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

[realr0ach]

The mark of a sophist is that he never admits making any mistakes of any kind. So prove that you are not one. Not with posts past this point, but with posts you have made before. If you think you can.

Jbreher is not a sophist because deep down him and most other people in this thread know all the stuff I say about bitcoin having zero fundamentals compared to silver and gold is true, and that's it's not even possible to create a decentralized digital currency in the first place, yet while knowing all this, he still shills for some obscure coin called bcash pretending it's the cure for all the world's problems solely in order to try and reel in some type of pump and dump profit.

So, no, nobody in this thread is a "sophist".  You are all just flat out scammers, pump and dumpers, whatever you want to call it.

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[infofront]

I strongly agree with what I think is your more general point that A) commodity money is important B) cryptocurrency is not a replacement or substitute for it

Mind explaining why you think commodity money will stay important? Genuinely interested.

Sure. Basically I don't think bitcoin makes a very good reserve asset. It isn't nearly as well suited for a base of the liquidity pyramid as gold is.



Part of what makes it poorly suited as a reserve asset is that technology improves over time. There is a risk that the leading cryptocurrency will always be overturned by new and better technology. Which is a good thing, just not a good thing if you want the properties of a stable long term bottom of the liquidity pyramid reserve asset. Interestingly there is an implication here that if bitcoin can win against all of the other alts and come to soundly dominate this sector it will more closely approximate the utility of gold as a reserve asset. But if it get's overtaken by ethereum or bcrap that could open pandoras box and doubly prove my point.

There is also an existential threat posed to bitcoin from forks that you wouldn't want in a reserve asset.

There is a technological threat, what if the network gets owned? What if it is built on assumptions that turn out to be wrong? It's well safe enough for speculation and payments and building businesses ontop of, but there is enough of a risk in this regard to hamper its utility as an ultra safe long term reserve asset.

TLDR; if you were to insert bitcoin into the pyramid it would fall in-between gold and circulating money, not next to gold, and certainly not beneath it.

The (possible) future:

[JayJuanGee]

So was that Asia's reaction? A $200 dip? Not to bad if we can build a fucking floor somewhere.

Asian reaction to what?

[JayJuanGee]

DOJ launching a criminal probe into BTC price manipulation.

Looks like we'll soon find out if the whales are artificially pumping the price

https://www.zerohedge.com/news/2018-05-24/doj-launches-criminal-probe-bitcoin-market-manipulation

Seems there is a constant attack on BTC that is ramping up, looks like the powers above have decide enough is enough.

I thought the price was artificially kept down, I mean seriously the sell orders are the ones that disappear and reappear like crazy while the buy walls stay the same.

Kind of seems like an Onion article to me.  What can DOJ do?  Maybe if we saw some specific charges then we would get a better grasp about the significance, if any, of something like this kind of an "investigation"?

[STT]

Sure. Basically I don't think bitcoin makes a very good reserve asset. It isn't nearly as well suited for a base of the liquidity pyramid as gold is.

Bitcoin isnt a reserve asset but its easily possible to argue against gold as the ultimate store of value also.  However gold has a track record of 5000 years or more which is hard to argue with.
On balance Bitcoin has to be rated as transactional, it is not the unchanging inert store of work done that gold represents.   Bitcoin is technology that certainly has to adapt and improve or it will be replaced.

What if it is built on assumptions that turn out to be wrong?

Gold could suffer from the idea a meteor full of it suddenly becomes available.   Again it seems unlikely as we've had many thousands of years for this event of over supply to occur, meteor mining is possible in future but I dont see the market for gold is changing.  Hence its a reserve, where as BTC is very much a changing and dynamic market.   BTC is a growth market, a part of competitive capitalism and must provide increasing utility or suffer devaluation.

All of these views are altered by the irregular distortion of viewing the world through US treasury debt prices.   Gold or anything will appear to be rising greatly while dollar itself is sinking and failing to return value to holders and users in its circulation which is the entire world.
Its possible for prices to rise while value is falling and we may not realise for years this effect is occurring, markets are inaccurate and suppressed in any correction by new money continually produced.



I back any mention of Exter's triangle and I do think deleveraging follows this process.   We will eventually set on this path regardless of new money, they cannot undo this it will burn out like a bad clutch and fail.

[JayJuanGee]

Bitcoin is the original shitcoin The whole crypto game is just one big bubble, with very little practical value created and mostly held up by high hopes and ignorance. I didn't get caught in the BS sales pitches with BTC when I played it, and I still don't do it with new alternatives. Just ride the waves of hype and have fun while playing it is my moto. Believing any of this is for people who invest in buying lambos

Yep, here's my investment alongside more precious metals than scrooge mcduck

 Meh.  You can't legally drive that on sidewalks....
Check out my Bitcoin extravagance.



Top speed 15 km/h and it's a hit with the ladies! (okay they're all over 65 but...)


edit: resize

I'm calling you out on this one, xhomerx10.   That looks like a one passenger vehicle (driver only); therefore, how could it be a hit with the ladies, unless you are talking to literally hit them with it, and only the 65 Yearold plus are either too slow to get out of the way or too decrepit in their ability to take a punch.

[jbreher]

What problem is that, embarrassingly rude person?

You are a sophist. That's the problem.

Izzat so? Funny that you've never engaged to point out whatever fallacious arguments I have been making. Of course, it's much easier to just slap a label on me, rather than show why the label applies.

The mark of a sophist is that he never admits making any mistakes of any kind. So prove that you are not one. Not with posts past this point, but with posts you have made before. If you think you can.

Pretty childish of you to create hoops you expect me to jump through. Especially as -- again -- you have not engaged to show evidence of any such behavior. Not to mention the sign that you have now redefined the word 'sophist' to convey some 'mark thereof', that has no bearing to any acknowledged definition of the word.

::le sigh::

One such refutation of your assertion: https://bitcointalk.org/index.php?topic=178336.msg17888659#msg17888659

[JayJuanGee]

Please don't try to provoke needless arguments with me. While talking with markj113, I really felt good that I'm talking to someone who isn't a religious fiend. Please don't ruin this experience for me Bad intentions bring out the worse in me

If you don't already have a room together, you should get one, and therefore you can privately hash out your "bonding" experiences with markj113, no?

Edit: May as well throw roachie poachie and Peter Schiff into your little PM admiring three-some (or four-some), no?  You can all go down the PM "intrinsically-value plated tubes," together.

[realr0ach]

The (possible) future:

https://tomluongo.files.wordpress.com/2017/11/crypto-exters-pyramid1.png

That picture is a complete joke and looks like it was created by a 12 year old shilling for Darkcoin or Digibyte.  It's 100% impossible for shitcoins to defeat silver and gold as the base of Exter's Pyramid.  Pretending not only bitcoin, but ALL 7000 shitcoins defeat silver and gold makes the picture dumbfoundingly bad.

[xhomerx10]

Bitcoin is the original shitcoin The whole crypto game is just one big bubble, with very little practical value created and mostly held up by high hopes and ignorance. I didn't get caught in the BS sales pitches with BTC when I played it, and I still don't do it with new alternatives. Just ride the waves of hype and have fun while playing it is my moto. Believing any of this is for people who invest in buying lambos

Yep, here's my investment alongside more precious metals than scrooge mcduck

 Meh.  You can't legally drive that on sidewalks....
Check out my Bitcoin extravagance.



Top speed 15 km/h and it's a hit with the ladies! (okay they're all over 65 but...)


edit: resize

I'm calling you out on this one, xhomerx10.   That looks like a one passenger vehicle (driver only); therefore, how could it be a hit with the ladies, unless you are talking to literally hit them with it, and only the 65 Yearold plus are either too slow to get out of the way or too decrepit in their ability to take a punch.

 I thought it was obvious - by design they have to sit on my lap.  Usually we go to the seniors center for discounted prime rib dinners $4.58 / plate and a game or two of shuffleboard.  Wednesday is Euchre night; my favourite.

[JayJuanGee]

[edite]

You recall lots 

That's because I am a stalker with a vivid magination...

member dat, afbitcoins.

 

[JayJuanGee]

Seems like your partner is too emotionally invested in your BTC investment.
<wordy words removed>

How is that my problem ? I'm chill. Just had my blood pressure measured yesterday at an appt and it's the lowest it's been in years.

Retirement is doing wonders for my mental well-being.

No hurry to sell in this market, and, TBH, I can cover my FY18 tax liabilities with other funds if need-be; have eggs in many baskets I can pick from thanks to good financial planning earlier in life.

Either way, I'm expecting Bitcorn to have recovered nicely by the time FY18 tax dues start looming.

If not, oh well. I'll deal with it when the time comes one way or another.

This whole Zen thing is working out pretty well so far...

I am just saying what it seems like because your partner seems to mention the price a lot, when the price is going down, and you even conceded, at one point, that he had kind of pressured you into selling a bit more than you had planned (or at least at a timing that you had not planned).  Accordingly, if you are sharing finances with your partner, and you are allowing your partner to influence your decisions, then his problem becomes some of your problem(s).  Say it isn't so, but you seem to have already conceded sufficient facts to admit to some of his influence over some of your BTC finances.

By the way, you know  ur selfie and your relationship better than the rest of us quasi-anonymous folks on the interwebs, so I am not suggesting that you have lost control over the situation, and ultimately, you are likely in a much better position than me to know whether you are still carrying out your btc planning and strategy per your own principles and practices rather than giving in to your partner's whims.

[Paashaas]

Xapo has implemented Segwit, adoption reached 40%

[realr0ach]

JayJuanGee, you just used the word partner so many times in one paragraph that I'm going to have to assume you're either a wild west outlaw, or more experienced in alternative lifestyle intercourse than Justin Trudeau.

[realr0ach]

Oh yea, now we're making progress:

https://dailystormer.name/elon-musk-goes-on-anti-semitic-rant-against-jewish-media-vows-revenge/

[JayJuanGee]

JayJuanGee, you just used the word partner so many times in one paragraph that I'm going to have to assume you're either a wild west outlaw, or more experienced in alternative lifestyle intercourse than Justin Trudeau.

You can assume all you want, you goofball nutjob, I am not going to join you in such a fantasy.  

You will just have to keep your teddy bear for those kinds of dreams:

[realr0ach]

The Google project JayJuanGee bot is getting pretty advanced now.

[TERA2]

A small possibility buy It may be that people finally realized bitcoin is nothing more than a pump&dump get rich quick ponzi scheme maybe?

Perestroika is coming, goyim.

This guys hand looks like he is getting Argyria.

[Elwar]

I remember on this forum when we used to welcome newbies to the forum and ask them to let us know if they have any questions. They'd say "thanks, still reading but will take you up on that if I do".

Now you see a newbie and think..."shit, signature campaigner trying to get his post count up. Shut up n00b."

[JayJuanGee]

...and you even conceded, at one point, that he had kind of pressured you into selling a bit more than you had planned

Not entirely true. I was hmm'ing and haw'ing back-and-forth, unable to make a decision, and Ginger Rick - my partner - merely provided the nudge I needed to pull the trigger.

He knew I was in a window to sell, but I was starting to go a bit crazy with the extreme volatility/slide, and Rick - my partner - was there as a sanity-check.

We each are independently wealthy and only mix funds in a joint account to pay for house-related stuff, groceries, bills, etc.

Rick - my partner - has his own BTC, but looks to me for advice sometimes, just like I ask him for advice/suggestions - Like...

Me: "Dude, I'm stressing out. Should I just pull the trigger at $xx,xxx ?"
Rick: "For fuck sakes man, sure. Why not ? It's not like you're dumping your entire bag."
Me: "Ok. Thanks dude. Love you honey-buns"
Rick: "Take me to bed or lose me forever..."
Me: ... goes to the pantry to fetch some vegetable oil. Grabs two bottles of cold water from the fridge. Pops a Glitter Shit capsule in his mouth on the way back to the bedroom ...

Sounds healthy...