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

[kenzawak]

Lightning Network Growing Despite ‘Crypto Winter’, Up 300% This Month

https://www.cryptoglobe.com/latest/2018/12/lightning-network-growing-despite-crypto-winter-up-a-whopping-300-this-month/

The amount of bitcoin stored on the network is of particular note, growing a whopping 300%+ in just one month. Nearly $1.6 million worth of bitcoin, in current valuation, is now stored in Lightning channels. The number of channels is up over 40% versus last month, to 13,000; and the number of nodes is up 9.5%, to about 4,400 nodes.

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[yefi]

NIce! Yes, people were following it on the BETI thread.
https://bitcointalk.org/index.php?topic=470453.0

We were supra-exponential for a bit last fall, now below the trend as your graph rightly shows.
EDIT: Bobby Lee says $333K in DEC 2021. I will sell some at 200-300K to whoever would want a piece, lol.
Last time waiting for BETI 1.5 (it would have been 28-30K or so) did not work out. It would have happened if not for CME.

Not to sound like an old fuddy-duddy, but at some point the line will not be held and we'll have to "endure" mere linear growth (this being a finite planet and all).

[PoolMinor]

Lightning Network Growing Despite ‘Crypto Winter’, Up 300% This Month

https://www.cryptoglobe.com/latest/2018/12/lightning-network-growing-despite-crypto-winter-up-a-whopping-300-this-month/

The amount of bitcoin stored on the network is of particular note, growing a whopping 300%+ in just one month. Nearly $1.6 million worth of bitcoin, in current valuation, is now stored in Lightning channels. The number of channels is up over 40% versus last month, to 13,000; and the number of nodes is up 9.5%, to about 4,400 nodes.

[imghttps://i.imgur.com/dXkhpKB.jpg[/img]http://[imghttps://i.imgur.com/VG5nZ1a.jpg[/img]

This is great until you realize that the entry to this is now 45% cheaper than it was 30 days ago.

[BTCMILLIONAIRE]

via Imgflip Meme Generator

Just in case we dump more ..... gonna stick with straight outta Belgium fast food
Any of you not Belgium-Holland Guys ever eat this

And come BTC kee on the sunday pump while i’m gonna be movie watching come on

What are those green bananas in the middle? And the greenish stuff to the top left of them?

[Searing]

Are all the Mt. Gox coins sold yet?

No, that sh*tstorm is going to happen end of Feb or into March 2019...that will be a major cluster***k.

[Ludwig Von]

Just read a nice, trying to be objective view of BTC on ZH.

https://www.zerohedge.com/news/2018-12-08/bitcoin-mining-beauty-capitalism

Looks like mining remains profitable for well-run enterprises. From the article:

At the moment, Northern Bitcoin has 15 containers with 210 mining machines each. The 15 containers produce around 5 bitcoin per day at a total cost of around $2,500 dollars at the end of November 2018 and after the difficulty of solving the math problems went down by ~17 percent.

Taking that number with a grain of salt without any other info except .05$ per kwh.

I think I am gonna visit my daughter in Oslo soon and have her organise some touristic trips for me... . Finding out about the local grains of salt and pepper bolls...  

Now the whole article is one of the seldom not harrassing or shitting on BTC, so it pleased me.. .

[Ludwig Von]

via Imgflip Meme Generator

Just in case we dump more ..... gonna stick with straight outta Belgium fast food
Any of you not Belgium-Holland Guys ever eat this

And come BTC kee on the sunday pump while i’m gonna be movie watching come on

What are those green bananas in the middle? And the greenish stuff to the top left of them?

"Frietkot" 

[bitserve]

Lightning Network Growing Despite ‘Crypto Winter’, Up 300% This Month

https://www.cryptoglobe.com/latest/2018/12/lightning-network-growing-despite-crypto-winter-up-a-whopping-300-this-month/

The amount of bitcoin stored on the network is of particular note, growing a whopping 300%+ in just one month. Nearly $1.6 million worth of bitcoin, in current valuation, is now stored in Lightning channels. The number of channels is up over 40% versus last month, to 13,000; and the number of nodes is up 9.5%, to about 4,400 nodes.

What we need now is that someone like coinbase offer a simple lightning payment solution. It would work like this:

You load some funds to your coinbase wallet. And from the app you can do Lightning payments using coinbase node. Don't even need to run your own lightning node.

Why we don't already have something like that... I can't understand.

[bitserve]

Are all the Mt. Gox coins sold yet?

No, that sh*tstorm is going to happen end of Feb or into March 2019...that will be a major cluster***k.

There's no need for that to happen. The majority of creditors have already requested that no more sells are done and to receive the reimbursement in Bitcoin, and Kobayashi seems inclined to agree with that.

[yefi]

No, that sh*tstorm is going to happen end of Feb or into March 2019...that will be a major cluster***k.

That would be at the very earliest. Given how long things have dragged out, it'll more likely be the summer or autumn.

[Ludwig Von]

NIce! Yes, people were following it on the BETI thread.
https://bitcointalk.org/index.php?topic=470453.0

We were supra-exponential for a bit last fall, now below the trend as your graph rightly shows.
EDIT: Bobby Lee says $333K in DEC 2021. I will sell some at 200-300K to whoever would want a piece, lol.
Last time waiting for BETI 1.5 (it would have been 28-30K or so) did not work out. It would have happened if not for CME.

Not to sound like an old fuddy-duddy, but at some point the line will not be held and we'll have to "endure" mere linear growth (this being a finite planet and all).

I am more interested in linear growth than Seneca or behold, Hokusai parabolic cliffs.

[goldkingcoiner]

via Imgflip Meme Generator

Just in case we dump more ..... gonna stick with straight outta Belgium fast food
Any of you not Belgium-Holland Guys ever eat this

And come BTC kee on the sunday pump while i’m gonna be movie watching come on

Just get some waffles and fries. Is that pieces of butter next to raw onion halves on a stick?

[Ludwig Von]

via Imgflip Meme Generator

Just in case we dump more ..... gonna stick with straight outta Belgium fast food
Any of you not Belgium-Holland Guys ever eat this

And come BTC kee on the sunday pump while i’m gonna be movie watching come on

Just get some waffles and fries. Is that pieces of butter next to raw onion halves on a stick?

No, the onions is part of "Saté" and the butter likes are some kind of Kroket, mostly with totally disgusting names !  

And to be complete, we fry all that not in oil, but in the molten fat of oxes, if I say that right, means castrated bulls... .

[goldkingcoiner]

via Imgflip Meme Generator

Just in case we dump more ..... gonna stick with straight outta Belgium fast food
Any of you not Belgium-Holland Guys ever eat this

And come BTC kee on the sunday pump while i’m gonna be movie watching come on

Just get some waffles and fries. Is that pieces of butter next to raw onion halves on a stick?

No, the onions is part of "Saté" and the butter likes are some kind of Kroket, mostly with totally disgusting names !  

And to be complete, we fry all that not in oil, but in the molten fat of oxes, if I say that right, means castrated bulls... .

Dear diary, today I learned that oxen are actually just castrated bulls. Thank you for this information, Ludwig. I will remember it for the rest of my life.

[alevlaslo]

it's time to buy, such low prices will never be

[bitserve]

it's time to buy, such low prices will never be

Mhhhh, yeah, maybe it is time to buy. But those graphs with totally random curved lines..... look so.... random...

[alevlaslo]

within 2-3 years, the curvature can be neglected and draw a straight line

[JayJuanGee]

Bitcoin SV is Bitcoin

Simple to (re-) enable any business on it

https://twitter.com/money_button/status/1071446239927971841

Are you a fucking dumbass?

First:  merely putting bitcoin in the name does not make a thing bitcoin, even if it was originally forked from bitcoin

Second:  bitcoin is and has been a product of consensus, which involves changes in development with the passage of time, bringing the code and/or features back to what they originally were would not make the thing bitcoin, just like we are not going back to original cars, such as the model T, when a modern car is much better in a lot of ways, especially for actually driving.

[bitserve]

Bitcoin SV is Bitcoin

Simple to (re-) enable any business on it

https://twitter.com/money_button/status/1071446239927971841

Are you a fucking dumbass?

First:  merely putting bitcoin in the name does not make a thing bitcoin, even if it was originally forked from bitcoin

Second:  bitcoin is and has been a product of consensus, which involves changes in development with the passage of time, bringing the code and/or features back to what they originally were would not make the thing bitcoin, just like we are not going back to original cars, such as the model T, when a modern car is much better in a lot of ways, especially for actually driving.

But... SATOSHI Vision, bro.

[realr0ach]

Not to sound like an old fuddy-duddy, but at some point the line will not be held and we'll have to "endure" mere linear growth (this being a finite planet and all).

Or no growth from lack of business adoption.  The deflationary aspect is actually not positive in that regard.  Gresham's law forces any type of deflationary - or even 'less inflationary' - instrument out of circulation and out of adoption for use.  

Take the following real world business example:  Rick from "Pawn Stars".  People bring in junk and sell it to this guy's pawn shop.  So let's pretend that the US dollar was deflationary and he gives you $100 for something and a year later that $100 is worth $110 instead.  This is why Gresham's law exists. His natural goal is to pay you, or unload onto you, the worst form of garbage possible as payment, and in that manner from people constantly trying to rid themselves of a liability, it circulates fast with high usage while others don't.

Is there any reason for Rick from Pawn Stars to pay people with bitcoin?  As per the example above, no.  Is there any reason for Rick from Pawn Stars to accept bitcoin at all?  Not really, due to the fact supporting it is just adding a bunch of overhead to himself with no real benefit since few if anyone is going to pay him with it for the same reason he's not going to pay anyone else with it.  In that manner, using or supporting bitcoin as either a vendor or customer is somewhere between detrimental to pointless from an economics perspective, and is really nothing more than a political statement.

This means the only use case of a deflationary instrument is a seldom used, low velocity, settlement system (store of value).  In other words, the only real world use case of bitcoin is a direct competitor to gold and silver, but bitcoin fails miserably at that task due to not removing middlemen or counterparty risk (it has built-in middlemen), being susceptible to infinite amounts of black swans that can take it to zero while you need a black hole to hit the earth to destroy metals, having no valid Schelling point, no real scarcity (artificial scarcity is not scarcity), etc.