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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21334132 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (104 posts by 20 users deleted.)
bitebits
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Bitcoin != exchange rate


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January 16, 2019, 04:48:00 PM
Last edit: January 16, 2019, 05:06:31 PM by bitebits

^ drops the Micg
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micgoossens
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BTFD, on to 15K a coin !!!!


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January 16, 2019, 04:48:16 PM

^^
Small advice be or become a coiner and hang out @coiner places

Be a nocoiner and visit more suited threads to talk in
infofront
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Shitcoin Minimalist


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January 16, 2019, 04:50:43 PM
Merited by JayJuanGee (1), kenzawak (1)

Repost of a classic chart (source unknown):

Wekkel
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yes


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January 16, 2019, 05:00:32 PM

*remembering to hodl longer and stay alive at least until 2023*
JimboToronto
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You're never too old to be young.


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January 16, 2019, 05:07:01 PM

Good morning Bitcoinland.

Sideways again... currently $3616USD/$4792CAD (Bitcoinaverage).

Better than down I suppose.
___

Cool here in the jungle today. The locals call it "el norte" no matter which direction it blows in from. Not cold, just not hot.

It's still better than freezing in Toronto.
Hueristic
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January 16, 2019, 05:12:18 PM


Well, if it's infinite it won't be worth anything. That's Economics 101.

No it's not, that is a common misconception, deflationary emission can create security as well as lower volatility. There is no reason a currency should not restore lost or destroyed coins except to create a system that creates rarity of those coins and that is a SOV type system which has not been proven to be secure as of yet.

Standard economic models do not apply to crypto as they do not take the cost of the security of the currency into account.
Hueristic
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January 16, 2019, 05:23:03 PM


Indeed, it will be the Zimbabwean dollar of crypto.

Quote
If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

^^^--- what he said, even though it is a different context.

If you really want to understand this then there is a ton of material from alot more intelligent people than me that can explain it to you.
Hueristic
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January 16, 2019, 05:24:52 PM

A 'pebble' falling from several kilometers (without any acceleration except for gravity) will kill you I think. At least that's what I remember my calculation of over a decade ago.

Did you account for air drag, or did you only consider gravitational acceleration?

At that time it would have lost all of its rotation and probably would be just tumbling with added air drag. A parabolic shoot on the other hand.... But still most probably not deadly... if it was so unfortunate to hit someone in the head/eyes/neck. Which is like an extremely small probability in itself. A hit to the body of person with clothes would probably just bounce (not without some moderate impact pain depending on clothes thickness) and not penetrate.

just wrong

Fatalities from falling bullets are all too frequent. The classic scenario is middle eastern wedding celebrations where falling lead kills a member of the party.  Happens too much.

Very true.

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January 16, 2019, 05:26:34 PM

oh, was I being dense?

oops

+1 WOsMerit

Pleasantly sarcastic, never dense jojo.

present time is open to attacks or feared attacks.

ETH fork constantinople is postponed.

https://www.coindesk.com/ethereums-constantinople-upgrade-faces-delay-due-to-security-vulnerability
Incompetent children rushing i.e. forcing a fork. #Decentralized smart contracts. Roll Eyes

Thanks for sharing, indeed a worthwhile tweet storm. Seen some of the quotes before, but interesting when all put together.
Whenever someone uses Satoshi's Vision as a counter argument you can automatically assume that they've lost. This is science, not a religion. The tweet storm was nicely written.

+2 WOsMerit's

Congrats on ranking up !  Wink

Thanks...wish I could say I had noticed. Probably need another cup of coffee to start feeling truly heroic. I appreciate your tour of HK's hotspots...ty.

+1 WOsMerit

-snipped-

It's impossible to completely keep up with this thread if you have any life and don't carry a tether (smart phone or whatever:not usdt).

qft

+1 WOsMerit

Satoshi's intent was privacy on the and chain that is paramount and a deal breaker in my mind if it is not included. BTC has not fulfilled that promise as of yet.

Your algo is unraveling..more back testing required. /s

F*** off

+1 WOsMerit

Repost of a classic chart (source unknown):

-img snipped-

wut dis?



I suspect the answer might be in here.

https://ellaurora.com/about-us

Good morning -snipped-
___

Cool here in the jungle today. The locals call it "el norte" no matter which direction it blows in from. Not cold, just not hot.

It's still better than freezing in Toronto.
¡Buenas mañanas! Jimmie. Stay warm, stay thirsty my friend.
Bitcoinaire
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January 16, 2019, 05:32:48 PM

Repost of a classic chart (source unknown):



Leading up to halving price starts to move. Maybe it's different this time.
JayJuanGee
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January 16, 2019, 05:43:40 PM

Weeee! I just got paid $4300 for the inherited land. It was double than what I expected because of some error in my favour of the parameters in the documents. Now waiting for the money to arrive at CB. Then with no hesitation I will hit the button for a direct buy, I love to do that!  Grin I know that this sum is ridiculously small for many in this forum, but I am happy to increase my modest low 2 digit stash with 2BTC in a month. At these prices I could buy with my fucking salary in the shittiest country in the world only 2BTC in a year! My decision has always been to ignore the market pumps and dumps (I am not that good to predict esp. the dumps) and wait 2-3 years for my first sale. I hope to be able to buy a villa at the beach with part of my stash by then. I still have a firm belief that we will make to 30K-40K range by then. We shall see.

I don’t think anybody here criticises fellow WO posters for increasing their stash no matter how big or small it is.
Lots have more BTC than you but I guarantee lots have less too.

Keep buying & we will be rewarded. Congrats to you on the sale & soon to increase your HODL pile Smiley

Weeeeeee!

There were quite a few people struggling to be included in the at least 1BTC club in late 2017 and early 2018, and recently, that at least 1 BTC club has has become easier to achieve entrance. 

Surely, there are a lot fewer members in the double digits and above club, so each of us has our own goals about how many BTC to accumulate and considerations of whether we can move our goals upwards once we achieve the lower goals.  I have done so many times in my BTC experiences.  I also had to move my goal downwards after a fairly extensive hack (related to phone porting) that occurred for me in early 2017.
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January 16, 2019, 05:46:51 PM

I don't think anyone cares about Bakkt one way or another at this point.

What ever happened to everyone who was pouring their tiny hopes into bakkt and etf bringing about the early 2019 bullrun? Y hopium gone?

Hopefully we will lose everyone that is hoping for institutions to control anything BTC related. I am of the opinion that KYC (clamps on fiat portals) and CBOE/CME (derivatives on non existent coins) are 2 of the biggest threats BTC faces.
JayJuanGee
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January 16, 2019, 05:47:14 PM

^
@these prices, you Made a good deal

In a foreseeable future.... take your time and look back to Posts as these “reminder of what a great buy you Made right here”
I hope I won't regret it later about my bitcoin purchase. Grin

Do you have any specifics to share?
JayJuanGee
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January 16, 2019, 05:48:55 PM

Isn't it almost incredible how far the ATH or even $10K+ seems about now?

To the contrary, $10k seems incredibly near. Especially knowing that Bitcoin is still in it's infancy.

Don't say that!

I'm buying a house, I've nearly stopped my accumulation for 3 months. Only putting my forum earning on the side.

Once the moving is over I'll start accumulating again! Give me a few months left under 4k pleaaaaaaase

Yeah, we all need to wait and suffer in order that you can buy an additional .1BTC.   Roll Eyes Roll Eyes
Hueristic
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January 16, 2019, 05:52:56 PM

present time is open to attacks or feared attacks.

ETH fork constantinople is postponed.

https://www.coindesk.com/ethereums-constantinople-upgrade-faces-delay-due-to-security-vulnerability
Incompetent children rushing i.e. forcing a fork. #Decentralized smart contracts. Roll Eyes

Thanks for sharing, indeed a worthwhile tweet storm. Seen some of the quotes before, but interesting when all put together.
Whenever someone uses Satoshi's Vision as a counter argument you can automatically assume that they've lost. This is science, not a religion. The tweet storm was nicely written.

+1 WO

I love your 'feet on the ground' exploration of the Hong Kong BTC scene.

In respect of the Lightning Network I stumbled on this article:  https://www.theblockcrypto.com/2019/01/15/the-growth-of-the-lightning-network-has-been-remarkable-but-theres-a-catch/

Conclusion: a bit of centralisation going on in terms of network capacity, but the area is still young  Kiss

Not unexpected, but perfectly acceptable for micro payments.

Weeee! I just got paid $4300 for the inherited land. It was double than what I expected because of some error in my favour of the parameters in the documents. Now waiting for the money to arrive at CB. Then with no hesitation I will hit the button for a direct buy, I love to do that!  Grin I know that this sum is ridiculously small for many in this forum, but I am happy to increase my modest low 2 digit stash with 2BTC in a month. At these prices I could buy with my fucking salary in the shittiest country in the world only 2BTC in a year! My decision has always been to ignore the market pumps and dumps (I am not that good to predict esp. the dumps) and wait 2-3 years for my first sale. I hope to be able to buy a villa at the beach with part of my stash by then. I still have a firm belief that we will make it to 30K-40K range by then. We shall see.

That is the best plan. IOU +1sM
JayJuanGee
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January 16, 2019, 05:57:47 PM

Repost of a classic chart (source unknown):



Whoaza!!!!!

I am not sure if I like that, even though logically it makes a decent amount of sense.  The $160k in August 2023 seems like decently acceptable, but then again, by August 2023 we are going to be coming close to the 2024 halvening, which will likely be in early 2024 (meaning before May).
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January 16, 2019, 05:58:29 PM

So what's the plan guys? If Grin works out well, bitcoin devs shove all that tech onto bitcoin?
https://github.com/mimblewimble/grin/blob/master/doc/grin4bitcoiners.md

I don’t know that you could port Bitcoin onto Grin. So it is a threat.  

But their monetary policy is fuxxed.  Big mistake having an endless emissions.  Same trap Monero fell into.  

So that significantly reduces the threat.  

No that is untrue, an emission is a necessity for a currency that's goal is use and low volatility for a plethora of reasons while a cap is good for a SOV which Btc is.

Endless emission means no value, this is, literally, economics 101. No value means that it is useless. Those guys might be good coders but they know absolutely nothing about economics.
But don't take my word for it, just wait until their wishes meets reality.
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January 16, 2019, 06:00:42 PM

Repost of a classic chart (source unknown):



Leading up to halving price starts to move. Maybe it's different this time.

Looks different..  It has hit the '3000 in October 2019' level way earlier than that chart shows.  So 2023 looks pessimistic, but we will find out in time.  I think the price will be significantly above where we are now by autumn this year.  No ATH, but higher by a good deal.

New ATH? Sometime between late 2020 and late 2021, if the relationship to the halving and the roughly four year cycle holds.  YMMV.
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January 16, 2019, 06:03:26 PM

We already have Binance in Europe. Roll Eyes

Launches Binance Jersey

Crypto Exchange Binance Enters European Markets

According to the release, Binance is launching a new trading platform, dubbed Binance Jersey, designed for fiat-to-crypto trading of the euro (EUR) and British pound (GBP) with Bitcoin (BTC) and Ethereum (ETH) within Europe and the United Kingdom.

https://www.binance.je

https://cointelegraph.com/news/crypto-exchange-binance-enters-european-markets-launches-binance-jersey

Hmmm, won't be long before they start forcing KYC as well. Time to stop being lasy and get some cold storage going and get excess funds off of there. I hate fighting with the printer, only use it once a year or so and those cartridges drive me batty. Smiley

Did you account for air drag, or did you only consider gravitational acceleration?

I took an average pebble out my garden. It weighs 10 grams and has a mean diameter of about 20 mm. If we assume it were perfectly spherical with a drag coefficient of 0.47, travelling through air with standard density of 1.225 kg/m^3, and plug the figures into the formula for terminal velocity we get: sqrt((2*0.01*9.81)/(1.225*(3.14*0.01^2)*0.47)) = 33 m/s or 119 km/h. If we pipe that into E = 1/2*m*v^2 for energy, we get ~5.5 J or ~4 ft-lb.

Or in other words, I need Bitcoin to do something exciting.

Perfectly spherical bullets are way different to regular bullets that end up tumbling as soon as they lose the rotational speed with a way higher air drag.

Much of the penetration of a regular gunshot is thanks to its rotational speed. That's why pipeguns are not that effective, even at very short distance, unless properly directed against unprotected vital points (neck, eyes, temple, etc).

To the mooooooon!!! weeeeeeeeee Tongue

WO is a surprise box. I share this hobby, sports shooting, it seems that they understand a lot about ballistics. Wink

Oh, past year I decided to cancel/not renew my "sports shooting" license and sell my firearms. Now I am an officially unarmed civilian  Cry Cry

It was already pretty boring and expensive hobby with all the increasing legislation, requirements and taxes. I envy our American friends in the gun regulations.

Of course, United States is different. Cool

Yup, Cops stole all my guns, different.

Would you like to share with the rest of the class?
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January 16, 2019, 06:08:47 PM


Well, if it's infinite it won't be worth anything. That's Economics 101.

No it's not, that is a common misconception, deflationary emission can create security as well as lower volatility. There is no reason a currency should not restore lost or destroyed coins except to create a system that creates rarity of those coins and that is a SOV type system which has not been proven to be secure as of yet.

Standard economic models do not apply to crypto as they do not take the cost of the security of the currency into account.

Yes they do, they apply to everything that can be bought and sold.
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