Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 12092. (Read 26630672 times)

They're going to tax the profits but not credit any losses!

You are a mindless robot repeating lies from used car salesmen like Andreas Antonopolous.

1)  Bitcoin has built-in middlemen and does not remove counterparty risk

2)  Any non-fungible currency is a permissioned ledger by default

3)  Transaction validators in every cryptocurrency are designed to centralize making them have no fundamentals and being completely pointless

4)  It's 100% impossible to create a decentralized digital currency

Thanks Hairy, well spotted - this is the first new stuff they've posted since 2014 (when they were vague and talked about it possibly being seen as 'gambling')

Now, how to put all the data together when a lot of the exchanges from way back are long gone; BTCE, Cryptsy, Gox et al. 

I will need to face up to my dirty little Alt flirtations over the years, of which I am sure I will find contain many embarrassing sojourns I had totally forgotten.

I always thought that the best to be during deflation is FIAT. Am I wrong?

Complex systems always collapse and revert to simpler ones.  There is no scenario in which the failing global monetary system based on scams and fraud flips over to craptocurrency (another complex, centralized, and fraudulent system).  It's guaranteed to be metals.  For anyone that doesn't understand why, probably start off reading or watching something like Joseph Tainter & complexity theory:

https://www.youtube.com/watch?v=G0R09YzyuCI

The following is an argument just to stimulate a change of perspective, I don't want to have the reason because the world is not black and white... anyway...

Ideally, Bitcoin can run outside the current money system and you don't need intermediaries.
It's value is given by people that decide how much is valuable, let's say scarcity.
You just need electricity and computers running which will stay here even in a giant economic collapse.

Paradoxically, Gold is pretty much the same as BTC, it's scarce and, even though it's a metal and you can produce beautiful goods with this, the main point about its value is because of scarcity. A mental change of perspective could attribute the same amount of value to a virtual currency rather than a material one, it's more efficient, green and functional.

Another correlation... theoretically mining Bitcoin is pretty much the same as mining gold and I think it was intended like that, the more you mine BTC the more it gets harder like gold which is a limited Earth resource, but the latter is a more expensive process, you literally need to dig holes instead of running computers 24h/day which already happened before BTC was invented.

In case you're unable to read between the lines, the only world in which bitcoin has value at all is one that does not experience deflation, because:

1)  deflation wipes out the banks and then forces banks to revalue gold and silver to the moon to add liquidity back to the system.

2)  bitcoin is just a dollar derivative so implodes with everything else in deflation, unlike metals because nations like China and Russia are going to force metals revaluation whether western Jewish scammers want it or not

In other words, bitcoin is like some retarded dotcom bubble stock where the only way it can retain any type of value is for the economy to continuously inflate into an even bigger bubble.  Silver and gold are thus viable as insurance and a hedge against deflation and inflation, while craptocurrency is only useful for inflation, and isn't even reliable for that since they have no fundamentals from being designed to centralize and can die off at any time due to this.

Very narrow minded approach. Complexity is what makes life so special btw.
Global Venezuela? BTC useless?
How can you even state that. Are you getting paid or something for every such statement?

Anything can be used as a mean to transfer value: paper, metals, crypto & salt! As long as both parties involved are in agreement.
Salt use to be valued as much as gold back then.
Maybe you should invest heavily into salt mate

So you are basically betting all-in onto a full worldwide financial and infrastructure collapse like nothing we have ever seen before?

Fuck, then yes, maybe your choice might make "some" sense in that scenario.

I just don't think that a full blown apocalypse is anywhere near to happen no matter how bad the worldwide economy is or how deep the next crisis is.

Some risky bet you are doing there, let me add. But if you are convinced about that, well, let it be.

I've already stated that I'm worried if there will be any type of economy left to spend metals in when the Jewish, usury debt bubble implodes.  There might just be martial law or global Venezeula.  Bitcoin will definitely be completely useless.  Odds of some sort of a cyclical dark age are pretty damn high.  Civilization is overly-complex, overly-specialized, and lacking redundancy on a local level.  

When an overly-complex system collapses, it does NOT magically shift into an even more complex one like craptocurrency.  There will either be a hard landing and a dark ages, a hard landing and back to metals as money, or the typical Jim Rickards and others style claim that the system will go bust, they immediately initiate a new Bretton Woods, and right then the price of gold instantly goes from what it currently is to $10-80k with silver also at some astronomical number and life goes on.

I do not see any circumstance in which the system goes bust and bitcoin is in any way usable or has any type of value.  Metals are the Schelling point of money and what receive all the wealth transfer from, not shitcoins. There are also massive govts equipped with nuclear weapons like Russia and China who have already cast their vote and it's metals as well.  The only people attempting to push digital shitcoins are the Jewish occupied, western govts (who are being defeated left and right) with evil kikes like Larry Summers telling people to buy them (for their own good of course and definitely not some ulterior motive).

Facebook is going to create their own stable coin for whatsapp, targeting the remittance market.

https://cointelegraph.com/news/bloomberg-facebook-is-developing-a-cryptocurrency-for-transfers-in-whatsapp

https://www.ccn.com/facebook-aggressively-hiring-blockchain-devs-discussed-launching-cryptocurrency-report/


Western Union's response: "We already operate with 130 currencies. If one day we feel like it is the right strategy to introduce cryptocurrencies to our platform, technology-wise, it's just one more currency. I think cryptocurrencies may become one more option of currency or assets around the globe to be exchanged between people and businesses. If that happens, we would be ready to launch."

https://cointelegraph.com/news/western-union-considers-crypto-partners-with-ripple-to-test-blockchain-payments


The race to dominate the remittance market has started, meanwhile Bitcoin has been able to do this since the start.

Take a moment to think what wayna is saying.
If BCH/BSV is being pumped, it means that BTC is being sold to buy this cancer. When those will be dumped, they will be traded for BTC (most likely).

PS: I totally disagree that EVERY altcoin is crap and valueless, I'd go with "most".

The question is not if there is more life in the universe. The question is if those life forms are similar enough for both us and them to recognise each other as a form of life. The possibilities are infinite and way beyond our extremely limited comprehension.

Everything is so relative - but I guess you know that.
Let me ask you one thing. How many conditions had to be met in order for life to exist in the first place?
Yet, here we are  

...and I agree with that, it's just a pump and dump game but this game is a great leverage for those who want more BTC or making profit from another asset, or both.

15K sounds like a lower bound.

I would say that 30-50K is more likely (each having 3-5 wallets of at least 10BTC).
Probably not more than 5K individuals with more than 100 BTC and not more than 500-800 with more than 1000BTC
https://medium.com/@BambouClub/are-you-in-the-bitcoin-1-a-new-model-of-the-distribution-of-bitcoin-wealth-6adb0d4a6a95

I am actually struck by the fact that there are only about 5K or so with more than 100BTC (16K wallets, but each person most likely has a few, so 3 seems to be a reasonable denominator).
In comparison, there are about 150K individuals with fiat wealth above $50mil (UHNW).
Source: credit suisse global wealth report (2018)

There are all kinds of threads on this forum discussing bitcoin distribution, and trying to figure out how many peeps are into bitcoin based on a variety of factors, including bitcoin addresses and accounts on exchanges, and then also trying to figure out how many bitcoins they might have. 

Surely the number of bitcoin addresses is one of the most difficult matters to suss out, and probably in the beginning of bitcoin there was more repeated use of single addresses, but the current recommended best practice seems to be mixing up your bitcoin addresses, including another related dynamic that multiple addresses may also be used within wallets, yet most of the wallets do not give a lot of control over sending from multiple addresses in the one wallet, which can sometimes show bitcoin addresses that are connected (and therefore owned by the same person). 

I personally have probably used in the hundreds of bitcoin addresses (no need to be more specific to make the point), so a lot of mine are completely empty - though showing a few transactions in their history.  Seems to be a bit of a puzzle to figure out distribution, and some reliance on voluntary surveys (people sometimes lie, too) might give some decent indications of whether people know about bitcoin (and what they know might be another challenge?), whether they have participated in buying bitcoin, and/or whether they intend to participate in buying bitcoin in the future.

r0ach, one day you will regret not having taken advantage of your "involvement" in Bitcoin to make more money. In fact, if you are not regretting it already is because you are as much stubborn as you seem to be.

You switched from being somewhat bullish in Bitcoin when there were less reasons to be, to a full anti Bitcoin position. You should ask yourself if the main reason for that is because you made the bad decision to cash out into silver and you are unable to accept that it was a dumb decision.

Answer me HONESTLY this simple question:

What has more probabilities of a 10x (in price and adoption) in the next following years Bitcoin or silver?

Don't try to evade the question talking about costs of production, pyramid of money, bad actors, manipulation, pump and dumps, decentralisation, blah blah... Just an honest answer to my question.

Bitcoin is similar to the SETI program; neither has any reason to exist but still do for some reason.  Bitcoin centralized immediately after release making it totally pointless which is easy to tell from the numbers in your example, and for SETI:

1)  Highly generous Drake-style equations would have life something like 1000 lightyears apart at best

2)  More realistic ones would probably have something like 1 species per galaxy

3)  Radio waves follow inverse square law (1/d2) so they'd need to be blasting radio waves with dyson sphere style power

4)  They probably would not even use radio waves

There are less than 150,000 addresses with more than 10 BTC.

I think there’s probably less than 15,000 people in the world that have more than 10 BTC.