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

[Last of the V8s]

Chaum did go way off the rails with his previous shitcoin, elixir or something. This would need to be whole rafts better, and it's low on my todo list.

[vapourminer]

Based on my parental settings, my router blocked it as porn. 

unusual behavior, my security setting send all porn to my 1,700 tb raid 10 array and then AI tries to sort them into redheads, blonds, number of persons, how many are upside down and other such important parameters.

purely for convince its so hard to search that stuff nowadays.

[nullius]

Don't you know that guys like SwayStar make money no matter what?  Even if there was only some kind of small window, they some how figure out how to retroactively disclose how they had made money in order that our confidence is inspired in them.

Delightful, Sway!  Posted after I wrote the below sort-of inside joke with Jay, as I was gathering other sundry replies:

its just +EV gambling in a sense, its not  that dangerous if you know how to manage risk

I have a casino gambling script that is an EXTREME AUTOMATED PROFIT GENERATOR, if^[1] you can predict the outcome of bets only 2% better than random chance!

I offer to sell it to you for only 1.2 BTC.  PM me if you want to make money^[2] fast.





1. Focus on the IF!
2. For me.

38,250 total acquired BTC / 21,000,000 total supply BTC = .182143 % of total BTC supply

Regarding the math, my favourite is:

38,250/18,479,537.5=0.2069857%

More than 0.2% of total current supply!

Interesting.  I myself measure my holdings in proportionate terms of total supply—both maximum and current.  I wonder how many people do that—probably not many.

Chaum did go way off the rails with his previous shitcoin, elixir or something. This would need to be whole rafts better, and it's low on my todo list.

Elixxir (stupid cute spelling, yes) is now part of xx network, according to the porn-blocked website.

I would hope that Chaum learned something about the dangers of centralization from his prior experience.  Satoshi solved the problem that killed Chaum’s Digicash; whereas IMO, Bitcoin’s major flaw is its lack of anonymous, unlinkable transactions, which Digicash had a quarter-century ago and Chaum’s eCash design had in the 1970s.  (With information-theoretic unlinkability against a computationally unbounded attacker, which even the major “privacy coins” do not have!)  Thus my curiosity about this.  I have not yet reviewed it—this is not an endorsement.

[Torque]

MicroStrategy did it again. they bought another 14k btc for $175mil.

they own 38250 btc now.

Michael Saylor is savage.


https://twitter.com/michael_saylor/status/1305850568531947520?s=21

My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company.

[xhomerx10]

 Guys!  I don't have an parental controls or even parental skills ffs.

 I can't even... Listen, from now on I'll hang a polka dot necktie on the knob of my post if I'm serious.

[AlcoHoDL]

MicroStrategy did it again. they bought another 14k btc for $175mil.

they own 38250 btc now.

Michael Saylor is savage.

https://twitter.com/michael_saylor/status/1305850568531947520?s=21

My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company.

Yeah, my thoughts exactly.

At one time you could have those coins for the price of 8 pizzas, and have a piece left for next morning...

Better late than never, though. Also applies to many of us, unfortunately.

[Hueristic]

Anyone here know anything about this?  https://xx.network/

Apparently, it has been developing as I live under a rock.  Or else, perhaps there may be disadvantages to ignoring altcoins too assiduously.  There are also disadvantages to a marketing website facially indistinguishable from empty hype, which I would click straight past if the name “Chaum” were not associated with it.

What catches my attention is that the original inventor of digital cash, who also led the creation of the IACR, is probably not a snakeoil peddler.

h/t:

hello and welcome to oldgreybeardcointalk

https://youtu.be/ZVZxRMAeIdo Why Bitcoin Now: David Chaum and Adam Back Reflect on the Crypto Wars - Ep.186

David Chaum, the inventor of eCash and CEO of xx network, and Adam Back, the inventor of Hashcash and the cofounder and CEO of Blockstream, discuss their involvement in digital currency well before Bitcoin existed.

Over 500 coin holders from 55 countries on 5 continents participated in a $9.7M initial sale, totalling approximately 3.5% of the overall xx coin supply.

Until xx MainNet, coins will be secured by an ERC-1404 contract with an associated lockup period.

Pass.

That was a good interview.

[Torque]

MicroStrategy did it again. they bought another 14k btc for $175mil.

they own 38250 btc now.

Michael Saylor is savage.

https://twitter.com/michael_saylor/status/1305850568531947520?s=21

My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company.

Yeah, my thoughts exactly.

At one time you could have those coins for the price of 8 pizzas, and have a piece left for next morning...

Better late than never, though. Also applies to many of us, unfortunately.

I'm also struggling to understand how a company that only has 2400 employees and has an average yearly revenue (not net, revenue) of ~$486M can go and buy $425M of bitcoin. Having that much free cash reserve to do that does *not* add up for such a small company. Also, their stock price hasn't budged since the meltdown of 2000.

[Hueristic]

Based on my parental settings, my router blocked it as porn. 

unusual behavior, my security setting send all porn to my 1,700 tb raid 10 array and then AI tries to sort them into redheads, blonds, number of persons, how many are upside down and other such important parameters.

purely for convince its so hard to search that stuff nowadays.

Damn you just described my directory structure I did in the early 90's. lol
I blame free agent.

[600watt]

MicroStrategy did it again. they bought another 14k btc for $175mil.

they own 38250 btc now.

Michael Saylor is savage.

https://twitter.com/michael_saylor/status/1305850568531947520?s=21

My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company.

Yeah, my thoughts exactly.

At one time you could have those coins for the price of 8 pizzas, and have a piece left for next morning...

Better late than never, though. Also applies to many of us, unfortunately.

that one is easy to answer:

https://decrypt.co/38604/microstrategy-ceo-predicted-the-death-of-bitcoin-years-ago

 

edit:
paashas, i hate you!

edit2:
paashas, that was a joke, please don't delete your post. you were faster and also used the original source. I apologize - it was really meant funny 

[Torque]

You would think an MIT grad and subsequent computer simulations modeler would've understood Bitcoin back in 2013.

I'm no MIT grad and I got it almost immediately back then.

Hell within a few days of research, I completely understood how groundbreaking a breakthrough it was, and how it would fundamentally change the financial world.

[AlcoHoDL]

MicroStrategy did it again. they bought another 14k btc for $175mil.

they own 38250 btc now.

Michael Saylor is savage.

https://twitter.com/michael_saylor/status/1305850568531947520?s=21

My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company.

Yeah, my thoughts exactly.

At one time you could have those coins for the price of 8 pizzas, and have a piece left for next morning...

Better late than never, though. Also applies to many of us, unfortunately.

that one is easy to answer:

https://decrypt.co/38604/microstrategy-ceo-predicted-the-death-of-bitcoin-years-ago

 

Confirmed (again).

[Paashaas]

edit:
paashas, i hate you!

edit2:
paashas, that was a joke, please don't delete your post. you were faster and also used the original source. I apologize - it was really meant funny 

Don't worry about a thing ''Cause every little thing gonna be alright''.

[600watt]

You would think an MIT grad and subsequent computer simulations modeler would've understood Bitcoin back in 2013.

I'm no MIT grad and I got it almost immediately back then.

Hell within a few days of research, I completely understood how groundbreaking a breakthrough it was, and how it would fundamentally change the financial world.

lots of really smart IT guys dismissed bitcoin because they knew that nothing digital on the web would ever be safe. I once talked to an executive board member of the biggest German IT company SAP. He heard me mentioning bitcoin and he started to make fun of me, telling everyone his teenage son was into this crab. I told him he should stop laughing and start listening to his son.

[elrippos friend]

An interesting question just popped in my mind:
How much kWh was used to create the current Blockchain?
Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.

https://twitter.com/blockbain/status/1305539345991036933



a fair few

Can you provide a comparison for the energy consumption of the FIAT banking system 

[LFC_Bitcoin]

So we got to $10,923 or something like that & then got rejected, now we’re at $10,771. I’d argue that it’s very bullish we haven’t fallen back to the low $10,000’s. I think we’re due a big leg up soon, the lack of volatility & halving being a while behind us now just sets the perfect scene for a big move soon. 

Only a fool parts with his coins right now.

[BitcoinGirl.Club]

Good evening WO!
Observing @ $10,790

At some point today we were nearly hitting $11k which is good news I guess.

[Biodom]

MicroStrategy did it again. they bought another 14k btc for $175mil.

they own 38250 btc now.

Michael Saylor is savage.


https://twitter.com/michael_saylor/status/1305850568531947520?s=21

That's what we should call MEGA-DCA, lol

[Febo]

An interesting question just popped in my mind:
How much kWh was used to create the current Blockchain?
Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.

https://twitter.com/blockbain/status/1305539345991036933



a fair few

This is actually what matters. Energy spent and not hash power as so many take as main metric of how secure bitcoin network is. Hash power keep increasing because better and better ASIC miners gets built. But if energy put into securing Bitcoin network stays same that means that no matter how high hash power will go the network is same secure as before. The main problem is what also is said in the tweet. These numbers are just his estimations. It is much easier find a hash power number then to calculate energy spent.  Actually even better metric would be money spent to pay electricity spent for mining. Perfect but even harder to get metric.

[d_eddie]

This is actually what matters. Energy spent and not hash power as so many take as main metric of how secure bitcoin network is. Hash power keep increasing because better and better ASIC miners gets built. But if energy put into securing Bitcoin network stays same that means that no matter how high hash power will go the network is same secure as before.

This is only true if the same technology is available to all the players.

https://techcrunch.com/2020/09/15/ibm-publishes-its-quantum-roadmap-says-it-will-have-a-1000-qubit-machine-in-2023/

Bitcoin ded in 3 years!