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

[lightfoot]

Eth has to be the king of shit coins.

What happens if mr V wakes up dead tomorrow Eth tanks 75% and they go to war over who controls it.  All depends on him mr v.  just what a person needs.

BTC does not need mr S. to thrive does it?

Yep, and if they don't like how a transaction worked out they will just rewrite the protocol to invalidate it. I wouldn't trust ETH with my garbage.

ETC at least didn't pull that shit deal.

[Biodom]

IMHO, bitcoin success as a major monetary network replacing fiat HAS ALREADY happened, the task is to make sure (with our actions) that it happened in OUR timeline/Block UNIVERSE.

[Richy_T]

I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten?

I THINK I got 0.33 BTC for running their chain for a week or so ..so they could setup POS with my 2013 KNC Jupiter Miner I had to 'dust off' after a couple years..the

last hurrah...everyone mined for PayCoin...I mined it on some exchange for BTC direct..


Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it

Brad

I used to mine a bit for the lulz. I jumped around a little bit and I've been going back the past few days in case I left anything lying around. Found a small but not insignificant sum of BTC on multipool but also all kind of shitcoins, some in the thousands of coins currently hanging out at a couple of bucks total. Not even worth the effort to work out how to cash them in TBH.

I wish I'd left my miner running a bit longer. Though it was definitely not worth the electricity, it would have paid off. But then again, so would buying Bitcoin with the dollars.

[600watt]

Saw this great pic on a tweet in a PlanB thread.
https://twitter.com/boogotti/status/1367961339759628290

Let me rephrase the picture...

Black hole:
"A black hole is a region of spacetime where gravity is so strong that nothing—no particles or even electromagnetic radiation such as light—can escape from it.
The theory of general relativity predicts that a sufficiently compact mass can deform spacetime to form a black hole."

Bitcoin:
"A Bitcoin is a cryptocurrency of the world where gravity is so strong that nothing—paper money or even governments such as Central Banks—can escape from it.
The theory of cryptocurrency predicts that a sufficiently compact mass (21million coins) can decentralize governments to form a new world."

I appreciate your explanation of the picture, shahzadafzal, because it does seem to help me, but I am having some difficulties understanding why you are using the term cryptocurrency when you refer to bitcoin, and sure, "technically" bitcoin likely fits into a subcategory, but seems to me that part of the problem is that we have no other example in such category besides bitcoin that meets the value sucking definition that you seem to be applying to bitcoin but you feel some kind of inclination to broaden the concept beyond bitcoin by using the term "cryptocurrency" 

Furthermore, many of us appreciate that the term cryptocurrency is abused and confusing in mainstream parlance - so I really have difficulties understanding why anyone (whether academic or not) really feels a need to use the term "cryptocurrency" when referring to bitcoin value sucking dynamics... ..even though in theory there could end up being some other system or coin that might end up developing some of the same or similar value sucking characteristics that are currently ONLY realistically measurable in bitcoin.

As always You WO users never disappoint me in bringing something new and something interesting around the Bitcoin

JayJuanGee thank you for pointing out an excellent point i never thought about it before. Your post has forced me to do some R&D and go back and read the Satoshi Nakamoto's White paper again one more time (since 2018). Well he too did not mention about any such thing like cryptocurrency. Frist of all he called it a "Peer-to-Peer Electronic Cash System" that also is in heading and in the abstract only. Further nothing mentioned anything to do with "Crypto" or "Currency" even the word "Currency" he used it to explain the "physical currency" only. So bitcoin is no way any type of currency at all. Then for word crypto he bring it up only when explaining the need of an "electronic payment system based on cryptographic proof instead of trust"

So I'm 100% convinced and agreed to your statement that "the term cryptocurrency is abused and confusing in mainstream". Ok. Next then I did some googling just to check any reference related to the word "cryptocurrency" and to my no surprise cryptocurrency word was never used any time before early 2017 and that was the time of shitcoins .



Only one reference I found of "cryptocurrency" related to or near to Bitcoin is on the official website bitcoin.org in FAQ section of "Who created Bitcoin?". It was mention in a reference to Wei Dai as "Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai"



And that forced to me to check first reference of Sathoshi's white paper related "W. Dai". But unfortunately that also not anyway close to the term what we know today as "cryptocurrency".

In conclusion I'm convinced and I agree I did broaden the concept beyond bitcoin when I mentioned "cryptocurrency" so will try to rephrase one more time

Bitcoin:
"A Bitcoin is a electronic payment system of the world where gravity is so strong that nothing—paper money or even governments such as Central Banks—can escape from it.
The theory of cryptography predicts that a sufficiently compact mass (21million coins) can decentralize governments to form a new world."

very good post. now do the same thing with "blockchain" and i rain merits on you.

[Richy_T]

So I'm 100% convinced and agreed to your statement that "the term cryptocurrency is abused and confusing in mainstream". Ok. Next then I did some googling just to check any reference related to the word "cryptocurrency" and to my no surprise cryptocurrency word was never used any time before early 2017 and that was the time of shitcoins .

I believe you're mistaken. It was used fairly often (even the graph you show shows a small bump). It *was* a much smaller community though. Indeed, cryptocurrency.com was registered in 2009.

Bitcoin:
"A Bitcoin is a electronic payment system of the world where gravity is so strong that nothing—paper money or even governments such as Central Banks—can escape from it.
The theory of cryptography predicts that a sufficiently compact mass (21million coins) can decentralize governments to form a new world."

I don't believe cryptography predicts any such thing. In fact, that you use it that way makes me think you don't have a clear idea of what "cryptography" is. This is not an attack, I just think you possibly need to gain a broader knowledge of the things you're talking about.

[El duderino_]

img src free

https://twitter.com/breedlove22/status/1368664343525556226?s=21En

[Richy_T]

2011: "NEWEST HOTTEST CRYPTOCURRENCY!"

https://bitcointalk.org/index.php?topic=40473.0

[serveria.com]

Meanwhile a nice lil pump takes us back into $50k+ territory... 

[Syke]

Due to relativism your future already happened for some independent observer at the sufficient distance and acceleration.
You cannot re-visit your past, sure, but your past can still be observed by an independent observer, even in the future.
Not sure about visit, though, probably not, but you cannot even observe your past, while others can. Moreover, they probably can even observe your future, which did not happen for you yet.
No changing of the past, though.
Read more here about the block universe concept:
https://www.abc.net.au/news/science/2018-09-02/block-universe-theory-time-past-present-future-travel/10178386
more on the future:
https://www.bbc.com/reel/video/p04s223f/physics-suggests-that-the-future-has-already-happened
watch from approx 3min which explains the effect of motion on "time" reference.

Doesn't sound compatible with Quantum Mechanics, which is an actual theory that can be tested.

[xhomerx10]

my brother wanted to sell me his 'used' tesla a 1.5 years ago? 2 years...I just remember it was 7.5 BTC...I probably would have done this IF he would have

kept the BTC...I'd be sad ..but at least the brother would have some BTC. But 'missed that bullet' sheesh...7.5 BTC for such...I would be 'sad' now...very, very

sad.... so HODL.

Was paying my kids .1btc to rake the yard years ago. They are happy now.

I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten?

I THINK I got 0.33 BTC for running their chain for a week or so ..so they could setup POS with my 2013 KNC Jupiter Miner I had to 'dust off' after a couple years..the

last hurrah...everyone mined for PayCoin...I mined it on some exchange for BTC direct..


Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it

Brad

 lol GAW "went"
That's the one scam that never suckered me in with their pretty pictures of nonexistent mining devices.

[Biodom]

Due to relativism your future already happened for some independent observer at the sufficient distance and acceleration.
You cannot re-visit your past, sure, but your past can still be observed by an independent observer, even in the future.
Not sure about visit, though, probably not, but you cannot even observe your past, while others can. Moreover, they probably can even observe your future, which did not happen for you yet.
No changing of the past, though.
Read more here about the block universe concept:
https://www.abc.net.au/news/science/2018-09-02/block-universe-theory-time-past-present-future-travel/10178386
more on the future:
https://www.bbc.com/reel/video/p04s223f/physics-suggests-that-the-future-has-already-happened
watch from approx 3min which explains the effect of motion on "time" reference.

Doesn't sound compatible with Quantum Mechanics, which is an actual theory that can be tested.

why is that?
quantum mechanics is definitely symmetrical vs time (at least at the micro-level)

A curious property of time, which space does not have, is that it is unidirectional: particles traveling forwards in time are equivalent to antiparticles traveling back in time. Physical laws and interactions unchanged by this operation have T symmetry.

https://en.wikipedia.org/wiki/Symmetry_in_quantum_mechanics
here is a link to Aharonov's ideas (maybe not 100% physical consensus, though):
https://physicstoday.scitation.org/doi/10.1063/1.3518209

[lightfoot]

I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten?

Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it

*nod* And people made a *lot* of litecoin with those miners back when it was like $2-$3 a coin. Then.... it popped. KNC equipment really turned out to have a good sweet spot for several years, glad we all made out on it.

Kept some, spent some to pay for shipping, parts, power, etc. Interesting times they were.....

[AlcoHoDL]

Using the word "cryptocurrency" to describe Bitcoin is perfectly fine and fully correct. Bitcoin is indeed a cryptocurrency. There are many other cryptocurrencies (a.k.a. altcoins, shitcoins) which are not very much loved in these here parts. Let's not demonize the word just because it is used to also describe shitcoins.

Specifically to WO, since it is a Bitcoin-only thread, it is WO's unofficial netiquette to refrain from using the word "cryptocurrency" when referring to Bitcoin, which makes sense. Just simply call it Bitcoin. What I dislike in WO posts, is the general use of the word "crypto", in order to give credit to various shitcoins, usually of the big-block, propeller-head, or Shiba-Inu varieties. You know who you are, expect a bat-slapping and/or rusty pipe treatment. And rightly so.


In other news, Bitcoin seems to like the $50k club a lot, and doesn't want to leave... Number not go down, but number not go up either. Hopefully we'll see $60k in March, leaving $50k (a significant psychological number) behind for good, and clearing the way for the next significant psycho-number, which is $100k. Desensitized as most of us may have become, reaching that number will surely be a life-changing event for many of us. I'm pretty certain ("gut feeling has never failed me" and all—this is for Jay) that $100k will happen this year, and some even predict it will significantly exceed that. 2021 sure looks like it's going to be the best YTD for Bitcoin.

Onwards & upwards!

HoDL.

[philipma1957]

Meanwhile a nice lil pump takes us back into $50k+ territory... 

These sideways movements are really good for BTC .

  I would take 60 more days from 48k to 58k  then the huge jump close to or maybe breaking 100k level.

[heslo]

my brother wanted to sell me his 'used' tesla a 1.5 years ago? 2 years...I just remember it was 7.5 BTC...I probably would have done this IF he would have

kept the BTC...I'd be sad ..but at least the brother would have some BTC. But 'missed that bullet' sheesh...7.5 BTC for such...I would be 'sad' now...very, very

sad.... so HODL.

Was paying my kids .1btc to rake the yard years ago. They are happy now.

I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten?

I THINK I got 0.33 BTC for running their chain for a week or so ..so they could setup POS with my 2013 KNC Jupiter Miner I had to 'dust off' after a couple years..the

last hurrah...everyone mined for PayCoin...I mined it on some exchange for BTC direct..


Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it

Brad

 lol GAW "went"
That's the one scam that never suckered me in with their pretty pictures of nonexistent mining devices.

That was that Josh Garza fucker yeah? He ended up going to jail didn't he?

[wxa7115]

I helped a friend some time ago to buy a cheap notebook and setup Ubuntu on it for his daughter. Yesterday he showed me a letter from the school that she needs a Win10 Pro Notebook so that she can use O360 which all the lessons are based on.

Put win10 on a VM. Depending on your morals, you could don an eyepatch. (That doesn't really affect the point of what you're saying but fighting back always helps).

Can that be done on a cheap notebook? The latest Ubuntu requires 4 GB of RAM and Win 10 requires 2GB, maybe it could be a good idea to install a Linux distro which is lighter and run a Win 10 VM above it, or try to run the software needed with wine or one of its many forks and wrappers.

I feel like a jerk to say that, but those who trust their email communication to an Outlook server the internet almost deserve it. When will they learn?

ftfy

This position is a little bit too drastic for me. I think communication on the Internet can hit a sweet spot between effectiveness and safety. Of course, the right tools are needed, but they must be made widely available to the largely uninformed masses.

It can be done but people are lazy, we could help them and install everything they need but will they use it? At first yes but then they will get tired thinking it is not necessary and then they will get hacked anyway and then think the tools were useless.

[xhomerx10]

my brother wanted to sell me his 'used' tesla a 1.5 years ago? 2 years...I just remember it was 7.5 BTC...I probably would have done this IF he would have

kept the BTC...I'd be sad ..but at least the brother would have some BTC. But 'missed that bullet' sheesh...7.5 BTC for such...I would be 'sad' now...very, very

sad.... so HODL.

Was paying my kids .1btc to rake the yard years ago. They are happy now.

I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten?

I THINK I got 0.33 BTC for running their chain for a week or so ..so they could setup POS with my 2013 KNC Jupiter Miner I had to 'dust off' after a couple years..the

last hurrah...everyone mined for PayCoin...I mined it on some exchange for BTC direct..


Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it

Brad

 lol GAW "went"
That's the one scam that never suckered me in with their pretty pictures of nonexistent mining devices.

That was that Josh Garza fucker yeah? He ended up going to jail didn't he?

 He got sentenced to less than 2 years so he's probably out on his 3 years of supervised access now.  Too bad all the scammers dont get caught.

[heslo]

my brother wanted to sell me his 'used' tesla a 1.5 years ago? 2 years...I just remember it was 7.5 BTC...I probably would have done this IF he would have

kept the BTC...I'd be sad ..but at least the brother would have some BTC. But 'missed that bullet' sheesh...7.5 BTC for such...I would be 'sad' now...very, very

sad.... so HODL.

Was paying my kids .1btc to rake the yard years ago. They are happy now.

I remember signature campaigns that paid 0.1 BTC per week....remember PayCoin? Before GAW went completely rotten?

I THINK I got 0.33 BTC for running their chain for a week or so ..so they could setup POS with my 2013 KNC Jupiter Miner I had to 'dust off' after a couple years..the

last hurrah...everyone mined for PayCoin...I mined it on some exchange for BTC direct..


Wow....hell I used to send you like 1.5 BTC to fix various lots of KNC equipment ....hope you kept it

Brad

 lol GAW "went"
That's the one scam that never suckered me in with their pretty pictures of nonexistent mining devices.

That was that Josh Garza fucker yeah? He ended up going to jail didn't he?

 He got sentenced to less than 2 years so he's probably out on his 3 years of supervised access now.  Too bad all the scammers dont get caught.

2 years is too good honestly but at least he got something like you said. Far far farrrrr too many shitheads got away with too much back in the day. If they were smart with the coins they scammed they'd be sitting very pretty right now

[smartcomet]

Full disclosure
-I am NOT a $BTC maximalist
-In 46 yrs trading, I've never seen a more exciting market with a similar narrative
3. My largest current single non-real estate holding is Bitcoin.
Yet, for me, BTC is just another market to be traded, like Beans or T-Notes or Sugar

Last yeak, I read a book "Unknown Market Wizards" by Jack D. Schwager
in which Peter Brandt  is one of  the best traders.
As a 46 years trading veteran especially in pattern trading, he feels this bull run may go to 200-250K in September 21th 2021.
I hope he’s right, if so HOLD is best strategy now.
if not ...

[Biodom]

Full disclosure
-I am NOT a $BTC maximalist
-In 46 yrs trading, I've never seen a more exciting market with a similar narrative
3. My largest current single non-real estate holding is Bitcoin.
Yet, for me, BTC is just another market to be traded, like Beans or T-Notes or Sugar

Last yeak, I read a book "Unknown Market Wizards" by Jack D. Schwager
in which Peter Brandt  is one of  the best traders.
As a 46 years trading veteran especially in pattern trading, he feels this bull run may go to 200-250K in September 21th 2021.
I hope he’s right, if so HOLD is best strategy now.
if not ...

I read it too. To me, the author made it too restrictive by focusing on a consistent performance.
IMHO, a simple btc hodl would beat the heck of most of those traders in the final analysis (and no tax on profit), BUT, with gigantic drawdowns, of course.
One annoying brat in that book even made a fortune on shorting my favorite stocks-biotech.
Perhaps, a winning trade, taken biotech as whole and if you know how to do it, but very-very bad karma, imho.