Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 9430.

realr0ach

sr. member

Activity: 924

Merit: 311

#TheGoyimKnow

Quote from: becoin on September 14, 2019, 03:14:18 AM

Quote from: realr0ach on September 14, 2019, 02:52:49 AM

The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead.

Of course, it CAN!
The price of a $100 bill is $100 while production cost is just 17 cents!

That's called seigniorage fee, which is a TAX. It's a TAX forced on you by the barrel of a gun. Nobody can force anyone to use Bitcoin to extract seigniorage fee because 'Bitcoin' has no fucking military or nuclear weapons. Unless you're claiming the US govt created Bitcoin and will attempt to make you use it by force. Even if that was the case, nobody gives a flying shit about ANYTHING govt says now.

The only way the price of Bitcoin can be $100k while only having a $6k cost of production is if mining is a completely centralized monopoly, which you tards are hesitant to admit that's what your banking on because it would mean Bitcoin is a complete scam of zero value. And good job VB1001 for meritting becoin's idiotic answer. Typical shitcoin scammer lies and buffoonery on display 24/7 in this thread.

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: realr0ach on September 14, 2019, 02:52:49 AM

The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead.

Of course, it CAN!
The price of a $100 bill is $100 while production cost is just 17 cents!

realr0ach

sr. member

Activity: 924

Merit: 311

#TheGoyimKnow

Quote from: El duderino_ on September 13, 2019, 11:40:22 AM

Another day of shitcoin scammer Micgoossen's lies and dipshittery. Here's what's actually occurring in that picture. First of all, "shells" aren't money - they do not have the qualifying traits, and they were never ubiquitously used as such either, so it's stupid to even include them in the chart. They're not fungible, they're not durable, etc, etc. The instances of people attempting to use things like rice as money were probably ENORMOUSLY higher than anyone ever using 'shells', but shitcoin scammer idiots like Nick Szabo INSIST on using 'shells' as an example to make it SEEM like anything can qualify as money when it's not the case.

Out of your personal example of "shells", gold, and gold coins, all three are used as both a transactional unit (currency) and a settlement system (money) at the same time. In the case of the latter three: notes, bank accounts, and Bitcoin, those are all solely transactional units (currency) and NOT settlement systems (money). It's a complete apples vs oranges comparison. No form of settlement has EVER taken place in all of history without a real world object being exchanged because digital 1's and 0's are completely useless to humans. A real world object must be transferred at some point for settlement to occur.

serveria.com

legendary

Activity: 2478

Merit: 1220

Privacy Servers. Since 2009.

Quote from: mindrust on September 14, 2019, 12:16:09 AM

Quote from: jojo69 on September 14, 2019, 12:11:03 AM

Quote from: HairyMaclairy on September 13, 2019, 08:44:20 PM

Ballet - The World’s First Multicurrency, Non-electronic Hardware Wallet.

Complete with scratch off private key. Erm lol thanks Bobby Lee.

https://www.kickstarter.com/projects/balletcrypto/ballet-cryptocurrency-hardware-wallet

what the actual fuck??

not your keys folks...jesus

You can't even prove that somebody else stole the coins. They'll accuse you instead and there is nothing you can do about it. This is perfect for selective scamming. Scam every 10.000th person and nobody will give a fuck about him.

It's actually enough to scam just ONE person with enough coins. Who's going to believe your story? Huh

realr0ach

sr. member

Activity: 924

Merit: 311

#TheGoyimKnow

Quote from: Dabs on September 13, 2019, 07:29:10 AM

You can't mine just 1 bitcoin for $6k. You could try. Otherwise, the price is indeed determined solely by traders. Some miners are also traders. Some miners are not.

Of course you can mine "just 1 bitcoin". It's called 'pool mining'. Why are you trying to trick people into believing the price of Bitcoin can go to infinity without mining massively expanding along with the price? The price CANNOT go to $100k while having a $6k post-halving cost of production because nobody would buy your $100k coin if they can mine one for $6k instead. And mining is already too huge to increase by an order of magnitude or higher to buffer prices that elevated or it would use more power than the entire United States. People claiming the price can go to $100k after halving are retard scammers.

VB1001

legendary

Activity: 938

Merit: 2540

<>

Quote

Coinbase gradually increased its market share from 24 percent to 32 percent during this period, taking share primarily from Bitfinex which fell from 25 percent to 19 percent. Bitfinex’s reduction in market share is understandable given its longstanding issues with timely withdrawals and a heightened regulatory environment. As more exchanges limit access to U.S.-based traders, we expect more trading activity to concentrate on Coinbase, the primary Bitcoin-U.S. Dollar market.

Quote

Bitcoin-Tether markets show a similar level of concentration with trading activity heavily concentrated on Binance and Huobi. LBank, HitBTC, and ZB.COM also have moderate levels of reported volume, although Coin Metrics’ internal scoring framework indicates that these exchanges are likely to report a higher fraction of fake volume. In total, these five exchanges consist of roughly 95 percent of reported traded volume. Volume in Bitcoin-Tether markets are greater than Bitcoin-U.S. Dollar markets – Binance’s peak average volume is roughly twice the magnitude of Coinbase’s peak average volume.

https://coinmetrics.substack.com/p/coin-metrics-state-of-the-network-96e

Too much concentrated volume, "Not your keys, not your BTCitcoin"

fillippone

legendary

Activity: 2380

Merit: 17063

Fully fledged Merit Cycler - Golden Feather 22-23

Quote from: VB1001 on September 14, 2019, 01:09:41 AM

Quote

Bank's views on bitcoin:

2010: laughs
2011: laughs
2012: laughs
2013: laughs
2014: laughs
2015: laughs
2016: laughs
2017: laughs
2018: laughs
2019: PBOC, Fed, ECB, BoE, and the IFM announce the support/development/launch of digital currencies.

That escalated quickly.

https://twitter.com/Rhythmtrader/status/1172528846094176256

Banks are the hyenas of the economy, they are hypocrites, scammers and greedy, never trust a banker, even if it's from your family.
Apart from the banks too many people laugh at Bitcoin but very soon they will cry.

Yeah,
Not only CB’s are developing their crypto/digital version of their own shitcoin (whatever that mean, as today shitcoins weren’t digital enough), but they are actually U-turning from declarations on the Past: I saw a good they, so I am using his words:

Quote

They're so scared that are backpedaling on their previous declarations like "central bank digital Euro is not to be expected any time soon" (May 2017)

France, Germany blast Facebook's Libra, back public cryptocurrency

https://twitter.com/ferdinando1970/status/1172602320686919681

From the same twitter Thread

Quote

July 2014: @EBA_News invited financial institutions not to buy, hold, or sell virtual currencies [sic] that did not develop a reliable governance process. 5 years later: @Libra_ proposes an accountable reliable governance process to regulators and the answer is "you cannot do it"

They are definitely panicking.

mindrust

legendary

Activity: 3276

Merit: 2442

Bitcoin, what is it? Why you should buy NOW!?

If you don't know who this is, he is a pretty famous early adopter. He has many precious metal videos before he knew about bitcoin too. He was literally screaming at everybody to get in when it was pennies. Warned people before the Mt. Gox collapse.

Now he gives the buy signal by simply saying...

BUY

From the video:

Quote

Put 0.1% of your wealth in Bitcoin. If I am right, that 0.1% will cover all the losses from your other assets.

Pretty hardcore shit.

Globb0

legendary

Activity: 2702

Merit: 2053

Free spirit

Quote from: Last of the V8s on September 13, 2019, 02:08:30 PM

https://www.digitaltrends.com/cool-tech/cerebras-ai-chip-the-size-of-an-ipad/

That chip size excites me.

becoin

legendary

Activity: 3431

Merit: 1233

Quote from: Biodom on September 13, 2019, 11:11:40 PM

Quote from: DireWolfM14 on September 13, 2019, 10:48:03 PM

Quote from: cAPSLOCK on September 13, 2019, 10:22:35 PM

Or maybe no one will EVER understand what the fuck bitcoin actually is.

Right, like that's really a private key underneath that scratcher? Pretty fucking lazy scam if you ask me.

I don't think that they are complete morons.
There must be an explanation that makes it something that can work, at least theoretically.

Upon further check, there is a procedure, not sure how well it would work.
First, passphrase is printed, then covered, then encrypted key unlocked by the passphrase is randomly generated at the second location.
They claim that after wallet's private key (encrypted) is printed on the wallet, the data is destroyed (at their end).

TL;DR they generate the passphrase and an encrypted private key in two different geographic locations, then apply both (together or in sequence?) to the wallet printout/etching.

This is not new and it is not done the way it should be done!

There is a secure cryptographic procedure to turn YOUR Passphrase into an Intermediate Code and give this Code to the manufacturer. This was first offered by Mike Caldwell (Casascius) in 2012 and applied in the last series of his casascius coins.

https://bitcointalksearch.org/topic/do-it-yourself-escrow-with-two-factor-address-utility-129552
https://casascius.wordpress.com/2013/01/26/bitcoin-address-utility/

But then, what Bobby Lee is suggesting is NOT the same because HIS Team1 is generating the passphrase for the intermediate code to be used by HIS Team2.

mindrust

legendary

Activity: 3276

Merit: 2442

The only bankster I trust is myself because I am my own bank. Grin

VB1001

legendary

Activity: 938

Merit: 2540

<>

Quote

Bank's views on bitcoin:

2010: laughs
2011: laughs
2012: laughs
2013: laughs
2014: laughs
2015: laughs
2016: laughs
2017: laughs
2018: laughs
2019: PBOC, Fed, ECB, BoE, and the IFM announce the support/development/launch of digital currencies.

That escalated quickly.

https://twitter.com/Rhythmtrader/status/1172528846094176256

Banks are the hyenas of the economy, they are hypocrites, scammers and greedy, never trust a banker, even if it's from your family.
Apart from the banks too many people laugh at Bitcoin but very soon they will cry.

mindrust

legendary

Activity: 3276

Merit: 2442

Quote from: jojo69 on September 14, 2019, 12:11:03 AM

Quote from: HairyMaclairy on September 13, 2019, 08:44:20 PM

Ballet - The World’s First Multicurrency, Non-electronic Hardware Wallet.

Complete with scratch off private key. Erm lol thanks Bobby Lee.

https://www.kickstarter.com/projects/balletcrypto/ballet-cryptocurrency-hardware-wallet

what the actual fuck??

not your keys folks...jesus

You can't even prove that somebody else stole the coins. They'll accuse you instead and there is nothing you can do about it. This is perfect for selective scamming. Scam every 10.000th person and nobody will give a fuck about him.

jojo69

legendary

Activity: 3388

Merit: 4775

diamond-handed zealot

Quote from: HairyMaclairy on September 13, 2019, 08:44:20 PM

Ballet - The World’s First Multicurrency, Non-electronic Hardware Wallet.

Complete with scratch off private key. Erm lol thanks Bobby Lee.

https://www.kickstarter.com/projects/balletcrypto/ballet-cryptocurrency-hardware-wallet

what the actual fuck??

not your keys folks...jesus

Biodom

legendary

Activity: 3990

Merit: 4597

Quote from: DireWolfM14 on September 13, 2019, 10:48:03 PM

Quote from: cAPSLOCK on September 13, 2019, 10:22:35 PM

Or maybe no one will EVER understand what the fuck bitcoin actually is.

Right, like that's really a private key underneath that scratcher? Pretty fucking lazy scam if you ask me.

I don't think that they are complete morons.
There must be an explanation that makes it something that can work, at least theoretically.

Upon further check, there is a procedure, not sure how well it would work.
First, passphrase is printed, then covered, then encrypted key unlocked by the passphrase is randomly generated at the second location.
They claim that after wallet's private key (encrypted) is printed on the wallet, the data is destroyed (at their end).

TL;DR they generate the passphrase and an encrypted private key in two different geographic locations, then apply both (together or in sequence?) to the wallet printout/etching.

d_eddie

legendary

Activity: 2520

Merit: 3038

Gashes or cleavage?
Unrelatedly staring
at a fissured wall

#haiku

d_eddie

legendary

Activity: 2520

Merit: 3038

Quote from: DireWolfM14 on September 13, 2019, 10:48:03 PM

Quote from: cAPSLOCK on September 13, 2019, 10:22:35 PM

Or maybe no one will EVER understand what the fuck bitcoin actually is.

Right, like that's really a private key underneath that scratcher? Pretty fucking lazy scam if you ask me.

I would trust such a card after 6 mere confirmations. Basically , it clears after one statistical hour, and it only does once. Good for people with some gentleman time on their hands.

DireWolfM14

copper member

Activity: 2338

Merit: 4543

Join the world-leading crypto sportsbook NOW!

Quote from: cAPSLOCK on September 13, 2019, 10:22:35 PM

Or maybe no one will EVER understand what the fuck bitcoin actually is.

Right, like that's really a private key underneath that scratcher? Pretty fucking lazy scam if you ask me.

JSRAW

legendary

Activity: 2184

Merit: 1540

Quote from: Totscha on September 13, 2019, 05:26:59 AM

Quote from: fillippone on September 13, 2019, 05:20:32 AM

Quote from: Last of the V8s on September 13, 2019, 04:55:22 AM

Despite being Italian, fillippone is not a total cunt. Read his beginner's guide. No short cuts, read it all

Oh thanks,
Not 100% cunt then.
Ok, that’s a start...I have room to improve (toward 0%)

Don't take it too hard... Everyone is a bit of a cunt Wink

Except the French, they're massive cunts

Well they are blocking Libra, give some credit them. Roll Eyes

France and Germany agree to block Facebook's Libra

Quote

PARIS (Reuters) - France and Germany have agreed to block Facebook’s Libra cryptocurrency, the French finance ministry said on Friday.

In a joint statement, the two governments affirmed that “no private entity can claim monetary power, which is inherent to the sovereignty of nations”.

French Finance Minister Bruno Le Maire said on Thursday that Facebook’s new cryptocurrency should not be allowed to operate in Europe while concerns persist about sovereignty and persistent financial risks.

cAPSLOCK

legendary

Activity: 3766

Merit: 5146

Note the unconventional cAPITALIZATION!

Quote from: HairyMaclairy on September 13, 2019, 08:44:20 PM

Ballet - The World’s First Multicurrency, Non-electronic Hardware Wallet.

Complete with scratch off private key. Erm lol thanks Bobby Lee.

https://www.kickstarter.com/projects/balletcrypto/ballet-cryptocurrency-hardware-wallet

Good Lord.

It's still early days gents. Or maybe no one will EVER understand what the fuck bitcoin actually is.

This is like a cellphone with a rotary dial.

Except at least a cellphone with a rotary dial would be something you could trust to do what it is made to do.

I wouldn't trust this anywhere but in my trashcan.

Bobby Lee is either Lazy as hell or a scammer. My SATs are on the latter, sorry.

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 9430. (Read 26709845 times)