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

[ChartBuddy]

Explanation

[1714586369]

1714586369

[1714586369]

1714586369

[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

[hisslyness]

[...]

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...

Exactly!.. Just mind boggling to think how much 1 whole Bitcoin is truly worth! i don't think i need to repeat the same rhetoric about trying to accumulate a 1 whole Bitcoin...

In regards to rounding, it was in relations to halving cycle rewards... you obviously can't have 1/2 a SAT, so it was rounded up or down pending on the bit... so it wasn't a true halving.

[BitcoinBunny]

This is hilarious. 

https://twitter.com/NoContextBrits/status/1629975959108481025

[ChartBuddy]

Explanation

[philipma1957]

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

so in 2036 when I turn 79 the reward will be

[ChartBuddy]

Explanation