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

[Elwar]

Tried to install LN node on my server but I have to run a full node. My server only has 200 Gb.

Is there a preferred way among people without home servers?

[1714312752]

1714312752

[infofront]

Tried to install LN node on my server but I have to run a full node. My server only has 200 Gb.

Is there a preferred way among people without home servers?

Most people probably use a VPS. If you look around you can find one that's good enough for less than $9/mo.

[infofront]

Apparently the upside-down Bart pattern has a real name:

[vapourminer]

Tried to install LN node on my server but I have to run a full node. My server only has 200 Gb.

Is there a preferred way among people without home servers?

you cant run core in prune mode for LN?

[Vlada69]

nice bull trap...

[bitmover]

People read about fungibility in Wikipedia and about segwit on bcash blogs and take these crazy conclusions.

People to lazy to read books or good sources of information such as GitHub ... As a result, bad investments, such as bcash.

[mymenace]

https://twitter.com/BithumbOfficial/status/1009239883645243392

[Notice for the suspension of all deposit and withdrawal service]
We checked that some of cryptocurrencies valued about $30,000,000 was stolen. Those stolen cryptocurrencies will be covered from Bithumb and all of assets are being transferring to cold wallet.

*All deposit and withdrawal service will be stopped to make sure the security. We will keep notice you of the restart of the service. We apologize for your inconvenience and thanks for your understanding.

timing is everything Kevin, twas no coincidence


more to come?


will there be a big one or multiple?

[jojo69]

fucks sake

[mymenace]

nice bull trap...

I look from ATH down, growing and growing and growing


mother of all bear traps


other than a cataclysmic event


crypto is going mainstream

[Dabs]

Any coin you'll buy from an exchange will probably have a segwit history.

Which of course would just result in a niche that needs filling by an entrepreneur to found an exchange that deals strictly in Segwit-free bitcoins. Market pressures always result in market solutions. Kinda econ 101, that.

There are no such exchanges, and I seriously doubt any future exchanges will exist that deals strictly in Segwit-free bitcoins.

There is NO difference between the "distinctive classes" you have enumerated. None. There may be a technical difference, there is no practical difference. It's like saying cracking 256 bit hashes or encryption has a chance. Yes, there is a miniscule technical chance. No, there is no chance for the normal person or government, or governments. The chance of winning the lottery is higher.

I have continually stated that I am merely pointing out that a reduction in fungibility is endemic to the design of Segwit. I said nothing about a current attack.

There is no attack. There won't be an attack. Not while we live (for the next 50 years). If coins have no difference other than what address they came from, then they are fungible for all practical purposes. If coins are mixed through many different ways (going through an exchange, Coin Joined with hundreds of others, coming out of some gambling site, bouncing from one address to another) there is no difference among all of them, they are all valued the same.

The worth of legacy coins is the same as the worth of segwit tainted coins. It's all bitcoins. You send them to an exchange they will pay you the same rate as any other sender.

The difference is, it's a little bit cheaper to send segwit coins. It costs the same to receive them.

[TERA2]

Is the mini bullgasm over yet or still going?

[Elwar]

Is the mini bullgasm over yet or still going?

*Checks the price*

*still less than 5 figures*

Not started yet.

[Elwar]

Tried to install LN node on my server but I have to run a full node. My server only has 200 Gb.

Is there a preferred way among people without home servers?

you cant run core in prune mode for LN?

I'll give that a shot.

[Anon136]

Apparently the upside-down Bart pattern has a real name:

The demand zone... I like the sound of that place.

[bones261]

So is this recent dump a response to the Bithumb hack or is it just coincidence? 30 million USD worth of coins certainly is small compared to the whoppers that we have had in the past.

[realr0ach]

[aaroque2003]

So is this recent dump a response to the Bithumb hack or is it just coincidence? 30 million USD worth of coins certainly is small compared to the whoppers that we have had in the past.

Indeed.. 30 millions is nothing... 

[xhomerx10]

Miners don't need anything like $6000/BTC to remain profitable.

I'd put it closer to $2000, even lower if you take the money laundering angle into account.

 Let's try to figure this out.

...

  US $2045.18

...

Thanks for the analysis. While it should be obvious to most, this model employs electricity as the only cost to mining. Of course, we know this is not the case. I wouldn't know what capital acquisition, cooling, rent, plant, maintenance, labor, etc might add to the cost.

 Well, it's easy to calculate the electricity costs since the miner efficiency is known.  

 Take the cost of Canaan's Avalon 841 Bitcoin miner @ $710 with a MOQ of 40 as an example.  At today's difficulty it would take over 300 days with the ultra low Hydro-Quebec rate I cited earlier to cover the cost of the miners after paying only electricity.  Today's difficulty is key here - it only rises which proportionally increases the time to recoup the cost of the miner. Without even considering the other costs you cited, I don't see a viable business model.  I believe that only the manufacturers of miners are able to do this and the ones who sell batches to the public to offset their costs probably have a leg up on those that do not.

 Suffice it to say that my electricity-cost-only to mine a Bitcoin with a 0.1 J/GH machine would be slightly over US$6600 today but I haven't mined Bitcoin since the days of the KNC Jupiter.

[realr0ach]

Today on twitter I saw some EOS shill respond to one of Szabo's posts and call him a "fucktard".

https://twitter.com/NickSzabo4/status/1008974899690463232

jesus fucking christ

the fail is strong with this one

The whole thread is fail because Szabo pretends bitcoin isn't designed to centralize, thus giving you the exact same problem he complains about EOS having.  There is NO real world outcome in which mining doesn't become insanely centralized in a few giant warehouses.  Those giant warehouses are just enormous physical attack vectors that the govt knocks on their door and forces AML/KYC on.  Then, all of the same countries like the G7/G20 that have extradition treaties with each other and such, all create a common shared blacklist of coins and you have a permissioned ledger slave system where the govt can just turn off your money at will if the govt doesn't like you and you cease to exist.

That is the exact model of the "new world order" slavery system as described by Aaron Russo:

https://www.youtube.com/watch?v=ZKeaw7HPG04

So fuck Nick Szabo for shilling for non-fungible trash.  And that's what any non-fungible currency is - trash.  Fungibility is required for it to be money.  It's not money.  It's a system of control.  Your options then become doing something like moving to Monero, but Monero is not really fungible in the first place because any craptocurrency where the protocol can just mutate or fork at random is definitely not fungible even if it has a built in coin 'tumbler'.  'Money' is not allowed to mutate or change at random.  Money is supposed to be boring and unchanging.  That's how it remains fungible.

Then you have the problem that Monero is also just a giant honey trap because if the encryption ever falls apart, it's just a free list of illicit transactions for the govt to rake over.  TLDR:  All cryptocurrencies are garbage.  Buy physical silver.

[Anon136]

It's not money.

You are aware that almost nobody thinks it's money right? Everyone says crypto-currency for a reason.