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

[deepcolderwallet]

This is very bullbish:

 https://www.forbes.com/sites/adamhartung/2017/08/15/a-bitcoin-is-worth-4000-why-you-probably-should-not-own-one/#62308c403b08

Come on!
How can a full retarded have a voice in a world famous magazine?

This is why almost none of us should own Bitcoins.  Bitcoin value has multiple weaknesses.  Someone could hack the blockchain, create more Bitcoins and manipulate the value, or sell the illegitimate Bitcoins and abscond with the buyers' dollars.  

And then the linked url to "hack the blockchain" takes the reader to

One of the Biggest Ethereum and Bitcoin Exchanges Got Hacked
Robert Hackett
Jul 05, 2017
Hackers have stolen user data and money from Bithumb, one of the top five biggest Ethereum and Bitcoin cryptocurrency exchanges, the company said Friday.

For the fucks's sake! The shitty exchange was hacked, NOT THE BLOCKCHAIN!
This ruminant asshole should be sued for spreading such a misinformation!

[BlindMayorBitcorn]

I'm in yer blockchain, haxx0ring yer coinz.

[bitserve]

I'm in yer blockchain, haxx0ring yer coinz.

I will sell you my illegitimate Bitcoins and abscond with yer dolla.

Ok, enough... stop making fun out of the guy, don't you see he is retarded?

[JayJuanGee]

And the price dip after the Winklevoss ETF denial was much more brief and more shallow than most ppl expected (unless I misremember), so yeah I suppose it would count.

I bought the top. $1200 by that time. Was one of my first big moves in Bitcoin. Had to wait 2 months to believe in it again. An eternity for someone who came from ForEx.

I bought at the top too in late November 2013.  $1,200 off of local bitcoins  1.24 BTC for $1,500.  I was not disgruntled by that event because I continued to buy about .1BTC per week for the next year or two, and by the the time, I began to sell(really trade) I had brought my average price per BTC down to $500-ish - and I was selling (trading) at $250 and higher from a conceptual BTC stash that I had acquired at a price that was below $250 for that portion of the stash.

Sure, I was disappointed by the nearly two year downtrend in BTC prices - however, such downtrend should not have been completely unexpected, especially since at the end of 2013, bitcoin had already gone through 2 exponential price curves - and through the combination of those two price explosions, it had gone up more than 100x... so it would be silly to be disgruntled by the downturn, or even to buy a whole bunch at the top and then not have a plan in order to attempt to bring down your cost per BTC or have some other reasonable strategy.

So could this be the same thing leading up to Aug 21? Yeah, I suppose it could. Although it doesn't seem to me that Aug 21 will be as big an event from a trading perspective as bip141 lock-in. The former is guaranteed (now), the latter was not until shortly before it happened.

It's not much revealing. BIP141 lock-in means nothing if a big mess occurs around 8 days from here and the real Bitcoin supported by Core gets the lesser share of hashrate.

What are the odds of hashpower not going towards segwit mining?  You really believe that miners want to kill the golden goose and take chances on some kind of pie in the sky unproven approach  of attempting some renegade fork of mining power?  Could happen, sure.. lot's of speculation about this, but what are the odds? would such 51% attack be sustainable - especially if only coming from miners and no one follow their dumbasses?

[jojo69]

Ok, enough... stop making fun out of the guy, don't you see he is retarded?

please...differently abled   

[JayJuanGee]

Ugh..
Meuh... You know that since your failed Monarchy-Thread experiment I'm not really a fan of you. But sincerely... Lady Starks is an ugly beast compared to the hot teenager V8 introduced me (virtually).

ah leave him alone everything worked out in the end.

also on closer inspection i think i confused her with some other kid. she seems quite er old enough. my mistake. carry on...

I think that Meuh is really great as a poster in this thread and other threads.. much better than his attempt to be a possible WO thread leader...  but pretty low bar there, no? 

[JayJuanGee]

And the price dip after the Winklevoss ETF denial was much more brief and more shallow than most ppl expected (unless I misremember), so yeah I suppose it would count.

I bought the top. $1200 by that time. Was one of my first big moves in Bitcoin. Had to wait 2 months to believe in it again. An eternity for someone who came from ForEx.

So could this be the same thing leading up to Aug 21? Yeah, I suppose it could. Although it doesn't seem to me that Aug 21 will be as big an event from a trading perspective as bip141 lock-in. The former is guaranteed (now), the latter was not until shortly before it happened.

It's not much revealing. BIP141 lock-in means nothing if a big mess occurs around 8 days from here and the real Bitcoin supported by Core gets the lesser share of hashrate.

What big mess are you talking about? SW has been thoroughly tested, unlikely to cause problems.

I suppose you're referring to the fact that bitcoin core 0.15.0 will be disconnecting nodes which run segwit2x but I can't find when that's supposed to happen ...

an August 1, 2018 disconnection according to discussion in this post, and then discussion in the linked github article.

https://www.reddit.com/r/Bitcoin/comments/6sbacg/bitcoin_core_0150_will_automatically_disconnect/

[Torque]

This is very bullbish:

 https://www.forbes.com/sites/adamhartung/2017/08/15/a-bitcoin-is-worth-4000-why-you-probably-should-not-own-one/#62308c403b08

Come on!
How can a full retarded have a voice in a world famous magazine?

Another fkn idiot author going with the Dutch Tulip comparision again. But ironically, there are exactly zero articles on the web comparing the SNAP IPO stock to Dutch tulips. Because that would be a pretty dead-on accurate comparison.

Hmmm... maybe I should write one?

Also notice that the more Bitcoin's price soars, the more these negative articles hit the web. They'll be screaming "tulip bulbs" all the way up to 200K. The next two decades will be hilarious.

[spiderbrain]

This is very bullbish:

 https://www.forbes.com/sites/adamhartung/2017/08/15/a-bitcoin-is-worth-4000-why-you-probably-should-not-own-one/#62308c403b08

I'm not saying bitcoin can only go up from here, but we will enjoy laughing at Adam Hartung some day. He obviously has no idea how bitcoin works, and hasn't bothered to talk to anyone who does.  

[Elwar]

This is very bullbish:

 https://www.forbes.com/sites/adamhartung/2017/08/15/a-bitcoin-is-worth-4000-why-you-probably-should-not-own-one/#62308c403b08

Come on!
How can a full retarded have a voice in a world famous magazine?

Another fkn idiot author going with the Dutch Tulip comparision again. But ironically, there are exactly zero articles on the web comparing the SNAP IPO stock to Dutch tulips. Because that would be a pretty dead-on accurate comparison.

Hmmm... maybe I should write one?

Also notice that the more Bitcoin's price soars, the more these negative articles hit the web. They'll be screaming "tulip bulbs" all the way up to 200K. The next two decades will be hilarious.

It sucks that understanding Bitcoin also involves a 2 month market movement on some speculation that happened a few hundred years ago.

The fact that they always have to bring up that small window of the market means they are trying to push an agenda and had to search all of history to find something that fit their narrative.

[bitserve]

This is very bullbish:

 https://www.forbes.com/sites/adamhartung/2017/08/15/a-bitcoin-is-worth-4000-why-you-probably-should-not-own-one/#62308c403b08

Come on!
How can a full retarded have a voice in a world famous magazine?

Another fkn idiot author going with the Dutch Tulip comparision again. But ironically, there are exactly zero articles on the web comparing the SNAP IPO stock to Dutch tulips. Because that would be a pretty dead-on accurate comparison.

Hmmm... maybe I should write one?

Also notice that the more Bitcoin's price soars, the more these negative articles hit the web. They'll be screaming "tulip bulbs" all the way up to 200K. The next two decades will be hilarious.

Wanna know when they will stop comparing with Tulip Bulbs? When they also own some Bitcoin. As simple as that.

[AlexGR]

You'll note that these guys always talk about tulips. At the same time they always ignore what might be considered irrational market behavior for ultra-rich hobbies like art collection of multi-million dollar pieces, at insane values...

http://money.cnn.com/2016/02/19/luxury/ken-griffin-david-geffen-de-kooning-jackson-pollock/index.html

300 mn USD painting...

https://en.wikipedia.org/wiki/L%27Homme_au_doigt

140 mn USD sculpture...

You add a few of those and you are in the tens of billions range. But no, that's not tulips, that's art "deserving" billions. Right.

[sirazimuth]

This is very bullbish:

 https://www.forbes.com/sites/adamhartung/2017/08/15/a-bitcoin-is-worth-4000-why-you-probably-should-not-own-one/#62308c403b08

As soon as I read tulips, I was like, ok here we go again with another  bitcoin ignoramus writing about bitcoin. Then he just goes full retard
with his blockchain hack nonsense. How do these frikkin morons end up with these gigs anyway? At least a commenter called him out
with this gem ...."im kinda surprised Harvard spit out a moron like you,then again maybe I shouldn't be...."

  I concur.....

[bitserve]

You'll note that these guys always talk about tulips. At the same time they always ignore what might be considered irrational market behavior for ultra-rich hobbies like art collection of multi-million dollar pieces, at insane values...

http://money.cnn.com/2016/02/19/luxury/ken-griffin-david-geffen-de-kooning-jackson-pollock/index.html

300 mn USD painting...

https://en.wikipedia.org/wiki/L%27Homme_au_doigt

140 mn USD sculpture...

You add a few of those and you are in the tens of billions range. But no, that's not tulips, that's art "deserving" billions. Right.

That's a pretty fucking good argument there.

[Elwar]

You'll note that these guys always talk about tulips. At the same time they always ignore what might be considered irrational market behavior for ultra-rich hobbies like art collection of multi-million dollar pieces, at insane values...

http://money.cnn.com/2016/02/19/luxury/ken-griffin-david-geffen-de-kooning-jackson-pollock/index.html

300 mn USD painting...

https://en.wikipedia.org/wiki/L%27Homme_au_doigt

140 mn USD sculpture...

You add a few of those and you are in the tens of billions range. But no, that's not tulips, that's art "deserving" billions. Right.

Exactly. There are thousands of years of rational market examples. Cherry picking a small sliver of time in some remote small country that had a market crash after a few months is pretty desperate. Why not point out the follies of the great depression or Black Monday? Or the market collapse in 2009? At least those are more recent and had a larger affect on the economy.

[Torque]

https://en.wikipedia.org/wiki/L%27Homme_au_doigt
140 mn USD sculpture...

A shittily cast bronze rendition of Slender Man for 140 mn? Wow, high end art is so weird.

I've seen Egyptian hand sculptured/painted statues and other relics that are far more worthy of that kind of money. At least many of them reflect the actual amount of tedious and detailed work effort that went into making them.

[DaRude]

https://en.wikipedia.org/wiki/L%27Homme_au_doigt
140 mn USD sculpture...

A shittily cast bronze rendition of Slender Man for 140 mn? Wow, high end art is so weird.

I've seen Egyptian hand sculptured/painted statues and other relics that are far more worthy of that kind of money. At least many of them reflect the actual amount of tedious and detailed work effort that went into making them.

You can always get this https://en.wikipedia.org/wiki/Black_Square_(painting) for just 60mln

[bitserve]

https://en.wikipedia.org/wiki/L%27Homme_au_doigt
140 mn USD sculpture...

A shittily cast bronze rendition of Slender Man for 140 mn? Wow, high end art is so weird.

I've seen Egyptian hand sculptured/painted statues and other relics that are far more worthy of that kind of money. At least many of them reflect the actual amount of tedious and detailed work effort that went into making them.

I am not quite sure how couldn't I make an almost exact replica of that sculpture. Maybe r0ach, as an expert on melted metals could enlighten us.

[AlexGR]

https://en.wikipedia.org/wiki/L%27Homme_au_doigt
140 mn USD sculpture...

A shittily cast bronze rendition of Slender Man for 140 mn? Wow, high end art is so weird.

I think some of the ultra-rich are just perverse. They like the idea that they are so filthy rich that they can somehow assign value to art through their money - and preserving a large part of their wealth by doing so, because once something has been sold for the X amount, a kind-of "market price" precedent has been set.

You can see this in meaningless art. You can even see it in ...SHIT:

https://en.wikipedia.org/wiki/Artist%27s_Shit

"In August 2016, at an art auction in Milan, one of the tins sold for a new world record of €275,000, including auction fees."

Yes, they can literally pump the price of shit and pretend it's art. They can even mock the mockery of the "art-is-shit" meaning, by giving extra value to the shit. We are talking about pretty high levels of perversion.

[jojo69]

oh man...to sell this next test of 4433 or not??

a conundrum