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

[gentlemand]

i am more of an car guy 

Right on.

[marcus_of_augustus]

... or maybe a new set of wheels?, had my eye on this beauty, recommended by the "financial planner"

[ImI]

i am more of an car guy 

Right on.

love it!

[gentlemand]

Now available for less than one BTC if you don't mind some light restoration either. That's the parity I was waiting for.

[gembitz]

\_B)_/

$1337

[AZwarel]

I did help a friend buy some in 2014 at $600, who sold at just over $200 because he couldn't stomach the drop. Never again.

I considered recommending it in the $200s, but thought better of it. Most people will hold a hidden resentment against you if it drops, and their loss will become your burden.

... and it can be even weirder than that. Many people will also resent you if you recommend a winner and they don't buy and it goes up ... basically any time you put yourself in the situation of "i'm right, you're wrong" or "i'm wrong, you're right" and there's financial advantage involved, they will resent you ... it's lose-lose.

Strangely, if you charge them exorbitant fees and call yourself a "financial adviser" all that burden goes away and you can gamble with their funds like a drunken sailor.

Yeah, Friends&Family and financial advice is a VERY difficult subject.

I actually had that experience. I was telling F&F to think about bitcoin when it was around the $250 range, they all laughed at me. Than i had a friend's friend, who paid me handsomely for "financial advice" - well, advice on how to buy and secure bitcoin -, and he actually thanked me around this Christmas
Free advice= shit; paid (same) advice= respectable guidance....

[r0ach]

To what extent does your analysis rest on the assertion that bitcoin can

... arbitrarily be changed by some guy on a random whim when he wakes up in the morning...

Because that is really not a fair summary of the situation. Which I am sure you know without me telling you. But I wonder whether your analysis is fully settled (in your own mind) ...

Even if you don't assume it centralizes through economy of scale, or that mining cartels or other special interest groups take over, another event occurred just recently that many people did not pick up on with legislation in Japan (that will obviously happen everywhere else too).  Govt is a monopoly on force, and cryptocurrency does not supercede political interests or the only consensus system in the real world (force).  Whoever controls the courts controls what bitcoin turns into.  Here is the Japanese legislation:

"Only approved virtual currencies by the authority are considered legitimate and can be traded, sold or promoted to public"

This means govt is the legal arbitrator of forks.  The US, UK, and EU will hold a meeting and all collude saying only the fork with chain anchor or worse is the real bitcoin!  Since they can easily control the exchanges and mining pools, people will be forced to use that fork or have their coins become worthless.  The only reason bitcoin isn't illegal is because they know how easy it is to co-opt and morph it into their cashless society control grid.

[forzendiablo]

this gold parity is amazing but during war.. i would prefer to have gold than BTC ))

[AZwarel]

this gold parity is amazing but during war.. i would prefer to have gold than BTC ))

You mean lead. For bullets.

[Torque]

this gold parity is amazing but during war.. i would prefer to have gold than BTC ))

Aleppo is currently a war zone. Which do you think the refugees would currently be better off trying to smuggle out of the city, bitcoin or gold?  Which would be easier?  Hmmm?

[DieJohnny]

this gold parity is amazing but during war.. i would prefer to have gold than BTC ))

Aleppo is currently a war zone. Which do you think the refugees would currently be better off trying to smuggle out of the city, bitcoin or gold?  Which would be easier?  Hmmm?

How do you buy bitcoin in Aleppo, solar powered, satellite smartphone?

[Torque]

this gold parity is amazing but during war.. i would prefer to have gold than BTC ))

Aleppo is currently a war zone. Which do you think the refugees would currently be better off trying to smuggle out of the city, bitcoin or gold?  Which would be easier?  Hmmm?

How do you buy bitcoin in Aleppo, solar powered, satellite smartphone?

Smartphones work in Aleppo.  Some girl was supposedly Instagramming from there.

How would you buy gold there and smuggle it out? Oh right, you can't.

[r0ach]

Aleppo is currently a war zone. Which do you think the refugees would currently be better off trying to smuggle out of the city, bitcoin or gold?  Which would be easier?  Hmmm?

I was looking into bitcoin in Venezuela after hearing people claim you could buy months of food for 1oz of silver.  I looked into what bitcoin was going for there thinking it would also have a huge premium and it seems instead of a premium, bitcoin goes for less money than in normal, functioning countries lol.  I guess it makes sense because complex systems don't jump to more complexity when they implode (bitcoin), they go back to a more simple state.

[Paashaas]

this gold parity is amazing but during war.. i would prefer to have gold than BTC ))

I'm pretty sure gold will be almost worthless within 50 years, just wait untill the age of space mining starts. There is an end-less supply of gold sitting in all those asteroids together with other ''precious'' metals.

[BlindMayorBitcorn]

Why are silver stackers so eager to see the world implode. Is it the shiny finish?

[r0ach]

I'm pretty sure gold will be almost worthless within 50 years, just wait untill the age of space mining starts.

Can you guys stop freebasing crack before you talk about economics?  Earth is mostly a closed ecosystem and anything you're dragging in from the cosmos is going to have orders of magnitude higher cost of production.  The original moon landing was 1969, so we're already 50 years after that date and the level of progress in moon mining is laughable.  

You also need to process around 10-100 tons of rock just to get an ounce of gold.  You going to do all that out in space or do you plan to just crash giant asteroids into the surface of the earth and kill everyone?  Feel free to go mine gold at the cost of production of $10 million an ounce and having to build nuclear power plants out in space to process all the rocks!  Or do you plan to constantly drag Saudi oil tankers into space with you to raise cost of production even higher?

[BlindMayorBitcorn]

I'm pretty sure gold will be almost worthless within 50 years, just wait untill the age of space mining starts.

droppings

Moon Express has all the capital it needs to land on the moon in November or December of 2017. "The company's goal is twofold: 1) mine the moon for valuable resources, such as Helium-3, gold, platinum group metals, rare earth metals and water; and 2) help researchers develop human space colonies for future generations."

[OROBTC]

Aleppo is currently a war zone. Which do you think the refugees would currently be better off trying to smuggle out of the city, bitcoin or gold?  Which would be easier?  Hmmm?

I was looking into bitcoin in Venezuela after hearing people claim you could buy months of food for 1oz of silver.  I looked into what bitcoin was going for there thinking it would also have a huge premium and it seems instead of a premium, bitcoin goes for less money than in normal, functioning countries lol.  I guess it makes sense because complex systems don't jump to more complexity when they implode (bitcoin), they go back to a more simple state.

A big problem for outsiders re BTC and Venezuela (same comment from here as to re Aleppo) is that Venezuela has nothing to offer (other than large oil exports, though getting smaller, to China, etc.).  So someone wants to send BTC to their family in Venezuela.  How do they spend it there, who would take it?  

If you were to try to send BTC, and get something worthwhile for it, how?  Venezuelans can barely export themselves!  They would not be allowed to bring out (nor send out) anything of value.  PERHAPS one could travel there and spend BTC to the right people (hotel owners), but that just would mean a cheaper trip...

Gold & silver would be more accepted there, but what would you get for it?  Coke & hookers?

Re taking gold out of Venezuela could probably only be done in small quantities (say 0.25 - 0.5 oz per trip: metal detectors at the airport!).

BTC could be taken out as well, either in a small hardware wallet or even a cloud wallet like blockchain.info.

[gembitz]

I'm pretty sure gold will be almost worthless within 50 years, just wait untill the age of space mining starts.

droppings

Moon Express has all the capital it needs to land on the moon in November or December of 2017. "The company's goal is twofold: 1) mine the moon for valuable resources, such as Helium-3, gold, platinum group metals, rare earth metals and water; and 2) help researchers develop human space colonies for future generations."

^MOONS OF JUPITER ===> $1300 BREAKOUT!!! :-D HODL !!!

[BlindMayorBitcorn]

I'm pretty sure gold will be almost worthless within 50 years, just wait untill the age of space mining starts.

droppings

Moon Express has all the capital it needs to land on the moon in November or December of 2017. "The company's goal is twofold: 1) mine the moon for valuable resources, such as Helium-3, gold, platinum group metals, rare earth metals and water; and 2) help researchers develop human space colonies for future generations."

^MOONS OF JUPITER ===> $1300 BREAKOUT!!! :-D HODL !!!