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

[dandannn]

Whats the best source to learn about the lightning network?

Preferably one that is not too technical..plz

http://lightning.network/how-it-works/

https://medium.com/@stadicus/noobs-guide-to-%EF%B8%8F-lightning%EF%B8%8F-on-a-raspberry-pi-f0ab7525586e

https://bitcointalk.org/index.php?topic=4638321.280

And if you want to take it a step further:

https://github.com/rootzoll/raspiblitz

[1714198072]

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[mindrust]

You must be straight retarded  if you are thinking that gold or silver coins will be used as a currency in the future.

It is not even worth explaining why it is impossible. My head just hurts while reading that dipshit's post. I wonder Why are people still quoting roach the retard?

Unless we invent the time machine and go back to 1800's or before, gold aint coming back. You can try to go back to 1800's by killing more than half of the earth population and the internet technology, banking system etc and only then people may use gold as a currency.

Gold doesn't make you wealthy, it keeps you wealthy. Do you understand that?

Except I am not talking about wealth at all. I am talking about gold being a currency. Do you understand that?

I hold gold. I like it as a store of wealth and I also know we won't be using gold as a currency, why? Because you can't send the damn thing to somebody who lives in a different country (or city). Can you? Yeah FEDEX will work just fine.

Side note: Nowadays, even gold's store of value feature is in question. You'll never know when will somebody come up with a great tech to extract gold from the sea water or mine gold on other planets.

Gold and seashells has a lot in common. The difference is you can pick seashells up without any effort while you need to work a lot harder to get tiny amounts of gold. Eventually somebody is going to find a way to get it much easier and gonna scam everybody.

[Biodom]

There are less than 150,000 addresses with more than 10 BTC.

I think there’s probably less than 15,000 people in the world that have more than 10 BTC.

15K sounds like a lower bound.

I would say that 30-50K is more likely (each having 3-5 wallets of at least 10BTC).
Probably not more than 5K individuals with more than 100 BTC and not more than 500-800 with more than 1000BTC
https://medium.com/@BambouClub/are-you-in-the-bitcoin-1-a-new-model-of-the-distribution-of-bitcoin-wealth-6adb0d4a6a95

I am actually struck by the fact that there are only about 5K or so with more than 100BTC (16K wallets, but each person most likely has a few, so 3 seems to be a reasonable denominator).
In comparison, there are about 150K individuals with fiat wealth above $50mil (UHNW).
Source: credit suisse global wealth report (2018)

You misinterpret the Medium article you cite. It predicted 7500 people with a minimum of 215btc and 25000 wih at least 89btc.

Thanks for the link, interesting, although I expect some serious reshuffling since sep 2017 to have occurred.

Yes, 215BTC/7500people and 89BTC/25000people are the numbers that he projects, which could be correct or not since distribution of addresses between owners is not 100% clear.
Above was just my guesstimate based only on account numbers.
In the end, the number of individuals with 100BTC (5k) that I guesstimated is not that different from the authors' (less than 17.5 K, but more than 7K).
Perhaps the authors' numbers are more precise (depending on whether his guess on account vs individual proportion is correct).

The main point of my comment still stands: there are much less (by at least an order) 100BTC owners vs $50mil (UHNW fiat wealth) owners.

[d_eddie]

No pumperino?
But but... the shakes... 

[goldkingcoiner]

Dumperino to ~3771 now official. We have broken past the 3923 support. Man am I glad I got out at 4052. If this stretches out we got a cup and handle situation. I am in at ~3771



Really hope my cup^3 hypothesis actually comes true. But I wouldn't bet on it. I say we bump into the ~4410 resistance and down again from there.

[jbreher]

There are less than 150,000 addresses with more than 10 BTC.

I think there’s probably less than 15,000 people in the world that have more than 10 BTC.

So 135,000 of those holders of more than 10 BTC are exchanges, trusts, corporations, and the like? Seems like an unlikely ratio to me.

[d_eddie]

Dumperino to ~3771 now official. We have broken past the 3923 support. Man am I glad I got out at 4052. If this stretches out we got a cup and handle situation.

I'm glad you got out, too. Such strokes of luck on the average are better harvested when fresh, without trying to milk them to the last drop. It was one of my first and most expensive lessons.

[bitserve]

FRESH FROM WANGA/MASTERLUC TELEGRAM

I still think that bitcoin can bring up to 2k in this regard. But it should quickly and cheerfully bounce, if it is. So I advise you to cook bucks. If you have them of course))

In general, weekly ma 200 (about $ 3000) cannot be broken through weekly closure. By this, I think that everything below 3k will bounce cheerfully.

[xhomerx10]

I have to work the next few days on 12 hour nights so I'm spreading the holiday cheer early in case I don't have time later.



edit:

 and Happy New Year too

[serveria.com]

Pump to 4.4 -4.6 incoming. 

And don't give a thing about Masterluc's bs. Don't remember when this guy was right last time? I fear he has become a paid shill used by the bearwhales.

[jbreher]

If BCH/BSV is being pumped, it means that BTC is being sold to buy this cancer. When those will be dumped, they will be traded for BTC (most likely).

Assertion does not withstand the merest scrutiny. For while ABC is up 40+% and SV is up 45+% on the 24 hour, BTC is also up ~4.5%. If the ABC and SV prices are driven solely by BTC dumping, then why is BTC simultaneously up?

[jbreher]

Facebook is going to create their own stable coin for whatsapp, targeting the remittance market.

Western Union's response: "We already operate with 130 currencies. If one day we feel like it is the right strategy to introduce cryptocurrencies to our platform, technology-wise, it's just one more currency. I think cryptocurrencies may become one more option of currency or assets around the globe to be exchanged between people and businesses. If that happens, we would be ready to launch."

I don't know whether they are just putting on a brave public face, or if they truly don't get it. Then end game is where nobody need exchange the in-flight currency to local currency.

[jbreher]

Lightning is for low, micro to sub-Satoshi payments.

I've already seen this a couple of times, how can you go sub-satoshi?  

You can go sub-satoshi because Lightning is something other than Bitcoin.

[El duderino_]

I have to work the next few days on 12 hour nights so I'm spreading the holiday cheer early in case I don't have time later.

Thats real Nice right there

Enjoy your x-mass, hollidays when your able of enjoying them
Wish you already the best for next year and years
Comrade XhomerX

[El duderino_]

@BTC

Its weekend ..... other direction THX in advance

Have a good weekend Micg.

[vapourminer]

There are less than 150,000 addresses with more than 10 BTC.

I think there’s probably less than 15,000 people in the world that have more than 10 BTC.

many folks keep btc split up between several wallets. and any particular wallet can have many addys.. change addys and such. so a lot more people than that 150,000 number may have more than 10 btc, just not all in one address or wallet.

[BTCMILLIONAIRE]

[...] super rare event that I use cash at all.

It is unfortunate how little financial privacy is valued these days, which is (currently) Bitcoin's Achilles heel as well. Very much encourage any privacy improvements in layer two solutions and side chains.

I don't need privacy when shopping for groceries, at least for as long as there isn't a service that offers money for your data (e.g. at point of sale or while browsing the web). When I need privacy I make sure I have it.

[BTCMILLIONAIRE]

$120 is more than enough for a network specially disigned for micropayments.

Main chain will be great for medium to large transactions.

Lightning is for low, micro to sub-Satoshi payments.

I've already seen this a couple of times, how can you go sub-satoshi? 

When you close the channel and go back to the main chain, you're forced to round to whole satoshis of course, but while the funds are in the LN, accounting is in subunits (might be millisatoshis if I'm not wrong).

Round up or down? Any way this could create non-existent corn? (Probably not, but sure sounds like it and I'd like to hear why it is not so.)

[El duderino_]

@BTC

Its weekend ..... other direction THX in advance

Have a good weekend Micg.

I see what we’ve got here, FAIL to communicate..... you just hold on daisey, i got something for you.... let me introduce myself i’m MICG b***h and i’m gonna increase on this DIP

Epic movie scène

Must watch “funny scène in halloween”

https://m.youtube.com/watch?v=rVhCCJW_bg0&t=48s

[jojo69]

I don't need privacy when shopping for groceries,

oh but you might

I can imagine any number of scenarios where a hostile lawyer being able to enter one's historical receipts for beer might be unwelcome.