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

[TERA2]

It would never come to my mind to even use a hardware wallet. It seems like an unncessary excess. A bitcoin wallet is just a private key which consists of ~50 digits. Just write it down, remember it, or some combination of these. A hardware wallet just exposes you to more liability - what if the device is lost, stolen, fried, stops working, is hacked like this, etc. How do you even know the manufacturer doesn't have their own back doors for law enforcement or one day they wont just decide to take everyone's coins.

[Last of the V8s]

@windsok
Jan 8

⚡️ @lightning Networks tokens are so undervalued! Currently trading at < USD$0.0002 😱 ⚡️

tell no one

[ivomm]

https://i.imgur.com/TkeECfh.gif


Yesterday's dump was the most hilarious fiasco I've ever seen. The guy with the 800 BTC that dumped at 14.7 later bought again at... 14.7. Clearly, he was surprised BTC didn't go below 14K as he expected. Pathetic!

[Heater]

Not sure if this was posted here or not:

https://np.reddit.com/r/ledgerwallet/comments/7obot7/all_my_cryptocurrency_stolen/

He bought it on eBay and the seller had already set up the secret word list.

There are dozens for sale on Ebay. All those listing should be reported / removed.

[pfrtlpfmpf]

It would never come to my mind to even use a hardware wallet. It seems like an unncessary excess. A bitcoin wallet is just a private key which consists of ~50 digits. Just write it down, remember it, or some combination of these. A hardware wallet just exposes you to more liability - what if the device is lost, stolen, fried, stops working, is hacked like this, etc. How do you even know the manufacturer doesn't have their own back doors for law enforcement or one day they wont just decide to take everyone's coins.

Oh, TERA2 you´ll have to read up, nobody can help you better, than yourself. Hardware wallets are a wonderfull thing, Just never, and i repeat: ever, buy a used one, can you do that ?
It´s not that difficult.

[Arriemoller]

I'm not a computer scientist kind of guy and I don't like maths. My strengths lies in other areas of specialization.
I have always tried to do and study things I like, rather then pursuing a traditional career and that have lead me on to many interesting paths, crypto being one of them.

However, when I get a bank card I don't give a rat's ass how it actually works, and the bank doesn't tell me either. They just tell me how to use it. The same goes for just about everything else i buy, the TV salesman doesn't tell me how the TV works, just how to use it et cetera.
But when it comes to crypto it's always the other way around, every thread and info page talks ad nauseam about how it works, and very little about how to use it.
I for example no nothing at all about how to use segwit, and yet segwit have been talked about for ages. And I consider myself fairly intelligent. Just imagine then, when average Joe comes to bitcoin and is told to use segwit to lower fees. That won't tell him anything.
Why can't core make a information page that tells you how to use it? And make sure that page is seen among the noobs, and for that matter oldies like me without a degree in computer science. Why do they and everybody else have to talk non stop about incomprehensible technicalities?
I don't give a fuck about the underlying technology, I want to know how to use it.

And by the way, can you make a segwit paper wallet? And if so how?
That is one of the things that core should tell people if they want adoption.

[Arriemoller]

And, yea, I'm grumpy today, I'm out of milk for my breakfast.
Yes I eat breakfast while reading up on this thread.
Anything else you want to know?

[HairyMaclairy]

If it was easy anyone could do it, and there would be no profit in it.  

Bitcoin will be no harder than a TV remote 10 years from now. Point and shoot. 

[pfrtlpfmpf]

And, yea, I'm grumpy today, I'm out of milk for my breakfast.
Yes I eat breakfast while reading up on this thread.
Anything else you want to know?

Haha, you´re to much. Try bacon with eggs for a change. Just once. I mean, we have to die sooner or later anyway . . .  

And i read somewhere: eggs are not as bad after all. They are just small chicken.

[Last of the V8s]

Segwit. Bech32. MAST. Signature aggregation. Key aggregation. Batch validation. Covenants. CT & bullet proofs. Dandelion. Neutrino. Tx compression. Set reconciliation for tx relay. Block template delta compression. NODE_NETWORK_LIMITED. UTXO commitments. TXO commitments. TXO bitfields. Rolling UTXO set hashes. Client-side validation. Peer encryption & auth. Fraud proofs. Scriptless atomic swaps. Zerolink/tumblebit. [Cut:] layer 2, HF rsrch, bip 8. (@rusty_twit)
and a paaartridge in a pear tree

[Heater]

I'm not a computer scientist kind of guy and I don't like maths. My strengths lies in other areas of specialization.
I have always tried to do and study things I like, rather then pursuing a traditional career and that have lead me on to many interesting paths, crypto being one of them.

However, when I get a bank card I don't give a rat's ass how it actually works, and the bank doesn't tell me either. They just tell me how to use it. The same goes for just about everything else i buy, the TV salesman doesn't tell me how the TV works, just how to use it et cetera.
But when it comes to crypto it's always the other way around, every thread and info page talks ad nauseam about how it works, and very little about how to use it.
I for example no nothing at all about how to use segwit, and yet segwit have been talked about for ages. And I consider myself fairly intelligent. Just imagine then, when average Joe comes to bitcoin and is told to use segwit to lower fees. That won't tell him anything.
Why can't core make a information page that tells you how to use it? And make sure that page is seen among the noobs, and for that matter oldies like me without a degree in computer science. Why do they and everybody else have to talk non stop about incomprehensible technicalities?
I don't give a fuck about the underlying technology, I want to know how to use it.

And by the way, can you make a segwit paper wallet? And if so how?
That is one of the things that core should tell people if they want adoption.

Why are you so stressed? You can use the CLI in the core client if you want to segwit /s

Seriously they need to fix that asap.

Does anyone know if they intend to build Lightning network support into the Core client GUI?

[TERA2]

[Neo_Coin]

ETH always positive and quite regular   

[Heater]

ETH always positive and quite regular   

Except when it isn't (like Jun-Dec 2017)

[josephpogi]

This is the sign that bitcoin will go to the moon sir? Anybody here can help me to predict the value of bitcoin in the chart? Thanks.

[Arriemoller]

Segwit. Bech32. MAST. Signature aggregation. Key aggregation. Batch validation. Covenants. CT & bullet proofs. Dandelion. Neutrino. Tx compression. Set reconciliation for tx relay. Block template delta compression. NODE_NETWORK_LIMITED. UTXO commitments. TXO commitments. TXO bitfields. Rolling UTXO set hashes. Client-side validation. Peer encryption & auth. Fraud proofs. Scriptless atomic swaps. Zerolink/tumblebit. [Cut:] layer 2, HF rsrch, bip 8. (@rusty_twit)
and a paaartridge in a pear tree

That's exactly what I'm talking about, that just made my brain hurt, without telling me how to use it.

[afbitcoins]

Segwit. Bech32. MAST. Signature aggregation. Key aggregation. Batch validation. Covenants. CT & bullet proofs. Dandelion. Neutrino. Tx compression. Set reconciliation for tx relay. Block template delta compression. NODE_NETWORK_LIMITED. UTXO commitments. TXO commitments. TXO bitfields. Rolling UTXO set hashes. Client-side validation. Peer encryption & auth. Fraud proofs. Scriptless atomic swaps. Zerolink/tumblebit. [Cut:] layer 2, HF rsrch, bip 8. (@rusty_twit)
and a paaartridge in a pear tree

That's exactly what I'm talking about, that just made my brain hurt, without telling me how to use it.

A few observations about the graphic.

The picture of the network is highly distorted, showing only 3 end users! when really theres hundred of thousands or millions potentially. HIghly connected hubs will be numbered in the hundreds (I feel I'm being generous with that number). That is a highly centralised network, nothing like the depiction.

I doubt many people use a hot wallet for everyday spending. The use case in which people have a spending wallet is already defunct. Who spends bitcoin when the fees are more than the cost of the purchase, you don't spend it.

The promise of low fees on LN was also made onchain in the early days. When I first used bitcoin most people didnt even put a fee. I suspect fees will not be low on LN, only lower than onchain fees.

 

[Heater]

Segwit. Bech32. MAST. Signature aggregation. Key aggregation. Batch validation. Covenants. CT & bullet proofs. Dandelion. Neutrino. Tx compression. Set reconciliation for tx relay. Block template delta compression. NODE_NETWORK_LIMITED. UTXO commitments. TXO commitments. TXO bitfields. Rolling UTXO set hashes. Client-side validation. Peer encryption & auth. Fraud proofs. Scriptless atomic swaps. Zerolink/tumblebit. [Cut:] layer 2, HF rsrch, bip 8. (@rusty_twit)
and a paaartridge in a pear tree

<huge image deleted>

That's exactly what I'm talking about, that just made my brain hurt, without telling me how to use it.

A few observations about the graphic.

The picture of the network is highly distorted, showing only 3 end users! when really theres hundred of thousands or millions potentially. HIghly connected hubs will be numbered in the hundreds (I feel I'm being generous with that number). That is a highly centralised network, nothing like the depiction.

I doubt many people use a hot wallet for everyday spending. The use case in which people have a spending wallet is already defunct. Who spends bitcoin when the fees are more than the cost of the purchase, you don't spend it.

The promise of low fees on LN was also made onchain in the early days. When I first used bitcoin most people didnt even put a fee. I suspect fees will not be low on LN, only lower than onchain fees.

 

When the internet appeared I was sure it would fail because I could not imaging a scenario where companies would pay to run expensive undersea cables that keep up with the demand (and all the other infrastructure) - and let me use it for 'free'. Somehow it works. This time I'm am keeping an open mind. There is enough money on the table so I'm sure something workable will emerge.

[somac.]

WTF bitcoin selling off again. Just go up you bastard, it's the future for christs sake.

[Last of the V8s]

i shrank it