Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 4750. (Read 26609921 times)

Explanation

Sussssh, he's hunting cwyptos.

Debt default is deflation, it makes the worth of money that actually exists worth more I think.  I agree they'll end up turning it to inflation but I doubt we get an easy road where its only one side seen, I think we get both and a Richter scale graph where volatility has us swinging to both inflation and deflationary effects.   Its the FED who wants to insist they can ensure a smooth market where only one side occurs, supposedly they have proven that idea true but working wages of most common workers are now worth less under their tenure.

ya think?


dude... I often wonder wtf is your purpose here?
The joke has long worn off.
I know, as everyone else does who frequents this thread, that you are packing a shitload of bitcoin, so what gives?

Explanation

Nah, this takes out Tether and finishes the collapse of bitcoin. Bitcoin below $10k within 1 year. Completely evaporates for all practical purposes within 2 years. This was the confirmed Chinese news we've all known was eventually coming.

I think OOM may have tried to use the term "pyramid scheme" in a different way than what you're suggesting. In any case, I agree with your statements quoted above. I don't like pyramid schemes (such as AmWay, and many others), and would never associate Bitcoin with pyramid schemes in a discussion with newbies/nocoiners. If anything, they are usually the ones who bring the pyramid scheme framework in the discussion, and falsely claim that Bitcoin is a pyramid scheme. In such cases, I try my best to explain/prove to them that Bitcoin is NOT a pyramid scheme, and is also NOT a Ponzi scheme (another term they often associate with Bitcoin). I try my best, but I fail miserably in most cases, it seems. They just don't get it, or they don't want to get it, or they think they get it and don't want to listen to me preaching to them about something they think they already know. Most of them seem to have already decided that Bitcoin is a scam...because the TV told them so.



I think OOM puts it quite nicely in his post above (which I snipped in the interest of readability). I think most people would treat anything as revolutionary as Bitcoin with a negative attitude. It's a natural reaction. I don't blame them. I just felt the need to "plant the seed" so to speak, and let it grow, or not. In most cases it dies. Maybe out of 30 people, one would buy a small amount of BTC, two would buy shitcoins because "Bitcoin is too expensive" and the rest would just dismiss it. Well, if you think about it, Bitcoin has shaken the foundations of a monetary system that all of us grew in and were brainwashed to trust and accept as the only way to handle monetary wealth. It's so deeply embedded in our brains that it's almost like a natural reaction, a millisecond response as OOM puts it.

"Bitcoin? Be your own bank? That can't be right! Surely it's a scam! Seed words? Is this some kind of word guessing game? What? Put my next month's paycheck in Bitcoin? Are you insane? And get what? QR codes?" That's more or less what I get. Or used to get. Because lately there is noticeably more interest in Bitcoin, and those who laughed and joked in 2015 are now asking seriously. My response now is "Google it". Not to punish them or anything, but because I just don't have the time and energy for this kind of thing anymore. After all, maybe that's the way it should be. Darwin, nature and all. Some will get it, some won't. That's life. I feel I did my part in spreading the word when I could, and I still do if I see really genuine interest.

I don't know... Being a Bitcoiner has been the best thing that's ever happened to me, certainly financially, but also psychologically. It's a weirdly satisfying, pleasantly powerful feeling that has got to be felt to be appreciated, as I'm sure many WOers would confirm. And I can't even begin to imagine how it will feel 5-6 4-8 years from now (a HoDLer can only count years in multiples of 4...)

Explanation

The Chinese govt worked very hard over the last ten years to stoke FOMO in their middle class and turn them from primarily savers into primarily consumers. They did this by issuing massive amounts of debt and building out consumer-driven infrastructure, i.e. "build it and they will come" with shopping centers, restaurants, hotels, high rises, venues, gambling, etc.

Some of it worked: the Chinese middle class has more money now, and they like to flex by shopping shopping shopping. Esp high end brands (think Nike, Calvin Klein, Prada, D&G, etc.). The middle class also increased their personal debt from 0 to something like $6K per household.

But much of it didn't work: the Chinese middle class still has little desire for buying houses (i.e., mortgages), cars (loans), expensive vacations, high end watches and jewelry, and all the little China-made crap consumer goods, etc. compared to Western countries consumption of those same things. Also, the average middle class Chinese family still has more savings than the equivalent Western family.

The biggest failure was not stoking enough internal consumerism to levels that match Western counterparts. As the rest of the world economies deflate, they desperately need their internal velocity of money to increase exponentially to compensate. So far, a big failure.

He knows what he’s talking about guys. Seriously, Will Clemente is a good follow. That kid is going places. What were the rest of us doing at 19? Good luck to him I say.

Explanation

That dude really is a "kid" too.. I think he's a 19 year old whiz-analyst... quit school to work for some analysis firm or something...

Explanation

One guy's supply shock is another guy's macro supply squeeze..


Go figure...   





Oh?  It's the same guy.

 

It's long overdue. We should be at around $60k by now right under the previous ATH. Price manipulation at it's finest.... 

Explanation

^ I actually catch myself more often thinking what china actually wants to achieve, lately.
Seems they are blindly trying to fix (economic) holes, not aware of the medium- and long-term consequences.
Short: "How to fail".

EDIT:
See, see... Bitcoin knocking at the € 41.000 door again.
Shouldn't take long until "the market" will open it  

EDIT2: Of course, China may get a grip on their economy if they radically change it. They held the most powerful tool in their hands already, then they banned it, because they were too dumb to efficiently use their energy resources to get a significant share. But when you look at their totalitarian leaders, it was best this way for the rest of the world.

Also, these are a nor more than handful of El Salvadorians.
MSM: "The people of El Salvador..."

We call this "Bullshit Bingo" hereabouts.


Merited, mainly because it's so sadly true and ironic at the same time.