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

[ChartBuddy]

Coin
Explanation

[1714304537]

1714304537

[Fakhoury]

Decentralized decision making, hashing toward a better bitcoin

wouldn't this make you bullish as fuck if this kinda system was in place?

I like you Adam but this is so wrong I'd sell all my bitcoins the day we even consider using this decision process

Why ?

Because

Bitcoin is not a democracy and in the hopes it prospers it shall never be.

Democracy is the rule of the mob.

Bitcoin is a consensus system. Anyone trying to contaminate it with "democractic" process is proposing an attack at the heart of Bitcoin ethos.  

It is beyond me how anyone could still be fooled by the pipe dream of democracy anyway.

You've all my respect.

[Fatman3001]

Decentralized decision making, hashing toward a better bitcoin

wouldn't this make you bullish as fuck if this kinda system was in place?

I like you Adam but this is so wrong I'd sell all my bitcoins the day we even consider using this decision process

Why ?

Because

Bitcoin is not a democracy and in the hopes it prospers it shall never be.

Democracy is the rule of the mob.

Bitcoin is a consensus system. Anyone trying to contaminate it with "democractic" process is proposing an attack at the heart of Bitcoin ethos.  

It is beyond me how anyone could still be fooled by the pipe dream of democracy anyway.

[ChartBuddy]

Coin
Explanation

[hdbuck]

you are wrong fatman, im not sure either you are stupid or naive.

to stay polite. because you seems to be a genuine bitcoiner but just not getting it.

[Fatman3001]

you are wrong fatman, im not sure either you are stupid or naive.

to stay polite. because you seems to be a genuine bitcoiner but just not getting it.

[hdbuck]

right facepalm as much as you want.



so smart dude.

[Terwa]

you are wrong fatman, im not sure either you are stupid or naive.

to stay polite. because you seems to be a genuine bitcoiner but just not getting it.

hahaha best facepalm ever!

[luckygenough56]

time to crack 220 ?

[Wekkel]

time to crack 220 ?

Crack 200 if it remains so weak.

[Fatman3001]

right facepalm as much as you want.



so smart dude.

[aztecminer]

time to crack 220 ?

Crack 200 if it remains so weak.

the fork had no affect on bitcoin price. this is normal nothing is going on bitcoin price pattern.

[Wary]

Democracy is the rule of the mob.
Bitcoin is a consensus system. Anyone trying to contaminate it with "democractic" process is proposing an attack at the heart of Bitcoin ethos.  

Imagine we have a project that requires consensus. You've invested 1M$ and I've invested 1$. Now I would be able to blackmail you, not giving you my consensus until you give me most of your M$. And in the long run nobody will invest in such a project. So if you want a project to work, you'll have to use force against me, obstructing minority, i.e. to switch from consensus to democracy.

At consensus minority blackmails majority. And those who care less win.
At democracy majority oppresses minority. And brute force wins.
The both systems are inherently bad.

The good solution is the free market.

[Terwa]

time to crack 220 ?

220 is a very strong resistence, it not easy broke it

[brg444]

Democracy is the rule of the mob.
Bitcoin is a consensus system. Anyone trying to contaminate it with "democractic" process is proposing an attack at the heart of Bitcoin ethos.  

Imagine we have a project that requires consensus. You've invested 1M$ and I've invested 1$. Now I would be able to blackmail you, not giving you my consensus until you give me most of your M$. And in the long run nobody will invest in such a project. So if you want a project to work, you'll have to use force against me, obstructing minority, i.e. to switch from consensus to democracy.

At democracy majority oppresses minority. Brute force wins.
At consensus minority blackmails majority. Those who care less wins.
The both systems are inherently bad.

The good solution is the free market.

Consensus =! Unanimity

If you only have 1$ at your disposition then you are by definition poor and at a disadvantage over someone with millions. In an ecosystem as big as BTC this will make you an outlier and no matter how strong you shout your voice will not be heard because it is not respected.

Stop throwing "free market" around as if it makes any sense or is relevant in that situation.

[ChartBuddy]

Coin
Explanation

[Cconvert2G36]

Mining pools may vote with the software they use to make blocks. Smaller miners can delegate their influence to the pool (i.e. their representative).

Mining pools are highly incentivized to come to a consensus on what a valid block is, and what the longest chain is/will be. It is in the pool's best interest to please as many of their customers (buyers and users of bitcoin) as possible.

This whole XT drama has shown us that Bitcoin isn't ruled by the Core devs, in fact, there is a free market for bitcoin software. I think economic incentives influencing individual actors trying to act rationally will rule the day. Either by continuing to use software from the Core group, or using other software if the Core group isn't developing in line with what the market wants. 

 

[sAt0sHiFanClub]

Stop throwing "free market" around as if it makes any sense or is relevant in that situation.

Jesus, you really are batshit crazy.  You are afraid that stakeholders might act in the best interest of Bitcoin, and not in the self interest of a private for-profit company which controls 80% of Bitcoin Core.

[Wary]

Imagine we have a project that requires consensus. You've invested 1M$ and I've invested 1$. Now I would be able to blackmail you, not giving you my consensus until you give me most of your M$. And in the long run nobody will invest in such a project. So if you want a project to work, you'll have to use force against me, obstructing minority, i.e. to switch from consensus to democracy.

At democracy majority oppresses minority. Brute force wins.
At consensus minority blackmails majority. Those who care less wins.
The both systems are inherently bad.

The good solution is the free market.

Consensus =! Unanimity

Right. Unanimity is the end result.
Consensus is process of reaching this unanimity.
The process consists of cliques blackmailing each other until the one who cares less wins.

If you only have 1$ at your disposition then you are by definition poor and at a disadvantage over someone with millions. In an ecosystem as big as BTC this will make you an outlier and no matter how strong you shout your voice will not be heard because it is not respected.

I took these numbers - 1M$ against 1$ to make it more clear for you. However, the same principle works in any "consensus" situation, including bitcoin core dev consensus.

Stop throwing "free market" around as if it makes any sense or is relevant in that situation.

In that situation it does. BTW, I'm preparing a post about it right now.

[ChartBuddy]

Coin
Explanation