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Question: July 28 Closing Price:
<$3,000 - 6 (8.3%)
<$8,000 - 4 (5.6%)
$8,001-$8,500 - 2 (2.8%)
$8,501-$9,000 - 1 (1.4%)
$9,001-$9,500 - 11 (15.3%)
$9,501-$10,000 - 5 (6.9%)
$10,001-$10,500 - 7 (9.7%)
$10,501-$11,000 - 13 (18.1%)
$11,001-$11,500 - 6 (8.3%)
$11,501-$12,000 - 3 (4.2%)
$12,001-$12,500 - 4 (5.6%)
$12,501-$13,000 - 2 (2.8%)
$13,001-$13,500 - 1 (1.4%)
$13,501-$14,000 - 2 (2.8%)
>$14,000 - 2 (2.8%)
>$18,000 - 3 (4.2%)
Total Voters: 72

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21296104 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. (102 posts by 19 users deleted.)
Spaceman_Spiff_Original
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May 24, 2018, 05:12:09 PM

They do have too much power in their dev team who operates like a company and it will bite them but it could possibly make it easy for governments acceptance.

But... what if technology can't fundamentally support that "too much power" stuff ?

That's what we're starting to see with mETH, and the mETH-heads are too busy getting high on gas to see the forest through the trees.

The forest be burning, yo.
Ethereum isn't as great as people want to pretend, there isn't a lot of smart contracts actually being used. The saving grace of Eth is their switch to Casper, which we'll have all these environmentalist who don't understand anything about crypto but that Eth will use way less mining power now and they think it should be used instead of Bitcoin .

The big issue they're missing is Bitcoin miners are essentially building tons of infrastructure for these hydroelectric, geothermic areas and of course love solar and wind but fuck that logic.
Look, I am a big bitcoin enthusiast, but building infrastructure to use up more alternative energy is not energy-neutral or energy-positive (unless you assume there is some of scaling effect in which technologies only become developed after they grow large enough, and then you would assume that the added electricity demand is just what the world needed to get to that threshold, which seems unlikely) .  So no, bitcoin mining is not positive for the environment.  It might be that POW is the only good method for a cryptocurrency (I haven't really looked that deeply into other systems), but lets not create make-believe stories.
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May 24, 2018, 05:14:07 PM

I'm not a big fan of investing into precious metals with highly speculative markets, but BTC vs gold, I would choose gold. Bitcoin may be limited, but it is also easily replaceable. This makes it's value far more fragile.
With PoW vs PoS, the environment isn't an issue, but the cost of production is an issue. It's all about the numbers, talks about the environment is just for PR.
Gold's monetary utility is also easily replaceable... with bitcoin. We might see that play out over the next decades.
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May 24, 2018, 05:14:17 PM

Gold has no future because of the upcoming power abundance. Right now it is extremely inefficient to make gold which can be done but to produce 1 gram it would cost you a million dollars so digging it up is far more economical.
Bitcoin is limited does not matter how much free, very cheap power you have you cant produce more only push up the hash-rate to astronomical levels. Free or extremely cheap power you still need a unit of measurement to contact business. And the other thing prof of stake or any of the other stuff the carpet is ripped right out under there feed if power or environment is not an issue.
Trust me its on the way and or in place.

Your so full of shit.

By your own figures (which are inaccurate) power costs would have to reduce 99.96% just to break even on buying a mined, fully refined 1g gold.

And that doesnt even include the building and running costs of the new power plants then the nuclear reactors or particle accelerators required to produce the tiny amounts of gold.
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May 24, 2018, 05:17:39 PM

Can we go up now like crossing $20k and more

I'm still kicking myself for not selling off the rest of the coin I have loaded on the exchange when it last bounced off $11,500.

You could do worse, like shorting with leverage around 6800 and going long again around 9800...
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May 24, 2018, 05:29:03 PM

I'm not a big fan of investing into precious metals with highly speculative markets, but BTC vs gold, I would choose gold. Bitcoin may be limited, but it is also easily replaceable. This makes it's value far more fragile.
With PoW vs PoS, the environment isn't an issue, but the cost of production is an issue. It's all about the numbers, talks about the environment is just for PR.
Gold's monetary utility is also easily replaceable... with bitcoin. We might see that play out over the next decades.

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
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May 24, 2018, 05:29:58 PM

Everything is green dildo exept BTC and ethrium ...
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May 24, 2018, 05:36:11 PM

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.

Also, gold is impractical as a means of exchange, which hinders its "stickyness" and price stability.  
If bitcoin scales well and has increased adoption, it would become more stable.
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May 24, 2018, 05:38:53 PM

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.

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May 24, 2018, 05:41:05 PM

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.



No he's 100% right. Every school of economic thought other than Marxists, who still cling to the nutty labor theory of value, have given up non subjective theories of value. https://en.wikipedia.org/wiki/Subjective_theory_of_value
Spaceman_Spiff_Original
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May 24, 2018, 05:41:21 PM

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.


I am very serious.  In fact, maybe "value" is even a flawed word.  Something has properties, which give it utility, which can be desirable for someone.
Value is always subjective (see "a horse, a horse, my kingdom for a horse").
Jacques_Bittard
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May 24, 2018, 05:43:22 PM

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.


I am very serious.  In fact, maybe "value" is even a flawed word.  Something has properties, which give it utility, which can be desirable for someone.
Value is always subjective. (see "a horse, a horse, my kingdom for a horse").

So, you actually can't comprehend that gold has irreplaceable value in electronics?
Spaceman_Spiff_Original
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May 24, 2018, 05:45:33 PM

Gold isn't a very good monetary asset, since it's market is speculative and that makes it unstable. But bitcoin would be far worse, because unlike gold, it has virtually 0% intrinsic value. Stability is what the monetary system needs, because that is very important to develop the economy.
I think "intrinsic value" is bullshit.


I am very serious.  In fact, maybe "value" is even a flawed word.  Something has properties, which give it utility, which can be desirable for someone.
Value is always subjective. (see "a horse, a horse, my kingdom for a horse").

So, you actually can't comprehend that gold has irreplaceable value in electronics?
Strawman much?
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.
Spaceman_Spiff_Original
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May 24, 2018, 05:47:44 PM

you guys should edit the images with width=100 if you are going to quote each other back and forth
You are right, sorry. Fixed.
Jacques_Bittard
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May 24, 2018, 05:55:04 PM

Strawman much?
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.

Firstly, I said that bitcoin would be far worse to use as gold as an monetary asset, because it has no intrinsic value, and that creates more instability. Now when you are telling that intrinsic value doesn't exist, then you are either trolling me or just confused Smiley Intrinsic value is based on the important needs of society. Electronics is a very important need in today's society. Telling that intrinsic value of gold is bullshit, is saying that we could very well live without electronics. Yeah you could. There are plenty of people living like that in PNG, go visit them and see how well their economy is doing Smiley

Please don't try to provoke needless arguments with me. While talking with markj113, I really felt good that I'm talking to someone who isn't a religious fiend. Please don't ruin this experience for me Sad Bad intentions bring out the worse in me Sad
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May 24, 2018, 05:57:25 PM
Merited by BobLawblaw (1)

We don't need to read the charts to know when to buy the dip because Bittard shows up with diarrhea of the fingers every time!

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May 24, 2018, 06:10:40 PM

https://www.youtube.com/watch?v=oALKAh_bL5g
I hope that this lightens the mood Smiley I for instance am currently quite drunk Smiley
markj113
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May 24, 2018, 06:10:48 PM

Strawman much?
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.

Firstly, I said that bitcoin would be far worse to use as gold as an monetary asset, because it has no intrinsic value, and that creates more instability. Now when you are telling that intrinsic value doesn't exist, then you are either trolling me or just confused Smiley Intrinsic value is based on the important needs of society. Electronics is a very important need in today's society. Telling that intrinsic value of gold is bullshit, is saying that we could very well live without electronics. Yeah you could. There are plenty of people living like that in PNG, go visit them and see how well their economy is doing Smiley

Please don't try to provoke needless arguments with me. While talking with markj113, I really felt good that I'm talking to someone who isn't a religious fiend. Please don't ruin this experience for me Sad Bad intentions bring out the worse in me Sad

This shows the power of gold as a monetary asset.

This is my Double gold Doubloon from Spain's King Phillip II's rein in the 1500's.

It still has purchase power 500 years later due the gold content.



greensheep
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May 24, 2018, 06:15:35 PM

May the new gold be as successful as the old one! Cool
Jacques_Bittard
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May 24, 2018, 06:17:31 PM

Strawman much?
First off, I originally specifically said "Gold's monetary utility is also easily replaceable.", already taking into account that gold has other utility than just the monetary one.
Secondly, I was talking about the concept of intrinsic value in general.

Firstly, I said that bitcoin would be far worse to use as gold as an monetary asset, because it has no intrinsic value, and that creates more instability. Now when you are telling that intrinsic value doesn't exist, then you are either trolling me or just confused Smiley Intrinsic value is based on the important needs of society. Electronics is a very important need in today's society. Telling that intrinsic value of gold is bullshit, is saying that we could very well live without electronics. Yeah you could. There are plenty of people living like that in PNG, go visit them and see how well their economy is doing Smiley

Please don't try to provoke needless arguments with me. While talking with markj113, I really felt good that I'm talking to someone who isn't a religious fiend. Please don't ruin this experience for me Sad Bad intentions bring out the worse in me Sad

This shows the power of gold as a monetary asset.

This is my Double gold Doubloon from Spain's King Phillip II's rein in the 1500's.

It still has purchase power 500 years later due the gold content.





Nice pieces, but aren't their historical value higher then the value of their gold content?
markj113
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May 24, 2018, 06:18:21 PM

May the new gold be as successful as the old one! Cool

Indian Jones -Raiders of the lost ark II just wouldn't be the same with a paper wallet instead of a gold idol now would it Smiley





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