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

[bitcoinvest]

sorry if this has already been posted...   found on Reddit.  
>>>>>>>>>>>>>>>>>>
The March 11 date came about because it is 180 days from the publication of the proposed BATS rule change in the Federal Register - there can be no more 45 or 90 day delays - SEC must approve or reject, with no decision = acceptance (Rule 19, Sec Exch Act of 1934)...

 But look at how time periods for publications in the Federal Register are calculated pursuant to 1 CFR 18.17(b):

"Dates certain will be computed by counting the day after the publication day as one, and by counting each succeeding day, including Saturdays, Sundays, and holidays. However, where the final count would fall on a Saturday, Sunday, or holiday, the date certain will be the next succeeding Federal business day."

That would put us at Monday, March 13 for the deadline.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

That's a pertinent bit of detective work.

We were speculating why they made the last possible decision day a Saturday. It seemed strange considering they don't work on Saturdays. Now we know why.

The meeting is 11 of March right?
That means we have exactly 2 weeks from now. Is this normal for USA to hold such meetings on Suturday? it's working day?? and result will be same day or need also wait?

That's the decision deadline. There's no associated meeting. They might already have made up their minds. Falling on a Saturday is a bit of a weird move indeed. I've read elsewhere that no ETF has ever passed by doing nothing, which is what some people are expecting here, and there's no way something so new and complex would pass like that either.

We'll know either way before that Saturday I expect.

+1
I remember some days before that i mentioned that the last day is Saturday and until now nobody had a clue
Well done for your information! That is also interesting to know!
Good night bitcoin land!

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[travwill]

It's going to run up this weekend likely further by those with available funds buying now before newbies waiting on bank funds to process and arrive Mon/Tue/Wed can buy.

[TeeBone]

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.

I'm pretty sure you wouldnt put money on it.

When someone throws out outlandish assertion, a simple "wanna bet?" will have them scurrying to their corner.

There is a far greater chance, multitudes higher, that Bitcoin (and not gold) is worthless in 50 years.

[TeeBone]

If you think that Bitcoin is just a currency, you don't know what you're talking about. Cut the analysis bullshit and go back into your metal bagholding forums. You can't sell me such stories.

I guess you did not get the hint when they named it cryptocurrency instead of....cryptomoney.  It is a currency; it's not money.  Currencies are generally always a bad investment on a long timeline and there is no reason to own them unless you actually use them.  Once the market cap tops out, whether that's at $1200 a coin, $200 a coin, or $10,000 a coin, everyone who was attempting to use it as a store of value is going to flee the ship to the base of Exter's pyramid (metals) since they are a superior store of value, while the only people that continue to hold coins will be the people who actually use it as a currency.  

The number of people using it as a currency will obviously be factored by it's throughput (TPS).  To have a high market cap as a currency, TPS would probably have to be drastically higher than it is now with something like a functioning LN and 5000 TPS.  At that level it could probably float a large market cap as a payment processor, but I do not see a currency functioning well at low TPS with 1 MB blocks and no segwit or LN since low TPS is counterintuitive to how a currency is supposed to function (high turnover, not based on being a store of value or generational investment).

Spot on analysis. Bitcoin isnt even a commodity, ergo can never be money. It has no use outside a medium of exchange, all you can do with a btc is dump on the next greater fool lol (not that i mind the pyramid-like profits, ill just make sure i turn them into tangible assets at some point).

[marcus_of_augustus]

If you think that Bitcoin is just a currency, you don't know what you're talking about. Cut the analysis bullshit and go back into your metal bagholding forums. You can't sell me such stories.

I guess you did not get the hint when they named it cryptocurrency instead of....cryptomoney.  It is a currency; it's not money.  Currencies are generally always a bad investment on a long timeline and there is no reason to own them unless you actually use them.  Once the market cap tops out, whether that's at $1200 a coin, $200 a coin, or $10,000 a coin, everyone who was attempting to use it as a store of value is going to flee the ship to the base of Exter's pyramid (metals) since they are a superior store of value, while the only people that continue to hold coins will be the people who actually use it as a currency.  

The number of people using it as a currency will obviously be factored by it's throughput (TPS).  To have a high market cap as a currency, TPS would probably have to be drastically higher than it is now with something like a functioning LN and 5000 TPS.  At that level it could probably float a large market cap as a payment processor, but I do not see a currency functioning well at low TPS with 1 MB blocks and no segwit or LN since low TPS is counterintuitive to how a currency is supposed to function (high turnover, not based on being a store of value or generational investment).

Spot on analysis. Bitcoin isnt even a commodity, ergo can never be money. It has no use outside a medium of exchange, all you can do with a btc is dump on the next greater fool lol (not that i mind the pyramid-like profits, ill just make sure i turn them into tangible assets at some point).

... looks like jstolfi and cohort sockpuppets have shown up again, shiny new nyms and everything.

[Karpeles]

I'm the only one not comfortable with the recent rise while the unconfirmed transactions are about to reacj 100k and the ETF still is undefined and the PBOC and the chinese exchanges are about to pull some surprise?

[TeeBone]

If you think that Bitcoin is just a currency, you don't know what you're talking about. Cut the analysis bullshit and go back into your metal bagholding forums. You can't sell me such stories.

I guess you did not get the hint when they named it cryptocurrency instead of....cryptomoney.  It is a currency; it's not money.  Currencies are generally always a bad investment on a long timeline and there is no reason to own them unless you actually use them.  Once the market cap tops out, whether that's at $1200 a coin, $200 a coin, or $10,000 a coin, everyone who was attempting to use it as a store of value is going to flee the ship to the base of Exter's pyramid (metals) since they are a superior store of value, while the only people that continue to hold coins will be the people who actually use it as a currency.  

The number of people using it as a currency will obviously be factored by it's throughput (TPS).  To have a high market cap as a currency, TPS would probably have to be drastically higher than it is now with something like a functioning LN and 5000 TPS.  At that level it could probably float a large market cap as a payment processor, but I do not see a currency functioning well at low TPS with 1 MB blocks and no segwit or LN since low TPS is counterintuitive to how a currency is supposed to function (high turnover, not based on being a store of value or generational investment).

Spot on analysis. Bitcoin isnt even a commodity, ergo can never be money. It has no use outside a medium of exchange, all you can do with a btc is dump on the next greater fool lol (not that i mind the pyramid-like profits, ill just make sure i turn them into tangible assets at some point).

... looks like jstolfi and cohort sockpuppets have shown up again, shiny new nyms and everything.

Har har...you're so proggy, man. Can i be an SJW like you ?

[lightfoot]

Back on topic, can someone update that stupid Wiley Coyote gif to go from 300 to 1300?

Because this is important.


C

[cmacwiz]

$1.3k by tonight, or else.....     

Does anyone know a good magic the gathering website that accepts bitcoin? Something like an exchange for btc and mtg cards, some sort of magic the gathering online exchange....

[gentlemand]

Har har...you're so proggy, man. Can i be an SJW like you ?

Whoever uses those three letters automatically outs themselves as a distended, knotty penis whether they're an alt of someone else or not.

[Searing]

 Nostalgia.

This thread started April 13th, 2013. The same week I discovered BTC. also same week I ordered
BFL equip to arrive in May 2013. (Phone voice verified) (Jally 5 gh arrived 🎃 Oct 31st 2017)
Such a clueless Newbie I was. 🤔

Anyway back to this thread start on April 13th, 2013. BTC was 67.43 bucks

https://bitcointalk.org/index.php?topic=178336.msg1858442#msg1858442

Wow!

😳
 

[r0ach]

$1.3k by tonight, or else.....     

Does anyone know a good magic the gathering website that accepts bitcoin? Something like an exchange for btc and mtg cards, some sort of magic the gathering online exchange....

[marcus_of_augustus]

If you think that Bitcoin is just a currency, you don't know what you're talking about. Cut the analysis bullshit and go back into your metal bagholding forums. You can't sell me such stories.

I guess you did not get the hint when they named it cryptocurrency instead of....cryptomoney.  It is a currency; it's not money.  Currencies are generally always a bad investment on a long timeline and there is no reason to own them unless you actually use them.  Once the market cap tops out, whether that's at $1200 a coin, $200 a coin, or $10,000 a coin, everyone who was attempting to use it as a store of value is going to flee the ship to the base of Exter's pyramid (metals) since they are a superior store of value, while the only people that continue to hold coins will be the people who actually use it as a currency.  

The number of people using it as a currency will obviously be factored by it's throughput (TPS).  To have a high market cap as a currency, TPS would probably have to be drastically higher than it is now with something like a functioning LN and 5000 TPS.  At that level it could probably float a large market cap as a payment processor, but I do not see a currency functioning well at low TPS with 1 MB blocks and no segwit or LN since low TPS is counterintuitive to how a currency is supposed to function (high turnover, not based on being a store of value or generational investment).

Spot on analysis. Bitcoin isnt even a commodity, ergo can never be money. It has no use outside a medium of exchange, all you can do with a btc is dump on the next greater fool lol (not that i mind the pyramid-like profits, ill just make sure i turn them into tangible assets at some point).

... looks like jstolfi and cohort sockpuppets have shown up again, shiny new nyms and everything.

Har har...you're so proggy, man. Can i be an SJW like you ?

must feel pretty shit for you and roach to get cucked by the raging bull bitcoin, such a gimped currency and still crapping all over gold and silver?

You cucks might have to spend a night (or two?) spooning to make each other feel better? Put a roll of gold coins in there to warm yas all up too maybe?

[BinaryReign]

Nostalgia.

This thread started April 13th, 2013. The same week I discovered BTC. also same week I ordered
BFL equip to arrive in May 2013. (Phone voice verified) (Jally 5 gh arrived 🎃 Oct 31st 2017)
Such a clueless Newbie I was. 🤔

Anyway back to this thread start on April 13th, 2013. BTC was 67.43 bucks

https://bitcointalk.org/index.php?topic=178336.msg1858442#msg1858442

Wow!

😳
 

Same story as me, almost exactly. Only I ordered more gh/s of bfl gear, and didn't get it all until late Sept/Oct 😆
 

[JimboToronto]

must feel pretty shit for you and roach to get cucked by the raging bull bitcoin, such a gimped currency and still crapping all over gold and silver?

You cucks might have to spend a night (or two?) spooning to make each other feel better? Put a roll of gold coins in there to warm yas all up too maybe?

LOL pwned.

Don't be so hard on the gold bugs. They can't help it. They try to replace brains with shiny things.  



I sometimes think goldbug threads should be moved to the altcoin folder.
_________

That said, don't get too smug about gold being vulnerable to space mining. Remember what quantum computing could mean to SHA256.  

[r0ach]

must feel pretty shit for you and roach to get cucked by the raging bull bitcoin, such a gimped currency and still crapping all over gold and silver?

You cucks might have to spend a night (or two?) spooning to make each other feel better? Put a roll of gold coins in there to warm yas all up too maybe?

LOL pwned.

Don't be so hard on the gold bugs. They can't help it. They try to replace brains with shiny things.  

This paper market ponzi looks like it's getting a little close to the end of days:

[marcus_of_augustus]

http://www.pbs.org/newshour/making-sense/column-boom-bitcoin-bubble-thats-burst/

some interesting points in here ... and solid conclusion, no bubble, yet. I'd concur with that.

If/when bitcoin goes mainstream it has to go through a "inverse Minsky moment" type event as it runs up the vertical part of the S-adoption curve and confidence in fiat currency takes a major hit in the wider population. Imho we haven't seen anything like that yet and it will be mind-blowing to everyone witnessing it, even the most crazy bullish bitcoin permabulls ...  it will be queues on the street outside bitcoin sellers people wishing to dump fiat like a hot potato type manic insanity.

[bones261]

Well, if the pending financial crisis happens, and only gold will be worth a damn, I'm fortunate that I live near this.http://www.ci.wheatridge.co.us/1184/Gold-Panning I live within walking distance of the prohibited area. I don't think anyone will care about city ordinance at this point. Best part is that if I shovel a bucket load of dirt real quick and do the panning at home, the government won't know that I have the gold.  

As long as you're prepared to move an average of 10-100 tons of earth per ounce.  I'm more bullish on silver, though.

I'll just have to move to the mountains then. I'm sure there will be new interest in all the abandoned silver mines up there. If worse comes to worse, I can just fish to eat and forage for berries and mushrooms. Maybe bring down some elk with my rifle.

[JimboToronto]

This paper market ponzi looks like it's getting a little close to the end of days

This is why some of us don't see the big deal about a Bitcoin ETF.

Paper is just paper, whether it's fiat currency, gold certificates or ETF shares.

My bitcoins are as real as the metal hanging around Lawrence Turauld's neck.

Sure we could lose them. You could ambush Larry, shoot him and steal his chains. You could haul me off to Guantanamo Bay and waterboard me until I gave up my private keys.

Paper assets are only as secure as whomever issues the certificates. They can steal your money without ever even getting close to you.

[r0ach]

My bitcoins are as real as the metal hanging around Lawrence Turauld's neck.

The main issue with your thinking is the assumption that bitcoin is free of counter party risk just because you have the private keys.  It's not.  MatTheCat is a few Budweisers short of a 6pack and even he figured this out.  Holding a commodity form of money in your hand (generally noble metals) and defending it with an AR15 is really the only way to completely get out of counter party risk, as the bitcoins never actually leave the blockchain in the first place - an electronic amalgamation of a domain in which you don't really have any power over yourself.