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

[jojo69]

Let's start with this problem first:

"Why would I go through all the hassle and fees to buy Bitcoin so I can buy stuff with it (and then have to report the transaction to the IRS), when I can just use my bank account fiat and not endure any of that aggravation?"

The "store of value" proposition obtains here.

There is currently no need to "buy stuff" given the evaporating value of fiat holdings.

[hv_]

Nobody here or in the world - outside of BSV brainlets such as yourself - gives a shit about your farcical Faketoshi crap. Wake me up when BSV flips BCH in market cap.

There exists a problem: Microsoft is enforcing geofencing on the repository undergirding the world's most prominent FOSS VCS.

There exists a solution under development: An eventual git-workalike whose repository is built upon a decentralized, permissionless blockchain.

And all you can see is: Aussie man bad!

SMH

Regardless, its a bit intellectually dishonest to pretend BSV would be anything without Wright.

I disagree. Surprise.

Gee, And I thought the topic of discussion was Microsoft's closing down access to github, and potential solutions thereupon.

We've been through this a dozen times already -- its market cap subsists tremendously on the farce that Wright is Satoshi.

I acknowledge that a large input to BSV's market cap is likely the question of the Satoshiness of CSW. However, given the endemic presence of Craig Derangement Syndrome (e.g., the topic of discussion vs. your imperative to making the potential solution a referendum on CSW), it is rather unclear as to whether CSW's association with SV is price-positive, or price-negative.

You're acting like there's not already a hundred coins out there with some at least slightly innovating new tech that are trying to solve certain problems -- there are, and nobody gives a shit about them

Funny that. It's not about new tech trying to solve certain problems. It is about established tech that has already solved the problem of permissionless non-inflationary money. And the ONLY chain that is progressing back to that original design.

++

[Torque]

Let's start with this problem first:

"Why would I go through all the hassle and fees to buy Bitcoin so I can buy stuff with it (and then have to report the transaction to the IRS), when I can just use my bank account fiat and not endure any of that aggravation?"

The "store of value" proposition obtains here.

There is currently no need to "buy stuff" given the evaporating value of fiat holdings.

Agreed.

So potentially if millions of people all over the world buy Bitcoin infrequently (as a store of value), and hold for long periods of time, years or even decades, then the whole "transaction throughput problem" is overblown and over-hyped, is it not?

Since they won't be doing daily transactions with it?

Just like PMs. Nobody buys a silver coin just to turn around and try to buy a hamburger with it.

[JayJuanGee]

Purhaps this is a double bottom signaling a possible trend reversal?

This is negative action, a while back it lost the positive trend.   Its been doing well to go sideways but its failed a few times to go up.   It looks negative to me and I think the potential is greater downwards then upwards, truth is nobody can tell you absolutely and in any case the trend varies by the time frame you view it from.   Short to medium term I'd call it negative I think

This is some double top, basically just short term but speculators watch that


This is longer term and matters more, I could be wrong but the simplest approach is to count the highest peaks and call if they go up or down each time, same for lowest prices each day or week.  Its in a descent I think hence thats the likely larger trend till broken I assume.

Ugh - not so pretty.
 
I was getting really attached to 5-figure prices in bitcoin, after being down for so long.
Now I just have to focus on how much better it is over my $25-$40 cost basis and be grateful for what I have.

We got this far, so we can hold on another 2-5 years to see weather things improve.

I've realized through the years that very few people can be patient through these wild seemingly random gyrations.
and patience for those few that have enough of it will likely be richly rewarded.

If what you say is true about your costs being in the double digits, then it is going to be way easier for someone like you to NOT be phased whatsoever by the ups and downs, even if we have an 80% price correction from here.  In other words, you are part of a pretty small minority, if what you say is really true.  And another consideration, whether you are affected by such thinking or not, is whether you are still actively engaging in the market or are you in a strict HODLer disposition.  So, even if your cost basis is much below the current price, there still can be accumulating, maintenance or liquidation plans that can be employed that will consider strategies around BTC price movements.

needs moar lines

Exactly!!!!!!!  Frequently moar is equal to moar better, and btcbeliever's chart seems to be one of those kinds of situations.

[AlcoHoDL]

Good bye GitHub, welcome MetaNet and the power of BitCoin
https://codeonchain.network/

You can simply use the bsvpush command line tool to upload an entire folder by running: bsvpush push
https://github.com/jolonf/bsvpush

Nobody here or in the world - outside of BSV brainlets such as yourself - gives a shit about your farcical Faketoshi crap. Wake me up when BSV flips BCH in market cap.

There exists a problem: Microsoft is enforcing geofencing on the repository undergirding the world's most prominent FOSS VCS.

There exists a solution under development: An eventual git-workalike whose repository is built upon a decentralized, permissionless blockchain.

And all you can see is: Aussie man bad!

SMH

Ohhh... How I love this thread...

All those posts, that we are all making... Permanently stored in BitcoinTalk's servers...

It will be so satisfying when those posts are quoted in a few years' time! 

[JayJuanGee]

https://twitter.com/Rhythmtrader/status/1155220719833362432

I conclude that such moment is NOT important beyond mere symbolism.

We do likely realize that Bitcoin's supply is god-damed strict, and even though BTC supply is in a way early adoption stage that causes it to be able to sustain a much longer period of high supply inflation, nonetheless, the supply is getting cut more, even while adoption is going to suck up the existing supply and to continue to put ongoing pressures on it to go to a smaller and smaller unit size, probably sub-satoshi units are going to become important in the relatively near future, and good thing that lightning network is already experimenting with sub-satoshi unit sizes. 

[nutildah]

Actually the real answer all along was "absence of viable battery technology". But some of the conspiracy theorists (the idiot ones) had their heads in the sand over that issue. It was more fun and more policy-targeted to blame the oil/gas industry.

That's not exactly true.

1. By 1998 there were limited-range battery cars, up to 100 miles without the need for recharging, granted they weren't economically viable.

2. The oil industry actively engaged in campaigns against the building of charging stations by pretending to be acting on behalf of the general public. This is on record and can be proven by tracing donation paper trails.

Regardless, obviously the electric car wasn't killed whether you believe there was a conspiracy against it or not, and yes, technology helped it evolve.

Let's start with this problem first:

"Why would I go through all the hassle and fees to buy Bitcoin so I can buy stuff with it (and then have to report the transaction to the IRS), when I can just use my bank account fiat and not endure any of that aggravation?"

Use case scenario development should be everyone's primary concern. I use BTC 3-5 times a week to transition between multiple fiat currencies. I also use it to send money around the world and to buy phone data, which is essential when you don't have WiFi. For those truly concerned about what the IRS thinks, they are supposed to be issuing better guidelines within the next few weeks:

https://www.wsj.com/articles/lawmakers-push-for-new-bitcoin-rules-11562405401

[jojo69]

So potentially if millions of people all over the world buy Bitcoin infrequently (as a store of value), and hold for long periods of time, years or even decades, then the whole "transaction throughput problem" is overblown and over-hyped, is it not?

Since they won't be doing daily transactions with it?

Just like PMs. Nobody buys a silver coin just to turn around and try to buy a hamburger with it.

I think it remains to be seen if something on the order of 10 transactions/s will suffice at scale, I did say "may".

[jbreher]

All those posts, that we are all making... Permanently stored in BitcoinTalk's servers...

Maybe, maybe not. All at the whim of theymos. Not saying that's evil or anything, it is just a reality. Much like Facebook, all your post are belong to us.

If only there were a decentralized, permissionless, uncensorable, immutable repository upon which to host such a discussion....

[JayJuanGee]

citadeles, citadels...

Bond market is going into a black hole:
https://www.bloomberg.com/news/articles/2019-07-13/the-black-hole-engulfing-the-world-s-bond-markets-quicktake

What is the end game there?

Difficult to understand/comprehend Max Keizer commented on above by saying that stocks would be "finished" somehow and we would split into 2+98 with 2% living in "citadels":
https://youtu.be/u3ojPk8CQns?t=390

Plus,here is Walter Isaacson telling us that we are about to split into subspecies and it would be difficult to impossible to stop it:
https://airmail.news/issues/2019-7-27/should-the-rich-be-allowed-to-buy-the-best-genes

I feel that all this somehow connects to recent PR moves regarding bitcoin as in "not everyone should be able to get in".

Surely everyone can get into bitcoin, it is just a matter of how much they are able to acquire and at what price and how many of them are going to end up chasing the train, or rocket or whatever combination of vehicles we embark upon in our journey from here to there.

[rebal15]

@officialmcafee
Bitcoin is under pressure from the U.S. and its price reflects it. But the U.S. has no real power in controlling CryptoCurrency. Just watch. A week from today Bitcoin will continue its meteoric rise.

https://twitter.com/officialmcafee/status/1155211540846600192?s=21

People like John Mcafee will contribute to accelerate the banning process of cryptocurrencies by the govt.

[jbreher]

Gee, And I thought the topic of discussion was Microsoft's closing down access to github, and potential solutions thereupon.

Where is this goal part of the white paper, that Craig read, probably when he wrote it...

Quit being intentionally obtuse. This is where this branch of the thread originated:

https://bitcointalk.org/index.php?topic=178336.msg51977374#msg51977374

Incidentally, quite amusing how you love to fly that Craig Derangement Syndrome flag yet again. It's almost as if you don't have any other tools in your toolbox.

[Biodom]

citadeles, citadels...

Bond market is going into a black hole:
https://www.bloomberg.com/news/articles/2019-07-13/the-black-hole-engulfing-the-world-s-bond-markets-quicktake

What is the end game there?

Difficult to understand/comprehend Max Keizer commented on above by saying that stocks would be "finished" somehow and we would split into 2+98 with 2% living in "citadels":
https://youtu.be/u3ojPk8CQns?t=390

Plus,here is Walter Isaacson telling us that we are about to split into subspecies and it would be difficult to impossible to stop it:
https://airmail.news/issues/2019-7-27/should-the-rich-be-allowed-to-buy-the-best-genes

I feel that all this somehow connects to recent PR moves regarding bitcoin as in "not everyone should be able to get in".

Surely everyone can get into bitcoin, it is just a matter of how much they are able to acquire and at what price and how many of them are going to end up chasing the train, or rocket or whatever combination of vehicles we embark upon in our journey from here to there.

if you curse it enough, many would not want to until it is a too late, at least for appreciation, leaving more for those in the know (or those who have more money).

[JayJuanGee]

I purchased a small amount of bitcoin today.

Does this make me more qualified to speak on the subject?

What things, previously unavailable, can I now do with my newly acquired bitcoin?

No diptwat.   You are not more qualified merely because you made one bitcoin purchase and in part because you still seem to be trolling and confused.

You don't overcome dumb with merely one action.  There is a process that also takes time to play out and to demonstrate that learning has actually taken place.

Begin yourself a long term dollar cost averaging plan and come back to speak with us here in this thread in a couple of years.. that is if you might learn something during such projected time.  

Alternatively, if you are kind of learning and willing to interact with some level of genuineness rather than troll/shilling tendencies, then we can perhaps bat around some ideas here and there as you are learning about bitcoin and establishing a personalized approach, again assuming that you are willing to learn.

One of the problems with you has been that you are already predisposed to talk bullshit and misleading talking points, so it is going to take a decent amount of time before you are going to be able to absorb some sound and meaningful perspectives about the asset that you have made your first purchase, and that is assuming that you are learnable... hopefully... I have not lost hope with you, yet. .. but I am thinking that you are likely going to continue to challenge my ongoing attempts to give you some benefits of my doubts.

I purchased a small amount of bitcoin today.

Does this make me more qualified to speak on the subject?

What things, previously unavailable, can I now do with my newly acquired bitcoin?

You acquired what in US is considered property.
You can do retty much anything that you can do with a property: sell, lend, exchange, potentially get interest, etc.

Although you are technically correct that previously I was unable to sell, lend, exchange or earn interest on the bitcoin that I didn't yet own, I must admit, I don't see this as revolutionary.

EDIT: Why did you delete your post, biodom?

Again... showing your ongoing and willing diptwat status.  

Now, your new BTC discussion point is going to be that your purchase of some bitcoin did not cause you to change your perspective.  Could have figured that one  out, no?...

So, yeah, some of us might start to label you as a professional (in spite of your username), not an amateur, troll.... which is what?  a shill?  Definitions, definitions?

Go take some of that Bitcoin you just bought and buy a VPN service.  AIRVPN is a good place to start.  https://airvpn.org/

Now you can join whatever you like.

I'm not sure it's a good idea to encourage people to break either their local laws, or the website terms and conditions, especially considering the risk of financial loss.

Government agent spotted.  Is that you jbreher?  Or can you vouch for this fellow douche?    

  I hope you're not implying that government is unnecessary and wrong. Without modern civilization you wouldn't even be able to make that terrible argument on the internet. Do you know what hypocrisy is?

Ironic that you seem to not even know what government is, but then again, your likely purpose is not really to spread accurate, informative or empowering information, but instead circulate bullshit propaganda nonsense - must be a bank shill rather than a government shill, but who knows, some government shills don't really understand what is government, either.  Go figure.

[nutildah]

All those posts, that we are all making... Permanently stored in BitcoinTalk's servers...

Maybe, maybe not. All at the whim of theymos. Not saying that's evil or anything, it is just a reality. Much like Facebook, all your post are belong to us.

Not anything like Facebook. Outside of selling ads, theymos engages in no site monetization.

If only there were a decentralized, permissionless, uncensorable, immutable repository upon which to host such a discussion....

Just like Satoshi intended  

You don't think its the least bit ironic that SV was born out of the desire to be Bcashier than Bcash, and now is trying to sell itself on how much non-transaction related data it can fit into its blocks? Wright just exudes shit from every orifice, and you slurp up every brown morsel of it.

At no point have I said that Bitcoin is a cryptocurrency, a currency in any form, or anything monetary-wise other than digital electronic cash.

- Craig Wright, 2019

I have a cryptocurrency paper out soon.

- Craig Wright, editing a 2008 blog entry in 2015

Incidentally, quite amusing how you love to fly that Craig Derangement Syndrome flag yet again. It's almost as if you don't have any other tools in your toolbox.

I don't need anything else when you insist on taking a fraud's words at face value.

[mindrust]

Say whatever you want, I was a fan of Tesla for a while but after seeing people got toasted alive inside those cars I've changed my mind.

I don't want to sit on hundreds of Li-Ion batteries.

Also the car itself is like iphone.

I am pretty sure if Elon can remotely shut down your car. I believe the new Mercedes-Benz and BMW cars are not much different though. The selection of good cars are just becoming harder and harder.

[JayJuanGee]

Today was the day:
Self-made Legendary. Still,
Can't pay bills with it 

In another thread, I already have had a bit of a rant today about the topic of "self-made" and some seeming discounting of members who had validly and legitimately (in my view) ranked up in this forum under our pre-merit system.

[Torque]

So potentially if millions of people all over the world buy Bitcoin infrequently (as a store of value), and hold for long periods of time, years or even decades, then the whole "transaction throughput problem" is overblown and over-hyped, is it not?

Since they won't be doing daily transactions with it?

Just like PMs. Nobody buys a silver coin just to turn around and try to buy a hamburger with it.

I think it remains to be seen if something on the order of 10 transactions/s will suffice at scale, I did say "may".

The idiot BCH and BSV camp have the same problem with incentive. No one is going to buy either of those shitcoins just to use for daily transactions, because of the hassle of acquisition in the first place. Plus they have even less merchant support (almost non existent except for Bitcoin Judas' one Japanese coffee shop). Doesn't matter what theoretical future transaction throughput problem their blockchains purport to solve.

So the joke's on them, lol.

[LFC_Bitcoin]

@officialmcafee
Bitcoin is under pressure from the U.S. and its price reflects it. But the U.S. has no real power in controlling CryptoCurrency. Just watch. A week from today Bitcoin will continue its meteoric rise.

https://twitter.com/officialmcafee/status/1155211540846600192?s=21

People like John Mcafee will contribute to accelerate the banning process of cryptocurrencies by the govt.

You can’t ban the use of bitcoin, it’s impossible. You can place restrictions & sanctions but there are ways.
Unless they want to ban the internet for everybody which won’t happen.

[serveria.com]

Say whatever you want, I was a fan of Tesla for a while but after seeing people got toasted alive inside those cars I've changed my mind.

I don't want to sit on hundreds of Li-Ion batteries.

Also the car itself is like iphone.

I am pretty sure if Elon can remotely shut down your car. I believe the new Mercedes-Benz and BMW cars are not much different though. The selection of good cars are just becoming harder and harder.

I'm not looking into the direction of electric cars until they are able to offer at least 350-500 mile range (probably in 2020ties or so).