This is probably the last thread to get any support for altcoins (aka shitcoins), but not for lack of trying.
Still, to me there is a key difference between investing (as a store of value) and using it as a payment system.
Personally I think using altcoins as a pure payment system for small transactions is better than using something like PayPal (or Venmo), because at least altcoins are decentralized for the most part, and some of them tries to improve privacy.
I really like the lightning network (LN), but have to admit also using Litecoin for payments especially after they introduced MWEB (optionally making it more like cash). If using lightning or altcoins fail I try to resort to cash (fiat) but it slowly gets harder and harder to use, especially in Europe, perhaps in the western countries in general, last resort is to use something like Credit Card or pay direct via bank transfer by scanning QR code using phone app.
What do you guys think about payment systems? Shitcoin worse than Credit Card?
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 559. (Read 26711867 times)
August 08, 2024, 01:21:04 AM
August 08, 2024, 01:01:16 AM
August 08, 2024, 12:58:47 AM
Give me a litre of coffee this morning please.
August 08, 2024, 12:31:57 AM
seems the former 56k 57k support area is now resistance
will prepare my anus for more pain...
Cycle theory, fwiw, says at year's end we should be at around 70k. Hope we get there earlier though
will prepare my anus for more pain...
Cycle theory, fwiw, says at year's end we should be at around 70k. Hope we get there earlier though
You seem to be way too premature to be considering $56k / $57k as resistance.. but hey whatever, you do you. I don't claim to really know.
Regarding your high for the years end... You bearish fuck!!!!!!
Here is some speculation:
Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.
Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.
Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.
If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.
TL;DR just dubious speculation as B. Cowen calls it.
Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.
Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.
Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.
If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.
TL;DR just dubious speculation as B. Cowen calls it.
That is some real moon math... or is it the opposite of moon math?
We need proudhon's help..
unless...
Proudhon?
Is that you?
August 08, 2024, 12:01:14 AM
August 07, 2024, 11:57:26 PM
Has not been discussed here for a little while, so I don't know how many people have been keeping an eye on the transaction fees, but currently it costs only 3sat/vB.
Next time there is some kind of transaction fee crisis, please remember all the ones that came before and understand that the solution to high fees is high fees. The reason crap like inscriptions never have a long term impact is because they have no value, however blockspace does have value, so eventually the fools transacting crap like inscriptions run out of money. Same for spam. High fees should be embraced, not feared, a free market capitalist system, ensures any malinvestment (inscriptions, spam, etc) will be expunged from the system eventually because making a loss forever in a finite world is not possible. Only the transactions that have real value will survive.
Next time there is some kind of transaction fee crisis, please remember all the ones that came before and understand that the solution to high fees is high fees. The reason crap like inscriptions never have a long term impact is because they have no value, however blockspace does have value, so eventually the fools transacting crap like inscriptions run out of money. Same for spam. High fees should be embraced, not feared, a free market capitalist system, ensures any malinvestment (inscriptions, spam, etc) will be expunged from the system eventually because making a loss forever in a finite world is not possible. Only the transactions that have real value will survive.
You are so correct somac, yet it surely can take so much time to play out, and sometimes it seems to be taking forever to play out, but then who can keep paying those high fees.. They kind of peter out when they realize that they cannot recoupe the money from the fees to when they were largely selling crap that they were trying to proclaim to be scarce, but there is so much of the supposedly scarce crap that it took some time for the market to figure out (or to really show) that it really was crap..
a free market capitalist system,
In a free market capitalist system, high prices mean efforts are made to meet the demand. What we have is centrally controlled artificial scarcity.Look who woke up on the wrong side of the bed.
The disgruntled exaggerating complainer, big blocker Richy_T is back..
hahahahahaha
1) You really consider bitcoin to be centrally controlled? not sure how that can be addressed exactly. If bitcoin were really to be centrally controlled (I imagine you are referring to (complaining about) developers) then shouldn't governments start to arrest some of these folks who are supposedly centrally controlling bitcoin? How will that work out? Probably a proliferation of more decentralization in which the code is just run by nodes and by miners without anyone in charge of whatever code exists and is chosen to be run in regards to supporting the bitcoin network, then that would be even more decentralized than what appears to already exists in bitcoin no?
and
2) is there really something wrong about the way that scarcity was established in bitcoin?
I think that a lot of folks would have had preferred bitcoin to have had retained some kind of a tail emissions, but gosh it remains difficult to really know how bitcoin's level and kind of established, created, invented discovered scarcity is really going to end up playing out.
In other words, Richy_T, you seem to be prematurely and overly disgruntled based on your imagination of actual facts in front of us.
so for small 100 dollar sends doge is clearly better.
btc is not a p2p payment system anymore.
btc is not a p2p payment system anymore.
For sure you are delusional..,. and pumping shitcoins at that.
[edited out]
it is, still, just not for coffee size payments at the moment.Lightning seems to stall a bit.
The main 'problem" is that people don't care to pay with an appreciating "currency'. They would rather pay with a depreciating one.
In that sense, doge is purrfect
Doge is a piece of shit, you got that much right... funny mixing metaphors about dog shit and cats purring.
Under $55,000 again, damn it. Was really hoping we’d reclaim $60,000 again this week.
Not comfortable with testing $50,000 again.
Come on BTC, please hold strong.
Not comfortable with testing $50,000 again.
Come on BTC, please hold strong.
Yeah? but what can we do about it?
My solution tends to be just buy when it goes down so that I feel that I am getting something out of it, even though it is just psychological mostly since surely I am losing way more when it goes down, but the UP and DOWN volatility is one of the most inevitable things in bitcoin.. and we cannot really know when and/or which direction, yet we still seem to have a pretty decent sense where we ultimately go (and get to) even though it sometimes seems to take a long time (seemingly forever) in the process.
You can always shave a bit extra off at various points in order that so much frustration does not come from the seeming length of these consolidation periods.
August 07, 2024, 11:01:14 PM
August 07, 2024, 10:01:29 PM
Here is some speculation:
Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.
Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.
Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.
If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.
TL;DR just dubious speculation as B. Cowen calls it.
Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.
Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.
Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.
If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.
TL;DR just dubious speculation as B. Cowen calls it.
500k sounds good to me.
August 07, 2024, 10:01:16 PM
August 07, 2024, 09:23:52 PM
Here is some speculation:
Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.
Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.
Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.
If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.
TL;DR just dubious speculation as B. Cowen calls it.
Our mini-crash this time was from 70K to 49.6K, roughly, which is 28.6% (some reported it as 27.5%).
In March 2020 the "main" crash was 50% in a day or so.
Therefore, the severity of this crashola so far was 28.6/50=0.572X
Assuming no more crashes, what does it say about the ensuing bull?
In 2020-21, we moved from 3.8K to 68.9K - a 18.13X.
Multiplying 18.13 by a reduced severity factor of 0.572 and assuming that the "bounce" is proportional to the "crash" gives us a 10.37X multiplier (18.13X0.572=10.37) for a maximum bull during this cycle.
If we apply 10.37X to the 49.6K low, it gives us a $514.4K maximum price during this cycle (more than I personally thought possible).
It's $467.66K if using 27.5% decline for the calculation.
TL;DR just dubious speculation as B. Cowen calls it.
August 07, 2024, 09:23:30 PM
Shorters will pay for their insolence
August 07, 2024, 09:09:32 PM
60K in one hour
August 07, 2024, 09:01:15 PM
August 07, 2024, 08:01:14 PM
August 07, 2024, 07:41:53 PM
burning one down for buddy
August 07, 2024, 07:01:16 PM
August 07, 2024, 06:50:41 PM
holy moly its up to 61 cents
whats up to 61 cents?
the dollar?
August 07, 2024, 06:41:40 PM
Yes, I know you guys over there don't know what a litre is.
Bitch, please! It's 61 cubic inches.
August 07, 2024, 06:01:14 PM
August 07, 2024, 05:38:34 PM
Btw
Good
XRP is pumping, still some smart people in the space
Good
XRP is pumping, still some smart people in the space
holy moly its up to 61 cents
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