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

[ChartBuddy]

Coin
Explanation

[12345mm]

what i wonder is whether this is actually a good thing ... i think it is - if all exchanges pay attention to high level thefts / scams AND track the stolen coins from the point of origin AND every single exchange takes action to confiscate illegally obtained coins pending legal system justice / assists law enforcement in tracking down and punishing these criminals ... then no more bitcoin theft crime ? right ? ... it'd basically fall to the dozen or so major exchanges to monitor and enforce legal activity ... if nobody anywhere accepts *obviously* stolen coins on any exchange then large scale theft would not be possible ? (without adequate mixing / obfuscation of origin / slowly spending of stolen coins for goods) ... personally i'd love no exchange anywhere in the world being willing to accept stolen bitcoin ...

[lightfoot]

One thing to remember about technology and the btc network is that it will adapt to deal with intolerable actions. Such as a distributed exchange.

Indeed. *dusts off Fortran compiler*

[Cconvert2G36]

So at what point does the (insert govt name here) Govt come to the exchanges and demand all of these "dirty" coins. After all they were part of unlawful activity, therefore they all go to the Govt. Kind of like cash forfeitures.

This is an interesting little slope here......

One thing to remember about technology and the btc network is that it will adapt to deal with intolerable actions. Such as a distributed exchange.

And how does this distributed exchange deal with fiat transfers to not so distributed bank accounts? A sort of localbitcoins with a distributed back end?

Bitcoin was designed to be able to transfer bitcoin globally without controls, not to be able to cash fiat in and out at both ends without control.

[lightfoot]

The problem of course is what is a "crime". Not paying taxes is a crime. Farting in a Mormon tabernacle is a crime. Supporting F.G. in china is a crime. Gambling is a crime in many places...

How about things that are deemed "unpopular"? Intentions are always good, executions not always so.

Back to watching bitcoin bounce around.

[Sitarow]

So at what point does the (insert govt name here) Govt come to the exchanges and demand all of these "dirty" coins. After all they were part of unlawful activity, therefore they all go to the Govt. Kind of like cash forfeitures.

This is an interesting little slope here......

One thing to remember about technology and the btc network is that it will adapt to deal with intolerable actions. Such as a distributed exchange.

And how does this distributed exchange deal with fiat transfers to not so distributed bank accounts? A sort of localbitcoins with a distributed back end?

Bitcoin was designed to be able to transfer bitcoin globally without controls, not to be able to cash fiat in and out at both ends without control.

That is one goal. The  road to attain such goal will  be met with unknown challenges and events.

[coinableS]

what i wonder is whether this is actually a good thing ... i think it is - if all exchanges pay attention to high level thefts / scams AND track the stolen coins from the point of origin AND every single exchange takes action to confiscate illegally obtained coins pending legal system justice / assists law enforcement in tracking down and punishing these criminals ... then no more bitcoin theft crime ? right ? ... it'd basically fall to the dozen or so major exchanges to monitor and enforce legal activity ... if nobody anywhere accepts *obviously* stolen coins on any exchange then large scale theft would not be possible ? (without adequate mixing / obfuscation of origin / slowly spending of stolen coins for goods) ... personally i'd love no exchange anywhere in the world being willing to accept stolen bitcoin ...

Do we want them making the decision as to what qualifies as a crime? There have been numerous reports about Coinbase tracking for people that gamble. Do you think that is okay? I think it's a slippery slope. Bitcoin should be mathematical and unbiased. If you have the private key that's all that should be required.

[ChartBuddy]

Coin
Explanation

[12345mm]

what i wonder is whether this is actually a good thing ... i think it is - if all exchanges pay attention to high level thefts / scams AND track the stolen coins from the point of origin AND every single exchange takes action to confiscate illegally obtained coins pending legal system justice / assists law enforcement in tracking down and punishing these criminals ... then no more bitcoin theft crime ? right ? ... it'd basically fall to the dozen or so major exchanges to monitor and enforce legal activity ... if nobody anywhere accepts *obviously* stolen coins on any exchange then large scale theft would not be possible ? (without adequate mixing / obfuscation of origin / slowly spending of stolen coins for goods) ... personally i'd love no exchange anywhere in the world being willing to accept stolen bitcoin ...

Do we want them making the decision as to what qualifies as a crime? There have been numerous reports about Coinbase tracking for people that gamble. Do you think that is okay? I think it's a slippery slope. Bitcoin should be mathematical and unbiased. If you have the private key that's all that should be required.

theft is a crime in every country on earth ... i'd say that's pretty clear cut as to what constitutes crime when we're talking about currency ... therefore if something is illegal on all of planet earth , no i don't mind bitcoin exchanges acting to support the laws of all of earth's countries and societies ... gambling is , though outlawed in some minority of countries , an activity that both parties winners and losers engage in willingly ... theft , by definition , is not agreed to or wanted by those being stolen from ... even though the people on the evolution market engaged in illegal drug sales and illegal weapon sales etc and so they were operating outside of "the law" both parties on either side of those transactions were willingly engaged in those trades ... they didn't agree to be stolen from (though it is arguable if trusting the untrustworthy with $ constitutes consent to theft) ... i'd argue that as a very extremely extremely loose definition of "freedom" and "right" and "lawful" is that people can willingly engage in any activity they choose , but that if harm is done to them physically or financially against their direct consent , that is wrong and should be prevented via legal and financial mechanisms ...

[Wary]

Bear flag?

(6h bitstamp)

[YourMother]

Bored to death.





Is crypto done ?  

[Cconvert2G36]

[ChartBuddy]

Coin
Explanation

[12345mm]

hmmmm ... yes ... 10 minute blocks of time going by on finex , apparently the preferred exchange nowadays , without a single buy or sell occurring ... sorry folks that's not what a healthy "global currency market" looks like ... hell it's not what any healthy traded finance market looks like ... meanwhile the novelty idea of "bitcoin is the future of money" has worn off for most people as they come to realize it's actually nothing more than a poorly-branded experimental decentralized floating value ledger system backed up by a little computer processing power , which was severely abused by mtgox in a massive ponzi scheme from the very beginning of bitcoin up until other exchanges existed , roughly 6 out of the total of 7 years of bitcoin's existence being completely fraudulently manipulated in terms of price ... leaves us with a "leftover" price resultant from their fraudulent actions , a pseudo-merchant acceptance process whereby 99% of merchants accept that you can sell your bitcoins at exchange value and pay them in real fiat for their goods via payment processors , and a massive slapped together mining infrastructure built to chase the false price but now faced with the reality of not being able to pay their power bills without $1000 bitcoin ... fucked would be a generous assessment ...

[inca]

Bear flag?

(6h bitstamp)

Zoom out.

[Cconvert2G36]

[inca]

Bear flag?

(6h bitstamp)

Zoom out.

Nice call.

[Cconvert2G36]

Good selling so far. 3k to new lows, or 3k to 272 on finex.

[tabnloz]

Bear flag?

(6h bitstamp)

i remember this game....

[SkyValeey]

Below 1500cny next 24h? 

That's the real question.