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

[r0ach]

bitcoin now:

Is it time for the bitcoin theme song?

http://www.youtube.com/watch?v=lwL3yP260AQ

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[Ted E. Bare]

Going for a higher low. This was it for the weekend. Bears had their fun...

[bitcrypto10101]

bitcoin now:

Is it time for the bitcoin theme song?

http://www.youtube.com/watch?v=lwL3yP260AQ

Are you dumping silver for cheaper BTC rebuy ?

[r0ach]

Are you dumping silver for cheaper BTC rebuy ?

What kind of fool would do that?  Silver is at cost of production or even below it for some miners.  Silver is a far better buy than BTC.  Next metals bull run will probably be gold $3000-3200, silver $90-120.  If there's some type of big economic event or lots of printing, gold $5000-ish, silver $166-$200.  If they're forced to revalue gold entirely in one act, gold will be set to $10-20k and silver will be astronomical.

[cgt99]

Enough of this shite.  lets go North for a change...

[bitcrypto10101]

Are you dumping silver for cheaper BTC rebuy ?

What kind of fool would do that?  Silver is at cost of production or even below it for some miners.  Silver is a far better buy than BTC.  Next metals bull run will probably be gold $3000-3200, silver $90-120.  If there's some type of big economic event or lots of printing, gold $5000-ish, silver $166-$200.  If they're forced to revalue gold entirely in one act, gold will be set to $10-20k and silver will be astronomical.

How much BTCs you hold  ?

[Dafar]

Are you dumping silver for cheaper BTC rebuy ?

What kind of fool would do that?  Silver is at cost of production or even below it for some miners.  Silver is a far better buy than BTC.  Next metals bull run will probably be gold $3000-3200, silver $90-120.  If there's some type of big economic event or lots of printing, gold $5000-ish, silver $166-$200.  If they're forced to revalue gold entirely in one act, gold will be set to $10-20k and silver will be astronomical.

LMAO


Another lunatic precious metal shill like cliff high. Hilarious stuff man, haven't learned your lesson since you bought up gold with ur BTC huh

[r0ach]

Are you dumping silver for cheaper BTC rebuy ?

What kind of fool would do that?  Silver is at cost of production or even below it for some miners.  Silver is a far better buy than BTC.  Next metals bull run will probably be gold $3000-3200, silver $90-120.  If there's some type of big economic event or lots of printing, gold $5000-ish, silver $166-$200.  If they're forced to revalue gold entirely in one act, gold will be set to $10-20k and silver will be astronomical.

Another lunatic precious metal shill like cliff high. Hilarious stuff man, haven't learned your lesson since you bought up gold with ur BTC huh

Cliff High is more of a lunatic btc shill than metals shill, or just a lunatic in general.  He was telling everyone to buy cloakcoin for fucks sake.

[Ludwig Von]

And yet, I am considering selling some gold for BTC.

[FractalUniverse]

cgt99> thats a nice cow

Are you dumping silver for cheaper BTC rebuy ?

What kind of fool would do that?  Silver is at cost of production or even below it for some miners.  Silver is a far better buy than BTC.  Next metals bull run will probably be gold $3000-3200, silver $90-120.  If there's some type of big economic event or lots of printing, gold $5000-ish, silver $166-$200.  If they're forced to revalue gold entirely in one act, gold will be set to $10-20k and silver will be astronomical.

and now imagine the price of bitcoin, if such  inflationary assets like metals reach $5-10k

[BlindMayorBitcorn]

And yet, I am considering selling some gold for BTC.

Forget gold. Everybody's all in buggy whips now. Those horse-drawn contraptions are coming back in a big way. The tarnation!

[r0ach]

and now imagine the price of bitcoin, if such  inflationary assets like metals reach $5-10k

I can tell you exactly what will happen.  First of all, the crypto market cap is currently higher than that of silver, so cryptocurrency is not some small cap item that will rise faster than anything else.
Secondly, people who have worked their entire lives to save up and then see the system melting down and their money vaporizing before their eyes are only going to be interested in the safest bet possible, and that is not cryptocurrency.  In event of crap hitting the fan, 90%+ of money taking flight is going to things like metals and then some money into other tangibles like property, cars, etc, like what happened in Venezeula/soviet union.

Shit hitting the fan is not really that beneficial to bitcoin due to the Joseph Tainter quote:

"Collapse is rapid simplification on a mass scale"

Things collapsing means bitcoin will be completely unusable rather than gaining some type of value.  The only reason a handful of people in Venezeula found any type of use in it is because they used it to buy from other nations that haven't blown up yet.  If the "west" implodes, you can't do that.

[Meuh6879]

their money vaporizing before their eyes are only going to be interested in the safest bet possible, and that is not cryptocurrency.

I like you.
But you don't understand the solution of P2P network.

P2P network are solutions for flux.
Precious metal are regulate since a long time now, look what paper contract can make on this assets.

You can't regulate P2P network.
All people from earth can use this network now, with phone and EDGE connexion.

And that why, the actual value of this 21 millions bitcoins (actually, 2 100 000 000 000 000 units) is not enough to prepare/create/build a new trust & value network.

We, The People, Build a trustnet.
https://www.youtube.com/watch?v=Rrj8sjHJthU

And when people isolate saving, they use ... somes tools to evaluate the potential of the escape plan :

[Mr Frog]

Cliff High is more of a lunatic btc shill than metals shill, or just a lunatic in general.  He was telling everyone to buy cloakcoin for fucks sake.

If you are interested in making money it was not a bad advice...

Cloackcoin: May 18th $0,38 - June 9th $3,65 - june 28th $10,30 - As for today $3,86

Do you have a coin for me that I can flip min x10 and even possibly x25 in 1,5/2 month ?

[protokol]

Are you dumping silver for cheaper BTC rebuy ?

What kind of fool would do that?  Silver is at cost of production or even below it for some miners.  Silver is a far better buy than BTC.  Next metals bull run will probably be gold $3000-3200, silver $90-120.  If there's some type of big economic event or lots of printing, gold $5000-ish, silver $166-$200.  If they're forced to revalue gold entirely in one act, gold will be set to $10-20k and silver will be astronomical.

Well that sounds very unrealistic to me. Especially considering the market caps of PMs and how much capital is needed to affect the price, the prices that you speak of (especially gold) would probably take years to reach those levels. The case with silver reaching nearly 10x its current price is more realistic due to its lower market cap, and its higher industrial value as a percentage of its worth (compared to gold), but still seems very unlikely to me.

The next few months will be an interesting time for bitcoin, and I'm sure we'll see some volatility, but the utility of bitcoin and other cryptos over PMs just make them a far better long term hedge IMO. For a non cryptocurrency investment I would be looking into property and land, over PMs.

That said, in the words of Wu-Tang Financial: "You need to diversify yo bonds, nigga"

[JayJuanGee]

The thread's back!

AAAAnd we still going "uppity", as JJG calls it.

Lovely. See you all in a year or so.

I don't know if I would term this particular situation as uppity.. but we are in an o.k. place in the longer view.

It is just difficult to suggest anyone take major moves - but surely guys think differently about this.

Of course, I have largely been in a buying status all the way down from $2980 - and we know that this has not been a direct journey too.  I have been buying in $50 increments during this time on 5 exchanges, so I likely had nearly 1000 sell orders execute and likely a bit more than 1100 buy orders... .. All those trades add up.  I am looking forward to the day, when I can buy and sell in $100 increments... We gotta get back above $3k first.  SOON^tm?

[d_eddie]

I would be against changing algo in Monero too, even if ASICs were devised, thing is, as the protocol stands ASICs are not impossible, it just won't be as good as Bitcoin's ASICs when you compare them to CPUs and GPUs mining SHA256.

I wouldn't be against ASICs if they were available in a commoditized market, like computers or GPUs are. The problem with ASICs as they are now is that it's a seller's market.

In the market as it is now, only one firm makes and sells ASICs. The same firm, or some subsidiary, also mines. This already smells bad as they compete with the other miners (their potential clients). When that firm produces a new, more powerful model, it doesn't get on the shelves immediately: first, the firm uses it to mine while the ASIC still is way ahead of the other hardware and has a strong competitive advantage. After a while, when the competitive edge is dulled, they'll sell the machine to selected clients (not just anyone), with the understanding that the client will "behave" or be excluded from the next sale.

An alternative PoW could help keep more balance - for example, one block every 4 (or 2, or 10) must use a memory-intensive PoW. This ratio could be dynamic, there are many possible strategies that could be tested. With a memory-heavy PoW, there's a lower bound to the cost of the chip which is the RAM it requires. If the required RAM were in the 4-8 GB per processor ballpark, building ASICs wouldn't be that cheap anymore.

[micalith]

last leg surely (for now)

[2017Bubble]

Double bottem they said... Hodl they said.. fake manipulation they said.. cheap coins they said..




I sodl at the right time fella's



Dumpage is real



Hammer time

[eiskalt]

OK dumpers, you stumbled over the $2000.

Now try harder and get you a bloody face at $1800!


Monday will be ...




UAS! UAS! UAS!