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

[JayJuanGee]

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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[600watt]

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.  

[Sayeds56]

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

[jojo69]

https://www.youtube.com/watch?v=1ysBE0dT4vg

[Poker Player]

ATH already. It seems we are going to break $50k today.  

[600watt]

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  

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

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

[600watt]

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


...is priceless!


 

[hisslyness]

ATH already. It seems we are going to break $50k today.  

Unfortunately I will be stuck at work and will not be able to help wake those who have asked to be woken up at 50k... someone will have to help out!...

[AlcoHoDL]

A wonderful morning to all WOers!

Just checked the price and observed the nice pump (and subsequent small pull back). This is the first time we've had a deep 40+k € action. Hopefully to stay.

A little more, and we'll be conquering $50k today.

Onwards & upwards!

HoDL.

Some, who are former co-inhabitants of WO had fallen into a deeper and deeper state of wrong-sidedness.
https://bitcointalk.org/index.php?topic=5315644.msg56335474#msg56335474

https://bitcointalk.org/index.php?topic=5311098.msg56335845#msg56335845

Have fun staying poor, mindrust... At least your username checks out.

[JayJuanGee]

Some, who are former co-inhabitants of WO had fallen into a deeper and deeper state of wrong-sidedness.
https://bitcointalk.org/index.php?topic=5315644.msg56335474#msg56335474

https://bitcointalk.org/index.php?topic=5311098.msg56335845#msg56335845

In some sense, some of us likely feel bad for him (referring to Mindrust).. because it is difficult to know how to get such thoughts to stop..

it is a kind of post hoc rationalizing after having had sold too many coins too soon (referring to bitcoin).

If fuzzes up and fucks up the thinking of maybe even the smartest of peeps - kind of demonstrating that we don't want to end up going down that road, because it likely becomes almost impossible to come back.. including the thoughts that you always want to try to stay ahead of the game a bit - but continuing to be overinvested in BTC rather than underinvested, even if a large amount of suffering might have to take place during longer term BTC price corrections that do happen from time to time and we have no reason to believe that they are not going to happen in the future, even though some peeps talk about supercycles that are suggesting that such longer and deeper corrections might not happen from here on out (that is if we enter into a supercycle).

[JayJuanGee]

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...)

https://www.youtube.com/watch?v=WiMF6IBfcWE

Laurie Juspeczyk:
Hey, you remember that guy? The one who pretended to be a supervillain so he could get beaten up? What was his name..? Captain Carnage.

Dan Dreiberg:
Yeah he was one for the books.

Laurie:
You're telling me! I remember, I caught him coming out of this jeweller's. I didn't know what his racket was. I start hitting him and I think "Jeez! He's breathing funny! Does he have asthma?

Dan:
He tried that with me, only I'd heard about him, so I just walked away. He follows me down the street… broad daylight, right, screaming "Punish me! PUNISH ME!" I'm like "No! Get lost!"

Laurie:
What ever happened to him?

Dan:
Well, he pulled it on Rorschach, and Rorschach dropped him down an elevator shaft.

[Pause. They both start laughing]

Laurie:
Oh, God, I'm sorry, that isn't funny.

Dan:
Maybe a little

Jeezus Christ!! , My younger brother's name is  Rorschach!  And get this.... I used to beat him up for squealing on me!
Next time him and his wife are over for dinner, I'll be extra vigilant and I certainly won't call him an asshole.... because you never know....

I have a nephew who is way the fuck BIGGER than me, and I would not have a chance... .so I continue to hope that he retains his civility and respect for his elders and all of that.  I cannot recall being specifically mean to him when he was a toddler, though I do recall locking his sister in the closet until she agreed to say that she was sorry about whatever it was that she did wrong, which took an hour or more... stubborn, sometimes, those lil kiddies.

[ErisDiscordia]

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.

Thank you! Someone gets it...consuming more energy than Denmark? Bitch, Bitcoin is going to save the rainforest by stopping you from going into debt to buy useless shit.

[AlcoHoDL]

Some, who are former co-inhabitants of WO had fallen into a deeper and deeper state of wrong-sidedness.
https://bitcointalk.org/index.php?topic=5315644.msg56335474#msg56335474

https://bitcointalk.org/index.php?topic=5311098.msg56335845#msg56335845

In some sense, some of us likely feel bad for him (referring to Mindrust).. because it is difficult to know how to get such thoughts to stop..

it is a kind of post hoc rationalizing after having had sold too many coins too soon (referring to bitcoin).

If fuzzes up and fucks up the thinking of maybe even the smartest of peeps - kind of demonstrating that we don't want to end up going down that road, because it likely becomes almost impossible to come back.. including the thoughts that you always want to try to stay ahead of the game a bit - but continuing to be overinvested in BTC rather than underinvested, even if a large amount of suffering might have to take place during longer term BTC price corrections that do happen from time to time and we have no reason to believe that they are not going to happen in the future, even though some peeps talk about supercycles that are suggesting that such longer and deeper corrections might not happen from here on out (that is if we enter into a supercycle).

I think mindrust's current behaviour comes from the natural protective reaction of the human mind. It protects the human from going insane, by creating (and amplifying) reasons to justify one's wrong decisions. I wouldn't be surprised to see mindrust behaving 10x like r0ach, shilling PMs and supporting 5G/alien/COVID-19 conspiracy theories.

[sirazimuth]

Holy crap,  did the cat let go of your tongue?!! ..... oh nm.... (and... its gone)

[DaRude]

It won't be long till $50k now and not many coins left above that

[arcmetal]

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.

Thank you! Someone gets it...consuming more energy than Denmark? Bitch, Bitcoin is going to save the rainforest by stopping you from going into debt to buy useless shit.

And once the oil and coal plants get wiped out, and most of the power gets generated by solar, then this whole argument becomes moot.

[JimboToronto]

Some, who are former co-inhabitants of WO had fallen into a deeper and deeper state of wrong-sidedness.
https://bitcointalk.org/index.php?topic=5315644.msg56335474#msg56335474

https://bitcointalk.org/index.php?topic=5311098.msg56335845#msg56335845

Notice how Mindrust never once mentions Bitcoin?

It's all "crypto, crypto, crypto".

Talk about being in denial.

[sirazimuth]

...

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

...

Trust me bud,  I've poured plenty out tonight, all by my lil selfie.... And now I feel all uppity! ...... burp  burp

gotta love strumming after a few beers.  No matter how bad you play, it still sounds good.
No wonder most musicians are alkies.... ( well the lousy ones anyway, like yours truly)

[heslo]

Some, who are former co-inhabitants of WO had fallen into a deeper and deeper state of wrong-sidedness.
https://bitcointalk.org/index.php?topic=5315644.msg56335474#msg56335474

https://bitcointalk.org/index.php?topic=5311098.msg56335845#msg56335845

Notice how Mindrust never once mentions Bitcoin?

It's all "crypto, crypto, crypto".

Talk about being in denial.

Sometimes you just gotta admit to yourself you fucked up, that way you can move on. I don't think he's anywhere near that yet

[somac.]

Some, who are former co-inhabitants of WO had fallen into a deeper and deeper state of wrong-sidedness.
https://bitcointalk.org/index.php?topic=5315644.msg56335474#msg56335474

https://bitcointalk.org/index.php?topic=5311098.msg56335845#msg56335845

In some sense, some of us likely feel bad for him (referring to Mindrust).. because it is difficult to know how to get such thoughts to stop..

it is a kind of post hoc rationalizing after having had sold too many coins too soon (referring to bitcoin).

If fuzzes up and fucks up the thinking of maybe even the smartest of peeps - kind of demonstrating that we don't want to end up going down that road, because it likely becomes almost impossible to come back.. including the thoughts that you always want to try to stay ahead of the game a bit - but continuing to be overinvested in BTC rather than underinvested, even if a large amount of suffering might have to take place during longer term BTC price corrections that do happen from time to time and we have no reason to believe that they are not going to happen in the future, even though some peeps talk about supercycles that are suggesting that such longer and deeper corrections might not happen from here on out (that is if we enter into a supercycle).

I think mindrust's current behaviour comes from the natural protective reaction of the human mind. It protects the human from going insane, by creating (and amplifying) reasons to justify one's wrong decisions. I wouldn't be surprised to see mindrust behaving 10x like r0ach, shilling PMs and supporting 5G/alien/COVID-19 conspiracy theories.

Yeah this is indeed a natural response, I'm seeing the same thing in an acquaintance of mine. Similar, to mindrust, he made a decision on something that he thought was a certainty and it went bad. Lost a lot of money, then turned to various conspiracy theories which supported his initial decision, and which also suggest that his loss will actually turn out to be an amazing win.

It's depressing to see actually. Psychology is a very interesting, yet depressing topic.

Sometimes you just gotta admit to yourself you fucked up, that way you can move on. I don't think he's anywhere near that yet

I believe that's the secret to having a happy and successful life. Well, that and Bitcoin.