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

[fr4nkthetank]

Is this worrying to any of you veterans?

http://fortune.com/2018/03/20/bitcoin-price-blockchain-child-porn-ban-crime/

I'm usually able to shrug off MSM bitcoin FUD but this makes me nervous.

No thats 100% bullshit FUD crap.  Do not worry about it, in fact, place bitcoin keys in a safe place and just forget about it until 2021 or something like that.  We must be patient and wait it out.

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[600watt]

a few months ago a cab driver told me about the bad time his cousin is going through. she had been married to a guy who was beating her up so badly that she ended up with an injured back and had to hide in a     battered women's shelter with her two daughters who are now 4 and 12 years old. she moved far away from the former home but due to the injuries is not able to work anymore. multiple surgeries await her and it is not clear if she will ever be able to walk without crutches. he told me that they don't even have money to afford a kitchen.
me and my wife contacted this woman, visited her and decided to help. today we all went to a furniture store and bought a new kitchen. thank you bitcoin. thank you bitcoin community. without you we could not have done this. sry 4 ot.

[RedBloodWhiteBones]

Thank you for the reassurance gentlemen.

[El duderino_]

Seems like HairyMaclairy sold out BTC for tethers and now waiting to buy back in.

"Poosh sidevays. Print One Hundred Meelion tethars when he goez to sleeep, den pomp eet"

"pomp eet" is perfectly flemish .... dutch....

[Jacques_Bittard]

Is this worrying to any of you veterans?

http://fortune.com/2018/03/20/bitcoin-price-blockchain-child-porn-ban-crime/

I'm usually able to shrug off MSM bitcoin FUD but this makes me nervous.

I don't think that government regulations will pose a real threat anytime soon. They know for years already, that bitcoin is mostly used for illegal activities like drugs and child porn, but they aren't doing anything about it. They're possible the same people, who profit most from all this money laundering and the creation of a make-believe industry, that adds value to their fiat money. If they really wanted to stop this, then all of this would be worthless in a month.

[SidETH]

a few months ago...

Good for you! It's not all about lambos.

I have a warm feeling in my pants about the current situation. I think this might actually go somewhere.

[d_eddie]

too quiet

Seems like everyone lost their hopes to land on 20k.
I predict another short bear run 

(Of course I'm talking about the WOTPC thing!)

[Jacques_Bittard]

I expect to see some tears in 2h

[d_eddie]

I don't think that government regulations will pose a real threat anytime soon. They know for years already, that bitcoin is mostly used for illegal activities like drugs and child porn,

(more rants and FUD snipped)

Hey Frère Jacques... isn't "bittard" kind of a French equivalent for "dickhead"?
So your chosen name would be something like "Jack Dickhead", amirite?

TLDR; Username checks out.

[d_eddie]

I expect to see some tears in 2h

Not until Friday, I'd say. And some will be tears of joy.

[jojo69]

[d_eddie]

Jimbo and Jojo got together?

[ssmc2]

https://www.cnbc.com/2018/03/21/jack-dorsey-expects-bitcoin-to-become-the-worlds-single-currency-in-about-10-years.html

I like this dude

[ssmc2]

Speaking of yourself?

[bitebits]

Believe it or not there are everyday hardworking people who dont want to have to go through the gruelling stress of following markets and doing research and using exchange systems and they just want to hire someone else to manage their money for a modest return.

A lot of research has been done regarding the topic of active trading. Only a few can beat the market. On top of that you can cut that yearly 1-2% 'advisor fee', and let it snowball on top of it (compound interest, effect not to be underestimated).

Buy a low cost index fund like VTSAX / VTIAX and you are done. HODL is not just something invented by Bitcoiners.

[STT]

There's a difference between Being a FUDster and recognizing a downtrend. This year's gonna be bearish or flat. I doubt we'll see prices over $18K this year. I doubt we see prices below $5k this year, or ever again to be honest.

Would you recognise the latter statement as wildly bullish because over the whole spectrum of mainstream views thats where it would be placed.     If your average person recognised bitcoin would never fall below 5000 again, it would then boost the price alot nearer to 20,000 if not more.      That kind of solid backing, a hard value set to the price would be a gigantic step forward and so much it would probably result in a price much higher then the actual 5000.

I was looking at DGX which I think is linked to a gram of gold as its backing.   People believe that backing is there but then the actual price is like 10x the market price for a gram of gold.   So they speculate far beyond the backing to it.  I think that'd happen to bitcoin and actually does happen.    We dont have a solid base line price but obviously bitcoin has a basic utility and ongoing value minus any speculation.    A really bearish estimate I heard for basic value from people who say bitcoin is worthless but then go on to say Bitcoin will always be worth $200 from its use by 'the illegal's who presumably cant use dollar (actually they can but whatever)    So the market price is a multiple of that base worth, you saying $5000 is massive and very bullish imo

Bitcoin is very reliant on its population increasing.  It needs more users so thats my take on base worth, the speculators are estimating a future price to some extent.  Same dynamic occurs with stocks

[Jacques_Bittard]

Speaking of yourself?

I'm not shilling nonsense about coming of global currency.

"It's slow and it's costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable," Dorsey said in the report.

Bitcoin is able to do 14 transfers per second and it's mining costs over 1000$ per user a year. How the heck is more people having it going to fix this?!
At the end even he confesses that there are newer and better cryptos then bitcoin, somehow forgetting that he was shilling on bitcoin becoming the global currency. This guy doesn't know the heck he is talking about and is possibly having some kind of a mental breakdown.

[MoonIsBlue]

Speaking of yourself?

I'm not shilling nonsense about coming of global currency.

"It's slow and it's costly, but as more and more people have it, those things go away. There are newer technologies that build off of blockchain and make it more approachable," Dorsey said in the report.

Bitcoin is able to do 14 transfers per second and it's mining costs over 1000$ per user a year. How the heck is more people having it going to fix this?!
At the end even he confesses that there are newer and better cryptos then bitcoin, somehow forgetting that he was shilling on bitcoin becoming the global currency. This guy doesn't know the heck he is talking about and is possibly having some kind of a mental breakdown.

Bitcoin might not be the most technologically advanced blockchain but it has proven itself as opposed to all the other blockchains and crypto's. Its still in development aswell and a little patience is needed. I'm pretty sure BTC will scale in the future and will make most altcoins redundant. The internet didn't scale aswell early 2000 there we're many businesses giving up on it but it just needs time. The fact that we are talking about scaling is a milestone of itself. I'm pretty sure that we will also gradually move to renewable energy and green energy making the electricity consumption debate of BTC less relevant. I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies (  )

P.s. Just kidding

[Jacques_Bittard]

I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies (   )  

This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users.
The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains!

[fluidjax]

I should probably also point out that the the electricity consumption debate on BTC is being magnified by the media. The data centers of the olympics consume way more than Bitcoin does, but ofcourse we don't pay any attention to that. If you hear the media talking about electricity consumption try for yourself to atleast get a frame of reference on what such consumption means. They're just comparing it to countries but what about certain data centers and payment solutions? How does it compare to those? How does it compare to an industrial complex? Those are the things you don't hear. Everyone is just salty for not buying BTC for pennies (   )  

This is a popular form of whataboutism, that I have heard here before. People trying to justify the costly nature of bitcoin by comparing it to the incomparable. Just like you did here, by comparing the worlds nr1 athletic event with 3,6billion viewers to a speculative digital asset and with maximum 5 million active users.
The costs of running the bitcoin blockchain should be compared to the comparable - meaning to the costs of other blockchains!

No other blockchain is comparable to Bitcoin, because no other blockchain is decentralized, and in the end, that's all that really matters.