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

[Rosewater Foundation]

my conscience is clear.

[orpington]

And now back to our regularly scheduled program... - the fucking MOON!

[TERA2]

I BTFD at 14420, but where do I sell? Thats always the hard part

[realr0ach]

So these so called "uncorrelated assets" that are supposed to both move in the same direction

idonotthinkthatwordmeanswhatyouthinkitmeans.png

That was a dumb comment.  During brexit, lots of sheklers crawled out of their rat holes claiming bitcoin was now joining the ranks of "uncorrelated assets" with metals.  Meaning if things like stocks dump, you can use the other as a hedge.  There's mostly no such thing as uncorrelated assets because money is a zero sum game with money sloshing around from one asset to another, so the real term should probably be more like inverse assets when uncorrelated assets don't really exist .  Anyway, the point is that if people claim to recognize both as similar off-risk assets (bitcoin off-risk, yea right), then there is no reason the two should be moving in exact opposite directions without mass fraud at play.

[Richy_T]

Anyway my point is this: please don't leave just because you feel like supporting "the wrong side" here. There are people and ideas worth supporting on all sides.

As I say, it was never about that. This place even hasn't been quite so bad as what has happened and continues to happen on Reddit but things have been done that have greatly damaged the community and more.

I would not put your opinion down either. You have been around long enough that you surely have a good feel for what works and what doesn't. Just because someone has a speciality in cryptography or coding doesn't mean they're right about everything (in fact, often the opposite). If that still puts you in the small block camp, fair enough but don't be afraid to think for yourself.

[Richy_T]

There's mostly no such thing as uncorrelated assets because money is a zero sum game with money sloshing around from one asset to another,

I think it helps to think of things as simply a trade rather than putting money into something. If you buy $10k worth of gold, the money doesn't "go into" gold, it goes into the pocket of the guy who sold it to you (or more likely his bank increases some numbers in a database). Exactly what you'll get for it when you want to divest yourself of it is another question. So, as you imply, the problem is that there is simply too much money out there and it's just a question of which asset's (or assets') price will become a bubble and burst to destroy the excess.

[realr0ach]

To showcase how dumb of an idea it is to have every transaction publicly tracked, does anyone else think it's a great time to add JayJuanGee and Gavin to:

http://twitter.com/NeonaziWallets

[HairyMaclairy]

You have permission to buy a Ferrari when it is less than 10% of your stack. And not before.

[Richy_T]

Don't forget you have to afford the oil changes too

[explorer]

Don't forget you have to afford the oil changes too

Hmmm.  New Kia every 5000km, or service the Ferrari

[TERA2]

The guy with the 300 wall on stamp is an idiot. He just keeps inching it up encouraging everyone else get all the coins and he gets none. I could have bought a significant amount of those coins at 15700 rather than 16300.

[LewisPirenne]

BTC does have very low correlation with almost any traditional assets.  But that is more likely due to low institutional ownership.  Once funds like Man AHL (which I used to own a  bit) and Risk Parity fund starts coming in, we most likely will start to see an increase in correlation and thus reducing the supposed hedging value of adding BTC to your portfolio.  But the extreme volatility may yet drown out any correlation.  

Regardless of different views or preference on scaling roadmap, I just hope that all bitcoiners will save their precious BTC for the future fight against the banksters and govts.  Pumping via fiat as per Bithumb is ok.  But using up precious BTC as Ver has done is just regrettable.    

[explorer]

The guy with the 300 wall on stamp is an idiot. He just keeps inching it letting everyone else get all the coins and he gets none.

Seller herding buyers up the ladder to slaughter?  Used to be how it was done near the top...

[HairyMaclairy]

Coinbase is number 1 free app on Apple Store.

[Wekkel]

The guy with the 300 wall on stamp is an idiot. He just keeps inching it letting everyone else get all the coins and he gets none.

Seller herding buyers up the ladder to slaughter?  Used to be how it was done near the top...

Its called distribution.

[realr0ach]

The guy with the 300 wall on stamp is an idiot. He just keeps inching it letting everyone else get all the coins and he gets none.

Seller herding buyers up the ladder to slaughter?  Used to be how it was done near the top...

Its called distribution.

That's about as bad as when I saw someone try to rename the word pump and dump to "capital flows" earlier.  Yea, the capital is flowing alright lol.

[ErisDiscordia]

Anyway my point is this: please don't leave just because you feel like supporting "the wrong side" here. There are people and ideas worth supporting on all sides.

As I say, it was never about that. This place even hasn't been quite so bad as what has happened and continues to happen on Reddit but things have been done that have greatly damaged the community and more.

I would not put your opinion down either. You have been around long enough that you surely have a good feel for what works and what doesn't. Just because someone has a speciality in cryptography or coding doesn't mean they're right about everything (in fact, often the opposite). If that still puts you in the small block camp, fair enough but don't be afraid to think for yourself.

You're right, the people with the deepest insight into coding and cryptography often end up having the least amount of knowledge about the implications of Bitcoin for the economy & society. That's the kind of beast Bitcoin is - it is extremely difficult to grasp and comprehend it in its entirety.

For now I am cautiously in the small block camp while vigilantly watching out for any sort of shenanigans.

The biggest victim of all this has been the ability of the community to hold a civilized debate focusing on arguments instead of ad hominem attacks. But that's the kind of times we're living in right now...

I guess I should be happy, being a discordian and all, but this sort of discord just feels wrong. It takes itself too seriously. And only angels fly, because they take themselves lightly, while those of us who are full of shit cling to the ground of seriousness. 

[realr0ach]

And only angels fly, because they take themselves lightly

So you agree that women are large children.

[HairyMaclairy]

There are too many people talking their book while their Bcash is locked up in Coinbase. This will change come 1 Jan.

[Richy_T]

For now I am cautiously in the small block camp while vigilantly watching out for any sort of shenanigans.

I have a transaction (1 input, 2 outputs) with an $11 fee sitting waiting to be confirmed for two hours now. Make of that what you will.