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

[Cconvert2G36]

3rd party mixing services have got to go. How would this mixing work exactly?

It's all very technical Mr. Corn. Imagine, if you will, coins moving, but the reason that they moved from here to there is somewhat obfuscated, secured by a small smart contract, with little identifying information between the contract and the coins moving...

You can imagine the amount of exchange accounts being registered right now, to take advantage of this break through.

Mewn boys, mewn.

[1714670651]

1714670651

[1714670651]

1714670651

[1714670651]

1714670651

[1714670651]

1714670651

[arklan]

nice little launch this evening.

think it'll hold past monday?

i'll bet my entire btc supply that it won't!

(that's 5,242 WHOLE satoshi's!)

[BitUsher]

3rd party mixing services have got to go. How would this mixing work exactly?

There are many other methods of removing 3rd parties in mixing services , This allows one to both remove the third party and do so privately without outsiders knowing.

"Many other transaction types also use the same hash locked pattern, but privacy can be further improved: A ZK-payment can be transformed using the CoinSwap approach where they payer first pays into an ordinary 2-of-2 escrow+refund with the payee. The then would perform the ZK-payment transactions described above externally to the Bitcoin network, and if everything goes through without cheating the payer just signs a 2-of-2 release to pay the payee directly, without disclosing to the network that a hashlocked transaction was used. If the payer fails to release the escrow directly, the payee can just release it by announcing the hashlock and hashlock redeem. "

----------------------------------

Wrapping ones head around these concepts may be tricky at first but using them after the code is written can be so simple that your grandmother can execute a  zk-SNARKs without actually understanding the underlying code. This is going to have far reaching implications that is going to radically effect everyday life. There is a long list of implications and use cases that I could discuss ad naseum, Here are some more-

Hackers or security researchers could sell exploits/bugs with security bounties and privately and securely prove the information is legitimate without compromising their identity and risking litigation from an embarrassed organization.

Securely validate identities without disclosing the details

Authenticate data or passwords without disclosing the secret or password

[BlindMayorBitcorn]

Criminal smart contracts is so bullish. 

[BitUsher]

[An update on the solar solo mine would be groovy too.]

When building a Solar power grid or using microhydro one must plan for peak electrical use. I prefer Microhydro, but the cost of solar is getting much cheaper every year. Normally, one would float charge batteries and than burn off extra electricity to heat water , but I find that solar water heaters are better suited for this task, and excess electricity that would normally be discarded is used to mine bitcoin.

What would be the best of all worlds is using those ASICs to heat water as well to close the loop and recycle the waste heat.

[Cconvert2G36]

[An update on the solar solo mine would be groovy too.]

When building a Solar power grid or using microhydro one must plan for peak electrical use. I prefer Microhydro, but the cost of solar is getting much cheaper every year. Normally, one would float charge batteries and than burn off extra electricity to heat water , but I find that solar water heaters are better suited for this task, and excess electricity that would normally be discarded is used to mine bitcoin.

What would be the best of all worlds is using those ASICs to heat water as well to close the loop and recycle the waste heat.

So you're actually doing this, or just describing it? Antminers? How many kW?

Solo mining was the important part.

[Cconvert2G36]

Criminal smart contracts is so bullish. 

It's puff, puff, pass. Mr Corn.

[spike420211]

nice little launch this evening.

think it'll hold past monday?

i'll bet my entire btc supply that it won't!

(that's 5,242 WHOLE satoshi's!)

Would be nice...
I bought a whole BTC from Coinbase @ $422, I won't have access to it til Mon. nite.

[BlindMayorBitcorn]

Criminal smart contracts is so bullish. 

It's puff, puff, pass. Mr Corn.

[adamstgBit]

nice little launch this evening.

think it'll hold past monday?

i'll bet my entire btc supply that it won't!

(that's 5,242 WHOLE satoshi's!)

wtf you have no more coins? O_o? why why why would you have no more coins?

[BitUsher]

So you're actually doing this, or just describing it? Antminers? How many kW?

Solo mining was the important part.

I haven't started recycling the waste heat yet... thinking of trapping heat with an intercooler in a bath of Novec but need more time to test the efficiency of several designs.

Disclosing capacity details or ones exact location isn't advisable for miners in general as there are many security considerations to be aware of, so lets stick to the more abstract reasons why I mentioned how one can compete with large industrial miners and still remain profitable.

There are many other incentives we can discuss which increase profitability of solo/p2pool miners as well I can discuss...

[arklan]

nice little launch this evening.

think it'll hold past monday?

i'll bet my entire btc supply that it won't!

(that's 5,242 WHOLE satoshi's!)

wtf you have no more coins? O_o? why why why would you have no more coins?

sold most around $100 due to unemployment. since 2008, i've only had a job last more then 6 months twice. last gig was going well, but got laid off dec. 9, day after my birthday...

it's been a rough patch.

got married in sept 2015 though, which is nice.

[Cconvert2G36]

So you're actually doing this, or just describing it? Antminers? How many kW?

Solo mining was the important part.

I haven't started recycling the waste heat yet... thinking of trapping heat with an intercooler in a bath of Novec but need more time to test the efficiency of several designs.

Disclosing capacity details or ones exact location isn't advisable for miners in general as there are many security considerations to be aware of, so lets stick to the more abstract reasons why I mentioned how one can compete with large industrial miners and still remain profitable.

There are many other incentives we can discuss which increase profitability of solo/p2pool miners as well I can discuss...

Wow, Novec baths are in the development plan. I understand that it's all very super cereal secret stuff. Say no more.

[nioc]

I have spent hours catching up on this thread.  Bypassed the posts from JJG and AM.

The only reason btc is going up is because I found out yesterday (Tues) that I am getting a payment in btc tomorrow (Thurs) that is of an exact amount of USD.  So btc going up means I will receive less btc.  Then the btc price will go down.  Never fails.  Never mind all the other reasons you can come up with for the price movements.  Price when I found out I was getting paid, 420 and price now 435.  Will post the price when I receive the btc.  I know you are all waiting with baited breath.

[BlindMayorBitcorn]

The large man with numbers after his name got me thinking more about decentralization and nodes.

All we need to protect ourselves from this cataclysmic event [drop in full nodes] is to have some slightly above average dedicated Bitcoin nutters. A quick look at the WO thread tells me we're safe for now.

BitUsher is clearly one. (No offence.) How many nutters are enough? Srs question.

[arklan]

I have spent hours catching up on this thread.  Bypassed the posts from JJG and AM.

The only reason btc is going up is because I found out yesterday (Tues) that I am getting a payment in btc tomorrow (Thurs) that is of an exact amount of USD.  So btc going up means I will receive less btc.  Then the btc price will go down.  Never fails.  Never mind all the other reasons you can come up with for the price movements.  Price when I found out I was getting paid, 420 and price now 435.  Will post the price when I receive the btc.  I know you are all waiting with baited breath.

but, it's friday.

[arklan]

The large man with numbers after his name got me thinking more about decentralization and nodes.

All we need to protect ourselves from this cataclysmic event [drop in full nodes] is to have some slightly above average dedicated Bitcoin nutters. A quick look at the WO thread tells me we're safe for now.

BitUsher is clearly one. (No offence.) How many nutters are enough? Srs question.

full node here. i got a terabyte of space and a 60 mb connection. *shrug* why not.

[nioc]

I have spent hours catching up on this thread.  Bypassed the posts from JJG and AM.

The only reason btc is going up is because I found out yesterday (Tues) that I am getting a payment in btc tomorrow (Thurs) that is of an exact amount of USD.  So btc going up means I will receive less btc.  Then the btc price will go down.  Never fails.  Never mind all the other reasons you can come up with for the price movements.  Price when I found out I was getting paid, 420 and price now 435.  Will post the price when I receive the btc.  I know you are all waiting with baited breath.

but, it's friday.

That's what I get for working 7 days this week  Make that Thursday and Saturday

[BitUsher]

One reason solominers have an incentive over large miners deals with security. Having a few miners (or many) that use excess free waste electricity in a private domicile can be more secure than a large warehouse which has added risks from theft , fire hazard, acts of nature destroying the investment, tax authorities looking to steal profits, ect,...

Right now many industrial miners are enjoying a brief window of calm besides a warehouse or 2 burning down on occasion... But what happens when the Chinese government starts looking into the secret agreements those miners are making for discounted hydro power and what happens when the tax authorities start auditing these mining companies?

The bottom line is no one knows for sure if the trend towards mining centralization will continue or not and there are incentives either way ... but some of us haven't given up on this valid bitcoin concern and are still exploring solutions.

[Cconvert2G36]

The large man with numbers after his name got me thinking more about decentralization and nodes.

All we need to protect ourselves from this cataclysmic event [drop in full nodes] is to have some slightly above average dedicated Bitcoin nutters. A quick look at the WO thread tells me we're safe for now.

BitUsher is clearly one. (No offence.) How many nutters are enough? Srs question.

full node here. i got a terabyte of space and a 60 mb connection. *shrug* why not.

Yeap, looking like the month will end with about 290 GB of traffic. Didn't even notice it going. Gbps fiber has been laid through the hood, but I'm still on cable for the time being.