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

[DaRude]

In case we didn't already know it, here's more proof that retards use coinbase.

Coinbase says it prevented over 1,000 customers from sending $280,000 worth of bitcoin to Twitter hackers

https://www.theblockcrypto.com/post/72200/coinbase-says-it-prevented-over-1000-customers-from-sending-280000-worth-of-bitcoin-to-twitter-hackers

IIRC the twitter morons only got about 60k from everywhere else.

Talk about inept scammers.

For some reason some WO members use conbase as well so yeah...

yup, me.

so ill do a quick explanation:

yes they bought that analytics team that sold services to dictator countries for spying (or whatever it was .. more coffee will bring additions brains cells into play) - someone will correct me - and YES that one pissed me off huge. almost left. but they "fired" the big shots in it iirc

yes they will track the shit out of your tx

yes in bed with IRS

yes can seize all if they feel like it

yes they will lock if you send to privacy wallet or casino (<< do they still do that? they did)

however for me, who mined my coins, and have only bought (a very little) but sold (mostly) my own coins there for 6 or 7 years, it has not had one issue. at all. and ive cashed out corn amounts that raise flags.

for me, yes its regulated to fuck and worse. but i dont use it as a wallet. its soley an on and off ramp.

yes i am prepared to lose whats there at any time. others who hold there should be too.

but it works for me, and for noob holders until they send to hardware/airgapped/paper/whatever

I get all that, but this is not an argument of exchange vs. no exchange, even when you decide to use an exchange, you do have other options. Why not use exchange (with all the same issues/risks as above) but doesn't have a history of trying to fuck BTC any chance they get? Kraken/Gemini have all the same issues but don't seem to actively go out of their way to screw with BTC

[DaRude]

The changes BSV makes to the protocol will inevitably centralize the protocol,

You'll need to be more specific. Which changes exactly are you speaking of?

I certainly hope we are not headed down some semantic rabbit hole about who changed what... but...

The most obvious change.  They have taken the big block ethos to it's end.  They did not only lift block size limitations, but the community has been building applications and uses that encourage as much use of the blockchain as possible.  

Well, there is that, aye.

Perhaps it is in the nature of a semantic rabbit hole, but your use of the future tense for a past enhancement threw me off track. I thought you were referring to some nebulous future changes.

They ridicule the BTC camp for it's Raspberry Pi nodes and have embraced the idea that nodes (which for them are de facto miners) will be big server farms pushing the boundaries of storage space, network bandwidth and computational resources.

Well, yes. I get that many think that huge numbers of non-mining fully-validating clients bring security to the system. I just find such notions delusional.

In the end, the entities with the power are the entities with the most to lose - the miners. The thing that keeps the miners from acting nefarious is the threat of users -- measured by economic power, not by a numerical count of trivially sybillable validators -- abandoning their generated chain en masse. Which is the brilliant design left us by satoshi.

And even if non-mining validators _actually_ held any power: Why would we want to artificially constrain the potentially world-changing power of this network to a lowest common denominator of irresponsible neckbeard hobbyists unable to make the proper life choices to enable them to leave mommy's basement? The notion is pure folly.

Sounds like someone is still a bit salty and in denial of UASF, users spoke, you lost and that's the reason you're now running a fork and had to make changes to original protocol (modified DAA), but yet somehow you're still in denial and try to claim that it's delusional.

Those neckbearded cypherpunks running their own nodes and validating their own transactions are the pain in Faketoshis ass that he can't do anything about. They add additional costs/risks when factoring a protocol change. Can you imagine how much easier it would be to move coins without a private key when you only have two major datacenters with a full jigawatt sized chain.

[Globb0]

It hasn't been a cakewalk but I'm happy knowing I will never step foot in a cubicle ever again, working for completely corrupted fuckheads who value money over human life.

I have been made redundant in all this. So I'm racking my brains at the moment.

[kellrobinson]

irresponsible neckbeard hobbyists unable to make the proper life choices to enable them to leave mommy's basement

Ya wanna call me that -- SMILE
https://www.youtube.com/watch?v=QlyUeUz1awU

[vapourminer]

[they] literally told me they don't care. I smashed the guys windshield one day.

i just carry a tire valve stem remover. bout 20 seconds, all tire valves are removed. presto, four (more or less) flat tires with no damage to them whatsoever, well unless they try to drive away of course. inconvenient.

who carries 4 spares or 4 extra valves plus a compressor (well aside from me).

[Globb0]

[casperBGD]

^snip

just great, make me laugh, although it is not that to laugh, it is sad for younger generations that monitor is more interesting than nature

are we in a train to 10k, it was a small, but important step yesterday

[vapourminer]

You need a new dentist mate. I had a zirconia crown fracture after only two years and my guy replaced it for free. If he was really hungover he might have a substance abuse problem and reporting him to the state dental regulatory authorities would be more productive than smashing a windshield (maybe not as satisfying but if you were caught on a surveillance camera you could have been arrested ... cameras are everywhere nowadays.)

ugg flashback to a dentist many decades ago that smelled like booze when i went in for an emergency major toothache. if it were not for the pain from the tooth i would have noped right out of there but the pain was paramount in at that point.

he did a good job, but i never went back again.

[vapourminer]

I get all that, but this is not an argument of exchange vs. no exchange, even when you decide to use an exchange, you do have other options. Why not use exchange (with all the same issues/risks as above) but doesn't have a history of trying to fuck BTC any chance they get? Kraken/Gemini have all the same issues but don't seem to actively go out of their way to screw with BTC

[re:coinbase]

i was/am planning on opening a gemini account but last i went to join they wanted my login to my bank. no thanks, coinbase does the two random transaction and you just confirm them. did that like 7 years ago and been there ever since.

yeah they are getting draconian. but its solely an on/off ramp for me. i dont send/receive coins to <wherever> from coinbase (ie i dont use it as a wallet). i xfer out when i buy, xfer in when i want to sell. doesnt mean they cant freeze it if they dont like where they came from. i have signed messages for some coins - mining payout addys mainly - if needed (never needed to show that though), and coinbase supplied the others.

and i do keep a bit there for trading. such as it is lately.

but youre absolutely right, coinbase is going downhill as far as snooping/chainanalysis/tracking and such. government must be loving it.

[AlcoHoDL]

I get all that, but this is not an argument of exchange vs. no exchange, even when you decide to use an exchange, you do have other options. Why not use exchange (with all the same issues/risks as above) but doesn't have a history of trying to fuck BTC any chance they get? Kraken/Gemini have all the same issues but don't seem to actively go out of their way to screw with BTC

[re:coinbase]

i was/am planning on opening a gemini account but last i went to join they wanted my login to my bank. no thanks, coinbase does the two random transaction and you just confirm them. did that like 7 years ago and been there ever since.

yeah they are getting draconian. but its solely an on/off ramp for me. i dont send/receive coins to <wherever> from coinbase (ie i dont use it as a wallet). i xfer out when i buy, xfer in when i want to sell. doesnt mean they cant freeze it if they dont like where they came from. i have signed messages for some coins - mining payout addys mainly - if needed (never needed to show that though), and coinbase supplied the others.

and i do keep a bit there for trading. such as it is lately.

but youre absolutely right, coinbase is going downhill as far as snooping/chainanalysis/tracking and such. government must be loving it.

IMHO, people often tend to exaggerate different issues they may have had, or have heard happening with exchanges. I've read many negative comments about Kraken. I've been with them for several years now, and have had an excellent customer service on the very few issues that arose. It is currently my no.1 choice of exchange.

[sirazimuth]

Folks tend to remember 100% of the time and whine about negative issues that occur 1% of time.
Because of course they do.
And don’t mention the other 99% of time when things run normal.
Because why would they?

[cAPSLOCK]

They ridicule the BTC camp for it's Raspberry Pi nodes and have embraced the idea that nodes (which for them are de facto miners) will be big server farms pushing the boundaries of storage space, network bandwidth and computational resources.

Well, yes. I get that many think that huge numbers of non-mining fully-validating clients bring security to the system. I just find such notions delusional.

In the end, the entities with the power are the entities with the most to lose - the miners. The thing that keeps the miners from acting nefarious is the threat of users -- measured by economic power, not by a numerical count of trivially sybillable validators -- abandoning their generated chain en masse. Which is the brilliant design left us by satoshi.

And even if non-mining validators _actually_ held any power: Why would we want to artificially constrain the potentially world-changing power of this network to a lowest common denominator of irresponsible neckbeard hobbyists unable to make the proper life choices to enable them to leave mommy's basement? The notion is pure folly.

There is no doubt that validating nodes hold power. UASF proved that. 

The original paradigm was the miners both did the hash work and the consensus validation.  When the idea was 1 CPU 1 vote this meant both hasrate and consensus validation was distributed.  Upon the advent of ASICS harshpower began to centralize among the producers of the hardware as well as the large ASIC farms that became the current day miners.  But protocol consensus was still something users did not need specialized hardware to validate/support.  So that function branched off to be a list of users LAGER than those providing hashrate security.

This is a VERY GOOD thing in my opinion.

If both hashrate AND consensus validation coalesced to smaller and smaller group the network would be less robustly distributed.  But with the way the power is currently distributed we have a sort of "separation of powers" sort of like the US government.

If the network evolves too quickly and requires expensive, specialized hardware for BOTH Hashrate AND consensus and chain validation then we are introducing TRUST where we do not necessarily have to.

I, and many others, feel very passionately that the distributed nature of the power in bitcoin is worth defending.  Taking a sort of ad hominem stance by calling people who validate the protocol and transactions on the bitcoin network "irresponsible neckbeard hobbyists unable to make the proper life choices to enable them to leave mommy's basement" is not helpful or realistic IMHO.

[kellrobinson]

[snip]

Jay, Jay, Jay.  So many questions.  Do you drink coffee all day?
The projection is a periodic function.  The peaks are equidistant on the time axis.

Looked like I accurately described the peaks of your previous graph, so probably we are looking at your own graph differently  - and yes, I am wearing my glasses.. so I would appreciate a more substantive answer because this is not about me, kell, kell, kell... *(your name has a violent rather than cheery feelening, by the way)

You're a nauseating fucking bore, annoying as a fly.
Chew on this
=10^(0.09336159*(A1923+(1-H$31*SQRT(1-((2*LN(MOD((O$31-A1923)/N$31,2)+1)/LN(3)-1)^2)))*I$31)^0.5-1.645486)/(1-((1-I$33/350)*(1-I$34/350)*(1-I$35/350)*(1-I$36/319)))/A$33

[BobLawblaw]

https://twitter.com/jimbocoin/status/1285951933476413440

[sirazimuth]

....
Chew on this
=10^(0.09336159*(A1923+(1-H$31*SQRT(1-((2*LN(MOD((O$31-A1923)/N$31,2)+1)/LN(3)-1)^2)))*I$31)^0.5-1.645486)/(1-((1-I$33/350)*(1-I$34/350)*(1-I$35/350)*(1-I$36/319)))/A$33

Ah....do as a constipated mathematician would do,
...work it out in logs....

[Hueristic]

Taking a sort of ad hominem stance by calling people who validate the protocol and transactions on the bitcoin network "irresponsible neckbeard hobbyists unable to make the proper life choices to enable them to leave mommy's basement" is not helpful or realistic IMHO.

Nope its called a strawman (wrapped in a red herring) and is a tactic Jbear falls back on when he is losing an argument. Logic fallacies are the shield liars, thiefs and schemers hide behind rather than admit their true goals.

We all know those "neckbeards" created bitcoin to protect against the centralist bankers that BSV is bootlicking.

[JSRAW]

Bitcoin Is Not a Get Rich Quick Scheme, It Is Here to Avoid You Get Poor Slowly Over Time

Tldr : "BTC is the solution to get out of the vicious circle of the current system"

[JimboToronto]

Good morning Bitcoinland.

Flat as a pancake... currently $9358USD/$12568CAD (Bitcoinaverage).

Ho freaking hum.

Ah....do as a constipated mathematician would do,
...work it out in logs....

...with a pencil.

[xhomerx10]

Smithsonian Institution Explains that 'Rationality' & 'Hard Work' are Racist

What are these sinister aspects of “white culture,” you ask? Well, according to the Smithsonian, values like “hard work,” “self-reliance,” “be[ing] polite,” and timeliness are all a product of the “white dominant culture.” Indeed, it turns out that conventional grammar, Christianity, the notion that “intent counts” in courts of law, and the scientific method and its emphasis on “objective, rational linear thinking” are all proprietary to “white culture.”

Gag me with a maggot.

 As you wish - Casu Marzu a Sardinian delicacy.

 edit: È la morte sua

[cAPSLOCK]

I know this post will be disappointing to The Dude

But dammit.  We really just need one whale to come confirm that this is NOT a headfake.  The longer we go without that themore likely we are to deflate a bit.  I already have 90% of my net worth tied up in it.. I cannot help.

CMON CORN!