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

[Lauda]

But I still think 2018 will be remembered as the year bitcoin was replaced. I just don't see the services adopting segwit that could maybe still save the day (along with LN).

If you think that, you truly are an ignorant idiot. If you can't comprehend why "Bitcoin is being banned by X or Y" while they spam promote ETH and Ripple (et al.), then you will be playing right in their hands. That which they can not control, is that which they will actively fight. Be wary of *coins* (Ripple is not even a cryptocurrency) which the government or banks are not trying to fight against.
Simple example: https://www.express.co.uk/finance/city/899902/Bitcoin-price-LIVE-Coin-slammed-biggest-ponzi-scheme-in-history-as-price-falls.

[1714605190]

1714605190

[1714605190]

1714605190

[1714605190]

1714605190

[1714605190]

1714605190

[kosse]

Dare I ask "By what and why ?"

By Ripple and Ethereum like I already wrote in my first post. Unwashed masses don't really care for the finer qualities of bitcoin such as being decentralized. They see more potential gains in the aforementioned cheaper alternatives. Now the rates of these coins are driven by the crazy stampede of these less informed "investors" and bitcoin is just not seen as a good investment (already high unit price - the train has gone, huge fees, slow operation, no smart contracts etc etc). For these people the low unit price of Ripple alone is enough to keep pumping it until it's bigger than BTC. It does not help either that bitcoin is continuously hit with the flak from it's opponents in governements, banking world etc. The alternatives are growing next to it with almost zero opposition.

[OWZ1337]

a very bold prediction for a noob in a place like this

A newbie being a newbie.

oh yeah, but a very brave newbie no less...

TEKCOIN [sha-256 bitcoin fork]is never going to go higher than 50,000 satoshi[ATH] even if SATOSHI is coming to save us! :-D lols


https://yobit.net/en/trade/TEK/BTC

[jbreher]

I can provide a more specific prediction Here's my 2018 Outlook with entropic methods:
Paul Simon Coefficient: 0.538210
Astral Projection Rating: 1.12958
G-Spot Root Factor: π*49.84472

I expect bitcoin to stay inside the $10,000-$115,000 price zone.

I chortled.

[jbreher]

I think I see your problem:

... Raiblocks ...

[jbreher]

the alts taking market share like this is pretty shocking, you have to admit that. I certainly didn't predict it.

Many of us did. Loudly and repeatedly.

It is perfectly predictable that, should a coin stop working for most of its use cases, those use cases will migrate to alternatives that support them. Kinda economics 101, that.

[jbreher]

I never thought I would say it but given where BCH is, LTC seems awfully undervalued. There is no compelling reason to use BCH over LTC if the whole premise is transaction fees are out of control and slow block confirms.

I see your problem. That is in no way 'the whole premise'.

[jbreher]

I never thought I would say it but given where BCH is, LTC seems awfully undervalued. There is no compelling reason to use BCH over LTC if the whole premise is transaction fees are out of control and slow block confirms.

The only reason is an emotional one (it contains the Bitcoin name)

Well, no.

[itod]

What I find funny is that none of the ultra nerds or white/black hats I know seem to trust hardware wallets at all.

Finally good observation from your side, for a change. That's because they are trained to avoid single point of failure at all costs. If there is single point of failure, it's not a question if something bad will happen, it's a question when it will happen. Not just Trezor and Lager Nano suffer from this, all BIP032 (seed) wallets are vulnerable. For instance, what if a burglar breaks into safe where you keep your seed? You would kiss your BTC goodbye while you are sleeping. Are you positive none of the persons that can in theory get access to the seed would never, ever, under no circumstances miss-use the seed? I'm always amazed how many legendary users here use hardware wallets, I would never use it even if somebody would give me one as a present. Then again, there are some legendary users here that advocate using paper wallets, which is a definition of insanity. If I could not run a node and use the only reasonably safe wallet (Bitcoin-QT), I would rather keep coins split between the exchanges, with 2FA exchanges a certainly safer than paper wallets.

[jbreher]

unfortunately they figured out that people greed is the best tool to beat BTC

Do you not understand Bitcoin? Bitcoin runs on greed. Creating a way to channel each person's greed to serve the system as a whole was Satoshi's central innovation.

[jbreher]

if Bitcoin fails it will be the doom for all crypto,

I used to believe that too. However, with Bitcoin's market dominance dropping so low, I am no longer so sure about that. Pity.

[Last of the V8s]

@WhalePanda
This is actually a very interesting theory on the #Bitcoin and current altcoin manipulation. TLDR; Big players can't accumulate Bitcoin without moving the price too much, so they pump and dump "cheap" alts to accumulate Bitcoin.

[jbreher]

Coinbase, Bitpay are the biggest generators of transactions and both have given weak reasons why they haven't upgraded. Perhaps the failure 2X has weighed on that decision - sour grapes.

Sour grapes? What are you smoking? They told you the condition upon which they would adopt Segwit (this of course being S2X), and you kicked them in the teeth after activation. WTF do you expect?

it can wait a few more years/months to ensure we get it right.

In the meantime, you have gotten it wrong - oh so wrong.

[Last of the V8s]

unfortunately they figured out that people greed is the best tool to beat BTC

Do you not understand Bitcoin? Bitcoin runs on greed. Creating a way to channel each person's greed to serve the system as a whole was Satoshi's central innovation.

that's so not true, man, it's the technology dammit, and the freedom from slavery

[Asrael999]

So if I remember correctly Ripple labs own what 50billion XRP giving them a market value in the $175bn area or rough 3.5 Tesla's, 3 general motors or slightly less than 1 Volkswagen, why buy a Lambo when you can buy the company that makes them.

[txtravwill]

So if I remember correctly Ripple labs own what 50billion XRP giving them a market value in the $175bn area or rough 3.5 Tesla's, 3 general motors or slightly less than 1 Volkswagen, why buy a Lambo when you can buy the company that makes them.

Yeah, the fact that RippleLabs is like one of the top 5-10 companies in the world explains that XRP is a bit of a speculative bubble at best or at minimum overvalued now.  It is a social media phenomenon though being pumped like crazy.  Isn't even THAT easy to buy yet so it may have a ways to go but needs a good correction or two soon.

[itod]

So if I remember correctly Ripple labs own what 50billion XRP giving them a market value in the $175bn area or rough 3.5 Tesla's, 3 general motors or slightly less than 1 Volkswagen, why buy a Lambo when you can buy the company that makes them.

Mind boggling, isn't it? It gets worse when you consider they have a product with 0 actual use anywhere, and questionable technology which can be hardly called cryptocurrency at all. My only fear is that their doom and fall to abyss will have devastating affect on average Joe's trust in crypto.

[Paashaas]

I see more activity in Bcash blocks than Ripples network...lol

$140b mc with no users...lol

Those Ripple founders became 'instant' billionairs...lol

[Toxic2040]

Is that an e(a)th meme?

Good morning.  Lets see some of your TA?  No...never posted any?  Only post cute little meme's and take shots aimed at the back?  I see..
Let me know when you find the courage to put something possibly constructive out there for others to criticize without worrying about "oh no! what do the forum trolls think of me?!?"

Have a nice day.


Yes, I am grumpy in the morning.

OT

I think maybe everyone is a bit too focused on the CMC and not trade volumes. The velocity of the coins in circulation seems to be a more important metric. Even then, are these actual trades or just wash.

[mike4001]

Back at 15k

Ripple, Cardano, NEM, Stellar got a small bump.

No go on .. :-)