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

[BlindMayorBitcorn]

An hour until the dumps then.

[itod]

*Unless a change in POW helps to equalize mining power by making costs harder to scale.

...Your apparent belief that a change in PoW will make any difference in centralization is unpersuasive. No matter the technology, mining power will coalesce to those that possess the financial resources, the BizOps acumen, and most importantly the persistence and pain tolerance needed for entrepreneurship on a grand scale.

I don't believe this is true. If somehow PoW can be tied to a smartphone for "one phone one vote", those who have financial resources can screw themselves against the brute force of several billion smartphone users. "One RAM bank one vote" seems like a move in good direction, but it is not enough, something else is missing in that algorithm to truly democratize mining.

[rjclarke2000]

An hour until the dumps then.

Yes. We've all seen this happen before hey Bitcorn.

Honestly guys, who thinks this will really happen with Amazon?

I don't mean to be pessimistic but I'm going to be pessimistic.

I can't see it happening.

[jojo69]

no way

[gentlemand]

I can't see it happening.

How the fuck did it ever get to this position? It's the tiredest trope in Bitcoinland and merchant adoption does nothing anyway.

[rjclarke2000]

I can't see it happening.

How the fuck did it ever get to this position? It's the tiredest trope in Bitcoinland and merchant adoption does nothing anyway.

We all know, but once again hope that this time it will be different

[realsteelboy]

Has anyone actually been listening? I've logged into some Q&A. Has he question been asked?

[BlindMayorBitcorn]

If Amazon came out and said going forward they will _only_ accept Bitcoin, that would be something.

[rjclarke2000]

If Amazon came out and said going forward they will _only_ accept Bitcoin, that would be something.

Dream on BMB

[BlindMayorBitcorn]

The fact people aren't migrating away from Coinbase en masse tells me something about people--they're mostly a bunch of apathetic wankers.

While I agree with the sentiment at least coinbase have stated upfron that their customers will have access to coins on both chains.
For me the bigger issue is bitpay - and their power to force transactions onto one chain or the other, and asfaik they have not rolled back from NYA as yet.

Some pushback against Bitpay.

https://twitter.com/pavolrusnak/status/923625085994446848

We're replacing @BitPay exchange rates API in @TREZOR Web Wallet, because they plan to play games with the BTC ticker. Can't tolerate this.

[ragnar0k]

Guys I am a bit worried...
Boris Becker, after having lost all his money with Nigerian scammers is now talking about bitcoin

Time to sell?  
(He retweeted 25th Oct)
https://twitter.com/TheBorisBecker?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

[BlindMayorBitcorn]

The time to sell was probably when Mike Tyson opened his line of Bitcoin ATM's in Las Vegas. That was thousands of dollars ago!

[realsteelboy]

The Amazon call is over and as far as I can tell nothing was mentioned.

As far as I can tell Bitcoin don't give a fuck. 

[ragnar0k]

The time to sell was probably when Mike Tyson opened his line of Bitcoin ATM's in Las Vegas. That was thousands of dollars ago!

ROFL didn't know about that... Makes me feel lots better thanks XD

[BlindMayorBitcorn]

The time to sell was probably when Mike Tyson opened his line of Bitcoin ATM's in Las Vegas. That was thousands of dollars ago!

ROFL didn't know about that... Makes me feel lots better thanks XD

He's still makin' moves, too.
https://www.vice.com/en_us/article/4wbpbn/mike-tyson-launches-bitcoin-app

[ragnar0k]

The time to sell was probably when Mike Tyson opened his line of Bitcoin ATM's in Las Vegas. That was thousands of dollars ago!

ROFL didn't know about that... Makes me feel lots better thanks XD

He's still makin' moves, too.
https://www.vice.com/en_us/article/4wbpbn/mike-tyson-launches-bitcoin-app

He's out there to take the Winklevoss

[LewisPirenne]

Damn, seeing Mike Tyson and Boris Becker associated with Bitcoin really makes me nervous.  I am flashing back to that soccer moms conversation that I overheard.  This can't be good.

[BlindMayorBitcorn]

A watched bubble never bursts. Old Ontario proverb.

[matt4054]

It won't reach the bottom until we see Chuck Norris selling some shitcoin in an infomercial at 3am on channel 743...

[JayJuanGee]

I can only imagine what the price is going to be 3 years from now. Post halving.

Well even if you consider the really worst case of what it could be in late 2020, I think $10-15K/btc would be the bottom. Which by all measures would still be fkn phenomenal. Outside of some black swan, I cannot envision a scenario where it would be any lower than that.

Which would of course make many of us rich AF. Personally I’ve always looked at around 2021 as my get out point (75% sell off maybe).

Fingers crossed guys.

To be honest, becoming a millionaire in pounds sterling by 2021 is not too far fetched. What a ride.

I think I am passed the point where I could sell my stash. The thought of not owning btc is horrible.

I think a 60-75% sell off is not too extreme. My real goal would be to be able to buy property etc with bitcoin in my area.


Edit. I hope JJG sees this post as I have put in some percentages for him.

Well, yeah.  I agree that there could be some question about: 1) whether BTC has advanced itself into an actual bubble and is due for a significant correction, which could justify selling a large amount of holdings (perhaps?) or 2) whether there is some investment, such as real estate, that causes a BTC hodler to feel some kind of retention of value by extracting BTC value into that other asset.  

Even with the significant sell-off and correction scenario (1), there may be some intention to merely temporarily take out BTC value with the aim of putting back in at a lower price (even if it is only putting in 50% of the amount taken out).  With the invest in other assets scenario (2), there may also be some kind of presumption that either diversification of assets is good or that bitcoin could be due for a correction (or a period of performance lower than the other asset, otherwise it could be better to just keep most of the value in bitcoin and only extract a small amount of value out of bitcoin for the diversification purposes.