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

[Arriemoller]

We already have Binance in Europe.

Launches Binance Jersey

Crypto Exchange Binance Enters European Markets

According to the release, Binance is launching a new trading platform, dubbed Binance Jersey, designed for fiat-to-crypto trading of the euro (EUR) and British pound (GBP) with Bitcoin (BTC) and Ethereum (ETH) within Europe and the United Kingdom.

https://www.binance.je

https://cointelegraph.com/news/crypto-exchange-binance-enters-european-markets-launches-binance-jersey

Hmmm, won't be long before they start forcing KYC as well. Time to stop being lasy and get some cold storage going and get excess funds off of there. I hate fighting with the printer, only use it once a year or so and those cartridges drive me batty.

Did you account for air drag, or did you only consider gravitational acceleration?

I took an average pebble out my garden. It weighs 10 grams and has a mean diameter of about 20 mm. If we assume it were perfectly spherical with a drag coefficient of 0.47, travelling through air with standard density of 1.225 kg/m^3, and plug the figures into the formula for terminal velocity we get: sqrt((2*0.01*9.81)/(1.225*(3.14*0.01^2)*0.47)) = 33 m/s or 119 km/h. If we pipe that into E = 1/2*m*v^2 for energy, we get ~5.5 J or ~4 ft-lb.

Or in other words, I need Bitcoin to do something exciting.

Perfectly spherical bullets are way different to regular bullets that end up tumbling as soon as they lose the rotational speed with a way higher air drag.

Much of the penetration of a regular gunshot is thanks to its rotational speed. That's why pipeguns are not that effective, even at very short distance, unless properly directed against unprotected vital points (neck, eyes, temple, etc).

To the mooooooon!!! weeeeeeeeee

WO is a surprise box. I share this hobby, sports shooting, it seems that they understand a lot about ballistics.

Oh, past year I decided to cancel/not renew my "sports shooting" license and sell my firearms. Now I am an officially unarmed civilian 

It was already pretty boring and expensive hobby with all the increasing legislation, requirements and taxes. I envy our American friends in the gun regulations.

Of course, United States is different.

Yup, Cops stole all my guns, different.

Would you like to share with the rest of the class?

[Arriemoller]

Well, if it's infinite it won't be worth anything. That's Economics 101.

No it's not, that is a common misconception, deflationary emission can create security as well as lower volatility. There is no reason a currency should not restore lost or destroyed coins except to create a system that creates rarity of those coins and that is a SOV type system which has not been proven to be secure as of yet.

Standard economic models do not apply to crypto as they do not take the cost of the security of the currency into account.

Yes they do, they apply to everything that can be bought and sold.

[BitBustah]

The 21 million limit and block reward reductions are not set in stone. All it takes is consensus and these things can be changed.

[wachtwoord]

The 21 million limit and block reward reductions are not set in stone. All it takes is consensus and these things can be changed.

Have fun forking into oblivion.

[Last of the V8s]

https://bitcointalk.org/index.php?topic=5090427.msg49266991#msg49266991
theymos answered some of our Grin musings ... and more

[Hueristic]

^
@these prices, you Made a good deal

In a foreseeable future.... take your time and look back to Posts as these “reminder of what a great buy you Made right here”

I hope I won't regret it later about my bitcoin purchase.

This will turn out to be one of the best decisions you ever made.

[Hueristic]

Satoshi's intent was privacy on the and chain that is paramount and a deal breaker in my mind if it is not included. BTC has not fulfilled that promise as of yet.

Your algo is unraveling..more back testing required. /s

Hah, lack of coffee and no proof reading before posting got me a little dyslectic there. Thx, fixed.

And I elaborated as well.

Satoshi's intent was privacy on the chain and that is paramount and a deal breaker in my mind if it is not currently included. BTC has not fulfilled that promise as of yet and a second layer solution is not acceptable.

[Hueristic]

So what's the plan guys? If Grin works out well, bitcoin devs shove all that tech onto bitcoin?
https://github.com/mimblewimble/grin/blob/master/doc/grin4bitcoiners.md

I don’t know that you could port Bitcoin onto Grin. So it is a threat.  

But their monetary policy is fuxxed.  Big mistake having an endless emissions.  Same trap Monero fell into.  

So that significantly reduces the threat.  

No that is untrue, an emission is a necessity for a currency that's goal is use and low volatility for a plethora of reasons while a cap is good for a SOV which Btc is.

Endless emission means no value, this is, literally, economics 101. No value means that it is useless. Those guys might be good coders but they know absolutely nothing about economics.
But don't take my word for it, just wait until their wishes meets reality.

The Bolded is patently false and your premise and therefore your argument is based on a false premise and not substantiated.

Would you like to share with the rest of the class?

Nope /OpSec ...even though this account is not actively hidden

[rebal15]

Repost of a classic chart (source unknown):

no sense.

[Hueristic]

Well, if it's infinite it won't be worth anything. That's Economics 101.

No it's not, that is a common misconception, deflationary emission can create security as well as lower volatility. There is no reason a currency should not restore lost or destroyed coins except to create a system that creates rarity of those coins and that is a SOV type system which has not been proven to be secure as of yet.

Standard economic models do not apply to crypto as they do not take the cost of the security of the currency into account.

Yes they do, they apply to everything that can be bought and sold.

Not those in "Economics 101"

https://bitcointalk.org/index.php?topic=5090427.msg49266991#msg49266991
theymos answered some of our Grin musings ... and more

thanks for the link.

[mindrust]

Repost of a classic chart (source unknown):

If this graph is real shiieet. Prepare to wait 3-4+ years to see $10k+ again. Now I feel like shit. From $200 to $20k was the best chance I ever had and I've seen it coming 7-8 months before it happened (when it was around $1500) and yet I didn't do much about it.

Now I have to get older for another 5 years.  

[LFC_Bitcoin]

Repost of a classic chart (source unknown):

If this graph is real shiieet. Prepare to wait 3-4+ years to see $10k+ again. Now I feel like shit. From $200 to $20k was the best chance I ever had and I've seen it coming 7-8 months before it happened (when it was around $1500) and yet I didn't do much about it.

Now I have to get older for another 5 years.  

I think that chart is miles off how it will play out to be honest. I’m no expert, far from it but it’s way too conservative timescale wise.

[LFC_Bitcoin]

Repost of a classic chart (source unknown):

If this graph is real shiieet. Prepare to wait 3-4+ years to see $10k+ again. Now I feel like shit. From $200 to $20k was the best chance I ever had and I've seen it coming 7-8 months before it happened (when it was around $1500) and yet I didn't do much about it.

Now I have to get older for another 5 years.  

[El duderino_]

^
that graph is really looking ugly MAN delete it from our minds

[El duderino_]

https://twitter.com/maxkeiser/status/1085568737267408903

[bitserve]

^
that graph is really looking ugly MAN delete it from our minds

I could live with it.

[Last of the V8s]

https://www.reddit.com/r/Bitcoin/comments/agoh7c/we_are_blockstream_and_we_beam_bitcoin_down_from/ space. Ask us anything!
live

[ðºÞæ]

The 21 million limit and block reward reductions are not set in stone. All it takes is consensus and these things can be changed.

Have fun forking into oblivion.

No question there will be a fork when backward compatibility stops and another when the 21 mil limit changes to endless.
You end up with endless coins and fork after fork.

Bitcoin SV sticks Hardcore to 21 mil limit and peer to peer a logical and sensible backup.

[mindrust]

^
that graph is really looking ugly MAN delete it from our minds

I could live with it.

I mean it is still a good graph, at least we know at some point we'll see it above $100k but fuck man I wish it was going to happen sooner not 5 years later. That graph is very similar to the graph I follow and it also pretty much says the same thing:
https://www.tradingview.com/chart/BLX/W5wwj74c-Bitcoin-Long-Term-Trend-Analysis-A-near-term-clue-BLX-Update/

We are at least, I can't stress this enough, AT LEAST, 3 years away from the next ATH and this is if everything happens in the same time frame like it happened between 2014-2017 Dec. And it is not going to because the bowl will be wider.

I guess I can still be happy about it as long as it doesn't go below $2k and stay there forever. Even if we don't see another ATH in the next 5 years, I can be glad that I have this option where I can keep my money away from banks.

Most people don't realize how good this feature is.

[El duderino_]

^the 1year shut down of that BIG SCAM

remember people BUY-BTC be SAFE