Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 18433. (Read 26711956 times)

Good morning Bitcoinland.

Look where we are this AM, back to $666.



Maybe all those little "Satanist" kiddies are right, LOL. At least it's higher than $420. 

Personally I want to see $9999. 

does it really make any difference if the next possible outcome is chosen by true randomness or a predetermined set of random?
the end result is the same, we get an immutable chain of events which no one can really control.
i guess your suggestion that the future cannot be predicted because of the true randomness factor.
it would be interesting to understand how they have determined that true randomness actually exists...

This.


But Trump will win anyway... And they will blame Trump for reaching 35-40 trillion debt... And Hitlery will step in after almost 2 years or so to take the reigns and blame Donald for everything!

I know there's a traders saying that the price of everything will crash during the summer and start rising again in autumn. Sadly it doesn't always work out like that though. July was the summer low point in 2013 after the April high of $230. The price gradually rose after the July low until October. In the following November there was the ATH.



Sell in May and go away doesn't always work.

This year you could have sold at $450 in May, then watched the price go to $800.

Since we've had a normal summer lull I'm guessing finex longs will crash sometime August. Just put in your low bids and reap the rewards.

Same here. But no chance.
Even a modest drop meets strong demand.

I Second. But maybe under 5 years not one.

Unfortunately, quantum mechanics and a hundred years of thought and experimentation have laid waste to determinism in the way you're thinking.
At any 'point' in time, there are many future possible outcomes for the next cloasest future 'point' in time. All outcomes have known probabilities. One such outcome is randomly chosen from an observer's point of view.
That is true randomness btw - not just a lack of information.

Oh look here we have the BTC doomer who thinks he's so well educated and brilliant and everyone else is just dumb to believe BTC could ever succeed. Well sorry bud but you were completely wrong about BTC earlier and even more wrong about LTC or PPC when you thought it would pump when BTC would pump before halving. Sorry, but your opinion doesn't hold much value considering your past failed predictions. As a global currency Bitcoin right now is not mature or good enough, but to boldly state that some other cryptocurrency will get there before Bitcoin does is quite a statement. A real currency doesn't need some outside mechanism for value stability, it needs liquidity and enough people trusting and using it as such. Gold and silver have done fine as a store of value for ages without such a mechanism as well. Paper currencies however have failed again and again to hold their value over time. So you're seeing this all upside down. Your hopes of some mystical superior cryptocurrency coming up are more delusional and cultish than the hopes of bitcoiners you like to criticize so much. We'll see who the future will proof right, hope you will still be here in a few years from now to admit you were wrong or right. I know I will.

I'm liking the amount of FUD. Hoping for some panic. Just a few days is all I need.

We live in a world where GBP and CHF can do +/- 15% swings in a day.... so...

I think that's very possible but it would also highlight the absurdity of the alt market and market cap.

Say the Poloniex maniacs sunk their teeth into Wankcoin. Let's also assume someone held 95% of it and wasn't letting go. Wankcoin gets a market cap of $15 billion within a few weeks.

The Bitcoin killer has arrived. Except there's no GUI wallet. No lightweight wallet. No mobile wallet. No paper wallet. No ETN. No GBTC. No localbitcoins. No more than a handful of exchanges. No payment processor. No way to buy it with a debit card or bank transfer.

No one's battle tested it as all transactions are purely to the exchange wallet and once it's in there it never leaves. No one's bothered to look into how it's going to scale. Why bother? We're getting RICH. Someone holds 95%? STOP FUDDING.

In theory infrastructure could be easily swapped over. So industry hops on the bandwagon, says they never liked that Bitcoin shit anyway so ner and starts the migration. In the meantime the 95% holder does what any good alt market does and rapes it or a glaring technical fault emerges.

Suddenly Bitcoin has lost its sheen and Wankcoin has made everyone look like an utter prick off the back of one giant pump. To the outside world it's just proven exactly what those who were paying attention initially thought. It's amateur hour based on infinitely replicable code  

Even KZT or RUB are more predictable, with less volatility. Try running a business, that is solely dependent on bitcoin. The prices, the wages, utility costs all planned based on value of bitcoin and see how far you can go. There is a reason why almost all the merchants need bitpay - because they offer the buffer of USD value stability that will make doing business possible. In my mind, bitcoin isn't actually a real currency because it lacks a mechanism for any value stability. It's just a technological gimmick that brought forward an idea how things could be in the future, when cryptocurrencies will actually become practical tools of finance.

You hope that bitcoin will trend upwards in the future. And sorry, but the hopes of bitcoiners aren't exactly solid enough to make a good store of value asset.

Post of the week.

Bitcoin is fairly "predictable". It's long term trend is upwards and its buying power increases in terms of tangible assets. I can't say the same for fiat currencies

Hard currency - predictable future value
Soft currency - unpredictable future value

Inflation is totally OK with trade, if it is predictable. Inflation/Losing value doesn't make a soft currency, but it's unpredictability is what makes a currency soft and low quality. Just like with bitcoin is a soft currency with a highly unpredictable future value.

If the currency loses value it's acceptance is reduced for the purpose of transacting. That's why most national currencies can't be used for international trade and global commerce is conducted in hard currencies.

You can't compete with the paypal/$ combo if you are not superior in that regard.

A store of value currency, that's value is based on artificial scarcity is a foolish concept. Best store of value is in goods, that actually are scarce, and therefor hold solid value. If store of value is mostly based on speculation and faith, then it's too fragile to be a proper place to store value, because those 2 things are anything but predictable and static.
Currency itself hasn't been created for storing value, but to transact value and by that help the dynamics of economy. It's the dream of fat lards, that currency would hold or even enlarge their wealth, while they sit on their ass. Economy, nor even evolution doesn't work like that. Fat lards won't get rewarded for their laziness and the basic principle of currency will remain - your wealth will shrink if you won't keep it moving and your wealth will only enlarge if you work with it by developing new economic paths.

I think that you are correct that if segwit and lightning network come out, and then there appears to be some kind of change that is needed (including an immediate increase in the blockchain size limit), then Core would go along with such so long as it seems to have some justification. 


Your other point about software geeks needing time is valid also, because not only does code need to be written and tested, there needs to be some discussion and vetting that allows for objections to be considered, if there are any objections. 

I don't really see bad faith with Core, and I understand if some of them can be a bit paranoid about potential government or banker shills attempting to infiltrate their ranks.. and I suppose that is an additional reason that they like to vet code and to go through processes to attempt to assure that there is not some kind of bitcoin sabatoge attempt which could really detriment bitcoin and its value if they were to allow for the entrance of some security bug that caused the stealing of coins or some other dilution of coin value through software or hacker.