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

[BitcoinNewbie15]

Remember the good ol' days when this was the place to find out wtf was happening with the price?

I remember those days. Something I have wondered and I've been meaning to ask, what happened to that wall observer bot? The one that would post the depth chart every few hours? It appears to be gone completely.

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[pacman7331]

don't go to 7800 before I get paid 

[Last of the V8s]

For the market to grow like we all hope it will, regular people are going to have to come in droves.

No, this is wrong. Current fiat (or any asset) wealth is not distributed evenly across the population, in fact it is well-documented and heralded as being increasingly concentrated in fewer and fewer hands. By this reason alone, relatively very few have to come to bitcoin to replace fiat as the dominant wealth storage and measurement mechanism.

This. +21million merits

Bitcoin is a capital project, for capitalists, except honest ones now. This brooks no more socialism, no more democratic blitherings about fairness and equality.
If you don't understand or don't get it, I have plenty of time to explain it to you, sorry.

[Torque]

For the market to grow like we all hope it will, regular people are going to have to come in droves.

No, this is wrong. Current fiat (or any asset) wealth is not distributed evenly across the population, in fact it is well-documented and heralded as being increasingly concentrated in fewer and fewer hands. By this reason alone, relatively very few have to come to bitcoin to replace fiat as the dominant wealth storage and measurement mechanism.

This is true. As Bitcoin continues to live on though, it will be the younger, newer generations of Average Joe that takes a chance with Bitcoin. They come into the working world with more disdain for the existing financial structure, less debt (except student loans), less skepticism of Bitcoin, less to lose and everything to gain.

Grandma and Grandpa ain't coming in droves, sorry. Grandma and Grandpa can't even afford to buy Precious Metals anymore, much less Bitcoin. Plus the MSM has mindfucked them to believe that Bitcoin is a scam.

[realr0ach]

Monero will be at "100%" in May 2022 after which a 0,87% tail emission commences indefinitely. Slightly better than gold and better than Dogecoin

AHAHAHA

Yes, because as we all know, once a PoW coin's block reward reaches zero, the tooth fairy casts a spell on it to turn it into "better than gold".  That's why there is not a single dead PoW altcoin so far and only 2000 new forms of gold!!!

...just kidding, all PoW coins function as Ponzi schemes in practice because the block reward subsidizes transaction fees and once it ceases, people all simply switch over to a different chain that still has a block reward running in order to keep the subsidy and not pay $500 per transaction.

Sorry had to quote this one. This proves that you're an idiot r0ach, as no miners are going to switch over to a dead coin that no one is buying or transacting with. So you think that zombie coins buy themselves now?

Your comment makes zero sense.  Go back to the drawing board; you have it completely backwards.  A PoW coin with no block reward subsidy IS A DEAD coin because transactions are no longer subsidized and lower overhead alternatives then mop the floor with it either in the form of:

A)  A different PoW coin with block subsidy still running

or

B)  Some other consensus algo with less overhead like proof of shit

Normally PoS wouldn't be able to win if PoW actually worked as advertised, but it doesn't.  It's just centralized vs centralized.  Also, you nooblords in this thread don't seem to understand adversarial mining works better the lower the block reward goes, which probably also blows up PoW in the end.  

So the real endgame is that PoW is not sustainable because there is no valid Schelling point to force everyone to use the same PoW chain, and even though PoW is designed to completely centralize, it manages to fool enough uneducated people for the time being to not go to zero.  But proof of stake is a more obvious interest-based, slumlord usury scam, and probably wouldn't tread water for long should there be an exodus from PoW.

There is no future in any of this garbage and silver and gold will destroy them in the end because they're all centralized with no fundamentals.  The only real application for cryptocurrency is federated chains, but nobody would want to use that as a store of wealth over physical metals.  Take a wild guess who does want to use federated chains, though?  The govt to enslave you.

[sirazimuth]

I wonder if they accept bitcoin?....

https://www.marketwatch.com/story/hospital-launches-rehab-clinic-to-treat-cryptocurrency-addiction-2018-05-29

[Torque]

I wonder if they accept bitcoin?....

https://www.marketwatch.com/story/hospital-launches-rehab-clinic-to-treat-cryptocurrency-addiction-2018-05-29

Fucking MSM, such targeting and FUD.

So where are all the clinics treating the penny stock trading addiction all these past couple of decades?

SMH

[d_eddie]

BLOOMBERG: Bitcoin Heads Toward $7,000 as Pain Returns on Gloomy Technicals
Since failing to regain the psychologically important $10,000 level on May 4, it has closed lower in New York in 12 out of 17 sessions.

Wait what? Bitcoin closed? New York? Sessions? Are they talking about futures, or does this editor just not know what he is talking about?

I think it's the editor.

[sirazimuth]

If that unmentionable troll simply copied and pasted the same
post for the next year or so,I wouldn’t notice anything amiss...

[realr0ach]

Fucking MSM, such targeting and FUD.

So where are all the clinics treating the penny stock trading addiction all these past couple of decades?

SMH

Whether it's "addictive" or not is the least of it's problems.  Shitcoins just add a few notches to the degeneracy of society based on financialization - trying to flip houses, flip stocks, and now flip imaginary valueless tokens instead of actually contributing to society by creating something of value.  

The Jew knows no other way to live than by rent seeking behavior or usury.  He does not work the land or any such activity.  Everything is based around some type of usury scam, and he has manipulated the law and entire system to benefit that activity and punish those who actually do create something.  He forces the goyim to emulate his demonic Jewish ways just to get by because there's no alternative in the system he's created without going some form of Amish and completely isolating yourself from civilization.

Luckily for humankind, a system entirely composed of parasites immediately collapses, so the clock is ticking and we won't have to put up with the current system much longer before the whole thing implodes and we go back to sound money (physical silver and gold) and people actually doing productive things with their lives instead of 7 billion Jews trying to scam each other.

[hisslyness]

Monero will be at "100%" in May 2022 after which a 0,87% tail emission commences indefinitely. Slightly better than gold and better than Dogecoin

AHAHAHA

Yes, because as we all know, once a PoW coin's block reward reaches zero, the tooth fairy casts a spell on it to turn it into "better than gold".  That's why there is not a single dead PoW altcoin so far and only 2000 new forms of gold!!!

...just kidding, all PoW coins function as Ponzi schemes in practice because the block reward subsidizes transaction fees and once it ceases, people all simply switch over to a different chain that still has a block reward running in order to keep the subsidy and not pay $500 per transaction.

Sorry had to quote this one. This proves that you're an idiot r0ach, as no miners are going to switch over to a dead coin that no one is buying or transacting with. So you think that zombie coins buy themselves now?

Your comment makes zero sense.  Go back to the drawing board; you have it completely backwards.  A PoW coin with no block reward subsidy IS A DEAD coin because transactions are no longer subsidized and lower overhead alternatives then mop the floor with it either in the form of:

A)  A different PoW coin with block subsidy still running

or

B)  Some other consensus algo with less overhead like proof of shit

Normally PoS wouldn't be able to win if PoW actually worked as advertised, but it doesn't.  It's just centralized vs centralized.  Also, you nooblords in this thread don't seem to understand adversarial mining works better the lower the block reward goes, which probably also blows up PoW in the end.  

So the real endgame is that PoW is not sustainable because there is no valid Schelling point to force everyone to use the same PoW chain, and even though PoW is designed to completely centralize, it manages to fool enough uneducated people for the time being to not go to zero.  But proof of stake is a more obvious interest-based, slumlord usury scam, and probably wouldn't tread water for long should there be an exodus from PoW.

There is no future in any of this garbage and silver and gold will destroy them in the end because they're all centralized with no fundamentals.  The only real application for cryptocurrency is federated chains, but nobody would want to use that as a store of wealth over physical metals.  Take a wild guess who does want to use federated chains, though?  The govt to enslave you.

Hi r0ach,

You have it all wrong, and I am not even sure you understand BTC and the thought processes of Satoshi Nakamoto. When BTC block rewards go down to ZERO, there will still be transaction fees to reward the miners. Will the fees be enough to sustain the mining activity? We will find out in Year 2037... Not sure if you will be alive..

Either block sizes will be keep small to ensure higher transaction fees and Layer 2 Scaling will be the norm and BTC onchain will be used as a settlement layer.

Or Block sizes are increase to allow more transactions to be included in a block, hence a larger transaction fee.

Currently the average transaction fee is about 0.125BTC per block and average block size is about 60%. Guestimate the value of BTC in 20 years from now and do the calculations. It will be worth it for miners!

[d_eddie]

Nice trend for the moment, but volume is still so-so. I'm still a bit skeptical.

[realr0ach]

You have it all wrong, and I am not even sure you understand BTC and the thought processes of Satoshi Nakamoto. When BTC block rewards go down to ZERO, there will still be transaction fees to reward the miners.

LOL.  Well golly jee! I had no idea transaction fees were recirculated as block reward instead of burned!  Wait, actually I did, and a static block reward is a direct subsidy to transaction fees via inflation tax on the rest of the coin holders, while a static block reward of zero provides no such subsidy.

You receive an F- on your post for pretending a static block reward of zero is no different than a block reward of 50.
 
The newbie section is that way---->

[hisslyness]

You have it all wrong, and I am not even sure you understand BTC and the thought processes of Satoshi Nakamoto. When BTC block rewards go down to ZERO, there will still be transaction fees to reward the miners.

LOL.  Well golly jee! I had no idea transaction fees were recirculated as block reward instead of burned!  Wait, actually I did, and a static block reward is a direct subsidy to transaction fees via inflation tax on the rest of the coin holders while a static block reward of zero provides no such subsidy.

You receive an F- on your post for pretending a static block reward of zero is no different than a block reward of 50.
 
The newbie section is that way---->

Again, you are assuming miners need to be subsidise to keep doing what they are doing. My local bus route was subsides by the government for 30years. Once the population grew and passengers jumped on board, the subsidy disappeared. Guess what, the bus route is still there!

EDIT: and the passengers still uses the bus route. they didn't just catch the bus in the next suburb or look for a bus that was subsidise!

Not asking or seeking a rating from you buddy! and obviously your conclusions are just a insight in your delusional thinking.

[Torque]

No point in trying to argue with r0ach, he is the king of Sophistry with his misdirection and completely made up bullshit.  

I'm glad I put him back on /ignore, I would advise you to do the same.

[Elwar]

[realr0ach]

You have it all wrong, and I am not even sure you understand BTC and the thought processes of Satoshi Nakamoto. When BTC block rewards go down to ZERO, there will still be transaction fees to reward the miners.

LOL.  Well golly jee! I had no idea transaction fees were recirculated as block reward instead of burned!  Wait, actually I did, and a static block reward is a direct subsidy to transaction fees via inflation tax on the rest of the coin holders while a static block reward of zero provides no such subsidy.

You receive an F- on your post for pretending a static block reward of zero is no different than a block reward of 50.
 
The newbie section is that way---->

Again, you are assuming miners need to be subsidise to keep doing what they are doing. My local bus route was subsides by the government for 30years. Once the population grew and passengers jumped on board, the subsidy disappeared. Guess what, the bus route is still there!

EDIT: and the passengers still uses the bus route. they didn't just catch the bus in the next suburb or look for a bus that was subsidise!

Not asking or seeking a rating from you buddy! and obviously your conclusions are just a insight in your delusional thinking.

You shills pretend that bitcoin has a captive audience monopoly over every transaction on the planet and doesn't have to face ANY competition.  Your transactions were essentially free at a block reward of 50, but let's say they're 'only' $200 at a block reward of 0 while not being subsidized any longer.  Since bitcoin is completely centralized, where in the flying fuck is the value proposition in paying $200 or more for a transaction on a centralized service that arbitrarily blacklists your non-fungible shitcoins when you can use a different centralized service for 1/100th the price or less?  There's many services that even have free transactions between users.

Bitcoin is a garbage store of value and can never defeat silver and gold as the base of Exter's Pyramid, so the only trait anyone would actually be interested in is either:  

A) using it as a pump and dump scam

B) using it for regulatory arbitrage (which is fast being stamped out by the day with govt regulations)

C) using it as a cheap payment system that would cost them less than using a normal bank or other financial services entity (not exactly going to happen with on-chain transactions and LN is an unworkable train wreck unless you make it completely centralized)

[hisslyness]

r0ach is a troll? can't be? he is the smartest retard I have ever met.

[Last of the V8s]

https://medium.com/@muradmahmudov/bitcoin-past-and-future-45d92b3180f1

lots of twitterati calling this a good and comprehensive account of where bitcoin is at

for the sane though there's #trilema, as ever

[RayX12]

I wonder if they accept bitcoin?....

https://www.marketwatch.com/story/hospital-launches-rehab-clinic-to-treat-cryptocurrency-addiction-2018-05-29

Fucking MSM, such targeting and FUD.

So where are all the clinics treating the penny stock trading addiction all these past couple of decades?

SMH

Cryptohodlers have bitcoin, that is the difference.