Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 6996. (Read 26710999 times)

First of all, congrats. This is probably the most important post I have seen on the matter since a while. And you reminded me of this epic Andreas talk in Milan 2016 where those guys you mentioned (consultants from Deloitte, KPMG PwC etc.) were completely gobsmacked by that speech, that of course they couldn't understand!
https://www.youtube.com/watch?v=mRQs9Y6CUSU&feature=emb_logo

You can't not mention Bitcoin in any blockchain / smart contract / crypto conference, that is just absurd, even if only mentioned casually. The reason they are all there was because Bitcoin came into existence and everyone forked it. The alts do have their use cases, but it's not what they are advertising. It's a way to get more value if you know how to play the game.

Interesting. If you get another one let me know. Thanks!

*yawn*

Well said.

I remember listening to 1-hour talks about "blockchain technology", without a single mention of the word Bitcoin. What a joke! I remember conferences and events where the word Bitcoin was almost taboo.

Shitshow indeed.

I use CW a lot, so I would be happy to get one.

The Autumns of 2018 and 2019 were bearish. The Autumns of 2016 (2x) and 2017 (6x) were bullish. I am curious what the Autumn of 2020 will be. I don't know, but may be a new poll will show the sentiments. Something like "What will be the peak price range until 22 Dec 2020: 10K-12K, 12K-15K, 15K-18K, 18K-20K, 20K-25K, 25K-30K, 30K-40K, >40K?" I am moderately bullish, so my answer would be 15K-18K. Of course, I don't mind >40K at all.  

I am just amazed: this quarter Grayscale bought an amount of bitcoin equal to the 79% of newly mined Bitcoin.



I run some calculation on my own... waiting for official confirmations... in case.. you read it here, first on the WO!

bitcoins invention had such a deep impact on everything a proper IT guy was holding as true that it confused the shit out of everyone that went down the rabbit hole in the first place. how to wrap one's head around this beast?

the easiest structural thing to identify of this new kid on the block was its database structure. man, what mess could have been saved if they would have just called it TIMECHAIN and not fkn stupid BLOCKCHAIN. bitcoin was such a weird and unknown beast that the best strategy seemed to be to start with understanding why it uses a timechain.

somehow this approach started to become so dominant that people started to refer to the timechain being "the tech that enables bitcoin". this was a lazy and stupid approach, but it helped explaining how in an "append-only" database, if you do wrap the data in "blocks" and connect them via a hash consecutively in a time wise order, that this data is now unpenetrateably sealed into the database.

so plausible, so catchy - and not wrong at all. but for fuck sake not THAT relevant either. the consensus algorithm with validating nodes, the difficulty adjustment, the game theory of competing miners getting a reward (block reward), the torrent-like distribution of the database, the collective git-process of open source software development, the ten minute global sync time (block time), the hard cap, the fee structure, the emission schedule (halving)

all them are important delicately enginereed details of the bitcoin tech that make that boat float.

to say that blockchain is the tech that enables bitcoin is like saying it is the order of the tires that is the tech behind a car. sure placing the 4 tires in a correct manner is important if you want to build a car. but you still need a fkn motor, steering, a brake, and a body.

that a misunderstood buzzword could create this biggest shitpile of lies and deception and fraud and scam in tech history is a phenomenon on its own. and boy it did become alive and is a beast of its own now.

bitcoin dominance at 55% percent shines a light on the amount of sheer stupidity. IT and marketing "blockchain-not-bitcoin" farts glorifying "blockchain" as the new global next big thing in tech (check out the blockchain strategic papers of the BIG FOUR global accounting firms Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers - them managing 85% of global companies, they hail the blockchain the same way lunatic hardcore Christians hail the last coming of the messiah) is a joke unfortunately only maximalists seem getting.

this one little misunderstanding of timechain has created two separate multi billion grave nuthouses that have their own life now.

1)
6999 shitcoins (aka "products") with no use case other than scamming (or like in ETH case, the use case is enabling scamming in different layers (ERC20, DEFI, NFT) on one side. people get scammed to buy tokens that should have never been sold for money. in bitcoins case a market had to be established to facilitate price finding and distribution. how on earth did that emerge as a model to straightforwardly sell vaporware to "investors"?  looking at you coinmarketcap and at you - exchanges. why would you sell digital gold on one side and 6999 fake gold shit on the other?

2)
5 years of billions invested of global consortiums of the biggest global players (looking at you, CORDA) in all kinds of "blockchain" products that never saw the light. hundreds of conferences, thousands of marketing suits, spitting out the same "blockchain is the future" sheit year after year after year - and to this day NOTHING, NADA, NULL, ZERO use cases.

how doesn't anybody see the strange asymmetry between two industries both working on "blockchain" - one side has 6999 products with no use case and the other is the plethora of existing companies desperately searching for products. why don't they just team up?

because their concept is laughably incorrect, they can't merge since blockchain is no tech. both sides derailed from real IT to a mere buzzword. trying to build industries on it.

what a shitshow.

I'm testing the new cryptowatch desktop app and I'm pretty impressed. It's available for Windows, OS X and Linux : https://cryptowat.ch/apps/desktop

I have an early access invite code to give away. Just reply to this message and I will send the code to the first person who is interested.

https://twitter.com/whale_alert/status/1311558945253851140

https://www.microstrategy.com/en/bitcoin

I know...  nearly a whole quarter corn!  But I hadn't really thought about the fact I did a 21 themed buy that day... Thing is I don't really ever buy it that often anymore... but that day?  What a sale!

 

the evening wall report

#dyor
cats dancing in the moonlight
1h



the sparrow hodls the key
4h



surely each bitcoin is worth more than a BRK-A         I dont think $366kish a unreasonable peak price estimate for the next parabolic rise
W




#stronghands

You are killing it... capital no capital.....  well surpassing a .21BTC threshold - a kind of ball hogging - which is surely more than the world average.. all in one buy.  1/100,000,000 of the total BTC supply.   

Further, I was becoming envious that nullius was getting so much of the word-counting attention, but I am glad that you reserved a wee bit attention for yours truly.   

I REALLY like mysteriously bullish Elwar.

His Loquaciousness is certainly correct about the above... and I remember the combination of pain and pleasure of that day in March.

It's probably a bad idea to post this...  but what the hell... YOLO...

Long overdue!