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

[Cconvert2G36]

Anybody worried about this yet?



Thanks flat earth 1MB maxblocksize aficionados!

Nah...

A Peer-to-Peer Electronic Cash System*

*A limit of less than three transactions per second occurring on planet earth may apply.

[shmadz]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

they have an ingenious idea how to fix the 'interest to infinity' debt slavery system that is broken atm .. they are going to print up some more euros and extend an emergency loan to greece but they have to promise to pay it back this time for real.. scouts honor. and then they plan to release a new fiat reserve currency which will be superior to all the rest since this new fiat reserve currency will not have cash. that will stop the bank runs once and for all. they don't need a blockchain. that would hamper their ability to steal (corruption) and to add more 1's and 0's to make more money on the fly.  -5% interest rate to keep your money in the bank (like u got a choice in a cashless system). they can stretch that 'interest to infinity' debt slavery system out for at least another ten years.

Very astute. The money doesn't matter. The amount they owe, it's flexible... they can negotiate.

What is most important is that they continue to owe, and they continue to pay.

It's not about dollars, or Euro, or Drachma. It's about power and control. It always is.

[shmadz]

Anybody worried about this yet?



Thanks flat earth 1MB maxblocksize aficionados!

Nah...

A Peer-to-Peer Electronic Cash System*

*A limit of less than three transactions per second occurring on planet earth may apply.

Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.

 It's about monetary freedom.

If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.

There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.

[brg444]

Anybody worried about this yet?



Thanks flat earth 1MB maxblocksize aficionados!

Nah...

A Peer-to-Peer Electronic Cash System*

*A limit of less than three transactions per second occurring on planet earth may apply.

Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.

 It's about monetary freedom.

If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.

There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.

amen

[marcus_of_augustus]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

they have an ingenious idea how to fix the 'interest to infinity' debt slavery system that is broken atm .. they are going to print up some more euros and extend an emergency loan to greece but they have to promise to pay it back this time for real.. scouts honor. and then they plan to release a new fiat reserve currency which will be superior to all the rest since this new fiat reserve currency will not have cash. that will stop the bank runs once and for all. they don't need a blockchain. that would hamper their ability to steal (corruption) and to add more 1's and 0's to make more money on the fly.  -5% interest rate to keep your money in the bank (like u got a choice in a cashless system). they can stretch that 'interest to infinity' debt slavery system out for at least another ten years.

Very astute. The money doesn't matter. The amount they owe it's flexible... they can negotiate.

What is most important is that they continue to owe, and they continue to pay.

It's not about dollars, or Euro, or Drachma. It's about power and control. It always is.

just like mafia ... it's all about the juice.

Don't let them get anything on ya, debt or otherwise and you'll stand a fighting chance.

It's why land/property taxes are so disgustingly immoral, there is no way to be independent and opt out.

[KFR]

...

...

...

Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.

 It's about monetary freedom.

If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.

There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.

A fine case well argued. 

[rolling]

Anybody worried about this yet?



Thanks flat earth 1MB maxblocksize aficionados!

Nah...

A Peer-to-Peer Electronic Cash System*

*A limit of less than three transactions per second occurring on planet earth may apply.

Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.

 It's about monetary freedom.

If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.

There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.

Can someone please explain this to Gavin and the other "Scientists"?

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

Anybody worried about this yet?



Thanks flat earth 1MB maxblocksize aficionados!

Nah...

A Peer-to-Peer Electronic Cash System*

*A limit of less than three transactions per second occurring on planet earth may apply.

Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.

 It's about monetary freedom.

If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.

There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.

Can someone please explain this to Gavin and the other "Scientists"?

I have a sense that Gavin and some of the other like minded scientist are attempting to discuss bitcoin by use of less disruptive terms in order that BTC seems less threatening to the status quo.

[Sitarow]

[rolling]

Anybody worried about this yet?



Thanks flat earth 1MB maxblocksize aficionados!

Nah...

A Peer-to-Peer Electronic Cash System*

*A limit of less than three transactions per second occurring on planet earth may apply.

Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.

 It's about monetary freedom.

If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.

There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.

Can someone please explain this to Gavin and the other "Scientists"?

I have a sense that Gavin and some of the other like minded scientist are attempting to discuss bitcoin by use of less disruptive terms in order that BTC seems less threatening to the status quo.

Not the monetary freedom part but they have to realize that every cup of coffee and micro transaction on the planet can't possibly and shouldn't be kept in the blockchain.

[cyclotronmajesty]

precipitous dump

[bassclef]

precipitous dump

Or a low volume dump. Of course you'll get a pullback after a big price rise, every time. There's overarching supply to be worked out of the market because of profit taking. Once it's all absorbed, whoosh back up we go. Look at the volume compared to similar moves to the left and it will give you an idea of how much gasoline is behind it.

[cyclotronmajesty]

So if Greece makes a deal with the EU is that good or bad for bitcoin?

A meeting is supposed to take place today in Greece on that topic.

I guess it's somewhat irrelevant. It only matters if the Greeks want bitcoin.
But the Euro declining does help people buy bitcoin. And Greece exiting the EU would help the Euro decline.

[bassclef]

So if Greece makes a deal with the EU is that good or bad for bitcoin?

It doesn't matter too much although I'm sure some would sell expecting a drop. The price was ready to move up before the Greek drama, but the drama acted as a trigger for everyone who was out to jump back in and for whales to pump the price by taking bigger positions. It would have happened eventually. But the price is not directly being pumped by the Greeks, that is for sure. They are a very small percentage of the buyers.

The long term trend for Bitcoin is up regardless of the drama in the world.

[aztecminer]

precipitous dump

with china out the way is easier to smash down .. probably not 284, more likely 250 - 255 tomorrow morning . i'm HODL through the smash again .

[Cconvert2G36]

Anybody worried about this yet?



Thanks flat earth 1MB maxblocksize aficionados!

Nah...

A Peer-to-Peer Electronic Cash System*

*A limit of less than three transactions per second occurring on planet earth may apply.

Bitcoin is not here to compete with visa. It's not here to make banking better, it's not about buying coffee or micro payments or any of that crap. It's not about mass adoption.

 It's about monetary freedom.

If three transactions per second is not enough, then there will grow an ecosystem of alt coins to pick up the slack. We will see exchanges grow that allow for easy transfer of value from one coin to the next and through this multi-coin environment, we can scale without limit.

There is no solution for one chain to hold all the transactions. Any proposal that suggests compromising the security, integrity, or distributed nature of bitcoin in order to gain some kind of imaginary "adoption" is an attack and should be treated as such.

Can someone please explain this to Gavin and the other "Scientists"?

I have a sense that Gavin and some of the other like minded scientist are attempting to discuss bitcoin by use of less disruptive terms in order that BTC seems less threatening to the status quo.

Not the monetary freedom part but they have to realize that every cup of coffee and micro transaction on the planet can't possibly and shouldn't be kept in the blockchain.

As far as I can tell, no one pays for coffee with bitcoin, and micro transactions are comparatively rare. And yet, here we are with full blocks, and very minimal global adoption.

Consensus from the enlightened seems to be: Buy alts, short btc. (Or wait for our magic sidechain to solve it for you.)

[Chef Ramsay]

precipitous dump

Or a low volume dump. Of course you'll get a pullback after a big price rise, every time. There's overarching supply to be worked out of the market because of profit taking. Once it's all absorbed, whoosh back up we go. Look at the volume compared to similar moves to the left and it will give you an idea of how much gasoline is behind it.

bc, your commentary I find is the most impressive and worthwhile content on this entire forum. Keep it up and wish we could get more of it. You're either really smart or really cool by default.

[macsga]

So if Greece makes a deal with the EU is that good or bad for bitcoin?

A meeting is supposed to take place today in Greece on that topic.

IMHO, Greece & EU deal has a very small impact to BTC's price. The fact is that so many other things, are now ready to fall apart and they are much - MUCH bigger. Greece used to be the decoy that hid the main flaw of the ecosystem. Now that we're in front of a solution (whatever that might be), chances are we will have to face the music on a global scale. And NO, I don't think that "print more" will work this time...  

[brg444]

precipitous dump

with china out the way is easier to smash down .. probably not 284, more likely 250 - 255 tomorrow morning . i'm HODL through the smash again .

What did I miss about China ?