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

[Lambie Slayer]

If somebody already posted this my bad.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=lyTOWUVaDHJdfUfkNZePWg==&system=prod

Bitfinex's legal response for todays hearing.

TABLE OF CONTENTS
INTRODUCTION ... 1
DISCUSSION ... 2
I. The Attorney General Failed to Show that the
Martin Act’s Jurisdictional Scope Covers the Respondents ................................... 2
II. The Attorney General’s Ex Parte Application Should Have Been
Governed by the Traditional Standards for a Preliminary Injunction ..................... 3
III. The April 24, 2019 Order Cannot Be Justified
Under the Traditional Preliminary Injunction Standards ........................................ 8
A. The Attorney General Will Not Succeed on the Merits .............................. 8
B. There Is No Harm, Much Less Harm that Is Ongoing or Irreparable ....... 10
C. The Balance of the Equities Favors Bitfinex and Tether .......................... 11
IV. A Preliminary Injunction Is Not “Proper and Expedient” .................................... 12
CONCLUSION ... 13

Looks like the AG is full of shit and lazy, but we still gotta watch out for Kangaroo Court shenanigans.

[JayJuanGee]

Everything you have to say is pure unadulterated crap. Do you ever tire of being wrong? What the hell is your purpose besides confirming that BSV tards are retarded?

Seems to me that this time at least, alevlaslo posted factual data. Which you have deigned to label as 'unadulterated crap'. Looks like it is you that is in the wrong this time, nutildah.

Unless, of course, you wish to disprove the data.

Put up or shut up.

Yeah... let's pump the aleviaslo tard..... .

[JayJuanGee]

Idiot. What happened to the price of BTC since Jan 2017? Did it go up or down?

Bitcoin tends to lose market cap dominance as it goes UP because it drags most other altcoins with it, BSV being a recent exception.

Everything you have to say is pure unadulterated crap. Do you ever tire of being wrong? What the hell is your purpose besides confirming that BSV tards are retarded?

And tarts too, as DaRude previously pondered such usage.

[Phil_S]

https://twitter.com/TuurDemeester/status/1123988227407470592

[Paashaas]

Because in the fractional reserve banking system, the vast majority of the money that banks loan does not exist until the very moment the loan is made. It is the indebtedness itself that zaps the money into existence. As such, the 'principal' is something that the bank would not have to lend you (or to use for any other purpose), as that money does not even exist before the loan is made. The bank acts like this principal is their money that they are lending. But if it is the very act of borrowing it that zaps it into existence, was it really the bank's to begin with? (Of course not) Why could the borrower not zap it into existence themselves? Only because the bank has been granted under colour of law this exclusive ability to counterfeit new money into existence. And worse, when it is repaid, it is paid to the bank. Money that the bank did not have until the act of the loan zapped it into existence. And to add insult to injury, the bank not only gets this newly created money, they charge interest to the borrower for the privilege of being allowed to counterfeit this money into existence.

Bizarre, but it's the motherfuckin' truth.

Sure - if you can find a way to fix that, and allow for partial reserve banking, I'm willing to listen to your ideas. But if you're feeding me a turd that's been sprayed in gold paint, I ain't gonna go for that.

Response to yours lightfoot's post (omitted for space).

Perhaps I am misunderstanding the banking system in general. But what you're describing seems to be central banking to me.



Let's assume that we now live in a world without central banking. I am the first person to create a bank.

People deposit their money with me for safe-keeping because I have state-of-the-art impenetrable security. I now realize that people only use 50% of the funds during peak load.

Meanwhile, businesses ask me for loans so they can eventually turn them into profits.

I decide to use an amount sufficiently below 50% of the money deposited in my bank to hand out loans and receive interest.

What I have now done was writing loans using money that exists as my clients put it in my care.

I decide to be a greedy cunt because I'm the only bank in town and very smart, so I keep all the profits to myself.

Someone who is very smarterer than me comes along and copies my system, but now hands out some of the profits back into depositor accounts.

This repeats until an equilibrium creditor and depositor interest rate is reached that covers all risks while keeping marginal profits for all three parties involved.


Would that not describe private banks without central banking?

And how does that differ from a hedge fund that offered plastic cards and wire transfers?

Do not get fooled by Jbrehers copy pasting tactics, this guy is fake.

However, i agree with Jbreher this fiat system is a scam. Bitcoin is a very good alternative.

It is not possible for Bitcoin to disrupt this fiat scam with bigger blocks, 2e layers was already obvious many years ago.

This is just silly, advocating bigger blocks while it's a dead - end...

[BTCMILLIONAIRE]

Response to yours lightfoot's post (omitted for space).

Perhaps I am misunderstanding the banking system in general. But what you're describing seems to be central banking to me.



Let's assume that we now live in a world without central banking. I am the first person to create a bank.

People deposit their money with me for safe-keeping because I have state-of-the-art impenetrable security. I now realize that people only use 50% of the funds during peak load.

Meanwhile, businesses ask me for loans so they can eventually turn them into profits.

I decide to use an amount sufficiently below 50% of the money deposited in my bank to hand out loans and receive interest.

What I have now done was writing loans using money that exists as my clients put it in my care.

I decide to be a greedy cunt because I'm the only bank in town and very smart, so I keep all the profits to myself.

Someone who is very smarterer than me comes along and copies my system, but now hands out some of the profits back into depositor accounts.

This repeats until an equilibrium creditor and depositor interest rate is reached that covers all risks while keeping marginal profits for all three parties involved.


Would that not describe private banks without central banking?

And how does that differ from a hedge fund that offered plastic cards and wire transfers?

Do not get fooled by Jbrehers copy pasting tactics, this guy is fake.

However, i agree with Jbreher this fiat system is a scam. Bitcoin is a very good alternative.

It is not possible for Bitcoin to disrupt this fiat scam with bigger blocks, 2e layers was already obvious many years ago.

This is just silly, advocating bigger blocks while it's a dead - end...

I am not under the impression that jbreher is of the copy/paste type.

Also that post was about banking in general and had nothing to do with BCash, Bitcoin, or disrupting the financial system.

Thanks for quoting it though, completely forgot about that.

Care to respond jbreher? Genuinely curious.

[Ibian]

The more moving parts the more things can go wrong. I continue to maintain that segwit and lightning was a mistake. Bigger blocks has the same net result and there are no new potential attack vectors. Or any confusion about how the heck it all works (which nobody had clear answers for when it was asked - a big fucking red flag in any situation).

[alevlaslo]

$4000 at nov 2020 and $160000 at aug 2023

until the end of 2020 there is nothing to do in BTC, you need to buy BSV  

[Hueristic]

It's simply amazing... ZEC, STEEM, WAN, etc, are today at all-time lows against bitcoin!

Daaaamn this n00b still have a sizeable bag of ZEC somewhere

Are you talking about me? If so, you should know that I'm always at least 60% in bitcoin and trade with the remaining 40% to increase my bitcoin holdings. Moreover, I've absolutely zero ZEC and have actually never bought a single piece of it as I do know that it's extremely cheap to mine ZEC (or the whole standard Equihash algorithm in general) with current ASICs (especially with the newest version of Bitmain's Antminer Z11) and miners keep on dumping whatever they mine. ZEC will only be a good buy once it's extremely close to its halving or after it. Till that time, buying ZEC with your BTC is equivalent to throwing away your precious satoshis for nothing.

Did you forget about how many free ZEC were created out of thin air? How many you ask? Well there is no way to tell, don't forget about that.

Trusted setup is not crypto it is a cheap imitation, there is a reason real projects don't use Zk-Snarks.

[_javier_]

The more moving parts the more things can go wrong. I continue to maintain that segwit and lightning was a mistake. Bigger blocks has the same net result and there are no new potential attack vectors. Or any confusion about how the heck it all works (which nobody had clear answers for when it was asked - a big fucking red flag in any situation).

We should be all using Bulletin Board Systems and text terminals according to your thoughts..

A horse has less moving parts than a Ferrari...  and the examples could go on and on...

[Cryptotourist]

LTC engine <> check
ETH engine <> check
Tether booster <> check
Alt's bleeding fuel <> check

WO's onboard <> check

It smells $6k already.

[_javier_]

btw, since when are ALTCOINS observed here??

Lets go back to BTC walls observing..  lets enjoy this mini pump

[Cryptotourist]

I was only observing BTC about to take off actually.

[NeuroticFish]

lets enjoy this mini pump

Wasn't today the day supposed to see a dump, because of Bitfinex, USDT and so on (sorry for mentioning an altcoin-ish thing)?
However, pump is fine for me, I would enjoy it even more if it'd be a mega pump.

[Ibian]

The more moving parts the more things can go wrong. I continue to maintain that segwit and lightning was a mistake. Bigger blocks has the same net result and there are no new potential attack vectors. Or any confusion about how the heck it all works (which nobody had clear answers for when it was asked - a big fucking red flag in any situation).

We should be all using Bulletin Board Systems and text terminals according to your thoughts..

A horse has less moving parts than a Ferrari...  and the examples could go on and on...

Don't be a twat, twat. Do you have any arguments or not?

[mindrust]

Turkey's state media says election officials ordered Istanbul's mayoral election redone, nullifying the opposition candidate Ekrem Imamoglu's win.

https://www.zerohedge.com/news/2019-05-06/lira-plunges-below-6-turkey-nears-rubicon

Some serious shit is about to happen here. I never trusted banks since I understood how they work but now is a lot different than what was yesterday. The shit is about to hit the fan. (actually it did)

Seriously considering to move from bank FIAT to %100 btc lately. I'm afraid when the times comes and I make that the decision it won't be possible anymore.

[fillippone]

Turkey's state media says election officials ordered Istanbul's mayoral election redone, nullifying the opposition candidate Ekrem Imamoglu's win.

https://www.zerohedge.com/news/2019-05-06/lira-plunges-below-6-turkey-nears-rubicon

Some serious shit is about to happen here. I never trusted banks since I understood how they work but now is a lot different than what was yesterday. The shit is about to hit the fan. (actually it did)

Seriously considering to move from bank FIAT to %100 btc lately. I'm afraid when the times comes and I make that the decision it won't be possible anymore.

Turkey is a complete mess.
There you can find the worst combination of dictatorship, lack of rights, Fiat money printing, spiralling inflation, lack of security, questionable foreign politic.
The point is that Turkey was literally inches from entering EU, but when they (ze Germans)  vetoed that, Turkish  they did a magnificent U turn into the Middle Ages.
It still amazes me.

[Paashaas]

One bCash address is responsible for nearly 50% of the network’s transactions in the past month.

https://blockchair.com/bitcoin-cash/address/1b1itzeSKYEKhdcthUSnNJ47Fx2U8Zwwn.

https://www.theblockcrypto.com/tiny/one-bitcoin-cash-address-is-responsible-for-nearly-50-percent-of-the-networks-transactions-in-the-past-month/

Seriously though, why would you bother to continue to flog that dead horse?

I got another beauty: ETH changed his narrative from unstoppable Dapps into digital money.

[MrFreeRoMan]

I was only observing BTC about to take off actually.

The first time I hear about this pattern is Bart Simpson pattern, it looks like it
And we can go to 5k.
divergence?

https://hacked.com/trade-recommendation-bitcoin-53/

[_javier_]

The more moving parts the more things can go wrong. I continue to maintain that segwit and lightning was a mistake. Bigger blocks has the same net result and there are no new potential attack vectors. Or any confusion about how the heck it all works (which nobody had clear answers for when it was asked - a big fucking red flag in any situation).

We should be all using Bulletin Board Systems and text terminals according to your thoughts..

A horse has less moving parts than a Ferrari...  and the examples could go on and on...

Don't be a twat, twat. Do you have any arguments or not?

name calling, ad hominem fallacy... whats next? Typical bcasher