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Question: Closing BTC Price June 28:
$0 - 1 (2.7%)
<$7,000 - 1 (2.7%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (2.7%)
$8,500-$8,999 - 2 (5.4%)
$9,000-$9,499 - 3 (8.1%)
$9,500-$9,999 - 10 (27%)
$10,000-$10,499 - 8 (21.6%)
$10,500-10,999 - 1 (2.7%)
$11,000-$11,499 - 2 (5.4%)
$11,500-$12,000 - 2 (5.4%)
>$12,000 - 4 (10.8%)
>$20,000 - 2 (5.4%)
Total Voters: 37

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21231353 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. (66 posts by 16 users deleted.)
Arriemoller
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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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kurious
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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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January 16, 2019, 06:12:42 PM

The 21 million limit and block reward reductions are not set in stone. All it takes is consensus and these things can be changed.
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January 16, 2019, 06:16:22 PM

The 21 million limit and block reward reductions are not set in stone. All it takes is consensus and these things can be changed.

Have fun forking into oblivion.
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January 16, 2019, 06:17:54 PM
Merited by kurious (1)

https://bitcointalk.org/index.php?topic=5090427.msg49266991#msg49266991
theymos answered some of our Grin musings ... and more
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January 16, 2019, 06:36:27 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

This will turn out to be one of the best decisions you ever made.
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January 16, 2019, 06:47:36 PM


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


Hah, lack of coffee and no proof reading before posting got me a little dyslectic there. Smiley Thx, fixed.

And I elaborated as well.

Quote
Satoshi's intent was privacy on the chain and that is paramount and a deal breaker in my mind if it is not currently included. BTC has not fulfilled that promise as of yet and a second layer solution is not acceptable.
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January 16, 2019, 06:53:19 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.

The Bolded is patently false and your premise and therefore your argument is based on a false premise and not substantiated.

Would you like to share with the rest of the class?

Nope /OpSec ...even though this account is not actively hidden




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January 16, 2019, 06:53:25 PM

Repost of a classic chart (source unknown):



no sense.
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January 16, 2019, 06:55:27 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.

Not those in "Economics 101"

https://bitcointalk.org/index.php?topic=5090427.msg49266991#msg49266991
theymos answered some of our Grin musings ... and more

thanks for the link. Smiley
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January 16, 2019, 07:08:24 PM

Repost of a classic chart (source unknown):



If this graph is real shiieet. Prepare to wait 3-4+ years to see $10k+ again. Now I feel like shit. From $200 to $20k was the best chance I ever had and I've seen it coming 7-8 months before it happened (when it was around $1500) and yet I didn't do much about it.

Now I have to get older for another 5 years.  Angry
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January 16, 2019, 07:13:40 PM

Repost of a classic chart (source unknown):



If this graph is real shiieet. Prepare to wait 3-4+ years to see $10k+ again. Now I feel like shit. From $200 to $20k was the best chance I ever had and I've seen it coming 7-8 months before it happened (when it was around $1500) and yet I didn't do much about it.

Now I have to get older for another 5 years.  Angry


I think that chart is miles off how it will play out to be honest. I’m no expert, far from it but it’s way too conservative timescale wise.

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January 16, 2019, 07:26:30 PM

Repost of a classic chart (source unknown):



If this graph is real shiieet. Prepare to wait 3-4+ years to see $10k+ again. Now I feel like shit. From $200 to $20k was the best chance I ever had and I've seen it coming 7-8 months before it happened (when it was around $1500) and yet I didn't do much about it.

Now I have to get older for another 5 years.  Angry

micgoossens
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January 16, 2019, 07:29:19 PM

^
that graph is really looking ugly MAN delete it from our minds Roll Eyes

micgoossens
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January 16, 2019, 07:31:14 PM



https://twitter.com/maxkeiser/status/1085568737267408903
bitserve
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January 16, 2019, 07:31:28 PM

^
that graph is really looking ugly MAN delete it from our minds Roll Eyes



I could live with it.
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January 16, 2019, 07:32:32 PM

https://www.reddit.com/r/Bitcoin/comments/agoh7c/we_are_blockstream_and_we_beam_bitcoin_down_from/ space. Ask us anything!
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January 16, 2019, 07:34:44 PM

The 21 million limit and block reward reductions are not set in stone. All it takes is consensus and these things can be changed.

Have fun forking into oblivion.
No question there will be a fork when backward compatibility stops and another when the 21 mil limit changes to endless.
You end up with endless coins and fork after fork.

Bitcoin SV sticks Hardcore to 21 mil limit and peer to peer a logical and sensible backup.
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