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

[Richy_T]

@Ricchy_T:  My trust wasn't misplaced--no one ever told me that the USD will not depreciate over time.   My dollar has also never debased itself by 70% in the course of a year.
Your Bitcoin, OTOH...  Someone promised me $30k coins by last Christmas.  What happened

Aren't we over 80% at this point? keep up.

What happened is greed and delusion and China.

[LittleDigger]

Aren't you lucky that there is someone in this thread whom you can vent your frustration on when you see your investment do in 1 year what the dollar did in 100 years?

Glad to oblige.

PS. Only idiots keep their savings as currency.  I wonder if it is genetic?

It's only taken the dollar about 50 years fwiw.

Richy, you simply don't understand how things work.
The dollar is a means of exchange, it is not intended to be a good store of value.  Its value depreciates over time, just as it is meant to do.

Only the illiterate few stuff it in mattresses/jelly jars.  the same sort of people who put unfinished food under their bed, and complain when it's not edible a year later.
How can this be so difficult to grasp?

And US Treasury Bonds are the safest investment, right?

http://www.bloomberg.com/news/2015-01-14/treasury-bond-yield-drops-to-record-as-oil-rout-damps-inflation.html
http://usawatchdog.com/fed-laundering-treasury-purchases-in-belgium-to-disguise-whats-happening-paul-craig-roberts/
http://www.globalresearch.ca/petrodollar-panic-china-signs-currency-swap-deal-with-qatar-and-canada/5413467

[NotLambchop]

My wealth keeps being stolen from me but it's okay because it's supposed to happen!

Nothing is being stolen.  Nothing will be taken from you if you don't use the dollar for stuff it was never intended to do, like trying to use it as a permanent store of value.
You might as well bitch about the $ being a gyp because it makes a lousy pet.
It's not meant to be matress stuffing any more than it's meant to be a pet.
What level of lunacy am I up against here?  Do you complain about milk being a ripoff because it doesn't last for years?

[samsonn25]

This thread will reach 11000 pages by the time the second playoff game is finished today.

[NotLambchop]

@Ricchy_T:  My trust wasn't misplaced--no one ever told me that the USD will not depreciate over time.   My dollar has also never debased itself by 70% in the course of a year.
Your Bitcoin, OTOH...  Someone promised me $30k coins by last Christmas.  What happened

Aren't we over 80% at this point? keep up.

What happened is greed and delusion and China.

Over 80% what?
Did someone promise YOU that the USD would not depreciate over time?  
No one has ever promised me that the USD would not become less valuable over time.  OTOH, I was promised by many here that Bitcoin could only appreciate over time, because math and sciences.

[Richy_T]

Richy, you simply don't understand how things work.
The dollar is a means of exchange, it is not intended to be a good store of value.  Its value depreciates over time, just as it is meant to do.

Only the illiterate/insane few stuff it in mattresses/jelly jars.  The same sort of people who put unfinished food under their bed, and complain when it's not edible a year later.
How can this be so difficult to grasp?

"Meant"? Says who? The US Govt and friends who benefit from inflation. Fine, if you're happy with that, stick with it.

The uninformed expect a dollar this year to be the same as a dollar next year. These people get robbed. The informed know it won't be and invest in stocks and bonds and get front-run by those who receive early information on the government's inflationary policies. These people get robbed. Instead of money being invested in businesses and technology and making life better for everyone, someone at Goldman Sachs gets to pick the gold-rail option for their yacht. It's time for a change.

And I don't get your point. No one is discussing promises. We are stating what *is*.

[SirChiko]

Anyone have any news what caused the sudden drop? I've been out of reach for some time 

[WeltMaster]

My wealth keeps being stolen from me but it's okay because it's supposed to happen!

Nothing is being stolen.  Nothing will be taken from you if you don't use the dollar for stuff it was never intended to do, like trying to use it as a permanent store of value.
You might as well bitch about the $ being a gyp because it makes a lousy pet.
It's not meant to be matress stuffing any more than it's meant to be a pet.
What level of lunacy am I up against here?  Do you complain about milk being a ripoff because it doesn't last for years?

>Nothing is being stolen.

Yes it is, your purchasing power is being stolen due to the influx of the supply, year on year, without fail, and gets exponentially worse.
If you don't understand that then there isn't much hope for you.

>Do you complain about milk being a ripoff because it doesn't last for years?

Nobody uses milk for it's purchasing power, now or future. It's a good that is bought and 'used'.

>What level of lunacy am I up against here?

ditto

[NotLambchop]

Richy, you simply don't understand how things work.
The dollar is a means of exchange, it is not intended to be a good store of value.  Its value depreciates over time, just as it is meant to do.

Only the illiterate/insane few stuff it in mattresses/jelly jars.  The same sort of people who put unfinished food under their bed, and complain when it's not edible a year later.
How can this be so difficult to grasp?

"Meant"? Says who? The US Govt and friends who benefit from inflation. Fine, if you're happy with that, stick with it.

The uninformed expect a dollar this year to be the same as a dollar next year. These people get robbed.

These people are monumentally stupid & are likely the very same people who invested in Bitcoin a year ago.  
The fool and his money

The informed know it won't be and invest in stocks and bonds and get front-run by those who receive early information on the government's inflationary policies. These people get robbed. Instead of money being invested in businesses and technology and making life better for everyone, someone at Goldman Sachs gets to pick the gold-rail option for their yacht. It's time for a change.

Non-inflationary currency would not get invested during economic downturns.  You don't understand finance, and that's fine--but arguing this is getting a bit repetitive.  Please educate yourself & return when you have something more than your paranoia about banksters to share.
ty

[LittleDigger]

My wealth keeps being stolen from me but it's okay because it's supposed to happen!

Nothing is being stolen.  Nothing will be taken from you if you don't use the dollar for stuff it was never intended to do, like trying to use it as a permanent store of value.
You might as well bitch about the $ being a gyp because it makes a lousy pet.
It's not meant to be matress stuffing any more than it's meant to be a pet.
What level of lunacy am I up against here?  Do you complain about milk being a ripoff because it doesn't last for years?

Sigh... the demand for the US dollar is being propped up as it was the "petrodollar" now Russia is selling oil in other currencies, Iran has also proposed this, and was going to build a pipeline through Syria.. until it destabilized...

The dollar is also the "reserve currency" this was agreed to at the end of WW2, backed by gold, until other countries noticed so many dollars being printed and started asking to have it redeemed for gold, and Nixon switched to "fiat".. China is challenging this by backing their currency with gold.. I assume you know the reserve currency is the currency in which commodities are priced and traded in...

Basically there is a "Currency war" raging right now, and if the US "loses" the dollar will be in trouble... C'mon Lambchop don't tell me you don't know the basics of the monetary system...

[NotLambchop]

...
>Do you complain about milk being a ripoff because it doesn't last for years?

Nobody uses milk for it's purchasing power, now or present. It's a good that is bought and 'used'.
...

No one uses money as a permanent store of value either.  At least no one sane does.  
Now that you know this, stop.

@LittleDigger:  Good thing you invested your worthless USD into SexCoin, the seriously excellent store of value immune to "currency wars"

[WeltMaster]

No one uses money as a permanent store of value either

But they do.

If money wasn't a store of value then it would be worthless.

>permanent

Why the fuck not?

I bet you're a cuck too.

[fonsie]

My wealth keeps being stolen from me but it's okay because it's supposed to happen!

Nothing is being stolen.  Nothing will be taken from you if you don't use the dollar for stuff it was never intended to do, like trying to use it as a permanent store of value.
You might as well bitch about the $ being a gyp because it makes a lousy pet.
It's not meant to be matress stuffing any more than it's meant to be a pet.
What level of lunacy am I up against here?  Do you complain about milk being a ripoff because it doesn't last for years?

Sigh... the demand for the US dollar is being propped up as it was the "petrodollar" now Russia is selling oil in other currencies, Iran has also proposed this, and was going to build a pipeline through Syria.. until it destabilized...

The dollar is also the "reserve currency" this was agreed to at the end of WW2, backed by gold, until other countries noticed so many dollars being printed and started asking to have it redeemed for gold, and Nixon switched to "fiat".. China is challenging this by backing their currency with gold.. I assume you know the reserve currency is the currency in which commodities are priced and traded in...

Basically there is a "Currency war" raging right now, and if the US "loses" the dollar will be in trouble... C'mon Lambchop don't tell me you don't know the basics of the monetary system...

Don't waste your time on this dumb troll, the only thing he knows, is what his bronies told him. He has invested all of his currency in My Little Pony dolls.

[Richy_T]

Non-inflationary currency would not get invested during economic downturns.  You don't understand finance, and that's fine--but arguing this is getting a bit repetitive.  Please educate yourself & return when you have something more than your paranoia about banksters to share.
ty

Freaking Keynesians.

Less non-inflationary currency would get invested during economic downturns. Money is a claim on resources. During an economic downturn, resources need to be used more efficiently. Money that would not be used for useful purposes (luxury goods, frivolous projects) would be withheld, resources are freed up and projects which actually benefit the economy move forward with reduced costs.

This "pay one man to dig a hole and another to fill it in" stimulus shit needs to be jettisoned. It only retards recovery (and enriches the guy running the program, of course).

[NotLambchop]

No one uses money as a permanent store of value either

But they do.

If money wasn't a store of value then it would be worthless.

But that's stupid.  Not a good long-term store of value doesn't mean not a store of value.  Capacitors store electrical charge, but have internal leakage that makes them lose that charge over time.  Bigass filter caps are INTENTIONALLY bypassed with bleed-down resistors, does that make caps useless?

[NotLambchop]

Non-inflationary currency would not get invested during economic downturns.  You don't understand finance, and that's fine--but arguing this is getting a bit repetitive.  Please educate yourself & return when you have something more than your paranoia about banksters to share.
ty

Freaking Keynesians.

Less non-inflationary currency would get invested during economic downturns. Money is a claim on resources. During an economic downturn, resources need to be used more efficiently. Money that would not be used for useful purposes (luxury goods, frivolous projects) would be withheld, resources are freed up and projects which actually benefit the economy move forward with reduced costs.
...

I suspect you learned everything you know about Keynes from stormfront.org a reliable source.

[DeadCoin]

Currency is supposed to circulate, not to be hoarded or hidden under the mattress. It's not expected to rise in value.

You people should stop following Mises and Austrian economics. We're no longer in gold standard, you should learn how modern monetary system works before writing nonsense.
 

[solex]

Non-inflationary currency would not get invested during economic downturns.  You don't understand finance, and that's fine--but arguing this is getting a bit repetitive.  Please educate yourself & return when you have something more than your paranoia about banksters to share.
ty

Freaking Keynesians.

Less non-inflationary currency would get invested during economic downturns. Money is a claim on resources. During an economic downturn, resources need to be used more efficiently. Money that would not be used for useful purposes (luxury goods, frivolous projects) would be withheld, resources are freed up and projects which actually benefit the economy move forward with reduced costs.

This "pay one man to dig a hole and another to fill it in" stimulus shit needs to be jettisoned. It only retards recovery (and enriches the guy running the program, of course).

Correct.

Why not have a super-hurricane every year to really get the economy going?

[fonsie]

Non-inflationary currency would not get invested during economic downturns.

The same amount of dollars that were printed in QE program ended up on the saving accounts of the rich, so it did not help the economy.
Poor you and your bronies were pushed even further into the shit.

But hey, it's ok if you and your bronies like being kicked in the nutts by uncle same, he sure loves doing it.

 

[LittleDigger]

...
>Do you complain about milk being a ripoff because it doesn't last for years?

Nobody uses milk for it's purchasing power, now or present. It's a good that is bought and 'used'.
...

No one uses money as a permanent store of value either.  At least no one sane does.  
Now that you know this, stop.

@LittleDigger:  Good thing you invested your worthless USD into SexCoin, the seriously excellent store of value immune to "currency wars"

For me not to profit from Crypto, bitcoin would have to go a couple of thousand into the negatives...

But I moved the majority of my liquidity into hard assets, just like Warren Buffett has been doing...

Bitcoin aside, I don't think you really understand how money works, which surprises me.. All joking aside, I thought you have made some intelligent arguments, but it's obvious you don't even understand what a "fiat" currency is, what the "reserve currency" is, what the "petrodollar" is, and how it came about..

That's a real pity, because in the coming years it will be useful information...