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

[OutOfMemory]

Not in the way like NFT's are handled on other chains/platforms, but maybe it would make some kind of sense on smart contracts of a dedicated sidechain, imo.
It just wouldn't make much sense to cram a bunch of bells and whistles into a rock solid blockchain that mainly does only one thing, but does this thing perfectly.
That would be very bad programming as well and that's also my main concern on blockchains like Vitalik's. They cram so much functionality into it, there is a good chance to integrate some vulnerability or even break the whole thing in some way.

Yes, the Liquid BTC sidechain supports NFTs.

https://bitcoinmagazine.com/business/raretoshi-nfts-on-liquid-bitcoin-sidechain

Thanks for the source, merited.

The price of wood is more or less back to normal now.

Not here around 
They even raised the price for raw wood lately, because the "lumberjack-industry" wasn't included in the covid price surge of processed wood.
I don't exactly know how much of my country is covered by forests, but it has to be a third at least, if not even a full half.
Next sectoral inflation: Dairy and milk products, coming up this fall, 10-14% rise.

Bitcoin: 

[1714289874]

1714289874

[1714289874]

1714289874

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[ImThour]

BREAKING: Michael Saylor’s MicroStrategy has purchased another $177 million worth of #Bitcoin - The company now holds a total of 108,000 $BTC

[Dabs]

That article about veblen goods, and "this is stupid, buy some just in case" makes the most sense. Lots of shitcoins all went up, no matter how stupid they are. In some ways, some people think Bitcoin is not going to last long, but in the same line of thinking, the shitcoins will simply last not as long. Make your money if you have to, but go back to king daddy. Or just buy king daddy and forget about the rest. The shitcoins may last another 5 years, maybe, but bitcoin is going to stick around for another 20. After that, it's going to stick around for the next 100 years.

You have 11k total known nodes, 4k of which are on Tor, and majority are running 0.21.1 (latest version as of this post), LN has more than 2k BTC capacity. Going to stick around for a really long time.

[ChartBuddy]

Explanation

[somac.]

BREAKING: Michael Saylor’s MicroStrategy has purchased another $177 million worth of #Bitcoin - The company now holds a total of 108,000 $BTC

10 years from now Microstrategy becomes worlds largest marketcap company.

[cAPSLOCK]

NFT's ?

Ah yes I hear rocks are the hot thing now.  about as useful as all the other NFT stuff.  I still don't get buying a PNG image, fight me.  

You're not buying a PNG image, you're buying the hash of a PNG image. You're right to not get it. We can still fight if you'd like.

This really is an offshoot of the most interesting part of the math behind Bitcoin (and PGP, and SHA etc) to me personally, as useless a divergence as it is.

SHA-256 allows us to feed an algorithm virtually any data and it will produce a single number out of a finite, but enormous set.  

It's just that this number is so big that it has the property of not being guessable.  Just because it's mega large.  And from so large a domain that collisions (two different input data producing the same result) although absolutely possible, will (probably?) never happen practically.  This along with reliable ways that a person can prove that THEY know the secret number, but without REVEALING it we have a system with which we can do all sorts of odd things.

The really neeto part is we are dealing with such large numbers that as far as we are concerned with our ~70-100 year lifespan, and all the processing power we can muster they will ACT as if they are from an infinite set, though they are not.  So we get all the advantages of a limited set of data, with many of the advantages of an infinite set just because it might as well be infinite as far as we are concerned.

This allows us to do new things.

I find it fitting that many NFTs are monkeys, or rocks, lol.  Because it is our monkey brains at work here.  Putting values on ephemeral things.  And rocks are one of the oldest forms of value we have.

I cannot say whether "NFTs" will continue to be valuable.  I find myself hoping not.  Simply because it is being interested in something shiny, but really missing the point.

It's like we have invented the wheel, but are currently obsessed with using it as a table.

[El duderino_]

We need a 10K pump to liven things up around here 

 Yeah a constant pump; not one of those clutched pumps!

I would prefer that over a f***ing dump…

Meanwhile lower 48’s 

[El duderino_]

[ChartBuddy]

Explanation

[goldkingcoiner]

[proudhon]

Still crashening just like I knew it would.

[xhomerx10]

We need a 10K pump to liven things up around here 

 Yeah a constant pump; not one of those clutched pumps!

I would prefer that over a f***ing dump…

Meanwhile lower 48’s 

 Yeah!  What's going on?? Saylor bought moar and it's dumping... strange.

[xhomerx10]

Still crashening just like I knew it would.

 You bastage!

[Dabs]

This really is an offshoot of the most interesting part of the math behind Bitcoin (and PGP, and SHA etc) to me personally, as useless a divergence as it is.

SHA-256 allows us to feed an algorithm virtually any data and it will produce a single number out of a finite, but enormous set.  

It's just that this number is so big that it has the property of not being guessable.  Just because it's mega large.  And from so large a domain that collisions (two different input data producing the same result) although absolutely possible, will (probably?) never happen practically.  This along with reliable ways that a person can prove that THEY know the secret number, but without REVEALING it we have a system with which we can do all sorts of odd things.

I used to hang around a lot in the Gaming / Gambling section, and where SHA256 and SHA512 were our favorite functions for provably fair gaming. Like dice and poker and stuff like that. Can make really fair raffles where no one can accuse the operator of cheating. SatoshiDice used to use HMAC-SHA512.

You can use it to pick a winner, shuffle a deck of cards, ... all looking randomly, but predictable .. or rather unguessable, but calculatable. It is a one way hash function after all. So you can then reveal the secret later and show, we picked a winner and we don't know who it will be, but it can be done again with the same input variables. Then stick in an extra one dependent on a block, or some future number that can not be changed (like tomorrow's lottery numbers).

[fillippone]

BREAKING: Michael Saylor’s MicroStrategy has purchased another $177 million worth of #Bitcoin - The company now holds a total of 108,000 $BTC

Pls note that this is the first time they are using their ATM facility to issue shares and use the proceeds to buy bitcoins.
very interesting.
Of course I wrote a post in my thread here.

Hey @El duderino_
what's so difficult about that?

[ChartBuddy]

Explanation

[Toxic2040]

[Toxic2040]