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

[notme]

I hope somebody screenshotted that Kraken status update

he thought better of it and took it down

I don't have a screenshot, but I copied it:

I fell asleep at my desk. In a dream, the ghost of a butterfly from the future whispered to me "the dollar hit 0 bitcoin". I wake up, people around me dabbing the blood from their eyes. Progress has been made but not enough. I crack my whip -- "we aren't getting to zero like this!". The flogging will continue until morale improves. Expect another update after I make my rounds. I'm sorry I've let you down.

[vladimir21]

BREAKING NEWS




In an encouraging series of events Goldman Sachs claims that Bitcoin and other cryptocurrency has a viable future as a form of money, KFC Canada starts accepting Bitcoin for buckets of fried chicken, and the state of Arizona has proposed SB 1091 which will allow you to pay your taxes in Bitcoin.

[HairyMaclairy]

Roach is only buying silver to dodge the IRS.

NSA:  i know you are watching - take notes.

[HairyMaclairy]

Money gram has tweeted that Ripple is paying them to pilot XRP.

[bones261]

Roach is only buying silver to dodge the IRS.

NSA:  i know you are watching - take notes.

That's a good thing. They should have done away with income tax when they did away with the 18th amendment. Only reason the US started income tax is because the government needed a tax to make up for the revenue from liquor taxes after the 18th amendment went through. However, FDR had a bunch of programs he wanted to get started, then a war. So now we are stuck with it forever.  

[HairyMaclairy]

Roach is only buying silver to dodge the IRS.

NSA:  i know you are watching - take notes.

That's a good thing. They should have done away with income tax when they did away with the 18th amendment. Only reason the US started income tax is because the government needed a tax to make up for the revenue from liquor taxes after the 18th amendment went through. However, FDR had a bunch of programs he wanted to get started, then a war. So now we are stuck with it forever.  

It’s a Jewish conspiracy to pay for roads, elementary school education, Planned Parenthood and cruise missiles.

[bones261]

It’s a Jewish conspiracy to pay for roads, elementary school education, Planned Parenthood and cruise missiles.

Roads: Quite frankly, I think I would rather pay a toll than drive on the crappy interstates lately. I'm not sure about the rest of the country, but the highways here in Colorado are absolutely abysmal.
Elementary Schools: This is best handled at the local level. The feds need to butt out of it.
Planned Parenthood; Health care should be run by charitable organizations. Not the power hungry government nor the money grubbing for profit corporations. How the fuck do the think they can sustain making profits when the biggest consumers are either chronically ill or dying?
Cruise missiles: I have absolutely no idea why the US spends such a gross amount of the US military. Clearly, the US government is very bad at picking contracts that seem to overcharge by an extreme amount.

[Enjel]

It’s a Jewish conspiracy to pay for roads, elementary school education, Planned Parenthood and cruise missiles.

Roads: Quite frankly, I think I would rather pay a toll than drive on the crappy interstates lately. I'm not sure about the rest of the country, but the highways here in Colorado are absolutely abysmal.
Elementary Schools: This is best handled at the local level. The feds need to butt out of it.
Planned Parenthood; Health care should be run by charitable organizations. Not the power hungry government nor the money grubbing for profit corporations. How the fuck do the think they can sustain making profits when the biggest consumers are either chronically ill or dying?
Cruise missiles: I have absolutely no idea why the US spends such a gross amount of the US military. Clearly, the US government is very bad at picking contracts that seem to overcharge by an extreme amount.

The contractors they hire are the ones that the special interest donors hire... the money goes in from the taxpayer pockets to the big corporations and special interests... some gets shared with the politicians in the form of campaign contributions, and the others are pocketed...

PP and the mainstream news and Hollywood have a massive network... they propagandize the children into mass consumerism and sexual promiscuity and sensationalism (which are not a "bad" thing in themselves, but the point is that now PP and tabloid magazines, fake news, and Hollywood celebrities and big malls with ridiculous prices make a lot of money - that's the point!) for their own profits..

Common core is the stupidest garbage I've ever seen.

I'm fine with roads. The roads in liberal states seem to be quite good, which is at least one of the few benefits from the massive taxes.

Slavery has always existed in the US... those in power just find ever-creative ways to implement it. On the other hand, if the human race (or US population) is too stupid and blind to see what's going on, then I guess we deserve whatever happens to us.

[infofront]

This so-called "#metoo" movement is hilarious and shows how horrible of prostitutes western women are.  Every single male in the world with over $2 in their pocket now has 50 women claiming they were raped by them.  Take this James Franco guy for instance.  Here's one of this guy's accusers, "Violet Paley".  It's some type of B-movie actress, and what was this prostitute doing in the year 2012?  Starting a gofundme page asking random strangers on the internet to give her $50,000 for no reason LOL:

http://www.gofundme.com/helpvioletgotocollege

The mind of a woman is literally the mind of a prostitute.  They believe men are supposed to provide for them, and if they do not have some type of fool giving them stuff on hand, or if nobody will marry them, their next course of action is ALWAYS to lobby for the govt to act as a replacement provider (which really just means the unwilling sum of all men should be forced to), and if that fails, it's time to try and extort someone like that guy.

We're going to have to abolish all forms of women's rights because they will vote for socialism 100% of the time, and if they can't get socialism from the govt or by finding some idiot to marry them, they will attempt to abuse the legal system to the max to try to find other ways to force men to give them money.

I would think a conservative would not mind the #metoo movement in the US. It's mostly the liberal men who fall prey to this. When a conservative falls prey to sexual accusations, it's almost like water off a duck's back, for the most part.

That's how you can tell I'm not biased, because the guy in question is 1/2 white 1/2 Jew, and even though I despise the Jews, it's even more offensive seeing bimbos make Gofundme pages asking people to give them money for no reason and then trying to extort people if that fails.  Not even the fucking Jews make Gofundme pages.  They just steal the money.  So the activity of girls like this is even more offensive than the Jews themselves.

https://www.reddit.com/r/TheRedPill/
You can thank me later.

TLDR: Women are grown-up toddlers who need to be led around by strong men.

[tumbelini44]

is it time to buy bitcoins ? kfc canada news about bitcoin though

[HairyMaclairy]

Everything has snapped green.  Even Tron !

[pfrtlpfmpf]

Guys, i´m afraid i´m jinxing it. Sorry.

I admit, i don´t want bitcoin to go over 20000, because every time bitcoin rises remarkably, media (TV) awakes, and i see more and more countries wanting to ban exchanges and all that. We are a threat to their FIAT-system.
What do we do then ?

The other thing is: i´m not afraid to pay taxes, but how could i possibly explain the thousands of transactions, i made ? For example, i´m constantly lending (funding) some at Finex, thats thousands of transactions. Its not the money, that worries me, it´s the process to cash out.

It really is a nightmare, coming to your door soon !

And don´t tell me we´re here for the ideology, we´re here for the dosh, which still, at least for now, reigns the world.

[PoolMinor]

Why is the price going down?  

Doesn't the entire world want BTC, the money of the future?

Money that you cannot spend, or transfer to a friend, or experiment with, or really do anything with except HODL and make memes about future lambos.  

Lightning Network is coming any day now and then fees will be low and merchant adoption will sky rocket!  

Except that LN doesn't even work in theory and even ignoring that it would still takes years to bootstrap an entirely new network because that's what LN is -- an independent network to bitcoin.

Your passive aggressive sarcastic tone is very endearing.  I just bought some BCASH because of it.  Hey look. I can do it too... fun.

Why bother with LN at all, we have LTC for movement of value across from exchange to exchange. BTC ► LTC ► Fiat


_{25/1/18 Bull Trap}

[xxxx123abcxxxx]

2018 Cryptocurrency Crash (Elliott Wave) — FINAL
https://redd.it/7ptsg3
 
 

[Holliday]

Why is the price going down?  

Doesn't the entire world want BTC, the money of the future?

Money that you cannot spend, or transfer to a friend, or experiment with, or really do anything with except HODL and make memes about future lambos.  

Lightning Network is coming any day now and then fees will be low and merchant adoption will sky rocket!  

Except that LN doesn't even work in theory and even ignoring that it would still takes years to bootstrap an entirely new network because that's what LN is -- an independent network to bitcoin.

I've had no issues what-so-ever spending Bitcoin in the past several months. Granted, I'm not trying to buy single glasses of wine with block chain transactions either... because I'm not an idiot. I do buy coffee though! Let me explain the process, it's simple. Buy one Amazon gift card for $2000 and then buy enough coffee to last me five years (I don't actually buy it all at once, I like fresh coffee). Transaction fees for five year's worth of coffee... a few bucks. Wow, layers already exist which make spending Bitcoins as easy as spending fiat. Imagine that, I don't need censorship-proof transactions every time I buy coffee... What a revelation! (Also, you can use the gift card for stuff other than coffee and there are lots of other vendors for which you can buy gift cards in case coffee isn't your thing.)

It's a damn shame that you can't intentionally refuse to see that putting every transaction under the sun on a ledger that all full verifying nodes (those that do not want to trust another party) must obtain and keep forever is a terrible, horrible idea. Have you ever tried to run any software which uses a database interacting with the Bitcoin block chain? Probably not, since we only need like what... 3 full nodes worldwide?

Acting like the recent decrease in Bitcoin's price has anything to do with scaling is disingenuous at best. Why is BCH worth less? Why isn't anyone using BCH (I sync a node to convert to BTC during BCH peaks, I see the amount of transactions, it's laughable)? Could someone at least run a bot to make it look like it's being used!  Finally... for the love of all things holy, BCH is supposed to go UP when Bitcoin goes down, not drop even faster... How will I ever convert the rest of this stuff if moves like every other garbage altcoin under the sun?

I'm probably wasting my time here... LN looks amazing, I don't know which articles you've been reading...

[realr0ach]

LN looks amazing, I don't know articles you've been reading...

LN looks amazing if your goal is to recreate the already existing banking system.  LN is a trojan horse.  Whether Blockstream knows this or not or if they'll just be useful idiots for the banks in the grand scheme of things is the only question:

LN is an unworkable train wreck without putting all channel closings in the same common permissioned queue (meaning completely centralized).  The fact these systems are built around a finite block size means humans can easily attack that bottleneck by flooding it with channel closings.  Since it can be flooded, you're required to buffer them and either discard low payers or put them at the back of the line just like regular bitcoin mempool.

From that point, you either have to design as a hub and spoke model just like what Mike Hearn claimed, where the Lightning node is a bitcoin bank and everyone who uses it is their peon slaves to extract usury upon, or every lightning node broadcasts a shared queue with each other.  But due to the fact that people can try to flood the queue as mentioned earlier, each lightning node will have their own criteria for what is or isn't spam, or who is and isn't a terrorist that they will broadcast to other nodes (meaningly INSANELY PERMISSIONED, cartel coordinated, and usury based).  The nodes might also be incentivized NOT to broadcast and force a hub and spoke model for their own gain.

If a Lightning node constantly broadcasts flood bullshit to everyone, they will likely be blacklisted by other Lightning nodes (lightning banks, whatever you want to call them), so the entire system is based around things like trusted and untrusted members, subjective anti-spam filters, etc.  In other words, for Lightning to work at all, it would probably be the most permissioned centralized piece of garbage ever to exist.  No real difference from having an account at Bank of America, and ironcially, the govt will likely legislate who is and isn't allowed to run these Lightning nodes, meaning Bank of America or Goldman Sachs will run them.

At least this is my understanding of the problems one has to overcome to create such system.  The fact bitcoin is not decentralized and it's impossible to create a decentralized digital currency in the first place, also means anyone claiming Lightning is going to be "decentralized" is a complete idiot when it's built on top of bitcoin.

Do you actually know what LN is?  I'll tell you what it is.  LN is nothing more than establishing bitcoin banks on top of the blockchain.  All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system.  The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.  

The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them.  This is how crony capitalism works.  You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.

Nevermind the fact LN doesn't function in a decentralized manner in the first place.  There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers.  There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.

[HairyMaclairy]

If we have run out of panic sellers in the 13 to 16k range, this is building a great base. 

[jojo69]

I dunno

I might have one last panic sell in me

[Last of the V8s]

that Trump fella's so damn rude. I lived in Vauxhall for a while as a student and my car was only broken into less than a dozen times. 'off location' wtf? and there's a Sainsbury's now. and gay bars. perfect for yanks

[TERA2]

Could be a few days of sideways at 14500 before the drop to 8k