Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16372. (Read 26712842 times)

 

Haha very interesting

"...the sovereign state's right to issue currency...." 
Just made my day man 

Either way, I hope you are putting your money where your mouth is - because you seem to be hedging too much in the down direction (or hoping - and spouting out certainty FUD in order to attempt to get your down wish to come true), and it could be a painful lesson.

My point is that nothing is certain in bitcoin whether that is down or up, and I am hedged in both direction, even though I currently conclude that our odds for 15% up are a bit greater than our odds for 15% down (maybe 55% for up and 45% for down?).. I am not going to bet too heavily either way (even though of course, I have money invested in bitcoin, so of course, i am better off if the price goes up.. which seems that there continues to be ongoing upwards price pressures)

Look at you, white knighting as well with your royal "we" references regarding the sentiments of the supposed helpless majority..         Welcome back, you fuck!!!   

What an effed-up fact salad.

Don't let the door hit you in the back as I hit the "ignore button."

I know where I think we are

Someone has quoted me out of context and twisted its original meaning.

I strongly believe that decentralization is only the reason why bitcoin keeps coming back like a phoenix and not dying some horrible death a long time ago.  So even if some people believe that decentralization is impossible in the end, bitcoin should still try everything to decentralize as much as possible.  It's true that most revolution fail and odds are stacked against bitcoin.  But when revolution do succeed, whether it be communist revolution, American revolution, or some long lasting Chinese dynasty getting overthrown, the effects are felt for decades, if not centuries. 

A very good article today in Coindesk also argue for this point, to become "money", bitcoin still has a looong way to go, and being able to resist censorship is the reason why it still has value.

https://www.coindesk.com/economic-case-conservative-bitcoin-development/

If something like SX2 coin succeeds, it will just tell the banks and government around the world that such attack vectors works, and conceivably, before long, we would have something like this,

"We are pleased today to announce a new "Plaza Accord" for the Bitcoin ecosystem.  A variety of largest exchanges, service providers, and hashing power has signed on for a hard fork to increasing BTC adoption around the world.  At our side is the esteemed Jamie Dimon, CEO of JPM, joining as authorized participant for the new BTC ETF.  They will also serve as an exclusive liquidity provider and market maker.  We are also honored to have PBoC, who recently banned and nationalized mining in China, contributing
an estimated 70~80% of existing hashrate to the new fork which will double the coin cap to 42 million and allow miners to receive block reward indefinitely.  As a friendly reminder, only hashrate matters in the bitcoin ecosystem and not users.  There would also be no replay protection for the legacy chain and PBoC fully reserves the right to 51% the minority chain at any time.  So while anyone are free to run their favorite version of code, we do have your best interest in mind when we suggest that the users "upgrade" to the new permission-ed and federated chain for your economic welfare and best user experience.  Thank you."

Did not mention replacing the USD reserve anytime soon -nor any greedy fantasy.

I believe in market cycles and hype cycles... and I do have a pretty good idea how markets and supply and demand work btw mate  )    (and potential demand is a factor- but its not how markets work solely per se latent and effective demand both do play a role, sometimes rationally and sometimes not, sometimes there is equilibrium and sometimes its out of kilter - demand is affected by many internal and external factors including but not exclusively supply, sentiment, milestones, external market  forces, competition, hype cycles, regulatory clarity and.....market accessibility etc etc)

I already said we could retest recent lows.. and highs and nor was I surprised when we had the recent 30% + drop - not one bit.... and I have said on many occasion I expected volatility.

I won't be surprised either when larger significant sums flow into the market (and ecosystem)over the next year/eighteen months either (I have my reasons) which will have an effect on said s&d... 


I still think overall price is out of kilter atm- as the next year to eighteen months will show - I have little doubt.

I just don't see an extended bear market- I think BTC price is undervalued for where the ecosystem is at - though the market is the market and the current price is the current price ...for now.... time will tell.  

Enjoy the volatility

John McAfee in Bitcoin is kind of the same problem the alt-right has, a leaderless organization/movement to expel Jewish usury parasites off the backs of humanity.  Since there is no formal structure, a gay, Jewish guy named "Milo" just walks up and says "who's the leader around here?  nobody? ok, looks like I am.".

Undervalued compared to what. Sure I can say that BTC should be worth 1 million$ given how half of the world could use it in the future, but that is not how markets work.

Markets work on  potential demand, potential as in it is likely that it will happen, not just some fantasy of some greedy traders. Many people say that BTC will have global dominance and replace the USD as reserve currency. I think those goals are foolish to consider, at least in the reasonable future anyway.

So those things are not priced into the market if we assume that most market participants are rational in the long term ,but not in the short.


What should be priced in is the irrational imaginations of nearby effects. And we just had that, either the China FUD will cause irrational panic, or the recent Segwit irrational hype is about to pop.

Either way, I see BTC going south.

  the similarity is striking now that you come to mention it!

MacFee is what Ver will become ... coked-out nutcase with tied-died hair. Take a look at rake of head, ears, nose, body-posture is scarily similar ... is Ver MacFee's illegitimate kid from another mother or something!?

Jihad is toast now anyway, unless he really is Communist Party plant or he wants to defect to Tokyo, and these asshats can go back to being clueless evangelists.

Ok, you win. Put me on 7th of January, 2018.

I think it will be sidelined until them, going up and down in the 4000's.

 Pro Tip:  "ignore."

The more I read r0ach talking about silver, the more I want to buy litecoins.

It's like he is doing some propaganda... have Lee paid him for it?

I've seen that episode. That's the one where there's a comical misunderstanding, but it all gets sorted in the end. Funny and morally instructive.

Go down. Hard. To 3k.

 

There are indeed rumours of LN activating (market begun pricing this in)

There are also rumours that BTC is going to be worth more in 2 years time than it is now....

Funny thing "value" and "worth" and"price"

Funny thing indeed.


There already is an actual demand for BTC imo - there will be a greater demand -no doubt the price will over shoot -and correct - many times-  markets do what markets do - then  ratchet up to new levels

I don't discount  another retest of recent lows...nor the highs.

Currently still undervalued IMO