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

[yermom]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

If it's possible in one way, then the opposite is also factible.
My 0.02 BTC

[pete777]

People here are too optimistic. I am long time holder but I am not some dreamer.. You cannot destroy bitcoin, that`s true. But you can ban or heavily regulate exchanges. You still need FIAT, value of bitcoin is presented in $,€... so if you cannot exchange your bitcoins for fiat, what do you have? Can you buy food, pay bills, pay for your phone with BTC? Pay your medical bills?

[realr0ach]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

If it's possible in one way, then the opposite is also factible.
My 0.02 BTC

Lol, no.  If it's possible to create a centralized digital currency, there is no scientific law that states it's mandatory a decentralized one be possible.  This is not yin and yang.

[ParabellumLite]

... governments hate to lose control..

Yep - the people that they are supposed to represent don't like losing control too much either.

Bitcoin will become a political issue - that is, decentralised global peer to peer cash will become a political issue. Being as how no-one is controlling bitcoin, it seems like a difficult argument for TPTB to win.

Question is, which governments will lose the least by regulating favourably for bitcoin ?

Agreed: this will become a high profile topic in the long run if people start using it on a grand scale. But political support for unregulated crypto is not likely, at least so it seems.  There is too much at stake in that sense for governments to just let it slip.

I think all governments will feel threathened to some extent, although there will be differences in how this space gets regulated. I like to compare it to taxation: plenty of nations are cracking down on tax evasion, yet there are still tax havens. But will those tax havens still be there 20-30 years from now? I doubt it.

[rjclarke2000]

Maybe they should ban gold and silver too.

[yermom]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

If it's possible in one way, then the opposite is also factible.
My 0.02 BTC

Lol, no.  If it's possible to create a centralized digital currency, there is no scientific law that states it's mandatory a decentralized one be possible.  This is not yin and yang.

If you really believe that I respect it.

[Emelectrol]

Consider the following:

Governments close down:

- All or nearly all major exchanges
- All or nearly all major online market places using Bitcoin or some other crypto they want to target, including those on the darknet (on which LE is quite succesfull as of late)
- Outlaw Bitcoin (or again, some other crypto they want to target) transactions altogether, and actively police shops and companies that openly accept it.

You do not consider that this scenario 'might be problematic'? As said thousands of times before: nearly no one uses Bitcoin in the present. The percentage of the population that heard of it is (very) small as well. Without mainstream backing this will be a massive hurdle, if not a fatal one, as by far most people in society are not even interested in the ideological goals of hardcore Bitcoiners. And those people will be reading newspapers as well, including those that constantly vomit out negative stories about it.

Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.

True, but I don't think that all the countries will reach an agreement to do so.

If a country bans bitcoin (ex China) another country will see this as an opportunity to attract new businesses (ex Russia)

[practicaldreamer]

Financial freedom has always been a political issue.

But the game has changed - the question has been chrystalised. And unless the answer can be sufficiently succinct then the argument will be lost.

Only need a few 'bad apples' (ie. govt.s with more to gain from BTC (and the financial emancipation of its citizens) than they have to lose) and the whole house of cards could well come crashing down.

US is looking good to me. China is moving towards dumping USD as reserve currency + US has a long ideological history of freedom of individual etc.

But more likely it will take route, on a national scale, in smaller countries first and foremost.

Having said that, Japan is looking good too.

[practicaldreamer]

Consider the following:

Governments close down:

- All or nearly all major exchanges
- All or nearly all major online market places using Bitcoin or some other crypto they want to target, including those on the darknet (on which LE is quite succesfull as of late)
- Outlaw Bitcoin (or again, some other crypto they want to target) transactions altogether, and actively police shops and companies that openly accept it.

You do not consider that this scenario 'might be problematic'? As said thousands of times before: nearly no one uses Bitcoin in the present. The percentage of the population that heard of it is (very) small as well. Without mainstream backing this will be a massive hurdle, if not a fatal one, as by far most people in society are not even interested in the ideological goals of hardcore Bitcoiners. And those people will be reading newspapers as well, including those that constantly vomit out negative stories about it.

Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.

True, but I don't think that all the countries will reach an agreement to do so.

If a country bans bitcoin (ex China) another country will see this as an opportunity to attract new businesses (ex Russia)

Agreed.

[ParabellumLite]

Consider the following:

Governments close down:

- All or nearly all major exchanges
- All or nearly all major online market places using Bitcoin or some other crypto they want to target, including those on the darknet (on which LE is quite succesfull as of late)
- Outlaw Bitcoin (or again, some other crypto they want to target) transactions altogether, and actively police shops and companies that openly accept it.

You do not consider that this scenario 'might be problematic'? As said thousands of times before: nearly no one uses Bitcoin in the present. The percentage of the population that heard of it is (very) small as well. Without mainstream backing this will be a massive hurdle, if not a fatal one, as by far most people in society are not even interested in the ideological goals of hardcore Bitcoiners. And those people will be reading newspapers as well, including those that constantly vomit out negative stories about it.

Whatever happens, governments can effectively crack down on Bitcoin and other crypto if they'd like. There is no need to take down the network in order to make that possible.

True, but I don't think that all the countries will reach an agreement to do so.

If a country bans bitcoin (ex China) another country will see this as an opportunity to attract new businesses (ex Russia)

That is not even necessary: every hurdle that gets thrown up will add more resistance for mainstream adoption.
I also categorically deny this idea that countries are interested in building a BTC ecosystem out of which they are supposed to profit. It runs contradictory to national interests, unless the state itself would be completely crooked as well. In that case, there's a chance.

[JayJuanGee]

The cat is out of the bag, with respect to blockchain tech. Bitcoin on the other hand? I wouldn't be so sure yet.

It's not possible to create a decentralized cryptocurrency, only ones that increasingly centralize over time.  This means none of this garbage has any fundamentals and the only byproduct of this entire sector will be federated chains, aka the ones govt and corporations will use to try and enslave you.  Some people on these forums are genuinely stupid and haven't figured this out, but many know this is true yet still promote bitcoin to try and defraud other random bums for pump and dump profits while spamming fictional Andreas Antonopolous bumper sticker slogans.

You could be correct that in the long trajectory, any decentralized system of crypto currency will become coopted - however, in the meantime, that is not the situation, and who gives a ratt's ass what happens 500 years from now.  We chose our investment and support based on the present situation, rather than some speculative situation that has not yet come to pass.

In the mean time, we have bitcoin, which is a new paradigm that has the potential to surplant all previous systems - and right now, bitcoin is a small fucking entity that has a lot of upside potential in this regard, in the short term(1-5 years) medium term 10-20 years and longer term (50+ years).  If factors change, then we can adjust, but none of us know exactly how all of this is going to evolve and the level to which governments and/or financial institutions and/or other factors are going to infiltrate bitcoin and cause various abilities to change it and control it... at the moment it is proving to be amongst the most decentralized and powerful institutions (if we call it that) ever built... and we should treat it according to what it actually is and has the potential to be and don't be misguided into some scenario that is currently not what we got.  Am I not correct?

[ragnar0k]

Well, It would be great to have a green line on the daily chart now and then...
14 days only two greens - last time I see in the chart was this bad was in 2014.

I am holding but I am not overly happy...I think the "healthy correction" should be over now, let's move on  

 

[Ted E. Bare]

Who sold at the bottom?

Oh Ted, what's going on. Why aren't we at 32k yet?

We need to hodl a little bit longer RJ. You are a Legendary now!

[cAPSLOCK]

Cryptocurrencies are fast becoming a litmus test for determining which governments truly value and promote liberty for their citizens, and which are only paying lip service to personal freedom.  -cAPSLOCK 9/2017

[practicaldreamer]

Am I not correct?

You are correct.

[Hoho29]

Maybe they should ban gold and silver too.

if someday they found gold and silver against their interest and they have no control over it . gonna ban it for sure .

[rjclarke2000]

Who sold at the bottom?

Oh Ted, what's going on. Why aren't we at 32k yet?

We need to hodl a little bit longer RJ. You are a Legendary now!

This is true, I am. Would have been there sooner if I'd joined straight away instead of lurking in the shadows for so long.

I believe I am one of the strongest hodlers here so business as usual for me.


Disclaimer- Ain't never sold a satoshi.

[rjclarke2000]

Maybe they should ban gold and silver too.

if someday they found gold and silver against their interest and they have no control over it . gonna ban it for sure .

Some here say gold and silver are great stores of value and also can be used to buy things.

There is way way more money in precious metals than bitcoin so why aren't they banning it?

BUT.......bitcoin they are worried. What's that tell you?

[Ludwig Von]

Maybe they should ban gold and silver too.

if someday they found gold and silver against their interest and they have no control over it . gonna ban it for sure .

Some here say gold and silver are great stores of value and also can be used to buy things.

There is way way more money in precious metals than bitcoin so why aren't they banning it?

BUT.......bitcoin they are worried. What's that tell you?

Historic precedents show that governments do not ban PMs but confisquate them... . Even the land of the free did, not so long ago... . And my personal opinion, same will be attempted with btc. That is
why China does not just simply close the miners... .

[JayJuanGee]

Well, It would be great to have a green line on the daily chart now and then...
14 days only two greens - last time I see in the chart was this bad was in 2014.

I am holding but I am not overly happy...I think the "healthy correction" should be over now, let's move on  

 

I will be interesting to se whether this week's candle is red or green.  Right now, we are bouncing a bit below the turning point for the candle, and it appears that it needs to be above $3660 in order to be green.  Two more days and 2.5 more hours, before it closes.