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

[mindrust]

The only bankster I trust is myself because I am my own bank. 

[becoin]

Or maybe no one will EVER understand what the fuck bitcoin actually is.

Right, like that's really a private key underneath that scratcher?  Pretty fucking lazy scam if you ask me.

I don't think that they are complete morons.
There must be an explanation that makes it something that can work, at least theoretically.

Upon further check, there is a procedure, not sure how well it would work.
First, passphrase is printed, then covered, then encrypted key unlocked by the passphrase is randomly generated at the second location.
They claim that after wallet's private key (encrypted) is printed on the wallet, the data is destroyed (at their end).

TL;DR they generate the passphrase and an encrypted private key in two different geographic locations, then apply both (together or in sequence?) to the wallet printout/etching.

This is not new and it is not done the way it should be done!

There is a secure cryptographic procedure to turn YOUR Passphrase into an Intermediate Code and give this Code to the manufacturer. This was first offered by Mike Caldwell (Casascius) in 2012 and applied in the last series of his casascius coins.

https://bitcointalk.org/index.php?topic=129552
https://casascius.wordpress.com/2013/01/26/bitcoin-address-utility/

But then, what Bobby Lee is suggesting is NOT the same because HIS Team1 is generating the passphrase for the intermediate code to be used by HIS Team2.

 

[Globb0]

https://www.digitaltrends.com/cool-tech/cerebras-ai-chip-the-size-of-an-ipad/

That chip size excites me.

[mindrust]

Bitcoin, what is it? Why you should buy NOW!?

If you don't know who this is, he is a pretty famous early adopter. He has many precious metal videos before he knew about bitcoin too. He was literally screaming at everybody to get in when it was pennies. Warned people before the Mt. Gox collapse.

Now he gives the buy signal by simply saying...

BUY

From the video:

Put 0.1% of your wealth in Bitcoin. If I am right, that 0.1% will cover all the losses from your other assets.

Pretty hardcore shit.

[fillippone]

Bank's views on bitcoin:

2010: laughs
2011: laughs
2012: laughs
2013: laughs
2014: laughs
2015: laughs
2016: laughs
2017: laughs
2018: laughs
2019: PBOC, Fed, ECB, BoE, and the IFM announce the support/development/launch of digital currencies.

That escalated quickly.

https://twitter.com/Rhythmtrader/status/1172528846094176256

Banks are the hyenas of the economy, they are hypocrites, scammers and greedy, never trust a banker, even if it's from your family.
Apart from the banks too many people laugh at Bitcoin but very soon they will cry.

Yeah,
Not only CB’s are developing their crypto/digital version  of their own shitcoin (whatever that mean, as today shitcoins weren’t digital enough), but they are actually U-turning from declarations on the Past: I saw a good they, so I am using his words:

They're so scared that are backpedaling on their previous declarations like "central bank digital Euro is not to be expected any time soon" (May 2017)

 France, Germany blast Facebook's Libra, back public cryptocurrency

https://twitter.com/ferdinando1970/status/1172602320686919681


From the same twitter Thread

July 2014: @EBA_News invited financial institutions not to buy, hold, or sell virtual currencies [sic] that did not develop a reliable governance process. 5 years later: @Libra_ proposes an accountable reliable governance process to regulators and the answer is "you cannot do it"

They are definitely panicking.

[VB1001]

Coinbase gradually increased its market share from 24 percent to 32 percent during this period, taking share primarily from Bitfinex which fell from 25 percent to 19 percent. Bitfinex’s reduction in market share is understandable given its longstanding issues with timely withdrawals and a heightened regulatory environment. As more exchanges limit access to U.S.-based traders, we expect more trading activity to concentrate on Coinbase, the primary Bitcoin-U.S. Dollar market.

Bitcoin-Tether markets show a similar level of concentration with trading activity heavily concentrated on Binance and Huobi. LBank, HitBTC, and ZB.COM also have moderate levels of reported volume, although Coin Metrics’ internal scoring framework indicates that these exchanges are likely to report a higher fraction of fake volume. In total, these five exchanges consist of roughly 95 percent of reported traded volume. Volume in Bitcoin-Tether markets are greater than Bitcoin-U.S. Dollar markets – Binance’s peak average volume is roughly twice the magnitude of Coinbase’s peak average volume.

https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-96e

Too much concentrated volume, "Not your keys, not your BTCitcoin"

[realr0ach]

You can't mine just 1 bitcoin for $6k. You could try. Otherwise, the price is indeed determined solely by traders. Some miners are also traders. Some miners are not.

Of course you can mine "just 1 bitcoin".  It's called 'pool mining'.  Why are you trying to trick people into believing the price of Bitcoin can go to infinity without mining massively expanding along with the price?  The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead.  And mining is already too huge to increase by an order of magnitude or higher to buffer prices that elevated or it would use more power than the entire United States.  People claiming the price can go to $100k after halving are retard scammers.

[serveria.com]

Ballet - The World’s First Multicurrency, Non-electronic Hardware Wallet.

Complete with scratch off private key.  Erm lol thanks Bobby Lee. 




https://www.kickstarter.com/projects/balletcrypto/ballet-cryptocurrency-hardware-wallet

what the actual fuck??

not your keys folks...jesus

You can't even prove that somebody else stole the coins. They'll accuse you instead and there is nothing you can do about it. This is perfect for selective scamming. Scam every 10.000th person and nobody will give a fuck about him.

It's actually enough to scam just ONE person with enough coins. Who's going to believe your story? 

[realr0ach]

Another day of shitcoin scammer Micgoossen's lies and dipshittery.  Here's what's actually occurring in that picture.  First of all, "shells" aren't money - they do not have the qualifying traits, and they were never ubiquitously used as such either, so it's stupid to even include them in the chart.  They're not fungible, they're not durable, etc, etc.  The instances of people attempting to use things like rice as money were probably ENORMOUSLY higher than anyone ever using 'shells', but shitcoin scammer idiots like Nick Szabo INSIST on using 'shells' as an example to make it SEEM like anything can qualify as money when it's not the case.

Out of your personal example of "shells", gold, and gold coins, all three are used as both a transactional unit (currency) and a settlement system (money) at the same time.  In the case of the latter three: notes, bank accounts, and Bitcoin, those are all solely transactional units (currency) and NOT settlement systems (money).  It's a complete apples vs oranges comparison.  No form of settlement has EVER taken place in all of history without a real world object being exchanged because digital 1's and 0's are completely useless to humans.  A real world object must be transferred at some point for settlement to occur.

[becoin]

The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead.

Of course, it CAN!
The price of a $100 bill is $100 while production cost is just 17 cents!

[realr0ach]

The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead.

Of course, it CAN!
The price of a $100 bill is $100 while production cost is just 17 cents!

That's called seigniorage fee, which is a TAX.  It's a TAX forced on you by the barrel of a gun.  Nobody can force anyone to use Bitcoin to extract seigniorage fee because 'Bitcoin' has no fucking military or nuclear weapons. Unless you're claiming the US govt created Bitcoin and will attempt to make you use it by force.  Even if that was the case, nobody gives a flying shit about ANYTHING govt says now.  

The only way the price of Bitcoin can be $100k while only having a $6k cost of production is if mining is a completely centralized monopoly, which you tards are hesitant to admit that's what your banking on because it would mean Bitcoin is a complete scam of zero value.  And good job VB1001 for meritting becoin's idiotic answer.  Typical shitcoin scammer lies and buffoonery on display 24/7 in this thread.

[becoin]

The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead.

Of course, it CAN!
The price of a $100 bill is $100 while production cost is just 17 cents!

That's called seigniorage fee, which is a TAX.  It's a TAX forced on you by the barrel of a gun.  Nobody can force anyone to use Bitcoin to extract seigniorage fee because 'Bitcoin' has no fucking military or nuclear weapons.  Unless you're claiming the US govt created Bitcoin and will attempt to make you use it by force.  Even if that was the case, nobody gives a flying shit about ANYTHING govt says now.

Nobody can force anyone to use Bitcoin to extract seigniorage fee. People are doing it voluntarily because fucking military or nuclear weapons are useless against Bitcoin!

[realr0ach]

Like I said before:

The only way the price of Bitcoin can be $100k while only having a $6k cost of production is if mining is a completely centralized monopoly, which you tards are hesitant to admit that's what your banking on because it would mean Bitcoin is a complete scam of zero value.

So fucking tired of you jackass scammers.

[mindrust]

The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead.

Of course, it CAN!
The price of a $100 bill is $100 while production cost is just 17 cents!

He has a point. I normally don't respond to roach posts but since you quoted him... and I see he has a point... I'll explain.

$100k is not where bitcoin will be stable.

It will go to $100k from $3k, just like it went to $20k from $300. How many days did bitcoin stay at $20k? 1? 2?

$100k will be similar. (I keep saying $100k but maybe it will be $80k. Nobody knows) Only a handful of people will he able to sell from the new ATH. Most will be paralyzed while looking at their monitors. Some will expect it to go higher, some will sell below the ATH. Some will sell a lot there and curse themselves for not holding longer. Some will sell so little at the ATH and curse themselves for not selling more after the bubble pops. Some will just hodl through (that's me)

We all think we'll do the right thing this time but it keeps happening over and over again and we still fail. (I do at least, not completely thanks to my DCA strategy)

How many of you went all in when it was 3.1k-4k range? It happened just months ago.

Find yourself a strategy similar to JJG's and you won't be missing much. I am pretty sure you'll get more profits if plan yourself a selling strategy just like when you were buying.

Tldr; it may go to $100k but if $100k will be where it tops, it won't stay there. Most likely to go back to somehwere between 25-40k later on.

[mindrust]

Another thing, why do you think the network fees went nuts while the ATH was happening in 2017?

People were literally outbidding each other by paying more fees to send their coins faster to the exchanges so they could dump!

[realr0ach]

He has a point. I normally don't respond to roach posts but since you quoted him... and I see he has a point... I'll explain.

$100k is not where bitcoin will be stable.

It will go to $100k from $3k, just like it went to $20k from $300. How many days did bitcoin stay at $20k? 1? 2?

LOL.  It's called a Bitfinex criminal fraud pump and dump scam using Tethers and cooking the books Enron accounting.  You're trying to pretend Bitcoin just magically went to $20k in a natural manner when everyone and their mom knows that is not the case.  Now you're claiming it's inevitable another giant, Bitfinex Tether fraud occurs to send it to $100k.  

I'll tell you, it's simply fucking amazing Giancarlo and the rest of these scammer fags at Bitfinex that literally steal customer deposits are not in prison yet, so hell if I know, maybe Bitfinex fraud is a front for the govt manipulating the price upwards because they want you to use cashless society slavery system tokens where you cattle are tracked and monitored in real-time instead of using physical metals.  That's the only explanation I have for why nobody at Bitfinex is in jail.

[becoin]

Another thing, why do you think the network fees went nuts while the ATH was happening in 2017?

People were literally outbidding each other by paying more fees to send their coins faster to the exchanges so they could dump!

People were outbidding each other just to make ANY bitcoin transaction. The reason for high fees in 2017 were BCH crooks trying to clog bitcoin network and promote their point by sending hundreds of spam transactions to be included in every block. There are no spam transactions now because those same crooks need every bitcoin they mine now to support the price of Bitmain's corporate coin (aka Bcash).

[mindrust]

Another thing, why do you think the network fees went nuts while the ATH was happening in 2017?

People were literally outbidding each other by paying more fees to send their coins faster to the exchanges so they could dump!

People were outbidding each other just to make ANY bitcoin transaction. The reason for high fees in 2017 were BCH crooks trying to clog bitcoin network and promote their point by sending hundreds of spam transactions to be included in every block. There are no spam transactions now because those same crooks need every bitcoin they mine now to support the price of Bitmain's corporate coin (aka Bcash).

I don't deny that but I can't really say it was %100 Bitmain/Vermin Co. Still can't be sure though. Maybe they were %100... but then... why don't they do it now? Or why they didn't do it before the ATH? Maybe they wanted to combine their spam with the real demand to increase the effects. I still believe there were some real hardcore demand in 2017 for the on-chain transactions.

[Negotiation]

Give it some time and you'll learn who's a cunt and who's not. Read your local board on bitcointalk, but don't trust them till you're sure.
Despite being Italian, fillippone is not a total cunt. Read his beginner's guide. No short cuts, read it all
these 3 are honest social media types
https://twitter.com/lopp
https://twitter.com/brian_trollz
https://twitter.com/MrHodl
they have enough knowledge and acumen to keep newbies going for a long time.

Thanks @Last of the V8s carefully read and follow everything all over help for learn.

[becoin]

Another thing, why do you think the network fees went nuts while the ATH was happening in 2017?

People were literally outbidding each other by paying more fees to send their coins faster to the exchanges so they could dump!

People were outbidding each other just to make ANY bitcoin transaction. The reason for high fees in 2017 were BCH crooks trying to clog bitcoin network and promote their point by sending hundreds of spam transactions to be included in every block. There are no spam transactions now because those same crooks need every bitcoin they mine now to support the price of Bitmain's corporate coin (aka Bcash).

I don't deny that but I can't really say it was %100 Bitmain/Vermin Co. Still can't be sure though. Maybe they were %100... but then... why don't they do it now? Or why they didn't do it before the ATH? Maybe they wanted to combine their spam with the real demand to increase the effects. I still believe there were some real hardcore demand in 2017 for the on-chain transactions.

I have already explained why.
Another reason is to not induce accelerated development of the Lightning Network which actually is the Bitcoin killer app.