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

[HairyMaclairy]

Hmmm

Just found something that says they are going to put Tether on lighting.

A US dollar denominated crypto on Lightning.   That’s extremely powerful.  Arguably that destroys Ripple and Litecoin.

I still trust Litecoin more. At least it's coin creation is based on proof of work and not blind trust like Ripple and Tether. Plus, Litecoin definitely will be implementing lightning and be engaging in atomic swaps. I enjoy the concept of atomic swaps because you can trade coins P2P without relying on a middleman exchange.

You could use Tether as a pricing mechanism and still pay / receive payment in litecoin.  Which does away with the volatility problem.

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[thrax]

Hmmm

Just found something that says they are going to put Tether on lighting.

A US dollar denominated crypto on Lightning.   That’s extremely powerful.  Arguably that destroys Ripple and Litecoin.

I still trust Litecoin more. At least it's coin creation is based on proof of work and not blind trust like Ripple and Tether. Plus, Litecoin definitely will be implementing lightning and be engaging in atomic swaps. I enjoy the concept of atomic swaps because you can trade coins P2P without relying on a middleman exchange.

Ripple sometimes starts malfunctioning under stress. I remember complaints that a node went offline and the transactions it was processing were frozen until it went back online.

Bitcoin and litecoin don't suffer from that centralised weakness.

[yefi]

I bet if you added up the order books of all the crypto exchanges, you would get more than 21 million bitcoins.

Edit:   BFX USD/BTC pair has 10,350 BTC in order book.   Which is a single pair on a single exchange (although it is probably aggregating with Bitstamp through their arbitrage bot). 

That's the largest BTC market and it's only one in 1,624 of current supply. How many exchanges do you think there are exactly?

[sirazimuth]

All I'm saying is there are single points of failure and it is much easier for Tether to become worthless than it is for bitcoin which is backed by a global economy and the laws of thermodynamics or whatever.

I agree with this.  But I don’t see the catalyst for Tether failure.  Saying it is a fractional reserve currency isn’t enough to bring it down without some loss of confidence in its ability to act as a reserve currency imho.  

I think we should ask roach, he is an expert in these matters...and he knows  things about silver and gold and such, and added bonus he can school us on
the  jews and cucks, so theres that ...

[d_eddie]

Feeble weekend half pump starting?

[HairyMaclairy]

I bet if you added up the order books of all the crypto exchanges, you would get more than 21 million bitcoins.

Edit:   BFX USD/BTC pair has 10,350 BTC in order book.   Which is a single pair on a single exchange (although it is probably aggregating with Bitstamp through their arbitrage bot). 

That's the largest BTC market and it's only one in 1,624 of current supply. How many exchanges do you think there are exactly?

That’s one pair on BFX.  BFX has 30 BTC pairs.  I can’t be bothered looking at all the order books so let’s assume the total BTC on order books is 3x the USD pair.

So 30,000 BTC on the books, or one in 541.  Except it’s one in 400 due to lost coins.  Hard to tell.  Maybe that is reasonable.

[JayJuanGee]

So what?

You are coming off with some BIG blocker talking points and trying to suggest that bitcoin has value only if it can be used for retail right now?

I said nothing of the sort

You said that bitcoin is not a good fit for retail at this time, and you suggested that there is some kind of urgency to fix bitcoin or to lose and opportunity and bitcoin was NOT doing what it should be doing...blah blah blah..

In other words... good enough for me to conclude that either you have been BIG BLOCKER brainwashed or you are one of those nutjobs... 

OK Cathy Newman...whatever you say

The significance of Cathy Newman is?  journalism?

[bones261]

Feeble weekend half pump starting?

Whatever it takes to get out of the 11k range for me. The buy orders that I have are all placed in the 10K range and it doesn't make sense for me to sell until 12000. My ping pong action hasn't been working too well the past couple of days.

[thrax]

Feeble weekend half pump starting?

I wouldn't call $700 upwards feeble, it's a small pump.

[explorer]

https://www.livecoinwatch.com/

This is a pretty cool site. Real-time version of cmc.

with a dark theme and korea-nix option.

[JayJuanGee]

Even if Bitcoin never managed to become an efficient tool for remittance and retail

It already is efficient and successful as a remittance tool.

it will still remain valuable and keep growing for at least as long as no other crypto replaces it as the default base pair in trading alts.

That is a pretty pathetic description of "a significant" bitcoin use case.

This also means that it'll grow at least proportionally to the overall crypto market for the time being.

You seem to be lacking in imagination... no?    

Also, the window of opportunity that jojo noted is a very real threat to Bitcoin's position at the very top. Competition is fierce and the market moves fast. All it takes is a superior coin and the right marketing/hype. Granted that's very difficult to pull off (as it would require resources well beyond what ICOs raise), but it's not something that is unthinkable.

Oh my!!!!!  Sounds scary.   

Our anthropomorphized bitcoin should be shaking in its proverbial boots, no?

1. Not for smaller transfers, no.

2. and 3. Context. I've isolated the worst case use case as an example, which in reality is just one part of the equation. A part that has sufficient potential to justify valuations in the trillions.

4. Extremely unlikely doesn't mean impossible. I'm incredibly bullish on Bitcoin, but that doesn't mean that it's a sure shot.

I just find your whole framework irritating to the extent it seems to devolve into prescriptive rather than descriptive, and seems to convolute the two, too.

I guess conditionals aren't your thing, eh.

I do like conditionals when talking about the future and when talking about unknowns - but there is a difference between using conditionals and what you seem to be doing, which I already asserted that you are proclaiming "ought" rather than accepting "is" while scrambling the two.   

[HairyMaclairy]

I’m not here to shill so I will only say it once - but this is coming from someone who correctly called Dentacoin and Mediblocks.

Telcoin on Kucoin is shaping up as a nice shitcoin. Cheap, is rising nicely and still deep in the ranks at 137 on CMC. Lots of headroom just don’t be greedy.  

Please let me know if this sort of commentary is unwanted and I won’t mention other things I find.

[adaseb]

Anyone here used their tether lately with armory on cold storage?

Been a while since I spent my tether and want to make sure the old version of Armory can still sign the transactions generated by omniwallet.org

They had some hard-fork last month or so and changed some parameters.

[sirazimuth]

https://www.livecoinwatch.com/

This is a pretty cool site. Real-time version of cmc.

Very cool , thanx dude!  I frikkin love it!
As if my crypto addiction needed this to add to the mix, lol
...and I really like that korean switch thingy...

[itod]

Hmmm

Just found something that says they are going to put Tether on lighting.

A US dollar denominated crypto on Lightning.   That’s extremely powerful.  Arguably that destroys Ripple and Litecoin.

Problem with Tether is not that it is a bad idea. It's an excellent idea, but brought to realization in worst possible way, and we now have one exchange printing "magic internet US$" without any auditing or proof that original funds ever existed.

[Actualiteit]

We had a 4H 50/200EMA cross down a few days ago, last one happened the 14th of 15th of september so that was a while ago. The 4h 50EMA or 1h 200EMA has been tapped 4 times with a clear rejection. IMO we are looking at a steady correction to one of the older support lines before building some real bull momentum again. However things like Tether or any crazy news can cause BTC to go ham again, caution is (for me) the way to approach BTC in these circumstances.

[infofront]

I’m not here to shill so I will only say it once - but this is coming from someone who correctly called Dentacoin and Mediblocks.

Telcoin on Kucoin is shaping up as a nice shitcoin. Cheap, is rising nicely and still deep in the ranks at 137 on CMC. Lots of headroom just don’t be greedy.  

Please let me know if this sort of commentary is unwanted and I won’t mention other things I find.

I'm good with it, as long as it doesn't turn into shilling.
A lot of us here trade pump 'n dump shitcoins anyway. There's no better method for increasing one's BTC stash.

[jojo69]

...and bitcoin was NOT doing what it should be doing...blah blah blah..

In other words... good enough for me to conclude that either you have been BIG BLOCKER brainwashed or you are one of those nutjobs... 

...


The significance of Cathy Newman is?

putting words in my mouth

[sirazimuth]

I’m not here to shill so I will only say it once - but this is coming from someone who correctly called Dentacoin and Mediblocks.

Telcoin on Kucoin is shaping up as a nice shitcoin. Cheap, is rising nicely and still deep in the ranks at 137 on CMC. Lots of headroom just don’t be greedy.  

Please let me know if this sort of commentary is unwanted and I won’t mention other things I find.

Ah!.. i see what you did there!
 shilling the occasional shitcoin but covering your ass on the wo thread. Lol . No worries dude.  
I myself like your commentary so carry on...tho i cant speak for anyone else ...

[HairyMaclairy]

You are very gracious.  

In other news I would like to express my disappointment at the rising BTC price. I have put a lot of effort into a bear market strategy over the past week that doesn’t require shorting and am now ready to go.  And the bloody price is rising and I’m twiddling my thumbs!  

Of course I’m long BTC and delighted but I really did want to test it out....