efficiency - and we all know how Bitcoin behaves with more users

Bluebits is right - its a pyramid and unsustainable through itself - there has to be a constant! inflow of money to keep the price on point! - absurd - If everyone HODLs price will decline
There's even that MtGox study which shows that without blatant manipulation price almost always declines. And this is what we are seeing the whole time.
Price declines - pump it up through wash-trading, spoofing, tethers - price declines - repeat

Welcome to Bitcoin!

Have you read the white paper?

Here you go
https://bitcoin.org/bitcoin.pdf

It's a great place to start in your quest to understand Bitcoin.

[Elwar]

any good news from G20  

The only good news from government is when they don't do much. Which was the case this time.

but if they say yes , more whales coming to crypto world witch is good for me 4 sure XD

Just remember what the whales did to gold in the US. Perhaps they can have another meeting on Jeckyll Island about how to help you with your bitcoins.


You also get the legacy finance folks seeping into our thread about Bitcoin talking about ponzi schemes.

[greensheep]

Pagecount has passed ATH.. 11 pages til 20K.

It's an omen!