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

[Killerpotleaf]

[spiderbrain]

Thanks, hilarious =)

[Stringer Bell]

Funny but not really accurate

[becoin]

Thanks, hilarious =)

Who thinks that every coffee or beer they purchase with bitcoins should be written in the history books and never forgotten by future generations?
Only people with "unlimited" stupidity or "unlimited" ego do!

[Karartma1]

Thanks, hilarious =)

Who thinks that every coffee or beer they purchase with bitcoins should be written in the history books and never forgotten by future generations?
Only people with "unlimited" stupidity or "unlimited" ego do!

Brilliant comment becoin.
But for the same reason I would love to keep my heavy weight transactions off the grid.

[gentlemand]

But for the same reason I would love to keep my heavy weight transactions off the grid.

Then we need a middle ground. Perhaps sandwich purchases are the sweet spot so our descendants can check what we ate. Everything above or below that needs to be in the dark.

[Searing]

But for the same reason I would love to keep my heavy weight transactions off the grid.

Then we need a middle ground. Perhaps sandwich purchases are the sweet spot so our descendants can check what we ate. Everything above or below that needs to be in the dark.

porn..who had the best porn seaches of the 21st century on the bockchain.....hell ...may as well in that the Congress just allowed ISP's to sell our individual search info

(soo...doomed.....all them "lonely babysitter sites" (so...ashamed..not really but now that they can read my searches ...time to fake being contrite)

[r0ach]

Jim Rickards says "climate change" is just a made up trojan horse for the jews to try and impose global govt (aka global usury slave system):

https://youtu.be/1nxdsabMYI0?t=1262

[r0ach]

And someone didn't want to accept my statement that bitcoin is a currency and not money so I had to explain in greater detail why:

Bitcoin is a currency not money.  If you don't agree, YOU don't understand finance.  It's a Rube Goldberg machine and nothing more.  No random bullshit made up of completely arbitary variables created by humans is money.  Money represents goods and services or the ability to do work.  It's required to be connected to some type of commodity or energy resource if you're abstracting the system away from barter, otherwise the system is easily gamed and implodes as always.

Bitcoin is not a real commodity, it's a poor immitation like some type of tranny.  The sunk cost in so called "creating" a bitcoin in the past does not transfer into delivering anything tangible into the future.  It's more like a steady state system that can catastrophically fail and vaporize all imaginary "wealth" attached to it at any time - the glaring trait of all currencies past and future.  One of the main reasons the noble metals are valued as money (gold and silver) are the anti-corrosive properties to defeat time itself, which guarantees you the ability to transfer that unit of account from the past to future, UNLIKE bitcoin.

[Meuh6879]

https://bitcointalk.org/index.php?topic=18313.new#new

[Miz4r]

And someone didn't want to accept my statement that bitcoin is a currency and not money so I had to explain in greater detail why:

Bitcoin is a currency not money.  If you don't agree, YOU don't understand finance.  It's a Rube Goldberg machine and nothing more.  No random bullshit made up of completely arbitary variables created by humans is money.  Money represents goods and services or the ability to do work.  It's required to be connected to some type of commodity or energy resource if you're abstracting the system away from barter, otherwise the system is easily gamed and implodes as always.

Bitcoin is not a real commodity, it's a poor immitation like some type of tranny.  The sunk cost in so called "creating" a bitcoin in the past does not transfer into delivering anything tangible into the future.  It's more like a steady state system that can catastrophically fail and vaporize all imaginary "wealth" attached to it at any time - the glaring trait of all currencies past and future.  One of the main reasons the noble metals are valued as money (gold and silver) are the anti-corrosive properties to defeat time itself, which guarantees you the ability to transfer that unit of account from the past to future, UNLIKE bitcoin.

Too bad you don't understand money yourself r0ach. The wealth attached to gold and silver is no more or less real than the wealth attached to Bitcoin. It could vaporize just as easily once enough people discover that gold and silver is completely outdated as a form of money and they are really nothing more than shiny rocks that are way too cumbersome to use and represent value in the modern digital world. Good luck living in the past with your useless heap of rocks, I prefer to embrace the future with Bitcoin as money instead.

[gembitz]

And someone didn't want to accept my statement that bitcoin is a currency and not money so I had to explain in greater detail why:

Bitcoin is a currency not money.  If you don't agree, YOU don't understand finance.  It's a Rube Goldberg machine and nothing more.  No random bullshit made up of completely arbitary variables created by humans is money.  Money represents goods and services or the ability to do work.  It's required to be connected to some type of commodity or energy resource if you're abstracting the system away from barter, otherwise the system is easily gamed and implodes as always.

Bitcoin is not a real commodity, it's a poor immitation like some type of tranny.  The sunk cost in so called "creating" a bitcoin in the past does not transfer into delivering anything tangible into the future.  It's more like a steady state system that can catastrophically fail and vaporize all imaginary "wealth" attached to it at any time - the glaring trait of all currencies past and future.  One of the main reasons the noble metals are valued as money (gold and silver) are the anti-corrosive properties to defeat time itself, which guarantees you the ability to transfer that unit of account from the past to future, UNLIKE bitcoin.

Too bad you don't understand money yourself r0ach. The wealth attached to gold and silver is no more or less real than the wealth attached to Bitcoin. It could vaporize just as easily once enough people discover that gold and silver is completely outdated as a form of money and they are really nothing more than shiny rocks that are way too cumbersome to use and represent value in the modern digital world. Good luck living in the past with your useless heap of rocks, I prefer to embrace the future with Bitcoin as money instead.

^gold & silver is used in the computers that mine this bitcoin stuff ! :-D

[r0ach]

And someone didn't want to accept my statement that bitcoin is a currency and not money so I had to explain in greater detail why:

Bitcoin is a currency not money.  If you don't agree, YOU don't understand finance.  It's a Rube Goldberg machine and nothing more.  No random bullshit made up of completely arbitary variables created by humans is money.  Money represents goods and services or the ability to do work.  It's required to be connected to some type of commodity or energy resource if you're abstracting the system away from barter, otherwise the system is easily gamed and implodes as always.

Bitcoin is not a real commodity, it's a poor immitation like some type of tranny.  The sunk cost in so called "creating" a bitcoin in the past does not transfer into delivering anything tangible into the future.  It's more like a steady state system that can catastrophically fail and vaporize all imaginary "wealth" attached to it at any time - the glaring trait of all currencies past and future.  One of the main reasons the noble metals are valued as money (gold and silver) are the anti-corrosive properties to defeat time itself, which guarantees you the ability to transfer that unit of account from the past to future, UNLIKE bitcoin.

Too bad you don't understand money yourself r0ach. The wealth attached to gold and silver is no more or less real than the wealth attached to Bitcoin. It could vaporize just as easily once enough people discover that gold and silver is completely outdated as a form of money and they are really nothing more than shiny rocks that are way too cumbersome to use and represent value in the modern digital world. Good luck living in the past with your useless heap of rocks, I prefer to embrace the future with Bitcoin as money instead.

Completely wrong and you know you're a bullshit artist already.  There was absolutely zero reasoning in that response.  It was just blah blah metals are a barbarous relic and bitcoin is "da future!" but I can't explain why, it just is for no reason!  Because I'm an idiot hipster in a digital hipster world, and bitcoin is digital therefore it's good!  Yea, and fiat notes are digital too, go load up and see what happens.  

Money has NUMEROUS different traits that have to be satisfied, and the only trait being so called "digital" helps is it's portability.  Congratulations, you have exceled at around 10% of the required traits.  Bitcoin is a currency and not money.  Just because being digital allows you to dump it fast (portability), does not make it money or superior to anything else.

[podyx]

Why is ripple of all shitcoins getting pumped??

[gentlemand]

Why is ripple of all shitcoins getting pumped??

Why the hell not? In present conditions my clinkers would get pumped if I could get them on there. Just goes to show we have rather a lengthy way to go before any actual rationality prevails.

[JimboToronto]

Good morning Bitcoinland.

Still creeping up mostly sideways... currently $1089 (Bitcoinaverage).

Why is ripple of all shitcoins getting pumped??

Maybe stuff like this?

https://www.cryptocoinsnews.com/mufg-ripple-blockchain/

It's an attempt to create a "rules-based blockchain payments network".

It flies in the face of everything Bitcoin stands for. It wants to be centralized and tightly controlled. The more inflationary the better.

Sigh.

[HI-TEC99]

Good morning Bitcoinland.

Still creeping up mostly sideways... currently $1089 (Bitcoinaverage).

Bitstamp's just hit a 24 hour high of $1095. Can it push above that $1100 barrier this time? Yesterday it made it all the way up to $1097, then retraced back down as an April fool's joke. Maybe this time it will push above that barrier, or maybe we stay range bound between $1060 and $1100.

[tk3609]

We are currently finishing accumulation phase and preparing for new bull market. Sideways should be over soon.

[sirazimuth]

Why is ripple of all shitcoins getting pumped??

Why the hell not? In present conditions my clinkers would get pumped if I could get them on there. Just goes to show we have rather a lengthy way to go before any actual rationality prevails.

as usual...thanx for the lol ...

clinkers  otherwise know as clingons

[CoinCube]

And someone didn't want to accept my statement that bitcoin is a currency and not money so I had to explain in greater detail why:

Bitcoin is a currency not money.  If you don't agree, YOU don't understand finance.  It's a Rube Goldberg machine and nothing more.  No random bullshit made up of completely arbitary variables created by humans is money.  Money represents goods and services or the ability to do work.  It's required to be connected to some type of commodity or energy resource if you're abstracting the system away from barter, otherwise the system is easily gamed and implodes as always.

Bitcoin is not a real commodity, it's a poor immitation like some type of tranny.  The sunk cost in so called "creating" a bitcoin in the past does not transfer into delivering anything tangible into the future.  It's more like a steady state system that can catastrophically fail and vaporize all imaginary "wealth" attached to it at any time - the glaring trait of all currencies past and future.  One of the main reasons the noble metals are valued as money (gold and silver) are the anti-corrosive properties to defeat time itself, which guarantees you the ability to transfer that unit of account from the past to future, UNLIKE bitcoin.

The distinction between money and currency is one that is blurry and arbitrary.

Many tend to think of money as something that is tied to a physical commodity and everything else as currency but that is not really accurate.

The reality is that all money/currency is an arbitrary construct created by man to facilitate trade and savings. Paper currencies have a long track record of failure. This failure is due to the inherent flaws of mankind rather then a fundamental problem with paper money.

We choose to embrace things like fractional reserve lending, defect spending, and unfounded entitlements all of which lead to fiscal instability and undermine the currency system leading to eventual failure.

Gold and Silver are simply attempts to take human weakness out of the picture by tying the concept of money to something that cannot be easily forged or mass produced. This works to a degree but it historically also ultimately fails to restrain us from eventually debasing and destroying the currency system. We see this in Rome and also in our recent past as we were not long ago on a gold standard.

Bitcoin is a new attempt to separate destructive human weakness from a money/currency system. The new mechanism is decentralization and computer algorithm to replace flawed human judgment. If it will succeed long term remains to be seen but we know paper currency consistently and repeatedly fails and we know precious metal currency repeatedly fails so now we will learn how well digital currency works.

How this scaling debate plays out will be important to watch. The 95% requirement for implementation as seen in some of the Bitcoin update proposals is a very wise threshold to use. If Bitcoin ever becomes a simple voting mechanism where 51% of hashing power is able to implement widely accepted changes to the protocol over the objections of the other 49% then human error has returned to the forefront. Bitcoin would then become the same system we already have.  A complex fiat voting system.