All posts made by dragonseer in Bitcointalk.org's Wall Observer thread



1. Post 11873569 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.21h):

Quote from: BurgerKill on July 13, 2015, 08:37:44 PM
Oh, this thread is getting bigger and bigger!

Anyways, is it relatively safe to move my entire savings into Bitcoin? I want help from experts about this..

For sure, it's.

Why wouldn't it be not ?

Price may drop to $100 or something like this and I can lose everything very fast, right? Is it even possible? I'm really afraid of this.

You can move a percentage of your savings to Bitcoin, and if it drops to $100 then just hold on to it. It is just as likely to go to $1000. At this stage I don't think there are any low risk investments, as banks can just confiscate your savings if they choose. If you want to keep your savings liquid then Bitcoin is a great choice. There are always precious metals, and if you want to invest in hard assets and have the cash, look at a Steinway Piano (they have appreciated in value as much as anything)



2. Post 11989433 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.22h):

Quote from: noobtrader on July 28, 2015, 08:36:31 AM

last call before price rising to 300 400 500 and beyond 33000 50000

Last call is in September, we've got at least another month of cheap bitcoin!

https://www.youtube.com/watch?v=rkELgi6EkNo



3. Post 12162158 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.23h):

Quote from: JorgeStolfi on August 17, 2015, 12:24:58 AM
The mods at /r/bitcoin are now deleting every post that mentions the existence of the "other" implementation of bitcoin, whatever the contents.  Dozens of posts that had hundreds of upvotes and hundreds of comments.  And banning users who defend it, too.

So much for the great age of freedom and stuff that bitcoin was going to bring.

Oh, and the bitcoin "news" webshites, like CoinDesk, have been as silent on the topic as any statist newsmedia would be.

I don't blame Coindesk for being silent on this one. They are advancing the cause of crypto currency, whereas this forking issue is just a bunch of hyenas. Bitcoin is 'not' a single solution to this digital currency space, and it is better off keeping its integrity while its utility evolves.



4. Post 12195797 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.24h):

Quote from: bassclef on August 20, 2015, 05:36:22 PM
About 12% of nodes are running XT with zero blocks mined.

If this number doesn't start rising XT will be DOA, Bitcoin will have worked as intended, and Gavin/Mike will have egg on their face for unnecessarily causing a rift and spooking the market.

I support a block size increase but not something as contentious as XT. There has to be a better solution.

Personally I think this will blow over soon and better solutions will be found.

I think the longer this debate continues the more toxic it will be for Bitcoin. One of my main interests in Crypto right now is as a counterbalance to financial instability I'm anticipating in September/October of this year. If there is a big market crash and/or US Dollar devaluation then Bitcoin may not stand to benefit at all if this debate isn't settled by then (and it looks like it won't be, what with conferences in September and November/December about this scaling issue). There is no such uncertainty about a contentious fork lingering over Litecoin for instance, so if Bitcoin looks to be in shambles throughout the rest of 2015 then don't be surprised if an altcoin might just overtake BTC in terms of market cap. The XT implementation doesn't seem like a big deal to me, although I would prefer it if the alternatives to XT were more clearly defined.



5. Post 12229728 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.24h):

Well the DOW just went down 1089 points or something and Gold got an immediate boost, but not so Bitcoin. I just used the last bit of credit on my card to buy some more BTC at 217  USD. Now I've got some BTC, LTC, I even bought some Ripple and Ethereum in the last few days (mostly I diversified a little because of this fork debate). Someone is going to have to take a second look at blockchain tech in the wake of this 'Black Monday': http://www.usatoday.com/story/money/markets/2015/08/24/stocks-monday/32254435/



6. Post 12229821 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.24h):

Quote from: Jammalan the Prophet on August 24, 2015, 04:37:43 PM
Well the DOW just went down 1089 points or something and Gold got an immediate boost, but not so Bitcoin. I just used the last bit of credit on my card to buy some more BTC at 217  USD. Now I've got some BTC, LTC, I even bought some Ripple and Ethereum in the last few days (mostly I diversified a little because of this fork debate). Someone is going to have to take a second look at blockchain tech in the wake of this 'Black Monday': http://www.usatoday.com/story/money/markets/2015/08/24/stocks-monday/32254435/

How about you have another look right now?

Hmm I was looking at Gold vs AUD and it's the first time it's been above 1600 per ounce since February. But yes it didn't last long.



7. Post 12357495 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.25h):

Quote from: BlackSpidy on September 07, 2015, 09:49:28 PM
So, how long do you guys think we'll last below $250? Do you think we can hold on to somewhere between $240 and $260 until sometime October? This range does definitely seem great for buying and HOLDING purposes.

I get some more money this time next week, and I'll be buying more BTC at any price below $300.. Maybe this range will last until October, but a currency war is upon us and heating up fast



8. Post 12365294 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.25h):

Quote from: billyjoeallen on September 08, 2015, 08:07:03 PM
... and really some of the extent of your drama or exaggeration seems to be attempting to cause an effect rather than really talking about the real state of bitcoin today.

That's partially true and I'll be the first to admit it. I want the price to go down IF it leads to cause the core devs to implement a workable scale patch or else leads to some other group replacing them. I want bitcoin to succeed as an electronic peer to peer cash system as it was designed, not as some cloistered settlement network only used by the same assholes who run the current system. 

Fiat money is debt. It is lent into existence. That makes the entire global financial system a giant pyramid scheme. I don't have to wish for economic Armageddon to see one coming (or more likely a series of disasters  eventually having the same effect). I don't have to cause it or contribute to causing it. It's going to happen as a mathematical certainty.  If we don't find a way to escape the system, we will go down with it.   

A network capacity of seven transactions/sec is a life boat with very few seats.

Because this argument surfaces here all the time, I'll down put my thoughts on how this whole scaling issue is a problem that only exists because Bitcoin, or it's community, doesn't know to have a relationship with other coins. Let's say you have a Merchant that takes Litecoins, Quark, whatever as a peer to peer cash system at their place of business. At the end of the business day, the merchant consolidates their transactions into one Bitcoin transaction. This seems to be the same scenario that is being talked about as a 'Lightning Sidechain', except Core developers aren't invoking the dirty word of 'altcoin'. In this case, Bitcoin doesn't need to fork, because it isn't trying to be a single solution to this problem, and I'm not sure BIP 100, BIP 101 or whatever will enable Bitcoin to cope with this 'Mass Adoption' scenario anyway.



9. Post 12438333 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.26h):

Quote from: Hopalong on September 16, 2015, 01:50:33 PM

And what have you tried to do?

As i see it you dont do anything but expect others to do it for you with this metod...


What do you mean what have I done?

I'm just a regular guy, I've invested what I can afford to over the last 18 months or so into a speculative investment (bitcoin).

Whenever I've had spare fiat I've bought. I HODL a semi decent stash in cold storage in the hope that one day bitcoin booms & I make a better life for myself. Maybe it'll work, maybe I'll have pissed my money down the drain but I'm trying.

Why what have you done?

I am not talking about what you have done all your life. I quoted something and asked a question about a statement you had. Dont care what else you have done...



You said: "And what have you tried to do?" and then, without waiting for an answer, leapt straight to: "As i see it you dont do anything but expect others to do it for you with this metod..."

Given that, LFC_Bitcoin's reply seems entirely reasonable. Polite and restrained, even. LFC answered your question, and then asked the same question of you.

Did you read what i quoted?

As i understand he meant that putting his coins in cold storage and wait for others to make them valuable was some sort of contribution. It is not only him but many around here that think this way. If everyone did the same with their coins the whole bitcoin experience would be forgotten in a month...

Eveyone can do whatever they want with their coins buit dont tell anyone that you are trying to help out if you only try to help yourself.

I don't think you're being fair. Yes you are doing something by putting a little money into Bitcoin here and there. You are supporting Bitcoin because you want a better monetary system that isn't based on debt, and isn't confined by borders.  When times are lean then it makes sense to stash something valuable away, until it becomes worth more. When the value appreciates again, Bitcoin holders can use their increased purchasing power to support businesses that embrace crypto, rather than cash out. That's what 'many around here' are waiting to do I'm sure.



10. Post 12806686 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.29h):

Quote from: billyjoeallen on October 28, 2015, 04:09:01 AM
Damn!  USD is running 0.06% daily on BFX. more than 10X the interest rate on BTC.

EDIT: now >0.08!


In the past 30 days, we have had a return of nearly 30%, and I calculate that to be approximately 1% per day, on average.  The past month as been a good time to have been in BTC.
By my estimation, we're in a 45 day-ish run that has been reasonable enough to suggest that this isn't a pump and way different than the last few. That's quite some time and likely shouts that we're into something way apart from the last runs. No one can doubt that the halving is or will be having an effect in a large way now or in the short term. Moon? That's right I said it!

I'm gonna pee in you pool a little. If you investment goes down 50% and then goes up 50%, you still have only 75% of what you started with. If BTC was $100, then went down to $50, then back up to $75, that's what I mean.

All of this extra activity related to the Mavrodi pyramid is likely to increase the number of xactions on the network.  If this leads to a backlog,  no fee xactions will probably never get confirmed and fees will go up for anyone who needs their bitcoin transferred in a timely manner, possibly up substantially. 

The power of exponential growth can be truly awesome.  possibly faster. A ponzi scheme needs an ever-expanding pool of suckers to continue.  A collapse is inevitable regardless of the block size outcome. This pump can last for a long time, but if the goddamn blocksize cap isn't raised (or preferably eliminated entirely), it's going to collapse when the network crashes which may be even before Mavrodi runs out of suckers.

Leveraged shorts are going up substantially on BFX, as well as longs.  If I had to guess, there will be a short squeeze before a long squeeze.  Liquidity providers have been caught unprepared for the short term demand of the ponzi.  It cannot last but can go on for months.  When this thing unwinds, we may find ourselves in a new Nash equilibrium below $200.  The fallout will damage Bitcoin possibly even worse than Gox.  Expect more bans and heavier regulation. 

So you've sold coins during this rally and you'd rather it doesn't continue - big surprise. The threat of an XT fork caused uncertainty and drove the price down, but now that's dead in the water, and smart money is moving into Bitcoin rather than fiat as a crisis looms over the broader financial market.  As technical issue scaling can be solved in a less divisive fashion down the road, when it actually matters. In the meantime, Bitcoin is looking better and better as a store of value so go piss in someone else's pool.



11. Post 12818821 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.29h):

Quote from: rjclarke2000 on October 29, 2015, 10:01:35 AM
Why are the Chinese doing this now all of a sudden?

I can offer you a possible answer to consider. It may be that the Chinese are getting ready to do what many have feared for a while, and that is, start dumping US treasury bonds. They can do this but not without devaluing their own currency to a degree, before later stabilizing by moving to a gold standard. So insiders could well be moving private funds to Bitcoin in anticipation of this. If this is the case then this steady rise will continue before a violent upwards spike will declare Bitcoin is back in a big way.



12. Post 12830944 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.30h):

Quote from: Nimbulan on October 30, 2015, 12:40:41 PM
well i guess reaching 330 was the top now we should get ready for landing to about 250 each

I doubt we'll see any coins cheaper than 280 for quite some time, possibly ever.  If it consolidates above 310 in the next while, we'll be good for another push upwards.



13. Post 12864900 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.30h):

Just sold @366 USD where are the rest of the profit takers I want to buy back for less dammit  Angry



14. Post 12864939 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.30h):

Quote from: peonminer on November 03, 2015, 03:25:36 AM
Just sold @366 USD where are the rest of the profit takers I want to buy back for less dammit  Angry
You fool, this bot pump will be bigger and better than the last

The last big pump didn't have an auction looming over it. This rise may scare off bidders and there could be a big dump afterwards. I sold half so it's an even way bet for me personally.



15. Post 12865359 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.30h):

Quote from: r0ach on November 03, 2015, 03:45:48 AM
Just sold @366 USD where are the rest of the profit takers I want to buy back for less dammit  Angry

Damn son, where are your balls.  What are you for halloween, a bitch?



It would be nice when the price goes up to know why it is doing so. I don't pretend to be someone that makes money by trading, for me, this volatility is undermining Bitcoin as an asset ahead of this Marshall's auction as I stated, so I sold off some as a precaution.  

Is this new money coming in? Or a few whales moving the price and enticing existing Bitcoin users to leverage themselves in the hopes this is finally going to take off?

This is a good time to sell some if you like Bitcoin as a currency and an asset. If you like Bitcoin as a lottery ticket, then by all means use your credit cards and HODL  Roll Eyes




16. Post 12870105 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.31h):

Before we all get too excited at this price pump, there might be something shady happening right now.

I have had Bitcoin withdrawals stuck on Cryptsy for several hours now.

I have sent repeat messages to their support, and was about to ask other users in the chat if they have had any issues, and I have been blocked.

It is possible this pump has been made possible with exchanges trading on funds belonging to their clients.



17. Post 12870214 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.31h):

Quote from: BitUsher on November 03, 2015, 03:05:06 PM
Before we all get too excited at this price pump, there might be something shady happening right now.

I have had Bitcoin withdrawals stuck on Cryptsy for several hours now.

I have sent repeat messages to their support, and was about to ask other users in the chat if they have had any issues, and I have been blocked.

It is possible this pump has been made possible with exchanges trading on funds belonging to their clients.
There have been cryptsy warning signs that have grown recently which started ever since they got in bed with paycoin.

Luckily there are enough regulated and competing exchanges where price discovery cannot so easily be  manipulated like last time with mtGox.

I would be extremely skeptical with any centralized / unregulated exchange.... including btc-e/

Well that may be comforting for others here I guess.

If Cryptsy pulls an exit scam and takes some of my BTC with it then it puts another twist on this surge anyway :/



18. Post 12984809 (copy this link) (by dragonseer) (scraped on 2020-04-04_Sat_14.34h):

Quote from: Fatman3001 on November 15, 2015, 11:00:30 PM


Can't you guyz and galz just launch this mofo to 10k so I can buy a boat?

Is that really too much to ask for?

I sold during the last pump and while I could buy back in for less right now, I'm staying out of it.

The CEO of Coinbase made comments this month about how they plan to 'upgrade' their system in the second week of December, as they undermine the core developers and go against community sentiment about what Bitcoin is.

https://bitcoinmagazine.com/articles/coinbase-ceo-brian-armstrong-bip-is-the-best-proposal-we-ve-seen-so-far-1446584055

This is a corporate move to take Bitcoin over and turn it into something appropriate for bankers (the XT fork WILL NEED more updates, while its blacklists will be updated too), who can then use it to dump their fiat into while other systems collapse and hyperinflation starts.

For this to work, they are counting on people like you, to be so happy with your profits and new boat that you won't care that Bitcoin has lost its integrity along the way.

I'll get behind Bitcoin again if the community proves itself smarter than this however.