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Question: Among your family and friends, who owns Bitcoin?
Myself only - 44 (37%)
Myself and my spouse/partner - 13 (10.9%)
My family - 12 (10.1%)
Close friends - 16 (13.4%)
All of the above - 34 (28.6%)
Total Voters: 119

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25295159 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (157 posts by 13 users deleted.)
El duderino_
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December 21, 2019, 10:50:20 PM

via Imgflip Meme Generator

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Go Go Go Ricko Verhoeven, beat him again.... hope no more rematches anymore Roll Eyes
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1621367923
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dragonvslinux
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December 21, 2019, 10:51:51 PM


Lot's of shitcoins in that sleigh, too... might cause more disloyalty....

Rudolph might be a bit pissed off, too; having to pull your fat ass around (along with the shitcoins) without any help.

Shitcoin moon is coming, to the detriment of BTC no doubt, holding it back like a kid on a leash.
But it will flow back into Bitcoin eventually, you can use it as an opportunity to stack sats  Wink
JayJuanGee
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How much alt coin diversification is needed? 0%?


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December 21, 2019, 10:59:11 PM
Merited by LUCKMCFLY (1)

Shitcoin moon is coming, to the detriment of BTC no doubt, holding it back like a kid on a leash.
But it will flow back into Bitcoin eventually, you can use it as an opportunity to stack sats  Wink

It is probably not healthy to consider shitcoinery as a zero sum game.  There is all kinds of symbiotic dynamics going on, both good and bad, and even if we might spend a lot of time, bashing on shitcoins (that they certainly deserve such bashing above and beyond), there remains a certain amount of descriptive reality there in the sense that "it is what it is," and bitcoin likely gives few fucks about the shitcoins, and surely sometimes will benefit from them or have some image distractions, but what can you really do about dumb in the world?  Scammers are going to take advantage of dumb to as much of an extent as they can, but sooner or later, like you mentioned, the diverted value will flow back into bitcoin. 

There is ONLY so much that can be done regarding how people are going to be mislead into various shitcoins and the process likely just has to play out, while, at the same time, we can continue to call a spade a spade and to denigrate shitcoins in various ways along the way, just like we denigrate roach for being a dumbass, but it is not necessarily going to stop him from being a dumbass, including some other dumbasses who he lures into believing that gold is the future.. blah blah blah.
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December 22, 2019, 12:30:44 AM

I am curious about this: in a scenario where btc is 100K, how the on-chain fees would look like: $1, $10 or $100? Some are predicting $100.
Presumably, high on-chain fees would move many tx to LN, but i am specifically interested in on-chain fees.
Theoretically, if btc is 100K and you transfer just 0.1BTC, then even $10 fee (which is about 200X current fee) is only 0.1% of the tx value.
Raise the fee to $100 and it is 1% which is getting into vicinity of what we call high fees (like 3% paypal fee or similar credit card fees).

The point I am trying to make is that with $10-100 fees, low value tx (below $1000-10000) would be squeezed and hopefully directed toward LN.
In general, at some point I would suggest to consolidate smaller wallets while the fees are still low. BTW, today 2sats/byte does the job fast, no need to pay higher.
HairyMaclairy
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December 22, 2019, 12:36:07 AM
Merited by nutildah (1)

Some shots I took from the plane on my most recent flight a weeks back. 

The white stuff is bushfire smoke.  Its like this for most of the New South Wales coast. 








Hueristic
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December 22, 2019, 12:53:31 AM

Damn planets burning down.
Biodom
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December 22, 2019, 12:58:09 AM

The question is: can we stop it (environmental degradation, etc etc) or are we already on the path that will lead somewhere with less number of people on the planet via all possible negative scenarios. Where I live, the city keeps getting flooded plus getting hit by major hurricanes. People still tend to be optimistic and rebuilt, but it might not be sustainable going forward.
As a result, RE is stagnating a bit with people staying put.
Hueristic
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December 22, 2019, 01:22:18 AM

The question is: can we stop it (environmental degradation, etc etc) or are we already on the path that will lead somewhere with less number of people on the planet via all possible negative scenarios. Where I live, the city keeps getting flooded plus getting hit by major hurricanes. People still tend to be optimistic and rebuilt, but it might not be sustainable going forward.
As a result, RE is stagnating a bit with people staying put.

We need to learn how to roll with the punches, continually rebuilding in areas that constantly get swatted is down right stupid and if the Government didn't keep footing the bill then people wouldn't stay in those places. Give them the funds to move not to rebuild, theres a reason places are called shit like Tornado alley!
smartcomet
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December 22, 2019, 01:24:19 AM

https://www.500headlinesaboutbitcoin.com/
Quote
...
10 Bitcoin might still be in its 56k modem days. But broadband is closer than you think.
...
44 Bitcoin is half as old as email was before everyone had it. Clock’s ticking.
..
50 Bitcoin and Wikipedia are more alike than you think. And you love Wikipedia.
...
63 The future of technology. The future of money. The future of freedom.
...
Biodom
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December 22, 2019, 02:13:26 AM

The question is: can we stop it (environmental degradation, etc etc) or are we already on the path that will lead somewhere with less number of people on the planet via all possible negative scenarios. Where I live, the city keeps getting flooded plus getting hit by major hurricanes. People still tend to be optimistic and rebuilt, but it might not be sustainable going forward.
As a result, RE is stagnating a bit with people staying put.

We need to learn how to roll with the punches, continually rebuilding in areas that constantly get swatted is down right stupid and if the Government didn't keep footing the bill then people wouldn't stay in those places. Give them the funds to move not to rebuild, theres a reason places are called shit like Tornado alley!

It's hard to do in areas where things burned down as you can't say: "it will always burn".
flooding-I tend to agree, but then we would have much much less space to live.
Somehow, dutch fixed the flooding problem. It's just the matter of proper engineering.
If such endeavor is expensive, then local gov has to do something.

BTW, WTF is with btctalk posting? It takes like 2 min for a post (at least the first one) to get through.
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December 22, 2019, 02:42:16 AM
Last edit: December 22, 2019, 05:30:13 AM by Hueristic

It's hard to do in areas where things burned down as you can't say: "it will always burn".

Nothing worthy is easy. Wink

But afa burn alot of that is self inflicted from years of stopping natural fires so basically we need to find out how to balance the amounts of material available to the eventual fires.

Quote
flooding-I tend to agree, but then we would have much much less space to live.
Somehow, dutch fixed the flooding problem. It's just the matter of proper engineering.
If such endeavor is expensive, then local gov has to do something.

There are far too many resources wasted on fighting a losing battle with rising global water levels.



Quote
BTW, WTF is with btctalk posting? It takes like 2 min for a post (at least the first one) to get through.

Yeah, I keep thinking my post isn't going to make it. Smiley
nutildah
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December 22, 2019, 02:48:35 AM

Maybe Craig will just settle for all his patents, whatever nChain is worth when fully dissolved, and a lifetime of employment as butler for the Kleimans. That would be fair.

Fair as long as Craig does not have any abilities to carry out future scams/frauds.

He could still carry out scams in his capacity as butler... Pocketing loose change and such. Assuredly his internet and media access privileges will be revoked as part of the deal.
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December 22, 2019, 03:30:46 AM


(09:49:01 PM)
all you can eat oysters

My thought exactly!

(First reply, 10 minutes response time. Classic V8.)
LUCKMCFLY
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December 22, 2019, 03:35:12 AM

A very interesting article about Ransomware, the famous "Ryuk" has caused a lot of profits for hackers, his rise in the Bitcoin era has been huge. The impact has been profound, however this type of news is relevant for highlighting its Bitcoin based rewards.

Quote
“Ransomware has helped put bitcoin in the news and we know that the price of bitcoin goes up whenever it is in the news,” stated De Montfort University’s Cartwright  “So, ransomware also partly drives the price of bitcoin.”

Ryuk has hit more than 500 faculties, now security specialists expect many more attacks in 2020.

Source: https://laptopcapri.com/how-ransomware-exploded-in-the-age-of-bitcoin/
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December 22, 2019, 03:47:53 AM
Merited by Icygreen (1)

Hairy takes a pic
half a window enveloped
the bush is burning



Price flat, volume null
he pokes with a stick
but the corn feigns sleep



#haiku
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December 22, 2019, 04:48:15 AM

Some shots I took from the plane on my most recent flight a weeks back. 

The white stuff is bushfire smoke.  Its like this for most of the New South Wales coast. 







SA isn't much better at the moment. People not far from where I live evacuated from homes and lost them in fires... sad stuff Sad
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December 22, 2019, 04:51:09 AM

I am curious about this: in a scenario where btc is 100K, how the on-chain fees would look like: $1, $10 or $100? Some are predicting $100.
Presumably, high on-chain fees would move many tx to LN, but i am specifically interested in on-chain fees.
Theoretically, if btc is 100K and you transfer just 0.1BTC, then even $10 fee (which is about 200X current fee) is only 0.1% of the tx value.
Raise the fee to $100 and it is 1% which is getting into vicinity of what we call high fees (like 3% paypal fee or similar credit card fees).

The point I am trying to make is that with $10-100 fees, low value tx (below $1000-10000) would be squeezed and hopefully directed toward LN.
In general, at some point I would suggest to consolidate smaller wallets while the fees are still low. BTW, today 2sats/byte does the job fast, no need to pay higher.

We also know that there is a range, too and there is fluctuation of busy times and less busy times.  Yeah, in late 2017/early 2018 the network was being attacked, and if you wanted transactions to go through right away, you may have needed to spend $20 to $100 in fees during that time.... you could spend a lot lower fees, but it might take a few days.. and you could even spend lower fees and it would have ended up taking a month or two if you were really cheap and you sent low fee transactions (close to free) in the beginning of December 2017(during the worst of the period), those low fee transactions might not have cleared until the end of January.  There were middle ground amounts, too, and there were periods in which it appeared the mempool was clearing up, but the mem pool did not really clear up until the end of January 2018 when the spam attack stopped.

It is not easy to speculate exactly what are going to be the various options available come $100k bitcoins, and if $100k bitcoins are going to be a sustained price at sometime within the next 2-5 years.  But, anyhow, if you want transactions to go through faster, you pay higher fees, and 1% does not seem to be unreasonable for what you are getting, which is way the fuck more than paypal or credit card fees, like you mentioned), depending on what you are trying to accomplish, especially when you have a bank in your pocket and all of that actual meaningful potential power.  On chain and off chain, and options are still going to be something that is hard to speculate about exactly, because some options might become more feasible in the future too, whether lightning network or some other yet unknown option(s).
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December 22, 2019, 05:00:53 AM

Yeah I hear SA is bad. So many firies hurt down there.   We lost Balmoral overnight.  

https://www.news.com.au/national/breaking-news/not-much-left-in-balmoral-after-fires/news-story/5199b18c24a3aa694261e311257cceba
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December 22, 2019, 05:15:24 AM

Fascinating how easily we go from "it's not happening so it doesn't matter" to "it's too late so it doesn't matter".

Eerily similar to how conspiracies are insanely outrageous until suddenly humdrum and un-newsworthy.

Some people seem to be stubbornly determined to avoid their share of responsibility.
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December 22, 2019, 05:31:12 AM

Watching the first Witcher episode and I'm pretty surprised its damn good.
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