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Question: Closing BTC Price June 28:
$0 - 0 (0%)
<$7,000 - 0 (0%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 0 (0%)
$8,500-$8,999 - 0 (0%)
$9,000-$9,499 - 1 (33.3%)
$9,500-$9,999 - 2 (66.7%)
$10,000-$10,499 - 0 (0%)
$10,500-10,999 - 0 (0%)
$11,000-$11,499 - 0 (0%)
$11,500-$12,000 - 0 (0%)
>$12,000 - 0 (0%)
>$20,000 - 0 (0%)
Total Voters: 3

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21230831 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. (66 posts by 16 users deleted.)
jbreher
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May 20, 2018, 03:44:34 PM
Merited by cAPSLOCK (5)

If you read that twitter stream, to this day Charlie doesn't consider Litecoin a scam.

But often we need to reconsider what the definition of a scam truly is.

I mean, to make Litecoin he literally took a snapshot of the Bitcoin source code, changed like 2 easily-found config parameters, and launched it. And he admitted that it took him all of like a long Saturday to change and test it. He put almost zero effort into creating Litecoin. He created an altcoin of Bitcoin with a few clicks of a mouse. What he did, anyone could literally do with enough knowledge of the code.

So what part about that process and goal isn't scammy?

Methinks you need to ponder upon the definitions of 'open source' and 'permissionless'.
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May 20, 2018, 03:45:12 PM


If you would have any idea how hard is to get into that group that works for "Google Ideas" you would never say that. Each and every one in that group on the right has intellectual capacity you can only dream of. Jealousy is dangerous thing, when you want to be like someone but you don't have the necessary capabilities easiest thing to say is to bring them down, which only shows the kind of person you are.
Intelligence is not even close to the same thing as wisdom.
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May 20, 2018, 03:47:15 PM
Merited by cAPSLOCK (5)

This tweet from Charlie Lee has surprised me:

https://twitter.com/SatoshiLite/status/997978007875670016

He was millionaire before Bitcoin? Surprising. Anyone knows what he was doing before?

I think he worked at google right?

That would make for it yeah. Also probably he is older than he looks like (in fact in recent pictures he does).

If you read that twitter stream, to this day Charlie doesn't consider Litecoin a scam.

But often we need to reconsider what the definition of a scam truly is.

I mean, to make Litecoin he literally took a snapshot of the Bitcoin source code, changed like 2 easily-found config parameters, and launched it. And he admitted that it took him all of like a long Saturday to change and test it. He put almost zero effort into creating Litecoin. He created an altcoin of Bitcoin with a few clicks of a mouse. What he did, anyone could literally do with enough knowledge of the code.

So what part about that process and goal isn't scammy? Today when people do that with the Bitcoin source, we say that they're doing it for scammy or selfish purposes. But for some reason we give Charlie a pass because he's a nice guy, Bitcoin proponent, and no longer holds any LTC. (Little known fact: he once DID hold a metric shitload of LTC and probably made a million dollars selling some before LTC even hit $0.20c)
He didn't pretend it was the new bitcoin.
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May 20, 2018, 03:59:00 PM

Methinks you need to ponder upon the definitions of 'open source' and 'permissionless'.

Methinks you need to ponder the upon the definitions of 'scam', 'troll', and 'shill'. You seem to gravitate towards those things.
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May 20, 2018, 04:00:29 PM

He didn't pretend it was the new bitcoin.

No. But he did spend literally years opining that "Litecoin is silver to Bitcoin's gold." Which we all know is complete and utter bullshit since the two have zero correlation.
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May 20, 2018, 04:07:57 PM

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May 20, 2018, 04:13:22 PM

This tweet from Charlie Lee has surprised me:

https://twitter.com/SatoshiLite/status/997978007875670016

He was millionaire before Bitcoin? Surprising. Anyone knows what he was doing before?

I think he worked at google right?

That would make for it yeah. Also probably he is older than he looks like (in fact in recent pictures he does).

If you read that twitter stream, to this day Charlie doesn't consider Litecoin a scam.

But often we need to reconsider what the definition of a scam truly is.

I mean, to make Litecoin he literally took a snapshot of the Bitcoin source code, changed like 2 easily-found config parameters, and launched it. And he admitted that it took him all of like a long Saturday to change and test it. He put almost zero effort into creating Litecoin. He created an altcoin of Bitcoin with a few clicks of a mouse. What he did, anyone could literally do with enough knowledge of the code.

So what part about that process and goal isn't scammy? Today when people do that with the Bitcoin source, we say that they're doing it for scammy or selfish purposes. But for some reason we give Charlie a pass because he's a nice guy, Bitcoin proponent, and no longer holds any LTC. (Little known fact: he once DID hold a metric shitload of LTC and probably made a million dollars selling some before LTC even hit $0.20c)

Changing the algorithm from SHA256d to SCRYPT was a little more involved than changing a couple of parameters. But yes, something like this could definitely be done in 24 hours.
The creation of Litecoin stems from the emerging of more and more scamcoins like GeistGeld, ixcoin, Tenebix, Solidcoin....
To counteract Tenebixes 7.7 million premine  Faircoin was launched. Basically a 100% copy minus the premine, done in an instand. It was a rushed job just to deal with it. From then with a proper announcement and a little bit more work and thought Litecoin emerged. The prelaunch thread had 5000 views and a vote for best launch time (4 options). 

Quote
Quote from: molecular on August 17, 2011, 06:55:42 AM
The Egg of Columbus comes to mind. That's why nobody else did it and people that saw it early had all kinds of objections... "An egg of Columbus or Columbus's egg refers to a brilliant idea or discovery that seems simple or easy after the fact." A million bitcoins is the least he deserves. His "invention" is worth more than that if in the end, we have free money.

+1

I totally agree. I hope he becomes the richest man on earth. What Satoshi was able to come up with on his own was truly remarkable.

Quote
I actually believe what Satoshi came up with IS brilliant. And that's why I think he may not be one person. It takes someone who is great at math, economics, and computer science to come up with this. And his solution is also very thorough. I'm really surprised to see such a complete solution in a version 1 product. Know what I mean? When someone comes up with something this novel, normally, the first attempt will crash and burn. So I give Satoshi a lot of credit. He deserves every single bitcoin he owns.


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May 20, 2018, 04:14:18 PM

It looks like we are having a breakout from the descending broadening wedge due to the formation of a inverse head and shoulder in its 4 hour chart which I have not saw earlier. Target 1 would be 8,600-8,800$ if BTC breaks that we are off to the 9,000$ level again. Remember that this breakout happened in its 4 hour chart which means it might take long for BTC to go back up that level. There is still a possibility that this bis a bull trap so BTC needs to stay above 8,350$ for a while in order to stabilize a support.
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May 20, 2018, 04:31:38 PM

(big green dildo candle)

bob thanx you for that
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When 10K Lets HAT up!!!!!


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May 20, 2018, 05:26:53 PM



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May 20, 2018, 05:37:16 PM

This tweet from Charlie Lee has surprised me:

https://twitter.com/SatoshiLite/status/997978007875670016

He was millionaire before Bitcoin? Surprising. Anyone knows what he was doing before?

I think he worked at google right?

That would make for it yeah. Also probably he is older than he looks like (in fact in recent pictures he does).

A million dollars isn’t that much in the scheme of things.  That’s half a house in Vancouver, Canada.   Probably a third of a house in Silicon Valley.   It’s not even a downpayment in London unless you are an hour from the City.

It's not that much if you need to be in one of those places you listed. Where, if you are, you will be paid well enough to be able to afford it (out of necessity) but will still only have a lifestyle on par with someone making 1/5th of your salary elsewhere. A really comfortable retirement starting at age 30 only requires about 2 million though. So it's not that a million is a small amount of money so much as it's that the particular examples you gave are WAY overpriced. For reference you need about 7 million dollars in assets to be in the american 1% and about 3 million to be in the global 1% (those figures assume that you have only assets and no income).

But yea there is a sense in which you are absolutely right. A lot of very financially illiterate people have very bad misconceptions about what a million dollars means. They will play a lottery that promises to pay out a million dollars and think if they could just win than they could live like an elite and never have to work again, which of course is not even close to accurate. It's also why everyone who wins the lottery blows through it all in a couple years, they think they won WAY more than they actually did.
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May 20, 2018, 05:50:05 PM

It's also why everyone who wins the lottery blows through it all in a couple years, they think they won WAY more than they actually did.
indeed... and the fact most are understandably clueless at financial management.
After all, hookers and blow has a fairly poor ROI.
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May 20, 2018, 05:59:40 PM

Target 1 would be 8,600-8,800$ if BTC breaks that we are off to the 9,000$ level again.
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May 20, 2018, 06:05:25 PM

worth getting out of bed for
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May 20, 2018, 06:07:13 PM

Target 1 would be 8,600-8,800$ if BTC breaks that we are off to the 9,000$ level again.


Everytime it breaks $9000 somebody on reddit creates a topic and says "this is the last time we see btc under $9k" and then few days later we go under $9k again.

I think they are dumping on us and like many told before they'll keep dumping it till we hit below $5k. They probably have enough bitcoins to give us 2-3 painful years before the next big boom.
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May 20, 2018, 06:08:44 PM
Merited by cAPSLOCK (5), LFC_Bitcoin (1), bones261 (1)

These areas continue to resonate with me. A sharp downward consolidation followed by sideways and upward accumulation. We are either at the end of a long generic whip crack or at the beginning of a upwards wave A(?) if your into that EW stuff. You could even call it a cup and handle if you look at it just right..   Grin    
Not the greatest SL but maybe a bottom perhaps? It feels like a bottom. I think the time for cheap corn is getting close to the end..we might not look back once we pass into 5 figures.

It looks like we might be testing the upper $8k's soon.  Hodling here at $8.5k or breaking above $8.65k on the daily candle would be confirmation imho.

#dyor

#btfd

#stronghands

Have a great week everyone. We are almost through the worst of it I do believe.
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May 20, 2018, 06:24:58 PM
Merited by bones261 (1)

It's also why everyone who wins the lottery blows through it all in a couple years, they think they won WAY more than they actually did.
indeed... and the fact most are understandably clueless at financial management.
After all, hookers and blow has a fairly poor ROI.
I'm not sure about hookers (unless they're yours), but blow can make a very healthy RoI if used properly.
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May 20, 2018, 06:58:13 PM

This tweet from Charlie Lee has surprised me:

https://twitter.com/SatoshiLite/status/997978007875670016

He was millionaire before Bitcoin? Surprising. Anyone knows what he was doing before?

I think he worked at google right?

That would make for it yeah. Also probably he is older than he looks like (in fact in recent pictures he does).

A million dollars isn’t that much in the scheme of things.  That’s half a house in Vancouver, Canada.   Probably a third of a house in Silicon Valley.   It’s not even a downpayment in London unless you are an hour from the City.

It's not that much if you need to be in one of those places you listed. Where, if you are, you will be paid well enough to be able to afford it (out of necessity) but will still only have a lifestyle on par with someone making 1/5th of your salary elsewhere. A really comfortable retirement starting at age 30 only requires about 2 million though. So it's not that a million is a small amount of money so much as it's that the particular examples you gave are WAY overpriced. For reference you need about 7 million dollars in assets to be in the american 1% and about 3 million to be in the global 1% (those figures assume that you have only assets and no income).

But yea there is a sense in which you are absolutely right. A lot of very financially illiterate people have very bad misconceptions about what a million dollars means. They will play a lottery that promises to pay out a million dollars and think if they could just win than they could live like an elite and never have to work again, which of course is not even close to accurate. It's also why everyone who wins the lottery blows through it all in a couple years, they think they won WAY more than they actually did.

Still, having a net worth over 1 million with less than 30 years is a great start. And not something that usual even if there are places where $X00.000 salaries are frequent.

The other day I was reading some article that states that there are many people making those salaries and living from paycheck to paycheck with almost no savings beyond 401k. Here is the article: https://www.cnbc.com/2018/03/06/budget-breakdown-of-a-couple-that-makes-500000-a-year-but-cant-save.html

I supposse there must be a lot of exaggeration and sensationalism in it, but still..... The biggest joke in that "budget" is buying the car with credit....
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May 20, 2018, 06:59:23 PM

It's also why everyone who wins the lottery blows through it all in a couple years, they think they won WAY more than they actually did.
indeed... and the fact most are understandably clueless at financial management.
After all, hookers and blow has a fairly poor ROI.

Actually, the main problem with many lotto winners is they end up trusting the wrong people and get scammed. Another problem is that they end up being too generous with family and friends who are looking for handouts.
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May 20, 2018, 07:01:30 PM
Merited by mindrust (2), PoolMinor (1)

Target 1 would be 8,600-8,800$ if BTC breaks that we are off to the 9,000$ level again.


Everytime it breaks $9000 somebody on reddit creates a topic and says "this is the last time we see btc under $9k" and then few days later we go under $9k again.

I think they are dumping on us and like many told before they'll keep dumping it till we hit below $5k. They probably have enough bitcoins to give us 2-3 painful years before the next big boom.

It is mt. gox damn it....from what I figure they have to dump $240 million in usd of BTC a month, to get the liguidation done by the end of this year....*them

trustees want their cut and the Japanese Gov't wants this all over with)

thus, we will go to 9k and drop to 7k and rinse wash repeat for a month or two...then the mt. gox trustees will have a timeline, say end of the year and we will

drop to 4k ...it is gonna suck!

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