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

[bitebits]

>32,000 is coming. why is it we always choose this number btw?

Because our great thought leader, Adam of course, tells Bitcoin to do so. So it will happen, don't resist.

[MinermanNC]

Massive new data centres using new generations of highly efficient mining chips. This is mining now:

That is ridiculous

That looks more like a data center for cloud storage than a BTC farm?  

Edit: But hard to see in that pic

That's actually KNC farm from about 2 years ago, Google "KNC MINING FARM," or here's some guy's tweet:
https://twitter.com/datavetaren/status/485388559256657920

Yep thx, I see that now... incredible 

[BlindMayorBitcorn]

Would be an uphill battle for another coin to muscle out BTC.

I agree. It would take a pretty significant advantage for some other coin to capture Bitcoin's market share. I believe the fact that such an XCoin competitor would be usable by people directly due to tps capability, rather than requiring all users to line up behind centralized aggregated access providers required by a 4 tps Bitcoin, may be such an advantage.

Further, once everyone is using these centralized aggregated access providers anyhow, what is the motivation of these centralized actors to continue to use the relatively expensive Bitcoin, rather than the more capable, cheaper XCoin?

That's a good point, we know the banks are looking hard at their own centralized crypto as well as other major developers, but all will have to overcome the image of being centralized as well as provide blockchain integrity of some sort though hashing? I don't know of any other way to support a blockchain. So even with a new coin(s) I still think somehow BTC will be the gold standard of sorts... were as their new more efficient and probably targeted use coins, will convert to BTC... IDK, I'm sure many fall asleep at night wondering about all of this

Litecoin is faster and presumably has the potential to be equally secure. (I believe.) Wasn't that the test to pass?




@Tera Serenity NOW!

[TERA]

I have this feeling like either its time to buy or the last chance to sell,  but I don't know which one... so I just hodl.

[MinermanNC]

Would be an uphill battle for another coin to muscle out BTC.

I agree. It would take a pretty significant advantage for some other coin to capture Bitcoin's market share. I believe the fact that such an XCoin competitor would be usable by people directly due to tps capability, rather than requiring all users to line up behind centralized aggregated access providers required by a 4 tps Bitcoin, may be such an advantage.

Further, once everyone is using these centralized aggregated access providers anyhow, what is the motivation of these centralized actors to continue to use the relatively expensive Bitcoin, rather than the more capable, cheaper XCoin?

That's a good point, we know the banks are looking hard at their own centralized crypto as well as other major developers, but all will have to overcome the image of being centralized as well as provide blockchain integrity of some sort though hashing? I don't know of any other way to support a blockchain. So even with a new coin(s) I still think somehow BTC will be the gold standard of sorts... were as their new more efficient and probably targeted use coins, will convert to BTC... IDK, I'm sure many fall asleep at night wondering about all of this

Litecoin is faster and presumably has the potential to be equally secure. (I believe.) Wasn't that the test to pass?

Yes and maybe no lol, I think Litecoin is faster in terms of transactions because there is less transactions, and it blocks in 1/4th of the time of BTC... but tends have more orphans etc. from that. Nothing worse than mining for hours only to find the block you hit doesn't pay as it was orphaned   and again, is a fork of BTC, albeit a great coin  

[BlindMayorBitcorn]

I guess a concern (for someone who was prone to be concerned about such things) could be that we become victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.



Isn't it?

[MinermanNC]

I guess a concern (for someone who was prone to be concerned about such things) could be that we become of victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.

Yep and that's what all the fuss is about lol I don't think short term its a big issue resulting in that... but will have to be reckoned with one day soon.

[ChartBuddy]

Coin



Explanation

[ImI]

I have this feeling like either its time to buy or the last chance to sell,  but I don't know which one... so I just hodl.

in other words, the next 24h are critical 

[peonminer]

If you follow the Heikin Ashi 1D with EMA 20, this is your last chance to buy sub $465 c0ainZ for a while.

[rocks]

what we need to be talking about now isn't block limit but TX manubillity and opening up bitcoin's scripting capabilities  

Don't forget about RBF, we need that now. It's not like zero-confirm transactions were built into the system or worked ever before.....

[BlindMayorBitcorn]

I guess a concern (for someone who was prone to be concerned about such things) could be that we become of victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.

Yep and that's what all the fuss is about lol I don't think short term its a big issue resulting in that... but will have to be reckoned with one day soon.

In deep Bitcoin time then, a scenerio where fees replace block rewards is inevitable. Is that right?

[Cconvert2G36]

I guess a concern (for someone who was prone to be concerned about such things) could be that we become of victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.

Yep and that's what all the fuss is about lol I don't think short term its a big issue resulting in that... but will have to be reckoned with one day soon.

In deep Bitcoin time then, a scenerio where fees replace block rewards is inevitable. Is that right?

How much money did you invest before figuring this out?

Don't answer that, I am inclined to think you are doing some kind of dialectical exercise... 

[BlindMayorBitcorn]

I guess a concern (for someone who was prone to be concerned about such things) could be that we become of victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.

Yep and that's what all the fuss is about lol I don't think short term its a big issue resulting in that... but will have to be reckoned with one day soon.

In deep Bitcoin time then, a scenerio where fees replace block rewards is inevitable. Is that right?

How much money did you invest before figuring this out?

Don't answer that, I am inclined to think you are doing some kind of dialectical exercise...  

So wait, what's a Bitcoin again?

And are there any use-cases that will become unviable because of a creeping fees market?

What coins I have left are the result of drug deals. Lots of drug deals.  

[peonminer]

http://nakamotoinstitute.org/mempool/hyperbitcoinization/

[TERA]

I wonder how many people hire one of the bitcoin-paid psychics, to ask where the price of bitcoin is going?

[peonminer]

I wonder how many people hire one of the bitcoin-paid psychics, to ask where the price of bitcoin is going?

Why hire when you can observe all of us nutjobs for free?

[Cconvert2G36]

I guess a concern (for someone who was prone to be concerned about such things) could be that we become of victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.

Yep and that's what all the fuss is about lol I don't think short term its a big issue resulting in that... but will have to be reckoned with one day soon.

In deep Bitcoin time then, a scenerio where fees replace block rewards is inevitable. Is that right?

How much money did you invest before figuring this out?

Don't answer that, I am inclined to think you are doing some kind of dialectical exercise...  

So wait, what's a Bitcoin again?

And are there any use-cases that will become unviable because of a creeping fees market?

Shift your question. What alternative's use-cases become viable...? Block reward is the network's manna to consume while eating everyone else's lunch, effectively leveraging its first mover advantage. The free market provides the guard rails and the trajectory.

[crossabdd]

waiting reach $500 at week end
cheers 

[BlindMayorBitcorn]

It isn't easy to imagine life in deep Bitcoin time. Self-driving cars paying to pass eachother on the highway. Stuff like that.