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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25437997 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13+ users deleted.)
d_eddie
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July 16, 2020, 04:06:04 PM
Merited by El duderino_ (4)

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



#haiku
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July 16, 2020, 04:08:30 PM
Merited by El duderino_ (3), AlcoHoDL (1)

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.

This.

Jbreher can say all he wants about 30-lane highways. If it's managed by a single company - or even worse, by a government indirectly - I'm not taking that highway.
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July 16, 2020, 04:10:29 PM
Merited by AlcoHoDL (1)

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.

Quote from: Craig Wright
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.

Well said. A blockchain whose eventual goal is to be measured in petabytes is inherently centralizing, as is one where transactions can be reversed by a single entity.
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July 16, 2020, 04:38:25 PM

good morning

Back to say hello to our old friend vegeta, bitcoin is currently trading at $9.1kish. #dyor

bear pokes head over gunwale
1h


jump the hedge
4h

#stronghands
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July 16, 2020, 04:46:51 PM

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.

Quote from: Craig Wright
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
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July 16, 2020, 05:23:38 PM


old news
LFC_Bitcoin
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July 16, 2020, 06:28:32 PM

@pierre_rochard
Yesterday's twitter hack was excellent publicity for #Bitcoin .

It sent three messages to the world:

1. Bitcoin is valuable.
2. Bitcoin has utility.
3. Bitcoin is more secure than centralized systems like Twitter.
https://twitter.com/pierre_rochard/status/1283806485206761472?s=21
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July 16, 2020, 06:39:50 PM
Merited by JayJuanGee (1), gentlemand (1)

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.

Quote from: Craig Wright
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.
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July 16, 2020, 07:01:53 PM

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.

Quote from: Craig Wright
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.
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July 16, 2020, 07:04:41 PM

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.
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July 16, 2020, 07:19:02 PM

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? Grin
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July 16, 2020, 07:20:56 PM
Merited by JayJuanGee (1)

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

... a bare majority apparently

Quote
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%

Quote
while the US follows with about 14%

... not bad for a collapsing bloodbath of a place.
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July 16, 2020, 07:36:35 PM

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


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July 16, 2020, 07:47:07 PM
Merited by d_eddie (1)

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 Smiley

#haiku
#hodl
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July 16, 2020, 07:52:58 PM
Merited by d_eddie (1), vroom (1)

@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
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July 16, 2020, 07:53:00 PM
Last edit: July 16, 2020, 11:36:58 PM by Hueristic
Merited by JayJuanGee (1)

3 years ago: crashed to $1830.


Statements like these make me really want a time machine. Cheesy

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


It's happening? One last down before UP?  Grin

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.



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July 16, 2020, 08:26:40 PM
Merited by d_eddie (1)

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 Smiley

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.


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July 16, 2020, 08:31:16 PM

NFLX bamm!

btc is comatose...in a deep hodl.
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July 16, 2020, 08:36:13 PM
Merited by infofront (1), Patel (1)


NSFW














Haiku Thursday?

Meh, I prefer BTC Thot Thursday







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July 16, 2020, 08:37:35 PM

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

... a bare majority apparently

Quote
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%

Quote
while the US follows with about 14%

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

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