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

[ChartBuddy]

Coin
Explanation

[1714953303]

1714953303

[1714953303]

1714953303

[1714953303]

1714953303

[OSCA]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

[OSCA]

[yet another eightfour-paragraph opinion from yet another opinionated poster on this thread]

Passive-aggressive, to boot

?

I'm not being passive-aggressive, nor (I think) am I being particularly opinionated by suggesting that I would prefer to see Dr. Stolfi's ideas taken to the next level, rather than just encouraging him to continue to post random opinions.

He is the only poster on here that I know of that has identified himself specifically as an academic with an interest in Bitcoin, so that puts him in a unique position to educate us all with his erudite analysis of this subject.

Now that there is an official outlet for Dr. Stolfi's hard-won Bitcoin expertise, I would like to see him take advantage of it.  Wouldn't you?

Sure you're passive-aggressive. Something about his doctorate just rubs you the wrong way (unpleasant grad school experience?), and so you vent.  Every chance you get.
As far as I know, Jorge hasn't identify himself as an academic, but rather was outed as one. If the phrase  "academic interest" misled you, it has nothing to do with degrees, tenure, or academic institutions.
Think "curiosity."

Apparently you're academic background is in psychology  

Thanks for the pop psychoanalysis.  I value your opinion.  Really.

*your
I'm good at spellinks, too.

Must you get all peevish, instead of sincerely thanking me for putting you on the road to mental health & clearing up your confusionses?

[bambou]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

Hmyea, was just "Hype" to shave the consumerist sheeps and their VC lords.

Now, as the global financial crisis looms, back to the serious business of ensuring the robustness and inalienability of the network.

[JorgeStolfi]

Convincing should be pretty easy if the rule change goes against the interest of the majority of the bitcoin community. And if it doesn't we don't have a problem in the first place.

Why should the miners take such a huge gamble. What kind of rule change would justify taking such a risk?

For definiteness, consider postponing the next halving by 2 years, but then reducing the halving interval to 2 years instead of 4, so that the total issuance woudl still be ~21 M BTC. 

That change would means something like 150 million USD of extra revenue over 2 years to a majority mining cartel. (Too lazt to check the number now, but it is that order of magnitude.) That obviously could make the difference beween getting rich or going bankrupt,

So, the motivation for the miners would be very strong.  All other players would be against that change in principle, because the would see little gain (or some loss) for them at various time scales, and "the protocol is sacred".  But, if the change were to happen, they would not be directly harmed, and could live with it.

Would the cartel be able to impose that change on the rest of the community?  I believe that it would.  The "self-interest" argument works better the other way: why would the "economic majority" crash the price and lose all their investment, by trying to fight the cartel?  In order to protect their investment, most holders and companies would pretend to approve the change, and would tell everybody that it was "good for bitcoin"...

[conspirosphere.tk]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

Consumerist money is fiat which banks or gov'ts pull out of their arses liberally, therefore it's inflated and therefore it's the bad money which everyone try to get rid of as per the Gresham's law, which is why consumerism exists at all.
Serious money aka sound money is not like that shit.  

[xyzzy099]

*your
I'm good at spellinks, too.

Must you get all peevish, instead of sincerely thanking me for putting you on the road to mental health & clearing up your confusionses?

I would really like to see how Jorge's ideas stand up to academic scrutiny, wouldn't you, (ex)NLC?

Not sure what your issue is here.

[adamstgBit]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

people are CONFUSED by the blocksize limit. people trying to rationalize a 7TPS monetary system holding value, the NEED to believe in bitcoin value is very powerful!  

bitcoin has always been about building a new monetary system which exist as a ghost outside the machine, accessible to all, anywhere anytime. don't worry, we will have our cake and eat it too, block size will increase and so will full node count, and it will be <5cent a TX and there will be totally free trustless "micropayment channels" and we'll have side chains processing stock market trades / smart contracts in a transparent and super fast irreversible irrefutable manner
give it 2 years
BAM 32,000$
 

[OSCA]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

Consumerist money is fiat which banks or gov'ts pull out of their arses liberally, therefore it's inflated and therefore it's the bad money which everyone try to get rid of as per the Gresham's law, which is why consumerism exists at all.
Serious money aka sound money is not like that shit.  

So money is "sound" when it's super expensive to use? With sound money a 2-dollar cup of coffee costs $22 to buy?
Must use shitty fiat for real world stuffs?

[conspirosphere.tk]

So money is "sound" when it's super expensive to use? With sound money a 2-dollar cup of coffee costs $22 to buy?
Must use shitty fiat for real world stuffs?

OK, you win: buy stuff with your BTC so you won't have a reason to come back.

[adamstgBit]

we just spiked to 260!!!!!!!! 

[ssmc2]

we just spiked to 260!!!!!!!! 

[adamstgBit]

we just spiked to 260!!!!!!!! 

[adamstgBit]

the FUD is unwarranted even if we keep the 1MB limit ( which we aren't ) all that would really do for the foreseeable future is price out mirco TX's and bring the TX cost at about 10cents, buying over priced coffee is still feasible, and we are still undercut paypals 2% +50cents TX fee massively

[OSCA]

*your
I'm good at spellinks, too.

Must you get all peevish, instead of sincerely thanking me for putting you on the road to mental health & clearing up your confusionses?

I would really like to see how Jorge's ideas stand up to academic scrutiny, wouldn't you, (ex)NLC?

Not sure what your issue is here.

No.  That's why I'm reading this internet forum and not an academic journal.

As for yourself, feel free to commission him, sponsor him through Patreon, crowd-fund his research. See if you could better his current engagement & interest him in bitcoin research. Free market at work.

Better still, lead by example! I encourage you to publish. Surely there's a skoolarly artikel in you somewhere, no?  Perchance even a little book?
In the meantime, kindly allow him to opine on this internet forum with the rest of us.

[rjclarke2000]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

people are CONFUSED by the blocksize limit. people trying to rationalize a 7TPS monetary system holding value, the NEED to believe in bitcoin value is very powerful!  

bitcoin has always been about building a new monetary system which exist as a ghost outside the machine, accessible to all, anywhere anytime. don't worry, we will have our cake and eat it too, block size will increase and so will full node count, and it will be <5cent a TX and there will be totally free trustless "micropayment channels" and we'll have side chains processing stock market trades / smart contracts in a transparent and super fast irreversible irrefutable manner
give it 2 years
BAM 32,000$
 

In 2 years I will be very rich then. May this be the case.

[xyzzy099]

In the meantime, kindly allow him to opine on this internet forum with the rest of us.

I have no interest in interfering with Dr. Stolfi's ability to opine anywhere he chooses, but thanks for your concern on his behalf

I will continue to urge him to make use of the opportunity offered by Ledger though, as I am sure I am not alone in being curious as to what rigorous academic analysis of his ideas might teach us all.

[dloghwak]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

people are CONFUSED by the blocksize limit. people trying to rationalize a 7TPS monetary system holding value, the NEED to believe in bitcoin value is very powerful!  

bitcoin has always been about building a new monetary system which exist as a ghost outside the machine, accessible to all, anywhere anytime. don't worry, we will have our cake and eat it too, block size will increase and so will full node count, and it will be <5cent a TX and there will be totally free trustless "micropayment channels" and we'll have side chains processing stock market trades / smart contracts in a transparent and super fast irreversible irrefutable manner
give it 2 years
BAM 32,000$
 

In 2 years I will be very rich then. May this be the case.

2 years ago he predicted the same high figures, didn't end that well.

[bad_char5]

the FUD is unwarranted even if we keep the 1MB limit ( which we aren't ) all that would really do for the foreseeable future is price out mirco TX's and bring the TX cost at about 10cents, buying over priced coffee is still feasible, and we are still undercut paypals 2% +50cents TX fee massively

You buy overpriced coffee by using PayPal? I use cash or CC, costs me exactly 0% +00 cents.  Try it!

[wakasaki808]

are we rich yet??