Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 11540. (Read 26586323 times)

washed their hands of crypto though

Ummm.... Dwolla never left.

Short banks - long lightening network

https://twitter.com/WhiteRabbitBTC/status/1093596838811389953

JayJuanGee, what in the fuck is this jibberish you're posting?  Your argument is basically that since bitcoin has some minor level of liquidity *right now* it's guaranteed to always be there.  No, it's not, just like hundreds of other fiat notes and altcoins whose liquidity used to be something and is now zero.  The only thing that can maintain liquidity on a long enough timeline is an actual use case. 

Gold has a lot of use cases, although much lower than silver and copper, so that typically prevents it's liquidity from imploding and the commodity going to zero.  Bitcoin's only real use case is regulatory arbitrage, which is an untenable, TEMPORARY feature.  Transaction validators are designed to centralized, traffic is not obfuscated, transactions are non-fungible, etc, so it's extremely easy for the govt to stop regulatory arbitrage in bitcoin and even control it entirely.

Then all you have left is some fake claim of scarcity which isn't even true since cryptocurrencies have no valid Schelling point.  In this thread you have people who only care about Ethereum, or only care about Monero, or only care about Bitcoin.  People just flee to whatever the blockchain pump and dump of the day is, whatever has the lowest transaction fees at the time, or whatever coin where the distribution favors themselves instead of the next guy.  Metals do not have any of these problems because you can't create a new noble metal in your basement.

Hey Roach,

Have you noticed that since 2013 the advancement of bitcoin's liquidity has grown exponentially?  What does that say for the ability for a BTC HODLer/investor to cash out of bitcoin at any time that s/he wants?  

Of course, any of anyone could hypothesize that bitcoin's value could drop so quickly that a HODLer is not able to find anyone to whom s/he can sell.  But that hypothesis flies in the face of bitcoin's current liquidity status and actual facts on the ground.  

Surely, many folks get into bitcoin with a decently enough timescale, but merely getting into bitcoin does not stop HODLers from getting out or changing his/her BTC allocation at any time that s/he wants.. There is quite a bit of flexibility in that regard, so your attempt to suggest that any BTC HODLer / investor is locked into his/her position might be a criticism that is better applied to PMs.  In current times, it seems a lot easier to tweak a bitcoin position than to tweak a PM position, no?  

Finally, I understand that your various asserted criticisms of bitcoin assumes an Armageddon situation, but let's get real.  What are the odds of an Armageddon in the next 10 years or so?  Probably less than 1%, even though you want to presume such Armageddon odds to be much higher than that.  The way you talk, you are placing Armageddon in a kind of 50% ballpark.. or maybe you could correct me and give an actual prediction for Armageddon (that makes PMs valuable) within the next 10 years... Go on, give a number for it.  I anticipate silence from you, which is usually the case whenever you are not presenting your dumbass speculative and non-substantiated talking points.

^As you can see, this Last of the v8 guy doesn't give a flying shit about what's true or false.  Instead of defeating the Jew banks, his only goal is to attempt to pull a Judas and sell out humanity for whatever pocket change he can get.

To be a "store of value" requires being a non-perishable physical commodity, not an imaginary token, fake commodity.  When a rainy day comes around and you need some monetary liquidity, there is zero guarantee anyone will want or accept an imaginary, fake commodity.  On a long enough timeline, it's guaranteed they won't.  The Aristotle argument on money is correct and Plato and John Nash are wrong.  

Plato was so horrifically wrong, he might even be one of the first well known Jew banker shills - a Hamiltonian.  Due to this obvious blowout in fundamentals, it's 100% guaranteed the invisible hand of the market causes physical metals to demolish imaginary digital shitcoins in the long run.

I actually think that Bitcoins 'ability" to survive huge price drops but not to go to zero is one of its selling points. Usually volatility frightens people and I hope it does for those who are trying for quick profits and who we do not really need. But I think people that see the benefits of bitcoin and buy bitcoin for those benefits are not going to be put off buying especially since it has done these big drops before and survived and also because the drops have not arisen through the discovery of some fundamental problem with bitcoin itself. For new people asking me about bitcoin I show them one of the charts that show how holding has been so "lucrative" for people - so long as they do not need to sell in say the next 5 years and it stays moving up as it historically has done they will do be ok. if they are not putting more than 5% of their savings into bitcoin at the first buy-in to me at least is a chance worth taking.  But it is still a relatively hard sell with some of the "technical" things they have to do ( wallets etc) that traditionally have always been done for them by a third party (eg setting up bank accounts etc)

What about a 100% bitcoin retracement

Brock checks out-===> i told him about BTI ..(((stay tuned!))) weee

WO conservatives be like

Perhaps, current stagnation in btc price predicts large scale deflation?

This argument goes like this:
BTC was a clear market leader in 2017, then it turned around 9-10 mo earlier than the overall market (in US) started correcting.
Incidentally, btc main run roughly corresponded to a period of relatively rapid rates rise, see 5 year rates from July 2016-Dec2017 (rise from 1.2 to 2.4%)
Fed was not able to normalize rates at the usual 4.5-5.5%. They are now neutral at 2.2-2.5%.
Next time there is a recession, these 2-2.5% would either not be enough OR rates would go deep negative.
Deflation is an anathema for all policy-makers. Perhaps, that's why we hear lately so much about GND.
Not going to discuss the merit (especially the taxation levels, lol), but one thing is for sure: it would result in the inflationary stimulus.
Suffice it to say, large account holders (family offices) continue to accumulate bitcoin. They might see deflation coming first (difficulty for the banking system) followed by inflation (difficulty for everyone) afterwards. Bitcoin can play in both scenarios as a SOV and wealth preservation mechanism.
Perhaps, that GND stimulus (even if small portions of the program will ever see the light of the day) would counteract the upcoming deflation pulse that they are so concerned about. BTW, Armstrong also predicts a large bout of deflation, but maybe a bit later.

TL;DR declining and/or stagnating btc price predicts upcoming deflation?

If you can survive an 80% bitcoin retracement, you can survive anything.

and a period of zero sum games

and some sideways boring actions

etc

BTC= the whole package, get through and get rewarded

mmmm so they are just n00bs when it comes to BTC or what are you saying??

it seems I have to make some adjustments on my HODLnest

If you Guys making BTC Then there is no blame...., i myself would never
Leave the XhomerX hat campaign, its Maybe not paid but for my personal and moral and ethical being ...... its just a “i must have a HAT” 

Not my best session

Still up but give a little back today :-/

Just found this... Amazing - Zooko was literally shilling a referral URL till late 2011!

Isn't tether just solidcoin with a new name?

It matches DeathAndTaxes description of solidcoin.