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

[ChartBuddy]

Explanation

[AlcoHoDL]

[...]

Fun Fact...

Last Full Bitcoin to be added to the network will take approx 34 years (Approx. Block 5,168,390 -> Last Reward Block)

I didn't understand what you mean by "Last Full Bitcoin to be added to the network"?  and this Approx. Block 5,168,390 -> Last Reward Block?

[...]

What he means is that all mining from block 5,168,390 (2106) until the last non-zero-reward block (2140) will only add one (1) Bitcoin to the network.

Makes you appreciate the condensed power a single Bitcoin can have... By that time people will likely be using the sat as a unit of measure, for practical purposes.

Blessed are those who own one or more whole coins...

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[hisslyness]

[...]

Fun Fact...

Last Full Bitcoin to be added to the network will take approx 34 years (Approx. Block 5,168,390 -> Last Reward Block)

I didn't understand what you mean by "Last Full Bitcoin to be added to the network"?  and this Approx. Block 5,168,390 -> Last Reward Block?

[...]

What he means is that all mining from block 5,168,390 (2106) until the last non-zero-reward block (2140) will only add one (1) Bitcoin to the network.

Makes you appreciate the condensed power a single Bitcoin can have... By that time people will likely be using the sat as a unit of measure, for practical purposes.

Blessed are those who own one or more whole coins...

Exactly!.. Just mind boggling to think how much 1 whole Bitcoin is truly worth! i don't think i need to repeat the same rhetoric about trying to accumulate a 1 whole Bitcoin...

In regards to rounding, it was in relations to halving cycle rewards... you obviously can't have 1/2 a SAT, so it was rounded up or down pending on the bit... so it wasn't a true halving.

[BitcoinBunny]

This is hilarious. 

https://twitter.com/NoContextBrits/status/1629975959108481025

[ChartBuddy]

Explanation

[philipma1957]

Bitcoin is the most amazing Mathematical Wonder or Mathematical Miracle like Steve Wozniak said it once.

If you look at the below image you might see halving's block#, block reward and halving year.  But the most interesting column in this is Binary (sats).

Let me explain why...

Many people still think that bitcoin's 21 million limit is somehow hard-coded in its source code as a "number". Yes it is set in the code but it's not set as a number or like traditionally you might assume something like

CONST INT BITCOIN_MAX_SUPPLY = 21,000,000, not it's not like that.

It's pure math and algorithm, you might be amazed if you did not know this before that 21 million limit is not set in the code anywhere. But it's the reward that "Binary (sats)" column shown below is the logic that is enforcing the 21 million bitcoin limit.

If you notice after each halving that the binary column is shirking, in C++ terms it's called shifting. Shift or right shift in binary is technically like dividing any number by 2. So after each halving reward is divided by two and that binary is making sure it's done in a style. If you don't know this already that bitcoin does not deal in floating points or decimal numbers but only integers, so for example on at 29'th halving if you see reward is reduced from 9 sats to 4 sats (instead of 4.5) it is rounded off thanks to binary for keeping it simple from 1001 to 100.

Anyway, I saw this tweet and thought of sharing it




https://twitter.com/Peer__2__Peer/status/1629844105277722625

so in 2036 when I turn 79 the reward will be

[ChartBuddy]

Explanation

[hisslyness]

Bitcoin is the most amazing Mathematical Wonder or Mathematical Miracle like Steve Wozniak said it once.

If you look at the below image you might see halving's block#, block reward and halving year.  But the most interesting column in this is Binary (sats).

Let me explain why...

Many people still think that bitcoin's 21 million limit is somehow hard-coded in its source code as a "number". Yes it is set in the code but it's not set as a number or like traditionally you might assume something like

CONST INT BITCOIN_MAX_SUPPLY = 21,000,000, not it's not like that.

It's pure math and algorithm, you might be amazed if you did not know this before that 21 million limit is not set in the code anywhere. But it's the reward that "Binary (sats)" column shown below is the logic that is enforcing the 21 million bitcoin limit.

If you notice after each halving that the binary column is shirking, in C++ terms it's called shifting. Shift or right shift in binary is technically like dividing any number by 2. So after each halving reward is divided by two and that binary is making sure it's done in a style. If you don't know this already that bitcoin does not deal in floating points or decimal numbers but only integers, so for example on at 29'th halving if you see reward is reduced from 9 sats to 4 sats (instead of 4.5) it is rounded off thanks to binary for keeping it simple from 1001 to 100.

Anyway, I saw this tweet and thought of sharing it




https://twitter.com/Peer__2__Peer/status/1629844105277722625

so in 2036 when I turn 79 the reward will be

0.39062500BTC

[Lainta]

BREAKING: 🇺🇸New bill passed in Wyoming protecting #bitcoin users. 👀⚡️

The new "HB0086 Disclosure of private cryptographic keys" legislation states, “No person shall be compelled to produce a private key or make a private key known to any other person"

https://twitter.com/BitcoinNewsCom/status/1629888777207382016?t=_eppmzvOQ5K8ITT46IMZUw&s=19

[philipma1957]

Bitcoin is the most amazing Mathematical Wonder or Mathematical Miracle like Steve Wozniak said it once.

If you look at the below image you might see halving's block#, block reward and halving year.  But the most interesting column in this is Binary (sats).

Let me explain why...

Many people still think that bitcoin's 21 million limit is somehow hard-coded in its source code as a "number". Yes it is set in the code but it's not set as a number or like traditionally you might assume something like

CONST INT BITCOIN_MAX_SUPPLY = 21,000,000, not it's not like that.

It's pure math and algorithm, you might be amazed if you did not know this before that 21 million limit is not set in the code anywhere. But it's the reward that "Binary (sats)" column shown below is the logic that is enforcing the 21 million bitcoin limit.

If you notice after each halving that the binary column is shirking, in C++ terms it's called shifting. Shift or right shift in binary is technically like dividing any number by 2. So after each halving reward is divided by two and that binary is making sure it's done in a style. If you don't know this already that bitcoin does not deal in floating points or decimal numbers but only integers, so for example on at 29'th halving if you see reward is reduced from 9 sats to 4 sats (instead of 4.5) it is rounded off thanks to binary for keeping it simple from 1001 to 100.

Anyway, I saw this tweet and thought of sharing it




https://twitter.com/Peer__2__Peer/status/1629844105277722625

so in 2036 when I turn 79 the reward will be

0.39062500BTC

yep and by that time things will be a lot different than today.

Hoping to stick around to at least 2052 (I would be 95)

but in the next 13 years 2023 to 2036 we should see just how big a deal BTC will be.

[shahzadafzal]

so in 2036 when I turn 79 the reward will be

0.39062500BTC

You mean?

$195,312.5 to $390,625

[BobLawblaw]

[ChartBuddy]

Explanation

[Popkon6]

Yes,

Hey buddy ,

Can you tell me if there is any new news?

[hisslyness]

so in 2036 when I turn 79 the reward will be

0.39062500BTC

You mean?

$195,312.5 to $390,625

Minimum! 

[ChartBuddy]

Explanation

[AlcoHoDL]

so in 2036 when I turn 79 the reward will be

0.39062500BTC

You mean?

$195,312.5 to $390,625

($195,312.5 to $390,625) / 0.390625 BTC = $500,000 to $1,000,000 / BTC

I find these prices a bit conservative for 2036. I hope we get there by 2028. Whatever happens, it's still a win for HoDLers.

I would advise any Bitcoin newbie to set their target at reaching 1 whole BTC. They should attain f.u. status within the next 10 years.

[BitcoinBunny]

Snake Sunak made another deal with the United Nazis of Europe.

https://www.bbc.co.uk/news/live/uk-politics-64779415

Sunak says he looks forward to working with Von der Leyen on future matters, including climate change scams and migration legalised invasions.