Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3493. (Read 26713421 times)

Explanation

Lessons were learned from Napster and bittorrent was created which has stubbornly been resistant against shutdown. Those same lessons carried forward into the design of Bitcoin.

ouch. take it easy.. get better soon.

And how was the movie?

Damn.  Get better soon.

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I apologize for the accidental incongruity of what I just posted, coming right after you.  I was looking at older posts, trying to catch up on a few things I’d passed by before...  Just saw yours.  I won’t delete it.  Knowing you, you will probably laugh.

And get better soon.

Oh, really?

I have been planning to open a new cryptocurrency exchange, which allows only margin trading:  The Death Wish Exchange (DWEX).  It will be a DEX on Solana—because Solana becomes unreliable under heavy load, such as occurs from high tx volume every time that Bitcoin dips.  I will then program a high-performance liquidator bot called grim_reaper to scoop up cheap discount bitcoins from people who can’t even make deposits to save their accounts.  (Search the Web; there are many complaints from Solana users who got liquidated by highly tuned bots while struggling to make deposits.)

Hey, I’ve got to make myself some BTC somehow!

I have received spam from exchanges offering incentives to start trading on margin.  Now, you gave me a new idea:  Death Wish traders with leveraged longs who lose at least 0.1 BTC get a free Deathwish-brand skateboard with wheels doused in WD-40.  Those who lose at least 1 BTC get free cyanide capsules, plus a pearl-handled pistol for backup.  For those who lose at least 10 BTC, I’ll throw in a free tombstone.  And so forth...  Lose at least 1000 BTC, and you’ll get your very own customized, personalized Death Wish brand mausoleum!

When the market crashes, incentives to increase long leverage will be offered during the dead cat bounce.

Hmmm...  Need some incentives to short.  To start with, those who get rekt shorting Bitcoin at high leverage will get free llama tattoos on their foreheads.


For the past few days, as I’ve started to discuss topics other than my margin wreckage, I have been thinking to switch names one way or another.  I have not yet done so, for reasons that will be more apparent if/when I do.  “If or when.”  We’ll see...


After many years of telling myself something like that, I started to have some serious regrets about that kind of thinking.  I think Bitcoin, I talk Bitcoin...  I started to say to myself, I want me some more of those bitcoins.  It got to me.  And I suddenly flipped from being too non-greedy, too patient—to being stupidly greedy, too impatient.  I swung straight from one extreme to the other.

That is why I tried margin.

Food for thought.

I think that I should try more rational means of being a moneymaking mercenary capitalist.

Explanation

Damn. Get better soon! You gotta be careful on bikes. Those things have a mind of their own sometimes...

holy shit way behind, in a trauma ward atm.

Bike accident sunday night, gonna be ok will post more tomorrow hopefully,

OMFG! ... I now know from where did Bob got his avatar. .. He the german guy.   

IMHO, the fast falling out of 39K-48K  range to the low of $25.5K was the equivalent of 2018 move from $6-6.5K range to $3.2K.
The fact that it was smaller % could be explained by the fact that we did not have a blowoff top and instead had a relatively puny 3.2X entension (expected number from prior numbers and following diminishing returns trajectory was 8X or about $160K).

Of course, this is just my musings on the matter...anything could happen.

OT: SPY calls are doing great, about tripled already, bought a few AMZN and GOOGL for a presumed run (both are splitting 1:20, LOL), just a trade.

Explanation

It is an attack.  Please don’t be so complacent.  Yes, they can—if complacent Bitcoiners do not act to stop them!

Don’t take my word for it.  If you admire Ted Cruz, then watch the full video of Cruz’s May 23 speech (the original, not the botched edit you criticized).  Cruz says a few things that I find debatable; but he made some incisive points.

Near the end of his speech, Cruz warned Bitcoiners to remember Napster.  Although his analogy is imprecise due to Bitcoin’s greater decentralization, it is nonetheless a good and insightful analogy.  Cruz is alarmed, as I am, about Bitcoiners’ naïveté and complacency.

cAPSLOCK, Senator Cruz was talking to you (transcription is mine):


I will not comment on speculation about my identity, but I must object to your use of the term “sock puppet”.  You evidently don’t know what it means.

Sock-puppetry is not merely the use of multiple pseudonyms.  Although their policies are much more negative towards alt accounts than the Bitcoin Forum’s policies, Wikipedia’s official policy explanation of sock-puppetry is pretty good.

Sock-puppetry is the deceptive use of alternate identities to manipulate a discussion.  It typically takes the form of holding public conversations with oneself, creating nonexistent supporters to cheer for one’s own position, creating nonexistent stupid opponents as strawmen to rebut in fake debates, or creating new “supporters” to continue the argument after one’s account is banned (ban evasion).  It is called “sock-puppetry” by analogy to a puppet show put on by one person using lowbrow, homemade puppets made of socks.


That is a very serious accusation.  It goes far beyond idle speculation on my identity—and it is obviously untrue!  I presume that you misspoke.

Couldn't be bothered to say it when read this earlier but yes, this was a natural crash to $3.2K based on basic TA and probability. That of a 9-month long descending triangle with a -48% target to the downside. It hit perfectly. The so-called black swan event in 2018/2019 was supposedly based on BSV launch, but as per usual, this was simply attributing a cause to an effect, whereas a drop was due anyway.

PS - Gave you 20 merits for one of yours posts I liked in error. Was supposed to be 10 but clicked refresh to check remaining sMerits so sent another 10. Please redistribute wisely.

(El duderino_is to blame for my generosity)

This movie does make you kinda wish for Gayniggers from Outer Space to save you from the women and their tortures on this planet.

Explanation

Today I found out that John Cena bought over 2000+ BTCiTcoins with money he made from commercials inside China. But I think he kind f^ked that up. He talked about Taiwan being a country. ROFL!      

Muahaha... found this in comments: An amazing movie, I felt my heterosexuality disappear after watching, 10/10, life changing movie

Funny shit! 

This is a popular fallacy.  Please help to correct others’ misconceptions about it, instead of spreading it.

Bitcoin’s value does not derive from the inflow of energy.  This gets causality backwards—and it doesn’t even make any sense.

Bitcoin’s value causes its energy usage, rather than vice versa.  The higher that Bitcoin’s market value is driven by factors that have nothing to do with its energy use, the more that miners are incentivized to spend on energy.  This drives up the difficulty—thus closing a feedback loop that tunes Bitcoin’s BFT transaction ordering security, the effect, to follow Bitcoin’s market value, the cause.  To the extent that miners thus do contribute back to Bitcoin’s value, it is strictly a second-order effect—not the primary cause.

Higher market value needs higher security.  Higher market value indirectly pays for the higher security that it needs.  The system is subtle, and it’s brilliant!

A clear understanding of this is important for rebutting anti-Bitcoin misinformation and POS propaganda.  The supposed analogy between POW miners and POS stakers is a deceptive illusion, which I can rebut on many key points.  This is one:  Miners do not have economic primacy in Bitcoin’s POW system.

Miners are essentially paid employees of the Bitcoin network.  Their job is security-critical, so they are paid well; but they are neither the bosses nor the owners of the network, and they do not create the network’s value as a first-order cause.

By contrast, POS essentially means a network by the whales, of the whales—for little retail moon-chasers to pour in their dollars, for the benefit of the whales.

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This was the signal issue of the Fork Wars.  Bcashers contradicted what I said; their attempted “flippening” was based on the fallacy that miners have some sort of dominant role on the network, economically and otherwise.  Their theory failed.  And my theory, set forth above, was proved in practice.

If I were wrong about this, then we would all be using Bcash or S2X as the “real Bitcoin” now.

A related key point:  The security of consensus validation in Bitcoin is independent of miners, for all purposes except for transaction ordering.  Miners have a sharply limited function in Bitcoin:  BFT agreement on transaction ordering, to prevent double-spend attacks.  All other security is provided by the Bitcoin Core node you have running at home on a Raspberry Pi, consuming 10W of electricity at negligible cost.

This is not the case on POS networks.  On POS networks, so-called “validators” with high capital stake have total control of the blockchain.

This was just proved in practice a few days ago:  The Terra blockchain executed a contentious hardfork in 10 days (!), over massive community opposition.  To exercise central authority over an allegedly “decentralized” blockchain, Do Kwon and Terraform Labs needed only the collusion of a relatively small group of large, wealthy DPOS companies.  Imagine if Bitmain had that type of power over Bitcoin, and you get the idea of how POS really works!


Nope.  When the price reaches 6 digits—the cause—then miners will spend enough on electricity to secure the transaction ordering on a network holding trillions of dollars worth of value—the effect.

It is indeed a “closed-loop” system, as you say; but the loop runs in the direction opposite to what you suggest.

Still remember your endorsement of Gayniggers from Outer Space.  Great piece !


https://www.youtube.com/watch?v=H-PPhHWzsrw

I'm honestly in awe that YT's woke crowd hasn't censored its title yet...