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

[cAPSLOCK]

The only way to make this clown-train stay on the tracks is to centralize it further.  Much further.

When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control?



https://twitter.com/BobMcElrath/status/1431263073227132929

[gembitz]

The only way to make this clown-train stay on the tracks is to centralize it further.  Much further.

When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control?



https://twitter.com/BobMcElrath/status/1431263073227132929

'Bitcoin hacker' ...lol 

[Toxic2040]

The only way to make this clown-train stay on the tracks is to centralize it further.  Much further.

When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control?



https://twitter.com/BobMcElrath/status/1431263073227132929

it will just be rolled back if there are any problems...dont worry about it

[ChartBuddy]

Explanation

[Biodom]

I sold nothing in 2017 (apart from all the fork coins). I felt like an idiot for quite a while, missing out on life changing money at the time, not knowing if/when it would return. Luckily for me, my greed or idiocy in 2017 has served me well as I’m sure you can imagine, looking at the price today.

I sold 6 on the way up to the ATH this year. I actually managed to buy them all back on the way down to 29k & still have over six figures in fiat in my bank account.

Initially I was planning to sell quite a lot of my stash during this bull run (laddered sells every $5,000 from $50,000 to $160,000 if we’re lucky enough to go that high or higher). After much thinking, there isn't much else to put your fiat in is there. I’m mid 30’s, there’s certainly no point having vast amounts of fiat in the bank is there. I plan to sell possibly 30% (which is still a lot of money as you can imagine) & invest a bit in property & the S&P500.
I’ll have more than enough cash aside too which will get me through the next 3.5 or so years until we start the ascent in the next bull market.

I don’t want to sell 75% of my stash at maybe $100,000 & see $700,000 per coin or something in 2025.

Playing around with big money is not easy, is it.

We are an elite band of gentlemen, our decisions will shape the future of our family bloodline.

Of course it is not easy, with a caveat: you cannot be truly responsible for future generations because you cannot "control" their future, apart from 1-2 generations (and even then only to a small degree).
Plus, the rule(s) against perpetuity would be enforced. In US they are already trying to limit what a trust can do. I am aware of South Dakota trusts, but even they could be reigned in eventually.

As far as stocks are concerned-many HNWI use VT instead of SP500 for some reason. Maybe it gives extra kick since fast growing economies contribute to it.

My tactic remains to be hodling almost all bitcoin (since I also don't know whether it would be 100K, 300K or something else) and trade around alts. Sticking to just bitcoin seems ineffective (as far as trading is concerned).

TL;DR: bitcoin is ONLY for accumulation and hodling, alts are for trading (if you chose the right one or a few).

We are an elite band of gentlemen, our decisions will shape the future of our family bloodline.

This is big responsibility toward our (future) lineage.

As someone often says: "It's not difficult to become rich. What is difficult is to stay rich".
Preserving our (your) multi-generational wealth is a gargantuan task.
But, as you beautifully stated, we are an elite band of gentlemen. Born on maths, hard money, and low time preferences, instead of greed, violence and advantage positions.

Another approach is give as much a possible to one generation and either skip or not skip one. I can see possible advantages in either approach, depending on personal circumstances.
Personally, I am targeting a skip, possibly, with maybe one exception.

[JayJuanGee]

TL;DR: bitcoin is ONLY for accumulation and hodling, alts are for trading (if you chose the right one or a few).

Very nice Biodom.

You happen to know a Gresham's law practice that works for everyone.  Whoaza!!!!! How did you get to be such a smartie pants?

[Hueristic]

The only way to make this clown-train stay on the tracks is to centralize it further.  Much further.

When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control?



https://twitter.com/BobMcElrath/status/1431263073227132929

This shit stain needs to die in a bonfire of its own making. Why its vulnerability that was known for over a year wasn't exploited is beyond me. If I was a Bitcoin Maxi with an original coin hoard I would have funded to take that crap down years ago.

The longer it exists the worse it is for bitcoin, as when it inevitable either changes to a centralized hosted database or fragments under its own weight the backlash from all the tards will be on Cryptography as a whole. We all know the bankers will fud that to the end of the earth stating it is a flaw in the entire decentralized model when its nothing more than shit coding and putting a scam ahead of sound principles. Its a sad fact that the longer it exists the more legitimate in the plebs eyes it is becoming.

[Biodom]

The only way to make this clown-train stay on the tracks is to centralize it further.  Much further.

When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control?

[img width =100]https://i.imgur.com/c32Wpec.png[/img]

https://twitter.com/BobMcElrath/status/1431263073227132929

This shit stain needs to die in a bonfire of its own making. Why its vulnerability that was known for over a year wasn't exploited is beyond me. If I was a Bitcoin Maxi with an original coin hoard I would have funded to take that crap down years ago.

The longer it exists the worse it is for bitcoin, as when it inevitable either changes to a centralized hosted database or fragments under its own weight the backlash from all the tards will be on Cryptography as a whole. We all know the bankers will fud that to the end of the earth stating it is a flaw in the entire decentralized model when its nothing more than shit coding and putting a scam ahead of sound principles. Its a sad fact that the longer it exists the more legitimate in the plebs eyes it is becoming.

1. OG maxi tried-remember DAO exploit?
2. Windows is still around when a few versions of it were crap.
3. Eth is not really in favor right now despite it being #2. There are others that seem to find favor with banksters. This could change back, of course.
4. A slow rollout of Lightning and smart contracts on bitcoin cased the proliferation of various blockchain "life forms". The ginie is unlikely to come back into the bottle.

[fr4nkthetank]

Preserving our (your) multi-generational wealth is a gargantuan task.

I dont know.  I mean, I dont know why you would want to preserve it, or have it in the first place.  If humanity is to evolve, we will have to let go of those primitive tribal instincts that hold us back.  It is a futile attempt anyway as I dont really know anyone who still has generational wealth from the roman empire.  Could be wrong on that, but the point still stands.
edit:  Better to build things that will benefit all of humanity for all its duration

[Toxic2040]

doubled 2021 rally 
dunno..hopium anyway

dyor

stronghands

[Hueristic]

This shit stain needs to die in a bonfire of its own making. Why its vulnerability that was known for over a year wasn't exploited is beyond me. If I was a Bitcoin Maxi with an original coin hoard I would have funded to take that crap down years ago.

The longer it exists the worse it is for bitcoin, as when it inevitable either changes to a centralized hosted database or fragments under its own weight the backlash from all the tards will be on Cryptography as a whole. We all know the bankers will fud that to the end of the earth stating it is a flaw in the entire decentralized model when its nothing more than shit coding and putting a scam ahead of sound principles. Its a sad fact that the longer it exists the more legitimate in the plebs eyes it is becoming.

1. OG maxi tried-remember DAO exploit?

Of course and therein lies the biggest rub I have with Eth, if its not immutable it does not provide the basics of what the Cryptographic revolution is all about. Not centralized trustless system is the cornerstone on this tenant!

But you cannot equate this exploit an actual concerted financially backed adversarial agenda.

2. Windows is still around when a few versions of it were crap.

Winblows had first mover advantage among a host of many other differences how can you possibly compare the two?

This is apples and oranges, actually its not even, its apples and motorcycles.

3. Eth is not really in favor right now despite it being #2. There are others that seem to find favor with banksters. This could change back, of course.

Eth is very similar to the banking system and I think that is why it is going so far even with all its broken parts. the system finds value in it. I guess the fraudsters (bankers) see opportunity there and its not strong like bitcoin and can be smashed by any government that wants to with little effort.

4. A slow rollout of Lightning and smart contracts on bitcoin cased the proliferation of various blockchain "life forms". The ginie is unlikely to come back into the bottle.

The infighting that started with Bitcoin forking has been the diversion shitcoins like ETH needed to proliferate and I'm not entirely sure the movers in that scene did not have the motivation to weaken Bitcoin as a whole as their agenda. That is one reason I was doing research in the past to see why there was nothing being pushed but stupid choices for the fork.

[Dabs]

When I used to run one of my provably fair raffle games, it was all in BTC with no regard to the fiat price of BTC. You put in BTC, and if you won you get the prize in BTC, and since it was blockchain based, your transaction was your ticket and was included in the calculation of who won the prize. It's similar to how dice was calculated using SHA256 hashes of your bet.

Sure, you could get caught up in the moment, but when push comes to shove, you gotta attempt to figure out how much value you have whether you are calculating present value or future value.

Most blockchain based games, or games that accept payments or deposits in bitcoin (or other shitcoins) are instant or over very quickly, so most people don't pay attention to the value of the coin. Some bets take awhile, in sports or what, like a few days, again, that's not so much a big difference if you win and the total value is less than when you started unless they converted it to fiat or dollars.

Raffles or lottery styles can get tricky as they used to run from a few days to a week or even to a month, but usually, the winner gets a lot more than what they put in because if there 10 other players, 9 lost. It would suck if you bet 1 BTC, 9 others bet 9 BTC, you win a week later, and the 10 BTC prize is worth less in dollars than what you put in 1 BTC a week ago.

That used to happen, but that was a long time ago when BTC was below $10.00 per coin. Or below $100.00. I don't think it will be an issue these days despite the volatility.

[ImThour]

Swapped all my AXS profit to BTC. Bought at $3, sold at $70.
Let's go boys.

[Richy_T]

I dont really know anyone who still has generational wealth from the roman empire.

And that's just the way they like it.

Generational wealth arises from biological imperative. If you want to see how altruism factors in, I recommend "The Selfish Gene" which delves into it a little.

[ChartBuddy]

Explanation

[Dabs]

Preserving our (your) multi-generational wealth is a gargantuan task.

I dont know.  I mean, I dont know why you would want to preserve it, or have it in the first place.  If humanity is to evolve, we will have to let go of those primitive tribal instincts that hold us back.  It is a futile attempt anyway as I dont really know anyone who still has generational wealth from the roman empire.  Could be wrong on that, but the point still stands.
edit:  Better to build things that will benefit all of humanity for all its duration

Ideally, we'd like to give something to our heirs when we go. Some tribes have something about 7 generations in the future, but that deals particularly with how they treat their living space or homes or farms or forest or whatever.

Today, in the modern world, we see a few generations of family wealth. It is simple if everyone were to grow up and work and make their own money, then they can add on whatever their parents had, and make it grow to make more money. The issue usually is with the 3rd generation, they become spoiled or lose the money in all sorts of stupid or unimaginable ways. If they simply did not touch it, it would still be there, less inflation, but with the growth of whatever long term investments they had, although it can take years for some other countries.

I know what to tell my kids, and maybe my grandkids, and how they should handle our wealth (including their wealth). I just don't know if they will all actually do it. It works best from a poor generation to the next one, because usually the next one experiences a little hardship and work for a living. Their inheritance is just extra on top. It's the generations after that ...

[eXPHorizon]

Correct. Wealth passes and only the Memories remain how they Got that Wealth which breeds hate and sets up the family with Wealth for a certain demise.

One way or the other.

What truly remains and is Loved through history by all is Love and Love for Humanity.

That either by inventions or a deed that flips the world for the better.

[eXPHorizon]

I swear I predicted that either JJG Will comment or Nutildah

They are two Peas in a pod 😂

[cAPSLOCK]

The only way to make this clown-train stay on the tracks is to centralize it further.  Much further.

When are the masses going to finally realize that this causes it to lose ALL the advantages of Bitcoin, AND take on some serious negative aspects? And that running it on a blockchain is actually stupid when you should just run it on a SQL database that the people who control it... well... control?

[img width =100]https://i.imgur.com/c32Wpec.png[/img]

https://twitter.com/BobMcElrath/status/1431263073227132929

This shit stain needs to die in a bonfire of its own making. Why its vulnerability that was known for over a year wasn't exploited is beyond me. If I was a Bitcoin Maxi with an original coin hoard I would have funded to take that crap down years ago.

The longer it exists the worse it is for bitcoin, as when it inevitable either changes to a centralized hosted database or fragments under its own weight the backlash from all the tards will be on Cryptography as a whole. We all know the bankers will fud that to the end of the earth stating it is a flaw in the entire decentralized model when its nothing more than shit coding and putting a scam ahead of sound principles. Its a sad fact that the longer it exists the more legitimate in the plebs eyes it is becoming.

I don't think it goes away.  There is too much invested in it.  Money, code, hype.  And it can keep failing over and over and people will just excuse it because that is what we have done with centralized money for centuries.  We are comfortable with it's sorts of failures.  And too many people are either blinded by the contraptions you can build with it, or see it as some way to make money out of nothing (just about the ENTIRE DeFi space).

The only hope, as I see it, is for the work being done on that chain (and all the clones) will be field tested there in that sandbox, and the few things that actually have value will be brought over to run on side/drive/xxx-chains atop Bitcoin.

We are both Monero believers, and I am actually GLAD to see the somewhat centralized Liquid side chain adopt confidential transactions.  This is a step in the right direction.

I also own a B-JDE token on liquid (this will buy me a mythical Jade h/w wallet when they ever exist).

I have a very bad taste in my mouth for token issued atop something else, so part of my feels like what blockstream is doing is recreating Ethereum.  Yet, if they are successful then what they are ACTUALLY doing is recreating it the RIGHT WAY ... a way that the base layer is not touched by all the nonsense.  It can just be MONEY like it is supposed to be, and as a side bonus allow for rooting other chains like the LIQUID chain...

[Toxic2040]