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June 21, 2019, 12:57:14 AM *
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Question: Closing BTC Price June 28:
$0 - 1 (1.7%)
<$7,000 - 2 (3.4%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (1.7%)
$8,500-$8,999 - 3 (5.1%)
$9,000-$9,499 - 4 (6.8%)
$9,500-$9,999 - 14 (23.7%)
$10,000-$10,499 - 12 (20.3%)
$10,500-10,999 - 3 (5.1%)
$11,000-$11,499 - 4 (6.8%)
$11,500-$12,000 - 4 (6.8%)
>$12,000 - 8 (13.6%)
>$20,000 - 3 (5.1%)
Total Voters: 59

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21231782 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.)
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June 21, 2018, 03:55:15 AM

Anyone got experience with the stuff Alex Jones sells?

Coke?
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June 21, 2018, 04:02:08 AM
Merited by bones261 (2)

Just a few things I have spotted today.

There was a some volume spikes over the last 36 hours or so that piqued my interest somewhat. As illustrated on the chart, they were moderate spikes in buying and selling. What catches my attention is the selloffs. All those coins where scooped up with the price staying relatively flat. More recently the cloud is showing a nice ramp forming instead of a vertical wall. Healthy(er) market conditions forming imho. #dyor





---------
Can anyone please explain what is this list about? and how its generated?

The goose started some price guessing games a few months back..these are the contenders still involved and those that guessed wrong with the sad faces.
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June 21, 2018, 04:08:51 AM

Anyone got experience with the stuff Alex Jones sells?

Coke?
Turns out the water is turning the frogs gay after all. So why not?
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June 21, 2018, 04:23:45 AM

The fair market value of anything based on artificial scarcity is obviously zero.

Apparently, $300 billion dollars says it's not obvious.

The fair market value of anything is what the market is actually paying for it.

The problem with you people and your bitcoin propaganda is that all the propaganda you attempt to use to justify any type of valuation for bitcoin would also justify valuation of fiat.  In reality, both fiat and bitcoin are based on artificial scarcity and neither have value.
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June 21, 2018, 04:47:43 AM

Anyway, don't put the iodine in a glass of water because the entire glass of water will taste terrible and it becomes a chore to drink it all every day.  It's better to put it in a shot glass with half an ounce of water or juice.  Honestly though, I've been taking a drop of iodine daily for a few months now and I don't feel any differently.  I'm going to have to kick it up a notch.

Not a chore for me at all; use it to gulp down my vitamins and prescriptions every morning. Getting used to the taste. Almost becoming a "pleasantly medicinal bouquet"

I've tasted much, MUCH worse. Trust me on that one, brother.

Looking to increase to two drops per glass every morning starting next week.

 Thanks.  I'm going to try it.  I feel more lethargic than usual after night shifts these days.


not sure I buy this idea. I don't have a thyroid since I was 16 years old. I take Synthroid and have my thyroid checked every year by blood test in case it goes too low.

Sounds to me the Iodine trick is simply messing with thyroid...if it works...I'd simply have it checked and get Synthroid if you need it to 'rev you back up to spec'

anyway, my 2c ...and no w/o a thyroid gland the iodine would do zip for me..thus my suspicion that ....folk that get improvement and needs their thyroid checked...I use

a large dose in that my thyroid is gone, the pill is tasteless and the size of a baby aspirin and also cheap. your co-pay costs more than the drug a month ...its like 50 bucks

for 3 months or some such ...and again...I'm at the top end of dosage...most folk will be much less...if you need it ..you take it daily... I also take a baby aspirin in that already

taking the Synthroid, so no strain...to do that as well...

Anyway, with the 'improvement's' stated..if you do or don't do them...I'd look into this as well as a much more likely reason you are feeling run down etc

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June 21, 2018, 05:02:04 AM

If by any chance you are reading "Tether Transparency Update which Confirms 1:1 USD Backing", issued by Freeh, Sporkin & Sullivan LLP (FSS).

Please don't fall for it... there is much more hidden than revealed in this report; just read these top comments on the reddit and you will understand how deceiving this report is.

Comment#1
CPA here. Former Big 4 Auditor. Have done said cash confirm procedures many times. Wanted to a share a few thoughts, FWIW.

  • Cash Confirm Procedures.

These simply confirm a cash balance. The "unencumbered" written in the report after each balance is awkward, with no clarification as to the definition in the context of the report. I personally interpret that to mean unrestricted, non-escrow account, which I would expect this entity to hold their cash in--doesn't give me any additional confidence whether it was stated or not.

It's important to note that without a full audit, you're only seeing a third of the balance sheet categories right now. We have no information as to the entity's liabilities, and let's ignore equity for this discussion.

Without a full audit, we have no evidence that the entity has net assets. They could have $1 or $2.5B in liabilities, for all we know, thus rendering the true cash backing USDT (net of liabilities) unknowable

In my professional opinion, I do gain some confidence from the cash balances reported, but seeing only a portion of the balance sheet, the cash balances do little for me overall.

Additional note: the sentence in the report: "FSS did not provide the Tether personnel with any advance notice, nor did FSS provide Tether the account balance information gathered from the two banks prior to receiving the Tether balance information."

This also means nothing to me... The "advanced notice" portion is useless--Tether contracted FSS thus they know the procedures will occur. Also, Tether not providing FSS the bank balances and vice versa also means nothing--in fact, in a normal financial statement audit, you often are provided the balance by the client which you are confirming with the bank, which is totally legitimate. The fact that they didn't share balances doesn't give me any additional confidence, but seems written as if it's supposed to provide an uneducated reader such confidence.

  • Choice of firm used

Strange to me that a legal firm is performing an accounting firm's role. An entity this large can easily afford a Big 4 accounting firm to perform these procedures. Or even a mid-sized firm, which would provide investors greater confidence over the report. While cash confirm procedures aren't very difficult, would you rather have a plumber or an electrician wire your house?

Also, note that the report reads:

"Judge Eugene R. Sullivan (Ret.), one of the partners, is a member of the advisory board of one of Tether’s banks. It was through this connection that Tether was introduced to FSS. As well, the firm's relationship with the bank allowed for the following review to commence in a timely and comprehensive manner, ensuring that no pertinent information was overlooked in the process."

While AICPA independence codes don't explicitly restrict an auditor from being on the board of a bank for which confirmation procedures will be performed with for a client, this falls into the gray area where the auditor would want to maintain independence "in form AND appearance."

Again, we aren't dealing with an accounting firm here, we're dealing with a legal firm. As I'm a CPA, not a lawyer, I am unaware of the independence rules that lawyers must abide by, and openly stating something like that, I'd imagine they are in the clear. Not ground shattering. However, contextually, Tether has struggled with accusations, and I find it strange that they wouldn't seek out a completely independent, third party accounting firm. Furthermore, the comments regarding the review occurring "timely/comprehensive/ensuring no pertinent information was overlooked" is very, very unprofessional. You wouldn't say something like this in an actual opinion and/or procedures letter, at least coming from an accounting firm, as it opens you up significantly to liability in the advent of a lawsuit. I'm rather surprised a legal firm would issue that in their report.

Final/Overall Thoughts: This report gives me no additional or decreased confidence in Tether. The questions it raises as to their lack of an entire audit, along with choice of firm, leave me with little evidence and don't do much for me.

Disclaimer: This isn't FUD, rather me hoping that my former boring job experiences and professional opinions might be worth something to someone. This also cannot be constituted as financial advice, and anything said within this comment is merely personal opinion based on professional experiences.

Comment#2
I agree with /u/sniper24usa , except for he / she is quite generously dismissing the 'they could of hired professionals, why didn't they?' - I would argue that is a classic, very direct indication of fraud and intent to mislead the public. They incurred, what, $200,000 in costs for this ultimately meaningless statement? When they could of hired qualified, licensed professionals for the same fee?

As he states, if someone pays $200,000 to a plumber to certify the electrical wiring of a high rise apartment complex for sale, I would suggest becoming triply skeptical as opposed to simply saying "hum", though it's not factual, direct evidence of fraud.

My statement :

I am an auditor, licensed CPA, etc.

I know lawyers, and how they act. Remember a lawyer's BONUS only comes in AFTER a client gets sued. Up until then, they just earn retainer, basic fee. During a lawsuit, they get millions.

Granted there are kind lawyers out there, but corporate lawyers are paid to lie. And I don't mean 'whoops' but out-right lie. This is their responsibility. They HOPE for a lawsuit, and management simply hopes they don't get caught.

Auditors are quite different. Auditors are NOT allowed to play stupid (lawyers are). Auditors LOSE money in a lawsuit, lawyers gain money. While Auditors ultimately serve management (see Auditors Tether Fired), their obligation is to walk away from bad relationships, AND to warn others. Lawyers have no such obligation, and typically are actually forbidden from disclosing information, even to governments, where as Auditors are required to divulged all information that contacts them. And not "if sued" but every 3 years, or so - so regularly Auditors get 'Audited', by competent professionals.

So... pretend there is a medical clinic that does fake surgery, profiting Billions of dollars in 'untraceable' currency. Let's pretend a medical hospital with a reputation 'audited' this fake clinic, and was fired half way through. Now rumors fly. Now say there is a LAWYER who says "I've confirmed this surgeries to be legit".

Is he telling the truth? Well... one, he's NOT A FUCKING DOCTOR, or an Accountant - so he has provided NO EXPECTATION OF EXPERTISE. Just as a hobo can tell you he can cure you with a magic crystal and not get into trouble, so can a lawyer. Doctors can not. Likewise, Auditors can not, regarding financial matters.

Two, they FIRED THE FUCKING AUDITORS, the QUALIFIED, AND EDUCATED PEOPLE. Sure, maybe it was because they were fat, too black, or some other weird dumbass shit you believe, but it's MUCH more likely it was because their conclusion would have been unfavorable. I mean, they probably paid them $100,000 up to that point, why fire them for having a bad attitude? It's more likely it was because $100,000 is less than the cost of preventing them from issuing a statement.

THREE, the person telling you the 'surgeries' (or tether) are legit IS THE FUCKING PERSON WHO GETS PAID MOST WHEN PEOPLE LIE AND ARE HURT from said lies. You might want to ask yourself, ARE LAWYERS CHEAP HOBOS WHO DO WORK FOR FREE? Why then hire dumbasses who cost ass tons of money to do work they are WAY unqualified for, unless their primary qualification (being able to lie, and profit from it), is the exact and only skill you need.

Lastly, as someone else mentioned (I haven't read the report), the lawyers statement is that AT ONE TIME, Tether had equal dollars as Tethers. You might notice how absolutely moronic that statement is. I can represent on paper to have 100x more money than I ordinarily do, if the only question is 'what's the most money you are capable of possessing' instead of how much money do you normally possess. Creating an artificially high 'spot' price for an instant in time is relatively easy. Thus the lawyers could technically be correct (best kind), but highly misleading to the public.
...
WHY FIRE THE AUDITORS, AND WHY HAVE A lawyer ISSUE THE AUDITORS REPORT INSTEAD? Because they get paid to lie, dip.

But all that said, I suspect Tether has ~80% liquidity. I am 100% confident they have not had 100% liquidity, at all times. Just observing their business practices, I also feel confident they are planning for a lawsuit, and to flee jurisdiction. Maybe it takes years before their bubble gets popped, maybe never. Really all you need is around 40% liquidity to keep something like Tether working. But perpetual fraud is costly, and as time goes on they are more likely to eventually pop. Sure use Tether all you want, but calling it 'backed' by dollars is pretty stupid. It's just a centralized banking system put on to crypto with a false pretense. Is that a problem? Well, maybe, and maybe not.

Tether could also have 100% of their amounts backed up all the time now, who knows. But they fired their auditors, and hired a lawyer to issue an auditors report lookalike. Surely most are smart enough to know what that means.
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June 21, 2018, 05:18:34 AM

Stop pretending the people running Bitfinex aren't criminal scammers people:

Quote
Raphael Nicolle, the elusive founder and CEO of Bitfinex, “invested” in a number of Ponzi schemes in 2012 and loudly supported Trendon Shavers who was recently sentenced to 18 months in prison for running a “classic Ponzi scheme.”

We can further reveal that Raphael Nicolle, who, in 2012, claimed to be a 26-year-old living in Lyon, France, tried to start, what appears on its face to be, his own Ponzi scheme:

“[W]hen I need more coins than I have to fill an order, I will ask everyone that previously “registered” with me to lend me some btc. After 7 days, I will return all of it, principal + 2% interests [per week]…. Now the questions you might have: What could you do to make so much profit? Let just say that I do “arbitrage”: I buy low and sell high.”

Bitfinex is a scam bucketshop where they just sit there and trade against their customers and naked long and naked short the market all day with fractional reserve.  Their fractional reserve scam blew up during brexit, then they stole all customer funds and claimed they were hacked as I chronicled here:

http://steemit.com/news/@r0achtheunsavory/bitfinex-is-lying-about-the-hack-and-i-can-tell-you-exactly-what-likely-happened

And more fraud on Bitfinex the second the exchange was brought back online after the so called "hack":

https://steemit.com/money/@r0achtheunsavory/the-r0ach-report-vol-3-bitfinex-scamming-intensifies-and-more-on-the-silver-and-gold-markets
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June 21, 2018, 05:20:50 AM

No, Bitcoin Won't Use Up All The World's Energy

Quote
Bitcoin using too much energy is thus pure FUD as it originates in the sectors that will lose more or be
disrupted most by the blockchain, the latest being the Bank for International Settlements (BIS), a core
piece of the global banking infrastructure.

Quote
Bitcoin and other cryptocurrencies also potentially replace gold as an international asset of last resort and it is
said the energy expended raping the earth for the precious gold monetary relic is five times that expended on
bitcoin. Even if it was a 1:1, the replacement of gold by bitcoin would surely be an environmental good.

https://www.forbes.com/sites/investor/2018/06/18/no-bitcoin-wont-use-up-all-the-worlds-energy/
Interesting point here.

I was wondering how much the current bank system demands in terms of energy consumption. It's true that the bank system offers a lot of services but do we really need all this stuff?

Considering ATMs, servers, offices, premises and so on, I would say running the Bitcoin system is not that bad.

It's also interesting the fact associated with the environmental exploitation of metals that are linked with the old system.

I wouldn't say Bitcoin system is the final solution to energy problems but, c'mon, the current money system definitely isn't more efficient than the crypto's one.

Environmentalists point the finger against Bitcoin while they still use and benefit from the bank system. I mean, the real problem lays at the base, certainly not at the blockchain technology.

Has anyone already posted this?
https://drive.google.com/file/d/1TIma781rLFjr-dqeJmL2KN06OpoRkSsj/view

It's 2014 research so some numbers should be adjusted, but still

ps it's also the source of this image that is going around lately on social networks and stuff


Hy hopes for a green currency  Grin Roll Eyes Smiley
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June 21, 2018, 05:23:59 AM

Bearish:
......................

By the way what is Peter Todd rambling about?? Increasing the btc supply??

Any link to it?
Its stuff like this i'm glad alternative like bch exist. Or another fork incoming the limited edition and the unlimited one.
One thing you dont do is change rules midway through game. Dont fix something not broken.
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June 21, 2018, 05:32:44 AM
Last edit: June 21, 2018, 05:43:57 AM by realr0ach

I didn't type anything about Peter Todd so someone misquoted me and it was someone else's quote.  However, it's a known fact that security decreases the lower the block reward goes and the more the network relies on transaction fees instead.  It opens up more adversarial mining attacks and other problems once transaction fees are higher than the static reward, so that's probably why Peter Todd has said for a long time that bitcoin probably needs an inflationary block reward.  

It could just be a 24/7 situation of big miners trying to game each other with block withholding attacks and other nonsense until the other guy goes out of business, which would obviously monopolize it even further when it's already pretty much completely centralized in the first place.

Here's a 2016 post concerning more on that subject:

https://freedom-to-tinker.com/2016/10/21/bitcoin-is-unstable-without-the-block-reward/

The droves of technically illiterate people in this thread that think bitcoin is too big to fail and guaranteed to succeed are sorely mistaken.  The chances are high it would die out like every other PoW coin that reached end of block reward, or the hash rate might be too low to stop attacks running off transaction fees as well.
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June 21, 2018, 06:44:20 AM

By the way what is Peter Todd rambling about?? Increasing the btc supply??

Link or it didn't happen.
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June 21, 2018, 07:16:46 AM

By the way what is Peter Todd rambling about?? Increasing the btc supply??

Link or it didn't happen.

https://twitter.com/peterktodd/status/1005383828192616449
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June 21, 2018, 07:20:23 AM

Bearish:
......................

By the way what is Peter Todd rambling about?? Increasing the btc supply??

Any link to it?
Its stuff like this i'm glad alternative like bch exist. Or another fork incoming the limited edition and the unlimited one.
One thing you dont do is change rules midway through game. Dont fix something not broken.

That post by Todd is indeed slightly concerning
But considering bcash as a serious alternative is overracting.
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June 21, 2018, 07:31:01 AM


There was an answer too
Quote
@waxwing__
Yeah, it'll be stable, but it'll be stable at 0. If the reward is 10 and the current total supply (after 1 trillion blocks) is 10 trillion. (I ignore the natural loss phenomenon, but I think you were too).
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June 21, 2018, 07:35:43 AM
Last edit: June 21, 2018, 07:46:15 AM by Robin,Hood

Bearish:
......................

By the way what is Peter Todd rambling about?? Increasing the btc supply??

Any link to it?
Its stuff like this i'm glad alternative like bch exist. Or another fork incoming the limited edition and the unlimited one.
One thing you dont do is change rules midway through game. Dont fix something not broken.

That post by Todd is indeed slightly concerning
But considering bcash as a serious alternative is overracting.
Overracting no, what he says Monero and Dogecoin is the perfect coin with a fixed unlimited supply. The world move in mysterious ways.
Edit:
After May 2022 Monero changes to 0.3 XMR/min, miner reward forever and Dogecoin has already the 10000 fixed block reward since Feb 2015 forever
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June 21, 2018, 08:20:35 AM



I still can't stop thinking how hilarious it was the bulls called the bottom and popped champagne on this candle.
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June 21, 2018, 08:22:19 AM

Well, at least somebody is trying to hold "The bottom" up... . (Mic post some good pic)  Cheesy Wink

Confirmed. Bottom is being held up.




Sometimes I feel like my biggest contribution to this thread is butt pictures, but I guess that's good enough.
We are really in the bottom indeed! i like what's on the inner side loool  XD. really looking forward to see Bitcoin back again at it's 10k mark atleast.
That's interesting... I mean not only the image Tongue

How would you say that we have already reached the bottom?

Just look at the picture. No, really, after staring at it for a while, you will understand we have surely found THE bottom.
The more I look, the more I understand  Roll Eyes  Roll Eyes
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June 21, 2018, 08:43:58 AM

Yeah, well that's just like your opinion, man.





love the lebowski shit.... gotta finish my tattoo quickly , gonna see the movie one of these days again been to long already  Grin

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June 21, 2018, 09:09:56 AM

Yeah, well that's just like your opinion, man.





love the lebowski shit.... gotta finish my tattoo quickly , gonna see the movie one of these days again been to long already  Grin


big lebowski is also one of my favorite movies and it has so many scenes we can use for bitcoin memes.

the dude with his head in the toilet would be a good bottom meme.

the mexican bowling jesus could be a bcash shill.

and the list goes on.. Smiley
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June 21, 2018, 09:11:10 AM



I still can't stop thinking how hilarious it was the bulls called the bottom and popped champagne on this candle.



why hilarious ?? real BULLS and LONGTERM hodlers are just poppin champagne whenever they want , we are just all sitting back relaxing and be a part of the whole ride BTC is taking .....  
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