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

[xhomerx10]

We can celebrate, but let's not gloat guys.

I, for one, praise the S2X camp for achieving the internal consensus to pull back from the brink.

We will eventually, in a safe and orderly manner, address their concerns regarding scaling.

In the end, they behaved like rational adults.  Perhaps we can have nice things.

 Screw it. I'm going to violate a forum rule for this one.

+1

[mattimann]

Can we launch a public request to Jihan to donnate a few servers (no longer needed anyway) to Kraken? At least he would serve some public interest by doing so... .

Kraken are actually doing quite well with their laptop.

i alway´s thought they are using a C64

[Higher Altitude]

Stocked up on that bounce.

On board the 8k CHOOCHOO now.
Fiat = Deer in headlights 

[Rosewater Foundation]

SegWit2x futures are inching back up. Imagine this is a war ruse.
Quick! Attack all the hatches! Batten down the sinews!

[Elwar]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?

In fact, yes.
Imagine when millions of people are opening and closing LN channels or executing smart contracts.
It is not my intention to spread FUD, but we have an eventual problems between our hands.
I really hope bitcoin can scale offchain, as onchain.

How often does one open and close a credit card in their lifetime?

[suzanne5223]

Tomorrow >$8k

It good to optimistic but are you sure about that mate because there is some kind of dump in price of bitcoin cause it was around $7200 price range 10minutes back and it now $7100.

[TheFlynn49]

ViaBTC has turned it's Segwit2X flag off, has it not ?

493670    7 minutes ago    0x20000000    ViaBTC    f/ViaBTC/Bitcoin Cash/,mm"Œy3jHpm@~/^
&

zeҁ    No    No    1,053.97    3,993.21
493668    28 minutes ago    0x20000000    ViaBTC    d/ViaBTC/Bitcoin Cash/,mmcaI-+:7w]vU


~<,    No    No    1,047.23    3,993.17

[Rosewater Foundation]

^good point, who's still signalling?

[mymenace]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?

In fact, yes.
Imagine when millions of people are opening and closing LN channels or executing smart contracts.
It is not my intention to spread FUD, but we have an eventual problems between our hands.
I really hope bitcoin can scale offchain, as onchain.

How often does one open and close a credit card in their lifetime?

This is interesting, I hope everyone realizes

Bitcoin is built and tested it works


Here is the part where everybody else comes in

Build on top of it....

Build around it

Build with it

You can do almost anything to make it cheaper, faster, more efficient

[Gab0]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?

In fact, yes.
Imagine when millions of people are opening and closing LN channels or executing smart contracts.
It is not my intention to spread FUD, but we have an eventual problems between our hands.
I really hope bitcoin can scale offchain, as onchain.

How often does one open and close a credit card in their lifetime?

I can be wrong, correct me if I do.
To use LN you must create payment channels. If I want to buy something on Amazon, I should open a payment channel with Amazon. But, if tomorrow I want to buy something on Ebay, I must also open a channel with them? And if later I want to buy a coffee at Starbucks, should I open another channel?
If a company creates an smart contract for an ICO, should not every certain period of time liquidate the coins in the blockchain?

Anyway ... if millions of people only open and close one LN channel, it is already an overwhelmingly bigger burden than the current one.

[TheFlynn49]

^good point, who's still signalling?

BTCC, AntPool Bixin BTC.top GBMiners BitClub still signal it.

[Rosewater Foundation]

^good point, who's still signalling?

BTCC, AntPool Bixin BTC.top GBMiners BitClub still signal it.

ok so I guess the future market will just bleed down slowly as each one drops off.

[Gab0]

https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/

Their articles are usually on point but this one seems like fear mongering.

Quantum will kill all hash functions. the thing is we are still > 10 years from home quantum. Currently, it only works in the lab near absolute 0

edit: I a word

I just thought ... If quantum computing represents a potential problem, can it also be a possible solution to scaling problems?

[Arriemoller]

It sounds like you must Enjoy having Blockstream's  dick shoved down your throat while your paying $100+ to move your coins off an exchange.

Tell your grandma to buy Bitcoin, it's a great investment. I'm sure she will love the part where she has to calculate a priority fee to pay based on the size of her transaction.

For everything else, there's Bitcoin Cash.

What sort of idiot is in bitcoin to spend them in b/s?
It's just you.

Yeah, because the thousands of people who have disconnected themselves from the banks and from FIAT don't exist.

Legacy Bitcoin has been taken over by corporate interests that want to prevent BTC from scaling, thus removing competition and ensuring their monopolies will continue uncontested. No one is going to want to pay $20, 30, 40, 50$+ fees to make a payment or just to move coins. Thus, Legacy Bitcoin has truly become a Banking Settlement Layer - with fees comparable to a bank wire, and confirmation times comparable to a bank wire. This is Bitcoin now. Enjoy it. It's what you wanted.

So use another coin then, why are you stuck on bitcoin. The Zimbabweans use both bitcoin and dash. One for savings and one for shopping. Works fine, and no banks involved.

[TheFlynn49]

https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/

Their articles are usually on point but this one seems like fear mongering.

Quantum will kill all hash functions. the thing is we are still > 10 years from home quantum. Currently, it only works in the lab near absolute 0

edit: I a word

I just thought ... If quantum computing represents a potential problem, can it also be a possible solution to scaling problems?

not "10 years from home quantum" but "10 years from quantum being a treat for bitcoin"

and we all know how accurate are 10-years predictions. If you tried to program a quantum computer only once, you know it's never gonna happen.

[Dabs]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?
Have you ever done an international wire?

I've done plenty of wires. The fees are high relative to how they were a few years ago. I am not complaining about the fees, everyone else is.

My favorite transactions are the ones valued above $100k USD, sent to 50 different addresses, costing about $10 in tx fees, and confirming within the hour (or two; doesn't matter). But to me, they are all just bitcoins and satoshis.

[Globb0]

https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/

Their articles are usually on point but this one seems like fear mongering.

Quantum will kill all hash functions. the thing is we are still > 10 years from home quantum. Currently, it only works in the lab near absolute 0

edit: I a word

But it doesnt have to be the new home standard to become an issue.

Just 1 group of people with the intention and the hardware, but will there be more lucrative targets? and the wider  Cost/Risk/Reward relationship keeping it at bay for now.

[arklan]

Well holy shit. Didn't see that coming. Segwit2x dropped out...

[jojo69]

By the time we have quantum attacks we will have quantum miners. 

It's not fucking magic guys.

[realsteelboy]

There was a link someone posted recently that was a cashing out bitcoin plan generator.

You entered your total, how much you wanted to end with, hoe much you wanted to sell etc and it gave you a target.

Anyone have a link?