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

[jojo69]

Thanks for the hat. I don't mind that GreatArkansas is using it too.

[1713886832]

1713886832

[1713886832]

1713886832

[BTCMILLIONAIRE]

Billionaires repeatedly put their money at stake for returns. "Everyone" else is staking their money on iPhones. So fuck off you filthy thief.

Billionaires don't create wealth. They hire people to create wealth and then underpay them. That underpayment gap has become obscene.

Smarter billionaires are starting to realize that they need non-pauperized public/middle class to sell the products to. This is how they make their money, mostly.
If everyone is poor, except a small %, then there is no mass market.
The question is how to get from here to there.

A peaceful small redistribution (not 70% of course, could be 1%) is much much better (as a principle, not in practice) than something worse, although I have NO trust in any politician and don't see anyone with enough 'balls" to pull this off.
The alternative is much darker, and I am not talking about riots, but a possibility of Homo sapiens subspecies emerging, "Citadels", etc.
A split between super- and sub-humans. Once it is partially genetic, there would be no passage back.

I am currently reading the third Harari's book (21 lessons for the 21st century), which touches on these topics and this book is much better than the second one (first was good too).

I believe that data might end up redistributing some of the wealth.

The first company that comes along and allows people to monetize their own data will displace Google & co. And it will provide people with some semblance of income. While right now this might not be enough to live off of, it could realistically get to a point where it will. After all, costs are on an exponential down trend.

The big exception (for necessities) is living space, but that's because people cluster around overpopulated areas rather than trying to live in places where housing is affordable for them.

Once technology allows more efficient distribution of resources this would probably change too though, and people would start decentralizing more. I mean, who wants to live in a tiny flat if they can live in a nice house out in the green?



Edit: Another thing. There's an increase in the number of people who make a living off of platforms like Patreon. Whoever has a passion to share with the world will also be increasingly likely to have a steady income based off of that. We don't need governments to steal our money and redistribute it for us. That will lead to war or capital flight.

[GreatArkansas]

Where I can find the 'hat' avatar rules things?

[infofront]

Where I can find the 'hat' avatar rules things?

To wear the hat, one must earn the hat.

To earn the hat, one must become the hat.

[HairyMaclairy]

1215 called to remind us that a parliament is no way to run a kingdom.

Have you considered getting a King?  I can make some recommendations if you are willing to keep an open mind?

[GreatArkansas]

Where I can find the 'hat' avatar rules things?

To wear the hat, one must earn the hat.

To earn the hat, one must become the hat.

Hahahaha. I still can't understand, how to become the hat then?

[BTCMILLIONAIRE]

Where I can find the 'hat' avatar rules things?

To wear the hat, one must earn the hat.

To earn the hat, one must become the hat.

Hahahaha. I still can't understand, how to become the hat then?

Ask Papa John's to make you one with everything.




Or kindly ask our mad hatter xhomerx.

[Paashaas]

LN grows 24/7 

[Dogboy714]

But why? How is it being used?

[El duderino_]

Thanks for the hat. I don't mind that GreatArkansas is using it too.

No me to

They are Unique “codes” HAT attached to single persons

Only Maybe the birthday HAT etc is multi use

[BTCMILLIONAIRE]

But why? How is it being used?

To learn how to use it. And to establish reputation for the future. Both of which imply a chance for passive income down the road.

[El duderino_]

Where I can find the 'hat' avatar rules things?

Ask XhomerX he’s the HAT-takemi.....

Provide him something and he Will create you an Unique piece of HAT art

[El duderino_]

Where I can find the 'hat' avatar rules things?

To wear the hat, one must earn the hat.

To earn the hat, one must become the hat.

How does one become Trump and Thanos in one the same HAT?

[El duderino_]

A taxi accepting bitcoin in Barcelona.  The virus is spreading.  #bitcoin

Nice!

https://twitter.com/rivetacrypto/status/1105613744070164481?s=21

[JayJuanGee]

But why? How is it being used?

To learn how to use it. And to establish reputation for the future. Both of which imply a chance for passive income down the road.

I agree with you, BTCMILLIONAIRE, that lightning network is in a kind of practice stage, which means learning and building more tools and experimenting, and of course, if more and more tools are developed, then income opportunities will develop as well.

On the other hand, I doubt that such lightning network income is anywhere close to achieving passive income status (even though that does seem to be a reasonable long term goal).  The mere concept of "passive income" means that you earn money with little to no work, and from what I can tell, there are a lot of true believers involved in lightning network, and therefore, seem to be putting in way more work than what is likely to pay off for them on any kind of personal financial level.  In other words, even though failure of lightning network would not be failure of bitcoin, but overall success of lighting network causes the Bitcoin network as a whole to become more valuable, as well as those lil tokens that we endearingly we refer to as corn.    

[HairyMaclairy]

But why? How is it being used?

It’s going to be a screamer once the exchanges get on board and allow lighting deposits and withdrawals.

[nutildah]

But why? How is it being used?

To learn how to use it. And to establish reputation for the future. Both of which imply a chance for passive income down the road.

There's really no such thing as "passive income." There's legitimate income and then there's income from scams, like MLMs and Ponzis. With investing and lending you still need to exercise extreme diligence in order to make a profit, so I wouldn't call those "passive" either.

The whole point of using Lightning is that its faster and cheaper than on-chain transactions. If you set your channel fee too high people will bypass it and you will make less income than you did by setting a low fee. If the cost of doing a lightning transaction supersedes that of an on-chain transaction, people will simply revert to transacting on-chain.

Also, its not overly simple to set up and maintain your own lightning node (though it is a lot easier today than it used to be). Maintaining a consistent internet connection, having to pay for that and the electricity of running your computer also need to be factored into the overall cost.

[Danslip]

A taxi accepting bitcoin in Barcelona.  The virus is spreading.  #bitcoin

Nice!

https://twitter.com/rivetacrypto/status/1105613744070164481?s=21

At least good news from South America. After Argentina now Brazil is ready for mass adoption. A virus is spreading faster than I expected.

[BTCMILLIONAIRE]

There's really no such thing as "passive income." There's legitimate income and then there's income from scams, like MLMs and Ponzis. With investing and lending you still need to exercise extreme diligence in order to make a profit, so I wouldn't call those "passive" either.

The whole point of using Lightning is that its faster and cheaper than on-chain transactions. If you set your channel fee too high people will bypass it and you will make less income than you did by setting a low fee. If the cost of doing a lightning transaction supersedes that of an on-chain transaction, people will simply revert to transacting on-chain.

Also, its not overly simple to set up and maintain your own lightning node (though it is a lot easier today than it used to be). Maintaining a consistent internet connection, having to pay for that and the electricity of running your computer also need to be factored into the overall cost.

I agree with you, BTCMILLIONAIRE, that lightning network is in a kind of practice stage, which means learning and building more tools and experimenting, and of course, if more and more tools are developed, then income opportunities will develop as well.

On the other hand, I doubt that such lightning network income is anywhere close to achieving passive income status (even though that does seem to be a reasonable long term goal).  The mere concept of "passive income" means that you earn money with little to no work, and from what I can tell, there are a lot of true believers involved in lightning network, and therefore, seem to be putting in way more work than what is likely to pay off for them on any kind of personal financial level.  In other words, even though failure of lightning network would not be failure of bitcoin, but overall success of lighting network causes the Bitcoin network as a whole to become more valuable, as well as those lil tokens that we endearingly we refer to as corn.    

While accurate, I would consider the part after the completion of my due diligence process at least mostly passive. Some re-evaluation might be prudent every so many weeks, months, years depending on maturity. But it's different from the rat race of trading or working.
Basically, you create a slope and a ball and then bring the ball up. Then watch the ball as it rolls down. But if you built an elevator all you'll have to do in the future is to put the ball in and press a button. At least for as long as the mechanics don't wear down. So while not 100% passive, for all practical purposes passive income exists if you're smart about it.


Also, as LN matures there will be ways to automate data collection and adjustments of fee structure. The ramp-up takes work, but in the long run it's mostly passive once the work has been put in. At least if you work towards making it passive. And yes, it's nowhere close to passive income and likely won't be for years. But the groundwork is being laid.

[VB1001]

LN worries me, the ship heels to centralize too much, or am I not distinguishing the future LN correctly?