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

[Chalkbot]

Saw this link on /r/bitcoin, interesting stuff.

http://meaningness.com/metablog/geeks-mops-sociopaths

I just logged on to these forums for the first time in like a year today, wondering if the whole thing had been taken over by all the ignorant trolls and newbs that drove me away.

It was a bit of a serendipity that the only name I recognized posted this link. haha

[r0ach]

Saw this link on /r/bitcoin, interesting stuff.

http://meaningness.com/metablog/geeks-mops-sociopaths

Completely irrelevent for Bitcoin though, since the entire purpose of a currency is to become a monopoly, a consensus mechanism for exchange.  The less of a monopoly it has, the less useful it is.  Your link argues popularity weakens the idea, so the article is inverse to how Bitcoin actually works.  Don't try and conflate grunge music and economics.  People like money to be as boring and predictable as possible, not "cool".  Just like when you open your refrigerator, you don't want to have to guess what's edible or not.  That's definitely not cool.

[bargainbin]

... the entire purpose of a currency is to become a monopoly, a consensus mechanism for exchange.  The less of a monopoly it has, the less useful it is. ...

Bitcoin:                                        ~99.9999999% short of monopoly.
Calculated (theoretical) Usefulness: Useless.
Actual Usefulness:                         Scientists working with CERN’s Large Hadron Collider, a 17-mile subterranean loop that smashes particles at nearly the speed of light, are yet to confirm a single instance of  "Bitcoin Usefulness Event."

[bobabouey2]

Saw this link on /r/bitcoin, interesting stuff.

http://meaningness.com/metablog/geeks-mops-sociopaths

Completely irrelevent for Bitcoin though, since the entire purpose of a currency is to become a monopoly, a consensus mechanism for exchange.  The less of a monopoly it has, the less useful it is.  Your link argues popularity weakens the idea, so the article is inverse to how Bitcoin actually works.  Don't try and conflate grunge music and economics.  People like money to be as boring and predictable as possible, not "cool".  Just like when you open your refrigerator, you don't want to have to guess what's edible or not.  That's definitely not cool.

I don't think the link argues popularity weakens the idea, it is more subtle about the dynamics.  And I think its more about the impact on the creators / fanatics (ie developers) than just the overall network.

For example, in the mop phase, there are these comments:

Also, the mops also seem increasingly entitled, treating the fanatics as service workers.
Fanatics may be generous, but they signed up to support geeks, not mops. At this point, they may all quit, and the subculture collapses.

It then notes that to avoid this outcome, you need the sociopaths to take it to the next level, monetize the mops, and ultimately take control. 

I definitely see parallels to the debate over the blocksize limit.  There are clearly developers who are frustrated with what they see as demands from "reddit" that the changes should be made quicker than they are comfortable with.

And I think both extreme sides of the blockchain size debate have their own theories on who the "sociopaths" are that are trying to take control (big blockers and their conspiracy theories about blockstream, and maybe small blockers to a lesser extent when they get frustrated at people like Brian Armstrong demanding bigger blocks while his firm doesn't do much if any core development, or optimize its transaction to limit bloat.)

[r0ach]

Calculated (theoretical) Usefulness: Useless.

How much can I get paid to join your Zionist banker shill spam campaign.  I think me and the Jews have lots in common:

[bargainbin]

Calculated (theoretical) Usefulness: Useless.

How much can I get paid to join your Zionist banker shill spam campaign.  I think me and the Jews have lots in common:

[img ]https://i.imgur.com/1jEZzrA.jpg[/img]

Oy gavalt! Another race traitor goy trying to sell out



We covetous Jews don't want no meeskait scurrying household pests, lol.
Sugar & baking soda on you and your family.

[celebreze32]

Saw this link on /r/bitcoin, interesting stuff.

http://meaningness.com/metablog/geeks-mops-sociopaths

Completely irrelevent for Bitcoin though, since the entire purpose of a currency is to become a monopoly, a consensus mechanism for exchange.  The less of a monopoly it has, the less useful it is.  Your link argues popularity weakens the idea, so the article is inverse to how Bitcoin actually works.  Don't try and conflate grunge music and economics.  People like money to be as boring and predictable as possible, not "cool".  Just like when you open your refrigerator, you don't want to have to guess what's edible or not.  That's definitely not cool.

True, I wouldn't trust a young bank manager, I'd only trust an old grey haired one in a boring suit. If he was bald I'd give him a bit of extra trust. Bitcoin needs to be boring for people to trust it. Leave flashy new features to the pump and dump altcoins. Bitcoin's safe square reputation will keep its price going up.

[r0ach]

Calculated (theoretical) Usefulness: Useless.

How much can I get paid to join your Zionist banker shill spam campaign.  I think me and the Jews have lots in common:

[img ]https://i.imgur.com/1jEZzrA.jpg[/img]

Oy gavalt! Another race traitor goy trying to sell out

We covetous Jews don't want no meeskait scurrying household pests, lol.
Sugar & baking soda on you and your family.

The hofjuden intermarried with English nobility.  Since I'm related to William the 1st, all you need to do is bring over a big sack of money, we get married, then just need to get rid of like 1000 people in England and I'm king.  Don't you want to fast track this new world order?  We can start as many wars as you want, just brings lots of money.

I've already written a white paper on the subject:

Why war is good

http://bitcointalk.org/index.php?topic=1162791.0

[Fatman3001]

"batshit crazy" doesn't do this thread justice

[marcus_of_augustus]

Saw this link on /r/bitcoin, interesting stuff.

http://meaningness.com/metablog/geeks-mops-sociopaths

Completely irrelevent for Bitcoin though, since the entire purpose of a currency is to become a monopoly, a consensus mechanism for exchange.  The less of a monopoly it has, the less useful it is.  Your link argues popularity weakens the idea, so the article is inverse to how Bitcoin actually works.  Don't try and conflate grunge music and economics.  People like money to be as boring and predictable as possible, not "cool".  Just like when you open your refrigerator, you don't want to have to guess what's edible or not.  That's definitely not cool.

I agree, but it definitely has some relevance to the 'hipster' vibe surrounding 'blockchain technology' in finance (in as much as they can be hipster) and the same in fintech, VC funded start-ups surrounding bitcoin.

[billyjoeallen]

Saw this link on /r/bitcoin, interesting stuff.

http://meaningness.com/metablog/geeks-mops-sociopaths

I hate agreeing with stuff from the interweb

So mops who idiotically bought at $1000 are too stupid to distinguish between creators, fanatics and sociopaths? who knew?

[USB-S]

What if a major botnet would cryptolocker its zombies? How much would that affect the price?
I mean technically cryptolocker software would force new users into the network.

[r0ach]

What if a major botnet would cryptolocker its zombies? How much would that affect the price?
I mean technically cryptolocker software would force new users into the network.

[USB-S]

What if a major botnet would cryptolocker its zombies? How much would that affect the price?
I mean technically cryptolocker software would force new users into the network.

MAKE IT SO

You could get 10k zombies for your botnet at the cost of 2 bitcoins at hackforums. If you set the cryptolocker unlock price at around 1bitcoin, you'd need 3 people out of 10k to care enough of their data to be in profit. It's pretty basic math, right?
Might note that ransomware software costs about 1.5 btc itself.

Someone smarter than me please tell me why it cannot be done on a larger or smaller scale?

[r0ach]

You could get 10k zombies for your botnet at the cost of 2 bitcoins at hackforums. If you set the cryptolocker unlock price at around 1bitcoin, you'd need 3 people out of 10k to care enough of their data to be in profit. It's pretty basic math, right?

Someone smarter than me please tell me why it cannot be done on a larger or smaller scale?

Why not just hold them up at gunpoint and tell them invest in a William Devane Bitcoin IRA or else?

[bargainbin]

Anyone else enjoying this unexpectedly awesome rally?
Beetcoin is the best investment ever!

[r0ach]

Anyone else enjoying this unexpectedly awesome rally?
Beetcoin is the best investment ever!

The shekel is taking a beating.  Time to diversify into some Bitcorn or Altcorn?

[USB-S]

You could get 10k zombies for your botnet at the cost of 2 bitcoins at hackforums. If you set the cryptolocker unlock price at around 1bitcoin, you'd need 3 people out of 10k to care enough of their data to be in profit. It's pretty basic math, right?

Someone smarter than me please tell me why it cannot be done on a larger or smaller scale?

Why not just hold them up at gunpoint and tell them invest in a William Devane Bitcoin IRA or else?
IMG

You'd probably don't even need a gun anymore. They'd just take anything you have to offer.

Anyone else enjoying this unexpectedly awesome rally?
Beetcoin is the best investment ever!

I KNOW RIGHT
I tried investing in stocks, nowhere near as fun as this shit. It's like investing in a whole economy and seeing it develop over time. Bitcoin is one of a kind investment.

[marcus_of_augustus]

The Halvening is approaching ... fat fiat pigs will be harvested.

[bargainbin]

Anyone else enjoying this unexpectedly awesome rally?
Beetcoin is the best investment ever!

The shekel is taking a beating.  Time to diversify into some Bitcorn or Altcorn?

Dumb goy don't know we print & control all the fiat

@murcus_idioticus: CCMF?