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

[Divitiae miserae]

Bitcoin is in stall mode?

It was stalling in Bitfinex so the stall-recovery procedures were implemented and now it's slowly regaining altitude thanks also to the Chinese who cleave the air.

[Tzupy]

IBM, Linux foundation and big banks launch Open Ledger Project:
http://www.coindesk.com/ibm-launches-open-source-blockchain-project-backed-by-linux-and-big-banks/
I wonder if the Chinese care about this, if they do they should dump hard.

[ImI]

so stable, so strong, so willgothrough500

[Fatman3001]

Just buy some bitcoins and move out of that shithole when we've reached the moon.

Now that's a whole other can of worms mate. Cant move.

I have a bunch of suggestions, but I'm pretty sure they're all illegal.

Should we take this conversation to Tor and start a dog shipping to north Korea revolution?

Why waste them sending them to Korea?

Dogs are great with a little kimchi over a bed of rice. Bbq dog knot is a delicacy.

Let the North Koreans eat some dick. I don't think that's much to ask for.

IBM, Linux foundation and big banks launch Open Ledger Project:
http://www.coindesk.com/ibm-launches-open-source-blockchain-project-backed-by-linux-and-big-banks/
I wonder if the Chinese care about this, if they do they should dump hard.

Isn't it still a closed centralized system?

[WhalingWhales]

Just buy some bitcoins and move out of that shithole when we've reached the moon.

Now that's a whole other can of worms mate. Cant move.

I have a bunch of suggestions, but I'm pretty sure they're all illegal.

Should we take this conversation to Tor and start a dog shipping to north Korea revolution?

Why waste them sending them to Korea?

Dogs are great with a little kimchi over a bed of rice. Bbq dog knot is a delicacy.

Let the North Koreans eat some dick. I don't think that's much to ask for.

IBM, Linux foundation and big banks launch Open Ledger Project:
http://www.coindesk.com/ibm-launches-open-source-blockchain-project-backed-by-linux-and-big-banks/
I wonder if the Chinese care about this, if they do they should dump hard.

Isn't it still a closed centralized system?

It will be and it wont be able to transfer wealth on the scale that bitcoin will be doing. It may work in between a few companies  but not for sending money around the world like we do with bitcoin today.

[Fatman3001]

Just buy some bitcoins and move out of that shithole when we've reached the moon.

Now that's a whole other can of worms mate. Cant move.

I have a bunch of suggestions, but I'm pretty sure they're all illegal.

Should we take this conversation to Tor and start a dog shipping to north Korea revolution?

Why waste them sending them to Korea?

Dogs are great with a little kimchi over a bed of rice. Bbq dog knot is a delicacy.

Let the North Koreans eat some dick. I don't think that's much to ask for.

IBM, Linux foundation and big banks launch Open Ledger Project:
http://www.coindesk.com/ibm-launches-open-source-blockchain-project-backed-by-linux-and-big-banks/
I wonder if the Chinese care about this, if they do they should dump hard.

Isn't it still a closed centralized system?

It will be and it wont be able to transfer wealth on the scale that bitcoin will be doing. It may work in between a few companies  but not for sending money around the world like we do with bitcoin today.

That seems to be the issue with all of these closed systems. Not to mention, I wouldn't want to have my IoT devices depend on the interests or profitability of a company like IBM, Intel or JP Morgan.

[rebuilder]

IBM, Linux foundation and big banks launch Open Ledger Project:
http://www.coindesk.com/ibm-launches-open-source-blockchain-project-backed-by-linux-and-big-banks/
I wonder if the Chinese care about this, if they do they should dump hard.

Isn't it still a closed centralized system?

Is it just me, or is the idea of a proprietary blockchain silly? If validation is done by only a few, or just one, party, why not just have a database?

[kromtar]

IBM, Linux foundation and big banks launch Open Ledger Project:
http://www.coindesk.com/ibm-launches-open-source-blockchain-project-backed-by-linux-and-big-banks/
I wonder if the Chinese care about this, if they do they should dump hard.

There is already a true decentralize proyect called https://openledger.info/

These dinosaurs have no clue of whats going on, they all will vanish like the rome empire and the new system will be just decentralize everything, and bitcoin will be the core. 

[ChartBuddy]

Coin



Explanation

[Fatman3001]

IBM, Linux foundation and big banks launch Open Ledger Project:
http://www.coindesk.com/ibm-launches-open-source-blockchain-project-backed-by-linux-and-big-banks/
I wonder if the Chinese care about this, if they do they should dump hard.

Isn't it still a closed centralized system?

Is it just me, or is the idea of a proprietary blockchain silly? If validation is done by only a few, or just one, party, why not just have a database?

I'm guessing they want all the good stuff without all the bad stuff.

But the thing is you can have all the good stuff without all the bad stuff on the Bitcoin blockchain. You don't have to buy drugs or finance terrorism with your coins. If you buy coins from a regulated exchange and sell them at a regulated exchange, and don't screw up in between, you're good.

An american diplomat who was talking about US/EU relations was quoted quoting Lenin: "Trust is good, control is better".

Corporations are creatures of habit.

[Fatman3001]

Lambie seems more retarded than usual. Are they working shifts?

[LMGTFY]

Lambie seems more retarded than usual. Are they working shifts?

Yrpapers? Dunno, I've started putting any new posters here on ignore - I feel guilty about the false positives, but not that guilty. There's been a couple of times I've been drawn into a conversation and half way through had my ovine suspicions confirmed and ended up sticking the wee lamb's latest alt on ignore.

[rebuilder]

Lambie is actually on the ball here. Bitcoin's best use case is illicit transactions. It's a tool to reduce the power states have over their subjects. The overhead involved only makes sense if  you can't rely on a central power to keep people in line.

IOW, if you're fine with how the political process works in your jurisdiction, and see no need to curtail the economic powers of the state, I don't see what good Bitcoin is to you apart from speculating on the price. I doubt it's actually more efficient than VISA all things considered, for example.

[LMGTFY]

Lambie is actually on the ball here. Bitcoin's best use case is illicit transactions. It's a tool to reduce the power states have over their subjects. The overhead involved only makes sense if  you can't rely on a central power to keep people in line.

IOW, if you're fine with how the political process works in your jurisdiction, and see no need to curtail the economic powers of the state, I don't see what good Bitcoin is to you apart from speculating on the price. I doubt it's actually more efficient than VISA all things considered, for example.

(Disclaimer: not read Yrpaper's contributions, so apologies if this has been covered)

I agree up to a point - evading capital controls, sure (step forward, China). When it comes to Lambie and illegal transactions, the wee soul has an obsession with drugs and kiddie porn. At least with drugs, cash is king in my city - people wouldn't risk drugs being posted to them and tend to scorn Silk Road and similar. And they'd point out you can't roll up 20 BTC to hoover a mirror, waiting for a BTC transaction is frustrating in a crowded, dark nightclub, etc.

Maybe kiddie porn is different, I dunno. The folk who get caught seem to get caught through their use of the Internet, so maybe. The British paedophile Jimmy Saville apparently never owned a computer because he thought people might see through his mask, but he's possibly the exception.

[Fatman3001]

Lambie is actually on the ball here. Bitcoin's best use case is illicit transactions. It's a tool to reduce the power states have over their subjects. The overhead involved only makes sense if  you can't rely on a central power to keep people in line.

IOW, if you're fine with how the political process works in your jurisdiction, and see no need to curtail the economic powers of the state, I don't see what good Bitcoin is to you apart from speculating on the price. I doubt it's actually more efficient than VISA all things considered, for example.

It's good for all the things IBM, Intel, etc are trying to do with their closed ledger (especially if they add ethereum to the mix).

Besides, trades don't have to be illicit in order to reduce the power of the states.

... You don't have to buy drugs or finance terrorism with your coins. If you buy coins from a regulated exchange and sell them at a regulated exchange, and don't screw up in between, you're good. ...

Like saying "you don't have to counterfeit these hundred-dollar bills I drew with a box of crayons."
The point is, if [bad] people can transact outside of (vetted) exchanges, they will.
If there's no need to transact outside of (vetted) exchanges, there's no reason to burn so much electricity in Chinese chicken coops to keep a ridiculous POW scheme running.  

So what?

IBM and JP Morgan won't be held accountable for what other bad people do with Bitcoin, just like they won't be held accountable for when LMGTFY is snorting flour he bought with USD from a mirror.

But they will be held accountable for every little thing that happens on that closed ledger.

[ChartBuddy]

Coin



Explanation

[Divitiae miserae]

It seems like it wants to tumble again.

[Fatman3001]

... You don't have to buy drugs or finance terrorism with your coins. If you buy coins from a regulated exchange and sell them at a regulated exchange, and don't screw up in between, you're good. ...

Like saying "you don't have to counterfeit these hundred-dollar bills I drew with a box of crayons."
The point is, if [bad] people can transact outside of (vetted) exchanges, they will.
If there's no need to transact outside of (vetted) exchanges, there's no reason to burn so much electricity in Chinese chicken coops to keep a ridiculous POW scheme running.  

So what?

IBM and JP Morgan won't be held accountable for what other bad people do with Bitcoin, just like they won't be held accountable for when LMGTFY is snorting flour he bought with USD from a mirror.

But they will be held accountable for every little thing that happens on that closed ledger.

No, IBM and JP Morgan won't be held accountable for what other bad people do with Bitcoin.
No, IBM and JP Morgan won't be held accountable for LGBT snorting bunk blow bought with USD.
The also won't be held accountable for every little thing that happens on their closed ledger, just like banks aren't held accountable for LGBT buying shit blow with USD.

What they *would* be held accountable for is the same shit IRL banks are held accountable for. KYC/AML, and all the rest.
Get it?

I get it. But I don't think you do.

[peonminer]

Last time we had sidewayz like this, shortz got rekt all teh way to $475

[Elwar]

... You don't have to buy drugs or finance terrorism with your coins. If you buy coins from a regulated exchange and sell them at a regulated exchange, and don't screw up in between, you're good. ...

Like saying "you don't have to counterfeit these hundred-dollar bills I drew with a box of crayons."
The point is, if [bad] people can transact outside of (vetted) exchanges, they will.
If there's no need to transact outside of (vetted) exchanges, there's no reason to burn so much electricity in Chinese chicken coops to keep a ridiculous POW scheme running.  

So what?

IBM and JP Morgan won't be held accountable for what other bad people do with Bitcoin, just like they won't be held accountable for when LMGTFY is snorting flour he bought with USD from a mirror.

But they will be held accountable for every little thing that happens on that closed ledger.

No, IBM and JP Morgan won't be held accountable for what other bad people do with Bitcoin.
No, IBM and JP Morgan won't be held accountable for LGBT snorting bunk blow bought with USD.
The also won't be held accountable for every little thing that happens on their closed ledger, just like banks aren't held accountable for LGBT buying shit blow with USD.

What they *would* be held accountable for is the same shit IRL banks are held accountable for. KYC/AML, and all the rest.
Get it?

I get it. But I don't think you do.

^Typical. You don't want *anything at all* to interfere with your intrinsically inconsistent constructs ideology. Faced with shit you can't refute with logic, your knee-jerk coping mechanism is "Baww, mom and dad just don't understand my blockchain technology! It's like they don't even care how I feel "

And then you wonder people call you cultists.

The jews in Germany during WWII were right to follow their country's rules. Anyone who did not obey and tried to flee the country or use their money for illegal activities such as paying to be smuggled out of the country were bad people. And anyone involved in these crimes should be held accountable.