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

[r0ach]

That 'market share' isn't coming back. Crypto has diverged for good no matter how shitty or wobbly the different paths are.

It's because the noble metals are the most suitable thing for use as money on earth, and of those noble metals, gold was the best choice since it doesn't react with oxygen.  Another noble metal is then needed to increase granularity of gold to prevent counter party risk, and silver is the only good candidate there.  

This means there is a functional Schelling point for gold and silver as money, while in cryptocurrency there is actually a REVERSE Schelling point where people are incentivized to branch out and create new ones in order to try and get windfall early adopter profit.  Nobody is able to just walk out and invent a new noble metal, so this doesn't happen there and the Schelling point of gold and silver is preserved.

[1713973497]

1713973497

[BlindMayorBitcorn]

I think 2800 is about how much we could get from the asianz. 3000 will have to wait a little while.

or maybe the rest of the world will appear in drive the price above $3000 soon, who knows

Yes, never underestimate the "rest of the world" ! You wish !

Istanbul is Constantinople. They might buy some.

[r0ach]

"Kraken Raises Bitcoin Withdrawal Transaction Fees to $7"

lol, fuck this rent seeking usury system.  

It's going to be interesting to see how many blockchain cheerleaders are left when the transaction fees are like $50 and all transactions are faith based off-chain.  The Gavinator did once say high fees are a great problem to have but I don't think he had this in mind.  Another thing that's always amused me about bitcoin is how they renamed Orwellian police state where all transactions are traced and monitored to "blockchain" and suddenly people thought it was cool.  What's up with that?

[Meuh6879]

Bubble.











Consolidation.












Consolidation + SegWit + LN = (Double Bubble).




And this begin on 1st August.
We will broke the moon.

[julian071]

If you're here to make money with BTC, don't miss the Byteball airdrop tomorrow.
You can get 0.065GB per BTC you own, that's already 52 USD value and there will be others airdrops.
You just need to sign a message with your BTC wallet.
See: https://bitcointalk.org/index.php?topic=1608859.0

Thx brah

[Meuh6879]

And remember, 2017 ... it's this, first :

[Iranus]

When are they going to decide? Bitcoin is losing a ton of market share https://www.forbes.com/sites/laurashin/2017/06/07/bitcoin-is-at-an-all-time-high-but-is-it-about-to-self-destruct/#286ea0a0cb31

That 'market share' isn't coming back. Crypto has diverged for good no matter how shitty or wobbly the different paths are. Different people are now doing different things under one very tenuous umbrella that should be abandoned. Anyone who didn't expect this is a silly sausage.

This is a good article on why "BTC domination %" on marketcap doesn't even matter:

https://medium.com/bitcoinfoundation/the-bitcoin-dominance-indicator-fallacy-2b11093869d4

Yes it does.  Market cap is a terrible indicator of Bitcoin's dominance, but in this particular case it's accurate enough to say that people now care about ETH and several other cryptocurrencies.

To use arguments like "name me one merchant that uses ETH.  You can't.", is meaningless.  Bitcoin has very few merchants relative to the total amount, and it wouldn't be so difficult for ETH to have that low-level adoption as well considering the amount of work that people are putting into it.


A limited supply of Bitcoin is not the same as a limited supply of gold.  There are only so many scarce physical objects to use, but there are an unlimited number of cryptocurrencies that can be created, and cryptocurrency-related tokens (ETH).  So I can't see anything continuously staying relevant unless it's really deeply rooted in the world or it's superior to all alternatives in the eyes of the public.

[Jantapw]

If BTC hardfork...
then how will we send btc payments or do btc transactions ?

[White sugar]

If BTC hardfork...
then how will we send btc payments or do btc transactions ?

if the chain is split then there will be the legacy and one or more other chains that will be like altcoins

the legacy chain won't be changed, at least in the protocal

[FractalUniverse]

if the chain is split then there will be the legacy and one or more other chains that will be like altcoins

It sounds like if they are about to create another litecoin(s) only this time with bitcoin somewhere in the name.

such wow  

[savetherainforest]

I easily won my bet of btc passing 2k by the beginning of March. Now I'm setting up another side bet with the same person on the over under of btc hitting 3k by the end of this month. I have to choose this time because he took the under on the last bet. I'm torn because I'm thinking the under but I would prefer to lose the bet and haveit surpass 3k by end of June

It will go over 3k ... but I would advise the other person to stop betting against going down, because its going up! And you should know that everything under $5k is a dip till the end of this year!

[ARTISTCOLONY]

I easily won my bet of btc passing 2k by the beginning of March. Now I'm setting up another side bet with the same person on the over under of btc hitting 3k by the end of this month. I have to choose this time because he took the under on the last bet. I'm torn because I'm thinking the under but I would prefer to lose the bet and haveit surpass 3k by end of June

It will go over 3k ... but I would advise the other person to stop betting against going down, because its going up! And you should know that everything under $5k is a dip till the end of this year!

$3000 is inching up closer then $5000 = new ceiling

[Dexter770221]

Altcoins don't give up:
https://videocardz.com/newz/first-look-at-pascal-based-gpu-cryptocurrency-mining-station

Just... LOL

[Wa(t)ch_night()]

I easily won my bet of btc passing 2k by the beginning of March. Now I'm setting up another side bet with the same person on the over under of btc hitting 3k by the end of this month. I have to choose this time because he took the under on the last bet. I'm torn because I'm thinking the under but I would prefer to lose the bet and haveit surpass 3k by end of June

It will go over 3k ... but I would advise the other person to stop betting against going down, because its going up! And you should know that everything under $5k is a dip till the end of this year!

$3000 is inching up closer then $5000 = new ceiling

Do you expect $ 5,000 more this year? Something I really Believe in this Exodus has found a job. Although I do not mind. But it seems to me that the rate will be a bit of a benefit and this has already been sounded many times by some predictions.

[Torque]

It's because the noble metals are the most suitable thing for use as money on earth

Scenario:
Apocalypse happens, but the worldwide internet still works.
But you and your family find yourself starving for food, about to die.
You have 10- 1oz. gold coins.
You meet a man on the street that has two chickens.
You ask to buy one of the chickens.
He asks you if you have some bitcoin.
You say you don't.
You then ask him how much gold would he take for one of the two chickens.
He says all 10 of your gold coins.
And you know what? If you're family is starving, you'll give him all of them or you will die.

Congrats, you just paid $13K for one meal for your family, and now you don't have any gold coins left.
Even if you haggled him down to just 1 coin, you still probably overpaid.

Yeah, gold is so perfect as a form of barter.  

[sidhujag]

"Kraken Raises Bitcoin Withdrawal Transaction Fees to $7"

lol, fuck this rent seeking usury system.  

It's going to be interesting to see how many blockchain cheerleaders are left when the transaction fees are like $50 and all transactions are faith based off-chain.  The Gavinator did once say high fees are a great problem to have but I don't think he had this in mind.  Another thing that's always amused me about bitcoin is how they renamed Orwellian police state where all transactions are traced and monitored to "blockchain" and suddenly people thought it was cool.  What's up with that?

Watch for a decentralized payment channel mechanism to ease your trolling concerns.

[sidhujag]

It's because the noble metals are the most suitable thing for use as money on earth

Scenario:
Apocalypse happens, but the worldwide internet still works.
But you and your family find yourself starving for food, about to die.
You have 10- 1oz. gold coins.
You meet a man on the street that has two chickens.
You ask to buy one of the chickens.
He asks you if you have some bitcoin.
You say you don't.
You then ask him how much gold would he take for one of the two chickens.
He says all 10 of your gold coins.
And you know what? If you're family is starving, you'll give him all of them or you will die.

Congrats, you just paid $13K for one meal for your family, and now you don't have any gold coins left.
Even if you haggled him down to just 1 coin, you still probably overpaid.

Yeah, gold is so perfect as a form of barter.  

Punch him in face and take it.. shtf so no cops around.

[lost_in_base]

INCOMING!

PREPARE FOR THE DUMP

[FractalUniverse]

INCOMING!

PREPARE FOR THE DUMP

now?
haha
i would be very surprised. charts are saying its going at least for retest of highs.

[JamStrong]

INCOMING!

PREPARE FOR THE DUMP

Im preparing for the dump on the moon