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

[jbreher]

Your turn. What is the definition of decentralization to which you adhere, DaRude? Hmmm?

Riiiight, that's just you bitching about nodes, still not seeing you defining decentralization, and criteria that you used to come to conclusion that BTC and BSv are as decentralized? Surely you're not just putting out claims without backing them up  

Still dodging, eh? Nothing to offer?

Huh, YOU claimed that both coins are equally decentralized, i asked for you to back it up, and you're asking me to define decentralization?

Yes. I quite clearly specified in what way I see it as such. You, OTOH, keep clinging to nothing other than 'but muh decentralization', with no explanation as to what you mean by such. Ball's in your court Bucky. Can you volley?

Ahh and there we have it. So following your logic and your definition of decentralization, BTC is as decentralized as BCD (Bitcoin Diamond)?

Well, no. As you would know, if you had more than two brain cells to scrape together, BCD is not a SHA256 coin. As such, it has no meaningful ties to the satoshi legacy.

Keep trying, tho. Maybe some day you'll arrive at an incisive observation.


Maybe.

Ahh right i see, so then by your definition of "decentralization" BCD is even more decentralized than BSv because it's NOT using SHA256?

Well, no.

By not having a tie to the satoshi protocol, BCD is irrelevant, no matter its level of decentralization.

Though your insistence on using it as an example does say a lot about you. After all, on the axis of mining distribution, if the criteria is 'who has enough resources to be able to economically mine it', then BCD is quite a bit more decentralized than is BTC. So as you are the one worshipping the false god of 'but muh decentralization', do you prefer BCD to BTC?

Incidentally, still waiting for that definition of 'decentralization' that you've been dodging for over a week now.

[jbreher]

YOU claimed that both coins are equally decentralized, i asked for you to back it up, and you're asking me to define decentralization?

decentralization = ONE (ok manybe a few) datacenter that has the capacity to process this BSV nearly infinate size (at some point) gigabigabloatware data where everything including the kitchen sink and toilet plus the contents of those that goes down it and is stored on chain? i guess always wanted to know the exact composition of my septic tank contents. a "decentralized" blockchain that only huge AWS instances or other supercomputers and the likes likes can run?

No. But nice mischaracterization. At this point, there are plenty of 'normal' computers processing the BSV blockchain.

AFAIC, as long as there are no exclusionary barriers for new entrants to participate, then non-mining validation is exactly as decentralized as it need be. More such 'decentralization' is a red herring that serves no useful purpose. I realize this is a controversial perspective, but it is the one I hold.

The alternative is to dumb down the entire system to 3 to 7 transactions per second. The notion of such a system working as world money is so ludicrous that it beggars the imagination that anyone would so think.

[-CryptoViking-]

It inspired me so I made a little video   Quality is terrible, because it is impossible to find full original clip nowadays.
 
Pumpamentals

[jbreher]

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.

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

[Hueristic]

Bump is nice!

Meantime I saw this and just fell over laughing. I simply do not think this well....

Good one!

Hah. Al three a yas missed the point. Congratulations.

We didn't miss it, we saw through it.
we are not so foolish as to fall for your tactics.

[Hueristic]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it, the only reason why it is still functioning is because no one cares enough to swat it..

[dre1982]

It's real everytime they say. Let's hope this is the real one.

5 digits and more ;-)

[jbreher]

We didn't miss it, we saw through it.
we are not so foolish as to fall for your tactics.

What 'tactics'? Expounding upon the truth as I see it?

[jbreher]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

[JayJuanGee]

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.

As we discussed several times previously, guys who are earning money in bitcoin or they are mining bitcoin are in a bit of  a different place than those who are earning money in dollars and having to buy their bitcoin.

So for those earning in bitcoin, it is way easier to sell bitcoin here and there along the way because you need to balance yourself, to have enough fiat to cover your fiat expenses (and other discretionary consumption), and it is likely just a regular activity to have to sell a certain amount of BTC on a regular basis (especially if you do not have enough fiat cashflow to cover your expenses and at least your prudent discretionary consumption).

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.

I wouldn't doubt that.

 



You fuck... said under my breath.

[Hueristic]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

Reasons.

[Toxic2040]

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.

Its really quite simple in my opinion. It is just 5 inputs really...actually perhaps you could say 3 as the leading span A and B are predictive averages usually set 26 periods into the future. There is some debate on what 'settings' to use, for most its 9 26 52 26. Doubling these settings to 18 52 104 52 or perhaps 20 60 120 30 can induce interesting results as bitcoin trades 24/7 compared to the 8 hours most legacy markets use. The 20 60 120 30 setting is problematic as it skews the span B and base line inputs with unequal averages in my opinion. Still powerful on longer time frames it can be said however.

The key thing that you need to wrap your head around is the difference between moving averages and ichimoku. Where a simple moving average takes the closing price over a set period and adds them up and then divides by the set period, ichimoku takes that same set period and calculates the highs and the lows of the period and then divides by 2.

Here are some key terminology and the maths behind the curtain.

tenkan-sen or the conversion line = (9 period high + 9 period low)/2))

kijun-sen or the base line = (26 period high + 26 period low)/2))

chikou span or the lagging span = the closing price 26 days in the past

senkou span A or the leading span A = (conversion Line + Base Line)/2))

senkou span B or the leading span B = (52 period high + 52 period low)/2))

As each period closes it begins to 'paint' the cloud across the sky so all the animals have a place to dance.

#dyor

D

#stronghands


ps  many of us at the Wall are old, deaf and near blind...larger images are appreciated by many   

[Wekkel]

Or modern forum software. I can only read BCT on my iPhone (Chrome). On Android, the letters are just noise to my eyes, so small 

[Toxic2040]

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".

jjg.exe confirmed   

+1 WOsMerit

[JayJuanGee]

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.

Great idea regarding "both" ways, even though maybe finishing with our current UPpity momentum might be better before proceeding with DOWN.. in the event that down does end up taking place.

I tend to prefer UP before DOWN

rather than


DOWN before UP...



Even if it feels that we are ending up in the same place after the back-n-forth plays out.

[Hueristic]

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".

Now for the fun part

I have a confession: I did not write the above article. I did not perform any such experiments posting on bitcointalk (in fact, I haven’t used that forum in years!). But I did it on my own blog! This article was fully written by GPT-3. Were you able to recognize it? I received access to OpenAI API yesterday and have been posting some unbelievable results on twitter. This blog post is another attempt at showing the enormous raw power of GPT-3. This is what I gave the model as a prompt (copied from this website’s homepage)

https://maraoz.com/2020/07/18/openai-gpt3/

[JayJuanGee]

AFAIC, as long as there are no exclusionary barriers for new entrants to participate, then non-mining validation is exactly as decentralized as it need be. More such 'decentralization' is a red herring that serves no useful purpose. I realize this is a controversial perspective, but it is the one I hold.

Controversial might be a bit of an understatement because I doubt that you are making such proclamations even genuinely, but it seems to be your flavor of the month distraction into making obscure nonsensical arguments that might make some sense on the surface, but really would not hold much if any water, if trying to actually play them out as a comprehensive approach to security, decentralization, immutability, competitive incentive creation and the various other bases that kingdaddy bitcoin covers, but neither of your bcash shitcoin imitation wannabes come even close to covering because they consist of teams of 100 each, give or take 97.  

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".

jjg.exe confirmed    

+1 WOsMerit

If you don't watch it ToxicMoxic, I am going to send yefi after you.


This is an actual recent POV picture of yefi, before we made up. #nohomo


-1 WOsMerit

[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".

Now for the fun part

I have a confession: I did not write the above article. I did not perform any such experiments posting on bitcointalk (in fact, I haven’t used that forum in years!). But I did it on my own blog! This article was fully written by GPT-3. Were you able to recognize it? I received access to OpenAI API yesterday and have been posting some unbelievable results on twitter. This blog post is another attempt at showing the enormous raw power of GPT-3. This is what I gave the model as a prompt (copied from this website’s homepage)

https://maraoz.com/2020/07/18/openai-gpt3/

who is to say that this "confession" was also not written by GPT-3?
...it's [GPT-3]s everywhere to horizon now  

[infofront]

Well, no. I think that placing your trust in the lowest common denominator is trust misplaced.

Further, I am not looking for a system 'governed by the technocratic elite', I am looking for a system with enough capacity to be money for the entire world. And 3-7 tx/s just ain't gonna cut it.

Your bloated Weather recording chain will never cut it

Because....?

BSV's fate should be clear after the next major parabolic rise, I'm going to assume. It might be the preferred path for bitcoin hopefuls who jump ship from BTC if the blockchain becomes clogged again.

Or non-BTCers might prefer BCH. Or the BTC blockchain might not become clogged (2nd layer solutions). Or transaction fees will be sky high, but no one will care because their BTC will be worth $100K+, and no one cares about buying coffee with BTC anymore (BTC=digital gold narrative). I'm guessing those possibilities are all priced into the ~98% discount that BSV currently has against BTC.

[Toxic2040]

If you don't watch it ToxicMoxic, I am going to send yefi after you.


This is an actual recent POV picture of yefi, before we made up. #nohomo


-1 WOsMerit

I am sorry..your attempt at demeriting has failed due to a invalid checksum. We have initiated and completed a UASF that has rendered WOsMerits immutable. No more demerits. That is all.