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

[JayJuanGee]

Or "He ... still actually has a bunch of mining capacity hidden away somewhere."

Oh. Would you look at that. Turns out that he did.

Believe it when we see it.

[Kylapoiss]

This is only a 12% swing.   We have all gotten soft.

In the olden days we would do 20% before breakfast.

We're heading for the golden days now and money wise 12% (even more 20%) is way more scary.

[jbreher]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

[JayJuanGee]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

This is crypto. Hash power is The Power.

"They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."

- SN, Bitcoin: A Peer-to-Peer Electronic Cash System

So much for decentralization.

Ah, yes. 'Decentralization'. A means to an end that many have confused with the ultimate end. And a term that appears exactly zero times in aforementioned white paper.

That's ridiculous.

Now decentralization is not important?

Seems like bitcoin's pow is of central importance in bitcoin that facilitates decentralization because it causes incentives for people who don't trust each other to mine and to secure a network that becomes secure and immutable because it is not controlled by any particular one of them nor any small group.

In other words, decentralization seems to be imbedded in the actual outcome of bitcoin and not the means to some other end that you seem to be amorphously referring to.

Furthermore, currently, it seems that bitcoin has become the most decentralized value mechanism to ever have existed (at least so far), so maybe just an accident that bitcoin has achieved such a high level of decentralization (that was by no way intended, according to your sharing of your profound moments of wisdom).         

[jojo69]

I think 4650 will hold.

[El duderino_]

But we have run out of toilet paper.

And we have a very grody bathrobe. Take that thing off, willya? It stinks! What with shit all over it and everything.

theres a moment in that scene that goes like :



NOW i SAY :

obviously you didn't saw the lebowski movie

AND GOT THAT BATHROBE TATTOOED ON MY ARM ITS NOT THAT BAD

[jbreher]

Or "He ... still actually has a bunch of mining capacity hidden away somewhere."

Oh. Would you look at that. Turns out that he did.

Believe it when we see it.

How's 2/3 of the network - up from considerable minority days ago.



https://cash.coin.dance/blocks/today

Oh too late! You didn't close your eyes fast enough.

There is none so blind as he who refuses to see.

[Torque]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

Nah, that name's been taken.

BCash DEF? BCash XYZ? BCash 123? BCash Phoenix?  BCash SS (Slim Shady... get it?)

But then what if that too gets forked? Oh noes...it could go on, and on, and on, and...

[aaroque2003]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

Nah, that name's been taken.

BCash DEF? BCash XYZ? BCash 123? BCash Phoenix?  BCash SS (Slim Shady... get it?)

But then what if that too gets forked? Oh noes...it could go on, and on, and on, and...

BCash Phoenix.. LOL  ..

[aaroque2003]

Or "He ... still actually has a bunch of mining capacity hidden away somewhere."

Oh. Would you look at that. Turns out that he did.

Believe it when we see it.

How's 2/3 of the network - up from considerable minority days ago.



https://cash.coin.dance/blocks/today

Oh too late! You didn't close your eyes fast enough.

There is none so blind as he who refuses to see.

INDEED... !!!!!!!!! Perfectly explained and very well said Sir... Thank u..

[El duderino_]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

just bcash its all the same and when its there nobody will know or notice its there

[Dig Bicks]

[jbreher]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

This is crypto. Hash power is The Power.

"They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."

- SN, Bitcoin: A Peer-to-Peer Electronic Cash System

So much for decentralization.

Ah, yes. 'Decentralization'. A means to an end that many have confused with the ultimate end. And a term that appears exactly zero times in aforementioned white paper.

That's ridiculous.

Now decentralization is not important?

That's not what I said at all. What I am trying to say is that decentralization is not the holy grail. Decentralization is merely a means to an end. Decentralization is valuable only in that it serves the ability to transact in a permissionless trustless manner.

Seems like bitcoin's pow is of central importance in bitcoin

Absolutely. A principle that has never been tested in practice. A principle that is seemingly about to be demonstrated conclusively.

[Topbanker]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

Nah, that name's been taken.

BCash DEF? BCash XYZ? BCash 123? BCash Phoenix?  BCash SS (Slim Shady... get it?)

But then what if that too gets forked? Oh noes...it could go on, and on, and on, and...

BCash Phoenix.. LOL  ..

I believe BTrash i still open.

[JayJuanGee]

I think you are way past cracked out. I like Monero as well. But I have no delusions of it being anything near closer to satoshi's vision. Make the case for me?

It's hard to have "digital cash" without fungibility.

So if I can read between the lines, you are claiming that the fact that bitcoin is merely pseudonymous makes it absolutely non-fungible, and thereby absolutely useless as digital cash?

Yes, mostly useless. What do you think?

I think bitcoin has already proven itself to be useful as cash.

Bitcoin has also already proven itself to be useful to the FBI and IRS in helping them track transactions.

I'll just say that if I wanted to hide money from the tax authorities, buy contraband without physical cash, or just keep my economic activity private, I'd be using Monero.

Yeah... tell the whole fucking world.      You know everyone reads this thread, and wants to know what you are doing.  Right?


There goes your Opsec.      Sucks to be you. 

[infofront]

I think you are way past cracked out. I like Monero as well. But I have no delusions of it being anything near closer to satoshi's vision. Make the case for me?

It's hard to have "digital cash" without fungibility.

So if I can read between the lines, you are claiming that the fact that bitcoin is merely pseudonymous makes it absolutely non-fungible, and thereby absolutely useless as digital cash?

Yes, mostly useless. What do you think?

I think bitcoin has already proven itself to be useful as cash.

Bitcoin has also already proven itself to be useful to the FBI and IRS in helping them track transactions.

I'll just say that if I wanted to hide money from the tax authorities, buy contraband without physical cash, or just keep my economic activity private, I'd be using Monero.

Agreed. So make the case that requirement is part of 'satoshi's vision'.

Fungibility is a fundamental and desirable property of cash - even electronic cash. If Satoshi's vision was "electronic cash", we cannot have that with a completely transparent, public blockchain and non-fungible units of currency.

Not bad. However...

Fungibility is not a binary property. It is a sliding scale. USD are not perfectly fungible. Is USD -- even in tangible form -- not cash?

Physical USD is fungible enough for most intents, and beats BTC in that area.

(BTW I just deleted your double post)

[bitserve]

Or "He ... still actually has a bunch of mining capacity hidden away somewhere."

Oh. Would you look at that. Turns out that he did.

Believe it when we see it.

How's 2/3 of the network - up from considerable minority days ago.

https://cash.coin.dance/blocks/today

Oh too late! You didn't close your eyes fast enough.

There is none so blind as he who refuses to see.

Ok. Where do you think that hashrate increase is coming from? They were previously mining BTC? Is it rented hashpower?

[jbreher]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

Nah, that name's been taken.

Exactly. By the chain that wins the upcoming BCH hash battle. Bitcoin Cash implementing the SV consensus rules.

[RivAngE]

People wondering what's happening today, are confusing decentralised governance with decentralised prices.
Most coins have decentralised governance by their nature, but it'll take some more years until BTC becomes price-decentralised; right now few people control a lot of wealth and there's not enough liquidity to support the price, one whale can manipulate it as they want it.

As for today's fall, I don't believe Dr. Clown did it, he most likely wanted to make people FEAR that he might have tanked the market and that he has the power to do it again, that's why he tweeted this (https://twitter.com/ProfFaustus/status/1062751765601361923) AFTER the price had fell.

[bitserve]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

Nah, that name's been taken.

Exactly. By the chain that wins the upcoming BCH hash battle. Bitcoin Cash implementing the SV consensus rules.

The hashrate fight has not even started yet. All we are watching are preliminary intimidation movements. I would not count a winner just yet.