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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25466097 times)
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Indymoney
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July 25, 2020, 04:09:35 PM

Good afternoon WO!
Observing @ $9,601

No major changes yet.
Good thing now staying above 9500$ hopefully next figure could be $10K.
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July 25, 2020, 04:18:04 PM

Good afternoon WO!
Observing @ $9,601

No major changes yet.
Good thing now staying above 9500$ hopefully next figure could be $10K.

Let see if this can cross over 10k first or will to fall back below 9500$ now. Though seeing some good resistance form 2 days on this level but at times people start to book profits on some rise and this could lead to some fall and then we have panic sellers in the market that disturbs the whole market leading to more fall.
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July 25, 2020, 04:23:17 PM

For our Italian friends.

"I talenti visionari non mancano, ma nemmeno il senso degli affari fa difetto. Il sito dei Sea Builders offre numerose opzioni di acquisto, affitto o multiproprietà (i Bitcoin sono il mezzo di pagamento preferito, «ma accettiamo anche versamenti via Paypal, e puntiamo, dopo i primi tempi, ad abbattere i costi fino a 195 mila dollari per un modulo, un prezzo alla portata dell’americano medio» spiega Grant)."

https://www.iodonna.it/attualita/storie-e-reportage/2020/07/25/seasteading-case-del-futuro-in-mare/
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July 25, 2020, 05:00:24 PM

and a clinical inability to respond to simple questions or respond with a straight forward simple answer.  

What the hell are you on about? Looking back three pages, you have addressed exactly zero questions to me, let alone ones unanswered. Unless you're confusing yourself with some sock.

Let me summarize my interaction with you so far:

You claimed that your shitcoin BSv is as decentralized as bitcoin

Is your omission intentional? Or do you not understand? I said that from a technical viewpoint the BTC protocol and the BSV protocol are exactly as decentralized as each other.

Quote
I asked you to back it up, to define decentralization and metrics you used to arrive at such ludicrous conclusion

No. You inaccurately state your entrance into this branch of the thread. Are you lying, or trying to put one over on us? Or can you simply not remember what your position was those scant few days ago?

You went straight to implying that I was redefining 'decentralization', TOTALLY Without any supporting rationale for your implication.
https://bitcointalk.org/index.php?topic=178336.msg54783389#msg54783389

Indeed, it was myself who first asked you for a definition of decentralization, so that I may try to discern what it was you had issue with in my statement.

You did not request that I provide a definition of decentralization until further downthread, after actively evading the question yourself.

Fix you misquote please as I am not sure why my statement is included here. It is out of context.

It honestly took me a minute to figure out what you were complaining about here. Do people really not understand quote indentation?

::sigh:: fine. I'll 'fix' the quote. In my original post. Though there be nothing wrong with it as it stands. The quote in question (I assume you are referring to "I asked you to back it up"...) is clearly attributed to DaRude, but whatevs...
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July 25, 2020, 05:18:40 PM

and a clinical inability to respond to simple questions or respond with a straight forward simple answer.  

What the hell are you on about? Looking back three pages, you have addressed exactly zero questions to me, let alone ones unanswered. Unless you're confusing yourself with some sock.

Let me summarize my interaction with you so far:

You claimed that your shitcoin BSv is as decentralized as bitcoin

Is your omission intentional? Or do you not understand? I said that from a technical viewpoint the BTC protocol and the BSV protocol are exactly as decentralized as each other.

Ok, I'll bite.

The protocol? Not the actual network as in the current BTC and BSV mining state or diversification of nodes?

Correct. The actual coin/chain/protocol. The network that comes out of those concrete considerations is a function of many independent actors making many independent decisions. All based upon popularity. None of these networks has exclusionary barriers to any party playing any part in the network. And popularity is -- in my estimation at least -- an awfully weak place to plant your flag.

Quote
Or not... Because there are differences in the protocol that BSV introduced that leads to more centralisation.

Statement made as fait accompli, yet utterly dependent upon facts not entered into evidence. When BTC becomes so expensive to transact upon that the vast majority of the world's population literally cannot transact upon it, who is going to run a fully-validating non-mining client? If a person cannot afford to move an amount of BTC from A to B, do you really think they are going to dedicate a Raspberry Pi to monitoring a chain they have no hope of employing?

OTOH, a chain that has capacity to handle the world's sum of financial transactions has a much (much) larger pool of interested parties from which to draw.

Quote
Mainly the (too much) bigger blocks. You (more than significantly) increase the barriers of entry for verification/mining nodes and you indeed introduce a centralisation factor... which degree I am not going to evaluate. But it is there. And it is a difference in the protocol. Can we agree on that?

No. We cannot. There are offsetting factors, the above which is only one.

But should we wish to discuss concrete evidence, it is an indisputable fact that today, BTC validators must dedicate more storage capacity to the task than do BSV validators.
Yes, this is likely a temporary condition.
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July 25, 2020, 05:22:20 PM

Seems correlated?



I had no idea that gold price had achieved Vegeta.

(graph suffers from poor legend on axis of dependent variable)
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July 25, 2020, 05:33:15 PM



It honestly took me a minute to figure out what you were complaining about here. Do people really not understand quote indentation?

::sigh:: fine. I'll 'fix' the quote. In my original post. Though there be nothing wrong with it as it stands. The quote in question (I assume you are referring to "I asked you to back it up"...) is clearly attributed to DaRude, but whatevs...

Take a few more JB..

Conflating is a tad lazy in my opinion...indented or not.

I am talking about the root quote..'responding to simple..', your response... 'what the hell are...' and then the conflation of DaRudes and your discussion...'let me summarize...'.

thanks for trying anyway
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July 25, 2020, 05:35:57 PM

it scales in layers with the BTC blockchain being the settlement layer, or we up the block size ala BSV.

Such woud seem the fundamental dichotomy, yes.

Quote
What I am saying is when we do it the latter way it is going to be the realm of the super powerful to keep up with it enough to run nodes...

Not today. Certainly, it is well within the purview of insubstantial computers with good internet connections to do so for BSV today. At some time in the future, yes. Hobbyists will end up dropping off.

But that is not A Bad Thing. I mean, it's a tradeoff. Sure, its... nice if everyone is trivially able to validate the chain. But at what price? Demonstrably, so-called second layer solutions were not ready in time to stave off Blockalypse I. Nearly four years later, they still are not ready to stave off a potential Blockalypse II. (Of course, with none of the second layer solutions of which I am aware transacting on chain, they are completely invisible to the so-called 'validators' anyhow, though that's a separate discussion.)

But perhaps more germane... Humanity muddled along for one or two dozen thousand years with no discernible increase in standard of living. It is only in the last few centuries when specialization of labor has allowed us to rise out of the muck of scarcity into a stratified realm of (relative) abundance. Do you insist on developing and building your own automobile?  How about a semiconductor chip? Do you think everyone should design their own computer? Build their own fab to crank out the chips? One only need refer to the seminal essay 'I, Pencil' to see the folly therein. Why would the maintenance of the financial system be the one thing that is the enforced domain of the lowest common denominator?

I say they should not. The system should grow to accommodate demand. Those that are good at validation will remain validators. That are not will fall by the wayside, and find other things to do. Things more matched to their unique set of gifts. There is nothing wrong -- and everything right -- with that.

Quote
and we coalesce into a system worse than the current one.

B does not follow A. At least not without an explanation as to how A necessarily leads to B.

I think, going by that concept as a guideline, there would not be a need for BTC in the first place.

Nice try at reductio ad absurdium. Too bad it suffers from deeply flawed reasoning.

Quote
(Central) banks are highly specialized and extremely good at creating money out of thin air.

If your criteria for a good financial system include the wealthy enriching themselves by stealing purchasing power from everyone, then yes, I think they have that covered. What leads you to beleive that I think this state of affairs to be A Good Thing?

If you are about to engage in argument starting by constructing a straw man, you might first wish to minimize its flammability.

Quote
Then why come up with BTC and then also even include this message in the Genesis block? Looks like someone did indeed want to build his own automobile.

Wait - are you trying to claim that Satoshi did not so specialize in the development of a new monetary protocol? Do you realize the logical conclusion of this line of reasoning is that every last one of us should be devising our own singular and unique monetary protocol?

Quote
Which makes me wonder - by following your line of reasoning - why you became involved with BTC anyway, since the specialists had already covered the financial side of things with their expertise...

As above, the goals of those specialists don't match mine. My goals align more closely with what Satoshi's goals seem to have been.

Quote
Maybe the line for specialization of labour will have to be redrawn? How about those 3-D printers? Do you think, global supply chains will remain exactly as they are/used to be?

The lines for specialization of labor are in continual flux. Always have been. Well, at least from the time we first hit upon the value of such. And likely always will be.

How about those 3D printers? Are you about to tell me that every person will design each part they create out of first principles? Will everyone first design and build their own 3D printer?

Don't be ...     ....       ... ridiculous.
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July 25, 2020, 05:38:15 PM
Merited by xhomerx10 (1)



Hard to keep your composure when you have princess M'agabe running at you with a defective rocket launcher and a AK-47 ....

I'm still scratching my head as to why the fact that the guy in back has the design of a hand on his shirt seemed the one thing in this image remarkable enough to somebody for them to highlight it.
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July 25, 2020, 05:59:42 PM

slow and steady rising upward. I like what i see.

We are starting to get some momentum guys.
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July 25, 2020, 06:02:46 PM

Yelling Shazam did work this time!
Observing $9715! Grin

Who created "Money printer go brrrrrr!":
https://youtu.be/_ZFhP632e9c


You referring to this where a black armed militia are planning on marching in Louisville, Kentucky today JoJo? Embarrassed

https://www.foxnews.com/us/black-armed-militia-planning-louisville-march-claims-its-not-f-ing-around
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July 25, 2020, 06:49:02 PM
Merited by El duderino_ (7), JayJuanGee (1)

PlanB
@100trillionUSD
Still hoping to buy the dip at $6000?
Don't hold your breath!
200WMA just passed $6000.
#Bitcoin  never ever dipped below 200WMA.
200WMA never decreased.
200WMA is increasing with $200 every month.

https://twitter.com/100trillionusd/status/1287078394908336130?s=21




If you know, you know ————>


.                                  🔴
                               🔴
                          🔴
               🔴🔴
          🔴
🔴🔴
(Credit for dots Cheesy is @blockfolio on Twitter)



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July 25, 2020, 06:58:16 PM

PlanB
@100trillionUSD
Still hoping to buy the dip at $6000?
Don't hold your breath!
200WMA just passed $6000.
#Bitcoin  never ever dipped below 200WMA.
200WMA never decreased.
200WMA is increasing with $200 every month.

https://twitter.com/100trillionusd/status/1287078394908336130?s=21




If you know, you know ————>


.                                  🔴
                               🔴
                          🔴
               🔴🔴
          🔴
🔴🔴
(Credit for dots Cheesy is @blockfolio on Twitter)





I like S2F and everything, but planB is 'teasing" the universe with his suggestions of a smooth sailing.
I would prefer that we just wait and see.
200 WMA will be broken at some point, hopefully not now, though.
It could be 5 years or 10 years from now, but broken it will be.
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July 25, 2020, 07:25:07 PM

noon wall charts

#dyor
1h


4h

#stronghands
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July 25, 2020, 07:40:23 PM
Merited by Torque (1)

On the weekly, USD down 1.7%, Bitcoin up 5.15%

A game of confidence and trust,  Roll Eyes
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July 25, 2020, 08:10:42 PM
Merited by JayJuanGee (1)

The story of my brother in law, the ex-roofer - part 2.

Short version:
He declined my offer to pay him out in bitcoin, now here's the translation:
"Bitcoin is over. It will keep going sideways in the $10k range, before it will go to zero in the next couple of years. I had the chance of my life when it was at $300, but my father didn't even borrow me $5k, because he was into stocks only"

No more questions were asked.
He even did know about last year's rise to $14k. So he is still more or less following the price action as a nocoiner.
End of story  Cry
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July 25, 2020, 08:22:20 PM
Merited by JayJuanGee (1)

So he is still more or less following the price action as a nocoiner.

thats like thinking about that million dollar scratch ticket you lost behind the sofa till the dog ate it or something. why live a nightmare over and over.
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July 25, 2020, 08:25:17 PM
Merited by Icygreen (1), strawbs (1)

On the weekly, USD down 1.7%, Bitcoin up 5.15%

A game of confidence and trust,  Roll Eyes

Also Gold at a new historical ATH, which is a fkn *huge*, screaming red flag that the $USD is going into the shitter.

But alas the pleebs are oblivious, too busy worrying about wearing cute masks and trusting their govt and the media to care.
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July 25, 2020, 08:36:25 PM
Last edit: July 25, 2020, 09:30:51 PM by Torque
Merited by OutOfMemory (1)

The story of my brother in law, the ex-roofer - part 2.

Short version:
He declined my offer to pay him out in bitcoin, now here's the translation:
"Bitcoin is over. It will keep going sideways in the $10k range, before it will go to zero in the next couple of years. I had the chance of my life when it was at $300, but my father didn't even borrow me $5k, because he was into stocks only"

No more questions were asked.
He even did know about last year's rise to $14k. So he is still more or less following the price action as a nocoiner.
End of story  Cry

Literally everything about his response screams "I could give a shit about Bitcoin, its tech, or what it stands for. I don't even know what proper money is, or why fiat sucks. I just wanted to buy some Bitcoin to get rich quick, which it sounds like I already missed that boat."

These people are so clueless that one doesn't even know where to start. Even Warren Buffett says to never buy/invest in something you don't understand. I imagine an ex-roofer has a long way to go to understanding "investing". He's not even at 101 level.
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July 25, 2020, 08:36:58 PM

On the weekly, USD down 1.7%, Bitcoin up 5.15%

A game of confidence and trust,  Roll Eyes

Also Gold at a new historical ATH, which is a fkn *huge*, screaming red flag that the $USD is going into the shitter.

But alas the pleebs are oblivious, too busy worrying about wearing cute masks and trusting their govt and the media to care.

Almost....$1920.94 is the ATH on this particular chart. That a pretty big cup if you ask me.

Weekly Au spot price
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