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

[wachtwoord]

Bitcoin will not be able to increase the size of the block otherwise it will mean the recognition that BCH is better. But without increasing the block to solve the problem of BTC scaling is impossible

What problem?

[1714285851]

1714285851

[alevlaslo]

Bitcoin will not be able to increase the size of the block otherwise it will mean the recognition that BCH is better. But without increasing the block to solve the problem of BTC scaling is impossible

What problem?

7 TPS, Visa has 47000

[realr0ach]

haha lol

[vroom]

Bitcoin will not be able to increase the size of the block otherwise it will mean the recognition that BCH is better. But without increasing the block to solve the problem of BTC scaling is impossible

bitcoin devs never said that a block size change is off the table. just the timing for such a blocksize change was wrong, because there are other and better ways to get more TPS, like lightning. bitcoin will get a blocksize change if it is really necessary.

[Torque]

7 1,000,000 TPS (w/ LN), Visa has 47000

FTFY. Now fk off newb troll.

[realr0ach]

Nice, the sewer known as reddit is full of new stories of women willingly hooking up with dudes on New Years eve then claiming they were violently raped and assaulted after:

https://www.reddit.com/r/TwoXChromosomes/comments/abp4s6/i_think_i_was_sexually_assaulted_this_morning_tw/

[wachtwoord]

Bitcoin will not be able to increase the size of the block otherwise it will mean the recognition that BCH is better. But without increasing the block to solve the problem of BTC scaling is impossible

What problem?

7 TPS, Visa has 47000

Great for Visa. It has nothing to do with Bitcoin though.

Bitcoin is not a credit card company and offers no improvement as a more efficient payment system. It's a distributed system with (extremely) high security and (very) high censorship resistance with a non-inflationary monetary base.

I would hope people here would be able to figure out that much ...

[goldkingcoiner]

Bitcoin flatlining again, seems we are in for another world of 10 dollar pumps throughout January.  how did you guys celebrate your new year? I spent it trying to explain to no coiners that just because crypto is volatile, does not mean it cannot be used as money. Some of these idiots actually own real estate and say these things... Like that isn't a volatile asset in itself.

[Paashaas]

Lightning reached a new milestone: 5000+ nodes 

[Paashaas]

bCash...LOL

[ðºÞæ]

Bitcoin will not be able to increase the size of the block otherwise it will mean the recognition that BCH is better. But without increasing the block to solve the problem of BTC scaling is impossible

What problem?

7 TPS, Visa has 47000

Great for Visa. It has nothing to do with Bitcoin though.

Bitcoin is not a credit card company and offers no improvement as a more efficient payment system. It's a distributed system with (extremely) high security and (very) high censorship resistance with a non-inflationary monetary base.

I would hope people here would be able to figure out that much ...

After 10 years people still have not figured it out, there is no value as money. Money can be anything. Value comes from deflation nature a place to "park" and escape inflation. A much better gold. Usage adds little to no value.
Far to valuable to be used as money.

[realr0ach]

I spent it trying to explain to no coiners that just because crypto is volatile, does not mean it cannot be used as money. Some of these idiots actually own real estate and say these things... Like that isn't a volatile asset in itself.

It can function as currency because you can literally shit in your hand and use that as 'currency', but it doesn't have the characteristics of 'money':

1)  It's non-fungible even if you mix outputs because there's always an idiot claiming the protocol needs to be "upgraded" in some manner which will always change token fungibility.  If it actually was fungible, forks wouldn't even be possible and all transactions would be anonymous by default.  

2)  Has built-in, rent seeking middlemen (transaction validators) and doesn't remove counterparty risk.  You rely on the existence of thousands of other people to keep the wheels turning on this nonsense unlike in say physical metals that don't require any external inputs to exist.

3)  Does not pass the "durability" requirement of money because it can die and cease to exist at literally any second.  The odds a brick of gold or silver instantly spontaneously combusts is very low.

4)  Does not pass the "scarcity" requirement of money for numerous reasons.  One example:  PoW claims to create consensus, yet if someone attempts to "upgrade" aka alter the protocol in some manner and triggers a hash war, the minority side doesn't even die.  It just lives on as an increase of supply because there is no Schelling point in cryptocurrency.  PoW does nothing vs rough consensus attack.  Nakamoto consensus conveniently pretends that hard forks aren't inevitable as well.

5)  Plato was an absolute dumbfuck concerning his views on money - basically a Keynesian socialist, and Aristotle was obviously right.  Plato wanted money to be an arbitrary, made up symbol.  Bitcoin is Plato money and metals are Aristotle money.  Aristotle knew, just as I do, that the basis of human trade interaction is barter, and there is no purpose of two humans performing barter with imaginary, arbitrary symbols.  It requires real world value (commodity money).  Plato money is nothing but a communal, social construct (just like both fiat dollars and bitcoin are).  The further you abstract away from barter (commodity money), the bigger a scam it is.  

[marcus_of_augustus]

^ tl;dr yes, i really did miss the boat on bitcoin because i'm an idiot.

ps: he's probably just a gubmint psyop dwelling here to intentionally "crap the place up", australian maybe?

[realr0ach]

there is no value as money. Money can be anything.

Stupid post.  See my Aristotle vs Plato debate on money I posted earlier below.  Plato money (the arbitrary symbol) is by definition the Keynesian, socialist route - a communal construct, and Aristotle money (silver and gold) is not. Marcus of Tel Aviv will now pretend Aristotle does not exist and that Plato was not a Keynesian with bitcoin being an obvious spawn of his ideology.

5)  Plato was an absolute dumbfuck concerning his views on money - basically a Keynesian socialist, and Aristotle was obviously right.  Plato wanted money to be an arbitrary, made up symbol.  Bitcoin is Plato money and metals are Aristotle money.  Aristotle knew, just as I do, that the basis of human trade interaction is barter, and there is no purpose of two humans performing barter with imaginary, arbitrary symbols.  It requires real world value (commodity money).  Plato money is nothing but a communal, social construct (just like both fiat dollars and bitcoin are).  The further you abstract away from barter (commodity money), the bigger a scam it is.  

[El duderino_]

kinda like this

[DeathAngel]

kinda like this

I’ve never thought about it this way. Good post micgoossens!

[El duderino_]

didn't thought it this way myself .... just saw it and thought it was a cool way to see it

[realr0ach]

As a side note, I also find it hilarious that self proclaimed "anarchists" like Elwar and Marcus follow the Plato school of money which is clearly antithetical to anarchism, pro-state, pro-collectivism, and Keynesian in nature, while the Aristotle school of money is clearly the only anarchy aligned monetary school.

ps: he's probably just a gubmint psyop dwelling here to intentionally "crap the place up", australian maybe?

The fact I'm pro-metals and anti-evil cult of Judaism is a pretty clear sign I'm not a govt agent.  Larry Summers and Ben Bernanke, on the other hand, are both shilling for cryptocurrency.  It looks like it's YOU that is on the wrong team, not me.  Everyone and their mom knows craptocurrency is going to be a trojan horse for some sort of Chinese social credit score system in the west.

[LFC_Bitcoin]

Bitcoin will not be able to increase the size of the block otherwise it will mean the recognition that BCH is better. But without increasing the block to solve the problem of BTC scaling is impossible

Dude. Please fuck off. You are in the wrong thread.

Go Bob!

[Icygreen]

just being a total prick about it.

favors physical metals - around 80%

Shall we assume you're hedged around 20% BTC?