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

[bitserve]

Lol, monopoly is more accurate than I thought... They need to make a bitcoin/crypto edition too where bank is non existent in the game, I'm surprised they haven't come up with that yet

Bitcoin won't make banks magically disappear. If Bitcoin succeeds, banks will adopt Bitcoin, and you will use banks.

Why would I if I can be my own bank? If you have your own phone, do you still go to the taxophone to make a call?

Because if Bitcoin ever really becomes a global currency (even if not the only or main one) there will be increased regulation about it. And also because business will still need to use banks for many reasons and it is very probably that you will need to deal with those business. Unless you go to a remote land and live completely outside of society.

Banks are not who print money. It's governments that do and use banks in the process. Even if some day the "fiat printing" ends (something which I don't see in any near future) banks will still exist to give some other services like loans, custody, exchange, brokering,  etc...

[jojo69]

"services"

[realr0ach]

Taproot proposal https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2019-May/016914.html

How many times do I have to explain to you noobs that opt-in mixing will just be classified by the government as identical to money laundering so if you use it, you're just flagging yourself to be hauled off to jail.  Fungibility cannot be opt-in you fucking idiots!  It has to be an inherent property of every transaction, which is the antithesis of 'blockchain' since storing a permanent history of everything makes them non-fungible by default.  

Unless you get into bizarro world, zero knowledge proofs, which just bring even more problems to the equation than they actually solve.  Everything digital is an exercise in idiocy when physical metals already solve all of these problems from decentralization, to throughput, fungibility, privacy, and everything else.  'Bitcoin' is NOT money.  Anything 'blockchain' is nothing more than a system of control.  But just like vampires can't come in if you don't let them, Bitcoin has no power over you unless you agree to use it instead of metals.

[skysblu]

Literally that is how the price of bitcoin affects me lately, wish this recent pump waited a few more days when my exams finish. Now I legit can't focus on this stuff as I'm constantly on bitcoin stuff fml

[bitserve]

"services"

"People" need those "services". Specially loans... they do love to spend money they don't have. It doesn't matter if the denomination is USD... or BTC.

[dragonvslinux]

If I had to title this TA, it'd be called "The bearish case is becoming increasingly difficult to argue"



VPVR since $8K breakout in November 2017 says we are above the median volume line.
Closing above the $8350 level this week would look uber bullish on this indicator.

[Biodom]

If I had to title this TA, it'd be called "The bearish case is becoming increasingly difficult to argue"



VPVR since $8K breakout in November 2017 says we are above the median volume line.
Closing above the $8350 level this week would look uber bullish on this indicator.

Funny...someone could have gone sailing around the globe since Oct-Nov 2017 (with no internet) and miss the whole lot of excitement.
Fortunes were made and lost.

[El duderino_]

1917, the dude approved

[JayJuanGee]

If I had to title this TA, it'd be called "The bearish case is becoming increasingly difficult to argue"



VPVR since $8K breakout in November 2017 says we are above the median volume line.
Closing above the $8350 level this week would look uber bullish on this indicator.

Funny...someone could have gone sailing around the globe since Oct-Nov 2017 (with no internet) and miss the whole lot of excitement.
Fortunes were made and lost.

Suggestion for a poll: what % of your bitcoin you would sell for fiat or other investments at btc=50K (or 100K, but 50K looks more realistic right now):

None
0.1-10%
10-20%
a third
half
3/4
All

Personally, I believe that is NOT a fair question because any BTC price is a product of where it is and how much time it takes to get there, so to be fair, we need a time.  February 2020?  October 2020?   October 2021? October 2024?  or some other date?

[Biodom]

If I had to title this TA, it'd be called "The bearish case is becoming increasingly difficult to argue"



VPVR since $8K breakout in November 2017 says we are above the median volume line.
Closing above the $8350 level this week would look uber bullish on this indicator.

Funny...someone could have gone sailing around the globe since Oct-Nov 2017 (with no internet) and miss the whole lot of excitement.
Fortunes were made and lost.

Suggestion for a poll: what % of your bitcoin you would sell for fiat or other investments at btc=50K (or 100K, but 50K looks more realistic right now):

None
0.1-10%
10-20%
a third
half
3/4
All

Personally, I believe that is NOT a fair question because any BTC price is a product of where it is and how much time it takes to get there, so to be fair, we need a time.  February 2020?  October 2020?   October 2021? October 2024?  or some other date?

the poll idea was premature anyway (for some reason i thought that today is already 17th), so I deleted it while you were typing.
Disconnecting and proceeding to watch "Dark"-first couple episodes were meh, will try one more and see if it picks up.

[Icygreen]

Just spent an hour educating myself on Bitcoin entropy inspired by a r0ach post, haha. Picked up a couple gems from here anyway.
https://medium.com/the-bitcoin-times/bitcoins-eternal-struggle-2c197f1bafd8
I liked the argument that BTC is mostly informational however nonetheless physical which negates r0aches claim that it's imaginary.

I don't have to ask permission to anyone to do something with a silver coin in my hand.   

What is this 'something' you're doing with a silver coin? Surely you're not able to spend it like a currency and even if someone had agreed to accept it as payment, you'd need several wheelbarrows full transported and authenticated to exchange for a decent used car.    At least Bitcoin works as settlement. Because its immeasurably more convenient and secure than PM's is the primary reasons it's a currency and PM's are not.
I don't buy your hypothetical Armageddon doomsday scenarios of centralization for BTC
Bitcoin is going to be what we make of it.  It will take many years of hard work education and community support to stand proud in our efforts.
Those who are too old, tired, and unproductive should stand aside while fresh minds pave progress.

I leave you with one of my favorite tunes

[jojo69]

you'd need several wheelbarrows full transported and authenticated to exchange for a decent used car.  

hardly

1000 OZ fits in an ammo can

I get where you are coming from and largely agree, but one can easily carry the value of a good used car in Ag with one hand.

[realr0ach]

The value of gold and silver is not the Comex price, you fools.  Assuming gold and silver were the base of the monetary system with 40% traditional backing and 260 trillion global debt, the price of gold would need to be around 30-40x what it is now ($45,000 - $60,000) with silver at astronomical prices of $900-$3000 (minimum 50:1, maximum 20:1 GSR).

[Icygreen]

you'd need several wheelbarrows full transported and authenticated to exchange for a decent used car.  

hardly

1000 OZ fits in an ammo can

I get where you are coming from and largely agree, but one can easily carry the value of a good used car in Ag with one hand.

Fair enough, 1000 ounces, approx. 63 lbs/28 kilos valued at $17,900 will likely be the limit for the average able-bodied human and only for short distances unassisted. 4000 ounces valued at $71,600 would be a heavy wheelbarrow load.

[jojo69]

those are Troy ounces

68.57 pounds plus the can

yeah, they suck to move

[marcus_of_augustus]

Lol, monopoly is more accurate than I thought... They need to make a bitcoin/crypto edition too where bank is non existent in the game, I'm surprised they haven't come up with that yet

Bitcoin won't make banks magically disappear. If Bitcoin succeeds, banks will adopt Bitcoin, and you will use banks.

... banks, central banks in particular, wont magically disappear. They will most likely disappear in spectacular catastrophic collapses, fiatnado firestorms that take large parts of the global economy with them. Or they will disappear with excrutiatingly slow economic stagnation epochs; creating zombie-stumbling, wealth-destroying behemoths roaming the financial landscape preying on anything that looks like growth and suffocating it in command-and-control stymying decline.

Banks in their current incarnation of the modern era only 3-400 years ago came about with the rise of paper money, double-entry book-keeping and credit. Bitcoin's invention of money-as-a-data-type and money-over-internet-protocol makes it hard to overstate the leap ahead these technologies provide versus fiat money, centralised ledgers, fractional reserve custody and command-and-control economic (mis)management through monetary manipulations.

The writing is on the wall for banks, we just don't know what will replace them. A lack of imagination in that regard is no excuse to lazily proclaim that "nothing really changes". It's not unrealistic to expect that now the basic building blocks of money-as-a-data-type and money-over-internet-protocol are demonstrated to the information age, and now being built out to a production ready state, that many of the 'services' of modern financial institutions can be simply replaced by algorithmic tools and machine programmes, i.e. code.

[marcus_of_augustus]

what impresses me about blockchain.info's exponential growth of wallet users is that it has continued long after them no longer being the only game in town and the absolute proliferation of other bitcoin 'web' wallets out there now.

https://www.blockchain.com/charts/my-wallet-n-users?timespan=all

[Icygreen]

BTCUSDLONGS Bitfinex has nearly reversed its position from a couple weeks ago.
Meaningful or not, its still impressive, pretty lines. That long position made out quite well recently I suspect.
By comparison, BTCUSDSHORTS Bitfinex are also on the rise lately.

[Searing]

Well, things seem to be moving up again here in the last hour or so. I wonder how much of all this hype to buy 'any coin of any flavor' has to do with the 'obvious' IMHO

massive wash trading on 'sketchy' BSV exchanges. The old saw of buying a little bit of sh*tcoin and compensate by buying more legit crypto out of how dirty you feel (hey don't judge)

but man, whatever you say about BSV, if this is not massive wash trading....well...then the whole BSV pump is befuddling to me....can you say BSV 'exit scam?' IMHO.

Anyway, like the movement even though just getting started. A nice huge weekend pump would make the blizzard the next 2 days in Minnesota go a lot better, let me tell ya!

[jupiter9]

Took some time to read 25 pages back and found...
nothing!

Good to be back, hopefully for good

You found nothing? What are you looking for? Girls?

Hey homie! You clearly don't know who do you want to f*** with here.

Auto-Censorship mode ON

This is Stock to Flow in full power!

That's it! Time is on our side now

You are a bad reader anyway. Why don't you censore all users here? You couldn't find anything on the 25 pages? So you can f*** with all users here who posted some usefull content and say you found nothing. But nobody can't say anything to you. You block him right away. If you are too sensitive you must censore your words!