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

[BlindMayorBitcorn]

[JimboToronto]

1 stateroom, a galley, full head...

...get the basic fucking nomenclature right.

I for one find it annoying that sailors have to have a different word for everything.

"Left, right and downstairs" are perfectly acceptable words. We don't need "port, starboard and below".

It reminds me of doctors and pharmacists using Latin to try to make themselves look esoteric and cool.

You don't need a language that's been dead to all but a few religious kooks for over a thousand years to say "take once a day" or "as required".

I guess it's no different than the argot spoken by junkies.

 

[12345mm]

well ... if this thing ever were to hit 1% of monetary that'd probably be due to a global currency devaluation tipping point and collapse of nations in the process (several nations) and likely not stop at only 1% ... so i'm not exactly rooting for that what with war and suffering and all ... besides which at less than 2% or 100,000 per that'd already make satoshi the single richest person on earth , surpassing gates by a few dozen billion ... somehow i think bringing us the operating system on which 80% of the world's computers function ought to be worth more than a piece of software run on it ... at 20% of monetary or 1M a coin he'd officially be a trillionaire and could buy a good chunk of a continent and turn it into a private panda hunting preserve ... one of the southern hemisphere ones anyway ... at 100% we're knowingly crowning a money god(s) and likely assuring tyranny for the foreseeable future of humanity / making jesus mad and ushering in the apocalypse ... i tend to not be optimistic when it comes to overlords ... i don't know about you all but i'm at least somewhat comforted by the fact that we've got like 2000 billionaires running this world ... better than 1 person holding the reigns single handed ... especially if nobody knows his face ... 5k per coin (or 0.1% of monetary) is wayyyy more than enough of a valuation and much more realistic and still gives a total value to all btc in existence in excess of 100B ...

as for nautical terms ... poop deck ...

[billyjoeallen]

that's what i'm sayin ... if it has more than 1 bedroom , a kitchen , full bath , and is bluewater capable ... it's a yacht in my book ... those extra feet won't help you spear fish any better anyways

1 stateroom, a galley, full head

You obviously don't know shit about boats.
You have no business owning something when you can't even get the basic fucking nomenclature right.

Wow.  So I guess you have a perfect understanding (and grasp of nomenclature, of course) of everything you use/own/aspire to own.  Impressive.   Care to run down the nomenclature pertaining to the suspension and drive systems on your car? or the weave/stitching on your red neck T-shirt?  Or do you have no business owning it?  Lighten up.  Or crawl back in your bottle.  You are ever so much more entertaining when you are drunk.

again, "basic" is the relevant term. Because my truck is rear wheel drive, it has standard coil springs in front, leaf springs in back and shocks (not struts) all the way around. If someone wanted to operate my zoom machine with bounce cushions, I wouldn't give him my keys.

"basic", motherfuckers. I'm not criticizing him for inability to use a sextant or know the  difference between a ketch and a yawl. These are basic terms.

[empowering]

All to easy for this to happen out there... having spent a lot of time in se asia, it is all too common... in my past I have spent a lot of time bombing around islands on bikes with no helmet, on occasion with a drink or two in me, often on gravel covered roads.. one slip....

R.I.P Adam Tepper  : (

(*misspent youth)

(** I am not  in anyway insinuating Adam Tepper was drinking)

It's always Thailand.

Yeah.... I have seen some god awful shit out there as it goes.

^You like popsickles? Then you need to come down to the cellar. Cause I got a freezer full of popsickles down in the cellar.

I couldn't believe it at first, but you guys seem to be right. Always assumed Bruce Wagner was the exception.

Disturbing.

huh?^^ what the fuck is that all about?

I think I was offering Chris Hansen a refreshing treat. What? Why?

Huh?

I think I am lost.

I just looked up this Chris Hansen (I do not watch television, but have heard of the show)  and Bruce Wagner..

Let me get this straight, in case I am confused....  are you guys saying if you spend time in south east asia you are a pedophile?

That cannot be what you are getting at? because that would be almost one of the stupidest things I have ever heard?



 

[Wary]

Not M1. M2. Including long term savings accounts. I use my bitcoins as M2 today. Long term savings account. On a paper wallet  

Not M2. M1. Money on savings accounts are lended by banks to somebody and put to their current accounts. So, M2=M1+IOU. Bitcoin will replace real money, rather than IOUs.  So, to calculate (maximal) future value of bitcoins we should use M1 or MB, rather than M2.

[Norway]

well ... if this thing ever were to hit 1% of monetary that'd probably be due to a global currency devaluation tipping point and collapse of nations in the process (several nations) and likely not stop at only 1% ... so i'm not exactly rooting for that what with war and suffering and all ... besides which at less than 2% or 100,000 per that'd already make satoshi the single richest person on earth , surpassing gates by a few dozen billion ... somehow i think bringing us the operating system on which 80% of the world's computers function out to be worth more than a piece of software run on it ... at 20% of monetary or 1M a coin he'd officially be a trillionaire and could buy a good chunk of a continent and turn it into a private panda hunting preserve ... one of the southern hemisphere ones anyway ... at 100% we're knowingly crowning a money god(s) and likely assuring tyranny for the foreseeable future of humanity / making jesus mad and ushering in the apocalypse ... i tend to not be optimistic when it comes to overlords ... i don't know about you all but i'm at least somewhat comforted by the fact that we've got like 2000 billionaires running this world ... better than 1 person holding the reigns single handed ... especially if nobody knows his face ... 5k per coin (or 0.1% of monetary) is wayyyy more than enough of a valuation and much more realistic and still gives a total value to all btc in existence in excess of 100B ...

as for nautical terms ... poop deck ...

Relax. Global M2 represents just a tiny fraction of value/wealth in the world. Real estate, oil, stocks etc are a lot more worth. But the banksters will loose their income if bitcoin becomes 100% of M2. And governments have to deal with real budgets. It will be more difficult to raise money for war 

[BlindMayorBitcorn]

All to easy for this to happen out there... having spent a lot of time in se asia, it is all too common... in my past I have spent a lot of time bombing around islands on bikes with no helmet, on occasion with a drink or two in me, often on gravel covered roads.. one slip....

R.I.P Adam Tepper  : (

(*misspent youth)

(** I am not  in anyway insinuating Adam Tepper was drinking)

It's always Thailand.

Yeah.... I have seen some god awful shit out there as it goes.

^You like popsickles? Then you need to come down to the cellar. Cause I got a freezer full of popsickles down in the cellar.

I couldn't believe it at first, but you guys seem to be right. Always assumed Bruce Wagner was the exception.

Disturbing.

huh?^^ what the fuck is that all about?

I think I was offering Chris Hansen a refreshing treat. What? Why?

Huh?

I think I am lost.

I just looked up this Chris Hansen (I do not watch television, but have heard of the show)  and Bruce Wagner..

Let me get this straight, in case I am confused....  are you guys saying if you spend time in south east asia you are a pedophile?

That cannot be what you are getting at? because that would be almost one of the stupidest things I have ever heard?



 

OMG! I just realized NLC would have a field day with this^

Good night and good luck.

[explorer]

"basic", motherfuckers. I'm not criticizing him for inability to use a sextant or know the  difference between a ketch and a yawl. These are basic terms.

But can yawl ketch a ball? 
M1 and M2 2U2 R2D2 MFs!

This thread is too much fun!

[ChartBuddy]

Coin
Explanation

[empowering]

All to easy for this to happen out there... having spent a lot of time in se asia, it is all too common... in my past I have spent a lot of time bombing around islands on bikes with no helmet, on occasion with a drink or two in me, often on gravel covered roads.. one slip....

R.I.P Adam Tepper  : (

(*misspent youth)

(** I am not  in anyway insinuating Adam Tepper was drinking)

It's always Thailand.

Yeah.... I have seen some god awful shit out there as it goes.

^You like popsickles? Then you need to come down to the cellar. Cause I got a freezer full of popsickles down in the cellar.

I couldn't believe it at first, but you guys seem to be right. Always assumed Bruce Wagner was the exception.

Disturbing.

huh?^^ what the fuck is that all about?

I think I was offering Chris Hansen a refreshing treat. What? Why?

Huh?

I think I am lost.

I just looked up this Chris Hansen (I do not watch television, but have heard of the show)  and Bruce Wagner..

Let me get this straight, in case I am confused....  are you guys saying if you spend time in south east asia you are a pedophile?

That cannot be what you are getting at? because that would be almost one of the stupidest things I have ever heard?



 

OMG! I just realized NLC would have a field day with this^

Good night and good luck.

Meh.. I just do not know how we went from Adam Tepper>Fatal motorcycle accident> Thailand>Bad roads/bikes/luck etc ..........to Pedophilia


(and no Lambie the answer is not "Bitcoin, or Bitcoiners")

[tabnloz]

All to easy for this to happen out there... having spent a lot of time in se asia, it is all too common... in my past I have spent a lot of time bombing around islands on bikes with no helmet, on occasion with a drink or two in me, often on gravel covered roads.. one slip....

R.I.P Adam Tepper  : (

(*misspent youth)

(** I am not  in anyway insinuating Adam Tepper was drinking)

It's always Thailand.

Yeah.... I have seen some god awful shit out there as it goes.

^You like popsickles? Then you need to come down to the cellar. Cause I got a freezer full of popsickles down in the cellar.

I couldn't believe it at first, but you guys seem to be right. Always assumed Bruce Wagner was the exception.

Disturbing.

huh?^^ what the fuck is that all about?

I think I was offering Chris Hansen a refreshing treat. What? Why?

Huh?

I think I am lost.

I just looked up this Chris Hansen (I do not watch television, but have heard of the show)  and Bruce Wagner..

Let me get this straight, in case I am confused....  are you guys saying if you spend time in south east asia you are a pedophile?

That cannot be what you are getting at? because that would be almost one of the stupidest things I have ever heard?



 

OMG! I just realized NLC would have a field day with this^

Good night and good luck.

A person dies and the conversation devolves into this.

[Norway]

Not M1. M2. Including long term savings accounts. I use my bitcoins as M2 today. Long term savings account. On a paper wallet  

Not M2. M1. Money on savings accounts are lended by banks to somebody and put to their current accounts. So, M2=M1+IOU. Bitcoin will replace real money, rather than IOUs.  So, to calculate (maximal) future value of bitcoins we should use M1 or MB, rather than M2.

My paper wallet perma hodl bitcoins are long term M2 savings. I think you maybe are mixing the definition of M2 with the issuance of currency, sir  

[12345mm]

"basic", motherfuckers. I'm not criticizing him for inability to use a sextant or know the  difference between a ketch and a yawl. These are basic terms.

But can yawl ketch a ball? 
M1 and M2 2U2 R2D2 MFs!

This thread is too much fun!

yeah i mean it's not like i don't know those terms ... but it's easier for people to understand things and easier to elucidate one's thoughts if stated in more universal terms anyhow so that's how most people type things out ... plus i'm lazy ... heck i can describe the difference between a sloop and a ketch and a cutter rigging if you'd really like me to ...

also .... MMM cooooookie ...

[YourMother]

well ... if this thing ever were to hit 1% of monetary that'd probably be due to a global currency devaluation tipping point and collapse of nations in the process (several nations) and likely not stop at only 1% ... so i'm not exactly rooting for that what with war and suffering and all ... besides which at less than 2% or 100,000 per that'd already make satoshi the single richest person on earth , surpassing gates by a few dozen billion ... somehow i think bringing us the operating system on which 80% of the world's computers function ought to be worth more than a piece of software run on it ... at 20% of monetary or 1M a coin he'd officially be a trillionaire and could buy a good chunk of a continent and turn it into a private panda hunting preserve ... one of the southern hemisphere ones anyway ... at 100% we're knowingly crowning a money god(s) and likely assuring tyranny for the foreseeable future of humanity / making jesus mad and ushering in the apocalypse ... i tend to not be optimistic when it comes to overlords ... i don't know about you all but i'm at least somewhat comforted by the fact that we've got like 2000 billionaires running this world ... better than 1 person holding the reigns single handed ... especially if nobody knows his face ... 5k per coin (or 0.1% of monetary) is wayyyy more than enough of a valuation and much more realistic and still gives a total value to all btc in existence in excess of 100B ...

as for nautical terms ... poop deck ...

Now you know why intelligent people are associating Bitcoin with Beanie Babies, World of Warcraft, Tulips and many others.

Satoshi created a decentralized currency that automatically centralizes the wealth into his hands at mass adoption. If you think about it, this invisible Japanese troll, owner of 1 million bitcoins (not taking in consideration the coins acquired without mining), is the best in the business at building pyramids. I gotta give it to him.  

[billyjoeallen]

Not M1. M2. Including long term savings accounts. I use my bitcoins as M2 today. Long term savings account. On a paper wallet  

Not M2. M1. Money on savings accounts are lended by banks to somebody and put to their current accounts. So, M2=M1+IOU. Bitcoin will replace real money, rather than IOUs.  So, to calculate (maximal) future value of bitcoins we should use M1 or MB, rather than M2.

I think that's right. We are going to see more and more off blockchain type transactions such as me using my CB account to buy something on overstock. This effectively increases the money supply. It doesn't even have to be fraudulent. There is nothing to prevent fractional reserve bitcoin banks if consumers want them.

EDIT: on the positive side, this means that the transaction limits really only need to apply to settlements.

[Chef Ramsay]

did not-lambo-chopsy commit suicide?

It has been hanging out in the security subforum part-time as the price has risen. Heard it got a pay cut under the circumstances, it is having trouble contributing to mom's electric bill. Hasn't been eating regular either.

[empowering]

did not-lambo-chopsy commit suicide?

It has been hanging out in the security subforum part-time as the price has risen. Heard it got a pay cut under the circumstances, it is having trouble contributing to mom's electric bill. Hasn't been eating regular either.

I do not think he has had a wash in a while either.

Filthy Bitcoiner.

[ChartBuddy]

Coin
Explanation

[Wary]

Not M1. M2. Including long term savings accounts. I use my bitcoins as M2 today. Long term savings account. On a paper wallet  

Not M2. M1. Money on savings accounts are lended by banks to somebody and put to their current accounts. So, M2=M1+IOU. Bitcoin will replace real money, rather than IOUs.  So, to calculate (maximal) future value of bitcoins we should use M1 or MB, rather than M2.

I think that's right. We are going to see more and more off blockchain type transactions such as me using my CB account to buy something on overstock. This effectively increases the money supply. It doesn't even have to be fraudulent. There is nothing to prevent fractional reserve bitcoin banks if consumers want them.

To sort this out, let's set definitions first. (You of course know most of the below, so can skip a paragraph or two ).

M0 are paper bills. They are real money in a sense that one dollar bill cannot be in two places simultaneously. There is no fractional reserve banking with M0. M1 is M0+current accounts. M1 are more-less real money too. The amount of real money is MB, but M1 is a good approximation of it.

The money that sits on saving accounts are not real money, because they exist in two or more places simultaneously. A dollar that sits on your saving account is at the same time lended to somebody else and sits on their current account too. So, money on your saving account are not real money, but just promises to get real money and put them on your current account. We can say that M2 = M1+IOU.

We can make similar definition for bitcoin. Bitcoin's M1 are bitcoins that exist only in one place - in blockchain. BTCM1. Currently there are about 13,000,000 of them.

As you've correctly pointed out, there are also promises of bitcoin, that sits off-chain. So we can define BTCM2 = BTCM1 +BTCIOU.

The whole discussion was what will bitcoin cost if it'll replace fiat?

The suggested formula was:  bitcoin price = M2/BTCM1

I disagree with this formula. IMO, correct formula should be:

either bitcoin price = M1/BTCM1.
or      bitcoin price = M2/BTCM2.

Problem with the second formula, however is that currently we have no idea how big BTCIOU are going to be.