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

[realr0ach]

Jbrehers avatar is a BEAR, BEARS ARE THE SYMBOL OF RUSSIA!

[JayJuanGee]

I should really dig up some old JayJuanGee shitposts and get a good lol at how time makes him look like a dipshit.

Wow.  Do I look worse that roach, who sold all his BTC in the $700 arena?  Or does it just look bad because I mostly engaged in dollar cost averaging and accumulation of bitcoin.  Of course, anyone who had been accumulating bitcoin in the past 5.5 years is going to look like such a BIGASS dipshit.

I feel bad for myself.. especially because whatever I did caused me to become rich beyond my expectations.  That would have been dipshitty of me.

Blockchain.com (AKA Blockchain.info) is basically altcoin central now because the market is shifting away from BTC because people aren't fans of waking up to $150 txid fees.  *shocker*

I did not realize that you turned into a BIG blocker troll and bitcoin naysayer, pumping of that kind of bullshit.

Want to know why Bitcoin is about to slip under 60% dominance in the cryptocurrency market?  

do you realize that the bitcoin dominance index on coinmarket cap is a bullshit indicator; however, even though that index is full of shit because it tends to continuously get distorted by a continued addition of new scams that are added to it, and even when they continue to add shitcoins and fluff, the index still shows bitcoin largely holding its own and even growing amongst bullshit attempts to dilute the real dominance of bitcoin.  in terms of sound money and in terms of network effects.

Because lots of people lost lots of faith in it... who cares if you got a few rich dipshits holding the hundred billion dollar market up with a few hundred million bucks... it's the market that you want vs just a few rich dicks.  "He can move $100 million dollars for $200, that's a great deal!"... but that dude that's trying to pay his $500 rent is also paying $200 to move his coins.  It's a bad deal.

 People can decide whether or not they want to use the bitcoin blockchain to move coins and get an estimation of fees before they make the choice to actually transmit their coins.... or how many to transmit.

Ever try to sell a Bitcoin to normal people at these levels?  You'll starve.

Yes you are making shit up.  Still trying to propagate myth that is not true.... but who cares if you are making shit up or not.. you have some kind of mission to spout out dumbass BIG BLOCKER and bitcoin naysayer talking points.

You got to go to certain places that have these few rich dick funds.  Bitcoin is way overpriced right now and the market is doing speed wobbles.

I expect Bitcoin under $5,000 by OCT.

 I doubt that you are going to get coins that low, but hey, if you are putting your money where your mouth is, then who really cares if you are correct or not, because if you are correct, you will be able to laugh all the way to the bank, AmiNOTrite?

[HairyMaclairy]

Lads - tell us all a story. What is the best way you almost died?  

Similar story, too young driving a 350z, doing 90 mph in the drain, lost traction and spun, I wasn't in any control but I barely dodged a semi hauling massive steel beams for a bridge, I slingshotted off the highway up and over a ditch and on to a hill. During the spin, I was peaceful and like "well this could be it." Afterwards the shock set in.

 Nice.  Took me awhile to figure out why you were driving in the drain.  

(Rain).  I have only spun once.  It was on a track day and I lifted off fast coming into a corner and then turned in sharply doing about 120kmh / 70 mph .  Got an intense lesson in liftoff oversteer that I won’t forget anytime soon.  

The car spun flat about six times and then very slowly spun into a tire wall.  It was only doing about 10kmh by the time it hit the tire wall and only made a mild dent in the front quarter panel.  Good scare though.  

[HairyMaclairy]

BayAreaCoins has been a big blocker government agent for a long time now.

[Patel]

I should really dig up some old JayJuanGee shitposts and get a good lol at how time makes him look like a dipshit.

Blockchain.com (AKA Blockchain.info) is basically altcoin central now because the market is shifting away from BTC because people aren't fans of waking up to $150 txid fees.  *shocker*

Want to know why Bitcoin is about to slip under 60% dominance in the cryptocurrency market?  Because lots of people lost lots of faith in it... who cares if you got a few rich dipshits holding the hundred billion dollar market up with a few hundred million bucks... it's the market that you want vs just a few rich dicks.  "He can move $100 million dollars for $200, that's a great deal!"... but that dude that's trying to pay his $500 rent is also paying $200 to move his coins.  It's a bad deal.

Ever try to sell a Bitcoin to normal people at these levels?  You'll starve.  You got to go to certain places that have these few rich dick funds.  Bitcoin is way overpriced right now and the market is doing speed wobbles.

I expect Bitcoin under $5,000 by OCT.

Shhhh the truth hurts some.

But the Bitcoin under $5,000 prediction is not likely imo.

Although, when looking at all the blockchain communities individually, I feel there are other projects which will be gaining on BTC in the months and years to come.

Bitcoin is great but it has many flaws, which many "maximalists" in the community will try to defend till the death. Heck, I am a BTC maximalist in a sense because that's 80%+ of my portfolio, but it does have flaws. But i'm not a die hard loyal to any blockchain. If something better comes along, i'll happily dump and move over. But as of now, nothing can really beat BTC at the moment.

Although, privacy, scalability, decreasing mining subsidies (2 halvings in the future I think), very slow if not impossible to add features which require hard forks. We're seeing mining fees very low right now, which is cool, but people won't be willing to pay $100 to get into the next block. This alone will drive users to other chains which can provide the utility and liquidity they are looking for.

I've been following this industry closely since 2011, and I'm extremely bullish on the cryptocurrency industry in general, but I do foresee other projects gaining traction against BTC.

Although, I think BTC will remain the market cap leader for quite some time.

[HairyMaclairy]

So tell us oh shitcoiner, what is the next Bitcoin?

[Patel]

Who knows...

But the one that thinks Bitcoin is the one and only and forever is a fool.

Something better will always come, time after time.

[JayJuanGee]

Who knows...

But the one that thinks Bitcoin is the one and only and forever is a fool.

Something better will always come, time after time.

You seem to be creating a strawman argument.

I have heard a lot of relatively bitcoin maximalist present arguments on the topic of bitcoin, yet I have not heard any one of them assert that bitcoin is the one and only and forever.

Frequently, they say things like this: 1) bitcoin is the best at the moment, 2) there is nothing really broken about bitcoin, and 3) there is nothing that is even close to bitcoin, so in that regard, even so called bitcoin maximalists might be willing to hedge their bets on another coin, if there were any that offered anything close to bitcoin and/or if there were significant and material flaws in bitcoin that were significantly and meaningfully addressed in another coin or some other project.

So, your seemingly dumbass strawman argument tries to suggest that there are a bunch of stupid-ass religious bitcoin maximalists who are going to go with bitcoin (and down with the ship) at any cost as if they are locked into their investment no matter what.

I will agree that there seem to be a whole hell of a lot of "holders of last resort" in bitcoin that cause bitcoin's price to not go down as much as some no coiners or bitcoin naysayers would prefer, but part of the likely reason that a vast majority of these  holders of last resort do not sell their bitcoin is because there is nothing significantly or meaningfully wrong with bitcoin and there is no other coin, project or asset that seems to even come close to bitcoin in terms of both fundamentals and network effects... including that bitcoin is a paradigm shifting technology that offers the world a kind of sound money in a format and reality that had never ever existed in history, which is likely going to alter history forever, and so long as bitcoin is holding that mantel, the holders of last resort are likely to stay with bitcoin.  Go figure.

[Biodom]

Who knows...

But the one that thinks Bitcoin is the one and only and forever is a fool.

Something better will always come, time after time.

I understand this argument, even consider it myself from time to time, but it does not always work like this.

An example:
Life on earth is based on carbon. Could there be a better life, based, say, on Si? Maybe, but on this planet life appeared only once and remains the same in its basic setup. It will stay the same until it is gone (if it ever happens).

Unrelated example, really, just to show that better or even different not always come (is realistic time frames).
Better search than Google, bigger social than facebook-maybe, but not something foundational like language if we are coming closer to discussing bitcoin. We are not suddenly going to decide to use some minor language worldwide.

A bigger existing network can take over some functions, but at this point new crypto is unlikely to do it, I think.
That is with a caveat that I don't consider libra a cryptocurrency (as it is most similar to a currency ETF or a mutual fund).

[heslo]

Fuck driving a scooter/moped. I nearly died in a car accident when I was in my early 20’s. I would have been in about 100 pieces if I was on a scooter. I’m too much of a pussy to feel safe on a scooter.

Thats why you ride one of these.



Whats behind me cannot hurt me.

But then again hitting a tornado at 120 almost did.

I didn't see your 1pt font line until I quoted your comment to reply, it didn't even register on my eyeballs.

So I'm abandoning my previous reply to ask you this: Were you trying to just speed through the tornado, or, why didn't you turn around?

It came out of no-where, one second it was sunny and then I was in a rainstorm (the rain was nailing my hands like needles) and hit an exit with a river pouring down it and hydroplaned up the thing went between 2 cars and layed the bike down so as to not hit the rail while up and flip over onto the highway. I got really lucky that day, only ground half a kneecap off. I did end up getting a staff infection a week later as the Doc left some road in my leg and spent a few weeks fighting for the leg (apparently i should have gone right in and not walked around a week on it all swollen up) but no lasting repercussions except i had the nickname crash at the barracks for awhile after that.

That sounds intense.  Glad you came out of it ok

Lads - tell us all a story. What is the best way you almost died?  

My most memorable was a few years back driving my GTR. I say memorable because I wasn't driving like an idiot it was just a freak occurrence. Driving along in the rain up in the hills on the way to my now wifes house back when she was living up there with her sister and came around a long sweeping bend; nothing unusual just like the other hundred or so times I'd driven the road. All of a sudden I'm facing the opposite direction hydroplaning into a massive tree (the only one for a few hundred meters of course) I somehow wrangle back control, come to a stop, gather my thoughts and think how lucky I was had a car not been coming the other way. Really opened my eyes to just how things can change when you're even doing everything right. I assume there was some oil or something of the sort on the road that caused me to lose control like that but I'm always cautious of that bend now... bad experience

[HairyMaclairy]

Who knows...

But the one that thinks Bitcoin is the one and only and forever is a fool.

Something better will always come, time after time.

So you have no idea, but you are completely sure. Nice.  

[realr0ach]

BayAreaCoins has been a big blocker government agent for a long time now.

BayAreaCoins, as a paid ESF Jew shill, what is your opinion on the govt rounding up and arresting all members of the CFR, BIS, IMF, and all the Mossad Jew shills like Wolf Blitzer, Jake Tapper, and useful idiot, shabbos goyim like Anderson Cooper and executing them all for the charges of sedition, treason, human trafficking, drug trafficking, organ trafficking, financial fraud, and war crimes?

Afterwards, freeze all assets of the evil cult of Judaism in places like NYC, then drop a few strategic nukes on Israel in retribution for their hundreds of false flag terror attacks such as the USS Liberty, 9/11, and involvement in the Kalergi plan?  Then as per the coinage act of 1792, reinstate physical metals as the only form of money.

[bitebits]

Nothing better than a PlanB tweet to close the lazy Sunday:

https://twitter.com/100trillionusd/status/1153023408072011776?s=21

#bitcoin looks undervalued compared to Gold & Silver

why do people compare virtual things like bitcoin to physical things like gold?

SoV?

[realr0ach]

why do people compare virtual things like bitcoin to physical things like gold?

SoV?

Bitcoin is a currency, not money.  It's in the word cryptocurrency just in case you're extremely slow.  Currencies are by definition all valueless, Keynesian constructs based on artificial scarcity that start at a value of zero and always return there.  They're obviously not "stores of value", but simply confidence games.  It's not possible to claim Bitcoin is a "store of value" without simultaneously claiming Dogecoin is a store of value at the same time, and by definition all 5 billion other digital shitcoins.  Obviously none of them are because they're currencies and not money.  

To be money, aka a store of value in the context of humans requires being a non-perishable, physical commodity resource.  A box of iodized table salt can serve as a limited form of money having a shelf life of 5 years, while noble metals work much better almost completely defying entropy eternally.  Bitcoin isn't even non-perishable because it's shelf life is completely unknown.  It can die to hundreds of black swans metals are immune to, and like all confidence games, it can die at any second just by falling into disfavor because it's not a resource in itself.

[infofront]

Results:



New poll incoming

[bitebits]

Bitcoin is a currency, not money.  It's in the word cryptocurrency just in case you're extremely slow.

Like Bitcoin is an actual coin, got it.

[JayJuanGee]

why do people compare virtual things like bitcoin to physical things like gold?

SoV?

Bitcoin is a currency, not money.  It's in the word cryptocurrency just in case you're extremely slow.  Currencies are by definition all valueless, Keynesian constructs based on artificial scarcity that start at a value of zero and always return there.  They're obviously not "stores of value", but simply confidence games.

 

You are getting way to damned caught up in attempting to make your point that, instead, you make no sense.  Do you think that gold had any storage of value when it first started to be used?  Of course not.  Gold evolved into a storage of value from zero and based on confidence has been able to retain such storage of value.

Bitcoin is better than gold because it can be used as both a currency and as a storage of value, and just like gold with the passage of time, bitcoin is going to appreciate more and more in value, and perhaps at some time 100 years from now, it will stabilize with greater world adoption, yet in the process of appreciating more and more in value, bitcoin will be adopted way faster than gold and perhaps take over several of gold's use cases, because bitcoin is a better storage of value than gold.  So get the fuck out of here with repetitious conclusory assertion that bitcoin cannot be a sov because it is a currency... while it is both a currency and a storage of value and also can be used as other things as well... that gold cannot.

It's not possible to claim Bitcoin is a "store of value" without simultaneously claiming Dogecoin is a store of value at the same time, and by definition all 5 billion other digital shitcoins.  

 

Retarded.  Of course, shitcoins do not dilute bitcoin's scarcity, even if you would like to assert that it is possible to print more bitcoin through the creation of more shitcoins.  You likely know that is not true, but you continue to make such baseless assertions.

Obviously none of them are because they're currencies and not money.  

 

Focus on bitcoin, diptwat.  The other shitcoins are not relevant to this discussion, except in some peripheral way, at best, not in the kind of wrong dilution of scarcity way that you are attempting to place them.

To be money, aka a store of value in the context of humans requires being a non-perishable, physical commodity resource. 

 

Nonsense.  This a reductio ad absurdum fallacy.

A box of iodized table salt can serve as a limited form of money having a shelf life of 5 years, while noble metals work much better almost completely defying entropy itself.  Bitcoin isn't even non-perishable because it's shelf life is completely unknown.  It can die to hundreds of black swans metals are immune to, and like all confidence games, it can die at any second just by falling into disfavor because it's not a resource in itself.

You make a simple and dumb assertion that only physical matters can count.. which is merely a repetitive argument that you make that is surely a demonstration of ignorance and an appeal to ignorance.

[JayJuanGee]

Results:



New poll incoming

Are you going to provide us with an assessment of prior assertions regarding consensus?

Do you believe that I was moar koreck than you in my assertion of peak of the next high consensus?

I know I am a smart ass, especially recently.  Therefore, I will just type a couple more words (albiet repeated):

waiting.......... .



waiting....... .



 

[realr0ach]

Like Bitcoin is an actual coin, got it.

That's a psychological ploy they used to try and trick people into associating something that's imaginary with no value with something that actually exists that the human mind has an affinity to as money or value - physical metal coins.  Regardless,  Bitcon is obviously a currency and not money.  It's not a commodity, not a resource, and doesn't have any of the traits required of money like fungibility, durability, acceptability, etc.  

Not fungible - no explanation needed.  No acceptability - anyone can create a digital shitcoin in their basement so they have no Schelling point, while it's not possible for humans to create a new noble metal so the Schelling point works.  As I said before, the durability of iodized table salt is 5 years and the durability of noble metals is almost eternal, while Bitcoin durability is unknown and can die at any second through numerous black swans a real commodity is immune to, or fall into disfavor and die like all confidence games because it's not a resource in itself.  It simply does not pass any of the tests of 'money' and even refers to itself as a currency and not money.

[rebal15]

Like Bitcoin is an actual coin, got it.

That's a psychological ploy they used to try and trick people into associating something that's imaginary with no value with something that actually exists that the human mind has an affinity to as money or value - physical metal coins.  Regardless,  Bitcon is obviously a currency and not money.  It's not a commodity, not a resource, and doesn't have any of the traits required of money like fungibility, durability, acceptability, etc.  

Not fungible - no explanation needed.  No acceptability - anyone can create a digital shitcoin in their basement so they have no Schelling point, while it's not possible for humans to create a new noble metal so the Schelling point works.  As I said before, the durability of iodized table salt is 5 years and the durability of noble metals is almost eternal, while Bitcoin durability is unknown and can die at any second through numerous black swans a real commodity is immune to, or fall into disfavor and die like all confidence games because it's not a resource in itself.  It simply does not pass any of the tests of 'money' and even refers to itself as a currency and not money.

"anyone can create a digital shitcoin in their basement so they have no Schelling point"

here is an example https://www.coindesk.com/diana-a-blockchain-lunar-registry-attempts-to-tokenize-the-moon
I read the article twice but still I do not understand anything.