since bitcoin is a bearer asset it is possible to possess bitcoin. of course we all know that there are no physical bitcoin you send around the interwebs or keep them in your wallet - what you can physically own in reality are the private keys that allow you to spent your UTXO´s. be aware that the UTXO´s never leave the bitcoin network. it is a closed system. the bitcoin blockchain is a closed system: it is permissionless and p2p, but the info on the ledger never leaves the ledger.
1) bitcoin (the unit) can never leave the blockchain, where it is embedded
2) the only thing a bitcoin is pegged to is energy due to the mining process (impossible to directly peg a bitcoin (or any other blockchain token) to a physical object.) there are no utility coins possible due to this.
3) since it is a closed system that can only be pegged to energy there are only very limited use cases: the only thing a token in a closed system can be used for is if it represents something. imagine some weird machine that juggles table tennis balls. the balls can not leave the machine. what utility can the balls bring to users? they can represent something, that is it. what could they represent? the only abstract thing that would make sense to organize in an immutable ledger would be money. since moneys only use case is to represent value, this is the only use case for a token in a closed system.
blockchains can only be used as money. since bitcoin has won the race long ago and by far, it is utterly useless to create, invest in, waste time on 7500 additional money protocols.
money pegged to energy is the only way to go. unpegged money will get printed into inflation. gold pegged money will always first lose its peg and then will get printed into inflation. our fiat money system derived from a gold pegged system, the dollar is a layer 2 scaling solution for gold.
the 2020ies will bring the transition. don't be scared. bitcoin is great and will save us.
edit: typos
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6921. (Read 26720873 times)
November 03, 2020, 12:08:56 AM
November 02, 2020, 11:44:33 PM
these are the bridges bitcoin sceptics can use to move over to our side. to the side the is winning. and yes, hope needs to be part of the transition.
November 02, 2020, 11:20:35 PM
Hashrate estimated to drop by 16%.
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
No No No NO
It is rainy ending prices for power were
2-3 cents
now
4-6 cents
Thus miners turn gear off bigly.
If we have continued down turns of 5% the next two jumps then some other issue is happening.
You need to continue your hashrate prediction thread!!!
Thank you for the explaination
Yeah not giving away btc any more but still running the thread.
Next two jumps and price flow are very important.
Hoping bull kicks ass but worried.
November 02, 2020, 10:19:13 PM
Hashrate estimated to drop by 16%.
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
No No No NO
It is rainy ending prices for power were
2-3 cents
now
4-6 cents
Thus miners turn gear off bigly.
If we have continued down turns of 5% the next two jumps then some other issue is happening.
You need to continue your hashrate prediction thread!!!
Thank you for the explaination
November 02, 2020, 10:09:51 PM
Let me share a curios and a little unpleasant story. In my country, a large part of the population ID's expires this year. The government has decided to extend this period by another year due to the covid crisis and to avoid crowds. So far so good. But I started receiving letters from all crypto exchanges that my ID has expired. And now I have to write letters to the support, to explain myself to them to give me access to my accounts. I do not currently have access to any exchange and I have to wait days, probably weeks for this issue to be resovled. This sucks.
I was denied a credit card because my DL was expired, even though my passport was valid. What does driving have to do with credit??? My bitcoin wallet never expires.
I was denied entry to a bar once because my DL had expired. I was 29 at the time.
My ID application was (almost) denied once, because the medical certificate to confirm my blood type was older than 6 months. I asked the lady if she thought my blood type could have changed since the test was done. She stared at me for 15 seconds. Then she accepted my documents.
I speculate that she was looking at your eye colors (maybe getting tinglies too.. if she could see that you had a lil fiend secret contained therein), and then looking at your ID... and since your eye color had not changed, therefore, probably your blood type had not changed, either... Go figure.
Missing 2016 - which is the four-year fractal comparison year...
Go figure?
November 02, 2020, 08:43:16 PM
... I see some tail risk from the election result if Trump wins.
... it's possible the establishment's plan upon a resounding loss to Trump is to pull the pin on the financial system, which is shaky and doesn't need much to push it over.
... they have thrown every dirty trick at him from illegal investigations to Impeachment on charges to cover up their candidates financial crimes, some will be facing treason, sedition or illegal spying charges iff Trump wins so the stakes are high
... he is too much of a threat to their plans for a New World Order, the virus is also part of that plan I'm becoming convinced it was an intentional release by the Chinese as part of the global commie Great Reset plan, and it was released at a time to cause maximum damage to possibility of Trump reelection (also got rid of Bernie Sanders and shitty old insider Biden into the Dem candidacy)
... I have no idea how a massive financial crash and lock up of the banking system affects bitcoin, probably negatively at first, but it may equally immediately go nutz too.
The Great Reset
... it's possible the establishment's plan upon a resounding loss to Trump is to pull the pin on the financial system, which is shaky and doesn't need much to push it over.
... they have thrown every dirty trick at him from illegal investigations to Impeachment on charges to cover up their candidates financial crimes, some will be facing treason, sedition or illegal spying charges iff Trump wins so the stakes are high
... he is too much of a threat to their plans for a New World Order, the virus is also part of that plan I'm becoming convinced it was an intentional release by the Chinese as part of the global commie Great Reset plan, and it was released at a time to cause maximum damage to possibility of Trump reelection (also got rid of Bernie Sanders and shitty old insider Biden into the Dem candidacy)
... I have no idea how a massive financial crash and lock up of the banking system affects bitcoin, probably negatively at first, but it may equally immediately go nutz too.
The Great Reset
November 02, 2020, 08:42:32 PM
I think maybe people are sending corn to exchanges in the anticipation of a potential dump as a reaction to the election results. Maybe if Trump wins they won’t dump but if Old Joe wins they’ll sell into a potential dump.
Either way, whatever. I’m selling nothing!
Either way, whatever. I’m selling nothing!
IDK..
I am not especially for the old Biden.. But hard to see Trump win again.
Put a 5K$ gambling bet on BIDEN at 1.45. Will see
November 02, 2020, 08:36:41 PM
Changed: Added source https://www.dietmareckell.com/
Final Part III: Sea Cemeteries offtopic... / Abandoned military sites: Part I / Abandoned military sites: Part II
Final Part III: Sea Cemeteries offtopic... / Abandoned military sites: Part I / Abandoned military sites: Part II
- Battleship Utah, Pearl Harbor. USA.
- The crash of a fighter jet in the coastal zone in 1947. USA.
- Twin-engine Douglas DC-3. The location is unknown.
- An old Canadian schooner that sank on the lake. Ontario in 1885.
- San Pascal was built in the USA from reinforced concrete in 1920, since 1933 it has been aground near Cuba.
During the Cuban Revolution, San Pascal served as a prison for Che Guevara's army.
- In 2014, the large anti-submarine ship "Ochakov" was used as a barrier at the exit from the lake. Donuzlav (Crimea).
- Artillery cruiser of the Northern Fleet "Murmansk". Norway.
- Cala del contrabandista. Grecia.
November 02, 2020, 08:32:03 PM
Hashrate estimated to drop by 16%.
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
No No No NO
It is rainy ending prices for power were
2-3 cents
now
4-6 cents
Thus miners turn gear off bigly.
If we have continued down turns of 5% the next two jumps then some other issue is happening.
November 02, 2020, 08:04:04 PM
Let me share a curios and a little unpleasant story. In my country, a large part of the population ID's expires this year. The government has decided to extend this period by another year due to the covid crisis and to avoid crowds. So far so good. But I started receiving letters from all crypto exchanges that my ID has expired. And now I have to write letters to the support, to explain myself to them to give me access to my accounts. I do not currently have access to any exchange and I have to wait days, probably weeks for this issue to be resovled. This sucks.
I was denied a credit card because my DL was expired, even though my passport was valid. What does driving have to do with credit??? My bitcoin wallet never expires.
You probably live in USA. I was shocked when someone told me that driving license is considered as an ID in USA. Most of the world have them totally separate. My driving licence is valid till 2056
I got it for 50 years. In USA you have to renew it a lot. It is more like ID then a driving license.why shocked...because of this many americans don't have passports that they have to show everywhere;
"your papers" type stuff.
logging around passport everywhere would have been annoying.
November 02, 2020, 07:47:41 PM
Election results are going to impact markets only for a few days, at maximum.
November 02, 2020, 07:39:06 PM
I think maybe people are sending corn to exchanges in the anticipation of a potential dump as a reaction to the election results. Maybe if Trump wins they won’t dump but if Old Joe wins they’ll sell into a potential dump.
Either way, whatever. I’m selling nothing!
Either way, whatever. I’m selling nothing!
Election results are going to impact markets only for a few days, at maximum.
Given the sheer amount of debt issued due to the Coronascare, the FED must continue to brrr to finance the massive debt the U.S. is obliged to issue not to make economy implode, stock markets to crash and dollars go bonkers.
So if we are talking Trump vs Biden, we are talking very tiny differences in the big scheme of things, only a little blip in history, when 20% of dollars ever existed have been printed during the last six months.
Bitcoin fixes that.
November 02, 2020, 07:28:44 PM
Hashrate estimated to drop by 16%.
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
Please no more lame China-stuff.... they have been the news enough for a few years already
November 02, 2020, 07:24:16 PM
Still hanging on on your ATH whitin 60 days 
Sure. Why not.Not sure what to think. Hopefully it's nothing, and folk are just moving some coin around, and it's triggering Whalecalls.
Not selling at these prices. Not for at least a couple few thousand US dollars more per BTC, at least.
Have no reason to think the $13k floor won't hold.
Hope I didn't just jinx the whole shebang...
November 02, 2020, 07:19:44 PM
Hashrate estimated to drop by 16%.
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
Okex people jailed, rumours about huobi too.
Is this chinese miners getting scared because china is gonna ban bitcoin for real this time?
BTFD
November 02, 2020, 06:40:06 PM
I think maybe people are sending corn to exchanges in the anticipation of a potential dump as a reaction to the election results. Maybe if Trump wins they won’t dump but if Old Joe wins they’ll sell into a potential dump.
Either way, whatever. I’m selling nothing!
Either way, whatever. I’m selling nothing!
November 02, 2020, 06:39:07 PM
Still hanging on on your ATH whitin 60 days
Sure. Why not.
You think an election sell off??
November 02, 2020, 06:28:37 PM
Still hanging on on your ATH whitin 60 days
Sure. Why not.
November 02, 2020, 06:24:07 PM
Got a really really bad feeling about this.
yeah. somethings up. i may even put my seat belt on for this.
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