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

[Ibian]

We better get our fucking shit together and make this shit fucking work. The scaling issue MUST be solved, one way or another. Core needs to get on board or they need to get kicked the FUCK out.

There is no scaling issue. Bitcoin is working fine and everything is great.

...why... do i not believe you? (quoting Batty from ferm gully, voiced by Robin Williams.)

seriously though - i've been out of the loop for months. has the scaling stuff, bitcoin core v. classic, etc etc, seriously not been solved? Christ in heaven guys.

You saying Jesus has bitcoins?

[arklan]

We better get our fucking shit together and make this shit fucking work. The scaling issue MUST be solved, one way or another. Core needs to get on board or they need to get kicked the FUCK out.

There is no scaling issue. Bitcoin is working fine and everything is great.

...why... do i not believe you? (quoting Batty from ferm gully, voiced by Robin Williams.)

seriously though - i've been out of the loop for months. has the scaling stuff, bitcoin core v. classic, etc etc, seriously not been solved? Christ in heaven guys.

You saying Jesus has bitcoins?

that would require i believe he exists.

[jbreher]

I bet he dumps it all out of spite

Good. It would be one less thing the naysayers could constantly whine about. It can only affect the market once, and that's it.

Indeed. It would likely be on the scale of the drop of the last 2 days. Then done. And then honeybadger resumes its inexorable climb.

That said, no fucking way is that dude satoshi.

He was babbling incoherent stuff trying to sound smart on a panel where Nick Szabo is looking at him like, "WTF?"

While true, that's hardly probative.

[HI-TEC99]

It's showmen (exchanges) preying on the rubes (traders).

How does it work

 

Same as casinos. Get the punters gambling against each other while raking in the vigorish (exchange fees). The higher the stakes, higher the fees.

With unregulated Bitcoin exchanges, they can manipulate the prices enough to trigger the big payoff, margin calls.

It's bad enough to have a zero on the roulette wheel (and a double-zero in some places) but it's the hidden button that really hurts.

Margin trading isn't investing. It's gambling.

Dummied down it's gambling with borrowed money.

[practicaldreamer]

What if its not being borrowed. What if I (or we) can put in $500mil - and this shot in the arm brings in another $20mil new money on the back of it. The $500mil is then liquidated - taking with it (lets say) $10 mil of the money that was put in extra on the crest of the wave.

$10mil in a week isn't bad going - even for someone with $500mil in the bank.

I think maybe that this is how this market is going - purely because the market cap is low.

Follow the log.

[JimboToronto]

Margin trading isn't investing. It's gambling.

Dummied down it's gambling with borrowed money.

Indeed. Never invest nor gamble more than you can afford to lose. Borrowing to gamble is just crazy.

A friend who lives near a casino told me about the shocking number of non-publicized suicides that occur regularly in the casino parking lot.

Seems most of them were suckers who lost their shirts, borrowed more from the casino (including mortgaging their homes) and then lost that.

"Honey, I gambled away the house."

[Ibian]

Margin trading isn't investing. It's gambling.

Dummied down it's gambling with borrowed money.

Indeed. Never invest nor gamble more than you can afford to lose. Borrowing to gamble is just crazy.

A friend who lives near a casino told me about the shocking number of non-publicized suicides that occur regularly in the casino parking lot.

Seems most of them were suckers who lost their shirts, borrowed more from the casino (including mortgaging their homes) and then lost that.

"Honey, I gambled away the house."

Not entirely related, but we have this show in my country where people live well beyond their means, realize just in time how fucked they are, and call in "experts" (regular people who might do quite well hodling bitcoin) to help them fix their mess. This latest show tonight had a woman (single mother) who kept taking loans to pay off her debt and ended up with an unbelievable 700+% yearly interest. And she had close to $100k in debt because of it.

I simply can not comprehend how ANYONE can be that fiscally idiotic. So just remember, even if you didn't make out like a bandit on these last price swings, there are people doing far worse out there. Unbelievably far worse.

[BlindMayorBitcorn]

[becoin]

seriously though - i've been out of the loop for months. has the scaling stuff, bitcoin core v. classic, etc etc, seriously not been solved?

Yes, it is solved. Classic, Unlimited etc etc.. all bitcoin alts are dead.

[Cassius]

What if its not being borrowed. What if I (or we) can put in $500mil - and this shot in the arm brings in another $20mil new money on the back of it. The $500mil is then liquidated - taking with it (lets say) $10 mil of the money that was put in extra on the crest of the wave.

$10mil in a week isn't bad going - even for someone with $500mil in the bank.

I think maybe that this is how this market is going - purely because the market cap is low.

Follow the log.

You can check shorts on Finex, right? Money is being borrowed to go long/short. Lots of money.

[JimboToronto]

OMG it was just $888 at stamp.

Call in the numerologists. 

[kurious]

What if its not being borrowed. What if I (or we) can put in $500mil - and this shot in the arm brings in another $20mil new money on the back of it. The $500mil is then liquidated - taking with it (lets say) $10 mil of the money that was put in extra on the crest of the wave.

$10mil in a week isn't bad going - even for someone with $500mil in the bank.

I think maybe that this is how this market is going - purely because the market cap is low.

Follow the log.

No - follow the shoe!

[HI-TEC99]

OMG it was just $888 at stamp.

Call in the numerologists.  

After that it went one better by going to $888.8

The Chinese love the number 8 because it's a lucky number for them. We kept returning to $666 for a long time, and the Chinese might keep us returning to $888 for a while. Maybe the same will happen when it hits $8888.

[mymenace]

top out about 1000-1050

dropping to 750-800

averaging out about the magical $888 signifying the Chinese triple fortune numerology conspiracy theory

for rocket ships and moons to start appearing

are we going to see rocket ships and moons now

[kurious]

OMG it was just $888 at stamp.

Call in the numerologists.  

After that it went one better by going to $888.8

The Chinese love the number 8 because it's a lucky number for them. We kept returning to $666 for a long time, and the Chinese might keep us returning to $888 for a while. Maybe the same will happen when it hits $8888.

Maybe that is why the dump started around 8888 CNY

[Tzupy]

If the Chinese don't start dumping within a couple of hours, it's possible to have a bounce until resistance at 7400 CNY.

[Killerpotleaf]

any minute now

[Master mind]

OMG it was just $888 at stamp.

Call in the numerologists. 

Hi

[JimboToronto]

The Chinese love the number 8 because it's a lucky number for them.

Funny how different cultures have different ideas about lucky numbers.

Many western cultures consider 7 to be lucky and 13 to be unlucky.

I chose 13 as my lucky number based on the thinking that because so many people consider it unlucky, I'll scoop the good luck they're throwing away.

Most things in nature have a way of balancing out, luck and karma included.  

In reality, I have to agree with a quote I heard that was originally attributed to baseballer Leo Durocher (I believe) when someone blamed him of being lucky:

"Sure I'm lucky, and the harder I work, the luckier I get."

[DefendKebab]

Sub 800 in 6 hours