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

[jbreher]

YOu have 4200 fucking btc???

Those BTC must be fucking. How else could they have multiplied to such a number?

[aesma]

Source : http://www.zerohedge.com/news/2017-08-16/salt-wampum-benjamins-bitcoin-next

As an aside consider the following statement by Bitcoin Watch (courtesy Goldman Sachs):

“BTC worldwide computational output is currently over 350 exaflops – 350,000 petaflops – or more than 1400 times the combined capacity of the top 500 supercomputers in the world.”

Needless to say, a tremendous amount of computing resources and energy are being used by BTC miners, and it is still in its infancy. Could these resources be better employed in other industries, and if so, how much productivity growth is BTC leeching from the economy?

The takeaway is that blockchain is an open, real-time database that provides anonymity to its users. It is not controlled or regulated (yet) by any government. BTC miners, driven by the incentive to earn BTC, and fees at times, verify and authenticate the database. Blockchain technology is incredibly powerful and will likely revolutionize data management regardless of whether cryptocurrencies thrive or disappear.

Plenty of people buy and consume plenty of stuff that isn't really useful, no reason to target crypto in particular.

[Last of the V8s]

It is currently receive only because transmitting to the satellite requires a lot of power and extra stuff that most people won't be able to get. The satellite is best for those who have a poor internet connection; they can't download the blockchain because it is too big, but they can still broadcast transactions as those are tiny. The satellite allows those people to also be able to get the blockchain (well part of it, only new blocks right now)

[bitebits]

Tell that to searing who mentions it on every post!! Ha ha.

Probably true. But I mean really 4200 btc. Freaking me out a bit. Thus I'm in
WTF mode a lot lately.

YOu have 4200 fucking btc???

Those BTC must be fucking. How else could they have multiplied to such a number?

 

(Searing was btw talking about the dollar value of a bitcoin. In previous posts he claims to own a not too shabby either 100 little workers.)

[Last of the V8s]

https://segwit2x.github.io/segwit2x-announce.html
meh

[Torque]

It is currently receive only because transmitting to the satellite requires a lot of power and extra stuff that most people won't be able to get.

I think he is underestimating the ingenuity, resolve and the purchasing power of the very early bitcoin adopters.  

I know if I had the proper location and resources, the very first thing I'd be working on is a teleport station build out.

[T.Stuart]

Interesting, whether the price will go down this time before the fact of a good event on August 21   

[jojo69]

It is currently receive only because transmitting to the satellite requires a lot of power and extra stuff that most people won't be able to get.

I think he is underestimating the ingenuity, resolve and the purchasing power of the very early bitcoin adopters.  

I know if I had the proper location and resources, the very first thing I'd be working on is a teleport station build out.

well, their supposed use case seems to be the 3rd world where internet is a problem, obviously any of us here could build an uplink system

[Slow death]

teleport station...

Would be the best invention of all time, I could suggest that they build a prison on Mars and all criminals who commit macabre crimes on earth would be teleported to Mars Prison.


When will we see  $5000? I was already celebrating.

[bitserve]

Another wave of short squeezes and we are there....

[bitserve]

The next $75 are critical. We only need a mere 2% pump.

[Meuh6879]

Would be the best invention of all time, I could suggest that they build a prison on Mars and all criminals who commit macabre crimes on earth would be teleported to Mars Prison.

DooM

https://www.youtube.com/watch?v=LljkKoPs1Gg

[suzanne5223]

[edited out]

Yes, the SegWit will trigger some unexpected software bug but the SegWit will be finally activated in 14days not 8days.  The price of bitcoin is sightly pumping up though.

Suzanne... sounds like you have been spending too much time on r/btc with your seemingly uninformed speculation about the supposed "bugs of segwit" 

Regarding our current status of "slightly pumped up bitcoin", you could be correct that we have to see the extent to which there remains decent buying support for BTC at this level.  I am tentatively thinking that currently there is a pretty decent chance that current ongoing buying support is likely to push us into the $4800 to $6800 territory before it starts to possibly be reasonable that bitcoin is "due for" a 35% to 50% price correction.

Sure, we are all speculating to some degree - however, your unfounded speculation about segwit supposed "bugginess" will likely lead you to conclusions that are much more erroneous than another person who does not suffer from such wishful thinking r/btc delusions.

Theymos speculation that SegWit will be lock in around Aug 10, and again for a couple of weeks after SegWit finally activates around Aug 24. But SegWit was lock in early at Aug 8 which is why I think it will take 2weeks for SegWit to be finally activated
My apologize senior if it seems to you that I was making an unknown speculation about SegWit system.

[jbreher]

The satellite allows those people to also be able to get the Blockstream's approved version of the blockchain (well part of it, only new blocks right now)

FTFA

[Torque]

The satellite allows those people to also be able to get the Blockstream's approved version of the blockchain (well part of it, only new blocks right now)

FTFA

So what? I don't exactly see Ver/Wu/Wright et al building out any satellite capabilities for BCash.

Compete or get left in the dust.

[marcus_of_augustus]

The satellite allows those people to also be able to get the Blockstream's approved version of the blockchain (well part of it, only new blocks right now)

FTFA

... you didn't FTFA anything, you're lying to yourself. All you did was put your curmudgeony, butthurt, propagandistic spin on a comment you didn't like. Maybe you don't understand broadcast satellite networks or you really are just a giant asshole ... any which way, the block chain satellite receivers can trivially download a 'long enough' record of the latest headers from where-ever to verify which chain they are on.

If you haven't got $100 million to spend on supporting this nascent decentralised network with a broadcast satellite network you should just piss off? amirite?

[jojo69]

If you haven't got $100 million to spend on supporting this nascent decentralised network with a broadcast satellite network you should just piss off? amirite?

lul...I see what you did there

[oblox]

Bravo sir.

Personally, I like the idea that I will live longer than the US government will exist. At that point I can cash out into whatever I want to and not have to pay taxes on it.

I don't want luxury or "nice things". I want to live for hundreds of years and travel to new worlds. That will take money.

If you are loaded you can already renounce US citizenship and take another one, ideally in a country which does not tax foreign capital gains.

Yep. When someone have enough money he can do some things. ie: You cash out your first couple of millions, and pay taxes on them. With that money buy a residence in some tax heaven place. Monaco is expensive but a great option if you can afford it. Now you can keep cashing the rest without worries.

Wrong in the US.

[BlindMayorBitcorn]

[BlindMayorBitcorn]