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

[realr0ach]

Bitcoin and other cryptocurrencies also potentially replace gold as an international asset of last resort

https://www.forbes.com/sites/investor/2018/06/18/no-bitcoin-wont-use-up-all-the-worlds-energy/

Bullshit statement.  Gold and silver are NOT "money of last resort".  Physical commodity currency is the only real money that exists.  It just so happens scams that do not represent any type of real world goods or wealth such as fiat and bitcoin have seemingly positive traits like less friction (i.e. the ability to transfer imaginary 0's and 1's around faster).  But you're not actually sending any type of wealth, it's just a meaningless ledger that says:  I have 999 units of imaginary, valueless garbage in my account and you have 0 units, so you are now my slave and must do my bidding.

Except your imaginary digital units have no valid Schelling point because it's based on artificial scarcity and anyone can create a new shitcoin to bypass you.  So no, nobody is ever going to be your slave while using fake money based on artificial scarcity unless you can also enforce that zero sum game slavery ledger with violence on top of it.  

The only way you're going to enslave anyone by having more arbitrary chits in your account than them without using violence to prevent them from bypassing your ledger is by using a real world good with intrinsic value that people actually need and they cannot bypass. You know, like hoarding all the physical silver as hostage and forcing them to pay ransom to get it.

[1713951416]

1713951416

[Last of the V8s]

Tried to install LN node on my server but I have to run a full node. My server only has 200 Gb.

Is there a preferred way among people without home servers?

While I understand your frustration, 10TiB costs about 0.02 BTC in today's marketplace.

Yes, I may need to go and search again.

What I tend to find is the cheap, high capacity sites don't allow me to do hardly anything on their server except run their Cpanel type of apps. Instead of install my own version of Linux, ssh in and set up my own access controls.

Though I've been using this server for 5 years so ya...likely due for an upgrade.


Would love to hear about some of these cheap, large hard drive VPSs out there though if someone wants to share.

http://pizarroisp.net/

edit oh hey there's even a thread right here: https://bitcointalk.org/index.php?topic=4453723.msg39844787#msg39844787

[shahzadafzal]

Bitcoin and other cryptocurrencies also potentially replace gold as an international asset of last resort

https://www.forbes.com/sites/investor/2018/06/18/no-bitcoin-wont-use-up-all-the-worlds-energy/

Bullshit statement.  Gold and silver are NOT "money of last resort".  Physical commodity currency is the only real money that exists.  It just so happens scams that do not represent any type of real world goods or wealth such as fiat and bitcoin have seemingly positive traits like less friction (i.e. the ability to transfer imaginary 0's and 1's around faster).  But you're not actually sending any type of wealth, it's just a meaningless ledger that says:  I have 999 units of imaginary, valueless garbage in my account and you have 0 units, so you are now my slave and must do my bidding.

Except your imaginary digital units have no valid Schelling point because it's based on artificial scarcity and anyone can create a new shitcoin to bypass you.  So no, nobody is ever going to be your slave while using fake money based on artificial scarcity unless you can also enforce that zero sum game slavery ledger with violence on top of it. 

The only way you're going to enslave anyone by having more arbitrary chits in your account than them without using violence to prevent them from bypassing your ledger is by using a real world good with intrinsic value that people actually need and they cannot bypass. You know, like hoarding all the physical silver as hostage and forcing them to pay ransom to get it.

Did you understand the statement "international asset"?
What you think what is "a real world good with intrinsic value"?
BTW why would you enslave anyone?

[shahzadafzal]

Another reason why we need bitcoin!

Rats chew up ₹12,000,000 (USD 17,614) in cash at an ATM in Assam India

https://i.imgur.com/JehL48nl.jpg

[Kylapoiss]

https://99bitcoins.com/bitcoinobituaries/

So it has died 315 times now.

And the next 24h are critical.

[realr0ach]

Bitcoin and other cryptocurrencies also potentially replace gold as an international asset of last resort

https://www.forbes.com/sites/investor/2018/06/18/no-bitcoin-wont-use-up-all-the-worlds-energy/

Bullshit statement.  Gold and silver are NOT "money of last resort".  Physical commodity currency is the only real money that exists.  It just so happens scams that do not represent any type of real world goods or wealth such as fiat and bitcoin have seemingly positive traits like less friction (i.e. the ability to transfer imaginary 0's and 1's around faster).  But you're not actually sending any type of wealth, it's just a meaningless ledger that says:  I have 999 units of imaginary, valueless garbage in my account and you have 0 units, so you are now my slave and must do my bidding.

Except your imaginary digital units have no valid Schelling point because it's based on artificial scarcity and anyone can create a new shitcoin to bypass you.  So no, nobody is ever going to be your slave while using fake money based on artificial scarcity unless you can also enforce that zero sum game slavery ledger with violence on top of it.  

The only way you're going to enslave anyone by having more arbitrary chits in your account than them without using violence to prevent them from bypassing your ledger is by using a real world good with intrinsic value that people actually need and they cannot bypass. You know, like hoarding all the physical silver as hostage and forcing them to pay ransom to get it.

Did you understand the statement "international asset"?
What you think what is "a real world good with intrinsic value"?
BTW why would you enslave anyone?

You don't seem to get it do you?  Money is a zero sum game of enslavement.  All forms of money are ledgers where the haves enslave the have-nots.  I explained it thoroughly in my post.  The only difference is that some forms of these ledgers like fiat require violence to force people to use them or it falls apart because...people refuse to use it.  

Bitcoin has the same problem.  If you have 20.9 million shitcoins and I only own 1 shitcoin, I'm definitely not going to volunteer to be your slave because you have more imaginary, valueless tokens than me (which is why you constantly see people boycotting things like Darkcoin and it's masternode owners).  I would simply bypass your system and refuse to use it, either by making my own shitcoin or just using something else.  The only way you could stop me is violence.  

This is why any system of money based on artificial scarcity is garbage.  They're all easily bypassed without a monopoly of violence forcing people to use them.  If I hoard all the physical silver in the world, you cannot simply bypass me, and me having 999 units of silver and you having 0 units actually does make you my slave (unless you plan to go back to hunter gatherer civilization).  As you may have guessed by now, it's easier to enslave other people using silver than gold because gold has far less intrinsic value/use case.  The bankers are currently playing the wrong side of the fundamentals game there, which will inevitably revert with silver importance drastically increasing compared to gold.

[Rsiyz]

" J.P. Morgan Chase & Co. ... Along with Wells Fargo, Citigroup, and Bank of America, J.P. Morgan Chase received $25 billion on October 28, 2008 as one of four of the original nine U.S. banks to receive money from the Treasury under its Capital Purchase Program. "

And as to why we need banks, what is going on is they DO provide some benefit to Society. But banks take for themselves, and they will push harder and harder until generally most people are neutral either way to the existence of private banks like these.

What they do is - as long as there are profits, that goes to shareholders or owners. But if there are losses - then that becomes a bailout covered by taxpayers or by haircuts or bail-ins which are slightly better (but still abusive if they are done like they were in Cyprus)

Bitcoin exists because of their abuse of the system.

Further, if they manipulate this benchmark, it's because they can adjust the perception of market players about the value of dollars now and into the future. They can do that manipulation because they are so central and because the supply of dollars is so fuzzy and controlled by the Federal Reserve (another quasi-government entity).

[Totscha]

https://99bitcoins.com/bitcoinobituaries/

So it has died 315 times now.

And the next 24h are critical.

We'll see in two weeks^TM

[mymenace]

Bitcoin


Starting from mined precious metals

Metals to produce valuable technology

Technology to utilize energy and peer to peer networks

Networks layered with mathematics to decentralize and share information

Information across vast distances and industry

Bringing real currency - Bitcoin, to the world




Keep your dollar

[Rsiyz]

baad baad usa ...     cancer

When videos that get over a million views only pay out two or three hundred dollars to their creators, it's no wonder that a nonprofit community software effort wouldn't even bother with monetization. With zealous and lazy censorship, DMCA abuse, a complete lack of communication, and a failure to even provide fair and basic remuneration, the world needs an alternative to YouTube quick. But the network effects make creating one rather difficult.

https://www.blender.org/media-exposure/youtube-blocks-blender-videos-worldwide/

https://np.reddit.com/r/linux/comments/8s8ec1/youtube_blocks_blender_videos_worldwide/?sort=new

[Torque]

OT: Well well well, sabotage is the name of high stakes Wall Street game.

https://www.cnbc.com/2018/06/18/elon-musk-email-employee-conducted-extensive-and-damaging-sabotage.html

Reminds me of the Chipotle story. From 2012-2015 the company's stock was flying high on a massive bull run for years with nothing but MSM praise and great earnings. Then in 2015 when the stock peaked and started to roll over, suddenly out of nowhere they mysteriously had an E. Coli outbreak in supposedly 14 states, causing the stock to plummet. It has never recovered since.

http://www.businessinsider.com/chipotle-e-coli-conspiracy-theory-2015-12

Mmmm hmmm... how convenient for the short sellers...    

[Torque]

Another reason why we need bitcoin!

Rats chew up ₹12,000,000 (USD 17,614) in cash at an ATM in Assam India

No worries, they'll just print moar.

[El duderino_]

[El duderino_]

So is this recent dump a response to the Bithumb hack or is it just coincidence? 30 million USD worth of coins certainly is small compared to the whoppers that we have had in the past.

Indeed.. 30 millions is nothing... 

you can always deposit them on my bank account .... 

[mymenace]

baad baad usa ...    cancer

When videos that get over a million views only pay out two or three hundred dollars to their creators, it's no wonder that a nonprofit community software effort wouldn't even bother with monetization. With zealous and lazy censorship, DMCA abuse, a complete lack of communication, and a failure to even provide fair and basic remuneration, the world needs an alternative to YouTube quick. But the network effects make creating one rather difficult.

https://www.blender.org/media-exposure/youtube-blocks-blender-videos-worldwide/

https://np.reddit.com/r/linux/comments/8s8ec1/youtube_blocks_blender_videos_worldwide/?sort=new

k.im




really waiting for this, booom...

[Last of the V8s]

Non-mining nodes count for nothing

/s

[d_eddie]

Non-mining nodes count for nothing
/s

That's the underlying assumption for bcashers and other big blocker nutjobs(TM).

Someone could tell them to "get the fuck out of here with...(TM)"

Oops, someone told them already!  

[d_eddie]

I’ll pop back during the next bull run.

Hope to see you soon then! 

Maybe you’ve all stopped bitch slapping each other by then.

Don't count on it. Slapping, trolling and flaming is an integral part of WO reality. Filtering helps.

[Dabs]

Would love to hear about some of these cheap, large hard drive VPSs out there though if someone wants to share.

Not cheap, but OVH let's you add up to 500 GB of space? Get their cheapest VPS for under $5 a month then add $0.06/month/GB.

I haven't tried it yet though, someone else would have to chime in.

[Torque]

More Bcash double spendings  

https://doublespend.cash/

jbreher the BCash lover wants to go on and on about how Bitcoin fungibility is somehow "compromised" with SegWit.

But on this BCash compromise (ie. complete failure)? Dead silence. Crickets.