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

[octaft]

Do you say, that Satoshi Nakamoto created decentralized payment system, which are using hundreds of thousand people around the world, less useful than toilet paper?

I would like to know what drugs you take, but i would like to try them  

Hundreds of thousands of people use bitcoin. Hundreds of millions of people use toilet paper. Which do you think is more useful again?

Useful for what?

He's basing the usefulness of bitcoin on how many people use it. If you're going to do that, toilet paper wins hands down.

[podyx]

Do you say, that Satoshi Nakamoto created decentralized payment system, which are using hundreds of thousand people around the world, less useful than toilet paper?

I would like to know what drugs you take, but i would like to try them  

Hundreds of thousands of people use bitcoin. Hundreds of millions of people use toilet paper. Which do you think is more useful again?

Useful for what?

He's basing the usefulness of bitcoin on how many people use it. If you're going to do that, toilet paper wins hands down.

You can't deny that bitcoin will need atleast 0.1% of the world to use bitcoin to work though.

But that will probably happen pretty soon. It's just 1 out of 1000 people which need to.

[edwardspitz]

https://twitter.com/kLee1977/status/551816269398560768

I think this is not for real...

Did you follow on TeamSpeak? If I was a whale those are the kind of statements I would make if I wanted to accumulate as mush as possible without raising the price.

[podyx]

https://twitter.com/kLee1977/status/551816269398560768

I think this is not for real...

Who is bearwhale benjamin anyway? The 30k XBT whale?

[diabLEEca]

Hundreds of thousands of people use bitcoin. Hundreds of millions of people use toilet paper. Which do you think is more useful again?

I'm afraid you've got a logical error here.
The fact that toilet paper is used by more people does not imply that it is more useful.
It's like saying that e.g. in Africa contraception is less useful than having multiple children dying of hunger just because the latter is used much more often. ( ͡º ͜ʖ͡º)

[molecular]

If we see double digit Bitcoin in 2015 then I am quite sure that an Altcoin could have the throne up for grabs.
I though mass adoption and infrastructure would solidify btc's place. But I'm less certain now. Enough investment in an Altcoin wouldn't be unthinkable. Plus it seems like just clown-money in Bitcoin atm anyway - ie just buyers looking to trade and not use for anything productive. Silk Road was the best thing that happened to BTC. Those days everyone knew someone that was actually using Bitcoin to buy drugs with (where I live anyway). After the shutdown all those guys sold and most can't be bothered using the other dark markets after the shut down and buy their shit back on the streets.

Black Markets are flourish as ever. Your information is wrong.

Conceited kunts like you are half the reason people can't be fucked with this tech.


Let me rephrase. Silk Road was the only time I've seen so far that average people who would otherwise not care about BTC were forced to use it (adopt it) because they wanted their online drugs. Henceforth when they had to work a little bit harder or were too scared after the shut down they left the scene.

Not saying it was the right direction for BTC but it demonstrated for me how it needs to be adopted to succeed. And it will not be successful based on the sound-money arguments without a systemic financial collapse of the currency system (still possible).
Until then pay-wave credit cards have BTC beat.

I was with you until the very last sentence.

You're arguing sound-money property would be a win for BTC if fiat system fails and with you next breath you state the BTC would be beaten in payment space. I don't think BTC will go down by not being a good payment system. It's already a bad payment system.

[ChartBuddy]

Explanation

[NotLambchop]

Hundreds of thousands of people use bitcoin. Hundreds of millions of people use toilet paper. Which do you think is more useful again?

I'm afraid you've got a logical error here.
The fact that toilet paper is used by more people does not imply that it is more useful.
It's like saying that e.g. in Africa contraception is less useful than having multiple children dying of hunger just because the latter is used much more often. ( ͡º ͜ʖ͡º)

If we're going to venture into logics, what you got there is an ill-formed statement.  Children are not an (intentional) substitute for contraception, but a result of its absence.
If usefulness of toilet paper is not self-evident to you, I'm afraid our differences are too great to be settled by an interwebs debate.

[goldsun]

What is it exactly, that drives the price down?

What about everyone who said more adoption will lead to a price increase. I guess that's not the way it is.

[ShroomsKit]

What is it exactly, that drives the price down?

What about everyone who said more adoption will lead to a price increase. I guess that's not the way it is.

There isn't more adoption. Less and less people use Bitcoin.

[octaft]

Hundreds of thousands of people use bitcoin. Hundreds of millions of people use toilet paper. Which do you think is more useful again?

I'm afraid you've got a logical error here.
The fact that toilet paper is used by more people does not imply that it is more useful.
It's like saying that e.g. in Africa contraception is less useful than having multiple children dying of hunger just because the latter is used much more often. ( ͡º ͜ʖ͡º)

That analogy is godawful. Nobody "uses" multiple children dying of hunger. I was just pointing out that if your primary defense for bitcoins usefulness is how many people use it (like his was), well, many more people use toilet paper than bitcoin.

[findftp]

What is it exactly, that drives the price down?

Fear, and supply

What about everyone who said more adoption will lead to a price increase. I guess that's not the way it is.

Well, since day one 1234562345546536546754345% price increase, so you're wrong about that.

[podyx]

What is it exactly, that drives the price down?

What about everyone who said more adoption will lead to a price increase. I guess that's not the way it is.

I like to think this quote is relevant: "the market can stay irrational longer than you can stay solvent"

[macsga]

What is it exactly, that drives the price down?

What about everyone who said more adoption will lead to a price increase. I guess that's not the way it is.

[Wandererfromthenorth]

When an impatient bagholding BTC BearWhale dumps on a perma-bull from r/bitcoin who wanted to get rich quick:

[octaft]

What is it exactly, that drives the price down?

What about everyone who said more adoption will lead to a price increase. I guess that's not the way it is.

I like to think this quote is relevant: "the market can stay irrational longer than you can stay solvent"

Yeah, market's been irrational for about 2 years.

[NotLambchop]

What is it exactly, that drives the price down?

Fear, and supply

What about everyone who said more adoption will lead to a price increase. I guess that's not the way it is.

Well, since day one 1234562345546536546754345% price increase, so you're wrong about that.

No.  There's implicit causation in "[greater] adoption will lead to a price increase."  Over the past year, adoption has [arguably] increased, price has tanked, so no causal relationship
/dweeb mode

[diabLEEca]

If we're going to venture into logics, what you got there is an ill-formed statement.  Children are not an (intentional) substitute for contraception, but a result of its absence.
If usefulness of toilet paper is not self-evident to you, I'm afraid our differences are too great to be settled by an interwebs debate.

Alright then, replace children with cigarettes - pretty sure they're used much more frequently than contraception in many parts of the world - doesn't make it more useful at all.

And saying that toilet paper's usefulness is self-evident is equal to saying "My dick is bigger than yours because I say so and it's so obvious I don't have to prove anything to you".
Wonder if that's ever worked to convince your opponent in a dispute.   Surely they just take your word for it and don't laugh at all.

Btw, talk about toilet paper to someone in India and you'll see it may not be equally useful to everyone afterall.

[macsga]

/dweeb mode

Code:

dweeb |dwēb| noun N. Amer. informal
a boring, studious, or socially inept person.

LOL!

[Wandererfromthenorth]

Well, since day one 1234562345546536546754345% price increase, so you're wrong about that.

?

In a few weeks perma-bulls be like:



"haha bear trolls BTC price is still at $50! more than X500 since its inception!!! already going for $65 prepare for moonshot  "