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

[ChartBuddy]

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[1714698176]

1714698176

[Patel]

Just watched Patrick Byrne's announcement.  Basically he announced "t0.com" (tee-zero), a registry for asset ownership that uses ~~the~~ a blockchain to record actual ownership of stocks and similar things.  He claims it will give shareholders actual ownership of the shares, and contrasted it with the current system, under which a shareholder does not actually own a share of the company, but only has an IOU from a privileged company that actually owns all the shares.

They are ging to use the Bitcoin blockchain at first, but he said something like "It is ledger agnostic - it can work on Bitcoin, on Ripple, and on another one we are working with but can't tell you yet".

nice summary

[jbreher]

Just watched Patrick Byrne's announcement. 

I raced onto Ustream as soon as I saw it posted here. Arrived about 45 minutes in.

I found his statement that securities lending (e.g. owners of securities lending them to hedge funds in order to allow options and other derivatives) make up 40-45% of the profits of big wall street firms interesting. The spreads involved (if indeed his claims are valid) are usurious. His example had the middleman pocketing 95% of the costs of this activity. He claims that t0 can tokenize this ownership. Once tokenized, these rights can be traded on a (the?) blockchain. This would disintermediate all but the tokenization process, leading to significant (read that a la Trump saying 'uuuuuge) savings for both buyer and seller. And replacing regulation made of fallible human controls with regulation made of algorithm.

I don't know anything about large-scale finance, but I find this extremely interesting news. Oh yeah - and bullish.

[ticoti]

7 Chartbuddy posts on 1 page, damn it's dead around here

lateral market signal

[ChartBuddy]

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[shmadz]

Ahhh, the good old dog days of summer... price is just barely limping along... feels like it could drop any minute now, but support has been pretty strong (or perhaps the sellers have just run out of steam?)

s-i-d-e-w-a-y-s   a-l-l   s-u-m-m-e-r   

[ChartBuddy]

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[ChartBuddy]

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[JayJuanGee]

I did attempt to clarify for him, but he kept saying that he does NOT understand, and that he is NOT going to invest into anything that he does NOT understand.

People who do not understand something should not invest in it. But they should also STFU.

When talking to people like this, sometimes I get the sense that I am receiving a live troll job, because they get you to go through a detailed, specific and extensive explanation, and then afterwards they act as if they did NOT understand a damn thing that was said (even though you know that they are smarter than that).

[ChartBuddy]

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[ChartBuddy]

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[Cconvert2G36]

I did attempt to clarify for him, but he kept saying that he does NOT understand, and that he is NOT going to invest into anything that he does NOT understand.

People who do not understand something should not invest in it. But they should also STFU.

When talking to people like this, sometimes I get the sense that I am receiving a live troll job, because they get you to go through a detailed, specific and extensive explanation, and then afterwards they act as if they did NOT understand a damn thing that was said (even though you know that they are smarter than that).

A real troll job would have been if they asked you your unrealized gain/loss on being so smart.

Edit: Sorry JJG, I admire your principled stance. Like a monkey... I sometimes grab the low hanging fruit.

[coinpr0n]

Just watched Patrick Byrne's announcement.  Basically he announced "t0.com" (tee-zero), a registry for asset ownership that uses ~~the~~ a blockchain to record actual ownership of stocks and similar things.  He claims it will give shareholders actual ownership of the shares, and contrasted it with the current system, under which a shareholder does not actually own a share of the company, but only has an IOU from a privileged company that actually owns all the shares.

They are ging to use the Bitcoin blockchain at first, but he said something like "It is ledger agnostic - it can work on Bitcoin, on Ripple, and on another one we are working with but can't tell you yet".

Sounds pretty cool. It's sorta what I imagined after hearing the announcement of a "surprise" on Twitter. Good news!

Meanwhile, price dropping. My node tells me the mempool is 30k. Blockchain.info says 6k and Tradeblock (after a few refreshes) says 50k.

[Fatman3001]

I did attempt to clarify for him, but he kept saying that he does NOT understand, and that he is NOT going to invest into anything that he does NOT understand.

People who do not understand something should not invest in it. But they should also STFU.

When talking to people like this, sometimes I get the sense that I am receiving a live troll job, because they get you to go through a detailed, specific and extensive explanation, and then afterwards they act as if they did NOT understand a damn thing that was said (even though you know that they are smarter than that).

I tend to avoid the word "crypto". Whenever I say "crypto" you can see their eyes become smaller and fade out completely. It's taken me a while to understand how severely people who don't understand Bitcoin don't understand Bitcoin.

I've been in talks with a former project manager for a chip developer for a couple of years and he is still asking questions which shows that he doesn't understand what Bitcoin is all about. And that guy is way smarter than me.

[ChartBuddy]

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[Cconvert2G36]

Come back blindmayorbitcorn, don't think for a second your flirting with that redditrollop has gone unnoticed...

[Natalia_AnatolioPAMM]

it's too calm in here now, I'm afraid we'll see the storm soon

[ChartBuddy]

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[Elwar]

Just watched Patrick Byrne's announcement.  Basically he announced "t0.com" (tee-zero), a registry for asset ownership that uses ~~the~~ a blockchain to record actual ownership of stocks and similar things.  He claims it will give shareholders actual ownership of the shares, and contrasted it with the current system, under which a shareholder does not actually own a share of the company, but only has an IOU from a privileged company that actually owns all the shares.

They are ging to use the Bitcoin blockchain at first, but he said something like "It is ledger agnostic - it can work on Bitcoin, on Ripple, and on another one we are working with but can't tell you yet".

This makes sense. t0.com will be an exchange. They are set up to use Open Assets right now but could probably integrate Colu, Counterparty, Factom, etc. It might be transparent as to which protocol you are using.

But each company will need to choose their protocol because once you choose it, you have to stick with it.

[ChartBuddy]

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