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

[Torque]

https://www.forbes.com/sites/jasonbloomberg/2017/12/09/seven-lies-bitcoin-fans-tell-themselves-and-anyone-else-who-will-listen/

 

I loughed so hard, it still hurts  

Here, let me try:

Seven lies that Fiat-lovers tell themselves and anyone else who will listen

1. The dollar has value because it's backed by the Fed and the U.S. Govt.
2. A dollar today is as valued as a dollar 50 years ago.
3. Dollars aren't used for domestic or international crime, like at all. Nope.
4. Banks keep all of the dollars that you and I have in our accounts, in the actual bank. Each digital $ has a real physical dollar backing it 1:1. All those printed dollars are stored in actual vaults.
5. You can go and withdrawal all of your cash from your bank account any time you like, even if you have > $3000, or even $1M
6. When you store your money in a bank, no one can steal it from you.
7. When you store your money in a bank, it'll earn interest on your savings.

Shit, already up to seven, and I have like 100 more... ah well..

[RealMachasm]

So it's like doing local bitcoins trades for millions of dollars? If I were bob I wouldn't be comfortable with sending hundreds of coins in return for a suitcase full of funny money. How would he know if it's real money in the suitcase,or if it's funny money?

No. You go to a professional OTC broker who acts as the matchmaker and possibly the escrow too. There are plenty of them.

Are there a list of these brokers? Specifically in the UK?

[Ibian]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

https://bisq.network/
http://www.coinffeine.com/

How is fiat handled?

[gentlemand]

Are there a list of these brokers? Specifically in the UK?

Try Coinfloor. Their OTC page says it's institutional only but they do private people too. Lots of people seem to have used them.

The two biggest are probably Genesis Trading, which is Barry Silbert's operation, and Cumberland Mining. They may well have GBP clients waiting too as it's all case by case. Genesis Trading only do trades above 25 BTC last time I checked.

Itbit does a lot of it too.

[TERA2]

A decentralized 'exchange' is either going to arrange in personal meeting or the trading of bank wiring details. There is no magical decentralized way of transmitting fiat or ensuring the security of the exchange.

[jojo69]

I'm liking the look of this chart.

[xhomerx10]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

https://bisq.network/
http://www.coinffeine.com/

How is fiat handled?

[pfrtlpfmpf]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

Yep, i´m waiting for those !

[HairyMaclairy]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

[RealMachasm]

Are there a list of these brokers? Specifically in the UK?

Try Coinfloor. Their OTC page says it's institutional only but they do private people too. Lots of people seem to have used them.

The two biggest are probably Genesis Trading, which is Barry Silbert's operation, and Cumberland Mining. They may well have GBP clients waiting too as it's all case by case. Genesis Trading only do trades above 25 BTC last time I checked.

Itbit does a lot of it too.

Thanks

[Rosewater Foundation]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

[TERA2]

What people think BOA patent news means: mass adoption of crypto

What it actually means: Cease and desist orders to all existing crypto exchanges, and either no use of the patent or use for proprietary bank coins

Good thing decentralized exchanges won't give a damn.

Which exchanges are decentralized?

https://bisq.network/
http://www.coinffeine.com/

How is fiat handled?

So it's placing trust in third party payment processors and/or third party escrows, neither of which are secure or truly irreversible by our standards.

[gentlemand]

So it's placing trust in third party payment processors and/or third party escrows, neither of which are secure or truly irreversible by our standards.

Um, yeah. It's fiat. Cash or this pretty much.

[Ibian]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

Dinosaurs. They wanna make money but lack the technical skills to set up a wallet.

[Rosewater Foundation]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

Dinosaurs. They wanna make money but lack the technical skills to set up a wallet.

BitPay wallet takes all of 6 seconds to 'set up'. It ain't rocket surgery. That can't be it.

[Ibian]

Imagine all the retail traders who think bitcoin is a scam after reading it in the paper and want to pile on and short it:  

https://m.benzinga.com/article/10892063?utm_referrer=https%3A%2F%2Fwww.google.com%2F

For investors who actually want to own bitcoin but don’t want the hassle of setting up a digital wallet

What kind of people are these exactly

Dinosaurs. They wanna make money but lack the technical skills to set up a wallet.

BitPay wallet takes all of 6 seconds to 'set up'. It ain't rocket surgery. That can't be it.

That, and they want someone to blame if they suddenly disappear. Can't do that if they are personally responsible for the safety of their own money.

[TERA2]

I'm imagining a future where they is indeed a frenzy over coins, but not our coins. You see people rushing to buy FiatCoin and BOAcoin in their TD Ameritrade account. Meanwhile you are extremely frustrated and going 'omg you idiot that isn't a real coin. that isnt bitcoin. that isnt decentralized. why arent you on our illegal exchange trading real coins?
? havent you ever been in the crypto community or read the whitepaper or know what pki is? [no]'. But all of this just goes completely over their head and they are buying whatever is trending, as always.

[gentlemand]

I'm imagining a future where they is indeed a frenzy over coins, but not our coins. You see people rushing to buy FiatCoin and BOAcoin in their TD Ameritrade account. Meanwhile you are extremely frustrated and going 'omg you idiot that isn't a real coin. that isnt bitcoin. that isnt decentralized. why arent you on our illegal exchange trading real coins?
? havent you ever been in the crypto community or read the whitepaper or know what pki is? [no]'. But all of this just goes completely over their head and they are buying whatever is trending, as always.

Yup. I recently got in on this new thing called the Pound. It's backed by the actual UK government and all the banks and that's going to be announced on the Pound Slack soon. It offers returns of up to 0.75% a year, but don't tell no one and especially don't tell them about the 3-8% inflation bit.

[pfrtlpfmpf]

Are there a list of these brokers? Specifically in the UK?

Try Coinfloor. Their OTC page says it's institutional only but they do private people too. Lots of people seem to have used them.

The two biggest are probably Genesis Trading, which is Barry Silbert's operation, and Cumberland Mining. They may well have GBP clients waiting too as it's all case by case. Genesis Trading only do trades above 25 BTC last time I checked.

Itbit does a lot of it too.

Thanks

Double Thanks. Even though im not in the UK, i learned a thing here, or two.

[xhomerx10]

Dammit!!!