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

[Millionero]

It's very annoying the Lightning Network conmen are trying to pretend LN while bitcoin has empty blocks vs bitcoin with full blocks that are uneconomical to use would look anything remotely similar to one another.  It's a testnet and they're launching spam channels everywhere that have pocket change in each one and try to pretend each 'line' represents 'decentralization'.  In the real world, the way it's designed incentivizes you to put all your money in a single channel connected directly to a well-connected bank, so the exact opposite of how they try to trick people and portray it as.  

The testnet lines are meaningless, only incentives matter.  Empty channels that nothing flows through is not a valid measurement of anything, just a visual trick.  The real measurement of LN decentralization is basically what % of a user's net worth is all in the same channel and how few channels would actually be moving all the volume in the real world.  For example, do you think someone is going to have 20% of their net worth in a channel connected to the grocery store then 5% to the pet store, yada yada?  Hell no.  They're not going to pay money to open all these channels and then for no reason split all their money up into non-fungible pools that can't be combined to spend on larger purchases.  

How the fuck would you mobilize your cash to invest in anything if you constantly have to keep it in 100 different channels too?  It's not feasible for savers, spenders, for anyone really.  The only way it works at all in a non-clown car manner is having all your money in a single channel connected directly to a bank.  So in other words, LN is completely worthless and is identical to the current banking system.

Roach, despite distracting and less than admirable personal qualities, you get some things right.
When I first looked into Lightning Network, I was thoroughly underwhelmed.  Nothing has happened to change my mind.
LN is a kludge.

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[bitebits]

Anyone heard of these Tangem cards?

https://tangem.com/

$5 per card needs to come down but the tech is quite cool. Just verify on your phone that there's money on the card and you can exchange bitcoins offline.

Looks interesting! Would like to have some more details, for example can the bitcoin be made ‘digital’ again by the holder of the card?

[VB1001]

VB1001 DX Century Club (confirmed contacts, with 100 countries, obviously on HF) is certainly a great accomplishment. I don't know what CFM: 312 is.

DXCC: 312 confirmed entities

http://www.arrl.org/files/file/DXCC/2018_Current_Deleted.txt

[Elwar]

It's very annoying the Lightning Network conmen are trying to pretend LN while bitcoin has empty blocks vs bitcoin with full blocks that are uneconomical to use would look anything remotely similar to one another.  It's a testnet and they're launching spam channels everywhere that have pocket change in each one and try to pretend each 'line' represents 'decentralization'.  In the real world, the way it's designed incentivizes you to put all your money in a single channel connected directly to a well-connected bank, so the exact opposite of how they try to trick people and portray it as.  

The testnet lines are meaningless, only incentives matter.  Empty channels that nothing flows through is not a valid measurement of anything, just a visual trick.  The real measurement of LN decentralization is basically what % of a user's net worth is all in the same channel and how few channels would actually be moving all the volume in the real world.  For example, do you think someone is going to have 20% of their net worth in a channel connected to the grocery store then 5% to the pet store, yada yada?  Hell no.  They're not going to pay money to open all these channels and then for no reason split all their money up into non-fungible pools that can't be combined to spend on larger purchases.  

How the fuck would you mobilize your cash to invest in anything if you constantly have to keep it in 100 different channels too?  It's not feasible for savers, spenders, for anyone really.  The only way it works at all in a non-clown car manner is having all your money in a single channel connected directly to a bank.  So in other words, LN is completely worthless and is identical to the current banking system.

Roach, despite distracting and less than admirable personal qualities, you get some things right.
When I first looked into Lightning Network, I was thoroughly underwhelmed.  Nothing has happened to change my mind.
LN is a kludge.

I still connect directly via manual routing to every website I go to.

I don't just connect to the closest node on the network and have my traffic propagated through the network.

I wish the Internet and Lightning Network worked that way but they don't. You have to connect directly to each place you want to spend money.

 

[VB1001]

Anyone heard of these Tangem cards?

https://tangem.com/

$5 per card needs to come down but the tech is quite cool. Just verify on your phone that there's money on the card and you can exchange bitcoins offline.

I can not find information, just this:

https://cointelegraph.com/news/swiss-smart-card-crypto-wallet-tangem-gets-15-million-from-japans-sbi-group

[nanobtc]

CFM: 312  Wow! Assuming lots of 20 meters? 40? Or during a sunspot cycle, 10-15? I used to have a quarter-mile wire, 160 was fun, but not reliable DX.

[JayJuanGee]

The avatar of yefi kind of looks like an oracle - especially with underwear horns.    (I mean halo)   

Stare deep enough into my pants and the future will be revealed to you.

Are speaking theoretically or reporting actual experience?  Hopefully female, but hey, these days, gotta be open to anything.   

[Elwar]

Anyone heard of these Tangem cards?

https://tangem.com/

$5 per card needs to come down but the tech is quite cool. Just verify on your phone that there's money on the card and you can exchange bitcoins offline.

Looks interesting! Would like to have some more details, for example can the bitcoin be made ‘digital’ again by the holder of the card?

Looks like you can.

The value can be extracted at any time by signing a transaction from the Tangem Note to an arbitrary Bitcoin wallet. This requires a compatible NFC–enabled Android phone and is protected by a 60–second security delay. iPhone can be used only for card validation and balance check.
 

Private keys cannot be imported or exported from Tangem Notes under any circumstance. No backup possible — by design. Each Tangem Note creates its own private keys and can never disclose them. The value is completely tied to the physical chip.

[JayJuanGee]

The W200 has held yes or no? Yes.

The W200 held in 2015 even though it closed slightly under it for two weeks in a row and also wicked below it twice, yes or no? Yes.

The W200 has never been broken decidedly in the history of BTC charting, yes or no? Yes.

This means we shouldn't get ahead of ourselves, yes or no? Yes.

Do I like your beating us up style?  Yes.

Do I understand it?  No.

Do I believe that you are saying that we can only go down so far?  Yes.

Am I hoping the bottom is in?  Yes.

[VB1001]

CFM: 312  Wow! Assuming lots of 20 meters? 40? Or during a sunspot cycle, 10-15? I used to have a quarter-mile wire, 160 was fun, but not reliable DX.

Triband Yagi 10 / (12) / 15 / (17) / 20

Dipole V 40 / 80

SSB / CW / RTTY

Active since 1992

[Elwar]

The W200 has held yes or no? Yes.

The W200 held in 2015 even though it closed slightly under it for two weeks in a row and also wicked below it twice, yes or no? Yes.

The W200 has never been broken decidedly in the history of BTC charting, yes or no? Yes.

This means we shouldn't get ahead of ourselves, yes or no? Yes.

Do I like your beating us up style?  Yes.

Do I understand it?  No.

Do I believe that you are saying that we can only go down so far?  Yes.

Am I hoping the bottom is in?  Yes.

I thought he was talking about ham radio.

[JayJuanGee]

I can't figure out what that is.  Is it a giant log of poop or what?  That must be one of those special Micgoossens restaurants.

Grown ups do not us the word "poop."  Just saying.       

[VB1001]

The W200 has held yes or no? Yes.

The W200 held in 2015 even though it closed slightly under it for two weeks in a row and also wicked below it twice, yes or no? Yes.

The W200 has never been broken decidedly in the history of BTC charting, yes or no? Yes.

This means we shouldn't get ahead of ourselves, yes or no? Yes.

Do I like your beating us up style?  Yes.

Do I understand it?  No.

Do I believe that you are saying that we can only go down so far?  Yes.

Am I hoping the bottom is in?  Yes.

I thought he was talking about ham radio.

Do you have coverage 12 miles from the coast with the phone?

[Elwar]

The W200 has held yes or no? Yes.

The W200 held in 2015 even though it closed slightly under it for two weeks in a row and also wicked below it twice, yes or no? Yes.

The W200 has never been broken decidedly in the history of BTC charting, yes or no? Yes.

This means we shouldn't get ahead of ourselves, yes or no? Yes.

Do I like your beating us up style?  Yes.

Do I understand it?  No.

Do I believe that you are saying that we can only go down so far?  Yes.

Am I hoping the bottom is in?  Yes.

I thought he was talking about ham radio.

Do you have coverage 12 miles from the coast with the phone?

Yes. That is how we get Internet.

My phone is not powerful enough to transmit to the tower. But we bought a pocket Wifi and we're able to upload at about 1kbps. I have a repeater with an antenna that I'll be trying out when we get back to the site.

If that does not get us what we need I will have to spend $3k on a booster.

Download can get to around 3Mbps though. We were sitting out there listening to Youtube music.

https://www.youtube.com/watch?v=nzcv5TJkJBA

[Last of the V8s]

https://twitter.com/brian_trollz/status/1089425501960241153

[El duderino_]

Sunday wrong direction ??
Better go UP

[hisslyness]

It's very annoying the Lightning Network conmen are trying to pretend LN while bitcoin has empty blocks vs bitcoin with full blocks that are uneconomical to use would look anything remotely similar to one another.  It's a testnet and they're launching spam channels everywhere that have pocket change in each one and try to pretend each 'line' represents 'decentralization'.  In the real world, the way it's designed incentivizes you to put all your money in a single channel connected directly to a well-connected bank, so the exact opposite of how they try to trick people and portray it as.  

The testnet lines are meaningless, only incentives matter.  Empty channels that nothing flows through is not a valid measurement of anything, just a visual trick.  The real measurement of LN decentralization is basically what % of a user's net worth is all in the same channel and how few channels would actually be moving all the volume in the real world.  For example, do you think someone is going to have 20% of their net worth in a channel connected to the grocery store then 5% to the pet store, yada yada?  Hell no.  They're not going to pay money to open all these channels and then for no reason split all their money up into non-fungible pools that can't be combined to spend on larger purchases.  

How the fuck would you mobilize your cash to invest in anything if you constantly have to keep it in 100 different channels too?  It's not feasible for savers, spenders, for anyone really.  The only way it works at all in a non-clown car manner is having all your money in a single channel connected directly to a bank.  So in other words, LN is completely worthless and is identical to the current banking system.

Roach, despite distracting and less than admirable personal qualities, you get some things right.
When I first looked into Lightning Network, I was thoroughly underwhelmed.  Nothing has happened to change my mind.
LN is a kludge.

Bullshit! He doesn't have any points... it just shows how much roach really understands how LN functions.

Also these Bitcoin Banks are identical to the current banking system, does that mean one of these bitcoin bank can operate fractional reserve banking?

so fucking closed minded and blind!.. always thinking about what is here now. Mate, think 5-10 years from now, what evolution can take place with LN.

100 open channels, again shows how much you know about LN...

[Last of the V8s]

Sunday wrong direction ??
Better go UP

The bull is annoyed

everyone is pumping grin over in the shitcoins forums

[El duderino_]

^
F*** that F***ing grin shit

[Last of the V8s]

It's holding. This level seems important.
Youshallnotpass.gif