Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[bitserve]

That's why blocksize increase is an increase in CAPACITY but not a scaling solution, and Segwit+LN is an increase in Scaling (and thus in capacity).

How do you plan to liquidate your tx LN in a disabled blockchain?
Oh, right, paying $ 100 in fees.

Increasing the size of the blocks is a scalability solution.

As I have previously said I am pro reasonable block size increases as needed to provide the adequate infraestructure for both on-chain tx's AND LN settlements.

Could you explain to me, please, how will the LN transactions be processed in a decentralized way?

It seems to me that the value of a currency comes from its utility.
If we artificially limit the use of bitcoin to offchain transactions, we are limiting its value.

Bitcoin can be a store of value as long as it maintains its usefulness.

Small tx's, purchases, payments (that morning coffee) using LN. All the rest tx's directly on blockchain. Store of value, on blockchain.

This is what I really love about Bitcoin: Currently, you have cash (FIAT), and you have it on your posesion and control. You have your cash wallet from which you go paying small daily stuff but.... The BIG FIAT stash you have it on banks. You are not in direct possesion of it.

Bitcoin changes that, I want to be in posesion and control of my BIG stash. I don't care if my small wallet is in control of "third parties" ie: LN hubs as long as I posses/control the BIG part of my stash.  And this is completely compatible to the idea of blockchain tx's and LN tx's.

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[Meuh6879]

The problem is that this contentious split will scare most ot the traders and they will start panic selling down to 40-50% from the ATH.

Yep, they panic ...



Because they don't have enough shit FIAT to buy REAL btc ...

[LFC_Bitcoin]

SegWit2x reaffirm their hard fork plan:
https://github.com/segwit2x/segwit2x.github.io/pull/6/files

So you're telling me that i will own 3 different Bitcoins with same private key? MOAR FREE COINS?

I didn't realise this, WTF more free altcoin's. Part of me wishes there was no fork & no split even if it has given me thousands of USD in BCH & could again via Segwitx2. This could be problematic for bitcoin in the long run.

[Meuh6879]

not even 1 altcoin raise above 300 USD.
it's not a bug.

[bitserve]

not even 1 altcoin raise above 300 USD.
it's not a bug.

I am not sure I understand what you mean, but... Byteball?

[bitserve]

SegWit2x reaffirm their hard fork plan:
https://github.com/segwit2x/segwit2x.github.io/pull/6/files

So you're telling me that i will own 3 different Bitcoins with same private key? MOAR FREE COINS?

I didn't realise this, WTF more free altcoin's. Part of me wishes there was no fork & no split even if it has given me thousands of USD in BCH & could again via Segwitx2. This could be problematic for bitcoin in the long run.

The combined value of an original BTC with its corresponding BCH is currently over $3600... not bad for a dying asset. Add to that the Byteball airdrops, stellar, clams... and we are talking about around $4000.

If you are also lending BTC (with the increased risk) you can extract even more value from it. I still have some guy borrowing some (fraction of BTC) from me at 2% daily! (almost 25% already, it's crazy).

[gentlemand]

I didn't realise this, WTF more free altcoin's. Part of me wishes there was no fork & no split even if it has given me thousands of USD in BCH & could again via Segwitx2. This could be problematic for bitcoin in the long run.

BCH will prove to be problematic enough in the long run, if there really were two Bitcoins by November I think it's badly rogered. I assume rationality will win out but perhaps rationality has left the building.

More strife. Yippee.

The scaling 'debate' which is really a power debate hasn't been solved in the slightest, it's just morphed again.

[Gab0]

That's why blocksize increase is an increase in CAPACITY but not a scaling solution, and Segwit+LN is an increase in Scaling (and thus in capacity).

How do you plan to liquidate your tx LN in a disabled blockchain?
Oh, right, paying $ 100 in fees.

Increasing the size of the blocks is a scalability solution.

As I have previously said I am pro reasonable block size increases as needed to provide the adequate infraestructure for both on-chain tx's AND LN settlements.

Could you explain to me, please, how will the LN transactions be processed in a decentralized way?

It seems to me that the value of a currency comes from its utility.
If we artificially limit the use of bitcoin to offchain transactions, we are limiting its value.

Bitcoin can be a store of value as long as it maintains its usefulness.

Small tx's, purchases, payments (that morning coffee) using LN. All the rest tx's directly on blockchain. Store of value, on blockchain.

This is what I really love about Bitcoin: Currently, you have cash (FIAT), and you have it on your posesion and control. You have your cash wallet from which you go paying small daily stuff but.... The BIG FIAT stash you have it on banks. You are not in direct possesion of it.

Bitcoin changes that, I want to be in posesion and control of my BIG stash. I don't care if my small wallet is in control of "third parties" ie: LN hubs as long as I posses/control the BIG part of my stash.  And this is completely compatible to the idea of blockchain tx's and LN tx's.

I love it, it's the same reason I went into bitcoin. But, at the moment, CORE does not represent that vision.
Core is limiting the use of bitcoin exclusively to offchain transactions. Just watch your reaction to the Segwitx2 deal. Core represents centralized power, and does not respect community consensus.

Many of them said bitcoin would not work, and now, nine years later, flaunting their power behind the repository created by Satoshi, they want to change the system of incentives that keeps the network safe.

They may be good developers, but they do not understand the economic principles behind bitcoin.

[Starving_Marvin]

not even 1 altcoin raise above 300 USD.
it's not a bug.

I am not sure I understand what you mean, but... Byteball?

Never forget 23skidoo / CHAO, which is running about 30 - 50 BTC a piece

[bitserve]

not even 1 altcoin raise above 300 USD.
it's not a bug.

I am not sure I understand what you mean, but... Byteball?

Never forget 23skidoo / CHAO, which is running about 30 - 50 BTC a piece

Completely Iliquid. You can't even sell a fraction of it without crashing the market.

Byteball, you could sell a few hundreds daily.

[bikerleszno]

When will we hit 3500 ? 21st august will hit 4000 ? lets see

[Lauda]

Battle of the mini walls at BitStamp.

[bitserve]

Battle of the mini walls at BitStamp.

The sell walls are losing (being eaten) the battle atm.

It would seem as if some moderately high stash individual is taking some profit in a civilised way.

[marcus_of_augustus]

I love it, it's the same reason I went into bitcoin. But, at the moment, CORE does not represent that vision.
Core is limiting the use of bitcoin exclusively to offchain transactions. Just watch your reaction to the Segwitx2 deal. Core represents centralized power, and does not respect community consensus.

Oh god they're back ... where is it you guys all go to get schooled/programmed with your lies and disinformation bullet points? You're like goddammned bots.
.... visions ... blah-bla-blah ... core limiting bitcoin .... derp-herp-burp ..... core-centralised ... blah-blah-bleep-bop.

Hi. We are here to talk to you about Satoshis vision, do you have a few moments?

[Icygreen]

So I'm heading off to thailand fully paid for by the free coins tomorrow, and I need a new suitcase. I'm thinking pink for easy visibility, but maybe an ugly yellow would work too. Thoughts?

Yeah... Why would someone go to Thailand instead of Las Vegas?

The fuck would I do in vegas except go broke?

Thailand is cheap, is not FUCKING COLD and has some of the best food in the world. Also, bargirls.

Besides the obvious, I'm very curious to see if I can make enough money trading bitcoin with the locals to pay for the stay. If so, why would I not live in a high quality hotel in a great country instead of a far more expensive apartment in a frozen wasteland?

Now you can buy residency in Thailand for 5-10 years or longer. I'm willing to bet other countries in Asia start to follow suit.
http://uk.businessinsider.com/you-can-buy-elite-residency-in-thailand-for-60000-2017-4

[marcus_of_augustus]

Now you can buy residency in Thailand for 5-10 years or longer. I'm willing to bet other countries in Asia start to follow suit.
http://uk.businessinsider.com/you-can-buy-elite-residency-in-thailand-for-60000-2017-4

https://www.bitpremier.com/5-real-estate/2539-penthouse-in-phuket

[nanobtc]

I imagine Goat has more Thai experience than most here. Long-time readers may recall that he married a Thai girl, and moved there.

[gentlemand]

I thought he was Thai through and through.

[fabiorem]

For fork's sake! Bitcoin Core braces for another cryptocurrency split: https://www.theregister.co.uk/2017/08/08/bitcoin_core_fork_cryptocurrency/
"This is basically a sign from Bitcoin Core that they do not regard SegWit2x as being the real Bitcoin," explained Ryan X. Charles, CEO of Yours.org, in a YouTube video: https://www.youtube.com/watch?v=ep4HtGgOdjw. "...This all but assures there will be another split when SegWit2x occurs."

Yeah, this time chinese miners will get rekt mining 2x bitcoin with declining price to 200$ and below. BTC brand is reserved for bitcoin core, so it will be the real bitcoin for some at least. The problem is that this contentious split will scare most ot the traders and they will start panic selling down to 40-50% from the ATH. At least this what happened many times this year.  But this is just the beginnig of the drama. Core dev's are planning for a change of POW (asic resistent of course), so that they will enforce the new version of core's software to work even if 100% of the pools are mining 2x bitcoin. If that scenario happens, I would expect a further price plummeting.  

I'm confused now. Will the miners release a new wallet for the 2x bitcoin, will it have a new name? If I have Core 0.14.2 in one system and 0.15 in another, will I have two kinds of BTC, one 2x and another for LN? More free coins?

[jojo69]

I remember Goat, he deleted all his posts here and started cryptocrypt.

Pretty funny dude, we had tons of lulz back in the day, he ended up chasing me off cryptocrypt though.