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Question: What year will we achieve a new ATH?
2019 - 14 (34.1%)
2020 - 16 (39%)
2021 - 9 (22%)
2022 - 0 (0%)
2023 - 0 (0%)
Never - 2 (4.9%)
Total Voters: 41

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21168971 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. (23 posts by 12 users deleted.)
nutildah
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April 04, 2019, 05:10:16 PM


How many people in this thread run their own node? One? Two?

One!


Cool. I'm actually interested to know the answer to that question...

Was it LFC that was running a Lightning node for a while? I know somebody was...

Everyone who runs a node please raise your hand.
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VB1001
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April 04, 2019, 05:13:02 PM

^
1 Full Node

My first thread in Bitcointalk / How Many Full Nodes Bitcoin Online ?

https://bitcointalk.org/index.php?topic=5080565.0



LFC_Bitcoin
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April 04, 2019, 05:14:25 PM


How many people in this thread run their own node? One? Two?

One!


Cool. I'm actually interested to know the answer to that question...

Was it LFC that was running a Lightning node for a while? I know somebody was...

Everyone who runs a node please raise your hand.

2 full nodes! Not a lightening node though. I think Boblawblaw runs one.
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April 04, 2019, 05:15:12 PM


It is all driven by the block size, and dependent upon how many txs per day the average user makes. Any way you slice it, on chain tx capacity is limited by the block size. And inability to transact on chain also breaks LN - no opens, closes, or repudiation of stale channel state driven theft.

OK but that's never happened.

Absolute twaddle. I know you were here in 2017. Have you already driven the Blockapocalyse I from your memory? Too much "champaign" over the skyrocketing fees?

Quote
Its always "what if" scenarios with you anti-bitcoiners.

Of course it's always "what if" - the "what if" scenarios are the essence of system design.

Get the fuck out of here with your "anti-bitcoiner". Why TF do you think I incessantly harp on these BTC weaknesses? It is because I would like BTC to succeed. I don't take this nonstop, most-often ignorant and/or non-substantive abuse because I like it. I am trying to advocate for Bitcoin -- in all its forks -- to be all it can be.

Quote
Earlier you said "the number of people who will be able to use BTC is hard-capped at a ludicrously low number." This is false on all accounts. If you would have said "the number of transactions per day on chain is hard capped" then I would have been inclined to agree.

OK. I mean, BTC can support a fuckload of people if none of them ever makes a tx. But that's not a usable MoE nor SoV. Not to mention the fact that to even get there will take literally decades. Like forty years for each person alive to make a single tx to buy into the system.

Quote
Daily tx capacity is highly variable upon the nature of that's day's txs, but it is well south of a million. So there's your hard cap.

I did the math and the tx per day is theoretically 604,800 at the very maximum. We're currently just shy of 400,000.

Yes. Well south of a million. And we don't have much headroom today. The next FOMO spike will be aborted due to tx capacity. We may even cap before that can take place.

As I queried JJG above: what is the plan to deal with this? There is none being discussed.

Quote
Two key points you never address are:

1. Encouragement of Lightning adoption will help prevent bitcoin from coming close to this, and the technology continues to progress and improve with or without your permission.

Use of LN requires on-chain txs. Once the chain is full, LN breaks. We're bearing down on Blockpocolypse II, and there is still no relief valve.

Not to mention the relative irrelevance of LN in general. The average BTC on-chain tx is currently around $20,000.00. What's LN channel max value again? What percentage of Bitcoiners operate an LN node? What percentage of LN txs succeed on first submission? How much time does a typical LN-er devote to managing their LN node? Nay, LN is nowhere near being a suitable replacement for good old Bitcoin. It may get there some day. Far in the future.

Quote
2. The block size is limited for a specific reason: having a huge blockchain results in increasing centralization. How many people in this thread run their own node? One? Two? The blockchain is already too unwieldy for your average bitcoin enthusiast to run a full node. Making it even bigger will insure that an even smaller proportion of people will be able to run a node.

Oh yes. The 'buhbut mah decentralization' canard. For the eleventy-bajillionth time, so-called 'nodes' provide no value to the system as a whole. But let's set that aside, as that's another twenty-page discussion in and of itself. Let's ask the question 'what percentage of LN users also operate a so-called 'node'?'

Quote
Of course BCH and SV don't have this problem, because their blocks remain tiny and unfilled.

How quaint of you to claim that, when SV has processed multiple blocks larger than 100MB.

That's kind of an aside, however, as the entire point is to have capacity to accommodate the demand. Which is the economic model that nurtured Bitcoin until Blockstream threw out all the sane devs.
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April 04, 2019, 05:15:52 PM


How many people in this thread run their own node? One? Two?

One!


Cool. I'm actually interested to know the answer to that question...

Was it LFC that was running a Lightning node for a while? I know somebody was...

Everyone who runs a node please raise your hand.

I run a public bitcoin node and a private lightning node without any open channels Smiley
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April 04, 2019, 05:16:54 PM

^^^
I remember me being a bit rude towards him as well, and he always countered me very polite, I (already longer time) massively changed my behavior towards him cause as you say, on BTC everybody can have his own OPINION, I do hate Jbreher's thought but @the same time he does own BTC as well .... so can't be so bad, later on he will regret of not being completely in BTC alone...
But I do remember me acting wrong towards him, common Jbreher go FULL BTC  Cheesy  Cheesy

You know mic I tried being polite to him in turn but then sometimes he's just massively cockish for no good reason and my desire to be polite flies out the window.

You seem to be conflating a discussion of differing ideas as an attack. Perhaps you are so wedded to your dogma that any criticism of your axioms appears to you as a personal attack.
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April 04, 2019, 05:19:06 PM

Everyone who runs a node please raise your hand.

Several.
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April 04, 2019, 05:24:47 PM

For reference and educational purposes only.

Standard cloud to compare against doubled cloud of previous D img. This is why it is good to change your perspectives often. Looking at each of these daily charts with the different settings might lead you to different conclusions as to which direction the price might be heading. For me, the standard cloud settings of 9,26,52,26 seem to work better in the shorter time frame and the doubled settings of 18,52,104,52 or 20,60,120,60 appear to work out better in longer time frames. For best results, its usually a mixture of all of the above to put it simply. Charts are good to provide frames of reference but should be viewed not as something static but something that is in a constant state of flux. #dyor
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I have multiple nodes..do you think I should see a doctor for that? Undecided


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April 04, 2019, 05:24:54 PM

we talking BTC nodes here or lightning?
VB1001
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April 04, 2019, 05:27:21 PM

^
It seems to me that of the two.
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April 04, 2019, 05:42:20 PM

Well, if this was a planned bear attack, it was doomed before it started. The general mood is very positive, and traders do not recongize any historic resistance all the way to 6K. So the battle for $5K is pointless. Bulls already won it!

hmm i am not so sure
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April 04, 2019, 05:53:22 PM


It is all driven by the block size, and dependent upon how many txs per day the average user makes. Any way you slice it, on chain tx capacity is limited by the block size. And inability to transact on chain also breaks LN - no opens, closes, or repudiation of stale channel state driven theft.

OK but that's never happened.

Absolute twaddle. I know you were here in 2017. Have you already driven the Blockapocalyse I from your memory? Too much "champaign" over the skyrocketing fees?

Oh thats right, the great blockapocalypse. Bitcoin broke, there was chaos in the streets, we all cried, and then died. We're all dead now, same as bitcoin.  Roll Eyes  Besides, Lightning wasn't around then. That's the difference.

Of course it's always "what if" - the "what if" scenarios are the essence of system design.

Get the fuck out of here with your "anti-bitcoiner". Why TF do you think I incessantly harp on these BTC weaknesses? It is because I would like BTC to succeed. I don't take this nonstop, most-often ignorant and/or non-substantive abuse because I like it. I am trying to advocate for Bitcoin -- in all its forks -- to be all it can be.

From your constant assault on bitcoin it would seem that you hate it. But thanks for making this clarification.

OK. I mean, BTC can support a fuckload of people if none of them ever makes a tx. But that's not a usable MoE nor SoV. Not to mention the fact that to even get there will take literally decades. Like forty years for each person alive to make a single tx to buy into the system.

Have you ever considered that it doesn't have to reach every person alive to be a success? It's already an astounding success -- far more than anybody could have possibly imagined when it was getting started.

The next FOMO spike will be aborted due to tx capacity. We may even cap before that can take place.

More unsubstantiated "what if" fearmongering from the man who only beats bitcoin because he loves it so much.

Use of LN requires on-chain txs. Once the chain is full, LN breaks. We're bearing down on Blockpocolypse II, and there is still no relief valve.

1. Blockpocalypse 1 never happened. Its a fear-inducing term used by bcashers and SVers to make themselves feel righteous about choosing their particular shitcoin.

2. The chain has never been full. Again, you're trying to claim that the chain will be unusable which has never happened. Expensive or slow is hardly the same thing as "unusable."

Not to mention the relative irrelevance of LN in general. The average BTC on-chain tx is currently around $20,000.00.

The median transaction amount is a more encompassing measurement, and that is $412. But I'm sure you also point to average tx fees when stating your tired and endlessly-trotted argument that bitcoin sucks.

What's LN channel max value again?

LN isn't meant for huge transactions. Its meant for every-day transacting. It wasn't developed for Wall Street or whales to shift around millions.

What percentage of Bitcoiners operate an LN node? What percentage of LN txs succeed on first submission? How much time does a typical LN-er devote to managing their LN node? Nay, LN is nowhere near being a suitable replacement for good old Bitcoin. It may get there some day. Far in the future.

LN is currently at record participation and continues to grow by the week. OK at least you admit it may get there. That's an important step.

Oh yes. The 'buhbut mah decentralization' canard. For the eleventy-bajillionth time, so-called 'nodes' provide no value to the system as a whole. But let's set that aside, as that's another twenty-page discussion in and of itself. Let's ask the question 'what percentage of LN users also operate a so-called 'node'?'

Again, this is your opinion, shared by relatively few. I don't understand how you arrived at your conclusion but I've never really cared. Nodes have always been a sign of strength and health of any cryptocurrency network. This doesn't change because you say so. Everyone who opens their own LN channel operates a node, as far as I know, but not everybody has to run a node to use Lightning.

How quaint of you to claim that, when SV has processed multiple blocks larger than 100MB.

Why is the BSV blockchain significantly smaller than BTC's then? Surely it should have passed BTC by now at that rate.

That's kind of an aside, however, as the entire point is to have capacity to accommodate the demand. Which is the economic model that nurtured Bitcoin until Blockstream threw out all the sane devs.

What demand? That's the point. There's very little demand and very little reason why there would be in the future. Wright is destroying BSV with his idiotic antics faster than people can give it the time of day. There's really no point in attacking BCH or BSV any more because their "prophets" are killing their projects themselves.
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April 04, 2019, 05:54:06 PM

we talking BTC nodes here or lightning?

I was just trying to get a count of WO members who ran their own nodes, with or without Lightning.
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April 04, 2019, 05:55:34 PM
Merited by DaRude (1), mindrust (1), nutildah (1)

Can people stop engaging Jbreher. If I want to read his bullshit I'll go to /r/btc. He's beyond salvation.
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April 04, 2019, 06:00:18 PM

Can people stop engaging Jbreher. If I want to read his bullshit I'll go to /r/btc. He's beyond salvation.

Sound advice. Obviously nobody's changing his mind about anything. I don't even know why I try. Guess I don't want to change his mind as much as not let him get away with spouting unfettered reams of bullshit.
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April 04, 2019, 06:01:15 PM

we talking BTC nodes here or lightning?

I was just trying to get a count of WO members who ran their own nodes, with or without Lightning.

Full node here as well...

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April 04, 2019, 06:02:32 PM

Can people stop engaging Jbreher. If I want to read his bullshit I'll go to /r/btc. He's beyond salvation.

He seems ok as a person but his bitcoin views seem a bit silly. He’s clearly a really intelligent guy so I see his pro BCH & BCHSV agendas as very suspicious.

I think he’s very likely to be a paid shill.
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April 04, 2019, 06:07:00 PM

we talking BTC nodes here or lightning?

I was just trying to get a count of WO members who ran their own nodes, with or without Lightning.

well yeah then, who doesn't run a BTC node?
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April 04, 2019, 06:09:01 PM

Can people stop engaging Jbreher. If I want to read his bullshit I'll go to /r/btc. He's beyond salvation.

BTC-wise agree
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April 04, 2019, 06:10:12 PM

we talking BTC nodes here or lightning?

I was just trying to get a count of WO members who ran their own nodes, with or without Lightning.

well yeah then, who doesn't run a BTC node?

I sure don't. My laptop hard drive in 100 GB. Also, my internet access is slow and intermittent (3rd world problems).
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