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

[Spaceman_Spiff_Original]

Same kind of reasoning could have been applied to bitcoin at the start.  Not that I have an opinion about this or that altcoin, just pointing out the hole in your rationale.

What hole tho? The impetus for creating Bitcoin against the other existing forms of payment/banking systems was clear.

How about the delusional hole in rationale that says once we have a single crypto payment system that is secure, decentralized, functional, and popular (w/ users, brokers, exchanges, and merchants), that we need another one? Or a thousand more? Ten thousand more?

Your argument boiled down to the assertion that a novel currency/payment system that does not currently have merchant adoption could not gain traction in the future.  
At one point, bitcoin had no merchant adoption and clearly it has gained significant traction.

If you are now saying that there was a need for a digital currency, and now that there is one, we don't need something else because incremental improvements will fail to gain network effects, we can look at myspace / facebook-like precedents.

Again, I am not saying bitcoin will not be the number 1 crypto in the future, in fact my best guess would be that it will be bitcoin that wins out, but I am not sure that it will.

[Biro Bob]

this is horrible

this is going to turn us all into merit whores

I wish I could help. I just tested my spendable merit... and now I have zero

Thank you all for the generous donations of sMerit. I started with 100 merit and 6 sMerit (which I consumed immediately) - I’m not sure what the initial 100 merit /6 sMerit formula is based on as other ‘members’ seem to have arbitrary amounts between 0 and several thousand.. Your very kind donations added 9 new Merit points and gave me 4 new spendable sMerits.

Cheers.

On a different.. wall observing kinda note, the UK annual self assessment tax MUST be paid by January 31st. I’m sure many people that spent well in 2017 (knowing they had massive BTC profits to fall back on) didn’t really plan ahead so needed to cash out a few Bitcoins to pay their tax bill... I’m one of these people. I cashed out at £10600 (approx $14k) but I’m sure others have been holding to the last minute hoping.... it goes a bit higher than now...

Edit: I just found out how to find out who my Meritors are by clicking on Merit in my profile. Thanks Dabs, Yefi, Rosewater, Hairy, vanobe and Jay. Much appreciated!

[conspirosphere.tk]

In the end, it's all a gamble, I just like the odds better on some of them that few people see for now (then everyone else will see it and have their "Napster" moment, that one dies and gets "torrented", but the world changes anyway.)

Mostly is that latecomers feel that btc can hardly make another 10X+ from current levels, so they end buying lottery tickets priced $1 or less to have their chance for a 100-bagger, without even looking at the monetary base or any other technical spec of their tickets. This make me support the idea of starting to use milli-bitcoins (one-thousandth btc) as the standard unit.

[HairyMaclairy]

12 hours later and it looks like the trend line is holding as an upper bound for now.  Question is whether closing of the futures on CME today will trigger a dump or a relief rally.  Volatility seems assured.  For context this is the 6 hour chart on Bitstamp.  It looks much the same at 1 week level or 15 minute level for those who don’t like the choice of scale.

[HairyMaclairy]

Robinhood 0% fees crypto trading.  200k people in line. 



quick image upload

[Heater]

Robinhood 0% fees crypto trading.  200k people in line. 



quick image upload

This is clearly a scam - zero commission? Yeah right. I guarantee you that they will front-run your order.

[jojo69]

Robinhood 0% fees crypto trading.  200k people in line.  

meanwhile Bittrex signup STILL MIA

[True Myth]

Robinhood 0% fees crypto trading.  200k people in line. 



quick image upload

I came here to post about this too.  I have had many friends contact me today about this. These are friends who only trade stocks but, have been curious about bitcoin for awhile now. They have been asking me for sources of daily info on bitcoin because they want to invest in bitcoin when it goes live on robinhood in February.

[Ibian]

So my banks just complained. Apparently churning too much money in and out of exchanges has them worried shitless that the taxman will complain. Might have to register as a business to keep trading at the current levels of volume. Not sure I wanna deal with that shit. Especially the part where I have to give up half the profit. Blah.

To me, this is worrying more than annoying. Any hint of coordination among banks? How long between the two complaints?

Same day. I'm sure they talked it over among themselves before the call.

[Last of the V8s]

@SnoopDogg

Snoop Dogg Retweeted Robinhood

Putting tha Crip in Crypto!

 9:02 PM - 25 Jan 2018

    503 Retweets
    1,320 Likes

[conspirosphere.tk]

chart of the day:

[Ibian]

So my banks just complained. Apparently churning too much money in and out of exchanges has them worried shitless that the taxman will complain. Might have to register as a business to keep trading at the current levels of volume. Not sure I wanna deal with that shit. Especially the part where I have to give up half the profit. Blah.

All your banks at once?

Two of em. One is closing the account (started it specifically to trade bitcoin, which they knew and agreed to - fuckers). The other just told us to knock it off with the big transfers.

Wow, that REALLY sucks. What country are you in? Any ideas on how you are going to work around this shit?

Denmark. Which is fucking worrying, being one of the least pozzed countries in europe.

[matt4054]

They have been asking me for sources of daily info on bitcoin because they want to invest in bitcoin when it goes live on robinhood in February.

So newcomers would better save like 0.25% fees and buy from some unestablished exchange rather than going with a reputable one, i.e. trading since 5+ years? I don't get it. But yeah, I'm Swiss, so you know...

[Ibian]

So my banks just complained. Apparently churning too much money in and out of exchanges has them worried shitless that the taxman will complain. Might have to register as a business to keep trading at the current levels of volume. Not sure I wanna deal with that shit. Especially the part where I have to give up half the profit. Blah.

All your banks at once?

Two of em. One is closing the account (started it specifically to trade bitcoin, which they knew and agreed to - fuckers). The other just told us to knock it off with the big transfers.

Wow, that REALLY sucks. What country are you in? Any ideas on how you are going to work around this shit?

There's a thread with a list of bitcoin hostile (and friendly) banks worldwide.

https://bitcointalk.org/index.php?topic=264679.0

The OP's list has recently been updated, and the last few pages give some useful up to date information. Ibian might find a friendly bank from that thread.

Nothing for Denmark.

Some of our banks have recently banned their employees from buying bitcoin, under the pretense that they are worried they will do something illegal, or lose their money. The poor dears. That's 30k+ people just for one bank mentioned in the headline, in a country of not even 6 million people. Might be time to start thinking of moving elsewhere.

[Neo_Coin]

[HairyMaclairy]

This is clearly a scam - zero commission? Yeah right. I guarantee you that they will front-run your order.

They are only doing BTC and ETH atm. With the size of the average Robinhood account being under $1000, I don’t think front running will do much good.

I don’t use Robinhood but I get the impression they are more reputable than Coinbase. 

[Neo_Coin]

[Gab0]

For now, the race for leadership is still fully on with Bitcoin having a lead but that’s not carved in stone. It is not said that this will be the case forever. In a use case whereby ‘no fees’ micro transactions are vital, IOTA would clearly have a lead over most other cryptocurrencies, assuming they can get their clusterf* of a wallet and network stability up to standards.

Besides that, having various altcoins around with new variations and technologies popping up all the time is vital for the survival of this digital phenomenon. Adapt continuously or die. So I welcome altcoins instead of loathing them.

...  I see a purpose and place for various altcoins.

You guys still talk about all these various coins in some hypothetical future where you see them being "used" for various things. But without the ONE CRITICAL thing, mass merchant adoption, they won't be used for anything other than trading. That's all. Years and years will pass by, and they won't have achieved merchant adoption on any significant level. So what then?  Just trade?

There will be blockchains that will probably never get commercial adoption, and even then, they will achieve overwhelming success. In the future, only a small number of transactions will make them human, and all the rest will be machines: washing machines, refrigerators, coffee makers, luminaires, locks, cars, bionic prostheses, subcutaneous chips, etc.
Bitcoin, as a currency and refuge of decentralized value, is only the first application, the base layer of an infinity of advances that we can not even imagine.
Before, I was a bitcoin maximalist, I thought everything had to be developed on the bitcoin protocol. Today I do not believe in the same way. I have a more eceptic vision, product of the same division of the community. You yourself profess that bitcoin should not be considered a currency. Another here believe that bitcoin can not be everything for everyone. That's why I think that in the future there will be different blockchains interacting with each other, each with different uses and applications.
I think decentralization is about that.

[explorer]

This is clearly a scam - zero commission? Yeah right. I guarantee you that they will front-run your order.

They are only doing BTC and ETH atm. With the size of the average Robinhood account being under $1000, I don’t think front running will do much good.

I don’t use Robinhood but I get the impression they are more reputable than Coinbase. 

Ya, after reading that their target audience is <$1000 deposit range, I lost interest.  That and the fact that they are reserved to a handful of US states.  Good for those able to use it, if getting small amounts for purchases is the goal.  For investment, it seems... odd.

[vanobe]

Edit: I just found out how to find out who my Meritors are by clicking on Merit in my profile. Thanks Dabs, Yefi, Rosewater, Hairy and Jay. Much appreciated!

Clicking on Merit in your profile lets me see who your Meritors are too. Theymos must have added that feature today.  

There's also this new link to view merit stats.


https://bitcointalk.org/index.php?action=merit;stats

• Recent merits
• Top-merited recent topics
• Top-merited topics, all-time
• Top-merited recent replies
• Top-merited replies, all-time
• Top-merited users, recent merit
• Top-merited users, all-time
• Most generous recent merit senders
• Most generous merit senders, all time

edit/

Theymos announced he added stats pages here.

I added stats pages:
https://bitcointalk.org/index.php?action=merit;stats
And per-user summary pages like:
https://bitcointalk.org/index.php?action=merit;u=35