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

[ChartBuddy]

Coin
Explanation

[Andre#]

Nobody here sees the potential of 21 Inc's platform? What Google did for making money with websites (generate revenue with ads), 21 Inc may do for making money with web-services (generate revenue with pay-per-use). I.e. 21 Inc might be the next Google. Guess what that will do for Bitcoin...  

I don't see the potential. You don't need special chips or computers to do micro payments. As a charity node, a standard Raspberry Pi 2 is cheaper. And the mining part of it is really lame. To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled, or there is a dimension to this that is still a secret.

Indeed, this HW doesn't do anything that isn't already possible. Just like the first webserver didn't do anything that wasn't already possible (publish some text over the Internet -- you could also just download files instead). But it did make it very easy.

Google turned website into something that you can make money with on a per-use basis. The revenue model of 21 Inc may turn webservices also into something you can make money with on a per-use basis. It may take some time to convince developers to start creating services using their platform/API, but nothing similar exists, yet.

A webserver (Apache) is software, not hardware. I made a micro payment solution for web content via sms payments in 2001. Micropayments is not a new revenue model. Bitcoin can make this happen in a big way. ChangeTip is leading the way right now.

I first wanted to write an elaborate answer. Then I saw this blog.

https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

I have nothing more to add.

[BlindMayorBitcorn]

It’s a devkit for future devices which would have native Bitcoin support (wallets & coin-generation) for identification (private keys), and micro-transactions.

Well whatever the hell it does, good luck to 'em.

[Norway]

Nobody here sees the potential of 21 Inc's platform? What Google did for making money with websites (generate revenue with ads), 21 Inc may do for making money with web-services (generate revenue with pay-per-use). I.e. 21 Inc might be the next Google. Guess what that will do for Bitcoin...  

I don't see the potential. You don't need special chips or computers to do micro payments. As a charity node, a standard Raspberry Pi 2 is cheaper. And the mining part of it is really lame. To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled, or there is a dimension to this that is still a secret.

Indeed, this HW doesn't do anything that isn't already possible. Just like the first webserver didn't do anything that wasn't already possible (publish some text over the Internet -- you could also just download files instead). But it did make it very easy.

Google turned website into something that you can make money with on a per-use basis. The revenue model of 21 Inc may turn webservices also into something you can make money with on a per-use basis. It may take some time to convince developers to start creating services using their platform/API, but nothing similar exists, yet.

A webserver (Apache) is software, not hardware. I made a micro payment solution for web content via sms payments in 2001. Micropayments is not a new revenue model. Bitcoin can make this happen in a big way. ChangeTip is leading the way right now.

I first wanted to write an elaborate answer. Then I saw this blog.

https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

I have nothing more to add.

The article sums it up in the begining: 21 Inc's computer is "A $400 glorified Raspberry Pi with a shitty mining chip glued on top."

And Altair 8800 was never as important as TI994A, Oric 1, Osborne 1, ZX 80/81/Spectrum/QL or VIC20/Commodore 64.

[RenegadeMan]

Nobody here sees the potential of 21 Inc's platform? What Google did for making money with websites (generate revenue with ads), 21 Inc may do for making money with web-services (generate revenue with pay-per-use). I.e. 21 Inc might be the next Google. Guess what that will do for Bitcoin...  

I don't see the potential. You don't need special chips or computers to do micro payments. As a charity node, a standard Raspberry Pi 2 is cheaper. And the mining part of it is really lame. To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled, or there is a dimension to this that is still a secret.

Indeed, this HW doesn't do anything that isn't already possible. Just like the first webserver didn't do anything that wasn't already possible (publish some text over the Internet -- you could also just download files instead). But it did make it very easy.

Google turned website into something that you can make money with on a per-use basis. The revenue model of 21 Inc may turn webservices also into something you can make money with on a per-use basis. It may take some time to convince developers to start creating services using their platform/API, but nothing similar exists, yet.

A webserver (Apache) is software, not hardware. I made a micro payment solution for web content via sms payments in 2001. Micropayments is not a new revenue model. Bitcoin can make this happen in a big way. ChangeTip is leading the way right now.

I first wanted to write an elaborate answer. Then I saw this blog.

https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

I have nothing more to add.

I find that article to be as ambiguous as 12 Inc's strategy! It seems to criss-cross itself and I don't know whether it's positive towards what 21 Inc are doing or negative (or it's just sidelined their device altogether and gone on to talk about how this concept of using bitcoin in ecommerce to remove the need for identity is the real innovation).

As the previous poster just noted, this opening...

So, 21 Inc. finally unveiled their first product yesterday.

A $400 glorified Raspberry Pi with a shitty mining chip glued on top.

...seems to be very negative.

Then this bit...

Today, content on the internet is powered by advertising. Because we lack microtransactions. Google & Facebook & Twitter are advertising companies. 21 aims to change that. The internet runs on advertising. 21 aims to change that.

Now, link unforgeable bitcoin private keys with biometric identification.

You just killed:

Passwords…

sign-ups…

e-mail confirmation…

login screens

This would remove a ton of hassle and frustration from the whole online experience.

...seems to be giving them the thumbs up.

Then this bit at the end...

Why can’t you preload the 21 device? Because you don’t kill identity-theft if you bought the micro-bitcoins from someone else, instead of generating them yourself.

....is the epitome of ambiguity!


That's what I find so often with hyperbole of a major "release" of products like this; a following that's just as confused and unclear.

[RenegadeMan]

Good morning Bitcoinland.

I see we had a little action last night but we seem to be coming back to $230 pretty consistently lately.

Must be driving the daytraders crazy. Long-term holders yawn.

What is actually our (long term hodling cult, inc.) target? 10 000? 100 000?? 1 000 000???

Putting a dollar value on it is difficult. I hope to never sell any bitcoins for fiat currency but rather spend them for goods and services. Who knows what the dollar will be worth?

That said, I'd hope to see at least $10k within a few years, in today's dollars. If the dollar tanks, multiply accordingly.

It's virtually impossible to forecast this teasing investment called bitcoin! But one thing everyone needs to remember, just when it looks like the thing's going nowhere fast and "nothing is happening" it could take off. When BTC first jumped into the $ hundreds it didn't stay there too long before dropping back into double digits again. But then meandered along for six months between ~$70 and ~$130 seemingly like the ATH had been reached and "those glory days are now over". Well, I believe we're in the same situation with the next massive pump not too far away. Considering the diabolical situation with fiat across the world and the Fed having backed themselves into such an inextricable corner, it could come at any moment. The trick will be to have enough patience that you don't miss it.

How silly would you have felt selling all your BTC in early Oct 2013 to then see it go through that miraculous rise? The next rise is likely to make that previous ATH look tame so be ready for it.

[ChartBuddy]

Coin
Explanation

[Norway]

Nobody here sees the potential of 21 Inc's platform? What Google did for making money with websites (generate revenue with ads), 21 Inc may do for making money with web-services (generate revenue with pay-per-use). I.e. 21 Inc might be the next Google. Guess what that will do for Bitcoin...  

I don't see the potential. You don't need special chips or computers to do micro payments. As a charity node, a standard Raspberry Pi 2 is cheaper. And the mining part of it is really lame. To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled, or there is a dimension to this that is still a secret.

Based on the story of 21 Inc so far my guess is your line...

To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled....

...is the reality of the situation. I think these guys are riding a bitcoin VC feeding frenzy but lack clear strategy or understanding.

If you haven't already heard this podcast from 13th Sep, have a listen to Chris Derose and Joshua Unseth's take on what 21 Inc are doing; I think it's very very funny. Go to time 15:05 in episode #16 of the Counterparty weekly update for a hilarious take on the whole thing.

https://letstalkbitcoin.com/blog/post/xcp-weekly-update-16-joel-and-thomas-from-swarm

Ha ha ha, what a great rant! Thanks for the link RenegadeMan!

[brg444]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

[Norway]

brg444 is obviously on the payroll of an ad agency 

[RenegadeMan]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

Nah, I think he had his tongue-firmly-planted-in-cheek while he typed this and was rolling his eyes....

[BlindMayorBitcorn]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

What was the second option again..?

[Norway]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

Nah, I think he had his tongue-firmly-planted-in-cheek while he typed this and was rolling his eyes....

Are you sure?
https://www.reddit.com/user/brg444

[RenegadeMan]

21 inc are either geniuses so far ahead of the curve we can't even see it, or goats enjoying splurging a fuck ton of money on convoluted junk. I very much look forward to finding out which they are and hopefully we'll know soon.

I vote geniuses!
https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

Nah, I think he had his tongue-firmly-planted-in-cheek while he typed this and was rolling his eyes....

Are you sure?
https://www.reddit.com/user/brg444

No.

Maybe I had MY tongue-firmly-planted-in-cheek and was rolling MY his eyes when I made that comment.

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

Nobody here sees the potential of 21 Inc's platform? What Google did for making money with websites (generate revenue with ads), 21 Inc may do for making money with web-services (generate revenue with pay-per-use). I.e. 21 Inc might be the next Google. Guess what that will do for Bitcoin...  

I don't see the potential. You don't need special chips or computers to do micro payments. As a charity node, a standard Raspberry Pi 2 is cheaper. And the mining part of it is really lame. To me, it just sounds like a clusterfuck of bitcoin buzzwords. Either the VCs have been fooled, or there is a dimension to this that is still a secret.

Indeed, this HW doesn't do anything that isn't already possible. Just like the first webserver didn't do anything that wasn't already possible (publish some text over the Internet -- you could also just download files instead). But it did make it very easy.

Google turned website into something that you can make money with on a per-use basis. The revenue model of 21 Inc may turn webservices also into something you can make money with on a per-use basis. It may take some time to convince developers to start creating services using their platform/API, but nothing similar exists, yet.

A webserver (Apache) is software, not hardware. I made a micro payment solution for web content via sms payments in 2001. Micropayments is not a new revenue model. Bitcoin can make this happen in a big way. ChangeTip is leading the way right now.

I first wanted to write an elaborate answer. Then I saw this blog.

https://elux.svbtle.com/the-21-inc-computer-is-the-new-altair-8800

I have nothing more to add.

Dudes, this thing keeps looping back on itself. It can't mean devices pay each other on the blockchain. It would be a blizzard of dust transactions that would require GB sized blocks. They have their own micropayments server for that. But if they have their own micropayments server, why use bitcoin at all??

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

So anyone check out Circle Pay yet?  I updated my app and added a debit card.

It's free banking, so what's the catch?  You can now convert your wallet to fiat with one click. They make it way TOO easy to convert your wallet with one click. If you accidentally click the button, you sell ALL your bitcoins.  If I had millions and wanted to buy at these low prices, I might be tempted to pull such a stunt, except you know, that whole honesty thing. 

But seriously, free banking.  not sooooper cheap. free.  This is their response to Coinbase just outright paying people to get wallets through their referral program.  It's early internet business model:

1. burn money to gain market share
2. Sell out or IPO before you even have to monetize customer base.

[ChartBuddy]

Coin
Explanation

[aztecminer]

So anyone check out Circle Pay yet?  I updated my app and added a debit card.

It's free banking, so what's the catch?  You can now convert your wallet to fiat with one click. They make it way TOO easy to convert your wallet with one click. If you accidentally click the button, you sell ALL your bitcoins.  If I had millions and wanted to buy at these low prices, I might be tempted to pull such a stunt, except you know, that whole honesty thing. 

But seriously, free banking.  not sooooper cheap. free.  This is their response to Coinbase just outright paying people to get wallets through their referral program.  It's early internet business model:

1. burn money to gain market share
2. Sell out or IPO before you even have to monetize customer base.

it sounds like a great place to sell bitcoins fast. i cant think of anything else to do there. it almost sounds like an elaborate scheme to trick everyone out of their bitcoins .