Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5556. (Read 26607462 times)

There is only one reasonable way to read it.  It is wrong, and whoever made it should feel bad.

Bigblockers suffer the same essential fallacy as UBI socialists:  They don’t understand markets.  Bitcoin network capacity is in extremely high demand—high enough that fees reach an equilibrium at the highest that the market will bear, and that in turn limits demand.

A modest linear bump in the blocksize (= supply) would be soaked up instantly, with fees and backlog settling back to where they are now as more people try to make more transactions that are currently not even attempted.  Meanwhile, that linear blocksize increase would non-linearly increase the resource demands on nodes.  (And a large increase of the blocksize, à la CSW rhetoric, would just wreck the network.)

Increasing base-layer capacity to, what, maybe 30–40 tps tops would be a sick joke at a cost that would surprise people.  It would not solve any problems, and it would create many.  We need technologies supporting tens of thousands of TPS or more; a doubling (or whatever) of the current blocksize is insufficient by orders of magnitude, too much and not enough all at once.

A blocksize increase would obviously increase miners’ BTC revenue per successful block:  Blocks would be just as full, and fees would be just as high, and there would be more transactions per block.  But on the other hand, it would also raise miner costs by increasing the orphan rate (and/or the cost of infrastructure to try to avoid this problem); and it would damage Bitcoin’s long-term value proposition, which is bad for miners who have long-term capital investments in Bitcoin.

Never forget that the blockchain with the Nakamoto Consensus is the world’s most inefficient database.  That is the cost of decentralization.  A trusted authority serving as the central arbiter of transaction order, à la Digicash, would be orders of magnitude more efficient and would have other advantages.  It obviously has some fatal disadvantages; observe that Digicash died over two decade ago.  The inefficient database is evidently a worthwhile cost to bear; evidence:  Bitcoin has value!  Just keep in mind that it is costly.  Freedom is not free.

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Oh, “llama”?  I read it as “lamer”, but I am not sure.  Also, I do not care.  The rest of it is clear, and it is stupid.  Honey badger ain’t up a tree; and the bulls don’t look very dead from where I sit!

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P.S., DaRude, could we please have some more peash and luff in WO?  If you criticize Marcus for posting meaty pictures, then his feelings may be hurt, and he may feel discouraged from the benevolent charitable giving of these virtual meals, and then I may literally starve to death.  Do you want for me to starve!?  You are just full of hate.  

Why is Samson tweeting this now? Or am i reading it wrong

Yeah i kind of figured reading comprehension might be an issue here.

Well, too bad.  I want for my money to be boring.  If I wanted more excitement, then I would go to Ethland where the “move fast and break things” dev culture sometimes results in a chainsplit, a major outage of a centralized API provider, and Binance halting withdrawals.  NOT BORING!  With Ethereum, you are kept on the edge of your chair wondering if your money even still exists.  Bitcoin lacks this feature:  BORING.

Ethereal curse:  “May you have interesting times with your wallet.”

David Kleiman disappeared exactly 8 years ago.

Hats off to Phil_S  for this chart that sees 2x still hold as of april 2021   (and that the recent insane spike to $60,000 is within the high bound and nothing really special eg is less in relative terms to the $17,000 spike.) For any newbies on this site this chart basically says buy now. Sure, I and some others think the price will resettle in the region of $12,00-$30,000 for a bit so you may not want to go all in at $50,000 which is about where its at today but even if you bought lots very soon (in the next year say) it will all come right in a matter of a 1 year or two after that when you join the the "doubling bandwagon".  GO BITCOIN GO!

Hey, Satoshi! PM me!

No.  After reading that, I do not feel any better.

 


There's no blocksize debate, currently.  Must be a historical reference, no?  I know it was posted (tweeted) in the past 7 hours, but still.. old news, no?


You may have noticed that I am not a very BIG fan of technical indicators in bitcoin, but I do not claim to be a trader, even though I have some practices that might be considered to be trading.

So yeah from time to time, if peeps (including members in this thread) are posting about technical indicators, might cause me some ccciiitttteeee.. and not necessarily in a good way.

 

In any event, you do you, and surely you may well be getting some backlash from time to time from some of us (referring to yours truly, of course), who don't get too excited about technical indicators.. except citteee in a negative direction.

You can’t.  I excel in my duty to make the world cuntier.


What do you mean?  I think that I would specialize in nymphonomy, which sounds to me like the scholarly systematization of nymphs.  If you want to “unsee”, perhaps you mean nymphectomy?  That sounds cruel.

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P.S., daily reminder that my avatar has an erotic subtext based in the refined literature of classical antiquity:


Now, “unsee” that!

How to unsee???

Whatever it seriously need some Nymphotomy.

Hardly possible.

Real peeps gots feelings.

What do you think, I am a bot?

 


My tone is one that I choose based on the content of what I am attempting to provide as a response, for example.  You may likely deserve even more of a condescending tone, even though I believe that I have found an adequate balance.


Huh?  Largely I have been responding to your nonsense rather than attempting to present myself as if I know more than others, but sure I can see where you might conclude that, especially when you are seeming to fail/refuse to even understand what I have been saying.. at least your responses seem to show that you might have a decent level of lackenings that you seem unable to even appreciate (or recognize).



You are mixing topics, you dweeb.  The original posts in this series of back and forth posts have to do with your seemingly lameass expressions of certainty in regards to where you had expected BTC prices to go..  in the $40k to $43k territory - which was your latest dumbass expression of certainty that seems to NOT be playing out (at least not yet).

To the extent the you believe that your BTC price prediction relate to shitcoins seems to be your retroactively wanting to muddy the waters with further nonsense and an additional tangent... besides your lame ass attempts at ad hominems as well.


I don't know what is "pb."

The last time I checked, this is not the "how to make money" in any way that you can thread.  You might want to look at the title in your further deviation from the topic.


Of course, there is nothing wrong with making down predictions, but if you express them as certainties, you are likely to get backlash from some peeps, including yours truly.


Sure it was.. but it was not a given, that's for damned sure and seems to be playing out at this time... but hey we will see if, in the near future, we end up revisiting $47,004 or lower.


Fair enough.


I don't know what is "H4."


Who is proclaiming victory, you diptwat?  All I had been asserting is that the BTC price did not go to such levels that you seem to have been suggesting were inevitable.



For me, it seems stupid when a person such as you assigns too high of probability to future outcomes, and then fails and refuses to appreciate that is what you had done.  Seems to me that you cannot even accept responsibility for your own posting of nonsense.


Yes.  We have heard theories about "down before up" many many times, and some peeps end up getting screwed because they buy into such nonsense by selling too much BTC too soon or failing to adequately and meaningfully prepare for UP.. so hopefully, like I already mentioned, nobody put too much credence into your expressions of certainty regarding down before up.

I see a yóni symbolism in that bird.  It is highlighted by the arrangement of the greens.  Is that just me?

(I actually had that thought before I scrolled down to the next post...)


Marcus, your liberalism is disappointing.  I will revoke your august equation, and exile you to the Soviet paradise of New Jersey to live with Philip.  #sohomo

Some people are born with rare pathological conditions.  That is called not normal.

Although normalization of the abnormal is hipster chic nowadays, most congenital defects are not yet leveraged for the liberal agenda of turning all humans into an undifferentiated mass of flesh.  <—long Nullian essay; I don’t have time for WO now, unless someone starts to pay me.—>

Actually, humans are looking more like meat every day.  Meat owned by technocratic megalomaniacs, managed by robots, and fed a fodder made of soy with cockroaches.  Well, they are meat nonetheless.  Got any more of those tasty photos?  Those are the best feature of WO lately.  My hunger motivates me to strive for more bitcoins, so that I can afford to buy some meat.


Normally, yes.  Normally, a human also has two arms, two legs, one head, and five fingers on each hand.  There are exceptions, which we call the defects of unfortunate circus freaks.  Young children are disgusted and frightened by their freakiness, because young children are smarter than adults:  They have the uncorrupted, unrepressed instincts to distinguish healthy from sick, and yes, by the way, your baby is racist.  Also smart:  Healthy female mammals often reject deformed newborn offspring, leaving them to die; or they sometimes kill and eat them, to recover a bit of the precious nutrition that their bodies wasted gestating a factory defect unit.  Ancient Greeks, Romans, and Northern Europeans often left deformed babies in the woods to die of exposure.  Modern adult “humans” are the stupidest creatures on Earth, much dumber than the cockroaches that Bill Gates will soon feed to them—or maybe feed them to, which is what they really deserve.

Interesting “Tesla Sold Bitcoin in Q1 for Proceeds of $272M”
https://www.binance.com/en/news/top/3255628

At the same time it’s worth quoting that Tesla has made more profit from bitcoin than selling cars.

But Elon Musk himself didn’t sale anything... HODL!!!!

Super Pink Moon tonight if you're outside.  Hope to see Bitcoin sing a duet with it.

Honestly, that is what I meant, but the same argument holds if you see her as a means to upturn unsound monetary policies that can be used both by the left or by the right to hinder the free movement of capital, enforce financial embargos etc.

Ohhh..
I suppose you could think that way if you only see it as a means to increase your wealth..

Bitcoin works great for anyone who hodls some. She has perfect bilateral symmetry, and telling left from right isn't her forte.

Yep, Ford was definitely a fascist supporter.

If he was around today he'd be making all of his workers wear masks to demonstrate his dominance over them.

... it's true, hermaphrodites can have combinations of sexual organs, in varying degrees no less, but they are neither female or male .... but I was trying to keep it simple for people who are mentally-challenged to begin with