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

[Phil_S]

Makes sense to buy a cheap phone just for a trip, with no secret/personal info.

[1653058768]

1653058768

[Torque]

OT : Bitcoin-related pump and dump of the day - Overstock.com

Look at the 5-year chart, lol
https://www.google.com/search?q=overstock+stock&ie=utf-8&oe=utf-8&client=firefox-b-1

Feel sorry for anyone that got caught up in that. Overstock is still a good company and Patrick is the bomb of CEOs.

[jbreher]

Thanks guys for the congrats and the merits but it's a travesty.
Am totally not worthy to be in the same leagues ('legendary') as some of you. Even jbreher did a good thing once.

cheers!

[bitserve]

Be aware if you travel to New Zealand these days.




https://www.radionz.co.nz/news/national/367642/travellers-refusing-digital-search-now-face-5000-customs-fine

WTF?

Never go to New Zealand.

On a separate note, Bitcoin price is cooling down in the 4hr chart but I think support will be found just below the $6,500 level. In other words: the sideways trend continues.

Never travel without your clean "disposable" electronics (laptop/phone). That way you don't even have to worry much about theft or losing em.

In other words, always repurpose your older devices as traveling gear when you do upgrade.

[d_eddie]

Just bought s'moar. Dollar cost averaging on its way, especially on the way down as someone else has drilled into our collective heads 

I hope my timing is lucky this time around. Not so much for the small advantage of buying slightly cheaper, but as a good start for a year final bull run in bitcoin's best tradition. Every moon climb begins by tackling a hill.

[cAPSLOCK]

Segwit and nonsegwit are all "on the blockchain."  I don't know how anyone who has been in bitcoin for a while would conclude that segwit is NOT on the blockchain?  I do believe that segwit has allowed the transactions per second to jump up dramatically and if you hit refresh on that page you will see the transactions per second jumping around between 10tsp and over 300tsp...   It seems that before segwit, there were proclamations that the bitcoin blockchain could only process a maximum of 7tps.

Yeah... about that....

Segwit or no segwit, BTC is utterly incapable of averaging 300 tps. By a couple orders of magnitude. Block weight will not allow it.

People testing the lightning network are seeing 400TPS easily between two nodes.  

Segwit let that happen.

Note the "on the blockchain" in the quote that advances the mistaken notion -- which I corrected -- that ...

Oh fuck it. If you're determined to be a loon, go ahead. Knock yourself out.

But what difference does it make, jbreher, if "on the blockchain" or not,

Because 'on the blockchain' means 'on the blockchain'.

Because words have meanings.

Because the total value accessible* on the pan-global lightning network won't even buy a single house in some markets.

*Because that total value really isn't 'accessible' anyhow.

We that is the fundamental argument is't it?  I mean you ad-hom calling me a loon is not very effective, but that aside, The choice of the Bitcoin camp is to move mass tx *off* chain.  And segwit allowed that.  The Choice of the BitcoinCash crowd is to have every transaction permanently recorded on the main chain.  I think the layer-2 way is right, and therefore I am glad to see hundreds or thousands of tx/sec to move OFF the blockchain.

[jojo69]

jeez guys...I don't know what is happening

I'm supposed to be an OG bitcoin sophisticate and shit.




I'm bored man, I mean, I really appreciate y'alls efforts to entertain and engage, I really do, but man, the rain is coming soon and this sideways is boring as fuck.

it might be time

[AlcoHoDL]

[...]

The choice of the Bitcoin camp is to move mass tx *off* chain.  And segwit allowed that.  The Choice of the BitcoinCash crowd is to have every transaction permanently recorded on the main chain.  I think the layer-2 way is right, and therefore I am glad to see hundreds or thousands of tx/sec to move OFF the blockchain.

Exactly! I just can't imagine my daily morning coffee and other petty, insignificant purchases being permanently recorded on-chain, and having to be copied to millions of devices on the network and preserved ad-infinitum... This would soon result in a monstrously large blockchain that contained mostly worthless junk. It just seems so pointless and a great waste of resources.

Logic dictates that, as Bitcoin grows and adoption increases, the blockchain should tend to contain mostly transactions of non-trivial value, that are either transfers of non-trivial amounts of value/wealth, or aggregates of smaller transactions coming from one or more off-chain layers, such as the Lightning Network. Such "layered" approaches are already being successfully utilized in several computer science concepts that are being used by you and me everyday. Computer networking is one of them.

Regardless of what each of us support, the Bitcoin ecosystem will find its way, and, almost by definition, will move towards the optimal solution to the scaling problem. "Vires in numeris." Nothing to worry about. Just HoDL and enjoy the show.

[HairyMaclairy]

Goldman invests in Bitcoin B2B payment services start up Veem

https://cointelegraph.com/news/goldman-sachs-leads-25-million-funding-round-for-blockchain-payments-startup-veem

[d_eddie]

https://twitter.com/btcking555/status/1046830200372318213

Investors IPOwned... nothing to see here gents, please move along.

[infofront]

Segwit and nonsegwit are all "on the blockchain."  I don't know how anyone who has been in bitcoin for a while would conclude that segwit is NOT on the blockchain?  I do believe that segwit has allowed the transactions per second to jump up dramatically and if you hit refresh on that page you will see the transactions per second jumping around between 10tsp and over 300tsp...   It seems that before segwit, there were proclamations that the bitcoin blockchain could only process a maximum of 7tps.

Yeah... about that....

Segwit or no segwit, BTC is utterly incapable of averaging 300 tps. By a couple orders of magnitude. Block weight will not allow it.

People testing the lightning network are seeing 400TPS easily between two nodes.  

Segwit let that happen.

Note the "on the blockchain" in the quote that advances the mistaken notion -- which I corrected -- that ...

Oh fuck it. If you're determined to be a loon, go ahead. Knock yourself out.

But what difference does it make, jbreher, if "on the blockchain" or not,

Because 'on the blockchain' means 'on the blockchain'.

Because words have meanings.

Because the total value accessible* on the pan-global lightning network won't even buy a single house in some markets.

*Because that total value really isn't 'accessible' anyhow.

We that is the fundamental argument is't it?  I mean you ad-hom calling me a loon is not very effective, but that aside, The choice of the Bitcoin camp is to move mass tx *off* chain.  And segwit allowed that.  The Choice of the BitcoinCash crowd is to have every transaction permanently recorded on the main chain.  I think the layer-2 way is right, and therefore I am glad to see hundreds or thousands of tx/sec to move OFF the blockchain.

Lightning, or something extremely similar, would've been possible without segwit.

[El duderino_]

Monday: 1:23pm - 4 beers flowing through my veins already.

Experimenting with high-quality vape products, additionally.  

It's going to be one of those weeks.

Feels like more sideways to me.

EDIT:

"BTCKING555 (@btcking555) 2m2 minutes ago

Latest from insider Bitmain Q3 results are shaping up much worse than expected. There will be even more massive inventory and crypto write-downs. that in addition to collapsing S9 prices and skyrocketing network difficulty #bitmainipo @HKEXGroup"

https://twitter.com/btcking555/status/1046828022958116867

EDIT2:


https://twitter.com/btcking555/status/1046830200372318213

EDIT3:

* cracks open Beer #5 *

The complete opposite of my day just 1h box and 1h bodypump behind me  
First thing afterwards is checking WO to see where you are standing with beers and shit Then checking BTC price
And yes its the usual of last weeks you around a six pack of beers and BTC sideways.....
time for Some excitment a BIG pump perhaps ? Bullish end of the year ?

[JayJuanGee]

I'm curious to find out if the end-of-year rally will take us to $10.000.

Sure as hell hope so, I’m predicting us to end 2018 on around $12,000. This prediction is based on absolutely nothing except my own thoughts.

13402 to be exactly your OWN thoughts 

yeah, of course.

Just pick any random number that seems possible, and self-servingly bullish of course.     

Just for you, Mic, I hope that BTC prices surpass $24,777 just so that you have to pay out four bets.

[JayJuanGee]

Is the market really healthy again? https://twitter.com/BitMEXResearch/status/1046676599406505985

What does the information mean exactly?  The fund raisers have cashed out sufficiently to have been able to break even, at least? 

Also, is there a connection of the information to bitcoin? 

For example, if Ethereum and various ICOs are sufficiently done crashing, then they are less likely to bring bitcoin down? 

Sometimes, also, good news will have the opposite effect?

[goldkingcoiner]

What kind of beverages are we drinking tonight, gentlemen? I am currently sipping on a lovely bordeau rouge 2012. I don't know about you guys but I am into wine this month.
Beer was last month, when I drank only chiemseer hell, bavarian beer. Refined tastes for refined people.

[infofront]

Just bought s'moar. Dollar cost averaging on its way, especially on the way down as someone else has drilled into our collective heads  

I hope my timing is lucky this time around. Not so much for the small advantage of buying slightly cheaper, but as a good start for a year final bull run in bitcoin's best tradition. Every moon climb begins by tackling a hill.

I've had some laddered buy orders sitting around for months going from $5,200 to $3,800, or something like that. Tempted to cancel those and just buy in around current levels, as bull season has begun. I'll likely buy in higher if I see confirmation that the bear trend is over.

[JayJuanGee]

Rly? Where is Russia? Maybe this is Data only from Google. In Russia not only Google but Yandex also

Where is Korea and Japan?

This is weird statistics at least..

Yes... and per capita might be helpful to show side by side, too.

[El duderino_]

I'm curious to find out if the end-of-year rally will take us to $10.000.

Sure as hell hope so, I’m predicting us to end 2018 on around $12,000. This prediction is based on absolutely nothing except my own thoughts.

13402 to be exactly your OWN thoughts 

yeah, of course.

Just pick any random number that seems possible, and self-servingly bullish of course.     

Just for you, Mic, I hope that BTC prices surpass $24,777 just so that you have to pay out four bets.

I do believe there are more reasons why you would wanna see BTC surpasses 24,777 and all of those reasons are in your personal intrests  

And Maybe you had to put in a random NR, i think your Some kind of lucky Guy  

Offcourse i wouldn’t mind @ all if iTs passing 24,777
(NEWyear night i have to pay for 2 lists no matter what cause they just finish @that date ....)

[El duderino_]

Just bought s'moar. Dollar cost averaging on its way, especially on the way down as someone else has drilled into our collective heads  

I hope my timing is lucky this time around. Not so much for the small advantage of buying slightly cheaper, but as a good start for a year final bull run in bitcoin's best tradition. Every moon climb begins by tackling a hill.

I've had some laddered buy orders sitting around for months going from $5,200 to $3,800, or something like that. Tempted to cancel those and just buy in around current levels, as bull season has begun. I'll likely buy in higher if I see confirmation that the bear trend is over.

Just buy already if your attend to HODL it .... then a few bucks up or down doesn’t matter @all.... just buy and when fiat availble for crypto buy more .....
Buy buy buy go NUTS on this cheap coins 

[goldkingcoiner]

What kind of beverages are we drinking tonight, gentlemen? I am currently sipping on a lovely bordeau rouge 2012.

 Bitch. We have an entire wine-fridge filled with the finest Napa Valley vintages available, over the last few decades.

 Rick and I are waiting for Bitcorn to hit above $20k/USD, before I can permanently graduate from beer to cabernet sauvignons.

 Gotta learn to live within your limits, or you're gonna have a bad time.

 Patience, my friend.

 750ml of Screaming Eagle per day sounds like pure Heaven to me.

You're right, friend. Patience is the ultimate key to success. However I do think one should treat themself to a nice 50 € bottle every now and then. Although it does pain me to spend money on anything but Bitcain... But how else does one keep his spirits up during the dark times of bear dominance?