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361  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 22, 2023, 06:53:48 AM

[...]


Bat-slappening / rusty-pipening incoming...  Grin
362  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 22, 2023, 06:46:44 AM
A different take on Bitcoin ETFs:

Cointelegraph — Bitcoin ETFs: Even worse for crypto than central exchanges

Quote
In the context of Bitcoin, ownership is very closely linked to control over the cryptographic keys associated with specific Bitcoin addresses. Now, it might be true that someone can own Bitcoin in a legal sense without having direct control over the keys — such as when owning an exchange account or holding an ETF share — but that is simply not a good idea in the Bitcoin world.

Bitcoin’s digital nature, perfect portability and global liquidity make it especially susceptible to embezzlement, theft or just basic mismanagement. The only way to truly own Bitcoin is to control the keys.

Some might welcome a possible short-term price pump associated with an approval of a major Bitcoin ETF (such as BlackRock’s), but the long-term impact on Bitcoin adoption would be likely negative (including the long-term price of Bitcoin). The only adoption that actually matters involves self-custody — everything else is a trap.

tl;dr: NYKNYC.
363  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 20, 2023, 08:03:42 PM
Pointless post, I know, but...

Sick & tired of $29xxx - $31xxx. Come on, Bitcoin, do something, blah blah blah...

Seeing $4xxxx in the summer/autumn will be something. I won't dare dream of ATH this year. Don't mind it coming in 2024 (as it will).

Life is good, but can always be better.

The 2024+ cycle will be major, even life-changing, for many of us. HoDL strong WOers, we're getting there!
364  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 16, 2023, 11:33:22 AM

As an AI bot,
I can't confirm or deny
Aliens are here.





We're all Satoshi.
Satoshi's an alien.
We're all aliens.
365  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 16, 2023, 06:15:13 AM
Black Rock ETF...
Needs to be approved, it seems...
Before UPpity.  Angry

#comeonbitcoindosomethinghaiku
366  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 13, 2023, 03:46:14 PM
The current 5-min chart looks nice.
367  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 09, 2023, 03:50:06 PM
Adding a digit to the price is always exciting. Many of us started with only 3 digits, then another one was added, and another. 3 --> 4  was exciting, 4 --> 5 was even more so. 5 --> 6 will be even bigger for many of us long-time HoDLers. Many of us will get deep into fuck-you status and can finally make some major changes to their lives. Late 2024 or 2025 will probably be that time. This means roughly 10 years of HoDLing/DCA. What a ride!



Ten years is nothing,
When you're on board the rocket.
This ain't OceanGate!

#blessedsundayhaiku
368  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 09, 2023, 03:31:01 PM
Look at yourself in the mirror.

We are all Satoshi.

We are Satoshi,
All as one are Satoshi,
It's what a mirror says. Grin

We have now become
A collective Satoshi
Supporting Bitcoin.

First is not a haiku, quick fix above.
369  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 09, 2023, 12:31:43 PM
This is Dorian Nakamoto in the picture. He is alleged Satoshi!
We don't know who is REAL Satoshi!

Dorian Nakamoto is traditionally used to represent Satoshi in memes, however unfair it is to him, because its a basic human desire to put a face behind an idea. Who should they use instead?

Maybe this one



Or this one



Look at yourself in the mirror.

We are all Satoshi.
370  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 03, 2023, 03:26:06 AM


Vegeta is ded.
371  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: July 02, 2023, 03:38:39 PM
Weak hands sold... Red dick.
Absorbed nicely by their ass.
I just pity them!

#weakhandsbouncehaiku
372  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 30, 2023, 05:31:29 AM
Damn. From green candle to bloody dildo. The balls are formed as we speak. Looks like I jinxed it.

Never mind, it will go up again.

$32k tonight, as Phil says.
373  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 30, 2023, 04:47:45 AM
Wow, what a GREEN candle, the size of which almost matches Bob's instrument of pleasure (or pain...)

What's the occasion? Did someone die?
374  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2023, 07:48:23 PM
Wasn't aware of Bill Leeb's bad aspects... Well, so be it, whatever it takes to create such beautiful works of musical art. It's probably more of Fulber's work anyway, considering his Conjure One creations.

Bill is more of a producer type, and an awful stage presence.

All of his underlings do the heavy lifting with the sound design and programming - Bill just basically phones in shitty FLA lyrics, puts the pieces together, and shambles about on stage like an old skeletal Beethoven or something.

They did an orchestral performance of FLA songs in Vienna, and I could not believe Bill didn't have the forethought to do an official recording of it, after speaking with him about it.

He's basically a shit business person that keeps his head above water by churning out material across various projects.

FLA is such a love/hate relationship.

Thanks for the comments and insights. I only know the music and I'm simply mesmerized by it. I don't know what it is, but I know it's there when I hear it. I could instantly tell that Conjure One and Delerium come from the same man. So you've met/spoken with Leeb? Did I get that right?

It's often like this, someone (usually the less talented one) takes care of business and PR while the true artists do their thing in the background.

Here's an old one (video is from another song by The Chemical Brothers, but fits perfectly):

Delerium — Flatlands
375  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2023, 03:16:24 PM

 Never meet your heroes.

 Bill Leeb is a self-important snobbish asshole, but Rhys Fulber on the other hand is the real talent in that project, and a pretty chill kinda guy.

 If you like Delerium, I'm sure you are aware of Conjure One, which I find just as appealing, if not more, sometimes.
 
 Rhys' solo work is something else entirely awesome.

Yes, I know and love Conjure One. I'm a huge fan of both. Wasn't aware of Bill Leeb's bad aspects... Well, so be it, whatever it takes to create such beautiful works of musical art. It's probably more of Fulber's work anyway, considering his Conjure One creations.
376  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2023, 10:54:32 AM
Going to zero.
Fucking going to zero.
Return to zero.


Delerium — Zero
377  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 25, 2023, 04:56:12 AM
My advice is
Don't keep Bacon off your plate.
Enjoy it while you can.

This was almost a haiku

My sage advice is
Don't keep bacon off your plate.
Enjoy while you can.

Taking it one step further...

You freakin' woke sluts,
Take your hands off peoples' plates!
Repressed omnivores.
378  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 22, 2023, 04:06:17 AM
I found this story fascinating:

Apparently, there was a 'bug" (or rather technically undefined area) in the original bitcoin code that would produce ANOTHER 21 mil btc starting in the year 256 from the get-go.
The "bug" was eradicated in BIP-42, which was done post-Satoshi.
Without BIP-42, rewards of 50BTC would restart in 256 years, then halvings would continue again (from 50btc/reward to down).

A bit of 'conspiracy' theory on my side, but how do we know that this was not the Satoshi's intent?
I keep reading about 4 mil 'lost" already in just 14 years.
What if Satoshi surmised that this loss in 256 years (with issuance stopping by year 2140) would bring available bitcoin numbers too low and actually designed the "bug" to revitalize bitcoin about a century after. Interesting, but would not affect things in our lifespan, perhaps.

See the discussion of BIP-42 here:
https://www.reddit.com/r/btc/comments/4r878s/in_case_you_missed_it_two_years_ago_bip_42_is/

You have a relatively creative imagination, yet what you are describing could not have been Satoshi's intent.

It does not make any sense to start the issuing of blockrewards over again at 50 coins per ever 10 minutes... that would really fuck up incentives and overall value... so that's a bug.. not a "hidden - true intention" of satoshi.

Perhaps it was not his intent, albeit we would never know, I assume, but, then, how to deal with bitcoin "evaporation"?
We, as a humanity, seem to have lost about 20% of ALL bitcoins that would ever be in a short 14 years.
I know that people dismiss it and say that the rest are just getting more valuable. True, but only in a short time.
However, think about it long term: a complete loss is inevitable within relatively short historical time frames.
So far, we were losing btc at a 1.36% 0.286% (of the total supply) a year.
With the same rate of loss going forward, it would be 59.5 350 years until all btc is lost.
If the loss would decrease by a factor of 10, then it is 595 3500 years.

I find it amusing that the original code of Satoshi had in it a "revitalization" of bitcoin by a new issuance cycle after 256 years.
As 256 is < than 350 (my original number), but > than 59.5 there might would still be some non-zero btc remain when the new "cycle' would supposedly start, according to the original code, therefore, bitcoin never 'evaporates' fully and instead, revitalizes. If the rate of loss remains at 1.36% a year, all bitcoin evaporates before even the original Satoshi's solution (or omission/caveat) can work.

There could be another solution (but I like Satoshi's better):
1. Change to the address system so everybody has to send their btc every, say, 50 100 years.
2. From that, surmise the actual "losses" and make a small random seepage of new btc, so total number never exceeds 21 mil. Not sure how to do it in code.

TL;DR All bitcoin will eventually "evaporate" according to the current code and historical human behavior. BIP-42 might have been detrimental to the future (hundreds of years from now).

EDIT: the math is even worse: 1.36% loss a year, see correction. We would need to know the average loss per year pretty soon, maybe in the next couple of decades.

Considering the fact that 1 BTC = 100,000,000 sat, the major BTC losses early in its history (Satoshi's "lost" coins, other large coin losses due to dumped HDDs, forgotten pins/seeds, etc.) can be diluted out, thus maintaining a pretty large count in available monetary transaction units (sat), while at the same time effectively raising the value of Bitcoin by absorbing and sharing the inactive units' value across all HoDLers. Of course, dormant addresses can potentially be reactivated at any moment, and the price will readjust for this. It is a beautiful, adaptive system that has proven time and time again that it works, and it works very robustly.

As for the 1.36% per year of lost coins, I expect this number to drop significantly when the big players jump in and the general public realizes the value of Bitcoin and how important it will be in the future of the global monetary system. It's easier to lose a worthless object than one which you almost know for a fact that is going to be worth millions in the near future.

Regardless, if the situation that you describe ever happens, there will be future BIPs that will take care of it, in a carefully planned and controlled manner, respecting the consensus rules, as has happened in the past. After 14+ years of near-perfect, proven performance, I do not fear the scenario you describe. The code will adapt as needed and when needed.
379  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 18, 2023, 04:09:50 PM
Inspiration comes,
To a man who met a girl,
Who made him feel love.

Life is beautiful,
Even in Bitcoin bear times,
The heart sweetly beats.

Nocoiner she is,
Corn education to come...
But keys stay with me!

#sundaylovehaikus
380  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: June 04, 2023, 05:22:37 AM
Damn it. Something's happening in WO... Too quiet. No heated debates, no rusty pipes, no Batslaps, no Dude's resto/pissing pics, no proudhon posts, r0ach probably died under a slab of gold or abandoned us, nullius fell in love with a Greek goddess and won't post anymore, Elwar's seastead sank and he abandoned ship... Hell, not even a post about Bob's ranch or Jimbo's lake projects. Have we really stooped so low?

Price drives everything it seems... Come on, Bitcoin, do something (like a mega-pump to ATH+)... We need some Carolinas and Choo-Choos to get things going!

Edit: No more lasers for me. Laser hat gets worn again when we reach 6 digits.
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