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

[JayJuanGee]

I believe that within 30 years bitcoin will be worth around 1billion USD in todays money.

So the total value of all bitcoins would be... 100x of worldwide wealth?

Seems that Arriemoller is accounting for ongoing denigration of the dollar - so maybe $10million and $1billion will be the same?  hahahahahaha.. but I see your point, Phil_S.

Here, I highlighted the relevant parts in bold.

Ok fair enough.. I missed that point to make it seem that Arriemoller is even more out of touch - even though I believe that I had already largely suggested that Arriemoller is/was out of touch, even though I started to warm up to some of his ideas later on in terms of any kind of suggestion (or inference) that value could be created through bitcoin too (even though he did not exactly present the matter in those kinds of value creation terms).

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[julian071]

OT: So this is just how fucked up inflation has gotten.

In 2000 if you had taken your life savings and kept it in $USD fiat, you would now have lost ~37% of your purchasing power.
https://www.in2013dollars.com/us/inflation/2000?amount=1

So if you had $1M of paper money in 2000, it would today only buy $630,000 worth of goods.

Ironically if instead of dollars you had put it all into $1M of pre-1983 pennies, you would now be up 6.78X your money.

So if in 2000 you had instead dumped $1M into pure copper pennies (or bars), you would now have $6.78M, and roughly ~$4.27M worth of purchasing power.

Even fkn lowly copper has trounced fiat.

37% in 21 years is just regular inflation of less then 1.5% per year. With all the money printing and production down right now there could  be inflation of a whole other level in another year or two. Complicating matter is that to hedge against inflation, one could just buy assets, (stocks, real estate), say by using insanely cheap borrowed money, thereby both increasing the money supply and driving up prices of those assets. Stocks - not a really big problem, but real estate means higher rents for businesses which they will price in etc etc.

[lightfoot]

Well, in the "science" category here I got the second shot of moderna yesterday. In a nutshell:

Didn't hurt going in which was nice.
Felt sleepy an hour or two later, took a little nap.
Then up till midnight, went to bed.
Woke up at 4 with a slight sore throat and when I breathed in all the way it tickled. Odd. Went back to sleep.
Woke up at 10am feeling better, arm did ache when I was lying on it.
Went about the day in slow mode (not a lot going on) but I get tired easily so I have been napping.

That's it so far, no fever, spots, delerium, etc. I did just wake up from a dream about bitcoin and bears, here's about what it was like....



Will see how I am tomorrow.

[Farmer Bill]

OT: So this is just how fucked up inflation has gotten.

In 2000 if you had taken your life savings and kept it in $USD fiat, you would now have lost ~37% of your purchasing power.
https://www.in2013dollars.com/us/inflation/2000?amount=1

So if you had $1M of paper money in 2000, it would today only buy $630,000 worth of goods.

Ironically if instead of dollars you had put it all into $1M of pre-1983 pennies, you would now be up 6.78X your money.

So if in 2000 you had instead dumped $1M into pure copper pennies (or bars), you would now have $6.78M, and roughly ~$4.27M worth of purchasing power.

Even fkn lowly copper has trounced fiat.

It is even worse than that. You used 2013 for your calculation.

For 2000 to 2021 calculation is 54%.

There is a lot to be said for keeping some metal, any metal even R0ach's favorite silver.

Gold 2000 $282, 2021 $1750

Of course it needs to be kept in small units and within easy reach, not in a Swiss Vault.

Or it becomes like BTC in 3rd party custody, not your keys not your coin.   

Governments love inflation to reduce their debt.


 

[BitcoinBunny]

Well, in the "science" category here I got the second shot of moderna yesterday. In a nutshell:

Didn't hurt going in which was nice.
Felt sleepy an hour or two later, took a little nap.
Then up till midnight, went to bed.
Woke up at 4 with a slight sore throat and when I breathed in all the way it tickled. Odd. Went back to sleep.
Woke up at 10am feeling better, arm did ache when I was lying on it.
Went about the day in slow mode (not a lot going on) but I get tired easily so I have been napping.

That's it so far, no fever, spots, delerium, etc. I did just wake up from a dream about bitcoin and bears, here's about what it was like....



Will see how I am tomorrow.

"...Little did Goldilocks know that whilst she was out visiting her grandma, the three (male!) bears had eaten her prepared porridge and had been jacking off into the porridge bowl all day...."

[marcus_of_augustus]

shiny new 56K ... seems sooooo old now

[marcus_of_augustus]

Well, in the "science" category here I got the second shot of moderna yesterday. In a nutshell:
...
That's it so far, no fever, spots, delerium, etc.

... the blood clotting and stroke should happenly quickly, so that's merciful at least.

... got a plan for you BTC? WO in your Last Will and Testament?

[sirazimuth]

My apologies for not scanning back to see if this has been touched on already.
Too busy with other projects to spend much time here catching up with 3 million pages...., anyway my 2 cents...


So I actually I've always been on on board with a lot of Bill Maher positions and especially his religion views.
However after watching his latest rant on crypto (yeah sorry jay I said crypto, because reasons, don't have a hissy)
His jokes about it sound so cliché, he's obviously a no coiner and only listens to other no coiners and doesn't have a fucking clue in this area except what you read in msm.
Bill, love your humor on other subjects dude, but on this particular subject you sound like a clueless boomer stuck in the nineties.
Don't rant about something you know nothing about.
You just lost my respect....
And I'm a boomer.

https://www.youtube.com/watch?v=HaJpYjO136o

[philipma1957]

Well, in the "science" category here I got the second shot of moderna yesterday. In a nutshell:
...
That's it so far, no fever, spots, delerium, etc.

... the blood clotting and stroke should happenly quickly, so that's merciful at least.

... got a plan for you BTC? WO in your Last Will and Testament?

Ahh a freedom fighter anti vaxer.

Asked yourself this if the governments of the world really want to kill off a ton of people do they want to kill off the sheeple that are easy to rob and obey the rules. Nope

they would want to kill off freedom fighting resisters.

So these vaccines will protect the sheeple taking them from the covid 23 that is already in the lab.

The anti vaxers will fall like flies in 2023.

I present this theory to all anti vaxers.

Not because I am pro vaxer and a sheeple but because I want anti vaxers to realize a possiblity that no one else mentions.

So please present

A government good shot good.
B government good but stupid shot bad.
C government evil  out to kill sheeple ie vaxers
D government  evil out to kill freedom fighters ie anti vaxers.
E some other unmentioned case of reality happens to be more precise.


I present this as I weighed the math as best I can.
I know my wife had it in Jan 2020 and it almost killed her. Her lungs are finally getting back to normal after 16 months.

I also had it and need treatment for the damage it did. I will need surgery to repair the damage.

[d_eddie]

My apologies for not scanning back to see if this has been touched on already.
Too busy with other projects to spend much time here catching up with 3 million pages...., anyway my 2 cents...


So I actually I've always been on on board with a lot of Bill Maher positions and especially his religion views.
However after watching his latest rant on crypto (yeah sorry jay I said crypto, because reasons, don't have a hissy)
His jokes about it sound so cliché, he's obviously a no coiner and only listens to other no coiners and doesn't have a fucking clue in this area except what you read in msm.
Bill, love your humor on other subjects dude, but on this particular subject you sound like a n clueless boomer stuck in the nineties.
Don't rant about something you know nothing about.
You just lost my respect....
And I'm a boomer.

https://www.youtube.com/watch?v=HaJpYjO136o

Being a seasoned comedian, he's probably reluctant to use a script by some 20-30something who might actually have a clue. It doesn't even take a WO-er to see what he's left with for what it is.

Jokes for nocoiners, from a fellow nocoiner.

Nothing to see, folks, move on please...

[sirazimuth]

My apologies for not scanning back to see if this has been touched on already.
Too busy with other projects to spend much time here catching up with 3 million pages...., anyway my 2 cents...


So I actually I've always been on on board with a lot of Bill Maher positions and especially his religion views.
However after watching his latest rant on crypto (yeah sorry jay I said crypto, because reasons, don't have a hissy)
His jokes about it sound so cliché, he's obviously a no coiner and only listens to other no coiners and doesn't have a fucking clue in this area except what you read in msm.
Bill, love your humor on other subjects dude, but on this particular subject you sound like a n clueless boomer stuck in the nineties.
Don't rant about something you know nothing about.
You just lost my respect....
And I'm a boomer.

https://www.youtube.com/watch?v=HaJpYjO136o

Being a seasoned comedian, he's probably reluctant to use a script by some 20-30something who might actually have a clue. It doesn't even take a WO-er to see what he's left with for what it is.

Jokes for nocoiners, from a fellow nocoiner.

Nothing to see, folks, move on please...

This John Oliver piece, though much older and dated, is sooo much better. And hilarious.
IF you haven't seen and don't mind dated material, and have 30 minutes to spare I highly recommend. He nails it. (as John Oliver usually does.)

https://www.youtube.com/watch?v=g6iDZspbRMg

edit...I just watched it again...yup, brilliant!

[heslo]

Well, in the "science" category here I got the second shot of moderna yesterday. In a nutshell:
...
That's it so far, no fever, spots, delerium, etc.

... the blood clotting and stroke should happenly quickly, so that's merciful at least.

... got a plan for you BTC? WO in your Last Will and Testament?

Ahh a freedom fighter anti vaxer.

Asked yourself this if the governments of the world really want to kill off a ton of people do they want to kill off the sheeple that are easy to rob and obey the rules. Nope

they would want to kill off freedom fighting resisters.

So these vaccines will protect the sheeple taking them from the covid 23 that is already in the lab.

The anti vaxers will fall like flies in 2023.

I present this theory to all anti vaxers.

Not because I am pro vaxer and a sheeple but because I want anti vaxers to realize a possiblity that no one else mentions.

So please present

A government good shot good.
B government good but stupid shot bad.
C government evil  out to kill sheeple ie vaxers
D government  evil out to kill freedom fighters ie anti vaxers.
E some other unmentioned case of reality happens to be more precise.


I present this as I weighed the math as best I can.
I know my wife had it in Jan 2020 and it almost killed her. Her lungs are finally getting back to normal after 16 months.

I also had it and need treatment for the damage it did. I will need surgery to repair the damage.

Well fucking said dude; hope you're well!

[d_eddie]

-multisnip-

Bill Maher
His jokes about it sound so cliché, he's obviously a no coiner
you sound like a n clueless boomer stuck in the nineties.
Don't rant about something you know nothing about.
You just lost my respect....
And I'm a boomer.

https://www.youtube.com/watch?v=HaJpYjO136o

Jokes for nocoiners, from a fellow nocoiner.

Nothing to see, folks, move on please...

This John Oliver piece, though much older and dated, is sooo much better. And hilarious.
IF you haven't seen and don't mind dated material, and have 30 minutes to spare I highly recommend. He nails it. (as John Oliver usually does.)

https://www.youtube.com/watch?v=g6iDZspbRMg

edit...I just watched it again...yup, brilliant!

Dan say EOS to da moooon!?

[xhomerx10]

[shahzadafzal]

Yo, cheeky fella!!!

[JayJuanGee]

yeah sorry jay I said crypto, because reasons, don't have a hissy

you shouldn't say my name then.   

and don't say bloody mary three times, either.   

[philipma1957]

yeah sorry jay I said crypto, because reasons, don't have a hissy

you shouldn't say my name then.  

and don't say bloody mary three times, either.  

No worries jay I won't say that word (cryp..)

but I will say this one 3 times.

doge
doge
doge

Please notice pt size is a factor of 3 

[sirazimuth]

Hey there all you Wall Observer Legendary Libertarians!!

Hot off the press bros!

https://soundcloud.com/sirazimuth/legendarylibertarians10

GO BITCOIN

[Arriemoller]

Hal Finney used $200 trillion as estimation for worldwide wealth.

He divided that number by 20 million bitcoins, and the result is $10 mil per bitcoin estimation.

Ok, sounds more reasonable, but still, Worldwide wealth doesn't matter, that's in no way a cap on any commodity.

Is there a historical example of some commodity that worth more than worldwide wealth?

I don't know, and I'm too tired to look.

Of course there no such examples.

It should be obvious:
The price of all gold in the world never exceeded the worldwide wealth.
The price of all copper in the world never exceeded the worldwide wealth.
The price of all real estate never exceeded the worldwide wealth.

Because the worldwide wealth is the sum of all that stuff.

Like I said, I don't know where Hal got his numbers and if those numbers included all commodities in the world or just all fiat money.

If all commodities are included, then yes world wide wealth will grow with the growth of the value of all commodities, if not, then see my example.
We have to agree on what Hal meant before we can take this discussion any further.

But in any of the two cases, world wide wealth is not a cap per se, or rather, in your case, it moves all the time. You can either go above it, as in my example or it will grow with the growth of the commodity thus letting the commodity go as high as it pleases.
Going above 10 mil is in any of the cases not in any way impossible.

Edited.

[Arriemoller]

@Coindesk
JUST IN: #Bitcoin 's biggest upgrade in years, Taproot, has started the activation process. If enough miners signal support before August 11, it will be online in November. @TheBlueMatt @benthecarman @bitentrepreneur
By @AsILayHodling
https://t.co/iqkPFRcA6q
https://twitter.com/coindesk/status/1388588797106036744?s=21



The forums very own achow101 ——->


@achow101
Signaling for the Taproot Speedy Trial has now begun. The first block whose signal actually counts is the next block at height 681408
https://twitter.com/achow101/status/1388586979063967747?s=21



@DocumentingBTC
#Bitcoin  Taproot activation has started!
https://twitter.com/documentingbtc/status/1388589809380335624?s=21



@DocumentingBTC
#Bitcoin  Taproot activation has started!

If 90% of blocks mined within the next difficulty period, signal for the update, (or another period before August 11th) Taproot "locks in" for November this year.
https://twitter.com/documentingbtc/status/1388590450072768516?s=21




Follow Taproot Activation progress here ——->

https://taproot.watch/

What's taproot and why do we need it?

In brief: Taproot is the first step to have many other nice things in Bitcoin Fungibility (privacy).

The ultimate goal: Cross Input Signature Aggregation, which ultimately will make every bitcoin transaction look like a conjoin.
Learn more here:

Taproot Proposal
A Treatise on Bitcoin and Privacy

Maybe it's too soon, but things started rolling quite slowly.


According to Taproot.watch only a few miners with a cumulated hashpower of little more than 25% have been signalling activation:

Thanks.