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

[Elwar]

Define ‘enough’ third parties under the following constraints:

• you must pay each member of ‘enough’ to be a reliable host  
• the sum of all payments to ‘enough’ must be significantly less than the pittance currently paid to AWS / Azure for storage  
• the hardware and internet connectivity provider by members of ‘enough’ is best described as a ‘mixed bag'  
• members of‘enough’ include 11 year olds, Billy Bob and itinerant sex workers.

Hey I take offense at that, not saying which part though.

OT (like everything else)

Hah, this is funny.


talk about getting PWned!

Hilarious.

Look at how many people were schooled on the fact that someone is willing to voluntarily pay money to express their distaste for being forced to hand over their own money.

Bitcoin user not affected.

[Elwar]

Have there been any projects working toward combining lightning and hosting data/bandwidth? Like "pay me 1 satoshi/Mb per day or I drop your data".

Even if it’s encrypted, how do you trust a third party random to reliably host your data?

With enough 'third parties' (AKA storage nodes), and an erasure coding layer, this is a solved problem. How do you think Google, Amazon, et al do it? It is not by guaranteeing unlimited uptime for any individual storage node. It is by making the reliability of each individual storage node irrelevant, by employing intelligent redundancy in a layer above the hardware.

Define ‘enough’ third parties under the following constraints:

• you must pay each member of ‘enough’ to be a reliable host  
• the sum of all payments to ‘enough’ must be significantly less than the pittance currently paid to AWS / Azure for storage  
• the hardware and internet connectivity provider by members of ‘enough’ is best described as a ‘mixed bag'  
• members of‘enough’ include 11 year olds, Billy Bob and itinerant sex workers.  

The idea I was toying with was sort of like a decentralized reputation system. You might have a json file with a few commonly agreed upon fields like

Name: HairyMaclairy
Type: <bitcoin sales>
Rating: 1/10
Description: "The dude stiffed me"
Evidence: <screenshot.jpg>

Hash that, put the hash on the blockchain and send the small amount of data to the decentralized hosts. You have a copy so no worries if everyone drops it, you put it back out there. Over time you may no longer feel the need to keep the review out there and just stop paying. Or someone who really loves the reputation system (or figures out a way to profit from it) can host all of the data, forever archived.

The key being, no centralized system can censor it.

Name: AWS
Type: <hosting service>
Rating: 0/10
Description: "AWS sucks!"
Evidence: "word.doc"

"Cannot find file you were searching for on AWS called 'AWS_sucks.txt'".

Also by having it decentralized, you can just create a reputation system software program that you just fill out the form then set up an auto pay or pay up front for X amount of months. Paying 1 satoshi/Mb per day you could keep such a small message online for years with just a few bits.

The software could also rate providers by up time and prioritize using their services. Requiring each user to create their own AWS or hosting service adds complexity to the whole process that most people wouldn't endure.

This could also be used for a decentralized turing complete program allowing for some decentralized apps without using alt coins. Decentralized web site, javascript, etc.

At one point I had an idea for selling wall mounted bitcoin price trackers. I considered creating a web page that the tracker referenced to display the price but was worried about someone hacking the page and now everyone that had my product on their wall was now displaying something else. I looked for a way to do a decentralized web page to be displayed that could be updated and changed only by someone with the private key but could not find anything (other than promises by shitcoins).

[HairyMaclairy]

Name: HairyMaclairy
Description: "The dude stiffed me"
Evidence: <screenshot.jpg>

I’m not the one running around in a bear suit.

[HairyMaclairy]

I’m confused.  This looks like a great trade.  Except I would be moving the stop up right now. 

[xhomerx10]

edit 3:

The use and extent of insurance in connection with the business of holding, exchanging, or transacting in virtual currencies is not well understood.

Egregious misspelling unbecoming of an official state agency report.

I must be missing something...
I can't find any misspelling in that quote...much less egregious.

holding. hodling.

umm... sorry?

https://www.youtube.com/watch?v=-MsvER1dpjM

 Humour aside, I noticed, while I was skimming the report, that "Taiwan" was misspelled as "Tawain" not once but twice.  I wondered if the NY AG sub-contracted the writing of the report to Chinese nationals who purposely misspelled Taiwan so the report would bypass the Golden Shield because I find it hard to believe that the following people:
_{Senior Advisor and Special Counsel to the Attorney General} Simon Brandler
_{Senior Enforcement Counsel} John Castiglione
_{Assistant Attorney General} Brian Whitehurst _{of the Investor Protection Bureau
Assistant Attorney General} Joseph Mueller _{of the Consumer Frauds & Protection Bureau
Investor Protection Bureau Chief} Cynthia Hanawalt
_{Chief of Staff} Brian Mahanna
along with their various administrative assistants combined with the power of spell-check could have possibly missed this.

[HairyMaclairy]

[JayJuanGee]

Name: HairyMaclairy
Description: "The dude stiffed me"
Evidence: <screenshot.jpg>

I’m not the one running around in a bear suit.

That's because you are in disguise.   

[serveria.com]

Great tshirt but not as good as Vitalik's unicorn one 

[ivomm]

https://dailyhodl.com/2018/09/19/bitcoin-btc-price-analysis-a-move-after-the-vaneck-etf-decision/

"I am biased to the upside with what I am seeing at this point. My best guess for a major move to happen will be after the VanEck ETF decision by the SEC this month. I imagine we will have a similar reaction to when the other ETFs got sidelined. Nothing will happen after the announcement, and then we will move up. There is no reason the SEC would approve the VanEck ETF at this point and it should not be a surprise to anyone that it gets delayed.

If the market rockets down after that ETF gets denied it will be a clear sign of either manipulation or stupidity. In my view, the only surprise should be if this gets approved. Otherwise, the SEC will kick the approval down the road as long as possible because that’s what they do.

Happy hodling."

[alevlaslo]

https://www.ccn.com/fidelity-investments-aims-to-release-crypto-products-by-year-end/

[HairyMaclairy]

That's because you are in disguise.  

[Hueristic]

Define ‘enough’ third parties under the following constraints:

• you must pay each member of ‘enough’ to be a reliable host  
• the sum of all payments to ‘enough’ must be significantly less than the pittance currently paid to AWS / Azure for storage  
• the hardware and internet connectivity provider by members of ‘enough’ is best described as a ‘mixed bag'  
• members of‘enough’ include 11 year olds, Billy Bob and itinerant sex workers.

Hey I take offense at that, not saying which part though.

OT (like everything else)

Hah, this is funny.


talk about getting PWned!

Hilarious.

Look at how many people were schooled on the fact that someone is willing to voluntarily pay money to express their distaste for being forced to hand over their own money.

Bitcoin user not affected.

I'm tapped. +1 WO merit for you sir.

Name: HairyMaclairy
Description: "The dude stiffed me"
Evidence: <screenshot.jpg>

I’m not the one running around in a bear suit.

Rotflmfao! stiffed me...lol

 Humour aside, I noticed, while I was skimming the report, that "Taiwan" was misspelled as "Tawain" not once but twice.  I wondered if the NY AG sub-contracted the writing of the report to Chinese nationals who purposely misspelled Taiwan so the report would bypass the Golden Shield because I find it hard to believe that the following people:
_{Senior Advisor and Special Counsel to the Attorney General} Simon Brandler
_{Senior Enforcement Counsel} John Castiglione
_{Assistant Attorney General} Brian Whitehurst _{of the Investor Protection Bureau
Assistant Attorney General} Joseph Mueller _{of the Consumer Frauds & Protection Bureau
Investor Protection Bureau Chief} Cynthia Hanawalt
_{Chief of Staff} Brian Mahanna
along with their various administrative assistants combined with the power of spell-check could have possibly missed this.

Nice observation, interestingly enough if you google Tawain you get Tiawan results. So by that metric I would say their filter would catch that misspelling.

[cAPSLOCK]

Cute cartoon, but I find it promotes a ridiculous narrative.

The idea that BCH will fail and crush alts could be somewhat true.  But the implication that it will weaken BTC is ridiculous.  The really goofy part is the idea that Ethereum is somehow a safe haven with a clear road is ludicrous.

[Totscha]

Cute cartoon, but I find it promotes a ridiculous narrative.

The idea that BCH will fail and crush alts could be somewhat true.  But the implication that it will weaken BTC is ridiculous.  The really goofy part is the idea that Ethereum is somehow a safe haven with a clear road is ludicrous.

I could be wrong (like many times before), but I think you're the only one who made those three conclusions.

My interpretation:

The aVerlanche is going to bring BCH down where it can join the rest of shitcoins.
BTC will remain strong and the only one at the top.
Ethereum is a user friendly (paved road) playground. Anyone with a couple of hours spare time can create a useless token on top of it.

[aleksej996]

The really goofy part is the idea that Ethereum is somehow a safe haven with a clear road is ludicrous.

I personally think that Monero is more likely to outlive Ethereum, then other way around.
Monero has a pretty time-less value, in my opinion.
Not just for privacy, but for it's constant GPU mining as well, due to it's occurring forks to keep ASICs away.

Ethereum on the other hand, I don't know. It seems to be in that very competitive, very fast evolving market. Unlike most altcoins, it is useful, but I do have my serious doubts about it's stability and longevity over decades.

[cAPSLOCK]

I could be wrong (like many times before), but I think you're the only one who made those three conclusions.

I am super unique!

My interpretation:

The aVerlanche is going to bring BCH down where it can join the rest of shitcoins.
BTC will remain strong and the only one at the top.
Ethereum is a user friendly (paved road) playground. Anyone with a couple of hours spare time can create a useless token on top of it.

I like it.  It is a better story than mine.

[kirreev070]

[El duderino_]

[jbreher]

That's clever.

Though I can't help but notice that the bear bears a striking resemblance to The Oatmeal's Sriracha Bear.

[Astargath]

Fucking insane dude, $200b+ and they say cryptos are used for terrorism and crime lmao. That bank laundered more money than the entire marketcap of crypto today