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

[Torque]

Theorem:

The soundest form of cryptocurrency shouldn't have to fight for "popularity" amongst others, nor will it. In the long run, sound money is not a popularity contest.

A cryptocurrency's economic/governance model and strength & security of its network should speak for itself, and become self-evident to all involved eventually over time.

Other, lesser cryptocurrencies will eventually wither and die.

Question: Does Gresham's law apply to the world of cryptocurrencies as well? Hmmm...

Also, go Bitcoin!

[Meuh6879]

We can't fight this.
But we can vote SegWit ... too.

[gembitz]

$1200x$1300 /\BTC setting up for the pump++ :-D //^to the moon$$$

[Killerpotleaf]

STEEMIT MENTIONED ON INFOWARS TODAY at start of video!: https://www.youtube.com/watch?v=iN2a_bbzbi0    

- should be uploaded on official alex jones channel by tomorrow. InfoWars is looking for alternative sites to use.

alexjones bought steem it  

[travwill]

... and here is the drop again.  always drops so much faster than it rises 

[Torque]

... and here is the drop again.  always drops so much faster than it rises 

That's what she said

[HI-TEC99]

... and here is the drop again.  always drops so much faster than it rises 

It's bouncing back up already, and it's staying higher than it was twelve hours ago. The long term trend is up despite a few small drops.

[CoinCube]

I don't understand what counterparty risk has to do with money/currency distinction? Counterpaty risk is the probability of not getting good or services you have paid for or not getting the money if you're the seller. If I hold a gold coin in my hand or I''m the only one that knows the private keys of a bitcoin address then there is no counterparty risk and I'm 100% confident that I received payment for goods or services I sold.

It doesn't matter how many members one organization has - two or five or 50. You have to define what do you mean by "secured by"? I'm using "depends on". Doesn't depend on means if that organization of two or five or 50 members disappears this asset was and still is money if it still has value. If the value of this asset goes to zero then it was currency before losing its value as it was backed by a second asset that disappeared. The distinction is very clear. If something is backed by nothing and is used as money then it is money!

Until 1971 the US dollar was currency. It was a certificate giving you the right to convert it into gold as it was pegged to gold. After gold window was closed the US dollar became money. Yes, that's right! If you present a 100 dollar bill to the Fed they will not redeem it as they don't have any obligation whatsoever. If Fed disappears the US dollar will still have value IF it is scarce and has limited supply! I'd even say that without Fed the value of US dollar will increase.

Becoin there is nothing wrong with defining currency the way you do but that is not the only way to define it nor is it particularly enlightening to define it that way. If you look up how currency is defined in the dictionary you will see a different definition. r0ach upthread uses yet another definition.

Far more useful is to focus on the necessary properties that allow money/currency to function in its role of facilitating trade and savings.

Everything has counterparty risk even physical gold or bitcoins for which you control the private keys.

For those situations where you have physical control of the an asset the counterparty risk is the social network which uses and accepts said asset. If you accept silver, gold, dollars or bitcoin as payment for services rendered you are taking a risk that the networks of individuals who accept these things will continue to exist in the future allowing you to someday exchange these things later for future goods and services. The stronger and more robust the network the lower the counterparty risk.

[MinermanNC]

In terms of a crypto as a currency, the only thing that always has haunted me in the back of my mind is its dependence on the internet. Ever take that away we have nothing in crypto.  

Don't see that ever happening on a broad scale... guess we can trade potatoes if it does lol

BTC is looking good today!!  

[Killerpotleaf]

it really odd that the ETF denial didnt kill bitcoin.

 

[MinermanNC]

it really odd that the ETF denial didnt kill bitcoin.

 

Nah that one thing wouldn't kill BTC, it would have helped it no doubt, but BTC has been holding its own for a while before that all came down.

I'm sure ETF lives on for another battle another day...

Not that I have closely followed those events 

[MinermanNC]

Personally I make more money in crypto when BTC is struggling lol 

But I also think that without a strong BTC all crypto's will eventually suffer too

[leowonderful]

Drop? Didn't notice a thing when I got on the forum, checked price and it was higher than it was this morning. I just don't know why people are all scared and panicked for such small drops- the trend is still slightly bullish, no need to worry. Alts are going through a P+D, don't know about you, but I don't see any major retailers like Newegg or even vendors here accepting Litecoin or Ethereum.

[Killerpotleaf]

or get in the alt coin car!



your choice.

[Vhern]

it really odd that the ETF denial didnt kill bitcoin.

 

Nah that one thing wouldn't kill BTC, it would have helped it no doubt, but BTC has been holding its own for a while before that all came down.

I'm sure ETF lives on for another battle another day...

Not that I have closely followed those events 

Best to have their day trying with ETC to make it worth anybody while to invest into ethereum anymore because they just dumped alot and now 30% of what it was last week.
ETF for ETC would be more suited since they are all business oriented and BTC should remain a free radical.

[hulla]

It is possible that BTC is making a second shoulder in head-and-shoulder formation and will bottom at around $750-850.
Then again, bull market may continue in a slow fashion.
I am curious about LTC, but it could be just a fluke.

The Ltc mount up in price could be a fluke as you said but I don't believe the price of bitcoin will go down to the bottom around $750-$850 and if you check the price as at now keep it mounting up because the price per bitcoin has put more optimism into the minds of traders which ginger the increase in price.

[gembitz]

it really odd that the ETF denial didnt kill bitcoin.

 

Nah that one thing wouldn't kill BTC, it would have helped it no doubt, but BTC has been holding its own for a while before that all came down.

I'm sure ETF lives on for another battle another day...

Not that I have closely followed those events 

Best to have their day trying with ETC to make it worth anybody while to invest into ethereum anymore because they just dumped alot and now 30% of what it was last week.
ETF for ETC would be more suited since they are all business oriented and BTC should remain a free radical.

^ETC this is the one worth radaring imho :-D #btc #etc ~ moonbases x1337

[Herbert2020]

This picture (from Seven Psychopaths) made me think of the past month so I did a quick edit on it, just for fun.
Enjoy

[gembitz]

This picture (from Seven Psychopaths) made me think of the past month so I did a quick edit on it, just for fun.
Enjoy

 

[Lauda]

This place seems to quiet during a positive movement. Anyone sold at the bottom?



$1200 would be nice again.