Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5725. (Read 26611006 times)

Sold all my corn, to buy gas for my boat.

Then i suffered an accident and the boat sunk.

I'm selling a photo (low res) of the wreckage as an NFT. I'll hopefully get my corn back.


Happy (and bullish) april for you all!

Lots of people expect a dump to be honest boys. We’ll supposedly then recover to current price levels by Tuesday.

Any expectations?

Easter long week-end comes. I wonder what's going to happen with the price when a big number of professional traders will be staying offline.

Ranging between $58,000 & $59,600

You should put at least 80% of your USD, Euro or whatever sh!~tFiat u got into Doge.

 If that's true I hope you were wise enough to spend them all on ƒNFTs.

The natives of Yap had the NFT concept down hundreds of years ago: They are the ones who use large stone wheels as money. After a bit of this, they just started saying "the wheel in John's house is owned by Bob." Thus Bob had ownership even though he didn't have to move the physical token to his place.

In one case a stone wheel being transported between islands sank into the ocean. It did not matter, people just referred to that store of value as "john's stone, out there in the ocean somewhere".

The current method it's being done now is kind of a joke but that's the basic idea.

 Hang on now.  Since Lauda left, can we be sure there is a woman on this forum?

Sure, just like with air travel, paper tickets became obsolete years and years ago.

Not every problem needs decentralization.



P.S. And yes, we saw thousands of PayPal-like startups back then...

Sold all of my bitcoins today, I am out.
I hate you all.

I still have 100 BTC left, where can I redeem thymos?

On second thought, fuck it.  I am about ready to repudiate the whole concept of Bitcoin maximalism, if what it gets me is wasting time explaining things to people who don’t want to understand.  People who would have rejected Bitcoin years ago—and probably did...  If I have no patience remaining for people who think that “blockchain” is magic pixie dust they can just sprinkle around as a buzzword, why should I write long, patient explanations for people who don’t think through the problems that blockchains do solve?


Bitcoin using ‘blockchain’ and ‘crypto’ is a big red flag for me...

Simple electronic bank payment would solve their money transfer ‘problem’.  It’s legally recognised and well regulated.

Assuming that ‘problem’ even exists, which I doubt, because there would be a thousand startups in that space by now.

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P.S., I have said this before:  If you want to point to all the idiotic uses of NFTs, perhaps first you should dig through the forum archives and examine all the idiotic uses of Bitcoin—especially in its early days.  You will weep.

I sold my fNFT for 1 BTC but I got no BTC

So it's a scam, just like any NFT?

For the NFT use case of which you speak, I think of it as a digital autograph.  In the physical world, a famous author may sign 100 copies of a book that has a print run of 10,000,000; and those special copies may command a hefty price.  A movie star may autograph a photo of himself.  And so forth...  N.b. that in all such cases, the scarcity is more or less artificial insofar as the marginal cost of autographing an inexpensive item is negligible.

Everybody understands how that works.  Some people buy such things, some don’t—but everybody understands the concept.

The problem with these April Fools’ fNFTs is that they are a SCAM.  Many of these fNFTs are not originally issued or authorized by the party whose name is associated with them.  For example, there is at this time a Satoshi fNFT; and there are currently two different Last of the V8s fNFTs for sale, even though V8s has been inactive since November.  Obviously, you are not obtaining any sort of “autograph” from those persons...  Real NFT sites have similar problems with fraudulent offerings.  Fortunately, the scam here only reaps fake BTC which, I presume, will disappear altogether at midnight UTC.

More generally, NFTs have many other use cases.  For example, I think using NFTs to track real estate titles would be a great improvement over the current means of doing such things.  If it were so, then when you bought a house, you would receive a blockchain transaction representing legal ownership of your house—just as today you receive a paper deed.  The title could be passed on to another party in another tx, with a digital signature from your private key.  Not your keys, not your house!  For Bitcoiners, the concept should be easy to understand.

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Not so.  Simple digital signatures do not solve the problem of atomically, transactionally passing a value from one party to another, with a transaction ordering that prevents double-spends (double-transfers).  Satoshi invented the blockchain as we know it for the purpose of solving these problems; he applied the solution to currency, but it can also be otherwise applied.

If you have a simple digital signature on a deed passing ownership of a house, how do you prove:

• The time at which the deed was signed?  (To at least the accuracy and precision represented by a blockheight.)
• That person making the signature did not first sign another deed transferring the house to another person?

Furthermore:  How do you create an immutable record of the deed and its conveyance from one party to another—with an audit trail that can neither be forged, nor be altered after the fact?

Blockchains also provide a framework for helping to solve one of the biggest problems with digital signature systems such as PGP:  Associating an identity with a key.  (Obviously, blockchains do not magically solve this problem all by themselves...)

In short, the blockchain performs for a cryptographic digital signature many of the same functions for which pen-and-ink signatures require a system involving a notary public, a government recording clerk, etc.

Note:  Legal terminology of “electronic signatures” is mostly insecure nonsense.  Many jurisdictions accept as an “electronic signature” a form submission that has no cryptographic authentication whatsoever.  Above, I refer to digital signatures in the cryptographic sense—which may or may not have any special status, depending on jurisdiction.  Even a cryptographically secure digital signature does not in itself solve the problems that I have briefly sketched in the foregoing (or others I have not mentioned).

Obviously, laws and legal systems will need some time to catch up to the point where blockchains can be used to keep chains of title for real estate, etc.

Are NFTs even seen legally recognised by the government as legitimate contracts of ownership? Do I get the copyrights too? It seems to me that NFTs will only ever be collectibles without intrinsic value as soon as the first NFT case loses in court.


exactly. NFTS are just the new scam ICOs.


Edit: I am now selling my own, very very valuable fNFT. Moon guaranteed.

NFT using 'blockchain' and 'crypto tokens' is a big red flag for me...

Simple electronic signature would solve their authentication 'problem'. It's legally recognised and well regulated.

Assuming that 'problem' even exists, which I doubt, because there would be thousand startups in that space by now.

It's a digital certificate that says, "I own thing X". You can then sell/transfer that digital certificate to someone else.

This high 50s area is getting tedious. And no Bitcoin, I don't want you to go down to break the tedium. Pump! damn it!

We should be mid 60s right now.

This is actually a great chance to learn. I suppose its more geared toward the economics of the market, but its not an entirely inaccurate depiction of how it works.