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

[PoolMinor]

because they want to use the best tool for censorship-proof value transfer in the world

If it was censorship proof you could just steal a bunch of bitcoins then simply dump them on Coinbase...but you can't.  Anything that's not fungible is a permissioned ledger by default.

I want to know where to purchase food directly with gold.

[bones261]

because they want to use the best tool for censorship-proof value transfer in the world

If it was censorship proof you could just steal a bunch of bitcoins then simply dump them on Coinbase...but you can't.  Anything that's not fungible is a permissioned ledger by default.

I want to know where to purchase food directly with gold.

I'm sure that if you had a gold coin, you could go to a neighbor, state "this is all I have and I'm hungry," and your neighbor is more than likely to let you help yourself.

[PoolMinor]

because they want to use the best tool for censorship-proof value transfer in the world

If it was censorship proof you could just steal a bunch of bitcoins then simply dump them on Coinbase...but you can't.  Anything that's not fungible is a permissioned ledger by default.

I want to know where to purchase food directly with gold.

I'm sure that if you had a gold coin, you could go to a neighbor, state "this is all I have and I'm hungry," and your neighbor is more than likely to let you help yourself.

The point is a gold transaction only occurs during a permissioned transaction.

[HI-TEC99]

It's hit a daily high of $1260 on stamp again. That news about the FED raising the rate might be filtering through to the early risers in China. Lets see what happens when they've all woken up and heard the news. Bitcoin up, Yuan down?

[r0ach]

I want to know where to purchase food directly with gold.

Do you think this guy is more likely to accept bitcoin or gold?

[Torque]

I want to know where to purchase food directly with gold.

Do you think this guy is more likely to accept bitcoin or gold?

In Venezuela, definitely bitcoin.

[marcus_of_augustus]

Whew, what's it gonna take?

The BU shitshow rolls on ... ok, we get that the big blockers are butthurt about being told to sit down and shut-up when their ruckus became unseemly but why the fuck are they persisting to fuck everything up that they do and righteously insist they have bitcoin's best interests at heart and they have the best possible solution?

Bitcoin needs a long-term max_block_size increasing solution, everyone knows that, BU is not it, an interesting idea that brings something to the table but definitely not The One, they need to get over that. Anyone who thinks they have IT, put it up on github and let's talk about it ... same as it ever was.

[PoolMinor]

I want to know where to purchase food directly with gold.

Do you think this guy is more likely to accept bitcoin or gold?

The esoteric nature of that transaction is not a feasible scenario.

[Holliday]

because they want to use the best tool for censorship-proof value transfer in the world

If it was censorship proof you could just steal a bunch of bitcoins then simply dump them on Coinbase...but you can't.  Anything that's not fungible is a permissioned ledger by default.

Remember that time when the culprits who stole 850,000 bitcoins from Gox were caught thanks to block chain forensics?

Besides, I'm referring to moving bitcoins from address to address via the block chain, and you know that. I'm trying to think of an instance where trading one asset for another with another party doesn't require permission.

[r0ach]

In Venezuela, definitely bitcoin.

I've already looked up info on Venezuela before.  I expected bitcoin to sell for a premium there...but no..it seems to sell at a loss if anything for the only instances I could find.  Metals seem to have an enormous premium, though.  I also expected lots of cheap real estate deals you could buy using external currency, but nope.  Real estate is actually sky high with shitty houses for high amounts of cash.  People seem to be buying up housing to avoid hyperinflation/currency collapse.

[bitserve]

Altcoins market cap now more than 6billion$. It has almost doubled in... a week? In the meantime, bitcoin price being rock solid.

Let's see what happens when the altcoin bubble explodes...

[DieJohnny]

Altcoins market cap now more than 6billion$. It has almost doubled in... a week? In the meantime, bitcoin price being rock solid.

Let's see what happens when the altcoin bubble explodes...

Dash will tank but only probably 30%, ETH is just getting started and everything else is pretty stable. In 10 years this won't be remembered just as the age of bitcoin. It will be the birth of several coins that will have multiple billion market caps. Each with uniquely different reasons to own each. Bitcoin is clearly positioning itself very narrowly. ETH incredibly broadly. Dash and XMR as fungible anonymous money. I own them all except Dash... i am a dash hater not sure why.

[Torque]

Altcoins market cap now more than 6billion$. It has almost doubled in... a week? In the meantime, bitcoin price being rock solid.

Let's see what happens when the altcoin bubble explodes...

'Cause things like this totally makes sense, right? Lol

https://coinmarketcap.com/currencies/shadowcash/#charts

[bitserve]

Altcoins market cap now more than 6billion$. It has almost doubled in... a week? In the meantime, bitcoin price being rock solid.

Let's see what happens when the altcoin bubble explodes...

Dash will tank but only probably 30%, ETH is just getting started and everything else is pretty stable. In 10 years this won't be remembered just as the age of bitcoin. It will be the birth of several coins that will have multiple billion market caps. Each with uniquely different reasons to own each. Bitcoin is clearly positioning itself very narrowly. ETH incredibly broadly. Dash and XMR as fungible anonymous money. I own them all except Dash... i am a dash hater not sure why.

I don't understand what you mean by this statement:

Bitcoin is clearly positioning itself very narrowly. ETH incredibly broadly.

(Not sure if it is because english is my second language or because the meaning is not clear)

I agree with all the rest... except that dash will probably tank much more as soon as masternodes try to sell their stash and force a cascading dump.

[jbreher]

I'm expected to trust these people with the Bitcoin network?

This is Bitcoin. If we need to trust anyone with it, it has already failed.

[blockcha1n]

I'm expected to trust these people with the Bitcoin network?

This is Bitcoin. If we need to trust anyone with it, it has already failed.

Amen to that brother.....
Amen to that.

[d5000]

Will there be a double top at ~$1300 and a trend reversal or will the uptrend continue?

In the last days, I thought trend reversal was more probable, because there are few fundamentals that support a further price increase, and the people who speculated on the ETF and are still not out could be a problem if there is a small correction that could then be magnified and become a real crash. But the price increase in the last days looks very solid. So at the moment I'm unable to do any predictions - it looks 50/50 for continuing uptrend or trend reversal.

A problem could be the current Dash bubble. When it bursts (and I'm almost sure it will), then I think people could return to fiat instead to Bitcoin, taking Bitcoin's price respect to the USD/EUR/CNY down with them - there's a large amount of money inside this instamined s*itcoin.

[Holliday]

I'm expected to trust these people with the Bitcoin network?

This is Bitcoin. If we need to trust anyone with it, it has already failed.

[bitserve]

A problem could be the current Dash bubble. When it bursts (and I'm almost sure it will), then I think people could return to fiat instead to Bitcoin, taking Bitcoin's price respect to the USD/EUR/CNY down with them - there's a large amount of money inside this instamined s*itcoin.

I don't see the problem there: When Dash bursts, even if all of it went to fiat it should not affect bitcoin price... and if some percentage of it goes to Bitcoin that means up, not down for bitcoin.

But there's not that much amount of money inside Dash: Take into account that 80% of the coins are currently locked in masternodes, if you add some individuals with big stashs, it leaves a very small amount of free-float. That's why the price has been so fast to increase... and it will be even faster to drop once the panic starts and masternodes start withdrawing in hordes.

[d5000]

When Dash bursts, even if all of it went to fiat it should not affect bitcoin price... and if some percentage of it goes to Bitcoin that means up, not down for bitcoin.

I guess most people would trade Dash -> BTC -> Fiat. By far, Dash/BTC is the largest market, Dash/USD is tiny compared to it. I don't think there will be a relevant impact of a massive Dash -> BTC movement into the BTC/USD price, but a large "Dash bank run" into fiat via BTC could affect the price to the downside.

Volume of Dash was 25-75 million per day in the last week, so there is some money in there. Maybe not sufficient for a large crash, but it could cause a correction, above all if - as you speculate - there were massively masternodes withdrawing from the Dash ecosystem.