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

[jbreher]

Still unanswered: How LN is going to help when Layer 1 is already clogged to the point of uselessness.

We will cross that bridge when we get there.  

If this price pump continues, we could get there next week. Unfortunately, there is no solution on the horizon under discussion.

You are fucking ridiculous on this point, jbreher.  Dumbass BIG BLOCKERS have been acting chicken little on this topic since at least late 2015, and they have been wrong, wrong wrong.. except to the extent to which they have engaged in some spam attacks to attempt to make it look like their wrong chicken little speculations were coming true.

And, get the fuck out of here with your exaggeration that there is no plan in BTC.. because with segwit and other tweaks including lightning network, batching and some other technical mumbo jumbo stuff, BTC transactions are getting processed... and fees also will adjust to help to channel and incentivize transactions too...

so fuck off in your attempting to act like there is neither progress in bitcoin or that there is some kind of supposed emergency situation in bitcoin that justifies a block increase - which is still not necessary, even though you and your dumb BIG blocker buddies keep trying to present such nonsense solutions to increase the block size limits as if they were "obvious solutions," and they are not.. they are just stupid.. and counter to any necessary solution.. you want to break bitcoin like you and your buddies broke your impotent bcash(es) variants?

You claim to be a bitcoiner, but I have to question you with your stubborn continued persistence spouting out such repetitive nonsense that has been debunked over and over and over in the past 3.5 years.  There is no there there.. so focus your lil selfie.  

Once the blocks are full, no additional people can open a LN channel. Nobody can close an LN channel. (Not without out-paying those txs already waiting to be built into a block).

you are speculating about something that has never happened.. Even in December 2017/January 2018 (when your bitmain buddies and Roger Ver had enough money to engage in their spam attack), transactions still went through, as long as higher fees were paid... so if the fees might go up during such clogging periods.   By the way, funny how bitmain is now broke.. ver might not be doing so well.. and maybe still hoping for calvin ayere to keep haning out with you other social pariahs.

Nobody can post evidence of stolen channel funds as a result of counterparty posting an earlier channel state. Nobody can get BTC into or out of exchanges. ...

Let's see how it plays out... sounds like you are making shit up, for the moment.. so let's see if it becomes a BIGGER issue that is does not get resolved... Lots of smart people working and submitting ideas in bitcoin core, so they are likely to continue figuring out a variety of things as they already have been with the passage of time.. And maybe you should be discussing these technical matters in another thread, anyhow?  you fuck with attempts at technical mumbo jumbo, here.

All y'all are hanging your hopes on a promise that has no chance to deliver its stated benefits.

You and your BIG BLOCKER nutjob buddies have already proven yourselves to be inclined towards exaggerations about supposed dire outcomes, and likely going to happen again... with exaggerated points like you are making here.

Sure, LN will have important use cases. But at the cost of crippling the base layer? Collective delusion.

Of course, LN will have important use cases.. at least you recognize that aspect.. and if you think that there some kind of crippling then get the fuck out of here.  Don't use lightning then nor build upon it, and go over to your shitcoin (I mean various bcashes) projects to whine about how horrible bitcoin is, while bitcoin is going to leave those bcashes crappies in the dust in terms of innovations, development, adoption and even ongoing price performance..

Jbreher should be joining his BCHABC - BTC-SV friends at r/btc. He can shit on Segwit/LN and Core dev. 24/7.

He will be loved over there  but here he's  just a moron.

And in charges Paashaas with yet another attack fully devoid of any substantive rebuttal to any points made.

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[Pamoldar]

Billionaire Brock Pierce takes out first-ever Bitcoin-backed mortgage to buy a $1.2m home in Amsterdam.

https://bitcoinist.com/billionaire-brock-pierce-takes-out-first-ever-bitcoin-backed-mortgage/

The guy's a billionaire and he's taking a mortgage?

 Shhhh!  He's causing more fiat to be printed thereby increasing our Bitcoin value.  Don't tell him about the compound interest!

It is cheaper to take a mortage than paying the full price directly, even for a billionaire

 Sure but Brock Pierce was going to give away a billion dollars last year.  What does he care about cheaper?

I think he simply doesn't want to sell his bitcoins.

[Toxic2040]

don't put me on the lower ranges when their are prices on the PIC

who is that second one on the low with no HAT?
and the BTCpenny HAT, good to see it here forgot to put it in my collection

You are the rock upon which we stand Goose. Leading fire teams from the trenches..a place of high honor...do not fret young sir. The image you are referring to is a top secret prototype demonstration model never before seen in actual combat. Testing is in progress...please stand by for a sitrep at the fob at the end of operations. Carry on.

xhomerx10 patent application  - international patent pending no. PCT5551212

 Abstract

An eye enhancement device comprising a soft, flexible plastic envelope forming a goggle enclosure contoured to comfortably conform to the angular anterior cranial features of a particular mammalian, non-human animal, such as a cat.  For use with invisible laser cat exercise device per US patent no. 5443036.

[nutildah]

Serious @jbreher, I've never seen somebody be such a vicious asshole and so wrong at the same time. And that's saying a lot for this place.

His whole premise is nobody will use bitcoin because its too crowded. That's just plain fucking stupid.

No, my whole premise is that the number of people who will be able to use BTC is hard-capped by the block size. I've been absolutely clear about this for years now. And you're so blinded by dogma that you can't even read what I am actually typing.

The number of people who will be able to use BTC is hard-capped at a ludicrously low number. Those unable to get in will go elsewhere. If for no other reason, because they have no other choice.

What's the hard cap number you had in mind? I bet you whatever it is, BTC surpasses it. Let's make a gentlemen's wager. What metric do you propose to measure "users"? Active addresses is pretty good. Right now there's approximately 684k active addresses. That number seems to have peaked around 1 million in Dec 2017, so do you agree that's a "cap"? (I wouldn't call it "ludicrously low" btw, but that's just me). I bet you this number surpasses 1 million - and stays there - before the year's end.

https://bitinfocharts.com/comparison/bitcoin-activeaddresses.html

Feel free to offer your own metric. It's too hard to add Lightning Network activity with active addresses, even though its growing by leaps and bounds and is a viable solution to avoid your avidly described apocalypse that you perpetually insist is imminent.

[jbreher]

Billionaire Brock Pierce takes out first-ever Bitcoin-backed mortgage to buy a $1.2m home in Amsterdam.

https://bitcoinist.com/billionaire-brock-pierce-takes-out-first-ever-bitcoin-backed-mortgage/

The guy's a billionaire and he's taking a mortgage?

Saving a couple of percent when you expect your liquid assets to skyrocket actually makes quite a bit of sense.

[micgoossens]

whoa

Am I bottoming for Bob there?

I only see BoB pulling up JJG.....? To stay on board?

or is that just a strategical move ?

[xhomerx10]

Still unanswered: How LN is going to help when Layer 1 is already clogged to the point of uselessness.

We will cross that bridge when we get there.  

If this price pump continues, we could get there next week. Unfortunately, there is no solution on the horizon under discussion.

You are fucking ridiculous on this point, jbreher.  Dumbass BIG BLOCKERS have been acting chicken little on this topic since at least late 2015, and they have been wrong, wrong wrong.. except to the extent to which they have engaged in some spam attacks to attempt to make it look like their wrong chicken little speculations were coming true.

And, get the fuck out of here with your exaggeration that there is no plan in BTC.. because with segwit and other tweaks including lightning network, batching and some other technical mumbo jumbo stuff, BTC transactions are getting processed... and fees also will adjust to help to channel and incentivize transactions too...

so fuck off in your attempting to act like there is neither progress in bitcoin or that there is some kind of supposed emergency situation in bitcoin that justifies a block increase - which is still not necessary, even though you and your dumb BIG blocker buddies keep trying to present such nonsense solutions to increase the block size limits as if they were "obvious solutions," and they are not.. they are just stupid.. and counter to any necessary solution.. you want to break bitcoin like you and your buddies broke your impotent bcash(es) variants?

You claim to be a bitcoiner, but I have to question you with your stubborn continued persistence spouting out such repetitive nonsense that has been debunked over and over and over in the past 3.5 years.  There is no there there.. so focus your lil selfie.  

Once the blocks are full, no additional people can open a LN channel. Nobody can close an LN channel. (Not without out-paying those txs already waiting to be built into a block).

you are speculating about something that has never happened.. Even in December 2017/January 2018 (when your bitmain buddies and Roger Ver had enough money to engage in their spam attack), transactions still went through, as long as higher fees were paid... so if the fees might go up during such clogging periods.   By the way, funny how bitmain is now broke.. ver might not be doing so well.. and maybe still hoping for calvin ayere to keep haning out with you other social pariahs.

Nobody can post evidence of stolen channel funds as a result of counterparty posting an earlier channel state. Nobody can get BTC into or out of exchanges. ...

Let's see how it plays out... sounds like you are making shit up, for the moment.. so let's see if it becomes a BIGGER issue that is does not get resolved... Lots of smart people working and submitting ideas in bitcoin core, so they are likely to continue figuring out a variety of things as they already have been with the passage of time.. And maybe you should be discussing these technical matters in another thread, anyhow?  you fuck with attempts at technical mumbo jumbo, here.

All y'all are hanging your hopes on a promise that has no chance to deliver its stated benefits.

You and your BIG BLOCKER nutjob buddies have already proven yourselves to be inclined towards exaggerations about supposed dire outcomes, and likely going to happen again... with exaggerated points like you are making here.

Sure, LN will have important use cases. But at the cost of crippling the base layer? Collective delusion.

Of course, LN will have important use cases.. at least you recognize that aspect.. and if you think that there some kind of crippling then get the fuck out of here.  Don't use lightning then nor build upon it, and go over to your shitcoin (I mean various bcashes) projects to whine about how horrible bitcoin is, while bitcoin is going to leave those bcashes crappies in the dust in terms of innovations, development, adoption and even ongoing price performance..

Jbreher should be joining his BCHABC - BTC-SV friends at r/btc. He can shit on Segwit/LN and Core dev. 24/7.

He will be loved over there  but here he's  just a moron.

 Jbreher has many good qualities.  I might not agree with his opinion on the direction Bitcoin should or should not take but I still love him.

[jbreher]

Serious @jbreher, I've never seen somebody be such a vicious asshole and so wrong at the same time. And that's saying a lot for this place.

His whole premise is nobody will use bitcoin because its too crowded. That's just plain fucking stupid.

No, my whole premise is that the number of people who will be able to use BTC is hard-capped by the block size. I've been absolutely clear about this for years now. And you're so blinded by dogma that you can't even read what I am actually typing.

The number of people who will be able to use BTC is hard-capped at a ludicrously low number. Those unable to get in will go elsewhere. If for no other reason, because they have no other choice.

What's the hard cap number you had in mind?

It is all driven by the block size, and dependent upon how many txs per day the average user makes. Any way you slice it, on chain tx capacity is limited by the block size. And inability to transact on chain also breaks LN - no opens, closes, or repudiation of stale channel state driven theft.

Daily tx capacity is highly variable upon the nature of that's day's txs, but it is well south of a million. So there's your hard cap.

[xhomerx10]

^See?  A very analytical mind.

[micgoossens]

^^^
I remember me being a bit rude towards him as well, and he always countered me very polite, I (already longer time) massively changed my behavior towards him cause as you say, on BTC everybody can have his own OPINION, I do hate Jbreher's thought but @the same time he does own BTC as well .... so can't be so bad, later on he will regret of not being completely in BTC alone...
But I do remember me acting wrong towards him, common Jbreher go FULL BTC    

[kingcolex]

Billionaire Brock Pierce takes out first-ever Bitcoin-backed mortgage to buy a $1.2m home in Amsterdam.

https://bitcoinist.com/billionaire-brock-pierce-takes-out-first-ever-bitcoin-backed-mortgage/

The guy's a billionaire and he's taking a mortgage?

Maybe he just had a 200 million buy order go through?

[Toxic2040]

whoa

Am I bottoming for Bob there?

You have earned the right to do as you please as you are a pillar of the community sir....however, you might want to check with Rick before any bottom maneuvers are attempted with Bob..just saying.  

[nutildah]

It is all driven by the block size, and dependent upon how many txs per day the average user makes. Any way you slice it, on chain tx capacity is limited by the block size. And inability to transact on chain also breaks LN - no opens, closes, or repudiation of stale channel state driven theft.

OK but that's never happened. Its always "what if" scenarios with you anti-bitcoiners.

Earlier you said "the number of people who will be able to use BTC is hard-capped at a ludicrously low number." This is false on all accounts. If you would have said "the number of transactions per day on chain is hard capped" then I would have been inclined to agree.

Daily tx capacity is highly variable upon the nature of that's day's txs, but it is well south of a million. So there's your hard cap.

I did the math and the tx per day is theoretically 604,800 at the very maximum. We're currently just shy of 400,000. Two key points you never address are:

1. Encouragement of Lightning adoption will help prevent bitcoin from coming close to this, and the technology continues to progress and improve with or without your permission.
2. The block size is limited for a specific reason: having a huge blockchain results in increasing centralization. How many people in this thread run their own node? One? Two? The blockchain is already too unwieldy for your average bitcoin enthusiast to run a full node. Making it even bigger will insure that an even smaller proportion of people will be able to run a node.

Of course BCH and SV don't have this problem, because their blocks remain tiny and unfilled. And that's because nobody uses them.

[AlcoHoDL]

Serious @jbreher, I've never seen somebody be such a vicious asshole and so wrong at the same time. And that's saying a lot for this place.

His whole premise is nobody will use bitcoin because its too crowded. That's just plain fucking stupid.

No, my whole premise is that the number of people who will be able to use BTC is hard-capped by the block size. I've been absolutely clear about this for years now. And you're so blinded by dogma that you can't even read what I am actually typing.

The number of people who will be able to use BTC is hard-capped at a ludicrously low number. Those unable to get in will go elsewhere. If for no other reason, because they have no other choice.

No, jbreher, when this situation arises, and there is a real need for bigger blocks, Bitcoin will scale. But not earlier that that. And certainly not in a way similar to BCH/BSV and their lunatic supporters Wu, Ver and Wright...

[nutildah]

^^^
I remember me being a bit rude towards him as well, and he always countered me very polite, I (already longer time) massively changed my behavior towards him cause as you say, on BTC everybody can have his own OPINION, I do hate Jbreher's thought but @the same time he does own BTC as well .... so can't be so bad, later on he will regret of not being completely in BTC alone...
But I do remember me acting wrong towards him, common Jbreher go FULL BTC    

You know mic I tried being polite to him in turn but then sometimes he's just massively cockish for no good reason and my desire to be polite flies out the window.

[StartupAnalyst]

Bitcoin we love!

He did the right thing. It's very important to find the other half who understands you.

[micgoossens]

^^^
I remember me being a bit rude towards him as well, and he always countered me very polite, I (already longer time) massively changed my behavior towards him cause as you say, on BTC everybody can have his own OPINION, I do hate Jbreher's thought but @the same time he does own BTC as well .... so can't be so bad, later on he will regret of not being completely in BTC alone...
But I do remember me acting wrong towards him, common Jbreher go FULL BTC    

You know mic I tried being polite to him in turn but then sometimes he's just massively cockish for no good reason and my desire to be polite flies out the window.

Sometimes its just useless to try discuss BTC with him, I even don't follow it, but on other stuff not BTC-related then he can be right...
But still its the same with a NO-coiner or with an XRP-enthousiast as with a Bcash-fanatic and so on .... if the discussion is longer as one line of writing, then its to crazy to write a second line and to go on...  they just don't get tired of protecting there flawed projects/scammy coins and so on.
Like with r0ach exactly the same, but sometimes i just like to counter his crazy woman talks
But jbreher is a hard-minded that just makes is own mind for himself, if that is what he wants, yeah then let him be the only WO-member to be fooled.
 

[kingcolex]

Serious @jbreher, I've never seen somebody be such a vicious asshole and so wrong at the same time. And that's saying a lot for this place.

His whole premise is nobody will use bitcoin because its too crowded. That's just plain fucking stupid.

No, my whole premise is that the number of people who will be able to use BTC is hard-capped by the block size. I've been absolutely clear about this for years now. And you're so blinded by dogma that you can't even read what I am actually typing.

The number of people who will be able to use BTC is hard-capped at a ludicrously low number. Those unable to get in will go elsewhere. If for no other reason, because they have no other choice.

No, jbreher, when this situation arises, and there is a real need for bigger blocks, Bitcoin will scale. But not earlier that that. And certainly not in a way similar to BCH/BSV and their lunatic supporters Wu, Ver and Wright...

Wait why would we keep a vulnerability of large block spam attacks that mean to artificially grow the amount of storage needed to run a full node at Bay until absolutely necessary? Let's just make 1gb blocks and allow crazy dust attacks to bloat the chain today!

[Toxic2040]

1h


D

#stronghands  #dyor  #btds

[fillippone]

How many people in this thread run their own node? One? Two?

One!

BTC +LN

This thread doesn't allow signatures, but if you could read mine you would find a guide (in italian,sorry) on how to run a full BTC+ LN node on a Raspberry Pi.