Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5944. (Read 26714341 times)

A friend just bought this one..... cool isn’t it

https://e24.no/boers-og-finans/i/aP3qQO/aker-satser-en-halv-milliard-paa-bitcoin-med-nytt-selskap

"Aker is investing half a billion in bitcoin with a new company
Aker launches the company Seetee, which will focus on cryptocurrency, and has already bought bitcoin for NOK 500 million."

that was quick delivery. thank you.

keep in mind that the "chain of blocks" that satoshi referred to is just a chain of blocks. one could also say "block chain" and even making it only one word "blockchain" is not a crime. to satoshi and to bitcoinMaxis this chain of blocks is the transaction history of the bitcoin protocol.
a transaction history is needed for the protocol to check if an UTXO is really an UnspendTXO. that is it. it is no technology, and - god forbid - not an invention at all.

just because everyone and there grandma is parroting "blockchain is the technology behind bitcoin" does not make it a technology. it is not. satoshi did not try to find a tech that made lying and cheating impossible. he tried to solve a problem in computer science - the double spend problem and by knitting together a handful of established cryptographic tools he was able to eliminate trust in a special p2p network without central authority. the bitcoin protocol is a pre-set closed system.

no btc token can be taken out of the protocol or added to it. (the ones that are not mined yet are already in the system, but not released yet. the release rate is known and also fixed from the get go.)

since it is a closed system, no "actual" input is necessary nor even possible. if you have keys to UTXO`s the bitcoin protocol let´s you choose how many you wish to send to another address. but that is it. that is no input from "outside", that is just an option to slice the UTXO. since there is no input possible, no one can cheat. everyone agrees on the same ledger, trust is eliminated, and since no owner or central authority is protecting the protocol satoshi set game theoretic rules that make it profitable to sell electric energy to the network in order to protect the network. the protectors get paid in fresh (but pre-set) UTXO sets. it is always more profitable to play with the rules of this closed system than working against it.

all this complicated cryptography, the consensus rules, the UTXO set, etc , etc created a closed system of ledger entries, that no one ever can fuck around with. great, but of what use is such a pre-set protocol that can´t do anything but sending around fractions of its native data entries back and forth?

it is utterly useless. it does not "communicate" or react with the outside world. you can´t use it for anything. only for one thing: a globaly monetary network. since money is the most important economic good and tool this very very special technology with only one use case "cant be fucked around with/manipulated or stopped" has such an impact.

lots of folks were hit by the impact - wtf - the dirty cheating lying monster that we call internet, that we all know, cannot be trusted one second, gave birth to a technology where no one can cheat???  how the fuck does this work?  and when others started explaining: look, there is this chain of blocks...  blockchain became a buzzword and then came the banks with the "blockchain-not-bitcoin" narrative.

blockchain does not magically enforce honesty in any way. it cant. as soon as you have data entries made by humans, those humans can lie or cheat and the software will never be able to tell because the real world is not the same as the digital realm. only bitcointechnology is able to connect both worlds.

after several years of this nonsense no other "blockchain" is used to solve any real world problem. blockchain is semantic wasteland as nic carter put it. it is nothing. an communication error.  in the same way that shitcoins are all scams by default since they are just digital tokens that can represent something but cannot enforce anything in a trustless manner as long as they have companies that issue them or control them. no shitcoin is decentralized. they are all pyrit. the only viable thing to represent is money. and the digital money token problem is solved by the bitcoin protocol.

blockchains/shitcoins are often said to enhance/proof/establish property rights/ownership of whatever. but they cannot. you cannot tie real world stuff into the digital realm in a trustless but enforcable manner. the bitcoin protocol can do this but only with pre-set tokens and that invention is already done and running and that is why it is worth almost a trillion USD.



 

Yeah ... But some of them are a little cheaper then the others

Until you learn gravity always win in the long run.

Whose fault is it for this resistance? All coins are cheap coins 

Good Morning Bitcoiners we have some crazy moments.

Good morning WOvians ... The next dump after a tremendous sunday. So cheap coins for you. I have sadly no fiat ...

No because the space elevator is rotating the earth at the same speed as the earth. Also the material came from earth so it's still conservation of energy and mass.

It's mass doesn't matter because it's hanging from space.
You don't need to tether it because it's hanging down from space so you just need some concrete block at the bottom that weighs more than the counter weight in space.

 

If it was that heavy, what do you propose to anchor it to?  A large tent peg?

While win10x64 will "run" on 2GB RAM, it will likely become a crawling turtle as soon as you run some minor or a major application/s.
The "superfetch" service (carrying a new name in win10 i don't remember right now) will further take up RAM and slow it down even more over time.
Future system updates/upgrades not included.

I used to run 4GB notebooks, but using win10 i had to set my boundary up to 8GB (at least!) for smooth operation.
However, you may find a virtualization software that is easier on the RAM and use an older but still maintained kernel/distro for lower hardware requirements.
Personally, i would well consider some drawbacks on a computer, but RAM figures would always be high.

This doesn't help. I'm not feeling safe again.   Thanks for trying though. 

Blockchain that should be easy one...

Blockchain is fairly new concept too but older than cryptocurrency for sure. Even the WikiPedia page of the Blockchain it self was created on 9 October 2014‎ . But as far as Bitcoin and Satoshi Nakamoto is concerned he never mentioned his transaction ledger as blockchain (not in his whitepaper at least). So this claim of the Wikipedia page isn't so true "The blockchain was invented by a person (or group of people) using the name Satoshi Nakamoto in 2008". Yes he did presented the idea of "blocks" and "chains" but he never called it a "Blockchain". He mentioned it as "chain of digital signatures", "proof-of-work chain" and he did mention it one time as "chain of blocks" but that's too in totally different context.

Oxford University added the word "Blockchain" to it's dictionary in 2015 as a noun and defined it as "A digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly."

But since I want to keep my discussion around Bitcoin so here you go, the domain name https://www.blockchain.com  was created on: 2011-03-08 and it was created by a founding member of Coinbase, no not Satoshi Nakamoto but someone named "Ben Reeves".

What google trends says about "blockchian"? as expected almost zero results before the creation of Wikipedia page and that was in 2014.



More strange google have only 179 results for the word "blockchain".



Enough about the word blockchain lets get back to the concept, yes Satoshi Nakamoto did invent this concept and he did mention the word "block chain" in his posts here on bitciontalk too


In such discussions many seniors have been using the term "blockchain" as one word, that includes "Hal Finney" and "theymos" too.. to my search i found this user "MoonShadow" who used this term in the way we know



Conclusion:
- Satoshi Nakamoto is indeed the inventor of the concept "blockchain".
- Originally it was "block chain" later became one word as a noun we know today "blockchain".
- Satoshi Nakamoto invented the concept "block chain" in 31 October 2008
- Birth of the word "blockchain" happened on this forum bitcointalk around 2010

Of course not.

"They" be working on all of these kinds of details in order that NO THINGIE be screwed up, intentional o no.

Don't worry ur lil head about these kinds of matters, you be in good hands.. very smart peeps working on this.. (think about how smart Vitalik is, for example... these guys are even MOAR smarter).

 


At least for now (if there is good reason to do so, I might change my mind later, perhaps?), I would like to demonize such word (cryptocurrency, crypto) when vaguely referring to bitcoin or not really clarifying what the fuck yee be talking about.


Can't really disagree with any of this.


Gosh.. thanks for mentioning me, but its to me that I don't really like to assert with such confidence in regards to what I believe will happen in terms of quantity of BTC price movement or in terms of when it will happen.. so maybe this is a kind of JJG dig, perhaps to get so specific in terms of what you believe is going to happen, and when, even though I cannot really disagree with the overall sentiment or the fact that there seem to be decently good odds for what you are suggesting that is going to happen, to actually end up happening... (if that makes any senses?)


Talking about percentages or overall adoption and network effects?  In terms of percentages, its going to be difficult to match some of those earlier years, including more than 100x in 2013 if you consider both bubbles.. which gosh, 100x from even $4k-ish would put BTC at $400k.. and I surely I am not suggesting that level to be impossible, I am likely just quibbling with the idea of counting your eggs before they are hatched, even if a lot of the perfect storm factors do seem to be aligning to cause even double or triple $400k to be within the grasp of this cycle - even though maybe a bit of a stretch for this actual calendar year.. but who am I to say?

For anyone going through chart with random line withdrawal here you go...

Seem to be on track with not much surprise.


If we stay in the lower channels looks like mid-March we will approach the previous ATH.  However, I doubt honey badger will wait that long.  It looks hungry at the moment.

https://twitter.com/pierre_rochard/status/1368597782718713861



#HODL_for_glory

a nothingburger so far..it's still below the Oct 2018 level.

Just another kind of mining news



“Brent crude oil price.
Six months ago: $42
Three months ago: $49
One month ago: $60
Now: $71.1”

https://twitter.com/spectatorindex/status/1368747561150914560?s=21

It can definitely be done but it depends on the notebook how well it will perform. Throwing a bit more memory is always a good idea if possible.