Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
datacentercoin is coming, bitcoin will perish!
DOOOOOOOOOOOOOOOOOOOOOOOOOOOoM!
you understand the distinction between controlled by 1 cooperation Vs decentralized amongst all cooperations. right?
the idea of bitcoin running on home computers while its only use is as a settlement layer only large corporations can afford to transact on is either very foolish or stupid.
maybe my point of view isn't "Nice" but at least its realistic.
lets not forget large corporations and banks have already said PASS on the bitcoin bandwagon, and they are on the Bitcoin bandwagon. weather you like it or not the idea of a decentralized "datacentercoin" as some like to call it, is coming. IMO, bitcoin will NOT be able to compete if it hodls desperately to maximal decentralization idealistic roadmap.
DOOOOOOOOOOOOOOOOOOOOOOOOOOOoM!
I Imagine a future where individual states, universities, governments, corporations, banks are the ones running bitcoin nodes.
China and USA may not agree on a lot of thing, but they will be made to participate in nakamoto consensus!!
I simply do not care if there individual citizens can't run a full node without a 10,000$ investment.
Welcome to the future of money, its a BIG DEAL.
Again, either very foolish or stupid. Bitcoin was always about individual sovereignty and now you're talking about turning it into a government/corporation coin. Nice viewpoint. China and USA may not agree on a lot of thing, but they will be made to participate in nakamoto consensus!!
I simply do not care if there individual citizens can't run a full node without a 10,000$ investment.
Welcome to the future of money, its a BIG DEAL.
you understand the distinction between controlled by 1 cooperation Vs decentralized amongst all cooperations. right?
the idea of bitcoin running on home computers while its only use is as a settlement layer only large corporations can afford to transact on is either very foolish or stupid.
maybe my point of view isn't "Nice" but at least its realistic.
lets not forget large corporations and banks have already said PASS on the bitcoin bandwagon, and they are on the Bitcoin bandwagon. weather you like it or not the idea of a decentralized "datacentercoin" as some like to call it, is coming. IMO, bitcoin will NOT be able to compete if it hodls desperately to maximal decentralization idealistic roadmap.
Probably one of the most dangerous dynamics in recent bitcoin discussions and publicity is when issues are framed as an "us" versus "them" manner, and causes more difficulties in compromising and more likely to go down the road of a forced hardforking, which if such forced hardforking were to occur would likely bring bitcoin prices back down into the below $200s and possibly even into the below $100s (or even single digits), which is not a positive development in terms of getting cheap coins.
It could take bitcoin some time to recover from a forced and/or contentious hard fork if it were not resolved within a short period of time... I think resolutions that define governing or mining consensus as 75% would lead to higher likelihoods of such potential contentious hardforks.... that is why resolutions of higher levels of consensus and softforks would likely be better for inspiring confidence in bitcoin.
the fork towards the view depicted in my post is not optional it will happen.
either in the form of bitcoin itself forking off this way
or
a new coin destined to fulfill bitcoin's original promise of nearly free TX's globally in a decentralized manner.
sooner or later you WILL be made to choose between high decentralization with high fees / second layer ?coming soon? Vs lower decentralization system with near 0 fees that everyone TX on equally
i believe its inevitable.
there's too much good to made from a global TX network that operate at little to no cost. if its not bitcoin that achieves this it'll be somthing like it.
Nothing is inevitable when we are dealing with markets and all the purposes that BTC potentially could serve.
Accordingly, even though you believe a hard fork is inevitable (and maybe even a contentious one is inevitable), it need not be inevitable especially if people do not want such a thing, which many reasonable people do not - because many reasonable people do not consider a contentious hardfork as "necessary", even though others are screaming that it is necessary and/or inevitable... because blah blah blah.. it is.
There may be momentum in one direction or another, and complete consensus surely is an unachievable goal, especially if the space remains decentralized and peer to peer, as is the case in bitcoinlandia.... yet if there is very high consensus, then changes can be made...
I think that it is unrealistic to expect too much too quickly from bitcoin, and even though bitcoin may be competing with paypal, credit cards and other payment systems in the long term.... in the short term, it is building its security, its confidence and its hopefully reliable storage of value which seems much more important than expecting too much too soon.
Regarding your earlier point about the daily candle, it is within two hours of closing, and looks like it could be red today.. it is going to be a close call, since price has been hovering between $415 and $417 all day.. and maybe a little over $417.50 would cause the daily candle to come out green? Nonetheless, at the moment, there seems to be quite a few coins blocking the way between the current price and $417.50 plus.