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

[realr0ach]

Meanwhile one of my younger friends in his 20s can't seem to understand Bitcoin. He thinks it's some kind of pyramid/Ponzi scam and that "the government" will "shut it down". Meanwhile he alternates between Mom's couch in Toronto and Dad's winter place in Thailand trying to get rich playing online poker. All this for a kid with a tested IQ over 180. Go figure.

Wow.  A poker player with an IQ over 180?   Very surprising he does not "get" bitcoin.

You are the one that does not "get" bitcoin.  Even if you ignore the fact that it's designed to completely centralize, bitcoin is 100% guaranteed to die the closer the block reward gets to zero.  Why?  Because a static block reward subsidizes all transactions just like a govt subsidy.  The second it's gone, people will just move to a different chain that still has a block reward subsidizing it, or to some other system that doesn't have the overhead of PoW since they're all designed to centralize anyway.  So yes, bitcoin actually is a Ponzi because PoW is not sustainable since you CANNOT prevent competitor chains from taking it's market once subsidy is gone.

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[infofront]

R0ach's Utopia:

[Biodom]

re age and bitcoin, it could be down to a few numbers:
2013:
americans 62 and above have $209K in wealth on average
americans less than 40 have just $14K in wealth.
https://www.stlouisfed.org/~/media/files/pdfs/hfs/essays/hfs-essay-3-2015-age-birth-year-wealth.pdf

however, you may also notice that 30-40 year olds have 30-50% more income than 62 and above.
I conclude that oldies have money, but don't have much cash flow-a perfect situation for them to do both things: buy btc (since they have more cash), and also mine it (since they have poor cash flow).

[Ibian]

Good morning Bitcoinland.

Same old, same old. Bouncing along sideways in $8k-$9k range... currently $8580USD/$10810CAD (Bitcoinaverage).

Waiting for the spring breakout. Ho hum.

late 50's here. and when i heard of btc in 2011 i took to the concept like a dog to a bone.

dont forget us old farts have seen how the government and banks play with money "for our own good" for a long time and many of us trust the government/banks even less than the younger generation.

but maybe im an exception. lot of my friends around my age just dont get btc and wont get into it. but that may be because they generally arent a technology freak like i am. 

Same here and jumped in 2013 building a gpu miner with borrowed money. In the young uns defence though, when i was 30, i thought 50+ was a lifetime away and technology to that age group was beyond comprehension.
Of course i was wrong, as they are now

Almost 70 here and definitely not a tech luddite.

I used to think anyone over 40 was old. Now I think anyone under 40 is a clueless kid.

No, not all kids are clueless about life just as not all seniors are clueless about technology.

One of my older friends (pushing 80) was buying bitcoins at less than $200 and still buys the dips. Needless to say he's done quite well.

Meanwhile one of my younger friends in his 20s can't seem to understand Bitcoin. He thinks it's some kind of pyramid/Ponzi scam and that "the government" will "shut it down". Meanwhile he alternates between Mom's couch in Toronto and Dad's winter place in Thailand trying to get rich playing online poker. All this for a kid with a tested IQ over 180. Go figure.

Age has nothing to do with it. Mental flexibility counts a lot more.

We talk about statistics or anecdotes. One of these do not represent the average.

[Last of the V8s]

[svdleer]

Can anyone turn the volume back on?

[RejectedBanana]

Can anyone turn the volume back on?

It seems like the cryptosphere is holding its breath until Chinese New Year (Feb 16) is over. I suspect the second half of Feb into March we'll see a thaw. Esp as Korean exchanges and account holders fall into regulatory order.

[YourMother]

The capitulation has already happened at $5800, therefore the business of being a bear is not booming anymore. The Lightning Network is growing exponentially, and it will hype Bitcoin to high heaven throughout 2018 and 2019. Late 2019 people will start buying in anticipation of the 2020 summer halving. Any attempts at crashing the market will be met with violent phases of wealth transfer.



Bitcoin is somewhere at the bottom in the second chart. You lost

[BTCMILLIONAIRE]

R0ach's Utopia:

Surely those gold ingots are silver ingots with gold coating?

[Rsiyz]

Dark Web Goliaths Are Turning Litecoin into the Next Bitcoin
https://wccftech.com/dark-web-litecoin-next-bitcoin/

Also mainstream MSM  spredaing  jeeeez ..  but there is piece of true

BUT there is true : future mega computing power  can broke all cryptos..all paswords, replace nad crack  your personal Bio paswords-based on dna,or other body parts ..  what will in coming in future...
And all this will create "Great" chaos.. now we see just start  voilatile up down crypto price.. or fall in wall street last months..but it is just begining in world of "no trust"
And all this things need precious metalls to create... and gold or other metalls witch CAN NOT by "copy-paste" with some quantum computers in mega clusters.. becouse plebs need some to trust.. and its not crypto    real power can crack all datacenters and computers
People here with crypto fever is like on drugs..dont see nothing in context ..in compare to last centuries ... crying on to not be rich fast.. or hold ..
That future-chaos from all was predicted.. and thats why some countries hoarding gold.. to have some real thing to trust in heavy times witch will comming from west..debt based world.. just look to hopeloss canadians.. they will allow soon all drugs, pervs,spy world with VPNs to steal ideas direct from people.. anti family laws ..


Before people work  make real things.. now they are in gym few hours day..(many of them unemploys) and after when they come from gym and "sterilisedbucks cafee" they want some "technology" witch make them "easy money" "and faaaast !!".... riiich they scream if crypto prices fall

we cantry make completely separate two worlds - where will crypto utopia  and fiat utopia .. not possible transfer/echange betwen or people from boot sides ..))
there was in history few experiments with utopia nation .. fall. as always.. but printing war-petrodollar will also destroy "fiat" world  .. traditional family based world ,as is in asia and east asia winning now and will in future..  (no japan,they are destroyed)  west fake all "succes" with debt and printing ..

[Anon136]

Meanwhile one of my younger friends in his 20s can't seem to understand Bitcoin. He thinks it's some kind of pyramid/Ponzi scam and that "the government" will "shut it down". Meanwhile he alternates between Mom's couch in Toronto and Dad's winter place in Thailand trying to get rich playing online poker. All this for a kid with a tested IQ over 180. Go figure.

Wow.  A poker player with an IQ over 180?   Very surprising he does not "get" bitcoin.

You are the one that does not "get" bitcoin.  Even if you ignore the fact that it's designed to completely centralize, bitcoin is 100% guaranteed to die the closer the block reward gets to zero.  Why?  Because a static block reward subsidizes all transactions just like a govt subsidy.  The second it's gone, people will just move to a different chain that still has a block reward subsidizing it, or to some other system that doesn't have the overhead of PoW since they're all designed to centralize anyway.  So yes, bitcoin actually is a Ponzi because PoW is not sustainable since you CANNOT prevent competitor chains from taking it's market once subsidy is gone.

Subsidizing miners with block rewards only makes it more difficult to perform a doublespend or a denial of service attack by producing empty blocks. It doesn't really motivate people to use the chain. Normal users are ignorant of how bitcoin works under the hood. They don't care about this stuff. They would only care if someone did successfully doublespend or DOS the block chain. So as long as transaction fees are sufficient to incentivize miners to collectively produce enough hashing power to prevent this than there is no reason to expect the drop off in block rewards to negatively effect bitcoin in any way.

I think it is you who does not understand how bitcoin works.

[FartBuddy]

Can anyone turn the volume back on?

It seems like the cryptosphere is holding its breath until Chinese New Year (Feb 16) is over. I suspect the second half of Feb into March we'll see a thaw. Esp as Korean exchanges and account holders fall into regulatory order.

I forgot all about Chinese New Year. The price was languishing below $1000 before last Chinese New Year, then broke above it afterwards. If the pattern repeats this year it might break above $9000 or $10000 in the New Year.

[xhomerx10]

R0ach's Utopia:

Surely those gold ingots are silver ingots with gold coating?

 Hard to fool people if you're using silver.  It has merely half the density of gold so it would be much better to use tungsten which has  a similar density to gold at a much lower price than silver to maximize the profit on the scam.
  

[Rsiyz]

Can anyone turn the volume back on?

It seems like the cryptosphere is holding its breath until Chinese New Year (Feb 16) is over. I suspect the second half of Feb into March we'll see a thaw. Esp as Korean exchanges and account holders fall into regulatory order.

I forgot all about Chinese New Year. The price was languishing below $1000 before last Chinese New Year, then broke above it afterwards. If the pattern repeats this year it might break above $9000 or $10000 in the New Year.

  after new year and celebrating/traveling in whole asia  ..do you think they will have money to feed crypto price..?   to buy

[Last of the V8s]

In terms of security, Dbrain prevents dataset leaks to third parties through the use of the Protocol for Indirect Controlled Access to Repository Data (PICARD). Dbrain says PICARD also gives data scientists the ability to “train AI models using the datasets without downloading them, and sell AI solutions to business clients later”.

[BTCMILLIONAIRE]

R0ach's Utopia:

Surely those gold ingots are silver ingots with gold coating?

 Hard to fool people if you're using silver.  It has merely half the density of gold so it would be much better to use tungsten which has  a similar density to gold at a much lower price than silver to maximize the profit on the scam.
  

I was refering to how roach seems to have a fetish for silver. I'm not sure if it would be possible to really scam people with fake gold today, people who are in the business of buying gold surely know how to check for authenticity... one would hope.

On another note, cereals doused in eggnog work surprisingly well.

[moneyForjam]

Goodmoring all! Who would like a beautiful big cup of crushed bull soul on ice?

[BTCMILLIONAIRE]

In terms of security, Dbrain prevents dataset leaks to third parties through the use of the Protocol for Indirect Controlled Access to Repository Data (PICARD). Dbrain says PICARD also gives data scientists the ability to “train AI models using the datasets without downloading them, and sell AI solutions to business clients later”.

Is the name a reference to the Mathematician?

[xhomerx10]

R0ach's Utopia:

Surely those gold ingots are silver ingots with gold coating?

 Hard to fool people if you're using silver.  It has merely half the density of gold so it would be much better to use tungsten which has  a similar density to gold at a much lower price than silver to maximize the profit on the scam.
  

I was refering to how roach seems to have a fetish for silver. I'm not sure if it would be possible to really scam people with fake gold today, people who are in the business of buying gold surely know how to check for authenticity... one would hope.

On another note, cereals doused in eggnog work surprisingly well.

  Oh yeah.  Eggnog and bacon make everything seem good.

[HairyMaclairy]

That's why you have a gap between your top buy and your bottom sell that is 2x your base interval. The gap is where the profit is made.

Admittedly, in my most comprehensive explanation, I explicitly left the reason for such 'as an exercise for the reader'. Perhaps I should have stated it.

lol yeah, I think I skimmed over that part...I get it now

strategy implemented on both the BTC:ETH and BTC:LTC pairs here and working reliably...albeit rather boringly

low risk, low reward, but I am a terrible swing trader so....

If the peg breaks, you will end up on the wrong side of the ledger. Keep that in mind.  It is not a low risk strategy.