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

[El duderino_]

via Imgflip Meme Generator

Close to order this one...., if its keep BARTING i might be wearing this a whole year

[1714048464]

1714048464

[1714048464]

1714048464

[kenzawak]

From Theymos :



Satoshi's lesson

The foundations of Bitcoin were set in stone 10 years ago today with the creation of the genesis block, and Bitcoin version 0.1 was officially released a week later. Version 0.1 was amazingly complete, and even more impressively, it had very few bugs. It also had great forward-compatibility, with explicit support for future softforks in the form of the OP_NOPn opcodes. Before anyone knew how a decentralized cryptocurrency would even work, Satoshi was figuring out how to add to Bitcoin things like smart contracts and payment channels. This is incredible, and a lot of people look at Satoshi's amazing accomplishments with Bitcoin and say stuff like, "Satoshi must be a crypto super-genius, the next Einstein." This, I think, is very much missing the point.

When Satoshi was working on Bitcoin in 2007-2009, almost all of the core ideas of Bitcoin were well-known in the cryptography community. In 1996, a summary of previous academic work on electronic cash was published, talking at length about most of the low-level cryptographic primitives used in Bitcoin and using familiar terms like "double spending". Hashcash proof-of-work was well-known, and I remember reading about it prior to Bitcoin as an idea to prevent email spam. git uses the same unbreakable chain of hashes as Bitcoin's block chain, and was first released in 2005. Satoshi made one major leap: combining all these pieces to prevent double spending through a PoW block chain. This was impressive, but the same flash of brilliance could've happened to anyone who was following this stuff.

Satoshi is not awesome because he was watching the crypto world and had a brilliant idea. He's awesome because upon having this idea, he carried it out. You know what I would've done if this idea had come to me? I probably would've mentioned it to a few people, maybe written some very basic code if I was feeling especially ambitious. You know what Satoshi did? He spent 2+ years contemplating every possible aspect of the system he could think of, and wrote code that worked brilliantly in the real world. Satoshi's code was good, but anyone who had read a good C++ book could've written similarly-good code. Anyone who had taken an intro crypto course or read a few books on the subject would understand Satoshi's usage of crypto primitives. The task of creating Bitcoin required a small flash of brilliance, moderate skill, and an unbelievably huge amount of dedication to thinking about, coding, and testing the system until it worked exactly as envisioned.

Satoshi's lesson is that you don't need to be the next Einstein in order to change the world. Nor do you need to have much money, or influence with the world's "movers & shakers". You just need to put in the effort. Satoshi, probably just an ordinary hobbyist like anyone here, saw that something was lacking in the Universe, and he fought tooth-and-nail for 2+ years until this imperfection was corrected. This is what makes Satoshi and his work my greatest inspiration.

Bitcoin has come a long way in 10 years, but it still has much more room to grow, with both major challenges and major opportunities ahead. How Bitcoin moves forward - how Satoshi's work continues - is for as many people as possible to take personal responsbility for improving the Bitcoin ecosystem, creating interesting things, and changing the world for the better. Since we've long passed the moon, I hope you'll join me in aiming for the stars.

[egyptian magician]

I actually dreamed last night that bitcoin fell to $6 USD, and then to $2 USD. Pretty scary. So what did I do? Bought more! In reality, I think it'd be finished at that point. Hopefully not a vision of things to come...

[empowering]

It seems to me that fully decentralised exchanges, could have a tough time regulatory wise,

I don't see how. If an exchange were truly decentralized, there would be no handle which the state could grab in order to inject its desired regulation.

Sure, they could pass laws. But that would be tantamount to prohibiting person to person sales of anything and everything (i.e., used cars, beanie babies, garage sales, ...). Something that today exists -- at least in the USA -- only for very limited classes of goods such as firearms.

Well, I have a few thoughts, if you are talking about an exchange that is going to cater for a few small fry retail traders here and there, a few honest folk with legitimate privacy concerns, and then the other main fringe groups i.e a few drug dealers and black sites, the odd tax evader, money launderer, or any other anonymous trader whose sole purpose of using a DEX is to evade KYC, AML, and proceeds of crime and terrorism laws, then yeah sure fully decentralised exchanges can operate and function perfectly well and I fully anticipate there to be these exchanges continuing to pop up and provide exactly that service into that market and that's all good and well ..... or not.

However, I mentioned in my OP that I was talking about an exchange that could do HUGE numbers AND integrate with the existing financial system AND the new one, I didn't say to bypass the larger financial system (DEX) I said to FULLY INTEGRATE and do HUGE numbers...  for a DEX to do so then it would need to implement KYC and AML and all the rest of it from a compliance point of view... otherwise it is destined to become a cryptocurrency to cryptocurrency only exchange, without ever any hope of gaining access to a fiat on and off ramp, therefore making it outside of the system, and a blockbox with limited potential for growth ... (not saying thats a bad thing, and not saying there wont be pretty big dexs in the future)

Ultimately, a DEX can still be shut down or the creators or devs be held accountable, so until a true open source distributed autonomous set up is made, and put out into the wild,  with the ability to update its code and replicate itself and continually respawn on a new address or live on a dark sites or on clients only, then a dex isnt really a dex.

 At the end of the day, its the  centralised and undistributed  custody that's our problem right? so that's the sticky bit that needs to be solved, so solve that bit, utilise a blockchain and have a decentralised custody solution that handles deposits and withdrawals and have that linked to a centralised exchange with a super fast matching and trade engine that then clears the trades and communicates with a decentralised custody solution.  The custody aspect could even in fact be shared by other exchanges too.

 This way we get the benefit of the DEX that we WANT and NEED, and then the rest of it which in fact a blockchain would make more clunky and slower and less efficient,  we already have perfectly good technology to deal wth all other technical aspects of an exchange, and why would we want all of that crap immortalised in a bloated blockchain, for the sake of it?

However we also get the added bonus of integrating with the real world, banks, and financial institutions and businesses and funds and market makers and liquidity providers etc etc.... which is where the HUGE money aspect of it comes in that I was talking about , and integrating with RL business now, not at some airy fairy wouldn't it be nice time in the future.  

Fact is it will be difficult for any entity that cares about or has a responsibility to regulators, or clients or shareholders to be able to interact in any meaningful way with a pure 100% DEX even if such a thing were to exist. Unless the DEX is fully compliant, and then you have lost the use case for DEXs , and actually you can build a better exchange that is not fully decentralised.

(TL/DR)  Therefore in conclusion dexs have a smaller potential (at this moment in time) to integrate and tap into the HUGE money flows that are incoming to the cryptocurrency space... and without the ability to remain anonymous they lose their edge, in terms of tech, the best solution is decentralise the parts of an exchange that need it (custody aspects) and the rest of it be centralised as this is faster, easier, more secure, easier to integrate with the rest of the world, have fiat on/off ramps, etc etc etc - because regulations

[bitcoinPsycho]

Proof of Stake:  designed to centralize into monopoly or cartel
Proof of Work:   designed to centralize into monopoly or cartel

Proof of jackass


Sorry for quoting rOach 

[Arriemoller]

Is there anyone who can buy a copy of The Times for me please?

[gentlemand]

Is there anyone who can buy a copy of The Times for me please?

I can nip down the shop and see if one's still there. Would it bring you joy?

[Last of the V8s]

https://twitter.com/CryptoCobain/status/1080884596445769733

why tf does coinbase tweet just then about its incident 8 days ago?

[El duderino_]

my hand says

i think we need to go higher

[Cryptoqueeen]

Hi Bob, Classy enough? 

Hi forum, Tell me again that this is only a gentlemen's club.

xoxo

[infofront]

It's funny that PoS is thrown around like some kind of improvement over PoW. Vitalik is such an innovative genius for introducing it! Meanwhile, half the shitcoins have been using it for years.

Wei Dai created proof of stake in his Bitcoin forerunner, B-Money. As an alpha quality, proof of concept cryptocurrency, it worked alright. But for the real deal, Bitcoin, it was scrapped in favor of PoW - for good reason.

[El duderino_]

^^

[Arriemoller]

Is there anyone who can buy a copy of The Times for me please?

I can nip down the shop and see if one's still there. Would it bring you joy?

Yes it would bring me much joy.

[Last of the V8s]

Oh it's the Goose's bird! Welcome back. Ladies are allowed. Encouraged even.
Your nails are pretty.

[Paashaas]

Good morning Bitcoinland.

Down a bit in the last little while I see, but still going basically sideways... currently $3798USD/$5130CAD (Bitcoinaverage).

Meanwhile this place seems especially infested with trolls and FUDsters today.   Get a life losers.

Red flag!

HitBTC freezes customers accounts ahead of Proof of Keys Event...

https://www.ccn.com/bitcoin-exchange-hitbtc-freezes-customers-accounts-ahead-of-proof-of-keys-event/

Cold storage holders unaffected.

Didn't anyone learn a lesson from MtGox?

[Last of the V8s]

now okex went down
edit and back 20:20
2nd edit now back on again properly this time 20:53

[gentlemand]

Is there anyone who can buy a copy of The Times for me please?

I can nip down the shop and see if one's still there. Would it bring you joy?

Yes it would bring me much joy.

Just obtained one just for you. Lemme know how to get it to you.

[El duderino_]

Oh it's the Goose's bird! Welcome back. Ladies are allowed. Encouraged even.
Your nails are pretty.

yeah she couldn't post that pic herself.... bob made a joke of not classy a while back, now she tried to BTCher nails a bit....

i liked it a lot

[El duderino_]

so we start to see crypto all over the globe
#buy BTC

[El duderino_]

Is there anyone who can buy a copy of The Times for me please?

I can nip down the shop and see if one's still there. Would it bring you joy?

Yes it would bring me much joy.

Just obtained one just for you. Lemme know how to get it to you.

post it