12:30 Am
Happy thursday
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 4752. (Read 26609929 times)
September 15, 2021, 10:26:35 AM
September 15, 2021, 10:24:58 AM
[edited out]
The "pyramid scheme" was an attempt to raise understanding WHY nocoiners still see Bitcoin as such, while the actual happenings (history) of Bitcoin show that it's not really the case.
People tend to simplify (as do i in my argumentation more often than not). It's easier for them to remember the pyramid scheme narrative than educate themselves in Bitcoin, economy and sound money principles. Bringing in the "pyramd scheme argument" was a perfect move and the narrative grew successfully.
Now it's harder to get followers of the "pyramid scheme conspiracy" educated. A (temporary) win for the "fiat society", because people tend to stay with simple explanations and affirmations. Most people do hard to change their beliefs. Give a simple explanation for a complex question (on a complex subject) and the most dumbest guy/gal will "understand".
We can agree to disagree.. As I already attempted to explain, I consider that the pyramid scheme framework is the opposite of helpful because it is misleading about what bitcoin is, even if people might be able to relate to such a framework.
That is an important factor of AlcoHODL's collegues and relatives NOT really understanding Bitcoin, because they think they already do.
I have my doubts about if AlcoHoDL would be presenting the pyramid scheme as an educative framework to explain bitcoin, unless he were merely striving to contrast bitcoin with such scheme in some kind of way.
Perhaps AlcoHoDL could chime in on this point in terms of whether he would use a pyramid scheme framework to explain bitcoin, merely as a contrast or in some other way.. As I already mentioned, seems distracting and misleading in terms of costs versus benefits in using it rather than helpful from my point of view.
Second biggest factor: Trust.
Humans trust information more, the closer the relation is to the informer. We don't want to be alone, we don't want to decide alone, so we take over narratives from people we look up to, as well as from people we relate to on the "same height of sight" (as we tend to say in my country). While people like us (WO's) are likely seen as freaks by normie nocoiners, they tend to keep trust to information from other normie nocoiners, which form a bigger group they feel related to, while we may seem like mavericks.
Humans trust information more, the closer the relation is to the informer. We don't want to be alone, we don't want to decide alone, so we take over narratives from people we look up to, as well as from people we relate to on the "same height of sight" (as we tend to say in my country). While people like us (WO's) are likely seen as freaks by normie nocoiners, they tend to keep trust to information from other normie nocoiners, which form a bigger group they feel related to, while we may seem like mavericks.
Fair enough. There surely is going to be a need to attempt to relate to any audience that we have, and surely any audience is going to be more receptive when able to relate - but I doubt that should mean that we give up and say that we are ONLY going to allow nocoiners to educate other nocoiners, because then they would be just sharing a circle of ongoing retard.
In the background it's even more complicated, just wanted to highlight the simple aspects that stand out more.
To keep it short: Peeps either doing something or not, they are basically driven by fear or love. They fear (refuse) things they don't know, they love (accept) things they do know.
To keep it short: Peeps either doing something or not, they are basically driven by fear or love. They fear (refuse) things they don't know, they love (accept) things they do know.
With almost any kind of learning, especially something that seems daunting and complicated, it can take quite a bit of time to get to various points of understanding... so sure, the more that is understood about basics, then the easier it becomes to learn more complicated ideas after gaining more foundational understandings. And, sure many times, many of us fear being overwhelmed by too much information and we have to attempt to learn at a pace that allows the information to sink in rather than completely going passed us.
Strangely, my attention was always drawn to the unknown (which provided me fantastic experiences in the past and present, by the way).
Of course, some people are more adventurous than others in terms of desires to learn, and even some people who might not have tended to be intellectually curious can sometimes be brought around to increasing their intellectual curiosity after they learn some basics that they had not previously understood. Surely, people are not necessarily going to totally transform their way of being or their seemingly natural inclinations, but sometimes they will develop curiosities in areas that had previously been uninteresting to them.
EDIT: Fuck, missed to break CB triplet by a minute :/
You slowpoke!!!!!!!
September 15, 2021, 10:14:26 AM
48k.
Volume is weak though but at least its going in the right direction.
Volume is weak though but at least its going in the right direction.
September 15, 2021, 10:01:37 AM
September 15, 2021, 09:48:24 AM
Never heard of him until i saw Jim Carrey tweeting about him, guess he was big deal.
Om Shanti
Om Shanti
September 15, 2021, 09:32:29 AM
El Salvador another achievement as half a million population is already using the official wallet Chivo which have $30 of bitcoin as signup bonus
Source: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
Official government wallet, that is a disaster in the making. Bitcoin has no official walletSource: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
The people of El Salvador are protesting against Bitcoin bill
https://cryptoslate.com/the-people-of-el-salvador-are-protesting-against-bitcoin-bill/
Protest is outdated. So we can forget that part.
As for official gov wallet = that would just be a way to get proper KYC/AML or whatever and for the people to claim their $30 worth of bitcoin. They can always just download and use any other wallet, Bitcoin, Electrum, whatever and transfer their coins there.
There is no "official" wallet, but the de facto reference implementation is still the Core release.
September 15, 2021, 09:23:53 AM
El Salvador another achievement as half a million population is already using the official wallet Chivo which have $30 of bitcoin as signup bonus
Source: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
Official government wallet, that is a disaster in the making. Bitcoin has no official walletSource: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
The people of El Salvador are protesting against Bitcoin bill
https://cryptoslate.com/the-people-of-el-salvador-are-protesting-against-bitcoin-bill/
Broke NOCOINERS gonna tard.
September 15, 2021, 09:19:06 AM
El Salvador another achievement as half a million population is already using the official wallet Chivo which have $30 of bitcoin as signup bonus
Source: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
Official government wallet, that is a disaster in the making. Bitcoin has no official walletSource: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
The people of El Salvador are protesting against Bitcoin bill
https://cryptoslate.com/the-people-of-el-salvador-are-protesting-against-bitcoin-bill/
July 23? Really? GTFO!
September 15, 2021, 09:01:26 AM
September 15, 2021, 08:47:18 AM
Don't know if anyone has been keeping an eye on China of late. But it seems like they may be in the beginnings of a financial crisis. The CCP is still ramping up the crazy tyrannical government thing, and they seem to be playing hard ball with the capitalist side of things and want to reverse the strangle hold that the corporations, particularly finance, have over the country. Of course the funny thing about that is that the CCP created this monster in the first place.
Anyway, I've switched my forced legacy market holdings to 75% bonds, will keep it that way for 2 months, or till a 20% decline in the markets. Even if the CCP doesn't back down and throw the money printers at it, we all know the FED will if this thing spreads, so I wouldn't want to hold out for more than a 20% decline.
https://www.zerohedge.com/markets/chinas-lehman-moment-arrives-13th-anniversary-lehman-bankruptcy-beijing-tells-banks
Anyway, I've switched my forced legacy market holdings to 75% bonds, will keep it that way for 2 months, or till a 20% decline in the markets. Even if the CCP doesn't back down and throw the money printers at it, we all know the FED will if this thing spreads, so I wouldn't want to hold out for more than a 20% decline.
https://www.zerohedge.com/markets/chinas-lehman-moment-arrives-13th-anniversary-lehman-bankruptcy-beijing-tells-banks
September 15, 2021, 08:10:17 AM
El Salvador another achievement as half a million population is already using the official wallet Chivo which have $30 of bitcoin as signup bonus
Source: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
Official government wallet, that is a disaster in the making. Bitcoin has no official walletSource: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
The people of El Salvador are protesting against Bitcoin bill
https://cryptoslate.com/the-people-of-el-salvador-are-protesting-against-bitcoin-bill/
September 15, 2021, 08:01:25 AM
September 15, 2021, 07:53:04 AM
El Salvador another achievement as half a million population is already using the official wallet Chivo which have $30 of bitcoin as signup bonus
Source: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
Source: Half a million users using Chivo wallet
It has just adopted it as legal tender and this is growth so many are going to adapt to the same.
I am still holding my breath. This is a HUGE crossroads for bitcoin. Either this works or it doesn't. And if it does the question is how well, and will we be able to keep going?
On my own end, two very notable changes can be seen with my lightning node:
1. My traffic continues to go parabolic. I am routing hundreds of payments a day now. Much more than in the past.
2. The payment sizes show a real difference. Seem like people PLAYING with the network, or balancing channels will send small round payments. I used to see lots of 1000, 10000, 100000 type payments... or little patters like 40005 40006 40007. Now they are very random, and generally around the $5-$25 range. The patterns that look like people playijng around are going away (still there but now like 10%) and there are even 10 minute periods of time in which my node routes millions of sats (in the tens of thousands USD value).
So from my vantage point stuff is happening for sure.
The next few months really are critical.
September 15, 2021, 07:05:28 AM
This is very true and I know first hand. Without giving too much away for opsec reasons, a mate of mines company is in the business of power generation and depending on the rates and demand at times sometimes it actually COSTS them to get rid of the power they generate. I suggested a while back they use that excess energy to mine bitcoin and it took a while but they actually did their research and just bought 1.5EH of gear that they're rolling out as a test. They have 7 more sites that if this works out they will expand to; this is a company that previously had ZERO exposure to bitcoin. Their plan is to sell off a percentage to cover costs and hold the rest. Could end really well for them and could possibly end in a job for me as well
This is exactly what the company I mentioned in my thread is doing: helping legacy Power producers to integrate their revenue mix by self consuming electricity to mine bitcoin, whiteout any knowledge on the matter.
I don’t know your location, but the guys there have plants all over the Alps, Russia and Chile.
Read it here: ALPS BLOCKCHAIN: mining in Italy from 100% renewable energy
Again:*** I am not involved with that firm***
None of those countries
September 15, 2021, 07:01:35 AM
September 15, 2021, 06:01:28 AM
September 15, 2021, 05:01:28 AM
September 15, 2021, 04:33:49 AM
https://www.zerohedge.com/commodities/spanish-govt-announces-temporary-tax-cuts-soften-blow-consumers-after-record-power
... I think we are going to start seeing this all over the globe before too long, power prices are going to be the canary in the coalmine for inflation (hyper inflation?) that the central banks have set in motion
... bitcoin will play it's part, mining sets the floor on the bitcoin price and power prices being a major contributor to the average cost of mining bitcoins
... if bitcoin becomes something of a reserve money in the long term the rate of btc/kWh should be asymptotic globally whereby demand for money and demand for energy will be competing in a correlated market ... interesting to see what happens to free market interest rates in that scenario
... I think we are going to start seeing this all over the globe before too long, power prices are going to be the canary in the coalmine for inflation (hyper inflation?) that the central banks have set in motion
... bitcoin will play it's part, mining sets the floor on the bitcoin price and power prices being a major contributor to the average cost of mining bitcoins
... if bitcoin becomes something of a reserve money in the long term the rate of btc/kWh should be asymptotic globally whereby demand for money and demand for energy will be competing in a correlated market ... interesting to see what happens to free market interest rates in that scenario
September 15, 2021, 04:01:33 AM
September 15, 2021, 03:51:29 AM
This is very true and I know first hand. Without giving too much away for opsec reasons, a mate of mines company is in the business of power generation and depending on the rates and demand at times sometimes it actually COSTS them to get rid of the power they generate. I suggested a while back they use that excess energy to mine bitcoin and it took a while but they actually did their research and just bought 1.5EH of gear that they're rolling out as a test. They have 7 more sites that if this works out they will expand to; this is a company that previously had ZERO exposure to bitcoin. Their plan is to sell off a percentage to cover costs and hold the rest. Could end really well for them and could possibly end in a job for me as well
... this is awesome, well done for setting this in motion. I think bitcoin mining has a lot to offer in the way of smoothing out grid operation and thus making grids in net overall more efficient electricity systems.
... especially with the intermittent supply of wind and solar renewables now being added to grids in many regions that is threatening to destabilise operations, bitcoin mining can be used as an easily sheddable baseload that can soak up excess power when required and drop out at peak times
... the people currently slamming bitcoin mining are the usual climate-alarmist nutters who are clueless when it comes to systems engineering and the wholistic analyses needed to fully grok what's going on.
... when free markets are allowed to do their thing, usually it's sufficient for prices to give the correct signals about what is the systemically most efficient way to operate ... but alas with fiat money, central bank interest rate settings, top-down interference for opaque "carbon" reasons, we are closer to command and control economic systems a la Soviet Union, including grid operations, than the classical small-c capitalism and free markets.
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