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

[Toxic2040]

Proudhon, get used to HODLers views

#positano

Cheers

+1 WOsMerit


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Playing with FIRE (not the early retirement one). But good luck to you SS123, nice catch.

+1 WOsMerit



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[important message embedded in an image]

need to decentralise mining pools. right fucking now

[important links]

Damn, V8s, important message posted while I was writing long thing.

The deeper problem is ASICs.  Special-purpose hardware can be controlled on the supply side.  What happens if mining hardware requires a licence to purchase?  What, you think they won’t go that far to prevent terrorist laundering and money financing?


I am in Bitcoin because it is more or less our last hope.

I intended to write of this recently...  I actually don’t believe in much of the maximalist economic stuff.  Yes, Bitcoin has long-term fundamentals and will increase in value.  No, I don’t buy that it will become a “world reserve currency”;

I know this is impossible, but I would like to know what Hal Finney would think of the overall Bitcoin situation, exchanges, forks, asics farms, long shorts, bets

He was WAAAAAY clearer on his basic positions that Satoshi seemed to be, and he also saw more deeply into the future I think.  He saw the whole decentralized censorship resistant quality to be important enough that I believe it was CLEAR that he would have been a small block supporter (I think that argument is harder to make for Satoshi, but it is trivially easy for HF, posts here reflect it) and I think if you read his posts to this forum you will see him making small block arguments.

On thing I am interested in that he foresaw that is STILL ahead of the curve as far as the community goes is the need for banks.  He saw (before anyone and even before most of us now) that existing banks, bitcoin banks, and existing payment rails would continue to be in use as this tech evolved.  He saw that bitcoin was a settlement layer before that was a thing for the rest of us.

Man, I REALLY wish he was still here.  He would be such a clear voice of reason, I believe.

+2 WOsMerit's


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A.Pompliano talked Jim Cramer into investing 1% of his portfolio into bitcoin.


https://podcasts.apple.com/us/podcast/383-jim-cramer-becomes-a-bitcoin-bull/id1434060078

Pompliano plans to release a new podcast episode on Monday, 14th September, to feature how he managed to convince Cramer.

Cramer is one of the most respected and recognized individuals in the financial media sector, hosting the famous “Mad Money” show on CNBC media company.

Bitcoin Investment Hopes Rise

Cramer’s relationship with the top cryptocurrency has been quite erratic. In the past three years, he has been sending mixed signals concerning Bitcoin. In June 2017, Cramer claimed that Bitcoin’s price could hit $1 million. But he has also been critical, calling Bitcoin an "outlaw currency".

When Bitcoin was approaching its all-time high of $20,000 in December 2017, Cramer made a prediction that the launch of Bitcoin Futures by Chicago-based Cboe Global Markets Inc., would “annihilate” the largest cryptocurrency.

After Bitcoin fell below $6,000 in August 2018, Cramer said that the tide had turned against the cryptocurrency. He added, “I’m not saying its time has passed but there is a notion that the sun seems to be setting.

https://blockchain.news/news/cnbc-jim-cramer-changes-mind-buying-bitcoin

+1 WOsMerit


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Misogynous thoughts
A friend of mine died today
Bitcoin, save my mind!




#haiku

+1 WOsMerit #haikulord

sorry to hear that..condolences



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sorry to hear that Eddie. look after yourself eh

+1 WOsMerit

for having a soul


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 +1 WOsMerit



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-snipped-

Working on it...

eyes start to cross and glaze over..

+1 WOsMerit


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Your not even going to whisper sweet nothings in my ear?   ftfy!

+1 WOsMerit


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-snipped-

dunno if thats helpful or not. or if its just lack of caffeine and barely functioning brain cells typing this. heck took like 20 edits to make this seen even vaguely like a coherent post. i will stop typing now.

+1 WOsMerit


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Carry on.

[1714306038]

1714306038

[JayJuanGee]

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 is a bit of a strange average purchase price that kind of struck me when I punched it in my calculator (no, I did not do it in my head).


$425,000,000 total purchase price / 38,250 BTC acquired = $11,111,11 (average purchase price) - Science and maths?


Also, just for shits and giggles.  

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

Science?

Maths?

[...] caught nearly the exact top(for now anyway )! nice

Im in around 60% profit right now, will take some profit to cover fees in case we go back to my entry to stop me out (moved stop to entry)

Playing with FIRE (not the early retirement one). But good luck to you SS123, nice catch.

How am I playing with fire? I already took profits and set my stoploss as such I cannot lose money anymore, and even if I hadn't caught the top, when my stoploss hit I would've only lost 1%

 Bitcoin steadily rose from 10250 to 10765 (up $515) on Sept 14th and you executed a short with possibly a 15 minute window that was an $80 drop at best if executed flawlessly and you don't see the fire?  Dude, you're an adrenaline junkie.

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.

[nullius]

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

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

That’s a clbuttic wtf.  I somehow sense an argument against submitting oneself to braindead censorware made by code monkeys who couldn’t care less about actual effects, as long as they make you feel safe.

If you have teenagers in the house, they will anyway assuredly circumvent the block if they want to see porn.  The only block that will work is programming their brains to not desire porn.  That is not advocacy of anything in particular; it is simply an observation of a fact of life in the brilliant technocratic Utopia of the current year.  To attain an objective detachment from emotionally charged arguments, think of it like teaching your kids to cope with 24/7 immersive mass-media advertising and political propaganda.  You cannot protect them for life from ever being exposed to it—not even if you go full Amish, as I myself oftentimes wish that I could do...

Whereas your porn blocker is stopping you from viewing a gently caressing cryptocurrency website.  It would also try to stop your kids from learning about chromosome pairs of the female sex.  Fuck, did I say “sex” in the context of “XX”!?  Block me!  Block me hard!

Code:

/*
 * XXX TODO:  Stop porn blocker from blocking source code.
 */

I recall similar complaints about xxx.lanl.gov, the maths, physics, and computer science research open archive now known as Arxiv.  The xxx.lanl.gov administrator replied by suggesting that anti-nuclear activists should also block “lanl”, and anti-government people should also block “gov”.

“Go for the triple block!”  (Memorable and quoted from memory, from about two decades ago; I have not been able to find the relevant page in web.archive.org.)

If I ever make a website, I will definitely want to have “xxx” in the URL.  Fuck porn blockers.

[Xinarae*]

$11200 incoming. today? now?

You blew it for us, man.

Can't rush these things. Gotta let 'em organically happen.

Next 24 hours, blah etc penis.

Yes @BobLawblaw accurately don't go rush but definitely $11200 incoming next few days.

[fillippone]

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 is a bit of a strange average purchase price that kind of struck me when I punched it in my calculator (no, I did not do it in my head).


$425,000,000 total purchase price / 38,250 BTC acquired = $11,111,11 (average purchase price) - Science and maths?


Also, just for shits and giggles.  

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

Science?

Maths?
<...>

JJG it was quicker and bigger than expected:
https://bitcointalk.org/index.php?topic=5268108.msg55198419#msg55198419

Regarding the math, my favourite is:

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

More than 0.2% of total current supply!

[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