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

[JayJuanGee]

Of course, the world has not yet seen a blockchain that has been battle-tested, that does not reward the maintainers in a native token. So there's that. What's the incentive?

Unless someone solves this problem in the realm of game theory, it is impossible.  This is one of the absolute foundational pillars for the stability of bitcoin the removal of which would create a sort of 2 legged stool.

I'm curious as to how all of this is going to play out in the short-medium term.

Some questions I've been asking myself:
Will there be a mass realization that blockchain without bitcoin is just a slow, shitty database?

Sure the value of the bitcoin blockchain, versus other blockchains, remains the proof of work.  The subject matter seems complicated enough, even for smart people and even for those studying the space for a long time that the disinformation and myths are going to continue for at least a few generations, so it seems... people are not really very rational and smart, and that remains part of the reason why religion is so prevalent, and even very smart peeps, and even scientists will retain some religious compartmentalization in their viewpoints.

How long will this realization take?

There will always be some disinformation, but whether a majority becomes enlightened, that may take a really long time.

When/if this realization takes place, will it fuel Bitcoin's moonshot?

You know, as well as anyone, that BTC remains at less than 1% of world adoption, so we will likely have several boom and bust cycles in terms of BTC price before folks start to have some understandings about what bitcoin is.

Alternatively, will people become disenchanted with "blockchain" altogether, and throw the baby (bitcoin) out with the bathwater?

There could be some disenchantment cycles.  I would not put it past some influential governments to have some level of diversion and disinformation attempts that play out quasi-successfully before they finally give up, which also could take a large number of years to play out.

Will this kill off most alts?

It is likely going to take a while for the alts to die, too.  Alts seem likely to be used by some governments and/or financial institutions as attack vectors towards bitcoin, but they also seem poised for failure because none of them are going to really incorporate giving up control, which would just end up causing them to gravitate towards bitcoin and to be absorbed into bitcoin or some semblance of bitcoin.

[Torque]

Wow. I didn't take you for a fudster.

Well I'm not. And honestly I don't care.

But let me ask you this:

Do you really like using a tech that you have no way of verifying fully if it does what it says it does, but you simply have to trust what the devs tell you it can do?

If the 3 letter agencies have found a way to trace Monero transactions from origin to destination, you'd never know or hear about it, now would you?

[realr0ach]

Is FP really wearing a million dollar watch? If so why? I'm really confused.

Possibly to smuggle his savings out of the South Africa level 5 chimpout:

[Anon136]

Is FP really wearing a million dollar watch? If so why? I'm really confused.

He's using the watch to smuggle his savings out of the South Africa level 5 chimpout:

That... could be true I guess. But wouldn't he just use monero?

Wow. I didn't take you for a fudster.

Well I'm not. And honestly I don't care.

But let me ask you this:

Do you really like using a tech that you have no way of verifying fully if it does what it says it does, but you simply have to trust what the devs tell you it can do?

If the 3 letter orgs have found a way to trace Monero transactions from origin to destination, you'd never know or hear about it, now would you?

It's open source code. You can verify what ever you want. If the cryptography is broken than yea we could have problems. But the cryptography is all older well vetted stuff. And it does follow that as long as the cryptography works than the network is trustworthy and trustless. But yea cryptocurrencies are not savings vehicles anyway. Too experimental, too new, too arbitrary. They are for moving value and speculating. Speculators should know and accept risks like that (the possability of cryptography being broken) and people who are moving money have the risk minimized by not being in the payment vehicle for long.

As far as the three letter agencies knowing. It reminds me of a book I read a while back called The Cryptonomicon, a large part of the book is about a cryptographer that cracked all of the Germans messages in world war 2, and had all of this info about the enemies positions and tactics, but isn't able to use 99% of it to save ally lives because that would give away the fact that the Germans cryptography had been cracked. So he's just sitting here listening knowing that this general needs to do this action with his troops inorder to win this battle, but he cant say anything and has to listen to reports of thousands of soldiers dying that he could have saved. Moral of the story, it's still worth the effort to use something like monero because they might not have cracked it, and even if they have cracked it it's still worth the effort because their unwillingness to give away the fact that they have is a measure of protection.

[jbreher]

Looks like a better "Cryptosteel" for half the price has launched: https://1stminingrig.com/billfodl-review-ultimate-backup-for-your-seed-private-keys/

Points for the 'Billfodl' name.

P.S.: They accept payment via Lightning Network which is also great.

Cool. How many vendors is LN up to?

[jojo69]

It's definitely not a chick magnet.

And by the looks of that guy, he could use a few chick magnets. And maybe a personal trainer?

*ducks*

[bitserve]

Looks like a better "Cryptosteel" for half the price has launched: https://1stminingrig.com/billfodl-review-ultimate-backup-for-your-seed-private-keys/

Points for the 'Billfodl' name.

P.S.: They accept payment via Lightning Network which is also great.

Cool. How many vendors is LN up to?

Only a small handful... as you probably know?

LN is still experimental and it will take some time before reaching some significant adoption rate.

So more points for being an early LN supporter.

[JayJuanGee]

Looks like a better "Cryptosteel" for half the price has launched: https://1stminingrig.com/billfodl-review-ultimate-backup-for-your-seed-private-keys/

Points for the 'Billfodl' name.

P.S.: They accept payment via Lightning Network which is also great.

Cool. How many vendors is LN up to?

Only a small handful... as you probably know?

LN is still experimental and it will take some time before reaching some significant adoption rate.

So more points for being an early LN supporter.

Yep, I have noticed a bit of a trend in the Bcasher shills camp to denigrate Lightning Network as if it had been in full development and a mature product, and the fact of the matter remains that the fucking nutjob bcashers had kind of forced the testing of LN to go live because of their nearly two month long spam attack that was seeming to backfire on them by the expedited launching of Lightning Network on livenet, rather than on test net.  

I think that even the bitcoin devs were a bit pissed off about the lightning network getting tested live when it is was in a more beta level.. yet in the end, a lot of this seems to be playing out really well for bitcoin to be receiving such a powerful product and decent attention and live use cases of such powerful product in a more expedited way, in part based on the fees incentives that were largely caused by the backfiring incentives and effects of the then backfiring of the bcasher fuckjob spamming attacks.

By the way, did I mention that I am not very fond of bcashers use of bcash as a bitcoin attack vector, even though their December 2017 through January 2018 spamming attacks largely seems to had "backfired"?  

[Anon136]

Looks like a better "Cryptosteel" for half the price has launched: https://1stminingrig.com/billfodl-review-ultimate-backup-for-your-seed-private-keys/

Points for the 'Billfodl' name.

P.S.: They accept payment via Lightning Network which is also great.

Cool. How many vendors is LN up to?

Only a small handful... as you probably know?

LN is still experimental and it will take some time before reaching some significant adoption rate.

So more points for being an early LN supporter.

The point to me is not that it be adopted before it's needed, but that it be ready for adoption when it is. Like during the last run up when people were paying 30 dollar transaction fees. LN will be adopted as soon as it is needed.

[nanobtc]

Meet the Urwerk UR-1001 then (~$400,000).

We don't need no steenking watches. Is that a Glen Plaid (Glenurquhart check) pattern on the jacket? That's hard to find now. It's also nifty, tuff and bitchen {insert your own adjective here}.

Zappa also had a short-lived advertising company named Nifty, Tough and Bitchen. Here's an old Hagstrom guitar ad from said company.



EDIT: I can verify, this is legit. Because I'm a musician, and I saw it a magazine (it's gotta be true). A 12-string Hag? Those bent over quickly, not enough truss rod.

[junckmonkey]

Meet the Urwerk UR-1001 then (~$400,000).

https://deployant.com/wp-content/uploads/2015/04/1001-case-wrist.jpg

We don't need no steenking watches. Is that a Glen Plaid (Glenurquhart check) pattern on the jacket? That's hard to find now. It's also nifty, tuff and bitchen {insert your own adjective here}.

Zappa also had a short-lived advertising company named Nifty, Tough and Bitchen. Here's an old Hagstrom guitar ad from said company.

http://www.vintageguitarandbass.com/graphics/hagstromfrankzappaH12.jpg

EDIT: I can verify, this is legit. Because I'm a musician, and I saw it a magazine (it's gotta be true). A 12-string Hag? Those bent over quickly, not enough truss rod.

how shall i say, wham-bam-thank-you-maam

[nanobtc]

how shall i say, wham-bam-thank-you-maam

Like David Bowie/Suffragette City.

But seriously folks.

Don't feed the trolls. Don't quote, nor respond.

My take on BTC? I have no take. If you cannot trade, don't. Dollar cost averaging? Buy a little on a regular basis.

I appreciate the accumulated wisdom here. Often.

[junckmonkey]

how shall i say, wham-bam-thank-you-maam

Like David Bowie/Suffragette City.

But seriously folks.

Don't feed the trolls. Don't quote, nor respond.

My take on BTC? I have no take. If you cannot trade, don't. Dollar cost averaging? Buy a little on a regular basis.

I appreciate the accumulated wisdom here. Often.

Wait....you have no take?

[junckmonkey]

my chartz saying going up

[nanobtc]

my chartz saying going up

Sorry, I have poor Engrish. I meant 'I have no chartz'.

[Elwar]

my chartz saying going up

Agreed, my WO bcash reference meter is showing that a big push upwards is about to occur.

[junckmonkey]

cmon .99999 bcrew kick it in.....

[nanobtc]

cmon .99999 bcrew kick it in.....

@Theymos please bring back newbie jail.

junckmonkey: sorry, you may have the wrong forum/channel/chatroom/ICQ/IRC/Instagram/Teams/Slack/blah/blah.

 

/ignored.

[cAPSLOCK]

cmon .99999 bcrew kick it in.....

lET'S BUY FLUFFY A NEW WATCH!

[junckmonkey]

don't you dare send it to fluffy CAPS, i want that wartch and you no it. hehe