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

[JayJuanGee]

Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies

https://finance.yahoo.com/news/carbon-negative-bitcoin-etf-launch-112722279.html

It seems like Canadians are after all the ETFs left over by the USA...

"carbon negative" mumbo jumbo.. what a bunch of baloney..

Yes, it's mostly BS, as cAPSLOCK swiftly pointed out.

I have exactly ZERO problem with this existing.  Just like if you want to buy only organic apples.  Or more apropos if you choose to buy your energy from a provider that buys 100% renewable to offset your use (They market this like you are actually using only renewable energy when in fact you are paying for the production, not the use of renewables... you house uses energy from coal, just like you next door neighbor who does not give a crap).

The way I see it, it's all good for bitcoin.

Hurr durr too much energy used for magic internet money... but wait... it's GREEN!
So now we have green(washed?) bitcoin in the form of an ETF. So go buy that if you want to save the planet.

However, what I care about the most about new ETFs is: physical backed, redeemable in kind (meaning: in corn)?

Physical backing is good for SEC (or equivalent) clearance, because it gives the issuer 100% insurance against wild price swings, which the honey badger is quite fond of. Redeemable in kind is good for OGs and hodlers of both actual corn and ETF shares, because it gives the OG/hodler good insurance against fuckery, and it forces the issue to buy some moar if anyone wants to redeem a chunk.

Unfortunately, nowhere in that Yahoo Finance article are these essential features mentioned.

Of course, many longer term bitcoiners recognize and appreciate the value in direct bitcoin ownership and the ability to claim your coins, upon request.  

For sure a lot of people want to gain exposure to bitcoin through various financial instruments, and they do not know, appreciate or understand the value of direct custody or abilities to demand custody.  Sure through the years we might well have to learn more about these kinds of direct custody values and the abilities to demand immediate custody.. and people tend to contract away those kinds of rights, and sure financialization of bitcoin is still likely to create UPwards and UPpity price pressures on the corn, but we should not be fooling ourselves into believing that a lot of those instruments create more corn than exist, and some of those third party custodians are increasing their chances of getting their asses handed to them if they don't adequately protect their lil selfies with enough actual corn in their holdings in the event that king daddy decides to go on a bit of a face-melting UPpity that could end up punishing some of those kinds of folks.. perhaps? perhaps?

Are your nodes green capswock (Chinese cooking instrument)?  What about dee lighting ones?  The word lightning does not sound very green to me, either.  

The node I am working on today.  Takes 3.4watts.  It's on 24/7.  It costs less than 1 cent a day to run, and under 3 dollars a year.

It uses less energy than a nightlight.  It would be considered EXTREMELY environmentally friendly.

Yes.  And, some peeps would love to receive more details regarding what you be up to.  I suppose you don't have any problems with that because you have nothing to hide, right?  You know that we need to keep track of some of the details in order that the information is credible and we can get a rating for our jurisdiction, and I know that you gots no problem with that either, right?  It's not a BIGGie, right?  It's zero problem, right?

[cAPSLOCK]

Yes.  And, some peeps would love to receive more details regarding what you be up to.  I suppose you don't have any problems with that because you have nothing to hide, right?

I have no problem at all with people wanting to know what I am up to.

[JayJuanGee]

Yes.  And, some peeps would love to receive more details regarding what you be up to.  I suppose you don't have any problems with that because you have nothing to hide, right?

I have no problem at all with people wanting to know what I am up to.

Oh gawd....  

Have you even heard of the thingie of this thread.. king daddy?

(no I am not calling you king daddy, I am calling you capswock, the cooking tool.. yes, tool of a fool
 --  #nohomo)

[NIZZAONE]

 

[marcus_of_augustus]

.... leftie Guardian FUD about bitcoin El Salvador experiment
https://www.theguardian.com/world/2021/aug/30/scepticism-grows-in-el-salvador-over-pioneering-bitcoin-gamble

[NIZZAONE]

.... leftie Guardian FUD about bitcoin El Salvador experiment
https://www.theguardian.com/world/2021/aug/30/scepticism-grows-in-el-salvador-over-pioneering-bitcoin-gamble

THE WAR HAS JUST BEGUN

[marcus_of_augustus]

Cutting middlemen fees frees resources for the more important things.

... I saw some economic analysis once that showed transaction friction contributes/detracts from GDP like the 4th power, it's a powerful multiplier if that's the case

... makes sense though, the easier it is to trade, the more people trade more.

... AML/KYC, reporting requirements, bank fees, levies, duty, vat, gst ... it's all transactional friction and huge drag/hindrance to trade

[ChartBuddy]

Explanation

[shahzadafzal]

Timechain wow I love it… I think timechain is more appropriate then block-chain. It’s really the time stamps which keeps the records and we record the transactions in a specific “time” once and for all, there’s no reversal no undo.

[marcus_of_augustus]

^^^ yes very few grokked this, it's a chain of time-stamped tx blocks, forming a timechain

[El duderino_]

 

I welcome you, but you must be new at the WO

Like this meme is been posted 37 times or something 

[wxa7115]

...For sure, it is going to take a decent amount of time to both get bitcoin to sink into the heads of the masses of normies, and even some folks who in invest into bitcoin do not really understand or appreciate some of the deeper aspects of bitcoin...

When I see images like that it reminds of a book I read long time ago in which the author described two conferences which were taking place at the same time, the first one was about entry and exit strategies and the conference was full of people taking notes and excited about the possibilities of becoming successful investors and traders.

The other conference was about money management and there were only ten people there and a few of them did not seemed very interested on the topic at hand and eventually left. leaving only 6 people at the conference, the author asked the phone numbers of those people and a few years later called them, he could not reach 2 of them but the remaining 4 became successful investors.

If the masses instead of concentrating on when to buy and sell took the effort to understand bitcoin even at a superficial level they will do way better financially than with whatever strategy they implement to buy and sell but for some reason they never think about this.

[NIZZAONE]

 

I welcome you, but you must be new at the WO

Like this meme is been posted 37 times or something  

allways the same with them WO noobs... 🙈

[ChartBuddy]

Explanation

[vroom]

Timechain wow I love it… I think timechain is more appropriate then block-chain. It’s really the time stamps which keeps the records and we record the transactions in a specific “time” once and for all, there’s no reversal no undo.

This is a good read about bitcoin and time: https://dergigi.com/2021/01/14/bitcoin-is-time/

[JayJuanGee]

Cutting middlemen fees frees resources for the more important things.

... I saw some economic analysis once that showed transaction friction contributes/detracts from GDP like the 4th power, it's a powerful multiplier if that's the case

... makes sense though, the easier it is to trade, the more people trade more.

... AML/KYC, reporting requirements, bank fees, levies, duty, vat, gst ... it's all transactional friction and huge drag/hindrance to trade

Overall aspects of this idea of free trade sounds like it is in the ballpark of correct, but bitcoin seems to be more than just a pigeon-holing of "free trade."

and, I am of the opinion that there is not necessarily anything bad with some of the taxing ideas that allow for government.. because government implies some abilities to go beyond individuals in terms of some goods and resources that have community (public) aspects to them.

To me, it seems that  some matters, interactions and use of resources do not get resolved in and of themselves. .. and of course, bitcoin can bring a lot of accountability to various governmental systems, but it does not take away the idea of public goods or the fact that if some individuals were left to their own devices they would consume way more than anything even close to their fair share...   I don't claim to know the solution, even though part of consensus as well would be that no one would necessarily know the solution either except for finding some balances.. and bitcoin likely brings a lot more fairness to this process over the status quo systems in which balances are frequently found in ways that hide some of the value robbing that is taking place over the public and ends up benefiting a narrow swath of disparately influential people.

allways the same with them WO noobs... 🙈

Not always exactly the same.

there is newbie variance

and sure there are some dumb-ass commonalities, too.

.. Accordingly, we (royal-ish) try to NOT be too judgmental or even to hold grudges against some of the newbie patterns that arise from time to time.   

 

[ChartBuddy]

Explanation

[OgNasty]

I wouldn’t be shocked to see a quick drop down to $43K sometime in the next 30 days. I feel like that will likely be the last dip before liftoff. First we need to see another round of liquidations. Prepare yourselves for a moment of silence in memory of those who are leveraged trading.

[El duderino_]

Eternal September. (Tuur Demeester) 

[fillippone]

 

I welcome you, but you must be new at the WO

Like this meme is been posted 37 times or something 

allways the same with them WO noobs... 🙈

Eternal September. (Tuur Demeester)