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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21334844 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (104 posts by 20 users deleted.)
luckygenough56
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January 03, 2019, 05:17:02 PM

it's alive !!!!
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VB1001
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"Four Wheel Drive"


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January 03, 2019, 05:25:39 PM

Attention if you have an account in Bitfinex !!!

Data Migration - January 7th, 2019, approximately 10:00 AM UTC, Both Bitfinex and Ethfinex will be down for up to 7 hours to complete the migration.

https://support.bitfinex.com/hc/en-us/articles/360015065614
^
Maybe it's related to this.
micgoossens
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BTFD, on to 15K a coin !!!!


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January 03, 2019, 05:25:58 PM

it's alive !!!!

You Made me FALLS check the price.... thought a suddenly BIG green dildo or something, instead a little more RED

Roll Eyes

Come on how is it been Said before?

PAGE PARITY NOW!!!!!!
bitserve
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HODL.


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January 03, 2019, 05:37:54 PM

it's alive !!!!

You Made me FALLS check the price.... thought a suddenly BIG green dildo or something, instead a little more RED

Roll Eyes

Come on how is it been Said before?

PAGE PARITY NOW!!!!!!

https://itunes.apple.com/us/app/bitcoin-ticker-widget/id998255317
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January 03, 2019, 05:46:15 PM
Merited by BobLawblaw (1)

Kinda insignificant in the overall grand scheme of things, but to celebrate the 10th Anniversary of Bitcorn, I've set my Lightning node fees to be outrageously low for the day.

Practically free.

This is some really cool tech, yo.

Really nice to see Lightning starting to pick up momentum; my "month_fee_sum" has been steadily rising over the last couple months.

Still nowhere near profitability, but, feelsgoodman. Feels like we're starting to see the future possibilities coming into better focus.

From Google search:



That blue line will go parabolic, just watch  Cool

(While the rest stays rock bottom)
rhomelmabini
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January 03, 2019, 05:57:34 PM

I think "Proof of Keys" is an unnecessary burden to the Bitcoin & exchange networks... I don't like the idea of shooting myself in the foot. I understand the idea of not letting exchanges use our coins in a fractional reserve setting, but I don't think it will make a difference for just one day... If they want to do it, they will, since they will always have some of our coins in their wallets. The good qualities of Bitcoin (decentralized, distributed, immutable, fungible, borderless, permissionless, rare, capped, non-inflationary), as compared to fiat, are guaranteed by its design, not by what exchanges do or don't do.

Why not do the opposite: withdraw all of our fiat from the banks! That would put a stress to their network...

 It would cause a lot of stress for nearly everyone since loans exceed savings by a very large margin.  In Canada, there is no reserve requirement so theoretically we have an indeterminate (possibly infinite) money supply based on the formula for money multiplier (m) given the Reserve requirement (R):

m=1/R

 That being said, I went into the bank a couple of years ago to withdraw more than I was able to withdraw in one day from an ATM (which is $2000) - seems to me I was looking to get around 6k.  First, they wanted to know why I needed "so much" money and if a bank draft or check wouldn't be a better option.  They chastised me for not calling ahead and I had to sit and wait for the money to be ready.  Oh, I was also required to withdraw my maximum from their ATM first (I don't pay a fee if I use theirs so that didn't bother me too much).  When the cashier called me back to the counter, she had a manila envelope she was digging her hand into that I could see had at least two wrapped stacks of $100 dollar bills.  I tried to keep the conversation light-hearted saying "You have plenty of cash there!  Why did you make me take money from the ATM?" and she told me they had been directed to discourage large cash withdrawals.
 Fast forward a couple of years to the present and just before Christmas I went to the same branch because it was on my route and I needed some cash.  While they still have people working inside, they don't do physical cash withdrawals.  The only option is to use their ATMs.  They have been popping up everywhere since about the middle of 2018 in this area and I believe one bank calls them "Advice-based Centers" where the bank employees are directed to show you how to use an ATM if you request cash and they don't have tellers anymore.

 So really, the only thing a bank run will cause is line-ups at the ATMS and stress for those with savings accounts.

::


Buy Bitcoin.


  

That queue is a cue to really go with the trend or the future of money. I may be a newbie with this industry but Bitcoin, blockchain and cryptocurrencies really has future to create massive change especially in finance, economy, government etc.,

Sorry, there are two queues actually.  I didn't provide enough separation.
  The left is in India and on the right, Greece.


Well for those who don't want to be hassle on that same queues, that's the cue to go with bitcoin instead.

I know there is but queues like that to get fiat, nahhh! I want to capitulate or walk-out at the very moment if I will saw it.
rhomelmabini
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January 03, 2019, 06:00:18 PM

4H with good looking RSI.




Still a noob.
empowering
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January 03, 2019, 06:07:57 PM
Last edit: January 03, 2019, 06:29:06 PM by empowering

admins in bitfinex telegram - the matching engine is down, funds are safu
on proof of key day
coincidence
nothing to see

What do the people that watch the cold wallets say?

Any exchange cold wallets significantly impacted? Or proportionally more than the rest?

I am afraid that participation levels are not enough to actually get the job done that "proof of keys day" was designed to do.. (YET?)

Kinda tricky for exchanges running lending and margin trading too.

For it to truly work near on everyone needs to be on-board...

Really for it to work, exchanges need to fully participate, perhaps even force(?) encourage(?) customers to withdraw..
It would cut the chaff that is for sure.


That being said so far I heard that at one point or another in past 24 hours there have been questions surrounding Hitbtc suspending withdrawals, Kucoin had at one point suspended withdrawals, and Bitfinex has this glitch...(which despite the general sentiment around Finex, I tend to think is probably just a glitch, those guys have been under a fair bit of scrutiny of late (but who knows you never can tell) .................  anyone heard of any other potential incidents?

TBH there are some other exchnages that I would like to see stats from, for example CoineBene, Zb, and including Binance, Okex and Bithumb etc..

If anything it seems that proof of keys could be very effective, if not somewhat clunky and awkward, perhaps a even better way would simply to be to utilise the blockchain and have fully transparency of custody the entire time, you have control of your keys,  right up until the moment you press "sell"  in a decentralised custody solution, but with trades matched and cleared by a centralised trade engine..

It seems to me that fully decentralised exchanges, could have a tough time regulatory wise, though I guess compliance could be built in to dex too, but I think that for an exchange to be huge, and do serious volumes and integrate with the current ecosystem and the new evolving ecosystem, that it could be beneficial to have certain elements of an exchange centralised, from both a technical (speed) and a regulatory and management/security point of view..... and certain aspect of the exchange decentralised/distributed, for example custody// withdrawals and deposit functions

Then if the custody solution is either very transparent, or you maintain your keys until you enter a trade, then yearly proof of keys would not be needed... and indeed we can keep an even closer eye on the status of our assets..

This would greatly reduce the worry of an exchange  rehypothecating our tokens,  or of any fractional reserve practice or a straight up exit scam with everyone's denero


Nice and safu, more practical, technically feasible.


 

  
micgoossens
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BTFD, on to 15K a coin !!!!


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January 03, 2019, 06:11:46 PM

via Imgflip Meme Generator
Paashaas
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January 03, 2019, 06:15:17 PM
Merited by bones261 (1)

Amazing image from the dark side of the moon, accomplished by the Chinese.

No reports about alien sites which has been claimed by tin foil hatters all those years...lol.

jbreher
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lose: unfind ... loose: untight


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January 03, 2019, 06:23:14 PM
Last edit: January 03, 2019, 06:36:50 PM by jbreher

Here’s the thing.  If you keep pumping a shitcoin run by a money launderer and a con man, but you won’t even commit to that shitcoin, then you will justifiably be called out as a hypocrite and shill each time you raise the issue.  

Unless you're running your entire life free of fiat, you've got no room to spout off.

You are undoubtedly clever and undoubtedly deliberately obtuse.

Your comment would carry weight if I was shilling the virtues of fiat over Bitcoin. I am not.

Don’t come into our house and shit on the floor and expect not to be consistently challenged over it. Alternatively accept that this is a Bitcoin community, and conduct yourself accordingly.   The choice is yours.

Indeed, the choice is mine. When confronted with misunderstandings, untruths, or lies about other satoshi forks, I will continue to inject some much-needed corrective perspective.

This 'house' is not yours. It is theymos'. And through delegation, infofront's. You have no power here. If theymos, infofront, or another delegate deign to shit-can my posts, then so be it. But all your yapping is just so much impotent bullshit.

Incidentally, I am not 'shitting on the floor' as you so eloquently phrase it (not). The only negative comments I voice here about BTC are truthful observations of the inherent properties of that fork, or logical speculation based upon those properties.

<edit> Oddly enough, your suggestion for me to diversify totally out of BTC in favor of the other satoshi forks would actually provide incentive for me to act in the manner in which you incorrectly ascribe to me. Perhaps some self reflection upon your actions and utterances would be beneficial to your likely goals. </edit>

So get the fuck out with your attempted behavior modification. Or don't. I don't care.
rhomelmabini
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January 03, 2019, 06:25:14 PM


But he abandon us for good, that's the good thing too. He gives us guide to end fiat regime and to ease human live as well in many terms.
luckygenough56
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January 03, 2019, 06:31:05 PM

Amazing image from the dark side of the moon, accomplished by the Chinese.

No reports about alien sites which has been claimed by tin foil hatters all those years...lol.



i am disappoint
jbreher
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lose: unfind ... loose: untight


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January 03, 2019, 06:32:09 PM

It seems to me that fully decentralised exchanges, could have a tough time regulatory wise,

I don't see how. If an exchange were truly decentralized, there would be no handle which the state could grab in order to inject its desired regulation.

Sure, they could pass laws. But that would be tantamount to prohibiting person to person sales of anything and everything (i.e., used cars, beanie babies, garage sales, ...). Something that today exists -- at least in the USA -- only for very limited classes of goods such as firearms.
nikauforest
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January 03, 2019, 06:40:04 PM

Kinda insignificant in the overall grand scheme of things, but to celebrate the 10th Anniversary of Bitcorn, I've set my Lightning node fees to be outrageously low for the day.

Practically free.

This is some really cool tech, yo.

Really nice to see Lightning starting to pick up momentum; my "month_fee_sum" has been steadily rising over the last couple months.

Still nowhere near profitability, but, feelsgoodman. Feels like we're starting to see the future possibilities coming into better focus.

Hi BobLawBlaw, Which Lightning software are you running? LND , or Eclair or Huh I am thinking of starting one up. I have a full Bitcoin node running on a machine, along with Armory. I am thinking of using an extra machine just for lightning. Any info on your setup would be appreciated.
micgoossens
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BTFD, on to 15K a coin !!!!


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January 03, 2019, 06:43:40 PM

via Imgflip Meme Generator

Close to order this one...., if its keep BARTING i might be wearing this a whole year Grin
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January 03, 2019, 06:52:03 PM
Merited by JayJuanGee (1), wachtwoord (1), kurious (1)

From Theymos :



Satoshi's lesson

The foundations of Bitcoin were set in stone 10 years ago today with the creation of the genesis block, and Bitcoin version 0.1 was officially released a week later. Version 0.1 was amazingly complete, and even more impressively, it had very few bugs. It also had great forward-compatibility, with explicit support for future softforks in the form of the OP_NOPn opcodes. Before anyone knew how a decentralized cryptocurrency would even work, Satoshi was figuring out how to add to Bitcoin things like smart contracts and payment channels. This is incredible, and a lot of people look at Satoshi's amazing accomplishments with Bitcoin and say stuff like, "Satoshi must be a crypto super-genius, the next Einstein." This, I think, is very much missing the point.

When Satoshi was working on Bitcoin in 2007-2009, almost all of the core ideas of Bitcoin were well-known in the cryptography community. In 1996, a summary of previous academic work on electronic cash was published, talking at length about most of the low-level cryptographic primitives used in Bitcoin and using familiar terms like "double spending". Hashcash proof-of-work was well-known, and I remember reading about it prior to Bitcoin as an idea to prevent email spam. git uses the same unbreakable chain of hashes as Bitcoin's block chain, and was first released in 2005. Satoshi made one major leap: combining all these pieces to prevent double spending through a PoW block chain. This was impressive, but the same flash of brilliance could've happened to anyone who was following this stuff.

Satoshi is not awesome because he was watching the crypto world and had a brilliant idea. He's awesome because upon having this idea, he carried it out. You know what I would've done if this idea had come to me? I probably would've mentioned it to a few people, maybe written some very basic code if I was feeling especially ambitious. You know what Satoshi did? He spent 2+ years contemplating every possible aspect of the system he could think of, and wrote code that worked brilliantly in the real world. Satoshi's code was good, but anyone who had read a good C++ book could've written similarly-good code. Anyone who had taken an intro crypto course or read a few books on the subject would understand Satoshi's usage of crypto primitives. The task of creating Bitcoin required a small flash of brilliance, moderate skill, and an unbelievably huge amount of dedication to thinking about, coding, and testing the system until it worked exactly as envisioned.

Satoshi's lesson is that you don't need to be the next Einstein in order to change the world. Nor do you need to have much money, or influence with the world's "movers & shakers". You just need to put in the effort. Satoshi, probably just an ordinary hobbyist like anyone here, saw that something was lacking in the Universe, and he fought tooth-and-nail for 2+ years until this imperfection was corrected. This is what makes Satoshi and his work my greatest inspiration.

Bitcoin has come a long way in 10 years, but it still has much more room to grow, with both major challenges and major opportunities ahead. How Bitcoin moves forward - how Satoshi's work continues - is for as many people as possible to take personal responsbility for improving the Bitcoin ecosystem, creating interesting things, and changing the world for the better. Since we've long passed the moon, I hope you'll join me in aiming for the stars.
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January 03, 2019, 06:57:25 PM

I actually dreamed last night that bitcoin fell to $6 USD, and then to $2 USD. Pretty scary. So what did I do? Bought more! In reality, I think it'd be finished at that point. Hopefully not a vision of things to come...
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January 03, 2019, 07:05:08 PM
Last edit: January 03, 2019, 07:54:18 PM by empowering
Merited by bones261 (1)

It seems to me that fully decentralised exchanges, could have a tough time regulatory wise,

I don't see how. If an exchange were truly decentralized, there would be no handle which the state could grab in order to inject its desired regulation.

Sure, they could pass laws. But that would be tantamount to prohibiting person to person sales of anything and everything (i.e., used cars, beanie babies, garage sales, ...). Something that today exists -- at least in the USA -- only for very limited classes of goods such as firearms.

Well, I have a few thoughts, if you are talking about an exchange that is going to cater for a few small fry retail traders here and there, a few honest folk with legitimate privacy concerns, and then the other main fringe groups i.e a few drug dealers and black sites, the odd tax evader, money launderer, or any other anonymous trader whose sole purpose of using a DEX is to evade KYC, AML, and proceeds of crime and terrorism laws, then yeah sure fully decentralised exchanges can operate and function perfectly well and I fully anticipate there to be these exchanges continuing to pop up and provide exactly that service into that market and that's all good and well ..... or not.

However, I mentioned in my OP that I was talking about an exchange that could do HUGE numbers AND integrate with the existing financial system AND the new one, I didn't say to bypass the larger financial system (DEX) I said to FULLY INTEGRATE and do HUGE numbers...  for a DEX to do so then it would need to implement KYC and AML and all the rest of it from a compliance point of view... otherwise it is destined to become a cryptocurrency to cryptocurrency only exchange, without ever any hope of gaining access to a fiat on and off ramp, therefore making it outside of the system, and a blockbox with limited potential for growth ... (not saying thats a bad thing, and not saying there wont be pretty big dexs in the future)

Ultimately, a DEX can still be shut down or the creators or devs be held accountable, so until a true open source distributed autonomous set up is made, and put out into the wild,  with the ability to update its code and replicate itself and continually respawn on a new address or live on a dark sites or on clients only, then a dex isnt really a dex.

 At the end of the day, its the  centralised and undistributed  custody that's our problem right? so that's the sticky bit that needs to be solved, so solve that bit, utilise a blockchain and have a decentralised custody solution that handles deposits and withdrawals and have that linked to a centralised exchange with a super fast matching and trade engine that then clears the trades and communicates with a decentralised custody solution.  The custody aspect could even in fact be shared by other exchanges too.

 This way we get the benefit of the DEX that we WANT and NEED, and then the rest of it which in fact a blockchain would make more clunky and slower and less efficient,  we already have perfectly good technology to deal wth all other technical aspects of an exchange, and why would we want all of that crap immortalised in a bloated blockchain, for the sake of it?

However we also get the added bonus of integrating with the real world, banks, and financial institutions and businesses and funds and market makers and liquidity providers etc etc.... which is where the HUGE money aspect of it comes in that I was talking about , and integrating with RL business now, not at some airy fairy wouldn't it be nice time in the future.  

Fact is it will be difficult for any entity that cares about or has a responsibility to regulators, or clients or shareholders to be able to interact in any meaningful way with a pure 100% DEX even if such a thing were to exist. Unless the DEX is fully compliant, and then you have lost the use case for DEXs , and actually you can build a better exchange that is not fully decentralised.

(TL/DR)  Therefore in conclusion dexs have a smaller potential (at this moment in time) to integrate and tap into the HUGE money flows that are incoming to the cryptocurrency space... and without the ability to remain anonymous they lose their edge, in terms of tech, the best solution is decentralise the parts of an exchange that need it (custody aspects) and the rest of it be centralised as this is faster, easier, more secure, easier to integrate with the rest of the world, have fiat on/off ramps, etc etc etc - because regulations

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January 03, 2019, 07:19:32 PM



Proof of Stake:  designed to centralize into monopoly or cartel
Proof of Work:   designed to centralize into monopoly or cartel

Proof of jackass


Sorry for quoting rOach  Roll Eyes
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