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

[Paashaas]

New Blockstream Joint Venture to Expand Bitcoin Applications in Japan.

https://www.prweb.com/releases/new_blockstream_joint_venture_to_expand_bitcoin_applications_in_japan/prweb16046970.htm

[realr0ach]

BIS chief Agustín Carstens: Bitcoin must depart from PoW.

I like how bankers starting to sweat they know Bitcoin will eat their lunch  

https://cointelegraph.com/news/major-central-bank-institution-bis-bitcoin-must-depart-from-proof-of-work

The kikes at the BIS are too stupid to know PoW is designed to self destruct without them having to try to force anyone off it.  The overhead per transaction is huge and it's only kept afloat because a high initial, fixed block reward subsidizes each transaction.  Once the subsidy becomes too anemic, people will just abandon that chain and use a different one that still has a block reward running to subsidize their transactions, or switch to an even more centralized, lower overhead system like PoS.

The fact PoW is designed to centralize, and thus has no fundamentals and high overhead, is not hard to lose vs equally shitty or worse systems with less overhead.  That's why it's best to just tell any digital shitcoin shill to fuck off and support physical metals instead.  It's difficult to create a dystopia with metals as money, while digital shitcoins are a dystopian govt tracking and control system by default straight out of the box, and they will only mold them further towards that task each passing day.

[JayJuanGee]

BIS chief Agustín Carstens: Bitcoin must depart from PoW.

I like how bankers starting to sweat they know Bitcoin will eat their lunch 

https://cointelegraph.com/news/major-central-bank-institution-bis-bitcoin-must-depart-from-proof-of-work

I experience a churning of my stomach when I see non-sense like that.  It is a sign of desperation, like you are suggesting, and it there is a kind of "holy cow" regarding the level of misinformation that is presented by the underlying assertion.

Some folks don't realize that the "holy shit" of bitcoin is wrapped up in its proof of work, so proof of work is a feature, not a bug.  Proof of work causes bitcoin incentive, and like you suggested, paashaas, will continue to generate incentives that cause the downfall of the whole financial system, causing value to flow into bitcoin.  The audacity of the article seems to show that there are many traditional financial incumbents who will be willing to battle quite strenuously to spread their nonsense about bitcoin supposedly being flawed, when in fact they are pointing out central features.. namely POW in this case.

By the way, bitcoin is stubborn and very difficult to change, too, and that remains as a feature rather than a bug to defend against misinformation campaigns that try to get bitcoin to become paypal-like, so stop whining about how stubborn and "inefficient" bitcoin is you fucking bank shill bitcoin naysayers.       

[jojo69]

Something that 'breaks the rules'.

That article making parallels between bittorrent and bitcoin really hit home, didn't it.

indeed

[Hueristic]

BIS chief Agustín Carstens: Bitcoin must depart from PoW.

I like how bankers starting to sweat they know Bitcoin will eat their lunch 

https://cointelegraph.com/news/major-central-bank-institution-bis-bitcoin-must-depart-from-proof-of-work

I experience a churning of my stomach when I see non-sense like that.  It is a sign of desperation, like you are suggesting, and it there is a kind of "holy cow" regarding the level of misinformation that is presented by the underlying assertion.

Some folks don't realize that the "holy shit" of bitcoin is wrapped up in its proof of work, so proof of work is a feature, not a bug.  Proof of work causes bitcoin incentive, and like you suggested, paashaas, will continue to generate incentives that cause the downfall of the whole financial system, causing value to flow into bitcoin.  The audacity of the article seems to show that there are many traditional financial incumbents who will be willing to battle quite strenuously to spread their nonsense about bitcoin supposedly being flawed, when in fact they are pointing out central features.. namely POW in this case.

By the way, bitcoin is stubborn and very difficult to change, too, and that remains as a feature rather than a bug to defend against misinformation campaigns that try to get bitcoin to become paypal-like, so stop whining about how stubborn and "inefficient" bitcoin is you fucking bank shill bitcoin naysayers.       

terse

[realr0ach]

If you've ever noticed Twitter & Reddit are garbage but couldn't explain exactly why:

https://www.reddit.com/r/MGTOW/comments/aiejff/this_is_the_type_of_wimyn_gizmodo_hides/eeo86bh/

[jbreher]

Anyone who has time to complain about wealth inequality doesn't really deserve moving upwards in the food chain, as they could've invested the same time on figuring out sensible goals for their life as well as some steps towards them.

QFT.

+1

What he said.

[Hueristic]

Anyone who has time to complain about wealth inequality doesn't really deserve moving upwards in the food chain, as they could've invested the same time on figuring out sensible goals for their life as well as some steps towards them.

QFT.

+1

What he said.

What if they used the time, then figured out the solutions and then realized every one of those solutions would get them killed so decided to just sit back and complain until someone else finds a better solution that doesn't get them killed?

[realr0ach]

Anyone who has time to complain about wealth inequality doesn't really deserve moving upwards in the food chain, as they could've invested the same time on figuring out sensible goals for their life as well as some steps towards them.

QFT.

+1

What he said.

Stupid post.  There's probably legions of 120+ IQ people in Japan working two jobs 90 hours a week, making jack shit for money and barely getting by.  And this is one of the most egalitarian countries on earth.  Working hard, being smart, or being productive does not mean you will be rewarded for it.  

Shitcoins are a great example.  I consider all digital shitcoins a scam and only physical metals as money, but most people here believe Bitcoin is legit, just the other shitcoins like Ethereum are a scam.  Welp, hate to break it to you, but the pump and dump scam known as Ethereum created far more profit for people than just about anything else.  Other complete bullshit like "Tron" too.  Most people will agree that physical metals are a hell of a lot better investment than "Tron", but are metals holders being rewarded lately?  Nope.  But "Tron" holders are driving lambos.

The entire economic system is so broken that you need to make the wrong decisions on purpose to make money.  The whole thing needs to be burned to the ground.  Work hard to get an engineering degree in Canada?  You'll have something like a 20% chance of employment. Be an absolutely useless woman and create an instagram and patreon account?  Make $150k a year.  I have no idea exactly where this money comes from, but it's common.  At this point, dropping out of middle school and becoming a white rapper would probably be more productive than going to college.

https://dailystormer.name/this-thot-is-making-154000-a-month-on-patreon-and-basically-youre-a-fucking-enabler/

[JayJuanGee]

BIS chief Agustín Carstens: Bitcoin must depart from PoW.

I like how bankers starting to sweat they know Bitcoin will eat their lunch 

https://cointelegraph.com/news/major-central-bank-institution-bis-bitcoin-must-depart-from-proof-of-work

I experience a churning of my stomach when I see non-sense like that.  It is a sign of desperation, like you are suggesting, and it there is a kind of "holy cow" regarding the level of misinformation that is presented by the underlying assertion.

Some folks don't realize that the "holy shit" of bitcoin is wrapped up in its proof of work, so proof of work is a feature, not a bug.  Proof of work causes bitcoin incentive, and like you suggested, paashaas, will continue to generate incentives that cause the downfall of the whole financial system, causing value to flow into bitcoin.  The audacity of the article seems to show that there are many traditional financial incumbents who will be willing to battle quite strenuously to spread their nonsense about bitcoin supposedly being flawed, when in fact they are pointing out central features.. namely POW in this case.

By the way, bitcoin is stubborn and very difficult to change, too, and that remains as a feature rather than a bug to defend against misinformation campaigns that try to get bitcoin to become paypal-like, so stop whining about how stubborn and "inefficient" bitcoin is you fucking bank shill bitcoin naysayers.       

terse

your point?

[jbreher]

Anyone who has time to complain about wealth inequality doesn't really deserve moving upwards in the food chain, as they could've invested the same time on figuring out sensible goals for their life as well as some steps towards them.

QFT.

+1

What he said.

What if they used the time, then figured out the solutions and then realized every one of those solutions would get them killed so decided to just sit back and complain until someone else finds a better solution that doesn't get them killed?

I can't even figure out what you are getting at. Working on life will get you killed? I guess in some sense. In the long run, we're all dead.

Life is hard. Buck up, bucko - or get lapped by those willing to put in the work.

[realr0ach]

Don't you worry, we've been putting in work on the "solution":

[Cryptotourist]

FFS r0ach, I went to sleep, got up and you are still on it - the thread I mean, not that....other thing.

Haven't we reached your Schelling point for the day?

And to think you are convincing anyone. I bought a whole coin yesterday.

#

Morning WO's!

[kenzawak]

https://www.reddit.com/r/Bitcoin/comments/aidwtd/now_in_a_football_game_in_israel/een4hiy
The guy behind it is Moshe Hogeg, he bought the team, Beitar Jerusalem (the main team of Jerusalem). Also, he is the founder of Sirin Labs (Finney, the blockchain phone).

NICE.... but I just finding it really cool/awesome man

He's also pretty shady:
https://www.ccn.com/renowned-israeli-crypto-entrepreneur-moshe-hogeg-accused-of-misusing-ico-funds/

[jojo69]

To be fair, the deck is stacked pretty badly.

Even some pretty intelligent folks decide it's not really worth playing.

In conditions of true institutionalized inequality, revolution is pulling yourself up by your bootstraps.

[estenity]

@ roach, you really have nothing in your arguments regarding BTC fungibility vs PM's. Your claims are pure speculation that certain addresses will be blacklisted where miners won't touch it. That has not happened and it's not even close. Until an address or transaction is muted on the main chain or LN you're just spouting  your own conspiracy theory Armageddon fears.
Regarding middlemen/ transaction validators:
I've personally been taxed many times after arriving in airports carrying non personal PM's. If I try to hide them or refuse to pay the tax, my physical PM's get confiscated.  It's not possible to carry significant amounts of PM's abroad unless you figure out how to smuggle them in. There's just one example of a realized middleman for your physical PM's.
Today's commerce largely does not happen face to face with physical exchange and if I'm willing to travel to the merchant who is in another country, how will I avoid such middlemen. Do you suppose I should simply pay the tax on my PM's every time I fly?
Dystopia is believing we will all go back to carrying chunks of metal in our pockets again.
Since you want to fight this "war" and you seem capable enough to articulate, please tell, what future would you have for money if it were to unfold to your liking?

put this as well as our presence here in the context of MMT (modern monetary theory).
as debt does not exist, it is replaced by large taxation to avoid inflation escape at a large scale.
all the "small phenomenons" remaining all around have to be controlled.

[HairyMaclairy]

Anyone who has time to complain about wealth inequality doesn't really deserve moving upwards in the food chain, as they could've invested the same time on figuring out sensible goals for their life as well as some steps towards them.

QFT.

+1

What he said.

What if they used the time, then figured out the solutions and then realized every one of those solutions would get them killed so decided to just sit back and complain until someone else finds a better solution that doesn't get them killed?

I can't even figure out what you are getting at. Working on life will get you killed? I guess in some sense. In the long run, we're all dead.

Life is hard. Buck up, bucko - or get lapped by those willing to put in the work.

I dated a girl for a number of years.

Her father was wealthy and powerful.  He owned 25+ houses that he rented out.  He was also a drunk and highly abusive.

The mother eventually divorced him after a series of domestic violence incidents.  The father decided to make the mother's life a living hell.   He hired lawyers to sue the mother for everything under the sun, stalked the mother and tried to destroy her friendship networks.  This went on for five years.  

The mother grew deeply depressed and semi suicidal.  My girlfriend and her sister at the age of 8 had to get the mother out of bed in the morning, get her dressed so the mother could drive them to school.  Some days they couldn't get their mother out of bed so they missed school.  

My girlfriend was incredibly smart and motivated but she missed a lot of school during that five year period.  It affected her grades and she had to work hard to try to catch up.  She also had the mental load of trying to parent her own mother through the divorce and aftermath.  There is no doubt in my mind if she had had a normal, stable childhood, she would have been a surgeon or rocket scientist.  Instead she will likely never achieve her full potential.  

Let's not kid ourselves that everyone has equality of opportunity.  Because they don't.

[Ibian]

Anyone who has time to complain about wealth inequality doesn't really deserve moving upwards in the food chain, as they could've invested the same time on figuring out sensible goals for their life as well as some steps towards them.

QFT.

+1

What he said.

Stupid post.  There's probably legions of 120+ IQ people in Japan working two jobs 90 hours a week, making jack shit for money and barely getting by.  And this is one of the most egalitarian countries on earth.  Working hard, being smart, or being productive does not mean you will be rewarded for it.  

Shitcoins are a great example.  I consider all digital shitcoins a scam and only physical metals as money, but most people here believe Bitcoin is legit, just the other shitcoins like Ethereum are a scam.  Welp, hate to break it to you, but the pump and dump scam known as Ethereum created far more profit for people than just about anything else.  Other complete bullshit like "Tron" too.  Most people will agree that physical metals are a hell of a lot better investment than "Tron", but are metals holders being rewarded lately?  Nope.  But "Tron" holders are driving lambos.

The entire economic system is so broken that you need to make the wrong decisions on purpose to make money.  The whole thing needs to be burned to the ground.  Work hard to get an engineering degree in Canada?  You'll have something like a 20% chance of employment. Be an absolutely useless woman and create an instagram and patreon account?  Make $150k a year.  I have no idea exactly where this money comes from, but it's common.  At this point, dropping out of middle school and becoming a white rapper would probably be more productive than going to college.

https://dailystormer.name/this-thot-is-making-154000-a-month-on-patreon-and-basically-youre-a-fucking-enabler/

Anyone who wants can have all the money they need. Not necessarily as much as they want, which is where the people who do nothing but complain come from. All it takes is the choice. And some people choose to complain instead of improving their situation. It's usually not IQ 120 people who make this latter choice.

[windjc]

Anyone who has time to complain about wealth inequality doesn't really deserve moving upwards in the food chain, as they could've invested the same time on figuring out sensible goals for their life as well as some steps towards them.

QFT.

+1

What he said.

What if they used the time, then figured out the solutions and then realized every one of those solutions would get them killed so decided to just sit back and complain until someone else finds a better solution that doesn't get them killed?

I can't even figure out what you are getting at. Working on life will get you killed? I guess in some sense. In the long run, we're all dead.

Life is hard. Buck up, bucko - or get lapped by those willing to put in the work.

I dated a girl for a number of years.

Her father was wealthy and powerful.  He owned 25+ houses that he rented out.  He was also a drunk and highly abusive.

The mother eventually divorced him after a series of domestic violence incidents.  The father decided to make the mother's life a living hell.   He hired lawyers to sue the mother for everything under the sun, stalked the mother and tried to destroy her friendship networks.  This went on for five years.  

The mother grew deeply depressed and semi suicidal.  My girlfriend and her sister at the age of 8 had to get the mother out of bed in the morning, get her dressed so the mother could drive them to school.  Some days they couldn't get their mother out of bed so they missed school.  

My girlfriend was incredibly smart and motivated but she missed a lot of school during that five year period.  It affected her grades and she had to work hard to try to catch up.  She also had the mental load of trying to parent her own mother through the divorce and aftermath.  There is no doubt in my mind if she had had a normal, stable childhood, she would have been a surgeon or rocket scientist.  Instead she will likely never achieve her full potential.  

Let's not kid ourselves that everyone has equality of opportunity.  Because they don't.

Don't ask for life to be fair. Ask for life to be worth it.

Your GF can achieve whatever the fuck she wants to achieve. All that stuff you mentioned is just an excuse. Would she have been different or had another path if none of that would have happened. Sure, perhaps. But life isn't fucking fair for anyone who has ever lived. That is it's very nature. Once we free ourselves from being "victims" of circumstances then the sky is truly the limit.

[HairyMaclairy]

No one is asking for life to be fair.  It isn't. 

Just don't deceive yourself that you hit a home run because you happened to be born on third base.