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

[cAPSLOCK]

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

Well, no. It proves nothing, as the battle was never fought.

The original paradigm was the miners both did the hash work and the consensus validation. 

Yup.

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.

Are you about to tell me that Satoshi never foresaw a day where 'maintaing the chain was the job of specialized servers, allowing users to just be users'?

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.

More power to your imaginary sky cavalry.

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.

Well, it's not so much that the majority of fully-validating non-mining clients are run by economically useless riffraff, it is more the fact that the network is dumbed down to the point that economically useless riffraff govern the capacity of the system.

If you can't see how futile that is, god help us all.

Hmm.  Well I think we are at an impasse.  We always were though.

I think the more nodes the better and do not care who runs them primarily.  I believe that that is exactly what decentralized minimized governance looks like and it is messy and slow moving.

You want nodes to be run by some sort of technocratic elite who will govern us all with what they decide the limitation, or removal thereof will be.

We are comfortable with different trade offs.  I think a distributed system with the least amount of trust possible is worth more than you do.

[cAPSLOCK]

Source:
https://twitter.com/webRat/status/1286141734557298688?s=20

So awesome.  But they forgot Idiocracy.

[vapourminer]

Source:
https://twitter.com/webRat/status/1286141734557298688?s=20

So awesome.  But they forgot Idiocracy.

i think idiocracy is the big grey(ish) box everything else is in.

[lightfoot]

Don’t you guys buy and replace? Each purchase paid with bitcoin I immediately buy back on an exchange. And add some extra just to be sure, so you could say I have more sats because I actually do pay in bitcoin from time to time.

In the day it was more magic money coming from the little mining thing.

Then it was earned money, and my philosophy that a business has to pay for itself, thus selling or using bitcoin to pay op expenses.

No regrets, just some laughs from time to time.

[El duderino_]

Went shopping today with the misses.... on my expenses.... would the face mask bothered ?? 

[machasm]

Could this be the beginning of our long awaited bull run to the moon?
I hope so. I got plans this time round.
Managed to pay off my house on the last bull run but looking to retire on this next one.
Volume looks like it is starting to pick up a bit too which is nice.

[yefi]

You are devolving into emotionalism, yefi, and that might not be a good direction.

That's impossible, I'm a cold-blooded psychopath, and I dare anyone to protest otherwise.

[cAPSLOCK]

Could this be the beginning of our long awaited bull run to the moon?
I hope so. I got plans this time round.
Managed to pay off my house on the last bull run but looking to retire on this next one.
Volume looks like it is starting to pick up a bit too which is nice.

https://youtu.be/nJeddv1QbeQ

[-CryptoViking-]

Source:
https://twitter.com/webRat/status/1286141734557298688?s=20

So awesome.  But they forgot Idiocracy.

i think idiocracy is the big grey(ish) box everything else is in.

I couldn't have said it better myself

In celebration of that this deserves one AQUAALUUUAANG with a Jazz Flute

https://www.youtube.com/watch?v=_c_ufaxeSTs

[yefi]

hockey sticks to slap back tear gas canisters were another "return to sender" item pressed into service.

It's striking how much more flexible and savvy the protesters have been than the authorities, despite all of the latter's gear and training.

Their goal is futile of course, and the best they can hope for is to win public sentiment by encouraging lethal retaliation.

[JayJuanGee]

I've just bought a new monitor at Newegg.com, and paid with Bitcoin.  

Payment went thru smooth and fast. Much better than using my local (Argentine) credit card, asking for authorization for a payment abroad, and informing my unfriendly gov about any usd movements.

The only drawback is that i spent my precious hodled satoshis. Now a frenetic bullrun will surely begin.. This is going to be the more expensive monitor ever (0.07 BTC for the records).

Enjoy the +200 usd rise in minutes.. That was me, spending sats.

Crap, Newegg is taking Bitcoin again?

I still can't bear to throw out my $4,000 cell phone from a few years ago. Aarrgghh!!!

That's OK, I am still holding my "$325" iphone from late 2017...
...er, not really, but it shows that sometimes you can get a bargain if spending strategically.
Something to remember in 2021-2022 as we peak, hopefully.

The calculation should not be very difficult for any HODLer attempting to have some reflection regarding their own financial goals - and the extent to which they are trying to accumulate BTC or if they are trying to accumulate consumer goods.

Surely, there is nothing wrong with ensuring either a certain level of comfort or a certain level of practicallity and status with consumption of goods and services, but no member should be spending from his/her BTC without giving it some insight regarding whether spending cash might be more preferable or considering if spending from the BTC is taking profits or might be able to be replaced at a later date for equal or lower costs.

If any member is feeling regret about spending 10k in bitcoin for two pizzas, then that mistake had already been made based on non-appreciation of future BTC value, but if such member still has another 10k BTC that is in cold storage, s/he may not give two fucks that the $10k BTC happens to be currently worth close to $100 million..even though it was only worth 2 pizzas in mid 2010.

Look what happened to Bob....  

You're a giant piece of shit, with nothing to back up your overinflated ego.

Please tongue my asshole clean.

I am just speaking based on evidence you provided yourself.

It's not like I am making things up, even though my BIG ASS ego does feel somewhat bad about drawing attention to some seemingly sad actualities.

[dragonvslinux]

Why no 1 day chart like you usually do huh? Still a bit bearish is it?


#pessimisticbull

not particularly..just like to mix it up somewhat from time to time

also..waiting for some of you young up and comers to start shouldering more of the load

I don't understand much about the cloud business, too much terminology for my liking. I tried translating kenkan, kijun, senkou, chikou before. Google told me it's Japanese.
I don't have anything interesting to say at current price levels, apart from the 2-month RSI pattern looks "cool". Not convinced how relevant this is though.



We are the resistance trend-line again, but still another 3 days before needing to make a decision.



There is a bull-cross of the 50 & 200 MA on the 4hr, that hasn't occurred for over 3 months. Probably relevant given how close these two were to crossing in recent months:



Kind of easy to be bullish right now for a number of reasons, as well as easy to make the case for being bearish simply for being at long-term resistance.

[xhomerx10]

Source:
https://twitter.com/webRat/status/1286141734557298688?s=20

So awesome.  But they forgot Idiocracy.

i think idiocracy is the big grey(ish) box everything else is in.

 Yes.  Yes indeed.

[ivomm]

[Icygreen]

<10K = discount pricing

https://www.coincenter.org/the-occ-has-formally-stated-that-nationally-chartered-banks-can-hold-cryptocurrencies-for-their-customers/
You'd think this would be a big deal. Doors are opening it would seem.

[LFC_Bitcoin]

Imagine selling now......

[JayJuanGee]

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.

Are you about to tell me that Satoshi never foresaw a day where 'maintaing the chain was the job of specialized servers, allowing users to just be users'?

First of all, Satoshi did make an evolving snapshot prediction based on what bitcoin was as of mid 2010 and how he considered bitcoin to potentially evolve, but NOT even Satoshi could predict every single factor or how events might play out, including how much intervention might be possible in terms of possible software changes (including segregated witness), or how back and forth competition whether we are talking about ASICs or just larger and larger computers or even government or financial institutions getting involved in mining or running nodes, even if a variety of matters, including a combination of running nodes and mining would help to determine bitcoin's direction or consensus that arises out of figuring out which users decide the direction of the chain or which chain is actually bitcoin, versus some snake oil baloney that spouts out talking points to try to propagandize people into believing that it might be the real bitcoin.

Currently, bitcoin does not have any meaningful competition from any of the cryptos or the sham bcash forks, so seems a bit ludicrous to continue to suggest any of the bcashes as if they were somehow sufficiently similar to bitcoin in terms of gaining much if any network effects, especially relative to bitcoin.

[Biodom]

Oh my...

https://cointelegraph.com/news/openai-bot-writes-a-blog-wows-bitcointalk-with-intelligent-posts

Except, Araoz wasn’t the one writing the blog. He hasn’t posted anything on asktom.cf’s forums for years —  and has nothing against its users. It was GPT-3 the whole time, he said...The bot’s predicted sentences were used for posts on the asktom.cf forum in recent days, leading to ‘positive’ feedback concluding “the system must have been intelligent".

[Wekkel]

It’s not hard to go above the average here 

Go GPT-3 !

Also make GPT-3 in charge of trading Bitcoin -> instant adoption. Because logical.

[Searing]

https://twitter.com/ShaneGoldmacher/status/1286106604513918981

Trump is speaking in an elaborate code but his message is crystal clear.

"Person, Woman, Man, Camera, T.V....."

He is saying he knows he will lose on Nov. 3, but that's good because Bitcoin Hyper-Bull Season is about to begin and he wants out of his blind trust so he can buy coins.  

Just to translate a small piece, Camera = 10k in August, 20k this year, 100k+ next year.  
 

Not sure...but I'm pretty sure Trump is NOT in a Blind Trust...thus the Supreme Court Case. (correct me if I'm wrong folks on here) ...

as to the 'code' idea ...he talks and walks like and idiot..that should be 'code' enough! (IMHO..its the USA you can think what you want about who you want)

Brad