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

[itod]

so they just need a few kb right now?

Luke Dashjr was right, block size should be reduced to 0.3 MB, not enlarged. Those big blockers will never get it.

[HI-TEC99]

I would trust 0 confirms for small every day microtransactions like groceries. Worse case if someone manages to pull off a sophisticated double spend attack while standing at the checkout line, then the merchant can put that person on a crypto blacklist and mail them a bill

With RBF it can be made trivial. Don't trust 0-confirms for anything you wouldn't trust a scribbled IOU for.

+1 Don't trust 0-confirms unless someone invents some new sytem to make it safe.

I had to tell a number of people their transaction had been double spent while helping people confirm stuck transactions last year. Explaining it was too late to retrieve their coins was an unpleasant experience. This is one example.

...

Blockcypher says it's a double spend. A few minutes ago the blocktrail explorer said that transaction didn't exist, and that the receiving addresses were unknown, but now it's saying the transaction is confirmed and the receiving addresses have coins in them.


https://live.blockcypher.com/btc/tx/8a73ed525dd603b6c8bc8d6b4ea8550e54f9f30a22588efc1c9fa6beea610138/

WARNING: This transaction has been double-spent by 2bcd9c1e3df0ba96aad50798c6074..., be extremely careful when accepting this transaction!

This is the other transaction from the double spend.

https://live.blockcypher.com/btc/tx/2bcd9c1e3df0ba96aad50798c6074b5b2aa2b03b9a9d727172fc344fb095831e/

[KyleSpades]

700 btc wall for 500 USD in both directions. Looks like it's gonna be staying around 9000USD for a few days at least...

Do you guys sincerely believe a single btc will be worth 1kk someday? I mean, there would have to be some massive acceptance and replacement over fiat currencies around the globe. I don't know, seems unlikely. At last while its used as an investment and not as currency.

As an investment, though, 50 to 100k could be a nice goal in a reasonable time span, don't you think?

[jojo69]

Do you guys sincerely believe a single btc will be worth 1kk someday?

Due to it's deflationary and borderless nature, central banks will eventually be forced to hold BTC as a portion of their currency reserves.

This battle is already over, there is just a great deal of hand wringing and gnashing of teeth that has to happen before it becomes obvious,

[hodl_2015]

Isn't Bitcoin a wonderful way to learn patience and serenity?

After 4 years of bitcoin, I recently added some cold hard stock into the mix, to at least have some appearance of financial responsibility. All I can say is that it is even more boring than I feared. There is only traded going on a few hours a day and most of that doesn't overlap with my spare time, and weekends really test my patience since there is NOTHING AT ALL going on until Monday afternoon, or even Tuesday because NASDAQ computers take some Mondays off.

[B1tUnl0ck3r]

So really all I know is that they intended to "scale" by increasing the blocksize. ... Has anything changed? Are they proposing realistic alternatives to lightning for scaling? Are there new developments that I should be aware of?

0 confirmation transactions. No, seriously - that's the amazing and innovative feature bcash has implemented to try to compete with lightning.

What, did they get some sort of commitment from a federation of miners/pools that when they receive conflicting transactions in their mempool they will mine the one they encountered first rather than the one with the larger fee? That could be done with like 2 lines of code. If it's more interesting than that than I will go do some research.

You mean disabling replace by fee?

Does that mean all I have to do to double spend is send the funds to myself seconds before I send them to the victim?

If the protocol is first transaction gets blockspace, the victim's transaction won't find its way into a block. Double spend will fail, but legitimate RBF transactions could be impossible.

There is no way to know when a transaction was issued. All a big miner can know is when he first saw it and he could share it with all of the other big miners. Then someone who is being paid could reach out to the big miners and ask if they have yet witnessed any conflicting transactions. If the answer is no and the receiver is aware of the miners policy of accepting the first transaction that they encounter in the event of conflicts, the receiver could then relatively reliably trust a 0 confirmation transaction. A degree of centralization in mining would help with this. I am imagining this is what jbreher meant by "bcash has 0 confirmation transactions". If it is than I'm not interested, if it's something else than I am.

have the pools ever banned transactions? will it become more common with segwti? think democrats who would want to ban assange from receiving btc... this type of behavior, and their tracks records and immunity make it realistic if it's technically possible....  thanks for your comment.

Isn't Bitcoin a wonderful way to learn patience and serenity?

After 4 years of bitcoin, I recently added some cold hard stock into the mix, to at least have some appearance of financial responsibility. All I can say is that it is even more boring than I feared. There is only traded going on a few hours a day and most of that doesn't overlap with my spare time, and weekends really test my patience since there is NOTHING AT ALL going on until Monday afternoon, or even Tuesday because NASDAQ computers take some Mondays off.

they need time fuck their sugar babies with the fiat printed... don't get fooled.

[infofront]

No. I don't EVER trust 0 confirmations. That's not how its supposed to work in Bitcorn.

Yet it did. Work, that is. Hmm.

Before I metaphorically rip you a new asshole, please show me the part in the Bitcoin white paper that tells us to trust 0 confirmation transactions.

...and the counter would be, show me in the original whitepaper where it says use LN or some other equivalent. Just because it specifically doesn't exist in the original text doesn't mean it can't in the future. 0conf acceptance is a choice and certainly reserved for those you deem "trustworthy" (friends/family) or for immaterial amounts. If you don't care to use them, don't. Having said all this, I think BCH is a joke.

Satoshi strongly implied the need for second layer solutions later on. Meanwhile, the entire fucking premise of bitcoin is based on "Don't trust, verify", but the backwards bcash 0-conf crowd is basically saying "Trust, and maybe verify. But verification isn't really needed, since we trust Jihan Wu, Roger Ver, and Craig Wright so much".

[infofront]

Coinbase Blocks Wikileaks Shop Without Notice

Another day, another shady, fucked up thing Coinbase is doing.

[explorer]

Doesn’t seem to be able to break over $9,000

looks like its going to happen

resistance is futile, 10k next week

If it goes upwards from 9500$ yes.

Profound, dude.

[explorer]

Still thinking this is complete nonsense but ...

https://bircoin.top/

We are 3% ahead of the prediction

The reason it's nonsense is because the amount of bitcoin holders who still hold hundreds and thousands of bitcoins vastly outweigh (in coins) the number of new users that could push the price to $1M by buying what little amount of bitcoin is on the exchanges. And the float is only getting thinner each year.

I mean, there were n00bs still able to buy whole bitcoins just last year. Who wouldn't sell them all at $1M in just 3 years? Who wouldn't dump a few, or ten, or a hundred at that price point? Many would.

Point is, because of the increasing selling impetus as the price climbs higher, I think it'll take a LOT longer for us to reach $1M/btc. Probably like 10-15 years. Extremely doubtful in just three years. Unless ETFs come on board and wanna just leverage up the price to the moon overnight, but they have to know this will spark some heavy selling.

I expect 1 million will come in a rush within the next few years.  It will also disappear as fast and as hard as every other major peak, with the Mayor on suicide watch as per usual.  Stability in 7 figures, if possible at all, is a long way out.

[KyleSpades]

Do you guys sincerely believe a single btc will be worth 1kk someday?

Due to it's deflationary and borderless nature, central banks will eventually be forced to hold BTC as a portion of their currency reserves.

This battle is already over, there is just a great deal of hand wringing and gnashing of teeth that has to happen before it becomes obvious,

That's actually very nice to hear. I do hope banks start making such moves soon. Whenever people hear about banks buying coins to hold, it's gonna be a bullish flood all over.

That post a few pages back showing the growing trend of btc ATMs installation is also a great sign.

[Toxic2040]

Due to it's deflationary and borderless nature, central banks will eventually be forced to hold BTC as a portion of their currency reserves.

This battle is already over, there is just a great deal of hand wringing and gnashing of teeth that has to happen before it becomes reality.

*edited for clarity*   
Love ya jojo..carry on.

Boring ice cream cone formation spotted on charts according to one daughter..  #dyor


Cant always be bullish say's the other daughter..   #dyor


Hmmm says I.



Happy #EarthDay

[explorer]

Every day is Earth Day, until we have somewhere else to ransack Pillage go.

[B1tUnl0ck3r]

this pic hurt our censor... it would make such a great btc meme ...

anyway...



I prefer to see a 1000 drop than this pic 

[Syke]

have the pools ever banned transactions?

Yes, pools started banning dice transactions, ie spam.

[oblox]

No. I don't EVER trust 0 confirmations. That's not how its supposed to work in Bitcorn.

Yet it did. Work, that is. Hmm.

Before I metaphorically rip you a new asshole, please show me the part in the Bitcoin white paper that tells us to trust 0 confirmation transactions.

...and the counter would be, show me in the original whitepaper where it says use LN or some other equivalent. Just because it specifically doesn't exist in the original text doesn't mean it can't in the future. 0conf acceptance is a choice and certainly reserved for those you deem "trustworthy" (friends/family) or for immaterial amounts. If you don't care to use them, don't. Having said all this, I think BCH is a joke.

Satoshi strongly implied the need for second layer solutions later on. Meanwhile, the entire fucking premise of bitcoin is based on "Don't trust, verify", but the backwards bcash 0-conf crowd is basically saying "Trust, and maybe verify. But verification isn't really needed, since we trust Jihan Wu, Roger Ver, and Craig Wright so much".

The argument was specifically as it related to the whitepaper, not what was said later on.

...further if the entire premise of Bitcoin is based on not trusting and verifying for yourself, then SPV wallets should not exist and everyone should be independently verifying transactions with their own full blockchain. Yet low and behold, plenty use SPV wallets for convenience.

[B1tUnl0ck3r]

have the pools ever banned transactions?

Yes, pools started banning dice transactions, ie spam.

nice!!! bitcoin should rally on this new!!! thank you for sharing... who decided what spam is? the pools... okay.

...then SPV wallets should not exist and everyone should be independently verifying transactions with their own full blockchain.

with some spv wallet you can connect to your own node, otherwise it's even less privacy

[El duderino_]

And my last Smerit saved for This saturday evening go’s to you....

Goossens is out of sMerits ? This simply will not stand.

THX for thinking that way BUT most of all .........



YOU just qouted it like a sentence in the big lebowski and that tattoo'd all on my underarm under the BTC roller
just funny 

do realize the lebowski ain't finisht yet still work on that one     normal the "this will not stand man " gonna get a space as wel
LOL

[El duderino_]

But a micgoossens whitout BTC would be more worse 
However coming saturday iT wil not be the last Smerit story for sure iT wil be a drunk one, but boblawblaw took
Care for the coming time of sharing Smerit ✌🏻

[Toxic2040]

And my last Smerit saved for This saturday evening go’s to you....

Goossens is out of sMerits ? This simply will not stand.

THX for thinking that way BUT most of all .........


YOU just qouted it like a sentence in the big lebowski and that tattoo'd all on my underarm under the BTC roller
just funny  

do realize the lebowski ain't finisht yet still work on that one     normal the "this will not stand man " gonna get a space as wel
LOL

+10 WOsMerits   

the Goose wins the thread.  /imout