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

[becoin]

Good news-it would mean unbelievable prices ahead (300K-500K)

You braindead, idiot scammers in this thread have NEVER once explained how the price of Bitcoin can go to $500k or even $50k while cost of production is $3-6k. 

The cost of production of $100 bill is $0.18. The cost of production of digital $ tokens is virtually zero, just a few key strokes on the keyboard. Well, who is the braindead idiot scammer in this thread?

[Saint-loup]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

[JayJuanGee]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

I am planning to be dead in about 3-5 decades (and that is being very charitable regarding my longevity)...

So, yeah, starting to cash out some in a few years might be a good plan.. .that way can enjoy some of it.. and spread it to some others.

[mersal]

Altcoins will disappear because bitcoin can do anything and they do not make sense. Only BSV will remain because this is the version of bitcoin with a large block that is needed

Just made me fell down while laughing at this.
via Imgflip Meme Generator

Its nothing but a sarcasm.

[vroom]

Btw Micg is emotional.... gotta pick up my queen in a few hours from now !!!!!

the 2 primary emotions of a man are hunger and horniness. 

[fillippone]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

I am planning to be dead in about 3-5 decades (and that is being very charitable regarding my longevity)...

So, yeah, starting to cash out some in a few years might be a good plan.. .that way can enjoy some of it.. and spread it to some others.

I saw a few studies of demographics of people entering bitcoin: young people in their 20’ s looking at crypto’s to invest their little savings: crypto can be to generation alpha (post 2000) what stock market has been to baby boomers.
Well your point is also interesting: early bitcoin adopters probably were in their 30’s. So their hodl won’t be indefinite, but they will start cashing out sooner or later. Also because they DO HODL massive amounts of Coins.

[El duderino_]

Btw Micg is emotional.... gotta pick up my queen in a few hours from now !!!!!

the 2 primary emotions of a man are hunger and horniness. 

Haha waiting at the AirPort as we write

2 emotions taking care of today

[JayJuanGee]

You think the present day power consumption of Bitcoin can increase by two orders of magnitude?  HAHAHAHAHA.

Over time the block rewards will decline and miners will also actually use less power but the cost for the hardware will probably be more of a factor than the cost of power at some point.   However when it comes to the amount of power that can be used ... considering that current world's power requirements could be handled with less than 120,000 sq km of solar panels ... at growth of 100x power use for bitcoin over the next 100 years won't be an issue.   Like metals, energy is actually in abundance, we just haven't had the technology in place to use it.   (120k sq km is about 0.024% of the earth's surface area, I just showing how little of our available power we actually use.  Solar is only one technology, fusion based power plants could exist 100 years from now.)  

A few years ago I really thought power would be a problem, but then I started doing some computations.   Energy isn't the issue, technology and politics are the issues.   However since bitcoin depends more on networks than location, politics can be bypassed.

Ok but I think nobody cares about the price in one century or even 2 or 3 decades. We are talking about the price in few years/months here.

I am planning to be dead in about 3-5 decades (and that is being very charitable regarding my longevity)...

So, yeah, starting to cash out some in a few years might be a good plan.. .that way can enjoy some of it.. and spread it to some others.

I saw a few studies of demographics of people entering bitcoin: young people in their 20’ s looking at crypto’s to invest their little savings: crypto can be to generation alpha (post 2000) what stock market has been to baby boomers.
Well your point is also interesting: early bitcoin adopters probably were in their 30’s. So their hodl won’t be indefinite, but they will start cashing out sooner or later. Also because they DO HODL massive amounts of Coins.

Depending on our level of confidence, we can cash out in large chunks or incrementally... like my plan to cash out 1% per quarter.

However, if I have some emergency issues, I might feel it necessary to cash out more.  My cashing out will probably not be price dependent because I have a lot of cushion; however, my opinion now could be changed if I become no longer an accumulator and maintainer, but instead someone who is either regularly cashing out with a kind of passive income or if I also chose to delve deeper into cashing out some of the principle, too.

In either event, I still consider my beginning any kind of cashing out, whether lighter or heavier, to be at minimum a few years away... and most likely would start out as a kind of light and incremental cashing out rather than the heavier possible cashing out variation.

[El duderino_]

via Imgflip Meme Generator

Sweet 7’s

[jbreher]

Does anyone want to have a local copy of this thread? I could compress all pages into a downloadable file, so you can search the raw HTML for old posts.

How big would that be? Put it in the BSV blockchain, they have gigabyte blocks. The only other thing there are weather stuff.

Don't mean to get technical on you all the sudden by I was looking into it the other day and as of right now its only possible to cram 100 KB of data into a single BSV transaction (or 4 JJG posts -- sorry JJG, you know I'm still a fan).

BSV has long had widely-distributed tools to split larger files into multiple txs, and concatenate them upon retrieval into original large files.

I would prefer my posts to not be broken up, otherwise they might be read out of context.  PLEASE tell craig.

I'm not in regular contact with Craig, so will be unable to pass along your request.

That said, these tools surrounding the SV protocol are standalone items created by unrelated individuals. So Craig is not involved in these. What's more, nChain is not involved. See, SV is a wonderously rich ecosystem of scads of unrelated parties all building atop Bitcoin.

Further, perhpas you missed where I clearly stated "... concatenate them upon retrieval into original large files"

[Cryptotourist]

Seriously jbreher, don't you ever get tired of this shit?

[Globb0]

Does anyone want to have a local copy of this thread? I could compress all pages into a downloadable file, so you can search the raw HTML for old posts.

How big would that be? Put it in the BSV blockchain, they have gigabyte blocks. The only other thing there are weather stuff.

Don't mean to get technical on you all the sudden by I was looking into it the other day and as of right now its only possible to cram 100 KB of data into a single BSV transaction (or 4 JJG posts -- sorry JJG, you know I'm still a fan).

BSV has long had widely-distributed tools to split larger files into multiple txs, and concatenate them upon retrieval into original large files.

I heard somewhere (I only come here lol) they also have backup servers to roll back any crap.

So might just be wasted money, unless maybe to demonstrate the centralisation (that no one doubts anyway)

[Globb0]

There's some comedy gold unfolding in the courtroom right now.

This lady has been doing an excellent job in live tweeting CSW's court case.

"Craig was very emotional and cried a couple times during the hearing"

https://twitter.com/KatieAnanina/status/1144649657710022658

"Some highlights:
Are you satoshi? - yes
Do you recognize this White Paper? - I wrote it
Why did you leave BTC and disassociated with Satoshi? - My invention was used for bad things *crying*.  They created #silkroad and #hydra. It was used to fund child pornography"

https://twitter.com/KatieAnanina/status/1144653512527273986

"I was ashamed of my invention"
-Craig S Wright
#faketoshi

https://twitter.com/KatieAnanina/status/1144660285283864576

"CSW just threw in the air a hard version of an exhibit. He is getting emotional😬"

https://twitter.com/KatieAnanina/status/1144664561196445696

"CSW keeps not answering questions regarding the exhibits and respond with a question back. Playing with words a lot. The judge announced 5 minutes break and advices Craig's lawyer to talk to her client about the way he answers questions."

https://twitter.com/KatieAnanina/status/1144666525237940225

Last tweet was 45 minutes ago... Maybe the court silenced tweeting... (if that's a thing)

Also, per another person in the court room, Craig said:

- he doesn't care about bitcoin
- to "save his soul," he's waiting for bitcoin to go really high so he can sell it to fund educational programs
- he doesn't have the BTC addresses because "Due to the way it was set up with the trust, Dave using anon sources to exclude Craig from knowing, as instructed by Craig."

Can they ask him why he said the other day about the first time he READ the whitepaper

[deepcolderwallet]

I swear to god [...] the same endgame in play if Trump wins a 2nd term here in the USA. (Good to have goals)

We'll be following the presidential run and your reaction...

[Globb0]

There is some evidence (or at least I read about it) that there are about 1 mil btc in the trust.
Not sure if it is correct or not, but if it is incorrect, then these Florida proceedings make no sense.

I for one have not read of one single thing that points to this trust existing in any form whatsoever. There's never been any indication that Satoshi's coins are anything but a  dormant mystery and no amount has ever been established.

I always presumed these proceedings made no sense from the start. It will dawn on everyone having their time wasted soon enough. Since it's civil I assume anyone can accuse anyone of anything as long as they have a bit of money to get rolling.

I thought it was around this whole CSW came and took a wallet file after Dave was dead ? whatever you do don't delete this file blah blah

[nutildah]

That said, these tools surrounding the SV protocol

Sorry, couldn't help myself. Its just what comes to mind.

Can they ask him why he said the other day about the first time he READ the whitepaper

I already know the answer he would give: it was a joke. Maybe it was, maybe it wasn't.

[erre]

You braindead, idiot scammers in this thread have NEVER once explained how the price of Bitcoin can go to $500k or even $50k while cost of production is $3-6k.  Nobody would ever buy a coin for $500k when they can simply mine one for $3-6k instead.  And mining CAN'T expand by an order of magnitude to drag cost of production up or it would use more power than the entire United States.  The crypto pump and dump scam seriously is butting up against the limits of the natural world now but that sure doesn't stop you scammers from posting complete bullshit 24 hours a day.

You are forgetting the reward halving, this alone can make the price double without any  extra power needed.

Also, miners can get more efficient in future and use wasted energy., Energy is largely wasted nowadays, because of using peaks (think about nuclear and hydroelectric i.e.)

As today a fast-growing price will only push miners to build more facilities and even turn on older machines until they are not profitable again, we have already seen it. Industry can still grow very fast, and energy is (for now and for the foreseeable future) not an issue at all.

[VB1001]

Btw Micg is emotional.... gotta pick up my queen in a few hours from now !!!!!

the 2 primary emotions of a man are hunger and horniness. 

Haha waiting at the AirPort as we write

2 emotions taking care of today

This weekend you will have a lot of work and you'll sleep a little.
You know, eat, drink,....

[fillippone]

It's time for a Wall Observer Meta Post!
Sorry to repeat the post, I didn't think I posted only hours before LoyceV updating his merit files.
I just wanted to do so because.. YES! I'm now Full Member on WO Thread!


What if WO were Bitcointalk?
So basically what happens considering only the merits awarded on WO thread?
How many Legendary Users?  How many Heroes?

Thanks to my very basic Data management Skill and LoyceV data, I manage to pull out the following very unuseful statistic:
OF course the heatwave over Europe prevented me on smartly compute WO activity, so I am basing on Merits only.

WO	Legendary	4
WO	Hero	6
WO	Sr. Member	13
WO	Member	35

Who's who on WO?

MERIT RECEIVERS:

Here the first 100 WO family members.

1	micgoossens	1660
2	Last of the V8s	1556
3	HairyMaclairy	1113
4	xhomerx10	1097
5	Toxic2040	891
6	BobLawblaw	847
7	jojo69	747
8	infofront	690
9	JayJuanGee	620
10	LFC_Bitcoin	545
11	Torque	490
12	d_eddie	480
13	bitserve	470
14	VB1001	377
15	Paashaas	358
16	gentlemand	343
17	kenzawak	330
18	Globb0	298
19	Elwar	293
20	cAPSLOCK	285
21	mindrust	276
22	mfort312	276
23	JimboToronto	263
24	BTCMILLIONAIRE	247
25	goldkingcoiner	247
26	Raja_MBZ	241
27	Rosewater Foundation	231
28	jbreher	220
29	kurious	219
30	ivomm	213
31	Biodom	211
32	Lambie Slayer	205
33	TERA2	194
34	realr0ach	192
35	Ibian	180
36	bones261	175
37	Phil_S	172
38	Kylapoiss	169
39	600watt	161
40	Icygreen	158
41	vroom	156
42	marcus_of_augustus	152
43	kingcolex	152
44	yefi	146
45	Hueristic	138
46	Wekkel	136
47	nutildah	130
48	toknormal	129
49	StartupAnalyst	128
50	JSRAW	123
51	Arriemoller	122
52	Anon136	121
53	Spaceman_Spiff_Original	116
54	Pamoldar	116
55	kirreev070	107
56	fillippone	106
57	Cryptotourist	105
58	BinaryReign	105
59	vapourminer	97
60	bitcoinPsycho	97
61	explorer	95
62	Bitcoinaire	93
63	AlcoHoDL	84
64	Cryptoqueeen	81
65	Searing	80
66	serveria.com	78
67	lightfoot	76
68	STT	71
69	cryptjh	68
70	Gyrsur	68
71	somac.	67
72	pacman7331	66
73	HI-TEC99	66
74	sirazimuth	65
75	Totscha	64
76	cannycassiopeia	64
77	BlindMayorBitcorn	64
78	conspirosphere.tk	63
79	Majormax	59
80	bitebits	58
81	crypmike	58
82	DeathAngel	58
83	nanobtc	57
84	Karartma1	56
85	suchmoon	55
86	strawbs	54
87	Samarkand	54
88	theymos	53
89	FractalUniverse	53
90	rolling	51
91	RayX12	50
92	RoomBot	48
93	encycrypto	48
94	fluidjax	48
95	Speculatoross	47
96	ErisDiscordia	47
97	fabiorem	46
98	BitcoinNewsMagazine	46
99	gembitz	46
100	thisisntbic	44

                              

EDIT:

TOP MERIT SENDERS:

1	JayJuanGee	2129
2	BobLawblaw	1813
3	micgoossens	1136
4	bones261	995
5	LFC_Bitcoin	990
6	infofront	952
7	Last of the V8s	760
8	Globb0	680
9	xhomerx10	673
10	jbreher	667
11	vapourminer	575
12	mindrust	567
13	HairyMaclairy	544
14	cAPSLOCK	537
15	marcus_of_augustus	502
16	600watt	481
17	Toxic2040	407
18	jojo69	366
19	Torque	339
20	Paashaas	315
21	QuestionAuthority	311
22	Hueristic	259
23	d_eddie	254
24	bitserve	245
25	yefi	240
26	BlindMayorBitcorn	209
27	Ibian	204
28	Wekkel	204
29	kurious	202
30	gentlemand	201
31	ErisDiscordia	198
32	bitebits	186
33	VB1001	183
34	RoomBot	180
35	kenzawak	179
36	Karartma1	174
37	Dabs	173
38	suchmoon	162
39	explorer	152
40	Raja_MBZ	147
41	Gyrsur	142
42	Dunkelheit667	137
43	mfort312	137
44	JimboToronto	137
45	BTCMILLIONAIRE	116
46	edgar	115
47	Pamoldar	114
48	Searing	111
49	goldkingcoiner	110
50	Rosewater Foundation	109
51	kingcolex	104
52	Lambie Slayer	101
53	ssmc2	100
54	Arriemoller	100
55	PoolMinor	99
56	Majormax	99
57	xyzzy099	97
58	ivomm	97
59	nutildah	92
60	tonyq	87
61	julian071	86
62	Biodom	83
63	P_Shep	82
64	conspirosphere.tk	82
65	Kylapoiss	80
66	Icygreen	76
67	RayX12	73
68	sirazimuth	73
69	fillippone	73
70	lightfoot	72
71	Elwar	71
72	criptix	71
73	Phil_S	69
74	vroom	68
75	DeathAngel	63
76	StartupAnalyst	58
77	JSRAW	56
78	Anon136	56
79	empowering	55
80	Cryptotourist	55
81	rolling	52
82	bitcoinPsycho	52
83	sammy007	50
84	Jayjay04	50
85	soullyG	49
86	FractalUniverse	48
87	STT	47
88	mymenace	46
89	MrFreeRoMan	45
90	AlexGR	43
91	Bitcoinaire	42
92	afbitcoins	40
93	Totscha	39
94	nanobtc	38
95	fabiorem	37
96	MirkoIta	36
97	crypmike	36
98	serveria.com	36
99	somac.	35
100	AlcoHoDL	34

                              


Summing up the TWO charts: Merit Balance calculated as Received Merits/2- Sent merits.

I think top20 and bottom 20 are relevant

TOP20

POS	Username	TO	FROM	BALANCE
1	TERA2	194	10	87
2	realr0ach	192	12	84
3	Elwar	293	71	75.5
4	Spaceman_Spiff_Original	116	13	45
5	Toxic2040	891	407	38.5
6	cannycassiopeia	64	1	31
7	pacman7331	66	6	27
8	kirreev070	107	28	25.5
9	cryptjh	68	9	25
10	BinaryReign	105	29	23.5
11	Biodom	211	83	22.5
12	D. Lerk	39	1	18.5
13	Last of the V8s	1556	760	18
14	Phil_S	172	69	17
15	Cryptoqueeen	81	24	16.5
16	goldkingcoiner	247	110	13.5
17	Samarkand	54	14	13
18	YourMother	36	5	13
19	HairyMaclairy	1113	544	12.5
20	hisslyness	26	1	12

BOTTOM 20:

POS	Username	TO	FROM	BALANCE
294	Dabs	44	173	-151
295	RoomBot	48	180	-156
296	bitebits	58	186	-157
297	yefi	146	240	-167
298	ErisDiscordia	47	198	-174.5
299	BlindMayorBitcorn	64	209	-177
300	Hueristic	138	259	-190
301	QuestionAuthority	27	311	-297.5
302	micgoossens	1660	1136	-306
303	cAPSLOCK	285	537	-394.5
304	600watt	161	481	-400.5
305	marcus_of_augustus	152	502	-426
306	mindrust	276	567	-429
307	vapourminer	97	575	-526.5
308	Globb0	298	680	-531
309	jbreher	220	667	-557
310	infofront	690	952	-607
311	LFC_Bitcoin	545	990	-717.5
312	bones261	175	995	-907.5
313	BobLawblaw	847	1813	-1389.5

                              
               
                        

[nutildah]

You braindead, idiot scammers in this thread have NEVER once explained how the price of Bitcoin can go to $500k or even $50k while cost of production is $3-6k.  Nobody would ever buy a coin for $500k when they can simply mine one for $3-6k instead.  And mining CAN'T expand by an order of magnitude to drag cost of production up or it would use more power than the entire United States.  The crypto pump and dump scam seriously is butting up against the limits of the natural world now but that sure doesn't stop you scammers from posting complete bullshit 24 hours a day.

You are forgetting the reward halving, this alone can make the price double without any  extra power needed.

Also, miners can get more efficient in future and use wasted energy., Energy is largely wasted nowadays, because of using peaks (think about nuclear and hydroelectric i.e.)

As today a fast-growing price will only push miners to build more facilities and even turn on older machines until they are not profitable again, we have already seen it. Industry can still grow very fast, and energy is (for now and for the foreseeable future) not an issue at all.

I have roach on ignore but would be happy to counter his misinformation in this instance. Bitcoin (per coin on average) costs anywhere between $1,300 and $37,400 to mine depending on where you are in the world. As you can see, mining is prohibitively expensive in much of the world (this is based on today's prices):



https://coinrate.com/cryptocurrency-mining-prices-and-profitability-by-country-in-realtime

And yes, not anybody can just start up their own mining operation to get "cheap coins." Most mining farms operate in the red for months or years before turning a profit -- they are invested in the long haul and weather unprofitable periods on the bet that the price of BTC will continue to increase in the future.

Besides, roach should know as well as anybody that the market dictates prices. This is what gives BTC - like any traded good in the world - its premium.