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

[TERA2]

I guess it's more like it's flying into the sun because it's going to get regulated to death.

Individual governments can only regulate exchanges, payment processors, etc.

They can't regulate Bitcoin.

They can regulate exchanges and payment processors, they can pass laws that the average person will follow, and they can set up firewalls so only tech saavy users will be able to get around. Any of these will significantly lower the value. Right now at the current value we are here due to expecting massive fiat channels and big financial players with the full blessing of governments. Bitcoin will still exist without government approval, but not at this price - not for a while at least.

[Totscha]

I guess it's more like it's flying into the sun because it's going to get regulated to death.

Individual governments can only regulate exchanges, payment processors, etc.

They can't regulate Bitcoin.

They can regulate exchanges and payment processors, they can pass laws that the average person will follow, and they can set up firewalls so only tech saavy users will be able to get around. Any of these will significantly lower the value. Right now at the current value we are here due to expecting massive fiat channels and big financial players with the full blessing of governments. Bitcoin will still exist without government approval, but not at this price - not for a while at least.

Of course, it's normal for things to get very cheap on the black market once they become illegal.

[TERA2]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

[vroom]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

how is your dogecoin doing?

[TERA2]

Doge will be the new world currency. Not bitcoin.

[Karartma1]

Do you know why Bitcoin is doomed to reach one million per coin?
Because that way everybody will probably don't mind paying CG on a single bitcoin.

 

On a different note...
considering all the many txs I made and all the different adds I used and all the keys/wallet that I compromised (yes, that happens as well you all know that) I don't even fucking remember how many BTC I touched in my life.
How on Earth am I supposed to pay CG?

[Meuh6879]

Source : http://www.zerohedge.com/news/2017-11-30/here-are-three-questions-we-hear-most-about-bitcoin-moment

There are currently $1.1 trillion in $100 bills in global circulation, and $650 billion in high denomination euro notes. Total value: $1.7 trillion, not counting counterfeit notes that likely add 20-30% (in the case of $100 bills at least).

By comparison, bitcoin’s current total value is $167 billion, and total crypto currency outstanding is $307 billion.

The question is: what is the appropriate share for crypto currencies like bitcoin in a market defined as “fiat+crypto currencies”? At current levels, bitcoin’s share is 8%, and all cryptos combined have a 15% share.

Where could this ratio go? Here is a table to consider, assuming bitcoin remains 50% of the total crypto currency market (a fairly sticky ratio lately):

-    Bitcoin at $20,000: 14% market share of crypto+fiat paper currency market
-    Bitcoin at $50,000: 25% market share
-    Bitcoin at $100,000: 33% market share

[Spaceman_Spiff_Original]

I guess it's more like it's flying into the sun because it's going to get regulated to death.

Individual governments can only regulate exchanges, payment processors, etc.

They can't regulate Bitcoin.

They can regulate exchanges and payment processors, they can pass laws that the average person will follow, and they can set up firewalls so only tech saavy users will be able to get around. Any of these will significantly lower the value. Right now at the current value we are here due to expecting massive fiat channels and big financial players with the full blessing of governments. Bitcoin will still exist without government approval, but not at this price - not for a while at least.

Of course, it's normal for things to get very cheap on the black market once they become illegal.

That's a ludicrous comparison.  Bitcoin has a fixed supply and thus gets a higher price from more people buying in and holding.  A government ban would lower the userbase, thus dropping price.
Higher price from black market goods comes from a risk premium the producers and vendors get to charge.  They have fewer competition because not everyone is willing to go to jail.


EDIT: Time for a shot JoJo !

[JayJuanGee]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

Imagine that either Tera did not buy enough bitcoin or sold too many, and the bearish-bullshit talk begins to wax, wane and spew from her mouths....

Sure you have these bearish tendencies, which can be reasonable, but frequently you are spewing out scenarios that are NOT in touch with real actual happenings an real actual events in order to spread FUD.

[Spaceman_Spiff_Original]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

Imagine that either Tera did not buy enough bitcoin or sold too many, and the bearish-bullshit talk begins to wax, wane and spew from her mouths....

Sure you have these bearish tendencies, which can be reasonable, but frequently you are spewing out scenarios that are NOT in touch with real actual happenings an real actual events in order to spread FUD.

You know JJG, the higher the price goes, the more you start acting like an a-hole.

[Searing]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

Imagine that either Tera did not buy enough bitcoin or sold too many, and the bearish-bullshit talk begins to wax, wane and spew from her mouths....

Sure you have these bearish tendencies, which can be reasonable, but frequently you are spewing out scenarios that are NOT in touch with real actual happenings an real actual events in order to spread FUD.

You know JJG, the higher the price goes, the more you start acting like an a-hole.

Hey, I resemble that remark! (cocky I get..on the price rise..)   (despondent I get on the price dump...)

conflicted

[BitcoinBunny]

Comfortably over $10K going into 2018 I can foresee.
$100,000 by the summer and $1,000,000 after the next halving in 2020 sounds totally unrealistic.
I think one of the problems at this point is that even those that hold lots of cash let alone those on the breadline are totally unaware you can buy a fraction of a coin.

But I'd happily be proven wrong.

[Spaceman_Spiff_Original]

Hey Jojo, were we supposed to drink a shot at every $10k tick?

Code:

10:54:10
10000
2.53340
10:54:06
10000
0.30136
10:54:00
10000
0.10672
10:53:58
10000
2.57997
10:53:57
9987.99
0.34552
10:53:56
10000
0.00336
10:53:55
9986.67
0.16004
10:53:55
10000
0.1
10:53:52
10000
0.09999
10:53:50
10000
0.10336
10:53:45
10000
0.1
10:53:43
9986.67
0.43549
10:53:43
10000
0.1
10:53:40
9986.76
0.27558
10:53:40
9995
0.12812
10:53:37
10000
0.1
10:53:36
9995
0.00662
10:53:35
10000
0.57118
10:53:31
10000
0.02
10:53:29
10000
2.51982
10:53:28
9995
0.35773
10:53:26
10000
0.02
10:53:22
10000
0.08126
10:53:18
10000
4.74368
10:53:15
10000
0.02
10:53:13
10000
0.28331
10:53:10
10000
2.54104
10:53:05
10000
16.4547
10:52:59
9990 

If so, I fear many liver and brain cells will die today....

[vroom]

Hey Jojo, were we supposed to drink a shot at every $10k tick?

Code:

10:54:10
10000
2.53340
10:54:06
10000
0.30136
10:54:00
10000
0.10672
10:53:58
10000
2.57997
10:53:57
9987.99
0.34552
10:53:56
10000
0.00336
10:53:55
9986.67
0.16004
10:53:55
10000
0.1
10:53:52
10000
0.09999
10:53:50
10000
0.10336
10:53:45
10000
0.1
10:53:43
9986.67
0.43549
10:53:43
10000
0.1
10:53:40
9986.76
0.27558
10:53:40
9995
0.12812
10:53:37
10000
0.1
10:53:36
9995
0.00662
10:53:35
10000
0.57118
10:53:31
10000
0.02
10:53:29
10000
2.51982
10:53:28
9995
0.35773
10:53:26
10000
0.02
10:53:22
10000
0.08126
10:53:18
10000
4.74368
10:53:15
10000
0.02
10:53:13
10000
0.28331
10:53:10
10000
2.54104
10:53:05
10000
16.4547
10:52:59
9990 

If so, I fear many liver and brain cells will die today....

just find a liver donor who accepts bitcoin.

[DaRude]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

how is your dogecoin doing?

Hilarious  though very annoying that people still feed him/her

[Rosewater Foundation]

[HairyMaclairy]

Do you know why Bitcoin is doomed to reach one million per coin?
Because that way everybody will probably don't mind paying CG on a single bitcoin.

 

On a different note...
considering all the many txs I made and all the different adds I used and all the keys/wallet that I compromised (yes, that happens as well you all know that) I don't even fucking remember how many BTC I touched in my life.
How on Earth am I supposed to pay CG?

[Money out] minus [money in]

Everything else is a wash. 

[JayJuanGee]

I'm imagining this 10 year flag where it drops back to nothing after government bans and then 10 years later it finally breaks 10,000 (or whatever ath was) again as we struggle to watch what is going on in decentralized exchanges and hand to hand transactions.

Imagine that either Tera did not buy enough bitcoin or sold too many, and the bearish-bullshit talk begins to wax, wane and spew from her mouths....

Sure you have these bearish tendencies, which can be reasonable, but frequently you are spewing out scenarios that are NOT in touch with real actual happenings an real actual events in order to spread FUD.

You know JJG, the higher the price goes, the more you start acting like an a-hole.

I have heard that before.


I recall that when bitcoin was hovering in the $250 territory for almost a year.. remember 2015, and then it passed into the $700 in May/June 2016, and someone said that I was a lot nicer when my BTC portfolio was 50%-ish in the red, rather than being 50% into profits.

hahahahahaha...


What nonsense.   

Now, I am like somewhere between 12x and 15x profits, depending on how things are measured, and my asshole factor is going up... perhaps?   Perhaps it is all the blow and hookers?

Perhaps between now and the end of 2018, we are going to go into the $40k to $100k per bitcoin... . Currently, i think that those projections are a bit of a stretch, but I can imagine that my asshole factor is going to increase, even more.  I might even become intolerable, perhaps?


Hypothetically, I am having some troubles envisioning what would be the ways I am going to use my fortunes if I suffer from another 4x to 10x increase in wealth.... or maybe in the real world, I am going to make some mistakes, and I might not achieve another 4x to 10x... maybe I will get dumb, and diversify into Bcash or some other stupid thing like that?  Perhaps?  Perhaps?

[CornCube]

maybe I will get dumb, and diversify into Bcash or some other stupid thing like that?  Perhaps?  Perhaps?

There’s only one counter-trend altcoin at this time in the Top 10:

https://coinmarketcap.com/charts/#dominance-percentage

Very dumb to buy it because it’s going down short-term (before it goes up, up, up again).

BitcoinSegWit is not Satoshi’s immutable protocol, i.e. it is not Bitcoin. It is a “pay to anyone” shitcoin. I smell a rat on the horizon combined with shorting on futures markets.

[Rosewater Foundation]

Another 4x or 10x. Talk about kicking the hornet's nest. The higher this thing climbs the more I want to go into hiding. Normals are losing their shit over this.