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

[jbreher]

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.

I like this sentiment, and am hopeful that it is true.

[Torque]

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.

Roger Ver is 'an enriched on a permissionless, uncensorable, peer to peer currency' and I don't wish the guillotine on that clown.

Oh wait.   j/k

The point is, even a vampire squidlet like that jackhole enriched on the Bitcoin network can't gain control of the system and subvert it for his own personal gain. Well, we can all hope anyway. I guess we shall see how well the network holds up in the future.

[jojo69]

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.

This is my approach.  I did my time engaging the system directly.  Everybody should do it for a bit when they are young, but if you don't figure out how to disengage you end up impoverished, broken, and quite probably insane.  We all need to figure out how to take responsibility for our own keep, but this does not mean that we need to be complicit in our own enslavement.

I really urge you, my fellow bitcoiners, as we find ourselves with unaccustomed wealth, to resist the easy baubles of affluence.  Every time you buy a new thing you are putting energy into the machine.  Fix old things.  Employ people directly.  Develop your self sufficiency.  Productive land, heirloom equipment, sustainable water systems...these things are the real status symbols.

[TeeBone]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

[infofront]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I haven't sold either. Waiting to see how the price action develops.

[BlindMayorBitcorn]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I haven't sold either. Waiting to see how the price action develops.

I want to sell. I just find the whole thing so terribly inconvenient.

[fabiorem]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I didn't even retrieved it. Been eight days since I started synching bitcoin ABC in another system. Extremely slow.

I don't plan to sell it, will keep it since it have more potential for value than ether. But as soon as I retrieve it I will send to a exchange, can't keep a node on it, it's too slow.

[Heater]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

I sold all mine at the bottom, of course.

[Elwar]

I gave my niece 1 bitcoin for her birthday back in December 2013 (when the price was $900/BTC). Throughout the year I gave each of my nieces and nephews 1 bitcoin for their birthday, the first being about $50 and the last being about $1k.

My niece's mom, my sister, felt it was very generous when I gave it to her knowing the price (though I had paid about $20 each for the coins I gave away). But as the price fell over the next year my sister was soured of the whole bitcoin thing and kept asking me how to cash out the coin so she could put it in a CD or savings bond or whatever. I told her how but she could never figure it out (I had given her the private key in her birthday card). Finally last month she cashed it in and bought an iPhone.

The point of the gift was not the money but the gift of learning about Bitcoin and giving the kids first hand knowledge of how to use bitcoins. The parents keep wanting to jump in and "save" their kid from this crazy Internet money by selling it and putting it in the bank or spending it.

One nephew got it though. When the price went from $200 or so to $4-500 he said "if it went up that much, imagine how much it will be worth in a few years!".  I think my oldest nephew who is in college now probably spent his on drugs (or gift cards, who knows).

[Elwar]

Elwar, I gave my family small amounts of BTC in paper wallets in 2013 as well (I am the 'crazy uncle'). Knowing well that I was the only family member that was really interested, I kept the public/private keys copied for myself. Some of the wallets will have gone through the laundry/trash before they get remembered.

I kept the private keys as well (hmm...do I sell their BCH?).

When I was in town I showed my oldest nephew how to use it on Steam. He was pretty excited about it at that point.

[jojo69]

That got an actual laugh out of me...the nephew realizing that it would actually work on Steam...awesome!!!

[nanobtc]

I saw one of the nephews a week ago, he recently noticed current price.

Nephew: "OMG it's up a thousand percent".
Me: "It's up a lot more than that".

[savetherainforest]

Can we gas the kikes already, so i dont have to see these posts anymore.

Better Call R0ach! He's an expert!

[jojo69]

Can we gas the kikes already, so i dont have to see these posts anymore.

Better Call R0ach! He's an expert!

[ErisDiscordia]

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. 

You need to go back and study the French revolution some more. You could have been a revolutionary in 1789 and be accused of being a reactionary conservative in 1793 and get your head chopped off - without having changed your political opinions one bit. At that point wealth had nothing to do with ho gets killed.

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.

It is rare to see this sentiment articulated anywhere so I will just quote it and say how much I agree. Grow alternatives from the bottom up. If we smash the current status quo without alternative systems in place people will shy away from the chaos which ensues and call for the safe comforting strong hand of a dictator.

[savetherainforest]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

Too lazy and unmotivated to cash out. Will let it ride and see what happens.

I figured I'd dump as soon as Kraken started accepting BCH deposits, but decided against it for the time being.

Let's see how high they try to pump that crap.

I think bitcoin people are lazy people. Because they are smart AF!!!

[rjclarke2000]

So, who hasnt sold their BCH ? I havent, dunno why not. Gut's telling me hodl.

Too lazy and unmotivated to cash out. Will let it ride and see what happens.

I figured I'd dump as soon as Kraken started accepting BCH deposits, but decided against it for the time being.

Let's see how high they try to pump that crap.

I think bitcoin people are lazy people. Because they are smart AF!!!

I'd like to agree with this statement.

[ðºÞæ]

Looking at Bitcoins release schedule, I just can say scream get your Bitcoins organized
https://bitcointalk.org/index.php?topic=2019899.msg20734525#msg20734525

[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.

We're being herded back into communal pools. The Bitcoin blockchain allows individuals to remain independent. Segwit and second layers are like taps that will funnel off power away from the blockchain.

Ah, I see what you mean now.

Indeed, the second layer solutions we have today are akin to dealing with a bank: "I keep the books, that's to you, this I keep" and so on. These solutions are mostly used by exchanges (banks in their own way) after all. LN itself, however, is technically egalitarian in a way similar to bitcoin. Wanna open that channel? Lock 0.05 btc, ok, channel open. You can't transact more than those 0.05 on that channel. This is all I meant when I said fractional reserve is impossible.

[ghandi]

https://www.youtube.com/watch?v=ep4HtGgOdjw
This time bitcoin will split in two. No one can force core nodes to accept 2x part, no matter what miners do. For the price of BTC this is bad of course. The last pump was glorious indeed, but it still is a pump, not a real slow progression in price caused by an increased demand. Not at all! Chinese miners exploited the lack of sell walls in Saturday to pump it to 3K hoping the traders will continue the rise to 4K and then they will sell everything down to 2K again. This time I will cash out and wait until the end of the storm.  

Indeed i'm surprised that this Pullrequest hasn't got more attention. Disconnecting from SegWit2x Nodes doesn't sound good to me...