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

[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. 

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[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).

[JayJuanGee]

[edited out]

Stop being such a defensive drama queen. It's one view. You're at liberty to dismiss it without throwing hissy fits and asking for "bets".

You are easily distracted, no?  Perhaps purposefully? 

If you believe that I am acting defensive, a drama queen or throwing a hissy fit, you have a lot to learn about the world and making attempts at substantive postings.

You are the ONLY one in this particular thread of a conversation who seems to be engaging in exaggerating behaviors that you are unwilling to stand behind in any kind of meaningful way, beyond making mere absolutism pronouncements of your supposed insight, when largely you are showing an ongoing pattern of behavior in which you are wrong a lot, and largely in the exaggerated bearish direction, but you never live up to your ongoing bullshit and exaggerated wrongness, and hopefully not too many people have been deceived by your largely FUD spreading posts (that your ongoing behavior shows that you will not even stand behind, when push comes to shove).

[JayJuanGee]

I had a job interview this week and a long part of the interview was spent talking about Bitcoin. Somehow we ended up on the topic and he just kept firing questions. There definitely is a huge thirst for knowledge for BTC

Job related to bitcoin or some  related field or the guy was just interested on a personal side-tangent level?

Unfortunately not Bitcoin related. I have been searching for such jobs but no luck so far.
The guy is the CEO of an online marketing agency and he got a bit too excited on topic, the female interviewer was getting a bit annoyed with the off-topicness.

Hahahahahaha

Sounds great!!!!!!  Hopefully, you did not go too far astray?  Sometimes it is difficult to make sure that you are sufficiently balanced in terms of making sure that you make decent impressions in a job interview, and sometimes it can be a bit unclear regarding the extent to which your actual interview discussion points might affect decision making regarding either hiring you or the terms to offer in the event of a decision to make a hiring offer.

[JayJuanGee]

@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

I thought that McAfee was under some kind of govt. detention?

[HairyMaclairy]

Well, I don’t know if you referred clown also to Plan B, but he’s actually truth to model how supply and demand impact bitcoin price.

You can model Bitcoin supply and demand all day long, with mathematical predicative models, stats, etc.

But behind the "demand" component of S & D, there are real fucking people. Not just 'the mysterious ether out there'.

Demand is driven by the emotion of people en masse opening actual accounts and buying Bitcoin with their fiat. Not by magical levitation. So I say again, where is this magically spurned emotion of epic buying going to be coming from to move the price to $1M by 2020?

McAfee doesn't say jack shit about that, and neither do the other talking head idiots. They are just pissing in the wind.

Yes I am still a long term bull, but come on.

I think $1 million is silly in 2020. But you are only talking about demand, which is one side of the equation.

Supply is the other side.  And if the market becomes illiquid due to withdrawal of supply, then the price can spike hard on low volume.  This is the essence of a short squeeze.  

If one morning, hodlers and miners wake up and suddenly decide that Bitcoin is worth $1 million, then they won’t sell below that point and the market dries up.  We then get a short squeeze of epic proportion and the long traders and momentum traders keep the thing going (after all they are making screaming fortunes) until we hit $1 million and supply returns.

How do you get a withdrawal of supply?  Halvening helps the supply reduction. But really once you get an insane bull market on, supply dries up because no one wants to sell when the price is doubling every week. 

[HairyMaclairy]

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

You forgot: American man pedophile!