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

[jbreher]

https://blockstream.com/2017/08/15/announcing-blockstream-satellite.html

Guys, if I'm reading their website correctly, they've devised a way to transmit bitcoin transactions directly over radio wave. No internet required. This is gonna be HUGE.

Awfully sketchy on any details. One way or two? How many satellites in orbit? What percentage of the population do they cover? Uptime for each region?

Of course, we've had bitcoin transmission over packet radio for years.

I thought Blockstream didn't like Garzik's ideas?

edit: more info is indeed available. Looks like a one-way* broadcast of Blockstream's version of the definitive chain as per the mining backbone. Seems like a useful addition. Should also drive hime how fallacious the idea is that non-mining, fully-validating nodes add any value to the network. Any node using this will be on Blockstream's filtered version of the truth, or not participate at all.

*Looking for evidence of two-way comms. Without an uplink, the idea that this will allow participation by the masses lacking internet access is a hollow lie.

[quetschiquetsch]

 I'm a little bit nervous to have the sign knowing it will likely lead to lots of conversations during my sales time.

maybe print out a card with some links, then you can politely say "yes, it is the payment method of the future, but I don't have time to bring you up to speed on it right now, please check out these links and do your own diligence...it is your money.

I have allot of people asking me to show them how to purchase BTCitcoin and how it works. I Always tell them to watch the movie: Banking on Bitcoin.

If they dont even want to spend an hour and a half to get to know how bitcoin works im not helping them. If they do watch it and ask me again later i do help them with setting up an account on Kraken and show them how it works.

So you should have a BitCoin ATM

[Ludwig Von]

Many people from the Netherlands in bitcointalk. Greetings from Amsterdam!

Yes, Greetings from Eindhoven

Greetings from Raalte  Allemaal ook een paar jaar* salarissen verdient de afgelopen weken mag ik hopen? 

Groetjes uit Turkije(Izmir) normaal gesproken Rotterdam.

Ja dat kan je dus wel zeggen 

Ik zal er de Belgen maar bij doen, groet uit Gent... .

[Icygreen]

 I'm a little bit nervous to have the sign knowing it will likely lead to lots of conversations during my sales time.

maybe print out a card with some links, then you can politely say "yes, it is the payment method of the future, but I don't have time to bring you up to speed on it right now, please check out these links and do your own diligence...it is your money.

I have allot of people asking me to show them how to purchase BTCitcoin and how it works. I Always tell them to watch the movie: Banking on Bitcoin.

If they dont even want to spend an hour and a half to get to know how bitcoin works im not helping them. If they do watch it and ask me again later i do help them with setting up an account on Kraken and show them how it works.

Thanks for the tips. Recommending the video is a great idea.  If this goes over well, I also have an online store that I plan to do the same with at some point.

[empowering]

https://blockstream.com/2017/08/15/announcing-blockstream-satellite.html

Guys, if I'm reading their website correctly, they've devised a way to transmit bitcoin transactions directly over radio wave. No internet required. This is gonna be HUGE.

Awfully sketchy on any details. One way or two? How many satellites in orbit? What percentage of the population do they cover? Uptime for each region?

Of course, we've had bitcoin transmission over packet radio for years.

I thought Blockstream didn't like Garzik's ideas?

See my post above^^

Looks like 4 so far currently in orbit  https://blockstream.com/satellite/satellite/

[Denker]

Who sold at the bottom?

I'm not sure if this already was the bottom.
We could also see a second wave and drop to 3500 for a short while.
The newbies who joined this space just a few days ago and bought Bitcoin without knowing what it is and how it behaves learn their first hard lesson now. For us oldies here it's no big deal anymore. Let it drop, layer in if you have some money on the sideline and wait for the honeybadger to bounce and move up higher again.

[empowering]

Coverage Area

Blockstream Satellite currently covers nearly 2/3rds of the Earth's landmass. To see if you are in the coverage area, use our Interactive Coverage Map

Hardware Required

To utilize the Blockstream Satellite network, you must have the following hardware at a minimum. These items are available from resellers around the world and we are currently working with a vendor to provide complete kits and components.

Following is a list of all the hardware required:

45cm Ku Band Satellite Dish (antenna)
PLL LNB (linear polarization) w/ < = 200kHz LO stability
LNB Power Supply
LNB Mounting Bracket
Software Defined Radio interface
Cables, Connectors, and Mounting Hardware
1. Minimum 45cm Satellite Dish (bigger is better)

Blockstream Satellite is designed to work with small antennas only 45cm or larger in diameter. However, a larger antenna is always better. When possible, we recommend installing an antenna larger than 45cm if one is readily available. 60cm, 90cm, and 1.2m antennas are readily available.

Other than size, the only other requirement is that the antenna will work with Ku band and higher frequencies.

Satellite Frequency Bands

Blockstream Satellite operates in Ku band.

C band: 3.4 GHZ - 4.2 GHz

Ku band: 11.7 GHz to 12.7 GHz

Ka band: 17.7 GHz - 21.2 GHz



Software Requirements

Three software components are needed to utilize Blockstream Satellite:

Bitcoin Fibre: http://bitcoinfibre.org

GNUradio: http://gnuradio.org

Blockstream Satellite Receiver: https://github.com/Blockstream/satellite



All this and more = https://github.com/blockstream/satellite

[jojo69]

45cm Ku Band Satellite Dish (antenna)
PLL LNB (linear polarization) w/ < = 200kHz LO stability
LNB Power Supply
LNB Mounting Bracket
Software Defined Radio interface
Cables, Connectors, and Mounting Hardware
1. Minimum 45cm Satellite Dish (bigger is better)

has to be down only, there is no uplink gear in that BOM

[lightfoot]

Did you guys miss this bit?

On launch today, Blockstream Satellite is already available across two thirds of the Earth’s landmass; and will reach global coverage – to everyone on the planet – by end of year. As more people access the Bitcoin blockchain with Blockstream Satellite, we expect to see even more adoption and use cases for Bitcoin as well as a strengthening of the overall robustness of the network.

https://blockstream.com/2017/08/15/announcing-blockstream-satellite.html

Explore the system = https://blockstream.com/satellite/menu/

Current status    = https://blockstream.com/satellite/satellite/  

Hm. I wonder if this can help the issue of providing a stable blockchain for the Martian colonies. I want to be sure I can withdraw Bitcoin at any Mars ATMs.

[Torque]

45cm Ku Band Satellite Dish (antenna)
PLL LNB (linear polarization) w/ < = 200kHz LO stability
LNB Power Supply
LNB Mounting Bracket
Software Defined Radio interface
Cables, Connectors, and Mounting Hardware
1. Minimum 45cm Satellite Dish (bigger is better)

has to be down only, there is no uplink gear in that BOM

Yeah, the bigger question is how does one become a satellite teleport station? And what hardware/software would be required? What are the reg requirements? Cost? So many questions....

[Last of the V8s]

45cm Ku Band Satellite Dish (antenna)
PLL LNB (linear polarization) w/ < = 200kHz LO stability
LNB Power Supply
LNB Mounting Bracket
Software Defined Radio interface
Cables, Connectors, and Mounting Hardware
1. Minimum 45cm Satellite Dish (bigger is better)

has to be down only, there is no uplink gear in that BOM

thanks

so we have to trust the chain they beam down? my node can't reject rule-breaking blocks? jbreher would love this

non-starter

[Lauda]

Correction imminent or just a big dump from someone?

Damn, I hope not too much of a correction. Definitely been a dump though, down to $4100 on Stamp. I hope $4000 holds.

Well, it didn't hold. Seems to have bottomed out at exactly 3800 which is quite odd, but I'll take it. Hopefully it stays above $4xxx this time around.

That picture is awesome and a perfect depiction of what was going on at the time.

[jbreher]

45cm Ku Band Satellite Dish (antenna)
PLL LNB (linear polarization) w/ < = 200kHz LO stability
LNB Power Supply
LNB Mounting Bracket
Software Defined Radio interface
Cables, Connectors, and Mounting Hardware
1. Minimum 45cm Satellite Dish (bigger is better)

has to be down only, there is no uplink gear in that BOM

thanks

so we have to trust the chain they beam down? my node can't reject rule-breaking blocks? jbreher would love this

non-starter

Yeah - I already found more info, and edited my post above (https://bitcointalk.org/index.php?topic=178336.msg20898842#msg20898842)

To rehash my edit:
more info is indeed available. Looks like a one-way* broadcast of Blockstream's version of the definitive chain as per the mining backbone. Seems like a useful addition. Should also drive hime how fallacious the idea is that non-mining, fully-validating nodes add any value to the network. Any node using this will be on Blockstream's filtered version of the truth, or not participate at all.

*Looking for evidence of two-way comms. Without an uplink, the idea that this will allow participation by the masses lacking internet access is a hollow lie.

[Last of the V8s]

[bitserve]

Did you guys miss this bit?

On launch today, Blockstream Satellite is already available across two thirds of the Earth’s landmass; and will reach global coverage – to everyone on the planet – by end of year. As more people access the Bitcoin blockchain with Blockstream Satellite, we expect to see even more adoption and use cases for Bitcoin as well as a strengthening of the overall robustness of the network.

https://blockstream.com/2017/08/15/announcing-blockstream-satellite.html

Explore the system = https://blockstream.com/satellite/menu/

Current status   = https://blockstream.com/satellite/satellite/  

Hm. I wonder if this can help the issue of providing a stable blockchain for the Martian colonies. I want to be sure I can withdraw Bitcoin at any Mars ATMs.

That won't happen. Main limitation is that there is a 14 minute delay between Earth and Mars, and that is just for one way. The only way to have a stable blockchain would be with a network of interplanetary Lighting Network hubs. That way, if you have an open channel with the mars hub, you can do instant "local" (Martian) tx's.

Another benefit of Lighting Networks. Just saying.

[quetschiquetsch]

Who sold at the bottom?

I'm not sure if this already was the bottom.
We could also see a second wave and drop to 3500 for a short while.
The newbies who joined this space just a few days ago and bought Bitcoin without knowing what it is and how it behaves learn their first hard lesson now. For us oldies here it's no big deal anymore. Let it drop, layer in if you have some money on the sideline and wait for the honeybadger to bounce and move up higher again.

I would love the see another dip, but unfortunately I don't think so. Today was a good chance, tomorrow fresh money will come to the exchanges and price is rising already...
If somebody isn´t sure whether to sell or not, please give me a dip. I´ve read "BitCoin is dead" anywhere, this should be enough of an argument, wright?

[Arriemoller]

This will be a Fiat race tomorrow. In Europe today is public holiday so no banks are working. I´am expecting loads of money flooding the exchanges tomorrow  
This would be a nice dip to buy...

No public holiday in Sweden, what holiday are you talking about?

[jojo69]

some pope something

[deepcolderwallet]

Is this that ackward moment in which people that were praying for a dip a few hours ago are now too scared to rebuy?

BIP 141 (Segregated Witness) activation is scheduled to take place in: 1175 Blocks (8.15 days)

Hi bitserve,

Do you think the price will go up after activation in just over a week? I mean surely it's priced in as it's a guarantee now. Seems strange it going up at that moment when everyone knows about it.

Also I know btc is it's own beast but didn't litecoin drop after activation and then increase in price later?

Love to know everyone's thoughts here.

The only reference I can use is Litecoin. It kept pumping until just after activation. Then a mild drop that took some days(?)  to recover.

At the moment, Bitcoin is doing exactly the same. So it should keep rising until activation. I wouldn't be surprised if it breaks 5K during last days/hours before activation.

Of course, both are not the same. Litecoin didn't need Segwit as much as Bitcoin does, because it had no capacity problem... but Segwit is much more than that though.

There have been some interesting advances in Segwit wallets and even in Lighting Network. I think it will be those advances what will propel Bitcoin to new heights, but not sure if it will be right after activation or a few months later.

Also, Segwit "capacity increase" will become more noticeable as soon as more people and services start using segwit tx's, something that will come gradually over the next few months.

In conclusion, I don't fucking know.... But I think the scenario is very bullish and that, even if it dips now, it should keep rising later.

Right here I'd like bitserve, rjclarke2000, Elwar, Torque, lightfoot, infofront, JimboToronto and Searing's opinion.

Interesting times are coming. Segwit is about to activate. We already know Litecoin's behavior. But things are different right now. Another fork is about to happen. And this is not like the previous, when the honey badger just ignored the altcash for our cheers. About 8 days from here we may see Bitcoin's price submerge and another alt rise with (maybe) half BTC's value.

In my opinion it would be similar to March's Winklevoss ETF. There happened a rush from $800+ to $1200+ in a few minutes, then... BOOM! Two months to recover to another (very celebrated) ATH.

Not that I care about it, I learned my lesson from afrocoin's irresponsibility. I'm a Matrix hodlr since then.
I'm asking only because I'd like to have some help to predict a window where I could buy some cheap coins.

Thank you for you attention.

[Periodik]

Bitcoin correction right now. I hope we can stand still and firm at 3800 level. September is another drama period for bitcoin so it will be another drop before a huge rally. I am really feeling that those above the clouds prediction before at 10,000 this 2017 is happening.