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

[JayJuanGee]

.....i would really like to know Satoshis opinion on that shit.

Fuck satoshi.

Who cares what he thinks (or thought)?  Can't go crying to daddy satoshi.



We're BIG boys and girls now.... on our own.

 



 








 

[edited out]

it's up to the market to decide.  
Bitcoin is the most secure database humanity has invented, and the market participants will outbid each other for being able to use it.  

Right now only a bunch of freaks are using it. But wait until mainstream catches up. We have seen nothing yet... (compare it to the internet)

Lookie uie poo-ie.. ... 

All diplomatic (and professional) about the matter.

 

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[shahzadafzal]

"The 2024 halving could send Bitcoin's price 4-8x higher."



Twitter Thread https://twitter.com/Croesus_BTC/status/1655566037838962691

[somac.]

https://mempool.space/block/0000000000000000000430bf9f7566adc062e14a1f0feff7b132bf4e9a261d40

 

Wow. That only used to happen when somebody fat-fingered.

There have been some crazy blocks. Look at the fee span on this one. I wish there was a way to order the transactions by highest/lowest sat/vB

[Maslate]

What does a high transaction fee usually imply? Are we expecting a bull run coming soon, or what? Because the last time I experienced this high transaction fee, the market has been very bullish, so what is it now?

Spam from greedy gullible people, see The severity of the Ordinals Attack is increasing.

Thanks for referring me to that thread, I'll get myself aware of what really is happening now.

Right now the highest is $7.87 for high priority, way too low compared to yesterday's over $20.

[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

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[Who is John Galt?]

one day there will be sidechains / second layers for all this stuff to run on Bitcoin, if we like it or not.  mEth and all these other projects will die.

Bitcoin will be the settlement layer for everything - even scams.  Fees will go into the thousands of USD.  One single onchain transaction will settle millions of offchain transactions.

these BRC20/ordinals are just the beginning of what's going to happen within the next decade(s).  We can already see them push exchanges like BChinance to implement Lightning.


only my2cts

Maybe I don’t understand something enough, but from a technical point of view, how are sidechains or second layers fundamentally different from other altcoins, besides the fact that they use fees directly in bitcoins, and not in an intermediate token? In fact, what you are saying has been around for a long time, because all other networks are the big second layer, which is built on the basis of bitcoin. And in the case of different tokens, there is not much difference whether they will be on the network with some declared intermediate token or with an imitation of bitcoin as an intermediate token. The real bitcoin is only on the bitcoin blockchain and nowhere else!

[ChartBuddy]

Explanation

[ChartBuddy]

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[ChartBuddy]

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[Lucius]

"The 2024 halving could send Bitcoin's price 4-8x higher."



Twitter Thread https://twitter.com/Croesus_BTC/status/1655566037838962691

The key word is "could" as in all other speculations - and here it's just about playing with numbers because x4-x8, in this case, refers to the current price, and if we took the last ATH as a reference value, then we couldn't even write x2 -x4. In fact, his analysis is very simple and has already been seen countless times.

[ChartBuddy]

Explanation

[nutildah]

Maybe I don’t understand something enough, but from a technical point of view, how are sidechains or second layers fundamentally different from other altcoins, besides the fact that they use fees directly in bitcoins, and not in an intermediate token?

Well, they don't use their own blockchains for one. They rely on the security provided by their parent blockchain.

Coin = own blockchain
Token = rides on top of another blockchain

I get it: part of the appeal of Ordinals was having data embedded directly in the blockchain of the world's most successful cryptocurrency, and/or most secure computing network. That's why they don't want to be on something like Liquid or a shitcoin like BSV.

But the BRC20 thing I don't understand the appeal of. It could all be done on Counterparty (not really a "second layer" so much as a protocol built on top of Bitcoin) in a much more responsible and data efficient way. Its novel I guess is its main selling point. Which means its a fad that will eventually die down just like any other degen fad. Just have patience.

[Volgastallion]

"The 2024 halving could send Bitcoin's price 4-8x higher."



Twitter Thread https://twitter.com/Croesus_BTC/status/1655566037838962691

The key word is "could" as in all other speculations - and here it's just about playing with numbers because x4-x8, in this case, refers to the current price, and if we took the last ATH as a reference value, then we couldn't even write x2 -x4. In fact, his analysis is very simple and has already been seen countless times.

I have to agree with you, and also add.

Why in all this analisys they understimate so much the actual conjucture, or other things involved?, i know they are the predictions bassed pure on graphs analisys and some math, but come on guys we CANT ASSURE this its gonna happen, it was not so lineal in the past and its not gonna be so lineal in the future, if that was so easy to predict and with the halving the price jumps x4 or x8 we can see already now a bull run for people trying to enter and catch that x4, or x8.

But this its clearly not happening right now.

Also the BTC now its really linked with the real economics factors and the real world, so i think we have to be more cautelous.

A big recession in the world or other war like China-Taiwan can blow up all the "analisys", fundamentals also matters.

[ChartBuddy]

Explanation

[Who is John Galt?]

Maybe I don’t understand something enough, but from a technical point of view, how are sidechains or second layers fundamentally different from other altcoins, besides the fact that they use fees directly in bitcoins, and not in an intermediate token?

Well, they don't use their own blockchains for one. They rely on the security provided by their parent blockchain.

Coin = own blockchain
Token = rides on top of another blockchain

I get it: part of the appeal of Ordinals was having data embedded directly in the blockchain of the world's most successful cryptocurrency, and/or most secure computing network. That's why they don't want to be on something like Liquid or a shitcoin like BSV.

But the BRC20 thing I don't understand the appeal of. It could all be done on Counterparty (not really a "second layer" so much as a protocol built on top of Bitcoin) in a much more responsible and data efficient way. Its novel I guess is its main selling point. Which means its a fad that will eventually die down just like any other degen fad. Just have patience.

With coin and token, it's clear, it's a matter of defining terms. In essence, as long as bitcoins are in the second layer network, they cannot be controlled in any way by the original bitcoin blockchain. After all, there they are already becoming ersatz-bitcoins, even call it coins, even call it tokens. The key is that a full-fledged bitcoin can only be in the main bitcoin blockchain, everything else is just a replacement.

Yes, BRC20 are tokens on the Bitcoin blockchain, and this is fundamentally different from any second layer solutions. The second layer is still a separate network, even if it is connected to the main network by special contracts.