Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6459. (Read 26709354 times)
December 30, 2020, 07:06:28 PM
Not even a zero in the hash. Well, one. That node's got problems for sure.
December 30, 2020, 06:53:23 PM
Hah ! Just caught this in my node logs while glancing over.
Haven't seen this one before.
2020-12-30T23:47:54Z ERROR: AcceptBlockHeader: Consensus::CheckBlockHeader: 0fd7ab36246daf61802e10a0316cc2b0f17a1d6404bfdd53878ba34e158b4680, high-hash, proof of work failed
2020-12-30T23:47:54Z Disconnecting and discouraging peer 39.98.236.28:34696!
Haven't seen this one before.
2020-12-30T23:47:54Z ERROR: AcceptBlockHeader: Consensus::CheckBlockHeader: 0fd7ab36246daf61802e10a0316cc2b0f17a1d6404bfdd53878ba34e158b4680, high-hash, proof of work failed
2020-12-30T23:47:54Z Disconnecting and discouraging peer 39.98.236.28:34696!
December 30, 2020, 06:43:43 PM
Dribbling out my BTC may not be a bad idea (TL;DR, price goes up): https://cointelegraph.com/news/bitcoin-liquidity-crisis-btc-is-becoming-harder-to-buy-on-exchanges-data-shows
That chart is quite remarkable if accurate. Even during the last two bull runs, the liquid supply increased. This looks like the first major dip in Bitcoin's history?
(edit)
Live version of chart: https://studio.glassnode.com/metrics?a=BTC&category=&m=supply.LiquidIlliquidSum
Their methodology: https://insights.glassnode.com/bitcoin-liquid-supply/
December 30, 2020, 06:41:49 PM
Which leads to the logically consequent question - is there anything in the protocol, or some new software layer in the works - that can provide proof of non-hypothecation?
I'm sure that given the ongoing custom - habits are hard to break - most of the traditional finance world won't take "move inflation the other way - to the right of the decimal dot" so easily. They'd rather rehypothecate, as they are doing for gold and for derivatives based on gold (basically paper money). This is as close to double spending as you can get with btc - through a layer of obfuscating paper. Much too close for my taste.
Once TPTB have their hands on bitcoin, they will come up with new and ingenious ways to keep doing old, disingenuous deeds. One way to avoid that would be a simple way to make sure each satoshi is only hypothecated once, if at all.
Example: I buy a bitcoin ETF, "bakt" by the RealThing. Good. Now I want to know the public address of the btc backing my ETF, and be sure it only backs my shares, not someone else's too. And a loan. And some enterprise capital in some other firm. If such information is easy to find automatically, we can be relatively sure that there will be stern laws against re-hypothecation, and they will be inflexibly enforced.
I'm sure that given the ongoing custom - habits are hard to break - most of the traditional finance world won't take "move inflation the other way - to the right of the decimal dot" so easily. They'd rather rehypothecate, as they are doing for gold and for derivatives based on gold (basically paper money). This is as close to double spending as you can get with btc - through a layer of obfuscating paper. Much too close for my taste.
Once TPTB have their hands on bitcoin, they will come up with new and ingenious ways to keep doing old, disingenuous deeds. One way to avoid that would be a simple way to make sure each satoshi is only hypothecated once, if at all.
Example: I buy a bitcoin ETF, "bakt" by the RealThing. Good. Now I want to know the public address of the btc backing my ETF, and be sure it only backs my shares, not someone else's too. And a loan. And some enterprise capital in some other firm. If such information is easy to find automatically, we can be relatively sure that there will be stern laws against re-hypothecation, and they will be inflexibly enforced.
Sadly though, even if Bitcoin is the perfect form of money, it lives in an imperfect world with imperfect people.
When Bitcoin ETFs become a thing, the Wall Street banksters will both a) re-hypothecate Bitcoin shares, and b) make sure no transparent audit trail exists for those phantom shares.
There's little that we can do about it.
December 30, 2020, 06:39:41 PM
Apparently, golfers are also prone to boating accidents...
This guy could even be one clever WO-er!
Well he does have some corn beside him.
December 30, 2020, 06:31:48 PM
@Bitcoin_ator
BTC is like the GTA train...
Nothing can stop it!🚆
https://twitter.com/bitcoin_ator/status/1344408492162035713?s=21
We coming for you Apple.
@BITCOIN_USD_OG
100% of 33.34 million BTC addresses are in the green! 🚀
https://twitter.com/btc_usd_og/status/1344419360039960577?s=21
https://twitter.com/tyler/status/1344422062371303427?s=21
BTC is like the GTA train...
Nothing can stop it!🚆
https://twitter.com/bitcoin_ator/status/1344408492162035713?s=21
We coming for you Apple.
@BITCOIN_USD_OG
100% of 33.34 million BTC addresses are in the green! 🚀
https://twitter.com/btc_usd_og/status/1344419360039960577?s=21
https://twitter.com/tyler/status/1344422062371303427?s=21
December 30, 2020, 06:30:12 PM
Corn is bigger than Berkshire Hathaway.
Poor Warren Buffett.
I'd have to think before trading a bitcoin for a share of BRK-A. Might blow past it anytime now....Poor Warren Buffett.
(Jesus this is fun)
December 30, 2020, 06:29:06 PM
... the schrödinger cat of money. ...
Interesting but I think it won’t satisfy the Keyenesians. They will point out that the fact that one Bitcoin (or a fraction) increases in value is the dreaded deflation, killing business (and newborn kitties). This is the point one needs to counter.
I agree they won't be satisfied, that's why I jumped straight to rehypothecation
December 30, 2020, 06:28:09 PM
is there anything in the protocol, or some new software layer in the works - that can provide proof of non-hypothecation?
Example: I buy a bitcoin ETF, "bakt" by the RealThing. Good. Now I want to know the public address of the btc backing my ETF, and be sure it only backs my shares, not someone else's too.
Example: I buy a bitcoin ETF, "bakt" by the RealThing. Good. Now I want to know the public address of the btc backing my ETF, and be sure it only backs my shares, not someone else's too.
The only thing I can think right now, off the top of my head, is moving the coins to a multisig where the original creditor (the first ETF buyer in my example) can veto any movement; for example, a 2-of-2.
December 30, 2020, 06:23:34 PM
... the schrödinger cat of money. ...
Interesting but I think it won’t satisfy the Keyenesians. They will point out that the fact that one Bitcoin (or a fraction) increases in value is the dreaded deflation, killing business (and newborn kitties). This is the point one needs to counter.
December 30, 2020, 06:21:11 PM
Corn is bigger than Berkshire Hathaway.
Poor Warren Buffett.
I'd have to think before trading a bitcoin for a share of BRK-A. Might blow past it anytime now....Poor Warren Buffett.
(Jesus this is fun)
December 30, 2020, 06:15:10 PM
keynesians argue that the inelasticity of the gold supply was crippling economic growth during gold standard times in the 19th century. that is the origin of the narrative of deflation being negative for the economy. and there is definitely some truth to this.
the trick is that in fiat the elasticity is displayed in front of the dot, more money units are needed, leading to inflation. with bitcoin the elasticity is moving to the right side of the dot, making whole bitcoin more valuable without inflation.
the trick is that in fiat the elasticity is displayed in front of the dot, more money units are needed, leading to inflation. with bitcoin the elasticity is moving to the right side of the dot, making whole bitcoin more valuable without inflation.
Which leads to the logically consequent question - is there anything in the protocol, or some new software layer in the works - that can provide proof of non-hypothecation?
I'm sure that given the ongoing custom - habits are hard to break - most of the traditional finance world won't take "move inflation the other way - to the right of the decimal dot" so easily. They'd rather rehypothecate, as they are doing for gold and for derivatives based on gold (basically paper money). This is as close to double spending as you can get with btc - through a layer of obfuscating paper. Much too close for my taste.
Once TPTB have their hands on bitcoin, they will come up with new and ingenious ways to keep doing old, disingenuous deeds. One way to avoid that would be a simple way to make sure each satoshi is only hypothecated once, if at all.
Example: I buy a bitcoin ETF, "bakt" by the RealThing. Good. Now I want to know the public address of the btc backing my ETF, and be sure it only backs my shares, not someone else's too. And a loan. And some enterprise capital in some other firm. If such information is easy to find automatically, we can be relatively sure that there will be stern laws against re-hypothecation, and they will be inflexibly enforced.
December 30, 2020, 06:14:11 PM
keynesians argue that the inelasticity of the gold supply was crippling economic growth during gold standard times in the 19th century. that is the origin of the narrative of deflation being negative for the economy. and there is definitely some truth to this.
mainstream economists see the hard cap of bitcoin and think this is even worse than gold, since bitcoin is even more scarce than gold. what they dont get is that since bitcoin is software it has properties that physical objects like gold can not have. bitcoin is scarce and capped at 21 mio units, but it can be divided into 100mio satoshis per btc (and even further if necessary). when economic growth happens, bitcoin supply can act elastic simply by ongoing division. the trick is that in fiat the elasticity is displayed in front of the dot, more money units are needed, leading to inflation. with bitcoin the elasticity is moving to the right side of the dot, making whole bitcoin more valuable without inflation.
bitcoin is not deflationary because it is digitally divisible ad infinitum. it can swallow the entire value of any economy by getting more valuable. with gold you end up with impossible to measure gold dust and that is why it hinders economic growth when used as base monetary unit.
bitcoin fixes this. it is scarce and abundant at the same time. the schrödinger cat of money.
mainstream economists see the hard cap of bitcoin and think this is even worse than gold, since bitcoin is even more scarce than gold. what they dont get is that since bitcoin is software it has properties that physical objects like gold can not have. bitcoin is scarce and capped at 21 mio units, but it can be divided into 100mio satoshis per btc (and even further if necessary). when economic growth happens, bitcoin supply can act elastic simply by ongoing division. the trick is that in fiat the elasticity is displayed in front of the dot, more money units are needed, leading to inflation. with bitcoin the elasticity is moving to the right side of the dot, making whole bitcoin more valuable without inflation.
bitcoin is not deflationary because it is digitally divisible ad infinitum. it can swallow the entire value of any economy by getting more valuable. with gold you end up with impossible to measure gold dust and that is why it hinders economic growth when used as base monetary unit.
bitcoin fixes this. it is scarce and abundant at the same time. the schrödinger cat of money.
Well put nice work here.
December 30, 2020, 06:10:05 PM
the schrödinger cat of money.
this is beautiful!
the umlaut is also candy
have a good night!
#seeyouat30k+
December 30, 2020, 06:09:15 PM
https://cointelegraph.com/news/bitcoin-liquidity-crisis-btc-is-becoming-harder-to-buy-on-exchanges-data-shows?fbclid=IwAR2DinLSaG5Ygt8MDUj9k6pmAY7YhrchqVa0Lj-hFm8Hpaw8EpTvz2DfEMs
https://decrypt.co/52889/only-22-of-bitcoin-is-liquid-glassnode?&utm_medium=referral&utm_campaign=feed&utm_source=trading-view
https://decrypt.co/52889/only-22-of-bitcoin-is-liquid-glassnode?&utm_medium=referral&utm_campaign=feed&utm_source=trading-view
December 30, 2020, 05:52:10 PM
keynesians argue that the inelasticity of the gold supply was crippling economic growth during gold standard times in the 19th century. that is the origin of the narrative of deflation being negative for the economy. and there is definitely some truth to this.
mainstream economists see the hard cap of bitcoin and think this is even worse than gold, since bitcoin is even more scarce than gold. what they dont get is that since bitcoin is software it has properties that physical objects like gold can not have. bitcoin is scarce and capped at 21 mio units, but it can be divided into 100mio satoshis per btc (and even further if necessary). when economic growth happens, bitcoin supply can act elastic simply by ongoing division. the trick is that in fiat the elasticity is displayed in front of the dot, more money units are needed, leading to inflation. with bitcoin the elasticity is moving to the right side of the dot, making whole bitcoin more valuable without inflation.
bitcoin is not deflationary because it is digitally divisible ad infinitum. it can swallow the entire value of any economy by getting more valuable. with gold you end up with impossible to measure gold dust and that is why it hinders economic growth when used as base monetary unit.
bitcoin fixes this. it is scarce and abundant at the same time. the schrödinger cat of money.
mainstream economists see the hard cap of bitcoin and think this is even worse than gold, since bitcoin is even more scarce than gold. what they dont get is that since bitcoin is software it has properties that physical objects like gold can not have. bitcoin is scarce and capped at 21 mio units, but it can be divided into 100mio satoshis per btc (and even further if necessary). when economic growth happens, bitcoin supply can act elastic simply by ongoing division. the trick is that in fiat the elasticity is displayed in front of the dot, more money units are needed, leading to inflation. with bitcoin the elasticity is moving to the right side of the dot, making whole bitcoin more valuable without inflation.
bitcoin is not deflationary because it is digitally divisible ad infinitum. it can swallow the entire value of any economy by getting more valuable. with gold you end up with impossible to measure gold dust and that is why it hinders economic growth when used as base monetary unit.
bitcoin fixes this. it is scarce and abundant at the same time. the schrödinger cat of money.
December 30, 2020, 05:26:54 PM
Apparently, golfers are also prone to boating accidents...
This guy could even be one clever WO-er!
December 30, 2020, 05:12:15 PM
A lot of wisdom on a single image.
It’s matter of time preferences: where do you stand?
Ultra-simplified #Bitcoin educational content, #4
https://twitter.com/Croesus_BTC/status/1343995433433980928?s=20
It’s matter of time preferences: where do you stand?
Quote
Ultra-simplified #Bitcoin educational content, #4
https://twitter.com/Croesus_BTC/status/1343995433433980928?s=20
December 30, 2020, 05:06:35 PM
road to 100k
This... thing... is gayer than Rick and I put together.
thanks, it took me a serious amount of work to look that gay.
Something is missing, though...
December 30, 2020, 05:04:28 PM
Apparently, golfers are also prone to boating accidents...
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