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

[simmo77]

If the institutions are sniffing  ...  their best getting in on a 'personal' level to front run their employers and clients. And some of these folk could scythe through the current whales without breaking a sweat, on both resource and skill levels.

Perhaps yet another reason that hodl may continue to be the best strategy. On two counts.

I agree that hodling is the best strat for long term. Trading stash remains 100% in fiat for the time being though.

[r0ach]

QUICKLY NOW! get some real money before its to late!!!!!!!!!!

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Now that's a fine perspective:

[r0ach]

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.

I do not think you understand the meaning of decentralized. Bitcoin is only centralized logically which is desired. Politically and architecturally it is decentralized. You should be clear that you are arguing for the fact that you "think" it is not politically decentralized. You cannot argue it is not architecturally decentralized because that would simply not be true.

With that you should revisit your article and perhaps I will read it when it is well understood that the author understands the meaning of decentralization on which his whole argument is formed. Heh, you mention ambiguous definitions are tiresome yet you then go off and give assumptions and hypothesis' based on ambiguous definitions yourself.

You can't be serious.  You're basically making the argument that anything where someone has not double spent *YET* or *CONSTANTLY* is automatically decentralized.  That's not how this works.  You are not automatically proven to be decentralized with a functional Nash equilibrium until mass armageddon begins.  It is ironic that the ASIC factory sunk cost is the only reason there is not constant double spend, but those same ASICs also make the system inherently worthless and the equivalent of a closed entropy system at the same time.

[Elwar]

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.

I've come to accept that you put far too much faith in centralized organizations to act intelligently and accomplish what they want to accomplish.

If the central powers were as good as you give them credit for, we would have never needed Bitcoin in the first place.

[matrix zion]

QUICKLY NOW! get some real money before its to late!!!!!!!!!!

QUICKLY
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Now that's a fine perspective:

Yeah of course.
I mean everyone knows that gold and silver are the future xD
They obviously get a better rise than cryptos. That's for sure

It reminds me of kwuckduck. Does anyone actually listen to their FUD? I mean nobody can be stupid enough to believe that trash right? Why even bothering making it in the first place!

[r0ach]

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.

I've come to accept that you put far too much faith in centralized organizations to act intelligently and accomplish what they want to accomplish.

If the central powers were as good as you give them credit for, we would have never needed Bitcoin in the first place.

Not sure what you're referring to.

As for the other guy talking about metals, due to the seasonal aspect of the metals market, I believe July is usually the best month to buy, then the market tends to pump from August onwards.  If bitcoin was flat or down at that time, yea, it would be a good idea to dump bitcoin for metals.  Silver is closing in on a wedge that I believe is going to break upwards hard long before August, though.  They simply can't push them down much lower than they already are, and they definitely can't push platinum down any more (although I like silver better for the monetary Schelling point since platinum is not considered a monetary metal by most).

[Elwar]

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.

I've come to accept that you put far too much faith in centralized organizations to act intelligently and accomplish what they want to accomplish.

If the central powers were as good as you give them credit for, we would have never needed Bitcoin in the first place.

Not sure what you're referring to.

As for the other guy talking about metals, due to the seasonal aspect of the metals market, I believe July is usually the best month to buy, then the market tends to pump from August onwards.  If bitcoin was flat or down at that time, yea, it would be a good idea to dump bitcoin for metals.  Silver is closing in on a wedge that I believe is going to break upwards hard long before August, though.

Every reason you give for not liking Bitcoin tends to be based on some powerful government being able to methodically to stamp it out in some way or another.

[r0ach]

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.

I've come to accept that you put far too much faith in centralized organizations to act intelligently and accomplish what they want to accomplish.

If the central powers were as good as you give them credit for, we would have never needed Bitcoin in the first place.

Not sure what you're referring to.

As for the other guy talking about metals, due to the seasonal aspect of the metals market, I believe July is usually the best month to buy, then the market tends to pump from August onwards.  If bitcoin was flat or down at that time, yea, it would be a good idea to dump bitcoin for metals.  Silver is closing in on a wedge that I believe is going to break upwards hard long before August, though.

Every reason you give for not liking Bitcoin tends to be based on some powerful government being able to methodically to stamp it out in some way or another.

What do you believe the price of bitcoin would be tomorrow if the govt announced it was banned without even lifting a finger at all to exert any force?  Since bitcoin is not the unit of account of anything, the entire basis of it's value is derived from the ability to convert to fiat.  Not that I believe they will actually do such a thing.  It's obvious by this point they plan to try and co-opt it and slide in things like MIT chain anchor when you have vermin like Larry Summers and Bernanke promote it.  It's too difficult for them to trick people into a cashless society slave system otherwise.  They need them to do it voluntarily.

As for metals, gold is still the unit of account of central bankers worldwide, and silver was the unit of account for the majority of people walking the earth for the last few thousand years.  When the current fiat Ponzi system implodes, the Schelling point at that juncture will again place gold and silver at the forefront.  When paper federal reserve notes stop being valuable, the first thought of what money could possibly be now is always going to be gold and silver, not bitcoin.  Sure, bitcoin may or may not get a bump when the financial system implodes, but metals are the Schelling point.

[Elwar]

Ok, people.  I'm tired of fucking around with ambiguous definitions:  Is bitcoin decentralized?  Does bitcoin have value? etc.  I have decided to address these issues from proof of work to proof of stake where a normal human can easily quantify if Bitcoin or any other cryptocurrency has value and whether it will live or die:

http://steemit.com/steemit/@r0achtheunsavory/the-r0ach-report-14-defining-if-cryptocurrency-has-a-value-or-zero-value-from-a-fundamental-scientific-perspective

It's relatively short to read, but if you want the TLDR version, my stance is that proof of stake has no value whatsoever and I explain why, and proof of work with ASIC is almost functionally the same thing (externalized proof of stake) in practice and would also have no value.  I don't think anyone will find a valid argument against this post.

I've come to accept that you put far too much faith in centralized organizations to act intelligently and accomplish what they want to accomplish.

If the central powers were as good as you give them credit for, we would have never needed Bitcoin in the first place.

Not sure what you're referring to.

As for the other guy talking about metals, due to the seasonal aspect of the metals market, I believe July is usually the best month to buy, then the market tends to pump from August onwards.  If bitcoin was flat or down at that time, yea, it would be a good idea to dump bitcoin for metals.  Silver is closing in on a wedge that I believe is going to break upwards hard long before August, though.

Every reason you give for not liking Bitcoin tends to be based on some powerful government being able to methodically to stamp it out in some way or another.

What do you believe the price of bitcoin would be tomorrow if the govt announced it was banned without even lifting a finger at all to exert any force?  Since bitcoin is not the unit of account of anything, the entire basis of it's value is derived from the ability to convert to fiat.  Not that I believe they will actually do such a thing.  It's obvious by this point they plan to try and co-opt it and slide in things like MIT chain anchor when you have vermin like Larry Summers and Bernanke promote it.  It's too difficult for them to trick people into a cashless society slave system otherwise.  They need them to do it voluntarily.

As for metals, gold is still the unit of account of central bankers worldwide, and silver was the unit of account for the majority of people walking the earth for the last few thousand years.  When the current fiat Ponzi system implodes, the Schelling point at that juncture will again place gold and silver at the forefront.  When paper federal reserve notes stop being valuable, the first thought of what money could possibly be now is always going to be gold and silver, not bitcoin.  Sure, bitcoin may or may not get a bump when the financial system implodes, but metals are the Schelling point.

Like I said...way too much faith in the ability of "the govt" to accomplish anything.

I happen to have worked for the government for the past 20 years. The amount of incompetence inherent in the system is astounding. The only way I survive is by making a game of seeing if I can be surprised by the stupidity of the day that comes from anyone with any power. I am fortunate to be given a gift that keeps on giving.

[orpington]

QUICKLY NOW! get some real money before its to late!!!!!!!!!!

QUICKLY
QUICKLY
QUICKLY

Now that's a fine perspective:

Ugh not James Turk again. That guy is always claiming PMs will explode. un-fucking-likely.

[stereotype]

QUICKLY NOW! get some real money before its to late!!!!!!!!!!

QUICKLY
QUICKLY
QUICKLY

Now that's a fine perspective:

Ugh not James Turk again. That guy is always claiming PMs will explode. un-fucking-likely.

Vacuous echo chambers  Go figure.

[orpington]

QUICKLY NOW! get some real money before its to late!!!!!!!!!!

QUICKLY
QUICKLY
QUICKLY

Now that's a fine perspective:

Ugh not James Turk again. That guy is always claiming PMs will explode. un-fucking-likely.

Vacuous echo chambers  Go figure.

This "imminent backwardation" story is getting pretty old and tired.

[LFC_Bitcoin]

Does anybody else keep getting posts deleted in this thread, some that were made months ago? Some kill joy is deleting all the rocket, moon, raining money gifs & pics I've made over time

[Iranus]

QUICKLY NOW! get some real money before its to late!!!!!!!!!!

QUICKLY
QUICKLY
QUICKLY

Now that's a fine perspective:

Well if some irritating guy that no one likes has decided that Bitcoin's going to crash, that confirms your preconceptions pretty well doesn't it?

[kurious]

Does anybody else keep getting posts deleted in this thread, some that were made months ago? Some kill joy is deleting all the rocket, moon, raining money gifs & pics I've made over time

Yes.  Only yesterday I had a 'Happy Birthday' post deleted (to Adam) from weeks back - not with a pic though, just a regular message.  No idea why; I will admit it was OT, but no more OT than much of the stuff on here.  

Perhaps Theymos needs to save on his server space budget

[Ted E. Bare]

I also had my birthday message to Adam deleted! It was a nice message.

[spiderbrain]

Does anybody else keep getting posts deleted in this thread, some that were made months ago? Some kill joy is deleting all the rocket, moon, raining money gifs & pics I've made over time

But.. what? We've always been at war with East Asia!

[spiderbrain]

I also had my birthday message to Adam deleted! It was a nice message.

There are free forums out there, you know.

[spiderbrain]

Wow, such TA. We break out of the downward channel to transition to a wedge which we need to break out of in a few hours, ooooh.

[Paashaas]

My local Bitcoin dealer (Bitonic) is sold out again...everytime when they have a fresh new supply ..BANG.. all gone