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

[Arriemoller]

So people are putting money *into* bitcoin (g)old?

Jesus, I probably still have some of that shit in old wallets. I wonder if you can just load the seed codes into a BTG browser, and get the crap to an exchange for BTC like I did with that bitcoin trash....

Download the coinomi app and get them in that app, then use the built in exchange to get bitcoin, that's what I did.

https://www.coinomi.com/en/

https://medium.com/@coinomi/collecting-your-free-bitcoin-gold-btg-coins-da937d4255d1

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[OutOfMemory]

[Lots of stuff, as usual]

All very nice stuff. Completely fails to address the arguments I made (which are not for altcoins or big blocks or anything like that, merely that if you restrict capacity, the thing complained about is merely an expected outcome), of course so I'm not going to bother addressing most of it. The idea that "We had the discussion about the tire being flat yesterday and I didn't do anything about it" in any way stops the tire from being flat today and still needing to be fixed is asinine.

However, if you continue to refuse to countenance discussion of factors which might be influencing price or adoption, I heartily recommend this link



I will, myself, continue to listen to many voices including those with whom I am not in agreement. Echo chambers are such a bore.

You are missing the point, we don't care if the tire is flat or not, we don't discuss tires at all in this thread. Doing so just makes people irritated.
If you want to discuss tires, for whatever reason, do so in other threads and leave this thread tire free.
Is that so hard to understand?

For some, a batslap is probably easier to understand 

[friends1980]

We all know the rules of the game and rule # 1

"Don't invest more than you can afford to lose."

If HODLING is the strategy then selling and buy are the tactics.

Here's my post warning people about "Don't invest more than you can afford to lose" when the price was $325.

https://bitcointalk.org/index.php?topic=843822.0

How many times do I have to repeat this:

always invest what you can afford to lose.

It's starting to look like a hype:

the point is you must invest what you can afford to lose mate
(...)

[Phil_S]

https://twitter.com/100trillionUSD/status/1379770685401268229?s=20

I added "2x per year" trend lines to his chart...



It looks like his 200-weeks graph follows that "100% a year" trend quite nicely.

It's just too many people started talking about "200% a year" lately, even Saylor, which is annoying.

[shahzadafzal]

"Bitcoin is a ‘Chinese financial weapon’ that threatens the US dollar – billionaire Peter Thiel"

Well he isn't wrong though just need little correction here...

"Bitcoin is a ‘Chinese financial weapon’ that threatens the US dollar , Euro, GBP, AUD, CAD, CNY and etc ".... now it's correct.


https://www.rt.com/business/520434-china-bitcoin-financial-weapon-us/

[AlcoHoDL]

[ Original Chart ]

https://twitter.com/100trillionUSD/status/1379770685401268229?s=20

I added "2x per year" trend lines to his chart...



It looks like his 200-weeks graph follows that "100% a year" trend quite nicely.

It's just too many people started talking about "200% a year" lately, even Saylor, which is annoying.

Saylor may be talking about instantaneous price value, not averages, or we don't know his averaging parameters, or he may be excluding certain events as outliers. It's all a matter of interpretation, averaging horizon, etc.

Some predictions talk about $400k/BTC by the end of 2021, so that's a 1200% gain for 2021 (assuming $30k/BTC at the start of 2021)... Wild, sure, but does King Daddy care?

Personally, I consider a "stable" price of $100k/BTC by the end of 2021 to be a realistic, healthy, and pretty damn good scenario. That's a 230% gain for 2021, which pretty much agrees with Saylor's Crystal Ball^TM. By "stable", I mean safely above $100k, say, $120k-$130k, with the usual volatility and ant-pump/dumpenings.

These are all SOMA guesses of course, as I believe SOMA guesses to be the best price predictors. No math or science involved—I leave that to our resident expert, the singing llama.

Edit: I calculate % gain as 100 x [V(t) - V(t-1)] / V(t-1), i.e., a 2x gain is a 100% gain.

[Dabs]

It has just proven that a chain fork is not the solution. That doesn't mean the problem isn't still there.

Maybe. Perhaps. The alternatives already exist out there, I wonder why they won't use it. You have BCH with 128mb blocks? (effectively no maximum), and BSV with gigabyte blocks. They can be used. As are all the other altcoins that also forked off, such as DASH which has I think 2mb blocks.

So many altcoins out there have larger than 1mb blocks or shorter than 10 minute average confirmation times. You just said you have Litecoin, so even with 1mb, it still has 2.5 minute block times.

The problem is, people don't want to use those. It's already working on those other coins.

[BitcoinBunny]

"Bitcoin is a ‘Chinese financial weapon’ that threatens the US dollar – billionaire Peter Thiel"

Well he isn't wrong though just need little correction here...

"Bitcoin is a ‘Chinese financial weapon’ that threatens the US dollar , Euro, GBP, AUD, CAD, CNY and etc ".... now it's correct.


https://www.rt.com/business/520434-china-bitcoin-financial-weapon-us/

Personally I don't think the US dollar is going away any time soon and I agree with several crypto YouTubers who have pointed out that it's mostly other currencies that are falling on their asses far sooner, especially when compared to the US Dollar and of course BTC (see Argentine Peso, Venezuelan Bolivar and even the UK Pound).

Having said that there is nothing stopping the USA from adopting crypto sooner or to get more of it. They easily have the means. Long term I think it would be a good idea.

Peter Thiel has the political influence to partially steer this.

The problem is there are far too many political figures only thinking short term.

Short term it seemed like a good idea to move almost all manufacturing to China.

Long term it is a disaster obviously.

The same indeed could happen with currencies.

Like with anything in life if you don't make a decision, the decision will be made for you eventually.

Joe Biden is far too busy to pretend to be nice to Mexicans and wearing 10 masks than to consider adopting crypto sooner to be of any importance.
Heck politicians in the USA literally wasted 5 years moaning about Donald Trump.

Perhaps the country deserves to be at the back of the queue eventually with crypto due to their own sheer stupidity.

[Dabs]

I liked Trump, but that's politics and theater and "entertainment"... He did shake up the government. (I'm not murican, so .. but I still liked him.)

[cAPSLOCK]

"Bitcoin is a ‘Chinese financial weapon’ that threatens the US dollar – billionaire Peter Thiel"

Well he isn't wrong though just need little correction here...

"Bitcoin is a ‘Chinese financial weapon’ that threatens the US dollar , Euro, GBP, AUD, CAD, CNY and etc ".... now it's correct.


https://www.rt.com/business/520434-china-bitcoin-financial-weapon-us/

A problem with being much smarter than others is you can operate more levels deep than the rest.  I think he was clearly saying that bitcoin, like gold, or the euro can be used by China to try to displace the dollar.

A combination of 1 level thinking along with the bias against a worldview that can ACCEPT bitcoin is making the news outlets report it in this anti-bitcoin fashion.

I think Thiel's IMPLICATION is China is getting out ahead of the west on it, and therefore can begin to take advantage of it to help dethrone the dollar.  The obvious solution is not "OUTLAW BITCOIN" unless you just want to speed that process up.  It is "GET IN THE GAME ASAP".

If I am right, then Thiel should have thought to be more clear in that regard. 

[Richy_T]

Some of the shitcoins, even the bcash ones that you seem to like may well end up still serving some kind of purpose because they still function but they may well be relying on the security that is provided by the bitcoin .. the king daddy.. You even stated that you used litecoin for some transaction, and sure those shitty and not very used coins could still be used to transact value.. but they would not be alive at all if it were not for the security blanket provided to the whole space by king daddy... so yeah, let's say that you have $100k... and $95k might be held in bitcoin and maybe $4k to $5k would be in various other services such as lightning.. but then maybe you might use some shitcoin such as litecoin or one of the bcashes to the extent that they might continue to exist rather than scamming themselves out of even functioning.. so yeah, you could use those lighter trafficked coins for some transactions to buy coffee or buy that $5 to $1,000 good or service that you are aiming to buy but not wanting to pay $20 to $100 in BTC transaction fees..   but if you need to move your $95k, you might not mind paying $20 to $100 in fees to do that.

So what I appear to be reading here is that you agree that there are implications from the capacity limitations of Bitcoin that encourage ownership and usage of alts and that make Bitcoin less useful as a currency. So I don't see what the issue is.

[cAPSLOCK]

I liked Trump, but that's politics and theater and "entertainment"... He did shake up the government. (I'm not murican, so .. but I still liked him.)

I know it's OT, but I always enjoy non US folks seeing him in a balanced light.  He was lots of theater and entertainment, for sure.  It is frustrating living here in this polarized hellscape with a broken and manipulative media force feeding a single narrative into the culture 24/7.  I think he was terribly misunderstood.  And it was mostly his own fault.  But I really believe he was an outsider, and I think TPTB made sure to FIX that this time around.  I was not fond of him in many ways and are somewhat glad he's faded into the background, lol, but I wish he had more chance to "shake up the government".  I certainly liked that part, though it has destabilized the whole world somewhat.  It also pulled the masks off just about ALL the institutions.  No one sees the media, the FBI/CIA/NSA, the government, the tech giants etc. the same way, and that is a net good.

Oh well...

[Richy_T]

You are missing the point, we don't care if the tire is flat or not, we don't discuss tires at all in this thread. Doing so just makes people irritated.
If you want to discuss tires, for whatever reason, do so in other threads and leave this thread tire free.
Is that so hard to understand?

If you do that when it's directly relevant to the discussion at hand, that's called being in denial. It's not a healthy way to approach the world in general but certainly not finance.

Personally I find these meta discussions much more annoying so I'm going to try and make this my last post on the subject today. Again, I suggest that those that can't deal with opinions different from their own use the ignore button or just learn to do what I do and roll their eyes and move on.  

(OK, going to sneak this bit in).

Maybe. Perhaps. The alternatives already exist out there, I wonder why they won't use it. You have BCH with 128mb blocks? (effectively no maximum), and BSV with gigabyte blocks. They can be used. As are all the other altcoins that also forked off, such as DASH which has I think 2mb blocks.

This whole discussion was initiated by someone asking why Bitcoin was losing marketshare so indeed, the point was that people are using them. We don't appear to be disagreeing on the details, just the framing.

[Arriemoller]

You are missing the point, we don't care if the tire is flat or not, we don't discuss tires at all in this thread. Doing so just makes people irritated.
If you want to discuss tires, for whatever reason, do so in other threads and leave this thread tire free.
Is that so hard to understand?

If you do that when it's directly relevant to the discussion at hand, that's called being in denial. It's not a healthy way to approach the world in general but certainly not finance.

No, we try to not have that kind of discussions, it's not denial, it's just keeping this thread free from shitcoin talk.
If you must talk about them there are literally dozens of other threads, keep this one clean.

[Arriemoller]

Nice little upwards action there.

[Richy_T]

No, we try to not have that kind of discussions, it's not denial, it's just keeping this thread free from shitcoin talk.
If you must talk about them there are literally dozens of other threads, keep this one clean.

OK, now I have to reply to this accusation. I wasn't talking about shitcoins. Pay attention. Someone asked why Bitcoin was losing market dominance and I suggested it was capacity issues with Bitcoin. It's everyone else who jumps on with suggestions of using shitcoins for some reason.

[cAPSLOCK]

Little... but still good!

[Kylapoiss]

Just got notification from my exchange that they'd received a $1500 deposit ready to spend. I was like uhhhh..... turns out it was my wife, she just called telling me to buy some more BTC. Guess she's a keeper?

My gf took out her pension fund and "ordered" me to invest it into btc. Guess I'll have to put a ring on her soon enough.

[DeathAngel]

Endless warfare with the 55000 USD to 59000 USD range. Honeybadger is going to tear faces off soon, maybe COIN debut trading day will bring the volume for BTC next week.

[rolling]

You are missing the point, we don't care if the tire is flat or not, we don't discuss tires at all in this thread. Doing so just makes people irritated.
If you want to discuss tires, for whatever reason, do so in other threads and leave this thread tire free.
Is that so hard to understand?

If you do that when it's directly relevant to the discussion at hand, that's called being in denial. It's not a healthy way to approach the world in general but certainly not finance.

There is no denial. The issue has been resolved. We had a fork. Big blockers went to their own fork.

The market has decided how much that fork is worth compared to bitcoin. Arguing that the market is wrong is psychotic.

What you see as needing fixed, is a feature critical to the current value and use case for BTC. That case is a store of value, not a transactional currency. You might have a good argument that the fork is a better transactional currency and you can see what the price of such a currency is worth.

The fact is, credit/debit cards, bank accounts, bank apps, etc, work just fine for transactions. The market has decided the store of value use case is what is worth $57k+. This use case benefits from people holding on to the coin and not transacting it unless they really need to. This use case will eventually lead to corporations and governments making transactions in the billions or trillions of dollars each. The whole world will benefit from the instant settlement of these large transactions.

Clogging or inflating the system with low value transactions hurts the possibility of this future. The block size limit is exactly what controls for and eliminates the low value transactions and you are advocating for getting rid of it!

You are advocating for destroying bitcoin, that's why your commentary is not welcomed. This isn't an echo chamber, it's just a place where the people who understand the above choose to hang out. You are constantly discussing this topic when nobody else even mentioned it. You are the only one bringing it up.

Stop trying to undermine what we've built here and people will stop telling you to get lost.