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

[jonoiv]

I've often wondered what the hodlers use to purchase these luxury cars?  If you're hodlin, wouldn't you still be driving a 1998 Ford Crown Vic P71?!  I must be doing it wrong.  Perhaps they are leveraging their ruggedly-handsome, good looks?

I just bought a Renault Twingo for less than 1 BTC. 2012...newest car I've ever owned.

If  Insufficiently endowed bitcoiners buy lamborghinis, that means you're this guy!

[1714953020]

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[lightfoot]

Nicer doors than mine and must be a V12 lol.

V10 lambo doors open outwards, V12 Lambo doors open up.

Hm. The Hurrican I was testing out had the doors opening outwards, but checking I see it is merely a V10. No wonder it was such a slug on the track.....

Thanks for the bit of knowledge. Diablo or bust for me I guess.

[Elwar]

I agree with the capitulation thing. The last down cycle we sat near $200-$300 for nearly a year. I figure that shook out a lot of people from 2013 that were just waiting for it to "go back up so they could sell.

I held all the way through 2010 to 2012 only to cave at the end of 2012 as it was starting to come back up. As a n00b those were some tough times. But I believed in Bitcoin. Most people who got in last year are about as Bitcoin savvy as the people in Vegas at the Evolve conference.

[mymenace]

I agree with the capitulation thing. The last down cycle we sat near $200-$300 for nearly a year. I figure that shook out a lot of people from 2013 that were just waiting for it to "go back up so they could sell.

I held all the way through 2010 to 2012 only to cave at the end of 2012 as it was starting to come back up. As a n00b those were some tough times. But I believed in Bitcoin. Most people who got in last year are about as Bitcoin savvy as the people in Vegas at the Evolve conference.

I got in 2012
Watched how to diversify
Watched each exchange go down
Watched every trollfest
Watched all the laughing

Now I have something else I need to protect and those coins are required

[markj113]

Hm. The Hurrican I was testing out had the doors opening outwards, but checking I see it is merely a V10. No wonder it was such a slug on the track.....

Thanks for the bit of knowledge. Diablo or bust for me I guess.

The huracan does 0-60 between 2.8 to 3.3 seconds depending on model, not exactly slow.  The performante is a track monster.  

Did you have it Corsa mode or did they put it in soft auto Strada mode?

Any huracan would kill a diablo around a track, Aventador is the current flagship V12 after the murcielago (not taking into account the specials like the centenario)

[Majormax]

I agree with the capitulation thing. The last down cycle we sat near $200-$300 for nearly a year. I figure that shook out a lot of people from 2013 that were just waiting for it to "go back up so they could sell.

I held all the way through 2010 to 2012 only to cave at the end of 2012 as it was starting to come back up. As a n00b those were some tough times. But I believed in Bitcoin. Most people who got in last year are about as Bitcoin savvy as the people in Vegas at the Evolve conference.

Same as a lot of ppl, maybe you were afraid of losing the bit that was left.

That was a valuable lesson. Vastly more ppl will learn that lesson in the coming year IMO. When only the die hards are left (they don't care how low the price goes) then the new uptrend can slowly begin.

BTC going to $2k ?  doesn't matter.  $1k ? feel the same. It's just a number, and the price will go wherever it needs to go.

[HairyMaclairy]

There have been a distinct lack of “Bitcoin is dead” headlines in the newspapers.   Maybe I am missing them but I am not seeing them.

On Monero, ironically I have been called a Monero shill in this thread if you go back far enough.  I think it is the second best crypto currency now that it is becoming apparent that Vitalik has lost his way.  He is becoming increasingly desperate to solve the scaling problem he has created, which was entirely predictable and was in fact predicted.   Exhibit one is his claim of a consensus mechanism that only requires 1% of nodes to be honest:   https://www.trustnodes.com/2018/08/10/vitalik-buterin-proposes-consensus-algorithm-requires-1-honest

However we need to be wary of anyone that claims to be fixing Bitcoin’s mistakes. Bitcoin is a finely balanced construct and if you take away any of the qualities, you disrupt the balance.

I think Monero’s tail emissions were a major error in judgement.  Yes I know they are only 0.6 XMR per block but they are permanent inflation.  Yes I know they are supposed to be fixing “Bitcoin’s mistake” by providing long term income for miners. But by doing so, Monero forgot one of the tenets of a ‘store of value’.  Which is you don’t allow your store of value to be continually chipped away at by inflation.  We should be extremely wary of anyone claiming to fix Bitcoin’s mistakes.

*Vitalik claimed he was fixing Bitcoin’s mistakes by enabling a Turing complete blockchain.
*Roger Ver claimed he was fixing Bitcoin’s mistakes by increasing the block size.  
*Accenture says that Bitcoin’s mistake was an immutable record:  https://www.nytimes.com/2016/09/10/business/dealbook/downside-of-virtual-currencies-a-ledger-that-cant-be-corrected.html

So I think Monero is great.  It is the cryptocurrency “most likely to succeed” in the event that Bitcoin fails, particularly if that failure mode is a global government ban.  But Monero proponents would do well not to claim they have fixed Bitcoin’s problems, because there isn’t a good track record for people who have claimed that.

[lightfoot]

The huracan does 0-60 between 2.8 to 3.3 seconds depending on model, not exactly slow.  The performante is a track monster.  

Did you have it Corsa mode or did they put it in soft auto Strada mode?

Any huracan would kill a diablo around a track, Aventador is the current flagship V12 after the murcielago (not taking into account the specials like the centenario)

Hm. To be honest I had it in automatic mode, because I was not going to figure out the paddles on the first go-around. And I'm guessing they run it in pussycat mode, so there may have been that. I like the shape and design of the Diablo but yes it's 90's tech.

Guess I need to test drive more of them. Assuming bitcoin goes up sometime soon...

Drat drat drat :-)

[infofront]

Two nonsense points.

First there is plenty of reasons to hate on Roger, and second, who gives a ratt's ass about Monero.  this is a bitcoin thread. 

That's bullshit.

There is no need to diversify into shit coins.  Of course, there may be other reasons to diversify, but why buy pump and dump paper tigers?

Where is the real Jay, and what have you done with him?

[Elwar]

Dear Friend!

<shitcoin> team invites you to participate in our bounty campaign with 800 000 EUR reward and help our project to create a large and strong community.

We were pleasantly surprised by quality of your posts and would like to offer you an excellent opportunity to join the <shitcoin> project and get a reward for it. All you need to do is post a positive and informative publication / review or create a video about <shitcoin>, and we will definitely reward you!

I had to laugh at this mail I got on reddit. Quality of my posts?  I wear the shittyness of my posts with a badge of honor.

[HairyMaclairy]

Elwar, obviously people think you are respectable.

[HairyMaclairy]

Bitconnect delisted from last exchange TradeSatoshi:  https://www.ccn.com/dead-coin-walking-bitconnect-set-to-be-delisted-from-last-crypto-exchange/amp/

[El duderino_]

just crazy that is was here for so long

however i look to the CARLOS MATOS speech sometimes cause it really makes me smile ..... how he talks how he walks , what a guy ....   

[Gyrsur]

guys, could Leslie L. be Satoshi Nakamoto?

there is a link from a post of Satoshi via Vitalik Buterin to him.

he worked from 2001 to 2014 for Microsoft Research which could explain his preference for Windows developement of the first clients.

EDIT: OH MY GOSH, Vitalik Buterin accidental revealed Satoshi Nakamoto!

https://www.trustnodes.com/2018/08/10/vitalik-buterin-proposes-consensus-algorithm-requires-1-honest

https://twitter.com/VitalikButerin/status/1027972126593015809

I believe it'll be possible for a payment processing company to provide as a service the rapid distribution of transactions with good-enough checking in something like 10 seconds or less.

The network nodes only accept the first version of a transaction they receive to incorporate into the block they're trying to generate.  When you broadcast a transaction, if someone else broadcasts a double-spend at the same time, it's a race to propagate to the most nodes first.  If one has a slight head start, it'll geometrically spread through the network faster and get most of the nodes.

A rough back-of-the-envelope example:
1         0
4         1
16        4
64        16
80%      20%

So if a double-spend has to wait even a second, it has a huge disadvantage.

The payment processor has connections with many nodes.  When it gets a transaction, it blasts it out, and at the same time monitors the network for double-spends.  If it receives a double-spend on any of its many listening nodes, then it alerts that the transaction is bad.  A double-spent transaction wouldn't get very far without one of the listeners hearing it.  The double-spender would have to wait until the listening phase is over, but by then, the payment processor's broadcast has reached most nodes, or is so far ahead in propagating that the double-spender has no hope of grabbing a significant percentage of the remaining nodes.

[El duderino_]

Only 4 days left on the poll...... they are always difficult to win for me ........
Just had a very very good day with a Nice sober up from a wedding party that was actually good i was surrounded by all people with NON btc , but there was only 1 very short talk with a Guy i have seen somewhere around christmas and he Just said iT surprises me that iT still exsists , he said its virtual money do you understand iT .... virtual like you cannot keep iT in youre hands .... i Just said i keep them on something like USB sticks and stopt the talking cause really wasn’t in the mood ..... Just wanted to drink cocktails and eat things  
So after a long long wedding i was very very pleasured today with Some No premier league games and ready player one movie again for having a good chill after a really Hangover weekend time
now please all the MAXIMUM BULL  ta and straight up Going green lines for a good and well earned sleep
Don’t let me get bogged tonight  

[El duderino_]

51.1 dominance 

[Elwar]

guys, could Leslie L. be Satoshi Nakamoto?

there is a link from a post of Satoshi via Vitalik Buterin to him.

he worked from 2001 to 2014 for Microsoft Research which could explain his preference for Windows developement of the first clients.

EDIT: OH MY GOSH, Vitalik Buterin accidental revealed Satoshi Nakamoto!

https://www.trustnodes.com/2018/08/10/vitalik-buterin-proposes-consensus-algorithm-requires-1-honest

https://twitter.com/VitalikButerin/status/1027972126593015809

I believe it'll be possible for a payment processing company to provide as a service the rapid distribution of transactions with good-enough checking in something like 10 seconds or less.

The network nodes only accept the first version of a transaction they receive to incorporate into the block they're trying to generate.  When you broadcast a transaction, if someone else broadcasts a double-spend at the same time, it's a race to propagate to the most nodes first.  If one has a slight head start, it'll geometrically spread through the network faster and get most of the nodes.

A rough back-of-the-envelope example:
1         0
4         1
16        4
64        16
80%      20%

So if a double-spend has to wait even a second, it has a huge disadvantage.

The payment processor has connections with many nodes.  When it gets a transaction, it blasts it out, and at the same time monitors the network for double-spends.  If it receives a double-spend on any of its many listening nodes, then it alerts that the transaction is bad.  A double-spent transaction wouldn't get very far without one of the listeners hearing it.  The double-spender would have to wait until the listening phase is over, but by then, the payment processor's broadcast has reached most nodes, or is so far ahead in propagating that the double-spender has no hope of grabbing a significant percentage of the remaining nodes.

Vitalik quoting Satoshi who expanded upon Leslie L?

[Elwar]

Elwar, obviously people think you are respectable.

Respectable enough to be among the elite who are asked to shill shitcoins.

Probably only a handful of people hold that distinct status.

[Gyrsur]

Vitalik quoting Satoshi who expanded upon Leslie L?

Vitalik was quoted by trustnodes.com with a solution but later had emended via twitter the idea was from Leslie L.

in the same article trustnodes.com linked to a post of Satoshi where he explains the idea.

same idea with two paths from Vitalik to Leslie L and Satoshi. interesting IMO.

the idea is about to improve the fault tolerance of a consensus algorithm to more than 50 percent (keyword: 51% attack).

If you add even more assumptions (specifically, you require observers to also be actively watching the consensus, and not just downloading its output after the fact), you can increase fault tolerance all the way to 99%.

EDIT: new topic --> https://bitcointalk.org/index.php?topic=4883276

[BTCMILLIONAIRE]

The thing with certifications is that they give you a false sense of accomplishment and closure, even though most of them are trash and only require a bare minimum understanding and aptitude. Otherwise the broad masses would start complaining that it's too hard for them to get anywhere in life whilst not putting in the required effort. Not necessarily a government problem in that regard, although I'm not going to even try to speak positively about it (gov).

My best friend went through the whole thing to become a financial adviser. He convinced me that whole life insurance was a good investment.

It wasn't until I was trying to defend it in an online forum using math that I realized how horrible it was.

It is a good investment... for the insurance firm.