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

[Torque]

The point is that people who are not shilling anything are being called shills. It's exactly the same process as when lefties call peoples nazis. It doesn't mean anything anymore, beyond "shut up".

The point is that people who come in here criticizing Bitcoin for being somehow broken, or not working as intended, when the exact *opposite* is true, do need to be told to SHUT THE FUCK UP.

So, really this time, positive things about bcashers.

Why don't you fuck off if we don't care to answer your fkn forced question that no one asked for or even gives a shit about? BCashers are deluded idiots, sorry.

[cAPSLOCK]

If you haven't seen this before it's worth a watch.

Andreas explains why Big Blocks are not going to work. (watch time: 5-6mins, Petabyte Blocks & Streaming Money)

https://youtu.be/AecPrwqjbGw?t=11m39s

he is talking about how big block sizes would make bitcoin centralized (because he knows how Computing technologie would develop in the next 10 years ofc.)

Even if so: LN is by design centralized.


So whats that argument even about?

I think your assertion that LN is centralized needs proof, Jonald.  To the extent LN becomes a distributed network with nodes that handle different amounts of traffic we could arguably move in the direction of less centralization but there are two points worth making.

Early days.  The protocol can be extended to improve it's distribution.

High speed, low fee payments, Improved privacy, cross atomic swaps, deferred settlements, all outweigh the small amount of centralization, imo.

[Torque]

For the current leg, and I repeat myself yet again, why was segwit better than simply doubling the blocksize? Nobody seems willing to explain that bit, for whatever reason.

Answer why doubling the block size is even needed at this point in time. With actual logic and facts to back your argument.

[xhomerx10]

OT: Here's video of a cute market analyst talking about the current Chinese stock market.
https://www.bloomberg.com/news/videos/2018-06-28/are-china-markets-having-a-2015-moment-video

Notice that through the entire short video, there's absolutely no discussion at all of the actual underlying Chinese economy itself and whether the market accurately reflects it or not. Just a bunch of blather about possible de-leveraging and the Chinese government's ability to manage the markets effectively or not.

Point? Fake, propped up market completely decoupled from reality.

Yup, thought she was a 7 at first, but then she started talking. 6/10 would not invest.

Every year China financial analysts bet each other on the 2nd and 3rd figures in the growth figures to be announced. Obviously it's gonna be 6.8something percent, but what exactly? 6.811%? 6.873%?

also ot: a great if old report on China consumer https://twitter.com/3747S_14458E/status/1012295079996764161

China, double figure grow at any price, yes thats right no room on bicycle way because of bicycles.
https://www.theatlantic.com/photo/2018/03/bike-share-oversupply-in-china-huge-piles-of-abandoned-and-broken-bicycles/556268/
Lets not even talk about the cityes build in some remote place and can house millions

 Dude, we've already visited the China/bicycle issue in this thread; been there meme'd that.  Try to keep up!

Hey look guys, it's no wonder that China's economy is so strong 'cause they've been busy manufacturing things that people want! They can't keep up with demand, lol

https://www.theatlantic.com/photo/2018/03/bike-share-oversupply-in-china-huge-piles-of-abandoned-and-broken-bicycles/556268/

 I don't really have a need for a surplus bike atm... too bad the bicycles weren't Bitcoin.



...dreaming

[Ibian]

The point is that people who are not shilling anything are being called shills. It's exactly the same process as when lefties call peoples nazis. It doesn't mean anything anymore, beyond "shut up".

The point is that people who come in here criticizing Bitcoin for being somehow broken, or not working as intended, when the exact *opposite* is true, do need to be told to SHUT THE FUCK UP.

Never said that. I said that bigger blocks would have been a better solution. Can you explain why I'm wrong, with something other than emotional outbursts?

[Rosewater Foundation]

and I repeat myself yet again

 

[Torque]

Never said that. I said that bigger blocks would have been a better solution. Can you explain why I'm wrong, with something other than emotional outbursts?

Answer why doubling the block size is even needed at this point in time. With actual logic and facts to back your argument.

Or, ya know, stfu.

[Anon136]

Even if so: LN is by design centralized.

This is the big fallacy. Bro, Even if LN is centralized (debatable but it is more centralized in some aspects by necessity) that doesn't make Bitcoin more or less centralized because Lightning Network ISN'T BITCOIN.

[Ibian]

For the current leg, and I repeat myself yet again, why was segwit better than simply doubling the blocksize? Nobody seems willing to explain that bit, for whatever reason.

Answer why doubling the block size is even needed at this point in time. With actual logic and facts to back your argument.

Stop putting words in my mouth already.

[Ibian]

Even if so: LN is by design centralized.

This is the big fallacy. Bro, Lightning Network does't make bitcoin centralized because Lightning Network ISN'T BITCOIN.

So it's not bitcoin being moved around?

[Anon136]

Even if so: LN is by design centralized.

This is the big fallacy. Bro, Lightning Network does't make bBitcoin centralized because Lightning Network ISN'T BITCOIN.

So it's not bitcoin being moved around?

Sorry you are right. FTFY

[Torque]

For the current leg, and I repeat myself yet again, why was segwit better than simply doubling the blocksize? Nobody seems willing to explain that bit, for whatever reason.

Answer why doubling the block size is even needed at this point in time. With actual logic and facts to back your argument.

Stop putting words in my mouth already.

I can't put words in your mouth, because your foot is stuck in there already.

Quit trollin'.

[xhomerx10]

Ok. I will learn to steal groceries. Let's do this thing.

Are we so poor now?

Damn, this is getting ugly too fast.

 Guys, we don't need to resort to theft; there is food for hodlers:



 ...and less sodium means less blockchain bloat.

[Last of the V8s]

@crandl
Rumors circulating that Facebook buying @coinbase for $18BB and investors euphoric after $8.5BB last round. Crypto experts think @RobinhoodApp a much better buy.for $FB .  #bitcoin #crypto @zerohedge
5:06 PM - 28 Jun 2018

FAKE NEWS
aka 'buy my bags'

[infofront]

I've been reading anonymint's writings for the past week or so, which also prompted me to dive into some other rabbit holes.

I'm more convinced now of the dangers of segwit. Don't mistake that for being a promotion of bcash.

[Ibian]

Even if so: LN is by design centralized.

This is the big fallacy. Bro, Lightning Network does't make bBitcoin centralized because Lightning Network ISN'T BITCOIN.

So it's not bitcoin being moved around?

Sorry you are right. FTFY

Is that a yes or no?

[Ibian]

I've been reading anonymint's writings for the past week or so, which also prompted me to dive into some other rabbit holes.

I'm more convinced now of the dangers of segwit. Don't mistake that for being a promotion of bcash.

They will.

[Gab0]

I've been reading anonymint's writings for the past week or so, which also prompted me to dive into some other rabbit holes.

I'm more convinced now of the dangers of segwit. Don't mistake that for being a promotion of bcash.

Could you provide me with a link where I can read about that? I remember anonymint's post, but I did not pay enough attention and now I can not find it.

[Karartma1]

I've been reading anonymint's writings for the past week or so, which also prompted me to dive into some other rabbit holes.

I'm more convinced now of the dangers of segwit. Don't mistake that for being a promotion of bcash.

On the same page here man.
What shocked me is that the more the SegWit/LN bounty grows in value the more likely an anyonecanspend attack becomes likely.
Yes, sure as hell you (me) are not a bcash proponent.
But we have to question everything and never take anything for granted, especially when some of the clues are there.
 

[fluidjax]

If you haven't seen this before it's worth a watch.

Andreas explains why Big Blocks are not going to work. (watch time: 5-6mins, Petabyte Blocks & Streaming Money)

https://youtu.be/AecPrwqjbGw?t=11m39s

Segwit in its current form can't handle hundreds of millions of users either. That was never what it was about. We needed a step up, a year earlier than we got it, and we had a few options to do so. For the current leg, and I repeat myself yet again, why was segwit better than simply doubling the blocksize? Nobody seems willing to explain that bit, for whatever reason.

Because Segwit is an upgrade that enables many new technolgies, L2 & L3. Technologies that will enable millions of TX's per second.

We don't need an incremental step in the wrong direction, as perfectly illustrated by Andreas, big blocks can never fullfill the Bitcoin dream, because PetaByte blocks are effectively impossible.

I guess if you think doing the wrong thing as a temporary fix, and incurring the associated Technical debt is OK. There is little I can do to defend segwit, but in my mind and the minds of many other developers, it's not acceptable, so Big Blocks are not an option at all.