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September 19, 2019, 01:09:12 AM *
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Question: Sept. 21 Closing Price:
$0 - 3 (3.5%)
<$8,000 - 4 (4.7%)
$8,000-$8,500 - 1 (1.2%)
$8,500-$9,000 - 1 (1.2%)
$9,000-$9,500 - 3 (3.5%)
$9,500-$10,000 - 6 (7%)
$10,000-$10,500 - 16 (18.6%)
$10,500-$11,000 - 18 (20.9%)
$11,000-$11,500 - 17 (19.8%)
$11,500-$12,000 - 5 (5.8%)
>$12,000 - 7 (8.1%)
>$20,000 - 5 (5.8%)
Total Voters: 86

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21368821 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. (106 posts by 21 users deleted.)
jojo69
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June 18, 2019, 05:25:55 PM

Sub $9,000 again, let’s see how this plays out.

obviously it's the end of Bitcoin
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serveria.com
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June 18, 2019, 05:38:39 PM

Wow I thought bones261 was a nice guy but giving merit to gembitz? WTF man?
bones261
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June 18, 2019, 05:40:43 PM

Wow I thought bones261 was a nice guy but giving merit to gembitz? WTF man?


I liked the logo that he gave for libra. Want to see more of that from him.  Cheesy
Biodom
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June 18, 2019, 05:44:03 PM

re that facebookcoin thingie...
basing on what i read...did not read the white paper yet...

They said that it is 'backed' by currencies and/or gov bonds, but the question is to what proportion.
If it anything less than 1:1, then they are acting like a bank without being officially a bank (no bank license).
French already raised a question about it.
The question of sovereignty also came up.
Neo_Coin
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June 18, 2019, 05:49:28 PM


ZuckCoin... ZuckCoin... can't find it in Coinmarketcap.  Grin Grin
bitserve
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June 18, 2019, 05:52:53 PM
Merited by vapourminer (1)

re that facebookcoin thingie...
basing on what i read...did not read the white paper yet...

They said that it is 'backed' by currencies and/or gov bonds, but the question is to what proportion.
If it anything less than 1:1, then they are acting like a bank without being officially a bank (no bank license).
French already raised a question about it.
The question of sovereignty also came up.


There are much more questions about that point:

- They say it is a (somewhat?) stable coin, but as soon as they are backing it with a basket of different assets/currencies the price MUST fluctuate.

- If the value of the underlaying assets fluctuate does the price gets set by them according to that estimated recalculated value? If so, every second? minute? hour? day?... yearly?

- If they don't set the price then exchanges should exist for that. Once the coin is tradable no matter what the real value of the underlaying assets is the price could fluctuate heavily in relation to its real value (pumps and dumps).

In conclusion, the pricing thing alone will be a complete nightmare and shitshow.

Other day we could talk about security... as in.... even if it is backed by real assets in custody... what happens if, for example, facebook gets a massive hack in which millions of users get their wallets emptied? What if they mess up with the emission in relation to the backing assets?

Bitcoin has a clear distance from that sort of incidents (even if they impact it in some way each time a big hack happens) but in this case? The shit will be all over the place.

The more I think about it, it would have been safer for them to just implement a multi-crypto wallet into their network and distance from the coin/s used instead.

We will see.

jbreher
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June 18, 2019, 05:54:40 PM

According to the technical White Paper there should be ways to remain "pseudonymous"

Quote
Account addresses.
The Libra protocol does not link accounts to a real-world identity. A user is free to create multiple
accounts by generating multiple key-pairs. Accounts controlled by the same user have no inherent
link to each other. This scheme follows the example of Bitcoin and Ethereum in that it provides
pseudonymity [19] for users.


1 Concretely we instantiate hash functions with SHA3-256 [17] and digital signatures with EdDSA using the ed-
wards25519 curve [18].
https://developers.libra.org/docs/assets/papers/the-libra-blockchain.pdf

Just because the permissioned protocol allows for pseudo-anonymity does not mean that the permissioned access points will not add identifying links.
TomCrypto
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June 18, 2019, 05:59:52 PM
Merited by bones261 (2), Halab (2), vapourminer (1), Biodom (1), JayJuanGee (1), bitserve (1)

Here is an interesting report from binance research that took a first glance at Libra.
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June 18, 2019, 06:02:24 PM
Merited by thisisntbic (1)

Sadly, not worth the time to read that. Terrible shitcoin.

Great summary!
And for the first time in history, (almost) everybody at bitcointalk will agree with Lauda  Grin

Terrible shitcoin? Sure.

Not worth the time to read? Are you fucking kidding me? Go ahead and wallow in your ignorance. Shitcoin notwithstanding, this Libra thingy is fairly likely to gain significant traction. As such, its very existence will impinge upon the public market perception of Bitcoin.

And frankly, Lopp's take (disclaimer: I've read his article, but have not read FB's source doc) seems like a useful distillation of several of Libra's aspects.

I mean, if you want to base your decisions from a position of ignorance, then knock yourself out. Wiser folk would at least try to garner a cursory understanding.
VB1001
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June 18, 2019, 06:11:29 PM

I also have some shitcoins, it was when I had a small miner in gear.

Now for a long time I have passed everything to BTC.
Before trading aggressively, sometimes lost and others won, now only deals with 10% of the total and hodl.

This brings me to a reflection:

Bitcoin is like your GF, the altcoins are the rest of the girls that you like, but they can ruin your life, you decide. Tongue

This twitt is quite explicit:

Quote
Every Bitcoiners at some point gets tempted to do some altcoin.

Only those that really understand Bitcoin's value will be able to resist.

Learn before you're tempted.

https://twitter.com/jimmysong/status/1138998826075901953
bitserve
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June 18, 2019, 06:11:43 PM

Here is an interesting report from binance research that took a first glance at Libra.

Yeah, very detailed and interesting indeed. Merited.
jbreher
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June 18, 2019, 06:14:43 PM

They are reinventing the Tether scam. A crypto pegged to FIAT. Nothing to see here.

But one difference with Tether is that Tether is not a scam.  Tether is actually used (and that is why tether get's so much hate in the media, including gov'ts and financial institutions), as contrasted with the vast majority of the other allegedly "stable" coins.

Tether was fully backed by collateral deposits. Until it wasn't.

Tether was so not a scam. Until it was.
bitserve
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June 18, 2019, 06:20:36 PM

They are reinventing the Tether scam. A crypto pegged to FIAT. Nothing to see here.

But one difference with Tether is that Tether is not a scam.  Tether is actually used (and that is why tether get's so much hate in the media, including gov'ts and financial institutions), as contrasted with the vast majority of the other allegedly "stable" coins.

Tether was fully backed by collateral deposits. Until it wasn't.

Tether was so not a scam. Until it was.

Except we don't really KNOW if it was really fully backed. Also, neither cash nor BANKING FIAT are absolutely NON-FUNGIBLE... if they were selling Tether in exchange of banking fiat coming from dubious individuals/corporations, those funds were not really worth their face value because you are assuming a risk (that finally materialised) that the funds gets frozen later.

That's the reason even people (not only governments/banks) do require reasonable KYC on the origin of funds for big purchases, because you could end up without the sold good plus the obtained funds seized on a later date.
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June 18, 2019, 06:24:19 PM

We haven't even sustained a break below $9k, what kinda dump is this?



Less than 12 hours later and the market has done a complete 180. More swastikas and shitcoin talk

Just the kind of dumps I like 🤓
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June 18, 2019, 06:26:16 PM

From the Binance report: “Libra may spark additional cryptocurrency volume due to increased accessibility from both institutional players and everyday retail users.“

Noted.
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June 18, 2019, 06:27:24 PM

I've been preparing myself mentally for 8000.
micgoossens
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BTFD, on to 15K a coin !!!!


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June 18, 2019, 06:27:53 PM

Wow I thought bones261 was a nice guy but giving merit to gembitz? WTF man?


I liked the logo that he gave for libra. Want to see more of that from him.  Cheesy

Ain’t gonna get some though...
micgoossens
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BTFD, on to 15K a coin !!!!


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June 18, 2019, 06:28:16 PM

I've been preparing myself mentally for 8000.

Prepare for 12,000
jbreher
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June 18, 2019, 06:28:42 PM
Merited by vapourminer (1)


I find the participation of these nonprofits interesting:

Quote
Nonprofit

Women’s World Banking – uses a network of 40 independent micro-finance institutions and banks provide support to entrepreneurs in the underdeveloped world with an emphasis on women

Kiva – 501 non-profit organization that allows users to lend money to low-income entrepreneurs in over 80 countries through its platform

Mercy Corps – global humanitarian aid organization that provides support to regions hit by disasters, whether they be economic, environmental, social or political

Also the fact that both Uber and Lyft are onboard, but nobody else running 'the sharing economy' such as AirBnB, et al.
jojo69
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June 18, 2019, 06:29:24 PM
Merited by Majormax (1)

I've been preparing myself mentally for 8000.

I mean, there has to be a real pullback at some point to establish a higher low...right?
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