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

[jbreher]

... and LukeJr is calling for 300kb blocks ...

He is right. We've Lightning now and 300kb blocks is something more than logical!

Funny definition of 'logical'. With 300kB blocks, it would take on the order of a half of a millennium in order to onboard the world to LN.

How long do you expect each channel to lock funds via HTLC?

[El duderino_]

Dammit late evening call ..... have to do a McDo night shift, 24h stand-by almost feeling like a doctor or something

[jbreher]

It grows 50gb/year.
In 5 years, you'll have to download 500gb data to start your own node. And if you already say "fuck no i am not doing it", now imagine how would it look like in 10 years.

 In 5 years, technology and infrastructure should hopefully have further matured to the point where you start up Bitcoin for the first time, go and take a nice deuce, come back to your system a few minutes later, and should be mostly good-to-go.

 Downloading 500gb for a node 5 years from now should be such an absolute non-issue, it's embarrassing that people are seriously considering taking a backwards step right now, and failing to see the larger picture.

 And you wonder why I'm legit taking crazy pills  

Imagine how I must feel reading this response. Funny world, Bob.

Funny, funny world.

[jbreher]

Chinese mining cartel is selling every bitcoin they mine to defend bcash price.

Evidence?

Oh... And... We all see that you evaded answering Bob's question.

[El duderino_]

via Imgflip Meme Generator

Sorry just when i read crazy pills, Then all is F***ed up

[jbreher]

Never sacrifice security for something pitiful like "low fees" "small blocks".

^^^ FTFY.

[crypmike]

This is so important... rly?  

Lmao, this is gold 🤣I've never seen such ridiculous tweets from any CEO..

[kenzawak]

A restaurant in Barcelona :

[jbreher]

I don't mindlessly support Luke's 300kb blocks neither. I just wanted to point out his angle.

Dashjr has been spewing his insane 'smaller blocks' schpiel since years. It dovetails neatly right between his insistence that the sun circles the earth, and his conviction that it is not immoral to summarily execute every human that does not believe his exact picture of magic sky fairy.

[El duderino_]

Never sacrifice security for something pitiful like "low fees" "small blocks".

^^^ FTFY.

via Imgflip Meme Generator

[Last of the V8s]

[crypmike]

[jbreher]

The BIG blockers were neither coming from a good place,

Same place as you, mon frere.

nor did they have justification

All the justification needed. How soon you forget: Censorless. Permissionless.

nor genuine motives

Absolute twaddle.

for their dumb-ass talking points.

Which, of course, is why they needed to be purged from public discourse by the high priests of the Bitcoin information venues.

[El duderino_]

If you don’t have a deep understanding of:

1. What money is
2. Functions of money
3. Monetary history
4. Money properties that fulfill its various functions

Then don’t you dare criticize Bitcoin.
https://twitter.com/alecziupsnys/status/1095092744337453061?s=21

And the more you learn about those 4 things, the more you realize bitcoin was designed by people who know what the hell they're doing.

[jbreher]

You still have to download and verify the blockchain first before you prune it.

Correct me if I am wrong.

Well, I don't know the current situation, but some years ago, gmax stated that core no longer verifies back to the genesis block, relying instead upon a centralized checkpoint as 'good enough'. Still downloaded, just not verified. Weird.

[El duderino_]

Early into HODLspace

Good night Observers of the Wall ........

[ivomm]

What is so special about this price (3600$ Bitstamp and 3700$ Bitfinex) that we sit here for 1 month?!? Is this some major resistance that will turn the tide or what? What are the buyers waiting for - another bart? It is silly and greedy to wait with cash for a few % more at this ridiculous price. Well, at least the buy support to 3200$ increased significantly. Do these "buyers" realy believe their bids will be fulfilled:

[criptix]

What is so special about this price (3600$ Bitstamp and 3700$ Bitfinex) that we sit here for 1 month?!? Is this some major resistance that will turn the tide or what? What are the buyers waiting for - another bart? It is silly and greedy to wait with cash for a few % more at this ridiculous price. Well, at least the buy support to 3200$ increased significantly. Do these "buyers" realy believe their bids will be fulfilled:

Most people are still scared because the bear market COULD still go one more -50%.

People need to regain trust again, which will start the accumulation phase.

If the accumulation phase is over then we will transition into the next bull run.


Imho we will probaly have the next bull run starting in around 20+ months

[JayJuanGee]

It's .3x... hahahahahaha

[HairyMaclairy]

You still have to download and verify the blockchain first before you prune it.

Correct me if I am wrong.

Well, I don't know the current situation, but some years ago, gmax stated that core no longer verifies back to the genesis block, relying instead upon a centralized checkpoint as 'good enough'. Still downloaded, just not verified. Weird.

FUD unless properly sourced.