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

[jbreher]

Fractional reserve has been working for banks for hundreds of years now, don't see why it can't for Finex. Even knowing what we know now people still hold their money there, it would take 75% of people to withdraw now for them to go belly up think and doesn't look like we're close to that happening, in fact they'd probably be "safe" running at 50% fractional reserve.

To clarify, my post was in reference to the cursive part.

As I see it the real issue is with central banking, over the top tax rates and government wastefulness. Fractional reserve can work if done sensibly and not bailed out by the tax payer. It's no different from debt, which is a highly productive tool.

Blasphemy. Partial reserve banking steals purchasing power -- and thereby wealth -- from the public at large, and concentrates it in the hands of the parasite banking class.

Suppose it was transparent and properly compensated as opposed to the way it was now, e.g. if depositors were paid proper interest for their deposits used in fractional reserve schemes, would you still see it that way?

Yes.

If yes, why?

Because in the fractional reserve banking system, the vast majority of the money that banks loan does not exist until the very moment the loan is made. It is the indebtedness itself that zaps the money into existence. As such, the 'principal' is something that the bank would not have to lend you (or to use for any other purpose), as that money does not even exist before the loan is made. The bank acts like this principal is their money that they are lending. But if it is the very act of borrowing it that zaps it into existence, was it really the bank's to begin with? (Of course not) Why could the borrower not zap it into existence themselves? Only because the bank has been granted under colour of law this exclusive ability to counterfeit new money into existence. And worse, when it is repaid, it is paid to the bank. Money that the bank did not have until the act of the loan zapped it into existence. And to add insult to injury, the bank not only gets this newly created money, they charge interest to the borrower for the privilege of being allowed to counterfeit this money into existence.

Bizarre, but it's the motherfuckin' truth.

Sure - if you can find a way to fix that, and allow for partial reserve banking, I'm willing to listen to your ideas. But if you're feeding me a turd that's been sprayed in gold paint, I ain't gonna go for that.

[realr0ach]

But if you're feeding me a turd that's been sprayed in gold paint, I ain't gonna go for that.

I guess you have no interest in bitcoin then.

[Toxic2040]

4h
standard cloud


doubled cloud

[Paashaas]

Grayscale urges investors to drop gold for BTC.

https://bitcoinmagazine.com/articles/bye-gold-buy-bitcoin-grayscale-urges-investors-to-drop-gold-for-btc/

[smartcomet]

Where are we trading from, gentlemen?
DataLight analysts have done some interesting research, look at this.

source :https://datalight.me/blog/researches/longread/how-are-crypto-traders-distributed-across-the-globe/

The Data is counted on ip addresses, but when mobile app uses carrier’s network, its ip address changes all the time.

There is 3.5M crypto traders in Japan in Apri,2018.
https://www.fsa.go.jp/news/30/singi/20180410-3.pdf
6.14/3.5=1.75

So there may be only 36M traders not 64M in these countries, and 30M traders don’t have bitcoin addresses which balances are bigger than 0.01, but store or buy altcoins in the exchanges.

By “80-20 rule”,  their bitcoins equals 18M*20%=3.6M, every traders get 3.6M/36M=0.1 bitcoin.

In conclusion, 80% traders store 0.1 bitcoin/per user in exchanges, and don’t get their private key by themselves.

[Paashaas]

F*** one out goal needed big time!!!

Liverpool had bad luck, next match will be thought.

[ivomm]

CMON SHORT SQUEEZE LETS GO

Shorts are at record highs.  Let’s make this epic and break $6k.

All is set and ready for another 20% brutal short squeeze.

[ivomm]

F*** one out goal needed big time!!!

Liverpool had bad luck, next match will be thought tough.

C'mon, you have to admit the genious of Messi! He is simply the GOAT! I am a fan of Barca since Stoichkov went there from my favourite Bulgarian team CSKA Sofia. Barca has always been the best in Spain and the winning of 8  La Liga's from 11 proves it. Real is more like Liverpool - a tournament team. Both teams have troubles winning the domestic championships, esp. Liverpool - 20 or more years! Of course, nothing is decided yet - Liverpool can score 3 goals in one half, so Barca better watch out!

[BTCMILLIONAIRE]

The future of silver and gold is bleak.  Technology continues to improve mining yields on earth and over the next few decades we are likely to see a flood of precious metals from mining in space.  

And here's the 4000th retarded post pretending the cost to mine anything in space will not be astronomical.

If you try to do it right now, certainly. But that doesn't matter whatsoever for two reasons.

1.) Costs exponentially decline whenever there is an incentive

2.) Asteroids have so god damn fucking much gold on them that nominal cost is redundant. If something costs 1 Trillion but returns 2 Trillion you've got a viable venture.

And without a doubt at some point in time the cost of trying to get some metals out of space will be so far below the value of the mined metals that somebody will do it.


Also. Nuclear fusion + synthesis.

[realr0ach]

Grayscale urges investors to drop gold for BTC.

https://bitcoinmagazine.com/articles/bye-gold-buy-bitcoin-grayscale-urges-investors-to-drop-gold-for-btc/

Grayscale, a subsidiary of (((Digital Currency Group))), which is affiliated with (((Larry Summers))), whose goal is to abolish all physical cash and place everyone in a new world order digital slave system:

https://www.zerohedge.com/news/2016-02-16/larry-summers-launches-war-us-paper-money-its-time-kill-100-bill

You people on this forum are 100% pure trash.

[jojo69]

Silver on sale today...if anyone feels like diversifying...

I take it you mean litecoin

Nope, the 47 protons variety.

It is, in fact, possible to be a Bitcoin maximalist, non Nazi, and still like a bit of physical now and again.

Off to the LCS, cheers. 

Fair enough.  I must admit reading the posts from  roach has put me off buying  physical metals

Totally get that, R0ach gives everything he touches a bad name, it's like he is a fucking Midas of shit.

I have always thought that stackers and coiners are natural allies, never understood the mutual animosity.

[realr0ach]

I have always thought that stackers and coiners are natural allies, never understood the mutual animosity.

100% False.  Look at my last post above where you have evil cult of Judaism member Larry Summers whose goal is to abolish all physical cash trying to trick people into leaving metals for (((digital currency))) tracking and surveillance slave systems.

[BTCMILLIONAIRE]

Because in the fractional reserve banking system, the vast majority of the money that banks loan does not exist until the very moment the loan is made. It is the indebtedness itself that zaps the money into existence. As such, the 'principal' is something that the bank would not have to lend you (or to use for any other purpose), as that money does not even exist before the loan is made. The bank acts like this principal is their money that they are lending. But if it is the very act of borrowing it that zaps it into existence, was it really the bank's to begin with? (Of course not) Why could the borrower not zap it into existence themselves? Only because the bank has been granted under colour of law this exclusive ability to counterfeit new money into existence. And worse, when it is repaid, it is paid to the bank. Money that the bank did not have until the act of the loan zapped it into existence. And to add insult to injury, the bank not only gets this newly created money, they charge interest to the borrower for the privilege of being allowed to counterfeit this money into existence.

Bizarre, but it's the motherfuckin' truth.

Sure - if you can find a way to fix that, and allow for partial reserve banking, I'm willing to listen to your ideas. But if you're feeding me a turd that's been sprayed in gold paint, I ain't gonna go for that.

Response to yours lightfoot's post (omitted for space).

Perhaps I am misunderstanding the banking system in general. But what you're describing seems to be central banking to me.



Let's assume that we now live in a world without central banking. I am the first person to create a bank.

People deposit their money with me for safe-keeping because I have state-of-the-art impenetrable security. I now realize that people only use 50% of the funds during peak load.

Meanwhile, businesses ask me for loans so they can eventually turn them into profits.

I decide to use an amount sufficiently below 50% of the money deposited in my bank to hand out loans and receive interest.

What I have now done was writing loans using money that exists as my clients put it in my care.

I decide to be a greedy cunt because I'm the only bank in town and very smart, so I keep all the profits to myself.

Someone who is very smarterer than me comes along and copies my system, but now hands out some of the profits back into depositor accounts.

This repeats until an equilibrium creditor and depositor interest rate is reached that covers all risks while keeping marginal profits for all three parties involved.


Would that not describe private banks without central banking?

And how does that differ from a hedge fund that offered plastic cards and wire transfers?

[BTCMILLIONAIRE]

Some  of you guys seem to act like you are eternal holder.s  Whats the point of making money if you never spend it and enjoy yourself.  Never know how long you will live and you can enjoy it a lot more when your younger.

I was mostly confused when I was younger...still mostly confused...but I can rationalize it as the world being F*cked now...so it is now meh...

Life is just an experience machine. The second you die you'll piss yourself, literally and figuratively. And then proceed for another round on one of the many rides. /spoiler

[Hueristic]

*****PAASHAAS***** next week @ the Arena??

Another win in the pocket, it was an fantastic match. That 1 goal away was very important.

Unfortunately i can't go to the Arena next week because of work obligation but when they reach the finals me and some friends will go there ore another location.

Barca vs Liverpool will be a great joyment to watch tonight.

Watched it, It was a let complete down. :{

[CoinCube]

Let's assume that we now live in a world without central banking. I am the first person to create a bank.

People deposit their money with me for safe-keeping because I have state-of-the-art impenetrable security. I now realize that people only use 50% of the funds during peak load.

Meanwhile, businesses ask me for loans so they can eventually turn them into profits.

Once you promise your depositors that can withdraw their money at any time while simultaneously lending that money out in the “hope” most of your depositors won’t ask all ask for their money at once you have committed fraud. You have made a series of promises you cannot honor if unfavorable circumstances arise. If you are smart you will bribe the politicians to make the scheme legal. If you are smarter you will get the government to backstop the fraud when inevitable bank failures occur putting the taxpayer on the hook.

I wrote a series of essays on the topic a while back if you are interested.

Finance: Part 1, 2, 3

[BTCMILLIONAIRE]

Let's assume that we now live in a world without central banking. I am the first person to create a bank.

People deposit their money with me for safe-keeping because I have state-of-the-art impenetrable security. I now realize that people only use 50% of the funds during peak load.

Meanwhile, businesses ask me for loans so they can eventually turn them into profits.

Once you promise your depositors that can withdraw their money at any time while simultaneously lending that money out in the “hope” most of your depositors won’t ask all ask for their money at once you have committed fraud. You have made a series of promises you cannot honor if unfavorable circumstances arise. If you are smart you will bribe the politicians to make the scheme legal. If you are smarter you will get the government to backstop the fraud when inevitable bank failures occur putting the taxpayer on the hook.

I wrote a series of essays on the topic a while back if you are interested.

Finance: Part 1, 2, 3

In the force majeure tier case in which all depositors withdraw their money simultaneously I could still take out a loan myself.

Accumulated profits or initial deposits of mine could also guarantee 100% withdrawal at any time whilst leaving room for fractional reserve.

Depending on the ratio I could also take out a loan with variable rates of success to facilitate the withdrawals.

One could also offer different types of contracts for the deposits. Ones which don't guarantee 100% withdrawals at all times depending on the current dynamics but which offer interests on the deposit, perhaps variable with respect to the ratio of guaranteed withdrawals, and ones which offer 100% withdrawal rate but don't offer any interest or perhaps even have associated costs.


Will read your essays.

[Lambie Slayer]

Please stop quoting Roach.

Retard gibberish....

They know they will easily defeat the Kissless Virgin Roach with one call to the homeless shelter saying we are cutting off Bitcoin donations if they dont suspend your wifi privileges.



and FFS tell your lover Gembitz to lock its bike up, thats not a safe neighborhood.

[dyask]

It is very short sighted to think that gold or silver has a secure future.   Mining in space will require power but in the inner solar system solar power works fine.  As you go out the gas giants, even some moons can provide almost unlimited supplies of fuel.  Fission isn't a problem either in deep space as long as the reactors don't come back to earth.   Energy isn't an issue.   Mining the solar system will start slowly but the handwriting is on the wall.  The only real hurtles are battery technology and AI to run the ships.   Huge inroads in both areas over the last few years.   It will be insanely expensive at first, but those expenses will be dwarfed by the long term profits.   It will happen because that kind of profit brings power.  There are people that will do anything for power.

That is why digital currencies or something similar will replace gold as a store of value.  It might take a few decades but something will replace gold as a store of value because there is too much gold in the solar system, it is just a limited problem of how to get it.   We may even find economical ways to distill gold from sea water.   There is more gold dissolved in the oceans that has currently been mined.   Lack of technology has been protecting the value of gold, but that is rapidly changing.    

[Saint-loup]

An anonymous bitcoin whale has moved 40,000 BTC amounting to $211 million from an unknown Bech32 address bc1q9sh6544xls87x7skjzyfhkty4wq7z76vn7qzq9 to another unknown destination wallet with Bech32 address bc1q5shngj24323nsrmxv99st02na6srekfctt30ch in the early hours of today.

The sender reportedly sent his/her entire wallet balance of 40,000BTC which they had held from February 2018 till date and had the 21st richest wallet until 22 April when it dropped to the 22nd richest.
https://zycrypto.com/bitcoin-whale-moves-211-million-worth-of-bitcoin-as-market-conditions-improve/

https://blockstream.info/tx/68053b924c94b9fa4e9276503ce80b72d34e1ff2677e8d0a72ee25128100bdc9