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

[Dabs]

You should build a structure visible from space like the Almeria greenhouses only in the shape of the Bitcoin symbol.  Oh wait... opsec

In that line of thinking, I would probably try to get some land with lots of trees, maybe a mountain nearby, and build whatever so it blends in such that the structure is NOT visible from space, or from the air.

Perhaps one of those underground silo / bunker types.

For ETFs, I think the new Canadian one has a ticker symbol ABTC. In addition to the already popular QBTC one. Both traded on the TSX.

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[xhomerx10]

Nice drumming.

https://youtu.be/0Pq8vOVbvzs?t=39

 Wow. People congregating without masks or distancing having a good time.  What a foreign concept!   

 

[Dabs]

Can we keep climate change FUD (directed to Bitcoin - FUD) out of this thread, please?

It's actually good to try to educate people on this and how it works as far as bitcoin is concerned.

What do miners do? They mine.
What do miners "pay"? They pay the cost of electricity to mine.

So what is it they want to do? They want to lower their cost of electricity so they pay less to mine. They want to keep more profit. Some want to HODL the difference.

A lot of miners tend to migrate (physically) their machines to locations where electricity is cheap, or where there is no other user of that energy. They tend to look for renewable sources of energy, or other natural kind of stuff, like hydro, tidal, solar, wind ... maybe even nuclear. Energy that would just be wasted or not used because they are so far from the rest of humanity or civilization.

See, the actual mining machines do not need to be located where people live. They can be in remote places. Some places are naturally colder, like both ends of the earth, the north and south poles, Iceland, Greenland, Russia, Canada, Santa's Village, whatever.

It's not as big an issue as the naysayers think. Besides, miners who mine where they live, they pay for that electricity anyway, so what's the big deal? Humans are willing to pay $1 per kilowatt to live where they live. Mining machines tend to look for whereever the cost of electricity is below 1 cent per kilowatt hour. 2 is okay. 1 is good. Zero is better.


All this energy not being used for any other purpose then goes on to securing the bitcoin network.

Now, we can all sleep at night knowing our money, or safe haven asset, one that has been performing better than anything else in the market, is secure, and will likely be secure for the next one hundred years.

[ivomm]

Can we keep climate change FUD (directed to Bitcoin - FUD) out of this thread, please?

This is part of another social media FUD campaign. I see the same lines copy pasted all over facebook, twitter, reddit, and now here. Obviously some wannabe shorter manipulators got a rusty pipe in the asshole, when Tesla bough bitcoins. Now their rage against Elon Musk is completely understandable. "Tesla signed a green energy thing, and now Bitcoin mining, ue, ue, ue"   The other day the same twitter account started fake tether and mtgox fud, before that feds ban, india ban, etc. Just lol. So much money paid for these accounts with millions of followers for nothing. Let them shorters burn in the eternal hell of Bitcoin ATH's . (For us this is the heaven of course.)

[600watt]

The researchers estimate that in 2018, every $1 of Bitcoin value created was responsible for $.49 in health and climate damages in the United States.
And we are talking about the innocent 2018...it would be shocking to try to do the equation for the current months of 2021.

holy fuck, that must be the worst piece of FUD i have seen in a looooong time. and it´s not that we live in a period of low FUD intensity.  

sir, could you please fuck off?

[Wekkel]

I simply resist the talk about the environment hurting aspects of Bitcoin mining often put forward by naysayers (no coiners I presume).

It's the same as saying that the production and distribution of the next hype plastic toy (example below) costs $xx environmental damage for each toy delivered to a toddler (only to be tossed aside within a month or - optimistically - a year).



We could argue whether it is moral to spend electricity or, more general, energy on the production and transportation of this type of product. Something that is paid for by the consumer who wants such a toy in the end. Why don't we apply this exercise on all products and services in the whole economy. Frankly, every economic activity for that matter?

Why is only Bitcoin scorching the planet and causing little kittens to die whereas the creation of consumer clothing, trash tv shows, gaming rigs, Whatsapp/Twitter chatter about nothing, 3g/4g/5g connections, mobile phones, air travel vacations, etc etc, are also energy consuming activities caused by a demand for it?

It's the selective pointing of the finger that triggers me, especially if it's all about virtue signalling about climate change.

[siggy_77]

Can we keep climate change FUD (directed to Bitcoin - FUD) out of this thread, please?

It's actually good to try to educate people on this and how it works as far as bitcoin is concerned.

What do miners do? They mine.
What do miners "pay"? They pay the cost of electricity to mine.

So what is it they want to do? They want to lower their cost of electricity so they pay less to mine. They want to keep more profit. Some want to HODL the difference.

A lot of miners tend to migrate (physically) their machines to locations where electricity is cheap, or where there is no other user of that energy. They tend to look for renewable sources of energy, or other natural kind of stuff, like hydro, tidal, solar, wind ... maybe even nuclear. Energy that would just be wasted or not used because they are so far from the rest of humanity or civilization.

See, the actual mining machines do not need to be located where people live. They can be in remote places. Some places are naturally colder, like both ends of the earth, the north and south poles, Iceland, Greenland, Russia, Canada, Santa's Village, whatever.

It's not as big an issue as the naysayers think. Besides, miners who mine where they live, they pay for that electricity anyway, so what's the big deal? Humans are willing to pay $1 per kilowatt to live where they live. Mining machines tend to look for whereever the cost of electricity is below 1 cent per kilowatt hour. 2 is okay. 1 is good. Zero is better.

All this energy not being used for any other purpose then goes on to securing the bitcoin network.

Now, we can all sleep at night knowing our money, or safe haven asset, one that has been performing better than anything else in the market, is secure, and will likely be secure for the next one hundred years.

I'd also like to add that I take exception to the "heat" argument with regards specifically and only to renewable energy.   For renewables, heat release to environment is a net-zero.  Heat energy comes in as solar radiation (and lets face it, ultimately all renewable energy, except tidal is at it source solar.)  Either that solar radiation gets absorbed when it first hits, and get immediately turned into either heat/evaporation/plant growth/wind, and all of these eventually wind up as heat down the line, or that solar radiation gets turned into electricity, and then gets turned into the same amount of heat when it runs an ASIC.   Conservation of energy.. physics is a bitch.  

Now, having thought about this, I can think of one argument that would negate some of the above:  If you are arguing specifically that renewables reduce the albido of the earth, causing less radiation (and thus heat) to be reflected back into space I'll give you that side of the argument as a possibility.. I'll need to do some research to see if this is actually the case.

[soullyG]

It's the selective pointing of the finger that triggers me, especially if it's all about virtue signalling about climate change.

The bit that annoys me is when they say "oh but BTC mining uses up the energy of a small country without value"...we are replacing the entire legacy global financial ecosystem, and then adding value on top!

I wouldn't be concerned about energy usage if it hit even 100% of global energy spent on legacy finance...it would be a much more efficient process than the legacy system, and it's actually possible to measure it; literally the only reason we are having this conversation..

That's not even considering the push it's giving us towards mass adoption of renewable energy

Now, having thought about this, I can think of one argument that would negate some of the above:  If you are arguing specifically that renewables reduce the albido of the earth, causing less radiation (and thus heat) to be reflected back into space I'll give you that side of the argument as a possibility.. I'll need to do some research to see if this is actually the case.

One of the only valid critiques of PoW mining, but I don't think we are even remotely close to it being an issue

[UnDerDoG81]

It sucks that all the money seems to still flow into alts. Look at Binance coin. Yesterday I thought it will crash after that pump. Today it gained another 50%. I feel like everybody is getting rich while I wait for bitcoin to make 5% lol.

I know shitcoins and all but damn ı wish I would have bought some when they were cheap. So had lots of money now to buy more bitcoin.

You are pathetic, UnDerDoG81.

It's like you have not learned anything about bitcoin in more than 7 years.

Lot's of shitcoiners and nocoiners have gotten distracted by the same bullshit and enticed into gambling on supposed gains of various shitcoins rather than having a solid bitcoin plan.. and if you have a solid bitcoin plan, you don't have to worry if it goes up another 5% or not.. because you should already be in solid profits.

Focus, UnDerDoG81.


Focus ur lil selfie.  

You trust Michael Saylor and think he is honest in his opinion? -> https://www.youtube.com/watch?v=4oO8VlNFv7Y

Or does he talk people and investors into Bitcoin, maximizes his profits and gets out on the top of the cycle?

Oh gawd....   Another example of your level of dumb, UnDerDoG81.


 

Ever heared of reflecting your self onto others?

[siggy_77]

Now, having thought about this, I can think of one argument that would negate some of the above:  If you are arguing specifically that renewables reduce the albedo of the earth, causing less radiation (and thus heat) to be reflected back into space I'll give you that side of the argument as a possibility.. I'll need to do some research to see if this is actually the case.

One of the only valid critiques of PoW mining, but I don't think we are even remotely close to it being an issue

I wish I would have thought to add this to my original reply.. yes, in the grand scheme of things, even if renewables reduce the albedo, I think the amount would be somewhat less than a rounding error and have an absolutely negligible effect when compared to other environmental concerns.

[dieselmeister]

the next dump, because tesla take a 10% hit?

forget it... currently not even my dip order was successfully processed... bacicall 1 Euro above, it turns it way up again...

2 of them were triggert ... more bitcoin ...

[Sayeds56]

a little OT: Do you think the crypto ban in india will effect the price or is it already in the price (so no effect at all)?

I think it won't have any significant impact on BTC price as Size of crypto market is very small. India has long history of banning it and still many exchanges are operating in India like WAZIREX. There are huge number of Crypto Lovers in India, certainly they will challenge it.



https://www.bloombergquint.com/business/intent-on-ban-india-to-give-transition-time-to-crypto-investors-bq-exclusive

[Dabs]

Bitcoin is a technically superior asset, it is thermodynamically sound money. It obeys the laws of physics and allows people to transfer monetary value over its network across space and across time. It is also hard money.

[cAPSLOCK]

Tons of support just under 46. 

[xhomerx10]

You should build a structure visible from space like the Almeria greenhouses only in the shape of the Bitcoin symbol.  Oh wait... opsec

In that line of thinking, I would probably try to get some land with lots of trees, maybe a mountain nearby, and build whatever so it blends in such that the structure is NOT visible from space, or from the air.

Perhaps one of those underground silo / bunker types.

For ETFs, I think the new Canadian one has a ticker symbol ABTC. In addition to the already popular QBTC one. Both traded on the TSX.

  Sorry, I thought the idea was self-explanatory.  If Bob were to purposefully build a structure in the shape of the Bitcoin symbol to be viewed from space as I suggested, what would be the point in obscuring its view from space?!  In fact, what would be the point in building it at all?  I'm sure there are many more efficient shapes for structures than the Bitcoin symbol. (not that I mean to disrespect the Bitcoin symbol).  This structure would be an hommage to the thing that gave Bob the monetary might to afford his dream "home/ranch/racetrack".  Maybe just a tattoo then.



 

[Richy_T]

The problem folks like Paul Krugman and others have with Bitcoin..is that it is based 100% on faith in the system/blockchain of Bitcoin..ie the mechanism...

I guess it's much easier to have faith in mathematics when you've been trained in STEM mathematics rather than economics mathematics

[JSRAW]

Can we keep climate change FUD (directed to Bitcoin - FUD) out of this thread, please?

[jojo69]

The Bitcoin vs. environment trope is total bullshit.

A widely adopted, deflationary store of value is the only thing with the potential to overcome humanities tendency to instant gratification and rein in the senseless overcomsumption we see today.

If your money is going to be worth more tomorrow than it is today are you going to blow it on some worthless crap at WalMart or IKEA?  No.  You are only going to spend it on things with actual value.

Bitcoin incentivizes the deferral of consumption and planning on longer time frames, as such it is the best thing to happen for the ecology in all of human history.

[cAPSLOCK]

Can we keep climate change FUD (directed to Bitcoin - FUD) out of this thread, please?

Also, along with the climate FUD if we could limit pictures of Roger Ver?  K Thanks.

[virasog]