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

[Last of the V8s]

... lots of good stuff about the cruel world snipped ...  bitcoin community ...

There really is no such thing. That's like saying 'http believers'. It's just a computer protocol, which more or less works.

Ah..i now see the problem. There is no community, instead there's religious lunatics?   I mean they're just believers aswell.


Anyway, as you said, if there is no real community, and if it's true, then I truly think that this is not in favor of the people. But if it's not for the people, then what's the point? I may aswell go back to the bankzters, and not go through all the trouble if it's gonna end up the same anyway.

Yuh it's not a socialist experiment, or a libertarian dream. It's a capital phenomenon - makes money real again.

With that comes responsibility and reputation - you won't last long if you're a dishonest bitcoin bank.

What trouble? Just buy and hold.

[BlindMayorBitcorn]

So I've decided to port myself into the Ethereum public chain as an ERC20 token.. Thoughts on this?

[Gyrsur]

So I've decided to port myself into the Ethereum public chain as an ERC20 token.. Thoughts on this?

https://themerkle.com/what-is-the-erc20-ethereum-token-standard/

https://theethereum.wiki/w/index.php/ERC20_Token_Standard

https://etherscan.io/token-search

[Icygreen]

Very nice pullback and epic battle over the bottom. Now hovering around 2515 on Stamp, I'm expecting some sideways movement and some smaller corrections for a day or 2 until the 2550 wall can be chewed through. Maybe that will get pulled but I'd welcome some sideways confidence through the weekend.
Not that I trust goldman sachs but they were accurate so far in calling the movement before it happened. http://www.coindesk.com/goldman-sachs-bearish-bitcoin-price/  
Battleground to 2600, popcorn ready!

[r0ach]

But I would disagree that their is no community.

In the same way, it can be said that Goldbugs or Silverbugs are a community.  Same can be said with communities that form around other private money like the Totnes pound.

If you click on bitcoin vs precious metals youtube videos, for bitcoin it's all about trying to smash and grab some pump and dump profits, while metals talk is usually more forward thinking and pragmatic:

[buwaytress]

Very nice pullback and epic battle over the bottom. Now hovering around 2515 on Stamp, I'm expecting some sideways movement and some smaller corrections for a day or 2 until the 2550 wall can be chewed through. Maybe that will get pulled but I'd welcome some sideways confidence through the weekend.
Not that I trust goldman sachs but they were accurate so far in calling the movement before it happened. http://www.coindesk.com/goldman-sachs-bearish-bitcoin-price/  
Battleground to 2600, popcorn ready!

Yeah, I was just commenting on a separate thread on that Sachs report - guess I was hoping to see them fall flat on their face, but if any traders followed that instinct, they'd be already making a first solid gain now. Then again, it was apparently tough to buy any BTC during the 2100 tanking as major exchangers experienced outages.

[Torque]

But I would disagree that their is no community.

In the same way, it can be said that Goldbugs or Silverbugs are a community.  Same can be said with communities that form around other private money like the Totnes pound.

If you click on bitcoin vs precious metals youtube videos, for bitcoin it's all about trying to smash and grab some pump and dump profits, while metals talk is usually more forward thinking and pragmatic:

Lol r0ach. That's bullshit. All I see are PM bugs whining about "When is the Financial collapse or Apocalypse finally going to come so the stack I'm sitting on (and losing money on btd) will go to da moon?!?!?"

So many of them now are butt hurt because a) they got caught up in the precious metals FOMO buying of 2011 and now they are sitting on a loss, and b) see Bitcoin and other cryptocurrencies moving up in price

[BlindMayorBitcorn]

So I've decided to port myself into the Ethereum public chain as an ERC20 token.. Thoughts on this?

https://themerkle.com/what-is-the-erc20-ethereum-token-standard/

https://theethereum.wiki/w/index.php/ERC20_Token_Standard

https://etherscan.io/token-search

Hehe. Thx.

 

Here's what the world is saying about our thing: Bitcoin and an Imminent Fork – The Aftermaths

The hard fork and the creation of 2 different coins can markedly affect the price of both BTC and BTU. Imagine that all of a sudden the coin supply doubles; this will definitely pull price downwards. Also Bitcoin Unlimited is supported by Roger Ver, a bitcoin entrepreneur that is claimed to own around 300,000 bitcoins, bitcoin.com and a large number of influential bitcoin domains. Ver can influence the popularity of BTU, via using bitcoin.com as a marketing tool, because, to the public, bitcoin.com might seem like an official bitcoin portal.
To support BTU, Ver can dump his BTC to drive its price to very low levels. Definitely, moving 300,000 BTC into the market in a short period of time can cause a disastrous price crash. Even more, Ver will not be the only one selling his BTC, as there are numerous BTU supporters who would also want to dump their BTC for the same reason. On the other side of the picture, as BTC supporters will also receive equal amounts of BTU, they might try to do the same by dumping their BTU coins.

[droizs]

So I've decided to port myself into the Ethereum public chain as an ERC20 token.. Thoughts on this?

https://themerkle.com/what-is-the-erc20-ethereum-token-standard/

https://theethereum.wiki/w/index.php/ERC20_Token_Standard

https://etherscan.io/token-search

Hehe. Thx.

 

Here's what the world is saying about our thing: Bitcoin and an Imminent Fork – The Aftermaths

The hard fork and the creation of 2 different coins can markedly affect the price of both BTC and BTU. Imagine that all of a sudden the coin supply doubles; this will definitely pull price downwards. Also Bitcoin Unlimited is supported by Roger Ver, a bitcoin entrepreneur that is claimed to own around 300,000 bitcoins, bitcoin.com and a large number of influential bitcoin domains. Ver can influence the popularity of BTU, via using bitcoin.com as a marketing tool, because, to the public, bitcoin.com might seem like an official bitcoin portal.
To support BTU, Ver can dump his BTC to drive its price to very low levels. Definitely, moving 300,000 BTC into the market in a short period of time can cause a disastrous price crash. Even more, Ver will not be the only one selling his BTC, as there are numerous BTU supporters who would also want to dump their BTC for the same reason. On the other side of the picture, as BTC supporters will also receive equal amounts of BTU, they might try to do the same by dumping their BTU coins.

You don't even know what you are quoting, talking about BTU lol. You guys stop spreading FUD if you didn't even know the basics.

[BlindMayorBitcorn]

[Pajulapoiss]

Actually what LotV8s said is a little misleading. It's true that at it's core, Bitcoin can be seen as just another technology that works, like the internet.

But I would disagree that their is no community. For a form of good money to be seen as 'valuable' among a growing group of individuals across the world, there has to be belief. Belief that it (Bitcoin) is more valuable than other forms of money, or at least as valuable. It's a bottom-up, voluntary approach. Hence: a community of like-minded individuals forms around that money. Call it a tribe, call it whatever you want, but it's still a community.

In the same way, it can be said that Goldbugs or Silverbugs are a community.  Same can be said with communities that form around other private money like the Totnes pound.

Fiat currency has no community, because individuals are forced to use it by their respective governments for most things. It's a top-down forced approach.

Well said!

But it's a bit of a sad, not to say greedy tribe, if the only thing that connects the people in it is only about, well money basically .
True that it's users are volunteerily signing up to it, but think what kind of people does such an understanding of Bitcoin attract?

Now what if people heard about bitcoin as a part of a bigger movement, a push for a better life for all on this tiny specle in the middle of nothingness. A  cornerstone in a part of a bigger arsenal of apps to use for braking the damn shackles once and for all. I mean - it's a ever-growing innovation that is happening, who knows where we'll end up in 5 - 10 y time.

It's here and now: whether the future will be again for the corrupt & greedy, or for the people.

Yuh it's not a socialist experiment, or a libertarian dream. It's a capital phenomenon - makes money real again.

With that comes responsibility and reputation - you won't last long if you're a dishonest bitcoin bank.

What trouble? Just buy and hold.

Yes we can take it as a capital phenomenon, which itself  isn't a bad or a good thing.

Trouble as getting the coins, paying fees, feeling some stress about it and u can't help but notice the uncertainty of future decisions. So is there any value left on my account after August?

Where can I read more about who are the people making decisions about bitcoin future? I think it does come down to their worldviews, counciesness and awareness really.

[Dabs]

If you claim that the latest bitcoins you bought are the ones you sold (and either claim a loss or a small profit).... How do you plan to declare the previously bought bitcoins if you ever need to sell them for banking fiat in the future?

I mean, if you do that you are basically claiming the latest bitcoins you bought are the first/only ones you got. You could have a hard time later proving you had some more when you yourself declared you don't.

Or maybe canadian law is different in this specifics.

Uh.... he's got lots of paper wallets. Pick the oldest one, then sweep some or all of it to a new paper wallet 1 to 2 weeks before you actually need to exchange it. When you finally exchange it, it's only 1 week old, declare capital gains or losses as appropriate.

A good idea in this scenario is to constantly move your paper wallets to new paper wallets every month.

[BlindMayorBitcorn]

I should think if he ever wants to cash out to buy property he'll likely want a record of when the coins were purchased. Just showing up with hundreds of thousands in Bitcoins raises those sorts of questions.

[Dabs]

I should think if he ever wants to cash out to buy property he'll likely need a record of when the coins were purchased. Just showing up with hundreds of thousands in Bitcoins raises those sorts of questions.

He "purchased" them 2 months ago. It says right here on the block explorer. "Value at time of transaction."

[BlindMayorBitcorn]

I should think if he ever wants to cash out to buy property he'll likely need a record of when the coins were purchased. Just showing up with hundreds of thousands in Bitcoins raises those sorts of questions.

He "purchased" them 2 months ago. It says right here on the block explorer. "Value at time of transaction."

Ok, where did he get hundreds of thousands of dollars 2 months ago? Drugs? (It was probably drugs.)

Hold please..

[Dabs]

I should think if he ever wants to cash out to buy property he'll likely need a record of when the coins were purchased. Just showing up with hundreds of thousands in Bitcoins raises those sorts of questions.

He "purchased" them 2 months ago. It says right here on the block explorer. "Value at time of transaction."

Ok, where did he get hundreds of thousands of dollars 2 months ago? Drugs? (It was probably drugs.)

Hold please..

It's turtles all the way down ...

I'm sure he can think of something. This part is best left to your imagination. The drug guys and organized crime have been doing it for years. Or you could mix it up and use your crypto to buy PMs (like gold or silver) from a reputable site then sell those to a PM dealer local to you. (Big transactions will get recorded.)

[BlindMayorBitcorn]

I should think if he ever wants to cash out to buy property he'll likely need a record of when the coins were purchased. Just showing up with hundreds of thousands in Bitcoins raises those sorts of questions.

He "purchased" them 2 months ago. It says right here on the block explorer. "Value at time of transaction."

Ok, where did he get hundreds of thousands of dollars 2 months ago? Drugs? (It was probably drugs.)

Hold please..

It's turtles all the way down ...

I'm sure he can think of something. This part is best left to your imagination. The drug guys and organized crime have been doing it for years. Or you could mix it up and use your crypto to buy PMs (like gold or silver) from a reputable site then sell those to a PM dealer local to you. (Big transactions will get recorded.)

It's certainly turtles.

It's becoming common in Silicon Valley, for example, to make large purchases like property with Bitcoin. If you can prove you bought early and hodl'd them it makes it easier. Paper wallets make excellent records.

[Torque]

I'm sure he can think of something. This part is best left to your imagination. The drug guys and organized crime have been doing it for years. Or you could mix it up and use your crypto to buy PMs (like gold or silver) from a reputable site then sell those to a PM dealer local to you. (Big transactions will get recorded.)

Or, you know, you could always just say that you got your bitcoin from Mt. Gox. Or from Cryptsy. Or from [insert any other exchange that disappeared here]. How would they know otherwise?

[Dabs]

And I just remembered that JimboToronto is in Canada, where I have it from reliable sources that in a nation with hundreds of thousands of immigrants annually, some of them, with no credit history or record at all, buy properties in the millions of dollars, in cash. Because they can't get a mortgage or a home loan.

The realtors don't ask questions, after all, they have already landed. (In fact, even non residents can own property, as long as they pay.)

I heard a story about this wealthy Chinese, moved to Canada, bought a large plot of land with a house in it (even though he did not like the house), demolished the house, and put up a new one that looks the way he wants it to look (like a Chinese temple or something, all bright red and that, yes, it's the stereotype too.) Cash.

When I say cash, I actually mean guaranteed funds, bank wire, bank draft, certified cheque, or the equivalent of a giant money order.

The Big Five in Canada, they don't ask questions when you open a brand new account with them, use your passport as identification and deposit a few million dollars.

I think Jimbo's problem is, he doesn't like using the banking system there, so he probably literally has to have the cash. And he's been there for awhile ...

[Torque]

The realtors don't ask questions, after all, they have already landed. (In fact, even non residents can own property, as long as they pay.)

I heard a story about this wealthy Chinese, moved to Canada, bought a large plot of land with a house in it (even though he did not like the house), demolished the house, and put up a new one that looks the way he wants it to look (like a Chinese temple or something, all bright red and that, yes, it's the stereotype too.) Cash.

So much for China's yearly capital controls, har har. Of course the wealthy always know a way to grease the wheels.