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

[Andre#]

This makes everything clear.

"Permanently keeping the 1MB (anti-spam) restriction is a great idea ..."
https://bitcointalk.org/index.php?topic=946236.0

[ElGabo]

This Gavin guy is worse for Btc than a 51% attack....

[schizoid]

I'm just pointing out that even with not so many transactions, you don't simply "die" - and evidence of that is the marketcap and mobility of gold, because bitcoin is not simply a payment system, but also a store-of-wealth system.

Gold is a store of wealth because it's a metal with very useful properties. If it were cheap everything made out of copper would be made out of gold instead, but there isn't enough gold to do all that, so it can never be cheap.

Bitcoin is only a store of wealth as long as it's the coin everyone uses. Intrinsically it's no better than the hundreds of other coins out there. If you cap it, it will no longer be the coin everyone uses, because caps by their very nature exclude people. So its value will fall, and whatever altcoin people start using instead will become the new dominant coin.

AlexGR is correct that bitcoin cannot scale to cover the entire global population, but it can scale much bigger than it is now, and if it does not, some other coin will.

[Bagatell]

AlexGR is correct that bitcoin cannot scale to cover the entire global population, but it can scale much bigger than it is now, and if it does not, some other coin will.

Where's the upvote button?

[ChartBuddy]

Coin
Explanation

[Andre#]

Gold is a store of wealth because it's a metal with very useful properties. If it were cheap everything made out of copper would be made out of gold instead, but there isn't enough gold to do all that, so it can never be cheap.

Copper is a better conductor than gold, and it's lighter. Gold doesn't corrode. So only if you're concerned about corrosion, you'd go for gold. In all other cases, you go for copper. Hence, you'd expect gold to be cheaper than copper if both are equally abundant and gold isn't used as store of value.

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

This makes everything clear.

"Permanently keeping the 1MB (anti-spam) restriction is a great idea ..."
https://bitcointalk.org/index.php?topic=946236.0

this is excellent.

What many don't seem to grok is that the BIP process effectively guarantees the 1 MB hard limit because any small group of core devs or even a single coder gets basically veto power over any improvements he doesn't like as much as his own. Stalemate. It's like the council of Captains in Pirates of the Caribbean voting for themselves as Pirate King.  Then Jack Hearn Sparrow plays kingmaker by voting for Elizabeth Gavin Swan. Or vice versa. This metaphor is getting convoluted.

BitcoinXT is the best tool we have to break the gridlock. Even if it never comes close to achieving supermajority, if it lights a fire under the core dev's collective ass to come up with a viable alternative that scales, then that would be even better.

A bitcoin that is no longer directly accessible to the end user is no longer Bitcoin. Something else will replace it. Network effects didn't save Myspace.

Scale or die.

[Fatov]

where are the finex walls?

[schizoid]

Copper is a better conductor than gold, and it's lighter. Gold doesn't corrode. So only if you're concerned about corrosion, you'd go for gold. In all other cases, you go for copper. Hence, you'd expect gold to be cheaper than copper if both are equally abundant and gold isn't used as store of value.

I've been told by a metallurgist that for wire gold plated copper is best, but for things like pipes where you care about corrosion gold rules. Now compare the weight of the average pipe to the average wire and tell me again why gold should be cheaper.

You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.

[ghandi]

where are the finex walls?

They got eaten. Completely.

[gentlemand]

You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.

If you could purchase a certified heap of Taylor Swift's dung along with a video of her producing it I think you'd probably do rather well in the long run.

[Fatov]

where are the finex walls?

They got eaten. Completely.

Thanks!!
I cant go on vacation, go mess!

[schizoid]

You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.

If you could purchase a certified heap of Taylor Swift's dung along with a video of her producing it I think you'd probably do rather well in the long run.

I'd sell it now. In the long run people will be saying "Taylor who?"

[schizoid]

You cannot use something as a store of value if it is not in fact valuable. If you could I would use my poo as a store of value and be a rich man.

How good is Bitcoin at conducting electricity?  Or is it great for making pipes?

No, but you can use it to buy drugs on the internet or place ads on Backpage.

[gentlemand]

I'd sell it now. In the long run people will be saying "Taylor who?"

You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.

[schizoid]

I'd sell it now. In the long run people will be saying "Taylor who?"

You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.

You're probably right. I suck at market timing.

[Fatman3001]

I'd sell it now. In the long run people will be saying "Taylor who?"

You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.

What is it with you and poo? You're one of those guys who's actually fapping to "Two Girls, One Cup".

[gentlemand]

You're probably right. I suck at market timing.

I think it's 'peak turd' for at least another 5-10 years. Then she'll start to dabble in scientology, go fat and mad and move to a shack in the wilderness. Her 2039 comeback will be a sensation as she performs remotely from a forest clearing and she'll tragically be eaten by a bear in front of billions of viewers. Then you really make bank.

 

What is it with you and poo? You're one of those guys who's actually fapping to "Two Girls, One Cup".

Maybe. PM me if you have any 'special' offers.

[schizoid]

I'd sell it now. In the long run people will be saying "Taylor who?"

You have a point, but I think it's worth keeping in pride of place in a glass cabinet for a few years yet.

Taylor Swift poop is a scarce commodity.
Pooping at max capacity, there is only so much poop Taylor can create in her lifetime.  If every person on earth wanted to own *just one* mason jar of Taylor's poop, there wouldn't be enough to go around.
Supply and demand, Econ. 101, you figure it out.
CCMF!

PPMF!