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Question: Price Target for Nov. 30, 2024:
<$75K - 4 (3.3%)
$75K to $80K - 1 (0.8%)
$80K to $85K - 2 (1.7%)
$85K to $90K - 10 (8.3%)
$90K to $95K - 15 (12.4%)
$95K to $100K - 27 (22.3%)
>$100K - 62 (51.2%)
Total Voters: 121

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26586278 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.)
DaRude
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In order to dump coins one must have coins


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May 12, 2020, 06:29:32 PM


That damn tether thing is a huge liability and the next big thing to pop
Hueristic
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Doomed to see the future and unable to prevent it


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May 12, 2020, 06:34:59 PM
Merited by El duderino_ (4), JayJuanGee (1)


Interestingly enough, that user has absolutely no crypto any more and is flat broke from the last update that I saw from them; pretty sad story really

Wooow really.... what a n00b

Yeah man, I'll try to find the whole story later when I've got a bit of time

EDIT: Found it quicky... they changed their username but here's the story

https://np.reddit.com/r/Bitcoin/comments/cogbjt/this_guy_gets_it_5years_ago_look_at_how_he_was/ewidaol/

Katie Charm / James Daniel Davis / americanpegasus / Shade7x - Blew 2.5 million dollars to live out his fetish
https://kiwifarms.net/threads/katie-charm-james-daniel-davis-americanpegasus-shade7x.32306/
BayAreaCoins
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Owner at AltQuick.com


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May 12, 2020, 06:38:23 PM

brrrrr

I think there should be a difference in brrrrr of Tether.

It should be trrrrr for more clarity.

Retarrrrrrrrrrded
DaRude
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In order to dump coins one must have coins


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May 12, 2020, 06:43:21 PM

brrrrr

I think there should be a difference in brrrrr of Tether.

It should be trrrrr for more clarity.

Retarrrrrrrrrrded


Their market cap is $6B does that mean that Finex is supposed to have $6B stashed in different bank accounts? Pretty sure every US district attorney is salivating to jump on that case and arrest their US denominated accounts. That is if they don't exit scam before that
JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"


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May 12, 2020, 06:43:37 PM

That damn tether thing is a huge liability and the next big thing to pop


Reminds me of that famous Mark Twain idea:  Rumors of my death have been greatly exaggerated.

gentlemand
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Welt Am Draht


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May 12, 2020, 06:44:06 PM

Katie Charm / James Daniel Davis / americanpegasus / Shade7x - Blew 2.5 million dollars to live out his fetish
https://kiwifarms.net/threads/katie-charm-james-daniel-davis-americanpegasus-shade7x.32306/

I remember reading about him/her/it/they/mx a few months back. A truly nutty tale. It sounded like their life was 100% destroyed. I guess being a manic visionary eventually comes with a downswing too. An industrial strength one in their case.
Hueristic
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May 12, 2020, 06:44:24 PM

Seems like the miners squished out every little hash rate left in their miners yesterday, reaching an ATH at the day of the halving:
Bitcoin Hashrate All Time High May 11, 2020:  149.72 EH/s

Currently we are estimated to be down with about 21% after the halving. Lets monitor how this evolves, no 'minder dead spiral' yet it seems.
Current Bitcoin Hashrate:  118.64 EH/s


W0w, I remember saying FUCK when it hit a Petahash.

Actually thats what told me its too late to mine this shit. Lol

I should have ignored that and mined anyway.
Hueristic
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May 12, 2020, 06:45:58 PM

Katie Charm / James Daniel Davis / americanpegasus / Shade7x - Blew 2.5 million dollars to live out his fetish
https://kiwifarms.net/threads/katie-charm-james-daniel-davis-americanpegasus-shade7x.32306/

I remember reading about him/her/it/they/mx a few months back. A truly nutty tale. It sounded like their life was 100% destroyed. I guess being a manic visionary eventually comes with a downswing too. An industrial strength one in their case.

I heard hes been back sniffing around the alt section but I haven't bothered to look.



That damn tether thing is a huge liability and the next big thing to pop

I thought so years ago but it just keeps on trucking against all logic so wtf do I know?
jojo69
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May 12, 2020, 06:50:15 PM
Merited by JayJuanGee (1), 600watt (1)

the market can remain scammy longer than you can remain honest
JayJuanGee
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Self-Custody is a right. Say no to"Non-custodial"


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May 12, 2020, 06:54:23 PM
Merited by Last of the V8s (1)


Interestingly enough, that user has absolutely no crypto any more and is flat broke from the last update that I saw from them; pretty sad story really

Wooow really.... what a n00b

Yeah man, I'll try to find the whole story later when I've got a bit of time

EDIT: Found it quicky... they changed their username but here's the story

https://np.reddit.com/r/Bitcoin/comments/cogbjt/this_guy_gets_it_5years_ago_look_at_how_he_was/ewidaol/

Katie Charm / James Daniel Davis / americanpegasus / Shade7x - Blew 2.5 million dollars to live out his fetish
https://kiwifarms.net/threads/katie-charm-james-daniel-davis-americanpegasus-shade7x.32306/


Wow.  He does not look too bad as a guy, but as a girl.. holy shit.  That just seems like a lack of appreciation for working with the cards that you have been dealt.

I actually remember thinking a lot of negative things about myself as a teenager, and even though i am not going to go into details about those delusional inferiority complex aspects, I remain quite grateful to have had enough guidance in my life to attempt to work on the positives rather than to make drastic changes that would have been fighting reality.

Sure maybe many of us would want to change our circumstances, and especially if there were a compelling reason... but in my humble bumble opinion, the guy looked o.k. as a guy, so he could probably have been picking up guys, gals or just had options and just working on the cards that he had been dealt.

Some of us, surely need to work on our brains, first.  Many of us have problems, but just think about how fortunate any of us are going to be, if we can figure out better ways to work with what we got and to build upon what we have, rather than fighting reality.
bkbirge
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May 12, 2020, 07:01:22 PM

Some of us, surely need to work on our brains, first.  Many of us have problems, but just think about how fortunate any of us are going to be, if we can figure out better ways to work with what we got and to build upon what we have, rather than fighting reality.

Thought you were talking about Craig Wright or John McAfee for a second.
bitebits
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Flippin' burgers since 1163.


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May 12, 2020, 07:06:02 PM

There are currently about 18,375 million bitcoins in circulation. Think I read about four million bitcoins are considered lost, including the estimated one million bitcoins owned by Satoshi that never moved.

That means that there is a real stock of 14,375 million bitcoins. And with a block reward of now 6.25 bitcoins, there are 328,500 new bitcoins mined per year. This puts the inflation of Bitcoin for the next 365 days at around 2.8%.

Yes people tend to forget this. But you made a mistake in your calculation it is 2.3% and not 2.8%.  However you look at it, it is very close to Gold. Bitcoins future is scarce.


Thanks for checking Febo, I intended to type 2.28% instead ((328,500 / 14,375,000) x 100 = 2.28%).

Of course the number of lost bitcoins is just a guesstimate, maybe even a bit high which exaggerates the above calculated current Bitcoin inflation. Over time we can with more certainty say how many bitcoins can really be considered lost (not moved for 50 years for example).

Private keys will however continue to be permanently lost, contrary to gold: Don’t think much gold still gets sunk to the bottom of the ocean nowadays, and even then it might be retrieved one day. Same for the gold used in electronics and teeth, it all gets recycled.

Bitcoin’s current inflation is somewhere between 1.78% and 2.28%, it does not matter much anymore. I think the third halving has a big impact on Bitcoin being considered as a store of value.
Wekkel
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yes


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May 12, 2020, 07:41:59 PM

Something to ponder: https://t.co/X2CHqwQeqS
Globb0
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Free spirit


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May 12, 2020, 07:59:32 PM

75 pages? Ill skip it who cares what somebody did with their money.


It doesn't mean crypto did anything wrong. If they are trying to muddy things by association.





eddie13
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BTC or BUST


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May 12, 2020, 08:03:14 PM

If they print tether out of thin air and don't actually have the USD reserves, wouldn't that be just like printing USD out of thin air?

If tether is outed as a scam, wouldn't peopl just sell as much tether as they could for BTC? How would that make BTC dump?

"Tether is a scam so I'm going to sell Bitcoins for tether.." I don't think so..

If a scam came out wouldn't people just be dumping tether for BTC, WDing, and running away with whatever they could?

I don't see how this printing of tether is a bad thing for BTC..

They are just printing more buy orders for BTC, and if it turns out to be a scam, Wouldn't it all just get dumped for BTC?

How does a scam in tether hurt BTC? Wouldn't it just reinforce the fact that Bitcoin is scure, and other shitcoins like centralized tether are not secure or safe compared to Bitcoin?
Globb0
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May 12, 2020, 08:12:40 PM

I thought printed tether was dollars added?
jojo69
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May 12, 2020, 08:22:59 PM

It artificially inflates the number of "dollars" chasing a limited supply of BTC.

I do believe this has had the effect of driving up the BTC price in the past.

The way it hurts is when everyone realizes that the BTC price has been inflated by these fake exchange dollars and the market rushes to a new, lower, consensus price.
bkbirge
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May 12, 2020, 08:28:10 PM

I thought printed tether was dollars added?

I haven't looked at it in awhile but my understanding is that there is some debate about that. This is from a quick google, I don't know how trustworthy or current this info is but something to digest...

https://beincrypto.com/tether-co-founder-it-doesnt-really-matter-if-usdt-backed-by-equal-amount-of-dollars/
Quote
William Quigley, both the CEO of WAX and the Co-founder of Tether, believes that having the exact amount of USD reserves to back USDT is not that important. In fact, what is important is that investors believe it is worth $1.

https://breakermag.com/tether-now-admits-its-not-fully-backed-by-dollars/
Quote
Tether’s website has publicly stated for years that “every tether is always backed 1-to-1, by traditional currency held in our reserves. So 1 USDT is always equivalent to 1 USD.” That claim has been replaced by the following word salad:
“Every Tether is always 100% backed by our reserves, which include traditional currency and cash equivalents and, from time to time, may include other assets and receivables from loans made by Tether to third parties, which may include affiliated entities (collectively, “reserves”). Every tether is also 1-to-1 pegged to the dollar, so 1 USD₮ is always valued by Tether at 1 USD.”

https://coinnounce.com/is-tether-usdt-really-backed-by-us-dollars-whats-the-proof/
Quote
The Tether Blockchain platform was actually initiated by the same person who is the man behind the cryptocurrency exchange, Bitfinex. However, high amounts of speculations as well as accusations hover around Tether, as it is speculated to be a scam. To be very specific, not a single authority has confirmed that the cryptocurrency blockchain platform is really backed by an equivalent amount of Fiat currency is deposited in the Bank.
600watt
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May 12, 2020, 09:05:21 PM


Interestingly enough, that user has absolutely no crypto any more and is flat broke from the last update that I saw from them; pretty sad story really

Wooow really.... what a n00b

i liked his posts. and ironic if he´d have no bitcoin anyomore. bitter.
JimboToronto
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May 12, 2020, 09:09:28 PM
Last edit: May 12, 2020, 09:28:14 PM by JimboToronto
Merited by 600watt (2), vapourminer (1), JayJuanGee (1), AlcoHoDL (1), JSRAW (1), HairyMaclairy (1), Neo_Coin (1), Bitcoinaire (1)

Us boomers got to stick together.

I never liked the term "boomer" as if everyone born between 1945 and 1963 was a member of the same cohort just because they were all products of the postwar economic boom. Yeah, our parents may have all decided to have a zillion kids at the same time (after the Great Depression and WW2 could you blame them?) but really it was 2 distinct groups:
_____

I was a member of the first group, those born in the 1940s and very early 1950s. When I was a kid we still had horse-drawn daily delivery wagons in the city, bringing us our milk, bread, ice, and coal. More people still had iceboxes than refrigerators and more people shoveled coal into their furnaces than had thermostatically-controlled gas or oil. A wringer washing machine was a modern labor-saving device. Many people still used washboards. Public transit was mostly streetcars.

We had no running hot water. On bath night my father would light a gas water heater to warm our bathwater. When my mother did dishes or laundry, she heated water in a big kettle on the kitchen stove. She dissolved ends of bar soap in the dish pan with a metal cage thingy with a handle because they didn't sell liquid dish soap yet.

After dinner, we'd sit around the floor-model vacuum tube radio (no permanent-magnet speakers: a speaker had a voice coil and a field coil) and listen to radio shows like Amos and Andy or The Lone Ranger. Phonograph records were 78 RPM and made of shellac. Most people who had record players had wind-up acoustic phonographs. My father was a classical music collector so he had a electric turntable with a piezoelectric cartridge that you mounted metal needles into with a thumbscrew. It connected to the radio. When the first TV arrived on our block it was quite the novelty. All the neighbors came around to look at the tiny round screen reflected in a mirror because the CRT was mounted vertically. Music was still mostly crooners and big bands.

We bought our meat at a butcher shop, our produce from a greengrocer, and what baked goods that weren't homemade came from a bakery. Cheese was cut and weighed by the piece, also by the butcher.
_____

By the mid-1950s everything seemed to change. Everybody had a fridge, hot water, an automatic washing machine (and dryer) and a thermostat. All the horses and many of the streetcars were replaced by internal combustion engines. Supermarkets replaced specialized food shops. Foods were pre-wrapped and packaged.

Television ruled. Radios were relegated to music and to a small degree, talk. TV commercials effected how people shopped, ate, clothed themselves and went about their daily lives. The propaganda was relentless. McCarthyism gave us a new enemy to hate and fear. It wasn't the Gerrys and Japs anymore. It was the Commies.

As the decade went on, transistors started replacing vacuum tubes and vinyl replaced shellac. Rock&roll replaced swing and new attitudes arose. It was OK to have fun and be sexy again, just like during the roaring '20s before the Depression and the war made everybody miserable and security-conscious.

Anyone who wanted a job could get one and everyone seemed to have lots of money. A guy with an average job could afford to own a home, a cottage, a stay-at-home wife, 3 or 4 kids, a new car every 3 years, and still be able to save enough to send his kids to college.

The "boomers" born in these times were a completely different cohort from the "boomers" of the 1940s.
_____

Modern generational divisions are usually based on technological or social differences. GenXers are those who came after the cultural upheaval of the early 1960s with the Kennedy assassination and the emergence of the counterculture. The Millennials are defined by growing up with the internet. GenZ by life-long internet access and post 9/11 oppression. Gen Alpha by social media.

The early and late Boomers, however, get lumped together despite major societal and technological changes in the 1950s simply because of their numbers, which has more to do with their parents than them.
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