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

[El duderino_]

Good morning Bitcoinland and a late happy new year to all. I didn't check in yesterday because I didn't make it home until 5:00PM, still hung over and just washed off the juices and went straight back to bed.

Still sideways with an upward tilt... currently $3860USD/$5252CAD (Bitcoinaverage).

Hopefully we'll keep going up this time but I won't lose any sleep if it dips some more.

Yeah Some of the really don’t seem to see that we just don’t give a F***
We are mad man down here
Crazy F***’s
Insane people
Honey Badgers
Future wealth of the world
Hodlers to the bone
True BTC’ers

You forgot to mention those of us who are living happily ever after on our Bitcoin earnings.

I gues I forgot to mention lot of stuff right there

[Saint-loup]

[VB1001]

Good article to attract bitcoiners:

Seven New Year's Resolutions for Bitcoiners

- Teach five people about bitcoin and help them set up a wallet.
- Set up a full node.
- Create a "Crypto Will."
- Get control of your private keys.
- Go back to Bitcoin's roots.
- Challenge yourself to learn or do something new or outside your comfort zone.
- Resolve to be a positive force.

The writer likes  BTC

"So, as we embark on a new year, full of new possibilities and opportunities, resolve to be a positive force in the Bitcoin space: Avoid FUD, welcome newbies, welcome back altcoiners, don't gloat, keep hodling, keep buidling."

https://www.nasdaq.com/article/seven-new-years-resolutions-for-bitcoiners-cm1076291

[Last of the V8s]

<--- mutters irascibly about sanctimonious pricks twats

[Globb0]

I just read a whole thing about some shark pool group.


Going to save bitcoin by mining empty blocks in other coins.


Looked interesting then they suddenly accidentally got the bitcoin initials wrong by putting BCH ? ? ?

[Aqualung89]

Everyone is talking something different. To me it must be the beginning of a revolution. I think Btc should be able to move the Altcoins at a certain level and get a little up.

[alevlaslo]

Bitcoin will not be able to increase the size of the block otherwise it will mean the recognition that BCH is better. But without increasing the block to solve the problem of BTC scaling is impossible

What problem?

7 TPS, Visa has 47000

Great for Visa. It has nothing to do with Bitcoin though.

Bitcoin is not a credit card company and offers no improvement as a more efficient payment system. It's a distributed system with (extremely) high security and (very) high censorship resistance with a non-inflationary monetary base.

I would hope people here would be able to figure out that much ...

LN will turn bitcoin into a Visa

[Biodom]

People are hodling btc just fine, yet they are not buying much, hence we got reduced from 55% to 51% even when we moved from the lows.
I get somewhat discouraged by this.
Crypto market has no notion of quality.

[jojo69]

LN will turn bitcoin into a Visa

yeah...ummmm

I am not able to do  a personal, un-censorable, non-reversible transaction on the Visa mainnet.

You are an idiot.

Ignore engaged.

[Last of the V8s]

Mastercard can bugger up Patreon, they can bugger Barry and his boys.
Hope he likes it up his 'epicentre'

[alevlaslo]

LN will turn bitcoin into a Visa

yeah...ummmm

I am not able to do  a personal, un-censorable, non-reversible transaction on the Visa mainnet.

You are an idiot.

Ignore engaged.

https://docs.google.com/spreadsheets/d/1YKTkFJLYIkrGFh7h051G_AL6i57i8EOhYM2e43MjbuE/htmlview#

[Butterscotch Cartman]

LN will turn bitcoin into a Visa

yeah...ummmm

I am not able to do  a personal, un-censorable, non-reversible transaction on the Visa mainnet.

You are an idiot.

Ignore engaged.

normal consumers don't want non reversible transactions. Why the fuck would anyone want that, if something goes wrong or your funds are stolen you are fucked.  Credit cards are a million times better than buttcoin.

[Biodom]

LN will turn bitcoin into a Visa

yeah...ummmm

I am not able to do  a personal, un-censorable, non-reversible transaction on the Visa mainnet.

You are an idiot.

Ignore engaged.

https://docs.google.com/spreadsheets/d/1YKTkFJLYIkrGFh7h051G_AL6i57i8EOhYM2e43MjbuE/htmlview#

That calculation is factually incorrect:

1. earth has 7.9 bil inhabitants, not 10.
2. out of 7.9 bil inhabitants, 25% are children below age 14, so total number of transactionally able is not more than 5.9 bil.
3. tx can be batched.

Conclusion: even without batching upper bound is 83 years.
With batching, anywhere between 0.8 and 8.
Nothingburger.

[Toxic2040]

Still doing some tuning but here are some short fibs and a look into the next week or so. Looks like mostly sideways with a small side of upwards. #dyor

1h


4h

#stronghands'19

[Biodom]

A first skirmish between lying AI and humans:

https://techcrunch.com/2018/12/31/this-clever-ai-hid-data-from-its-creators-to-cheat-at-its-appointed-task/

I hope we don't enable some strong AI with staples optimization production as it would make staples out of everything.

Relevance to bitcoin: negligible, unless people will start using AI to write code.

[Last of the V8s]

Apple downgraded expectations

[jbreher]

https://docs.google.com/spreadsheets/d/1YKTkFJLYIkrGFh7h051G_AL6i57i8EOhYM2e43MjbuE/htmlview#

That calculation is factually incorrect requires some assumptions that may or may not be reasonable:

1. earth has 7.9 bil inhabitants, not 10.

In decades to come? All projections of which I am aware conclude the earth's population will continue to increase.

2. out of 7.9 bil inhabitants, 25% are children below age 14, so total number of transactionally able is not more than 5.9 bil.

In decades to come? All projections of which I am aware conclude the earth's population will continue to gentrify. As if tweens and even chillens are to be locked out of ability to buy bubblegum?

3. tx can be batched.

'Splain me how one onboards _individuals_ in a permissionless decentralized manner using batching?

Conclusion: even without batching upper bound is 83 years.

Only 83? Such a timeline. So, barring any breakthoughs in life extension technology, we'll all be dead before the world can be onboarded to LN. Got it.

(Note: underlines and strikethroughs are mine, not in the Biodom original. duh.)

[Biodom]

https://docs.google.com/spreadsheets/d/1YKTkFJLYIkrGFh7h051G_AL6i57i8EOhYM2e43MjbuE/htmlview#

That calculation is factually incorrect requires some assumptions that may or may not be reasonable:

1. earth has 7.9 bil inhabitants, not 10.

In decades to come? All projections of which I am aware conclude the earth's population will continue to increase.

2. out of 7.9 bil inhabitants, 25% are children below age 14, so total number of transactionally able is not more than 5.9 bil.

In decades to come? All projections of which I am aware conclude the earth's population will continue to gentrify. As if tweens and even chillens are to be locked out of ability to buy bubblegum?

3. tx can be batched.

'Splain me how one onboards _individuals_ in a permissionless decentralized manner using batching?

Conclusion: even without batching upper bound is 83 years.

Only 83? Such a timeline. So, barring any breakthoughs in life extension technology, we'll all be dead before the world can be onboarded to LN. Got it.

(Note: underlines and strikethroughs are mine, not in the Biodom original. duh.)

I've got some idle PC setups, so i think to onboard sometime during the upcoming summer vacation.
There should still be enough tx for me  

Re batching, I don't see any problems with hubs on L2 when L1 is decentralized, hence tx are still permissionless.

[jbreher]

Re batching, I don't see any problems with hubs on L2 when L1 is decentralized, hence tx are still permissionless.

For multiple individuals opening LN channels through batching, some intermediary is required in order to create the batch. Hence, not decentralized and not permissionless.

[Dig Bicks]

Advice for 2019:  Altcoins are going to pump A LOT harder than bitcoin. Eth and BCH already 2x'd from their recent lows.  Make sure you have your alt bags ready. Eth will outperform btc this year.  Also worth buying xrp even though its a shitcoin that isn't even a crypto but it will pump.