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

[Rosewater Foundation]

Ho hum. Round-out your WO's collection with you very own Jimbo. Complete with bass axe and super glutens. The ice man cometh.

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[bitserve]

4th installment of the Andreas Breken's Lightning Network series is already out:

https://medium.com/andreas-tries-blockchain/bitcoin-lightning-network-4-what-happens-when-you-close-half-of-the-lightning-network-b25b330dfad2

"Bitcoin Lightning Network #4: What happens when you close half of the Lightning Network?"

TL;DR: Nothing happens, LOL

[JayJuanGee]

Bbut... but Anon, it's like when you want a car engine to 'scale' to higher horsepower and speed, the most straightforward way is to simply add more cylinders!  V32 engines for everyone so we can get places faster, amiright?  /s

Stupid analogy is stupid.

If you want a transportation analogy, a closer analog would be passenger demand for a certain train route exceeding capacity solved by adding more passenger cars to the train.

Still a stupid analogy, but an order of magnitude closer to the situation at hand.

https://txstreet.com

?

TxStreet.com

TxStreet.com is a Bitcoin Cash (BCH) and Bitcoin (BTC) live transaction visualizer inspired by txhighway.com. This website helps users understand the mempool and blocksize in an easy way.

When a new transaction is broadcasted to either the BCH or BTC network, a person appears and attempts to board a bus. If the mempool size is lower than the block size limit, then they board a bus and wait for the next block to be found. If the mempool is bigger than the block size limit, then they will have to wait in line before boarding a bus.

The movement speed of the person represents how high a fee they paid in sat/B. The size of the person represents the size of the transaction in bytes.

Segwit transactions will board the segwit bus.

BCH currently has 32 buses representing a 32MB block size limit. BTC has two buses representing the 1MB block size limit and 4MB block weight (segwit).

When a block is found, both BTC buses will leave for the blockchain. For BCH, only the required number of buses will leave. For exmaple, if there is a 1.7MB block found, only 2 BCH buses will leave for the blockchain. If there is a 31.5 MB block found, all 32 BCH buses will leave.

This is a beta version of this website. Many more features are planned.

LOL genius. turn on the sound too.

I watched it for about 30 minutes, and it looks like nearly a pure fictional representation about what is happening or likely to happen.  Sure, it captures some ideas about what what could happen in some fictitional pie in the sky world, but its extreme fictitiousness causes it to be more propaganda rather than a worthy attempt at education. 

Furthermore, when the busses leave the station, that process is so slow and belabored that it hardly captures any semblance of reality..

I had to shut it off, who's got time for such nonsensical fiction?.

Gotta give it a thumbs down for being nearly pure bullshit.

[JayJuanGee]

4th installment of the Andreas Breken's Lightning Network series is already out:

https://medium.com/andreas-tries-blockchain/bitcoin-lightning-network-4-what-happens-when-you-close-half-of-the-lightning-network-b25b330dfad2

"Bitcoin Lightning Network #4: What happens when you close half of the Lightning Network?"

TL;DR: Nothing happens, LOL

I suppose not a bad test for the LN, and perhaps causes more serious (rather than manipulative) peeps to join into the lightning network?

[bitserve]

4th installment of the Andreas Breken's Lightning Network series is already out:

https://medium.com/andreas-tries-blockchain/bitcoin-lightning-network-4-what-happens-when-you-close-half-of-the-lightning-network-b25b330dfad2

"Bitcoin Lightning Network #4: What happens when you close half of the Lightning Network?"

TL;DR: Nothing happens, LOL

I suppose not a bad test for the LN, and perhaps causes more serious (rather than manipulative) peeps to join into the lightning network?

Yeah, I think it has been an interesting review. Even if his intentions would have been (who knows) to try demonstrate some serious flaws, we should thank him for the effort.

LN still have a long way to go in terms of usability but as an initial beta deployment it seems to be living up to expectations.

[V1lpu]

They said Bitcoin is a bubble:

[JimboToronto]

Ho hum. Round-out your WO's collection with you very own Jimbo. Complete with bass axe and super glutens. The ice man cometh.

Lawl. Pretty close but you missed the BTC on the ballcap.

Does it come in a bobblehead version?

[Anon136]

Collectivism is a good sign of weakness. It shows that you are not mentally apt enough to see people as individuals with their own thoughts and ideals. Instead you lazily put people into groups based on whatever criteria you come up with to ease your weak brain from needing to think too much.

Yea well the blacks collectivize and the hispanics collectivize and the Chinese collectivize. And all of them see white people as a collective group so they have no qualms about blaming you for the actions of other white people. If you choose not to collectivize with your people than you are going to get steamrolled by people who are willing to do that. It's that simple buddy. I would invite you to die on your hill alone, as an individual, trying to repell the endless tide of people who are willing to collectivize except that I need you with me because I don't want to die all alone on a hill taking my final comfort in that I was an individual at the end. So it's time to man up and stand with your people.

*edit* I should make a clarification. I'm not an individualist or a collectivist, I'm a necessarian. It's liberalism, and the individualism that is part of liberalism, that lead white people to the success that we found in 16th through 20th centuries and are somewhat clinging to in the 21st. We should advocate individualism where we can and collectivism where and when we must. It's a bit like violence in self defense. You don't want to go around punching people all the time to solve your problems, generally speaking violence is bad, but you need to be prepared and willing to use it when and if you must.

[HairyMaclairy]

Would a close around this levels mean a golden cross on 3d? Is a golden cross on 3d of any relevance or only on the weekly?

Dont forget during the cryptowinter we had a golden cross on the weekly in May 2014, followed by a death cross in August 2014.  We didn't get another golden cross until October 2015. 

Just because we get a golden cross on the weekly sometime soon from now doesnt mean we are out of the woods.

[infofront]

[bitserve]

Would a close around this levels mean a golden cross on 3d? Is a golden cross on 3d of any relevance or only on the weekly?

Dont forget during the cryptowinter we had a golden cross on the weekly in May 2014, followed by a death cross in August 2014.  We didn't get another golden cross until October 2015. 

Just because we get a golden cross on the weekly sometime soon from now doesnt mean we are out of the woods.

Yeah, you are right. We won't know we are out of the woods until we are... or maybe even later.

And truth to be told... the charts do still resemble very closely 2014.

[d_eddie]

Don’t believe the hype.  It was never going to happen.

Buying opportunity of a lifetime coming.  Patience.  

+1 WOsMerit.

You alleged bitcoin bulls, seem to be hopium for something, and suggesting that there is some kind of certainty.

No certainty here, but for me it wouldn't be bitcoinish to go past 10k without another plunge. Possibily harder than the recent ones.

Maybe that is how a bull slowly transforms into a bear, or goes roach, or BJA?
or turns into something totally different.. .like a bulldog?

When the world realizes it's the joos, bitcoin will go to zero because a permissionless digital token can't even exist. Silver will be the only thing guaranteed to keep its value. Woof, woof!

Get the fuck out of here with your nonsensical metamorphical theories

[HairyMaclairy]

[JimboToronto]

 

[CookieFactory]

Collectivism is a good sign of weakness. It shows that you are not mentally apt enough to see people as individuals with their own thoughts and ideals. Instead you lazily put people into groups based on whatever criteria you come up with to ease your weak brain from needing to think too much.

Yea well the blacks collectivize and the hispanics collectivize and the Chinese collectivize. And all of them see white people as a collective group so they have no qualms about blaming you for the actions of other white people. If you choose not to collectivize with your people than you are going to get steamrolled by people who are willing to do that. It's that simple buddy. I would invite you to die on your hill alone, as an individual, trying to repell the endless tide of people who are willing to collectivize except that I need you with me because I don't want to die all alone on a hill taking my final comfort in that I was an individual at the end. So it's time to man up and stand with your people.

*edit* I should make a clarification. I'm not an individualist or a collectivist, I'm a necessarian. It's liberalism, and the individualism that is part of liberalism, that lead white people to the success that we found in 16th through 20th centuries and are somewhat clinging to in the 21st. We should advocate individualism where we can and collectivism where and when we must. It's a bit like violence in self defense. You don't want to go around punching people all the time to solve your problems, generally speaking violence is bad, but you need to be prepared and willing to use it when and if you must.

Collectivizing based on something as shallow as skin color rather than morals, beliefs, or hell even politics is pure stupidity.

[Anon136]

Collectivizing based on something as shallow as skin color rather than morals, beliefs, or hell even politics is pure stupidity.

Not going to get into a drawn out debate here. I said my peace. Make a thread if you want to get into the weeds.

[JayJuanGee]

Don’t believe the hype.  It was never going to happen.

Buying opportunity of a lifetime coming.  Patience.  

+1 WOsMerit.

You alleged bitcoin bulls, seem to be hopium for something, and suggesting that there is some kind of certainty.

No certainty here, but for me it wouldn't be bitcoinish to go past 10k without another plunge. Possibily harder than the recent ones.

Hey.  Our current maximum dip during this particular correction has so far been in the territory of $5,777, and I have already asserted that I am far from certain that such numbers would be the bottom and that I will feel a lot more comfortable to be in the $10k price territory, either challenging the resistance or breaking above it, and such another run at $10k is going to put us further away from $5,777 and cause more difficulties to challenge it.

Certainly, I agree with your characterization that getting above $10k would not rule out another downward shot, and surely severe corrections remain a part of bitcoin expected ongoing price dynamics.    So, even though we have already had several tests of the $6k region, we are not so far from $6k now and even $10k would not be too far from $6k - even though going above $10k again would seem to make it much more difficult to come down to $6k and even cause $3k to $4k to be of lower probabilities.  So BTC price dynamics remains a product of price momentum, the success of FUD/FOMO spreading and changes in some of the fundamentals, including effects of various networking effects.

Funny how either scenario could still reasonably play out (that is 1) early 2013 scenario or 2) late 2013 scenario).

Maybe that is how a bull slowly transforms into a bear, or goes roach, or BJA?
or turns into something totally different.. .like a bulldog?

When the world realizes it's the joos, bitcoin will go to zero because a permissionless digital token can't even exist. Silver will be the only thing guaranteed to keep its value. Woof, woof!

Ahahahahaha.,....... Looks like an admission to me.

You are one step further than either Roach or BJA.. because neither of them would ever have admitted either a transformation or even movement in that direction.

Get the fuck out of here with your nonsensical metamorphical theories

hahahahaha

You likely realize that the bulldog was just fun... arf, woof, arf, and I think that one of the good aspects of this whole BTC price performance and experimenting with preparations for any price direction including UP, DOWN and SIDEWAYS remains learning from the process and even figuring out ways to NOT get upset when folks (including yours truly) disagree with your probability assignments)). 

Hey, if I was more bearish, then perhaps, I would have stacked up more BTC on this particular drop, perhaps?  Perhaps?  Perhaps?  I am not going to concede to change my style or even to second guess myself with various "what ifs?", even though sometimes going through the whole UP and DOWN price change process might cause me to engage in additional tweaking of my dollar versus BTC allocations.   Actually, the way up from $2.5k to $20k happened so quickly, that I personally just stuck to a plan that I already had and attempted tweaking here and there in order to attempt to feel comfortable with how fast the BTC price was going up.  The same is true on the way down from $20k to $6k-ish... have to tweak a few times based on how fast the price came down.. also a bit faster than expected.... Is it over or not?  none of us know, but we still can attempt to bet on probabilities from where we are at right now, and what we view to be more or less probable.

Yes, it could take another 3 months to play out to see if one view is more correct than another, or it could take another 3 years.. holy fuck.. hoping that it will not take another 3 years, but it is not an unreasonable (even though seemingly less probable) BTC price dynamic playing out. 

[bitserve]

Can anyone recommend me what's the best wallet for iPhone? I have been testing Jaxx and it looks good. Any opinion in it? Anything better?

Multicurrency is a plus, as I am more inclined to spending other coins than Bitcoin.

(Yes, I have done my homework and googled reviews, etc.... but now I want the opinion of real people here on WO).

[HairyMaclairy]

Preferably you want one where you can set your own fees.  Can't remember if Jaxx allows that.  Breadwallet doesnt and their fees are way too high.

[infofront]

Anybody know what's up with Gemini? It's been down for while for "maintenance".