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

[realr0ach]

A blockchain is not some type of magical 8th wonder of the world.  All it is is a ledger that requires a focal point for convergence.

"The printing press isn't some magical wonder of the world. It just applies ink to paper."

The printing press works as advertised; bitcoin does not.  I already typed why:

You can spam the word "decentralized" all you want like some type of late night infomercial conman, but that does not make it so.  All cryptocurrency are designed to centralize through either economy of scale, compound interest, or other means.  It is not possible to create a decentralized cryptocurrency.  The only way would be to use unprofitable PoW just like email PoW, but unprofitable PoW is an unworkable solution in practice and requires forced convergence.

A blockchain is not some type of magical 8th wonder of the world.  All it is is a ledger that requires a focal point for convergence.  The focal point is always something like stake, raw hash power expenditure (which is nothing more than externalized stake in practice), or some other variable that can be quantified where I can say that I have more of it than you do.  Where exactly do you see "decentralization" arising from such a paradigm?  You would need to be a fool to think so.

The only way such an idea would not be laughable at face value is if everyone who uses the system was required to be a miner, but that's obviously not possible due to massive monetary and intellectual capital required in creating chip foundries and the fact people can corner said technology and not share it.  Even if you could design it that way, the Pareto principle would still destroy it decentralization-wise anyway.  It's 100% not possible to create a decentralized digital currency.

[gentlemand]

You are indeed correct. I was confusing the 10% and 20% rate between lower and higher rate.

It is still worth splitting sells between now and after April 6th in order to take advantage of two lots of £11k tax free allowances and the benefit of not paying until 2020.

Nah. I encourage everyone to do what I do which is to burn your post and ideally not have an address to send it to.

[drays]

That sounds like the time I stared at my bunghole in the mirror.

I've been considering installing a Gopro in my toilet bowl as there are some very strange things going on down there, down there on me, not the toilet itself. I might wait for 8K though just to really pinpoint the exact problem.

Heh, just noticed "Gopro" sounds almost exactly like "copro"...  
After reading your post I wonder if its just a coincidence??

Amazing to see the diversity of topics inspired by crypto, and specially by the current market movements...  

[Torque]

In physical silver we trust

Why do you think that is?

I've got a piece of a theory: silver has moved heavily into industrial usage such as electronics, phones, military, etc. and the Powers That Be want to keep it cheap as possible forever.

Incidentally and despite our resident roach shill, I've been accumulating some for sure.

[gentlemand]

Huh, your post made me notice "Gopro" sounds almost exactly like "copro"...  
Is it just a coincidence??  

Hey, you just opened up a whole new market and crypto opens the door to Chinese tech and plagarism plus Japan's global lead in toilet technology to draw on.

You should also open a Twitch-style live streaming channel broadcasting from the bottom of toilets around the world.

[pacman7331]

Whale Pump and dump 3 hours apart.



I swear we need a Captain Ahab altcoin.

 

[realr0ach]

In physical silver we trust

Why do you think that is?

I've got a piece of a theory: silver has moved heavily into industrial usage such as electronics, phones, military, etc. and the Powers That Be want to keep it cheap as possible forever.

Incidentally and despite our resident roach shill, I've been accumulating some for sure.

It's generally believed the price is rigged on the commercial side, so it's kind of irrelevant what the spec position is.  What's more interesting is that paper volume the last year or two is something like 50% higher than when silver was at $50.  Peak volume tends to occur around peak price, so that's how absurdly rigged and ready to blow up this market is when you have sustained, enormous volume at the trough and nothing happening with price.  Price should already be like $75+ even within their rigged system!  Comex is also forwarding contracts to London and in a state of technical default.

Another interesting fact is the molybdenum price (the best ingriedient for attempting to fake silver just like tungsten for gold) just took off like a rocket.  It may have absolutely no correlation with govts/ETFs attempting to make fake 1000 oz silver bars, but still, kinda suspicious.  It doesn't really affect any real metal stackers since I can tell a real or fake 10 oz bar or 1 oz coin just by ear.  The fakes they're attempting to pass would be in 100-1000 oz bars held by govts and ETFs.

[RayX12]

Asholes from Wallstreet are playing with BTC.

[bitserve]

This price action is breaking my nerves.

[Anon136]

Incidentally and despite our resident roach shill, I've been accumulating some for sure.

It's truely amazing how much silver you can buy with a little bit of bitcoin. When I first got started in this in 2011 it was all about the precious metals but I hedged a little by taking like 10% of my PM net worth and putting it into crypto. Since you know they were competing for the same market and crypto tech was so novel and interesting. Now the amount of silver I can get with my bitcoin now is beyond my wildest dreams of the time. THANK YOU BITCOIN!

[pacman7331]

Holy shit looks like the Death Cross is possibly being averted!



 

[Lontonbit]

I love how the whales are playing pump and dump, aren't they adorable

[realr0ach]

Interesting, I just noticed not only was the Florida school shooter Jewish, but the Columbine school shooter as well.  Maybe instead of banning guns, we should just ban Jews?

[realr0ach]

Now the amount of silver I can get with my bitcoin now is beyond my wildest dreams of the time. THANK YOU BITCOIN!

Act now while supplies last:

[jbreher]

Tibanne?

[yefi]

Feel free to join me next fork, we can bath in the blood of a thousand noobs.

Sure. (If I ever end up in such a wretched and desperate state that my life becomes that of a sand fly.)

[babanana]

Potential bottoms?

~7670-7690 is our first.
~6950 is our second.
Then there is the double bottom...

And then... Tera will be in here to tell us all how we were told so...

I wanted to know as well. What is Tera's bottom call? I will move my order down there.

[Torque]

The most hilarious and rewarding thing about this downturn is watching the shitcoins get absolutely destroyed.

Flippening? Not a fkn chance in hell.

I sincerely hope shitcoin beliebers are rethinking their delusions about now.

[jbreher]

Is there still anyone out there believing we will go above 10k in the foreseeable future?

Foreseeable? Of course!

[jojo69]

You are indeed correct. I was confusing the 10% and 20% rate between lower and higher rate.

It is still worth splitting sells between now and after April 6th in order to take advantage of two lots of £11k tax free allowances and the benefit of not paying until 2020.

Nah. I encourage everyone to do what I do which is to burn your post and ideally not have an address to send it to.

Right?

It never ceases to amaze me that we sit here and talk about the state shaking us down for between a fifth and a third of our income like it is somehow normal.