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

[r0ach]

btw his debt-base doodoo is just some made up shit FUD

Nice lying Marcus, but you know it's 100% true and not so called "FUD".  Bitcoin is a rent seeking usury system that introduces middlemen where middlemen should not exist.

I will repeat my statement again since you don't seem to understand why bitcoin is invalid as a settlement layer:

The point is you are not REQUIRED to expose yourself to any 3rd party middlemen using metals as a settlement layer like in bitcoin (the miners who demand rent).  The energy input >0 required at all times for bitcoin to exist at all makes it a debt based system in practice. Metals are not a rent seeking vortex, they exist with no energy input; they're not a debt based system.  You cannot use a debt based system as the base settlement layer.  It's completely absurd to even suggest it.

[BitcoinPC]

btw his debt-base doodoo is just some made up shit FUD

Nice lying Marcus, but you know it's 100% true and not so called "FUD".  Bitcoin is a debt based usury system.

The wall Observer is a nice project and it serves a purpose. However there is nothing new that is needed to be said about it. The thread should be used for the the original announcement only. If there is new information it should be shared only. That will stop people from coming in and saying stupid things just to get attention.

[orpington]

Average joes are stupid, they don't have an opinion. And you can certainly bet that they won't suddenly start buying bitcoins when the halving comes.

The only purpose of Bitcoin is a hedge against legacy financial systems imploding.  If they were stable and functioned, there would be no reason to switch.  Since the legacy financial systems are mathematically doomed, a good bit of transfer of wealth is likely to move to Bitcoin.  You're basically front running the transfer before the average Joe is forced to change, like in Venezuela how they became super interested in Bitcoin as their currency implodes.

[r0ach]

Average joes are stupid, they don't have an opinion. And you can certainly bet that they won't suddenly start buying bitcoins when the halving comes.

The only purpose of Bitcoin is a hedge against legacy financial systems imploding.  If they were stable and functioned, there would be no reason to switch.  Since the legacy financial systems are mathematically doomed, a good bit of transfer of wealth is likely to move to Bitcoin.  You're basically front running the transfer before the average Joe is forced to change, like in Venezuela how they became super interested in Bitcoin as their currency implodes.

You quoted the "dump the dollar and buy anything but the dollar" trade.  Both the dollar and bitcoin are rent seeking usury schemes, but the dollar is loaned into existence so it requires infinite growth to not collapse for servicing the interest when combined interest is always higher than the principal.  

Since demographics have peaked in every nation that matters, and energy return on investment is also cratering, growth is over and the dollar is mathematically doomed unless interest rates are perma set to 0 or negative. Bitcoin doesn't require infinite growth to exist, all it requires is some greater fools, so it can outlive the dollar, but it's still a rent seeking usury scheme with built in middlemen while metals are not.

[Elwar]

This has been me all summer.


Friend: Hey I guess I should have listened to you this whole time when you told me to buy bitcoins, good for you. Can I ask you a question?

Me: Sure (thinking: ok, time to point him to a bitcoin exchange finally)

Friend: I've been reading about this new up and coming cryptocurrency <insert alt here>, do you think I should invest in this new coin?

Me: *facepalm*

[bzzard2]

https://image.prntscr.com/image/4No5MA5kQDuJpSt9YJA-cw.jpeg

someone sure wants dem bitcoins

[PoolMinor]

[imghttps://image.prntscr.com/image/4No5MA5kQDuJpSt9YJA-cw.jpeg[/img]

someone sure wants dem bitcoins

Actually they probably just want to sell them for a higher price.

[r0ach]

Actually they probably just want to sell them for a higher price.

Maybe you will get to sell a bitcoin or two at a higher price.  Maybe not.  Eventually the ghost of Ron Paul will come calling to haunt you daring to participate in unsound money:

http://www.youtube.com/watch?v=u-8kmPJKGgM

[marcus_of_augustus]

[imghttps://image.prntscr.com/image/4No5MA5kQDuJpSt9YJA-cw.jpeg[/img]

someone sure wants dem bitcoins

Actually they probably just want to sell them for a higher price.

... yeah someone has plonked $12 million down to bid up bitcoin so he can get more fiat ...  

[Elwar]

[imghttps://image.prntscr.com/image/4No5MA5kQDuJpSt9YJA-cw.jpeg[/img]

someone sure wants dem bitcoins

Actually they probably just want to sell them for a higher price.

... yeah someone has plonked $12 million down to bid up bitcoin so he can get more fiat ...  

Someone?

With such well distributed bids it has to be several people. It's not like one person poorly made it look like there are several bidders. 

[infofront]

This has been me all summer.


Friend: Hey I guess I should have listened to you this whole time when you told me to buy bitcoins, good for you. Can I ask you a question?

Me: Sure (thinking: ok, time to point him to a bitcoin exchange finally)

Friend: I've been reading about this new up and coming cryptocurrency <insert alt here>, do you think I should invest in this new coin?

Me: *facepalm*

Hahaha. I've had those same conversations. I've sort've been the bitcoin guy in my circles. I've had more people ask me about the coin who shall not be named over the last few months than have asked me about bitcoin in the last couple years.
I guess a lot of people think they missed the boat on BTC, so they're looking for the next big thing.

[PoolMinor]

[imghttps://image.prntscr.com/image/4No5MA5kQDuJpSt9YJA-cw.jpeg[/img]

someone sure wants dem bitcoins

Actually they probably just want to sell them for a higher price.

... yeah someone has plonked $12 million down to bid up bitcoin so he can get more fiat ...  

https://bitcointalk.org/index.php?topic=1512965.0
https://bitcointalk.org/index.php?topic=1512965.msg15222331#msg15222331

I would think after all these years of watching walls, you of all people would understand what they represent.

Elwar commented on that very thread about it 2 posts later.

Edit:
My guess would be they are gathering up large sums of fiat on their short positions they are opening. Getting ready for the weekend dumping.

[quetschiquetsch]

Hey gang. I have no life and have run out of things to do in my mom's basement.

Does anyone know of a good gold speculation forum I can go to and talk about bitcoin all day? The only reason I would do it is that I have no life. I have no interest at all in gold but I think they would appreciate me talking about bitcoin in a place where they go to discuss gold.

Any help would be appreciated.

Hahaha, yeah.
But the difference is, many "goldsters" are interested in BitCoin and most of them like to discuss it. On the other side, I was really thinking of buying some gold and silver (just for diversifying the portfolio) but this pointless flaming of roach is getting me away from it  
I wonder why it even does anything to me, but most of his statements are so off the road, I don´t know if laughing, crying or just feeling ashamed for him is my inner reaction  . Certainly it makes gold and silver unsympathetic (which it propably shouldn´t, because he shares somehow inconsiderable statements, they shouldn´t even be a "pro" or "con" anything)

Concerning the walls: How to get in the market once you want to buy big amounts of BTC? Propably by not building up that massive walls, but you might fill up the bid side anyhow, right?

[Elwar]

Hey gang. I have no life and have run out of things to do in my mom's basement.

Does anyone know of a good gold speculation forum I can go to and talk about bitcoin all day? The only reason I would do it is that I have no life. I have no interest at all in gold but I think they would appreciate me talking about bitcoin in a place where they go to discuss gold.

Any help would be appreciated.

Hahaha, yeah.
But the difference is, many "goldsters" are interested in BitCoin and most of them like to discuss it. On the other side, I was really thinking of buying some gold and silver (just for diversifying the portfolio) but this pointless flaming of roach is getting me away from it 
I wonder why it even does anything to me, but most of his statements are so off the road, I don´t know if laughing, crying or just feeling ashamed for him is my inner reaction  . Certainly it makes gold and silver unsympathetic (which it propably shouldn´t, because he shares somehow inconsiderable statements, they shouldn´t even be a "pro" or "con" anything)

I agree, I used to be huge in favor of gold and silver. If I had an easy way to store it and was settled down somewhere I would have some. But Roach's constantly pushing it is like a used car salesman trying to get rid of his inventory at an overvalued price.

[edgar]

im in agreement here, r0ach should be engaged to clarify his oft-repeated claims but the facts are much more simple..

gold & silver are cumbersome at best, and subject to outright confiscation at worst.

even cash above a certain amount is viewed as suspect and therefore open for theft by govt proxy.

for me, gold is nothing more than an emergency back up like a bag of candles or waterproof matches in the event of an 'unforeseen' catastrophy.

and sadly, in my personal experience, when catastrophe strikes - the gold shops pull down their shutters and sit inside with the lights off for as long as it takes for 'disaster' to pass.

ive experienced this twice. with literal hordes of metal holding persons congregating outside with literally nothing to do other than wait.

to vilify cryptocurrencies at this early point in the game is absolute folly if not downright paid-for dishonesty!

Literally ANYONE listening to this blatant and years long FUD is committing financial suicide.

what has gold done since 2009?

what has crypto done since 2009?

Finally - try using gold ANYWHERE, to do ANYTHING...

The singular place you can get cash for it in a genuine emergency is 'cash4gold' rip off merchants who offer the scrap value for even bullion bars.

hold both, pray you never run out of either.

and DYODDFFS!!!

[Elwar]

I'm thinking the person putting in the $12 million worth of bids is trying to win the ATH thing and collect the .25 BTC.

Rigged!

[Ludwig Von]

I'm thinking the person putting in the $12 million worth of bids is trying to win the ATH thing and collect the .25 BTC.

Rigged!

 ;)shhhhhhhh

[Elwar]

[imghttps://image.prntscr.com/image/4No5MA5kQDuJpSt9YJA-cw.jpeg[/img]

someone sure wants dem bitcoins

Actually they probably just want to sell them for a higher price.

... yeah someone has plonked $12 million down to bid up bitcoin so he can get more fiat ...  

https://bitcointalk.org/index.php?topic=1512965.0
https://bitcointalk.org/index.php?topic=1512965.msg15222331#msg15222331

I would think after all these years of watching walls, you of all people would understand what they represent.

Elwar commented on that very thread about it 2 posts later.

Edit:
My guess would be they are gathering up large sums of fiat on their short positions they are opening. Getting ready for the weekend dumping.

Looks like he is walking it up just like a classic whale pump and dump.

[fragout]

I'm thinking the person putting in the $12 million worth of bids is trying to win the ATH thing and collect the .25 BTC.

Rigged!

$15 million now and it is one guy or group as the stairway of walls are moving up with the price at the same time.

btw Is this type of thing ever done in the stock market. I know it would take a much larger investment or are there some rules in place to prevent this type of manipulation?

[ivomm]

1000 BTC buy wall at 2800 at Bitfiniex... Only Kraken is sleeping...