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

[YamashitaRen]

What are your thoughts on this distribution?

I would have loved to be an early adopter... Too bad I only heard about it during Mt. Gox bubble...

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[Wekkel]

...

please could you put the text on archive.is or a pastebin?

https://pastebin.com/wXBgpf28

You´re welcome!  

https://archive.is/ZJChP

many thanks

btw some people on twitter unsure if article is entirely genuine. time will tell
time told: backup http://satoshi.nakamotoinstitute.org/emails/cryptography/5/
http://diswww.mit.edu/bloom-picayune/crypto/137796
 

"But good lord, what we started."

The concerns about people doing ICOs seem small in terms of what the broader perspective is. An change in how we, humanity, trade value and organise one of our most important binding elements in society, our currency. But the guy cries about ICOs  

But perhaps I am mistaken and have not understood his concerns correctly.

[Ibian]

Let´s get back to talking about Bitcoin.
This IQ discussion is not really relevant to the BTC/USD price.
Unless someone of you would link a study that shows a correlation
between high IQ and a large stash of Bitcoin.

Talking about large amounts of BTC:


This graphic really illustrates how many BTC some of the early adopters own.
Some crazy other stats as well!

What are your thoughts on this distribution?

A study like that would never get funding (or ethical approval, probably), but we can hypothize easily enough: it takes a minimum level of smarts to understand bitcoin and money at the same time and to operate both safely. Done and done.

As for the chart, classic pareto distribution (pareto is now a word, spellcheck. no i did not mean to type potato.). It seems like a law of nature. Jordan Peterson talks about it, fascinating stuff.

[xhomerx10]

Anyone here from Romania?

 I am presently in Romania.  I had planned on going to the Bitcoin meeting pe Baricade this evening but Bucuresti was all but shut down due to a storm scare and my wife didn't want me to go out.  I think the storm only grazed us as it seems it was further north.  Maybe next time!

[Ibian]

What are your thoughts on this distribution?

I would have loved to be an early adopter... Too bad I only heard about it during Mt. Gox bubble...

It's still early. Yes even now.

[conspirosphere.tk]

Putting aside the racist parts of your rants, I don't see anything the alt-right is obsessed with that would expel usury parasites off the back of humanity. For starters they champion a billionaire president !

Money is not evil, comrade. Otherwise you might be in the wrong place.

Problem is that the POTUS is an orange jew.

[Samarkand]

...
A study like that would never get funding (or ethical approval, probably), but we can hypothize easily enough: it takes a minimum level of smarts to understand bitcoin and money at the same time and to operate both safely. Done and done.

As for the chart, classic pareto distribution (pareto is now a word, spellcheck. no i did not mean to type potato.). It seems like a law of nature. Jordan Peterson talks about it, fascinating stuff.

I agree that the topic of the study would be too politcally incorrect in order to get funded  
However, I disagree with the second part of your statement.

In order to use Bitcoin you don´t really need an outlier IQ. A person with a slightly sub-average IQ (let´s say 90) may not
understand the technical details of Bitcoin, but will be able to operate a Coinbase account or a blockchain.info wallet.
The same is valid for sites like Circle where the user of the service may not even be aware that the whole
project is based on Bitcoin.

Yes, pareto distribution is really a fascinating topic!

[Last of the V8s]

"But good lord, what we started."

The concerns about people doing ICOs seem small in terms of what the broader perspective is. An change in how we, humanity, trade value and organise one of our most important binding elements in society, our currency. But the guy cries about ICOs  

But perhaps I am mistaken and have not understood his concerns correctly.

It is a bit odd that lengthy moan. Cynics might say it is the moan of an early adopter who didn't cash in or hodl or something, but idk.

praising the code seems odd too.

[Ibian]

Putting aside the racist parts of your rants, I don't see anything the alt-right is obsessed with that would expel usury parasites off the back of humanity. For starters they champion a billionaire president !

Money is not evil, comrade. Otherwise you might be in the wrong place.

Problem is that the POTUS is an orange jew.

He is also a hard K and seems to actually have the interests of his country in mind.

[Last of the V8s]

Instead of racism and name calling, let's talk about bigger world issues.
... AI ...

AI died in the 70's. Basically computers can't er compute. Thus and therefore it's just a sideshow.
whole article and writer is good, but especially this comment https://scottlocklin.wordpress.com/2017/09/02/ai-and-the-human-informational-centipede/#comment-15530

Hate to break it to you, but we're really just getting started with AI. It's utter silliness to say it died in the 70's.

read the article?

[Ibian]

...
A study like that would never get funding (or ethical approval, probably), but we can hypothize easily enough: it takes a minimum level of smarts to understand bitcoin and money at the same time and to operate both safely. Done and done.

As for the chart, classic pareto distribution (pareto is now a word, spellcheck. no i did not mean to type potato.). It seems like a law of nature. Jordan Peterson talks about it, fascinating stuff.

I agree that the topic of the study would be too politcally incorrect in order to get funded  
However, I disagree with the second part of your statement.

In order to use Bitcoin you don´t really need an outlier IQ. A person with a slightly sub-average IQ (let´s say 90) may not
understand the technical details of Bitcoin, but will be able to operate a Coinbase account or a blockchain.info wallet.
The same is valid for sites like Circle where the user of the service may not even be aware that the whole
project is based on Bitcoin.

Yes, pareto distribution is really a fascinating topic!

I didn't say outlier iq, just a minimum level of smarts. I deal in person with bitcoiners regularly and I have so far only met one person who I would not classify as an intelligent and conscientious person. But think of how dumb the average person is, and then realize that half the population is even dumber than that.

Personality probably also plays a role in how well people handle it, but that's still in the hypothetical.

[practicaldreamer]

.. from a man who reviewed Bitcoin code in 2008.

Cryddit surely ?

[rjclarke2000]

Who the hell is Milo?

[practicaldreamer]

.. from a man who reviewed Bitcoin code in 2008.

Cryddit surely ?

Definitely Cryddit - 'Once Bitcoin became successful, there were copycats. More than three thousand short-lived cryptocurrencies using the same protocol have been launched. At this date most are no longer extant. For a while I tried to keep track of them as they passed, and tried to record at least a few words about how and why each one failed. But I couldn't keep up, and besides, it was too depressing.'


Its legit.

[Wekkel]

'[...] besides, it was too depressing.'

I am sensing some strong convictions about what freedom should be all about.

But when people talk about money, brains hasten out of the back door into the woods, never to be seen again in the conversation, and everything that is considered a given and completely normal in real life, is suddenly turned upside down.

[Ibian]

Who the hell is Milo?

A gay jew on the right who likes to trigger people.

[practicaldreamer]

But when people talk about money, brains hasten out of the back door into the woods, never to be seen again in the conversation, and everything that is considered a given and completely normal in real life, is suddenly turned upside down.

I think, in a well articulated nutshell, you have just encapsulated Cryddits concerns.

I know this is a speculation thread and everything, but who amongst us, that aren't just here for the quick buck and who actually 'believe', hasn't had concerns over how something as pure as bitcoin could be commandeered by influences something less than benevolent ?

[xhomerx10]

https://www.cryptocoinsnews.com/chinese-bitcoin-exchange-executives-banned-leaving-country-report/

I wonder when the disappearings begin.  How sadly oppressive.

[Ibian]

But when people talk about money, brains hasten out of the back door into the woods, never to be seen again in the conversation, and everything that is considered a given and completely normal in real life, is suddenly turned upside down.

I think, in a well articulated nutshell, you have just encapsulated Cryddits concerns.

I know this is a speculation thread and everything, but who amongst us, that aren't just here for the quick buck and who actually 'believe', hasn't had concerns over how something as pure as bitcoin could be commandeered by influences something less than benevolent ?

I am here for a really huge quick buck which will only be possible if my belief in the bitcoin fundamentals are correct and obviously our Great Leaders won't like something they can't control. Does that count?

[practicaldreamer]

But when people talk about money, brains hasten out of the back door into the woods, never to be seen again in the conversation, and everything that is considered a given and completely normal in real life, is suddenly turned upside down.

I think, in a well articulated nutshell, you have just encapsulated Cryddits concerns.

I know this is a speculation thread and everything, but who amongst us, that aren't just here for the quick buck and who actually 'believe', hasn't had concerns over how something as pure as bitcoin could be commandeered by influences something less than benevolent ?

I am here for a really huge quick buck which will only be possible if my belief in the bitcoin fundamentals are correct and obviously our Great Leaders won't like something they can't control. Does that count?

So long as you aren't trying to lead anyone up the garden path on the way, then yes, I can't see why that wouldn't count Ibian.

After all, your belief in the bitcoin fundamentals and your making a really huge quick buck are not mutually exclusive.

But pssst ... when you cash out don't cash out to dollars hey ? Maybe property or something.