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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25497510 times)
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JayJuanGee
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ESG, KYC & AML are attack vectors on Bitcoin


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March 17, 2019, 07:42:14 PM



We are not in 2017 anymore, Dorothy.   Roll Eyes Roll Eyes
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March 17, 2019, 07:43:18 PM

Why Most Educated People Fail to Understand Bitcoin

Misir Mahmudov, a widely-followed and respected bitcoin (BTC) analyst, has argued that “most educated people fail to appreciate bitcoin because they only specialize in one field.” In order to truly understand how bitcoin works, Mahmudov, a financial economics student at Columbia University, recommends having some grasp of basic computer science and economics concepts.

First proposed in a whitepaper published in November 2008 by its pseudonymous creator, Satoshi Nakamoto, the Bitcoin protocol specifies how an electronic peer-to-peer (P2P) cash system should work. For the first time, modern cryptographic techniques were applied to create what’s now a multi-billion dollar experiment in monetary theory.

https://www.cryptoglobe.com/latest/2019/03/why-most-educated-people-fail-to-understand-bitcoin/
I agree. I have no higher education, never cared much for school, but I like to know stuff so I know a little about a lot of things. Politics, history, economy, math, psychology and being a computer nerd all add up. If you lack any one of them you won't get it. Without history you won't know just how bad economies and states can get, without politics you won't know where we currently are, without psychology you won't understand what drives people, without computer knowledge you won't trust the system, without economy you won't even understand something so basic as supply and demand. Sometimes broad knowledge is what it takes.

You obviously do not understand bitcoin if you can't figure out it's not possible to create a decentralized digital currency because transaction validators are always designed to centralize.  The variables that cause this are numerous, compounding in nature, and not possible to magically get rid of.
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March 17, 2019, 07:43:49 PM

My view is that DNA tests are too dangerous and that there are too many factors to control.  Therefore you should never do them.*

I sense a market opportunity for a middleman.

You pay middleman (via Bitcoin, ofc).
You create keypair.
You send bio sample to middleman, along with public key.
Middleman sends your sample to testing facility with no identifying info.
Testing facility sequences your DNA, sends data to middleman.
Middleman encrypts your test result data, makes it publicly available.
You watch for data (rest results) associated with public key, retrieve data, decrypt, use as you see fit.

Results private, as they not traceable to you.

Except they almost certainly have all of our dna already. So it's a simple database comparison to identify you. Also, there is the issue of trust.
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The Concierge of Crypto


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March 17, 2019, 07:44:34 PM

My view is that DNA tests are too dangerous and that there are too many factors to control.  Therefore you should never do them.*

I sense a market opportunity for a middleman.

You pay middleman (via Bitcoin, ofc).
You create keypair.
You send bio sample to middleman, along with public key.
Middleman sends your sample to testing facility with no identifying info.
Testing facility sequences your DNA, sends data to middleman.
Middleman encrypts your test result data, makes it publicly available.
You watch for data (rest results) associated with public key, retrieve data, decrypt, use as you see fit.

Results private, as they not traceable to you.


Oh, a job for escrow. They could do other things too. Off-market crypto-crypto trades usually, but then again, only if they both don't want to use an exchange.
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March 17, 2019, 07:44:49 PM

Why Most Educated People Fail to Understand Bitcoin

Misir Mahmudov, a widely-followed and respected bitcoin (BTC) analyst, has argued that “most educated people fail to appreciate bitcoin because they only specialize in one field.” In order to truly understand how bitcoin works, Mahmudov, a financial economics student at Columbia University, recommends having some grasp of basic computer science and economics concepts.

First proposed in a whitepaper published in November 2008 by its pseudonymous creator, Satoshi Nakamoto, the Bitcoin protocol specifies how an electronic peer-to-peer (P2P) cash system should work. For the first time, modern cryptographic techniques were applied to create what’s now a multi-billion dollar experiment in monetary theory.

https://www.cryptoglobe.com/latest/2019/03/why-most-educated-people-fail-to-understand-bitcoin/
I agree. I have no higher education, never cared much for school, but I like to know stuff so I know a little about a lot of things. Politics, history, economy, math, psychology and being a computer nerd all add up. If you lack any one of them you won't get it. Without history you won't know just how bad economies and states can get, without politics you won't know where we currently are, without psychology you won't understand what drives people, without computer knowledge you won't trust the system, without economy you won't even understand something so basic as supply and demand. Sometimes broad knowledge is what it takes.

You obviously do not understand bitcoin if you can't figure out it's not possible to create a decentralized digital currency because transaction validators are always designed to centralize.  The variables that cause this are numerous, compounding in nature, and not possible to magically get rid of.
I understand enough psychology to see you have some kind of emotional motivation. Which is fine. But it would be healthier for you if you could admit it. To yourself if nothing else.
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March 17, 2019, 07:48:41 PM

Not a very elaborate thought to understand.
however, as mentioned in another post, it is not clear that 23andme allows sample aggregation and 'pseudonyms'.
other than that, an OK idea.

There are other private sequencing firms, not to mention the original, and IMO still the best, Bryan Sykes Oxford Ancestors.

Quote
We follow strict security procedures in the storage and disclosure of information that you have given to us and take all reasonable care to prevent any unauthorised disclosure of your data.

For the purposes of the Data Protection Act 1998, Oxford Ancestors Limited is the data controller.

The information you provide will be kept confidential and used to support your customer relationship with us. We collect personal data only if you choose to provide such information, for example when ordering our goods and services. This will include name and address and may also include email address and credit or debit card details in order that we may collect payment for your order.  

Although we use encrypted security software the security of information and payments transmitted via the Internet cannot be guaranteed. Any losses incurred or sustained by customers who transmit information by means of e-mail or other internet link shall be borne solely and exclusively by the customer and in no event shall any such losses in whole or part by borne by us.

Quite a bit more expensive ~$400 as I recall, but the other options have...umm...other ways of monetizing their activities.

That's an ancestry firm, basically just to establish paternity (whether the father is the "real" father, etc.). it will not provide data on cancer susceptibility, etc.

From what I gathered so far if you want to do the 'whole genome' works, you should ask your doctor to transmit doctor's orders to one of the few centers which do the 'whole genome sequencing'. The caveat in my knowledge so far is how to pay for this work without insurance being involved. I will get this answer sometime next week. The cost with insurance is about $5K with most of it paid by insurance, but, of course, they'll go for it only if such test is needed.
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March 17, 2019, 07:48:52 PM

Why Most Educated People Fail to Understand Bitcoin

Misir Mahmudov, a widely-followed and respected bitcoin (BTC) analyst, has argued that “most educated people fail to appreciate bitcoin because they only specialize in one field.” In order to truly understand how bitcoin works, Mahmudov, a financial economics student at Columbia University, recommends having some grasp of basic computer science and economics concepts.

First proposed in a whitepaper published in November 2008 by its pseudonymous creator, Satoshi Nakamoto, the Bitcoin protocol specifies how an electronic peer-to-peer (P2P) cash system should work. For the first time, modern cryptographic techniques were applied to create what’s now a multi-billion dollar experiment in monetary theory.

https://www.cryptoglobe.com/latest/2019/03/why-most-educated-people-fail-to-understand-bitcoin/
I agree. I have no higher education, never cared much for school, but I like to know stuff so I know a little about a lot of things. Politics, history, economy, math, psychology and being a computer nerd all add up. If you lack any one of them you won't get it. Without history you won't know just how bad economies and states can get, without politics you won't know where we currently are, without psychology you won't understand what drives people, without computer knowledge you won't trust the system, without economy you won't even understand something so basic as supply and demand. Sometimes broad knowledge is what it takes.

You obviously do not understand bitcoin if you can't figure out it's not possible to create a decentralized digital currency because transaction validators are always designed to centralize.  The variables that cause this are numerous, compounding in nature, and not possible to magically get rid of.
I understand enough psychology to see you have some kind of emotional motivation. Which is fine. But it would be healthier for you if you could admit it. To yourself if nothing else.

Yea, it's called not wanting to live in a complete dystopian Chinese social credit score system, because that's the only possible evolution of designed to centralize, non-fungible shitcoins.  Which is why I support physical metals instead.
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March 17, 2019, 08:04:54 PM



We are not in 2017 anymore, Dorothy.   Roll Eyes Roll Eyes
But the point is, it doesn't change.
JayJuanGee
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ESG, KYC & AML are attack vectors on Bitcoin


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March 17, 2019, 08:07:39 PM

You obviously do not understand bitcoin if you can't figure out it's not possible to create a decentralized digital currency because transaction validators are always designed to centralize.  The variables that cause this are numerous, compounding in nature, and not possible to magically get rid of.


After more than 5 years engaging in bitcoin threads, you have seem to STILL have no fucking clue regarding what bitcoin is?  To you, bitcoin is an attempt at magic.  By your own amorphous words, what a proven dumb-fuck!!!!   Roll Eyes Roll Eyes
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March 17, 2019, 08:09:29 PM

Why Most Educated People Fail to Understand Bitcoin

Misir Mahmudov, a widely-followed and respected bitcoin (BTC) analyst, has argued that “most educated people fail to appreciate bitcoin because they only specialize in one field.” In order to truly understand how bitcoin works, Mahmudov, a financial economics student at Columbia University, recommends having some grasp of basic computer science and economics concepts.

First proposed in a whitepaper published in November 2008 by its pseudonymous creator, Satoshi Nakamoto, the Bitcoin protocol specifies how an electronic peer-to-peer (P2P) cash system should work. For the first time, modern cryptographic techniques were applied to create what’s now a multi-billion dollar experiment in monetary theory.

https://www.cryptoglobe.com/latest/2019/03/why-most-educated-people-fail-to-understand-bitcoin/
I agree. I have no higher education, never cared much for school, but I like to know stuff so I know a little about a lot of things. Politics, history, economy, math, psychology and being a computer nerd all add up. If you lack any one of them you won't get it. Without history you won't know just how bad economies and states can get, without politics you won't know where we currently are, without psychology you won't understand what drives people, without computer knowledge you won't trust the system, without economy you won't even understand something so basic as supply and demand. Sometimes broad knowledge is what it takes.

You obviously do not understand bitcoin if you can't figure out it's not possible to create a decentralized digital currency because transaction validators are always designed to centralize.  The variables that cause this are numerous, compounding in nature, and not possible to magically get rid of.
I understand enough psychology to see you have some kind of emotional motivation. Which is fine. But it would be healthier for you if you could admit it. To yourself if nothing else.

Yea, it's called not wanting to live in a complete dystopian Chinese social credit score system, because that's the only possible evolution of designed to centralize, non-fungible shitcoins.  Which is why I support physical metals instead.
The only way to avoid that is to flee.
JayJuanGee
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ESG, KYC & AML are attack vectors on Bitcoin


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March 17, 2019, 08:17:23 PM



We are not in 2017 anymore, Dorothy.   Roll Eyes Roll Eyes
But the point is, it doesn't change.

You are not really making any kind of meaningful point, which makes you seem like a troll/shill, even attempting to give you some benefit of the doubt.  

First of all, bitcoin is not like those other events that you describe, and even the statements for each picture seems quite non-representative of any kind of overall sentiment, even within each of the concepts.

Second, your finding meaning in that meme seems to show that you don't seem to sufficiently understand market waves, which are natural with any kind of asset, including bitcoin, so if you are going to assert that bitcoin is currently in a bubble, that is a different story than what your meme represents as 2017 (which would have been the top of the most recent BTC price surge).  Bitcoin is currently 80% down from that top.  Your subsequent post seems to be asserting that bitcoin is still in a bubble.. which seems to be a pretty bold and even detached from reality assertion.

Third, if you want to discuss some bitcoin related ideas and you have some doubts about bitcoin, then there is nothing wrong with that, as long as you are a genuine person rather than a troll or a shill.  Tell us a bit about your bitcoin and/or investing experiences, and let's attempt to see if you have any kind of genuine thoughts that you are able to offer here.... We are not dumb-dumbs in these parts, as your meme seems to want to project on this audience.  To me, it seems that you are not starting out on a good foot with that bullshit meme nonsense, but you might be able to recover, perhaps?  Anyhow, do you really believe that level of stupid-ass superficiality and really old talking-points about "bitcoin's a bubble" phony baloney?  That is so 2015..... Roll Eyes Roll Eyes
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March 17, 2019, 08:29:08 PM
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Not a very elaborate thought to understand.
however, as mentioned in another post, it is not clear that 23andme allows sample aggregation and 'pseudonyms'.
other than that, an OK idea.

There are other private sequencing firms, not to mention the original, and IMO still the best, Bryan Sykes Oxford Ancestors.

Quote
We follow strict security procedures in the storage and disclosure of information that you have given to us and take all reasonable care to prevent any unauthorised disclosure of your data.

For the purposes of the Data Protection Act 1998, Oxford Ancestors Limited is the data controller.

The information you provide will be kept confidential and used to support your customer relationship with us. We collect personal data only if you choose to provide such information, for example when ordering our goods and services. This will include name and address and may also include email address and credit or debit card details in order that we may collect payment for your order.  

Although we use encrypted security software the security of information and payments transmitted via the Internet cannot be guaranteed. Any losses incurred or sustained by customers who transmit information by means of e-mail or other internet link shall be borne solely and exclusively by the customer and in no event shall any such losses in whole or part by borne by us.

Quite a bit more expensive ~$400 as I recall, but the other options have...umm...other ways of monetizing their activities.

That's an ancestry firm, basically just to establish paternity (whether the father is the "real" father, etc.). it will not provide data on cancer susceptibility, etc.

From what I gathered so far if you want to do the 'whole genome' works, you should ask your doctor to transmit doctor's orders to one of the few centers which do the 'whole genome sequencing'. The caveat in my knowledge so far is how to pay for this work without insurance being involved. I will get this answer sometime next week. The cost with insurance is about $5K with most of it paid by insurance, but, of course, they'll go for it only if such test is needed.

Regardless,  secure private encryption that protects user identity of some sort is desperately needed in this market. While possibly only tangentially related I found this tweet disturbing. I think the misuse and abuse of these data sets that are being compiled be it your genome or your breeding status is a given.

https://twitter.com/0xDUDE/status/1104482014202351616

Quote
In China, they have a shortage of women. So an organization started to build a database to start registering over 1,8 million women with all kinds of details like phone numbers, addresses, education, location, ID number, marital status, and a ”BreedReady" status?


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March 17, 2019, 08:30:33 PM



We are not in 2017 anymore, Dorothy.   Roll Eyes Roll Eyes
But the point is, it doesn't change.

You are not really making any kind of meaningful point, which makes you seem like a troll/shill, even attempting to give you some benefit of the doubt.

I bet that he hasn't even read that image (completely) carefully. Poor guy probably thought that it's some sort of bullish (though it's not bullish, it's only bullshi*) statement and Wall Observers will probably merit it.

Make good use of your senses before you post again, @katrinmi! Wink
vroom
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a Cray can run an endless loop in under 4 hours


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March 17, 2019, 08:31:38 PM



We are not in 2017 anymore, Dorothy.   Roll Eyes Roll Eyes
But the point is, it doesn't change.

it's not a bubble, but you are a troll

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March 17, 2019, 08:39:28 PM

I´m playing with the fractal chart and its kinda creepy how similar the patterns are now compared to the bottom of 2015.
In the weekly chart with MA 20 50 100 200, having 3 MA crossings behind us it looks like we are at May 18 2015, touching the 20 MA.
Following that scenario, then likely a correction is coming down towards 200 MA ($3400-$3500) and then soon a bullish move up to visit the 50 MA ,
possibly around $5600 ?  Smiley




Grab some nipples and HODL!


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Degenerate bull hatter & Bitcoin monotheist


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March 17, 2019, 08:48:45 PM

I´m playing with the fractal chart and its kinda creepy how similar the patterns are now compared to the bottom of 2015.
In the weekly chart with MA 20 50 100 200, having 3 MA crossings behind us it looks like we are at May 18 2015, touching the 20 MA.
Following that scenario, then likely a correction is coming down towards 200 MA ($3400-$3500) and then soon a bullish move up to visit the 50 MA ,
possibly around $5600 ?  Smiley




Grab some nipples and HODL!




I agree.  Except everyone is looking at the same charts as you and front running the fractal, so the dips are being absorbed.
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March 17, 2019, 09:01:12 PM


it's not a bubble, but you are a troll



notice the bitcoiner literally sold his right arm and eventually his left arm to btfd (@reddit)
#dedication #whereweregoingwewontneednoarms
JayJuanGee
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ESG, KYC & AML are attack vectors on Bitcoin


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March 17, 2019, 09:02:28 PM

I´m playing with the fractal chart and its kinda creepy how similar the patterns are now compared to the bottom of 2015.
In the weekly chart with MA 20 50 100 200, having 3 MA crossings behind us it looks like we are at May 18 2015, touching the 20 MA.
Following that scenario, then likely a correction is coming down towards 200 MA ($3400-$3500) and then soon a bullish move up to visit the 50 MA ,
possibly around $5600 ?  Smiley




Grab some nipples and HODL!




I agree.  Except everyone is looking at the same charts as you and front running the fractal, so the dips are being absorbed.

Fractal = smactal
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March 17, 2019, 09:04:20 PM

You obviously do not understand bitcoin if you can't figure out it's not possible to create a decentralized digital currency because transaction validators are always designed to centralize.  The variables that cause this are numerous, compounding in nature, and not possible to magically get rid of.


After more than 5 years engaging in bitcoin threads, you have seem to STILL have no fucking clue regarding what bitcoin is?  To you, bitcoin is an attempt at magic.  By your own amorphous words, what a proven dumb-fuck!!!!   Roll Eyes Roll Eyes
Pathetic  Cheesy
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March 17, 2019, 09:07:56 PM

Who is holding most BTC from WO family?
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