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

[d_eddie]

$120 is more than enough for a network specially disigned for micropayments.

Main chain will be great for medium to large transactions.

Lightning is for low, micro to sub-Satoshi payments.

I've already seen this a couple of times, how can you go sub-satoshi?  

When you close the channel and go back to the main chain, you're forced to round to whole satoshis of course, but while the funds are in the LN, accounting is in subunits (might be millisatoshis if I'm not wrong).

Round up or down? Any way this could create non-existent corn? (Probably not, but sure sounds like it and I'd like to hear why it is not so.)

Smart! I hadn't thought of sub-satoshi rounding error. However, there's no way to create new corn on chain. The block with the channel closing transaction would never validate.

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[JayJuanGee]

I can't believe a company like WU is still operating 10 years after the crypto was invented. Are people really that stupid?  

I have a slight issue with people who roll out the 'Bitcoin will kill WU' line. Mainly cos as it stands it's crap.

You're paying WU to finish up with spendable cash in someone else's hands in millions of places.

Millions of other places don't have places to spend crypto, or don't have exchanges or might have 2-3 people to sell it to in an entire country on Localbitcoins.

It's a starry eyed comparison that fails to hold up.

And this is where XRP comes in, a solution between the centralized fiat with high fees and the decentralized cryptocurrencies with instant and low fees.
Bitcoin is good as a currency when shops accept it, but it has stayed too long in the grey zone of the law and it doesn't have the same software and corporate support Ripple Labs offer.


Really if you think about it, we have about 20-30 great blockchain projects and if we were to support these that'd benefit the whole crypto-scene.
Unfortunately we're too busy fighting among ourselves for which coin is better, which has the best team, which is more decentralized and often we're splitting chains or copy existing projects because so many people feel they are special and they should lead with their own project.

Because of that everyone is losing as we keep weakening BTC to buy into scams and the few great altcoins are lost among the shitcoins.
We'll never replace centralized businesses like that.

Why the fuck you shilling XRP, here?  You really believe your own nonsense that XRP is providing something that is even comparable to BTC?  XRP is a sham that is trying to camouflage itself as having use cases and relationships to banks... Sure it might get pumped, but it seems to serve as a distraction to anyone who might attempt to understand what bitcoin is providing rather than providing any kind of "innovation" as you seem to spout out.

[BTCMILLIONAIRE]

I don't need privacy when shopping for groceries,

oh but you might

I can imagine any number of scenarios where a hostile lawyer being able to enter one's historical receipts for beer might be unwelcome.

I don't see it. And not only because the transaction details on the bank account only show the lump sum paid for groceries with no details regarding individual items.

[rafanadal]

Buttcoin can't stay above 4k for more than a day, SAD!!

[jojo69]

I don't need privacy when shopping for groceries,

oh but you might

I can imagine any number of scenarios where a hostile lawyer being able to enter one's historical receipts for beer might be unwelcome.

I don't see it. And not only because the transaction details on the bank account only show the lump sum paid for groceries with no details regarding individual items.

Divorce, car accident, health insurance, professional malfeasance...the list goes on.  And if you don't think your shopping list ends up in a database I think you are delusional.

[goldkingcoiner]

You guys seeing these huge buy walls? Bull whales are accumulating. Its happening.

[JayJuanGee]

Dumperino to ~3771 now official. We have broken past the 3923 support. Man am I glad I got out at 4052. If this stretches out we got a cup and handle situation. I am in at ~3771



Really hope my cup^3 hypothesis actually comes true. But I wouldn't bet on it. I say we bump into the ~4410 resistance and down again from there.

You got out of your 80x at $4,052?  

I am thinking that you must have made a killing on that one, and surely the kind of "accidental" trade that could fund a whole fucking hell of a lot of losses, depending on how much you are "gambling" each time that you hedge.

To some extent you are striking me as a bit of a high risk taker, yet if you pull some of your profits out of your trading fund (such as what you made in the "accidental" 80x long play), then you could still be considerably profitable (beating the averages) on a lot of short-term plays.  One of the problems with shorter-term players seems to be that they tend to get greedy, and don't strategically pull enough off of the table and keep it off the table, so they end up losing their previous profits in some subsequent play because they erroneously presume that they can beat the market with their presumptively superior wits.

[HairyMaclairy]

Not looking particularly promising in the short term.  We haven't climbed the ladder to the bear line, let alone dealt with it. 

[El duderino_]

its all lightning

[El duderino_]

[El duderino_]

[JayJuanGee]

If BCH/BSV is being pumped, it means that BTC is being sold to buy this cancer. When those will be dumped, they will be traded for BTC (most likely).

Assertion does not withstand the merest scrutiny. For while ABC is up 40+% and SV is up 45+% on the 24 hour, BTC is also up ~4.5%. If the ABC and SV prices are driven solely by BTC dumping, then why is BTC simultaneously up?

Your logic is flawed here, dear sir.

Those Bcash shitcoins are worth less than 5% of Bitcoin, and they are illiquid as fuck.  It does not take a whole hell of a lot of bitcoin or any other asset/currency to pump one or both of those scams.   

[goldkingcoiner]

Dumperino to ~3771 now official. We have broken past the 3923 support. Man am I glad I got out at 4052. If this stretches out we got a cup and handle situation. I am in at ~3771



Really hope my cup^3 hypothesis actually comes true. But I wouldn't bet on it. I say we bump into the ~4410 resistance and down again from there.

You got out of your 80x at $4,052?  

I am thinking that you must have made a killing on that one, and surely the kind of "accidental" trade that could fund a whole fucking hell of a lot of losses, depending on how much you are "gambling" each time that you hedge.

To some extent you are striking me as a bit of a high risk taker, yet if you pull some of your profits out of your trading fund (such as what you made in the "accidental" 80x long play), then you could still be considerably profitable (beating the averages) on a lot of short-term plays.  One of the problems with shorter-term players seems to be that they tend to get greedy, and don't strategically pull enough off of the table and keep it off the table, so they end up losing their previous profits in some subsequent play because they erroneously presume that they can beat the market with their presumptively superior wits.

I would agree with you 100%. And I would not really call myself risky. I don't usually fomo like this. But big amounts change a person. And I can call myself lucky that it did not burn me on my ass.

[serveria.com]

Beartrap?

[El duderino_]

i'm @the massage saloon can't listen it..... but is it any good?

https://twitter.com/akaAction316/status/1076209878727839744

[JayJuanGee]

$120 is more than enough for a network specially disigned for micropayments.

Main chain will be great for medium to large transactions.

Lightning is for low, micro to sub-Satoshi payments.

I've already seen this a couple of times, how can you go sub-satoshi?  

When you close the channel and go back to the main chain, you're forced to round to whole satoshis of course, but while the funds are in the LN, accounting is in subunits (might be millisatoshis if I'm not wrong).

Round up or down? Any way this could create non-existent corn? (Probably not, but sure sounds like it and I'd like to hear why it is not so.)

Smart! I hadn't thought of sub-satoshi rounding error. However, there's no way to create new corn on chain. The block with the channel closing transaction would never validate.

My understanding is that some of the lightning implementations are recognizing down to millisatoshis (which is 1,000th of a satoshi I believe).. of course, if the BTC get sent out of lightning network, then at this point in time, the sub-satoshis are not going to be recognized by the main BTC network, but apparently you could still have a sub-satoshi balance within the lightning network that might not be resolvable with the main bitcoin network until such time that sub-satoshi's are to be recognized on the BTC main network (which surely would not be a difficult concept to reach consensus on the main bitcoin network, at some point in the future, even on the main network that might be currently in its early inspirational days on the lightning network).

[jojo69]

 is it any good?

meh

[El duderino_]

 is it any good?

meh

as yeah or neah

[HairyMaclairy]

BFX introduces margin trading for USDT.  I can’t even

http://blog.bitfinex.com/announcements/bitfinex-introduces-margin-trading-usdtusd/

[jojo69]

 is it any good?

meh

as yeah or neah

meh
/me/
informal
exclamation
exclamation: meh

    1.
    expressing a lack of interest or enthusiasm.
    "Meh. I'm not impressed so far"

adjective
adjective: meh

    1.
    uninspiring; unexceptional.
    "a lot of his movies are … meh"