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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26366776 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
AlcoHoDL
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September 15, 2021, 10:11:18 PM
Merited by JayJuanGee (3), OutOfMemory (1)

I have my doubts about if AlcoHoDL would be presenting the pyramid scheme as an educative framework to explain bitcoin, unless he were merely striving to contrast bitcoin with such scheme in some kind of way.

Perhaps AlcoHoDL could chime in on this point in terms of whether he would use a pyramid scheme framework to explain bitcoin, merely as a contrast or in some other way.. As I already mentioned, seems distracting and misleading in terms of costs versus benefits in using it rather than helpful from my point of view.

I think OOM may have tried to use the term "pyramid scheme" in a different way than what you're suggesting. In any case, I agree with your statements quoted above. I don't like pyramid schemes (such as AmWay, and many others), and would never associate Bitcoin with pyramid schemes in a discussion with newbies/nocoiners. If anything, they are usually the ones who bring the pyramid scheme framework in the discussion, and falsely claim that Bitcoin is a pyramid scheme. In such cases, I try my best to explain/prove to them that Bitcoin is NOT a pyramid scheme, and is also NOT a Ponzi scheme (another term they often associate with Bitcoin). I try my best, but I fail miserably in most cases, it seems. They just don't get it, or they don't want to get it, or they think they get it and don't want to listen to me preaching to them about something they think they already know. Most of them seem to have already decided that Bitcoin is a scam...because the TV told them so.


I see your point. Let's move away from the pyramid thing, because it's an explanation only nocoiners tend to use, anyway.

[...]

I think OOM puts it quite nicely in his post above (which I snipped in the interest of readability). I think most people would treat anything as revolutionary as Bitcoin with a negative attitude. It's a natural reaction. I don't blame them. I just felt the need to "plant the seed" so to speak, and let it grow, or not. In most cases it dies. Maybe out of 30 people, one would buy a small amount of BTC, two would buy shitcoins because "Bitcoin is too expensive" and the rest would just dismiss it. Well, if you think about it, Bitcoin has shaken the foundations of a monetary system that all of us grew in and were brainwashed to trust and accept as the only way to handle monetary wealth. It's so deeply embedded in our brains that it's almost like a natural reaction, a millisecond response as OOM puts it.

"Bitcoin? Be your own bank? That can't be right! Surely it's a scam! Seed words? Is this some kind of word guessing game? What? Put my next month's paycheck in Bitcoin? Are you insane? And get what? QR codes?" That's more or less what I get. Or used to get. Because lately there is noticeably more interest in Bitcoin, and those who laughed and joked in 2015 are now asking seriously. My response now is "Google it". Not to punish them or anything, but because I just don't have the time and energy for this kind of thing anymore. After all, maybe that's the way it should be. Darwin, nature and all. Some will get it, some won't. That's life. I feel I did my part in spreading the word when I could, and I still do if I see really genuine interest.

I don't know... Being a Bitcoiner has been the best thing that's ever happened to me, certainly financially, but also psychologically. It's a weirdly satisfying, pleasantly powerful feeling that has got to be felt to be appreciated, as I'm sure many WOers would confirm. And I can't even begin to imagine how it will feel 5-6 4-8 years from now (a HoDLer can only count years in multiples of 4...)
"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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bitcoinPsycho
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September 15, 2021, 10:21:41 PM

proudhon
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September 15, 2021, 10:44:37 PM



Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.
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September 15, 2021, 11:01:26 PM


Explanation
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September 15, 2021, 11:26:12 PM
Last edit: September 15, 2021, 11:44:39 PM by sirazimuth
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.....
Oh?  It's the same guy.

 Wink

ya think?

....
Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.

dude... I often wonder wtf is your purpose here?
The joke has long worn off.
I know, as everyone else does who frequents this thread, that you are packing a shitload of bitcoin, so what gives?
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September 15, 2021, 11:42:14 PM
Last edit: June 12, 2023, 12:48:02 AM by STT
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Debt default is deflation, it makes the worth of money that actually exists worth more I think.  I agree they'll end up turning it to inflation but I doubt we get an easy road where its only one side seen, I think we get both and a Richter scale graph where volatility has us swinging to both inflation and deflationary effects.   Its the FED who wants to insist they can ensure a smooth market where only one side occurs, supposedly they have proven that idea true but working wages of most common workers are now worth less under their tenure.


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September 15, 2021, 11:55:04 PM


....
Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.

dude... I often wonder wtf is your purpose here?
The joke has long worn off.
I know, as everyone else does who frequents this thread, that you are packing a shitload of bitcoin, so what gives?


Sussssh, he's hunting cwyptos.

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September 16, 2021, 12:01:34 AM


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September 16, 2021, 01:01:25 AM


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September 16, 2021, 02:01:25 AM


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September 16, 2021, 02:12:47 AM

Talking about China, have you noticed that it no longer says "Mainland China" or "Hong Kong" as place of origin on Chinese sellers pages on Ebay. It now says "Greater China" on all of them, sometimes followed by a city, including Hong Kong.
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September 16, 2021, 02:18:22 AM

Talking about China, have you noticed that it no longer says "Mainland China" or "Hong Kong" as place of origin on Chinese sellers pages on Ebay. It now says "Greater China" on all of them, sometimes followed by a city, including Hong Kong.

I noticed it is impossible to compete with Chinese sellers as they don't pay shipping.
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September 16, 2021, 03:01:34 AM


Explanation
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September 16, 2021, 03:23:23 AM

Quote
As of Tuesday evening, Bitcoin’s 50-day moving average stood at $45,802 whereas the 200-day moving average was at $45,875, according to Tradingview.com.

Bitcoin is soo going to print next golden crossover guys and the bulls are back to print another ATH and even prepared for some dips also not to worry.Have you got your pie of sats at these discounted prices because we are sailing towards next stop.

Golden Crossover opportunity
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September 16, 2021, 03:35:28 AM
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Quote
Inflation hits 18-year high, fuelled by pandemic factors printer going brrrrrr  

https://www.theglobeandmail.com/business/economy/article-canadas-inflation-rates-jumps-to-41-fastest-pace-since-2003

Quote
Canadian inflation surged in August at the quickest pace since 2003, fuelled by the summer reopening and other pandemic factors, and causing a stir on the campaign trail ahead of next Monday’s federal election. The consumer price index (CPI) jumped by 4.1 per cent in August from a year earlier, Statistics Canada said on Wednesday, up from 3.7 per cent in July. For five consecutive months, the annual rate of inflation has exceeded the Bank of Canada’s target range of 1 per cent to 3 per cent. However, the central bank expects higher inflation will be temporary, and some financial analysts said on Wednesday that price increases should slow in the coming months.

Not one mention of the primary cause of future fiat currency inflation: Quantitative Easing (aka printing money out of fresh air). And we're all holding the best hedge against it: BTC.
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September 16, 2021, 04:01:31 AM


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September 16, 2021, 04:14:38 AM


.....
Oh?  It's the same guy.

 Wink

ya think?

....
Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.

dude... I often wonder wtf is your purpose here?
The joke has long worn off.
I know, as everyone else does who frequents this thread, that you are packing a shitload of bitcoin, so what gives?


Can't a guy just offer confirmed analysis around here? Sheesh
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September 16, 2021, 05:01:25 AM


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September 16, 2021, 05:13:48 AM
Last edit: September 16, 2021, 06:32:15 AM by JayJuanGee
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[edited out]

I see your point. Let's move away from the pyramid thing, because it's an explanation only nocoiners tend to use, anyway.
THB, when i originally wrote it, i had that feeling it might go wrong a little (way less worse than expected, though).

I guess I was too nice to you, if you are feeling that you got through that whole pyramid thingie-ma-jiggie relatively unscathed.

 Cheesy Cheesy Cheesy Cheesy Cheesy

There's a big problem with education. Most people don't want to get educated, because it makes them feel dumb.
... let that sink in first.

Only 10 more seconds...

I agree.. so there surely can be some dancing around any themes in terms of allowing for people to come around to whatever topic at their own pace.... and perhaps with a little prodding that may or may not work...especially if they may well not be ready to be prodded.

It makes them feel dumb because they think they already know enough about (Bitcoin. Mainly because someone, or the MSM channels they trust).
So they unconsciously think if someone educates them about something they already (believe) to know, the one educating them is looking down on them.
This is because most humans are still more like apes. Give em a pussy/dick and a banana, they're happy. Take their pussy/dick away (or their banana), they get angry.

Fair enough.

It's only that we all learned to communicate and imagine on a high level, which in turn built so much brain mass, that almost nobody is able to use it in a sane way.
The imagination factor, in contrast to chimpanzees, makes them even angry when they imagine someone takes their banana (or pussy... you know the deal).
This way, "normal" peeps are easy to manipulate. Just tell them they gonna lose their wealth when investing it into a new digital money they can't touch and spend at Walmart, and those who had it first will sell it later for them to lose. It's sufficient to put off 99% of peeps investing into Bitcoin. Repeat it often enough and they will also spread the word, effectively becoming educators themselves.

I am having trouble with too dumbed down of an assessment of the masses.  I do agree with pareto distributions, while at the same time I do appreciate that some principles, such as gresham's law will come out and they do not need to understand it in order to follow it.. which is one of the great subconscious apsects of bitcoin.. so in that regard, who gives any shits about whether the masses understand bitcoin or not.. we have no major duty to educate them.. they will come around when they come around.. in accordance with gresham's law type dynamics and surely there will be a lot of them buying their first bitcoin at $1million or higher (or course when I refer to bitcoin in this context, I am referring to satoshis) when they could have bought sub $50k and other points cheaper than $1million.

So imagine AlcoHODL walks up tp these people, tells them about Bitcoin, they laugh about him, thinking to be more educated than he is about BTC.
There is very little chance to make them understand even the core principles of BTC, because every explanation will trigger a millisecond response from their mind. Like "i know already, BTC is a scam, we all know. Only AlcoHODL puts in all his money, which he is gonna lose for sure. What a moron. And then he's trying to convince us... LOL" - They are not even aware of those internal responses of their mind, because they are just impulsive feelings, summaries of a contextual "knowledge" they have built over time.

I don't disagree with you on this point, but it is not going to stop some of them from actually coming around to buy bitcoin at prices less than $1 million, and of course, there is going to be variation.. some will get in under $100k, and others, under $500k and others might not even get in until in the $5million arena.. but whatever.. that's o.k.  people have their rate in which they come in, and some people intuit Gresham's principles better than others.., bitcoin gives no shits about when they get in exactly.. or even if they choose not to get in forever.. even though no one can use a dial up anymore...and at some point, if they want to buy a carton of milk or a some hamburger meat without having to walk 1/2 mile, they are going to have to get their lil selfie some kind of bitcoin wallet (perhaps a lightning wallet or whatever might be the then craze at the time that they finally do get their lil butts into this world changing most valuable and sound money).

I was a hardcore leftie when i was young, so i learned not to trust banks pretty soon, to question WHY somebody is super successful or rich. For me, Bitcoin was a revolution in itself, as soon as i educated myself about it. Nobody walked up to me and said: "have you heard of that new internet money?".

Some of us have been lucky in our circumstances in terms of that both bitcoin resonated with us and we were comfortable enough to act enough upon whatever did resonate in order to begin to build some kind of bitcoin investment plan.  There is some luck in there too.. but sure, bitcoin does seem to resonate withsome of us more than others and maybe some of us end up being in a better place to put $10 per week away, or whatever our initial amounts were and then to learn along the way and perhaps increase our investment amount and to learn along the way... including but not limited to learning NOT to sell too much too soon.

To sum it up: I'd try to convince a nocoiner about the sanity of Bitcoin one time. If he/she doesn't get it, or is already "clever enough", just like the two selfmade shitcoin traders in my lil story from two days ago, i'll let it go. If i really like or care about somebody, i'd try again after a while. Then i just leave them up to themselves, in regards of Bitcoin.

Of course, you can draw your interaction line wherever you like, and probably each of us will draw the line a wee bit differently - and maybe we are not even consistent.  You know what they say about consistency, right?

I get the sense that many of us who are pretty damned involved in bitcoin are never really going to escape having a variety of interactions with nocoiners, and of course, there is going to be some gradience.. and sometimes I have decided to completely write off some of my no coiner friends/relatives, but the topic can be quite difficult to avoid - even when some of us might try avoiding it.. but if they start to bring it up more and more, then sometimes the elephant in the room may well need to be addressed.

There could be times in which I might decide to proclaim that I just will not talk with x, y or z person about bitcoin and even prescribe parameters that would need to be filled before I would reverse myself on such decision.. and even if I get frustrated with the bitcoin topic in regards to talking with some no coiners, I also do tend to have quite a bit of sympathy so long as I speculate that they seem to really be grappling with the topic rather than just spouting out nonsensical talking points.. There just seems to be no exact line for me.. even if I know that sometimes, I have just cut people off when the conversation got too frustrating for me, and I have even said that I do not mind talking with them about the topic, but we might have to come back to the topic later (maybe my even suggesting that they need to do a bit more homework.. or we need a break, for now).

~sjipped~.

Of course, I am not against squiggly lines and TA, so long as they are considered in a proper context.... including considering that the mere placement of squigglies on a chart can sometimes communicate (intentionally or not) subliminal messages that may well assign higher expectations than such line might have intended to communicate by the author... and sure sometimes even the author of the squiggly line(s) will sometimes assign more value than deserves to various squiggly lines once drawn.
😆😅 Oh dear! This is squigglier than the lines, howbeit.

You seem to be either fighting too much in a place in which no fight should be necessary or you are defensive about something in which you need not be defensive.  I made my point and you seemed to want to continue to go down the path of failing and/refusing to recognize my point.. even though I outlined my point for you in what appears to be a pretty clearly and in a non-squiggly way.

I wonder if you are wanting to insist that your squiggly lines have some kind of deeper meaning than what you had already pointed out and that you had a few opportunities to explain further but so far have not really explained much beyond just implying that there is something behind them. In other words, you seem to have have failed/refused to explain them more when given an opportunity, after my very first response asked about them.. and you merely suggested (without explanation) that you have some kind of higher knowledge about the supposed meaning of squiggly lines and therefore you would explain your squiggly lines if I were to treat your lines more seriously.. because they happen to be based on deep meaningful concepts like BBs and MAs and perhaps other very supposedly important things like that?

If you have something about those lines, spit it out Mpamaegbu.. Spit it out.     Roll Eyes Roll Eyes
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