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

[infofront]

I could never figure why Warren Buffet is so comfortable with big government, giant QE programs that are unable to unwind and the general threat to the economy (and so the people) from excessive debts.    So I guess I cant be surprised he is dead against BTC but being all in favour of a cotton note that costs more to make then nominated value written on it.   Thats a good analogy for the inefficiency of government in general but he can see no advantages or advancements in the blockchain network.

I think they both great on evaluating company value and markets to some extent but neither is qualified to dismiss all alternatives to debt based money.   They have a strong bias in benefiting from the status quo, thats all I have to assume leads them to such a strong conclusion

He makes his money off of the status quo. He sees Bitcoin as a threat to his empire.

[Biodom]

They still use cheques in the USA.

In 2008 I had to explain to a 20 something employee what a cheque was and how she needed to take it to the bank to deposit it. She had never seen one in her life.  

To be fair, I haven’t seen one since.  I haven’t even touched cash for a couple years now except for one parking lot on the English seaside which trapped my car.  

I like cash, but, yes, the use of it is very limited.
Checks in US are mostly used for one-off payments, especially cashiers checks.
Reason: it takes zero $ to write and/or deposit a check, yet it costs $30 ($15+$15) to do a bank wire.
ACH is mostly free, but takes a few days typically.
Nobody uses checks to pay for groceries or movie tickets.
Some small businesses also OK with checks because they don't have to pay 3-5% to credit card companies.

[HairyMaclairy]

We finally have free instant bank transfers.  I can now get fiat out of my bank account into an Bitcoin exchange in less than 30 seconds. It’s pretty impressive. Funny enough they had been talking about it for years and it came out immediately after everyone went nuts for crypto.

[jojo69]

I use cash for everything except online purchases.

We all should.  The State would love nothing more than to abolish it once and for all so they can track our every move.

It is a "use it or lose it" kind of thing.  It is up to each of us to keep the cash infrastructure operational.

[HairyMaclairy]

That’s why we have Bitcoin

[jojo69]

That’s why we have Bitcoin

Yeah...ummmm

couple problems with that

[bitserve]

I use cash for everything except online purchases.

We all should.  The State would love nothing more than to abolish it once and for all so they can track our every move.

It is a "use it or lose it" kind of thing.  It is up to each of us to keep the cash infrastructure operational.

I do it all the time. We all should, yeah... but it's EOL is coming. I don't think there's no turning back at this point. I have already accepted it.

Fortunately we do have crypto. At least until even stricter KYC/AML controls even for purchases....

Oh... and I think I have never said one (main?) of the reasons I got into Bitcoin in 2013 was because I realised cash had its days counted. So.. thanks for that... or not... it's complex... lol

I loved the idea of having some funds completely "out of the system" (besides cash buried somewhere). "Unfortunately", Bitcoin has become so successful that it
 has a lot of probabilities of becoming also "part of the system". That's good and bad at the same time. As I said, it's "complex".

[HairyMaclairy]

First breakout due end of April or earlier.

[HairyMaclairy]

I loved the idea of having some funds completely "out of the system". "Unfortunately", Bitcoin has become so successful that its has a lot of probabilities of becoming also "part of the system". That's good and bad at the same time. As I said, it's "complex".

Go overseas for a holiday and while you are there open a bank account.  I have bank accounts around the world.  Offshore debit cards also useful. 

 

[bitserve]

I loved the idea of having some funds completely "out of the system". "Unfortunately", Bitcoin has become so successful that its has a lot of probabilities of becoming also "part of the system". That's good and bad at the same time. As I said, it's "complex".

Go overseas for a holiday and while you are there open a bank account.  I have bank accounts around the world.

I don't have that much "surplus" cash to really need that. Otherwise I would have opened a bank account in Gibraltar as some people I know have.

I would like to open a USA account (for my crypto dealings) and I use to go to Las Vegas every once in a while but I don't think it is so easy, is it??

[HairyMaclairy]

I did it in 20 minutes.  Just walked into a branch and told them I was moving to the US and buying a house and needed a bank account and could they please give me some information on their mortgage packages.  They have sales targets to meet.

You don’t need much cash in the account - just above the minimum to hold it open.  Think of it as an open escape hatch.

What I really want is a Chinese bank account but haven’t figured out how to get one without a residents permit.

[Hueristic]

I could never figure why Warren Buffet is so comfortable with big government, giant QE programs that are unable to unwind and the general threat to the economy (and so the people) from excessive debts.    So I guess I cant be surprised he is dead against BTC but being all in favour of a cotton note that costs more to make then nominated value written on it.   Thats a good analogy for the inefficiency of government in general but he can see no advantages or advancements in the blockchain network.

I think they both great on evaluating company value and markets to some extent but neither is qualified to dismiss all alternatives to debt based money.   They have a strong bias in benefiting from the status quo, thats all I have to assume leads them to such a strong conclusion

He makes his money off of the status quo. He sees Bitcoin as a threat to his empire.

The same reason why congress never gets anything accomplished, they are all bought by those that want the keep status quo.

[bitserve]

I did it in 20 minutes.  Just walked into a branch and told them I was moving to the US and buying a house and needed a bank account and could they please give me some information on their mortgage packages.

You don’t need much cash in the account - just above the minimum to hold it open.  Think of it as an open escape hatch.

Let's talk theoretically... If I went there for a holiday and withdrew a couple tens of thousands from a (several) crypto ATM... could I just walk into a bank branch with my spanish TOURIST passport, open an account, deposit the cash and control it remotely via online banking?

[jojo69]

Go overseas

 

yeah...couple problems with that

[Hueristic]

I loved the idea of having some funds completely "out of the system". "Unfortunately", Bitcoin has become so successful that its has a lot of probabilities of becoming also "part of the system". That's good and bad at the same time. As I said, it's "complex".

Go overseas for a holiday and while you are there open a bank account.  I have bank accounts around the world.

I don't have that much "surplus" cash to really need that. Otherwise I would have opened a bank account in Gibraltar as some people I know have.

I would like to open a USA account (for my crypto dealings) and I use to go to Las Vegas every once in a while but I don't think it is so easy, is it??

I get 2 or 3 offers a month offering to pay me $200-300 just to open an account. BTW mine just ripped me off about $450, I got $60 back today and have to waste my time again tomorrow to sort out the rest, the fuckers.

[Hueristic]

I think it's safe to assume that some banks do keep scans. It's been ages since I opened an account, but I'm pretty sure they made photocopies of my ID.

All banks do that.

Have oppened accounts 3 weeks ago and you better believe they kept everything...
IDs, invoices, proofs of housing...

I just showed an ID about a year ago when opening an account and they didn't copy it as far as I can remember. Actually I have opened 2 in the last couple of years and didn't do anything but show my ID.

I dunno, maybe they copied my license I seriously can't remember but I do know that is all I provided.

[HairyMaclairy]

I did it in 20 minutes.  Just walked into a branch and told them I was moving to the US and buying a house and needed a bank account and could they please give me some information on their mortgage packages.

You don’t need much cash in the account - just above the minimum to hold it open.  Think of it as an open escape hatch.

Let's talk theoretically... If I went there for a holiday and withdrew a couple tens of thousands from a (several) crypto ATM... could I just walk into a bank branch with my spanish TOURIST passport, open an account, deposit the cash and control it remotely via online banking?

Not Spanish but that’s exactly what I do.  Don’t be my wife and forget your password.  If one bank doesn’t let you, try another.

[HairyMaclairy]

Go overseas

 

yeah...couple problems with that

You don’t need to show ID to go over the border into Mexico.  At least not last time I did it.

[bitserve]

I did it in 20 minutes.  Just walked into a branch and told them I was moving to the US and buying a house and needed a bank account and could they please give me some information on their mortgage packages.

You don’t need much cash in the account - just above the minimum to hold it open.  Think of it as an open escape hatch.

Let's talk theoretically... If I went there for a holiday and withdrew a couple tens of thousands from a (several) crypto ATM... could I just walk into a bank branch with my spanish TOURIST passport, open an account, deposit the cash and control it remotely via online banking?

Not Spanish but that’s exactly what I do.  Don’t be my wife and forget your password.  If one bank doesn’t let you, try another.

Interesting. But now I am scared they would just let me open the account, deposit the money and just fucking lock my account and my money sometime later.

I know I can deal with banks by staying perfectly clean but... in that case.... don't know, probably too risky.

Yeah, I am a pussy when it comes to money.

[Hueristic]

Whose statistical methods were quite airy-fairy

With that appropriate introduction, I would like to welcome our new friend.  The 100 month moving average, sitting at the extraordinary value of $1,623. 

I wish I believed in this shit.