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

[JayJuanGee]

HEY WOers!

I am cleaning out some of my problem channels on my little Raspiblitz node and am going to have some incoming liquidity to aim at new nodes.  I was starting to research what's out there that would likely increase my connectivity, and traffic.  And it's really hard to do... It's hard to see what channels would be USED by the network etc.

Then I had a thought!

Maybe one of you might want some inbound liquidity?  I certainly understand the whole OpSec angle etc... but I personally do not mind if you don't!  Particularly if you are a regular denizen here. 

So let me know...  In about 4 hours I will have as much as 3 million sats to open a channel with maybe more depending on if I close some more weak channels today cooperatively.  But would also be willing to go down to 500k.  My channel size philosophy has changed over the months.  I started out not really caring about size, then I set the min channel size i would accept at 1mm. And it's still there.  But with MPP active there are arguments for smaller channels as well.  But I think I still prefer aiming for 1mm at the lowest.

I am a "BOS" ranked node with a score of 11940298 putting it in the top 200 nodes. I expect that to go up a little bit as I add back the channels. I am well connected.  Well maintained on this little node, and plan to leave it up indefinitely.  I have a much larger node running on server hardware, but I might take that one down as it costs me money.  And if so, I may also migrate sats over to this little one.  But at the moment this little guy has about 2/3rds of a bitcoin liquidity, but heavily skewed to inbound liquidity, so opening a channel to you would help me!

Anyone interested?

PS.  I used to keep my channels fairly balanced.  But this is 1.  A LOT of work and not easy to do, and 2. Futile in my humble opinion.  My node keeps itself fairly well balanced with relatively ample liquidity on both sides.  So I do not care as much if channels get out of "balance" as long as they don't just sit dormant.  in fact some of my most active channels tend to have all the liquidity sitting on one side or the other of the channel and then whoosh over to the other side...

You know that there are some guys in the lightning network threads who are connecting with each other too, right? 

Maybe other threads as well, but this one:
The Lightning Network FAQ

i dunno what happens but i imagine it could be something like this..

dyor

D

stronghands

I like where you put the little elbow.  I surely do not know as much as you about technical things (I still have no idea what the ichimoku clouds are)... but it seems to me that somewhere between 50-56k might be a bit of a fight, but there is a certain point where not that much is holding honeybadger back...

Well getting above $55k-ish puts us into a deadman's zone that goes until about $80k.

I have been considering that the longer that we hang out in sub $55k, then the easier it might be able to pass all the way through deadman's zone but also just spending so much time sub $55k will also help to lessen a need for any kind of down before up.

Surely a variety of scenes could end up playing out, so many of us likely can appreciate not only the amount of time that we ended up spending largely in the lower $30ks and then our subsequent time getting above $43k and staying above $43k for nearly a month now.. and also no real major corrections ever since we started moving up from $29,296 about 6 weeks ago.... ...

So a lot of those price support forces are happening and likely giving some ammunition to potentially get through no man's zone of $55k to $80k once passing into it.

Kind of a big deal indeed. Imagine all the remittances to the homeland slowly crossing over to bitcoin - for people working in the USA, EU, Japan sending their hard earned money to their families in South America, Africa, Asia. Of course, the government offering a tasty incentive (30$ for El Salvador) does help to push adoption, as does the promise of no commission. But even if there were small commissions, WU and other fiat mongerers are going to be toast if this thing takes off.

This thing is in the midst of having already having had taken off, so Western Union (WU) is already toast in terms of their old business model, so if they want to continue to survive as a business they are likely going to have to figure out ways to incorporate bitcoin into their operations.. not an impossible tasks - even if a wee bit less ability to suck off a lot of profits if dealing directly in bitcoin is either zero fees or close to zero fees.. at least in some areas.

Of course, there are learning curve matters, and people sometimes are creatures of habit and will sometimes remain reluctant to learn the most basic of things, so WU could take some advantage of systems already in place and reluctances to learn of some people, but maybe it there is such a difference between gouging and free.. the transition might become more violent than WU is able to transition into and figure out how to retain much if any profitable channels.. the gradual and then suddenly model with suddenly coming up soon.^tm

[1715203837]

1715203837

[cAPSLOCK]

Kind of a big deal indeed. Imagine all the remittances to the homeland slowly crossing over to bitcoin - for people working in the USA, EU, Japan sending their hard earned money to their families in South America, Africa, Asia. Of course, the government offering a tasty incentive (30$ for El Salvador) does help to push adoption, as does the promise of no commission. But even if there were small commissions, WU and other fiat mongerers are going to be toast if this thing takes off.

Jeah... why use bitcoin when you already have Money Transfer??

Well for this reason:

<...>


https://twitter.com/jackmallers/status/1428429890957848591?s=20

Wow, so what? Jack sent 10 USD to a bloke using a couple of apps. WOW!

Obviously, this is a very superficial way of looking at this.
It could be true for someone living in a fully banked world, having access to the banking system, visa and Paypal networks etc.

This reality is not so common in the world, as you might not imagine.

On the other end of the trade, there is a guy in Nigeria.

How does he see this?



https://twitter.com/Afo_Ogunnaike/status/1428447467771662343?s=20

Everything happened without authorisations, commercial relationships, license agreements, stamps, lawyers or other frictions.
Everything happened in a trustless, uncensorable, irreversible way.
Everything with instant settlement and no fees.

Cutting middlemen fees frees resources for the more important things.

Plus there is virtually no delay.  Lightning payments settle instantly.  When have we ever had that?  BOOM money just went from Chicago to Ghana in less than 5 seconds, and it's DONE.  And peer to peer.

This is a Trojan horse, and jack knows it i think.  Because eventually why use the banks on either end at all?  Right now they are doing all this extra work to keep the banks in the loop.

It was like those people who printed out their emails to read them in the 90s.

[sirazimuth]

…..
The WO feels safe. Out there... ohh I don't like it out there. It's scary.

Too right my friend!
What with all those mean cyber bullies out there that offend one’s complex emotion sensibilities.
Why, this gaslighting is shameful behavior indeed.
I want my safe space….

[cAPSLOCK]

You know that there are some guys in the lightning network threads who are connecting with each other too, right? 

Maybe other threads as well, but this one:
The Lightning Network FAQ

Yeah...  But I wanted to offer to my brethren first...  Otherwise I will likely choose more randomly/anonymously.

[ChartBuddy]

Explanation

[JayJuanGee]

You know that there are some guys in the lightning network threads who are connecting with each other too, right? 

Maybe other threads as well, but this one:
The Lightning Network FAQ

Yeah...  But I wanted to offer to my brethren first...  Otherwise I will likely choose more randomly/anonymously.

Fair enough.

[d_eddie]

Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies

https://finance.yahoo.com/news/carbon-negative-bitcoin-etf-launch-112722279.html

It seems like Canadians are after all the ETFs left over by the USA...

[JayJuanGee]

Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies

https://finance.yahoo.com/news/carbon-negative-bitcoin-etf-launch-112722279.html

It seems like Canadians are after all the ETFs left over by the USA...

"carbon negative" mumbo jumbo.. what a bunch of baloney.. I was on the fence whether to send a merit for a bitcoin related link.. but jeez.. I just get negatively affected by the content sometimes..and not really sure what I should say.. it's almost like in the earlier days when we used to get excited about anything mentioning bitcoin, and it took some of us a bit of time to realize that they weren't really saying bitcoin in some of the articles.. they were talking mumbo jumbo talk.. .. such as referring to blockchain or some other gobbledy-gook  ways of dancing around the bitcoin topic.. and sure some people say that anything is good for bitcoin, so I am not completely hostile towards any which way this pig might take me... (thanks again billyjoelallen)

[ChartBuddy]

Explanation

[cAPSLOCK]

Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies

https://finance.yahoo.com/news/carbon-negative-bitcoin-etf-launch-112722279.html

It seems like Canadians are after all the ETFs left over by the USA...

"carbon negative" mumbo jumbo.. what a bunch of baloney.. I was on the fence whether to send a merit for a bitcoin related link.. but jeez.. I just get negatively affected by the content sometimes..and not really sure what I should say.. it's almost like in the earlier days when we used to get excited about anything mentioning bitcoin, and it took some of us a bit of time to realize that they weren't really saying bitcoin in some of the articles.. they were talking mumbo jumbo talk.. .. such as referring to blockchain or some other gobbledy-gook  ways of dancing around the bitcoin topic.. and sure some people say that anything is good for bitcoin, so I am not completely hostile towards any which way this pig might take me... (thanks again billyjoelallen)

I have exactly ZERO problem with this existing.  Just like if you want to buy only organic apples.  Or more apropos if you choose to buy your energy from a provider that buys 100% renewable to offset your use (They market this like you are actually using only renewable energy when in fact you are paying for the production, not the use of renewables... you house uses energy from coal, just like you next door neighbor who does not give a crap).

So if people want to participate in, and fund businesses that produce "GREEN" bitcoin?  Fine.

But the moment the market starts to try to differentiate between UTXOs, or some draconian legislation goes into effect.  Then I have a problem.

Thing is they will learn the hard way like everyone has who tries to attack bitcoin.  But it *could* delay the journey for all of us.

[d_eddie]

Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies

https://finance.yahoo.com/news/carbon-negative-bitcoin-etf-launch-112722279.html

It seems like Canadians are after all the ETFs left over by the USA...

"carbon negative" mumbo jumbo.. what a bunch of baloney..

Yes, it's mostly BS, as cAPSLOCK swiftly pointed out.

I have exactly ZERO problem with this existing.  Just like if you want to buy only organic apples.  Or more apropos if you choose to buy your energy from a provider that buys 100% renewable to offset your use (They market this like you are actually using only renewable energy when in fact you are paying for the production, not the use of renewables... you house uses energy from coal, just like you next door neighbor who does not give a crap).

The way I see it, it's all good for bitcoin.

Hurr durr too much energy used for magic internet money... but wait... it's GREEN!
So now we have green(washed?) bitcoin in the form of an ETF. So go buy that if you want to save the planet.

However, here's what I care about the most about new ETFs: is it physical backed, redeemable in kind (meaning: in corn)?

Physical backing is good for SEC (or equivalent) clearance, because it gives the issuer 100% insurance against wild price swings, which the honey badger is quite fond of. Redeemable in kind is good for OGs and hodlers of both actual corn and ETF shares, because it gives the OG/hodler good insurance against fuckery, and it forces the issuer to buy some moar if anyone wants to redeem a chunk.

Unfortunately, nowhere in that Yahoo Finance article are these essential features mentioned.

[ChartBuddy]

Explanation

[JayJuanGee]

Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies

https://finance.yahoo.com/news/carbon-negative-bitcoin-etf-launch-112722279.html

It seems like Canadians are after all the ETFs left over by the USA...

"carbon negative" mumbo jumbo.. what a bunch of baloney.. I was on the fence whether to send a merit for a bitcoin related link.. but jeez.. I just get negatively affected by the content sometimes..and not really sure what I should say.. it's almost like in the earlier days when we used to get excited about anything mentioning bitcoin, and it took some of us a bit of time to realize that they weren't really saying bitcoin in some of the articles.. they were talking mumbo jumbo talk.. .. such as referring to blockchain or some other gobbledy-gook  ways of dancing around the bitcoin topic.. and sure some people say that anything is good for bitcoin, so I am not completely hostile towards any which way this pig might take me... (thanks again billyjoelallen)

I have exactly ZERO problem with this existing.  Just like if you want to buy only organic apples.  Or more apropos if you choose to buy your energy from a provider that buys 100% renewable to offset your use (They market this like you are actually using only renewable energy when in fact you are paying for the production, not the use of renewables... you house uses energy from coal, just like you next door neighbor who does not give a crap).

Sure, go ahead and have your "ZERO" problem.. it's a free country.. last time I checked.

However, I consider the dealing with money, security of a decentralized system to be a wee bit more nuanced than from where you got your apples..

Get a grip..

The more and more people reporting their supposed "cleanliness" becomes problematic in terms of reporting requirements.. and sure, people can report whatever the fuck they want.. they don't have nothing to hide right?  they don't need to hide the fact that they are mining bitcoin, right? or how big their operations might be, right?  or what jurisdiction they might be in or not in or overlapping, right?  No problem right.  Governments and status quo industries are not hostile to bitcoin at all, right ?  We be like one BIG happy family, no?

So if people want to participate in, and fund businesses that produce "GREEN" bitcoin?  Fine.

How do you get to knowing that information.  Is it relevant?   Sure it is relevant to some peeps.  It is especially relevant to peeps who have hardly any fucking clue about what bitcoin is and what purposes in society bitcoin might serve.  It is also relevant to people who know what bitcoin is and they would prefer to have either a weaker version of bitcoin, some shitcoins or no bitcoin at all.  Is it relevant to decentralization?  whatchu thinkening?

It's not a problem.. It's zero problem, right?

But the moment the market starts to try to differentiate between UTXOs, or some draconian legislation goes into effect.  Then I have a problem.

O.k. zero problem seems to be a slippery slope, doesn't it?  Of course, they are not going to leave their curiosities about bitcoin out of the fungibility questions.. they would like to express some concerns about fungibility.. and did I mention privacy?  Is there such a thing as voluntary disclosure that is helpful for everyone in terms of how many bitcoins you have?

Thing is they will learn the hard way like everyone has who tries to attack bitcoin.  But it *could* delay the journey for all of us.

Of course it is a kind of attack that already rises to the level of greater than zero problemas.

Oh no... We should just wait.. and let the voluntary disclosures about greenie weenie happen first, no?  Voluntary disclosure doesn't hurt nobody, right?  Are your nodes green capswock (Chinese cooking instrument)?  What about dee lighting ones?  The word lightning does not sound very green to me, either.   

[cAPSLOCK]

Are your nodes green capswock (Chinese cooking instrument)?  What about dee lighting ones?  The word lightning does not sound very green to me, either.   

The node I am working on today.  Takes 3.4watts.  It's on 24/7.  It costs less than 1 cent a day to run, and under 3 dollars a year.

It uses less energy than a nightlight.  It would be considered EXTREMELY environmentally friendly.

[JayJuanGee]

Carbon-Negative Bitcoin ETF to Launch by Accelerate Financial Technologies

https://finance.yahoo.com/news/carbon-negative-bitcoin-etf-launch-112722279.html

It seems like Canadians are after all the ETFs left over by the USA...

"carbon negative" mumbo jumbo.. what a bunch of baloney..

Yes, it's mostly BS, as cAPSLOCK swiftly pointed out.

I have exactly ZERO problem with this existing.  Just like if you want to buy only organic apples.  Or more apropos if you choose to buy your energy from a provider that buys 100% renewable to offset your use (They market this like you are actually using only renewable energy when in fact you are paying for the production, not the use of renewables... you house uses energy from coal, just like you next door neighbor who does not give a crap).

The way I see it, it's all good for bitcoin.

Hurr durr too much energy used for magic internet money... but wait... it's GREEN!
So now we have green(washed?) bitcoin in the form of an ETF. So go buy that if you want to save the planet.

However, what I care about the most about new ETFs is: physical backed, redeemable in kind (meaning: in corn)?

Physical backing is good for SEC (or equivalent) clearance, because it gives the issuer 100% insurance against wild price swings, which the honey badger is quite fond of. Redeemable in kind is good for OGs and hodlers of both actual corn and ETF shares, because it gives the OG/hodler good insurance against fuckery, and it forces the issue to buy some moar if anyone wants to redeem a chunk.

Unfortunately, nowhere in that Yahoo Finance article are these essential features mentioned.

Of course, many longer term bitcoiners recognize and appreciate the value in direct bitcoin ownership and the ability to claim your coins, upon request.  

For sure a lot of people want to gain exposure to bitcoin through various financial instruments, and they do not know, appreciate or understand the value of direct custody or abilities to demand custody.  Sure through the years we might well have to learn more about these kinds of direct custody values and the abilities to demand immediate custody.. and people tend to contract away those kinds of rights, and sure financialization of bitcoin is still likely to create UPwards and UPpity price pressures on the corn, but we should not be fooling ourselves into believing that a lot of those instruments create more corn than exist, and some of those third party custodians are increasing their chances of getting their asses handed to them if they don't adequately protect their lil selfies with enough actual corn in their holdings in the event that king daddy decides to go on a bit of a face-melting UPpity that could end up punishing some of those kinds of folks.. perhaps? perhaps?

Are your nodes green capswock (Chinese cooking instrument)?  What about dee lighting ones?  The word lightning does not sound very green to me, either.  

The node I am working on today.  Takes 3.4watts.  It's on 24/7.  It costs less than 1 cent a day to run, and under 3 dollars a year.

It uses less energy than a nightlight.  It would be considered EXTREMELY environmentally friendly.

Yes.  And, some peeps would love to receive more details regarding what you be up to.  I suppose you don't have any problems with that because you have nothing to hide, right?  You know that we need to keep track of some of the details in order that the information is credible and we can get a rating for our jurisdiction, and I know that you gots no problem with that either, right?  It's not a BIGGie, right?  It's zero problem, right?

[cAPSLOCK]

Yes.  And, some peeps would love to receive more details regarding what you be up to.  I suppose you don't have any problems with that because you have nothing to hide, right?

I have no problem at all with people wanting to know what I am up to.

[JayJuanGee]

Yes.  And, some peeps would love to receive more details regarding what you be up to.  I suppose you don't have any problems with that because you have nothing to hide, right?

I have no problem at all with people wanting to know what I am up to.

Oh gawd....  

Have you even heard of the thingie of this thread.. king daddy?

(no I am not calling you king daddy, I am calling you capswock, the cooking tool.. yes, tool of a fool
 --  #nohomo)

[NIZZAONE]

 

[marcus_of_augustus]

.... leftie Guardian FUD about bitcoin El Salvador experiment
https://www.theguardian.com/world/2021/aug/30/scepticism-grows-in-el-salvador-over-pioneering-bitcoin-gamble

[NIZZAONE]

.... leftie Guardian FUD about bitcoin El Salvador experiment
https://www.theguardian.com/world/2021/aug/30/scepticism-grows-in-el-salvador-over-pioneering-bitcoin-gamble

THE WAR HAS JUST BEGUN