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Question: Did we reach the bottom already?
Yes - 60 (50%)
No, it's coming later this year - 44 (36.7%)
No, it's coming next year or after - 16 (13.3%)
Total Voters: 120

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25813199 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. (170 posts by 5 users with 9 merit deleted.)
BTCMILLIONAIRE
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May 01, 2019, 10:37:08 PM

Fractional reserve has been working for banks for hundreds of years now, don't see why it can't for Finex. Even knowing what we know now people still hold their money there, it would take 75% of people to withdraw now for them to go belly up think and doesn't look like we're close to that happening, in fact they'd probably be "safe" running at 50% fractional reserve.
To clarify, my post was in reference to the cursive part.

As I see it the real issue is with central banking, over the top tax rates and government wastefulness. Fractional reserve can work if done sensibly and not bailed out by the tax payer. It's no different from debt, which is a highly productive tool.

Blasphemy. Partial reserve banking steals purchasing power -- and thereby wealth -- from the public at large, and concentrates it in the hands of the parasite banking class.
Suppose it was transparent and properly compensated as opposed to the way it was now, e.g. if depositors were paid proper interest for their deposits used in fractional reserve schemes, would you still see it that way?

If yes, why?


The way I see it is that banks used to be necessary but not much longer will be, especially as Bitcoin establishes a status as an appreciating currency. As such I expect different banks running different schemes to attract clients, such as paying out profits made from fractional reserve trades.
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May 01, 2019, 10:44:38 PM
Merited by vapourminer (1), Torque (1)

Fractional reserve has been working for banks for hundreds of years now, don't see why it can't for Finex. Even knowing what we know now people still hold their money there, it would take 75% of people to withdraw now for them to go belly up and it doesn't look like we're close to that happening, in fact they'd probably be "safe" running at 50% fractional reserve.
You have hit the nail on the head Darue: FR has been working for *BANKS* for hundreds of years, usually to the detriment of people who put their money in these banks then find it gone when the usual fraud followed by bank run happens. Or when banks/govt inflate the currency, meaning people who do not sotre their money chits in banks find it worth less and less over time.

Bitcoin is supposed to be immune to this: You can't commit fraud with it because if you say you have a bitcoin it's easy to prove and if you can't prove it you don't have one. With dollars it's easy to fudge the numbers because there are few objective ways to verify the amount. Same with our beautiful "tethers" and other private blockchains (which is why private blockchain offers no more security than a good old fashioned database plus logs: If you can fuck with the database and logs you can fuck with the private blockchain). This is why I like bitcoins. And this is why I think they will have a problem in today's commerce world: Since you can't inflate them (12.5 every 10 minutes, even God can't change that) and since they are easy to prove or disprove you need some sort of intermediary that you can fuck with to cheat people.

Enter Tether! Once private companies can convince you to exchange your non-fuckable bitcoins for easily fuckable tether you can have the "promises" be worth what they truly are. Remember, our current AG has said that he ain't prosecuting people for lying, so why not lie and say it's 100% backed, then "backed by things" then when called out get a "well, it's 74% backed by stable instruments".

Bullshit: You're just stealing people's money, like banks have done for centuries. Welcome to the club, pal.

The preceding has been a certified Lightfoot batshit rant. Contents may have settled during shipment.
cryptjh
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May 01, 2019, 10:47:56 PM

Its the first day of the month and bitcoins are continuing the nice green wave on the bitcoin monthly chart.
https://twitter.com/crypt_jh
becoin
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May 01, 2019, 11:10:15 PM

you can enjoy it a lot more when your younger.

Really? Are you sure?
Bitcoinaire
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May 01, 2019, 11:15:28 PM

And soon halving will be upon us, simple supply and demand!


So Coinbase are doing 20kBTC/mo, Greyscale do 6kBTC/mo and now it looks like Square are doing 6kBTC/mo.
Out of 54kBTC/mo mined by miners that’s already half the emission accounted for by those three companies.
Now u know why we’re heading up 🚀

https://twitter.com/jpthor__/status/1123698996449566720
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May 01, 2019, 11:17:01 PM

you can enjoy it a lot more when your younger.

Really? Are you sure?


Can confirm. I gave a paper wallet to my young nephew on ATH day. The little shit ate most of it. What wasn't eaten he rubbed all over his little ring piece. He seemed to have fun.
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May 01, 2019, 11:22:12 PM

you can enjoy it a lot more when your younger.

Really? Are you sure?


Can confirm. I gave a paper wallet to my young nephew on ATH day. The little shit ate most of it. What wasn't eaten he rubbed all over his little ring piece. He seemed to have fun.

 I wish I was made of sMerits.
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May 01, 2019, 11:28:26 PM
Merited by bones261 (2)

there be wyrm sign

resistance and support levels coming back into focus  

whats it going to take to crush the bears once and for all?  $6K+

look at all of this gentlemen and then lets look at the monthly chart which closed towards bullish for April

that and a viral like adoption curve make it difficult predict what will come

always in motion the future is

all that being said I think bitcoin is buy the dip-able until $7.6kish

-----


#dyor
1h


D


D


W


W


M

#stronghands'19
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Be a bank


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May 01, 2019, 11:58:31 PM

lil pomp
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Be a bank


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May 02, 2019, 12:09:16 AM

https://www.cbinsights.com/research/facebook-blockchain-cryptocurrency/
boring but notbad history
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May 02, 2019, 12:34:07 AM

Suppose it was transparent and properly compensated as opposed to the way it was now, e.g. if depositors were paid proper interest for their deposits used in fractional reserve schemes, would you still see it that way?

If yes, why?
Sure. Because it would be transparent and properly audit-able. However it would never be used: People who ran scams with opaque systems would offer higher rates of interest and it would be priced out.

See "Bad money drives out good".

Quote
The way I see it is that banks used to be necessary but not much longer will be, especially as Bitcoin establishes a status as an appreciating currency. As such I expect different banks running different schemes to attract clients, such as paying out profits made from fractional reserve trades.

They are inherently instruments of fraud, and are highly profitable because of said fraud followed by bailouts. The CDO issue of the 2000's is a perfect example of how everyone wants to do this because you make a lot of money with the risk going to the suckers.

I expect banks to drop.... go away. That is why I will not work for one.
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May 02, 2019, 12:37:12 AM

lil pomp


not sure what to say other than it appears there will be continued GAINZ until further notice    quiet sorry..you all will have to settle for being gentlemen like it or not   make the best of it I say

1h

#stronghands'19
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May 02, 2019, 12:54:12 AM

lil pomp


not sure what to say other than it appears there will be continued GAINZ until further notice    quiet sorry..you all will have to settle for being gentlemen like it or not   make the best of it I say


#stronghands'19

Not using 20 60 120 30 Ichimoku?

realr0ach
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May 02, 2019, 12:55:31 AM

Add to this the PM-supporting cockr0ach

I'm pro-silver & gold and anti all (((digital currency))), cashless society enslavement systems, so trying to put me in the same camp as "Rick Falkvinge", "Jihan Wu", "Roger Ver", and "Craig Wright" is utterly stupid when I consider all of you to be on the same team and me on a different one.
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May 02, 2019, 01:00:03 AM

you can enjoy it a lot more when your younger.

Really? Are you sure?


It doesn’t matter if you are young or old. It doesn’t matter if you are rich or poor.

But I would rather not be old and poor at the same time.  
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May 02, 2019, 01:05:22 AM

Please stop quoting Roach.

Do you really think you can defeat the William Wallace, the Saladin, the Haile Selassie of shitcoins?
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May 02, 2019, 01:21:55 AM

The future of silver and gold is bleak.  Technology continues to improve mining yields on earth and over the next few decades we are likely to see a flood of precious metals from mining in space.   Robots will be doing it and while it will be slow at first, as robotic ships build more robotic ships it will grow exponentially.   Over the next century the value of gold will plummet.     https://www.sciencefocus.com/space/space-mining-the-new-goldrush/

The future stores of value will be something like digital currency.   It might not be bitcoin in a century, but at least bitcoin is leading the way.   
 
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May 02, 2019, 01:38:31 AM



Not using 20 60 120 30 Ichimoku?





the eye sees all

I however prefer shorter time frames for shorter scales

make no mistake..we are engaged  there are some very upset bears hoping for cheaper coins    the battle is far from over

#dyor and #btd

1h default 9 26 52 26


1h 20 60 120 30


1h 18 52 104 52


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May 02, 2019, 01:53:40 AM
Merited by BTCMILLIONAIRE (1)

Capitalism just works.

Here is the obvious answer to censorship:

https://www.cnbc.com/2019/04/30/youtube-algorithm-changes-negatively-impact-google-ad-revenue.html


What opponents of capitalism don't understand is that it is essentially a global voting mechanism. It's the closest we have ever gotten to democracy.
Voting with our dollars, that's the only real vote indeed. Which means politics is not where effective voting happens today. Mostly.
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May 02, 2019, 01:55:01 AM
Last edit: May 02, 2019, 02:10:03 AM by realr0ach

The future of silver and gold is bleak.  Technology continues to improve mining yields on earth and over the next few decades we are likely to see a flood of precious metals from mining in space.  

And here's the 4000th retarded post pretending the cost to mine anything in space will not be astronomical.  Mining yields are also currently cratering on earth, so your post was a flat out lie in that department too.  Silver in particular is also a larger and heavier load, so even less economical to be transporting in a space shuttle. Give up the "hurrr metals are infinite cuz we can mine in space n sheeit" meme.  Those articles are probably sponsored by the federal reserve.

You don't even specify how you pretend you're going to accomplish this.  On earth you need to process literal TONS of earth just to get an ounce of gold.  Barrick currently claims to need to process 1 ton of earth just to get 1.55 grams.  Can you imagine attempting to process all those tons of earth out in space?  People's eyesight permanently erodes and their bodies already fall apart just sitting in the ISS and you're claiming there's going to be hundreds or thousands of workers up there in space stations that don't even exist processing millions of tons of earth.  We can't even build a simple wall to keep Mexicans out but there's going to be enormous, nuclear powered, trillion dollar space shuttles everywhere!

What type of fuel do you think they're going to be using to run those machines?  Shipping up diesel in a space shuttle is obviously not economical.  They would need a fucking nuclear reactor in low earth orbit.  This all turns into sci-fi retardation unless your plan is to try to redirect astroids and crash them into the earth then sift through them there, but that's another sci-fi fantasy to safely slow down these enormous objects from 10,000mph+ to zero and crash it into the earth without causing armageddon.  That's a lot of collateral damage to be had destroying an entire continent or worse should something go wrong.  Also, none of this stuff would even be considered unless the price of gold and silver was already like $20,000+ & $1000+ silver in the first place.
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