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

[spooderman]

Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

[Denker]

Gosh. Bitcoin is so boring today.

Well, give our baby a little break.
A pit stop isn't bad and imo pretty healthy for all of us. The other coins aren't doing better as well. Market seems to need to take a breath before the party continues in one way or the other.
But yeah I agree that it feels a bit strange, because we were spoiled the last few days.

[Iranus]

What the hell is going on at Coinbase?  Their price is hovering around $1600.  It's way higher than even Bitfinex even though Coinbase is fully functional.  Any buywalls recently or anything?

This is whats going on.

https://www.youtube.com/watch?v=jG3_-KKHkZ8

History lesson folks.

Good point.  Maybe institutional investors and the more wealthy are seeing Coinbase as the easiest way to get their hands on some coins since they're sort of the de facto regulated US exchange (without spending too much time).

[york780]

BLEED ALTCOINS BLEED !!!!!!!!! 

[york780]

Altcoin manipulators be like

[BlindMayorBitcorn]

^This is the old paradigm. It no longer fits. The alt market is paying off like hotcakes. There must be a reason. Maybe Japan is still bitter about being Goxxed by BTC proper?

[york780]

^This is the old paradigm. It no longer fits. The alt market is paying off like hotcakes. There must be a reason. Maybe Japan is still bitter about being Goxxed by BTC proper?

It still fits.
ICO's are the new Spaincoin.

[Richard Branson]

BLEED ALTCOINS BLEED !!!!!!!!! 

The "bigger" altcoins are still a lot of % up (in BTC) compared to 2 weeks ago.
Lot of easy cash -> buy altcoin, wait for pump, dump for BTC. Increase BTC holdings while sleeping.

[Hyperjacked]

BLEED ALTCOINS BLEED !!!!!!!!! 

The "bigger" altcoins are still a lot of % up (in BTC) compared to 2 weeks ago.
Lot of easy cash -> buy altcoin, wait for pump, dump for BTC. Increase BTC holdings while sleeping.

That pretty much sums it up Richard 

Some of the bigger alts have decoupled from bitcoins grasp as ppl buy Bitcoin so they can buy more of the best of class alts!

[Hyperjacked]

^This is the old paradigm. It no longer fits. The alt market is paying off like hotcakes. There must be a reason. Maybe Japan is still bitter about being Goxxed by BTC proper?

It still fits.
ICO's are the new Spaincoin.

That's most of the ICO's over the past few years...we have had a few interesting ones with big potential lately!

Take Equibit for example ! Equibit will use the blockchain to speed up stock market settlement dates... 

Didn't Blythe masters get over 50 million funds for a similar project in the Au ?!

Lots of cool projects being done with the blockchain ...

[afbitcoins]

Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples

[york780]

Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples

I really dont take a Dash supporter too serious tho. First they pump it, then its stagnates. Then it dissapears. Its good that Btc takes its time to figure things out properly, but the dark side of decentralisation is that innovation takes so damn long. Same with democracy, its the best solution but it takes ages to decide and implementate. Btc is like old greece. Just philosophy while other lower skilled bad equiped no-knowledge countries are closing in. Its really discusting to see so much bad alts growing while they will dissapear. Dash with this maketcap is just a joke a IMO.

[afbitcoins]

Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples

I really dont take a Dash supporter too serious tho. First they pump it, then its stagnates. Then it dissapears. Its good that Btc takes its time to figure things out properly, but the dark side of decentralisation is that innovation takes so damn long. Same with democracy, its the best solution but it takes ages to decide and implementate. Btc is like old greece. Just philosophy while other lower skilled bad equiped no-knowledge countries are closing in. Its really discusting to see so much bad alts growing while they will dissapear. Dash with this maketcap is just a joke a IMO.

Thank you for those words of wisdom. Almost as enlightening as your mickey mouse video. Yes I like Dash which is completely irrelevant to this discussion. I like bitcoin too, I'm invested in bitcoin. I care about bitcoin, which is why I'm here worrying and fretting that LN is a bad idea.  

This is from the lighting network paper itself. Near infinite amount of transactions. Off chain. Things that make you go hmm

"If we presume a large network of channels on the Bitcoin blockchain,
and all Bitcoin users are participating on this graph by having at least one
channel open on the Bitcoin blockchain, it is possible to create a near-infinite
amount of transactions inside this network.  The only transactions that are
broadcasted on the Bitcoin blockchain prematurely are with uncooperative
channel counterparties."

[spooderman]

You are claiming that LN will create centralization somehow. I see no reason to think that this is the case.

It may not be perfect, but you can't have an infinitely big block size. So layer 2 has to happen and LN is the best way to make it happen.

[criptix]

Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples

I really dont take a Dash supporter too serious tho. First they pump it, then its stagnates. Then it dissapears. Its good that Btc takes its time to figure things out properly, but the dark side of decentralisation is that innovation takes so damn long. Same with democracy, its the best solution but it takes ages to decide and implementate. Btc is like old greece. Just philosophy while other lower skilled bad equiped no-knowledge countries are closing in. Its really discusting to see so much bad alts growing while they will dissapear. Dash with this maketcap is just a joke a IMO.

Thank you for those words of wisdom. Almost as enlightening as your mickey mouse video. Yes I like Dash which is completely irrelevant to this discussion. I like bitcoin too, I'm invested in bitcoin. I care about bitcoin, which is why I'm here worrying and fretting that LN is a bad idea. 

This is from the lighting network paper itself. Near infinite amount of transactions. Off chain. Things that make you go hmm

"If we presume a large network of channels on the Bitcoin blockchain,
and all Bitcoin users are participating on this graph by having at least one
channel open on the Bitcoin blockchain, it is possible to create a near-infinite
amount of transactions inside this network.  The only transactions that are
broadcasted on the Bitcoin blockchain prematurely are with uncooperative
channel counterparties."

Can you please explain me with your own words what LN is and does?

[thehulkk]

What in the Holy hell is going on with ripple. All of these alt coins are soaring. Not sure how I can be excited with btc when I see all these others succeeding greater.

[Denker]

What in the Holy hell is going on with ripple. All of these alt coins are soaring. Not sure how I can be excited with btc when I see all these others succeeding greater.

The alts just get bought by the newbs due to the potential of a 10 to 100x increase in no time. It's greed and the hope of making a quick buck why alts are soaring. Sooner or later this will have to come to an end.
Bitcoin is doing good. It will continue to rule them all.
We had a great run so far and in this moment it looks like we're moving up a bit again. Since 4 days we are swinging around the $1500 range. No reason to be disappointed.

[gembitz]

Altcoin manipulators be like

^BTC @$2017.._^_*(((/\DGB(digibytes)@125satoshis==pump&dump coin of the day :-D

https://poloniex.com/exchange#BTC_DGB


woof!

[criptix]

What in the Holy hell is going on with ripple. All of these alt coins are soaring. Not sure how I can be excited with btc when I see all these others succeeding greater.

If you are new: good luck and dont lose all your btc before the rocket ignites.

Alts right now are a very good way to increase your btc holdings. The downside is that if you arent smart (TA wise) or have insider infos the probalities of profiting greatly is rather small.

[afbitcoins]

Quoted from Slack Chat with Craig Wright

https://pastebin.com/zU6YZWXK
 
"Layer 2 networks will require the introduction of AML and intermediary controls. These are localised networks in the form of existing intermediaries.
 
They can be allowed to operate with Bitcoin competitively, but not at the expense of open exchange. This being what they fear, why use L2 if you have no need?

Those who do not think that government can set in and control this are either naive or malicious. There is no other view. This is not a false dichotomy. These are the only options.
 
In all cases, L2 will require systems that can be controlled and they will require the interaction of merchants and other parties. Networks such as lightning centralise and offer control on a platter."

Entirely false information. Your mistake was believing a word that clown says.

Please elaborate why its entirely false? In any case to hell with the Craig Wright link. That wasn't my point. My point is my own formed before I read any of Craigs own opinions.

Why is LN not going to centralise transactions? What is the protection against this? i assume we all want the common goal of bitcoin remaining decentralised. Links please. I need enlightenment so I can join the Wall Observer flock of sheeples

I really dont take a Dash supporter too serious tho. First they pump it, then its stagnates. Then it dissapears. Its good that Btc takes its time to figure things out properly, but the dark side of decentralisation is that innovation takes so damn long. Same with democracy, its the best solution but it takes ages to decide and implementate. Btc is like old greece. Just philosophy while other lower skilled bad equiped no-knowledge countries are closing in. Its really discusting to see so much bad alts growing while they will dissapear. Dash with this maketcap is just a joke a IMO.

Thank you for those words of wisdom. Almost as enlightening as your mickey mouse video. Yes I like Dash which is completely irrelevant to this discussion. I like bitcoin too, I'm invested in bitcoin. I care about bitcoin, which is why I'm here worrying and fretting that LN is a bad idea. 

This is from the lighting network paper itself. Near infinite amount of transactions. Off chain. Things that make you go hmm

"If we presume a large network of channels on the Bitcoin blockchain,
and all Bitcoin users are participating on this graph by having at least one
channel open on the Bitcoin blockchain, it is possible to create a near-infinite
amount of transactions inside this network.  The only transactions that are
broadcasted on the Bitcoin blockchain prematurely are with uncooperative
channel counterparties."

Can you please explain me with your own words what LN is and does?

How did this get from me asking for links so I could read up about it to me having to explain it in my words?    
Earlier today more than once I admitted needing more info, and asking for links, (still non provided).

So far I got this. Using LN, bitcoin users can create payment channels to other users, they can pay each other back and forth without any need for commiting to the blockchain. Unless both parties want to close the channel it stays open. A node could have lots of open channels to lots of other nodes. Payments can also be routed through other channels to reach a user who isn't directly connected via their own channel. Thereby a network will be formed. The likely shape of the way the network will evolve will be a hub and spokes model. With certain nodes acting like hubs this becomes a potential centralisation point. These hubs will know a lot of information about all the transactions passing through them.  I'm still sketchy on the fees but I assume these hubs will also be incentivised by fees.  I envisage hubs could act a bit like banks people create a channel with the bank (I mean hub) in order to get fast routing through LN avoiding slow normal bitcoin. These accounts (I mean channels) will stay open. Dumb masses think they are using bitcoin but they aren't (almost all the time).