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Question: Which price is bitcoin going to reach first? (credits to Jay)
$25K - 56 (34.1%)
$50K - 108 (65.9%)
Total Voters: 164

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25377223 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
BobLawblaw
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February 14, 2021, 03:54:10 AM
Merited by HairyMaclairy (1)

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February 14, 2021, 04:06:21 AM

Exactly this.  Blockchains applications which are not currencies are worthless because any extraneous data added to the blockchain can be fake.  Only currencies do not require anything to be added. 

Not necessarily worthless. You can add a fake piece of information, but it's timestamped. What matters more, it forces you to fake later info related to the first fake piece. You can't go back and fix the logs after the fact. This can be valuable even if the info itself could be fake.
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February 14, 2021, 04:14:00 AM

Buy SpiffCoin


https://spiffcoin.net/


https://www.youtube.com/watch?v=zKpMEX9Ml2E
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February 14, 2021, 04:47:00 AM
Merited by 600watt (1)

the tokens can not be attached to any thing in the physical world. supply chains or transport chains cannot be trusted only because some software is used. a bad actor can always just betray the system, the software cannot enforce anything. the bitcoin protocol can enforce the the rules that make a bitcoin a bitcoin.

This is the major problem I have with the hype behind Eth. I think it genuinely has some very interesting use cases but this whole "code as law" thing has the very real issue that there "X as law" deal is already occupied by people and not without good reason.
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February 14, 2021, 04:50:50 AM

In theory I got some XRP from that airdrop a long time ago. In actuality, I can't remember at all how to access it and in truth, couldn't give a damn.

It did provide some hilarity a while back when I got into an argument with a (different) old friend who was relatively new to crypto where he was saying that it was the next big thing and I was saying it was a pile of crap and not even a crypto. That was shortly before it crashed and he suddenly went very quiet.
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February 14, 2021, 04:52:39 AM

It seems one of the biggest reasons not to let people know about your stash is because any time it goes up, they start telling you you should sell it all.  Roll Eyes
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February 14, 2021, 04:57:24 AM
Merited by JimboToronto (1), BinaryReign (1)

All those people who complained how Bitcoin could never become a big thing because it would be "unfair" that some people would be rich from getting in early have now had more than ten years to get in early.
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February 14, 2021, 05:29:51 AM

4 posts in a row....
 Dude, use the edit button. Just a friendly reminder. (my posts are always edited btw, otherwise I'd have like 10 posts in a row)
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February 14, 2021, 05:35:28 AM
Merited by xhomerx10 (1)

That's no fun.

It's a style choice.

I ran out of gas!

I got a flat tire!

I didn’t have change for cab fare!

I lost my tux at the cleaners!

I locked my keys in the car!

An old friend came in from out of town!

Someone stole my car!

There was an earthquake!

A terrible flood!

Locusts!

IT WASN’T MY FAULT, I SWEAR TO GOD!
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ESG, KYC & AML are attack vectors on bitcoin


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February 14, 2021, 05:46:16 AM



Dude... that has the word "crypto" in it.

Twice.  

It's gonna piss off JJG!


You are right... I overlooked getting pissed.. but I thought it was funny.. even though that is a lame-ass vague word, whatever the fuck "crypto" means of the sense of trying to act as if there were some kind of broader concept that goes beyond bitcoin and bitcoin is just one of the vague things contained therein... o.k... enough from me.. experienced WO should either be staying away from that word or at least pointing out that they got it from the interwebs and that it was somehow good to post here, in spite the use of such term.. twice, as you mentioned, cAPSLOCK

Might have to pour one out, just for funzies.





Dude... that has the word "crypto" in it.

Twice.  

It's gonna piss off JJG!


crypto crypto crypto


Cmon jay... gimme a batslap!   (No homo, I promise...)

Don't make me have to pour one out for you, too, biatch?

The reality that the n00bs do not understand is that they could just 100x their trades in bitcoin to have the same affect they get with altcoins because they're "too late".

The alts will crash 100x when bitcoin crashes and alts can only hope to go up 100x with bitcoin.

If you invested in an alt and you do not acknowledge that you are essentially in a ponzi scheme hoping you are in early and are able to get out before collapse then that's your gamble.

I'm not sure how to 100x your bitcoin trade but if you have n00bs telling you they're too late, just tell them how to 100x trade a few satoshis for the same experience as you.

Even though I appreciate something about your sentiment here Elwar, something just does not come off correctly about the whole point that you seem to be wanting to make.
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February 14, 2021, 05:53:32 AM
Merited by Hueristic (1)

the tokens can not be attached to any thing in the physical world. supply chains or transport chains cannot be trusted only because some software is used. a bad actor can always just betray the system, the software cannot enforce anything. the bitcoin protocol can enforce the the rules that make a bitcoin a bitcoin.

This is the major problem I have with the hype behind Eth. I think it genuinely has some very interesting use cases but this whole "code as law" thing has the very real issue that there "X as law" deal is already occupied by people and not without good reason.

Yeah, code as law... until we fuck up like the DAO and need to intervene. Then it's what a central authority says is law. Kinda antithetical to the whole crypto thing in general hey?
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February 14, 2021, 05:53:41 AM

ATH Incoming?
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February 14, 2021, 05:54:30 AM

All those people who complained how Bitcoin could never become a big thing because it would be "unfair" that some people would be rich from getting in early have now had more than ten years to get in early.

Nobody can stop BTC from flourishing and making Headlines all over the world because it is Digital Gold and potentially it can take over the  current financial system which is highly inflationary and not backed by any Real asset. Bitcoin is the great creation of Satoshi Nakamoto and he had predicted in 2009 what we witness now.
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ESG, KYC & AML are attack vectors on bitcoin


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February 14, 2021, 05:56:04 AM

ATH Incoming?

Seems quite likely (aka imminent).

Within $104 of the ATH as I type this post (which means $48,896)..  within the past three minutes.


Edited:  Now within $92 of the ATH as I type this post (which means $48,908)..  within the past one minute.

Edit 2:  Fuck it.  I give up.  Price keeps interfering with my stream of thoughts.. now $48,950  You fuck.. bitcoin.. just saw ATH flashenings on my screen
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February 14, 2021, 05:57:40 AM
Merited by Torque (1), AlcoHoDL (1), BinaryReign (1)

Exactly this.  Blockchains applications which are not currencies are worthless because any extraneous data added to the blockchain can be fake.  Only currencies do not require anything to be added. 

Not necessarily worthless. You can add a fake piece of information, but it's timestamped. What matters more, it forces you to fake later info related to the first fake piece. You can't go back and fix the logs after the fact. This can be valuable even if the info itself could be fake.


if the "honesty" of the data cannot be enforced, what good is it to have fake data, that can´t be altered? and also: who is saying that time stamped data cannot be altered anyway? if it is a public blockchain, a 51% attack is always theoretically possible, making the entire endeavor useless from the get go. then better use a private blockchain? well, that is even worse, now you have created an extra slow and inefficient database with no better security than any other shared database.

there is a reason why it took satoshi nakamoto only 3 months between publishing a concept paper (white-paper) and rolling out the functioning public blockchain called bitcoin and for the next 13 years no one was able to come up with any other "blockchain product" (except for the all useless copy cats called shitcoins, which none are truly decentralized)
the entire Blockchain-not bitcoin narrativ did not get a single use case identified, despite billions of dollars invested and years of research.

bitcointechnology is a one trick pony. blockchain is not a technology, it is a buzzword. imagine astronauts discovering some living creature on mars. it lives. the want to know what makes it "work" . if those astronauts were "blockchain-not bitcoin" dudes, they would identify some part of it as being the most important and cut it out. the creature dies and they wonder why. they think that "living" is a function of the part they cut out. but "living" is an emergent property of the entire organism that went through its evolution cycle. it is not a mere function of any identifiable part, that can be used without the rest of the creatures body.

we should discuss this topic down to the teeth. it is 2021 and this is a bitcoin elite grade forum. if we cant get it sorted no one ever will.  Cheesy
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February 14, 2021, 06:04:07 AM
Merited by JayJuanGee (1)

ATH Incoming?

Seems quite likely (aka imminent).

Within $104 of the ATH as I type this post (which means $48,896)..  within the past three minutes.


Edited:  Now within $92 of the ATH as I type this post (which means $48,908)..  within the past one minute.

Edit 2:  Fuck it.  I give up.  Price keeps interfering with my stream of thoughts.. now $48,950




https://twitter.com/i/status/1358773231948161030
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February 14, 2021, 06:12:27 AM

https://www.youtube.com/watch?v=1ysBE0dT4vg
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February 14, 2021, 06:14:40 AM

ATH already. It seems we are going to break $50k today.  Smiley
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February 14, 2021, 06:15:36 AM

Without bitcoin there is no crypto, no digital currency and no use case of blockchain technology.

To be fair, I think a few use cases for blockchain technology exist - like cryptographically reliable timestamping of certain transactions. The shipment industry could be an example, or the stock market and the clearinghouses behind the curtains, where strict timing and prioritization of trades could be made transparent. The only important property is that you can't touch a past block without invalidating later ones.

However, such an unwieldy, inefficient, slow thing as a non-permissioned, fully distributed blockchain, with PoW, ...well, then of course there would be no need. Except for bitcoin  Wink

Yes, also uses for things like copyright, patents... Government use also makes sense, every citizen expected to connect to the government blockchain, and people get their official stuff through that.

what is a government blockchain? is it public=open? then it can be 51% attacked by other nations or entities. if it is "private" - then it is just a shared database, the slowest and most inefficient you can imagine.



check this out, folks. it is brilliant. check out all the fancy decision charts and look at the conclusion:


https://medium.com/@sbmeunier/when-do-you-need-blockchain-decision-models-a5c40e7c9ba1

Quote
The reason why so many sophisticated models got it wrong is because they assumed blockchain was a technology, when in fact it’s not a technology but a design pattern:
Blockchain, or Distributed Ledger, means “not controlled by a single or small group of entities”
This is super rare and hard to do because 1/ there are not that many use cases where you actually *need* that. P2P money without authorities is the only use case so far. By design, if it’s controlled by a business, a consortium of businesses, or a government, you don’t need a blockchain. All the business & government-related use cases could work well with a proper governance, standards and conventional distributed solutions. 2/ it is hard to implement in practice, because humans naturally fall back to hierarchies and like to follow leaders. Bitcoin is a leaderless miracle.
So the 2 questions that everybody missed are:
Is your software fully developed as an open source software project? NO -> you don’t need a blockchain
Is the governance of the changes to the software decentralized, in the sense of “not controlled by a single or small group of individuals or entities”? NO -> you don’t need a blockchain. That means that the governance of the changes to the software must be painful and anarchic, else you don’t need a blockchain. It makes sense because if the governance of the system was efficient and policed, you wouldn’t need the complexity of BFT in the first place!
WRITTEN BY

Sebastien Meunier





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February 14, 2021, 06:19:51 AM

writing about "blockchain basics" while bitcoin making ATH....


...is priceless!


 Cheesy

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