Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 9736. (Read 26630520 times)

This is fair.  Except fidelity does hold, albeit on an extremely macro level.

Year on year we have only once made a lower low in a following year, and then only by a whisker in the depths of cryptowinter.

"Changing" it would result in an immediate hard fork and considering the economic majority would not support it it would probably be rendered worthless (the hardforked chain I mean). It would be a chaotic event that would have some significant impact on price overall though. The one entity losing the most would be the one causing the hard fork and drop in price.

It is basically the same as if the richest people in the world decided to airdrop all their billions to the rest of the population. FIAT value would drop relative to other assets, but they would be the more directly impacted.

In other words, the most powerful network contributors have a very high economic incentive to just play by the consensus rules.

No. It would require a consensus among 51% of the miners to change the protocol or a successful 51% attack, neither of which is likely to happen. It is hard to overstate just how incredibly improbable that would be. And should it happen then it would no longer be bitcoin.




Sure a lot of them do. A lot of others see different/more reasons. I consider it a store of value not related to fiat return. That's an admittedly long (very) view. It's also a world computer. And a way to take control of your own financial power without middle men, with the concurrent responsibility of being very up to date on security.

Thank you, kingcolex, for the clear response.

Although I'm not totally unfamiliar with SHA256 and the concept of sovereign ownership (I find these things quite interesting), I see that you've highlighted fiat return as a primary reason for financial investment into the bitcoin project.


Although I've heard these points made previously, I appreciate your restating of them, as I believe some of these innovations will have massive implications with regards to the way the global economy evolves.

As for there being a "limited supply", is this not simply a variable, able to be changed at the discretion of the largest and most powerful network contributors?


This is very intriguing - are there any guides or tutorials that explain exactly how to do this?


I'm still not sure that this is necessarily true.
I'm not even sure it's worth continuing to suggest investing, to be honest. Does it further the discussion regarding technical understanding? Does it do anything other than simply pressure others to join "your side"?


Back to the primary motivation of fiat return (and potential loss), I see - is this how most people see bitcoin? A purely speculative asset and/or tool for gambling?

I don't see what your observation about so-called 'leaders' has to do with the price of tea in China. Want to explain yourself?

To be clear, I am not saying that the stock:flow model is definitive. I am saying that the eventual price is very high, due to the endemic properties of crypto as money. And that getting from a price of Zero to a price of FuckYou is bound to take significant time, and be very chaotic along the way.

The stock:flow model is simply an empirical model that seems to roughly explain the observed underlying reality. IMNSHO.

I expect anyone that trades with any expectation of fidelity to the S:F model will likely do well on average, but likely be wiped out at some point along the way where that fidelity breaks down completely.

We humans like things in neat little predictable buckets. But while markets are derived from human behavior, price predictions are not amenable to mere mathematical analysis.

I wondered that at first too. I'm pretty sure it's just a reference to the queue depth at bid/ask prices.

I only buy bitcoin to up my WO street cred.

You won’t learn much until you buy some and use it. Log off this board and go buy some VPN services using Bitcoin and you will understand.

It was a genuine question, as I'm unfamiliar with the term - what does "Wall Observer" mean?


Although I've expressed interest in understanding the application of cryptography, as has been done with bitcoin, I find it strange that your primary response is to encourage out-of-pocket investment in the project/experiment.

I am compelled to follow up - why should anyone invest in bitcoin? Fiat return? Future potential for fiat return? Value retention? Acquisition of secure digital assets/property?

Maybe a better way to follow up would be to ask why YOU'VE invested in bitcoin? Is it one of the above reasons? All the above reasons? Something completely different?


Maybe I am naive, but I do not see why this would be the case; can we not have valid and insightful discussion on the subject without being financially invested?


I'm not sure I believe that setting up an account on an exchange (and acquiring bitcoin) will do anything to further the individual's understanding of the technology itself.

Let me ask another question, what is YOUR understanding of the technology?

It is physically painful to be slowly drip feeding, dollar cost averaging, into a very large, multi-year leveraged long right now on super low leverage.  It hurts to buy and every day see you have lost a little bit more.

The greatest long term trades are always incredibly painful to enter.  This helps me to keep going.  And the companionship of this board and your brilliant jokes !  And my dollar cost average keeps falling.  So carry on.

Robinhood...lol


Translated into non-pr english:



Hi,

We dun fucked up. Your password wasn't even hashed. lol. Woopsies.


Sincerely,

The Robinhood Team

^
Nominated troll posting

BSV 14000 tps
Komodo 10000 tps
Xem 4000 tps
Eos 3000 tps
Xrp 1500 tps

Btw I thing my friend told me at 350-ish = he Said imagine this thing could rise crazy high with only a 10% chance of succeeding.... Then you must invest, and for him the % of success where much higher but nontheless imo you already should invest with thinking this.... might be b00ze talking now, and F*** mindrust go all-in bro, be more happy with your wealth in BTC as in crypto especially when there are no unexpected costs looking around the corner....

Goodnight!

HODL tight with me, be drunk with me on a F***ing Wednesday lol

Looking forward to tomorrow have 2 big things on shedule, 1 requires a HAT change (only for a few hours, 15K Will be back same day ) !!!!!!   

BtF***ingw

Whats the price, did’t check that sh*t for hours..... made me think, I can eat a Peach for hours, from which movie did that line come from..... its a bit older but amazing movie

Thirty nine degrees
BBQ, salmon papillon, rosé wine!!!!
HODLers life I guess



Now into drunk and midweek HODLsleep...... b00ze and wine got me good!


One day I Will master this haiku stuf.

You are so funny.
The world is going on the other direction. Boris, trump, marie le pen and all the others.

Wasn't there some point in which you asserted that you became enlightened about bitcoin in 2017-ish, and you realized that your 2013/2015 skepticisms of bitcoin were partly due to your lack of knowledge, that you supposedly subsequently fixed...

In other words, unless you reverted, you should be more enlightened now, in regards to bitcoin than you were in those earlier times, no?



Of course, everyone should have some fear and skepticism because there are a multitude of factors playing on bitcoin..... the good, bad and the ugly.


Yeah, and you later asserted that your non-investment in those times had been short-sighted.


Usually I recommend that folks invest 1% to 10% into BTC, so 20% is a bit much, but hey, everyone has differing circumstances.

Whether you should reallocate or not, might be another question.  Perhaps since you started out with a high amount, there would be more justification for you to reallocate, if you had only invested a lower amount, such as 10%. 

Those reallocation decisions are personal in nature, and partly have to deal with whether the remaining of your investments (outside of BTC) are sufficiently stable and some of them might need some additional injection of your BTC appreciation to make you, overall, more stable financially... Financial stability should assist you in being more psychologically stable, too.


You predicted it or wished for it?  Hahahahahaha.. I think that I understand, that you had presented ideas that $20k was possible... which is just a statement of what could happen, so maybe there is no need to read into that post of a statement more than it was?


Good that you are comfortable, generally.


You might be slightly over-invested.. but sure, I understand that sometimes people might invest a bit more than others and still be within a wide range of reasonableness.


I thought that you post began badly.. but overall, you seem to be in a pretty decent place, and perhaps, since you are somewhat over-invested, from my perspective, you will feel more comfortable not to have to FOMO chase the BTC price up.  On the other hand, you will still be kind of ready to buy more BTC in case the BTC price goes below certain price thresholds that you determine to be comfortable for yourself.

Well there are peeps who are balls deep into BTC already (LFC, goose, Bob, your humble servant etc) whose bags are full and who don't buy anymore (or do buy small q-ties). Many don't buy because they got their coins really cheap (3 digits or less) and can't force themselves to buy at $10k+. Then there are guys who believe in BTC but can't afford to buy as it will make them homeless or worsen their quality of life significantly. Finally there are lots of naysayers, nocoiners and simply ones who haven't heard about BTC.

Anyhow, I wouldn't say that this mechanism isn't working as we're now at ~$10k which is not that bad.