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

[machasm]

On the subject of halving and diff changes.
Was there a specific reason Bitcoin was designed to reduce its emission rate in this fashion with these abrupt steps every 4 years or so?
Would it have been better to have designed it in such a way that the reduction was done at a much slower pace, say an almost imperceptible amount per block? So that over the four years the amount is still halved but instead of in one go, over the course of the entire 4 year period?

sounds to me like you are now qualified to start up your own alt coin

Just asking a perfectly innocent question.
I know there has been a lot of bitching over different alts such as BCH et al but was just curious if there was a deliberate reason for doing it this way.
Makes no difference to me as I only HODL BTC.

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[jbreher]

On the subject of halving and diff changes.
Was there a specific reason Bitcoin was designed to reduce its emission rate in this fashion with these abrupt steps every 4 years or so?
Would it have been better to have designed it in such a way that the reduction was done at a much slower pace, say an almost imperceptible amount per block? So that over the four years the amount is still halved but instead of in one go, over the course of the entire 4 year period?

Yeah, I openly mused upon this too — back in like 2011.

Proper answer: it is what it is. Such ponderation be fruitless.

[Febo]

An interesting fact to consider ..

Number of Bitcoin transactions was keep decreasing from June last year. It went from 10,486,006 to 8,702,021 the last month. That is over 15% drop.  People start use Bitcoin only when price is higher. So now that price is heading close to $10000 number of transactions increased. Considering half of month for this month 9,660,885 transactions is predicted.

[Last of the V8s]

so the miners could plan properly

[OutOfMemory]

Now, let me explain to all of you why the Swedish government is not closing down society and quarantining people/closing of areas.

This is a little known fact outside Sweden, and it rarely comes up in the debate.
Neither the Swedish government nor the Swedish parliament has the authority to do that.
The Swedish constitution guarantees all citizens the right to free movement in peacetime, no exceptions but one, people with a dangerous contagious disease can be forcefully quarantined according to the contagious disease act. But that only applies to specific individuals.
And there is no such thing as marshal law in Sweden, not allowed by the constitution.

So, no matter how much people or other countries bitch about Swedens way of handling the crisis, nothing is going to change.
You can change the constitution, but that reacquires two parliament votes with one general election in between.
We might se a change in the wording in the constitution from just "wartime" to "war and pandemics" or something like that, but no such change has been suggested yet.

That's actually an upcoming debate in AT as well, because many of the Covid19 laws that passed parliament are not backed by the constitution.
I'm already imagine myself buying loads of popcorn for the next weeks and months.
They even discussed the mandatory install of an app on everybody's smartphone that tracks social contacts. A gps/nfc keychain badge was brought up as an idea for cellphone users and people without smartphones (i'd combine such a device with a microwave oven  ).
There are still ideologic traces of nazi embedded in the austrian culture. Counselor got support of about 50% of the people. Surrounded by morons, i'm telling you!

[machasm]

so the miners could plan properly

Thanks V8 and jbreher
Wasnt trying to stir anyhting up.

[jojo69]

so the miners could plan properly

Thanks V8 and jbreher
Wasnt trying to stir anyhting up.

I was just giving you shit man

[Biodom]

A well known dude (@Davinci) is selling the house to buy bitcoin with proceeds (surprisingly, wifey is on board, apparently).
https://twitter.com/Davincij15/status/1260243620956954624

Reactions? A timely move or not? To me, maybe too much risk inasmuch as having a shelter has more meaning than just an investment. In fact, I never thought about the house as an investment, but more like as a place to live without getting bothered by a greedy landlord.

[Last of the V8s]

no worries mate
4 years is perfect so you can tickle up your bank manager, keep some profits from year 4
satoshi baked in a business cycle

meanwhile, swerve those alts fellas

[OutOfMemory]

The lack of testing of workers in hospital and nursing/elderly homes has made the virus spread uncontrollably among our most vulnerable people.

Myself is utterly disgusted how Swedish authorities has handled this pandemic so far.

I don't quite understand your "disgust". The difference between Sweden and its neighbouring Nordic countries is almost insignificant in terms of mortality. Meanwhile the difference between Sweden and the big "lockdown" countries is very large - especially given that it's in the "wrong" direction if you hypothesise that the lockdowns are effective.

How do you explain this ?

Many differencies, of which i'd look at population density, culture (handshakers and huggers vs. vocal greeters), amount of population living in densely populated cities, education (in regard to San Marino)... Quite complex, you probably can't explain these differences using simple, singular arguments.

[LUCKMCFLY]

According to the story, it always aims bullish, this time it looks the same ...

Cycle low multiple

It is going to be interesting to see which way we are going to go ~50 days after halving.

LIVE: https://digitalik.net/btc/cycle_low_multiple/

Source: https://twitter.com/digitalikNet/status/1262064635550859266

[Ibian]

So I scribbled something elsewhere on the net in reply to narcissism as seen by Freud and Jung, just gonna leave it here in case anyone happens to find it interesting. I dismiss them both as uninteresting in favor of looking at how the brain works on a biological level, under the assumption that the theory of evolution is correct.

I go by the triune brain theory.

The oldest part of the brain handles all the fundamental functions required for animals to survive and reproduce. Breathing, hormone balance, fear and not fear, all the basic automatic stuff.

The middle part of the brain is the mammal brain, or subconscious, or limbic system, or emotional part. It is the part of the brain that makes us human, that makes us distinct from other animals. It is constantly active and always scanning the environment. It is the part that is in use when we say we did something on autopilot.

The third and youngest part of the brain is the logical part. This is the part we use to puzzle out solutions to problems and to learn. However it is highly inefficient. Depending how it is measured, the subconscious part is hundreds of thousands of times faster, and it uses a lot of energy. This is why most people don't like to think, and invest enormous emotional energy in avoiding it. Even when they know it will hurt them in the long run.

So far as narcissism is connected to the above, they do not tend to use the thinking part of the brain much. Instead they are relying on the automatic instincts and behavioral patterns that we used in tribal, pre-historic times. This is obviously in conflict with modern norms, which is why non-narcissists have an intense dislike against them. Their behavior is undermining what we call civilization.

[Last of the V8s]

what utter bollocks again Ibian.
the 'hats upon hats' theory won't wash even here

[toknormal]

The lack of testing of workers in hospital and nursing/elderly homes has made the virus spread uncontrollably among our most vulnerable people.

Myself is utterly disgusted how Swedish authorities has handled this pandemic so far.

I don't quite understand your "disgust". The difference between Sweden and its neighbouring Nordic countries is almost insignificant in terms of mortality. Meanwhile the difference between Sweden and the big "lockdown" countries is very large - especially given that it's in the "wrong" direction if you hypothesise that the lockdowns are effective.

How do you explain this ?

Many differencies, of which i'd look at population density, culture (handshakers and huggers vs. vocal greeters), amount of population living in densely populated cities, education (in regard to San Marino)... Quite complex, you probably can't explain these differences using simple, singular arguments.

The studies on transmission are very clear. None of the things you cite feature significantly at an aggregate level. Transmission occurs predominantly indoors with sustained contact. (Which would explain why the "lockdown" countries are experiencing such high rates of transmission compared to the "non-lockdown" countries).

[Ibian]

We need a treatment for covid-19 else after 50 years people will be talking and complaining that people in 2020 were so backwards that they can't even develop a vaccine.  

Lots of people dying is legit why we are alive today. Only the healthiest people survived, and we have many, many sick people today.

[Ibian]

what utter bollocks again Ibian.
the 'hats upon hats' theory won't wash even here

Do you have any specific points of criticism?

[Biodom]

what utter bollocks again Ibian.
the 'hats upon hats' theory won't wash even here

Do you have any specific points of criticism?

1. Limbic system is a part of all mammals brain, it does not "make us human" and does not make us 'distinct from other animals' as long as you are talking about mammals.
2. Logical part? You mean cortex and neocortex. Many other animals have cortex and dolphins have higher amount of neocortex vs humans.
3. A bit more study of anatomy and physiology would have helped.

[windjc]

The lack of testing of workers in hospital and nursing/elderly homes has made the virus spread uncontrollably among our most vulnerable people.

Myself is utterly disgusted how Swedish authorities has handled this pandemic so far.

I don't quite understand your "disgust". The difference between Sweden and its neighbouring Nordic countries is almost insignificant in terms of mortality. Meanwhile the difference between Sweden and the big "lockdown" countries is very large - especially given that it's in the "wrong" direction if you hypothesise that the lockdowns are effective.

How do you explain this ?

Many differencies, of which i'd look at population density, culture (handshakers and huggers vs. vocal greeters), amount of population living in densely populated cities, education (in regard to San Marino)... Quite complex, you probably can't explain these differences using simple, singular arguments.

The studies on transmission are very clear. None of the things you cite feature significantly at an aggregate level. Transmission occurs predominantly indoors with sustained contact. (Which would explain why the "lockdown" countries are experiencing such high rates of transmission compared to the "non-lockdown" countries).

LOLOLOLOLOLOLOL. No. Sweden has an extremely large number of people who live by themselves. Italy has an extremely large # of people who live with many family members.

Do you ACTUALLY think if you go OUT more you will not get it from your family or roommates?

The REASON most transmission right now happens at home is because transmission can't happen in public very well without gatherings. Otherwise transmission at home would be a MUCH lower %.

How are these basic concepts hard to grasp??

BTW, "sustained contact" is <2 hours. Its why restaurants and parties and nursing homes are such hotbeds for the spread.

[Ibian]

On the subject of halving and diff changes.
Was there a specific reason Bitcoin was designed to reduce its emission rate in this fashion with these abrupt steps every 4 years or so?
Would it have been better to have designed it in such a way that the reduction was done at a much slower pace, say an almost imperceptible amount per block? So that over the four years the amount is still halved but instead of in one go, over the course of the entire 4 year period?

Gradual shifts would not have created hype. It's all intentional.

[toknormal]

LOLOLOLOLOLOLOL. No. Sweden has an extremely large number of people who live by themselves. Italy has an extremely large # of people who live with many family members.

I'm sorry, science doesn't work like this. You take the statistics at face value to begin with and then if there's some extreme mitigating circumstance then maybe you can say that that's the rule rather than the exception. The statistics in this case are very clear - that the lockdowns countries are all top of the league when it comes to relative mortality (i.e. mortality corrected for population).