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

[JayJuanGee]

This is my 10,000th post, I have had a blast spending so much time with all of you fuckers. This one is for all of you guys and to 10,000 more post to come and hopefully a majority in this thread! The price right now is back and forth around $10k and hopefully by the time it is 20,000 post the price jumps to more than $20,000. (It was $50 when the first post started)

Something seems weird about your profile.  Of course, your registration date goes back to September 2012, but your post history only goes back to early 2014. 

I did a quickie glance at mine too, because I was thinking that maybe all of my posts were not there, but they seem to be there.  My post history seems to go back to my registration date which was February 2014. 

I recall that in my first few months of forum membership, I posted way less frequently than I have been posting in recent times.  In my early days I was posting about 3 posts per day or something like.. maybe even less than that, and those early posts were exclusively in this WO thread. 

Currently, I am probably posting more than 8 posts per day on average, but still most of my posts (more than  80%) are in this thread, even though in the past couple of years, I have been venturing out of this thread into other parts of the forum a whole hell of a lot more.

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[jbreher]

My question to those who predict 100K within less than two years or so.
Why the discounting mechanism is not working?

Either the model is wrong/irrelevant OR the market is incapable of correctly pricing future expectations now.

The latter.

We've seen this time and time again. The world at large has not yet awakened to the fact that they need a form of money that is not inflationary, and is free from intervening middlemen who can conspire to thwart or devalue their transactions.

You are so funny.
The world is going on the other direction. Boris, trump, marie le pen and all the others.

it is very difficult to understand whether you are making any meaningful point at all

The world would have a form of money if it was united as a country. With all these conflicts; either economic, monetary, technological, religious or others, due to the desire of domination, I do not think the world will have a single currency.

Bitcoin does not need to be a 'single currency for the entire world' for increasingly large fractions of people in each corner of the world to awaken to the fact that a weightless, invisible, uncensorable, uninflatable, unconfiscatable form of money is A Good Thing.

Even if it will happen in the future, I don't think that a software can be a source of international monetary system.

Hmmm. Good thing Bitcoin is ever so much more than merely 'a software'.

[makrospex]

.... zooming the pic 400%

I don't know why I always seem to see an ironic pun regarding your username in your posts.

I don't know either. But really, always?

Nope, not really always. But twice in a week or two just kinda stuck out.

XD

While ageing, my iSight (pun intended this time) is suffering more and more from astigmatism, so zooming in on pictures with many details got quite a habit. 

[JayJuanGee]

My question to those who predict 100K within less than two years or so.
Why the discounting mechanism is not working?

Either the model is wrong/irrelevant OR the market is incapable of correctly pricing future expectations now.

The latter.

We've seen this time and time again. The world at large has not yet awakened to the fact that they need a form of money that is not inflationary, and is free from intervening middlemen who can conspire to thwart or devalue their transactions.

You are so funny.
The world is going on the other direction. Boris, trump, marie le pen and all the others.

It could be helpful if even a troll/shill like you were sufficiently competent to at least attempt to follow the topic.. Instead, it is very difficult to understand whether you are making any meaningful point at all, whether connected to the topic of the posts or otherwise.

JJG*, Your answers are always the same,they are "you are trolling+noob+***".  no explication, no reason.

Perhaps my posts that are directed towards you have a common theme, and I am not sure whether that is intentional or not.  I have not performed any kind of deeper analysis attempt of myself to see whether my algorithm (whoops, maybe I should not have said that?) is broken.

Your posts tend to be a kind of gobble-dee-gook-gibberish... but every once in a while, you might happen to make some sense.  Go figure?

The world would have a form of money if it was united as a country. With all these conflicts; either economic, monetary, technological, religious or others, due to the desire of domination, I do not think the world will have a single currency.
Even if it will happen in the future, I don't think that a software can be a source of international monetary system.

Case in point.  Abstract gobble-dee-gook that does not really say much if anything beyond that you assertively don't believe in bitcoin - either its present value or its future value.  O.k.  Fair enough.  Good for you.

By the way, who cares in your sharing of abstract principles that you do not believe in bitcoin?  So what?   You believe that your posts are contributing any value to this thread?  I have my doubts, but whatever.   I see that you have earned 4 merits in the past year and a half, so there are likely some like-minded dipwits members**  who appreciate your "contributions."

**before I submitted post, I had to look up who had sent you smerits, hahahahaha, and I see that one of the two is not a dipwit... but I otherwise stand by my assertions...    

[fillippone]

Events to celebrate:

1. WO page parity
2. 100K BTCUSD
3. WO Post parity
4. Gold Parity (BTC capitalisation equals Gold Capitalisation).

If we are to assume that appreciation in Bitcoin price comes in large part from cannibalization of gold market, you have 3. & 4. reversed.

Early musings:
https://bitcointalk.org/index.php?topic=152944.0

$800K assumes static gold valuation. If bitcoin purchases are funded by gold sales, the napkinback figures say $400K crossover.

Funny thing, i did the exact same "back of the envelope" calculations years ago, even before joining the forum, but i got quite differnet numbers.
Copying and pasting from vbery old spreasheet:

Circulating Bitcoin   21,000,000
GOLD CAPTIALISATION   7,311,002,497,490.22
http://onlygold.com/Info/All-The-Gold-In-The-World.asp   
   
      
Bitcoin share   50.00%
Equal Share   174,071

So, if Bitcoin Equals Gold to 50% of current Gold Capitalisation, I get the value of a single bitcoin at 175,000 USD.
For Bitcoin to match gold capitalisation it need to get to 350K USD.

All computation made with 21 mios BTC supply (resulting in conservative estimates)

So basically I get half your valuation, with the same method!

Easy to see. The figure I found for above-ground gold was approx 10 Billion oz. I just 'rounded' it to 10.5B in order to divide neater into Bitcoin's 21M eventual count. So there's item 1. I don't know whether your 7.3B is any closer to the truth than is my 10.5B. And for the purposes of this sort of blue-sky figuring, I posit that it really doesn't matter.

I assume the rest of the discrepancy is in the $/oz for gold. When I ran the figures, gold was enjoying a local peak of $1600. I don't see the value you used.

The website I used is quite old and don't contains the info anymore, but this more recent article seems to support my evidences:
https://www.newsbtc.com/2019/03/25/bitcoin-price-gold-market-cap/

[rebal15]

My question to those who predict 100K within less than two years or so.
Why the discounting mechanism is not working?

Either the model is wrong/irrelevant OR the market is incapable of correctly pricing future expectations now.

The latter.

We've seen this time and time again. The world at large has not yet awakened to the fact that they need a form of money that is not inflationary, and is free from intervening middlemen who can conspire to thwart or devalue their transactions.

You are so funny.
The world is going on the other direction. Boris, trump, marie le pen and all the others.

It could be helpful if even a troll/shill like you were sufficiently competent to at least attempt to follow the topic.. Instead, it is very difficult to understand whether you are making any meaningful point at all, whether connected to the topic of the posts or otherwise.

JJG*, Your answers are always the same,they are "you are trolling+noob+***".  no explication, no reason.

Perhaps my posts that are directed towards you have a common theme, and I am not sure whether that is intentional or not.  I have not performed any kind of deeper analysis attempt of myself to see whether my algorithm (whoops, maybe I should not have said that?) is broken.

Your posts tend to be a kind of gobble-dee-gook-gibberish... but every once in a while, you might happen to make some sense.  Go figure?

The world would have a form of money if it was united as a country. With all these conflicts; either economic, monetary, technological, religious or others, due to the desire of domination, I do not think the world will have a single currency.
Even if it will happen in the future, I don't think that a software can be a source of international monetary system.

Case in point.  Abstract gobble-dee-gook that does not really say much if anything beyond that you assertively don't believe in bitcoin - either its present value or its future value.  O.k.  Fair enough.  Good for you.

By the way, who cares in your sharing of abstract principles that you do not believe in bitcoin?  So what?   You believe that your posts are contributing any value to this thread?  I have my doubts, but whatever.   I see that you have earned 4 merits in the past year and a half, so there are likely some like-minded dipwits members**  who appreciate your "contributions."

**before I submitted post, I had to look up who had sent you smerits, hahahahaha, and I see that one of the two is not a dipwit... but I otherwise stand by my assertions...    

JJG, you are always out of subject. bots can't understand the meaning.

[rebal15]

My question to those who predict 100K within less than two years or so.
Why the discounting mechanism is not working?

Either the model is wrong/irrelevant OR the market is incapable of correctly pricing future expectations now.

The latter.

We've seen this time and time again. The world at large has not yet awakened to the fact that they need a form of money that is not inflationary, and is free from intervening middlemen who can conspire to thwart or devalue their transactions.

You are so funny.
The world is going on the other direction. Boris, trump, marie le pen and all the others.

it is very difficult to understand whether you are making any meaningful point at all

The world would have a form of money if it was united as a country. With all these conflicts; either economic, monetary, technological, religious or others, due to the desire of domination, I do not think the world will have a single currency.

Bitcoin does not need to be a 'single currency for the entire world' for increasingly large fractions of people in each corner of the world to awaken to the fact that a weightless, invisible, uncensorable, uninflatable, unconfiscatable form of money is A Good Thing.

Even if it will happen in the future, I don't think that a software can be a source of international monetary system.

Hmmm. Good thing Bitcoin is ever so much more than merely 'a software'.

single currency : I mean fiats. Bitcoin and altcoins are sure will never be.
a software: what ever you call it.

[makrospex]

a software: what ever you call it.

software is only one type of handling the (mathematical) algorithm in a convenient, automated way. So in fact "software" is only your name for it.
What it is, i bet you know: a blockchain with a simple, specific usecase. The chain (bitcoin) itself is just "output", coming from the algorithm (used by software).
"Software" is clearly incorrect. Looking at complex things the simple way doesn't make them simple at all.

[rebal15]

a software: what ever you call it.

software is only one type of handling the (mathematical) algorithm in a convenient, automated way. So in fact "software" is only your name for it.
What it is, i bet you know: a blockchain with a simple, specific usecase. The chain (bitcoin) itself is just "output", coming from the algorithm (used by software).
"Software" is clearly incorrect. Looking at complex things the simple way doesn't make them simple at all.

Ok, thank you.
Can Bitcoin be considered as an input to an algorithm (used by software).

[rattle_rattle]

This page on the thread must be one of the longest ever. It took me ages to scroll trough it.

[jbreher]

This page on the thread must be one of the longest ever.

You must be new here.

[jbreher]

a software: what ever you call it.

software is only one type of handling the (mathematical) algorithm in a convenient, automated way. So in fact "software" is only your name for it.
What it is, i bet you know: a blockchain with a simple, specific usecase. The chain (bitcoin) itself is just "output", coming from the algorithm (used by software).
"Software" is clearly incorrect. Looking at complex things the simple way doesn't make them simple at all.

Ok, thank you.
Can Bitcoin be considered as an input to an algorithm (used by software).

Only in the same sense as you yourself can be considered as a specific sequence of cytoseine, guanine, adenine, and thymine, as an input to ribosomes.

[makrospex]

a software: what ever you call it.

software is only one type of handling the (mathematical) algorithm in a convenient, automated way. So in fact "software" is only your name for it.
What it is, i bet you know: a blockchain with a simple, specific usecase. The chain (bitcoin) itself is just "output", coming from the algorithm (used by software).
"Software" is clearly incorrect. Looking at complex things the simple way doesn't make them simple at all.

Ok, thank you.
Can Bitcoin be considered as an input to an algorithm (used by software).

Once you get the grip on computing, that it's just a representation, or "realisation" of mathematical/logical processes, you will see things more clear.
These end users nowadays... The industry needed them to grow, but i remember better times, when computing was a thing you really needed to wrap your head around. No mouse, no touchscreens, -pads, whatever and 56k modem speed, at best  

EDIT: Wallobservers, i recognise ongoing reduction of bitcoin spam in my mailboxes. Not a good sign for 2019, i guess.

[rebal15]

a software: what ever you call it.

software is only one type of handling the (mathematical) algorithm in a convenient, automated way. So in fact "software" is only your name for it.
What it is, i bet you know: a blockchain with a simple, specific usecase. The chain (bitcoin) itself is just "output", coming from the algorithm (used by software).
"Software" is clearly incorrect. Looking at complex things the simple way doesn't make them simple at all.

Ok, thank you.
Can Bitcoin be considered as an input to an algorithm (used by software).

Once you get the grip on computing, that it's just a representation, or "realisation" of mathematical/logical processes, you will see things more clear.
These end users nowadays... The industry needed them to grow, but i remember better times, when computing was a thing you really needed to wrap your head around. No mouse, no touchscreens, -pads, whatever and 56k modem speed, at best  

EDIT: Wallobservers, i recognise ongoing reduction of bitcoin spam in my mailboxes. Not a good sign for 2019, i guess.

what do you mean with "bitcoin spam".
Not good if Bitcoin can be used for spams.

[JayJuanGee]

[edited out]

JJG, you are always out of subject. bots can't understand the meaning.

As if I anyone here is going to give much if any credence to your categorization of which posts are "in subject"....  

Get a grip, rebal15

a software: what ever you call it.

software is only one type of handling the (mathematical) algorithm in a convenient, automated way. So in fact "software" is only your name for it.
What it is, i bet you know: a blockchain with a simple, specific usecase. The chain (bitcoin) itself is just "output", coming from the algorithm (used by software).
"Software" is clearly incorrect. Looking at complex things the simple way doesn't make them simple at all.

Ok, thank you.
Can Bitcoin be considered as an input to an algorithm (used by software).

Only in the same sense as you yourself can be considered as a specific sequence of cytoseine, guanine, adenine, and thymine, as an input to ribosomes.

jbreher is making some decent senses.     

Thanks for that insight, picnic bear. 

[Amateur_]

EDIT: Wallobservers, i recognise ongoing reduction of bitcoin spam in my mailboxes. Not a good sign for 2019, i guess.

what do you mean with "bitcoin spam".
Not good if Bitcoin can be used for spams.

I think he's referring to the spam/scam emails, rebel.
Bitcoin is simply a method of transaction.

[rebal15]

EDIT: Wallobservers, i recognise ongoing reduction of bitcoin spam in my mailboxes. Not a good sign for 2019, i guess.

what do you mean with "bitcoin spam".
Not good if Bitcoin can be used for spams.

I think he's referring to the spam/scam emails, rebel.
Bitcoin is simply a method of transaction.

I know. It is a question of what he means. I want to know what he means.

[rebal15]

[edited out]

JJG, you are always out of subject. bots can't understand the meaning.

As if I anyone here is going to give much if any credence to your categorization of which posts are "in subject"....  

Get a grip, rebal15

a software: what ever you call it.

software is only one type of handling the (mathematical) algorithm in a convenient, automated way. So in fact "software" is only your name for it.
What it is, i bet you know: a blockchain with a simple, specific usecase. The chain (bitcoin) itself is just "output", coming from the algorithm (used by software).
"Software" is clearly incorrect. Looking at complex things the simple way doesn't make them simple at all.

Ok, thank you.
Can Bitcoin be considered as an input to an algorithm (used by software).

Only in the same sense as you yourself can be considered as a specific sequence of cytoseine, guanine, adenine, and thymine, as an input to ribosomes.

jbreher is making some decent senses.     

Thanks for that insight, picnic bear. 

Good night JJG if you are going to sleep.

[Amateur_]

EDIT: Wallobservers, i recognise ongoing reduction of bitcoin spam in my mailboxes. Not a good sign for 2019, i guess.

what do you mean with "bitcoin spam".
Not good if Bitcoin can be used for spams.

I think he's referring to the spam/scam emails, rebel.
Bitcoin is simply a method of transaction.

I know. It is a question of what he means. I want to know what he means.

I'm not really sure what you're expecting;
are you familiar with basic spam/scam emails?

[El duderino_]

This is my 10,000th post, I have had a blast spending so much time with all of you fuckers. This one is for all of you guys and to 10,000 more post to come and hopefully a majority in this thread! The price right now is back and forth around $10k and hopefully by the time it is 20,000 post the price jumps to more than $20,000. (It was $50 when the first post started)

I’m out of sMerit & my source bank is empty. I owe you +1 for this post though. Great to have you here as always. Congrats on hitting 10k brother.

Got it covered

Good night into Amsterdam HODLsleep and catch up tomorrow