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

[criptix]

Eth the pumpers choice tonight ...

yeah this is the reason for the pump:

ethereum's newest and biggest ICO:

Give it a couple more years and he'll be able to place his brain in a jar and hand his body over to a Nike fitness brain who'll return it in peak condition a couple of months later.

He can still do conferences from his jar like Charlie Shrem already has.

-charlie's cookie jar-

i love futurama too

I dont think you understand how much fiat money has to be put into btc for a 1 million valuation.

I think people overestimate how much fiat it will take to go up another 60x. Here is a thought experiment:

What if the decimal place was moved in bitcoin to give a 1:1000 split? If collectively everyone used the term bitcoin for the unit of value we currently call a millibit or mBTC making the total eventual supply 21 billion instead of 21 million, the price currently would be ~$16.70.

How hard would it be to pump it over $20? Would it be that hard to get to $100 again for an equivalent $100,000 value or $1000 for an equivalent $1,000,000 value?

2 years might be a little soon but who knows?

I somehwhat agree but only from the psychological perspective.

From the economic angle we have mainly two things:

1. Technological and political fundamentals
2. Supply and Demand

and these things have no connection to the number of decimals.

[Arriemoller]

I dont think you understand how much fiat money has to be put into btc for a 1 million valuation.

I think people overestimate how much fiat it will take to go up another 60x. Here is a thought experiment:

What if the decimal place was moved in bitcoin to give a 1:1000 split? If collectively everyone used the term bitcoin for the unit of value we currently call a millibit or mBTC making the total eventual supply 21 billion instead of 21 million, the price currently would be ~$16.70.

How hard would it be to pump it over $20? Would it be that hard to get to $100 again for an equivalent $100,000 value or $1000 for an equivalent $1,000,000 value?

2 years might be a little soon but who knows?

Nice way of making it understandable, great.

[Vin]

Eth the pumpers choice tonight ...

yeah this is the reason for the pump:

ethereum's newest and biggest ICO:

https://fitvitalik.io/



 

Best one for today 

[Arriemoller]

Well, I may be wrong, I'm not an oracle. But I do believe in my predictions. But eventually, time will tell. Let's have another pow wow this time next year and see if we are still on track.

[criptix]

If it is true that only 0,01% of the population today uses bitcoin, and the price is almost 20000 USD, imagine the price when 50% of the population uses bitcoin. We are talking several hundred million dollars, maybe even in the range of a billion. One million will be reached within two years at this rate.

I said "One million will be reached within two years at this rate."
So two years and no slowing down. If there isn't enough money for that then it won't be at "this rate".

Ok, i understand - but just to bring it into perspective i do not believe that 50% of the worlds population will use BTC in 2 years either.

And imho BTC would not need it per se to have a valuation of 1 million per coin.
It could be used as a store of wealth or as a settlement layer of the super rich, multinational companies and nation states.

If it is true that only 0,01% of the population today uses bitcoin, and the price is almost 20000 USD, imagine the price when 50% of the population uses bitcoin. We are talking several hundred million dollars, maybe even in the range of a billion. One million will be reached within two years at this rate.

I never said that 50% of the population would use bitcoin in two years. Go back and read what I wrote, you obviously have misunderstood.

Ok, now i actually understand what you mean. You compared the adoptionrate with price and extrapolated.
My bad - i will just excuse myself with the time being late and that im tired.  

Well, I may be wrong, I'm not an oracle. But I do believe in my predictions. But eventually, time will tell. Let's have another pow wow this time next year and see if we are still on track.

I think your outlook is a bit too positive, but well who can know the future - and if it really happens i would be more then happy  

probaly gifting some lambos on the forum if when that time comes lol

[fabiorem]

https://fitvitalik.io/

My sides. 

[JayJuanGee]

If it is true that only 0,01% of the population today uses bitcoin, and the price is almost 20000 USD, imagine the price when 50% of the population uses bitcoin. We are talking several hundred million dollars, maybe even in the range of a billion. One million will be reached within two years at this rate.

im a superbull - but thats even too much for me:

That's what some people said in here when I predicted 10000 by the end of this year and 80000 by the end of next year, and look where we are now.

Yeah, the human brain is not very good at understanding big numbers. $100-$10,000 seems doable but $10,000 to $1,000,000 seems impossible. That's why they created the stock split to keep people buying with astronomical stock prices.

Yeah, but even today, in bitcoin's current form, you can already divide into Satoshi's or some other agreeable sub-unit, and achieve a "reasonable" numbers game, no?

[Rosewater Foundation]

Bglod is finally seeing some action.

[TERA2]

I keep looking at old chrome tabs with the price from weeks or months ago and panicking

[Icygreen]

Last night I was at dinner with some friends in a cheap "hole in the wall" restaurant in Phan Rang, Vietnam with a population of around 170K. Mostly retailers, fishermen, prawn farmers, and laborers. One of us noticed on the way back from the bathroom that the local shop owner was busy buying crypto on a laptop at the back of the restaurant.  WTF!  I went to inspect and she showed me her full portfolio which included BTC, eth, ltc, btg, and some other shitcoins I didn't recognize.  She had been buying with her life savings for the past several weeks to the tune of about 3% so far. I was surprised how open she was with all her figures and financial details and how blindly the trades were being executed. I could tell she'd done almost no research on any of it which kinda made me a little sick. She wanted advice after discovering I'd been in the space awhile already.
In simple english I told her that I believed only 1 coin matters today and the rest only follow.
The frenzy is real and I'm starting to think that frenzy is all the majority know.  It was both an exciting and disturbing moment to see it happening in such a removed area of the world.

[jojo69]

I keep looking at old chrome tabs with the price from weeks or months ago and panicking

perhaps this is your problem

go down for a full reboot and please report back

[Ibian]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

[Rosewater Foundation]

Last night I was at dinner with some friends in a cheap "hole in the wall" restaurant in Phan Rang, Vietnam with a population of around 170K. Mostly retailers, fishermen, prawn farmers, and laborers. One of us noticed on the way back from the bathroom that the local shop owner was busy buying crypto on a laptop at the back of the restaurant.  WTF!  I went to inspect and she showed me her full portfolio which included BTC, eth, ltc, btg, and some other shitcoins I didn't recognize.  She had been buying with her life savings for the past several weeks to the tune of about 3% so far. I was surprised how open she was with all her figures and financial details and how blindly the trades were being executed. I could tell she'd done almost no research on any of it which kinda made me a little sick. She wanted advice after discovering I'd been in the space awhile already.
In simple english I told her that I believed only 1 coin matters today and the rest only follow.
The frenzy is real and I'm starting to think that frenzy is all the majority know.  It was both an exciting and disturbing moment to see it happening in such a removed area of the world.

That is indeed a disturbing anecdote.

[Arriemoller]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

[Torque]

Last night I was at dinner with some friends in a cheap "hole in the wall" restaurant in Phan Rang, Vietnam with a population of around 170K. Mostly retailers, fishermen, prawn farmers, and laborers. One of us noticed on the way back from the bathroom that the local shop owner was busy buying crypto on a laptop at the back of the restaurant.  WTF!  I went to inspect and she showed me her full portfolio which included BTC, eth, ltc, btg, and some other shitcoins I didn't recognize.  She had been buying with her life savings for the past several weeks to the tune of about 3% so far. I was surprised how open she was with all her figures and financial details and how blindly the trades were being executed. I could tell she'd done almost no research on any of it which kinda made me a little sick. She wanted advice after discovering I'd been in the space awhile already.
In simple english I told her that I believed only 1 coin matters today and the rest only follow.
The frenzy is real and I'm starting to think that frenzy is all the majority know.  It was both an exciting and disturbing moment to see it happening in such a removed area of the world.

Thanks for sharing. That's crazy.

But interestingly, it sort of mirrors the China stock market bubble their people had not too many years ago. Average retail investors with hardly any money were just buying every Chinese tech stock they could find on the market, just because they were all going up. It was a frenzy. They were indiscriminate and had done zero research on each company. Sadly, most of those people got wiped out.

[jojo69]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

Got into the eye doc today.  Been putting it off for years.  Paid cash.  Feels good man!

Ibian, be responsible, deal with your body man, it's worth it.  You are worth it.

[Ibian]

Know what massive wealth doesn't protect you from? Toothache.

Memento mori.

Actually, it does if you spend some of it on a dentist.

Got into the eye doc today.  Been putting it off for years.  Paid cash.  Feels good man!

The ability to just... pay for almost literally anything like it was nothing is liberating. Getting a new apartment now that I'm independently wealthy (at 35! how crazy is that!). Up front payment is $5k. Don't care, it's no big deal.

I'm having a hard fucking time adjusting.

[jojo69]

I'm having a hard fucking time adjusting.

I get it, me too, but your health is THE single most precious thing you have man.

[Elwar]

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

[JayJuanGee]

Got a call this morning from the CEO of the company I retired from. He's an old friend so I told him to give me a call if he had any questions about Bitcoin.

Over and over he kept asking me what the next Bitcoin would be. I would steer him back to buying bitcoin even just for the simple fact of using it as a door into the crypto world which he then asked again, so once I'm in the space...are there any coins you've been looking at...

I pretty much told him that it was like trying to find the next Facebook. To look at the amount of development brainpower going into Bitcoin as opposed to any new coin with a dozen or so people. I told him that I have invested in some alt coins but I only invest in coins that I believe in for one reason or another, that I want to see them do well. Like with most people I just told him to go to Coinbase and buy a couple hundred dollars worth to learn the process and how to store your bitcoins, avoid Ethereum and Bitcoin cash because they're going to crash soon, and go from there.

Same here... All kinds of people coming out of the woodwork for "advices"....   Generally smart people, too....

I don't mind, but it can be a bit overwhelming and people have a lot of crazy thoughts and thoughts based on lack of understanding about some other coin being "more bang for the buck" than bitcoin... based on unit cost, and other past performance related considerations, including ingrained thinking that these various other cryptos are kind of equivalent to bitcoin and they are worthy to pump or appreciate more than bitcoin.. blah blah blah.. nonsense.