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

[infofront]

Now that I've freed up some sixty hours per week, I might have not only inclination but also time to follow up on some of these areas of inquiry.

Congrats!

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[Raja_MBZ]

Probably the funniest article I've ever read: https://www.independent.co.uk/voices/bitcoin-latest-price-concurrency-money-exchange-rate-analysis-a8424651.html

Bitcoin has fallen to its lowest point since November and will probably be totally wiped out

The last part of article includes the mega-hilarious stuff:

On scalability it pointed out that these currencies were now using enough electric power to run Switzerland. It follows that if they were to grow further there would not be enough power in the world to drive them. Stability, well – we have seen what has happened. And trust? The BIS thinks that the decentralised nature of cryptocurrencies is a weakness rather than a strength.

We will know the answer pretty soon. My instinct is that these cryptocurrencies will disappear in a puff of smoke. I just hope too many people are not too damaged when it happens.

Moreover, throughout the article, you'll find funny stuff like:

According to BitInfoChart, 87 per cent of all coins issues are held by 0.5 per cent of holders.

Even the account holding a single satoshi is included in their total "holders" percentage.

[JayJuanGee]

I don't think that core is paying anyone to troll...

With all the memory capacity of a gnat: https://twitter.com/adam3us/status/943876564856348673?lang=en

You are providing support that "core" has a marketing team?  Maybe this assertion flew over my head?



Edit:  fluidjax seems to have provided a more clear response on the topic.  Thanks fluidjax.

I don't think that core is paying anyone to troll...

With all the memory capacity of a gnat: https://twitter.com/adam3us/status/943876564856348673?lang=en

facts do matter! that's the most frustrating thing about interacting with some folks - they create so much false narrative and FUD, and confusion that's it's a large teams full time job to debunk and disprove! if we had less confusion, we'd have less drama.

Apparently this is the bit that proves Adam has employed a team of full time trolls... lol, what planet do you live on. That's nowhere near even the balance of probabilities.

[JayJuanGee]

27% of England’s Male Millennials Say Bitcoin Better Investment Than Property

Millennials Turning from Traditional Investments and Toward Crypto

let them  

Link or it didn't happen.  

Roger Ver's scam site bitcoin .com picked it up from http://www.getlivinglondon.com/pdfs/get_living_millennial_living_in_2018_report_first_look.pdf  ( https://archive.is/g6WkX )

You'd know that if you'd used a search engine on micgoossens' first line.

METHODOLOGY
This research was conducted online with n=3,065 millennials (aged 21 to 35 years old), living across the United Kingdom from 28th March – 4th April 2018. Results were weighted on gender overall and gender within each region of the United Kingdom to ensure representativeness.

Thanks for the link and the further elaboration.  I think that links help when making assertions that seem to be based on polls.

[HairyMaclairy]

It’s projection.  The preferred tool of bad actors everywhere. Because when they are later found to have committed misdeeds, then they can claim that both sides are just the same.

[infofront]

27% of England’s Male Millennials Say Bitcoin Better Investment Than Property

Millennials Turning from Traditional Investments and Toward Crypto

let them  

Link or it didn't happen.  

Roger Ver's scam site bitcoin .com picked it up from http://www.getlivinglondon.com/pdfs/get_living_millennial_living_in_2018_report_first_look.pdf  ( https://archive.is/g6WkX )

You'd know that if you'd used a search engine on micgoossens' first line.

METHODOLOGY
This research was conducted online with n=3,065 millennials (aged 21 to 35 years old), living across the United Kingdom from 28th March – 4th April 2018. Results were weighted on gender overall and gender within each region of the United Kingdom to ensure representativeness.

Thanks for the link and the further elaboration.  I think that links help when making assertions that seem to be based on polls.

In this video, Tom Lee talks a lot about how Cryptocurrencies are the preferred investment class of the millennial generation.
It's only 20 minutes or so - well worth watching IMO.

https://www.youtube.com/watch?v=GGberGnxiJk

[Elwar]

In this video Tommy Lee is much more interesting and it is only 6 minutes long.

https://www.youtube.com/watch?v=VWRYqyRi1yI

[Rosewater Foundation]

In fact, I quite enjoy the ride.

Ice man, I have no idea how you do it.
I'm emotionally drained. I'd check myself in somewhere if they'd have me.

Having equity in your investment helps.  Having a cushion of equity helps.  Having a plan to buy more if price goes down helps.  Having confidence that the BTC price is likely to go up in the future helps.

Cushions, pants, and confidence. What are luxury items some of us can no longer afford.

[JayJuanGee]

yes.

if segwit is doomed like anunymint is praising, people would lose trust in bitcoin and blockchain as a whole. that's why there is no advantage in storing coins on legacy addresses.

Praising? Who says he is happy about it?

Something that might be interesting to consider is why some of you seem to be so invested in the idea of segwit being the ultimate good that you call anyone who question it, even on a technical security front, names. What's up with that?

Because many BTC HODLers want to believe that the Bitcoin core team is headed in the right direction. They want to believe that BTC, in it's current state, is antifragile.

It is not pure "belief".  There is evidence to back up bitcoin being secure and ongoing attacks through physical attempts (such as spam), market manipulation and FUD spreading attempts.  So, anyone supporting and investing into BTC rather than pumping a bunch of alt coin and ICO nonsense gotta take "concern spreading" about BTC with a BIG ASS grain of salt.

Well, some people around here are treating this all like it's dogma.

Sure, there are going to be some folks who are like that, but I would imagine, you are mostly referring to a minority.  Folks looking in, are going to criticize bitcoin supporters like that, and generalize that it is like a BIG ass religion.  I might grant the point, if there were not actual solidly strong fundamentals behind BTC.  Alt coin pumping has way more religious attributes than bitcoin.. but whatever, I will grant that any of them, including bitcoin, could appear more like a religion if there is either some lack of understanding of its fundamentals or a failure to believe regarding the significance of some of the fundamentals.  I will also grant that there is a certain level of technicals, economics, politics, computer programming that must take some faith to accept because there are not too many people (even the really smart ones) who are going to understand all aspects of bitcoin, even if they specialize in some of them (including some of the developers not understanding some of the politics and economics, but they still end up supporting the right principles that cause bitcoin to serve as a stronger and stronger product of course with varying valuable use cases).

Reminds me of when I was in a class converting to Catholicism and I dare challenged the fact about Jesus actually being born on December 25th. The sister was aghast that I challenged this, and her reply was "because the church says so." Needless to say, I am no longer a practicing Catholic.

The whole experience might remind you of that, but of course, there are going to be considerable differences, and as many of us likely know there are likely a lot more holes in various religions whether we are referring to individual interpretation and practice or broader theories. 

[Rosewater Foundation]

In old skool degenerate news, Variety Jones has been extradited to the US.
https://www.deepdotweb.com/2018/06/30/suspected-silk-road-right-hand-man-extradited-to-the-us/

[JayJuanGee]

Thanks, infofront, for deleting my previous comment in this thread.  You OBVIOUSLY noticed I've began deleting my own posts in this thread.  Too many damn trolls in here who don't appreciate good analysis.

Feel free to delete more.  I'm slowly going through all of my posts to delete ANY posts I've made in this thread.  It's not worthy of my time and effort.

No problem. It's not good practice to go around promoting your own thread and tradingview site, while being a dick to people asking questions.

Well, that's too bad. While I am skeptical about TA's applicability to Bitcoin (at least at this early adopter stage), at least dmwardjr was always on-topic and very sharing with unique information.

His exit lowers the level of discourse.

I agree. I deleted the one promotional post he left behind during his effort to purge all of his posts.

This was harsh, but not a deleteable offense (he took care of that):

Seems like another one of those temper tantrum / rage quit scenarios of "I'm taking my marbles and going home."  hahahaha

[vphasitha01]

Monthly close is bear, daily is neutral, but more bear dominant, now waiting for weekly.

New daily pivots are:

Main pivot -6642
R1 - 7530 
S1 - 5500

[thejaytiesto]

post

At what point would you consider the segwit attack scenario expired? or it will be a constant realistic threat forever? What if it doesn't happen in 2019.. 2020.. 2025. At what point would you assume it doesn't happen (if ever)

The way I see it is, if you believe segwit is safe, then you have a bet opened against MP and co, anyone with power that doesn't like segwit basically, and this includes Jihan btw. On a long enough timeline if these forces collude you could lose that bet and then you are fucked, meanwhile if one holds 1coins then your btc is safe, and if Core ends up winning your btc is also safe. This gives you an incentive to keep coins in 1addresses already. Also if you need to "convince people to keep money in segwit addresses" for segwit to be safe it just shows it can't be safe, it's actually insane if that's the case. I dont know the technical details on this but i've kept my coins in 1addresses since segwit went live because of intuition. Any upgrades in bitcoin will always be controversial by default for whatever reasons, meanwhile no one is going to be able to defend going against the original format because the main point of bitcoin is always backward compatibility so who the fuck would be against that without being seen as an enemy. Therefore the default place to be is 1adrs.

PS: no, im not a big blocker or altcoiner. I dont understand why people assume that you are a bch fanboy if you criticize segwit in any way. Im not a fanboy of anyone, i dont care about anyone involved in these power wars, i just want my btc to be safe when they are done fucking each other up, and the conclusion ive arrived is i should keep my money in 1adrs, for reasons explained above.

[Torque]

The way I see it is, if you believe segwit is safe, then you have a bet opened against MP and co, anyone with power that doesn't like segwit basically, and this includes Jihan btw. On a long enough timeline if these forces collude you could lose that bet and then you are fucked, meanwhile if one holds 1coins then your btc is safe, and if Core ends up winning your btc is also safe. This gives you an incentive to keep coins in 1addresses already. Also if you need to "convince people to keep money in segwit addresses" for segwit to be safe it just shows it can't be safe, it's actually insane if that's the case. I dont know the technical details on this but i've kept my coins in 1addresses since segwit went live because of intuition. Any upgrades in bitcoin will always be controversial by default for whatever reasons, meanwhile no one is going to be able to defend going against the original format because the main point of bitcoin is always backward compatibility so who the fuck would be against that without being seen as an enemy. Therefore the default place to be is 1adrs.

Jihan Wu, Roger Ver, and the corrupt miners gang astroturfed this latest bullshit segwit FUD in order to scare Bitcoiners into using legacy addresses instead of SW. Purely because they are getting desperate now - coins aren't moving, and they need coins to move and they need all the transaction fees they can get.

Plain and simple.

[JayJuanGee]

In fact, I quite enjoy the ride.

Ice man, I have no idea how you do it.
I'm emotionally drained. I'd check myself in somewhere if they'd have me.

Having equity in your investment helps.  Having a cushion of equity helps.  Having a plan to buy more if price goes down helps.  Having confidence that the BTC price is likely to go up in the future helps.

Cushions, pants, and confidence. What are luxury items some of us can no longer afford.

You have to be exaggerating a bit, no?

I understand that you might not have been as bullish as you should have been about bitcoin in earlier times, but still haven't you made any money in bitcoin? 

You have been around long enough to get 3 digit BTC.. but let's say you really screwed up and your average cost per BTC is around $3k... .. aren't you still up 2x? 

Couldn't be as bad as you are making out the situation, even understanding that BTC prices are down about 70% from the mid-December 2017 peak.

[Torque]

Blah blah blah more garbage ramblings

[JayJuanGee]

27% of England’s Male Millennials Say Bitcoin Better Investment Than Property

Millennials Turning from Traditional Investments and Toward Crypto

let them  

Link or it didn't happen.  

Roger Ver's scam site bitcoin .com picked it up from http://www.getlivinglondon.com/pdfs/get_living_millennial_living_in_2018_report_first_look.pdf  ( https://archive.is/g6WkX )

You'd know that if you'd used a search engine on micgoossens' first line.

METHODOLOGY
This research was conducted online with n=3,065 millennials (aged 21 to 35 years old), living across the United Kingdom from 28th March – 4th April 2018. Results were weighted on gender overall and gender within each region of the United Kingdom to ensure representativeness.

Thanks for the link and the further elaboration.  I think that links help when making assertions that seem to be based on polls.

In this video, Tom Lee talks a lot about how Cryptocurrencies are the preferred investment class of the millennial generation.
It's only 20 minutes or so - well worth watching IMO.

https://www.youtube.com/watch?v=GGberGnxiJk

Yes.  I agree.  I watched it, and surely his bullish bitcoin expectations has some expectations that younger generation demographics is going to help to push bitcoin/crypto currencies, and that fairly major changes have already occurred based on the practices of the younger generation.  Thanks for the link.

[Rosewater Foundation]

I understand that you might not have been as bullish as you should have been about bitcoin in earlier times

I sunk as much into corn as a poor witless lad could muster and then some, went without fancy meatballs for weeks that year. I'm sure we've been over this.

[JayJuanGee]

Blah blah blah more garbage ramblings

A poor and witless man[lad] will protect his ego before he will protect his Bitcoins.

Yes... everyone do what troll anunymint suggests, and that way your coins will be safe.. panic, everyone.

[JayJuanGee]

I understand that you might not have been as bullish as you should have been about bitcoin in earlier times

I sunk as much into corn as a poor witless lad could muster and then some, went without fancy meatballs for weeks that year. I'm sure we've been over this.

I don't want to repeat... but if you did what you say, then you should be "sitting pretty" about now.