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

[pfrtlpfmpf]

From a certain point on, there´s no such thing, as "bad" publicity (ask Michael Jackson and his underage boys).
Previously, Mt. Gox killed us. Now, it just brings us into the news, Btc-e, what? One, among many exchanges !
Before, they carried around suitcases of millions USD for crimes, now they do it with BTC, so what ?

Makes no difference, Bitcoin is here to stay ! Any good currency will be used for crime too.
I would declare crime illegal, not currencies . . .

Man, we´re going to explode after 1. August, where did i keep my "exploding suit", guys ?

[Torque]

Man, we´re going to explode after 1. August, where did i keep my "exploding suit", guys ?

When everyone keeps saying this because everyone is thinking this, it won't happen.

[pfrtlpfmpf]

Man, we´re going to explode after 1. August, where did i keep my "exploding suit", guys ?

When everyone keeps saying this because everyone is thinking this, it won't happen.

Ok. i "jinxed" it. But i´m small, so not to much weight in it 

[jojo69]

I wouldn't touch fractional reserve paper metals.  I could type all kinds of stuff about it, but one of the more problematic examples is that they will be forced to revalue metals in the near future and when said event happens, they will settle everyone's GLD account into fiat USD spot price first and immediately revalue right after, so basically a confiscation in practice.  Paper metals are 100% useless.
.

I know we are arguing and all, but 100% with you here

[r0ach]

Man, we´re going to explode after 1. August, where did i keep my "exploding suit", guys ?

When everyone keeps saying this because everyone is thinking this, it won't happen.

Most people buying bitcoins nowadays know absolutely nothing about whether it does or doesn't have some type of fundamentals (doesn't for decentralization or scaling).  

This is the bitcoin market:

[BTCtrader71]

Man, we´re going to explode after 1. August, where did i keep my "exploding suit", guys ?

When everyone keeps saying this because everyone is thinking this, it won't happen.

Ok. i "jinxed" it. But i´m small, so not to much weight in it 

Don't worry, I'll super-reverse jinx it. You see, I'm kind of a big deal * ...

So let me go on record as saying that come August 1, the bitcoin price will crash. Why? umm, 'cause ... what roach said.

* lol

[pfrtlpfmpf]

Man, we´re going to explode after 1. August, where did i keep my "exploding suit", guys ?

When everyone keeps saying this because everyone is thinking this, it won't happen.

Most people buying bitcoins nowadays know absolutely nothing about whether it does or doesn't have some type of fundamentals (doesn't for decentralization or scaling).  

This is the bitcoin market:

Fundamentals, pff. It´s about what people believe in, illogical or not, which drives the price.
Look at your (our) Gold and Silver, goes nowhere, except in full "Systemcrash"-scenario, and i don´t have the time, nor the desire for that . . .
Whereas bitcoin has a usecase, NOW.

[d_eddie]

Bitcoin, like any so-called crypto currency, is the old like world scheme of Ponzi. Only in the new high-tech pack.

Want an example? You are welcome:

1. Assume that all people in the world convert half of their savings from ordinary national currencies to crypto-currencies. What does it mean? This means that the producers of crypto-currency, received half of the world's volume of national currencies - half of the total world currency bascet.

Right, the producers. You go to the factory and buy freshly produced bitcoins. The used ones are worth much less (around 50%, depending on how used up they are).

2. After a while, the fictitious value of investments in crypto-currencies increased 4-fold (as we see in the case of Bitcoin and the mass of other crypto-currencies). What does it mean? This means that now, every person in the world, reasonably expects to receive in exchange for his crypto currency (as a return on his genius) in 4 times more volume of the national currency.

3. Let's assume that all these people, at the same time, decide to fixed their investment profit-to exchange their crypto-currencies that went up four times, (if they take profit in the form ordinary national currencies).
All of them expect to receive now 4 times more national currency than they used to, they spent on buying crypto-currencies.

QUESTION: Where does this whole currency come from? From producers or producers of crypto-currency? But they simply do not have such volumes of ordinary currency, and never were. Because, previously selling the Crypto currency, in exchange for the usual currency, the organizers and the receivers only received the initial value of the crypto currency in the usual currency. Which was at the time of the transaction only - 1/4 of the amount of currency, which is now payable to all owners of the crypto currency.

The national currency comes from national producers. It's a different factory. You go to this national factory if you want national currency.

CONCLUSION: Bitcoin, like any so-called crypto currency, is the old world scheme of Ponzi. Where each participant can receive a gain of the investments only one way - due to those new participants who have entered this pyramid later.

Actually, it's only that those who get to the bitcoin factory first, get to choose the best pieces. Later customers are treated worse by the producers at the bitcoin factory - they get the irregularly minted, lopsided, defective coins. However, this problem will be fixed: BIP200 already promises to deal with quality control at the factory, so no need to worry.

/s

TL;DR It's the holders, not the producers. Early adopters do have an advantage. If float (measured in USD) gets 4x, by definition it means that every holder will get 4x fiat when bartering btc against USD. Hm, as long as all holders don't want to barter on the same day: the producers of USD need a little extra time to print more if necessary.

[JimboToronto]

Heard this one before. Heard it in 2014, after the market had peaked.

                             and held for two and a half years
                                /
People that bought ^  that peak now have 150% profit!

FTFY

Not a bad return on your investment over 2.5 years. 60% per annum? Can't complain about that.

And that's the worst case scenario. There's never been a deeper long-term dip, and it's never taken as long to recover.

[steelboy]

Another solid nights sleep followers by a nice jump in price. Again very surprised BTC-E has just been shrugged off completely. Seems bullish to me.

[olseh]

Another solid nights sleep followers by a nice jump in price. Again very surprised BTC-E has just been shrugged off completely. Seems bullish to me.

Bitcoin always seems to do the opposite of what you expect it to do... it can be a cruel mistress

[BitThink]

Bitcoin, like any so-called crypto currency, is the old like world scheme of Ponzi. Only in the new high-tech pack.

Want an example? You are welcome:

1. Assume that all people in the world convert half of their savings from ordinary national currencies to crypto-currencies. What does it mean? This means that the producers of crypto-currency, received half of the world's volume of national currencies - half of the total world currency bascet.

2. After a while, the fictitious value of investments in crypto-currencies increased 4-fold (as we see in the case of Bitcoin and the mass of other crypto-currencies). What does it mean? This means that now, every person in the world, reasonably expects to receive in exchange for his crypto currency (as a return on his genius) in 4 times more volume of the national currency.

3. Let's assume that all these people, at the same time, decide to fixed their investment profit-to exchange their crypto-currencies that went up four times, (if they take profit in the form ordinary national currencies).
All of them expect to receive now 4 times more national currency than they used to, they spent on buying crypto-currencies.

QUESTION: Where does this whole currency come from? From producers or producers of crypto-currency? But they simply do not have such volumes of ordinary currency, and never were. Because, previously selling the Crypto currency, in exchange for the usual currency, the organizers and the receivers only received the initial value of the crypto currency in the usual currency. Which was at the time of the transaction only - 1/4 of the amount of currency, which is now payable to all owners of the crypto currency.

CONCLUSION: Bitcoin, like any so-called crypto currency, is the old world scheme of Ponzi. Where each participant can receive a gain of the investments only one way - due to those new participants who have entered this pyramid later.

If half the world is using cryptocurrency, is there any possibility that people still need to convert their cryptocurrency to fiat before they can use it?

[becoin]

I told ya yesterday. Shorts will get REKT.

[Last of the V8s]

so, to catch myself up and make sure i'm understanding right:

there's a group forking an altcoin (bitcoin cash) come august 1st. this bumps the block limit to 8 MB. any other changes?

what happened to bitcoin unlimited? are they a part of this BCC split?

just when i finally verify my account at bitstamp all this shit has to be going on... sigh.

bitcoin cash: dodgy and deceitful coders, no segwitz, more hardforkz of itself in the offing - many sources for this evaluation on twitter, sorry, can't be arsed

bu: cosying up to nchain for another similar altcoin of bitcoin in the offing? big blocks etc. https://nchain.com/en/media/nchain-completes-workshop-bitcoin-unlimited-announces-support-bitcoin-scaling-initiatives/

stamp: famously (@kakobrekla) works on '2 cans and bits of string'. plenty of scope for brave traderz right now, though...


EDIT: https://bitcointalk.org/index.php?topic=2050936.0 https://www.reddit.com/r/Bitcoin/comments/6pxs4p/sipas_schnorr_code_deleted_from_secp256k1_emerged/dkt1w0y/
~answers your other question. Yes the same coupla dodgy ''coders'' from bitcoin unlimited are now working on bitcoin cash, and are being lambasted all over the shop


NOTE TO ALL: ^ that thread is very helpful infos re getting BCC moneyz after they fork off

[Spaceman_Spiff]

Bitcoin, like any so-called crypto currency, is the old like world scheme of Ponzi. Only in the new high-tech pack.

Want an example? You are welcome:

1. Assume that all people in the world convert half of their savings from ordinary national currencies to crypto-currencies. What does it mean? This means that the producers of crypto-currency, received half of the world's volume of national currencies - half of the total world currency bascet.

2. After a while, the fictitious value of investments in crypto-currencies increased 4-fold (as we see in the case of Bitcoin and the mass of other crypto-currencies). What does it mean? This means that now, every person in the world, reasonably expects to receive in exchange for his crypto currency (as a return on his genius) in 4 times more volume of the national currency.

3. Let's assume that all these people, at the same time, decide to fixed their investment profit-to exchange their crypto-currencies that went up four times, (if they take profit in the form ordinary national currencies).
All of them expect to receive now 4 times more national currency than they used to, they spent on buying crypto-currencies.

QUESTION: Where does this whole currency come from? From producers or producers of crypto-currency? But they simply do not have such volumes of ordinary currency, and never were. Because, previously selling the Crypto currency, in exchange for the usual currency, the organizers and the receivers only received the initial value of the crypto currency in the usual currency. Which was at the time of the transaction only - 1/4 of the amount of currency, which is now payable to all owners of the crypto currency.

CONCLUSION: Bitcoin, like any so-called crypto currency, is the old world scheme of Ponzi. Where each participant can receive a gain of the investments only one way - due to those new participants who have entered this pyramid later.

Wow, my mind is blown! Such genius !

Now replace the word crypto with stock market and try to figure out where you went wrong...

[rjclarke2000]

What would be the reasoning for the argument that btc will rise after August 1st?

Is this as people will sell BCC for BTC?

What am I missing here?

Thanks.

[Ludwig Von]

Bitcoin, like any so-called crypto currency, is the old like world scheme of Ponzi. Only in the new high-tech pack.

Want an example? You are welcome:

1. Assume that all people in the world convert half of their savings from ordinary national currencies to crypto-currencies. What does it mean? This means that the producers of crypto-currency, received half of the world's volume of national currencies - half of the total world currency bascet.

2. After a while, the fictitious value of investments in crypto-currencies increased 4-fold (as we see in the case of Bitcoin and the mass of other crypto-currencies). What does it mean? This means that now, every person in the world, reasonably expects to receive in exchange for his crypto currency (as a return on his genius) in 4 times more volume of the national currency.

3. Let's assume that all these people, at the same time, decide to fixed their investment profit-to exchange their crypto-currencies that went up four times, (if they take profit in the form ordinary national currencies).
All of them expect to receive now 4 times more national currency than they used to, they spent on buying crypto-currencies.

QUESTION: Where does this whole currency come from? From producers or producers of crypto-currency? But they simply do not have such volumes of ordinary currency, and never were. Because, previously selling the Crypto currency, in exchange for the usual currency, the organizers and the receivers only received the initial value of the crypto currency in the usual currency. Which was at the time of the transaction only - 1/4 of the amount of currency, which is now payable to all owners of the crypto currency.

CONCLUSION: Bitcoin, like any so-called crypto currency, is the old world scheme of Ponzi. Where each participant can receive a gain of the investments only one way - due to those new participants who have entered this pyramid later.

Wow, my mind is blown! Such genius !

Now replace the word crypto with stock market and try to figure out where you went wrong...

And in anyway, fiat is reproducable without limit, so the inflow into crypto can go eternally... .

[marcus_of_augustus]

So how you guys liking that back-and-forth wash trading?

Feels just like a groundswell of overwhelming public demand, doesn't it?  At this rate we'll be over $5K in no time!  /s

Still wash trading?

Or your butt-hole starting to pucker up on those shorts?

[marcus_of_augustus]

Most people buying bitcoins nowadays know absolutely nothing about whether it does or doesn't have some type of fundamentals ...

This is the bitcoin market:

You are the worst kind of idiot roach because you know enough to be a danger to yourself and everyone around you but clueless to the limits of your knowledge, unwilling to acknowledge any such limits and brimming with self-conviction in your tiny bubble of wisdom, surrounded by a universe of ignorance that you are in complete denial of.

You've totally over-thought this and somehow managed to be smack in the epicenter of intelligence for the biggest bull market humanity has ever known ... and conclusively missed it through your own arrogance. You will go down in history as one of the biggest losers ever, in all sense of the word ... right up there with jstolfi.

Buy bitcoins, it really is that simple, even for a fucking dimwitted drooling retard like you.

[Last of the V8s]

jasus look at all these secret lemonade drinkers: https://www.bitcoinunlimited.info/about/members

solex
Andrew Clifford
President
Andrew Stone
theZerg
Lead Developer
Dr. Peter Rizun
Peter R
Secretary / Chief Scientist
Andrea Suisani
sickpig
Key Developer
Peter Tschipper
Key Developer
Rogerver
Roger Ver
CEO Bitcoin.com / BU member
Dr. Christopher Wilmer
chriswilmer
University Liaison
Haipo Yang
Haiyang
CEO ViaBTC / BU member
Jerry Chan
digitsu
Strategist
deadalnix
Amaury Sechet
Mengerian
Antony Zegers
Christoph Bergmann
Emil Oldenburg
jake
Jake Smith
Lee Adams
mike
Mike Malley
Roy Badami
bitcartel
Simon Liu
tim potter
Tim Potter
dgenr8
Tom Harding
Trevin Hofmann
adamstgbit
AdrianX
awemany
Bagatell
cliff
cryosanth
CubicEarth
cypherdoc
freetrader
Helvetian616
jbreher
jcliff
Jefferson Nunn
jl777
jsmith_dev
kostialevin
kyuupichan
lunar
marcus
norway
rezzme
Richy_T
Roger_Murdock
sgbett
tkg
todu
torusJKL
VeritasSapere
Wildfire.ca
Windowly
YarkoL
Zanglebert Bingledack

is this list up to date?

isn't it time you people renounced the devil or something?