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

[LFC_Bitcoin]

Damn these boating accidents are happening all the time



@btcvalgardena
I can’t believe it... I just dropped my hardware wallet in the Croatian sea and lost all my Bitcoins 😑

[philipma1957]

An interesting question just popped in my mind:
How much kWh was used to create the current Blockchain?
Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.

https://twitter.com/blockbain/status/1305539345991036933



a fair few

This is actually what matters. Energy spent and not hash power as so many take as main metric of how secure bitcoin network is. Hash power keep increasing because better and better ASIC miners gets built. But if energy put into securing Bitcoin network stays same that means that no matter how high hash power will go the network is same secure as before. The main problem is what also is said in the tweet. These numbers are just his estimations. It is much easier find a hash power number then to calculate energy spent.  Actually even better metric would be money spent to pay electricity spent for mining. Perfect but even harder to get metric.

Yeah except he is too high. he has 96,029,700 mega watts per 2020 year that would be 263,095 mega watts per day or 10,962 megawatts an hour.

my 2020 hourly estimate was about 7100 megawatts on the high side based on 50 watt per th gear.
my 2020 hourly estimate was about 5670 megawatts on the low side. based on 40 watt per th gear.

he used  70-75  watt per th gear  and I do not think that is accurate

still whether we use 5,700 mega watts an hour
or 7,100 megawatts an hour ------ my best guess for now

or 10,900 megawatts an hour

it is a lot of energy per hour.

[nullius]

Damn these boating accidents are happening all the time


@btcvalgardena
I can’t believe it... I just dropped my hardware wallet in the Croatian sea and lost all my Bitcoins 😑

With transparent blockchains, if the coins that you own can be traced to you, then it can later be observed if they move.  Publicly observed.  By anyone in the world who wants to watch.  (And if the coins cannot be traced to you, then this discussion is irrelevant.)  Lying about losses in any kind of an official context could usually result in hard prison time.  Lost coins are permanently unspendable; “lost” coins do not exist in Bitcoinland.

If you are susceptible to boating accidents, it would be tragic to HoDL a privacy coin.  Why, if you lose your keys, you cannot even provide your view keys on demand!  Such loss.

Code:

incoming_transfers available uses
sweep_all [...rinse, repeat at random times...]

Not necessary with That Other Privacy Coin.

Bitcoiners have less to fear from boating accidents, and more to fear from getting hacked.  It is scary that your Microsoft Windows® machine is just one careless e-mail attachment click away from scrambling all of your data, and sending all of your money to heinous criminals who know how to make money disappear.  Don’t you wish that you had bought a hardware wallet?  Such grief!

Losing all that you own is very stressful.  Stress is bad for human memory (which is one of many reasons why you should not rely on long-term memorization of seed phrases or high-entropy passphrases with no backups—not for anything important to avoid losing!).  It only compounds the tragedy when traumatic stress makes it difficult even to remember exactly what you lost, and what you were doing with it right before you lost it.

[JimboToronto]

Bitcoiners have less to fear from boating accidents, and more to fear from getting hacked.  It is scary that your Microsoft Windows®,Apple®, Android or Linux machine is just one careless e-mail attachment click away from scrambling all of your data, and sending all of your money to heinous criminals who know how to make money disappear.  Don’t you wish that you had bought a hardware wallet created offline cold storage addresses?  Such grief!

ftfy

[Toxic2040]

ftfy

+1 WOsMerit



------

[LFC_Bitcoin]

Lol @ the thread title change.

Oh look, mini pump being observed. Wonder if we’ll breach $11,000 overnight.

[xhomerx10]

An interesting question just popped in my mind:
How much kWh was used to create the current Blockchain?
Should be somehow possible to calculate it based on the given mining hardware and mining difficulty.

https://twitter.com/blockbain/status/1305539345991036933



a fair few

This is actually what matters. Energy spent and not hash power as so many take as main metric of how secure bitcoin network is. Hash power keep increasing because better and better ASIC miners gets built. But if energy put into securing Bitcoin network stays same that means that no matter how high hash power will go the network is same secure as before. The main problem is what also is said in the tweet. These numbers are just his estimations. It is much easier find a hash power number then to calculate energy spent.  Actually even better metric would be money spent to pay electricity spent for mining. Perfect but even harder to get metric.

Yeah except he is too high. he has 96,029,700 mega watts per 2020 year that would be 263,095 mega watts per day or 10,962 megawatts an hour.

my 2020 hourly estimate was about 7100 megawatts on the high side based on 50 watt per th gear.
my 2020 hourly estimate was about 5670 megawatts on the low side. based on 40 watt per th gear.

he used  70-75  watt per th gear  and I do not think that is accurate

still whether we use 5,700 mega watts an hour
or 7,100 megawatts an hour ------ my best guess for now

or 10,900 megawatts an hour

it is a lot of energy per hour.

 I think you've misunderstood.  He said:

'That’s cumulative up until ~ right now. Highest yearly value was 2019 @ 29.33 TWh (half my estimate from last year because it’s a minimum bound) - this year will end up being more though once finished, 2020 YTD @ 27.59 TWh. Usage appearing to stabilize, maybe eventually drop.'

  The 96,029,700 MWh you quote is the total amount of energy since the inception of Bitcoin.  His estimate for 2020 so far is 27.59 TWh which translates to 3185 MegaWatts which is actually at the lower bound according to Cambridge estimates - https://www.cbeci.org/

[El duderino_]

Lol @ the thread title change.

Oh look, mini pump being observed. Wonder if we’ll breach $11,000 overnight.

We will

#positanoHODLsleep

Cheers

[Indymoney]

[BobLawblaw]

Nice one.
I am a massive gay!

Hello there. I, too, am a massive gay!

Nice to meet you.

[philipma1957]

Nice one.
I am a massive gay!

Hello there. I, too, am a massive gay!

Nice to meet you.

I am an average Heterosexual.

Boring as it is.

[smartcomet]

Venus Might Host Life, New Discovery Suggests
The unexpected atmospheric detection of phosphine, a smelly gas made by microbes on Earth, could spark a revolution in astrobiology

[Toxic2040]

the evening wall report

#dyor
4h


D

#stronghands

[HI-TEC99]

Venus Might Host Life, New Discovery Suggests
The unexpected atmospheric detection of phosphine, a smelly gas made by microbes on Earth, could spark a revolution in astrobiology

Aliens smell like farts.

https://www.popularmechanics.com/space/deep-space/a29932234/what-would-aliens-smell-like/

...Which led my son to one inescapable conclusion: If aliens exist, they probably smell like farts.

I don’t know enough about farts, Mars, or aliens to refute him, so I reached out to somebody who does: Clara Sousa-Silva, a molecular astrophysics postdoctoral associate at MIT.

“Your son is absolutely correct in his inference,” she told me. “Most of my work in astrobiology looks at anaerobic environments, which have a lot in common with the environments that produce farts. So, yes, aliens are reasonably likely to smell like farts.”

[JayJuanGee]

$11200 incoming. today? now?

You blew it for us, man.

Can't rush these things. Gotta let 'em organically happen.

Next 24 hours, blah etc penis.

Yes @BobLawblaw accurately don't go rush but definitely $11200 incoming next few days.

How can you know beyond 50-60% estimations, at best?  Unless you are a pretty BIG whale, and even whales might not really be able to know with a lot of certainty - except knowing that they have x number of bitcoins and y amount of cash strategically placed in various locations where x might be in the arena of 10k to 30k coins and y might be similar equivalents in cash such as $100million to $400million.**

**Would my hypothetical numbers be enough to constitute a whale?  Maybe a small sized one?  or a bare minimum entry-level whale?  I hypothesize that if a baby whale strategically places some value, then such whale could get the BTC price to move with relatively low amounts of liquidity - but being able to sustain any kind of BTC price movement probably takes quite a bit more than baby whale levels of value.. maybe 10x more value than my hypothetical entry-level whale?  

[JayJuanGee]

Chaum did go way off the rails with his previous shitcoin, elixir or something. This would need to be whole rafts better, and it's low on my todo list.

I did listen to that Laura Shin interview between Chaum and Back (that you linked in your earlier post, V8) about a month ago when it first came out, and surely Chaum comes off as a bit disgruntled, self-absorbed and just emotionally unstable - maybe in spite of some of his prior contributions to cryptography, he just seems to want to get way the fuck more credit than he likely deserves (not saying that I even understand half the shit, but still - lack of graciousness can sometimes be a bit irritating and draining).

I recall even parts of the interview that Chaum was going to get off the interview because he did not feel that he was being treated fairly... blah blah blah.. and then he stayed on because both shin and back stayed sufficiently non confrontational and even giving chaum credit from time to time..

And, yeah, Chaum has turned into a bit of a shitcoiner, fails and refuses to give bitcoin proper credit, and I don't even know if Chaum is merely biased by his other projects or he just fails and refuses to even attempt to be a team player, unless he is getting the amount of credit that he feels that he needs (which is likely more than he deserves - surely not a humble bumble.. even though, granted, he likely continues to be pretty smart about a lot of the technical underpinnings to the extent that he attempts to listen to anyone else).

Based on my parental settings, my router blocked it as porn. 

unusual behavior, my security setting send all porn to my 1,700 tb raid 10 array and then AI tries to sort them into redheads, blonds, number of persons, how many are upside down and other such important parameters.

purely for convince convenience its so hard to search that stuff nowadays.

FTFY

Surely, vapourminer, you are my kind of they.^tm   

[OROBTC]

https://twitter.com/JamesGRickards/status/1306055964211191814?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1306055964211191814%7Ctwgr%5Eshare_3&ref_url=https%3A%2F%2Ftheconservativetreehouse.com%2F2020%2F09%2F15%2Fwow-chinese-virologist-dr-li-meng-yan-blows-whistle-on-china-manufacturing-covid-19%2F

 

[explorer]

https://twitter.com/JamesGRickards/status/1306055964211191814?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1306055964211191814%7Ctwgr%5Eshare_3&ref_url=https%3A%2F%2Ftheconservativetreehouse.com%2F2020%2F09%2F15%2Fwow-chinese-virologist-dr-li-meng-yan-blows-whistle-on-china-manufacturing-covid-19%2F

 

That's great, but a trust fund full of fluffy paper is worth less every day.  Circus.

[JayJuanGee]

MicroStrategy did it again. they bought another 14k btc for $175mil.

they own 38250 btc now.

Michael Saylor is savage.

https://twitter.com/michael_saylor/status/1305850568531947520?s=21

My only question is why did they wait this long? Why weren't they buying this amount of bitcoin at a fraction of today's price back in 2013? Surely they knew about it then, they are an IT company.

Yeah, my thoughts exactly.

At one time you could have those coins for the price of 8 pizzas, and have a piece left for next morning...

Better late than never, though. Also applies to many of us, unfortunately.

It does seem a bit much, and perhaps sudden, but Saylor did seem  to have a change of heart (and thinking) over the years, and probably the money printer go bbbbbrrrrrr response to the virus had a pretty BIG impact on his thinking - but yeah, you would have thought that he would have figured it out sooner.

Also, even if Saylor may have been investing some of his personal assets in bitcoin on a more moderate and earlier basis, there may have been some reservations in terms of getting the company on board and making sure that the major investors were on board with such a bold approach, including a bold accompanying statement that went along with the first purchase in August.

[El duderino_]

S2F version 1 update. This is the 2019 time series model on historical BTC data only (no gold, silver, diamonds, real estate data used). You see the jump in model value at the halving (white line) and corresponding drop in S2F multiple / model error (white dots). Time to go up.

https://twitter.com/100trillionusd/status/1305417666874806272?s=21