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

[ivomm]

...

4/8 Thus, the “addresses w/ any balance” metric may overcount the total number of individual bitcoin users because many addresses can be associated with one individual.
https://twitter.com/intangiblecoins/status/1202950880334635020?s=20

5/8 On the other hand, many users keep their coin w/ custodians and exchanges, which may use single omnibus addresses to hold customer funds. In these cases, one address may actually represent many users, causing this metric to possibly undercount the total # of bitcoin users.
https://twitter.com/intangiblecoins/status/1202950881588719618?s=20

6/8 These two factors play against each other, and it’s extremely difficult, if not impossible, to determine the extent to which they offset each other.
https://twitter.com/intangiblecoins/status/1202950882880606208?s=20

I think it is safe to say that BTC owner is someone who owns the keys. At the moment  such person deposits ALL his BTC's on an exchange, he delivers the possesion to the exchange. Whether he sells them immediately or waits for better price does not make him BTC owner anymore. And if someone buys BTC's but keeps them on an exchange he is also not an owner. These people are traders who don't care what they trade, only care for the profit. Therefore, the number of BTC owners (real investors) is less than 28 mil. Provided that almost everyone has at least 2 addresses (and some more than 10), the real number is much smaller, probably below 14 mil. Compared with the Earth population and the 3 mil BTC's left to be mined, it is clear that the mass adoption has only just begun.

[Arriemoller]

Wow! A Model S and a Cybertruck in the same pic just outside a Tesla Store!
What the chance!?

If that's the production model cybertruck I ain't getting one.
Pretty sure that's someone pranking Tesla

[Last of the V8s]

Here begins the story of the hats?
This is the whole story or do you want to add more details?

Tell me more.

we were talking about hats earlier in the morning, which is why Hairy gives out a hat later in the day
i'd say it started here, but then i would. note rosewater's participation at that time( - miss him )
https://bitcointalk.org/index.php?topic=178336.msg46903843#msg46903843
https://bitcointalk.org/index.php?topic=178336.msg46908482#msg46908482

[Globb0]

11 = 3

[BitcoinGirl.Club]

I finally figured!
1 + 1 = WO 🤪

[VB1001]

Toxic2040 has also not been online for a long time (30 September 2019), I hope everything is fine.

[JayJuanGee]

Speaking of red trust here's one for the current WO turd fire.

Peter McCormack calling Richard Heart a scammer for Hex on his podcast. LOL
Richards knows it and can't even put on a poker face.
2 minute clip
https://twitter.com/american_hodl/status/1203093972312190976?s=19

Anyone familiar with some of my earlier posts, likely realizes that I am no fan of richard heart, so for sure I agree with Peter's overall assessment that Heart is a scammer, but jeez, I am not sure if their short conversation reflected worse upon Heart or worse upon Peter.  Sure, Peter said that he had not done any preparation for the conversation, and largely Richard had invited Peter to discuss the matter of the scam Hex project, and Peter said that he had done absolutely no preparations and had only intended to come on to the live feed and just call Richard a scammer.  That was Peter's intent, and he did not intend to back anything up beyond that.

Surely, Richard is decently good at debating in terms of doing his homework (or at least having prepared several talking points that attempt to cause him to appear to be way the fuck more objective than he really is), and the 2-minute clip did cause me to go and look at the original longer interview, which is the full discussion between Richard and Peter, that lasts about 20 minutes.  That full YouTube video is linked through Richard Heart's page or something like that, if I recall correctly.

When looking at the full video, after Peter is no longer on the call, Richard continues with his live stream and attempts to contextualize and clarify the interaction with Peter... in which Peter is just calling Richard a scammer over and over and over with little to no further substance.  

I was partly drawn into Richard's further monologue following the discussion with Peter because I wanted to see how Richard was going to continue to contextualize their conversation and then go onto recovering from the earlier discussion.
 There is some ease in which Richard was able to do that because Peter did not give many difficult reasonings or background to back up his overly asserted repeated conclusions that Richard is a scammer.  

The whole stream of Richard's longer monologue that followed his discussion with Peter is something like 2.5 hours, and I was lulled a bit into watching and listening to Richard's nonsensical monologue for a bit over an hour and a half before I could not take it any longer.  

It is like self-abuse, I suppose, to tolerate listening to that guy and his various spinning efforts which ends up devolving into many times proclaiming regarding how wonderful HEX is and how it is nearly guaranteed to make you rich (even though there are no guarantees)... oh fuck, gawd, give me back my wasted time listening to his nonsense... but o.k.... I am a glutten for punishment, sometimes... or caught me in the right mood to tolerate or something?

[golden-dragon]

On-chain momentum is crossing into bullish!

https://twitter.com/woonomic/status/1203280379479830528

[Hyperjacked]

Wow! A Model S and a Cybertruck in the same pic just outside a Tesla Store!
What the chance!?

Rotflmao 😂 cardboard panels with duck tape and spray paint! Dang we can all have one... love it

Word on the street is it’s the bargain boyz

[jojo69]

Toxic2040 has also not been online for a long time (30 September 2019), I hope everything is fine.

Also unresponsive to sidechannel comms.

I miss him, but I'm not actually terribly worried about his safety; he could be moody at times, I'm hoping he just had it up to here with us for now.


Speaking of which, I'm dropping carrier for a bit of network refit here, hope to be back on in a couple hours.

[makrospex]

Wow! A Model S and a Cybertruck in the same pic just outside a Tesla Store!
What the chance!?

Rotflmao 😂 cardboard panels with duck tape and spray paint! Dang we can all have one... love it

Word on the street is it’s the bargain boyz

this is crying for a cybertruck cardboard body kit!

Just like these...

[infofront]

Toxic2040 has also not been online for a long time (30 September 2019), I hope everything is fine.

Also unresponsive to sidechannel comms.

I miss him, but I'm not actually terribly worried about his safety; he could be moody at times, I'm hoping he just had it up to here with us for now.


Speaking of which, I'm dropping carrier for a bit of network refit here, hope to be back on in a couple hours.

He was feeling burned out on Bitcoin, TA, and the WO. I'm sure we all know the feeling. I think he'll be back.

[xhomerx10]

Toxic2040 has also not been online for a long time (30 September 2019), I hope everything is fine.

Also unresponsive to sidechannel comms.

I miss him, but I'm not actually terribly worried about his safety; he could be moody at times, I'm hoping he just had it up to here with us for now.


Speaking of which, I'm dropping carrier for a bit of network refit here, hope to be back on in a couple hours.

He was feeling burned out on Bitcoin, TA, and the WO. I'm sure we all know the feeling. I think he'll be back.

 We'll be watching for him.
 

[JayJuanGee]

...

4/8 Thus, the “addresses w/ any balance” metric may overcount the total number of individual bitcoin users because many addresses can be associated with one individual.
https://twitter.com/intangiblecoins/status/1202950880334635020?s=20

5/8 On the other hand, many users keep their coin w/ custodians and exchanges, which may use single omnibus addresses to hold customer funds. In these cases, one address may actually represent many users, causing this metric to possibly undercount the total # of bitcoin users.
https://twitter.com/intangiblecoins/status/1202950881588719618?s=20

6/8 These two factors play against each other, and it’s extremely difficult, if not impossible, to determine the extent to which they offset each other.
https://twitter.com/intangiblecoins/status/1202950882880606208?s=20

I think it is safe to say that BTC owner is someone who owns the keys. At the moment  such person deposits ALL his BTC's on an exchange, he delivers the possesion to the exchange. Whether he sells them immediately or waits for better price does not make him BTC owner anymore. And if someone buys BTC's but keeps them on an exchange he is also not an owner. These people are traders who don't care what they trade, only care for the profit. Therefore, the number of BTC owners (real investors) is less than 28 mil. Provided that almost everyone has at least 2 addresses (and some more than 10), the real number is much smaller, probably below 14 mil. Compared with the Earth population and the 3 mil BTC's left to be mined, it is clear that the mass adoption has only just begun.

You seem to have a perverted way of taking not your keys not your coins to an extreme, ivomm.

Of course, if custodians have bitcoin keys they can brute-forcedly fuck peeps out of their coins, whether by hook or by crook or by accident.  But having a claim to coins rather than holding actual coins does not mean that those people with claims to coins are not bitcoin holders, even though they personally are not holding the keys.

Get real.   Think about it.  Don't be giving any license to coin custodians to believe that they own the coins under their control, and custodians still have fiduciary obligations, even if they get a lot of leeway in their legal rights and even their historical corrupt practices and abuse in that direction.

If people had absolutely no faith in institutions custodying their value (whether bitcoin or otherwise), we would have a lot of fucked up situations and likely be in a kind of stone age that lacks in finances and money and inferior systems that involve trading cows and chickens, etc etc.

So, anyhow, there may be some bitcoin wallets that custody the bitcoins of thousands or even millions of users, and of course, most exchanges are going to engage in some dividing of the assets under management, so institutions might also have some addresses that hold a large number of bitcoins and other wallets with smaller amounts of bitcoins and in the end, there are real people and real institutions that have valid and legit claims to those coins under management..even if their claim has legally (and reality) inferior status than the coin of someone who is actually holding his/her/its own coins and private keys.

[El duderino_]

via Imgflip Meme Generator

Cheers and have a good Saturday WO’s

[El duderino_]

@JJG, have a break it’s Saturday!

[arklan]

hi guys. back from the proverbial dead...

still ticking along like always i see.

[Paashaas]

Anthony Joshua vs Andy Ruiz rematch

[Wekkel]

hi guys. back from the proverbial dead...

still ticking along like always i see.

Welcome back. Still the same shitshow  

[arklan]

hi guys. back from the proverbial dead...

still ticking along like always i see.

Welcome back. Still the same shitshow  

insert various "mild shock" memes here.

i fear to tread anywhere near the politics and society section, knowing how BTC draws a... dramatic and wide variety of people and how.... volatile... times seem to be, in some ways.