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

[JayJuanGee]

Trading volume for the last 24 hours is the highest in the last 10 months : more than 10 Billions.

Why the fuck do people still buy Ethereum? I don't understand.
,
It is proven it doesn't have any magical solution to its L1 scalability and also nobody's using its dapps neither. So why would anybody want that piece of shit?

$5b worth of eth is traded in the last 24h. What the fuck...

*at least they are not buying bcash, that's a relief.

They buy it so that they can pump shitcoins and scams, which is a use case in and of itself that causes speculation regarding how many and how much shit can be built on top of other shit, which causes various network effects.  In the long (perhaps 50 years) or medium (perhaps 5-10 years), the market is going to realize how shitty the whole ETH foundation is (including the fact that it is insecure of both centralization and also in terms of the shenanigans that are built on such centralization - which includes a fiat kind of set of monetary policies that they don't openly admit).  

I remain somewhat surprised regarding the actual fact that some more serious projects are actually building on ETH - which is going to cause the scam to continue for a decently long time - absent some real major issue that cannot be short-to-medium term covered up.

In other words, it seems pie in the sky to be wishing on the short term demise of ETH, even though I am in the same camp in which I am not going to put much if any of my actual value into such shescamicans.

[JayJuanGee]

Probably because ETH is moving from a POW (proof of work) to a PoS (proof of stake) consensus algorithm with a minimum of 32 ETH required to stake, and a lot of people are buying it at these low prices so that they can start staking soon

Yeah right... believe it when we see it.  Those buying into an actual POW to POS seeming ponzi scheme transition are dumb-ass-fucks to actually conjecture that POW to POS will actually: 1) take place and 2) if it does take place without some major additional scam (smoke and mirrors) hiccup(s).

[JayJuanGee]

Probably because ETH is moving from a POW (proof of work) to a PoS (proof of stake) consensus algorithm with a minimum of 32 ETH required to stake, and a lot of people are buying it at these low prices so that they can start staking soon

This has been said for forever, still nothing. I doubt anything will change.

LOL.
POW is where workers rule.
POS is where rent seekers rule.
You can never create sustainable economy where rent seekers rule!
Ethereum was created as a coin of the people that don't understand monetary theory by the people that don't understand monetary theory for the people that don't understand monetary theory!

In other words, POS and ethereum is/are a ponzi scheme...

Can make a lot of money, as long as you are in early... 

Personally, I am not interested in playing such a game, but there is about 99% of the world's population that has not yet been tapped, and plenty of them would like to attempt to get rich quick and don't mind gambling to attempt such richness, especially if they don't know what they do not know.

[Last of the V8s]

Could we encrypt Craig Wright and lose the keys?

[JayJuanGee]

@jjg. Don't take this the  Wrong way but ive found you a new avatar

I have only had three avatars to date, so not very likely that I would change my avatar outside of very compelling circumstances, and what you have presented is far from compelling.

1) dancer avatar
2) dancer avatar on a hat
3) dancer avatar on a hat with transparent background

The avatar you presented, actually, looks like it could be considered as a bitcoinPsycho avatar, perhaps if you could fit such avatar variation on a hat?  I would not try to take such avatar from you.  

[Cryptotourist]

Could we encrypt Craig Wright and lose the keys?

No, but we can expose his fraudulence every day of the week.

[HairyMaclairy]

Could we encrypt Craig Wright and lose the keys?

No, but we can expose his fraudulence every day of the week.

Or we could just ignore him as irrelevant

[Biodom]

Probably because ETH is moving from a POW (proof of work) to a PoS (proof of stake) consensus algorithm with a minimum of 32 ETH required to stake, and a lot of people are buying it at these low prices so that they can start staking soon

This has been said for forever, still nothing. I doubt anything will change.

LOL.
POW is where workers rule.
POS is where rent seekers rule.
You can never create sustainable economy where rent seekers rule!
Ethereum was created as a coin of the people that don't understand monetary theory by the people that don't understand monetary theory for the people that don't understand monetary theory!

I agree, however, I worry that current rent seekers (which are dominant in the current economy) will simply transplant themselves onto POS, thereby strengthening it.

[Cryptotourist]

Good luck on your bet gentleman. May the best bottom win.

Or we could just ignore him as irrelevant

The problem with that is the new born fish. They'll most likely fall for it and bite.
Gives BTC a bad reputation.
Ignoring a problem doesn't make it go away.

[Arriemoller]

Going to break 4k, are we?

Didn't we already do that a month or so ago?
I fail to see the wow factor in that, just normal volatility.

It's because we're showing more evidence of it reversing.

Nah, it's too early for that, we have several more months sideways to look forward to.
I'll be glad if I'm wrong, but I'm probably not.

I would say you are both right and wrong

We have bottomed and yes we have several more months of sideways.

pish tosh

I would say you are both right and wrong.

You are right about the sideways.

But there's plenty of room yet for a stab down to the dark side.

I'd even prefer it that way.

I'll bet you a litecoin?

I will take it if Hairy won't.

I will wager 1 LTC we have already seen the bottom of this bear market.  That is, it will not go lower than 3122.

Suggest period of wager is until Dec 31 2019, or we go over 7500 on Stamp in USD (or under 3122) - whichever is sooner?

Edited for clarity.

I will also take that bet, if those terms are accepted by Mr V8.

By the way, Isn't the phrase in the movie "the last of the interceptors" or something like that?
Haven't seen it since the 80s but that's my memory of it. Gonna check the internet for that now.

@Arriemoller  Are you taking the bet with Hairy? or with kurious or both?

With none, Mr V8 is taking it with Mr Hairy if I remember correctly.

[Biodom]

CL: two stadiums full of people who paid good money plus hundreds of million people watching this on TV and all they got was 0:0.
Happy that I did not watch it (this time).

[Cryptotourist]

Colosseum syndrome?

[cgt99]

Also many people think Satoshi is dead but you can't rule out a day when he decides to dump one million bitcoins on the market, just sayin......

Naahh, not to worry... most will go for a good cause 

https://twitter.com/realSatoshiN/status/1020584618758688769

[Last of the V8s]

https://www.thisiswhyimbroke.com/bitcoin-toilet-paper-roll/ #dyor

[Cryptotourist]

I use baby wipes or water.
Now you know.

[El duderino_]

Elon Musk thinks paper money is going away and crypto will take its place.

Everyone has hoped for financial reform.

What we got was even better.

Money outside the system.

In digital form.

Bitcoin.

https://twitter.com/alecziupsnys/status/1097982079273443328?s=21

[JayJuanGee]

LOL notice the news anchor.

She is relating bitcoin price up with JP Morgan recent shitcoin launching. LOL

https://twitter.com/CNBCFuturesNow/status/1097937905228615681/video/1

Who the fuck gave her the JOB? And who are these fat pigs?

Settle down Pamoldar.

Clips like these are just within the normal mainstream types of ambiguous bitcoin commentary, including sometimes questionable attempts at causal connections (if we are considering the mention of the JPMorgan coin). 

[Syke]

Elon Musk thinks paper money is going away and crypto will take its place.

Yeah, that's a given.

[JayJuanGee]

https://www.thisiswhyimbroke.com/bitcoin-toilet-paper-roll/ #dyor

Even if you don't like the guy, you might not want to get that intimate with his smirking image.   

[jojo69]

Someone just paid 2100 ETH for transaction fees.

That is over $300,000 spent to transfer $15.

Did they mistaken the fee with sending value?

https://twitter.com/AlecZiupsnys/status/1097876988835102720

?? ??

This is called screwing up big time. Here is the tx: https://etherscan.io/tx/0x1f73b43dc9c48cc131a931fac7095de9e5eba0c5184ec0c5c5f1f32efa2a6bab

DAMN!

Edit: The wallet is still very rich: https://etherscan.io/address/0x587ecf600d304f831201c30ea0845118dd57516e

Is there a dominant ETH miner?  could be money laundering

like paying retarded money for a crypto kitty, that was the sweetest launder I have seen in a while

/edit  I see I was not the first with this suspicion