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

[modrobert]

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.

Bots which will ignore what you write and keep down voting all replies until you leave, or BCH paid shills, it's a cesspool, made the same mistake myself a while back.

Same goes for most of this forum. WO is the only thread I'm here for.

I ran out of merit, but yes, to some degree.

[Richy_T]

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.

[d_eddie]

A bit absent these days. Number seem go up. We on track for moon by end of cycle. All good.

[cAPSLOCK]

Yeah.  It's terrible.  I feel like i got my foot in a bear trap.



I run two nodes, of the 83000 on the network.

These bellcurve dwellers are a sad lot.

You might have been able to talk yourself into custodial wallets being OK but not everyone agrees. If you don't like being around people you disagree with then yes, you should probably stay out of there.

I would stress that my viewpoint has much more nuance than that.  I do not use custodial wallets (well very much... I try most everything).  And i do not think they are the best choice for all people.  AND I hope the people of El Salvador will begin to shift towards non-custodial lightning solutions since I think mostly they are using WoS so far.

I do not see that we can possibly "get rid of the banks" and have been making this point ad-nauseum for years.  Us in here??  Yeah we won't need them.  And interestingly neither will many of the people of El Salvador.  But most people are going to NEED to trust others.

My wife is brilliant, but she has no time for me to explain how our multisig wallets work.  I have beautiful instructions typed up in the vault for when the bus hits me.  She trusts me.  This is a good thing.

I *LOVE* being around people I disagree with.  An easy example:  You and I are falling on different sides of this argument, and I APPRECIATE the discussion.  As much of a iconoclast as he was around here I quite enjoyed jbreher and miss him.  But the signal to noise in /r/btc is mind numbing.  I would give some ridiculous examples but it would be a waste of time.

It's narratives, narratives all the way down.

[Richy_T]

I *LOVE* being around people I disagree with.  An easy example:  You and I are falling on different sides of this argument, and I APPRECIATE the discussion.  As much of a iconoclast as he was around here I quite enjoyed jbreher and miss him.  But the signal to noise in /r/btc is mind numbing.  I would give some ridiculous examples but it would be a waste of time.

It's narratives, narratives all the way down.

Meh, there's noise everywhere and to my eye, a lot of the noise in r/btc is from trolls (of the bitcoin maximalist and (non-bch) shitcoin variety). Though I have to say that I don't use Reddit anywhere near as much as I used to since they got hijacked by the left (though a few technical subs are still OK). I find bch less interesting these days anyway. Because it was formed from a split, there was a window where it had to succeed or fail and I think we're out of that window and success hasn't been attained. It's clear the honey-badger is still the honey-badger and now it remains to be seen how it deals with capacity issues (I am obviously not as optimistic for LN as you are).

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).

[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.

[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.