Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 563. (Read 26467459 times)
April 02, 2024, 01:59:58 PM
They’re saying the big gains are over now that Wall Street is involved. Clearly Blackrock is telling you it’s time to sell them all your precious coins and move on to something else with your life. We should probably believe them and all sell them our coins now. It’s over. Time to pack up and go home. Been a fun ride. Wait, this post might be a day late.
April 02, 2024, 01:01:25 PM
April 02, 2024, 12:38:24 PM
70k is the biggest resistance to be defeated...
Not been around long time I guess
Perhaps it is a hybrid of the previous ATH with psychological value... but it has been tested a few times recently and so far the price has suffered rejection in this region.
But... we will pass... just a matter of time
April 02, 2024, 12:37:31 PM
Let's imagine that Satoshi decided that the max supply would be 42 million BTC - how much do you think that would affect the price today? I found a good post where you can read the messages between Satoshi and Mike Hearn, and there we can see how good Satoshi was in predicting the future.
FYI Here is Satoshi's own explanation to Mike Hearn (via email) back in April 2009 about why the 21M coin cap.
Doesn't ask your question exactly, but I enjoyed the insight into what Satoshi was thinking at the time:
from Mike Hearn:
Satoshi response:
Later Mike asked Satoshi a follow-on question Dec 27, 2010:
Satoshi response and Mike's follow-on question:
Satoshi's final response on the topic on Jan 10, 2011:
Pure BTC genius
Doesn't ask your question exactly, but I enjoyed the insight into what Satoshi was thinking at the time:
from Mike Hearn:
Quote
How did you decide on the inflation schedule for v1? Where did 24 million coins come from? What denominations are these coins? You mention a way to combine and split value but I'm not clear on how this works. For instance are bitcoins always denominated by an integer or can you have fractional bitcoins?
Satoshi response:
Quote
My choice for the number of coins and distribution schedule was an educated guess. It was a difficult choice, because once the network is going it's locked in and we're stuck with it. I wanted to pick something that would make prices similar to existing currencies, but without knowing the future, that's very hard. I ended up picking something in the middle. If Bitcoin remains a small niche, it'll be worth less per unit than existing currencies. If you imagine it being used for some fraction of world commerce, then there's only going to be 21 million coins for the whole world, so it would be worth much more per unit. Values are 64-bit integers with 8 decimal places, so 1 coin is represented internally as 100000000. There's plenty of granularity if typical prices become small. For example, if 0.001 is worth 1 Euro, then it might be easier to change where the decimal point is displayed, so if you had 1 Bitcoin it's now displayed as 1000, and 0.001 is displayed as 1.
Later Mike asked Satoshi a follow-on question Dec 27, 2010:
Quote
Specifically, BitCoin has a variety of magic numbers and neither the code nor the paper explain where they came from. For example, the fact that inflation ceases when 21 million coins have been issued. This number must have been arrived at somehow, but I can't see how.
Satoshi response and Mike's follow-on question:
Quote
>> Educated guess, and the maths work out to round numbers. I wanted something that would be not too low if it was very popular and not too high if it wasn't.
It'd be interesting to see the working for this. In some sense the number of coins is arbitrary as the nanocoin representation means the issuance is so huge it's practically infinite.
It'd be interesting to see the working for this. In some sense the number of coins is arbitrary as the nanocoin representation means the issuance is so huge it's practically infinite.
Satoshi's final response on the topic on Jan 10, 2011:
Quote
It works out to an even 10 minutes per block:
21000000 / (50 BTC * 24hrs * 365days * 4years * 2) = 5.99 blocks/hour
I fudged it to 364.58333 days/year. The halving of 50 BTC to 25 BTC is after 210000 blocks or around 3.9954 years, which is approximate anyway based on the retargeting mechanism's best effort.
I thought about 100 BTC and 42 million, but 42 million seemed high.
I wanted typical amounts to be in a familiar range. If you're tossing around 100000 units, it doesn't feel scarce. The brain is better able to work with numbers from 0.01 to 1000.
If it gets really big, the decimal can move two places and cents become the new coins.
21000000 / (50 BTC * 24hrs * 365days * 4years * 2) = 5.99 blocks/hour
I fudged it to 364.58333 days/year. The halving of 50 BTC to 25 BTC is after 210000 blocks or around 3.9954 years, which is approximate anyway based on the retargeting mechanism's best effort.
I thought about 100 BTC and 42 million, but 42 million seemed high.
I wanted typical amounts to be in a familiar range. If you're tossing around 100000 units, it doesn't feel scarce. The brain is better able to work with numbers from 0.01 to 1000.
If it gets really big, the decimal can move two places and cents become the new coins.
Pure BTC genius
April 02, 2024, 12:13:15 PM
70k is the biggest resistance to be defeated...
Not been around long time I guess
April 02, 2024, 12:01:15 PM
April 02, 2024, 11:46:23 AM
70k is the biggest resistance to be defeated...
April 02, 2024, 11:22:42 AM
got some discount corn today 0.01 btc under 65k
You are lucky to have cash at this moment when halving is just couple of weeks away.
April 02, 2024, 11:01:16 AM
April 02, 2024, 10:42:27 AM
BTW, who TF is selling? 2 weeks pre-halving?
Overleveraged longs?
Same old same old.
Suckers trying to get rich quick learning how quickly they can get poor.
April 02, 2024, 10:33:23 AM
BTW, who TF is selling? 2 weeks pre-halving?
Overleveraged longs?
April 02, 2024, 10:23:34 AM
fuck the wiggles...its just noise...remember the bet
Wouldn't mind wiggling with the red head after I push the guys out of the room.
April 02, 2024, 10:21:55 AM
fuck the wiggles...its just noise...remember the bet
April 02, 2024, 10:19:24 AM
Wow. I'm glad I didn't wait yesterday.
I knew I had to buy a bunch of dollars this month to appease the taxman and decided I'd better not wait too long in case we had an early halving dip.
I cursed at having slept in, having missed getting over $70k. I immediately called my main OTC dude and got a busy signal. After over half an hour of busy signals I emailed him to phone me. By the time he called a few minutes later the price had dipped to just under $69.5k. I jumped on it to the tune of one whole coin. By late afternoon the dollars were in my bank account and on their way to the taxman.
If I'd waited another day I'd have gotten $5k less. Five grand (over $7kCAD) buys a lot of frijoles. Hopefully this little dip won't last long and maybe if I'd waited a couple of weeks for an ATH I could have got more, but I don't care. The peace of mind of having the tax hounds off my trail is worth it.
Thank you Bitcoin, thank you Satoshi.
I knew I had to buy a bunch of dollars this month to appease the taxman and decided I'd better not wait too long in case we had an early halving dip.
I cursed at having slept in, having missed getting over $70k. I immediately called my main OTC dude and got a busy signal. After over half an hour of busy signals I emailed him to phone me. By the time he called a few minutes later the price had dipped to just under $69.5k. I jumped on it to the tune of one whole coin. By late afternoon the dollars were in my bank account and on their way to the taxman.
If I'd waited another day I'd have gotten $5k less. Five grand (over $7kCAD) buys a lot of frijoles. Hopefully this little dip won't last long and maybe if I'd waited a couple of weeks for an ATH I could have got more, but I don't care. The peace of mind of having the tax hounds off my trail is worth it.
Thank you Bitcoin, thank you Satoshi.
April 02, 2024, 10:18:11 AM
3 Body Problem is a must watch.
I agree; it starts slow, but improves as it goes.
For those who did not read the book, some plot directions might be a little "weird".
I don't know the book, but books are usually (almost) error-free, while there are so many errors in filmed versions. I don't mean not following the story tightly, but for example an actor carrying a watch in an ancient movie (just for example). Those do stick out a lot for me, most of the times i just notice them, but sometimes i find them really annoying. Overall, the error-rate was ok-ish when following "3 Body Problem".
However, the series was really good, i enjoyed watching it a lot, just finished it two days ago. Had to watch the scence where the ship was fucked over three times in a row
I also do that. I watch for little things that are odd, or rewind and compare different scenes for things that appear/disappear without reason.
"3 Body Problem" must be good, seeing that many WOers approve. Saw it being showcased on Netflix, but did not click Play. The only issue with me is that it is a series. I prefer full-length movies. A good series gets me hooked and I end up binge-watching the entire thing, thus affective my RL schedule. So I tend to postpone them for "later, when the time is right," which can sometimes mean "never." May make an exception for this one.
Thx for the recommendation, WOers!
BTW, who TF is selling? 2 weeks pre-halving? Are they insane?
I've been meaning to sub to Netflix again. Maybe soon.
Completely O/T
I watched Die Hard 1 again a few days ago.
Man, did they know how to make movies in those days.
A lot of the acting in fact seems like a theatrical play to me. I think that is why it works so well.
The bit where Alan Rickman finds out about McClane and his wife etc.
So, so bloody good.
April 02, 2024, 10:01:14 AM
April 02, 2024, 10:00:21 AM
God dammit 😫
It sucks to be as poor as 4 weeks ago 
Indeed very
Then just listened to the PlanB video
The Dude boosted once again
When I search for PlanB video, all that comes up is Megan Thee Stallion video links - not really doing it for me.
Edit: Found it - https://www.youtube.com/watch?v=LUiPYyDlI8w
Also, Brave just decided to close itself whenever I tried to open a YouTube video - or whenever one was embedded on a page. Took me a while to figure out the problem... I had to disable the native "Trackers & ads blocking" shields. Thankfully uBlock still works fine.
For Youtube I can really recommend:
Desktop:
https://freetubeapp.io/
Android:
https://newpipe.net/
Iphone:
Don't know. Someone has a recommendation ?
With these apps you can also download video, or audio-only, in any quality that YT provides.
With newpipe you can switch off the smartphone screen while playing music (unlike most browsers or the youtube-app)
For iPhone you can try the Opera browser app. It allows you to use Youtube videos minimised so you can just listen etc. It even used to be able to skip ads, but I don't think it does that anymore.
Saving myself the hassle with ads on iPads and iPhones when using YouTube, I just subbed to YouTube Premium a couple of months ago. With the amount of stuff I consume I think it's worth it.
I have YouTube on 10-15 hours per day.
April 02, 2024, 09:58:16 AM
got some discount corn today 0.01 btc under 65k
April 02, 2024, 09:57:42 AM
"Hello, this is Grayscale, Walter speaking."
-"Hi yeah, Hi Walter, This is Fred McDougall. I would like to add to my ETF holdings please now that the Bitcoin price has dropped."
-"Hello Mr. McDougall. I hope you are well.
You said you wanted to sell your entire ETF holding, no problem. Done. expect the Fiat money in your bank account in two working days.
Thank you for using Grayscale. We have closed your account. Anything else I can help you with sir?"
-"Wait, wait I want to add to my ETF, not sell it, why would you...."
-"Thank you for your custom, goodbye sir."
*Click*
-"Hi yeah, Hi Walter, This is Fred McDougall. I would like to add to my ETF holdings please now that the Bitcoin price has dropped."
-"Hello Mr. McDougall. I hope you are well.
You said you wanted to sell your entire ETF holding, no problem. Done. expect the Fiat money in your bank account in two working days.
Thank you for using Grayscale. We have closed your account. Anything else I can help you with sir?"
-"Wait, wait I want to add to my ETF, not sell it, why would you...."
-"Thank you for your custom, goodbye sir."
*Click*
April 02, 2024, 09:46:12 AM
God dammit 😫
It sucks to be as poor as 4 weeks ago Indeed very
Then just listened to the PlanB video
The Dude boosted once again
When I search for PlanB video, all that comes up is Megan Thee Stallion video links - not really doing it for me.
Edit: Found it - https://www.youtube.com/watch?v=LUiPYyDlI8w
Also, Brave just decided to close itself whenever I tried to open a YouTube video - or whenever one was embedded on a page. Took me a while to figure out the problem... I had to disable the native "Trackers & ads blocking" shields. Thankfully uBlock still works fine.
For Youtube I can really recommend:
Desktop:
https://freetubeapp.io/
Android:
https://newpipe.net/
Iphone:
Don't know. Someone has a recommendation ?
With these apps you can also download video, or audio-only, in any quality that YT provides.
With newpipe you can switch off the smartphone screen while playing music (unlike most browsers or the youtube-app)
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