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

[Paashaas]

We all can create our own shitcoin CLOSE to the original version.

Not close, an exact replica.  Thank you for reminding us all why people calling imaginary digital shitcoins a "store of value" are mentally insane.  Technically, one would say the value of the imaginary coin is derived from the utility of the network since there is no real commodity basis, but the utility of the network can be replicated infinitely, so the scarcity argument doesn't even exist.  In that context, Bitcoin is simply backed by shills/scammers.

Nice piece of cheap trolling realrOach, going to give you a merrit for that.

[LFC_Bitcoin]

^
WoW      

What an honour to have that Nr attached to me  

Incredible achievement really mic, especially considering you only got airdropped 200 Merit or was it 100?
Older accounts like myself got airdropped 1000 Merit so that means you’ve earned over 1800 yourself.

Congrats mate, you deserve it.

You beat me to 2000 Merit & I had an 800+ head start

THX once again you have had a big % in those merits

Not that many man, 80 or 90 over 18 months. You’ve earnt a fuck load, it’s cool.

[Last of the V8s]

Is there any website that tracks bitcoin ATH in various currencies?

https://www.coingecko.com/en?view=all_time_high kinda

tradingview has some currencies eg btcthb

edit: https://www.xe.com/currencycharts/?from=CDF&to=XBT&view=5Y notbad

[realr0ach]

We don’t need LN to scale.  

Just use centralized solutions like Liquid to scale for low security transactions.

I calculated even with 8 MB blocks, a transaction would need to be something like $10k dollars to be viable on-chain if Bitcoin was used as the backbone of the financial system for big ticket items like houses, cars, boats, etc.  Bitcoin has virtually no use at 1 MB on a global scale except to be something like an intrabank SDR.  Anonymint's claims of how high transaction fees would go are vastly higher than mine, and I don't think they're correct, so I didn't mention them. 

Since Lightning Network is NOT a valid scaling solution because all it does is recreate the already existing banking system where network topology will force all transactions to be routed through a bank - and as the only Craig Wright fan on earth Jbreher points out, 1 MB blocks are not even large enough to onboard people into LN in the first place - absolutely nothing about bitcoin scaling or decentralization was EVER solved.  How are people spamming these idiotic "Bitcoin is guaranteed to go to $100k-$1million each" constant drive by shillings when there are no decentralization and no scaling fundamentals?

[Globb0]

How long can Roger Ver hold on to Bitcoin.com.

Hmm so that's their next plan is it

[HairyMaclairy]

These papers are not for you to consume, all of his actions can be easily explained if you think of him as a man preparing a case for litigation. He's just preparing documents that he'll be submitting to court. Probably will try to trademark "Bitcoin" next.

Then why the sensational coingeek article? It was a well-timed pump job / maneuver backed by a well-written propaganda piece. It ultimately proves nothing, other than there is no apparent correlation between somebody's ability to invest and intelligence.

Fools and their money are swiftly parted.  Fucks I give not.

[HairyMaclairy]

That's a good point. Technically you're correct about the blocksize limit not being part of the protocol, of course.
Though if everyone is running a client with a different blocksize, the network will become a clusterfuck.

No. The miners -- or rather 51% the largest group of them -- would then determine the max block size. No clusterfuck. Longest chain rules.

FTFY

Satoshi knew that once he slipped that blocksize limit into the core client, it would be there forever, and become the de facto standard in all bitcoin software implementations. That's why Garzik and the others were opposed to it at the time. Satoshi said that it was temporary, but he knew enough about game theory to realize 1MB blocks would become a Schelling Point within the bitcoin network if it was left in the core client long enough.

That's simply not true. You're claiming to know the mind of Satoshi in direct opposition with his public statements.

https://bitcointalk.org/index.php?topic=1347.msg15139#msg15139

Satoshi is dead.  I don’t give a fuck what he intended anymore.

[fillippone]

That's a good point. Technically you're correct about the blocksize limit not being part of the protocol, of course.
Though if everyone is running a client with a different blocksize, the network will become a clusterfuck.

No. The miners -- or rather 51% the largest group of them -- would then determine the max block size. No clusterfuck. Longest chain rules.

FTFY

Nodes set the rules, not miners.
If the majority of miners mine blocks against consensus rules, as defined by nodes, nothing happens, as mined block, even if the longest chain is produced, are not relayed trough the network as rejected by the nodes.

[kronos123]

The entire Bitcoin network is constantly growing and evolving, from LN to transactions, from derivatives to options ..... everything contributes to the spread of the King

https://diar.co/volume-3-issue-15/#2

[LFC_Bitcoin]

Out of interest does anybody (except jbreher) still own any BCH or SV?

I transferred all of my BCH into Bitcoin & spent it living like a king for just over 12 months.
(I don’t sell any of the Bitcoin I’ve bought myself but give me a break for wanting to enjoy the fruits of my labour here).

Obviously I got 0 SV because I had 0 BCH at the time of their shitfiri.

[d_eddie]

I don't like it today. Just my SOMA gut, but the coming weekend might be little fun.

[HairyMaclairy]

Out of interest does anybody (except jbreher) still own any BCH or SV?

I transferred all of my BCH into Bitcoin & spent it living like a king for just over 12 months.
(I don’t sell any of the Bitcoin I’ve bought myself but give me a break for wanting to enjoy the fruits of my labour here).

Obviously I got 0 SV because I had 0 BCH at the time of their shitfiri.

Couldn’t stand that shit. Dumped it for BTC immediately.  I’d rather be a no-coiner than have Roger control my coins.  Never got any SV as a result but definitely got the better end of the deal.

[HairyMaclairy]

Oops

[gentlemand]

Out of interest does anybody (except jbreher) still own any BCH or SV?

Yes. Still got plenty of both. I spend it every now and then.

They're prime pump fodder for the foreseeable future no matter how poo they are. If there's to be a monster bubble I'll offload the majority then as they'll reach truly insulting prices no matter what.

[LFC_Bitcoin]

Out of interest does anybody (except jbreher) still own any BCH or SV?

I transferred all of my BCH into Bitcoin & spent it living like a king for just over 12 months.
(I don’t sell any of the Bitcoin I’ve bought myself but give me a break for wanting to enjoy the fruits of my labour here).

Obviously I got 0 SV because I had 0 BCH at the time of their shitfiri.

Couldn’t stand that shit. Dumped it for BTC immediately.  I’d rather be a no-coiner than have Roger control my coins.  Never got any SV as a result but definitely got the better end of the deal.

Didn’t want to move my bitcoin’s out of cold storage to claim BCH for quite a while. It actually worked out better for me in the end as I got $1,200 per BCH.

[LFC_Bitcoin]

Out of interest does anybody (except jbreher) still own any BCH or SV?

Yes. Still got plenty of both. I spend it every now and then.

They're prime pump fodder for the foreseeable future no matter how poo they are. If there's to be a monster bubble I'll offload the majority then as they'll reach truly insulting prices no matter what.

I think they’re both going to double digits or worse eventually.

[gentlemand]

I think they’re both going to double digits or worse eventually.

I think it's easy to underestimate the greed and literal mindedness out there.

They're both called 'bitcoin' and they're both 'cheaper'. That's going to give them many years of life yet. I'll be out of it when their respective prices make me shake my head in wonder.

I'm really amazed how many alts are still a thing.

[HairyMaclairy]

Individual alts are almost impossible to kill. I am resigned to the fact that we will always be surrounded by a spectrum of alts. They just won’t have any value once the next big thing comes along. 

[P_Shep]

Out of interest does anybody (except jbreher) still own any BCH or SV?

I transferred all of my BCH into Bitcoin & spent it living like a king for just over 12 months.
(I don’t sell any of the Bitcoin I’ve bought myself but give me a break for wanting to enjoy the fruits of my labour here).

Obviously I got 0 SV because I had 0 BCH at the time of their shitfiri.

To my shame I do.
0.00000244 of each sitting on my bitfinex account

[realr0ach]

This dumb "stock to flow" poster guy Anonymint & Infofront are citing looks like he's lying about silver and gold to try and make Bitcoin look better.  There's more like 100,000 tons of silver around, NOT 500,000 as he claims.  So silver stock to flow is more like 4 instead of 22.  Although I didn't check his "flow" number, so even that might be off too.  His gold stock number is also WAY too high.  In other words, probably everything in that picture is incorrect.



It's also not even really possible to have valid flow figures in the first place for numerous reasons I won't go into.  Do you include the ETFs whose only reason for existing is to suppress price?  For all intents and purposes, someone trading a paper receipt of ownership for silver around is the same thing as physical flow.  The only purpose of the flow metric is to signify transfer of ownership, and that's what's occuring (doesn't matter if the ETF vaults are empty or gold plated tungsten).  He probably leaves all of that out solely to try and make Bitcoin look better.