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

[gembitz]

Good morning Bitcoinland.

Not much to say. Sideways is sideways... currently $6457USD/$8442CAD (Bitcoinaverage).

Oh, the dog days of August. Kinda reminds me of Aug 2013 or Aug 2015.

 

sup dude

[Last of the V8s]

@MarkFriedenbach https://twitter.com/MarkFriedenbach/status/1030211193544134658
I will be giving a talk at #ScalingBitcoin on how a block size increase up to 3600x the present size and a change of proof-of-work can be achieved with a fully backwards compatible soft-fork—old clients see all transactions and valid SHA256 block headers.

This is not good news if onchain.  I hope this is a sidechain solution.

On-Chain Scaling
Forward Blocks: On-chain/Settlement Capacity Increases Without the Hard-fork
PRESENTER(s):
Mark Friedenbach
Playing With Fire: Adjusting Bitcoin's Block Subsidy
PRESENTER(s):
Anthony Towns (Xapo)
Self-Reproducing Coins as Universal Turing Machine
PRESENTER(s):
Dmitry Meshkov, Alexander Chepurnoy and Vasily Kharin (Ergo Platform)

https://tokyo2018.scalingbitcoin.org/

That conference is getting more and more mixed in quality. Remember that time they let Peter 'people are trying to avoid a chain split' Rizun in?

[JayJuanGee]

Looks like Peter R has better things than to come here and extol the virtues of Bcash lol.  

Yeah, Craig, the asshole, has an ability to make anyone look reasonable, even PeterR...   

[jbreher]

@MarkFriedenbach https://twitter.com/MarkFriedenbach/status/1030211193544134658
I will be giving a talk at #ScalingBitcoin on how a block size increase up to 3600x the present size and a change of proof-of-work can be achieved with a fully backwards compatible soft-fork—old clients see all transactions and valid SHA256 block headers.

This is not good news if onchain.  I hope this is a sidechain solution.

Copied from another post (https://bitcointalk.org/index.php?topic=2040221.msg44413482#msg44413482):

Sounds interesting, but I don't see how this translates as a threat to BCH.

Core has already shown an incredible irrational resistance to scaling on-chain. The ugly hack of adopting SegWit as a so-called 'soft fork' has proven to have been the mechanism by which new security vulnerabilities have been introduced to BTC - will this 'soft fork' be any different? Lastly, experience with other chains has already conclusively demonstrated the folly of jettisoning $Billions of USD worth of dedicated security appliances.

While the capacity increase is attractive, this looks to be facing at least a trifecta of real implementation problems.

I must admit that as far as technical details, I am quivering with antici...
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...pation.

[JayJuanGee]

And I know some of you are big fans of anonymint but he is a fucking cultist just like Craig and Roger. Maybe a little smarter than them but he is still a cultist.

i dont think so. if one can prove his data or analysis is wrong, he will admit his mistake. it has happened. thats not the mark of a cultist. cultists ignore facts.

it may seem hes inflexible but thats only because his logic, understanding of the subjects and research is very very good.

the mark of a true scientist is to go with the best theory that fits the facts as they are known. when something happens that invalidates that, the scientist will scrap that theory and search for a new one. thats shelby.

even his detractors generally admit he is very very smart. thats puts us average guys (like me specifically not mentioning any names here) at a distinct disadvantage. i would need to dedicate years to understand just some his theories, and even then i probably lack the brainpower to fully grok it.

You are whitewashing anunymint/shelby to be more than what he is.

He engages in convoluted distractions including frequently attempting to suggest that there were some kind of burden on others to prove him to be wrong rather than him having both the burden of production of evidence and persuasion about the relevance and strength of that evidence, and further if he were such a supposed genius, he would present his ideas and refrain from ad hominem bullshit....

[Anon136]

{hate speech} as per usual.

SPEECHLESS .. SOBs..!!!!! and that was back on August 4th.. !!!!!!!!!!!! WOW   ... Again, Speechless...

Quoting the roaches racists shit is a "ignorable" offense, FYI.

Using the left's weaponized language isn't much better.

[jbreher]

He engages in convoluted distractions including frequently attempting to suggest that there were some kind of burden on others to prove him to be wrong rather than him having both the burden of production of evidence and persuasion about the relevance and strength of that evidence, and further if he were such a supposed genius, he would present his ideas and refrain from ad hominem bullshit....

You are delusional, JJG. In your discussions with Shelby, he provided sound reasoning based upon solid evidence supported by links documenting the evidence. But rather than admit that you were too fuckin' lazy to read the supporting evidence, and apply your brain to follow the arguments, you merely dissembled saying the evidence was not presented. Pointing out that you refused to attempt to follow the argument is not an ad hominem attack.

[DaRude]

{hate speech} as per usual.

SPEECHLESS .. SOBs..!!!!! and that was back on August 4th.. !!!!!!!!!!!! WOW   ... Again, Speechless...

Quoting the roaches racists shit is a "ignorable" offense, FYI.

Using the lefts weaponized language isn't much better.

Only i'm pretty sure it is exponentially better.

[HairyMaclairy]

Thanks Jbear.  I must admit with all the BCH forks flying around I am losing track of which BCH is supposed to be the real BCH.  Is it the Peter R or Alex F version or someone else’s?

[JayJuanGee]

Looks like symmetric triangle, logic would be that since we come from a downtrend the trend should continue in this direction   Hoping to be wrong.

We come from an uptrend too, and it just depends on what time frame you are looking at.    Hoping NOT to be wrong.  

[JayJuanGee]

Good morning Bitcoinland.

Not much to say. Sideways is sideways... currently $6457USD/$8442CAD (Bitcoinaverage).

Oh, the dog days of August. Kinda reminds me of Aug 2013 or Aug 2015.

you forgot about August 2014? and August 2016?  Aren't we in a even year pattern?


Don't get me wrong. ... I am just asking questions. I don't place a lot of emphasis in calendar year (or seasonal) BTC price patterns.

[Gab0]

Kelly Loeffler, CEO Bakkt:

A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of Bitcoin is fully collateralized or pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage and cash settlement. Coupled with a secure, regulated warehouse solution, you can begin to see how this market infrastructure can help more institutions and consumers participate in the asset class.

https://medium.com/bakkt-blog/https-medium-com-kellyloeffler-price-discovery-f9c77885383

[Hueristic]

@MarkFriedenbach https://twitter.com/MarkFriedenbach/status/1030211193544134658
I will be giving a talk at #ScalingBitcoin on how a block size increase up to 3600x the present size and a change of proof-of-work can be achieved with a fully backwards compatible soft-fork—old clients see all transactions and valid SHA256 block headers.

This is not good news if onchain.  I hope this is a sidechain solution.

I'm sure it's easily blocked with a non fork update. What percentage of the network updates regularly?
I'm guessing a syntax error that will bypass a specific check in a very specific way that can be easily mitigated on an updated client.
Lets see how close I am in october.

{hate speech} as per usual.

SPEECHLESS .. SOBs..!!!!! and that was back on August 4th.. !!!!!!!!!!!! WOW   ... Again, Speechless...

Quoting the roaches racists shit is a "ignorable" offense, FYI.

Using the left's weaponized language isn't much better.

Hah!, I don't even know what that is!

ADDED: Is that like the dark state or something?

I just don't read all that Q shit.

[Last of the V8s]

events this week (@CarpeNoctom)
 
21st - senate hearing on blockchain energy use
22nd - BitMex downtime
23rd - ProShares ETF denial

[JayJuanGee]

He engages in convoluted distractions including frequently attempting to suggest that there were some kind of burden on others to prove him to be wrong rather than him having both the burden of production of evidence and persuasion about the relevance and strength of that evidence, and further if he were such a supposed genius, he would present his ideas and refrain from ad hominem bullshit....

You are delusional, JJG. In your discussions with Shelby, he provided sound reasoning based upon solid evidence supported by links documenting the evidence.

Bullshit.  He provided convolution and distorted speculation.. similar to any FUD spreader that attempts to persuade you of nonsense.

But rather than admit that you were too fuckin' lazy to read the supporting evidence, and apply your brain to follow the arguments, you merely dissembled saying the evidence was not presented. Pointing out that you refused to attempt to follow the argument is not an ad hominem attack.

There were plenty of ad hominem attacks, irrelevancies and convolutions from Shelby/aunymint, the purported angel... I remember that.  You don't want to miss an opportunity to bring up some more bullshit FUD spreading, jbreher?

[xyzzy099]

@MarkFriedenbach https://twitter.com/MarkFriedenbach/status/1030211193544134658
I will be giving a talk at #ScalingBitcoin on how a block size increase up to 3600x the present size and a change of proof-of-work can be achieved with a fully backwards compatible soft-fork—old clients see all transactions and valid SHA256 block headers.

This is not good news if onchain.  I hope this is a sidechain solution.

As I understand it, Mark is not proposing that any of these changes actually be made - he is just going to do a presentation that he says demonstrates that it is theoretically possible to do basically any change as a soft fork.

[Last of the V8s]

Kelly Loeffler, CEO Bakkt:

A critical element to price discovery is physical delivery. Specifically, with our solution, the buying and selling of Bitcoin is fully collateralized or pre-funded. As such, our new daily Bitcoin contract will not be traded on margin, use leverage, or serve to create a paper claim on a real asset. This supports market integrity and differentiates our effort from existing futures and crypto exchanges which allow for margin, leverage and cash settlement. Coupled with a secure, regulated warehouse solution, you can begin to see how this market infrastructure can help more institutions and consumers participate in the asset class.

https://medium.com/bakkt-blog/https-medium-com-kellyloeffler-price-discovery-f9c77885383

still need to know if they are going to use leverage within their own company
https://twitter.com/CaitlinLong_/status/1031565897167765505

[HairyMaclairy]

ADDED: Is that like the dark state or something?

The term you were looking for is “dank state”

[Hueristic]

ADDED: Is that like the dark state or something?

The term you were looking for is “dank state”

I hear you should stay away from that.

[Last of the V8s]

https://phys.org/news/2018-08-energy-bitcoin.html

I am a researcher who studies clean energy technology, specifically the transition toward decarbonized energy systems. I think that the conversation around bitcoin and energy has been oversimplified.

unfortunately also not an editor

As such, bitcoin mining uses an exorbitant amount of power: somewhere between an estimated 30 terrawatt hours alone in 2017 alone. That's as much electricity as it takes to power the entire nation of Ireland in one year.
Indeed, this is a lot, but not exorbitant.

but in the end

So perhaps people should quit criticizing bitcoin for its energy intensity and start criticizing states and nations for still providing new industries with dirty power supplies instead.