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

[mindrust]

Maybe its the lightning network?

It is early to say that but what if they just don't want to lose the on-chain customers?

I mean if LN gets adopted widely, only a few will be using onchain transactions. That means a direct loss of income for miners. What if they stopped spamming so they can be competitive to LN to not lose fee income?

Fee Income from 10sat/b txs is still better than nothing, right? If that's the case, core team just scored another one.

I hear that, but if you go to the BCash threads they are postulating that the miners are going to abandon BTC in droves due to the fee loss.

Who cares? As long as at least 1 person does some mining, we are fine. Miners thought they were special snowflakes. They are not. They already make money from the block rewards.

They'll leave and do what? Spam the bcash chain which nobody uses and ripoff people which don't even exist? Since nobody uses bcash who'll they be fucking?

They'll mine bitcoin whether they like it or not. Get rekt fucktards. Fucking parasites.

[jojo69]

I hear that, but if you go to the BCash threads they are postulating that the miners are going to abandon BTC in droves due to the fee loss.

Who cares? As long as at least 1 person does some mining, we are fine. Miners thought they were special snowflakes. They are not. They already make money from the block rewards.

They'll leave and do what? Spam the bcash chain which nobody uses and ripoff people which don't even exist? Since nobody uses bcash who'll they be fucking?

They'll mine bitcoin whether they like it or not. Get rekt fucktards. Fucking parasites.

I do not disagree, I was just slumming over on their thread and wanted people to be aware of what they are thinking over there.

There does seem to be some cognitive dissonance involved.

[Deeyoh]

Switching to BCH due to tx fee loss is crazy.. just look at the bcash transaction amount maybe a few hundred tx's per block. Maybe.. it's a ghost network.   They'll shoot themselves in the foot again by switching to mining it.

[mOgliE]

$12000 in one hour come on bitcoin

Yeah don't hope too much...
There is a need for a bubble. And a need for its explosion.

Exactly like the last one here there is a possibility for the price to go reaaaaaally low and I think it will. Think about how many people bought at 17k$ and are waiting for the price to go a little bit up for selling. There is a really big resistance that won't allow the price to go up for some times :/

[UnDerDoG81]

Sorry for that stupidish question. I invested 2013 in Bitcoin and holding since then. My Coins are on a paper wallet and I don't have much to do with cryptos since then. Everybody is talking about tether these days. I have no idea what that is again. Do I have to do anything with my bitcoins before this tether thing crashes? Or simply hold another few years?

It isn't stupid to ask IMO.
Very briefly:
Tether, as per the FAQ pointed above, is a substitute for USD pegged 1:1.
It's being used to add fiat-like liquidity.
There are worries of over-creation of tether (fractional reserve), along with more complex hypotheses.
If it is a fake, and it pops, there will be some blood and unpleasant consequences on BTC price.
However, bitcoin has lived through worse events (Gox, for example). If one believes in the long-term future of bitcoin, tether shouldn't be able to sway their course of action for the long run.

TL;DR: Just hodl.

Thanks! I wish I would have paid out 50% at ~20k. Holding for another 2-3 years, long time.

[mindrust]

Who cares? As long as at least 1 person does some mining, we are fine.

I'm actually looking to pick up at least 1 S9-performance-equivalent miner, just to keep a single system mining for the principle of it, to go along my full node and LN node.

Don't want to support Bitmain.

Doesn't seem I have any other options available to me at this time.

Here's hoping those products out of Japan come online soon, or dare to dream Bitfury ever reconsiders coming back down to earth.

I heard Canaan is a decent company.

If you don't want Canaan stuff, you better wait for the upcoming products from either Halong Mining or GMO.

btw, I don't have anything against miners as long as they don't act like retards. I would mine bitcoin and secure my investments too if i had the chance. But this whole ASIC thing and lack of customer support/bad distribution network moved me away from it. Now i'm mining BURST because its goddamn easy to do so.

[podyx]

Ethereum keeps creeping up and taking over market share. Will ethereun slowly take over bitcoin? Kinda seems like its possible

[d_eddie]

Ethereum keeps creeping up and taking over market share. Will ethereun slowly take over bitcoin? Kinda seems like its possible

Just wait till they want to use it for real transactions 

[Torque]

Ethereum keeps creeping up and taking over market share. Will ethereun slowly take over bitcoin? Kinda seems like its possible

Just wait till they want to use it for real transactions  

Demand for Cryptokitties is strong bro  

[marcus_of_augustus]

looking like a sideways breakout is in progress until early feb ...

[sirazimuth]

sideways breakout... well I guess thats good for those with a heart condition...
then again, if you have a heart condition, you sure as hell shouldn't be bitcoining....

[Icygreen]

Ethereum keeps creeping up and taking over market share. Will ethereun slowly take over bitcoin? Kinda seems like its possible

Just wait till they want to use it for real transactions  

Demand for Cryptokitties is strong bro  

I hear cryptotitties will overtake it tho? https://www.producthunt.com/upcoming/cryptotitties

[d_eddie]

Ethereum keeps creeping up and taking over market share. Will ethereun slowly take over bitcoin? Kinda seems like its possible

Just wait till they want to use it for real transactions  

Demand for Cryptokitties is strong bro  

I hear cryptotitties will overtake it tho? https://www.producthunt.com/upcoming/cryptotitties

Don't talk titties to me, man. One thing I sorely miss from the everyday ATH season!

On second thought, it's actually a pair of things.

[sirazimuth]

Ethereum keeps creeping up and taking over market share. Will ethereun slowly take over bitcoin? Kinda seems like its possible

Just wait till they want to use it for real transactions  

Demand for Cryptokitties is strong bro  

I hear cryptotitties will overtake it tho? https://www.producthunt.com/upcoming/cryptotitties

sometimes I actually wonder if this whole crypto thing is just one mega giant hoax (bigger than the religion one)
perpetrated on the greed of all of humanity by space aliens...

[bones261]

sometimes I actually wonder if this whole crypto thing is just one mega giant hoax (bigger than the religion one)
perpetrated on the greed of all of humanity by space aliens...

No need for space aliens. It's the Illuminati.

[TERA2]

I dont need anything to go to the moon. Im just sitting here hoping for the arb gab with coinbase to close so i can withdraw... is that too much to ask

[JayJuanGee]

Where have all the big blockers gone?  

Where is our friend Gab0? Where is Peter R?  Who will lecture us on the burning necessity of big blocks now that they are no longer with us?

Should we start an “adopt a big blocker” program ?

Calling all BIG BLOCKERS.



HELLO??



Are you there?




HELLO?  



Echo,    Echo,






Echo.



I note that we probably should not taunt or invite BIG Blockers, because some of those nutjob Roger Ver(y) supporters might just show up and ruin our MMMMMoooooooo.

[JayJuanGee]

WTF happened to the mempool? This is not the bitcoin i know. (i kid, i still remember 0 fee tx's)

Fees are as low as 1-10sat/b right now. I mean. What the fuck? https://bitcoinfees.earn.com/

Could it be that those spamming fucktards finally realized if bitcoin goes down they do too?

Didn't I see another post in this thread that gave a pretty decent rationale?  

It seems that the ongoing spamming was costing a pretty decent chunk of change on an ongoing basis, and it was seeming not to pay off, and it was also seeming to have some opposite effects too.  First of all the cost of keeping it going, and second of all it was causing greater financial motivations for the implementation of lightning - which was not a desired outcome.

checks out with what i said 2 messages above.

Now they have no other chance other than being competitive/cheap. Or else LN will destroy them.

We may have to actually wish luck to them.. just as a token of our condolences.

[El duderino_]

Breaking 24777$ prediction game      FINAL LIST       

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18/12/2021 luckygenough56

UPDATE     AND GOOD LUCK          mmmm going on holiday tuesday would be nice on holiday times the price would be going UP then the holiday gets so much nicer

[JayJuanGee]

Just because a certain exchange is in the lead of a trend does not mean that they are leading the price movement.

Sure.  I would welcome alternative explanations of what is going on in the market because I am trying to puzzle it out.  I am not saying that I am right. 

I was not accusing you of anything like that, but I just wanted to point out some possible misleading inferences in your post language.  And, over the years, several of us have read the kinds of inferences that were frequently made about "china leading" or even skorea leading or Japan, and the lead follow is much more complex than that, and likely changes with time and remains a kind of symbiotic relationship between exchanges with some exchanges having more credibility and pull than others, even if they might not actually lead in trade volume... Bitstamp, for example... has retained decent amount of persuasive power.. even though from time to time, it has gotten out of sync with the prevalent BTC prices, too.