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

[franckuestein]

round 2 - fight!

^Exactly.
Let's see what happens after the correction
Volume, where are you?  

[adamstgBit]

https://www.youtube.com/watch?v=fZfg1Gtcg08

[ChartBuddy]

Explanation

[ensurance982]

I have owned a 386

Ahhh yes, those things were the real deal! Had one too, even before the Pentium times. My first machine had about 50 MHz I guess. Yeah I know, still quite a lot compared to other people here, but a lot of kids today wouldn't even believe that

[adamstgBit]

shorts approaching ATH.

duck and cover!

[79b79aa8d5047da6d3XX]

I have soldered together a 286 clone.

no you have not.

[ChancellorOnABrink]

Seriously do you think Bitcoin is less secure than fiat?

Yes I do.  How do you propose to measure that?

You are thinking one one level aka thief but think about devaluation and global $ system in a bad shape

Every billion printed out of air is gov taking in your poket

[wachtwoord]

Seriously do you think Bitcoin is less secure than fiat?

Yes I do.  How do you propose to measure that?

You are thinking one one level aka thief but think about devaluation and global $ system in a bad shape

Every billion printed out of air is gov taking in your poket

Fiat is not safe at all, so even the least amount of security is sufficient to beat that.

[macsga]

@JorgeStolfi:

If you lose money to credit card fraud, you have hope to recover the money, or at least a big company that will be interested in hunting down the thief. If your bitcoins are stolen, you will never get them back, and all you will get from the bitcoin community is shrugs and jeers.

Jorge, you're presenting a comparison of an 5-year old child (bitcoin) with a 200 year vampire (fiat). Yes, there's the infrastructure to go after a CC theft, but were not EVER reported stolen funds over CC fraud? You (and any sane people) may be after your monthly CC reports, or you've managed to get an online confirmation via your CC payment system, but are you sure everyone out there acts like this?

Sure, there are many ways to store private keys securely.  Yet bitcoins still get stolen.  How is that?

In both cases ANYTHING that represents a store of value is subject to a theft. How come and bitcoins get stolen? EASILY (if you are not paranoid with security). Do you think 2M users of bitcoin are keeping their wallets safe? I'd use Pareto principle to make a hard guess of 80%-20% here. They're not. Same as with CC. I've seen many people keeping their CC pin in the same wallet with their CC. Neat eh?

Seriously do you think Bitcoin is less secure than fiat?

Yes I do.  How do you propose to measure that?

Measurement of bitcoin security vs fiat. The answer has a lot pros to bitcoin; I'll stick with the basics though:
1. Bitcoins are stored in YOUR wallet - Fiat is stored at someone else's wallet
2. Bitcoins need no trust to anyone but the internet to operate - Fiat needs you to entrust a third party for storage/supply/availability
3. Bitcoins are not subject to inflation (ie: someone decides to just pop up a couple of millions for his daily needs) - Fiat........

Just for curiosity, if some day you use bitcoin to buy a car, how will you make sure that the address that you are sending the bitcoins to is indeed the car dealer's?  What will you do if the car dealer tells you that they did not receive any bitcoins, and that their payment address is not the one you used?


Do you propose that you NEVER messed up copying your CC ID online? BTC has its QR code for that. Scan - Charge - Pay. Simple as that. Both cases have their pros and cons. Don't postulate that fiat is better than bitcoin. I won't postulate bitcoin has no problems too. IT HAS! but they're being solved and this makes it lot better than Draghi's decision for negative interest rates. You DO REALIZE that if you keep your cash in your bank next year it will be LESS?

 

[JorgeStolfi]

Every billion printed out of air is gov taking in your poket

Every day miners "print" a bit over 3600 new BTC.  Have you checked  what is the resulting inflation rate, in % of the existing BTC per year?

[minerpumpkin]

shorts approaching ATH.

duck and cover!

Wouldn't this be a great time to go and burn some shorts? I miss the good old days of starting off a cascade of burning shorts that drives us up 10%. Seems to only go the opposite way these days 

[macsga]

Every billion printed out of air is gov taking in your poket

Every day miners "print" a bit over 3600 new BTC.  Have you checked  what is the resulting inflation rate, in % of the existing BTC per year?

There's a difference between "printing" and "minting". In one case, there's a simple decision. In the second one there's the effort of MILLIONS miners around the world to solve a random matrix eq. There IS a difference.

[ChancellorOnABrink]

Every billion printed out of air is gov taking in your poket

Every day miners "print" a bit over 3600 new BTC.  Have you checked  what is the resulting inflation rate, in % of the existing BTC per year?

Yes but i know the rule ! BEFORE

And nobody can change that rule ! 

[adamstgBit]

shorts approaching ATH.

also rates for borrowing bitcoin have been very steady  at  historical lows at 0.0055, they have recently(Sept. 2) more than doubled to 0.0175, but this is still at historically low levels

borrowing fiat has never been cheaper also.

the leveraged market is starting to have some reasonable rates for borrowing, market is maturing.


just say'n.

[ChartBuddy]

Explanation

[grappa_barricata]

[hyphymikey]

I don't think anybody is in the mood to borrow fiat and go long just yet, and the ones borrowing bitcoin to short better have a trick up their sleeve because it doesn't look like it will turn out well for them.

[KFR]

I see from the quotes that trollfi still doesn't understand Bitcoin's finite supply and distribution model (or perhaps he's still just playing the disingenuous game) so maybe it's time to post this again.

In a few hours we will be 99 weeks away from that "3,600 per day" becoming 1,800 per day.  If the professor again claims he can't understand the following graphic then you should probably all just make like the rest of us and put him on ignore.

http://bitcoinclock.com/

Scarcity

[macsga]

I see from the quotes that trollfi still doesn't understand Bitcoin's finite supply and distribution model (or perhaps he's still just playing the disingenuous game) so maybe it's time to post this again.

In a few hours we will be 99 weeks away from that "3,600 per day" becoming 1,800 per day.  If the professor again claims he can't understand the following graphic then you should probably all just make like the rest of us and put him on ignore.

http://bitcoinclock.com/

Pardon me brother, for I was in the mood for feeding a troll today.

Goodnight people. Friday's coming!

[adamstgBit]

I don't think anybody is in the mood to borrow fiat and go long just yet, and the ones borrowing bitcoin to short better have a trick up their sleeve because it doesn't look like it will turn out well for them.

oh there getting squeezed right now, it just hasn't turned into a full blown panic yet.