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

[VB1001]

[realr0ach]

^Or the TLDR version of my post above:  Bitcoin is like the grotesque finale of global financialization.  Financialization is the art of making money by producing nothing.  You have billions of dollars floating around that instead of chasing real world goods, services, or investments, the money is chasing imaginary, valueless tokens.  At some point all imaginary things are going to be marked to market for their real value of zero, and it's going to be hilarious, or catastrophic, or both.

[VB1001]

[Whaleagent]

^Or the TLDR version of my post above:  Bitcoin is like the grotesque finale of global financialization.  Financialization is the art of making money by producing nothing.  You have billions of dollars floating around that instead of chasing real world goods, services, or investments, the money is chasing imaginary, valueless tokens.  At some point all imaginary things are going to be marked to market for their real value of zero, and it's going to be hilarious, or catastrophic, or both.

What does imaginary mean to you exactly? Isn't ''normal'' money imaginary too? Why does it hold any value at all if it can appear from nothing? Does it hold value because it's a physical bill? Does gold hold a lot of value simply because people use gold to build/create things with it?

[Ibian]

If we break and hold 8200 for a bit then 10k+ is sure to follow.

[realr0ach]

^Or the TLDR version of my post above:  Bitcoin is like the grotesque finale of global financialization.  Financialization is the art of making money by producing nothing.  You have billions of dollars floating around that instead of chasing real world goods, services, or investments, the money is chasing imaginary, valueless tokens.  At some point all imaginary things are going to be marked to market for their real value of zero, and it's going to be hilarious, or catastrophic, or both.

What does imaginary mean to you exactly? Isn't ''normal'' money imaginary too? Why does it hold any value at all if it can appear from nothing? Does it hold value because it's a physical bill? Does gold hold a lot of value simply because people use gold to build/create things with it?

Of course "money" isn't imaginary.  Fiat paper has always been a derivative of metals, not vice versa.  They just turned it into a complete scam and de-linked the paper convertability from metals entirely under Nixon.  My grandfather worked for Nixon.  To qualify as money something has to be an actual commodity.  Commodities are physical only.  If it's not a commodity, it's a currency.  All currencies are worthless scams. 

The lowest level API of trade is barter.  The further you extrapolate from barter, the bigger a scam it is.  Since humans practice specialization of labor, the exchange of a physical commodity has always been used because it's the closest thing to barter there is without actually being barter.

[Ibian]

Value is imaginative. Things are worth what people think they are worth. Get bent seriously.

[Globb0]

Ive burned it down there a few times. Even won a class once.

[realr0ach]

Value is imaginative. Things are worth what people think they are worth. Get bent seriously.

I didn't use the word value in my post, but "value" is obviously not subjective in relation to humans when things like Maslow's pyramid exist.  Things like food, building materials for shelter, energy to stay warm, etc, all have greater value than gold or imaginary, valueless bitcoins.  But the key aspect is that those Maslow's pyramid-esque things all tend to be perishable commodities when a non-perishable commodity is needed to serve as money (among several other attributes).  

Hence why the noble metals (gold and silver) become the Schelling point of money instead of bread.  It's the invisible hand of the market simply choosing the most suitable commodity.  Bitcoin is not a commodity.  It's a fake commodity.  It is relegated to the status of currency and not money.  All currencies are worthless scams whether it's dollars, Paypal tokens, Chuck E Cheese tokens, or Bitcoin tokens.

[VB1001]

Ive burned it down there a few times. Even won a class once.

Nice !!!, fuel and horsepower are addictive.

[UnDerDoG81]

Crazy, it´s rallying again did not expect that after the dump.

[Whaleagent]

Value is imaginative. Things are worth what people think they are worth. Get bent seriously.

I didn't use the word value in my post, but "value" is obviously not subjective in relation to humans when things like Maslow's pyramid exist.  Things like food, building materials for shelter, energy to stay warm, etc, all have greater value than gold or imaginary, valueless bitcoins.  But the key aspect is that those Maslow's pyramid-esque things all tend to be perishable commodities when a non-perishable commodity is needed to serve as money (among several other attributes).  Hence why the noble metals (gold and silver) become the Schelling point of money instead of bread.

Actually you did, you said ''valueless tokens'' and ''At some point all imaginary things are going to be marked to market for their real value of zero''

''Things like food, building materials for shelter, energy to stay warm, etc, all have greater value than gold or imaginary'' You see, value is indeed relative and imaginary, food is usually more valuable than gold but so is water, however if you haven't eaten in 2 weeks but had enough water, food would be more valuable than water in that particular instance but the same can be true for gold, if you have plenty of food and water and you needed gold for whatever reason, then gold would be more valuable than those 2. In the end is really just demand and supply no matter what the intrinsic value of a particular asset is.

[LFC_Bitcoin]

There will be people who were panic selling in the low 7k’s. How dumb do they frel now?

HODL = No losses!

[Last of the V8s]

The big Bart - ok.
But we must build some support
- a 'slomo fomo'?

[Arriemoller]

Is that Mr Miller?
He showed of his car at a drag race in Malmö in -79 or -80 I think it was. I got his autograph on my t-shirt, still have that shirt in a drawer in my bedroom.

[BitcoinGirl.Club]

Good morning brothers!

Observing @ $8,127 🤪  

$9k soon!?

[VB1001]

Lets gooooo BTC

[BitcoinGirl.Club]

Lets gooooo BTC

It's hard to stop now 🤪

[Last of the V8s]

She could soap my Aston any time. Polish my Pagani.

lather my Lada

[BitcoinGirl.Club]

She could soap my Aston any time.

Do you have bitcoins? 🤪