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

[jojo69]

the marked doesn't seem to give a fuck

[LFC_Bitcoin]

I’m embarrassed for them, utterly cringeworthy!

[Last of the V8s]

the marked doesn't seem to give a fuck

yuh the cryptopapers reported it 12 to 3 hours ago

it's just some kids i'd guess



more important is that bitcoindotcom has gone all bitcoin cash
tonnes of scope for Ver to scam people for the wrong bitcoin


edit also this lol https://bitcoinclassic.com/news/closing.html

[pfrtlpfmpf]

Lesson learned today: keep some spare popcorn at home, at all times 

[Ted E. Bare]

Lol only in crypto. What a mess.

[julian071]

Anarchy is always messy. Entertaining tho 

[LewisPirenne]

Due to its strong incentive to hoard rather than spend, Bitcoin is already a "peer Peerage to peer Peerage Electronic Cash System".  

Payment has already been disrupted by the like of Alipay, which has retained 500 million users and attracted over USD$1 trillion for its money market fund in the space of a few years.  A decentralized blockchain can never hope to achieve such adoption compare to a centralized solution.  In fact, the reason why Japan even introduces "J-Coin" is largely due to the expansion of Alipay into neighboring countries such as Japan and Taiwan.  Because seriously, who would want their personal banking details and spending habits stored in China and be available to Chicom censors?  

There is no need to re-invent the wheel.  Bitcoin only has to try remaining decentralized and trustless and serve its function for social scaling and reaching consensus.  One can then build payment/credit/derivative layers on top as per Exeter's pyramid.  

[Heater]

As someone who bought their first Bitcoin in 2012 for $20,

Indeed, I can't help but laugh at all the thousands of newcomers who just read r/bitcoin and suddenly think they are scaling experts. That Bitcoin should be able to run a node on every Raspberry Pi in Afghanistan. Yada yada yada. This is psychologically manipulated groupthink. Let's face it - many of the people getting into Bitcoin today are "newbies" who weren't very smart or educated in the first place. But they all like to act like they are, ESPECIALLY when it comes to their opinions on the Blocksize debate - an opinion that was only formed through reddit. Oh boy do they love repeating those opinions, and screaming down anyone who disagrees, like a bunch of drunken fratboys who think they are about to lose their virginity. Only a very small minority are capable of using logic or reason.

It's both amusing and kind of sickening to watch happen.

Anyway, now that the dust has settled and the "1mb forever" crowd has won, Legacy Bitcoin will likely never scale in any meaningful kind of way - Meaning Legacy BTC will never be anything more than a speculator's toy to get rich, a gateway to altcoins and FIAT and a settlement layer.

However, I still fully expect the combined speculator and institutional investor money to take Legacy Bitcoin to 50 - 100K and beyond. However, it will become impossible to move coin at some point on the main chain , with $100+ fees, making a very large percentage of BTC wallets unspendable. At that point, the vast majority of Crypto users and commerce will have already moved to either Bitcoin Cash, Monero or Ethereum. In the long long run, 5+ years, I fully expect either Bitcoin Cash, Monero or Ethereum to become the #1 coin with the highest market cap. It's inevitable now that Bitcoin will never scale - and let's be honest, Lightning Network will either never exist or will never deliver as promised --- which means BTC is going to be stuck where it is now from the scaling perspective, with only a few band-aids thrown on top, likely forever -- unless the miners finally grow a pair, say enough is enough and stand up to the bought out Corporate shills at Blockstream, but I'm not holding out hope for that outcome at all.

I've also been around a long time and agree with your sentiments. The behavior on reddit is terrible - I can only assume they are just young and stupid? I try my best not to assume malice or conspiracy...

Maybe it's time we set up a real Rosewater Foundation where the elders can train a few of these future millionaires on the ways of being a virtuous person.

Exhibit A:

[Arriemoller]

https://news.bitcoin.com/bitpico-claims-segwit2x-still-alive-despite-evidence-contrary/

[Rosewater Foundation]

As someone who bought their first Bitcoin in 2012 for $20,

Indeed, I can't help but laugh at all the thousands of newcomers who just read r/bitcoin and suddenly think they are scaling experts. That Bitcoin should be able to run a node on every Raspberry Pi in Afghanistan. Yada yada yada. This is psychologically manipulated groupthink. Let's face it - many of the people getting into Bitcoin today are "newbies" who weren't very smart or educated in the first place. But they all like to act like they are, ESPECIALLY when it comes to their opinions on the Blocksize debate - an opinion that was only formed through reddit. Oh boy do they love repeating those opinions, and screaming down anyone who disagrees, like a bunch of drunken fratboys who think they are about to lose their virginity. Only a very small minority are capable of using logic or reason.

It's both amusing and kind of sickening to watch happen.

Anyway, now that the dust has settled and the "1mb forever" crowd has won, Legacy Bitcoin will likely never scale in any meaningful kind of way - Meaning Legacy BTC will never be anything more than a speculator's toy to get rich, a gateway to altcoins and FIAT and a settlement layer.

However, I still fully expect the combined speculator and institutional investor money to take Legacy Bitcoin to 50 - 100K and beyond. However, it will become impossible to move coin at some point on the main chain , with $100+ fees, making a very large percentage of BTC wallets unspendable. At that point, the vast majority of Crypto users and commerce will have already moved to either Bitcoin Cash, Monero or Ethereum. In the long long run, 5+ years, I fully expect either Bitcoin Cash, Monero or Ethereum to become the #1 coin with the highest market cap. It's inevitable now that Bitcoin will never scale - and let's be honest, Lightning Network will either never exist or will never deliver as promised --- which means BTC is going to be stuck where it is now from the scaling perspective, with only a few band-aids thrown on top, likely forever -- unless the miners finally grow a pair, say enough is enough and stand up to the bought out Corporate shills at Blockstream, but I'm not holding out hope for that outcome at all.

I've also been around a long time and agree with your sentiments. The behavior on reddit is terrible - I can only assume they are just young and stupid? I try my best not to assume malice or conspiracy...

Maybe it's time we set up a real Rosewater Foundation where the elders can train a few of these future millionaires on the ways of being a virtuous person.

Exhibit A:

I just noticed one of my favourite posters sold his account. https://bitcointalk.org/index.php?topic=1718384.msg24234311#msg24234311
Social engineering is big business now. It wouldn't surprise me if those all belong to the same troll/s. Real people don't talk like that.

[s1]

Former Bitcoin King is Bankrupt and could be rich again.

https://www.wsj.com/articles/former-bitcoin-king-is-bankruptand-he-could-get-rich-again-1510223405

because the claims by people who deposited bitcoin at Mt. Gox are calculated based on the yen value of the cryptocurrency at the beginning of Mt. Gox liquidation proceedings in April 2014
...
Mr. Karpelès’s company, called Tibanne, owns about 88% of Mt. Gox.

The bankruptcy estate for Mt. Gox holds 202,185 bitcoins worth about ¥169 billion or $1.5 billion at current rates. Meanwhile, the trustee has recognized claims by exchange customers of ¥46 billion based on the April 2014 bitcoin price, a procedure that lawyers say has a sound basis in bankruptcy law.
...

Omg...Karpelès.....Bankrupty laws make no sense.  How can they make him a billionaire???   Really!!!!!

[nanobtc]

WSJ article is paywalled. Here's an imgur image.

[afbitcoins]

As someone who bought their first Bitcoin in 2012 for $20,

Indeed, I can't help but laugh at all the thousands of newcomers who just read r/bitcoin and suddenly think they are scaling experts. That Bitcoin should be able to run a node on every Raspberry Pi in Afghanistan. Yada yada yada. This is psychologically manipulated groupthink. Let's face it - many of the people getting into Bitcoin today are "newbies" who weren't very smart or educated in the first place. But they all like to act like they are, ESPECIALLY when it comes to their opinions on the Blocksize debate - an opinion that was only formed through reddit. Oh boy do they love repeating those opinions, and screaming down anyone who disagrees, like a bunch of drunken fratboys who think they are about to lose their virginity. Only a very small minority are capable of using logic or reason.

It's both amusing and kind of sickening to watch happen.

Anyway, now that the dust has settled and the "1mb forever" crowd has won, Legacy Bitcoin will likely never scale in any meaningful kind of way - Meaning Legacy BTC will never be anything more than a speculator's toy to get rich, a gateway to altcoins and FIAT and a settlement layer.

However, I still fully expect the combined speculator and institutional investor money to take Legacy Bitcoin to 50 - 100K and beyond. However, it will become impossible to move coin at some point on the main chain , with $100+ fees, making a very large percentage of BTC wallets unspendable. At that point, the vast majority of Crypto users and commerce will have already moved to either Bitcoin Cash, Monero or Ethereum. In the long long run, 5+ years, I fully expect either Bitcoin Cash, Monero or Ethereum to become the #1 coin with the highest market cap. It's inevitable now that Bitcoin will never scale - and let's be honest, Lightning Network will either never exist or will never deliver as promised --- which means BTC is going to be stuck where it is now from the scaling perspective, with only a few band-aids thrown on top, likely forever -- unless the miners finally grow a pair, say enough is enough and stand up to the bought out Corporate shills at Blockstream, but I'm not holding out hope for that outcome at all.

I've also been around a long time and agree with your sentiments. The behavior on reddit is terrible - I can only assume they are just young and stupid? I try my best not to assume malice or conspiracy...

Maybe it's time we set up a real Rosewater Foundation where the elders can train a few of these future millionaires on the ways of being a virtuous person.

Exhibit A:

Although I never frequent reddit, I see shades of that here too.

 

[Rosewater Foundation]

WSJ article is paywalled. Here's an imgur image.

That last sentence is about as bearish as fk.

[Fatov]

Bitstamp is pumping again 

[JayJuanGee]

looking at the 4 hour optamisum chart we should  hit $7400 in a few hours 

Jesus Christ, this guy and his magic 4 hour optamisum chart.


MOTHERFUCKING BUY BUY BUY!!!

Are we on our way? 


Must we bow to the deity?


 

[Rosewater Foundation]

I guess nobody reads the last sentence anymore.

[AlcoHoDL]

Carolina incoming!

via Imgflip Meme Generator

[xhomerx10]

Although I never frequent reddit, I see shades of that here too.

HAHA ! Suck my dick, idiot !

Good luck !

DIE BitCH DIE !!!!

Just lost a mouthful of coke zero!
Lol

[jojo69]

God damn, ol' magical tux looking pretty trim and smug there.

Whatever he's doing it agrees with him, hasn't looked so good in years...punchable...but good.