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

[JayJuanGee]

What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?

It's a poker term long before "penny stocks." It means you lack confidence in you ability to play.

So it's a profit making game and not the future of money?

Is money not about profit?

Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits.

I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings....

I attacked you because you said you went full LTC which is foolish, LTC is tanking and doomed to fail. If you are considering so, you'd better go full fiat. I have no problem with people who don't see the big picture selling their stash of bitcoins. Enjoy your life.

YES>>>>> Mmitech seems to post about his engaging in several trading activities that are quite foolish, or at least, I have NOTICED that he has a tendency to NOT provided a very clear rationale(s) as to why such a course of action would be applicable to many other investors besides himself or possibly one or two others who wants to gamble in eccentric ways.

Probably the whole behavior or practice would NOT even matter to me, if he did NOT tend to become so self-righteous about what he is describing to be his plan and seem to suggest that since he is doing X, then everyone else should do X... and then he denies that he is making such recommendations...

[ChartBuddy]

Explanation

[smiley123]

Anyone read the Eyal/Sirer proposal to fix the hashing power centralization problem?

http://hackingdistributed.com/2014/06/18/how-to-disincentivize-large-bitcoin-mining-pools/

Looks good to me (apart maybe from the 'high variance for solo mining' issue which drives miners to pools in the first place).

Anyone else got some deeper thoughts on the proposal?

In the interest of keeping it simple until proper solutions like the above can be worked out, maybe pools can just split themselves into 2 pools internally when they go over a certain percentage.  They can still keep the variance to themselves because their combined percentage would be the same, but distribute the rewards between the internal pools.

[Wary]

[trolling] Participating in the auction is morally dubious. Are you a fence? If not, after buying these coins you should return them to their rightful owners. [/trolling]

[wachtwoord]

[trolling] Participating in the auction is morally dubious. Are you a fence? If not, after buying these coins you should return them to their rightful owners. [/trolling]

Nothing trolling about it. I know of a person not participating because of this.

[JayJuanGee]

What is a 'weak hand'? Why is this type of penny stock terminology used in bitcoin? Does this imply that bitcoin is some type of investment scheme to hold rather than a currency to use?

It's a poker term long before "penny stocks." It means you lack confidence in you ability to play.

So it's a profit making game and not the future of money?

Is money not about profit?

Bitcoin is supposed to be about creating a decentralized network to change the way the world does finance and payments - not about getting all the bitcoin participants to be rich off of the successive waves of bitcoin participants because the unit value rose and having a contest about who made the most profits.

I invested to make money and to be able to reach some goals ( the volatility makes it easier than working hard to earn that money )... I literally don't give a fuck about the technology behind it, it is a cool innovation and all but I don't think it is a reason for to risk my life savings and be a "strong hand" when I could collect profits and not be a greedy bastard.... most of the time people here will attack you when you tell them that you are trading to make a profit or when you tell them you cashed out some of your holdings....

I attacked you because you said you went full LTC which is foolish, LTC is tanking and doomed to fail. If you are considering so, you'd better go full fiat. I have no problem with people who don't see the big picture selling their stash of bitcoins. Enjoy your life.

 I want to remind most of you here that it is not your fucking problem what I do with my money or what I think about any investment...it is still my point of view and I don't want to hear that I am being "foolish"... period.

Don't advise people to sell their bitcoins to litecoins and i will stop saying it is foolish. Meanwhile BTC recovered and LTC is approaching 0.016. Remember what i told you : south 0.01 by the end of the year. Fiat will tank even more than LTC against BTC, but at least it makes sense to go full fiat for a risk adverse person. Don't advise here if you don't want comments on your advices.

I didn't advice anyone about anything and I don't even advice my best friends about any investment, you are just being buthurt because I am trading against your wish .... idiotic.

This is part of mmitech's problem; he seems to NOT understand the various implications or impacts about his own communications.. and possibly he believes that his posting in these threads is like creating his own personal diary  and has NO impact upon the world.   

Then, he goes on the OFFENSIVE, when he has failed to communicate, and he accuses others of interfering with his vibe, to the extent that he has any vibe.   OH.... MY!!!!!!!   
 

[Wary]

[trolling] Participating in the auction is morally dubious. Are you a fence? If not, after buying these coins you should return them to their rightful owners. [/trolling]

Nothing trolling about it. I know of a person not participating because of this.

My respect to this person. The trolling part only in demand of returning the coins: it's not realistic to expect altruism in such a scale. I myself am too greedy for such an act. Although just refraining from participation is much more easy to do. I, for example, do not participate  

[wachtwoord]

Yeah, too bad you need to wire the money to the FBI. Paying with counterfeited money would be priceless. Up yours motherfucker!

[Wary]

Paying with counterfeited money would be priceless.

 

[FattyMcButterpants]

[trolling] Participating in the auction is morally dubious. Are you a fence? If not, after buying these coins you should return them to their rightful owners. [/trolling]

something tells me that the people who are trying to bid on the SR coins, do not share many of the principles of many [ancap/right libertarian] bitcoiners....

[spooderman]

[trolling] Participating in the auction is morally dubious. Are you a fence? If not, after buying these coins you should return them to their rightful owners. [/trolling]

something tells me that the people who are trying to bid on the SR coins, do not share many of the principles of many [ancap/right libertarian] bitcoiners....

So what? Many people who do not believe that all information is equal use the internet! The point is they are living in our world, not us in theirs.

[hmmmstrange]

[trolling] Participating in the auction is morally dubious. Are you a fence? If not, after buying these coins you should return them to their rightful owners. [/trolling]

something tells me that the people who are trying to bid on the SR coins, do not share many of the principles of many [ancap/right libertarian] bitcoiners....

It would be funny if they went straight to the mixers.

Are there any mixers that are large enough to handle the fbi's 3k lots?

[Parazyd]

[trolling] Participating in the auction is morally dubious. Are you a fence? If not, after buying these coins you should return them to their rightful owners. [/trolling]

something tells me that the people who are trying to bid on the SR coins, do not share many of the principles of many [ancap/right libertarian] bitcoiners....

It would be funny if they went straight to the mixers.

Are there any mixers that are large enough to handle the fbi's 3k lots?

Blockchain.info could probably do it. But what's so funny about them going to the mixers? That's the first thing any smart buyer would do.

[ChartBuddy]

Explanation

[adamstgBit]

I can smell a bubble from a mile away, its happening.

[spooderman]

I can smell a bubble from a mile away, its happening.

I'd rather it just went up and stayed up than inflating and bursting again. It's stressful becoming 10x richer over night and the next day become 5x poorer!

[ArticMine]

I can smell a bubble from a mile away, its happening.

Yes the indicators of a bubble building are here. The US government auction could even be the trigger.

[bitcoinsrus]

I can smell a bubble from a mile away, its happening.

Yes the indicators of a bubble building are here. The US government auction could even be the trigger.

Can you explain how the auction could be the trigger. I think if it is, it could get media attention and the big company that buys it uses the coins to start an exchange.

is this your thought process or did you have something else in mind?

[TERA]

Why is everything called a "bubble"? A bubble by definition is something that is unnatural, unjustified, and rare; not something something that occurs regularly. The only bubble that has ever occured in Bitcoin was when it went to $32 in 2011. The $15-$32 portion of that might be called a bubble, and wasn't seen again for 2 years.

[Alley]

The SR coins will sell above market causing all sellers to raise there asks.  Prices will climb fast.  Just my theory anyway.