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

[Torque]

Vitalik plays dumb
https://twitter.com/peterktodd/status/1068528442155515904

Supporters of all these altcoins are clouded by bias and are missing the very core of something: redundancy.

In that I can make a perfect clone of *any* coin now, including Bitcoin, give it all the features, attributes, security, and issue rate of a great coin, even with no pre-mine, I can give it the very same "immaculate conception" as Bitcoin, etc., etc.

So with all of that, should this altcoin I create just automatically be deemed as having value? Just because I launch it into existence? No.

What it has is redundancy. To Bitcoin.

If I create a new clone of Linux is it better than Linux? No, it's just redundant.
If I create a new clone of an iPhone is it better than Apple's iPhone? No, it's just redundant.
If I create a new clone of Facebook is it better than Facebook? No, it's just redundant.

And on and on and on... redundant things are worthless things. See the recent fate of Google+ as an example.

[1713993611]

1713993611

[Ibian]

Vitalik plays dumb
https://twitter.com/peterktodd/status/1068528442155515904

Supporters of all these altcoins are clouded by bias and are missing the very core of something: redundancy.

In that I can make a perfect clone of *any* coin now, including Bitcoin, give it all the features, attributes, security, and issue rate of a great coin, even with no pre-mine, I can give the very same "immaculate conception" as Bitcoin, etc., etc.

So with all of that, should this altcoin I create just automatically be deemed as having value? Just because I launch it into existence? No.

What it has is redundancy. To Bitcoin.

If I create a new clone of Linux is it better than Linux? No, it's just redundant.
If I create a new clone of an iPhone is it better than Apple's iPhone? No, it's just redundant.
If I create a new clone of Facebook is it better than Facebook? No, it's just redundant.

And on and on and on... redundant things are worthless things. See the recent fate of Google+ as an example.

Quibble: Having one or more redundant engines on a boat can be highly valuable.



Although going overboard is possible with anything.

[Torque]

Quibble: Having one or more redundant engines on a boat can be highly valuable.

Quibble: Your analogy suxs and couldn't be more full of relevance fallacy

[infofront]

Wife redundancy is till quite popular in some circles. It seems like too much trouble to me.

[Last of the V8s]

ulp

2k coins sold so far to chad whale on finex at 4250
shorts down by 1k, rest must be cash buys

[Ibian]

Wife redundancy is till quite popular in some circles. It seems like too much trouble to me.

Actually, it could be easier than having one if they get along. One problem with living in what we call families compared to tribal times is that they have less people to talk to, which might be why they have a tendency to turn the man into a quasi-girlfriend (who they then cheat on because he is suddenly not as hot as he used to be). With two wives they can chatter with one another, leaving the man to be a man. Problem is that it can't work on a national scale without a lot of men dying one way or another.

[realr0ach]

Hey whoa, I'm not trying to censor you, many of us here are good with XMR, most, however, have the r0ach on ignore and repeated quoting of him will get you ignored

Many of us have kike shills like Jojo69 and HairyMcLairy on ignore.  Repeated quoting of kike shills will get you ignored or banned.  Shilling for evil cults like Judaism is not allowed in any civilized, 1st world country.

[degxtra1]

no @roach, everybody knows you can't breath without reading all posts here 

[lightfoot]

Wife redundancy is till quite popular in some circles. It seems like too much trouble to me.

Actually, it could be easier than having one if they get along. One problem with living in what we call families compared to tribal times is that they have less people to talk to, which might be why they have a tendency to turn the man into a quasi-girlfriend (who they then cheat on because he is suddenly not as hot as he used to be). With two wives they can chatter with one another, leaving the man to be a man. Problem is that it can't work on a national scale without a lot of men dying one way or another.

I will say it is really nice. Also nice to have the wife off with someone else every so often, they can deal with her shit....

Same old problem boring. Different problems, interesting.

[jojo69]

been a long time since we had a really good war

[PoolMinor]

https://www.blockchain.com/btc/tx/257b4a8848541996857043e6d2f6319edddf5abde2776f4b49bb9e773cc4414c etc
something something segwit addresses
anyone have any info or guesses about who this might be please?

No idea. Didn't know about that twitter account before. How unusual are movements like those?

I find interesting that the amounts seem to be bunches of $100M at current price..... maybe OTC sales?

There was a rumor that someone was attempting to sell 200K BTC OTC, and they might not be able to find the buyer.

https://bitcointalk.org/index.php?topic=317658.msg48166457#msg48166457

[yefi]

You pay slightly over the market price but I quite like buying on Localbitcoin’s. They have an escrow type service that protects both buyer & seller.

Escrow does not protect you if the buyer pays from a hacked bank account, so you need to be careful if you trade with anyone who isn't a regular on there. The trusted name system can help - don't release unless the buyer's name matches.

[realr0ach]

Let's see if we can get any honest commentary on this train of buffoons posting on Twitter.  Ok, done.

[Ibian]

been a long time since we had a really good war

Right? And it's not far off now, things are really accelerating. Unfortunately it will be one of the bad ones, not a firecracker like the last one.

[cAPSLOCK]

Vitalik plays dumb



https://twitter.com/peterktodd/status/1068528442155515904

Vitalik is an overrated mess. Exactly the opposite of Peter Todd.

[realr0ach]

Right? And it's not far off now, things are really accelerating. Unfortunately it will be one of the bad ones, not a firecracker like the last one.

To know what's going to happen, first you would have to be able to figure out things like the whole "Q" bullshit is just (((the powers that be))) attempting to stall for time.  Why are they trying to stall?  There's plenty of evidence from Wikileaks, the Hillary emails, and the Epstein trail alone to have all these people at places like DYNCORP put in front of firing squads or in prison for child sex trafficking.  And it's not just Dyncorp, it's Hollywood, most or all high level organized Jewry (Allen Ginsberg was like the leader of NAMBLA for fucks sake), tons of congress, senate, the list goes on.

So their plan is to stall with fake Q bullshit and other nonsense until they can pull off one of two options:

1)  Create tons of false flags to try and confiscate all guns - then they can safely get away with letting the economic system implode, declare martial law, introduce new debt based digital only slave currency, and have even more power than before and get away with everything.

2)  Attempt to start war with Russia (or anyone) - then use that as cover to declare martial law, confiscate metals, change to new digital only scam currency, do whatever they want and get away with everything

The fact Trump is NOT calling them out on any of the false flags sure as fuck seems like he's on their side and not yours.  If he wasn't, he'd have them imprisoned for attempting them and be tweeting about it.  David Hogg would not be walking around free like the pissant he is, nor would George Soros.  They'd be in front of a firing squad.  So Trump is either on their side, or he's waging the least effective, most softball war against an enemy ever conceived.  

If he was legit, he would have gone the military tribunal route from the get go if the "courts are compromised".  If the entire fucking military command structure is compromised, then get on Tweeter and tell people that while also listing all of their crimes and let low level enlisted + the people use the 2nd amendment to take care of it themselves.

[JayJuanGee]

Bitcoin was created as a reaction to the latest recession, but have always worked in a continuous uptrend.
A recession might make bitcoin a place to run to when stocks and shares go down, in that case price will go up. Or bitcoin might be what you sell to make ends meet when your stock and shares are down, in which case the price will go down.

we simply do not know how bitcoin works in a recession, it might not reach any new ATH until the recession is over.

I agree we don't know how it will work exactly, but my hunch is a recession will drag it down since it is seen as an "extremely high risk" investment. This is the category of investment most likely to tank first in a stock market crash. For the longest time there was no correlation between BTC and stock market movement but that began to change last year when Wall Street started moving in.

Bitcoin only has the potential to be a safe haven investment compared to the dollar if in response to a new crash the feds begin a new game of QE that makes the last one look like Little League. Otherwise the dollar is the go-to investment during a recession.

I like my new hat by the way, fits pretty comfortably.

I too think it will tank, but I also think it will recover faster than the stock market. What worries me is that we might get a very long crypto winter.
If we do get another spike before the coming recession I will sell most of my stash, and buy back in the recession low, which might come to be an epic low.

How are you going to know that the next BTC spike is temporary?  All spikes are temporary or they are not spikes.
How you going to know if BTC prices are going to correlate with the stock market?  I never said I knew that.
How you going to know when to buy back your BTC, if you do sell "most of your stash?" I will have to make a educated guess.

By the way, if your stash is less than 1 BTC, then maybe it does not matter too much, even though you should still take incremental measures rather than betting on what seems to be a pretty weak theory, at least from what I have read from you so far. Nice try, I'm not telling you how big my stash is, and I don't know what "theory" you are referring to, The world economy goes in bust/boom cycles, that's a fact, if that's what you are referring to.

Part of the seeming craziness of your plan is that you are planning to bet BIG on further BTC down, even though BTC is currently in about a 80% correction area, but you seem to be expecting a decent amount of more down... yet the better gamble would seem to cautious about how much moar down is likely to happen when there has already been about 80% down.

Bitcoin also goes in cycles, of course there will be a down after the next boom.

I am not saying that bitcoin does not go in cycles; however, there can be periods of time in which the UP outpaces the downs and even if you speculate that there is going to be more down, such down does not happen.

That occurred in late 2015 in the $200s, that occurred in mid 2016 in the $500s, that occurred several times, so your framing of the situation suggests that you believe that you will be able to get in lower.. and perhaps even lower than what actually ends up happening.

I am not saying that I know which way the BTC price is going to go or how the cycles are going to play out, but just asking you how you are going to determine at what points to get back in.

I also don't like to play around with very much of my BTC stash at all, so I remain largely a HODLer and an accumulator, so of course when the price goes down, there can be some regrets that the value of my overall stash is falling in value, but overall I am presuming UP and I don't take any chances to get tricked out of my BTC.

I think that there is something in my mindset and practice that places value in terms of the number of BTC that I can accumulate rather than the amount of fiat that I can accumulate. I have nothing against fiat, but it seems to me that fiat value will likely just naturally (or at least relative to BTC) go up by focusing on accumulating BTC.. and NOT taking BIG chances with the quantity of BTC that are put at risk (such as selling with an intention to buy back lower).

[Spaceman_Spiff_Original]

Well this was rather depressing.
The biggest myths in cryptocurrency investing today and what would cause a new all time high
https://blog.goodaudience.com/the-biggest-myths-in-cryptocurrency-investing-today-and-what-would-cause-a-new-all-time-high-d6010657f01d

oh god yes so depressing. people like that shouldn't be allowed to publish their 'thoughts' at all

Better analysis than an average news article, but he still gets a number of things wrong imho.

[Last of the V8s]

sorry

[Ibian]

Right? And it's not far off now, things are really accelerating. Unfortunately it will be one of the bad ones, not a firecracker like the last one.

To know what's going to happen, first you would have to be able to figure out things like the whole "Q" bullshit is just (((the powers that be))) attempting to stall for time.  Why are they trying to stall?  There's plenty of evidence from Wikileaks, the Hillary emails, and the Epstein trail alone to have all these people at places like DYNCORP put in front of firing squads or in prison for child sex trafficking.  And it's not just Dyncorp, it's Hollywood, most or all high level organized Jewry (Allen Ginsberg was like the leader of NAMBLA for fucks sake), tons of congress, senate, the list goes on.

So their plan is to stall with fake Q bullshit and other nonsense until they can pull off one of two options:

1)  Create tons of false flags to try and confiscate all guns - then they can safely get away with letting the economic system implode, declare martial law, introduce new debt based digital only slave currency, and have even more power than before and get away with everything.

2)  Attempt to start war with Russia (or anyone) - then use that as cover to declare martial law, confiscate metals, change to new digital only scam currency, do whatever they want and get away with everything

The fact Trump is NOT calling them out on any of the false flags sure as fuck seems like he's on their side and not yours.  If he wasn't, he'd have them imprisoned for attempting them and be tweeting about it.  David Hogg would not be walking around free like the pissant he is, nor would George Soros.  They'd be in front of a firing squad.  So Trump is either on their side, or he's waging the least effective, most softball war against an enemy ever conceived.  

If he was legit, he would have gone the military tribunal route from the get go if the "courts are compromised".  If the entire fucking military command structure is compromised, then get on Tweeter and tell people that while also listing all of their crimes and let low level enlisted + the people use the 2nd amendment to take care of it themselves.

Presidents get shot you spaz. He is not a dictator nor can he be if he wanted to.