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

[bones261]

Yeah, not to mention that r0ach is only right about metal being non-debt based while it's sitting still.

But just try to move that metal as payment anywhere but to a bubba sitting right next to you, and transaction fees will be required.

And if you don't move it for payment (don't take possession), you introduce counter-party risk and re-hypothecation.

I suppose they could make a machine that checks out the coins/bullion for you. However, I am sure the makers of such machines will charge a pretty penny for said machine or tack on a small "fee" to rent for the use.

[r0ach]

I suppose they could make a machine that checks out the coins/bullion for you. However, I am sure the makers of such machines will charge a pretty penny for said machine or tack on a small "fee" to rent for the use.

They already exist.  You can also use free android phone apps and a ping test where the microphone can spot fake coins by resonance of the ping.  Hell, I can tell the difference between real or fake with my ear with ease.
There are also things like the specific gravity test.  It actually seems far easier to spot fake silver than fake gold because tungsten is EXTREMELY close to gold in the specific gravity test, while nothing to my knowledge is for silver, plus silver has several other unique traits gold doesn't.

See again with the fallacy...."they(metals) exist with no energy input" yes they exist on Earth but in order to retrieve them it costs (guess what?) MONEY!!ENERGY!!!CALORIES!!!

They are not debt based instruments because they require no rent or energy input greater >0 to exist at all while bitcoin is a debt based instrument.

[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.

[r0ach]

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.

http://www.zerohedge.com/

The Winklevoss are still mad at the jews and Larry Summers after facebook.  We could convince them to dump and destroy bitcoin while using the money to buy silver at the same time.  This would implode the bitcoin debt based usury system Larry Summers is trying to hoist on people, while also imploding banker's metals manipulation and sending silver to $100+ at the same time.  Profit while destroying your enemies in the process.  Win win.

[marcus_of_augustus]

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.

http://www.voy.com/64855/ ... funny things is they can't get enough about bitcoin on the thinking gold forums ... must really grate on roach that hehehe  

btw his debt-base doodoo is just some made up shit FUD that he likes to throw around recently, next week it'll be some more bitcoin BS FUDstering. On the whole roach is reflective of the extremely slow onboarding of the slower goldbugs. You can see the development of their thought processes as they go through all the old arguments and throw FUD up every time they think they've found the "flaw" in bitcoin ... it seems to good to be true to them.

But it isn't, it's just better than gold but not perfect. Perfect money probably only exists as an abstract concept, like Euclidian geometry. Useful as a concept for simplified analysis but will never exist in the real world. Even so, bitcoin is demonstrably better as a monetary instrument than gold on an overall analysis, each has it's own strengths and weaknesses but on balance bitcoin looks superior for the computer age. The free market for money will be the final arbiter of course.

[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!!!