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

[Lambie Slayer]

5k is back again. We just keep teasing the Bears.

[1714217601]

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[Hueristic]

who cares if their dumb ass kids get even less than their 5th grade average.

Well, you well may when you find you have to draw down on a couple of them when they try and jump you while you are pumping fuel.

Isn't that why they have their stand your ground law?

[jojo69]

Yes, but actually getting into armed confrontations is not pleasant.  Maintaining a base level of functioning society seems like a better investment the older I get.

[bitserve]

Yes, but actually getting into armed confrontations is not pleasant.  Maintaining a base level of functioning society seems like a better investment the older I get.

Of course, that's the reason for most of state subsidies (be it education, pensions, social security, poor subsidies, etc), it's not that much "charity" as it is maintaining the status quo and public safety for the rest.

P.S.: I am not a socialist.... But it is easy to understand the reasons behind it.

[Hueristic]

Yes, but actually getting into armed confrontations is not pleasant.  Maintaining a base level of functioning society seems like a better investment the older I get.

Mutually assured destruction works, you can look it up.

[bitserve]

throbs

My head is throbbing.
My ass is also throbbing.
Taxation is theft.

EDIT: Sorry for getting cranky today, brothers. Rick is presently in the process of sending off our FY18 tax payments, as well as making our FY19 estimated Q1 payments, and the ACA stuff just blindsided me completely out of nowhere this morning. Really put me in quite an awful mood.

I don't really think it will make your disappointment over the taxes issue vanish... but let's just always remember that you could be in a much worse situation, move on, and enjoy life!

[JayJuanGee]

I believe minimum wage is morally wrong because it makes it illegal for you to sell your labor for under a certain price.

Likely you misspoke, here.  Morally wrong and illegal are two different things.

When Bitcoin is the global reserve currency and all sane workers demand to be paid in Bitcoin, de facto pay cuts will be a thing of the past and minimum wage wont be useful at all. Workers will have all the bargaining power. Begging bosses or govs for raises each year wont be necessary as workers will have de facto pay raises as the currency gains value. When Bitcoin gains value too fast for some employers to successfully stay in business, then employers will have to come hat in hand and beg the workers to take less Bitcoin so they can stay in business.

This change in the power dynamic of employee/employer wage negotiation will usher in a prosperity the world has never witnessed.

I agree that bitcoin changes the kinds of incentives that are currently in place, and may even cause governments and banks to be more honest in terms of money.. On the other hand, I doubt that bitcoin will remove the need for governments to make attempts at protecting the most vulnerable.. whether governments are good intentioned in that regard or successful in various aims "to protect" the less privileged is likely another story.

In other words, it is likely going to take a few generations for these bitcoin dynamics to play out and to witness whether society is better off including people who might be more vulnerable to exploitation in regards to labor situations.

[bitserve]

I believe minimum wage is morally wrong because it makes it illegal for you to sell your labor for under a certain price.

Likely you misspoke, here.  Morally wrong and illegal are two different things.

Likely you misread Lambie... Minimum wages makes ilegal to work being paid less than that... and it is morally wrong to impose such limitation because it ends up in more unemployment and bars from working (and being paid *anything*) people that do not produce/deserve more than that. I do agree... with some reserves though.

[JayJuanGee]

I am not supporting illegal migration.  I am simply stating that much of the US economy runs on illegal migrant labor.  This is a fact.  

A fact that needs to change. Even it crashes the local economy. America will adapt, always has, always will.

And no, American teenagers do not want to pick bell peppers out of the dirt in the blazing sun for $2 per hour.  

And that's their whole fucking problem, isn't it? Coddled, spoiled, privileged, sitting on their fat asses drinking their $4 lattes and eating $7 avocado toast and $9 millionaire's bacon. All the while crying about illegals taking their jobs.

But no worries, when the world economy goes to shit... they'll learn... by picking free grown bell peppers in the blazing sun out of their back yards just to eat.

I had to google millionaire's bacon. I must try this soon.

Doesn't sound good.  I am already a bit reluctant to eat bacon because of sugar in the processing, but to add more sugar, that is not a good thing.

Don't get me wrong, I do like bacon, but geez.. adding more sugar to it, does not seem like a good direction to go, in terms of health impacts... but I would still try it out, just to say that I tried it.

[JayJuanGee]

I believe minimum wage is morally wrong because it makes it illegal for you to sell your labor for under a certain price.

Likely you misspoke, here.  Morally wrong and illegal are two different things.

Likely you misread Lambie... Minimum wages makes ilegal to work being paid less than that... and it is morally wrong to impose such limitation because it ends up in more unemployment and bars from working (and being paid *anything*) people that do not produce/deserve more than that. I do agree... with some reserves though.

I doubt that I misread or misunderstood Lambie...

Minimum wage brings an attempt at a balancing of interests, and sometimes those interests are not very well balanced, but whether something is immoral or illegal tend to be different questions, and sometimes might overlap.. but they are a bit different categories of consideration.

[BTCMILLIONAIRE]

That's pretty much what I wanted to hear. Will seriously consider this for my settlement once I take care of some other things first.

Can't wait to visit the restaurant for starters. Do you have any timeline for it?

And probably my last question about seasteading in general. How likely is it that your boat would get rekt and what do you do in such a situation?

Likely timeline for the restaurant is a matter of months. I'm in for a busy summer (people keep asking if I get bored on the seastead...).

The likelihood of our seastead getting rekt is very minimal. I think we've seen the biggest winds for the year while we were out there our first few weeks. We woke up every morning expecting some damage but it was just fine.

The production version will be extra safe. The interior of the spar will be completely void of any holes (seacocks/valves/etc). So in the very worst case scenario you can close off your spar and hunker down like going into your basement. Or you have the option of staying in your platform which is also a life raft. The two are not connected so if the spar sinks, the platform stays up. If the platform falls off (or something happens to it) you can go into the spar.

But most likely if the storm of the century is coming through...you go to one of the nearby islands and wait out the storm.

We are building the seasteads to withstand 5 meter waves. Where we are located the highest wave we should see in 100 years is 5 meters. High but rare. Average is about .5 meter waves.

What about the boat that you use to get onto the seastead? Is it possible to get stranded?

[BTCMILLIONAIRE]

Your taxes helped poor people and an overwhelming amount of illegal aliens get basic healthcare!?

FTFY. Would rather have put ACA money into building the wall, to mitigate the arguable open border and flood of illegal immigration we are dealing with.

Also, I draw the line at my tax dollars being used for third trimester abortions, in the name of "basic healthcare".

Bob speaking the truth here! On top of that the ACA fucked up private insurances and allowed them to have almost zero competition and be little duopolies.

Come on, that's not possible. Big government exists to break up monopolies!

[rdbase]

looking pretty ugly

Yes.
We are back to square one when the bulls were on the run around a week ago.
$5000 right on the dot. Isnt that a strange price to see it hit and stay there.

[BTCMILLIONAIRE]

Your taxes helped poor people and an overwhelming amount of illegal aliens get basic healthcare!?

FTFY. Would rather have put ACA money into building the wall, to mitigate the arguable open border and flood of illegal immigration we are dealing with.

Also, I draw the line at my tax dollars being used for third trimester abortions, in the name of "basic healthcare".

Hi Bob

Many of the illegal immigrants are primarily entering the US for jobs.   If you turn off the jobs tap, then many will not come. It will be very effective immigration control.

Do you support making it illegal to employ illegal immigrants, with jail time for US employers who violate the law?

I don't know about jail time. Do illegals go to jail for immigrating illegally? (I really don't know.)

But yes, I certainly agree with legal penalties for employers who employ illegals. Be it substantial financial penalties (not just a tiny tap on the wrist like with banks & co), jail time, or whatever else curbs the issue.


Either we have social securities or we have no borders. Can't have both, at the very least not until the entire world is similarly productive.

[BTCMILLIONAIRE]

I want to be quite clear here.  

Would you both support effective US immigration controls even if it causes a recession and wipes out many family businesses?

Edit:  they shut down illegal immigration in Australia (mostly Pacific Islands) and the farmers rioted because they had no one to pick the harvest.  It will be a hell of a fight in the US as well if immigration is turned off.  

Maybe give the jobs to a bunch of kids? I'm sure some of them will be happy to earn some pocket money, and learn some lessons in the process. Or is "child labour" really that bad when it's voluntary? I quite enjoyed working the gardens and farms as a kid and I certainly wasn't being exploited.

[BTCMILLIONAIRE]

Do you want a monthly statistic in WO?

Hi I like this.  But it would be great to take it back as far as possible, so we can compare price growth and post count and see if a possible leading indicator. 

If this is the objective, an quote of the historical and an quote of the current year, published on the 1st of each month.

First I want to know if this information is interesting in the WO thread.

Thx.

Yes. It is. I don't have any merit left to send your way though, but I see others have you covered.

[Paashaas]

Image of global IQ score, kinda sad how Africa lacks behind badly in education if you compare it with Japanese people.

Not that i am that intersted in how high somebody's IQ is, EQ (emotional intelligence) is more important imo.

[Syke]

Now there's a proper wall at $4780 on Stamp.

[BTCMILLIONAIRE]

Your taxes helped poor people and an overwhelming amount of illegal aliens get basic healthcare!?

FTFY. Would rather have put ACA money into building the wall, to mitigate the arguable open border and flood of illegal immigration we are dealing with.

Also, I draw the line at my tax dollars being used for third trimester abortions, in the name of "basic healthcare".

Yeah right... 



A purported black gay man complaining that other socially marginalized people are getting too many societal protections, including access to basic life choices.

The irony.. the irony.

I was not aware that you were a racist JJG.

[BTCMILLIONAIRE]

A simple fact:

in 1975 the minimal wage was $5.15 EDIT: looked at a wrong reference, apparently it was $2.10/hr in 1975, which is $9.9 now
in 2019 the minimal wage is $7.25

Well, $5.15 2.1 adjusted for inflation would be $24.33 9.9 today, so $15 number is not crazy.

Bob surely produces mixed messages (like paying 1% for 7 fig btc tx is OK, but $15/hr for MickeyD is too much).
The rich are different..., but I liked him more during drinking period...

I would pay 1% of any amount if it meant making sure that I won't lose it. If all other exchanges were Mt. Gox then even 5% could be preferable. It's called an insurance.

I don't see the connection to the minimum wage, which is a function of productivity and income?