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

[LoyceV]

I am not sure if people realise that there will never be 21,000,000 Bitcoins... and i don't mean lost coins (that is still part of the circulation total)...

(waiting for a reply asking why...)

That's just a rounding difference. 21 million is easier to remember than 20,999,999.9769 (which I actually had to look up).

[suchmoon]

I am not sure if people realise that there will never be 21,000,000 Bitcoins... and i don't mean lost coins (that is still part of the circulation total)...

(waiting for a reply asking why...)

That's just a rounding difference. 21 million is easier to remember than 20,999,999.9769 (which I actually had to look up).

It's less than that. Some miners haven't claimed their full reward so we're ~29 BTC short IIRC.

[ChartBuddy]

Explanation

[AlcoHoDL]

I am not sure if people realise that there will never be 21,000,000 Bitcoins... and i don't mean lost coins (that is still part of the circulation total)...

(waiting for a reply asking why...)

That's just a rounding difference. 21 million is easier to remember than 20,999,999.9769 (which I actually had to look up).

That's what I thought he meant, but I couldn't be bothered to look it up. It means nothing practically. Just 0.0231 BTC short of 21M.

Less the currently unclaimed 29 BTC that suchmoon mentioned. So, still nothing.

The most significant supply reduction, that has a practical meaning, are the lost BTC (from lost keys, owners dying, etc.).

[hisslyness]

I am not sure if people realise that there will never be 21,000,000 Bitcoins... and i don't mean lost coins (that is still part of the circulation total)...

(waiting for a reply asking why...)

That's just a rounding difference. 21 million is easier to remember than 20,999,999.9769 (which I actually had to look up).

It's less than that. Some miners haven't claimed their full reward so we're ~29 BTC short IIRC.

Bingo! That's the answer!...

Back when i was mining, i had watched some blocks being added, and this particular block caught my eye.... It was confirmed but 12.5BTC reward wasn't added.

Block Number: 501726

Asked the question back in tech support and the legendary ranochigo answered it.

https://bitcointalk.org/index.php?topic=2667744.msg27213316#msg27213316

In theory, it is possible to have the limit of Bitcoin even lower than 21,000,000, if miners somehow screw up their OP_RETURN...

that -12.5BTC that i know about.. there are others, but it was New Years Eve 2017 and i wasn't bothered to find any previous ones.

You should take a look at the transaction... very strange

https://www.blockchain.com/btc/block/0000000000000000004b27f9ee7ba33d6f048f684aaeb0eea4befd80f1701126

184467440724.59550000 BTC in fees....

That's what I thought he meant, but I couldn't be bothered to look it up. It means nothing practically. Just 0.0231 BTC short of 21M.

Less the currently unclaimed 29 BTC that suchmoon mentioned. So, still nothing.

The most significant supply reduction, that has a practical meaning, are the lost BTC (from lost keys, owners dying, etc.).

Was just a bit of Pub Trivia....

It just makes you think, how we can and appreciate the reduction in supply, but the moment someone brings up increasing supply, we are ready to take them down!

We all understand what would happen to Bitcoin going brrrrrr....!

[AlcoHoDL]

I am not sure if people realise that there will never be 21,000,000 Bitcoins... and i don't mean lost coins (that is still part of the circulation total)...

(waiting for a reply asking why...)

That's just a rounding difference. 21 million is easier to remember than 20,999,999.9769 (which I actually had to look up).

It's less than that. Some miners haven't claimed their full reward so we're ~29 BTC short IIRC.

Bingo! That's the answer!...

Back when i was mining, i had watched some blocks being added, and this particular block caught my eye.... It was confirmed but 12.5BTC reward wasn't added.

Block Number: 501726

Asked the question back in tech support and the legendary ranochigo answered it.

https://bitcointalk.org/index.php?topic=2667744.msg27213316#msg27213316

In theory, it is possible to have the limit of Bitcoin even lower than 21,000,000, if miners somehow screw up their OP_RETURN...

that -12.5BTC that i know about.. there are others, but it was New Years Eve 2017 and i wasn't bothered to find any previous ones.

You should take a look at the transaction... very strange

https://www.blockchain.com/btc/block/0000000000000000004b27f9ee7ba33d6f048f684aaeb0eea4befd80f1701126

184467440724.59550000 BTC in fees....

If I'm not mistaken, that was a kind of wrap-around signed/unsigned type error, had to do with a wrongly declared C variable type, and was fixed in an update. I could be wrong, but I think that was it.

[ChartBuddy]

Explanation

[LFC_Bitcoin]

Next week is important isn’t it. I feel like if we don’t start going up by the end of next week then the bull could be over. I’m prepared either way, obviously heavily leaning to wanting up but there are positives to both. Let’s see what happens.

[naim027]

Next week is important isn’t it. I feel like if we don’t start going up by the end of next week then the bull could be over. I’m prepared either way, obviously heavily leaning to wanting up but there are positives to both. Let’s see what happens.

Yeah. Black Friday is gone. All the bad news already affected the market and we already saw that Bitcoin Respected its $53K Support. We saw a One-month Low was :$53,569.76. Tomorrow is the weekend and we expect a green candle tomorrow. Yeah, Next week is very important and crucial at the same time. Sit tight and HODL.

[ChartBuddy]

Explanation

[naim027]

[Lucius]

Yeah, Next week is very important and crucial at the same time. Sit tight and HODL.

Only if someone thinks December is a crucial month and a turning point for Bitcoin every year. Maybe the year will end without a new ATH, but that doesn't mean we're in a bear market - good things can happen in Q1 next year

[El duderino_]

[BobLawblaw]

Agreed, I think we need to remain more conservative over utilising the phrase "doing a mindrust".

I agree that we need to sparingly and sharply use the "pulling a mindrust" term only in the most severe, discipline-lacking, and limp-wristed cases.

I've not ever personally witnessed a more bone-headed move on these forums.

I know it is gauche to talk about such things, but with regards to mindrust, do we know the approximate size of his bags when he dumped?

Are we talking 10BTC? 50? 100? Just wondering out loud how much he fucked himself, if we were to assign a dollar value to what an absolutely massive loser mindrust turned out to be.

[Wekkel]

https://twitter.com/naiiveclub/status/1464568098694914057?t=bLma6wepiN0THEBYjNVjGQ&s=19

Made me laugh 

[El duderino_]

Agreed, I think we need to remain more conservative over utilising the phrase "doing a mindrust".

I agree that we need to sparingly and sharply use the "pulling a mindrust" term only in the most severe, discipline-lacking, and limp-wristed cases.

I've not ever personally witnessed a more bone-headed move on these forums.

I know it is gauche to talk about such things, but with regards to mindrust, do we know the approximate size of his bags when he dumped?

Are we talking 10BTC? 50? 100? Just wondering out loud how much he fucked himself, if we were to assign a dollar value to what an absolutely massive loser mindrust turned out to be.

I I’m correct he had 5 max 7 BTC’s

Something like that

Think he invested 50k total and had 50k clean out of the scam

Maybe not exactly but the numbers will be pretty close

[AlcoHoDL]

Agreed, I think we need to remain more conservative over utilising the phrase "doing a mindrust".

I agree that we need to sparingly and sharply use the "pulling a mindrust" term only in the most severe, discipline-lacking, and limp-wristed cases.

I've not ever personally witnessed a more bone-headed move on these forums.

I know it is gauche to talk about such things, but with regards to mindrust, do we know the approximate size of his bags when he dumped?

Are we talking 10BTC? 50? 100? Just wondering out loud how much he fucked himself, if we were to assign a dollar value to what an absolutely massive loser mindrust turned out to be.

I I’m correct he had 5 max 7 BTC’s

I thought he had 10 BTC, but you're probably right. I never really looked into the details.

[El duderino_]

We both will be close

North of those numbers

[shahzadafzal]

Remember bitcoin is not running on Amazon Cloud or AWS or Google or Microsoft. It’s not dependent on any such tools or so called technologies and it’s FREE… No monthly subscriptions needed, no ads to skip before you make a transaction. You control the fee in fact you control everything.

Bitcoin truly enables people to plan for the future well beyond their own life, a luxury and necessity many throughout history did not have...

[ChartBuddy]

Explanation