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

[jbreher]

We didn't miss it, we saw through it.
we are not so foolish as to fall for your tactics.

What 'tactics'? Expounding upon the truth as I see it?

[1714163846]

1714163846

[jbreher]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

[JayJuanGee]

Don’t you guys buy and replace? Each purchase paid with bitcoin I immediately buy back on an exchange. And add some extra just to be sure, so you could say I have more sats because I actually do pay in bitcoin from time to time.

In the day it was more magic money coming from the little mining thing.

Then it was earned money, and my philosophy that a business has to pay for itself, thus selling or using bitcoin to pay op expenses.

No regrets, just some laughs from time to time.

As we discussed several times previously, guys who are earning money in bitcoin or they are mining bitcoin are in a bit of  a different place than those who are earning money in dollars and having to buy their bitcoin.

So for those earning in bitcoin, it is way easier to sell bitcoin here and there along the way because you need to balance yourself, to have enough fiat to cover your fiat expenses (and other discretionary consumption), and it is likely just a regular activity to have to sell a certain amount of BTC on a regular basis (especially if you do not have enough fiat cashflow to cover your expenses and at least your prudent discretionary consumption).

You are devolving into emotionalism, yefi, and that might not be a good direction.

That's impossible, I'm a cold-blooded psychopath, and I dare anyone to protest otherwise.

I wouldn't doubt that.

 



You fuck... said under my breath.

[Hueristic]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

Reasons.

[Toxic2040]

I don't understand much about the cloud business, too much terminology for my liking. I tried translating kenkan, kijun, senkou, chikou before. Google told me it's Japanese.
I don't have anything interesting to say at current price levels, apart from the 2-month RSI pattern looks "cool". Not convinced how relevant this is though.



We are the resistance trend-line again, but still another 3 days before needing to make a decision.



There is a bull-cross of the 50 & 200 MA on the 4hr, that hasn't occurred for over 3 months. Probably relevant given how close these two were to crossing in recent months:



Kind of easy to be bullish right now for a number of reasons, as well as easy to make the case for being bearish simply for being at long-term resistance.

Its really quite simple in my opinion. It is just 5 inputs really...actually perhaps you could say 3 as the leading span A and B are predictive averages usually set 26 periods into the future. There is some debate on what 'settings' to use, for most its 9 26 52 26. Doubling these settings to 18 52 104 52 or perhaps 20 60 120 30 can induce interesting results as bitcoin trades 24/7 compared to the 8 hours most legacy markets use. The 20 60 120 30 setting is problematic as it skews the span B and base line inputs with unequal averages in my opinion. Still powerful on longer time frames it can be said however.

The key thing that you need to wrap your head around is the difference between moving averages and ichimoku. Where a simple moving average takes the closing price over a set period and adds them up and then divides by the set period, ichimoku takes that same set period and calculates the highs and the lows of the period and then divides by 2.

Here are some key terminology and the maths behind the curtain.

tenkan-sen or the conversion line = (9 period high + 9 period low)/2))

kijun-sen or the base line = (26 period high + 26 period low)/2))

chikou span or the lagging span = the closing price 26 days in the past

senkou span A or the leading span A = (conversion Line + Base Line)/2))

senkou span B or the leading span B = (52 period high + 52 period low)/2))

As each period closes it begins to 'paint' the cloud across the sky so all the animals have a place to dance.

#dyor

D

#stronghands


ps  many of us at the Wall are old, deaf and near blind...larger images are appreciated by many   

[Wekkel]

Or modern forum software. I can only read BCT on my iPhone (Chrome). On Android, the letters are just noise to my eyes, so small 

[Toxic2040]

Oh my...

https://cointelegraph.com/news/openai-bot-writes-a-blog-wows-bitcointalk-with-intelligent-posts

Except, Araoz wasn’t the one writing the blog. He hasn’t posted anything on bitcointalk.org’s forums for years —  and has nothing against its users. It was GPT-3 the whole time, he said...The bot’s predicted sentences were used for posts on the bitcointalk.org forum in recent days, leading to ‘positive’ feedback concluding “the system must have been intelligent".

jjg.exe confirmed   

+1 WOsMerit

[JayJuanGee]

Kind of easy to be bullish right now for a number of reasons, as well as easy to make the case for being bearish simply for being at long-term resistance.

Great idea regarding "both" ways, even though maybe finishing with our current UPpity momentum might be better before proceeding with DOWN.. in the event that down does end up taking place.

I tend to prefer UP before DOWN

rather than


DOWN before UP...



Even if it feels that we are ending up in the same place after the back-n-forth plays out.

[Hueristic]

Oh my...

https://cointelegraph.com/news/openai-bot-writes-a-blog-wows-bitcointalk-with-intelligent-posts

Except, Araoz wasn’t the one writing the blog. He hasn’t posted anything on bitcointalk.org’s forums for years —  and has nothing against its users. It was GPT-3 the whole time, he said...The bot’s predicted sentences were used for posts on the bitcointalk.org forum in recent days, leading to ‘positive’ feedback concluding “the system must have been intelligent".

Now for the fun part

I have a confession: I did not write the above article. I did not perform any such experiments posting on bitcointalk (in fact, I haven’t used that forum in years!). But I did it on my own blog! This article was fully written by GPT-3. Were you able to recognize it? I received access to OpenAI API yesterday and have been posting some unbelievable results on twitter. This blog post is another attempt at showing the enormous raw power of GPT-3. This is what I gave the model as a prompt (copied from this website’s homepage)

https://maraoz.com/2020/07/18/openai-gpt3/

[JayJuanGee]

AFAIC, as long as there are no exclusionary barriers for new entrants to participate, then non-mining validation is exactly as decentralized as it need be. More such 'decentralization' is a red herring that serves no useful purpose. I realize this is a controversial perspective, but it is the one I hold.

Controversial might be a bit of an understatement because I doubt that you are making such proclamations even genuinely, but it seems to be your flavor of the month distraction into making obscure nonsensical arguments that might make some sense on the surface, but really would not hold much if any water, if trying to actually play them out as a comprehensive approach to security, decentralization, immutability, competitive incentive creation and the various other bases that kingdaddy bitcoin covers, but neither of your bcash shitcoin imitation wannabes come even close to covering because they consist of teams of 100 each, give or take 97.  

Oh my...

https://cointelegraph.com/news/openai-bot-writes-a-blog-wows-bitcointalk-with-intelligent-posts

Except, Araoz wasn’t the one writing the blog. He hasn’t posted anything on bitcointalk.org’s forums for years —  and has nothing against its users. It was GPT-3 the whole time, he said...The bot’s predicted sentences were used for posts on the bitcointalk.org forum in recent days, leading to ‘positive’ feedback concluding “the system must have been intelligent".

jjg.exe confirmed    

+1 WOsMerit

If you don't watch it ToxicMoxic, I am going to send yefi after you.


This is an actual recent POV picture of yefi, before we made up. #nohomo


-1 WOsMerit

[Biodom]

Oh my...

https://cointelegraph.com/news/openai-bot-writes-a-blog-wows-bitcointalk-with-intelligent-posts

Except, Araoz wasn’t the one writing the blog. He hasn’t posted anything on bitcointalk.org’s forums for years —  and has nothing against its users. It was GPT-3 the whole time, he said...The bot’s predicted sentences were used for posts on the bitcointalk.org forum in recent days, leading to ‘positive’ feedback concluding “the system must have been intelligent".

Now for the fun part

I have a confession: I did not write the above article. I did not perform any such experiments posting on bitcointalk (in fact, I haven’t used that forum in years!). But I did it on my own blog! This article was fully written by GPT-3. Were you able to recognize it? I received access to OpenAI API yesterday and have been posting some unbelievable results on twitter. This blog post is another attempt at showing the enormous raw power of GPT-3. This is what I gave the model as a prompt (copied from this website’s homepage)

https://maraoz.com/2020/07/18/openai-gpt3/

who is to say that this "confession" was also not written by GPT-3?
...it's [GPT-3]s everywhere to horizon now  

[infofront]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

BSV's fate should be clear after the next major parabolic rise, I'm going to assume. It might be the preferred path for bitcoin hopefuls who jump ship from BTC if the blockchain becomes clogged again.

Or non-BTCers might prefer BCH. Or the BTC blockchain might not become clogged (2nd layer solutions). Or transaction fees will be sky high, but no one will care because their BTC will be worth $100K+, and no one cares about buying coffee with BTC anymore (BTC=digital gold narrative). I'm guessing those possibilities are all priced into the ~98% discount that BSV currently has against BTC.

[Toxic2040]

If you don't watch it ToxicMoxic, I am going to send yefi after you.


This is an actual recent POV picture of yefi, before we made up. #nohomo


-1 WOsMerit

I am sorry..your attempt at demeriting has failed due to a invalid checksum. We have initiated and completed a UASF that has rendered WOsMerits immutable. No more demerits. That is all.

[jbreher]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

Reasons.

Inability to articulate a cogent argument is duly noted.

[jbreher]

AFAIC, as long as there are no exclusionary barriers for new entrants to participate, then non-mining validation is exactly as decentralized as it need be. More such 'decentralization' is a red herring that serves no useful purpose. I realize this is a controversial perspective, but it is the one I hold.

Controversial might be a bit of an understatement because I doubt that you are making such proclamations even genuinely, but it seems to be your flavor of the month distraction

Nonsense. I've been consistent on the above point whenever consideration of such has entered the discussion.

[jbreher]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

BSV's fate should be clear after the next major parabolic rise, I'm going to assume. It might be the preferred path for bitcoin hopefuls who jump ship from BTC if the blockchain becomes clogged again.

That roughly is my thesis, yes. If the next wave of FOMO inrush gets forestalled because they can't take possession of actual BTC due to weeks-long tx times and can't afford it anyhow due to sky-high tx fees, what would anyone expect to happen?

If Blockalypse II comes and goes without a significant loss of BTC market dominance, I will reassess my thesis. I don't much anticipate the need to.

Or non-BTCers might prefer BCH.

BCH seems to have made serious inroads in commerce - mostly in Asia. Unfortunately, BCH movers-n-shakers seem bent on self destruction of competing featureitis wars.

Or the BTC blockchain might not become clogged (2nd layer solutions).

With more value locked up as wBTC on the Ethereum network than within LN, and with the gap widening by day, I don't believe any of us should look forward to that eventuality with glee.

Or transaction fees will be sky high, but no one will care because their BTC will be worth $100K+, and no one cares about buying coffee with BTC anymore (BTC=digital gold narrative).

If owning BTC is to be solely the domain of the rich, why are we endeavoring to limit its network's capacity limit to a $30 investment in HW?

I'm guessing those possibilities are all priced into the ~98% discount that BSV currently has against BTC.

Yup. Talk about an asymmetric bet fueled by knowledge asymmetry...

[Hueristic]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

Reasons.

Inability to articulate a cogent argument is duly noted.

Because....?

[jbreher]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

Reasons.

Inability to articulate a cogent argument is duly noted.

Because....?

Because you are engaging in nothing but dodging, ya ninny.

[Toxic2040]

Its remarkable how similar your pedantic drivel is to CSW little bear. Trying to sound like your smarter than everyone around you and a clinical inability to respond to simple questions or respond with a straight forward simple answer.  

Let alone being able to admit when your wrong. Almost but not quite feeling sorry for you.  smh  

[cAPSLOCK]

We are comfortable with different trade offs.  I think a distributed system with the least amount of trust possible is worth more than you do.

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

OK.  So how many transactions per second do you think is the minimum we should aim for?

5 doesn't scale... neither does 100.

How about 1 transaction per day for half of the people alive as a starting point?  (Still waaaay too small really)

That's (I am guessing) about 40k/sec.  Which would be what? 40Gbish blocks?

So Google and, Amazon and a handful of world governments will be who we trust to keep the blockchain??

It seems to me scaling the blockchain by making it bigger and keeping it safe from control and collusion is impossible.