All posts made by revans in Bitcointalk.org's Wall Observer thread
1.
Post 3424530 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.19h):
Yes but it does give bitcoin a physical presence out there in the real world.
Why does a non physical currency need a physical presence? Seems like more astroturfing for Bitcoin to me, it certainly isn't serving any serious market demand.
2.
Post 3536791 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.22h):
GOX has the plunge protection team trying their best to stop the price collapsing
3.
Post 3536824 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.22h):
I think the last few days demonstrate that Bitcoin is a pretty awful at being a currency.
4.
Post 3536851 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.22h):
Major price capitulation about to hit, this is going a loooooooooooooooooooooooooooooooooooooooooooooooooooooooooong way down.
5.
Post 3536863 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.22h):
Hope those watching on Gox can see the blatant manipulation attempting to move the price back up.
6.
Post 3536868 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.22h):
Perhaps some people are having a 'WTF have I invested in' moment
7.
Post 3536889 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.22h):
But...but, teh China, teh ATM, teh Paypal. It's different this time...right?
8.
Post 3730941 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.29h):
LTC is the largest threat to crypto. If it wins, everyone loses. Not even jokin' mang. It needs to crash. Not I want but we need.
If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.
You wanted your free market in currencies...now choke on it.
9.
Post 3730970 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.29h):
LTC is the largest threat to crypto. If it wins, everyone loses. Not even jokin' mang. It needs to crash. Not I want but we need.
If you want to see how irrational people who claim to be "rational" can be, just find yourself a litecoin user. They gain no benefit from using litecoin except providing some funding to BTC-E in ways of fees and give the public and investors a reason to be skeptical.
It used to me that we could laugh off queries about why someone couldn't just make up a new coin that would make theirs worth less. We'd laugh and say "because people aren't so stupid as to actively ruin their own investments!" Our laughter is a lot more nervous now. Turns out people are so stupid.
The only possible goal of litecoin is to make all cryptocurrency worth nothing in the long term.
Hey man, it's a free market remember. Surely you support competition, competing currencies give more choice, and we all know how you libertarian types like choice. Why can't Litecoin users, or the users of the 5000 cryptocurrencies there will probably be in a few years, be allowed to magic value from thin air just like Bitcoin users?
10.
Post 3731075 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.29h):
Maybe one of the reasons people are so keen for mBTC to be adopted as the "industry standard" is that they're scared Litecoin is too attractively priced.
Yes it's almost as if people who claim to believe in free markets and competition actually don't
11.
Post 3731137 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.29h):
I think most people missed the boat on LTC. The smart investors realized that LTC would grow, because currencies that are new can have the most gains in the shortest amount of time, so they bought in early (not to mention that LTC is marketed as BTC's silver). Just look at BTC. A 5000% growth in one year time. BTC will never achieve that performance again in the coming years. Perhaps a 20x growth, but the growth in percentages will keep going down over time.
Because of this enormous growth in the early stages, people will be incentivized to buy coins that are still in the cents or 1 dollar range. Those coins have the possibility of achieving growth gains that are in the thousands of percentages. But right now, LTC is 20 dollars. I think its max market cap will be 500 dollars, because it doesn't give any real advantages over BTC and will thus remain a speculative instrument mostly. Those growth gains can be easily achievable with BTC, since I'm positive that we are in between the innovator phase and the early adopter phase.
It might still be worth a shot, because there are rumors that Mt. Gox will implement LTC, which will greatly increase its legitimacy. But it's up to merchants to adopt LTC besides BTC. As long as they don't do that, LTC's market cap will be limited and it's growth will only depend on speculative interest.
Right now, it might be worth looking for the next candidate after LTC, the one that has the best chance after LTC and that's still in the cents stage. If it can be ascertained for sure which is the best third coin, it would almost be a given that growth percentages of above 1000% and more will be achievable due to sheer speculative greed.
Speculative interest is all that is driving Bitcoin. Well that and Satoshi dice.
12.
Post 3731172 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.29h):
I think most people missed the boat on LTC. The smart investors realized that LTC would grow, because currencies that are new can have the most gains in the shortest amount of time, so they bought in early (not to mention that LTC is marketed as BTC's silver). Just look at BTC. A 5000% growth in one year time. BTC will never achieve that performance again in the coming years. Perhaps a 20x growth, but the growth in percentages will keep going down over time.
Because of this enormous growth in the early stages, people will be incentivized to buy coins that are still in the cents or 1 dollar range. Those coins have the possibility of achieving growth gains that are in the thousands of percentages. But right now, LTC is 20 dollars. I think its max market cap will be 500 dollars, because it doesn't give any real advantages over BTC and will thus remain a speculative instrument mostly. Those growth gains can be easily achievable with BTC, since I'm positive that we are in between the innovator phase and the early adopter phase.
It might still be worth a shot, because there are rumors that Mt. Gox will implement LTC, which will greatly increase its legitimacy. But it's up to merchants to adopt LTC besides BTC. As long as they don't do that, LTC's market cap will be limited and it's growth will only depend on speculative interest.
Right now, it might be worth looking for the next candidate after LTC, the one that has the best chance after LTC and that's still in the cents stage. If it can be ascertained for sure which is the best third coin, it would almost be a given that growth percentages of above 1000% and more will be achievable due to sheer speculative greed.
Speculative interest is all that is driving Bitcoin. Well that and Satoshi dice.
It's a feedback loop. Speculative interest is fueling merchant adoption, which in turn fuels speculative interest. But the fact that there's merchant adoption is significant. It's gone way beyond just speculative interest, though it does remain the main source of growth right now. Ironically enough, I don't think BTC or any other free market coin would have ever succeeded without speculative interest.
Would you care to venture a guess as to the daily Bitcoin transaction volume for goods and services?
13.
Post 3731308 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.29h):
Speculative interest is all that is driving Bitcoin. Well that and Satoshi dice.
Context :
Of course, but the activity of non speculators is not sufficient to support current valuation or anything even close to it; even more so now that Silk Road has gone which did give Bitcoin some unique utility in terms of accessing that market.
Yup. You were right weren't you. That valuation could not be sustained
.
It can't. The market can certainly remain irrational for a good while yet, but longer term all these currencies are headed straight back to whence they came: zero.
14.
Post 3774597 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.30h):
With the announcement that gox and possibly coinbase is accepting litecoin trading. Do you think altcoins are going to affect bitcoin negatively? I mean people looking to get rich quickly would probably rather buy the cheaper coin than bitcoin. This is going to get complex.
Oh noes. Competition!
15.
Post 3793408 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.31h):
Let's be clear. Bitcoin isn't a currency or a store of value, it's just the crack cocaine of speculation.
16.
Post 3793517 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.31h):
Gox plunge protection team working hard to support the price. Nicely timed site takedown too
17.
Post 3793531 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.31h):
Gox is just pure manipulation at the moment
18.
Post 3793552 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.31h):
Gox is just pure manipulation at the moment
Hahah yeah but it works, back at 1000 in 3... 2... 1...
Not so sure, seems to be a mighty struggle underway between true price discovery and Gox price manipulation
19.
Post 3854536 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.33h):
Right on schedule Gox pulls the site to try and protect the price.
20.
Post 3859268 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.33h):
Exchanges are trying to manipulate the price back up. Be careful not to get suckered into their game.
21.
Post 3859316 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.33h):
Predictions?
Exchanges have manipulated the price back up in the hope of preventing an all out crash. It will fail, and a lot of people will get burnt
22.
Post 3859369 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.33h):
Predictions?
Exchanges have manipulated the price back up in the hope of preventing an all out crash. It will fail, and a lot of people will get burnt
23.
Post 4035105 (copy this link) (by revans) (scraped on 2020-04-04_Sat_11.42h):
24.
Post 10039739 (copy this link) (by revans) (scraped on 2020-04-04_Sat_13.44h):
We will hold strong at 250. For the next few days or weeks....then it's an uptrend for the rest of the year. MARK MY POST.
Will do, dickhead.