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

[explorer]

I'll just leave this here

Which squares represent fat banksters? 

[BTCMILLIONAIRE]

I'll just leave this here

Which squares represent fat banksters? 

Half of the human ones are the BIS dude.

[Tzupy]

Exchange incompetence reaches a new level in Japan...
https://www.coindesk.com/customer-tries-to-withdraw-20-trillion-in-crypto-exchange-glitch/

[realr0ach]

JayJuanGee post

Can you be more specific you hate-filled nutjob?   Probably not, because you don't really have anything to contribute beyond your various non-topical talking points.

JayJuanGee, can I interest you in a few trillion dollars of Jewish treasuries?

[jojo69]

I'll just leave this here



0% Billet AR-15 Lower Receiver

[JayJuanGee]

The American right wing conspiratard radio commentator. I don’t know his name but he talks about gay frogs. So he is gay frogs guy.

I believe that would be Alex Jones.

Sounds familiar so probably right.  

Gerald Celente was on Alex Jones yesterday (depending on your time zone) telling people to buy Bitcoin.

Do you have a link for that?  I feel like I wasted some of my life listening to Alex Jones trying to find it, and then the Gerald Celente crypto currencies part was at 2 hours 23 minutes and 30 seconds

https://www.youtube.com/watch?v=wwe_iMi8-fw

I did not even believe him to be recommending anything, and he does not really seem to know how to differentiate bitcoin from other cryptos because he said that the "valuable ones" are the ones that offer a kind of product, and I have recently been seeing that kind of bullshit discussion that in order to be valuable cryptocurrencies have to offer a product.

Accordingly, cryptocurrency pundits miss the whole fucking idea (or product of bitcoin), and they fail to realize that bitcoin is the actual product because of what it actually offers in terms of liberating folks from traditional money's control over you.

Furthermore, Alex Jones is no where to be seen, and what Alex needs is to have someone on his show specifically informing him about the Roger dat bullshit, and maybe even have an ability for both Roger and a regular bitcoin supporter to debate... someone who can hold their own to Roger.. which should be anyone who is fairly knowledgeable about bitcoin, and understands the bullshiterie of Bcash.

Also, if Roger were to go on a little rant that he does not want bcash to be called bcash, then perhaps the discussion should end at that point because roger can call his bcash anything that he wants, but if he will not engage with you because you continue to call bcash, bcash, then may as well not discuss the matter with the loonie...

 That was the show I was listening to (but I was falling asleep during it because it was after a night shift).  It starts around the 2hr40min mark.  He says follow the money and that's a segue into Switzerland and it becoming the crypto capital of the world.  He mentions they don't make specific recommendations, but he says crypto-currencies are "going North".  Then he talks about gold and right near the end of it, he says when gold hits 1400 or 1450 "it's gonna be a Bitcoin bounce baby!" - you kind of have to read between the lines but he's saying "Buy Bitcoin".

I find no reason to argue with you about whether Gerald Cerente is overall bullish about bitcoin and crypto, yet my point remains that it does not matter too much regarding how bullish he happens to be, because he seem to be caught up with fucked up premises that will likely interfere with his ability to differentiate bitcoin from other cryptos in meaningful ways.

Most bitcoin maximalists, including a large number of the ones participating in this thread (to the extent that they are not caught up in distracting and irrelevant social engineering hate nonsense discussions) recognize that bitcoin retains fundamental characteristics around proof of work that is not fundamentally characteristics of other cryptos, which includes bitcoin networking effects that are fairly established around bitcoin under largely free-market conditions that have really decent chances that bitcoin is going to come out top no matter what and no matter if some other snake oil alt becomes BIGGER than bitcoin in terms of market cap. 

TLDR:  I am just saying that Cerente does not seem to understand BTC fundamentals and what actually causes bitcoin to be valuable in an ongoing paradigm shifting kind of way and differentiated from other cryptos and other traditional asset classes.

[BTCMILLIONAIRE]

Exchange incompetence reaches a new level in Japan...
https://www.coindesk.com/customer-tries-to-withdraw-20-trillion-in-crypto-exchange-glitch/

Wonder if he would've managed to withdraw if he didn't go for such absurd sums.

[d_eddie]

I know offtopic posts are frowned upon here, and some topics are more off than other, but I'll risk it.

Have you heard about cryptocurrencies? Well there's this nifty thing called bitcoin, it's my favorite.
It's holding 10.5 k-ish.

[HairyMaclairy]

Even a small topic like why there is an NRA backed ban on research into gun violence would take a long time to do properly, even though on its face it’s a ridiculous law.  What is more anti-science than banning research ?

All over human history being forcefully disarmed was a synonym of being a slave or a prisoner. Maybe "research" that.

Australia had all their guns confiscated 25 years ago.  They haven’t had a mass shooting since.  And they don’t look like slaves.

Maybe not from your perspective...

The average Aussie bogan is far better off than the average Murican peckerwood.  For starters minimum wage is A$18.29 which is US$14.25.  

Of course I’m sure many here would say that paying a fast food worker $14 an hour is against the American Dream.  

[Elwar]

Even a small topic like why there is an NRA backed ban on research into gun violence would take a long time to do properly, even though on its face it’s a ridiculous law.  What is more anti-science than banning research ?

All over human history being forcefully disarmed was a synonym of being a slave or a prisoner. Maybe "research" that.

Australia had all their guns confiscated 25 years ago.  They haven’t had a mass shooting since.  And they don’t look like slaves.

Maybe not from your perspective...

The average Aussie bogan is far better off than the average Murican peckerwood.  For starters minimum wage is A$18.29 which is US$14.25.   Not many fast food workers in Georgia making $14 an hour.

Not many fast food workers in Australia

[HairyMaclairy]

Too busy drinking double shot Chai lattes?

[bones261]

The average Aussie bogan is far better off than the average Murican peckerwood.  For starters minimum wage is A$18.29 which is US$14.25.  

Of course I’m sure many here would say that paying a fast food worker $14 an hour is against the American Dream.  

US $14.25 still sucks. In fact US $18.29 would suck too.

[HairyMaclairy]

I’m sure minimum wage in {State} sucks more.

[wait for long rant about why minimum wage is an entry level job and an entry level job is not supposed to be a living wage]

Y’all with no back up plan other than being a Walmart door greeter better hope badger isn’t drunk again!

[bones261]

I’m sure minimum wage in {State} sucks more.

It definitely does. It is $7.25 an hour, for federal. In Colorado it is $10.20.

[vanobe]

The average Aussie bogan is far better off than the average Murican peckerwood.  For starters minimum wage is A$18.29 which is US$14.25.  
 

Doesn't Australia have incredibly high tax rates?

[BlindMayorBitcorn]

Y’all with no back up plan other than being a Walmart door greeter better hope badger isn’t drunk again!

Are there no prisons? Are there no workhouses?

[Biodom]

I'll just drop this here (it's one among 1000's) =>

https://www.realclearscience.com/blog/2016/02/is_there_really_a_sixth_great_extinction_maybe_not.html

1. don't believe anything that call itself "real science", because it ain't.
2. The refutation is the quote from Sarah Kaplan that says that there were more species going extinct in prior events.

Duh! Prior event lasted for hundreds of thousands, even millions of years and
here we have 1% vertebrate extinction in 100 years.

1% in 100 years is a pretty big number IF it continues, but why won't it?

I think you need to balance that with discoveries.  It's like saying x people die every year, so the population will be zero in xy years.

https://imgs.xkcd.com/comics/extrapolating.png

Which discoveries?
The example is not fitting since I was talking about multiple independent events and you are talking about one individual.

Here is an example of a proper extrapolation: if there are only A, C, G and T nucleotides present in DNA, than I only need to measure the % of one nucleotide (say, A) to find out the %% of all four. No need for further discoveries (in this example).

another one: if we grow turkeys for slaughter and ALL turkeys are grown for less than 3 years, what is the probability of a turkey, which is 1000 days old not to live beyond day 1096. About 100%.

[d_eddie]

Some time ago we had a discussion here about a possible issue with the Lightning Network. Some big blocker was suggesting that the Lightning Network is doomed to fail because routing and because problems.

The potential problem is similar to a double spend attempt. Briefly and roughly: Alice has a channel with Bob, Alice sends funds to Bob and while Bob is offline she broadcasts the channel state as it was before she spent the funds, thus undoing the spend. However, if anyone broadcasts the correct (later) channel state, Alice is done: the whole channel balance goes to Bob. Serves her right for trying to cheat.

The problem is, if Bob's offline he knows nothing about Alice's wrongdoings, so there must be someone watching the channel for him. This someone could be rewarded by Bob with part of the funds if cheating is discovered (and therefore funds are gained by Bob). I speculated that a bounty market could come into existence. It seems there are already some bounty hunters in the present, clunky version of the LN. They are doing it for free at the moment, since the cost of watching a few channels is negligible.

It's in the comments. The video itself is technical. Mention of the bounty hunters was the topic that spurred the most attention in the discussion.

https://www.reddit.com/r/Bitcoin/comments/7xrq5g/lightning_network_and_discreet_log_contracts/

[Elwar]

Some time ago we had a discussion here about a possible issue with the Lightning Network. Some big blocker was suggesting that the Lightning Network is doomed to fail because routing and because problems.

The potential problem is similar to a double spend attempt. Briefly and roughly: Alice has a channel with Bob, Alice sends funds to Bob and while Bob is offline she broadcasts the channel state as it was before she spent the funds, thus undoing the spend. However, if anyone broadcasts the correct (later) channel state, Alice is done: the whole channel balance goes to Bob. Serves her right for trying to cheat.

The problem is, if Bob's offline he knows nothing about Alice's wrongdoings, so there must be someone watching the channel for him. This someone could be rewarded by Bob with part of the funds if cheating is discovered (and therefore funds are gained by Bob). I speculated that a bounty market could come into existence. It seems there are already some bounty hunters in the present, clunky version of the LN. They are doing it for free at the moment, since the cost of watching a few channels is negligible.

It's in the comments. The video itself is technical. Mention of the bounty hunters was the topic that spurred the most attention in the discussion.

https://www.reddit.com/r/Bitcoin/comments/7xrq5g/lightning_network_and_discreet_log_contracts/

Problem, meet solution.

[xhomerx10]

Exchange incompetence reaches a new level in Japan...
https://www.coindesk.com/customer-tries-to-withdraw-20-trillion-in-crypto-exchange-glitch/

Wonder if he would've managed to withdraw if he didn't go for such absurd sums.

 It really does sound absurd.  Let's look at it - $20,000,000,000,000 worth of Bitcoin (at least that's the story)

I know offtopic posts are frowned upon here, and some topics are more off than other, but I'll risk it.

Have you heard about cryptocurrencies? Well there's this nifty thing called bitcoin, it's my favorite.
It's holding 10.5 k-ish.

 If we divide the current value into the exchange glitch number we get

 ~1,904,761,904 Bitcoins?

 #Helluvaglitch!