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

[NotLambchop]

...Mainstream use of phone started like that yes.... phone technology did not. There was lots of work in infrastructure first, what we now see in bitcoinland. I'm sure with bitcoin it won't take many decades, don"t you think?

Allright, Bitcoin is more useful than the telephone.  And the people who got the first phones, the early adopter visionaries, all got filthy rich.

You are either really bad at analogies or really good at creating false analogies.

You realize that the original analogy is contrived gibberish too, right?  Bitcoin is a Goldbergian contrivance, at best a cludgy solution to a problem existing only in the minds of a few batty libers.  

Which aspect of the telephone is analogous to Bitcoin?  The "disruptive technology"?  In that case, it's as asinine expecting to profit from buying and hoarding Bitcoin as it is from buying and hoarding telephone sets.

The network effect?  Sure, but how does it factor in?  Can it help us evaluate the soundness of buying and hodling Bitcoin?  Would the resulting model be verifiable/falsifiable?

If network effect was the dominant factor here, it should be reflected in Bitcoin price.  It isn't--the price has been plummeting for close to a year now.  Intentional avoidance of inconvenient evidence like this is typical of libber thinking:  Latch on to a simple-to-grasp, intuitive analogy, and ignore all IRL data which contradicts it.

Again, the network effect is a concept--it's used to illustrate why things happen after they happen.  As a model it has no predictive power, it can't tell you that shit will/will not happen.  More sophistry and illusion--commit it then to the flames

Stay tasty, earthlings.



  ~Your Beneficent Reptilian Overlords.

[BlindMayorBitcorn]

How does everyone feel about the B symbol with the two lines through the outside?  Can we live with that as our logo?

[NotLambchop]

How does everyone feel about the B symbol with the two lines through the outside?  Can we live with that as our logo?

Yes.  Clearly derivative of/has attractive similarities to the iconic $, inspires confidence.

[Ivanhoe]

...Mainstream use of phone started like that yes.... phone technology did not. There was lots of work in infrastructure first, what we now see in bitcoinland. I'm sure with bitcoin it won't take many decades, don"t you think?

Allright, Bitcoin is more useful than the telephone.  And the people who got the first phones, the early adopter visionaries, all got filthy rich.

You are either really bad at analogies or really good at creating false analogies.

You realize that the original analogy is contrived gibberish too, right?  Bitcoin is a Goldbergian contrivance, at best a cludgy solution to a problem existing only in the minds of a few batty libers.  


The network effect?  Sure, but how does it factor in?  Can it help us evaluate the soundness of buying and hodling Bitcoin?  Would the resulting model be verifiable/falsifiable?

If network effect was the dominant factor here, it should be reflected in Bitcoin price.  It isn't--the price has been plummeting for close to a year now.  Intentional avoidance of inconvenient evidence like this is typical of libber thinking:  Latch on to a simple-to-grasp, intuitive analogy, and ignore all IRL data which contradicts it.

Again, the network effect is a concept--it's used to illustrate why things happen after they happen.  As a model it has no predictive power, it can't tell you that shit will/will not happen.  More sophistry and illusion--commit it then to the flames

It does reflect in the price, just look at long-term graphs. Short-term there are other things factored in like market psychology.

The network effect:

https://blockchain.info/en/charts/hash-rate?showDataPoints=false&timespan=2year&show_header=true&daysAverageString=7&scale=0&address=

https://blockchain.info/en/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

Back to school kid!

[greenlion]

Bitcoin is a Goldbergian contrivance, at best a cludgy solution to a problem existing only in the minds of a few batty libers.  

I heartily agree. Disintermediating central payment clearance by constructing a peer-to-peer network achieving consensus with a practical workaround of the Byzantine General's problem is obviously for stupid Libertarian assholes. What a bunch of idiots, finding value in a system that is trying to do something pointless like make money and property exchange clearance fast and cheap!

[NotLambchop]

...
Back to school kid!

Learn some tact, faggot.

[NotLambchop]

Bitcoin is a Goldbergian contrivance, at best a cludgy solution to a problem existing only in the minds of a few batty libers.  

I heartily agree. [bunch complicated stuff attempting to do something which is done much simpler and to everyone's satisfaction already]

Goldbergian, yeah.

[pjviitas]

...Mainstream use of phone started like that yes.... phone technology did not. There was lots of work in infrastructure first, what we now see in bitcoinland. I'm sure with bitcoin it won't take many decades, don"t you think?

Allright, Bitcoin is more useful than the telephone.  And the people who got the first phones, the early adopter visionaries, all got filthy rich.

You are either really bad at analogies or really good at creating false analogies.

You realize that the original analogy is contrived gibberish too, right?  Bitcoin is a Goldbergian contrivance, at best a cludgy solution to a problem existing only in the minds of a few batty libers.  


The network effect?  Sure, but how does it factor in?  Can it help us evaluate the soundness of buying and hodling Bitcoin?  Would the resulting model be verifiable/falsifiable?

If network effect was the dominant factor here, it should be reflected in Bitcoin price.  It isn't--the price has been plummeting for close to a year now.  Intentional avoidance of inconvenient evidence like this is typical of libber thinking:  Latch on to a simple-to-grasp, intuitive analogy, and ignore all IRL data which contradicts it.

Again, the network effect is a concept--it's used to illustrate why things happen after they happen.  As a model it has no predictive power, it can't tell you that shit will/will not happen.  More sophistry and illusion--commit it then to the flames

It does reflect in the price, just look at long-term graphs. Short-term there are other things factored in like market psychology.

The network effect:

https://blockchain.info/en/charts/hash-rate?showDataPoints=false&timespan=2year&show_header=true&daysAverageString=7&scale=0&address=

https://blockchain.info/en/charts/n-transactions-excluding-popular?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

Back to school kid!

The number of transactions does not equate to Bitcoin adoption rate...transaction rates can be manipulated.

The question is motive...how about more transactions equal more blocks...more blocks equal more new coins for the miners.

[N12]

I have a question for those who still believe in a crazy price rise and mainstream adoption.
It's been 6 years. 99.9999% of the world out there doesn't give a shit about Bitcoin, bank fees, decentralization and so on.
Why do you think that after 6 years (six!!) this suddenly will change?
How delusional do you have to be to believe this?

Bitcoin's real benefits (first digital asset with no counterparty and unalterable monetary inflation) never were in being a currency, that's just what some hipsters and feel good guys thought up. People like you, who then get disappointed that their unrealistic visions do not get fulfilled.

Even if Bitcoin was to ever become a currency, do you seriously think this transition could take any less than a few decades? Humans are very slow to change, it takes generations.

[grappa_barricata]

Hey, 8ball works great!

[ChartBuddy]

Explanation

[Wandererfromthenorth]

I have a question for those who still believe in a crazy price rise and mainstream adoption.
It's been 6 years. 99.9999% of the world out there doesn't give a shit about Bitcoin, bank fees, decentralization and so on.
Why do you think that after 6 years (six!!) this suddenly will change?
How delusional do you have to be to believe this?

Bitcoin's real benefits (first digital asset with no counterparty and unalterable monetary inflation) never were in being a currency, that's just what some hipsters and feel good guys thought up. People like you, who then get disappointed that their unrealistic visions do not get fulfilled.

Even if Bitcoin was to ever become a currency, do you seriously think this transition could take any less than a few decades? Humans are very slow to change, it takes generations.

Wait, did you just try to give a serious answer to a ShroomsKit post?

[greenlion]

Bitcoin is a Goldbergian contrivance, at best a cludgy solution to a problem existing only in the minds of a few batty libers.  

I heartily agree. [bunch complicated stuff attempting to do something which is done much simpler and to everyone's satisfaction already]

Goldbergian, yeah.

Preach that 'ligion! What a bunch of Libertarian retards, caring about ideas that are annoying and complex!

[DonDev]

The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.

[ShroomsKit]

The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.

There are way better alt coins for that.

[ShroomsKit]

The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.

There are way better alt coins for that.

Altcoins

Since Bitcoin has failed and soon will be dead any other coin with better features can take its place.

[Wekkel]

The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.

There are way better alt coins for that.

It does not have to be 100% privacy. It can just be something that is similar to cash: payment is visible for the receiver, but the identity of the payee is not necessarily known to the rest of the world (e.g., stored in a central system with access for government officials).

[BlindMayorBitcorn]

The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.

There are way better alt coins for that.

Altcoins

Since Bitcoin has failed and soon will be dead any other coin with better features can take its place.

Bitcoin got caught up in a speculative bubble. How is it dead?

[iram3130]

The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.

There are way better alt coins for that.

Altcoins

Since Bitcoin has failed and soon will be dead any other coin with better features can take its place.

I don't think any other coin will take Bitcoin place if Bitcoin failed.
 People will lost faith on crypto after failing Bitcoin.

[ShroomsKit]

The only reason why BTC will grow and increase in price is Anonymity. Each and everyday people are tired of showing ids and passports to banks to send money to someone or receive. With BTC its all cool and your anonymous what more is needed? BTC Can grow a lot more in developed countries with high tax rate and strict control. As people want to live free not in a cage. One of the reason Sweden loves bitcoin is this.

There are way better alt coins for that.

It does not have to be 100% privacy. It can just be something that is similar to cash: payment is visible for the receiver, but the identity of the payee is not necessarily known to the rest of the world (e.g., stored in a central system with access for government officials).

Yeah, there are better coins for that.
Bitcoin is just an outdated pump and dump coin.