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

[rolling]

aaaand 3, 2, 1....

*bzzzzz* wrong!

any time now though.

so, wait, this cross chain thing, what the fuck? HOW? i mean, someone, somewhere, has to take he BTC amount and give out the LTC amount, but from what i saw in the demo video, neither of the two involved did that. one sent out btc and got ltc. the other sent out ltc and got btc. i'm very confused.

It was a demo/test of the lightning network. Both people would need an open channel on each blockchain.

[JayJuanGee]

The BCH crew were very stupid to attempt to kill BTC

We're not trying to kill Bitcoin Segwit. We are merely building Bitcoin Cash to be all that it can be -- in order to take its rightful place as the dominant Satoshi derivative.

I'm sure we've had a fair share of fly by night pump n dumpers. But enough of us are playing a long game. Those of you thinking this is over may want to rethink.

The corporate shillness of your "we" assertion really comes off as a kind of disingenuousness - like you are a hired spokesman or if NOT hired, then you are supposedly voluntarily representing some cause greater than yourself?


I don't disagree that you and your other nutjobs are going to continue to attack bitcoin, you are not defeated yet, and you have other tricks up your collective sleeves - so I suppose your otherwise nonsensical talking points about attempted conformity with the original Satoshi vision make sense in that context - even while the whole matter that you are presenting lacks any kind of credibility beyond the ongoing astroturfing that you continue to spew out as if there were really some meaningful following - beyond a few opportunistic disgruntled whiners who are jumping on your whine train.       

[Peter R]

@Peter R, are you here?

Im going to believe in you if you can push BCC back to 0.4 till Sunday.  
Cheers!

I'm just a little minnow swimming in a sea of whales. I don't push.

We'll see higher than 0.4 before this game is up, though.  Not sure if the next wave will have commenced by Sunday, however.  GBTC is liquidating their BCH until mid December.

[JayJuanGee]

OH CRAP, BCH IS TANKING! THERE GOES THAT!

Wait, I moved 75% of it into bitcoin at 1300. Gee thanks Bitmain for getting me off my ass to split my wallets. The other 25% can just be around to laugh at.

Over the past few months, I have sold somewhere between 96% to 97% of my BCH - let's just say 96.8% for sake of rounding. 

Probably, I would have sold more during the most recent pump; however, I still have a bit of BCH tied up in coinbase and on WEX.. so I figure that I don't really have much of a choice regarding those tied up ones.

[infofront]

I'm kicking myself for dumping my BCH too early in the pump. Oh well - free BTC nonetheless.

[Peter R]

We'll see higher than 0.4 before this game is up, though.  

I'm pity you.

Knowing that if BCH hits 0.4, buyers will ultimately be rekt with a Kong Dong of Penetration +12.

Roger Ver's abortion in Bitcoin Cash has no viable path to dominance over Bitcoin in the long term.

That's not what I meant by "before this game is up."  Check you normalcy bias.

[lightfoot]

I'm kicking myself for dumping my BCH too early in the pump. Oh well - free BTC nonetheless.

Eh, things happen. 1k was enough for me to finally download a crap-ton of wallet tools to get the seeds and get things moved. Worked out, just took a day of work.

[jbreher]

Lightning atop Bitcoin Segwit? With everyone settling twice a day? Great - you've just set the max number of users at less than quarter-million.

Is that what you wanted? If not, perhaps you need to devote more thought.

I'm not sure where you get your quarter-million number from. Bitcoin before gets us 3 to 4 tx/s

3 tx/s
180 tx/m
10,800 tx/h
259,200 tx/d
x1.7x if everyone uses segwit for 100% of their on-chain tx
440,600 segwit tx/d
/2 for settling twice a day
220,300 max users supported.

Show me a block representing 4 or more tx/s?
Segwit might increase block size greater than 1.7x under aberrational circumstances - but these circumstances include very large # inputs & outputs per tx. Still capped at 1.7x tx.
Your plan to double block size is a pig in a poke. Even allowing, the number of users supported is under a half million. Sound like a world beater to you?

or about half a million transactions a day, with Segwit that doubles, and if sometime in the future the blocksize is increased (the proper consensus agreed way), that doubles again. So we have 4 million transactions a day.

See above analysis.

Each of those transactions can be Lightning'd, as opening or closing a channel is just one transaction. So that's 4 million times maybe 1 million, or about a trillion transactions per day.

Yes, but if each user is to open and close a channel daily (your hypothetical, remember), Bitcoin Segwit can only support a quarter-million users. Even if I spot you the unobtainable number of 4 million, the only way you can hit a trillion tx/d is if each of your 4 million users initiates 1 million tx/d. I don't think there is a human alive that could generate that many transactions. Hell a preprogrammed Raspberry Pi cannot generate that many transactions in a day. A decent-spec consumer computer could. If it worked on it 'round the clock.

This does not include any other off chain scaling solutions or payment channels that are not Lightning, such as inside the same wallet (coinbase to coinbase.)

While this is true, you still have an insurmountable obstacle in the (1 open + 1 close per day) * number of users <= daily on-chain tx capacity.

[AZwarel]

We'll see higher than 0.4 before this game is up, though.  

I'm pity you.

Knowing that if BCH hits 0.4, buyers will ultimately be rekt with a Kong Dong of Penetration +12.

Roger Ver's abortion in Bitcoin Cash has no viable path to dominance over Bitcoin in the long term.

I had Kong Dong of Penetration +12 googled cause wtf is that, but there is nothing NSFW in the pictures department, just some boring TA.

I am disappointed.

[LewisPirenne]

Does Jorge Stolffi still troll this thread?

He still shows up in reddit btc though.  For some reason, the BCH crew refused his "help" at improving EDA/DAA algorithm.

Also, Roger Ver apparently pulled his 10K BTC bid at 0.1 BCH/BTC, at least for now.  It was doubled down to 20K BTC during that plunge to 0.10, for a few minutes.  
Perhaps he has finally regained some senses after that weekend rage-quit?  Whether it be go-all-in on BCH or putting 20K BTC on one exchange.  Both are quite insane for an old timer.  

[pfrtlpfmpf]

Oh man, that´s so cool, I love it, seriously !

https://www.youtube.com/watch?v=3L4YrGaR8E4


My stereo just exploded.

[Rosewater Foundation]

We'll see higher than 0.4 before this game is up, though.  

I'm pity you.

Knowing that if BCH hits 0.4, buyers will ultimately be rekt with a Kong Dong of Penetration +12.

Roger Ver's abortion in Bitcoin Cash has no viable path to dominance over Bitcoin in the long term.

That's not what I meant by "before this game is up."  Check you normalcy bias.

Promise to come back when they run out of coins and stop paying you. No one ever does that.

[starmman]

Interesting dynamics over the last 12 hours - I wonder if the price will stabilise at 8k this week. Fun times =)

[vroom]

Interesting dynamics over the last 12 hours - I wonder if the price will stabilise at 8k this week. Fun times =)

it looks like we will see another desperate shitcoin pump this weekend. no 8k this week

[RobSteward]

It's correction time.

[ErisDiscordia]

Cup and handle forming, Monday = moonday!

[Searing]

Please change the POLL...(I'm so ashamed of my 6.5k to 7k vote on that, I verily had little BTC pump faith...)

(the shame)

[RobSteward]

Please change the POLL...(I'm so ashamed of my 6.5k to 7k vote on that, I verily had little BTC pump faith...)

(the shame)

[jjacob]

It's correction time.

Even if we are correcting, the money seems to be flowing out of Bitcoin and into Bitcoin Cash. The original Bitcoin holders ate not losing much. But if you took a punt and dumped your Bitcoin cash, then you are exposed to more volatility.

[notme]

It's correction time.

Even if we are correcting, the money seems to be flowing out of Bitcoin and into Bitcoin Cash. The original Bitcoin holders ate not losing much. But if you took a punt and dumped your Bitcoin cash, then you are exposed to more volatility.

Yep, and those of us who were hodlers of both sides were labelled fools and shills.  You've got to be a special kind of cocky to think only one side of a contentious fork is valuable and that you can pick which side that is immediately after the fork.  Clearly there are people who value each path.  That's why it is contentious.