Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 2443. (Read 26712708 times)
February 03, 2023, 04:01:20 AM
February 03, 2023, 03:32:19 AM
I've had some time to sleep and think on this, now, and the more I think about it, I'm just left terrified about the implications this ordinal stuff has for Bitcoin.
I see it as a very real existential threat.
I sincerely hope I am dead wrong.
I see it as a very real existential threat.
I sincerely hope I am dead wrong.
I'm not an expert when it comes to this new Ordinal thing and how it is implemented, but the possibility of "polluting" the Blockchain with bad data got me seriously worried. The issue here is not so much that it is possible for someone to insert child pornography and/or top-secret defense documents in the Blockchain (which in itself is unsettling), but the fact that the Blockchain is immutable and thus cannot be altered, and this is by design. So, this offensive/sensitive data will have to be there forever, and this could provide a strong reason for TPTB to attack/ban Bitcoin "for the common good".
I assume that, if this ever becomes a problem, it should be possible to handle via a fork, with the new code base removing this feature and also somehow removing all offensive/sensitive content. Said fork will have near-full consensus, so it will become the new, sanitized Bitcoin. The Bitcoin ecosystem should be able to handle this. Another battle, another win for Bitcoin.
Still, all this mess upsets and worries me. Hopefully, Bitcoin will come out of this stronger than ever, as it has done so many times.
February 03, 2023, 03:08:14 AM
So far 24K being rejected multiple times doesn't hurt much. BTC has plenty of time this year and the first half of 2024 to climb two more floors and stabilize around them - 30K-ish and 40K-ish. For those who doesn't get my thought - by stabilizing I mean the median price yearly speaking. This means that for a short time the price can climb up much more but then it will drop back and stay there for a longer period. So, the year high could be 50K+ but the median price around 30K. This is what is important for the next bull market, not the spikes. I really hope this will happen, but there is still a possibility of returning to sub 20K prices if the resistance 24K holds for too long. Historically, however, any price resistance far below a round number has never been a psychological barrier, so 24K shouldn't be a problem.
February 03, 2023, 03:01:17 AM
February 03, 2023, 02:59:59 AM
A massive Chinese surveillance balloon spotted hovering over Montana, U.S.
February 03, 2023, 02:01:18 AM
February 03, 2023, 01:01:22 AM
February 03, 2023, 12:27:29 AM
A massive Chinese surveillance balloon spotted hovering over Montana, U.S.
February 03, 2023, 12:25:43 AM
What I don't understand: some are saying higher fees due to ordinals could mean increase of USD/BTC. But wouldn't miners be able to sell BTC for cheaper prices than usual, when they made more revenue off fees?
higher fees might speed up a fee-based mining model though that would eventually be needed, when block rewards get too low, due to the halvings ...however that's still long time ahead...
higher fees might speed up a fee-based mining model though that would eventually be needed, when block rewards get too low, due to the halvings ...however that's still long time ahead...
February 03, 2023, 12:16:16 AM
but it will still need a front end application that can decode and display that content.
Exactly. Not really a big deal. It will be something people need to explicitly seek out in order to see, not something one can just stumble across. As it always has been.
February 03, 2023, 12:01:18 AM
February 02, 2023, 11:36:15 PM
Sometimes needs to be repeated.
I Lol'd.
https://i.imgur.com/ndI5EIK.mp4
Sauce:https://imgur.com/gallery/4bvj5UO
February 02, 2023, 11:33:42 PM
If anybody's bored and wants something to play with, here's a bash script to estimate the number of days until the next halving
Code:
#!/bin/bash
date --iso-8601
bid=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".bid")
ask=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".ask")
#p0 is midmarket price to 2 decimals
P0=$(bc -l <<< "scale=2; ($bid+$ask)/2")
echo "mid-market BTCUSD: "$P0
#height=$(curl -s "https://blockchain.info/latestblock" | jq -r ".height")
height=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".height")
time=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".time")
#May 11, 2020 19:23 halving time 1589225023
#seconds since last halving (sslh) = $time-1589225023
sslh=$(($time-1589225023))
#days since last halving (dsince) = seconds/86400
dsince=$(bc -l <<< "scale=6; $sslh/86400")
#projected days of 2020-2024 halving (dproj) = (time-1589225023)/((height/210000-3)*86400)
dproj=$(bc -l <<< "scale=6; $dsince/(($height/210000)-3)")
echo "projected duration of the current halving:"
echo $dproj
#rounding procedure
#extract decimals, double, add 1
num=$(bc -l <<< "scale=6; 2*($dproj-${dproj%.*})+1")
#truncate, subtract 1, divide by 2
num=$(bc -l <<< "scale=6; (${num%.*}-1)/2")
#add to original variable
dproj=$(bc -l <<< "scale=6; $dproj+$num")
#truncate
dproj=${dproj%.*}
echo $dproj "days"
date --iso-8601
bid=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".bid")
ask=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".ask")
#p0 is midmarket price to 2 decimals
P0=$(bc -l <<< "scale=2; ($bid+$ask)/2")
echo "mid-market BTCUSD: "$P0
#height=$(curl -s "https://blockchain.info/latestblock" | jq -r ".height")
height=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".height")
time=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".time")
#May 11, 2020 19:23 halving time 1589225023
#seconds since last halving (sslh) = $time-1589225023
sslh=$(($time-1589225023))
#days since last halving (dsince) = seconds/86400
dsince=$(bc -l <<< "scale=6; $sslh/86400")
#projected days of 2020-2024 halving (dproj) = (time-1589225023)/((height/210000-3)*86400)
dproj=$(bc -l <<< "scale=6; $dsince/(($height/210000)-3)")
echo "projected duration of the current halving:"
echo $dproj
#rounding procedure
#extract decimals, double, add 1
num=$(bc -l <<< "scale=6; 2*($dproj-${dproj%.*})+1")
#truncate, subtract 1, divide by 2
num=$(bc -l <<< "scale=6; (${num%.*}-1)/2")
#add to original variable
dproj=$(bc -l <<< "scale=6; $dproj+$num")
#truncate
dproj=${dproj%.*}
echo $dproj "days"
Nice job commenting.
February 02, 2023, 11:01:21 PM
February 02, 2023, 10:54:16 PM
February 02, 2023, 10:42:12 PM
February 02, 2023, 10:01:24 PM
February 02, 2023, 09:14:10 PM
If anybody's bored and wants something to play with, here's a bash script to estimate the number of days until the next halving
Code:
#!/bin/bash
date --iso-8601
bid=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".bid")
ask=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".ask")
#p0 is midmarket price to 2 decimals
P0=$(bc -l <<< "scale=2; ($bid+$ask)/2")
echo "mid-market BTCUSD: "$P0
#height=$(curl -s "https://blockchain.info/latestblock" | jq -r ".height")
height=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".height")
time=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".time")
#May 11, 2020 19:23 halving time 1589225023
#seconds since last halving (sslh) = $time-1589225023
sslh=$(($time-1589225023))
#days since last halving (dsince) = seconds/86400
dsince=$(bc -l <<< "scale=6; $sslh/86400")
#projected days of 2020-2024 halving (dproj) = (time-1589225023)/((height/210000-3)*86400)
dproj=$(bc -l <<< "scale=6; $dsince/(($height/210000)-3)")
echo "projected duration of the current halving:"
echo $dproj
#rounding procedure
#extract decimals, double, add 1
num=$(bc -l <<< "scale=6; 2*($dproj-${dproj%.*})+1")
#truncate, subtract 1, divide by 2
num=$(bc -l <<< "scale=6; (${num%.*}-1)/2")
#add to original variable
dproj=$(bc -l <<< "scale=6; $dproj+$num")
#truncate
dproj=${dproj%.*}
echo $dproj "days"
date --iso-8601
bid=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".bid")
ask=$(curl -s "https://www.bitstamp.net/api/ticker/" | jq -r ".ask")
#p0 is midmarket price to 2 decimals
P0=$(bc -l <<< "scale=2; ($bid+$ask)/2")
echo "mid-market BTCUSD: "$P0
#height=$(curl -s "https://blockchain.info/latestblock" | jq -r ".height")
height=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".height")
time=$(wget -q -O - "https://blockchain.info/latestblock" | jq -r ".time")
#May 11, 2020 19:23 halving time 1589225023
#seconds since last halving (sslh) = $time-1589225023
sslh=$(($time-1589225023))
#days since last halving (dsince) = seconds/86400
dsince=$(bc -l <<< "scale=6; $sslh/86400")
#projected days of 2020-2024 halving (dproj) = (time-1589225023)/((height/210000-3)*86400)
dproj=$(bc -l <<< "scale=6; $dsince/(($height/210000)-3)")
echo "projected duration of the current halving:"
echo $dproj
#rounding procedure
#extract decimals, double, add 1
num=$(bc -l <<< "scale=6; 2*($dproj-${dproj%.*})+1")
#truncate, subtract 1, divide by 2
num=$(bc -l <<< "scale=6; (${num%.*}-1)/2")
#add to original variable
dproj=$(bc -l <<< "scale=6; $dproj+$num")
#truncate
dproj=${dproj%.*}
echo $dproj "days"
February 02, 2023, 09:01:17 PM
February 02, 2023, 08:30:07 PM
snip
Too bad 13 year olds can
Are there really people who are driving around THIS stupid??
https://twitter.com/ClownWorld_/status/1620856956729851906
https://twitter.com/ClownWorld_/status/1620856956729851906
No.... that couldn't be staged...it's Twatter.... Nice penny whistling though....
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