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

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Gachapin]

What hash rate and electrical use will bitcoin be using at 1 million evaluation?

how much money, energy and lives are used to secure humanity's wealth?

[philipma1957]

What hash rate and electrical use will bitcoin be using at 1 million evaluation?

a legit question

easy math would be 1,000,000/120,000= 8.333

8.333 times what we have now or 1100eh x 8.333 = 9166 eh


now what is that in power use well 50% off due to more efficient mining would mean 5 or 6 watts a th

so 9166eh is

9,166,000ph is

9,166,000,000th x 6watts is 54,996,000,000 watts an hour or

54,996,000Kwatts an hour or

54,996megawatts an hour.  seems like a lot but it is about  the 3 largest hydroplants in the world


1.   Three Gorges Dam    China           30°49′15″N 111°00′08″E   22,500         
2.   Baihetan Dam           China           27°13′07″N 102°54′22″E   16,000         
4.   Itaipu Dam            Brazil Paraguay   25°24′31″S 54°35′21″W   14,000   


from wiki they would carry the load

https://en.wikipedia.org/wiki/List_of_largest_power_stations


so not a big deal.

the key is the will to use better solar and wind and management as the world has so much usable power it is not an issue at all.
at all

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Richy_T]

I guess it depends on the definition: I'd say owning Bitcoin means owning owning your keys. Considering there are only 53,218,057 funded Bitcoin addresses (based on yesterday's data), and considering many Bitcoin owners have more than one funded address, there are far less than 50 million Bitcoin owners worldwide.
On the other hand, if I use a broker to buy shares of a certain company, I can say I own shares of that company. So I guess (by now) it's okay to say you own Bitcoin when you "have" some on an exchange or ETF. By that definition, 1 in 6 or 7 sounds plausible.

There is some nuanced perspectives about ownership. The conclusion I've come to is that if you own it if you can keep it. This is possible for Bitcoin like nothing else.

See also the "If buying isn't owning, piracy isn't stealing" discussion.

[Gachapin]

Why would you want to get a loan in paper bitcoin, though?

I don't But I can imagine bankers coming up with this scenario for profit.

Why not take a loan in paper dollars, and use them to buy bitcoin?  This way, you don't have counterparty risk (bank going bankrupt, or practicing fractional reserve with no reserves), while you do borrow the bitcoin.  You're also increasing the supply of dollars, while decreasing the market supply of bitcoin, driving the price up.

I wouldn't invest borrowed money, but I'm risk-averse when it comes to debt.

I wouldn't have the balls, but got a friend who took on a huge loan (about 3x his annual income) and bought BTC @60k.

he is able pay back the full loan + interest with his income over the years while his BTC stash gains value against the fiat he borrowed.

If he looses his job... too bad, his BTC are already on some addresses nobody has access to apart from him.

I really consider it a smart move without too much risk...

[Richy_T]

I really consider it a smart move without too much risk...

The fall into the 400s lasted a loooong time. If you held, you eventually made out but I think there were a lot of people lost heart and sold. Remember, everything looks easy in retrospect.

[El duderino_]

15% tariff deal US-EU

looking good

[Gachapin]

I really consider it a smart move without too much risk...

The fall into the 400s lasted a loooong time. If you held, you eventually made out but I think there were a lot of people lost heart and sold. Remember, everything looks easy in retrospect.

He knows my history with Bitcoin and the pain that comes with long bear markets.

He prepared himself to hold BTC for decades.
But yeah people get weak easily. See mindrust

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

I guess it depends on the definition: I'd say owning Bitcoin means owning owning your keys. Considering there are only 53,218,057 funded Bitcoin addresses (based on yesterday's data), and considering many Bitcoin owners have more than one funded address, there are far less than 50 million Bitcoin owners worldwide.
On the other hand, if I use a broker to buy shares of a certain company, I can say I own shares of that company. So I guess (by now) it's okay to say you own Bitcoin when you "have" some on an exchange or ETF. By that definition, 1 in 6 or 7 sounds plausible.

There is some nuanced perspectives about ownership. The conclusion I've come to is that if you own it if you can keep it. This is possible for Bitcoin like nothing else.

See also the "If buying isn't owning, piracy isn't stealing" discussion.

well

if my PayPal account has 10,000 usd worth of BTC I am sure that would be counted on the list of 50 million Americans

the easiest way to have BTC in the USA is PayPal
I would love to see their books as to how much btc they really hold vs how much they say they hold.

if you can open a PayPal account in the USA and you attached a bank account and a CC along with opening a savings account with them it is really easy to stack btc there.

Now would I have 30% of my BTC there nope.

But if you own a coin in a tezor or your core wallet

Buying btc at PayPal makes sense.  Why?  because if you simply use your bank to buy $100 a week and in a few year you have purchased 10,000 usd worth of btc all of it is perfectly kyc'd

having 10,000 usd worth of perfectly kyc'd btc is a good thing.

just be sure you have a lot of other BTC.

[OgNasty]

Why would you want to get a loan in paper bitcoin, though?

I don't But I can imagine bankers coming up with this scenario for profit.

Why not take a loan in paper dollars, and use them to buy bitcoin?  This way, you don't have counterparty risk (bank going bankrupt, or practicing fractional reserve with no reserves), while you do borrow the bitcoin.  You're also increasing the supply of dollars, while decreasing the market supply of bitcoin, driving the price up.

I wouldn't invest borrowed money, but I'm risk-averse when it comes to debt.

I wouldn't have the balls, but got a friend who took on a huge loan (about 3x his annual income) and bought BTC @60k.

he is able pay back the full loan + interest with his income over the years while his BTC stash gains value against the fiat he borrowed.

If he looses his job... too bad, his BTC are already on some addresses nobody has access to apart from him.

I really consider it a smart move without too much risk...

I shamefully took out a loan against my Bitcoin using Coinbase. I wanted to test it out and see how it worked. I decided to buy Solana with it to try out a carry trade since the rates were cooperating. This was a few months ago when SOL was scraping bottom. I’m currently up about $20,000 and have begun paying off the loan. I’ll probably leave the profits staked forever similarly to what I did with ETH after the Hex airdrop… Free passive income forever is cool. As to not completely leave Bitcoin behind from this trade (you can breathe now), I did put some of the profits into a wBTC/SPYx liquidity pool, so I’m also passively earning wrapped Bitcoin as well. All without ever selling a single satoshi.

[xhomerx10]

What hash rate and electrical use will bitcoin be using at 1 million evaluation?

how much money, energy and lives are used to secure humanity's wealth?

 Life is energy; energy is life.  The more the merrier.

[Biodom]

People will do loans more and more, but when i look, the terms are still horrendous, so I still stick to cash and don't do anything fancy for now.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[Cointikka]

What hash rate and electrical use will bitcoin be using at 1 million evaluation?

a legit question

easy math would be 1,000,000/120,000= 8.333

8.333 times what we have now or 1100eh x 8.333 = 9166 eh


now what is that in power use well 50% off due to more efficient mining would mean 5 or 6 watts a th

so 9166eh is

9,166,000ph is

9,166,000,000th x 6watts is 54,996,000,000 watts an hour or

54,996,000Kwatts an hour or

54,996megawatts an hour.  seems like a lot but it is about  the 3 largest hydroplants in the world


1.   Three Gorges Dam    China           30°49′15″N 111°00′08″E   22,500         
2.   Baihetan Dam           China           27°13′07″N 102°54′22″E   16,000         
4.   Itaipu Dam            Brazil Paraguay   25°24′31″S 54°35′21″W   14,000   


from wiki they would carry the load

https://en.wikipedia.org/wiki/List_of_largest_power_stations


so not a big deal.

the key is the will to use better solar and wind and management as the world has so much usable power it is not an issue at all.
at all

Anyone here compared it with the EV Energy Consumption? They even promoted that EVs were Environment-FRIENDLY. They do not. They make more pollution& environmental issues than mining.

[OgNasty]

President Trump’s appointed group on digital assets has finished their ordered 180-day report. It will be released publicly on July 30th. There is some speculation that this may include the government’s plans to purchase more Bitcoin. If so, that would be like igniting the flame on a rocket. It’s almost time…

[WatChe]

Some guys ended up being more correct than others by investing into bitcoin, but even the ones who ended up being more correct (and even as more importantly reflected in their actions) still did necessarily know or understand the then future beyond merely assessing of some probabilities regarding various scenarios and some scenarios more correct than others..and even with the passage of time, their believes could be confirmed or denied by subsequent folding out of events..

The correct way to proceed with Bitcoin is to just keep accumulating and don't look for long time what you have accumulated. We have so much data available that tells us how beneficial it is to hodl bitcoin for long time. Even if still someone is not convinced, it's his own choice.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[promise444c5]

There is some speculation that this may include the government’s plans to purchase more Bitcoin. If so, that would be like igniting the flame on a rocket. It’s almost time…

Yeah but used the word digital assets, Bitcoin is part anyways:

(ii)  The Working Group shall evaluate the potential creation and maintenance of a national digital asset stockpile and propose criteria for establishing such a stockpile, potentially derived from cryptocurrencies lawfully seized by the Federal Government through its law enforcement efforts.

Sec. 4c ii
I have a little problem understanding fully the part I bold with the way it’s being used in the statement [/b]

Had similar  post here