Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 14632. (Read 26623394 times)

 

$1O,OOO BTCBTCstreet price*
#checkmate

There are so many levels of bitcoin including but not limited to technicals, socio-economics, political, financials - including market performance, relations to other projects other assets and other crypto projects, and even when you believe that you might begin to grasp some aspects of bitcoin specifically, there evolve more aspects to learn whether those are changes or just changes in the relationships.

Even history changes depending on who is telling the story, so we are battling actual facts and made up shit... such as the BCH story that they are the real bitcoin.



OG  = original gangster

I think that the label is relative because in part it can signify how long you have been around the space and it can signify how much you know or how involved you have been.  So, maybe you and I have been around the space for a similar time, but then newer comers might consider us to be OG, but we might not consider ourselves to be OG relative to folks who got in earlier or relative to folks who may have been more involved in the space.  I have heard some folks claiming to be a kind of OG because they got involved in 2016, and since things move so fast, that could be considered OG to someone who just got involved in late 2017 or early 2018.

The real enemy is the sheeple and yet also the customer

The real problem though is that the idiots don't understand the importance or decentralization, lack of a central authority, deflationary monetary system, developer talent, trustless, and so on. Bitcoin is the best coin without a doubt in my opinion. But, how in the fuck can we get mass adoption, when most people still think the media, and governments are the good guys. Crypto will get mass adoption, but, I fear that it will be a bullshit coin supported by the banks, media, and governments.

I agree, completely

just mentioning the enemies tactics, usually successful

yeah bitcoin just seems too damn strong a network to change though



and the attacks begin again, just reading this

https://www.rt.com/business/418390-france-germany-bitcoin-clampdown/

From the enemy themselves the Bank for International Settlements (BIS), direct from the IMF

Pen's of steel!

And green dildo's, so far so good quite plenty in the last 24 hrs.

In that case, bitcoin was fucked from day one. 21 million coins for the entire world economy was never going to work. Most world citizens (>99%) have never had $8750 at one time in their lives. They will never buy bitcoin at that price. They will buy Ripple for $1 instead.

EDIT: Yes, I know they are divisible but the average idiot can't comprehend that.

It's going to take a whole hell of a lot longer than 10 months for all of these things to play out.

I agree with you mymenace that a lot of these things are happening and a lot of like things are going to happen in the crypto space and maybe even attempts to target and to undermine bitcoin, but even if a lot of these things happen all over the globe, it does not result in bitcoin successfully being stagnated and repressed, even though there might be some shorter-term and localized successes that might only last a short period of time because bitcoin is all over the fucking place, and there are a lot of governmental difficulties to coordinate, even if BIG ASS financial players attempt to coordinate their attacks on bitcoin, even the BIG ASS financial players are not sufficiently unified to pull off some kind of successful unified repression of bitcoin on a world-wide basis...

TLDR - bitcoin has become too BIG, too decentralized and too strong to kill...  the toothpaste is out of the tube, and it's like trying to kill the internet; good luck with that..

Before people would only pay attention to BTC/xyzcoin trading pairs.

Now we have the copycat namesake and all BCHBCCBcash that is being used to move and pump/dump between alt trading pairs.

BCH and BTG are like us creating another USD and having special interest groups declare it legal tender.

This "trend" needs to be addressed much like fraudulent ICO's have.

This really falls on the responsibilities of the exchanges.

Doesn't matter what I think, and as you said "people who understand the value of bitcoin". Newbies don't understand shit, but, they do understand metrics like market cap, so it will hurt bitcoin. If bitcoin is not number one on the shitty marketcap metric that will hurt bitcoin adoption plain and simple.

What do the advertisers say? "you don't need a good product, just good marketing"

The real issue is how Bitcoin cash Bitcoin gold are being used to trade between cryptocurrency pair to prop them up. Pay attention to dash zec ltc eth.
Every time one of those pairs to BTC have lower trading  volume is being used to keep for instance ETH/BTC at a target of 0.0100 when BTC recovers then ETH/BTC goes past that 0.0102 and then those gains get drained and put into zec with the latest move.

I largely agree with you, but I really don't think that alts are as negative as you are making them out to be because they both cause a stagnation of bitcoin's growth but they cause fuel for bitcoin's growth too... both of these dynamics are happening at the same time... and the honey badger does not give a shit.   

Yes.  I think that the snowball effect analogy is a good one, yet I don't think that it matters that much whether bitcoin gains or regains dominance because in the end bitcoin is going to remain king because it's fundamentals are the strongest....

I think that one decent side effect of the alt coin craze involves the kind of diversion effect that it has in terms of being able to bring a lot of capital into the crypto space that ultimately is going to allow bitcoin to grow and grow and grow without bitcoin having to serve as the main focus, whether it is regulations, innovations or even investment, and a lot of that money is going to flow back into bitcoin in one way or another and support the bitcoin ecosystem, one way or another even while many of those other coins are simultaneously leeching off of bitcoin's security and strength of its infrastructure.

I may be contradicting myself because in the short run, I am suggesting that we should not give too many ratts' asses about bitcoin's dominance or whether there are various flippenings, ripplings, cashenings, dashenings, etc... so in the short run confusion and even diversion of funds into a variety of other crypto projects, but in the longer run... maybe 30 years.. good money is going to flow into the good asset, which is going to likely remain bitcoin based on bitcoin's security and longer term strong foundations... there may be one or two others, such as Monero that also can keep a decent foundation... but coins like ETH might have some difficulties keeping up because of their being so spread out and likely going to lose money through their many security lackings... and I am surprised that they already have not been brought down a few times by some of the bugs and the fact that so many scam coins have been using them.  Coins like ETH are also going to have centralization like difficulties that may cause regulatory issues, unless they can increase their decentralization of their quasi-centralized aspects.. but they don't seem to be heading that way.. especially talking proof of stake mumbo jumbo baloney, which does not seem to help with centralization aspects of those projects/coins.

many predictions out there that 'dominance' will fall to 18-22% in 2018 because
greed/newbie speculators/organised pumps/airdrops'n'forks/direct fiat-alt pairs on many exchanges incoming

ready for other stupids: fake news (Peter Woolly is a sex pest(video proof), Maxwell ate my hamster). BCH at 0.45. Lightning not perfect and it's July already (Sept, Nov). Precious metals minor pump. ICO prosecutions=bitcoin is bad. China bans. UK to propose btc is 'against national economic interest' therefore terroristicalist. ETH hacks. Onramps 'hacks'/scams/regulation. No global meltdown in Spring. Or Summer.

we: 'really?'

Working on that on almost a daily basis since Q3 2013. And admittedly still barely have a clue. But since it glows in the dark I can't stop looking at it and investigate why.

https://www.urbandictionary.com/define.php?term=OG does not help me much here. What?

Crypto War successful and ongoing (block size, transactions, hard forks, media)

create less reliance on bitcoin and more on centralized tokens

pump alts, sell tokens to newbs

create national tokens (russia coin, Petro coin etc), pump for newbs

sell into bitcoin - big pump (Huge) before next battle on bitcoin exchanges (corrupt, broke, no reserves, multiple exchanges as well as other btc scams)

legislate exchange and ban btc to promote national crypto

btc crash and they hope for good

lets see how it all pans out (within next 10 months)

Market cap and bitcoin dominance can be a misleading indicator for all the reasons that you already stated... so in that regard, people who understand the value of bitcoin are going to realize that bitcoin is the one to buy rather than gambling on those many other alt coins - and useful also NOT to get distracted by coinmarket cap, at least in terms of informing you about the dominance of BTC's fundamentals in comparison to any (and all) of the other coins.

I think alts are a disease and we won't have another 10x or 100x increase until the alts largely die off. Every time bitcoin pumps and the alts pump even harder, it is like cancer overtaking the body every time it starts getting healthy. This sickness will have to run it's course and when the disease has been cured/eradicated, bitcoin can finally grow to it's true potential. This will probably take a few more years.

If a big crash happens. They might just drop off one by one, only to be replaced by more new entrants.

This effect is bound to accelerate with the growth of the overall crypto market. The more people buy into Bitcoin, the more people will find interest in altcoins and the larger the potential volume that can trigger growth in altcoins will become. It's a snowball effect.
A question that I find interesting is whether or not Bitcoin will regain dominance massively once the "big crash" comes and useless shitcoins as well as all the ponzis and scams get obliterated.