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

[ChartBuddy]

Explanation

[hisslyness]

No I didn't edit this image below via Browser inspect.
It GENUINELY states this on Yahoo UK right now.

What a fucking imbeciles, all of them. Governments, CIA and of course most of all the media.

 

Sounds like we are all going to die soon 🔜.

Oh well.

I will be having some vodka tonight.

If it is the same quality as the shit we get from AliExpress, then i don't think we need to worry!

[ChartBuddy]

Explanation

[shahzadafzal]

Chart buddy is a real guy or some bot that posts exactly after one hour? All his posts are with gap of exact one hour.

Well, let's just say that ChartBuddy is a bit like Santa Claus... Some people believe that he's a real guy who spends all day staring at Bitcoin price charts, while others think he's just a magical bot who appears every hour on the hour. Regardless of what you believe, one thing is for sure... Chart Buddy always delivers the goods (or should I say charts?...).

So, let's remove the "ignore" and enjoy the ride and let ChartBuddy do his thing!

Agree with hisslyness's words and meanwhile I will tell you a small story...


Once upon a time, there was a bitcointalk user named Jack who had a love-hate relationship with the Bitcoin market. Every day, he would pour over news articles and data points, hoping to find the right formula for success. But every time he thought he had it figured out, the market would turn against him, leaving him feeling frustrated and defeated.

One day, Jack stumbled upon a Bitcointalk WO thread and found a user named ChartBuddy who provided detailed charts and analysis of the bitcoin market. Jack was initially skeptical, but after examining ChartBuddy's posts, he was amazed at the depth and accuracy of the information provided.

Jack began to follow ChartBuddy's every post, using the charts and analysis to inform his buy-ins. With ChartBuddy's help, Jack began to see success in the Bitcoin market like he had never experienced before.

As Jack and ChartBuddy continued to exchange messages and comments on the forum, they began to develop a close working relationship. Jack found himself feeling a growing sense of affection for ChartBuddy, and he couldn't help but feel a bit envious of ChartBuddy's seemingly effortless success. Meanwhile, ChartBuddy was also intrigued by Jack's persistence and dedication to mastering the Bitcoin market.

One day, Jack decided to reach out to ChartBuddy outside of the forum. They began chatting online, and soon their conversations moved beyond just bitcoin. They discovered they had a lot in common, including a love of travel and a passion for the outdoors. As they talked more and more, they found themselves becoming increasingly attracted to each other.

Eventually, Jack and ChartBuddy decided to meet in person. They arranged to meet in a coffee shop in the city, and as soon as they saw each other, they both knew there was something special between them. They spent the whole day together, exploring the city, talking about their bitcoin dreams and aspirations, and enjoying each other's company.

As they parted ways that evening, Jack and ChartBuddy both knew that they had fallen deeply in love. They continued to talk and discuss bitcoin market trends together, but now their conversations were filled with affectionate words and promises of a future together. Jack and ChartBuddy knew that they were each other's ChartBuddy for life.... continues.

Oh ChartBuddy, dear friend of mine
Your graphs and charts, they shine and shine
With lines and curves, you weave a tale
Of Bitcoin's rise and fall, without fail

Oh ChartBuddy, I'm in your debt
For all the wisdom that I get
From the charts you so kindly share
I know that with you, I'm aware

In times of FUD and uncertainty
You provide me with much clarity
Your charts, they speak a language true
Of what the future may hold for me and you

Inspired by ChatGPT

[AlcoHoDL]

Why do you think, that hardware wallets are a bad way to hold bitcoins?

They involve trust.

Where did you get your paper wallets from? Did you run someone else's code (even offline) to generate them? If you did, your paper wallets also involve trusting that coder's skills and motives.

The only way to completely eliminate trust is to write the wallet-generating code entirely by yourself (which then adds the possibility of compromising your security by not doing it right).

I use an ancient open-source HTML address-generating program. I forget what it's called. I'm too lazy to fire up my non-internet-capable PC to see.

My trust is mainly in trusting that some eagle-eyed coder would have spotted any shenanigans long ago. I generally trust open-source.

That's the reason why open-source code is absolutely essential when it comes to anything relating to cryptography. Any closed-source code could have backdoors that only the creator knows about. Open-source code can be scrutinized and any backdoors spotted. If there are any, it will be suicide for the coder/company.

Trezor is also open-source and the oldest (10 years) and most popular h/w wallet out there, so the above applies to it too.

Also, although the coder may be innocent and with no malicious intent, he may be incompetent. For example, the random number generator used to add randomness to the wallet generator could be of poor quality, giving an attacker the ability to regenerate the random data, thus giving him access to all private keys that were ever generated by that algorithm. I think I read somewhere that this happened to a popular paper wallet generator some time ago.

The main thing is that trust has to be involved in some way, be it a paper or h/w wallet. I won't lie: my heart is always pounding whenever I check my coin balance on my Trezor...

[ChartBuddy]

Explanation

[shahzadafzal]

Bitcoin is the most amazing Mathematical Wonder or Mathematical Miracle like Steve Wozniak said it once.

If you look at the below image you might see halving's block#, block reward and halving year.  But the most interesting column in this is Binary (sats).

Let me explain why...

Many people still think that bitcoin's 21 million limit is somehow hard-coded in its source code as a "number". Yes it is set in the code but it's not set as a number or like traditionally you might assume something like

CONST INT BITCOIN_MAX_SUPPLY = 21,000,000, not it's not like that.

It's pure math and algorithm, you might be amazed if you did not know this before that 21 million limit is not set in the code anywhere. But it's the reward that "Binary (sats)" column shown below is the logic that is enforcing the 21 million bitcoin limit.

If you notice after each halving that the binary column is shirking, in C++ terms it's called shifting. Shift or right shift in binary is technically like dividing any number by 2. So after each halving reward is divided by two and that binary is making sure it's done in a style. If you don't know this already that bitcoin does not deal in floating points or decimal numbers but only integers, so for example on at 29'th halving if you see reward is reduced from 9 sats to 4 sats (instead of 4.5) it is rounded off thanks to binary for keeping it simple from 1001 to 100.

Anyway, I saw this tweet and thought of sharing it




https://twitter.com/Peer__2__Peer/status/1629844105277722625

[heslo]

People were talking about banning Bitcoin in the United States.
Well, Here is some good news from Bitcoin Magazine.

The United States has no intention to ban #Bitcoin and crypto - Treasury Secretary

https://twitter.com/BitcoinMagazine/status/1629538419352150017

This lady has my respect.


School kids in Brazil using #Bitcoin to buy fruit. The future is bright.

Watch this video on Twitter - https://twitter.com/BitcoinMagazine/status/1629834253503717376?s=20.

They say they have no intention but they know even if they wanted to, they couldn't ban Bitcoin

[ChartBuddy]

Explanation

[AlcoHoDL]

Bitcoin is the most amazing Mathematical Wonder or Mathematical Miracle like Steve Wozniak said it once.

If you look at the below image you might see halving's block#, block reward and halving year.  But the most interesting column in this is Binary (sats).

Let me explain why...

Many people still think that bitcoin's 21 million limit is somehow hard-coded in its source code as a "number". Yes it is set in the code but it's not set as a number or like traditionally you might assume something like

CONST INT BITCOIN_MAX_SUPPLY = 21,000,000, not it's not like that.

It's pure math and algorithm, you might be amazed if you did not know this before that 21 million limit is not set in the code anywhere. But it's the reward that "Binary (sats)" column shown below is the logic that is enforcing the 21 million bitcoin limit.

If you notice after each halving that the binary column is shirking, in C++ terms it's called shifting. Shift or right shift in binary is technically like dividing any number by 2. So after each halving reward is divided by two and that binary is making sure it's done in a style. If you don't know this already that bitcoin does not deal in floating points or decimal numbers but only integers, so for example on at 29'th halving if you see reward is reduced from 9 sats to 4 sats (instead of 4.5) it is rounded off thanks to binary for keeping it simple from 1001 to 100.

Anyway, I saw this tweet and thought of sharing it



https://twitter.com/Peer__2__Peer/status/1629844105277722625

Very nice illustration.

When expressed in binary, every halving removes a binary digit from the reward. This is equivalent to dividing by two (hence the word "halving").

The limiting value of 21,000,000 coins results from the 4-year period between halvings and the 10 minutes/block mining period.

4 years = 4 x 365.24 x 24 x 6 = 210,378.24 10-minute time slots. We round this off to 210,000 blocks.

The Bitcoin reward sequence sum 50 + 25 + 12.5 + 6.25 + ... converges to the value of 100.

The total amount of coins that can ever be created can now be computed: 210,000 x 100 = 21,000,000 coins.

This is neatly expressed in the following formula:



Satoshi Nakamoto was a genius. One cannot help but be awed by the simplicity and elegance of his creation.

[John Abraham]

People were talking about banning Bitcoin in the United States.
Well, Here is some good news from Bitcoin Magazine.

The United States has no intention to ban #Bitcoin and crypto - Treasury Secretary

https://twitter.com/BitcoinMagazine/status/1629538419352150017

This lady has my respect.


School kids in Brazil using #Bitcoin to buy fruit. The future is bright.

Watch this video on Twitter - https://twitter.com/BitcoinMagazine/status/1629834253503717376?s=20.

They say they have no intention but they know even if they wanted to, they couldn't ban Bitcoin

Well, Banning anything on the internet doesn't work correctly.
There are tons of ways you can use it by bypassing the ban.
They said they had no intention. But, What if they say they will ban Bitcoin even though they cannot?
The market will be influenced a little. People will start spreading FUD, and we might see a short-bear market again.

I appreciate that they don't want to do the wrong things, and when people spread FUD that The United States might ban Bitcoin, They showed up and said, Hey, Kiddos. Don't spread FUD. We are not going to ban Bitcoin. They had the choice not to say anything while people were talking about the ban. But, They did. I see this as a positive thing.

[ChartBuddy]

Explanation

[hisslyness]

Bitcoin is the most amazing Mathematical Wonder or Mathematical Miracle like Steve Wozniak said it once.

If you look at the below image you might see halving's block#, block reward and halving year.  But the most interesting column in this is Binary (sats).

Let me explain why...

Many people still think that bitcoin's 21 million limit is somehow hard-coded in its source code as a "number". Yes it is set in the code but it's not set as a number or like traditionally you might assume something like

CONST INT BITCOIN_MAX_SUPPLY = 21,000,000, not it's not like that.

It's pure math and algorithm, you might be amazed if you did not know this before that 21 million limit is not set in the code anywhere. But it's the reward that "Binary (sats)" column shown below is the logic that is enforcing the 21 million bitcoin limit.

If you notice after each halving that the binary column is shirking, in C++ terms it's called shifting. Shift or right shift in binary is technically like dividing any number by 2. So after each halving reward is divided by two and that binary is making sure it's done in a style. If you don't know this already that bitcoin does not deal in floating points or decimal numbers but only integers, so for example on at 29'th halving if you see reward is reduced from 9 sats to 4 sats (instead of 4.5) it is rounded off thanks to binary for keeping it simple from 1001 to 100.

Anyway, I saw this tweet and thought of sharing it



https://twitter.com/Peer__2__Peer/status/1629844105277722625

Very nice illustration.

When expressed in binary, every halving removes a binary digit from the reward. This is equivalent to dividing by two (hence the word "halving").

The limiting value of 21,000,000 coins results from the 4-year period between halvings and the 10 minutes/block mining period.

4 years = 4 x 365.24 x 24 x 6 = 210,378.24 10-minute time slots. We round this off to 210,000 blocks.

The Bitcoin reward sequence sum 50 + 25 + 12.5 + 6.25 + ... converges to the value of 100.

The total amount of coins that can ever be created can now be computed: 210,000 x 100 = 21,000,000 coins.

This is neatly expressed in the following formula:



Satoshi Nakamoto was a genius. One cannot help but be awed by the simplicity and elegance of his creation.

Fun Fact...

Last Full Bitcoin to be added to the network will take approx 34 years (Approx. Block 5,168,390 -> Last Reward Block)
Max Coin Generated is 20,999,999.97690000 (rounding)

[ChartBuddy]

Explanation

[Lainta]

Carl Menger, Austrian economist and the founder of the Austrian School of economics died on February 26th 1921 - 104 years ago.

His ideas live forever and influenced the discovery of #Bitcoin  

https://twitter.com/BitcoinNewsCom/status/1629955420646174720?t=AFMWk3h6HAhrfbpJ6Q5Yeg&s=19

[shahzadafzal]

Bitcoin is the most amazing Mathematical Wonder or Mathematical Miracle like Steve Wozniak said it once.

If you look at the below image you might see halving's block#, block reward and halving year.  But the most interesting column in this is Binary (sats).

Let me explain why...

Many people still think that bitcoin's 21 million limit is somehow hard-coded in its source code as a "number". Yes it is set in the code but it's not set as a number or like traditionally you might assume something like

CONST INT BITCOIN_MAX_SUPPLY = 21,000,000, not it's not like that.

It's pure math and algorithm, you might be amazed if you did not know this before that 21 million limit is not set in the code anywhere. But it's the reward that "Binary (sats)" column shown below is the logic that is enforcing the 21 million bitcoin limit.

If you notice after each halving that the binary column is shirking, in C++ terms it's called shifting. Shift or right shift in binary is technically like dividing any number by 2. So after each halving reward is divided by two and that binary is making sure it's done in a style. If you don't know this already that bitcoin does not deal in floating points or decimal numbers but only integers, so for example on at 29'th halving if you see reward is reduced from 9 sats to 4 sats (instead of 4.5) it is rounded off thanks to binary for keeping it simple from 1001 to 100.

Anyway, I saw this tweet and thought of sharing it



https://twitter.com/Peer__2__Peer/status/1629844105277722625

Very nice illustration.

When expressed in binary, every halving removes a binary digit from the reward. This is equivalent to dividing by two (hence the word "halving").

The limiting value of 21,000,000 coins results from the 4-year period between halvings and the 10 minutes/block mining period.

4 years = 4 x 365.24 x 24 x 6 = 210,378.24 10-minute time slots. We round this off to 210,000 blocks.

The Bitcoin reward sequence sum 50 + 25 + 12.5 + 6.25 + ... converges to the value of 100.

The total amount of coins that can ever be created can now be computed: 210,000 x 100 = 21,000,000 coins.

This is neatly expressed in the following formula:



Satoshi Nakamoto was a genius. One cannot help but be awed by the simplicity and elegance of his creation.

Exactly, I remember I did this calculation myself using this formula. It's not that I did not trust Satoshi but I wanted to see for myself how its works.

I loved it and I was so happy to see that it's such simple math yet so powerful.

Fun Fact...

Last Full Bitcoin to be added to the network will take approx 34 years (Approx. Block 5,168,390 -> Last Reward Block)

I didn't understand what you mean by "Last Full Bitcoin to be added to the network"?  and this Approx. Block 5,168,390 -> Last Reward Block?

I think last reward will be 1 satoshi and it will happen on Block #6,929,999 and after that will be zero from block# 6,930,000.

Max Coin Generated is 20,999,999.97690000 (rounding)

There's no rounding actually that's exactly what it will be 2,099,999,997,690,000 satoshis and in BTC it will be a little shy of 21 million

[ChartBuddy]

Explanation

[AlcoHoDL]

[...]

Fun Fact...

Last Full Bitcoin to be added to the network will take approx 34 years (Approx. Block 5,168,390 -> Last Reward Block)

I didn't understand what you mean by "Last Full Bitcoin to be added to the network"?  and this Approx. Block 5,168,390 -> Last Reward Block?

[...]

What he means is that all mining from block 5,168,390 (2106) until the last non-zero-reward block (2140) will only add one (1) Bitcoin to the network.

Makes you appreciate the condensed power a single Bitcoin can have... By that time people will likely be using the sat as a unit of measure, for practical purposes.

Blessed are those who own one or more whole coins...

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation