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

[Hueristic]

I quite enjoyed jbreher and miss him.  

Yeah, what happened to the bear? I think I was away and then I saw a few posts mentioning he was gone but I didn't see any reasoning for it.

I also enjoyed his posts, even the ones that were bullshit big blocker.

He seems to me to be a good man just with a differing viewpoint.

Not to mention he is intelligent and has thick skin which are a few qualities sorely lacking in the world these days.

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[Hueristic]

Just of note, I tend to deliberately keep that argument out of here. It's not really relevant and tends to upset the natives. I'll usually only bring it in where I think it's directly relevant and then only in relation to BTC itself (i.e. I'll discuss capacity but not in relation to other coins which have addressed it).

That is the one drawback of this area, alot of the maxis (NGU evangelists) are blind and deaf to anything that even hints at not having current core as being the end all holy grail of code that God himself rode down on his chariot and scribed in stone for the filthy masses.

But it just them being close minded and shilling their bags without any other thought in their head.


*Disclaimer:

No I  do not ascribe to big blocks and think it is an attack vector.

I just am adult enough to be able to discuss it without frothing at the mouth.

[ChartBuddy]

Explanation

[cAPSLOCK]

Just of note, I tend to deliberately keep that argument out of here. It's not really relevant and tends to upset the natives. I'll usually only bring it in where I think it's directly relevant and then only in relation to BTC itself (i.e. I'll discuss capacity but not in relation to other coins which have addressed it).

I *sort of* appreciate this.  And I am sure there are some who would get hot under the collar.  But I personally think the scaling discussions are still of extremely high importance.  We are moving forward all of us having no idea where we are going. That's why I say "sort of".  I think it's an important discussion.  As long as it does not devolve into "You're dumb", "Read the whitepaper" type stuff. Which is mostly what reddit is.

I personally WANT someone to broaden my thought models.  If I could really plant a flag in the big block ideas in a way where I feel confident it would work.  I think Satoshi thought it might, for example, while Hal Finney seemed to be the proto small-blocker.

The white paper is always brought up. And Satoshi had not anticipated ASICS (who knows if that later Satoshi email is real where "he" talks about exactly that) and that changed EVERYTHING.  It made the idea of the "validation node" important.  Vitally important.  We discovered by this tech that between hashing, and consensus validation the latter *might* be more important, though they go deeply hand in hand.

Anyway, i welcome discussing this, and would take part in another thread if it should not happen here.

[Hueristic]

Scumbag mainstream news (ABC,CBS,NBC) reporting on shitdoge nft sale yet ignores El Salvador completely!

https://www.youtube.com/watch?v=do7LdXaBzxo

[ChartBuddy]

Explanation

[Richy_T]

The white paper is always brought up. And Satoshi had not anticipated ASICS (who knows if that later Satoshi email is real where "he" talks about exactly that) and that changed EVERYTHING.  It made the idea of the "validation node" important.  Vitally important.  We discovered by this tech that between hashing, and consensus validation the latter *might* be more important, though they go deeply hand in hand.

Many would have been happy with cautious size increases. There's no real justification behind the 1MB (as would be expected from it being implemented as an anti-DOS measure when blocks were tiny) and the theoretical maximum while still maintaining your goals is much higher than that.

I'd advise not getting wrapped up in Raspberry Pis. They are cool devices and I own many but they are not optimal for this kind of service by any means. They are radically underpowered and even within the realms of SBCs, there are more powerful options available. It's not a binary choice between cell phone processors from the early 2010s and supercomputers in datacenters.

I also disagree with the usefulness of "validation nodes". They don't have zero value but they're not as useful as people think and they're certainly not worth crippling the network for just so people can run them on sub-par hardware. If your security is worth $40 per transaction, it's certainly worth more than a $40 computer.

[Richy_T]

It would be nice if the price could stay up for a bit. It seems the only reason it goes up right now is so that it can slide soul-crushingly back down again.

Beginning to feel like that bear market again.

[JayJuanGee]

Whats going on? No Elon Tweet. Any other news?

That's right.

Before we do anything else (perhaps somehow related to dee king daddy?), let's wait to see what Elon has to say (our only source of relevant newses).

Anyone out there use Specter wallet yet?

I have a few favorite wallets.  Electrum is just the tried and true killer wallet.  I am also a big fan of Feather wallet which is really just electrum for Monero (hush Jay).

I've looked at it but not used it much yet, since Electrum has fulfilled all my personal needs and can also do multi-sig, just not as easily maybe? I have not really tried. But Specter is made by the same guys doing paid multi-sig services, Unchained Capital, and they do have a few videos.

It looks like they will cater to large hodlers much more than Electrum.

As for Feather, I was not aware of that ... I did hear there is a new atomic swapping thingy now between BTC and XMR, no need to go through any exchange. I don't have any Monero, but considering it for transactions or just to bounce it around in lieu of CoinJoin or other Bitcoin native privacy thingies.

Actually that sounds related to bitcoin, without pumpening anything.

You have a coin out there that can be used in terms of privacy, and there are various privacy routes that are available to bitcoin, including one that BTC users might want to atomically swap to Monero or use some other service to either anonymize coins already held or to engage in some kind of transaction that is personally prefered to keep private to the extent possible...   

[Torque]

Looks like countries hurry to adopt the "Bitcoin deterrent" for increased independence against oppressive banking and inflation. As a die hard peace lover it definitely ranks higher than nuclear deterrent.

Not to mention a hell of a lot cheaper to adopt, and more decentralized.

[Torque]

US inflation is at 5%.

But it is temporary.





Yes…
Brrrrr

Such bullshit numbers, such gaslighting. They talk 5% like it's the real number.

But since 2020 you see lumber prices at 300%, houses +20%, propane 150%, gas at the pump +30%, food at the grocery +20-30%. If prices didn't change much, pay close attention to the packing. They likely "shrinkflated" it.

I buy berries every grocery shop. A small carton of strawberries was $3.99 in 2019/2020. Now for the same size it's $5.99. Raspberries, blueberries, also nearly double.  Is that "inflation just up 5%"? No it is fucking not!

No even fucking close.

All lies.

[JayJuanGee]

US inflation is at 5%.

But it is temporary.





Yes…
Brrrrr

Of course, temporary.  By the way, do you have a link for that?



By the way, I mentioned the t-bone steak example of a wee bit more than doubling - probably a bit more than a year ago as compared to now, and I am not even sure if I have seen very many products in the grocery stores that have kept close to the same price or stayed within about 5%.. sure there are some examples, but still would they even come close to a mere 5%, I am having my doubts.  Of course, if we expand out to other things that people likely use or want to use such as housing, gas, electricity, construction, education, medical services, technologies such as computers and phones, communication services (internet), automobile, other transportation, personal care/grooming or other goods/services I am having troubles imagining containment of inflation to 5%, absent some manipulation of the data, and surely it does seem that people can actually see that they are being fed data that is not seeming to be very accurate in comparison to their life experiences (what else is new?)...

Edit: Torque made points with more specifics than me.. in the post just above my one.   

[Elwar]

Anywho, I think my point stands that you do not want to go there with your bitcoin.

Well maybe you (or me for that matter) are not afraid, but I would say the majority should be.

True, I know from my few projects that the vast majority will not be actually doing anything. Much less...moving to El Salvador. They will be sitting back clicking "Like" and hoping that it is successful so that it will affect their home town in a positive way. Or as a means of being able to say "See, it works there!".

Few people actually do anything. And those people will be able to research before going there on how to best protect themselves from the crime.

And like I said...it's great that El Salvador is considered a crime ridden shithole. That's great for the "Before" picture.

[OROBTC]

...

JJG 579188

I recently had my first physical exam as it had been a while, and I'm getting older...  Among the many things we discussed was his preoccupation with our HUGE problem with various elites (esp. .gov) LYING about so much.  He was very disheartened, and it's not just goobermint, it's so much else.  Well, yeah, Doc.  A Culture of Lies.  Ugh.

Our conversation crystallized something for me.  I believe even less what I am told, especially by the MSM, .gov officials, Banksters, etc.

But, my Dr. sure ain't perfect, even with the points we discussed.  He refused to give Rx's for Ivermectin and HCQ.  We're vaccinated, but we know MOAR pandemics are coming.  Yet he would not allow me to get them (and yes I know that they may not work, but that ought to be my decision).  Grrr...

[JayJuanGee]

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

-1 WO for that.

 

Fingers crossed this all keeps up, because if it does a bottom has been put in place.

Did you really say that a bottom might be in?

I can hardly believe it, but if it is coming from you... oh wait...



 

Jeebus, please someone throw a cold glass of water on me.

For some reason I went into /r/btc and started posting in there. I feel like I was swarmed by zombies.

But also, I have to admit, I kind of like how mad they are.  I am sorry they are losing, but I did not pick their side for them.

lol, I should check it out for a laugh.

Don't encourage him.

-2 WO for that one.. 

The trap is in the name, the BCH folks are in /r/btc.

Yes, this is because Theymos decided to purge r/bitcoin of dissenting opinions when there was only Bitcoin.

Oh Gawd.. not another nonsense discussion of supposed "censoring"?

Let's blame theymos for bcash tards being retarded and unwilling or unable to identify actual value.

[ChartBuddy]

Explanation

[OutOfMemory]

Wohoo!
Got a little fiat yesterday, no use for it, transferred it to an exchange, spent it on Bitcoin today.
At the exact top, of course  

The IMF is getting dirty, as i read on twitter today, researching legal consequences of El Salvador's switch to Bitcoin.
On the other hand, spotted some talks about a Bitcoiner $1b fundraising to make the IMF obsolete for ES.

Imho, the war is on. MSM trying to suppress the news, FUD and lies by governments...
The very early results of ES's move will define the initial momentum and further direction of this monetary conflict.

By definition, if a sovereign state declares an equity as legal tender, it has to be internationally recognized as a currency.
Sorry, no links for all that information, read it up on mah smartphone loosely on twitter while on the road.

[Richy_T]

But, my Dr. sure ain't perfect, even with the points we discussed.  He refused to give Rx's for Ivermectin and HCQ.  We're vaccinated, but we know MOAR pandemics are coming.  Yet he would not allow me to get them (and yes I know that they may not work, but that ought to be my decision).  Grrr...

Ivermectin is apparently available at vet supply stores. Not sure about HCQ but there is also the dark web (I haven't checked there in a while but with HCQ readily available in many countries, I'd bet it can be found easily).

[Toxic2040]

-1 WO for that.



-2 WO for that one.. 

nope

it has already been established that WOsMerit's are completely fungible...there will be no demeriting

you are of course free to burn any awarded WOsMerit's thereby reducing the amounts in circulation and potentially increasing their value

that is all


----------

the noon wall report at 10:42am

#dyor

Marge flips hair forward while presenting in dog form...obviously
1h


weak ichimoku signals on the shorter time frames
ok but not really powerful one way or another
a good recovery but unsure where to go next
patience
4h


daily squeezings continue towards a MA cross
D


smack in the middle of a weekly cross...just have to ride it out
W

#stronghands

[cAPSLOCK]

The white paper is always brought up. And Satoshi had not anticipated ASICS (who knows if that later Satoshi email is real where "he" talks about exactly that) and that changed EVERYTHING.  It made the idea of the "validation node" important.  Vitally important.  We discovered by this tech that between hashing, and consensus validation the latter *might* be more important, though they go deeply hand in hand.

Many would have been happy with cautious size increases. There's no real justification behind the 1MB (as would be expected from it being implemented as an anti-DOS measure when blocks were tiny) and the theoretical maximum while still maintaining your goals is much higher than that.

I'd advise not getting wrapped up in Raspberry Pis. They are cool devices and I own many but they are not optimal for this kind of service by any means. They are radically underpowered and even within the realms of SBCs, there are more powerful options available. It's not a binary choice between cell phone processors from the early 2010s and supercomputers in datacenters.

I also disagree with the usefulness of "validation nodes". They don't have zero value but they're not as useful as people think and they're certainly not worth crippling the network for just so people can run them on sub-par hardware. If your security is worth $40 per transaction, it's certainly worth more than a $40 computer.

I am among those who thinks reasonable blocksize increases would be a good thing.  I actually pointed out in the taproot activation thread here that the unsung best part of that being done well is it proves that Bitcoin can govern itself better than many had feared after the 2017 fight.  And I even mentioned that this (though a much more popular change) gave me hope that some day we could revisit block size increases as well.

As to nodes on RPis etc.  I agree it is a silly arbitrary measure to make that what we should be able to run a node on, although I do run a Pi 4, which it must be said is not a terribly under powered SBC, and is a requirement if you want to run a node, as anything below that cannot validate the chain fast enough to be useful.

But you bring up cell phone processors.  I think in some ways that is a more important measure.  Things like SPV, and neutrino are important ways to bring trust minimized validation to handheld computers, and i think in those regards we are going the right direction.

I think all the Luke Dashjr type "BLOCKS NEED TO BE SMALLER" arguments are misguided and do us harm.  I think Luke is a trainwreck as a person who takes a very extreme view on EVERYTHING.  The current Pope is an antichrist, the blocks are too big, we need to wear gas masks to keep from getting covid etc.  That combined with the dick measuring contest that the dark side of BTC Maxi culture brings us, and the small block ethos gets more attention than I think it needs.

I wish we had Hal with us still.  I feel like he would have some really good stuff to say about all this.  In fact I would trust him more than Satoshi himself, who I do not think quite had the long view or wisdom of the former.  Maybe it's better they are both currently silent (here's to cryogenics? )

I do think validation is perhaps more important than you do.  I do not want to trust that job to a small number of servers.  But I think we could raise the bar quite a bit before we get into trouble there.  I just want to make sure we avoid a "Davos" of Bitcoin forming.  Some place where the powerful nodes all gather and decide one day that it is in the best interest of mankind to mint another 21mm, and for our trouble we will split a simple 1mm amongst ourselves to cover costs, of course.

Every human endeavor has become corrupted that way eventually.  The longer we can keep that from happening to Bitcoin the better.  And I do understand that the big-blockers see small blocks as a bank takeover.  I just don't see that.  Banks don't need small blocks to remain necessary.