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

[modrobert]

This is probably the last thread to get any support for altcoins (aka shitcoins), but not for lack of trying.

Still, to me there is a key difference between investing (as a store of value) and using it as a payment system.

Personally I think using altcoins as a pure payment system for small transactions is better than using something like PayPal (or Venmo), because at least altcoins are decentralized for the most part, and some of them tries to improve privacy.

I really like the lightning network (LN), but have to admit also using Litecoin for payments especially after they introduced MWEB (optionally making it more like cash). If using lightning or altcoins fail I try to resort to cash (fiat) but it slowly gets harder and harder to use, especially in Europe, perhaps in the western countries in general, last resort is to use something like Credit Card or pay direct via bank transfer by scanning QR code using phone app.

What do you guys think about payment systems? Shitcoin worse than Credit Card?

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[goldkingcoiner]

Imagine telling in 2060 your grandsons that you paperhanded your bitcoins in 2024 for a sub 60K dollars.

"what? You sold your bitcoins for less than a litre^(*) of milk?"

(*) Yes, I know you guys over there don't know what a litre is.

yes we "over here" know what a litre is smartass

as in my cat had a litre of kittens, plural is kindle of kittens

crushed it

To be fair most Americans know what a 2 Liter Bottle is but not a litre. Lol

Two is more, which is better. Why learn 1 at all?

[OutOfMemory]

This is probably the last thread to get any support for altcoins (aka shitcoins), but not for lack of trying.


What do you guys think about payment systems? Shitcoin worse than Credit Card?


...

TLDR

If you say Shitcoin, you should include the fiat currencies as well.
The pivot points are still: (De)centralization and Inflation.
Bitcoin (the protocol) was created to solve both, very basic problems of financial systems, while all the other Shitcoins failed to do so.
Sure, there are always some caveats, for example the 51% theorem in regard of Decentralization, but basically using Shitcoins for payment systems is only better (or more widely) supported, yet.
If you are really interested in free (as freedom) money, you should not be interested in getting any support for shitcoins.
Lightning is a step on the evolution of Bitcoin as a global payment system. Pretty clever, as it also solves a big part of the scaling problem, but that's just my opinion.

Let me transform your original question to be more compatible with this thread's topic:

What does Bitcoin need to replace shitcoins and centralized payment systems?

[El duderino_]

Give me a litre of coffee this morning please.

Taking piece of the litre in latté…. Other piece of the litre is coming in Pomton

Charged up and ready for CF

[goldkingcoiner]

This is probably the last thread to get any support for altcoins (aka shitcoins), but not for lack of trying.


What do you guys think about payment systems? Shitcoin worse than Credit Card?


...

TLDR

If you say Shitcoin, you should include the fiat currencies as well.

I would take fiat over a shitcoin.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

This is probably the last thread to get any support for altcoins (aka shitcoins), but not for lack of trying.


What do you guys think about payment systems? Shitcoin worse than Credit Card?


...

TLDR

If you say Shitcoin, you should include the fiat currencies as well.
The pivot points are still: (De)centralization and Inflation.
Bitcoin (the protocol) was created to solve both, very basic problems of financial systems, while all the other Shitcoins failed to do so.
Sure, there are always some caveats, for example the 51% theorem in regard of Decentralization, but basically using Shitcoins for payment systems is only better (or more widely) supported, yet.
If you are really interested in free (as freedom) money, you should not be interested in getting any support for shitcoins.
Lightning is a step on the evolution of Bitcoin as a global payment system. Pretty clever, as it also solves a big part of the scaling problem, but that's just my opinion.

Let me transform your original question to be more compatible with this thread's topic:

What does Bitcoin need to replace shitcoins and centralized payment systems?

it needs 12x the blocks it makes now. note the blocks would be with 1/12 the coins you have now
it needs 10 digits not 8.

this would mean it could handle 12x the transactions it does making it better equal to the LTC/doge ability

and with 0.0000000001 per byte as minimum fee             moving coins would be cheap.



other way would be a simplistic LN style network.


and but of the above still have issues because they opened to max coins at 21 million


Doge has ever decreasing regulating inflation which solves the mining issue.


BTC still has a longterm mining issue, that make store of value and hodl more attractive then using it to pay for things.



Doge ................coins ........ inflation rate
year 1 . . . . . . . .1x
year 2  . . . . . . . 2x    . . . . . . 100%      
year 3
year 4
year 5
year 10  . . . . . 10x  . . . . . . . na
year 11  . . . . . 11x    . . . . . . 10%
year 20 . . . . .  20x   . . . . . . .na
year 21  . . . . . 21x  . . . . . . . 5%
year 25
year 26
year 50
year 51
year 100  . . . . 100x  . . . . .na
year 101  . . . .. 101x  . . . .1%


Doge offer perfectly regulated decreasing yearly inflation rate. that can be predicted for centuries to come.

thus solving the mining issue of rewards. and perfectly regulating inflation in a totally predictable manner.



Preaching this on this thread makes people get pissed at me.

Fine than show me BTC with a better method.


BTW I paid only 24 cents to move over 1000 usd on the main btc block chain today.

Was it instant no it took over 22 minutes and still waiting on it to clear.

I sent 825 usd cash via zelle on tues was it instant well under 1 minute cost was zero bank to bank andd it was a send that needs documentation


In the USA btc competes with zelle Venmo and PayPal all close to instant all can be no cost AND trackable which is sometimes need.


Frankly I don't ever see BTC being able to be a good p2p for under $100 sends

unless they do the following :

 "it needs 12x the blocks it makes now. note the blocks would be with 1/12 the coins you have now
it needs 10 digits not 8."


btw I could see wars over btc and doge in the future just look how heated people get on this thread when you simple show them real math about the problem

[modrobert]

TLDR

If you say Shitcoin, you should include the fiat currencies as well.

I did mention, but you missed it (TLDR).

The pivot points are still: (De)centralization and Inflation.
Bitcoin (the protocol) was created to solve both, very basic problems of financial systems, while all the other Shitcoins failed to do so.
Sure, there are always some caveats, for example the 51% theorem in regard of Decentralization, but basically using Shitcoins for payment systems is only better (or more widely) supported, yet.

Definitely decentralization, but back in 2011 - 2013 I don't remember ever thinking about using Bitcoin as a hedge against inflation, it was for mining profit, payments and the wild west beginnings of speculation/trading. People dismissing Bitcoin in those days usually talked about ponzi schemes, bubbles and scams (remember Pirate@40?). Altcoins like Namecoin and Litecoin were OK, different tune now. Although after accepting Bitcoin payments as an online business since 2011 I did notice that by waiting a few months or so before cashing in usually meant significant increase in fiat value compared to other payment methods like PayPal and Credit Card which only meant fees (around 4%).

If you are really interested in free (as freedom) money, you should not be interested in getting any support for shitcoins.

I'm thinking "free" as in not directly possible to block by government when you disagree with them which is becoming reality with credit cards and even bank accounts as of late. Are you thinking of something else? (Not even mentioning services like PayPal here, especially as a "seller", their acceptable use policy is getting worse by the day, frozen account for pretty much any arbitrary reason.)

Lightning is a step on the evolution of Bitcoin as a global payment system. Pretty clever, as it also solves a big part of the scaling problem, but that's just my opinion.

Agreed.

Let me transform your original question to be more compatible with this thread's topic:

What does Bitcoin need to replace shitcoins and centralized payment systems?

Interesting, to me Lightning is the perfect fit but it currently lacks adoption, because somehow people can't think of using their Satoshis (Lightning is still Bitcoin), only stack them.

[Gachapin]

seems the former 56k 57k support area is now resistance

will prepare my anus for more pain...

Cycle theory, fwiw, says at year's end we should be at around 70k. Hope we get there earlier though

You seem to be way too premature to be considering $56k / $57k as resistance.. but hey whatever, you do you.  I don't claim to really know.

Regarding your high for the years end... You bearish fuck!!!!!!  

it is resistance until now. let's see if it stays that way.

Year's end:
it's standard cycle procedure that 3 years after the cycle top that top will be taken out. That was standard until now. You probably know that, as you rode a few cycles. Nothing bearish about that

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[d_eddie]

Nihon-shu. It's more like wine than like whiskey.
Approx 30-36 proof range.

Nihonshuu has 15%-20%. The one with 25%-45% is Shouchuu.

Not a huge fan of shochu personally. Too bitter. It becomes better with some soda, but then I'd better have a highball. And back to whisk(e)y we are!

[Ambatman]

seems the former 56k 57k support area is now resistance

will prepare my anus for more pain...

Cycle theory, fwiw, says at year's end we should be at around 70k. Hope we get there earlier though

You seem to be way too premature to be considering $56k / $57k as resistance.. but hey whatever, you do you.  I don't claim to really know.

Regarding your high for the years end... You bearish fuck!!!!!!  

it is resistance until now. let's see if it stays that way.

Year's end:
it's standard cycle procedure that 3 years after the cycle top that top will be taken out. That was standard until mow. You probably know that, as you rode a few cycles. Nothing bearish about that

I think what he meant was $70K at years end is quite bearish
Because its too low and something only bears would say.
Ceteris paribus.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

Nihon-shu. It's more like wine than like whiskey.
Approx 30-36 proof range.

Nihonshuu has 15%-20%. The one with 25%-45% is Shouchuu.

Not a huge fan of shochu personally. Too bitter. It becomes better with some soda, but then I'd better have a highball. And back to whisk(e)y we are!

I'm not a particular Shouchuu fan either and only drink them in Japan, but a bitter one I never had.  However, I heard that there are a lot of bad ones out there.

Recently a Japanese friend who is into Shouchu giftet me this one:




Kichishiroku Pot 25°, 24.3 fl oz
https://www.amazon.co.jp/-/en/Kichishiroku-Pot-25%C2%B0-24-3-720/dp/B002B3R9B2?th=1

Really recommendable. Price-perfomance ratio is superb.

[bitcoinPsycho]

Go go go

[bitcoinPsycho]

Epic volume 😎

[Gachapin]

in one of the realities, the recent dump could serve as the perfect preparation for a 10k god candle straight to 70k