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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21529701 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (142 posts by 32 users deleted.)
r0ach
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May 29, 2017, 09:44:49 AM
Last edit: May 29, 2017, 09:54:59 AM by 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).
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May 29, 2017, 09:55:09 AM

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.
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May 29, 2017, 10:09:14 AM

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.
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May 29, 2017, 10:20:07 AM

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.
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May 29, 2017, 10:33:01 AM

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.
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May 29, 2017, 10:38:23 AM

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  Roll Eyes Go figure.
orpington
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May 29, 2017, 11:08:56 AM

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  Roll Eyes Go figure.

This "imminent backwardation" story is getting pretty old and tired.
LFC_Bitcoin
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May 29, 2017, 11:25:00 AM

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 Cheesy
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May 29, 2017, 11:39:03 AM

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?
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May 29, 2017, 11:39:13 AM
Last edit: May 29, 2017, 06:03:12 PM by 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 Cheesy

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 Wink
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May 29, 2017, 11:55:54 AM

I also had my birthday message to Adam deleted! It was a nice message. Angry
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May 29, 2017, 12:07:38 PM

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 Cheesy

But.. what? We've always been at war with East Asia!
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May 29, 2017, 12:08:14 PM

I also had my birthday message to Adam deleted! It was a nice message. Angry
There are free forums out there, you know.
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May 29, 2017, 12:09:50 PM

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.
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May 29, 2017, 12:21:22 PM

My local Bitcoin dealer (Bitonic) is sold out again...everytime when they have a fresh new supply ..BANG.. all gone  Shocked  Cool
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May 29, 2017, 12:23:57 PM

Is bitcoin decentralized? Yes.
Does bitcoin have value? Yes.
fluidjax
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May 29, 2017, 12:31:17 PM

Now that's a fine perspective:



A summary of James Turk's useless predictions.

http://www.dvdbeaver.com/Gary/gold/james_turk.htm
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May 29, 2017, 12:36:49 PM
Last edit: May 29, 2017, 01:33:09 PM by toknormal


What about what Risto was saying that we need a red candle this week for the market to stay healthy ?

I wish that we finish the week lower than the previous. Because 7 or more weekly greens is danger zone.

But it looks to me like we've only had 4 green weekly candles in a row - strictly speaking - but maybe he's dismissing the April 13th one as not significant enough.

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May 29, 2017, 12:50:31 PM


What about what Risto was saying that we need a red candle this week for the market to stay healthy ?

I wish that we finish the week lower than the previous. Because 7 or more weekly greens is danger zone.

But it looks to me like we've only had 4 green weekly candles in a row - strictly speaking - but maybe he's dismissing the April 13th one as not significant enough.



where have you got this from ?

when i check the charts at bitcoinwisdom (bitstamp weekly candles) there are 6 fat green candles in a row and the 7th is in the making.
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May 29, 2017, 12:55:31 PM


where have you got this from ?

when i check the charts at bitcoinwisdom (bitstamp weekly candles) there are 6 fat green candles in a row and the 7th is in the making.

Cryptowatch.

https://cryptowat.ch/bitstamp/btcusd

(Switch to 1W in the little pop-down menu at left end of top toolbar). They probably just have different reference days for the start of the week, so shows you it's really arbitrary whether we have 7 green candles or not.
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