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

[realr0ach]

I could be wrong but I just don’t think anyone cares about precious metals anymore. I can’t imagine a millennial going out and saying they’re going to buy gold or silver bars.

READ my post.  Do you not understand the existing debts and claims have to be squared up against a new peg?  Exactly what peg do you think it's going to be if not gold and silver?  There's a reason central banks hoard metals.  It doesn't take a rocket science to know what the existing debts and claims will be rebalanced against.  The banks always do stuff like this in the past as well.  Like if you're in a country and your money turns to worthless while you owe a huge mortgage, the banks try to claim you now owe them the same amount of money except in gold or something instead of paying them in devalued, worthless paper.  Is that in any way legit, legal, or close the contract you signed up for? No, but it's going to happen anyway.

AlexGR, you don't seem to understand the fact that paper money, especially fiats issued as debt, always implode and then people enter the vaults to square up the existing debts and claims vs a new peg.  You either balance the existing debts and claims vs a new peg, or anyone that bought a $500,000 house and paid with a NINJA loan and still owes $499,999 gets a free house.  

Without balancing the existing debts and claims vs metals as the new peg, and thus vastly inflating the price of the metals, you would also have complete disintegration of most nations into some type of 500 BC lawless plunder and shooting because there is no consensus on who owns what, etc etc.  It doesn't matter if you think some people will make too much money by holding metals or whatever, it will happen because it's the only possible thing that can happen.

The numbers I stated were only a 20-40x for silver.  You seem to make believe that's an illogical and huge amount when people just bought bitcoins for $1 each and then resold them for a +20,000x a few years later.  The only difference is, it's a hell of a lot safer going all-in on silver than btc.

[xhomerx10]

In a surprising turn of events Kraken has just transfered me the Lumens corresponding to the last airdrop (from many months ago). It is some significant money at current valuation.

 I got some too... Dang.  I thought they came from a secret admirer

[sirazimuth]

I can’t imagine a millennial going out and saying they’re going to buy gold or silver bars.

they would if there was a facebook /twatter /snapperchat thingy link on their homepage with a million likes....

[realr0ach]

The inside of Russia's vault and the London vaults look mostly identical.  There's a whole lot of gold, and also a whole lot of silver.  This is what the existing claims and debts will be re-pegged against.  Much of that metal will also be melted and distributed in coinage because the people who didn't buy metals before the debt bubble implosion will want to take delivery of assets after revaluation anyway.

[HairyMaclairy]

I don’t see why anything has to be squared against any peg.   Governments gave up backing currency against precious metals long ago.

[DPoS2]

Governments gave up backing currency against precious metals log ago.

The precious metals that back their fiat come out of a gun

[DPoS2]

Getting back to bitcoin.

The Koreans aren't happy about an official suggesting they close all exchanges.

They have filed more than 4,000 petitions against the move during January. One with over 30,000 signature asks for the Minister of Justice to quit.

Bullish.

https://www.coindesk.com/crypto-crackdown-talk-draws-ire-supporters-politicians-south-korea/

The public backlash against the proposed move appears to be accelerating. On the Korean president's Blue House website, more than 4,000 petitions have been filed related to "virtual currencies" since Jan. 10.

One petition asking the Minister of Justice to step down in light of the move received more than 30,000 signatures on its own. According to Reuters, one petition alone has attracted more than 100,000 signatures and the website itself became inaccessible at one point due to excessive traffic.

that just means (((they))) will let NK nuke Seoul if the pleebs demand their financial freedoms

[Elwar]

Governments gave up backing currency against precious metals log ago.

The precious metals that back their fiat come out of a gun

Someone needs to create a new alt...Warcoin. Decentralized war. No more centralization of war...more wars, more efficient, more deaths...more coins with Warcoin.

[bonipper]

Getting back to bitcoin.

The Koreans aren't happy about an official suggesting they close all exchanges.

They have filed more than 4,000 petitions against the move during January. One with over 30,000 signature asks for the Minister of Justice to quit.

Bullish.

https://www.coindesk.com/crypto-crackdown-talk-draws-ire-supporters-politicians-south-korea/

The public backlash against the proposed move appears to be accelerating. On the Korean president's Blue House website, more than 4,000 petitions have been filed related to "virtual currencies" since Jan. 10.

One petition asking the Minister of Justice to step down in light of the move received more than 30,000 signatures on its own. According to Reuters, one petition alone has attracted more than 100,000 signatures and the website itself became inaccessible at one point due to excessive traffic.

that just means (((they))) will let NK nuke Seoul if the pleebs demand their financial freedoms

No, I beg to differ, it's definitely bullish for bitcoin.

[realr0ach]

I don’t see why anything has to be squared against any peg.   Governments gave up backing currency against precious metals log ago.

RE-READ the post.  How do you NOT see why?  Debt based currency requires infinite growth to not collapse.  It is lended into existence and requires interest to be paid just for the money to exist.  If the money supply is $100 for example, and there's also $5 required to be paid in interest, paying off the original $100 that was lended into existence reduces the money supply to 0 still leaves you with $5 debt.  

It's always been nothing more than a Jewish accounting trick to try and enslave people with unpayable debt.  This is why all religions banned it.  You are still living in the stone age and this evil cult has not yet been defeated that's been doing the same scam for thousands of years.  It is, however, a very fragile scam that easily implodes without the presence of infinite growth.  Since it's designed to implode without infinite growth (and trust me, growth is over due to peak working age demographics in 1st world countries and peak energy production), the debt bubble implodes and everything paper and digital blows up.

Now, as to why existing debts have to be re-pegged to a new asset, if you just let the debt bubble implode and take it's normal course, the money supply essentially becomes zero.  All pensions, savings, and retirements blow up, you will not be able to buy things from a grocery store, mass disputes over who owns what.  There will basically be cannibals in the street eating each other and you might have a new dark ages.  Once all this happens, gold and silver will become the only form of money used anyway.

The act of revaluing gold and silver to a much higher price essentially exstinguishes the debt bubble so that you do not have this dark ages collapse.  And it's not like they weren't going to become the only money around anyway if you let a new dark ages happen.  So the bankers generally wait till the absolute last second of some 2008-like event and do the revaluation when the collapse occurs because they want their scam to last as long as possible.  

Many of these evil jews also make believe that they can not only stop their scam from imploding, but also expand the scam even larger into a digital only, cashless society slave system. Who bitcoin was created by, or whether it was created by western intelligence is irrelevant.  It is allowed to exist by the western banking powers to try and condition people into this digital only slave system.  The second this debt bubble implodes and they're forced to step in again just like 2008, they will be forced to either revalue metals right then and there, or attempt to initiate some type of false flag event and new digital only slave system at that time.

You will not see this event coming.  It could happen a year from now, it could happen tomorrow morning.  Whatever happens, nobody is going to trust the new currency and metals will reclaim the throne either by the bankers themselves being forced to revalue them, or nobody trusting anything else after their last digital IOUs went to zero.

[RoomBot]

I know this is off topic, but it appears someone spammed the BCH mempool, recently. It appears some of the pools are electing to only mine 1MB blocks, others 2MB blocks and a couple the full 8 MB blocks.  

https://cash.coin.dance/blocks
https://jochen-hoenicke.de/queue/cash/#24h

What's the point of having big blocks when one of the mystery miners will only mine 1MB blocks?

It's relevant, methinks!

BCH Peeps spamming the BTC mempool affect BTC price & movement, so turnabout is fair play.

Especially after enduring all the Bcash & other altcoin garbage posted on this BTC thread...

[DPoS2]

You will not see this event coming.  It could happen a year from now, it could happen tomorrow morning.  Whatever happens, nobody is going to trust the new currency and metals will reclaim the throne either by the bankers themselves being forced to revalue them, or nobody trusting anything else after their last digital IOUs went to zero.

nope - they will first condition the masses for socialism.   Just look at the game design of obamacare.  The mandate forces you to pay a penalty even if you are unemployed.. you can only get around it for things like being homeless or bankrupt.. that is what they want..  they want the public to have all drained wealth and live off the state.. things will be way expensive or free depending if you already gave up or not

[realr0ach]

You will not see this event coming.  It could happen a year from now, it could happen tomorrow morning.  Whatever happens, nobody is going to trust the new currency and metals will reclaim the throne either by the bankers themselves being forced to revalue them, or nobody trusting anything else after their last digital IOUs went to zero.

nope - they will first condition the masses for socialism.   Just look at the game design of obamacare.  The mandate forces you to pay a penalty even if you are unemployed.. you can only get around it for things like being homeless or bankrupt.. that is what they want..  they want the public to have all drained wealth and live off the state.. things will be way expensive or free depending if you already gave up or not

It doesn't matter what the Jewish slavers want, they are a powerless paper tiger that is easily exterminated and are only temporarily propped up by media and banking monopolies (both of which are collapsing right now). And yes, they are pure scum that deserve all the blowback coming to them.  Case in point:

NYT Finds 'Disproportionate Role' of Israelis in World Organ Trafficking

http://www.haaretz.com/israel-news/1.610986

[mymenace]

millions around the world know all about it

just live in peace and move around it if u can

[HairyMaclairy]

I don’t see why anything has to be squared against any peg.   Governments gave up backing currency against precious metals log ago.

RE-READ the post.  How do you NOT see why?  Debt based currency requires infinite growth to not collapse.  It is lended into existence and requires interest to be paid just for the money to exist.  If the money supply is $100 for example, and there's also $5 required to be paid in interest, paying off the original $100 that was lended into existence reduces the money supply to 0 still leaves you with $5 debt.

1.  Central banks lend money to banks, so yes, money is lended into existence.  

2.   Negative interest rates levied by Central Banks during the GFC demonstrate that interest does not have to be paid for the money to exist. In fact, the money was being paid to exist (to adopt your language).

3.  No one is suggesting that a monetary squeeze due to debt reduction is going to happen anytime soon.  For starters, that would require consumers to become net savers.  They don’t seem to be very good at that.

So I can’t see it because two out of three of your central premises seem to be flawed.

[realr0ach]

Negative interest rates levied by Central Banks during the GFC demonstrate that interest does not have to be paid for the money to exist.

Money has something called a time opportunity cost.  Nobody lends to others with nothing in return.  Negative interest rates are essentially the creditor paying the debtor to borrow haha.  No, 0% interest rates and especially negative interest rates are impossible to function.  This is only a sign the system has already collapsed and they're just stalling right now to try and hash out some sort of false flag to pin the blame on someone else.  This is an evil jewish cult you're dealing with here.  They will be forced to revalue metals in the end, but they will try every scam in the book possible first to avoid it or divert blame.

[bitserve]

Negative interest rates levied by Central Banks during the GFC demonstrate that interest does not have to be paid for the money to exist.

Money has something called a time opportunity cost.  Nobody lends to others with nothing in return.  Negative interest rates are essentially the creditor paying the debtor to borrow haha.  No, 0% interest rates and especially negative interest rates are impossible to function.  This is only a sign the system has already collapsed and they're just stalling right now to try and hash out some sort of false flag to pin the blame on someone else.  This is an evil jewish cult you're dealing with here.  They will be forced to revalue metals in the end, but they will try every scam in the book possible first to avoid it or divert blame.

When someone stores your silver for you, don't they charge you what could be considered a negative interest rate?

ie: https://www.bullionvault.com/help/tariff.html

[HairyMaclairy]

Considering that negative interest rates and quantative easing are no longer deployed, it seems that they were quite successful?  Sure we have another financial asset bubble now but life continues as before.

[realr0ach]

Negative interest rates levied by Central Banks during the GFC demonstrate that interest does not have to be paid for the money to exist.

Money has something called a time opportunity cost.  Nobody lends to others with nothing in return.  Negative interest rates are essentially the creditor paying the debtor to borrow haha.  No, 0% interest rates and especially negative interest rates are impossible to function.  This is only a sign the system has already collapsed and they're just stalling right now to try and hash out some sort of false flag to pin the blame on someone else.  This is an evil jewish cult you're dealing with here.  They will be forced to revalue metals in the end, but they will try every scam in the book possible first to avoid it or divert blame.

When someone stores your silver for you, don't they charge you what could be considered a negative interest?

ie: https://www.bullionvault.com/help/tariff.html

First of all, there is no actual purpose in buying metals you don't store yourself whether it's allocated or unallocated.  Things like the Comex for instance already have in the small print that they can cash you out for fiat whenever they want.  So they can just write you a check for $17 silver or $1300 gold and then just take all your stuff and instantly revalue it to $600 silver and $10,000 gold right afterwards.  They will likely try to do that to ANYONE who has their stuff in a vault they don't control.  Secondly, I was storing all of mine inside a 10 foot aluminum bass boat and tried to reel in a grouper over the Marianas Trench.  The weight was off-balance and the whole damn boat just did a back flip and all of it was lost.

[JayJuanGee]

The inside of Russia's vault and the London vaults look mostly identical.  There's a whole lot of gold, and also a whole lot of silver.  This is what the existing claims and debts will be re-pegged against.  Much of that metal will also be melted and distributed in coinage because the people who didn't buy metals before the debt bubble implosion will want to take delivery of assets after revaluation anyway.

HOLY Fucking MOLEY, Roach!!!!!!

Looks like a lot of gold in those images.  

Perhaps close to 100 BTC worth.     or at least in the near future, 100 BTC worth.  Am I going to need those kinds of facilities to store, manage and transact with my BTC?  Or maybe this will do?