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Question: Will bitcoin ever go below $10K again in your lifetime?
Yes - 50 (58.1%)
No - 36 (41.9%)
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 22728042 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. (148 posts by 37 users deleted.)
Biodom
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February 09, 2019, 01:46:31 AM
Last edit: February 09, 2019, 02:43:21 AM by Biodom

An interesting point from Pomp:

https://www.reddit.com/r/Bitcoin/comments/aoms2f/people_are_going_to_be_so_shook_when_the_wealthy/

Quote
People are going to be so shook when the wealthy of tomorrow are the Bitcoiners of today

Would not bother me one bit.
Rewatched the "Social network" recently.
Was Eduardo worthy the current $9bil, most of which is probably the facebook stock?
He wasn't even with the company apart from the initial short stint there, "immortalized" by the movie.
His initial $1000, then 19K contribution was probably one of the best investments done by anyone, EVER.
All random, of course.

Therefore, if some schmuck (or genius  Grin) bought 20K bitcoin in 2010 for $3k bucks, so be it.
https://cointelegraph.com/news/software-engineer-buys-20000-btc-in-2010-quits-job-to-travel-around-globe

I remember seeing historical reddit posts where someone was selling 10K btc for $25 or something like this (maybe $50, cannot find it now).

Even 1-10BTC might be very serious money later on since an average $$ millionaire can get only 0.3 btc (or less).
The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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realr0ach
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February 09, 2019, 01:51:11 AM

Interesting point from Pomp:

https://www.reddit.com/r/Bitcoin/comments/aoms2f/people_are_going_to_be_so_shook_when_the_wealthy/

Quote
People are going to be so shook when the wealthy of tomorrow are the Bitcoiners of today

This is what you see people spam in the Poloniex trollbox right before something implodes to zero.
JayJuanGee
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February 09, 2019, 01:52:51 AM

I just hope we are still young when the $100K party comes. It will be almost surreal if it ever comes to reality. There's a chance though.

We are all going to be in crutches, wheelchairs and with personal assistants and oxogen tanks.  

Sucks to be HODLers.
jojo69
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February 09, 2019, 01:58:15 AM

Bullshit it was a media show, that's why CNN was on scene for the arrest. It was intimidation and bullshit.

I have to say I agree.

I think we must resign ourselves to the fact that this is how things are going to be done from here on out...until all pretenses of due process are abandoned.
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February 09, 2019, 01:58:36 AM

Is anybody disgusted with how ALL crypto goes up in unison with bitcoin, as if they are all on and the same?
This has to stop after five years of btc and others being in the public eye.
Ridiculous.

All crypto is shit except Bitcoin.  This should not come as a surprise to anyone on this board.  Metcalfe’s law, first mover advantage, natural monopoly and all that.

All shitcoin = shit and more shittie is that I probably of my +- 15% that I have in shitcoins I do own the most shittie ones, how shitF***ed is that
Gonna get myself totaly wasted on that
And thx for the MCDonald work read, I hate the F***ing shitjob here.....
I’m in year 7 of wasting time as the Guy you wrote about dammit i’m in a shitF***ed position right now SHIT

Goose

Start here.  It’s free.  Teach yourself to program.

https://www.udacity.com/course/intro-to-computer-science--cs101

There is BIG money for people who understand money, crypto and programming

Mic has (way more) the intelligence to learn it easily but he probably doesn't have the right "personality" to really focus on that task. He is too much of an extrovert guy than a "nerd" even if he has some traits like his outstanding poker skills.

Which is probably a good thing.

Thx man, still don’t make me a to smart looking Guy, Maybe i have getting things a little easy last few years, how I got introduced into crypto, how my boy took care of me with every single thing, Made every single thing for me etc
Most of this is of-course in my own hands by NOW ... probably everything (except a few thing we do together and thats running with him ....)

But thx bitserve for those kind Words

Wait till you Guys meet this lunatic @the 100K party
(Don’t Ask me to much question IRL Then) Roll Eyes haha lol
And drink Some with me and have Some good laughs Cheesy

I just hope we are still young when the $100K party comes. It will be almost surreal if it ever comes to reality. There's a chance though.

sometimes I wonder if you are crazy or your mind is 100% imaginary. you keep talking about 100k as is like going to next days. even if BTC reach 100K it will not happen before 10 years. are you promoting BTC on bitcointalk?
bitserve
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February 09, 2019, 02:04:10 AM

Is anybody disgusted with how ALL crypto goes up in unison with bitcoin, as if they are all on and the same?
This has to stop after five years of btc and others being in the public eye.
Ridiculous.

All crypto is shit except Bitcoin.  This should not come as a surprise to anyone on this board.  Metcalfe’s law, first mover advantage, natural monopoly and all that.

All shitcoin = shit and more shittie is that I probably of my +- 15% that I have in shitcoins I do own the most shittie ones, how shitF***ed is that
Gonna get myself totaly wasted on that
And thx for the MCDonald work read, I hate the F***ing shitjob here.....
I’m in year 7 of wasting time as the Guy you wrote about dammit i’m in a shitF***ed position right now SHIT

Goose

Start here.  It’s free.  Teach yourself to program.

https://www.udacity.com/course/intro-to-computer-science--cs101

There is BIG money for people who understand money, crypto and programming

Mic has (way more) the intelligence to learn it easily but he probably doesn't have the right "personality" to really focus on that task. He is too much of an extrovert guy than a "nerd" even if he has some traits like his outstanding poker skills.

Which is probably a good thing.

Thx man, still don’t make me a to smart looking Guy, Maybe i have getting things a little easy last few years, how I got introduced into crypto, how my boy took care of me with every single thing, Made every single thing for me etc
Most of this is of-course in my own hands by NOW ... probably everything (except a few thing we do together and thats running with him ....)

But thx bitserve for those kind Words

Wait till you Guys meet this lunatic @the 100K party
(Don’t Ask me to much question IRL Then) Roll Eyes haha lol
And drink Some with me and have Some good laughs Cheesy

I just hope we are still young when the $100K party comes. It will be almost surreal if it ever comes to reality. There's a chance though.

sometimes I wonder if you are crazy or your mind is 100% imaginary. you keep talking about 100k as is like going to next days. even if BTC reach 100K it will not happen before 10 years. are you promoting BTC on bitcointalk?

If you know how to read you will see I not only doubt it will ever reach $100K but, in case it does, also doubt it will come anytime soon. You know how to read, don't you?
encycrypto
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February 09, 2019, 02:14:21 AM

Bitcoin Hashrate Hits 3-Month High

https://www.reddit.com/r/Bitcoin/comments/aoimpn/bitcoin_hashrate_hits_3month_high/

Interesting point from Pomp:

https://www.reddit.com/r/Bitcoin/comments/aoms2f/people_are_going_to_be_so_shook_when_the_wealthy/

Quote
People are going to be so shook when the wealthy of tomorrow are the Bitcoiners of today

This is what you see people spam in the Poloniex trollbox right before something implodes to zero.

XD XD XD
kingcolex
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February 09, 2019, 02:21:39 AM

Is anybody disgusted with how ALL crypto goes up in unison with bitcoin, as if they are all on and the same?
This has to stop after five years of btc and others being in the public eye.
Ridiculous.

All crypto is shit except Bitcoin.  This should not come as a surprise to anyone on this board.  Metcalfe’s law, first mover advantage, natural monopoly and all that.

All shitcoin = shit and more shittie is that I probably of my +- 15% that I have in shitcoins I do own the most shittie ones, how shitF***ed is that
Gonna get myself totaly wasted on that
And thx for the MCDonald work read, I hate the F***ing shitjob here.....
I’m in year 7 of wasting time as the Guy you wrote about dammit i’m in a shitF***ed position right now SHIT

Goose

Start here.  It’s free.  Teach yourself to program.

https://www.udacity.com/course/intro-to-computer-science--cs101

There is BIG money for people who understand money, crypto and programming

Mic has (way more) the intelligence to learn it easily but he probably doesn't have the right "personality" to really focus on that task. He is too much of an extrovert guy than a "nerd" even if he has some traits like his outstanding poker skills.

Which is probably a good thing.

Thx man, still don’t make me a to smart looking Guy, Maybe i have getting things a little easy last few years, how I got introduced into crypto, how my boy took care of me with every single thing, Made every single thing for me etc
Most of this is of-course in my own hands by NOW ... probably everything (except a few thing we do together and thats running with him ....)

But thx bitserve for those kind Words

Wait till you Guys meet this lunatic @the 100K party
(Don’t Ask me to much question IRL Then) Roll Eyes haha lol
And drink Some with me and have Some good laughs Cheesy

I just hope we are still young when the $100K party comes. It will be almost surreal if it ever comes to reality. There's a chance though.
Will be a fun occasion if it happens, I look forward to getting my hat made and wearing it to the event.
bitserve
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February 09, 2019, 02:22:02 AM

I just hope we are still young when the $100K party comes. It will be almost surreal if it ever comes to reality. There's a chance though.

We are all going to be in crutches, wheelchairs and with personal assistants and oxogen tanks.  

Sucks to be HODLers.

We can always send our assistants to make some awesome explosions and fireworks with the oxygen tanks. Sounds fun to me.
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February 09, 2019, 02:41:40 AM
Last edit: February 09, 2019, 02:51:42 AM by bitcoinminer42

Regardless, the whole "learn to code" thing could probably be considered a decent investment in the 80's, 90's, and early 2000's, but now with full blown global labor arbitrage everywhere, it doesn't seem like that great of a position when you have to compete with people who will work for 1/4th to 1/10th of what you will.  The effectiveness of tariffs to stop the work from being outsourced is much lower than other fields too.  

Have you looked at the video game industry and whole 'app store' bullshit lately?  It's an obvious huge bubble as well.  90% of these game devs are going to be getting the axe or going bankrupt and it will be far more brutal than the old Atari era industry crashes.  We are currently at the trough of the commodity super cycle (no, bitcoin is not a real commodity), so people invested in real world goods and industry should be making a killing soon while 'intellectual capital' will probably be taking a major hit.

Of course when I say "industry", I don't mean index stocks where the PE ratio is completely laughable like Amazon and everything else.  I mean the rise of commodity prices in general and people who benefit from that like miners and others.

calm down.... maybe the costs are 1/10 in india or 1/6-1/8 in the middle east... but what about the quality? cost for setting up such projects? communications overhead? cultural clashes? and so on and so forth...

maybe u can do some product development like this but integrating complex systems who fits customer needs.... nah... story of cost savings by <near|off>shoring are fairy tales told by the management.

i've seen a lot of projects dying due to missmanagement and wrong beliefs in the posibilities of shoring.

it's like buying a german/japan car or a chinese/US lunchbox  Grin

u'll get what u pay for  Tongue

and please start distinguish between programming, development engineering and integrating... even programming is not everbodies taste... building good, stable, secure, user-friendly systems which are scalable and reliable is much harder
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February 09, 2019, 02:50:38 AM

so one merit for u to be that missionary  Cheesy
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February 09, 2019, 02:54:55 AM

so one merit for u to be that missionary  Cheesy

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February 09, 2019, 02:57:22 AM

Bob offer to pay him 90% fiat 10% bitcoin just to get him started. He can take that risk. 
encycrypto
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February 09, 2019, 02:58:29 AM

Regardless, the whole "learn to code" thing could probably be considered a decent investment in the 80's, 90's, and early 2000's, but now with full blown global labor arbitrage everywhere, it doesn't seem like that great of a position when you have to compete with people who will work for 1/4th to 1/10th of what you will.  The effectiveness of tariffs to stop the work from being outsourced is much lower than other fields too.  

Have you looked at the video game industry and whole 'app store' bullshit lately?  It's an obvious huge bubble as well.  90% of these game devs are going to be getting the axe or going bankrupt and it will be far more brutal than the old Atari era industry crashes.  We are currently at the trough of the commodity super cycle (no, bitcoin is not a real commodity), so people invested in real world goods and industry should be making a killing soon while 'intellectual capital' will probably be taking a major hit.

Of course when I say "industry", I don't mean index stocks where the PE ratio is completely laughable like Amazon and everything else.  I mean the rise of commodity prices in general and people who benefit from that like miners and others.

calm down.... maybe the costs are 1/10 in india or 1/6-1/8 in the middle east... but what about the quality? cost for setting up such projects? communications overhead? cultural clashes? and so on and so forth...

maybe u can do some product development like this but integrating complex systems who fits customer needs.... nah... story of cost savings by <near|off>shoring are fairy tales told by the management.

i've seen a lot of projects dying due to missmanagement and wrong beliefs in the posibilities of shoring.

it's like buying a german/japan car or a chinese/US lunchbox  Grin

u'll get what u pay for  Tongue

and please start distinguish between programming, development engineering and integrating... even programming is not everbodies taste... building good, stable, secure, user-friendly systems which are scalable and reliable is much harder

Roach isn't talking much bs today, he does have a point there. The people of poor countries all across the globe are now beginning to master the coding, and the day when they'll have just about good quality as top tier countries' programmers, the situation will be catastrophic for coders from rich countries. Plus the remote setups definitely gives the option of saving a big chunk of budget if you're starting something related to programming.
bitcoinminer42
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February 09, 2019, 03:12:28 AM

Regardless, the whole "learn to code" thing could probably be considered a decent investment in the 80's, 90's, and early 2000's, but now with full blown global labor arbitrage everywhere, it doesn't seem like that great of a position when you have to compete with people who will work for 1/4th to 1/10th of what you will.  The effectiveness of tariffs to stop the work from being outsourced is much lower than other fields too.  

Have you looked at the video game industry and whole 'app store' bullshit lately?  It's an obvious huge bubble as well.  90% of these game devs are going to be getting the axe or going bankrupt and it will be far more brutal than the old Atari era industry crashes.  We are currently at the trough of the commodity super cycle (no, bitcoin is not a real commodity), so people invested in real world goods and industry should be making a killing soon while 'intellectual capital' will probably be taking a major hit.

Of course when I say "industry", I don't mean index stocks where the PE ratio is completely laughable like Amazon and everything else.  I mean the rise of commodity prices in general and people who benefit from that like miners and others.

calm down.... maybe the costs are 1/10 in india or 1/6-1/8 in the middle east... but what about the quality? cost for setting up such projects? communications overhead? cultural clashes? and so on and so forth...

maybe u can do some product development like this but integrating complex systems who fits customer needs.... nah... story of cost savings by <near|off>shoring are fairy tales told by the management.

i've seen a lot of projects dying due to missmanagement and wrong beliefs in the posibilities of shoring.

it's like buying a german/japan car or a chinese/US lunchbox  Grin

u'll get what u pay for  Tongue

and please start distinguish between programming, development engineering and integrating... even programming is not everbodies taste... building good, stable, secure, user-friendly systems which are scalable and reliable is much harder

Roach isn't talking much bs today, he does have a point there. The people of poor countries all across the globe are now beginning to master the coding, and the day when they'll have just about good quality as top tier countries' programmers, the situation will be catastrophic for coders from rich countries. Plus the remote setups definitely gives the option of saving a big chunk of budget if you're starting something related to programming.

read what i wrote....

i work for companies with such settings since decades Grin
there are many issues on top but yeah... it can work... but the case why doing this changed during the last years... it's less saving money... it's more about having some "programmers" at all...
the market of free developers is fished out.

and even those countries will become more rich and produce personal needs on programming resources.

maybe it's just because programmers are the last species who will be replaced by robots  Grin

but i agree... if you are just a programmer with no other skills. it will get harder for you in the future


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February 09, 2019, 03:13:44 AM

Schelling point.
Your theory is wrong. Wrong as in the labor theory of value wrong.
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February 09, 2019, 03:31:00 AM

Bullshit it was a media show, that's why CNN was on scene for the arrest. It was intimidation and bullshit.

I have to say I agree.

I think we must resign ourselves to the fact that this is how things are going to be done from here on out...until all pretenses of due process are abandoned.
Even the soviets had "pretenses" of due process for a long time. It can get really bad even before that point.
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February 09, 2019, 04:15:52 AM

Someone posted this on /r/reddit:

WikiLeaks Reveals US Military Use Of IMF, World Bank As "Unconventional" Weapons

Describes how the global monetary system is just a giant American geopolitical weapon. And that is why bitcoin will win. But we knew that, of course.
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February 09, 2019, 04:26:47 AM


 Your new hat sir!

https://i.imgur.com/tj6mnSg.png https://i.imgur.com/6lBaRi1.png

Avatar-sized

 

edit: not sure what I was thinking! A black cord was not appropirate... changed it to gold.  Please accept my apologies.






+1 WOsMerit

Could it be even more better with some scrambled eggs on it?



 I tried scrambled eggs but they didn't look very good after manipulating them to fit the brim of the hat and shrinking them to avatar size.  Just another skill I need to work on!


 Thanks to Toxic2040's encouragement, I tried again with the scrambled eggs...



Avatar-sized



 Dabs, you'll be the officer and the gentleman of the thread now.
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February 09, 2019, 04:39:53 AM

I don't think so. I've been hearing for 20 years that all the programming work will be outsourced to India and it hasn't happened yet.

The brutal truth is that educational systems in most countries are garbage. The colleges and universities in most 3rd world countries are worthless - especially when it comes to tech degrees. Nothing compares to a computer science degree from a western/first world county.

The 3d industry (I think a few places like Pixar) tried to outsource to India and it failed in the past.  Their work was not as good as western nations, plus they put their cultural slant on the work as well.  This was just the beginning, though.  The industry is already mature in the west and succeeds in funneling lots of people who are naturally gifted at arts into the field.  In places like India, for numerous reasons, that does not happen.

Maybe it's even impossible for those people to be funneled into that industry at all without the entire nation itself industrializing into a 1st world country, then India's massive population would hold no advantage.  But it's also possible even if their nation stays somewhat 3rd world, they manage to carve out niche industry (think call centers) except instead of call centers, they specialize in programming, 3d, or whatever and undercut the west.  As time goes by, as long as the wage gap between each country is huge, the more incentive there is for them to attempt to form those niche industries and undercut the west, so a lot of it seems sort of inevitable.

Like I said, due to India's structural problems and relative 3rd world status, it's entirely possible India fails to undercut the west, but it's EASILY possible places like China undercut just about EVERYTHING in programming, plus all the low wage, Eastern Euro countries and Russia as well.  There's not much stopping those nations from demolishing the standard of living in programming in the future.  Most of them even know English now.
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