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

[kurious]

Yeah, not sure why you all don't just put your money in traditional financial instruments and institutions. Not sure about this whole "cryptocurrency" thing. IDK. Just doesn't seem real.

General Electric should be the poster child for the whole corrupt "We're-doing-great-and-our-stock-is-flying-oh-shit-now-its-tanking" financial establishment. They'll all be doing great up until the day, the very minute they run out of money to buy back their own stock.

GE one month : "We're doing great! Earnings are up! Stock is up!"

GE the next month : "Oh shit, suddenly we're out of cash! Our debts exceed our free cash! We've been hiding our revenue losses with shady accounting and cooked books. Shit! Time to cut our stock and dividend in half. Get rid of the CEO! Jettison everything! Lay off thousands!"

Of course the executives are the only ones who get a golden parachute. Everyone else gets a pink slip.

So... Forgive me, Torque - but it begs this philosophical question:  Isn't this just unfettered capitalism in action?

Don't get me wrong, I am not trolling you or trying to catch you out.

But...  

We seem to be at the peak of a long era of 'laissez faire' rampant capitalism - which has just produced debt slavery for the world's masses and incredible wealth and power for the few.  Without any alternative competing systems to rein it all in since the 'victory' over communism and socialism, we simply seem to have completely accepted modern capitalism 'raw in tooth and claw'.

I actually agree with most of what you say here and basically it's obvious the current system is corrupt to the core - and on a simple, human level - yes, patently unfair.

So if it's not working for the common good - do we tear it all down, or are we just trying to make sure we are getting a slice of the pie?

Just wanting to be rich is 'joining them, not beating them'.  Wanting to change it requires new ideas, new heroes thinking of new ways - and people prepared to be part of the solution, not just wannabes who want to be part of the elite that cause the problem - with lambos to prove it.

Is parachutes for the rich and pink slips for the ordinary Joes ok?

Or not.

I am not pretending I have an answer to this and I am part of this system by default, but I would be interested in your thoughts

[Rosewater Foundation]

She got 200 BTC for it.

Those were the days.

[kurious]

Here's a great analysis: https://fewcoins.io/news/bitcoin-price-analysis-still-bleeding-2807
Includes lots of fundamental and technical analysis.

Great find and a good read. I will have to it read again in the morning to really take it in - but it's an interesting fresh take.

[Last of the V8s]

A million quid for a tattoo on your froufrou. I do hope she kept at least some of that.

[infofront]

I find it a little odd he asked so many personal questions in his first message.

HI SATOSHI I R PROGRAMMAR TOO
WHAT'S YOUR SOCIAL SECURITY NUMBER, FULL LEGAL NAME, DATE OF BIRTH, AND MOTHERS MAIDEN NAME?

BTW I HELP OUT THE CIA BUT IT'S TOTALLY COOL

[bitserve]

I find it a little odd he asked so many personal questions in his first message.

HI SATOSHI I R PROGRAMMAR TOO
WHAT'S YOUR SOCIAL SECURITY NUMBER, FULL LEGAL NAME, DATE OF BIRTH, AND MOTHERS MAIDEN NAME?

BTW I HELP OUT THE CIA BUT IT'S TOTALLY COOL

Well, if he was really on an assignment he wouldn't have been that straight in his first interaction... nor he would have used his real identity in this case.

Maybe the guy was just feeling lonely or something... I read it more like "Hi Satoshi, you are cool, me too, wanna be my new best friend?"

Odd yes... A bit gay too.

[jojo69]

[Last of the V8s]

I find it a little odd he asked so many personal questions in his first message.

HI SATOSHI I R PROGRAMMAR TOO
WHAT'S YOUR SOCIAL SECURITY NUMBER, FULL LEGAL NAME, DATE OF BIRTH, AND MOTHERS MAIDEN NAME?

BTW I HELP OUT THE CIA BUT IT'S TOTALLY COOL

Well, if he was really on an assignment he wouldn't have been that straight in his first interaction... nor he would have used his real identity in this case.

Maybe the guy was just feeling lonely or something... I read it more like "Hi Satoshi, you are cool, me too, wanna be my new best friend?"

A bit gay too.

Or ... he forged it 2 years later to show off to his new handlers that he was capable of double-bluffing the great satoshi.
Or ... as a warrant canary to us.
Or ... he's an idiot. A bit gay too.

[regent4]

https://i.imgur.com/rBV5cjc.png

no change to view on daily.

http://blockchainshowdown.blogspot.com/2018/06/btc-usd-27th-june-218.html

[TERA2]

[babanana]

TERA sold too early during December pump. Tera's nocoiner now. Hoping to get back in at lower price. You wish. LOL 
sold 500+ BTC right there at 18k, BOOM. Now sitting happily laughing at you.

[Rosewater Foundation]

Glib and uninspired. TERA2 might be the weakest troll we've had. No gumption. What's wrong, little lady? Lemon party too far for you?  

[Elwar]

We seem to be at the peak of a long era of 'laissez faire' rampant capitalism - which has just produced debt slavery for the world's masses and incredible wealth and power for the few.  Without any alternative competing systems to rein it all in since the 'victory' over communism and socialism, we simply seem to have completely accepted modern capitalism 'raw in tooth and claw'.

Give me a call when that era of laissez faire rampant capitalism starts instead of the socialist/communist system we're currently under.

[Anon136]

long era of 'laissez faire' rampant capitalism

This has to be a joke  . There is more government regulation and red tape today than there ever has been. Taxes on anyone who is actually productive are crippling while the unproductive are subsidized. The landscape is dominated by megalithic corporations because individuals and smaller firms lack the economy of scale to comply with the profoundly onerous burden of regulatory compliance. And from this you perceive laissez faire... How... just how...

[Torque]

Yeah, not sure why you all don't just put your money in traditional financial instruments and institutions. Not sure about this whole "cryptocurrency" thing. IDK. Just doesn't seem real.

General Electric should be the poster child for the whole corrupt "We're-doing-great-and-our-stock-is-flying-oh-shit-now-its-tanking" financial establishment. They'll all be doing great up until the day, the very minute they run out of money to buy back their own stock.

GE one month : "We're doing great! Earnings are up! Stock is up!"

GE the next month : "Oh shit, suddenly we're out of cash! Our debts exceed our free cash! We've been hiding our revenue losses with shady accounting and cooked books. Shit! Time to cut our stock and dividend in half. Get rid of the CEO! Jettison everything! Lay off thousands!"

Of course the executives are the only ones who get a golden parachute. Everyone else gets a pink slip.

So... Forgive me, Torque - but it begs this philosophical question:  Isn't this just unfettered capitalism in action?

Don't get me wrong, I am not trolling you or trying to catch you out.

But...  

We seem to be at the peak of a long era of 'laissez faire' rampant capitalism - which has just produced debt slavery for the world's masses and incredible wealth and power for the few.  Without any alternative competing systems to rein it all in since the 'victory' over communism and socialism, we simply seem to have completely accepted modern capitalism 'raw in tooth and claw'.

I actually agree with most of what you say here and basically it's obvious the current system is corrupt to the core - and on a simple, human level - yes, patently unfair.

So if it's not working for the common good - do we tear it all down, or are we just trying to make sure we are getting a slice of the pie?

Just wanting to be rich is 'joining them, not beating them'.  Wanting to change it requires new ideas, new heroes thinking of new ways - and people prepared to be part of the solution, not just wannabes who want to be part of the elite that cause the problem - with lambos to prove it.

Is parachutes for the rich and pink slips for the ordinary Joes ok?

Or not.

I am not pretending I have an answer to this and I am part of this system by default, but I would be interested in your thoughts

I really can't answer this or expound on my thoughts right now because it would require a book. And I'm too tired to write a book, and of course I don't want to be accused of adopting JJG level walls of text, lol.

Suffice to say, it wouldn't have become run away rampant predator capitalism if corruption hadn't be allowed to infiltrate the entire system.  Even prominent hedge fund managers don't know what the fuck is going on anymore, nothing makes any sense. Some sanity would come back to the markets if:

1. Gov't needs to stop actively managing the markets through Fed and CB intervention (just look at the bond market, it's ridiculous.. comical. Who's fkn buying that shit?)

2. End stock buybacks - they used to be illegal, most people don't even know that

3. More transparency in corporate earnings reporting - end the loopholes and fuzzy accounting practices

4. CEOs and executives need WAY more accountability for company performance and earnings - quit rewarding them for bad behavior

5. Let the fucking equities market have it's bear market for gods sake. Quit propping it all up by tethering everything to FAANGs and then constantly goosing the FAANGs with CB fiat money

[infofront]

[jojo69]

It's a catch 22 kurious.

You create some structure to contain the beast and within a couple generations the barons you sought to rein in will have seized those very reins and turned the tools you created against you.

I am not saying we would have a better time in anarchy, but at least the asshole with his boot on your head would not be able to clothe his actions in the pretty lies of the state.

[infofront]

Glib and uninspired. TERA2 might be the weakest troll we've had. No gumption. What's wrong, little lady? Lemon party too far for you?  

There are few things more entertaining than a good troll.
It's disappointing that the level of trolling has been so low for so long now. One would think there'd be plenty of fodder what with the recent lows and all.
But the best we get is Mark, that guy with the lambo.

[smartcomet]

https://medium.com/coinmonks/hyperbitcoinization-winner-takes-all-69ab59f9695f

Hyperbitcoinization: Winner Takes All
(or how Bitcoin gets to $100,000,000)
...

Socially Wired Money
Our connected world collapses time and space. Today an individual with robust social media connections can potentially reach millions of people across the globe. Influencers drive followers to adopt, buy and co-promote products and ideas to their own social circles in near real-time. Consumers trust peer recommendations over any other form of advertising.

[jojo69]

what's the blue line?