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

[HairyMaclairy]

I’m sure minimum wage in {State} sucks more.

[wait for long rant about why minimum wage is an entry level job and an entry level job is not supposed to be a living wage]

Y’all with no back up plan other than being a Walmart door greeter better hope badger isn’t drunk again!

[bones261]

I’m sure minimum wage in {State} sucks more.

It definitely does. It is $7.25 an hour, for federal. In Colorado it is $10.20.

[vanobe]

The average Aussie bogan is far better off than the average Murican peckerwood.  For starters minimum wage is A$18.29 which is US$14.25.  
 

Doesn't Australia have incredibly high tax rates?

[BlindMayorBitcorn]

Y’all with no back up plan other than being a Walmart door greeter better hope badger isn’t drunk again!

Are there no prisons? Are there no workhouses?

[Biodom]

I'll just drop this here (it's one among 1000's) =>

https://www.realclearscience.com/blog/2016/02/is_there_really_a_sixth_great_extinction_maybe_not.html

1. don't believe anything that call itself "real science", because it ain't.
2. The refutation is the quote from Sarah Kaplan that says that there were more species going extinct in prior events.

Duh! Prior event lasted for hundreds of thousands, even millions of years and
here we have 1% vertebrate extinction in 100 years.

1% in 100 years is a pretty big number IF it continues, but why won't it?

I think you need to balance that with discoveries.  It's like saying x people die every year, so the population will be zero in xy years.

https://imgs.xkcd.com/comics/extrapolating.png

Which discoveries?
The example is not fitting since I was talking about multiple independent events and you are talking about one individual.

Here is an example of a proper extrapolation: if there are only A, C, G and T nucleotides present in DNA, than I only need to measure the % of one nucleotide (say, A) to find out the %% of all four. No need for further discoveries (in this example).

another one: if we grow turkeys for slaughter and ALL turkeys are grown for less than 3 years, what is the probability of a turkey, which is 1000 days old not to live beyond day 1096. About 100%.

[d_eddie]

Some time ago we had a discussion here about a possible issue with the Lightning Network. Some big blocker was suggesting that the Lightning Network is doomed to fail because routing and because problems.

The potential problem is similar to a double spend attempt. Briefly and roughly: Alice has a channel with Bob, Alice sends funds to Bob and while Bob is offline she broadcasts the channel state as it was before she spent the funds, thus undoing the spend. However, if anyone broadcasts the correct (later) channel state, Alice is done: the whole channel balance goes to Bob. Serves her right for trying to cheat.

The problem is, if Bob's offline he knows nothing about Alice's wrongdoings, so there must be someone watching the channel for him. This someone could be rewarded by Bob with part of the funds if cheating is discovered (and therefore funds are gained by Bob). I speculated that a bounty market could come into existence. It seems there are already some bounty hunters in the present, clunky version of the LN. They are doing it for free at the moment, since the cost of watching a few channels is negligible.

It's in the comments. The video itself is technical. Mention of the bounty hunters was the topic that spurred the most attention in the discussion.

https://www.reddit.com/r/Bitcoin/comments/7xrq5g/lightning_network_and_discreet_log_contracts/

[Elwar]

Some time ago we had a discussion here about a possible issue with the Lightning Network. Some big blocker was suggesting that the Lightning Network is doomed to fail because routing and because problems.

The potential problem is similar to a double spend attempt. Briefly and roughly: Alice has a channel with Bob, Alice sends funds to Bob and while Bob is offline she broadcasts the channel state as it was before she spent the funds, thus undoing the spend. However, if anyone broadcasts the correct (later) channel state, Alice is done: the whole channel balance goes to Bob. Serves her right for trying to cheat.

The problem is, if Bob's offline he knows nothing about Alice's wrongdoings, so there must be someone watching the channel for him. This someone could be rewarded by Bob with part of the funds if cheating is discovered (and therefore funds are gained by Bob). I speculated that a bounty market could come into existence. It seems there are already some bounty hunters in the present, clunky version of the LN. They are doing it for free at the moment, since the cost of watching a few channels is negligible.

It's in the comments. The video itself is technical. Mention of the bounty hunters was the topic that spurred the most attention in the discussion.

https://www.reddit.com/r/Bitcoin/comments/7xrq5g/lightning_network_and_discreet_log_contracts/

Problem, meet solution.

[xhomerx10]

Exchange incompetence reaches a new level in Japan...
https://www.coindesk.com/customer-tries-to-withdraw-20-trillion-in-crypto-exchange-glitch/

Wonder if he would've managed to withdraw if he didn't go for such absurd sums.

 It really does sound absurd.  Let's look at it - $20,000,000,000,000 worth of Bitcoin (at least that's the story)

I know offtopic posts are frowned upon here, and some topics are more off than other, but I'll risk it.

Have you heard about cryptocurrencies? Well there's this nifty thing called bitcoin, it's my favorite.
It's holding 10.5 k-ish.

 If we divide the current value into the exchange glitch number we get

 ~1,904,761,904 Bitcoins?

 #Helluvaglitch!

[BTCMILLIONAIRE]

Exchange incompetence reaches a new level in Japan...
https://www.coindesk.com/customer-tries-to-withdraw-20-trillion-in-crypto-exchange-glitch/

Wonder if he would've managed to withdraw if he didn't go for such absurd sums.

 It really does sound absurd.  Let's look at it - $20,000,000,000,000 worth of Bitcoin (at least that's the story)

I know offtopic posts are frowned upon here, and some topics are more off than other, but I'll risk it.

Have you heard about cryptocurrencies? Well there's this nifty thing called bitcoin, it's my favorite.
It's holding 10.5 k-ish.

 If we divide the current value into the exchange glitch number we get

 ~1,904,761,904 Bitcoins?

 #Helluvaglitch!

The first Bitcoin Billionaire, then there was a solar flare.

[Biodom]

 If we divide the current value into the exchange glitch number we get

 ~1,904,761,904 Bitcoins?

 #Helluvaglitch!

I wonder what would have happened if he simply purchased close to his daily withdrawal max, then tried to withdraw.
The poor bastard might have pulled it off, lol

[BTCMILLIONAIRE]

 If we divide the current value into the exchange glitch number we get

 ~1,904,761,904 Bitcoins?

 #Helluvaglitch!

I wonder what would have happened if he simply purchased close to his daily withdrawal max, then tried to withdraw.
The poor bastard might have pulled it off, lol

Which only leaves one of two conclusions. Either he was being an honest guy and just wanted to provide us all with some lulz. Or he's too much of a moron to exploit and cheat. I'm hoping for the former, but given the average forum user I would probably have to put my money on the latter.

[realr0ach]

Some time ago we had a discussion here about a possible issue with the Lightning Network. Some big blocker was suggesting that the Lightning Network is doomed to fail because routing and because problems.

The potential problem is similar to a double spend attempt. Briefly and roughly: Alice has a channel with Bob, Alice sends funds to Bob and while Bob is offline she broadcasts the channel state as it was before she spent the funds, thus undoing the spend. However, if anyone broadcasts the correct (later) channel state, Alice is done: the whole channel balance goes to Bob. Serves her right for trying to cheat.

The problem is, if Bob's offline he knows nothing about Alice's wrongdoings, so there must be someone watching the channel for him. This someone could be rewarded by Bob with part of the funds if cheating is discovered (and therefore funds are gained by Bob). I speculated that a bounty market could come into existence. It seems there are already some bounty hunters in the present, clunky version of the LN. They are doing it for free at the moment, since the cost of watching a few channels is negligible.

It's in the comments. The video itself is technical. Mention of the bounty hunters was the topic that spurred the most attention in the discussion.

https://www.reddit.com/r/Bitcoin/comments/7xrq5g/lightning_network_and_discreet_log_contracts/

Anyone who pretends lightning network is a valid scaling solution for bitcoin to be used in day to day transactions and mainstream adoption is a conman IMO.  It has some benefits like doing instant arb between exchanges and things like that, but that's it.  It is not something for normal people to use to buy something at a restaurant.  Jihan Wu was not lying when he said the benefits of LN were vastly overstated and the cons vastly understated.

There is no reason for bitcoin to exist as a settlement layer because it's just a valueless currency and currencies like airline miles are never used for settlement.  Gold and silver are far superior settlement instruments and it's impossible for bitcoin to defeat them.  Bitcoin fails as a settlement system (money) because there are better options available, and fails as a currency because it doesn't scale, while also being designed to centralize, thus invalidating it's entire value prospect.  So just what the fuck is it's purpose supposed to be?

#fuckcryptoconmen

#thegoyimknow

#inphysicalsilverwetrust

[jbreher]

Some time ago we had a discussion here about a possible issue with the Lightning Network. Some big blocker was suggesting that the Lightning Network is doomed to fail because routing and because problems.

The potential problem is similar to a double spend attempt. Briefly and roughly: Alice has a channel with Bob, Alice sends funds to Bob and while Bob is offline she broadcasts the channel state as it was before she spent the funds, thus undoing the spend. However, if anyone broadcasts the correct (later) channel state, Alice is done: the whole channel balance goes to Bob. Serves her right for trying to cheat.

The problem is, if Bob's offline he knows nothing about Alice's wrongdoings, so there must be someone watching the channel for him. This someone could be rewarded by Bob with part of the funds if cheating is discovered (and therefore funds are gained by Bob). I speculated that a bounty market could come into existence. It seems there are already some bounty hunters in the present, clunky version of the LN. They are doing it for free at the moment, since the cost of watching a few channels is negligible.

It's in the comments. The video itself is technical. Mention of the bounty hunters was the topic that spurred the most attention in the discussion.

https://www.reddit.com/r/Bitcoin/comments/7xrq5g/lightning_network_and_discreet_log_contracts/

I'm guessing that I may be the aforementioned big blocker. What with our continued conversations over my skepticism and all.

Thanks for posting. I'll read.

There's a lot of layers here. As just one example: 'how much channel state is exposed to outsiders to allow such to police random actors?' But I'll reserve detailed discussion until after I land.

[JayJuanGee]

JayJuanGee post

Can you be more specific you hate-filled nutjob?   Probably not, because you don't really have anything to contribute beyond your various non-topical talking points.

JayJuanGee, can I interest you in a few trillion dollars of Jewish treasuries?

Well, if you would interact with me on the first question, then perhaps I would be willing to entertain the idea of interacting you with further questions

HOWEVER


YOU FUCKING TURD



you did not even address my first question before going on to asking an additional question.

You quasi-incoherent delusional trolling FUCK!!!!!!    

[strawbs]

So stop quoting the trolls so we don't all have to read their posts over and over

[RoomBot]

24777$ prediction game   

Crikey!

How much I gotta buy to make this happen?

09/03/2018 Roombot

 

[mymenace]

What is bitcoin

A  purely   "peer-to-peer"   version   of   "electronic   cash"   allowing   "online   payments"   to   be   sent   "directly   from   one   party   to   another"   without   going   through   a   financial    institution.  


that's it!!!

make of it what you will

its all up to you

 

[savetherainforest]

JayJuanGee post

Can you be more specific you hate-filled nutjob?   Probably not, because you don't really have anything to contribute beyond your various non-topical talking points.

JayJuanGee, can I interest you in a few trillion dollars of Jewish treasuries?

Well, if you would interact with me on the first question, then perhaps I would be willing to entertain the idea of interacting you with further questions

HOWEVER


YOU FUCKING TURD



you did not even address my first question before going on to asking an additional question.

You quasi-incoherent delusional trolling FUCK!!!!!!  

AHHHH.... Good Morning!!! ...

That moment of the morning when you have the pleasant surprise to find JJG fighting with the windmills.  

[vanobe]

 If we divide the current value into the exchange glitch number we get

 ~1,904,761,904 Bitcoins?

 #Helluvaglitch!

I wonder what would have happened if he simply purchased close to his daily withdrawal max, then tried to withdraw.
The poor bastard might have pulled it off, lol

Which only leaves one of two conclusions. Either he was being an honest guy and just wanted to provide us all with some lulz. Or he's too much of a moron to exploit and cheat. I'm hoping for the former, but given the average forum user I would probably have to put my money on the latter.

Never attribute to malice that which is adequately explained by stupidity.

[bones261]

Crikey!

How much I gotta buy to make this happen?

09/03/2018 Roombot

 

Well, I am sure if you had a cool $100 Million USD or about 10000 BTC, you could probably move this market in a direction more to your liking. A friendship with either Barry of DCG or one of the CEOs of Bitfinex would probably be most helpful as well.