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

[orpington]

I agree it is the first most simplistic, and it's quite hard for it to deviate from its original consensus plan - a store of value, peer-to-peer electronic cash system that has an in-built decentralised transaction history with high-tech-class security. Nothing more should be expected from it, other than for a scaling function to accommodate mainstream usage; because, I think that's the only thing the developers didn't factor in during the early development phase. But for stability and predictability only a centralised system can achieve such regulatory benchmark.

I think that the development of bitcoin shows genius in software development, but not so much genius in financial implementation. Bitcoin is innovative and complex in the software perspective, but it is childish and silly in financial perspective. Modern economy needs a lot more then bitcoin is able to offer as an practical tool.
The system will always be centralized around something. The software development of bitcoin is centralized around specific people, and the financial markets of bitcoin are centralized around specific organizations and people. As long as there are people, there will always be natural centralization of systems around people who can do things that most others can't. This is not something that should be fought by itself.

honestly, what the fuck are you going on about anyways, and why?

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[Jacques_Bittard]

As long as you see it as just a payment network, or a financial protocol you will have trouble seeing it's true potential. It is a protocol that enables digital scarcity in a decentralized manner without the need for trust. It allows for hard promises. After a few blocks a transaction is effectively irreversible. So it has to be extremely expensive to 'overwrite history'. I mean overwhelmingly expensive. It's a feature, not a bug.

Will this scale to the entire population. Of course not! Nobody is saying it will not change and evolve. The current implementation is great for a settlement layer while the LN would be used as a payment network.

We have been running out of IPv4 addresses for the last 30+ years, but things still work. People have been hard at work and incrementally IP was able to handle more and more devices (Address Classes, Classless Inter-Domain Routing, NAT, ...).

You praise the blockchain technology in general Bitcoin doesn't equal the blockchain technology. I see that the blockchain technology isn't dependent on bitcoin and bitcoin value isn't guaranteed by the blockchain technology.
I think that you are bringing forward first mover advantage with the e-mail comparison. That the e-mail protocols mostly remained the same and this will probably make bitcoin remain dominant also.
I think e-mail can't be compared because of the simple nature of the problem they were solving. You can't exactly re-invent something as simplistic as a wheel. This new field of cryptos or financial protocols are a lot more complex and can improved a lot by re-inventive improvement. We have seen radical development with new generation cryptos in terms of speed, costs and practical usability. When comparing software, then cryptos could be compared better to the development of operation systems and other systems as complex. Not vintage communication protocols

[babanana]

As long as you see it as just a payment network, or a financial protocol you will have trouble seeing it's true potential. It is a protocol that enables digital scarcity in a decentralized manner without the need for trust. It allows for hard promises. After a few blocks a transaction is effectively irreversible. So it has to be extremely expensive to 'overwrite history'. I mean overwhelmingly expensive. It's a feature, not a bug.

Will this scale to the entire population. Of course not! Nobody is saying it will not change and evolve. The current implementation is great for a settlement layer while the LN would be used as a payment network.

We have been running out of IPv4 addresses for the last 30+ years, but things still work. People have been hard at work and incrementally IP was able to handle more and more devices (Address Classes, Classless Inter-Domain Routing, NAT, ...).

You praise the blockchain technology in general Bitcoin doesn't equal the blockchain technology. I see that the blockchain technology isn't dependent on bitcoin and bitcoin value isn't guaranteed by the blockchain technology.
I think that you are bringing forward first mover advantage with the e-mail comparison. That the e-mail protocols mostly remained the same and this will probably make bitcoin remain dominant also.
I think e-mail can't be compared because of the simple nature of the problem they were solving. You can't exactly re-invent something as simplistic as a wheel. This new field of cryptos or financial protocols are a lot more complex and can improved a lot by re-inventive improvement. We have seen radical development with new generation cryptos in terms of speed, costs and practical usability.

@Jacques_Bittard  please post your BTC address.

[mymenace]

As long as you see it as just a payment network, or a financial protocol you will have trouble seeing it's true potential. It is a protocol that enables digital scarcity in a decentralized manner without the need for trust. It allows for hard promises. After a few blocks a transaction is effectively irreversible. So it has to be extremely expensive to 'overwrite history'. I mean overwhelmingly expensive. It's a feature, not a bug.

Will this scale to the entire population. Of course not! Nobody is saying it will not change and evolve. The current implementation is great for a settlement layer while the LN would be used as a payment network.

We have been running out of IPv4 addresses for the last 30+ years, but things still work. People have been hard at work and incrementally IP was able to handle more and more devices (Address Classes, Classless Inter-Domain Routing, NAT, ...).

You praise the blockchain technology in general Bitcoin doesn't equal the blockchain technology. I see that the blockchain technology isn't dependent on bitcoin and bitcoin value isn't guaranteed by the blockchain technology.
I think that you are bringing forward first mover advantage with the e-mail comparison. That the e-mail protocols mostly remained the same and this will probably make bitcoin remain dominant also.
I think e-mail can't be compared because of the simple nature of the problem they were solving. You can't exactly re-invent something as simplistic as a wheel. This new field of cryptos or financial protocols are a lot more complex and can improved a lot by re-inventive improvement. We have seen radical development with new generation cryptos in terms of speed, costs and practical usability.

@Jacques_Bittard  please post your BTC address.

ha and here i am thinking bitcoin is a peer to peer currency only

been working for about 9 years

biggest transparent peer to peer network in the world - still very functional

and the bitcoin relies upon solved blockchain transactions.

[mymenace]

Meanwhile...

go , hope you hit your target

[conspirosphere.tk]

chart of the day:


https://www.tradingview.com/chart/BTCUSD/YkoWT0sN-BTC-weekly-parabolic-channel/

[Globb0]

Why do people think you don't reinvent the wheel?

The wheel is reinvented all the time for all sorts of applications.

[mymenace]

Why do people think you don't reinvent the wheel?

The wheel is reinvented all the time for all sorts of applications.

satoshi reinvented the wheel, after banks reinvented the wheel and so on and so on

shall we say its time to move on and re-invent again


it would actually be good to see peer to peer currency succeed first on a truly global scale before i would say the wheel has been reinvented

[Torque]

In this reality these things just don't have the needed mechanics for the job..
Don't take me as a pessimist by this. I think that in the future we will have an cryptoasset that is able to break this currency boundary and will be able to actually offer an predictable value without the need for the support of fiat value.

And this so called future cryptoasset would look like what exactly, Mr. Genius?

Put up or shut up. Criticize or create.

All you fkn idiot trolls are the same. You come with heaps of smarmy handwaving and criticism, but offer zero solutions.

[soullyG]

Support at $10k seems to be holding, gonna be an interesting weekend 

[Jacques_Bittard]

In this reality these things just don't have the needed mechanics for the job..
Don't take me as a pessimist by this. I think that in the future we will have an cryptoasset that is able to break this currency boundary and will be able to actually offer an predictable value without the need for the support of fiat value.

And this so called future cryptoasset would look like what exactly, Mr. Genius?

Put up or shut up. Criticize or create.

All you fkn idiot trolls are the same. You come with heaps of smarmy handwaving and criticism, but offer zero solutions.

It would look like a crypto asset with a value stabilization mechanism?

[Torque]

And this so called future cryptoasset would look like what exactly, Mr. Genius?

Put up or shut up. Criticize or create.

All you fkn idiot trolls are the same. You come with heaps of smarmy handwaving and criticism, but offer zero solutions.

It would look like a crypto asset with a value stabilization mechanism?

You already have that, Genius. It's called the fiat monetary system. And it's all digital and all online. Have fun with that.

Now on to /ignore with you

[HairyMaclairy]

Surprise surprise BTC goes green.  Everything else instantly goes green.

[Torque]

Surprise surprise BTC goes green.  Everything else instantly goes green.

Pegged to btc.

[HairyMaclairy]

[STT]

Downvoted the vid and closed it just from the way he looks and the first two seconds. What a fucking creep.

That's enlightened. Ignore the message because of the way the messenger looks, and the fact that in the first two seconds, he introduces himself by name?

You do realize who this is?

The CEO of BCash?

So CEO of a company designed to make money from its users.    Right, so thats not related to crypto currency which is only ever going to suceed as a far more mutual effort while allowing capitalist principles to propagate globally without bias to politics or companies paying government bodies, etc.


Current market action would look more positive with a confirmation above 10,400 to move past a short term downtrend from the recent high of 11,788. 
10,400 also lines up as a fib level and possible support line for YTD pricing, very roughly speaking

[Neo_Coin]

[Ibian]

I'm gonna buy a robot mop. I like gadgets, having money to waste on toys is fun.

[RayX12]

Looks like Petro sale was a fizzer and hasn’t raised a cent.

https://www.caracaschronicles.com/2018/02/22/petro-hasnt-raised-dime/

hmmmmmm  Maybe the petros have not been transferred anywhere yet.
I do find it hard to believe that had raised $700K in one day.

The other possible big dumper is of course Wall Street.  Settlement date is Feb 28 on futures contract.

[pacman7331]

So Europe or Asia bought. Now it’s up to the USA to pass or veto.