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

[sirazimuth]

But these heads man really like them

don't forget this head....

[1715156585]

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[1715156585]

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[1715156585]

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[Torque]

Sometimes I like to wear a fancy newsboy head when I go out.... but mostly just wear a ball head.

[abercrombie]

CNBC's explanation for the bounce   

https://www.cnbc.com/2018/07/16/bitcoin-jumps-after-report-says-blackrock-exploring-cryptocurrencies.html

[sirazimuth]

Sometimes I like to wear a fancy newsboy head when I go out.... but mostly just wear a ball head.

Jtbc...I don't use this particular h.a.t (hair alternative treatment)
I wore it for like 5 minutes and my wife thankfully
clued me in to the fact that I looked like a dork tard.
Bedroom lampshade....

[jbreher]

Dear Jbear

Please cite from the White Paper.  

Haha! Fine. Let's play.

Dear HML - please cite the white paper with evidence for your assertions that:
1) "the miners were never intended on being a separate group from the users"
2) "Satoshi didn’t foresee ASICs"

Hint:  you can’t, because it’s not there other than a reference to SPVs

Hint:  you can’t, because it’s not there. Period.

As for 1), the material on SPV is normative proof that Satoshi was intending to enable non-mining users.
As for 2), if you can't derive from the white paper that units that are 'better' at hashing will be 'more successful' at mining, I don't know what to say.

In any event, it’s moot because we are where we are with miners holding significant power.  

As per design.

[jojo69]

Dear Jbear

Please cite from the White Paper.  

god you guys

please don't

[Rosewater Foundation]

Dear Jbear

Please cite from the White Paper.  

god you guys

please don't

Playing pin the tail on the Satoshi should be restricted to birthday parties. 

[Rosewater Foundation]

Why Schnorr signatures will help solve 2 of Bitcoin’s biggest problems today

[strawbs]

CNBC's explanation for the bounce   

https://www.cnbc.com/2018/07/16/bitcoin-jumps-after-report-says-blackrock-exploring-cryptocurrencies.html

"The price of bitcoin surged Monday after a report said that BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market.....The world’s most valuable virtual currency by market value jumped more than 4 percent."

Someone needs to tell CNBC that 4% is not a surge in bitcoinland, but a common daily fluctuation.

[jojo69]

the whole thing just makes me schnorr

[El duderino_]

Sometimes I like to wear a fancy newsboy head when I go out.... but mostly just wear a ball head.

Jtbc...I don't use this particular h.a.t (hair alternative treatment)
I wore it for like 5 minutes and my wife thankfully
clued me in to the fact that I looked like a dork tard.
Bedroom lampshade....

Haha Nice i have very much heads but almost never Where them ...... maybe now the bull and bear head ....
I actually don’t have any BTC clothing except a BTC christmas sweater for the dinner @my girlfriends family house
 

[jbreher]

Looking forward to some quality Schnorr FUD from Jbear and crew. 

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

[bitserve]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

P.S.: Here it is: https://bitcointalk.org/index.php?topic=178336.msg22571868#msg22571868

[jbreher]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

Hmm. I guess you know more about my past postings than do I. Link?

Schnorr can obviously reduce the size of txs that have multiple elements. I wouldn't say that is 'nothing'. If this be shown to be a reversal of a previously held opinion, then so be it.

Of course, my final opinion would be driven by an analysis of not merely the benefits of Schnorr, but also its costs.

edit: Oh - I see you've added the link. Thank you. I shall quote:

Currently it would take over 30 years to send each person on earth a single Bitcoin transaction. Think about that.

Lightning does nothing to alleviate that.
Segwit does nothing to alleviate that.
Schnorr sigs does nothing to alleviate that.

True enough. If you wish to send every person on earth a single Bitcoin tx (e.g., perhaps to open an LN channel), it will take on the order of three decades. And Schnorr indeed does nothing to alleviate that. It is a true statement, and it is not identical to "Schnorr signatures would do nothing to alleviate the scaling issue".

Your assertion is shown to be false.

[Wekkel]

25-30% efficiency improvement from Schnorr is not 'nothing', but also not earth shaking.

[yefi]

Looking good Bitcoin, looking good

[bitserve]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

Hmm. I guess you know more about my past postings than do I. Link?

Schnorr can obviously reduce the size of txs that have multiple elements. I wouldn't say that is 'nothing'. If this be shown to be a reversal of a previously held opinion, then so be it.

Of course, my final opinion would be driven by an analysis of not merely the benefits of Schnorr, but also its costs.

edit: Oh - I see you've added the link. Thank you. I shall quote:

Currently it would take over 30 years to send each person on earth a single Bitcoin transaction. Think about that.

Lightning does nothing to alleviate that.
Segwit does nothing to alleviate that.
Schnorr sigs does nothing to alleviate that.

True enough. If you wish to send every person on earth a single Bitcoin tx (e.g., perhaps to open an LN channel), it will take on the order of three decades. And Schnorr indeed does nothing to alleviate that. It is a true statement, and it is not identical to "Schnorr signatures would do nothing to alleviate the scaling issue".

Your assertion is shown to be false.

After re-reading your post I stand corrected on my interpretation and agree you were referring to a very extreme theoretical scenario where all the block space is used exclusively for opening channels for every person on earth.

I am glad to hear you agree that Schnorr signatures could have some impact on scaling improvement depending on circumstances.

[jbreher]

I believe Satoshi died with Dave and Hal.

Dave? Hal? WTF!?

[DaRude]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

Hmm. I guess you know more about my past postings than do I. Link?

Schnorr can obviously reduce the size of txs that have multiple elements. I wouldn't say that is 'nothing'. If this be shown to be a reversal of a previously held opinion, then so be it.

Of course, my final opinion would be driven by an analysis of not merely the benefits of Schnorr, but also its costs.

edit: Oh - I see you've added the link. Thank you. I shall quote:

Currently it would take over 30 years to send each person on earth a single Bitcoin transaction. Think about that.

Lightning does nothing to alleviate that.
Segwit does nothing to alleviate that.
Schnorr sigs does nothing to alleviate that.

True enough. If you wish to send every person on earth a single Bitcoin tx (e.g., perhaps to open an LN channel), it will take on the order of three decades. And Schnorr indeed does nothing to alleviate that. It is a true statement, and it is not identical to "Schnorr signatures would do nothing to alleviate the scaling issue".

Your assertion is shown to be false.

And if that each person wanted to make just 32 transactions to different people bcash would need 30yrs to process that. Think about that!

[Arching_wild]