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

[cAPSLOCK]

FWIW, what I think jbreher is saying, is that BTC and BSV can both potentially be equally decentralized. In other words, the algorithms themselves allow for the same amount of decentralization.

However, BTC is currently far more popular/dominant than BSV, and this currently gives it a higher amount of decentralization. But this is not due to the algorithm itself, but due to popularity/dominance, which could potentially change in the future.

Well, I don't believe it will, for several reasons which have been discussed many times here in WO, but that's essentially what jbreher is saying.

The changes BSV makes to the protocol will inevitably centralize the protocol, and this is being touted as a feature, not a bug by the leaders.

Bitcoin is not and has never been about ‘censorship resistance’. I added the alert key to be able to freeze and reverse transactions, if needed. All that matters in Bitcoin is a public record of any transaction that is reversed.

That vision is NOT decentralized. 

Period.

Cause there is nothing such as decentralized

There is only open to join mining an compete for incentives, nobody should ever change the rules

And with incentives there is responsibility and nothing out of law

But meh

That's a red herring.

That's like saying the kitchen table is never perfectly clean, so I might as well take a huge steaming dump on it.

The goal is to move as far in the decentralized direction as possible.  Perhaps like "trust minimized" we should say "centralization minimization".

But I do not know why I am talking to you.  You are just parroting the talking points of your puppet masters.

[infofront]

FWIW, what I think jbreher is saying, is that BTC and BSV can both potentially be equally decentralized. In other words, the algorithms themselves allow for the same amount of decentralization.

However, BTC is currently far more popular/dominant than BSV, and this currently gives it a higher amount of decentralization. But this is not due to the algorithm itself, but due to popularity/dominance, which could potentially change in the future.

Well, I don't believe it will, for several reasons which have been discussed many times here in WO, but that's essentially what jbreher is saying.

The changes BSV makes to the protocol will inevitably centralize the protocol, and this is being touted as a feature, not a bug by the leaders.

Bitcoin is not and has never been about ‘censorship resistance’. I added the alert key to be able to freeze and reverse transactions, if needed. All that matters in Bitcoin is a public record of any transaction that is reversed.

That vision is NOT decentralized.  

Period.

Cause there is nothing such as decentralized

There is only open to join mining an compete for incentives, nobody should ever change the rules

And with incentives there is responsibility and nothing out of law

But meh

That's a red herring.

That's like saying the kitchen table is never perfectly clean, so I might as well take a huge steaming dump on it.

The goal is to move as far in the decentralized direction as possible.  Perhaps like "trust minimized" we should say "centralization minimization".

But I do not know why I am talking to you.  You are just parroting the talking points of your puppet masters.

Even Satoshi wrote that bitcoin mining will be controlled by a few massive data centers. If that happens, it's logical to think that these mining operations will be bound by regulations such as all the US FATCA/AML/sanctions bullshit. In other words, mining will be somewhat centralized and subject to a certain amount of government control.

I'm not entirely sure that's an inevitability, as BSVers are wont to think. It does seem to be heading into the direction of centralization though. It's not promising that the majority of mining is done in an evil, totalitarian shithole.

[Phil_S]

National security secrets on Twitter? Haha, I don't think so.

Could have started a few international incidents tho.

Imagine some Presidents and PMs throwing insults, even declaring a war or two.

[JimboToronto]

Good morning Bitcoinland.

Sideways keeps going on... currently $9133USD/$12387CAD (Bitcoinaverage).

Oh well. Nothing to do except laugh at Covid deniers and moron politicians.

National security secrets on Twitter? Haha, I don't think so.

Could have started a few international incidents tho.

Imagine some Presidents and PMs throwing insults, even declaring a war or two.

Trump's Tik Tok account?

[Last of the V8s]

{snip} It's not promising that the majority of mining is done in an evil, totalitarian shithole.

... a bare majority apparently

We have found that China contributes 50% of the Bitcoin mining power consumption and network Hashrate.

https://medium.com/@BitOoda/bitcoin-mining-hashrate-and-power-analysis-bitooda-research-ebc25f5650bf

according to this new report on mining. They find that that other great shithole accounts for 14%

while the US follows with about 14%

... not bad for a collapsing bloodbath of a place.

[Phil_S]

Surprisingly reasonable article about the riots.
https://unherd.com/2020/07/the-ugly-truth-about-the-blm-protests/

[OutOfMemory]

Not Sunday, I know
haikus allright on weekdays?
When moon, when lambo?



#haiku

Joining in tonight
though it`s not haiku sunday
it's haiku thursday

#haiku
#hodl

[LFC_Bitcoin]

@jfahmy
It sucks that I lost some bitcoin in that scam yesterday, but I'm working with a Nigerian prince over email to help get it back.
https://twitter.com/jfahmy/status/1283786970108497920?s=21

[Hueristic]

3 years ago: crashed to $1830.

Statements like these make me really want a time machine.

I think I got some at 3k back then (I was super illiquid).

It's happening? One last down before UP?  

We've had a lot of these last downs, they're starting to wear me out.

Are here going to be getting yet another visit from Vegeta again?
I am pretty sick and tired of him at this point.
Still, some movement, even down, has got to be better than this long sideways action.
Fingers crossed that the big move up is imminent.
Got a retirement to be looking forward to soon.
Go Honey Badger Go.

[JimboToronto]

Not Sunday, I know
haikus allright on weekdays?
When moon, when lambo?

Joining in tonight
though it`s not haiku sunday
it's haiku thursday

Haiku Thursdays, eh?
Better than Vegeta memes
At the very least.

It's our final day
Of 14 day quarantine.
Think I'll have a beer.

No sense worrying
About Bitcoin's dollar price.
Time is on our side.

It will be the same.
One bitcoin's worth one bitcoin.
Hold and be happy.

Guinness Extra Stout!
It surely is delicious
And it works well too.

[Biodom]

NFLX bamm!

btc is comatose...in a deep hodl.

[LFC_Bitcoin]

NSFW














Haiku Thursday?

Meh, I prefer BTC Thot Thursday

[infofront]

{snip} It's not promising that the majority of mining is done in an evil, totalitarian shithole.

... a bare majority apparently

We have found that China contributes 50% of the Bitcoin mining power consumption and network Hashrate.

https://medium.com/@BitOoda/bitcoin-mining-hashrate-and-power-analysis-bitooda-research-ebc25f5650bf

according to this new report on mining. They find that that other great shithole accounts for 14%

while the US follows with about 14%

... not bad for a collapsing bloodbath of a place.

[DaRude]

FWIW, what I think jbreher is saying, is that BTC and BSV can both potentially be equally decentralized. In other words, the algorithms themselves allow for the same amount of decentralization.

However, BTC is currently far more popular/dominant than BSV, and this currently gives it a higher amount of decentralization. But this is not due to the algorithm itself, but due to popularity/dominance, which could potentially change in the future.

Well, I don't believe it will, for several reasons which have been discussed many times here in WO, but that's essentially what jbreher is saying.

The changes BSV makes to the protocol will inevitably centralize the protocol, and this is being touted as a feature, not a bug by the leaders.

Bitcoin is not and has never been about ‘censorship resistance’. I added the alert key to be able to freeze and reverse transactions, if needed. All that matters in Bitcoin is a public record of any transaction that is reversed.

That vision is NOT decentralized.  

Period.

Cause there is nothing such as decentralized

There is only open to join mining an compete for incentives, nobody should ever change the rules

And with incentives there is responsibility and nothing out of law

But meh

That's a red herring.

That's like saying the kitchen table is never perfectly clean, so I might as well take a huge steaming dump on it.

The goal is to move as far in the decentralized direction as possible.  Perhaps like "trust minimized" we should say "centralization minimization".

But I do not know why I am talking to you.  You are just parroting the talking points of your puppet masters.

Even Satoshi wrote that bitcoin mining will be controlled by a few massive data centers. If that happens, it's logical to think that these mining operations will be bound by regulations such as all the US FATCA/AML/sanctions bullshit. In other words, mining will be somewhat centralized and subject to a certain amount of government control.

I'm not entirely sure that's an inevitability, as BSVers are wont to think. It does seem to be heading into the direction of centralization though. It's not promising that the majority of mining is done in an evil, totalitarian shithole.

jbreher covered that angle by distancing himself from Faketoshi, he knows that it's a loosing battle and he can't justify 90% of shit that comes from Faketoshi's mouth. hv_ is just a dumb talking head and will just parrot whatever the template of the day is. jbreher's angle is to lure noobs in by digging up some obscure definitions and extrapolating them to a point of absurdity, then when no one wants to waste time debating him that the world isn\t flat he thinks he wins  

Sure, there are no true absolutes in this world, but it's not even needed. All we need is to make sure that those data centers are spread (more or less) equally across the globe say Americas, Asia, Europe, and Russia (sort of like UN with a possibility of veto). That way changes would require overwhelming consensus from all parties. Such high quorum level would require a lot of debate and be very difficult to achieve thus it would be reserved to truly exceptional cases, like world agreement to defund ISIS. And not a one party directive like FATCA, but a true "global" overwhelming quorum (not ever 50%+1) as anything less would just fork the chain, and can be akin to declaration of war.

[Hueristic]

Nice, just heard a bitcoin blurb on the radio about the Twatter hack.

[fillippone]

It’s almost time:


https://twitter.com/officialmcafee/status/887024683379544065?s=21

I know this bet isn’t valid anymore... but I think it’s fun to remember it.

Btw, what’s happening to WO? Page count has decreased of at least 20 pages in the last few days..
I am on holiday, I might have missed some important piece of information here...

VV thanks @jojo69: Wow, he deleted more than 500 posts already!

[jojo69]

Btw, what’s happening to WO? Page count has decreased of at least 20 pages in the last few days..
I am on holiday, I might have missed some important piece of information here...

[aesma]

What happened, ragequit, or something he wrote makes him feel exposed ?

[DaRude]

What happened, ragequit, or something he wrote makes him feel exposed ?

ragequit over BLM politics, at least that seemed to be the last straw

[smartcomet]

Bitcoin is a neutral innovation.

Like the telegraph, steam engine or printing press- it has no intrinsic opinions, preferences or beliefs

The user gives it meaning.

To better explain this concept, I wrote a children's book.