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

[HairyMaclairy]

SEC Chairman - Bitcoin is not a security but almost all tokens are.  Silent on ETH.

https://coincenter.org/link/sec-chairman-clayton-bitcoin-is-not-a-security

[TERA2]

Go look at btc dominance and tell me more about a limited supply.

[Arriemoller]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

[mymenace]

Well I for one do believe that we will see USD 1M within five years.
And I still believe we will se USD 80k end of year.

Thanks for answering. C'on people don't be shy and express your feelings about it.

10 years is too soon.  $1 million in 12 years - after 3 halvenings.  

based on s curve and wave adoptions mathematically the next wave is

2013 $100
2014 $1000
2017 $10000
2018 $100000
2021 $1000000
2022 $10000000

I imagine anywhere from now and onwards BTC could simply be replaced or saturated with other markets

resulting in a cap somehwere

[Arriemoller]

Well I for one do believe that we will see USD 1M within five years.
And I still believe we will se USD 80k end of year.

Thanks for answering. C'on people don't be shy and express your feelings about it.

10 years is too soon.  $1 million in 12 years - after 3 halvenings.  

based on s curve and wave adoptions mathematically the next wave is

2013 $100
2014 $1000
2017 $10000
2018 $100000
2021 $1000000
2022 $10000000

I imagine anywhere from now and onwards BTC could simply be replaced or saturated with other markets

resulting in a cap somehwere

That's pretty much what I believe as well.

[HairyMaclairy]

Go look at btc dominance and tell me more about a limited supply.

Show me a coin other than BTC, ETH or XMR that deserves to have a value above zero.

[Last of the V8s]

really need a better v-bottom before investing that much

[luckygenough56]

you can print dollars but you can print altcoins as well.

Same thing, always a way to print. Don't be fools.

[hodl_2015]

Go look at btc dominance and tell me more about a limited supply.

Show me a coin other than BTC, ETH or XMR that deserves to have a value above zero.

Euro's (as long as scrap metal prices stay above zero)

[TERA2]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

[vapourminer]

Well I for one do believe that we will see USD 1M within five years.
And I still believe we will se USD 80k end of year.

Thanks for answering. C'on people don't be shy and express your feelings about it.

10 years is too soon.  $1 million in 12 years - after 3 halvenings.  

as long as the price hits the point where the wife and i can afford boosterspice (a not yet invented drug that stops aging - see larry niven novels) i will be happy.

[HairyMaclairy]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

There will come a point when every single ERC20 hasn’t delivered on its roadmap and people will start to wisen up.  As one example, the market is saturated with Storj copycats.  You aren’t going to get people excited about decentralized storage anymore.  

All “X on a blockchain” are shitty ideas except currency and tokens representing assets.

There are no decent competitors in the currency space except possibly XRB which has got nightmare scaling problems. ETH seems to have the tokens market sewn up.  XMR is leading the privacy currency space. Lightning, if consumer friendly, will do away with the need for LTC.  

I haven’t seen any convincing arguments about why VEN needs a blockchain and how they will stop corrrupt data being entered onto the chain. BCH, EOS and ADA are obvious scams, IOTA couldn’t untangle itself from a wet paper bag and I don’t need to discuss XRP, XLM or TRX.  

There really isn’t anything else useful or helpful that I have seen anywhere in the cryptosphere.  Happy to be told I am wrong and am missing things and for those things to be pointed out.

[mindrust]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

That's where user adoption becomes important.

They don't have to use bitcoin but not all sellers will be accepting and building infrastructure for every shit coin there is. The winner in the space is obviously bitcoin. Rest are scams which are trying to trick you into buying shitcoins while giving the hopes of getting more bitcoins later.

Like hairy said, there simply shouldnt be any other coin above zero other than XMR, BTC and ETH right now but there are. Because free market & competition.

If EOS (or the other competitor) convinces people into using their platform rather than using ETH, ETH will die.

Same can happen to bitcoin too *god forbid* if bcash succeeds.  

When the markets gets saturated, when these big projects suck every FIAT in, when there is no room for growth left for the crypto industry, only then these small coins will die.

While we are in a major crypto bull market, nobody should be expecting of any competing projects to die easily unless it is an obvious ponzi scheme like bitconnect. (which lasted very long btw)

[TERA2]

Bitcoin may be the first mover. Bitcoin may be able to integrate features of other coins. Bitcoin may DESERVE to be the only coin. But the fact of the matter is that nobody is forced to use the real bitcoin, and most people dont even know what a real bitcoin is nor would they feel any moral obligation to use the real bitcoin even if they knew what it was, ESPECIALLY if another coin confirms faster or is easier to use. I am guilty of using alts myself just for exchange transfer (but not holding). USD is the main currency in the US because of laws. There is no such law for Bitcoin. There is no way we can force or compel the average user to use the real bitcoin. There isn't a technical solution for this. That's a job for social engineering which is not our specialty and the competition will have that locked down.

[El duderino_]

Go look at btc dominance and tell me more about a limited supply.

Show me a coin other than BTC, ETH or XMR that deserves to have a value above zero.

I would Just be thinking for This moment the alts that i have  ....... but to be very clear i have about 90% or more in BTC

[El duderino_]

Set a goal in life, figure out how much money you need to do it, and stick to the plan.

When bitcoin breaks 10k again I'm moving to Thailand to become a full-time monger.

You can be faster in Thailand than you know 

[Arriemoller]

Go look at btc dominance and tell me more about a limited supply.

Show me a coin other than BTC, ETH or XMR that deserves to have a value above zero.

Kittehcoin, because kitties are soo cute.

[Arriemoller]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

That's like saying that the price of a Rolex will tank if there are too many other watch brands on the market.
The price of a Rolex has nothing to do with the price or volume of a Timex.

[TERA2]

Go look at btc dominance and tell me more about a limited supply.

I don't understand the question.
BTC dominance have nothing at all to do with the price.

The relevance is, if someone wants to use crypto they are not forced to use bitcoin, and altcoins absorb market cap that bitcoin could have had, lowering bitcoin's price in the long run and also removing arguments about scarcity because crypto is anything but scarce now.

That's like saying that the price of a Rolex will tank if there are too many other watch brands on the market.
The price of a Rolex has nothing to do with the price or volume of a Timex.

Rolex watches are collectors items (not utility) and timex watches are used for telling time. Rolex and timex are not in any competition or similarity at all. The total market cap of all rolex watches is less than $1B and money supply is not a limiting factor. Rolex and timex are not competing to be the entire money supply. This analogy makes no sense.

[mindrust]

Rolex watches are collectors items (not utility) and timex watches are used for telling time. Rolex and timex are not in any competition or similarity at all. The total market cap of all rolex watches is less than $1B and money supply is not a limiting factor. Rolex and timex are not competing to be the entire money supply. This analogy makes no sense.

Actually it kinda makes sense to me. If Nobody buys Rolex, Rolex as a company that mints Rolexcoins will go out of business.

Just like Gibson as a guitar company who mints GibsonCoins is about to go out of business because nobody's buying their overpriced coins anymore while there are Chinese/Japanese models which do the same thing (creating sounds) for a lot cheaper price.

https://www.cnbc.com/2018/02/19/guitar-company-gibson-reportedly-facing-bankruptcy.html