1664
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: June 26, 2018, 09:56:37 PM
|
Does that really mean the bottom is not "in" yet? And that BTC prices have decent chances to touch upon $5k and perhaps go below that? Perhaps. But we also have seen these kinds of doom and gloom predictions previously, and for some reason the sellers ran out of coins. I am not saying that I know, but I could not see giving very much greater than 50/50 odds to such a downward scenario, even any kind of need or decent chance of touching $5k. Maybe 55% would be reasonable? Perhaps? I'm with you, Jay. Yes, it's "possible" to go down lower than previous low on Stamp set at $5,780.00. That low went below the Selling Climax low in February set at $5,920.72 on BitStamp. That drop below the lowest boundary of the trading range ($5,920.72) signaled the existence of a Wyckoff Accumulation Schematic #1 and not #2. Which also signaled a STRONG possibility of a Spring (reversal to the upside) and a future TEST of the lower boundary of the trading range one more time before reversal is in the bag. Even my indicators are showing bottom is near. Where that bottom will be remains to be seen. You may be interested in that link I posted. He also has us in a Wyckoff accumulation 1 pattern, but his counts are a little different.
|
|
|
1666
|
Bitcoin / Development & Technical Discussion / Re: Is POW systematically doomed to get a huge monster in its midst?
|
on: June 26, 2018, 06:04:23 PM
|
By 2015, my ex had depleted my remaining $100k and I was destitute and becoming more ill stuck in poverty in Mindanao with no health insurance, no options to leave, and backwater provincial third world health care system. No family members at all who can help me with anything.
Are you still there? My wife is from Davao. I visited once with her about 4 years ago. It was a pleasant experience. She wants to move back, but I'm quite wary. It seems the Muslim situation in Mindanao has deteriorated. She thinks Davao is insulated from that, but I'm not so sure. Also even if they are thinking logically their communication range can be too high for the person more than two standard deviations below them to understand. Because they’re building abstract models that are incomprehensible to those 2 or 3 standard deviations below them. So if their behavior or communication appears to be gibberish, it may actually not be.
That's true
|
|
|
1667
|
Bitcoin / Development & Technical Discussion / Re: Why do some people believe that only the nodes miners run matter?
|
on: June 26, 2018, 04:49:31 PM
|
I think some of you will find this very interesting: https://www.youtube.com/watch?v=YMvI73jJ6ucI would recommend at least watching from 28:00-33:00 (by that point you'll be hooked ). Andrew DeSantis explains the importance of the Satoshi address format, the importance in maintaining the continued, shared heritage with the genesis block , and its address format, etc. He also implies around 31:40 that the Satoshi fork will be very valuable there will be a Satoshi fork, since it contains the last 10 years of data on the blockchain. There are known and emergent properties of the Satoshi address format that will be lost forever when we switch to bech32 addresses. He posits that this change in address format, which no one seems to question, may break the bitcoin incentive system in unexpected, and even currently unknown, ways.
|
|
|
1668
|
Bitcoin / Development & Technical Discussion / Re: Is POW systematically doomed to get a huge monster in its midst?
|
on: June 26, 2018, 04:29:31 PM
|
Core has some guys with reasonably high IQs. Maybe up in the 145 range or so. But I would roughly guess that Mircea Popescu is in the 160 - 180 IQ range. There was some brief attempt by Gregory Maxwell to grandstand in a discussion thread and Mircea Popescu wiped him with the floor. It wasn’t even close. Gregory then proceeded to STFU. He had actually banned M.P. from some discussion or something (back when M.P. was still willing to communicate outside his own IRC freenode), I forgot the details. I don’t have time to go searching for that specific discussion. The difference is akin to the digitization of flowers example I showed you (see quote below). We can presume that Mircea Popescu has surrounded himself with other such geniuses and it is unlikely they are mistaken. Note rpietila has an IQ of 167, and I have no idea what happened to my friend. I’ve been too overloaded to apply the effort into researching whether he is faking losing all his wealth or if he has mental stability problems. So by that I mean genius IQ is not the sole factor. Another issue is the socialization of the Core developers who have ostensibly adopted progressive, social justice philosophy (i.e. irrational belief in democracy and other psychosis) which thus blinds them to new objectivity of John Nash’s Ideal Money. I would note that some geniuses and high IQ individuals have trouble communicating well verbally. Also, some don't have the debate skills, or ordered, logical thinking skills necessary. There are very few people above that ~145 IQ level who are well-rounded individuals. Perhaps Risto is a good example of that. The last I heard, he was in a group home of some sort (a lite loony bin). It was well known that he was manic depressive. He had started his online RPG world (Crypto Kingdom), which had developed a fairly large economy (millions of real life dollars in value). For some reason, he went off his meds and everything went downhill. He lost all of his Monero, and his wife divorced him. Running Crypto Kingdom while he was in a state of mania, he began to see himself as a god. I think he was still accepting Monero, but for withdrawals, he was sending people his imaginary Crypto Kingdom fiat.
|
|
|
1671
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: June 25, 2018, 10:46:11 PM
|
There are soo many Projects going on in crypto right now. I really wonder if Bitcoin will still be the main driver in crypto in the future. It's quite possible that a new coin takes over the lead for the next run.
Runaway speculation in a shitcoin could result in the short term threat of a flippening, as we saw happen with ETH last year. I think it's possible we could have one more good bubble led by shitcoins and ICOs. Any shitcoin run is temporary, however. Bitcoin is Bitcoin, and it's too late to stop it.
|
|
|
1673
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: June 25, 2018, 02:35:27 AM
|
My plan is, from what I gather, similar to Bob's. I'd like to sell just under 50% of my crypto, put the proceeds in stocks, withdraw the standard 4% or so per annum, and let the remaining corn ride. I will only do so when I can maintain or increase my current income. Bitcoin will be used for cars, airfare, and hookers.
I'm reluctant to invest in stocks. This is one of the longest stretches without a crash, and given that we live in a world with record-breaking debt, that's not a great place to be. Very true, but I wouldn't feel comfortable retiring anytime soon with all of of my money in bitcoin either. It's still too volatile, unless you have at least 1,000+, in which case the volatility doesn't matter as much. And most other investments suck.
|
|
|
1674
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: June 24, 2018, 10:41:31 PM
|
Doesn't make any sense to sell now even if its headed to sub $4k.
I don't totally agree with this, obviously. But good luck. Funny story. I was mumbling to Rick just earlier today about "Well, if we're in a fucking bear market, maybe I should sell some Corn and re-buy when it goes lower." Price was dropping down to $5,800 when I grumbled that. Rick's all like "Fuck that man. You're retired. Your stack is too high. Don't risk it." I shit you not. 30 minutes later, big-ass spike back above $6k. You can all thank Rick for me not doing something stupid, like taking a dump, I guess. My personal goal is to get enough fiat to be set for life (at current valuation, at least) and then just let the rest ride. Billionaire or bum, I don't do anything halfway. My plan is, from what I gather, similar to Bob's. I'd like to sell just under 50% of my crypto, put the proceeds in stocks, withdraw the standard 4% or so per annum, and let the remaining corn ride. I will only do so when I can maintain or increase my current income. Bitcoin will be used for cars, airfare, and hookers.
|
|
|
1675
|
Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
|
on: June 24, 2018, 10:25:42 PM
|
What's the world cup?
It's not complicated for anyone except our US brethren It's a competition where the winner gets a cup (a nice shiny one). But then it is a little tougher to explain. You see the use of the word 'World' in this instance means literally EVERY contry in the world can enter their national team in it. Unlike in America where the use of the word 'world' in sport (e.g. the baseball World Series) can mean only teams based in America normally take part. Now to further complicate things the competition is for playing what most countries in the world refer to as 'football'. This is a game played by people using mainly their foot to kick a spherical ball. Of course in America 'football' refers to a strange game which involves an egg-shaped object largely carried in the hands. Actually more like a sort of 'egg-hand-ball'. The World Cuo and indeed 'football' is rather popular worldwide, but not so in the USA, sadly. I guess it's just not exciting enough. sorry - very bored on a long hall flight.Thanks for the explanation. I'm in the US, so that makes a lot of sense. I'll have to figure out the metric system next.
|
|
|
1678
|
Bitcoin / Development & Technical Discussion / Re: Is POW systematically doomed to get a huge monster in its midst?
|
on: June 23, 2018, 10:46:09 PM
|
Some more good info from the logs: mircea_popescu: ben_vulpes and block depth. if you make segwit tx a to me at height 1 and i put it into a normal tx at block 2, i can spend it from block 3 as my bitcoin, the segwitnmess is gone out of it. to steal it from me, one has to rewind all the way to block 1 again. which is possible, but expensive as the chain builds. mircea_popescu: now, if this is the plan it's not a very good one (you can bury a segwit tx into legitimate spending which is deep enough to not be practically reorg-able) but anyway mircea_popescu: exactly the same play. oh, we "buy" bitcoin crash. if it takes, it's good. if it doesn't take, guess what, segwit unroll later.
|
|
|
|