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

[LFC_Bitcoin]

Wait, so Bitcoin has 'developers' that can play God and alter my digital shitcoins in ways that I don't want?  What happens when the developer does this to my physical metals??? Oh wait....they can't!  Which is one reason metals are money and Bitcoin isn't.

Have you ever bought anything with physical silver or good?
Metals were used as money hundreds of years ago. Physical metals are primarily a store of value now.

Imagine going into a grocery store & trying to buy stuff with silver
That will never change in our lifetime.

[El duderino_]

Wait, so Bitcoin has 'developers' that can play God and alter my digital shitcoins in ways that I don't want?  What happens when the developer does this to my physical metals??? Oh wait....they can't!  Which is one reason metals are money and Bitcoin isn't.

Have you ever bought anything with physical silver or good?
Metals were used as money hundreds of years ago. Physical metals are primarily a store of value now.

Imagine going into a grocery store & trying to buy stuff with silver
That will never change in our lifetime.

As Will never ever change, you can’t cut silver in instant small pieces to pay and change or whatever, BTC of-course all is possible with

[gappie]

Actually 2011 vintage, but who is counting.

Congrats on hitting that Jr. Member Milestone!

Try for full member by 100k plz

2011.  Nice.   Care to share your Bitcoin genesis story?  How did you hear about BTC in 2011?

To be completely honest, I can't remember exactly! I wish I could remember on what day and how I heard of it first. I know it must have been on the Internet, but I also recall seeing some news segment on cnn tech show possibly around there. I went straight into research mode and bought my first soon after using PayPal. Got scammed on my first attempt and almost gave up. In my country the only option was PayPal and the otc market on bitcointalk.

[Last of the V8s]

... numerous people shilling FOR Bitcoin like Last of the V8s and the Popescu cult all believe the segwit coins will become anyone can spend and anyone using a segwit address will lose everything?  ...

I've never said this.
 'anyonecanspend' means even a non-segwit node can spend, if they have the valid signature.

[Phil_S]

The problem with metals, besides that I can't buy a jug of milk with it, is that tyrannical states can and will just take it. Metals are for the rebuilding phase, not the purge phase. And bitcoin is for getting a safe distance while it all blows over.

Yep:

https://bitcointalk.org/index.php?topic=178336.msg49462057#msg49462057

[ChinkyEyes]

Yeah true

And there'll be lots of bored and blousy sales reps and HR lasses who'll be utterly enchanted by all these sweaty, twitching men staring at charts on their phones.

There should be a huge screen available which shows the Bitstamp price the whole night. Could do shots betting on the 15min candles going up or down. WO drinking games!

Wait, so Bitcoin has 'developers' that can play God and alter my digital shitcoins in ways that I don't want?  What happens when the developer does this to my physical metals??? Oh wait....they can't!  Which is one reason metals are money and Bitcoin isn't.

Have you ever bought anything with physical silver or good?
Metals were used as money hundreds of years ago. Physical metals are primarily a store of value now.

Imagine going into a grocery store & trying to buy stuff with silver
That will never change in our lifetime.

As Will never ever change, you can’t cut silver in instant small pieces to pay and change or whatever, BTC of-course all is possible with

When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars

[Phil_S]

When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars

In that case, I would recommend Ledger.

[Paashaas]

Bitmex set to reduce BItcoin fees with Liquid sidechain and Segwit.

https://bitcoinist.com/bitcoin-liquid-bitmex-scaling-segwit/

[realr0ach]

Imagine going into a grocery store & trying to buy stuff with silver

As if people don't already use metal coins every single day already and have done so for the last 5000 years.  All metals revaluation does is give you options of higher denomination coins.  In any type of metals system it's never just gold only that's used, it's gold, silver, and copper.  Post metals revaluation would look something like this:

$10,000 1 oz gold
$5,000   1/2 oz gold
$1000    1/10th oz gold
$500      1/20th oz gold

$200 1 oz silver
$100 1/2 oz silver
$20   1/10th oz silver
$10   1/20th oz silver

$2       1 oz copper
$1       1/2 oz copper
$0.20  1/10th oz copper
$0.10  1/20th oz copper

Pennies pre-metals revaluation currently cost something like 1.8 cents to make.  They would probably use aluminum coins or something for coin denominations below copper like the penny.  That was the lowball estimate for silver. It's also possible silver could be a lot higher at something like 20:1 GSR with:

$500   1 oz silver
$50     1/10th oz silver
$25     1/20th oz silver

$5        1 oz copper
$2.50   1/2 oz copper
$0.50   1/10th oz copper
$0.25   1/20th oz copper

In the lowball figure, silver is still a +13.5x while gold is a +7.7x.  In the highball figure, silver is +33x vs gold's 7.7x.  If you used the lowball figure, you would likely pay 1/20th an ounce of silver for a pizza and the price would remain the same for decades.  If you tried to price the pizza in Bitcoin...it's not even possible to have anywhere near a remotely stable price in Bitcoin over a short period let alone decades, which is another reason it's useless as money and is just a Ponzi scheme.

[HairyMaclairy]

... numerous people shilling FOR Bitcoin like Last of the V8s and the Popescu cult all believe the segwit coins will become anyone can spend and anyone using a segwit address will lose everything?  ...

I've never said this.
 'anyonecanspend' means even a non-segwit node can spend, if they have the valid signature.

Not to put too fine a point on it, anyone can spend any coins, including legacy addresses, if they have the valid signature

When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars

In that case, I would recommend Ledger.

I don't think I like this competition

[LFC_Bitcoin]

... numerous people shilling FOR Bitcoin like Last of the V8s and the Popescu cult all believe the segwit coins will become anyone can spend and anyone using a segwit address will lose everything?  ...

I've never said this.
 'anyonecanspend' means even a non-segwit node can spend, if they have the valid signature.

Not to put too fine a point on it, anyone can spend any coins, including legacy addresses, if they have the valid signature

When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars

In that case, I would recommend Ledger.

I don't think I like this competition

You prefer big GREEN dildos?

[realr0ach]

Another reason metals revaluation is inevitable:

In 2011, the Mint awarded a contract to study the issue to Concurrent Technologies Corporation of Johnstown, Pennsylvania. The report in response to the legislation declared that there is no material that would reduce the one-cent coin's manufacturing cost to below one cent, so it was removed from consideration.

Therefore the value of a penny (the thing made out zinc and copper) has to rise to something like 5-10 cents to exist at all.  Alternatively, a penny could be worth 1 penny, but a penny would buy you a lot more than it does now in a new monetary system.

[sirazimuth]

When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars

In that case, I would recommend Ledger.

Well apparently this character didn’t get your memo...

https://www.hindustantimes.com/india-news/man-held-at-jaipur-airport-for-trying-to-smuggle-gold-by-hiding-it-in-his-rectum/story-yXQilEDBlN0ToxHQqip3kK.html

[AlcoHoDL]

It was always going to be very impractical opsec-wise to have one huge party.
We're going to have to decentralise this thing.

I think you're right...

All of us getting together in one place and time that is publicly known (or that could leak) will create a huge BTC honey pot. We could then be abducted, tortured and have our BTC wrenched out of us! OUCH!

Most of us already are, or will soon be millionaires, some even billionaires... This is no joke! Gotta organize this thing very carefully...

I agree with your overall sentiment, and the point(s) that you are making, AlcoHolDL; however, I am going to quibble a bit with your assessment that "most of us already are, or will soon be millionaires."  To be or soon be a millionaire, most of us would need to have in the territory of 100 coins or assuming that a BTC price of $20k is imminent, then "most of us" would need to have 50 coins or more.  I have my doubts about that assessment, at least in terms of the "most" categorization.

OK, yeah, that was an edited post. In the original I had typed "most of us will soon be millionaires", and later added the "already are" part.

But still, in 3-5 years from now, even single-digit BTC coinage could be worth > $1M.

But yeah, "most" was probably too much.

Still, good things come to those who wait. IOW: HoDL!

Edit: Also, at the $100k party, just 10 BTC makes you a millionaire by definition...

[realr0ach]

When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars

In that case, I would recommend Ledger.

Well apparently this character didn’t get your memo...

https://www.hindustantimes.com/india-news/man-held-at-jaipur-airport-for-trying-to-smuggle-gold-by-hiding-it-in-his-rectum/story-yXQilEDBlN0ToxHQqip3kK.html

The acceptability of metals as payment (since they're actual useful elements of the periodic table and not Ponzi schemes) will always be far higher than digital scamcoins, so there will always be motive for metals smuggling whether Bitcoin lives or dies.  Also, if a paper fiat money dies and fucks over everyone, people will never accept another paper money in it's place right afterwards either, and just about everyone sees valueless 0's and 1's as the same thing as a paper currency, so you're also fucked in that regard.

[JSRAW]

~Snip~

mic is a top guy, I don’t know what Jay means when he says mic has a team?

I literally met him & cryptoqueeen 2 days ago. I don’t know what I expected them to be like but they’re really cool people, friendly, looking forward to seeing them again in the future.

Only Jay can shed some light. Which I am sure he will because as far as I understand him, he doesn't strike me that kind of person who bitches at someone's else back. its rare quality.

It's good that you guys bumped into each other. Hopefully, many WO members meet each other too in next 5-10years, I would love to meet the gang at some point. If not, then partying near the Himalayas is my go-to option.

On a side note, I think Kenzawak and my path could cross sooner. The only drawback I can think of is I travel as a bag packer, and he's a slightly fancy traveler.

[Hueristic]

Actually 2011 vintage, but who is counting.

Congrats on hitting that Jr. Member Milestone!

Try for full member by 100k plz

2011.  Nice.   Care to share your Bitcoin genesis story?  How did you hear about BTC in 2011?

My bet is he lurked since 2008.

My money is on an alt, its still amusing

[ChinkyEyes]

When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars

In that case, I would recommend Ledger.

Well apparently this character didn’t get your memo...

https://www.hindustantimes.com/india-news/man-held-at-jaipur-airport-for-trying-to-smuggle-gold-by-hiding-it-in-his-rectum/story-yXQilEDBlN0ToxHQqip3kK.html

The acceptability of metals as payment (since they're actual useful elements of the periodic table and not Ponzi schemes) will always be far higher than digital scamcoins, so there will always be motive for metals smuggling whether Bitcoin lives or dies.  Also, if a paper fiat money dies and fucks over everyone, people will never accept another paper money in it's place right afterwards either, and just about everyone sees valueless 0's and 1's as the same thing as a paper currency, so you're also fucked in that regard.

I assume the guy in the article maxed out his rectum for 1kg of gold. Which is worth around $ 41k. So Roach you have to start training your rectum and maximize the amount of silver it can hodl. With the current price you could flee the country with $ 480 worth of silver up your bum!

[Globb0]

Just off back to work.

Whoops, Mustn't forget my useful elements of the periodic table.

[Hueristic]

I'm really enjoying the newest iteration of your hats homer, they're 3D A.F.

Hey whats with Livecoin not allowing withdrawals?
I saw the the disparity in prices there and did some digging and it looks like they are scamming?
Do you actually trade there?