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

[Biodom]

Actually i am loving this dump.  This is the BEST case scenario.  Ripple is the pin that slaughters the alts.  A few alt projects will survive.  ANY of them that look even a little like a security are gonna get killed.

Bitcoin basically holds.  Dominance goes wild.

Edit.. Wow.. the more I look at this the more beautiful it is.

You could be right and several are down 25-35%.
Still, today they come for them and tomorrow...?
Regardless of the merits, I still think that it is not appropriate to spend 8 years twiddling their thumbs and THEN coming up with something.

[1714227579]

1714227579

[1714227579]

1714227579

[philipma1957]

Actually i am loving this dump.  This is the BEST case scenario.  Ripple is the pin that slaughters the alts.  A few alt projects will survive.  ANY of them that look even a little like a security are gonna get killed.

Bitcoin basically holds.  Dominance goes wild.

Edit.. Wow.. the more I look at this the more beautiful it is.

Ripple another coin not backed by mining gear. Did well right?

[Biodom]

Actually i am loving this dump.  This is the BEST case scenario.  Ripple is the pin that slaughters the alts.  A few alt projects will survive.  ANY of them that look even a little like a security are gonna get killed.

Bitcoin basically holds.  Dominance goes wild.

Edit.. Wow.. the more I look at this the more beautiful it is.

Ripple another coin not backed by mining gear. Did well right?

true, but grin (backed by mining) did nothing positive so far-one of the shittiest of the shitcoins as far as ROI is concerned.

[cAPSLOCK]

Actually i am loving this dump.  This is the BEST case scenario.  Ripple is the pin that slaughters the alts.  A few alt projects will survive.  ANY of them that look even a little like a security are gonna get killed.

Bitcoin basically holds.  Dominance goes wild.

Edit.. Wow.. the more I look at this the more beautiful it is.

Ripple another coin not backed by mining gear. Did well right?

It connects to the security narrative.  1 to 2 dimensional thinkers can't see why POW is so damn efficient and such a GOOD use of energy, that will actually transform the entire power industry in 50 years.  But there is ZERO chance for a distributed system, much less a decentralized one without it.

My prediction?  Electricity ends up basically free thanks to bitcoin.

Is there any market more powerful than energy?  Pretty much no.  Energy is the prime market of our society.  But I did just say pretty much.  Because the market of human time, and labor is actually more powerful.  And Bitcoin is HIJACKING the energy network to combine it with the value of human labor which will incentivize even further efficiencies in the network.  Nuclear, solar, geothermal, wind.  All incentivized.  Too expensive to build/maintain a windfarm that has nowhere to send it's produced energy at certain times?  Bah Bitcoin solves this.

But we will have to live through 20,000 choruses of bleeding hearts saying Bitcoin is wasting energy before (like the choirs of the XRP army before them) Bitcoin, which does not give a fuik, proves them to be magnificently wrong.

God, if I was not so lazy I would be setting up some west Texas wind/solar.  I wonder how much those turbines cost to deploy.

[cAPSLOCK]

Actually i am loving this dump.  This is the BEST case scenario.  Ripple is the pin that slaughters the alts.  A few alt projects will survive.  ANY of them that look even a little like a security are gonna get killed.

Bitcoin basically holds.  Dominance goes wild.

Edit.. Wow.. the more I look at this the more beautiful it is.

Ripple another coin not backed by mining gear. Did well right?

true, but grin (backed by mining) did nothing positive so far-one of the shittiest of the shitcoins as far as ROI is concerned.

Grin chose an issuance model that guaranteed it would be worthless.  At least at first.  Grin is at least innovative (I own zero of it).  Grin's resource usage advantage is still interesting to me. But it is really not the BEST at anything.

The ONLY projects that will truly flourish will be the VERY FEW that are good at something bitcoin does not do, or cannot do for a long time.  And they have to be correctly built too...  constant inflation?  Interesting.  Constant parabolic asymptotic inflation?  Also interesting, and also weird.  Who really needs it?

[JimboToronto]

Actually i am loving this dump.  This is the BEST case scenario.  Ripple is the pin that slaughters the alts.  A few alt projects will survive.  ANY of them that look even a little like a security are gonna get killed.

Bitcoin basically holds.  Dominance goes wild.

Edit.. Wow.. the more I look at this the more beautiful it is.

Ripple another coin not backed by mining gear. Did well right?

 

https://bitcointalk.org/index.php?topic=5302906.msg55913364#msg55913364

Didn't want to double post.

Bitcoin is Bitcoin. Altcoins are altcoins. Ripple is corporate crap.

[Spaceman_Spiff_Original]

It connects to the security narrative.  1 to 2 dimensional thinkers can't see why POW is so damn efficient and such a GOOD use of energy, that will actually transform the entire power industry in 50 years.  But there is ZERO chance for a distributed system, much less a decentralized one without it.

Care to explain your reasoning why a system like POS can't work? (genuinely interested)

[Biodom]

God, if I was not so lazy I would be setting up some west Texas wind/solar.  I wonder how much those turbines cost to deploy.

I looked at the numbers.
1 turbine of 2-3 mW is $2-4 mil.
Lets assume $3 mil.
It looks like it can probably 'feed' 1000 S19-say, another $3 mil.
maintenance-they say about 50K/year.
2 people (at the minimum) taking care of 1000 miners-another $100-150K/year.

Total investment for the first year $6.2 mil.
1000 S19 would make roughly 20BTC/mo or $0.47mil/mo (current prices) or 5.64mil/year if everything stays put (it doesn't).
So, about 13-14 mo to profitability if turbine is fully paid for, not a loan.
However, second year is almost pure profit  .
This business would need to very strategically buy new miners (on the cheap when possible).
I am not sure how reliable the wind is (it probably isn't)?

[d_eddie]

It connects to the security narrative.  1 to 2 dimensional thinkers can't see why POW is so damn efficient and such a GOOD use of energy, that will actually transform the entire power industry in 50 years.  But there is ZERO chance for a distributed system, much less a decentralized one without it.

Care to explain your reasoning why a system like POS can't work? (genuinely interested)

It's the acronym. POS coins are mostly a POS.

[El duderino_]

I’m proud of myself, not owning any XRP.... didn’t need to sell any ....

Good my closest friends instant sold them after me telling the Sec issue

[soullyG]

It connects to the security narrative.  1 to 2 dimensional thinkers can't see why POW is so damn efficient and such a GOOD use of energy, that will actually transform the entire power industry in 50 years.  But there is ZERO chance for a distributed system, much less a decentralized one without it.

Care to explain your reasoning why a system like POS can't work? (genuinely interested)

Some reading for you here:

https://medium.com/@robertgreenfieldiv/vulnerability-proof-of-work-vs-proof-of-stake-f0c44807d18c

I'm sure there are more up to date resources now (but I'm lazy)

[d_eddie]

It connects to the security narrative.  1 to 2 dimensional thinkers can't see why POW is so damn efficient and such a GOOD use of energy, that will actually transform the entire power industry in 50 years.  But there is ZERO chance for a distributed system, much less a decentralized one without it.

Care to explain your reasoning why a system like POS can't work? (genuinely interested)

Seriously:

POS is never so resilient as POW. Imagine if a few large stakers are cut out from the network, even temporarily. Reorgs galore. Or what happens if keys for large stakes are lost/stolen?

POW is Darwinism at proof. Oops, Darwinism at work. The ensuing arms race *ensures* users get the best security that can be bought. As cAPSLOCK stated a few posts above, this could in turn lead to a perfect rationalization of the energy market as a collateral effect.

I'm no expert. This is just what I could come up with quickly. I'm sure someone else will give more detailed answers to your worthy question.

[d_eddie]

I’m proud of myself, not owning any XRP.... didn’t need to sell any ....

Good my closest friends instant sold them after me telling the Sec issue

I had no ripple
but I managed to sell some
magic of margin





#haiku

[Heater]

This is the saddest thing.  I spent months at my work telling two great workmates about the corn.  I don't have to tell the whole story, you all know how it goes... between "You're crazy not to have sold that." to "Dude you are rich sell that".  

And then right near DEC 17 17 one of them comes in and tells me his wife was mad he had not told her about what I was saying and that she though I was right so they bought Litecoin, BCash and Ripple.

No Bitcoin?  No man it's like 15 thousand dollars.  Ripple is like 2 bucks.

I said, you should sell the ripple immediately.  Also the Bcash.  Maybe the litecoin will be ok?

He was kinda mad.

A month ago I texted him.  Dude, that ripple pump.  Sell it!  "No man! This is when crypto goes up right?"  This is when BITCOIN goes up.  Sigh...

Oh well.

By the way... I hope the ants are happy with this Santa dump.

I had almost the exact same experience.

A guy from work bought Ripple (!), Litecoin, and some other shitcoin I can't remember and no Bitcoin. I told him to swap them all for Bitcoin asap but he never did. According to him, he missed the Bitcoin pump and it was too expensive.

Shitcoin promoters (and I include exchanges and uninformed experts on youtube) have something to answer for but at the end of the day, this guy was greedy and made his own choices. He was way down and hiding the losses from his wife. Sad but that's how it is.

[d_eddie]

They're all falling down
a lawsuit started it all
the ripple effect



#haiku

[El duderino_]

I’m proud of myself, not owning any XRP.... didn’t need to sell any ....

Good my closest friends instant sold them after me telling the Sec issue

I had no ripple
but I managed to sell some
magic of margin





#haiku

The ripple riddle....
Fooled many enthousiasts.
Finally cripple!

[Toxic2040]

Winter clean up arrived...much to my dismay...raking leaves..some light mulching...chopping kindling and firewood...tiring but a satisfying day actually. Probably should do that more often.

Happy Holidays everyone and I wish you all a most joyous New Year. Feels like we have earned it. Remain strong in heart and mind and help those in need around you. Its all I got.

cheers
tc


---------
you could interpret the daily chart as coiling for another strike upwards..you could also interpret it as the market is exhausted and over bought

#doyouownresearchismyadvice

D

#humblethankfulhands

[Dabs]

God, if I was not so lazy I would be setting up some west Texas wind/solar.  I wonder how much those turbines cost to deploy.

I looked at the numbers.
1 turbine of 2-3 mW is $2-4 mil.
Lets assume $3 mil.
It looks like it can probably 'feed' 1000 S11-say, another $3 mil.
maintenance-they say about 50K/year.
2 people (at the minimum) taking care of 1000 miners-another $100-150K/year.

Total investment for the first year $6.2 mil.
1000 S11 would make roughly 20BTC/mo or $0.47mil/mo (current prices) or 5.64mil/year if everything stays put (it doesn't).
So, about 13-14 mo to profitability if turbine is fully paid for, not a loan.
However, second year is almost pure profit  .
This business would need to very strategically buy new miners (on the cheap when possible).
I am not sure how reliable the wind is (it probably isn't)?

Why does the business have to get more miners? If it's pure profit on the second year, the smart thing to do is milk that profit until it's gone, all the while buying more corn.

[cAPSLOCK]

God, if I was not so lazy I would be setting up some west Texas wind/solar.  I wonder how much those turbines cost to deploy.

I looked at the numbers.
1 turbine of 2-3 mW is $2-4 mil.
Lets assume $3 mil.
It looks like it can probably 'feed' 1000 S11-say, another $3 mil.
maintenance-they say about 50K/year.
2 people (at the minimum) taking care of 1000 miners-another $100-150K/year.

Total investment for the first year $6.2 mil.
1000 S11 would make roughly 20BTC/mo or $0.47mil/mo (current prices) or 5.64mil/year if everything stays put (it doesn't).
So, about 13-14 mo to profitability if turbine is fully paid for, not a loan.
However, second year is almost pure profit  .
This business would need to very strategically buy new miners (on the cheap when possible).
I am not sure how reliable the wind is (it probably isn't)?

Nice.  Actually I am shocked this could ROI that fast.  Dang.  I know some OG VCs are doing this in west Tejas right?  Wences or someone?

[yefi]

To that end, I'm still not convinced to spend money to get one of them. I'm now leaning towards a Trezor, but I do fine with my own hardware. My "hardware wallets" are my freshly formatted refurbished air-gapped old ancient workstations / servers. Almost eternally quarantined.

Air-gapped is the way. Sign the TX on the offline machine, push the TX to the network on the online. Never seen the need for specialised hardware when generalised will do the job just fine.