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

[marcus_of_augustus]

The oligarchs had the opportunity to negotiate with the hippies.  They had the opportunity to negotiate with the punks.  The next time the children come they will be nihilistic cannibals.  There will be no negotiation.  They will be coming to destroy civilization, not to reform it.

The boomers whiled it away on big screen TVs and motorboats while this all got set up, they will get what is coming to them.

... and Harley Davidsons, don't forget the mid-life crises Harleys. Their nihilistic cannibal kids will be riding Harleys to destroy civilisation ... Mad Maxian Harleys is the future.

[conspirosphere.tk]

Your parents don't fund pensions. Come back when you find out who does. In fact, come back when you find out who looted all the public pension funds and why $4.5T in unfunded liabilities is already gone and can't be paid.

That's the matter: they designed a caste system where they get back much more that they paid in, because their debt is guaranteed by "future generations" (who will get nothing beyond their debts). Now this can be "normal" in the sense that any generation enslaved the following in one way or another since the beginning of time, and it can be also democratic (because the boomers tend to be a majority -especially as voters), but it's a system of shit, which for me can go to hell in a basket tomorrow morning. Even: the sooner it blows up the better.

[duke944]

Guys, look at the mess the global economy is in then look at robotics and artificial intelligence set to destroy 40% of current jobs in the next 10 years. Ffs buy guns and ammo, this shit will get real pretty soon and nobody is going to care how many bits of corn you have on your 'puter.
I've had some to drink tonight it's true, but the future is fucking terrifying.

[jojo69]

waaaaaay ahead of you duke, good luck compadre

[Torque]

Your parents don't fund pensions. Come back when you find out who does. In fact, come back when you find out who looted all the public pension funds and why $4.5T in unfunded liabilities is already gone and can't be paid.

That's the matter: they designed a caste system where they get back much more that they paid in, because their debt is guaranteed by "future generations" (who will get nothing beyond their debts). Now this can be "normal" in the sense that any generation enslaved the following in one way or another since the beginning of time, and it can be also democratic (because the boomers tend to be a majority -especially as voters), but it's a system of shit, which for me can go to hell in a basket tomorrow morning. Even: the sooner it blows up the better.

Systems like pensions and social security in theory sound great on paper. And they are supposed to work OK in practice.... as long as 1) the currency isn't massively devalued over time, and 2) the oligarchs are not allowed to 'borrow' (aka loot) from those systems with the promise of future IOUs to pay them back (which they never will do).

You can blame the government for that shit. These systems should just be abolished because they've been hijacked by the elites.

[conspirosphere.tk]

You can blame the government for that shit. These systems should just be abolished because they've been hijacked by the elites.

when you will get adult you will discover that no one is innocent. There are no victims, only accomplices.

[d_eddie]

$4.5T in unfunded liabilities is already gone and can't be paid.

More like $107 trillion.
http://usdebtclock.org/
And that's just the USA.

Sad thing is we're falling into the same trap with segwit and off-chain scaling. Right back into the bankers hands. There'll be barely a hickup during the transition to a "Bitcoin"-based economy. What a joke.

What do you mean, same trap? Can you explain? Fractional reserve is impossible with LN, and anyone can set up a channel by locking the collateral. Seems like a fresh start.

[Torque]

when you will get adult you will discover that no one is innocent. There are no victims, only accomplices.

Lol, I am adult. Very adult. Adults don't have a much of a choice,at least in the U.S. they get to vote on some two-party local reps and a presidential candidate from a field of two. The two presidential candidates of which have already been groomed and pre-selected by the Wealthy Elite Oligarchy so it's not much of a choice. There's a third option (Libertarian candidate) that some of us vote for, but never seems to get more than 3% of the vote.

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

[bones261]

when you will get adult you will discover that no one is innocent. There are no victims, only accomplices.

Lol, I am adult. Very adult. Adults don't have a much of a choice,at least in the U.S. they get to vote on some two-party local reps and a presidential candidate from a field of two. The two presidential candidates of which have already been groomed and pre-selected by the Wealthy Elite Oligarchy so it's not much of a choice. There's a third option (Libertarian candidate) that some of us vote for, but never seems to get more than 3% of the vote.

Maybe you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

Not a French Revolution style revolt please. I want to keep my head.

[Torque]

Not a French Revolution style revolt please. I want to keep my head.

If you are not a wealthy Oligarch banker then you have nothing to worry about. 

[Elwar]

The boomers will have a troubled retirement.

I won't let my folks suffer obviously, but my old man is as bad as any of them from a political-economic perspective. The fact that they don't know just does not excuse what they have done. Results matter in the adult world.

I read an article recently that said that the boomers are very worried about retirement. That they should have somewhere in the neighborhood of $600K+ saved, but that even the most savvy of them only have like $200K saved. Most have far less saved or nothing.

I keep thinking, what the hell were they doing with their money all those years? Why weren't they investing in stocks back when times were really good and the markets were flying high on real fundamentals?

Good god, to go back to the 80's and heavily invest in Microsoft or Apple....

My mother is retired. When she talks to her accountant the advice he gives her is to not live too long.

[BTCtrader71]

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

How about this time around, instead of destroying the status quo with all kinds of violence and figuring that the rest will take care of itself (like what George Bush tried to do in Iraq), we start out building and testing the better system. That's actually the beauty of the crypto revolution: we are building decentralized money and decentralized forms of governance first. Testing them out, one step at a time. When they are really working, there will be no need for a violent revolution. Existing systems will crumble under their own weight (e.g.: Venezuela) and better, decentralized systems will be already in place to take up the slack.

No need for war. Please.

[Ibian]

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

How about this time around, instead of destroying the status quo with all kinds of violence and figuring that the rest will take care of itself (like what George Bush tried to do in Iraq), we start out building and testing the better system. That's actually the beauty of the crypto revolution: we are building decentralized money and decentralized forms of governance first. Testing them out, one step at a time. When they are really working, there will be no need for a violent revolution. Existing systems will crumble under their own weight (e.g.: Venezuela) and better, decentralized systems will be already in place to take up the slack.

No need for war. Please.

The next war is always on the way. Peace is just a temporary situation.

[Elwar]

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

How about this time around, instead of destroying the status quo with all kinds of violence and figuring that the rest will take care of itself (like what George Bush tried to do in Iraq), we start out building and testing the better system. That's actually the beauty of the crypto revolution: we are building decentralized money and decentralized forms of governance first. Testing them out, one step at a time. When they are really working, there will be no need for a violent revolution. Existing systems will crumble under their own weight (e.g.: Venezuela) and better, decentralized systems will be already in place to take up the slack.

No need for war. Please.

I see seasteads as the next revolution in testing better governance systems. I am working in this sector and crypto is playing a huge role.

[Torque]

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

How about this time around, instead of destroying the status quo with all kinds of violence and figuring that the rest will take care of itself (like what George Bush tried to do in Iraq), we start out building and testing the better system. That's actually the beauty of the crypto revolution: we are building decentralized money and decentralized forms of governance first. Testing them out, one step at a time. When they are really working, there will be no need for a violent revolution. Existing systems will crumble under their own weight (e.g.: Venezuela) and better, decentralized systems will be already in place to take up the slack.

No need for war. Please.

Sorry, I didn't mean to imply that war was the only way to have a revolution. In this day and age you are correct, since financial warfare is now a far greater power than physical warfare, cryptocurrencies have shown us a new path forward.

We don't need to tear down the old corrupt system physically (through violence), we simply need to find financial ways and means to opt out of it completely. Then it will crumble.

But, sadly if worse came to worse, yes we would need to physically revolt to re-establish our god-given and constitutional freedoms. <sigh> Hopefully it would never come to that.

[BTCtrader71]

Perhaps you mean all-out revolution? Well, I'm pretty sure that in the U.S. that is coming soon. Likely a French Revolution style revolt. Many here would be all-in on that.

How about this time around, instead of destroying the status quo with all kinds of violence and figuring that the rest will take care of itself (like what George Bush tried to do in Iraq), we start out building and testing the better system. That's actually the beauty of the crypto revolution: we are building decentralized money and decentralized forms of governance first. Testing them out, one step at a time. When they are really working, there will be no need for a violent revolution. Existing systems will crumble under their own weight (e.g.: Venezuela) and better, decentralized systems will be already in place to take up the slack.

No need for war. Please.

I see seasteads as the next revolution in testing better governance systems. I am working in this sector and crypto is playing a huge role.

So many things need to be built. This is an exciting time people!

I see decentralized reputation systems as a fascinating problem and a necessary ingredient for better governance systems. It will be built on top of decentralized identity which is just starting to become a reality.

[r0ach]

so dont worry people, bitcoin will always go up.

lets go guys, lets buy more!!

This is why bitcoin is scary now.  There's all kinds of trailer park people and penny stock scam artists all over youtube and other venues that have no idea how bitcoin works (or is supposed to work but doesn't) spamming nonsense like this constantly.  Although Marcus is somewhat technically proficient and also pushes the same delusions, that the price can only go up and it's impossible to go down lol.

[JayJuanGee]

I systematically sell about 1% of my holdings for every 10% rise in price, and I buy back in similar amounts.

Is not very little profit?

I don't think the profit amount is too little.  I think that there is a much greater risk to try to guess the direction of the market... and too much stress too, when you try to guess.

I mean in the beginning when I was selling in the upper $200s and etcetera all the way up, the amount of money that I was accumulating and preparing for downside seemed to be so small, but the amount continued to go up and add up as the price was rising, so 1% of $3000 coins is a lot more than 1% of $300 coins.  10s more.... hahahahaha.. and with my system the BTC amount had continued to build, too, even though I had been selling and then buying back.

So, even though I currently have 92% bitcoin and 8% cash, I still have quite a few more bitcoins than when I started, and I really feel flush with cash, and kind of like I am really prepared to buy all the way down to $1500, if needed.

I guess my problem is that I continue to want to accumulate, and I always felt more comfortable sleeping in bitcoin rather than cash, so I never want to sell too many my bitcoins, even though the amount in cash kept building up - even though it tends to be in the less than 10% arena, and then still I feel like I have way too much cash, so I am definitely prepared to buy on the way down.  But I could just decide to take some of that cash completely out, and that would be o.k. too.  So, my point is that having a system adds up to accumulation of both bitcoin and cash, and makes you feel a lot more comfortable and prepared for those sometimes unexpected, uncomfortable and seemingly extreme and inevitable corrections.

Hey JJG with all your cash just think of how many BCH you could buy.

GOSH!!!!   


I cannot imagine using my actual cash to buy BCH, especially since I (just like a lot of the other folks participating in this thread) was already issued a bunch of it. 

To me, it seems good to unload a sizeable chunk of my issued BCH - even though I might hang onto a small amount of it.

Maybe I could hold onto somewhere between 5% and 20% of what I was issued?  Possibly?  Have to play it by ear regarding the exact BCH holding quantity, but I cannot really imagine any kind of realistic scenario in which I would want to hold onto more than 20%.

[jbreher]

Fractional reserve is impossible with LN

Ha. Hahaha. Hahahahahahahahaha!

You've obviously thought through how the system will naturally evolve.

[jbreher]

Not a French Revolution style revolt please. I want to keep my head.

If you are not a wealthy Oligarch banker then you have nothing to worry about. 

Once the bloodlust of the guillotine takes hold, the backing behind the wealth matters none. To an impoverished rabble rouser, one enriched on a permissionless, uncensorable, peer to peer currency is indistinguishable from a vampire squidlet.

Tl;dr careful what you wish for.