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

[realr0ach]

People who praise Lightning Network as being a good thing have got to be the dumbest people walking the planet.  Forgot the millions of other issues with LN, the simple fact that each channel you open's balance does NOT provide liquidity to other channels you have open forces it into a system of liquidity providers - TBTF banks on the blockchain.  Meaning if you have say, $1000 to your name, and you have 10 channels open with the grocery store and whoever else all with $100 in each one, those channels cannot be combined to make a $500 payment somewhere else.

The only possible evolution of such a system is the common end user having only A SINGLE channel open with a bank, and then that bank routes their payments to other channels while charging them usury fees EXACTLY like the banking system that already exists.  Once this LN system is in place with everything routed through the bank hubs, there is no reason for the base bitcoin network to exist because LN takes precedent.  You can close down bitcoin and they can replace bitcoin tokens with any other kind of token or go completely fractional reserve. Lightning network is the biggest scam conjob on the face of the earth.  

Some people are going to claim LN can somehow be made to function by having things all automatically route around at random without going through any centralized gateways, but this is complete bullshit.  The characteristics of channels themselves and the overhead to create one is designed in a manner that severely promotes vendor lock-in to one external party you generally never change or seldom change.  There is no logical reason to have any type of constantly morphing topography or constantly changing routes through that topography.  It would be a very stale and centralized system like a normal highway.  People would open a single channel to Bank of America then never screw with it again because it's the most efficient route.  

So without further delay, this is the only possible way LN can function:

[babanana]

Really I don’t have time for this right now. But I will be back at the right time. I would rather let Core dig a deeper hole for themselves first. Why interrupt the enemy when they are in the process of destroying themselves.

I thought you really have some arguments but sentences like this marks you as a bcash shill.
If you are really that smart and see problems where dozens of developers don't, join them and help to make bitcoin better. Instead you are fighting a personal war with your "enemy". I can't take you serious anymore.

edit: this looks like a pre mempool spam campaign. bring people back to legacy addresses, spam mempool, profit from higher fees?

Exactly. He is trying to spread FUD and make people use legacy addresses so his team of thieves will be spending less resources to fill the blocks.

Mass spam attack incoming.

I see him as a wannabe. But lets give the benefit of doubt.

[xhomerx10]

I'm going to bed.

and miss all the fun

https://www.ccn.com/european-union-wont-wait-for-global-agreement-on-cryptocurrencies-spanish-minister-reveals/

https://www.zerohedge.com/news/2018-06-28/malekan-2018-shaping-be-tipping-point-institutional-embrace-bitcoin

https://www.barrons.com/articles/fed-limits-payouts-at-goldman-sachs-morgan-stanley-1530220016



Buckle up

 Thanks!  Good information in those links.
  I had to go to bed early though - last day of the school year, excited child, no rest for the wicked etc...

OT: Meanwhile in the "No one seems to give a shit but really should give a shit" news :

https://finance.yahoo.com/news/deutsche-banks-u-operations-fail-second-leg-fed-203401923--sector.html

  Actually, this info was in the barrons link mymenace posted last night though the article you posted is perhaps slightly more detailed.

 

[fabiorem]

BCash Observer Ver/LN - Ego war movement tracking & discussion.

[realr0ach]

last of the v8s last of the pro-cashless society slave system, anti-silver and gold trilemma shills

fixed

[Speculatoross]

What if BTC reach 5k$ and stays like that for, idk, 15 years?
No whales bs, no trades speculation, no any no-sense

Could we start spend it like if it was a decentralized cryptocurrencies?

Is this a possible world?

[infofront]

Seems like you are transitioning over to the darkside, infofront?

Nein. Just trying to think about bitcoin more critically. I won't be pulling an Adam.

[LFC_Bitcoin]

What if BTC reach 5k$ and stays like that for, idk, 15 years?
No whales bs, no trades speculation, no any no-sense

Could we start spend it like if it was a decentralized cryptocurrencies?

Is this a possible world?

I doubt it’s possible the price could stay at $5,000 for 15 years. Miners wouldn’t be able to turn a profit even after the next halving at $5,000. 15 years will see 4 block reward halvings (including the one in 2020).

Most miners would have to turn off their machines & stop business in 2024 at a rate of $5,000 per bitcoin.

[fabiorem]

I won't be keeping my cold storage coins in a segwit address though.

None of mine are in segwit addresses.

Months ago I asked some technical questions about segwit addresses not having private keys, and nobody answered. Since then, I only used segwit addresses as entry adresses, but not as storage.

[mindrust]

I won't be keeping my cold storage coins in a segwit address though.

None of mine are in segwit addresses.

Months ago I asked some technical questions about segwit addresses not having private keys, and nobody answered. Since then, I only used segwit addresses as entry adresses, but not as storage.

According to the doomsayers and FUDcallers, this is not going to save you.

Your coins need to be on a pre-fork/non-segwit address. Any coins you receive after the fork will most likely to have a segwit background. Since the adoption grows, the chances of getting non-segwit coins are becoming less and less. *fudcaller denied this.

These doomsayers and fudcallers basically want you to dump and not use segwit and threatening us with a %51 attack. (they are after reverting all the segwit transactions btw) *denied this too.

If they do a successful %51 attack and manage to hurt countless people, there will be a bounty for their fucking heads.

If you get scared and don't use segwit addresses, then segwit adoption will slow down and eventually we'll go back to where we have started and then they'll be pushing for a block size increase again.

As I said before, they are nothing but a bunch of *aggots.

[doc12]

According to the doomsayers and FUDcallers, this is not going to save you.

Your coins need to be on a pre-fork/non-segwit address. Any coins you receive after the fork will most likely to have a segwit background. Since the adoption grows, the chances of getting non-segwit coins are becoming less and less.

That is not true. I already corrected that mistaken thinking. Please see my reply to vapourminer.

Again I will delete this post.

Protection is provided by hodling in legacy addresses regardless of the lineage.

What rational individual would choose to not hodl in legacy addresses. Why take on the risk? Because you love Core? Oh please go ahead. Hodl in Core addresses. So then if ever the hardfork comes, you will not be able to sell the Satoshi tokens and buy Core tokens if you want to support Core.

But then that sort of indicates that Core is a failure if nobody can ever trust to hodl their addresses.

The game theory is undeniable.

Its not "Core" its Bitcoin and a big blocks hardfork is only existent in your dreams, deal with it.

Segwit is part of bitcoin now and no sane miner will burn his business by attacking bitcoin.

[fabiorem]

If you get scared and don't use segwit addresses, then segwit adoption will slow down and eventually we'll go back to where we have started and then they'll be pushing for a block size increase again.

I dont use segwit for storage, not because of the FUDsters, but because it was not clear if the segwit adress use the same private key of the legacy adress that was used to create it, or if it dont have a private key at all. Since this was never cleared, I keep the cold storage in legacy adresses. Today, this dont make too much of a difference, since the fees are very low.

A legacy address start with 1, a segwit start with 3. This was technically cleared, and it dont matter when the address was created.

[mindrust]

If you get scared and don't use segwit addresses, then segwit adoption will slow down and eventually we'll go back to where we have started and then they'll be pushing for a block size increase again.

I dont use segwit for storage, not because of the FUDsters, but because it was not clear if the segwit adress use the same private key of the legacy adress that was used to create it, or if it dont have a private key at all. Since this was never cleared, I keep the cold storage in legacy adresses. Today, this dont make too much of a difference, since the fees are very low.

A legacy address start with 1, a segwit start with 3. This was technically cleared, and it dont matter when the address was created.

I agree for hodlers it doesn't make a difference.

But then if the threat is real, why use segwit addresses or bitcoin completely at all? You wouldn't even use bitcoin and probably want to dump it away if you even have the slightest doubt about his security.

See what the Fudcaller have done to you?

Now you have doubts and thinking if btc is safe or not. Safety is the #1 selling point of bitcoin.

[jbreher]

%43 btc dominance

Well, at least we get a silver lining.

"we"  ? 

Are you one of the described "we", jbreher?

Of course. If you don't know I have significant holdings of BTC, you haven't been paying attention.

[jbreher]

So even if you have some skepticism of segwit, it might be prudent of you to support the actual (rather than hypothetical) direction of bitcoin by storing a portion of your coins on segwit, even if, you decide to follow through and store the vast majority in legacy addresses

All right, I'll bite...

What about storing some value on a segwit address is prudent?

FUCK off. Your BTrash is a trash coin. A shitcoin. don't leave your shitcoin here. Open your own fucking thread moron.

I did not say anything about BCH. The topic is clearly segwit.

What the fuck are you talking about...

Why don't you start your own thread and stay there you MORON.

Why would I discuss segwit on an unrelated thread? Are you really that daft?

Go away.

No.

DealWithIt.png

[rolling]

What if BTC reach 5k$ and stays like that for, idk, 15 years?
No whales bs, no trades speculation, no any no-sense

Could we start spend it like if it was a decentralized cryptocurrencies?

Is this a possible world?

I doubt it’s possible the price could stay at $5,000 for 15 years. Miners wouldn’t be able to turn a profit even after the next halving at $5,000. 15 years will see 4 block reward halvings (including the one in 2020).

Most miners would have to turn off their machines & stop business in 2024 at a rate of $5,000 per bitcoin.

What a bunch of BS. Break even for an S9 mine right now is around $5000/BTC. There is more to mining than electricity! By 2024, it will be closer to $500k/BTC break even.

[mindrust]

But then if the threat is real, why use segwit addresses or bitcoin completely at all? You wouldn't even use bitcoin and probably want to to dump it away if you even have a slightest doubt about his security.

See what the Fudcaller have done to you?

Now you have doubts and thinking if btc is safe or not. Safety is the #1 selling point of bitcoin.

Now you’re starting to understand the game theory. Only Satoshi’s protocol can ever be secure. And that is what we are using. If you’re using that Core altcoin, then you will end up on that altcoin. Enjoy.

FUCK YOU AND YOUR SATOSHI PROTOCOL

FUCK OFF FROM THIS THREAD

WERENT U SAVING THE FUCKING WORLD?

*op kick this *aggot away please. he is offtopic

[jbreher]

This is the 10-th time I read about it this week. Facebook buying Coinbase?

Last night, I attended an invite-only recruitment soiree hosted by FB.

That is all.

[Torque]

All shitcoins are slowly bleeding back into Bitcoin on every dip.   

Deal wid it.   

[mindrust]

FUCK YOU AND YOUR SATOSHI PROTOCOL

FUCK OFF FROM THIS THREAD

*op kick this *aggot away please. he is offtopic

Hey nim nuts, the OP of this thread started the segway about my analysis of the SegWit donations issue which I was discussing in a different sub-forum. And I put all my replies on this topic in one last post.

And please do put your addresses all on Core. I am going to be laughing when you lose everything.


(this post will be deleted).

This is the wall observer thread you fuckface gtfo and start your own thread.