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

[Torque]

Back in the good ole days I mined Darkcoin(cool name back then)
Then it pumped to like $8 a coin and I dumped my stash, right before
it tanked back to $4 and I was like “ha ha, thanx suckers and I ain’t
buying back into this scammy-ass premine Dash nonsense!

Look how that worked out....

Just because something pumps to new highs somehow makes it NOT scammy is the biggest delusion in crypto.

Ripple, anyone? Bitconnect, anyone? Nxt, anyone? Dogecoin, anyone? I could go on...

Actually anything that didn't have the 'immaculate conception' of Bitcoin is suspect in my book. Which is to say all of the shitcoins.

[jbreher]

we have never had a technology that has fit into such a niche that is so likely to cause a lot of societal changes that are difficult to know in these early days

I am the god of hell fire, and I bring you!
Fire, I'll take you to burn.
Fire, I'll take you to learn.
I'll see you burn!

You've fought hard and you saved and earned,
but all of it's going to burn.
And your mind, your tiny mind,
you know you've really been so blind.
Now's your time, burn your mind,
You're falling far too far behind.
Oh no, oh no, oh no, you're gonna burn!

Fire, to destroy all you've done.
Fire, to end all you've become.
I'll feel you burn!

You've been living like a little girl,
in the middle of your little world.
And your mind, your tiny mind,
you know you've really been so blind.
Now's your time, burn your mind,
you're falling far too far behind.
Oooooooooooooo.

Fire, I'll take you to burn.
Fire, I'll take you to learn.
You're gonna burn!
You're gonna burn!
You're gonna burn!
Burn, burn, burn, burn, burn,
burn, burn, burn, burn, burn, ahhhhhhhhh
Fire, I'll take you to burn.
Fire, I'll take you to learn.
Fire, I'll take you to burn.
Fire, fire ahhhhh...

- Fire performed by Arthur Brown
- Songwriters: Jacob Louis Plant

As merely counterexample one.

You are just in a feisty argumentative mood, it seems. 

I would not categorize fire the same as bitcoin, in that fire was likely discovered and learned ways to harness fire; however, fire existed prior to various discoveries in how to harness it. Sure, you could argue that bitcoin and math existed prior to discovering it, but it seems that we are getting caught in the weeds of arguing for the sake of arguing rather than really making some kind of meaningful counter-point that undermines the importance of what bitcoin is really bringing to the table and its potentialities.

Just a fun way of pointing out your exaggeration. I agree that Bitcoin will likely bring about vast societal change. But the most of any technology ever? Fire? Wheel? Aqueducts? Agriculture? Sanitation? Wheel? Printing Press? Electricity? Mechanization? Radio? Internet?

[Anon136]

Just a fun way of pointing out your exaggeration. I agree that Bitcoin will likely bring about vast societal change. But the most of any technology ever? Fire? Wheel? Aqueducts? Agriculture? Sanitation? Wheel? Printing Press? Electricity? Mechanization? Radio? Internet?

Also the one that isn't here quite yet but is likely to eclipse all of those things into relative insignificance, AI.

[jbreher]

OK, the slow death of Dash must be painful,

Dash deserves to die.

Fun factoid: On a United flight Monday evening, on the seat-back in-flight entertainment [sic] system, what would be playing but a three-minute commercial for Dash? Weird.



Second time I saw this. First time was back in Jan. Long running campaign. Of course, whatshisname has a near-unlimited budget for that, what with the massive instamine, and the likely owning of 99% of all masternodes.

[buyandhold]

Dash deserves to die.

 Of course, whatshisname has a near-unlimited budget for that, .

This is probably what the ancients called tu quoque

[fabiorem]

Probably they have it split all over thousands of masternodes. I guess that is the main reason the distribution "looks" so good.

In reality, we are comparing oranges to apples here.

I had forgot about the masternodes. Those nodes are a kind of centralization, as only those with a thousand dash coins can set them.

So, bitcoin is the most decentralized currency, if we take that into consideration.

[infofront]

Probably they have it split all over thousands of masternodes. I guess that is the main reason the distribution "looks" so good.

In reality, we are comparing oranges to apples here.

I had forgot about the masternodes. Those nodes are a kind of centralization, as only those with a thousand dash coins can set them.

So, bitcoin is the most decentralized currency, if we take that into consideration.

We can never really say for sure which is the most decentralized, due to Monero's opaque blockchain.

[Toxic2040]

Good morning.
----------
Bitcoin
Throw all the hocus pocus TA out the window if you wish..but imho, FA and market sentiment has rarely been this bullish for bitcoin. Loads of good news and innovation coming from all quadrants. ccmf.

Our friend the fib line is back, garnering another resistance/support zone it appears.


A divergence cheat sheet. Just remember to learn these concepts but make them your own so to speak. Some techniques will work well for you, some will not. Focus on the ones that are simple and work best for you.

[cAPSLOCK]

https://twitter.com/dougpolkpoker/status/993581533012283393?s=21

Doug polk.... tone vays BET
What idiot would say under 6k ? 

Polk is a professional poker player (a good one) and thus is likely to play averages for a leveraged payoff.  Prop bets are not typically conservative moves.  That is what he is doing.  He is on the leveraged side of the bet.  If we wins, it is win/win since he is gaining on his BTC stack and also winning the 10k bet.  And he does not think he is going to lose, obviously.  But if he does he loses value and 10k.

Vays is a trader.  He is playing the hedge side of the bet.  In a manner of speaking he cannot really lose (depending on this BTC position).  If BTC goes up he pays Doug off with a portion of his increase.  If BTC goes down he loses value as well, but makes 10k.

The risk taker Poker pro vs. the hedge bet from the pro trader.  Kind of a natural match. 

[infofront]

Fireworks next week?

Tom Lee:

Already one of the largest crypto conferences in the world, attendance this year is up dramatically and coming at a time when Bitcoin/Crypto is down YTD. Hence, we expect the Consensus rally to be even larger than past years.

[afbitcoins]

Monero with its opaque blockchain. You don't know who stealth mined in huge quantities and you trust that there isnt an exploit or bug allowing someone to mint any quantity of XMR they like. You don't have a richlist. You can't analyise the blockchain at all, You assume its all good. Yay. Monero. Its name even means something in esperanto. And it has a wallet now

Yep, lacks Masternodes too... Oh noes!

OK, the slow death of Dash must be painful, but the best solution is surely to get out while you still can rather than lash out against another coin for simply being... better?

Who mentioned Dash? But yes Monero lacks that. But you have fluffypony so thats good. I guess.

[afbitcoins]

OK, the slow death of Dash must be painful,

Dash deserves to die.

Fun factoid: On a United flight Monday evening, on the seat-back in-flight entertainment [sic] system, what would be playing but a three-minute commercial for Dash? Weird.

Second time I saw this. First time was back in Jan. Long running campaign. Of course, whatshisname has a near-unlimited budget for that, what with the massive instamine, and the likely owning of 99% of all masternodes.

Feeling threatened by a better digital cash 

The budget comes from the treasury.Which is a portion of mining rewards devoted to bettering Dash.

[El duderino_]

https://twitter.com/dougpolkpoker/status/993581533012283393?s=21

Doug polk.... tone vays BET
What idiot would say under 6k ? 

Polk is a professional poker player (a good one) and thus is likely to play averages for a leveraged payoff.  Prop bets are not typically conservative moves.  That is what he is doing.  He is on the leveraged side of the bet.  If we wins, it is win/win since he is gaining on his BTC stack and also winning the 10k bet.  And he does not think he is going to lose, obviously.  But if he does he loses value and 10k.

Vays is a trader.  He is playing the hedge side of the bet.  In a manner of speaking he cannot really lose (depending on this BTC position).  If BTC goes up he pays Doug off with a portion of his increase.  If BTC goes down he loses value as well, but makes 10k.

The risk taker Poker pro vs. the hedge bet from the pro trader.  Kind of a natural match. 

I like the 10k+ bet more than the below 6K ..... and yeah he's a great player, i'm a player as wel but not like day in day out ..... its not my first job but like the game very much
its the same how i rolled into BTC....

[sirazimuth]

Back in the good ole days I mined Darkcoin(cool name back then)
Then it pumped to like $8 a coin and I dumped my stash, right before
it tanked back to $4 and I was like “ha ha, thanx suckers and I ain’t
buying back into this scammy-ass premine Dash nonsense!

Look how that worked out....

Just because something pumps to new highs somehow makes it NOT scammy is the biggest delusion in crypto.

Ripple, anyone? Bitconnect, anyone? Nxt, anyone? Dogecoin, anyone? I could go on...

Actually anything that didn't have the 'immaculate conception' of Bitcoin is suspect in my book. Which is to say all of the shitcoins.

Agreed.
Albeit not to defend the Dash community,but to their credit, at least they don’t make you tube
vids of a suited clown prancing across the stage bellowing like a retard...

[Torque]

Another big fallacy/delusion in the crypto community is the following (flawed) theory:

1. Bitcoin is a Veblen good due to its strong fundamentals as digital gold 2.0 and as secure value transfer medium. As it's price value increases, more people want it because it's viewed as becoming more valuable. (True)

2. All altcoins' price are somewhat tied to the price of Bitcoin (somewhat true, basically just a trading bot peg, nothing more)

-- thus --

3. All altcoins are also Veblen goods and are thus perceived more valuable as their price increases (Categorically FALSE! They aren't. 99.9999% are outright scams regardless of price, just as they were since their birth. The rest are just also-rans/ clones of Bitcoin.)

[Harlot]

Bitcoin is currently completing a head and shoulder pattern (which is bearish) and we are now in the 2nd and final shoulder which the current target would be 9,400$ - 9,600$, this might be a good time to sell BTC as we all know BTC is currently successful on doing bearish patterns compared to bullish patterns as of right now in this trend. Technically speaking the bulls are still in play and might make this right shoulder invalid as MACD and RSI is showing a hidden bullish divergence, the best part about it is the volume is increasing at the same time the price is increasing which yet again indicates that BTC might be bullish.

[kurious]

Monero with its opaque blockchain. You don't know who stealth mined in huge quantities and you trust that there isnt an exploit or bug allowing someone to mint any quantity of XMR they like. You don't have a richlist. You can't analyise the blockchain at all, You assume its all good. Yay. Monero. Its name even means something in esperanto. And it has a wallet now

Yep, lacks Masternodes too... Oh noes!

OK, the slow death of Dash must be painful, but the best solution is surely to get out while you still can rather than lash out against another coin for simply being... better?

Who mentioned Dash? But yes Monero lacks that. But you have fluffypony so thats good. I guess.

Well you did pick on poor little Monero first, old chap!   Had to even up the score.  Fair's fair, eh?

Yes, Fluffypony while generally respected is hardly as good looking as whatshername - Amanda B Johnson - I will grant you that.

Mind you, she isn't popular with everyone:

https://bitcointalk.org/index.php?topic=1740313.0

[sirazimuth]

Another big fallacy/delusion in the crypto community is the following (flawed) theory:

1. Bitcoin is a Veblen good due to its strong fundamentals as digital gold 2.0 and as secure value transfer medium. As it's price value increases, more people want it because it's viewed as becoming more valuable. (True)

2. All altcoins' price are somewhat tied to the price of Bitcoin (somewhat true, basically just a trading bot peg, nothing more)

-- thus --

3. All altcoins are also Veblen goods and are thus perceived more valuable as their price increases (Categorically FALSE! They aren't. 99.9999% are outright scams regardless of price, just as they were since their birth. The rest are just also-rans/ clones of Bitcoin.)

Veblencoin Ann coming soon!

[Hueristic]

W0W, Nothing gets by these guys!

The U.S. Federal Reserve system has been very interested in bitcoin lately and has released a bunch of reports from Federal Reserve leaders and researchers from different offices. This past Monday, the Federal Reserve Bank of San Francisco and a professor from Stanford University published a paper that concludes that bitcoin-based futures markets affected the cryptocurrency’s price patterns since Cboe and CME launched the products.

No fucking shit Sherlock. And Gates can't find a place to short, he's just too chicken shit. Lol

[Karartma1]

https://twitter.com/dougpolkpoker/status/993581533012283393?s=21

Doug polk.... tone vays BET
What idiot would say under 6k ? 

Polk is a professional poker player (a good one) and thus is likely to play averages for a leveraged payoff.  Prop bets are not typically conservative moves.  That is what he is doing.  He is on the leveraged side of the bet.  If we wins, it is win/win since he is gaining on his BTC stack and also winning the 10k bet.  And he does not think he is going to lose, obviously.  But if he does he loses value and 10k.

Vays is a trader.  He is playing the hedge side of the bet.  In a manner of speaking he cannot really lose (depending on this BTC position).  If BTC goes up he pays Doug off with a portion of his increase.  If BTC goes down he loses value as well, but makes 10k.

The risk taker Poker pro vs. the hedge bet from the pro trader.  Kind of a natural match. 

The bet should have been settled in Bitcoin not dollars. This way is no fun for the reasons you have perfectly explained. Their game, their rules but it would have been far better to have it finished with a bitcoin transaction.
No need to say which side I'm on