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

[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.

[1714980097]

1714980097

[1714980097]

1714980097

[1714980097]

1714980097

[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.

[AlexGR]

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.

A contentious fork is something different. BCH was not launched as a result of a contentious fork, more like an altcoin with a shared tx history but with different parameters.

[erre]

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.

Seems to me (but that's only my opinion) that this is not about real supporters and "belivers" switching chain, but about some heavy manipulators pumping/dumping for profit.

[preshpresh]

Hum. Didn't dump all my clonecoins, but still made what could be considered a pretty penny on the ones I did.

If shitcoins pump then I can sell them later. And if not, then bitcoin is going to keep winning and clonecoins will be there as an insurance. Either way, the future is bright.

That said, something still feels off to me. If this was all that the biggest attack on bitcoin to date could do, then... well we will see what we will see.

What happened on the weekend was Wave 1. 

The BCH/BTC battle will play out over several more waves through the coming months. 

sounds like an admission of intent.

how about focusing on your own affairs and not 'not' spamming our network...?

would your bcash look even more shitty if you stopped the mempool assault??

would it?

it would, wouldn't it...

in fact it does, doesn't it!

[notme]

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.

A contentious fork is something different. BCH was not launched as a result of a contentious fork, more like an altcoin with a shared tx history but with different parameters.

A major catalyst for BCH was segwit being forced down miners throats when less than the original threshold was in favor of it.  BCH forked off to avoid segwit and increase blocksize.  How is that not a contentious fork?  BCH is arguably much close to the original bitcoin than the chain with the BTC symbol.

I'm not saying that BCH is the one true bitcoin or that it will surpass BTC in price.  But there is no reason to think it doesn't have value.  Of course, by now I should know that trying to be reasonable about the situation in here is about as productive as yelling into a hurricane.

[Heater]

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.

It's nothing new - money has always flowed back and forth between Bitcoin and altcoins. Personally I'm only interested in owning Bitcoin. I've missed out on plenty of altcoin and ICO pumps - but I don't want to play that game.