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

[El duderino_]

Bitcoin block # 600,000 was just mined and there are now 18,000,000 bitcoins in circulation.

It will take approx 2.5 years to reach 19,000,000 and another 4 years to reach 20,000,000.

After that it's going to take more than 100 years to reach the 21,000,000 limit.

via Imgflip Meme Generator

https://twitter.com/cryptobull/status/1185345965068296192?s=21

[El duderino_]

#HODLsleep

[LUCKMCFLY]

The good thing is, it is not a monopoly who decides to coveneincia to be 21 million Bitcoin.

BREAKING: The 18th million Bitcoin was just mined in the last block of transactions.

There are only #3MillionLeft to mine in total and 375,000 to mine before the next block reward halving.

Source:@APompliano

[Negotiation]

https://www.blockchain.com/btc/block/00000000000000000007316856900e76b4f7a9139cfbfba89842c8d196cd5f91

The 18 millionth coin.

yeah, done bitcoin another milestone next 20 millionth waiting.

[jojo69]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

[HairyMaclairy]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

Are they?

Prices can go up, hash can become more efficient or hash rate can drop.  All remain options - and not mutually exclusive ones.

[HairyMaclairy]

Reposting this here because it deserves to be seen by the WO.

I know it's not really "art" but I was so impressed by DdmrDdmr's word cloud that I couldn't resist... this is based on the number of posts:

https://bitcointalk.org/index.php?topic=5193860.msg52794724#msg52794724

[JayJuanGee]

ok whatever fuck him

https://shitcoin.ninja/post/2019/10/comparing-bitcoin-investment-strategies/
although JJG summed it up already

I did?

I thought that I was merely battling out the matter with Biodom to suggest that conclusion is bullshit and to suggest for the vast majority of cases DCA rules - especially for less sophisticated investors, even though anyone can put in some work, research, thinking about their own financial circumstances and create more advanced versions of DCA..... or maybe a kind of DCA hybrid that is  prudent and customized to their own situation, or if they have a lot of money, then they have a lot more options including DCA or lump sum or whatever they like, but they will still be advantaged by doing some tailorizing fo their strategy, if they have time.

[rolling]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.

Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.

[Biodom]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.

Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.

It remains to be seen that this would work long term, although so far the adjustment of hashing to price fluctuation was impressive.
I worry a bit about mining concentration in the hands of the vertically integrated entities, like the recent P. Thiel venture.
It might cause further centralization and such centralization might cause undue re-consideration of bitcoin's rules (in time).

[rolling]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.

Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.

It remains to be seen that this would work long term, although so far the adjustment of hashing to price fluctuation was impressive.
I worry a bit about mining concentration in the hands of the vertically integrated entities, like the recent P. Thiel venture.
It might cause further centralization and such centralization might cause undue re-consideration of bitcoin's rules (in time).

If bitcoin is still mined worldwide by then, I doubt any changes to the rules would be possible. It would require consensus and the world I know can't get consensus on any topic. Therefore, the only way to change the rules is to fork off. That could happen many more times and the value will follow if there is a market for it.

I think big daddy Bitcoin will be just fine though.

[Biodom]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.

Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.

It remains to be seen that this would work long term, although so far the adjustment of hashing to price fluctuation was impressive.
I worry a bit about mining concentration in the hands of the vertically integrated entities, like the recent P. Thiel venture.
It might cause further centralization and such centralization might cause undue re-consideration of bitcoin's rules (in time).

If bitcoin is still mined worldwide by then, I doubt any changes to the rules would be possible. It would require consensus and the world I know can't get consensus on any topic. Therefore, the only way to change the rules is to fork off. That could happen many more times and the value will follow if there is a market for it.

I think big daddy Bitcoin will be just fine though.

Cheers.

[jojo69]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.

Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.

I get all that.  Allow me to flesh out my fears.

I see the possibility of many miners jumping to a new, well marketed and timed, coin at some future halving.  Were some other chain to have more hash power than BTC the specter of an attack would loom, further reinforcing the value proposition of the new coin.

[HairyMaclairy]

I sure hope Satoshi didn't blow it with the curve he chose.

Fees are going to have to, umm, increase, to incentivize miners.

No need to incetivize miners. It's a self-regulating system. If they can't make enough money, they will drop out which makes the remaining miners more profitable.

Also, fees may increase as well and small transactions will be squeezed out. This is ok. There is no reason to use the worlds most secure transaction network to buy a cup of coffee.

I get all that.  Allow me to flesh out my fears.

I see the possibility of many miners jumping to a new, well marketed and timed, coin at some future halving.  Were some other chain to have more hash power than BTC the specter of an attack would loom, further reinforcing the value proposition of the new coin.

Allow me to respond. 

Meh not going to happen

[jojo69]

Well I certainly hope not, still, the sharpness of the "knee" of this asymptote spooks me.

[HairyMaclairy]

Nah you can sleep at night.  We got a long ways to go before you need to start worrying.

[whiteboy420]

via Imgflip Meme Generator

 

is this instagram ?

don't make me add to my short.

Nah you can sleep at night.  We got a long ways to go before you need to start worrying.

ur certainty makes me uncomfortable.



The Bitcoin chart looks horrible.


Not only does the flag that followed the recent breakdown project a move to $6K, but we are close to completing the right shoulder of a head and shoulders top, with a $14K head, and neck line just below $8K, that projects a collapse to below $2K!

#BoomerTA is the only TA i fear.

[VB1001]

I compared basic regressions of log price ~ log time v log price ~ log sf using data prior to 2014 and full data. Stock to flow continues to be a *consistent* predictor. Times ability to predict, funnily enough changes with time. Stock to flow doesn't.

https://twitter.com/phraudsta/status/1185191801340084225


Max Supply 21,000,000
Extracted 18,000,000
Lost +/- 4,000,000

Every day there will be fewer opportunities.

[whiteboy420]

The U.S. Dollar Index closed a down week on the lows, while 30-year Treasury yields closed an up week near their highs.

The dollar and bonds falling in tandem is a good sign that the bubble has popped! 

[HairyMaclairy]

Chart still looks ok to me