Bitcoin Forum
May 23, 2024, 04:27:35 PM *
News: Latest Bitcoin Core release: 27.0 [Torrent]
 
   Home   Help Search Login Register More  
Poll
Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
Total Voters: 62

Pages: « 1 ... 23358 23359 23360 23361 23362 23363 23364 23365 23366 23367 23368 23369 23370 23371 23372 23373 23374 23375 23376 23377 23378 23379 23380 23381 23382 23383 23384 23385 23386 23387 23388 23389 23390 23391 23392 23393 23394 23395 23396 23397 23398 23399 23400 23401 23402 23403 23404 23405 23406 23407 [23408] 23409 23410 23411 23412 23413 23414 23415 23416 23417 23418 23419 23420 23421 23422 23423 23424 23425 23426 23427 23428 23429 23430 23431 23432 23433 23434 23435 23436 23437 23438 23439 23440 23441 23442 23443 23444 23445 23446 23447 23448 23449 23450 23451 23452 23453 23454 23455 23456 23457 23458 ... 33377 »
  Print  
Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26388947 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. (174 posts by 3 users with 9 merit deleted.)
BTCMILLIONAIRE
Hero Member
*****
Offline Offline

Activity: 1358
Merit: 834



View Profile
April 28, 2019, 01:04:59 AM

You don't have those kinds of options with traditional physical assets like fiat or PMs...  Even having $10 million in cash would not be easy to move around, like it is with bitcoin.  A billion dollars on bitcoin could be stored and managed a whole hell-of-a lot easier than the same value in cash or Pms.

You demonstrate a complete failure of economics 101 understanding.  It's not possible for something to qualify as "money" if it doesn't even qualify as a commodity first.  Nobody refers to video games on Steam as a "commodity" because it's blatantly obvious it's a state-run racket/scam called intellectual property and entirely based on artificial scarcity.  

Bitcoin is no different - another artificial scarcity scam/racket.  The hallmark trait of all currencies is artificial scarcity, while actual money is required to be physical commodity in the real world and not an artificial scarcity racket.  So, no, you are not "storing" $10 million of anything in bitcoin because it's not possible to store value in something completely imaginary based on artificial scarcity.  It's a currency and not money, and on a long enough timeline the value of a currency always goes to zero.  

All you're holding is a temporary pump and dump grenade or financial scam that you're attempting to pass off onto someone else before it explodes, not "storing value".  You need a physical commodity that doesn't expire to do that.

While your rationale works well for video games on Steam it does not hold for Bitcoin. While true that the scarcity is artificial by virtue of being programmed in it's not comparable to video games on Steam which can be sold without any limitations.

As soon as some malicious actor tried to remove scarcity by increasing the amounts of Bitcoins we'd simple tell them to fork off by forking off ourselves.


You could make an argument that this would be a democratic process and that the majority of humans is too fucking retarded to realize when they're being manipulated into believing that increasing the amount of coins is a non-issue. But that would still result in two chains, one with the idiots and one with the rest.

Now another argument that you could attempt would be to state that the scarcity was broken through the fork. But as we have already seen quite clearly forks only have a fraction of the original value and the more forks there are the less valuable each fork will be with a quick convergence towards value for erroneous forks. Hence irrelevant for both the Economy as a whole as well as the 21m Bitcoin chain.
d_eddie
Legendary
*
Offline Offline

Activity: 2506
Merit: 2959



View Profile
April 28, 2019, 01:06:07 AM

@roach
nom nom nom
JayJuanGee
Legendary
*
Online Online

Activity: 3724
Merit: 10307


Self-Custody is a right. Say no to"Non-custodial"


View Profile
April 28, 2019, 01:09:50 AM

You don't have those kinds of options with traditional physical assets like fiat or PMs...  Even having $10 million in cash would not be easy to move around, like it is with bitcoin.  A billion dollars on bitcoin could be stored and managed a whole hell-of-a lot easier than the same value in cash or Pms.

You demonstrate a complete failure of economics 101 understanding.  It's not possible for something to qualify as "money" if it doesn't even qualify as a commodity first.  

I don't give a ratt's ass what you call it.  Let's use $100 million as an example.. Look I came down one decimal point, just for you.  Today, if you have $100 million in dollars, or $100million in Pms (such as gold) or $100 million in bitcoin.  Which one would be easier to move around to various parts of the world?  Which one would be easier to store?  Even if I have a secure building, I have to get the money or gold in and out of there, and I also have to worry about robbery or damage.  Of course, I could spread the $100 bills out in different buildings or the gold, but still it would probably be a whole hell of a lot easier to deal with bitcoin... just think about going across the country in a u-hall filled with cash or filled with gold? Wouldn't you be worried?



Nobody refers to video games on Steam as a "commodity" because it's blatantly obvious it's a state-run racket/scam called intellectual property and entirely based on artificial scarcity.  
We are not talking about video games or steam... We are talking about bitcoin and comparing it to fiat and gold.  Of course, you can have some value in each, but if you have large amounts of value, such as $100 million.. even $1million, it is much easier to manage in bitcoin.


Bitcoin is no different - another artificial scarcity scam/racket.  

It is different, you diptwat.  It has it's own security network built in that are verifying its scarcity and transactional security, including solving the double spend problem... Haven't you heard about that?  You fucking troll/shill?


The hallmark trait of all currencies is artificial scarcity, while actual money is required to be physical commodity in the real world and not an artificial scarcity racket.  

The scarcity of bitcoin is not artificial you dimwit.  Stop spreading misinformation.

So, no, you are not "storing" $10 million of anything in bitcoin because it's not possible to store value in something completely imaginary based on artificial scarcity.  

It is.  I can do it today.  That $10 million is a little less than 2,000 bitcoins.  I could store the private keys on a hardware wallet, such as a Trezor or there are other ways to do it.  It is not theoretical.. it exists.  Wake the fuck up.



It's a currency and not money, and on a long enough timeline the value of a currency always goes to zero.  

We are talking today.  And, I don't give any shits if it goes to zero in some hypothetical future time, because i am gong to be lucky to live another 50 years.. so I don't even care if it goes to zero 51 years from now, except for my descendants of course, and that would be their problem, if I have not spent all of my bitcoin wealth by the time I die.

All you're holding is a temporary pump and dump grenade or financial scam that you're attempting to pass off onto someone else before it explodes, not "storing value".  You need a physical commodity that doesn't expire to do that.

What the fuck are you talking about?  Bitcoin has gone up in value in the past 10 years, and in the past 5 years it has gone up more than 5x.  Overall, bitcoin continues to go up, especially in recent times, which seems to provide decent evidence that bitcoin is going to fare better than your PMs, such as gold or silver or copper.  Good luck with those ancient relics in these modern times.

By the way, don't you have a PM forum or a PM thread that you can post on? You are continuing to waste the time of people in this thread, bitcoin buyers, holders and accumulators that seem to be way more knowledgeable (and interested) than you on the bitcoin topic.  Go somewhere where your phoney baloney PM pump talking points are wanted and appreciated.  NOT here.. Haven't you gotten the memo... PM bugs, including roaches, not wanted here!!!!!!!
Gyrsur
Legendary
*
Offline Offline

Activity: 2856
Merit: 1520


Bitcoin Legal Tender Countries: 2 of 206


View Profile WWW
April 28, 2019, 01:16:12 AM
Merited by El duderino_ (1)

always remember! buy BTC as long it is cheap.

JayJuanGee
Legendary
*
Online Online

Activity: 3724
Merit: 10307


Self-Custody is a right. Say no to"Non-custodial"


View Profile
April 28, 2019, 01:17:15 AM

For fuck sake JJG don't quote that fuck face, just everyone ignore the bastard and let him aste his time posting to himself.

Did someone die and put you in charge of my discretion... ?  or lack thereof?


 Cheesy Cheesy Cheesy
d_eddie
Legendary
*
Offline Offline

Activity: 2506
Merit: 2959



View Profile
April 28, 2019, 01:26:39 AM

Wow!!!!!



jojo and Searing are dee same peep.

That's Team #2! Now for the next one?


kenzawak
Hero Member
*****
Offline Offline

Activity: 658
Merit: 851



View Profile
April 28, 2019, 01:42:01 AM
Merited by vapourminer (1)

BITCOIN TRADING VOLUME SURGES 250% IN THAILAND AFTER ‘SEASTEADING’ FIASCO

https://bitcoinist.com/thailand-bitcoin-volume-soars-250-after-seasteading-fiasco/

"Thailand has gone into a bitcoin frenzy as volumes have risen 4x on the peer-to-peer site Local Bitcoins.

In bitcoin, 417 BTC (worth nearly 70 million Thai Baht) has exchanged hands in the last week, up from 130 BTC (21 million baht) in the previous weeks. This is the highest recorded volume since 2016.
It’s speculated that the surge in interest of bitcoin was due to the seizure of the sea-faring couple, which consequently boosted awareness of Bitcoin in the country."
kenzawak
Hero Member
*****
Offline Offline

Activity: 658
Merit: 851



View Profile
April 28, 2019, 01:59:37 AM

Tone Vays at the Mexico City meetup :

"Right now we are in a bull / bear market, it's debatable .
If we're in a bull market, the Tether news is great news because people will replace their Tether with Bitcoin.
If we're in a bear market, this is bad news because if the US government can shut down Bitfinex, they can shut down any exchange with the help of other international governments.
...
If the price of Bitcoin doesn't go to 4k and it can brush off this news, I will have to agree that the bear market has ended.
...
I still think Bitcoin is gonna make a lower low but I'm almost 50/50."

https://youtu.be/93EQbeGwpno  (he talks about Tether around 29 minutes in the video).
Searing
Copper Member
Legendary
*
Offline Offline

Activity: 2898
Merit: 1464


Clueless!


View Profile
April 28, 2019, 02:11:47 AM

yeah...I got a really bad feeling about the coming weeks

Pussy.

I'm doing an extra morning set of 10 reps with my titanium plates. I feel no pain. The only way is up.


True...just saying.....not a big fan of the tether scam...it could get ugly...and on the above I said "coming weeks" Smiley

Wow!!!!!



jojo and Searing are dee same peep.

Ack! Been Found Out! Ack! (or are you saying JoJo is my soul mate...(heart flutter) Smiley
realr0ach
Sr. Member
****
Offline Offline

Activity: 924
Merit: 311


#TheGoyimKnow


View Profile
April 28, 2019, 02:14:45 AM

The scarcity of bitcoin is not artificial you dimwit.  Stop spreading misinformation.

If this statement is not concrete proof JayJuanGee is negative 4000 IQ, I don't know what is.
Dabs
Legendary
*
Offline Offline

Activity: 3416
Merit: 1912


The Concierge of Crypto


View Profile
April 28, 2019, 02:21:56 AM
Merited by BobLawblaw (1)

Elwar seems to have gotten his trezor to work.
d_eddie
Legendary
*
Offline Offline

Activity: 2506
Merit: 2959



View Profile
April 28, 2019, 02:25:19 AM

yeah...I got a really bad feeling about the coming weeks

Pussy.

I'm doing an extra morning set of 10 reps with my titanium plates. I feel no pain. The only way is up.

Please let me suggest you to add some cologne spraying between each rep for full endurance training.
From the horse's mouth. Duly merited now. WOsMerit alone couldn't pay justice to crabs and stuff.
realr0ach
Sr. Member
****
Offline Offline

Activity: 924
Merit: 311


#TheGoyimKnow


View Profile
April 28, 2019, 02:28:20 AM

Elwar seems to have gotten his trezor to work.

None will escape retribution from becoming Judas to turn their back on physical metals and shill for (((digitial currency))) cashless society slavery systems.
infofront (OP)
Legendary
*
Offline Offline

Activity: 2632
Merit: 2780


Shitcoin Minimalist


View Profile
April 28, 2019, 02:44:16 AM

BTCMILLIONAIRE
Hero Member
*****
Offline Offline

Activity: 1358
Merit: 834



View Profile
April 28, 2019, 02:57:18 AM

The scarcity of bitcoin is not artificial you dimwit.  Stop spreading misinformation.
The entire Bitcoin protocol is a human creation and hence artificial. That includes everything with in it, such as the limited supply and hence scarcity of Bitcoins.



Code:
artificial
/ɑːtɪˈfɪʃ(ə)l/
adjective
adjective: artificial

    1.
    made or produced by human beings rather than occurring naturally, especially as a copy of something natural.
    "her skin glowed in the artificial light"
Toxic2040
Legendary
*
Offline Offline

Activity: 1792
Merit: 4141



View Profile
April 28, 2019, 02:57:58 AM

Elwar seems to have gotten his trezor to work.

+1 WOsMerit

yeah...I got a really bad feeling about the coming weeks

Pussy.

I'm doing an extra morning set of 10 reps with my titanium plates. I feel no pain. The only way is up.

Please let me suggest you to add some cologne spraying between each rep for full endurance training.
From the horse's mouth. Duly merited now. WOsMerit alone couldn't pay justice to crabs and stuff.




-----------




searching for support along the 0.236 fib as most short term indicators appear to be turning south
1h


$4.7k might be the new floor  #dyor
3d

#stronghands'19
DaRude
Legendary
*
Offline Offline

Activity: 2804
Merit: 1830


In order to dump coins one must have coins


View Profile
April 28, 2019, 03:07:38 AM
Merited by JayJuanGee (1)

You don't have those kinds of options with traditional physical assets like fiat or PMs...  Even having $10 million in cash would not be easy to move around, like it is with bitcoin.  A billion dollars on bitcoin could be stored and managed a whole hell-of-a lot easier than the same value in cash or Pms.

You demonstrate a complete failure of economics 101 understanding.  It's not possible for something to qualify as "money" if it doesn't even qualify as a commodity first.  Nobody refers to video games on Steam as a "commodity" because it's blatantly obvious it's a state-run racket/scam called intellectual property and entirely based on artificial scarcity.  

Bitcoin is no different - another artificial scarcity scam/racket.  The hallmark trait of all currencies is artificial scarcity, while actual money is required to be physical commodity in the real world and not an artificial scarcity racket.  So, no, you are not "storing" $10 million of anything in bitcoin because it's not possible to store value in something completely imaginary based on artificial scarcity.  It's a currency and not money, and on a long enough timeline the value of a currency always goes to zero.  

All you're holding is a temporary pump and dump grenade or financial scam that you're attempting to pass off onto someone else before it explodes, not "storing value".  You need a physical commodity that doesn't expire to do that.

While your rationale works well for video games on Steam it does not hold for Bitcoin. While true that the scarcity is artificial by virtue of being programmed in it's not comparable to video games on Steam which can be sold without any limitations.

As soon as some malicious actor tried to remove scarcity by increasing the amounts of Bitcoins we'd simple tell them to fork off by forking off ourselves.


You could make an argument that this would be a democratic process and that the majority of humans is too fucking retarded to realize when they're being manipulated into believing that increasing the amount of coins is a non-issue. But that would still result in two chains, one with the idiots and one with the rest.

Now another argument that you could attempt would be to state that the scarcity was broken through the fork. But as we have already seen quite clearly forks only have a fraction of the original value and the more forks there are the less valuable each fork will be with a quick convergence towards value for erroneous forks. Hence irrelevant for both the Economy as a whole as well as the 21m Bitcoin chain.

His old brittle mind burned too many brain cells on nazi propaganda to see that there is no difference between natural and coded scarcity as long as it's truly scares. But that's alright many grandmas struggle with the concept of decentralized consensus, and that you can't copy and paste to get more BTC and it's not because of some DRM.
JayJuanGee
Legendary
*
Online Online

Activity: 3724
Merit: 10307


Self-Custody is a right. Say no to"Non-custodial"


View Profile
April 28, 2019, 03:13:28 AM

The scarcity of bitcoin is not artificial you dimwit.  Stop spreading misinformation.

If this statement is not concrete proof JayJuanGee is negative 4000 IQ, I don't know what is.

There is no negative IQ... 


JayJuanGee
Legendary
*
Online Online

Activity: 3724
Merit: 10307


Self-Custody is a right. Say no to"Non-custodial"


View Profile
April 28, 2019, 03:16:46 AM

The scarcity of bitcoin is not artificial you dimwit.  Stop spreading misinformation.
The entire Bitcoin protocol is a human creation and hence artificial. That includes everything with in it, such as the limited supply and hence scarcity of Bitcoins.



Code:
artificial
/ɑːtɪˈfɪʃ(ə)l/
adjective
adjective: artificial

    1.
    made or produced by human beings rather than occurring naturally, especially as a copy of something natural.
    "her skin glowed in the artificial light"

O.k. Technically, you are correct, yet we are not talking about technical correctness, we are talking about real world application.

Accordingly, try to change the 21 million bitcoin versus trying to figure out the extent to which the gold supply is scarce or not manipulated by paper inflation?  Which one is more scarce in real application and what the fuck problem has bitcoin attempted to solve?  

With bitcoin, we are talking practical application and a programmed and consensual scarcity, not some pie in the sky theory about what could or might happen in some hypothetical (not likely to happen scenario).  And, that is part of the reason why, currently, bitcoin has the strongest and hardest money that has ever been created  (until proven otherwise).

[edited out]

His old brittle mind burned too many brain cells on nazi propaganda to see that there is no difference between natural and coded scarcity as long as it's truly scares. But that's alright many grandmas struggle with the concept of decentralized consensus, and that you can't copy and paste to get more BTC and it's not because of some DRM.

That is be called Koreck!!!!
Icygreen
Legendary
*
Offline Offline

Activity: 1463
Merit: 1135



View Profile
April 28, 2019, 03:27:33 AM


Thanks, that was ballzy of them and cute. Haha 
Quote
Put ALL your money in bitcoin! Get a mortgage, if you have one maybe take out second one. [quote/]
Pages: « 1 ... 23358 23359 23360 23361 23362 23363 23364 23365 23366 23367 23368 23369 23370 23371 23372 23373 23374 23375 23376 23377 23378 23379 23380 23381 23382 23383 23384 23385 23386 23387 23388 23389 23390 23391 23392 23393 23394 23395 23396 23397 23398 23399 23400 23401 23402 23403 23404 23405 23406 23407 [23408] 23409 23410 23411 23412 23413 23414 23415 23416 23417 23418 23419 23420 23421 23422 23423 23424 23425 23426 23427 23428 23429 23430 23431 23432 23433 23434 23435 23436 23437 23438 23439 23440 23441 23442 23443 23444 23445 23446 23447 23448 23449 23450 23451 23452 23453 23454 23455 23456 23457 23458 ... 33377 »
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!