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

[realr0ach]

How would you deal with the fact that it's only a matter of time we are able to mine gold in aesteroids/other planets and the supply will end up becoming huge with so much gold that it will become worthless?

Way to go making it ridiculously obvious that you're a lying scammer by continuously bringing up this stupid space mining meme.  The cost of production for anything in space is astronomical and that is never going to change.  It's also FAR LESS viable to mine silver in space than gold due to needing to process and transport far more materials.  

If this lie is the best thing you have to try and trick people into using digital, government tracking and slavery system tokens instead of metals, then your cause is as good as dead.  Seriously, you need to be an absolute fucking dumbass to even bring up this topic.  You may as well be a flat earther posting this shit.  The price of metals would also have to go to the moon BEFOREHAND for anyone to even attempt it.  You can tell you're full of shit because you brought ZERO actual numbers to the table.  What's the cost of production for mining gold or silver in space?  A million dollars an ounce?  Oh, that's right, you have no number because you're full of shit.

So you are allowed to make your hypothetical absurd scenarios including: "if I owned the entire silver supply..." or the classic "if the electricity went down...", but im not allowed to paint a picture of space mining to make a point. Is this how it works for metalheads?

No, you are not allowed to lie and pretend that you live in the movie Star Trek and that mining shit in space wouldn't have an astronomical cost of production.  

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[pereira4]

How would you deal with the fact that it's only a matter of time we are able to mine gold in aesteroids/other planets and the supply will end up becoming huge with so much gold that it will become worthless?

Way to go making it ridiculously obvious that you're a lying scammer by continuously bringing up this stupid space mining meme.  The cost of production for anything in space is astronomical and that is never going to change.  It's also FAR LESS viable to mine silver in space than gold due to needing to process and transport far more materials.  

If this lie is the best thing you have to try and trick people into using digital, government tracking and slavery system tokens instead of metals, then your cause is as good as dead.  Seriously, you need to be an absolute fucking dumbass to even bring up this topic.  You may as well be a flat earther posting this shit.  The price of metals would also have to go to the moon BEFOREHAND for anyone to even attempt it.  You can tell you're full of shit because you brought ZERO actual numbers to the table.  What's the cost of production for mining gold or silver in space?  A million dollars an ounce?  Oh, that's right, you have no number because you're full of shit.

So you are allowed to make your hypothetical absurd scenarios including: "if I owned the entire silver supply..." or the classic "if the electricity went down...", but im not allowed to paint a picture of space mining to make a point. Is this how it works for metalheads?

No, you are not allowed to lie and pretend that you live in the movie Star Trek and that mining shit in space wouldn't have a cost of production of a million dollars an ounce.

So why are you allowed to make far fetched scenarios such as you having the entire silver supply under your control, or waiting for a mad max scenario in which there is no electricity, in order for you to pump your metals again?

[realr0ach]

You're not even capable of DESCRIBING how your mining in space scheme is supposed to work, let alone place a dollar value on the astronomical cost of production.  Are you claiming you're going to process the metals IN SPACE?  I hope you have a nuclear reactor in orbit and a space station 10x bigger than the one that's currently there.  Or do you claim you're going to send out probes and deflect asteroids into earth collision courses where one tiny screwup might result in a planet destroying, dinosaur extinction catastrophe?  You millenial children scammers get the fuck outta here.

[jonoiv]

I don't buy the API issue,  it happens on diffent exchanges every now and again.  Whale fatfinger or whale panic is far more likley.   

1-min chart shows less than about 60 BTC during the supposed crash. That's minnow action, and it is frankly not credible to suggest Stamp's books would've crumpled under such a glancing blow.

Not API imo

kracken last week 100 USD
coinbase april 2017 0.06 USD
Stamp June 2016 1.50 USD
Bithump Oct 2017 500 USD
Bitfinex feb 2014 100 USD

[El duderino_]

Italy's Deputy Prime Minister has proposed a plan to "tax" money and valuables held by citizens in their private safety deposit boxes.

Don't be surprised if more people around the world start looking for a non-censorable, non-seizable asset to store their wealth in. 🔥

https://twitter.com/apompliano/status/1138803120119648258?s=21

Lol

[yefi]

Bitcoin is not some sort of voodoo magic, it's still physical, atoms are there moving. Proof of Work needed to generate certain combinations of atoms, which cannot be generated out of thin air as you need said PoW. Metalheads have a hard time grasping this.

Charge carriers move rather than atoms. Your point is still valid however.

[pereira4]

You're not even capable of DESCRIBING how your mining in space scheme is supposed to work, let alone place a dollar value on the astronomical cost of production.  Are you claiming you're going to process the metals IN SPACE?  I hope you have a nuclear reactor in orbit and a space station 10x bigger than the one that's currently there.  Or do you claim you're going to send out probes and deflect asteroids into earth collision courses where one tiny screwup might result in a planet destroying, dinosaur extinction catastrophe?  You millenial children scammers get the fuck outta here.

Still failing to explain why you are allowed to use far fetched scenarios to pump your metals, but whenever someone uses the mining in space argument (self admittedly far fetched, but definitely more realistic than such as you owning the entire silver supply) suddenly you demand all the explanations in the world when it's you who started with making such bizarre scenarios.

Im just exposing the metalhead anti Bitcoin routine and you seem too thick to even realize the fact.

[realr0ach]

You definitely cannot create the accumulated Proof Of Work of Bitcoin within your basement, nobody can, which is why Bitcoin has value.

Fine example of the dipshit scammer slogans you see plastered over Reddit all day.  The kind of bumper sticker slogan lies Andreas Antonopolous pushes.  Proof of work DOES NOT CREATE value.  It's sunk cost fallacy.  Jesus Christ, reading this continuous stream of mindless shit from you is too much.  This accumulated sunk cost fallacy also has ZERO bearing on future security.

It preserves value.

You are getting annoying. It's not like you don't know how it works.

Sunk cost fallacy does not "preserve" value.  Sunk cost fallacy by definition has NO BEARING on future value.  For example, if the Chicom miners band together and collude with their 70% hash power or whatever they have (I know it's at least 60% but probably higher), if you're on the minority fork with 30% or less, how has the current or past hash power "preserved" your value?  It hasn't.  You're now on a minority fork that might wither away and die off.  

Yea, you still have your Jihan Wu tokens on the majority fork, but maybe the tokens on that fork don't even have anything to do with the Bitcoin of yesterday at all and are instead Chinese social credit score tokens with built-in chain anchor.  Where is this so called "immutable" bullshit ledger again?  It doesn't exist.  Your chain can just be nullified by becoming an unsupported minority fork that dies. There is no Nash equilibrium in bitcoin. Arguably, no change would ever take place in the software if there was since there's no such thing as inherently 'good' code that can't have some hidden repurposed motives to it.

[Ibian]

You definitely cannot create the accumulated Proof Of Work of Bitcoin within your basement, nobody can, which is why Bitcoin has value.

Fine example of the dipshit scammer slogans you see plastered over Reddit all day.  The kind of bumper sticker slogan lies Andreas Antonopolous pushes.  Proof of work DOES NOT CREATE value.  It's sunk cost fallacy.  Jesus Christ, reading this continuous stream of mindless shit from you is too much.  This accumulated sunk cost fallacy also has ZERO bearing on future security.

It preserves value.

You are getting annoying. It's not like you don't know how it works.

Sunk cost fallacy does not "preserve" value.  Sunk cost fallacy by definition has NO BEARING on future value.  For example, if the Chicom miners band together and collude with their 70% hash power or whatever they have (I know it's at least 60% but probably higher), if you're on the minority fork with 30% or less, how has the current or past hash power "preserved" your value?  It hasn't.  

You're now on a minority fork that might wither away and die off.  Yea, you still have your Jihan Wu tokens on the majority fork, but maybe the tokens on that fork don't even have anything to do with the Bitcoin of yesterday at all and are instead Chinese social credit score tokens with built-in chain anchor.  Where is this so called "immutable" bullshit ledger again?  It doesn't exist.  Your chain can just be nullified by becoming an unsupported minority fork that dies. There is no Nash equilibrium in bitcoin.  Arguably, no change would ever take place in the software if there was since there's no such thing as inherently 'good' code that can't have some hidden repurposed motives to it.

You are not even in the right branch of philosophy.

[pereira4]

You definitely cannot create the accumulated Proof Of Work of Bitcoin within your basement, nobody can, which is why Bitcoin has value.

Fine example of the dipshit scammer slogans you see plastered over Reddit all day.  The kind of bumper sticker slogan lies Andreas Antonopolous pushes.  Proof of work DOES NOT CREATE value.  It's sunk cost fallacy.  Jesus Christ, reading this continuous stream of mindless shit from you is too much.  This accumulated sunk cost fallacy also has ZERO bearing on future security.

It preserves value.

You are getting annoying. It's not like you don't know how it works.

Sunk cost fallacy does not "preserve" value.  Sunk cost fallacy by definition has NO BEARING on future value.  For example, if the Chicom miners band together and collude with their 70% hash power or whatever they have (I know it's at least 60% but probably higher), if you're on the minority fork with 30% or less, how has the current or past hash power "preserved" your value?  It hasn't.  

You're now on a minority fork that might wither away and die off.  Yea, you still have your Jihan Wu tokens on the majority fork, but maybe the tokens on that fork don't even have anything to do with the Bitcoin of yesterday at all and are instead Chinese social credit score tokens with built-in chain anchor.  Where is this so called "immutable" bullshit ledger again?  It doesn't exist.  Your chain can just be nullified by becoming an unsupported minority fork that dies. There is no Nash equilibrium in bitcoin.  Arguably, no change would ever take place in the software if there was since there's no such thing as inherently 'good' code that can't have some hidden repurposed motives to it.

The schelling point is in the fact that nobody is going to support an increase on 21 million coin supply for instance, things that matter. If the chinese colluded to do such a change, they would end up with an useless token and those smart would see the opportunity to mine Bitcoin at a discount while the scammers burn money on their pretend Bitcoin, before the difficulty picks up traction again.

[JayJuanGee]

ALL OF THOSE COINS HAVE LEFT COINBASE ALREADY.

I'm pretty sure it was someone fucking with us or laundering or some bullshit. Maybe cold to hot to new cold.

Possibly an OTC buyer and seller match that Coinbase brokered.

Great another downtrend in the price incoming when those coins land on another exchange and sell.
Prepare yourself for another dip below $7k by morning.
From then who knows. We might be saying hello to $6k again.

Another one sold too many BTC too early?

Sorry for your loss and sorry to break the news, but it currently seems that we are continuing to experience ongoing and upwards BTC price pressures.

Sucks to currently either be a BTC shorter or someone who has sold too much BTC too early.   

[realr0ach]

If the chinese colluded to do such a change, they would end up with an useless token and those smart would see the opportunity to mine Bitcoin at a discount while the scammers burn money on their pretend Bitcoin, before the difficulty picks up traction again.

No, that is not how the world works such as how people like Bitcoin core erroneously state that only "nodes" or "users" matter and not miners.  Miners determine the fate of Bitcoin because without miners you have no chain security. Yes, you can choose to boycott the majority fork...and then be attacked by them.  Then you get to open the can of worms of being forced to change algo.  Regardless, since Bitcoin has no Nash equilibrium, no Schelling point, and mining and transaction validators are all designed to centralize, it's nothing more than a corrupt political power vacuum like you would see in a senate.

[pereira4]

If the chinese colluded to do such a change, they would end up with an useless token and those smart would see the opportunity to mine Bitcoin at a discount while the scammers burn money on their pretend Bitcoin, before the difficulty picks up traction again.

No, that is not how the world works such as how people like Bitcoin core erroneously state that only "nodes" or "users" matter and not miners.  Miners determine the fate of Bitcoin because without miners you have no chain security. Yes, you can choose to boycott the majority fork...and then be attacked by them.  Then you get to open the can of worms of being forced to change algo.  Regardless, since Bitcoin has no Nash equilibrium, no Schelling point, and mining and transaction validators are all designed to centralize, it's nothing more than a corrupt political power vacuum like you would see in a senate.

Miners need transactions to happen in order to stay solvent, and nobody would use inflationcoin. Also, literally all whales (except miners that are part of the attack, assuming they don't back-peddle) would dump their share on the attackers chain, collapsing the price, thus collapsing the hashrate, and forcing miners to come back to the original chain or go out of business.

[HI-TEC99]

ALL OF THOSE COINS HAVE LEFT COINBASE ALREADY.

I'm pretty sure it was someone fucking with us or laundering or some bullshit. Maybe cold to hot to new cold.

Possibly an OTC buyer and seller match that Coinbase brokered.

It's only whaleclub that identified that address as a coinbase one. Walletexplorer.com says the coins were sent to a xapo wallet, not to coinbase.

https://www.walletexplorer.com/wallet/Xapo.com?from_address=3Qy5mTpumWh24f5UdwGPJEhStoD3A25fK9

Whaleclub and walletexploreer probably use taint analysis to guess which address belongs to a company. It's not a perfect science, and they make mistakes.

Those coins didn't necessarily get sent to coinbase, despite whaleclub saying they did.

[realr0ach]

If the chinese colluded to do such a change, they would end up with an useless token and those smart would see the opportunity to mine Bitcoin at a discount while the scammers burn money on their pretend Bitcoin, before the difficulty picks up traction again.

No, that is not how the world works such as how people like Bitcoin core erroneously state that only "nodes" or "users" matter and not miners.  Miners determine the fate of Bitcoin because without miners you have no chain security. Yes, you can choose to boycott the majority fork...and then be attacked by them.  Then you get to open the can of worms of being forced to change algo.  Regardless, since Bitcoin has no Nash equilibrium, no Schelling point, and mining and transaction validators are all designed to centralize, it's nothing more than a corrupt political power vacuum like you would see in a senate.

Miners need transactions to happen in order to stay solvent, and nobody would use inflationcoin. Also, literally all whales (except miners that are part of the attack, assuming they don't back-peddle) would dump their share on the attackers chain, collapsing the price, thus collapsing the hashrate, and forcing miners to come back to the original chain or go out of business.

Nobody said anything about inflation.  You erroneously claimed "21 million coins" constitutes a Schelling point for Bitcoin.  You're making shit up on the fly.  You can have infinite different forks all with a 21 million coin count.  There is no Schelling point in shitcoins.  Stop constantly lying.  It's also 100% guaranteed for Bitcoin to be co-opted by the state since transaction validators are designed to centralize, not that the state wasn't involved in it's creation in the first place.

[_javier_]

If the chinese colluded to do such a change, they would end up with an useless token and those smart would see the opportunity to mine Bitcoin at a discount while the scammers burn money on their pretend Bitcoin, before the difficulty picks up traction again.

No, that is not how the world works such as how people like Bitcoin core erroneously state that only "nodes" or "users" matter and not miners.  Miners determine the fate of Bitcoin because without miners you have no chain security. Yes, you can choose to boycott the majority fork...and then be attacked by them.  Then you get to open the can of worms of being forced to change algo.  Regardless, since Bitcoin has no Nash equilibrium, no Schelling point, and mining and transaction validators are all designed to centralize, it's nothing more than a corrupt political power vacuum like you would see in a senate.

Miners need transactions to happen in order to stay solvent, and nobody would use inflationcoin. Also, literally all whales (except miners that are part of the attack, assuming they don't back-peddle) would dump their share on the attackers chain, collapsing the price, thus collapsing the hashrate, and forcing miners to come back to the original chain or go out of business.

Nobody said anything about inflation.  You erroneously claimed "21 million coins" constitutes a Schelling point for Bitcoin.  You're making shit up on the fly.  You can have infinite different forks all with a 21 million coin count.  There is no Schelling point in shitcoins.  Stop constantly lying.  It's also 100% guaranteed for Bitcoin to be co-opted by the state since transaction validators are designed to centralize, not that the state wasn't involved in it's creation in the first place.

Infinite different forks and none is bitcoin.

Meanwhile in outerspace...
https://www.forbes.com/sites/jamiecartereurope/2019/06/12/nasa-heads-for-psyche-a-giant-mysterious-metallic-asteroid-that-could-be-a-dead-planets-heart/#5d2d3dd365b8

blah blah Nasa to explore a metallic asteroid that "could be worth a staggering $10,000 quadrillion."

Eat that, metal bug!

[illyiller]

Someone did say in the tweet replies the original be wallet that sent them was a xapo cold wallet but could xapo really own so many coins?

Absolutely. Xapo is one of the largest custodians in the world: The Wealthy Are Hoarding $10 Billion of Bitcoin in Bunkers

If you look into it, that wallet has been flagged as Xapo for a very long time. The "whale alert" or whatever Twitter account was blatantly wrong, and possibly trying to manipulate the market.

[pereira4]

If the chinese colluded to do such a change, they would end up with an useless token and those smart would see the opportunity to mine Bitcoin at a discount while the scammers burn money on their pretend Bitcoin, before the difficulty picks up traction again.

No, that is not how the world works such as how people like Bitcoin core erroneously state that only "nodes" or "users" matter and not miners.  Miners determine the fate of Bitcoin because without miners you have no chain security. Yes, you can choose to boycott the majority fork...and then be attacked by them.  Then you get to open the can of worms of being forced to change algo.  Regardless, since Bitcoin has no Nash equilibrium, no Schelling point, and mining and transaction validators are all designed to centralize, it's nothing more than a corrupt political power vacuum like you would see in a senate.

Miners need transactions to happen in order to stay solvent, and nobody would use inflationcoin. Also, literally all whales (except miners that are part of the attack, assuming they don't back-peddle) would dump their share on the attackers chain, collapsing the price, thus collapsing the hashrate, and forcing miners to come back to the original chain or go out of business.

Nobody said anything about inflation.  You erroneously claimed "21 million coins" constitutes a Schelling point for Bitcoin.  You're making shit up on the fly.  You can have infinite different forks all with a 21 million coin count.  There is no Schelling point in shitcoins.  Stop constantly lying.  It's also 100% guaranteed for Bitcoin to be co-opted by the state since transaction validators are designed to centralize, not that the state wasn't involved in it's creation in the first place.

Increasing the supply of X does definitely not increase the supply of Y.

The schelling point in altcoins vs Bitcoin is to stay in Bitcoin since it's the safest, most time-tested one, remaining altcoins will just be like penny stocks which you get to sell to increase Bitcoin stack (that's all that they are now basically).

This thread is a complete joke now.  In the earlier days of Bitcoin, just about everyone in it was pro-metals.  The only people who are anti-metals are these little fly by night, shithead millenial scammers like Micgoossens and this pereira4 guy.  The only reason they're anti-metals is because they know metals have far better fundamentals and it's an extreme danger to their imaginary, valueless, digital token Ponzi scheme.

Im not anti metals. Being anti metals is just as dumb as being anti Bitcoin. There are reasons to own both.

[jbreher]

... but could xapo really own so many coins?

Why not? While 'own' may be a stretch, they do have one of the most elaborate and trusted custody services in the cryptoshpere.

[yefi]

Not API imo

kracken last week 100 USD
coinbase april 2017 0.06 USD
Stamp June 2016 1.50 USD
Bithump Oct 2017 500 USD
Bitfinex feb 2014 100 USD

You've just presented another "crash" which is almost certainly an error in the feed. It's 500 KRW not USD by the way, and you can see that it isn't repeated in Bithumb's own chart.