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

[Lightblock]

Bitcoin is Processing Fewer Payments Per Month Than It Was in 2016

https://www.longhash.com/news/bitcoin-is-processing-fewer-payments-per-month-than-it-was-in-2016

https://i.imgur.com/YajVFSk.jpg

yes because of LN.

EDIT: LN is off-chain and you cannot measure numbers. within a channel payments are not visible.

Hey, Gyrsur - you seem LN conversant. Maybe you can help me with something I've been puzzling over. 1ML (https://1ml.com/statistics) publishes something they call 'Updated Channels (24h)'. Are you aware of a definition of this term?

It means that some of the channel parameters have changed over the past 24 hours. Most of the time it is the capacity that changes - for example it could increase.

[somac.]

Bitcoin is Processing Fewer Payments Per Month Than It Was in 2016

https://www.longhash.com/news/bitcoin-is-processing-fewer-payments-per-month-than-it-was-in-2016

yes because of LN.

EDIT: LN is off-chain and you cannot measure numbers. within a channel payments are not visible.

Hey, Gyrsur - you seem LN conversant. Maybe you can help me with something I've been puzzling over. 1ML (https://1ml.com/statistics) publishes something they call 'Updated Channels (24h)'. Are you aware of a definition of this term?

sorry, at the moment I have no idea what it could mean. unfortunately 1ML do not have an explanation of the statistic values so far.

Well shit, Transactions per day are almost at the ATH. So shit ain't too bad is it

[JSRAW]

Yeah fuck all that TA stuff, were fine, price is going to zoom up.

Sitting duck is good sometimes.

Not touching anything!

Hodl guy did a good job, price did close above the trend line, i entered long potions, as long as we don't close below it we should head back to 4200$ , but i am keeping a tight a SL below the trend line, i will also be taking partial profits along the way

TP targets on BTCUSDT ;

1- 3913
2- 3990
3- 4180

those who want to go long could wait for a retrace , enter when price touches the trend again at around  3820$


overall view is still very bearish, i also think 4400$ will be a good shorting opportunity back to the 200SMA on the weekly (3300-3400) .

good luck.

Hodor saved the Bran and he held the line for us too

I am not much into trading but do have a couple of order pending already with fresh fiat and not taking any new position till my previous orders get filled. so no fomo if it hits $4200 mark again.

Personally, I don't mind entering in $3300-$3600 price range if it stays the same for a couple of months or next 6 months.

[bitserve]

When the dump happened I wondered if we would see a huge BSV rise soon after... I kind of wish I had posted when I thought it so I'd look extra geniusy.  

But I am wondering if the big seller(s) might not be a BSV insider?

yes you were right..BSV rebounds violently...

This has been a recurring pattern, and at times it has also coincided with an interesting bump in the privacy coin sector.  But I think we saw this with the first BTC/BCH fork, and I think we are seeing it now.  Not sure if this is Calvin Ayre, CSW, or someone like Daniel (hyperbitcoinization) whassisname who probably sits on a big stack of BTC.  I doubt our own resident BSV lover has quite *that* many bitcoin to cause this sort of drop.  Not to mention the fact he *has* to be waking up to the reality that BSV is being run by the circus.

Krawisz?

You're kidding, right? While all the Core Cognoscenti are narrow-mindedly focused upon how else they can belittle CSW, the real work is being done by the scores of BSV devs.

Oglegasm at the public shaming sideshow. Ignore the progress -- accomplishments overlooked by the cryptoverse -- to your own peril. Until one day you wake to a new world with BTC again suiciding itself by strangulation, and BSV taking up the vast demand for an uncensorable, permissionless, decentralized, and boundless incorruptible worldwide ledger.

And no, I don't have enough BTC to move markets. But other thoughtful people do.

It could also happen that one day you wake up and not only LN is being widely used as a cache for (most) of small tx's but Bitcoin has doubled it's blocksize (something that should happen sometime in the future) and BSV proofs to have only been a failed experiment.

Yes, I am and have always been in favour of a moderate and reasonable gradual block size increase. I was in favour of Segwit2X IF it had had enough consensus. First things first, and that was Segwit and LN. Now any time they decide to double (only double for now) the blocksize would be welcome.

I am sure you are well hedged against that scenario and will do fine no matter what.

[RayX12]

Venezuela is one of the cheapest places in the world (on record) to mine bitcoin because of the really cheap electricity prices. Anybody feel like going to live there for 12-18 months & setting uo a mining farm with me?

If I was younger and single I would bite your arm off.
Unfortunately I am neither and will have to make do with my tiny GPu rig costing more on electricity than I am making in coins here in the UK.

Maybe you should listen to this first. https://ledarsidorna.se/2019/02/our-woman-in-venezuela-annika-hernroth-rothstein-this-is-what-happened/

That chick has balls, hot too! I don't think she will go back there again.

https://youtu.be/zXoMIk_h0nU

That is not a country you want to goto now I'd say.

Maybe people can help her by sending her some BTC.
That would be fantastic use of BTC..

[bitserve]

*snip*

Sig ad files above the sig?  

I hope this ain't the future... Sort of bad form, old chap? Nothing personal, just I love it that sig ads are not visible in here.

apologies! just added the sig ad for posts of the Bitcoin Big-Mac-Index which is a project I'm working on and to reach a balanced cost history there.

If I post comments and other stuff here I won't add the sig ad manually to my posts.

Don't want to be an asshole, more so when it doesn't really bothers me... but please take in mind that it could be considered some sort of rule evasion. Sigs are not visible in this thread for a reason (probably in exchange of our generous and more relaxed special posting rules, such as multiposting). Maybe you should ask theymos for permission/clarification?


P.S.: In a completely unrelated topic: HAPPY BIRTHDAY ARRI!

[El duderino_]

https://twitter.com/AlecZiupsnys/status/1100166749008396294

[El duderino_]

Tip: #Bitcoin is volatile because its supply can’t be manipulated to accommodate the erratic demand of the network users to impose stability (unlike fiat).

https://twitter.com/tkurpanik/status/1100152899009695747

[El duderino_]

If you spend your days making a large number of low value decisions, it's time to automate.
If you spend your days making many moderately valuable decisions, it's time to delegate.
Spend your days making a small number of high value decisions: you're probably at peak performance.

https://twitter.com/lopp/status/1099413746521395200

[Cryptotourist]

Venezuela is one of the cheapest places in the world (on record) to mine bitcoin because of the really cheap electricity prices. Anybody feel like going to live there for 12-18 months & setting uo a mining farm with me?

I heard living there is too risky there.

Yeah, if someone had solid connections there I would consider.
Without some sort of reassurances by the locals - it's not possible.

[Last of the V8s]

Well. You can say what you like about the Germans.

[HairyMaclairy]

Venezuela is one of the cheapest places in the world (on record) to mine bitcoin because of the really cheap electricity prices. Anybody feel like going to live there for 12-18 months & setting uo a mining farm with me?

I heard living there is too risky there.

Yeah, if someone had solid connections there I would consider.
Without some sort of reassurances by the locals - it's not possible.

Get a local to run an extension cord across the border

[HairyMaclairy]

Well. You can say what you like about the Germans.

They show up to meetings on time

[kenzawak]

[Lambie Slayer]

Soon a whale will panic dump USD for Bitcoin and activate the Bart.

[erre]

Venezuela is one of the cheapest places in the world (on record) to mine bitcoin because of the really cheap electricity prices. Anybody feel like going to live there for 12-18 months & setting uo a mining farm with me?

It dosen't work like this.
The electricity you are able to take in  beetween the very frequent blackouts is free, but to set up a mining farm you would need support by both governments and the local mafia.
This would be pricey, and risky.

Actually in my opinion the best way to mine would be some kind of agreement with some hydroelectric or nuclear facility, they usually produces an energy surplus which is wasted

[bitserve]

Venezuela is one of the cheapest places in the world (on record) to mine bitcoin because of the really cheap electricity prices. Anybody feel like going to live there for 12-18 months & setting uo a mining farm with me?

I heard living there is too risky there.

Yeah, if someone had solid connections there I would consider.
Without some sort of reassurances by the locals - it's not possible.

Long time ago (15 years ago?) I was dating a (very) rich Venezuelan girl for a brief period of time. The situation was already bad enough that most rich people had flown away, sold their businesses to global corps and bought properties in Manhattan, Monaco, Madrid, etc.... For their homes in Caracas they had almost an army of privately hired (payment shared between several families/communities) security personnel with auto weapons. They knew the government of Chaves was unable and not going to protect them against robbers, hijackers, etc... more so as they were opposed to him. it was very frequent to hear the fire of weapons in the night.

Most of them are well established now out of their originating country, probably to never come back... unless things change.

And I am talking 15 years ago! Can't even dare to imagine what kind of shithole of a country it has become now. You really don't want to go there, much less if you have any money. Really. Completely forget about it.

[d_eddie]

Surely we can see with some degree of accurateness that this postulation bears a degree of accuracy while at the same time and notwithstanding
(snip)
we can also state that there are some figures and other datas on the interwebs which back up these rumorifications

A little out of line, it's not Thursday yet.

V8's keyboard seems to be spewing out gobble-dee-gook.  Even I agree.    

Surely we can see with some degree of accurateness word soup word soup word soup word soup
(snip)

JJ, did you stake a BTC address?

You mean me?  or jojo?  

I know that a joke would not be as good if it has to be explained, but isn't the suggestion that V8 is making fun of me by his long text, not that I took over V8's account or that he would be taking over mine?  I am losing the connection.  

The implication is that as you took over V8's, someone could take over yours for retribution. Funny joke eh?  . I'm embarrassed.

[Syke]

Well. You can say what you like about the Germans.

They like beer?

[Cryptotourist]

Get a local to run an extension cord across the border

Hah, exactly, I hope you like it.

And I am talking 15 years ago! Can't even dare to imagine what kind of shithole of a country it has become now. You really don't want to go there, much less if you have any money. Really. Completely forget about it.

Thanks, but I was not even considering it - I was just saying.