This thread has become painfully predictable.
Unless Rptellia, Aminorex, Smoothie, Magic Mexican, Adam, Richy T, Bitchick/husband, Jimbo Toronto, Seleme, eurotrash, Fonzie and a few others I am forgetting write something it is the same predicable shit by the same predictable people. My ignore list is through the roof.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28171. (Read 26710675 times)
April 15, 2014, 10:12:53 PM
April 15, 2014, 10:00:16 PM
April 15, 2014, 09:54:52 PM
Huboi order book looking quite skinny too. and some big bids were pulled. not all roses.
Heck, the bulls already drinking champagne, so why would they worry?
A champagne shortage would worry me, but I'm a raging alcoholic so that's neither here nor there.
April 15, 2014, 09:53:16 PM
Bitfinex and stamp are coiling.
April 15, 2014, 09:46:18 PM
Huboi order book looking quite skinny too. and some big bids were pulled. not all roses.
Heck, the bulls already drinking champagne, so why would they worry?
April 15, 2014, 09:38:43 PM
that's nice dinosaurs in forming there tera. 
April 15, 2014, 09:36:26 PM
If Greenspan gave the power to the private sector, then it's logical that those who are at the top of the private sector have the the most important vote on things.
They have the most important vote on things now. Who do you think vets the candidates for high office? Who do you think funds campaigns? A State is by it's very nature a monopoly on aggressive force. Governments always and everywhere serve to concentrate power in the hands of the already powerful. Even democracy by it's very nature is the dominance of the minority by the majority.
There can be no stable distribution of power with the existence of a monopoly of initiatory violence. Everybody struggles for control of the monopoly and the people with the most resources and power almost always win. Even when they lose, the loss is only temporary or new oligarchs move in.
They only stable long term viable solution is to distribute governance. Decentralize. Concentrated power is bad no matter who has it. It corrupts when it it not possessed by the already corrupt.
I think that it's very hard to decentralize power because of human nature. If you put 10 people together to do a task, then soon nature will do it's thing and some will automaticly lead and some will follow. I think that the main key here would be to block options, where people could obtain power not by natural selection, but by deception. Violence is also strongly rooted in human nature and it takes a good violent person to be able to take down a bad violent person. I think that the main key here is to root out general corruption and to nurture virtues.
I have had an idea that it would be great if there would be a system where academic accomplishes would actualy give different people different rights to vote on different choices, that the government has to make. The internet could actually enable this method to be efficient enough. You needed more centralization before the age of internet, because you can imagine the inefficiency when an interviewer would have to visit people door to door, just to get their votes on different everyday subjects. But with the internet this could actually work. It would be great if you could concentrate the smartest people on every subject and let them make the best informed decisions possible on the subject they know best.
April 15, 2014, 09:26:57 PM
April 15, 2014, 09:19:39 PM
Bitcoin to governments is like chicken pox to native Americans.
April 15, 2014, 09:14:43 PM
market p0rn?
April 15, 2014, 09:11:26 PM
If Greenspan gave the power to the private sector, then it's logical that those who are at the top of the private sector have the the most important vote on things.
They have the most important vote on things now. Who do you think vets the candidates for high office? Who do you think funds campaigns? A State is by it's very nature a monopoly on aggressive force. Governments always and everywhere serve to concentrate power in the hands of the already powerful. Even democracy by it's very nature is the dominance of the minority by the majority.
There can be no stable distribution of power with the existence of a monopoly of initiatory violence. Everybody struggles for control of the monopoly and the people with the most resources and power almost always win. Even when they lose, the loss is only temporary or new oligarchs move in.
The only stable long term viable solution is to distribute governance. Decentralize. Concentrated power is bad no matter who has it. It corrupts when it it not possessed by the already corrupt.
April 15, 2014, 09:10:56 PM
New ATH by June 1, 2014
Just because.
Just because.
April 15, 2014, 09:09:17 PM
re-quoting for posterity - his cracks me up every time "The world was running low on scarcity, so we had to create some"
Bitcoin burns greed. Greed is the fuel for its engine. All that greed will be consumed and transmuted into a new thing: scarcity.
Bitcoin is commodified scarcity. The world was running low on scarcity, so we had to create some. Previously we faced peak scarcity. Thanks to bitcoin, we now have enough scarcity for everyone.
Bring on the greed. Come at me bro. Bitcoin will use crypto fu and redirect that negative energy into pure positive scarcity.
Bitcoin is commodified scarcity. The world was running low on scarcity, so we had to create some. Previously we faced peak scarcity. Thanks to bitcoin, we now have enough scarcity for everyone.
Bring on the greed. Come at me bro. Bitcoin will use crypto fu and redirect that negative energy into pure positive scarcity.
Agreed. Screw T-shirts; I want a flag with this on it.
April 15, 2014, 09:07:33 PM
It seems so recent that all the talk was about BTC gravitating repeatedly towards $666...we need to get back to there 
I agree... and that $666 pricepoint felt low at the time...
The geometric mean of the cycle high/low is now $628 which is where it is most likely to stabilize for a while.
April 15, 2014, 09:06:56 PM
There is only one flaw with this reasoning...with only a 5 Billion dollars is peanuts for these countries...if China or Russia or the USA for that matter wanted all the Bitcoin there wouldn't be much we could do about it.
There are no counties that seriously give a shit about Bitcoin because if they did none of us would have any right now.
There are no counties that seriously give a shit about Bitcoin because if they did none of us would have any right now.
I agree with you there that no country is taking BTC serious because it isn't a serious competition as an currency.
I'm not telling here that China govt wanted bitcoin, I'm just telling that couple of half-witted Chinese officials thought that it would actually help them fight against the dollar as the dominant reserve currency. Later smarter people explained to them that it isn't so, so any government support was pulled.
China was pro-bitcoin for a short period because of the stupidity of the few.
Probably the reason governments don't really care about Bitcoin is because when all mining is centralized by the end of the 2015 they can simply expropriate the facilities in the name of national security.
BTC would actually pose a threat as a currency when it wouldn't need services like bitpay to enable doing business by the support of fiat. BTC is useless without fiat, so it can't really pose a threat.
April 15, 2014, 09:04:55 PM
Bitcoin will fail due to its natural scarce nature.
It WILL not work:
-as mean of transaction
-store of value
If the technology is so unique and outstanding, the scarce nature
Will ultimately destroy it.
The value will be zero.
Wake up!!!!!!!
re-quoting for posterity - his cracks me up every time "The world was running low on scarcity, so we had to create some"
Bitcoin burns greed. Greed is the fuel for its engine. All that greed will be consumed and transmuted into a new thing: scarcity.
Bitcoin is commodified scarcity. The world was running low on scarcity, so we had to create some. Previously we faced peak scarcity. Thanks to bitcoin, we now have enough scarcity for everyone.
Bring on the greed. Come at me bro. Bitcoin will use crypto fu and redirect that negative energy into pure positive scarcity.
Bitcoin is commodified scarcity. The world was running low on scarcity, so we had to create some. Previously we faced peak scarcity. Thanks to bitcoin, we now have enough scarcity for everyone.
Bring on the greed. Come at me bro. Bitcoin will use crypto fu and redirect that negative energy into pure positive scarcity.
April 15, 2014, 09:03:44 PM
First, where the hell did this myth come from that it is a good thing when a currency is tied to gold.
From numerous members of the Austrian School of economics (Mises, Hayek, Rothbard, etc). Alan Greenspan was also a "goldbug" back when he was an acolyte of Ayn Rand.
The central premise is that Central Bankers cannot know how much liquidity the market needs because they don't have the ability to collect and process the information that millions of local buyers and sellers have. The natural scarcity of gold prevents them from injecting too much liquidity, which causes an unsustainable boom, which causes a bust.
Busts in fact are corrections, times where capital is transferred from incompetent managers to competent managers in order for that capital to be used in more productive ways.
In short: Central Bankers with good intentions screw things up. Central Bankers with bad intentions screw things up. The free market also screws things up, but not as badly as Central Bankers do.
I am even more liberal (in the economic sense) than the goldbugs. I think there should be no legal tender and that the free market should determine what the most liquid commodity is, and we should call that commodity "money".
I have to say that you just wrote one of the smartest replies, that I have received on this forum and I agree with what you're saying.
April 15, 2014, 09:01:34 PM
April 15, 2014, 09:00:19 PM
April 15, 2014, 08:57:49 PM
There is only one flaw with this reasoning...with only a 5 Billion dollars is peanuts for these countries...if China or Russia or the USA for that matter wanted all the Bitcoin there wouldn't be much we could do about it.
There are no counties that seriously give a shit about Bitcoin because if they did none of us would have any right now.
There are no counties that seriously give a shit about Bitcoin because if they did none of us would have any right now.
I agree with you there that no country is taking BTC serious because it isn't a serious competition as an currency.
I'm not telling here that China govt wanted bitcoin, I'm just telling that couple of half-witted Chinese officials thought that it would actually help them fight against the dollar as the dominant reserve currency. Later smarter people explained to them that it isn't so, so any government support was pulled.
China was pro-bitcoin for a short period because of the stupidity of the few.
Probably the reason governments don't really care about Bitcoin is because when all mining is centralized by the end of the 2015 they can simply expropriate the facilities in the name of national security.
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