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

[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.

[Fatman3001]

^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.

If you're having an off day, then have a day off.

Don't expect me to entertain you.

Edit: Elwar's here, you can bug him.

[Elwar]

Who suggested that obeying bad laws is the right thing to do?
If you don't agree with laws, break them.
I'm explaining the game mechanics, Wild One, not telling you that the game is good.

I follow all of my country's laws. Doing otherwise runs the risk of people in uniforms kidnapping me and putting me in a cage while everyone looks on with moral satisfaction.

[KaliLinux]

Are we still going up or should I short now?
What do the pros think?

[madmat]

Are we still going up or should I short now?
What do the pros think?

Stop trading, you are going to lose your money. You obviously don't know what you are doing.

[ChartBuddy]

Coin



Explanation

[QuestionAuthority]

[Elwar]

Who suggested that obeying bad laws is the right thing to do?
If you don't agree with laws, break them.
I'm explaining the game mechanics, Wild One, not telling you that the game is good.

I follow all of my country's laws. Doing otherwise runs the risk of people in uniforms kidnapping me and putting me in a cage while everyone looks on with moral satisfaction.

OK, so you're morally weak, and unwilling to take risks to fight injustice.
What's your point? Want I should make you a balloon animal?

There are ways of avoiding morally offensive laws without breaking the law.

Bitcoin happens to be part of one such solution.

[ssmc2]

Chicken entrails and tea leaves say UP

[billyjoeallen]

Are we still going up or should I short now?
What do the pros think?

I'm not a pro and this advice is worth what you pay for it, but technicals look really good and fundamentals look really bad. TERA makes piles of money trading ponzi schemes and I believe she is still bullish, so if you're looking to trade, buy. If you're looking to invest, hold off until the scaling problem is solved.

[billyjoeallen]

You say that like it's a bad thing. I do think anarcho-capitalism is poorly named. Distributed governance would be a better descriptor.  Libertarianism is anarchy for smart people.

[Elwar]

Well no. Bitcoin, like Communism and Christianity and a whole bunch of other shit, had interesting potential. Potential that got corrupted and perverted at first exposure to reality.

Look at the most visible uses of Bitcoin, judging by this forum:

Scamming people.
Gambling ponzis gambling ponzis gambling.
Harebrained schemes that turn out to be scams/ponzis.
Edit: Banning people with unpopular opinions.

You still want that balloon animal?

Something else that can be corrupted and perverted is a little thing called freedom.

Some people just can't deal with that.

So then comes the whining.

[Divitiae miserae]

TERA makes piles of money trading ponzi schemes

How long does one have to be preoccupied with trading on a daily basis to earn, let's say, twenty grand a year? What would the required initial capital be?

[billyjoeallen]

You say that like it's a bad thing. I do think anarcho-capitalism is poorly named. Distributed governance would be a better descriptor.  Libertarianism is anarchy for smart people.

No. Today's Libertarianism is a tool, used by rich people to trick the dumb poor (whose greatest dream is to be rich) into thinking that what's good for the rich is good for them.

We have a different understanding of economics. What's good for the rich is centralized government that can be bought much easier than providing value in the marketplace. The State is just an engine for concentrating benefits and distributing costs. 

Common people think concentrated power is great, if only the right people are in charge. The problem is that the system is designed so that the right people never get in charge.  You can't wear the One Ring for any length of time and keep your soul. You have to throw that bitch into the fires of Mount Doom.

[billyjoeallen]

TERA makes piles of money trading ponzi schemes

How long does one have to be preoccupied with trading on a daily basis to earn, let's say, twenty grands a year? What would the required initial capital be?

If you are good enough, you could do it with a thousand bucks. If you suck, you could turn a million bucks into twenty grand in a year.

[Divitiae miserae]

If you are good enough, you could do it with a thousand bucks. If you suck, you could turn a million bucks into twenty grand in a year.

I guess we won't get statistical information... not that Homo statisticus' (Bitcoin) average trader exists, but it's indicative. Anecdotal (but actual) evidence is welcome too.