Topic: rpietila Wall Observer - the Quality TA Thread ;) - page 155. (Read 907212 times)

It's happening.

We need Monero or Zerocash to go mainstream for privacy. Bitcoin will be more about accountability it seems.

Hey all and regards to Risto my fellow countryman

I have a question for the good readers and writers of this quality thread.

Elsewhere on these forums I read that a son to a (oil) billionaire got tasked by his father to look into Bitcoin. The result was interesting - he had to advice his father against it, as it was "too transparent". They didn't want other people to know what they invested in and where and when they bought their local coffee.
Even if the story is hearsay, I can relate to a son of a billionaire thinking that way.

What are your thoughts regarding this? How come bitcoin still keeps raking in success after success, when people will lose a large portion of their privacy along with using it?
And finally, how can the general consensus be so one-eyed to think that "mostly criminals or shady dealers will use anonymous coins"? In my country, cash is used almost as widely as cards and nooone, repeat noone will raise a brow if you pull out bills from your pocket. Which are -anonymous-! currency.

Regards,

3 fundamentals of production, decentralized:

1. Information: What to build, how to build it efficiently, how to market your product  (Web)
2. Exchange: How to efficiently get value for your product (Bitcoin)
3. Fabrication: efficiently constructing the product (3d printing baby steps)

The Bitcoin 'bubble' has already done the media cycle at least twice, sentiment is starting to change, it's no longer treated as a fad so much. Other crytpos aren't really even on the media radar tbh.

Well i think it is as easy, I can with a single click trade all my Bitcoins for any other alt currency on an exchange instantly. What is important is that it would take a catastrophic event to cause a critical mass of people to do this in the same time frameframe, and to the same alt coin. It's possible, just really unlikely.

They will likely speak of a "crypto bubble" sometime soon, emphasizing the failure of all other cryptos (and implying a failure of bitcoin as well, most likely just after a peak during a bear market). But indeed bitcoin will be like the internet. It will continue and it won't care what happens around it. And they will surely make reference to the dot com bubble. Bad news sells, good news does not.

And with the millions upon millions invested in bitcoin I doubt anyone will seriously even think about switching to a different crypto. It's not as easy as pressing "delete myspace account" and "welcome to facebook".

Emphasized for emphasis.

But the dot-coms were companies not the technology. The success of the internet itself never faltered, it's just that people scrambled to speculate on companies to capitalise on it, and some terrible or highly risky companies got too much money. It's easier to say Bitcoin itself will succeed than it is to say that blockchain.info or coinbase will be the next google. There's also another dimension to crypto in that there can be an alt-coin bubble in parallel.

So, with the dot-com bubble, pets.com is often used an example of the crash. The pets.com of crypto could be a company (e.g. gox), or it could be an alt coin (e.g. litecoin), but it's not crypto itself. Just as HTTP and SMTP (email) went from strength to strength, so will crypto.  

On the otherhand there is a possibility that another crypto overtakes Bitcoin, but this won't happen overnight, and any Bitcoin holders would have plenty of time to diversify towards the alternative before suffering any real loss.

All of the above arguments could also be applied to dot-coms when they were in their early stages. I'm sure early adopters were as ecstatic as BTC early adopters. So it must not be a surprise when bubble crashes sooner or later, before cryptocurrencies become as usual as Internet.

And others -

I often said BTC is as disruptive as the Net. My tune has been changing. The Net is now like electricity, it is a given and a required necessity. We are talking about the language
of money evolving and with it peoples perceptions. This is not just going to be financial. It is going to rock perspectives, realities and imo, in part, usher in another age.
But that event horizon is just so hard to see past, but I can feel and taste it. My point is, this might very well be much bigger than the Net, at least as far as the Political changes it
brings. The Net put pressure on governments but the strong governments were a part of it and used it. The same might happen to BTC, etc. but I have a feeling we are going
to see it GREATLY weaken the power of the State AND it is going to come in forms that we just can't make out from here.

Barring some catastrophe, when we look back on this time in a few years, it will all make sense. Bitcoin and the cryptos are sort of laying down a new Internet.

The whole blockchain technology, which is in huge part where the disruption will also take place is going to rock the business and political world.

The price that is to come is probably very difficult to imagine. Look at the price now, roughly $650. How many people really even have a clue of what BTC is?
How much of Wall St. is in? Has the investment money really even started? Chew on this fellas, we are still early adopters...

Its about sharing

I agree.  But 100x by next year?  I am trying hard not to get my hopes up that high.  It could happen though.

This, many people see high prices and they immediatly think "oh, it's a bubble, it's a Ponzi, nothing can be that profitable"

But they fail to understand the impact of the underlying technology.

Bitcoin is bigger than facebook, bigger than email, bigger than the internet.

And the best thing is, you can invest directly in the protocol itself!

Many people will slam their head into the wall by next year for not seeing this obvious moneymaker before it increases in value another 100 times or so.

Yes, so imagine how much is going on behind the scenes.......silicon valley, banking, govt and that's not US-centric; this is worldwide.

re: auction - Where these coins are going is very interesting. I caught a little of a live press conference and I'd heard mention of four countries.

Here's an old chart from May, I have some of the numbers off a bit, timing too (should have accounted for auction), but my projection for last month's price move is starting to sketch out nicely. The projection targets a challenge of the all time high in August. Maybe I should move that out a bit.

https://www.tradingview.com/v/gT8w1Qnq/ for chart (click the arrow to progress candles)

Here's a pic from back in May:



Edit: the Three Drivers Pattern is a stretch. I learned more about it and made an attempt to correct it here: https://www.tradingview.com/v/ki1IKkbD/

Honestly, the event horizon is getting to the point that looking one year out is hard.
It is starting to really look like BTC might be the foundation for the 2.0 technologies and
A host of other coming technologies. Those "crazy" price projections are starting to
make contextual sense as the holes are being filled with so many possibilities.

Its about sharing

Do you really understand how disruptive this space is?

If someone had predicted this list of developments a year ago, it would have seemed to many as being absurdly bullish. And yet, here we are.

What amazing things will have happened between now and one year from now? Perhaps I should start a thread on that question ....

Wouldn't it look like dot-com bubble?

What is scary strange is just how fast this space is moving. Think back to just a year. There was not much going on outside speculation.
Now, Wall St. is just starting to get involved, Money is pouring in to infrastructure, Wallets and Services abound, big companies are jumping on board, etc.

What about in another year? Seriously, if this continues (and not to dwell on price but it is a huge measure of adoption and success) we might be in the $5,000-$10,000 range.
Unless something catastrophic happens then things are going to continue. And by catastrophic, I mostly mean I don't think the Elites planned that the free market might
rescue people from their planned USD/Euro collapse... (Unless BTC is theirs   ) No more wars please... (For the love of People)

IAS

The excess of doom is extremely tiresome. Superbulls can be a grind too but at least they're a bit more variable and sometimes actually listen to others.