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

[P_Shep]

He just keeps doubling down with nonsense


https://twitter.com/PeterSchiff/status/1347599706113904640

Wow, that's some special kind of twisted logic right there. He's really had to scratch the bottom of the barrel to find that justification.

[1714225501]

1714225501

[xhomerx10]

He just keeps doubling down with nonsense


https://twitter.com/PeterSchiff/status/1347599706113904640

 Ha ha ha!  Remember this one?  The son wins.

https://twitter.com/peterschiff/status/1303009420713111553?lang=en

"Against my advice my son @SchiffSpencer just bought even more #Bitcoin. Whose advice do you want to follow? A 57-year-old experienced investor/business owner who's been an investment professional for over 30 years or an 18-year-old college freshman who's never even had a job."

 His son will never even need a job now  


edit: Awww shit!  Sorry for the politics.

[lightfoot]

That is weird: Bitcoin is a lot more stable than Gold in terms of knowing exactly what is up: You can't fake it and there is no mine of gold out there, only 6.25 coins every 10 minutes.

[lightfoot]

edit: Awww shit!  Sorry for the politics.

Warned ya :-)

[OROBTC]

Figuring active lawyer guy BobLawblaw knows what he's been doing

Let me cast no illusions. I have no idea what I'm doing. I've been blessed with the ability to mostly roll Natural 20's on my "vs Luck" saving throws, thus far in life.

Be that as it may be, Gemini is now working for me.  Made my second and third small sales this morning.  Waiting on the wire transfers.  So far, so good.

[Krubster]

Another new day, another ATH. Who else is looking forward to $42069?

[El duderino_]

He just keeps doubling down with nonsense


https://twitter.com/PeterSchiff/status/1347599706113904640

Always those new excuses, just embarrassing

 

[Dabs]

That is weird: Bitcoin is a lot more stable than Gold in terms of knowing exactly what is up: You can't fake it and there is no mine of gold out there, only 6.25 coins every 10 minutes.

Interestingly, Bitcoin can only be mined on Earth. Gold can be mined from ... a lot of different planets, any other solar system, any other galaxy.

Because of the way Bitcoin is set up with 10 minute average blocks, miners are limited to about 1 minute away from the "center of hash", which happens to be Earth. You can have miners on the moon or in orbit, like some international space station, but you can't have miners more than 1 million kilometers away as that's too far and introduces latency.

It's possible for other planets to use Bitcoin, but they can't mine it, only broadcast their transactions and wait for confirmation. Mars is already too far away, as in terms of Bitcoin, it is more than a block away. It's like 15 minutes to 45 minutes away at the speed of light.

[rolling]

That is weird: Bitcoin is a lot more stable than Gold in terms of knowing exactly what is up: You can't fake it and there is no mine of gold out there, only 6.25 coins every 10 minutes.

Interestingly, Bitcoin can only be mined on Earth. Gold can be mined from ... a lot of different planets, any other solar system, any other galaxy.

Because of the way Bitcoin is set up with 10 minute average blocks, miners are limited to about 1 minute away from the "center of hash", which happens to be Earth. You can have miners on the moon or in orbit, like some international space station, but you can't have miners more than 1 million kilometers away as that's too far and introduces latency.

It's possible for other planets to use Bitcoin, but they can't mine it, only broadcast their transactions and wait for confirmation. Mars is already too far away, as in terms of Bitcoin, it is more than a block away. It's like 15 minutes to 45 minutes away at the speed of light.

I like it. Each planet gets their own bitcoin which captures the entire productive value of that planet. Exchange rates vary by productive output and are kept in check by interplanetary arbitrage.

[Biodom]

That is weird: Bitcoin is a lot more stable than Gold in terms of knowing exactly what is up: You can't fake it and there is no mine of gold out there, only 6.25 coins every 10 minutes.

Interestingly, Bitcoin can only be mined on Earth. Gold can be mined from ... a lot of different planets, any other solar system, any other galaxy.

Because of the way Bitcoin is set up with 10 minute average blocks, miners are limited to about 1 minute away from the "center of hash", which happens to be Earth. You can have miners on the moon or in orbit, like some international space station, but you can't have miners more than 1 million kilometers away as that's too far and introduces latency.

It's possible for other planets to use Bitcoin, but they can't mine it, only broadcast their transactions and wait for confirmation. Mars is already too far away, as in terms of Bitcoin, it is more than a block away. It's like 15 minutes to 45 minutes away at the speed of light.

I agree, but the number is off a little.
right now more like 8.13 min (487.6 sec) for 90.829 mil miles (146.175 mil km)
At the minimal distance (54.6 mil km) just above 3 min with maximum at 401 mil km (22.29 min).

We will need to learn how to entangle the martian node(s)...

[Gyrsur]

That is weird: Bitcoin is a lot more stable than Gold in terms of knowing exactly what is up: You can't fake it and there is no mine of gold out there, only 6.25 coins every 10 minutes.

Interestingly, Bitcoin can only be mined on Earth. Gold can be mined from ... a lot of different planets, any other solar system, any other galaxy.

Because of the way Bitcoin is set up with 10 minute average blocks, miners are limited to about 1 minute away from the "center of hash", which happens to be Earth. You can have miners on the moon or in orbit, like some international space station, but you can't have miners more than 1 million kilometers away as that's too far and introduces latency.

It's possible for other planets to use Bitcoin, but they can't mine it, only broadcast their transactions and wait for confirmation. Mars is already too far away, as in terms of Bitcoin, it is more than a block away. It's like 15 minutes to 45 minutes away at the speed of light.

I like it. Each planet gets their own bitcoin which captures the entire productive value of that planet. Exchange rates vary by productive output and are kept in check by interplanetary arbitrage.

[soullyG]

Nice article about the interplanetary hash horizon for Bitcoin here:
https://unchained-capital.com/blog/law-of-hash-horizons/

Part two here (which I hadn't read yet, will take a look now):
https://unchained-capital.com/blog/bitcoin-astronomy-part-ii/

[pönde]

I am updating Bitcoin Electrum Wallet.
https://electrum.org/#home

I downloaded these three files and saved them in the same directory.
https://raw.githubusercontent.com/spesmilo/electrum/master/pubkeys/ThomasV.asc
https://download.electrum.org/4.0.9/electrum-4.0.9-x86_64.AppImage
https://download.electrum.org/4.0.9/electrum-4.0.9-x86_64.AppImage.asc


And used these instructions to verify the Electrum wallet.
https://electrum.readthedocs.io/en/latest/gpg-check.html
Are those instructions genuine?

So I did what those instructions told. And I got these results.

$
$ gpg --keyserver keys.gnupg.net --recv-keys 6694D8DE7BE8EE5631BED9502BD5824B7F9470E6
gpg: key 2BD5824B7F9470E6: 9 duplicate signatures removed
gpg: key 2BD5824B7F9470E6: 376 signatures not checked due to missing keys
gpg: key 2BD5824B7F9470E6: "Thomas Voegtlin (https://electrum.org) <thomasv@electrum.org>" not changed
gpg: Total number processed: 1
gpg:              unchanged: 1
$
$
$
$
$
$ gpg --verify electrum-4.0.9-x86_64.AppImage.asc electrum-4.0.9-x86_64.AppImage
gpg: Signature made Fri 18 Dec 2020 21:07:20 EET
gpg:                using RSA key 6694D8DE7BE8EE5631BED9502BD5824B7F9470E6
gpg: Good signature from "Thomas Voegtlin (https://electrum.org) <thomasv@electrum.org>" [unknown]
gpg:                 aka "ThomasV <thomasv1@gmx.de>" [unknown]
gpg:                 aka "Thomas Voegtlin <thomasv1@gmx.de>" [unknown]
gpg: WARNING: This key is not certified with a trusted signature!
gpg:          There is no indication that the signature belongs to the owner.
Primary key fingerprint: 6694 D8DE 7BE8 EE56 31BE  D950 2BD5 824B 7F94 70E6
$
$
$

Did I do everything like they should be done? Are these results ok and is the Bitcoin Electrum Wallet safe and genuine?

[Biodom]

That is weird: Bitcoin is a lot more stable than Gold in terms of knowing exactly what is up: You can't fake it and there is no mine of gold out there, only 6.25 coins every 10 minutes.

Interestingly, Bitcoin can only be mined on Earth. Gold can be mined from ... a lot of different planets, any other solar system, any other galaxy.

Because of the way Bitcoin is set up with 10 minute average blocks, miners are limited to about 1 minute away from the "center of hash", which happens to be Earth. You can have miners on the moon or in orbit, like some international space station, but you can't have miners more than 1 million kilometers away as that's too far and introduces latency.

It's possible for other planets to use Bitcoin, but they can't mine it, only broadcast their transactions and wait for confirmation. Mars is already too far away, as in terms of Bitcoin, it is more than a block away. It's like 15 minutes to 45 minutes away at the speed of light.

I like it. Each planet gets their own bitcoin which captures the entire productive value of that planet. Exchange rates vary by productive output and are kept in check by interplanetary arbitrage.

<gif removed for brevity>

TNG was talking about gold-pressed latinum  , which is rare for an unknown reason (perhaps, because it cannot be replicated, unlike gold).
It might be a good idea to get some, in case it takes off...lol.

[philipma1957]

edit: Awww shit!  Sorry for the politics.

Warned ya :-)

Nice

do you think Biden tries to charge Trump

Note I just want you to do more pretty photos.

[Gyrsur]

is Bitcoin done?

[Dabs]

The point is, anything farther than 60 seconds is too far. You could say 3 minutes is still close enough, but it's a round trip time of still 6 minutes, and that's with whatever was in the mempool 6 minutes ago.

The risk is too high that any miner that far away is not going to mine any blocks in time.

I'd argue anything farther than the moon is too far, that's already a latency of 1 second at the speed of light. 2 seconds round trip.

It makes more sense to mine in the north or south poles, or in the middle of the oceans, assuming you can get power and internet all the way over there. If they use satellites for connectivity, then you add another second or so.

[BobLawblaw]

do you think Biden tries to charge Trump

EDIT: *cracks knuckles*

*places order for dip @ $39,500*

EDIT2: Filled. Order placed @ $39,000
EDIT3: Bitchcoin. Filled. Placed order @ $38,500

[Gyrsur]

broke my new Lambo. sheeeiiit!




EDIT:

Bob, it seems to me you get more professional from day to day.  

EDIT: *cracks knuckles*

*places order for dip @ $39,500*

EDIT2: Filled. Order placed @ $39,000

[marcus_of_augustus]

The point is, anything farther than 60 seconds is too far. You could say 3 minutes is still close enough, but it's a round trip time of still 6 minutes, and that's with whatever was in the mempool 6 minutes ago.

The risk is too high that any miner that far away is not going to mine any blocks in time.

I'd argue anything farther than the moon is too far, that's already a latency of 1 second at the speed of light. 2 seconds round trip.

It makes more sense to mine in the north or south poles, or in the middle of the oceans, assuming you can get power and internet all the way over there. If they use satellites for connectivity, then you add another second or so.

...assumes we never develop quantum-entangled communications which are theoretically 'instantaneous'

... on the other point about current satellite latencies, Musk's Starlink cloud of sats architecture has latency better than 20ms ping times and in many intercontinental link situations will be faster than current f.o. cables and switching networks.