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

[jbreher]

Still unanswered: How LN is going to help when Layer 1 is already clogged to the point of uselessness.

We will cross that bridge when we get there.  

If this price pump continues, we could get there next week. Unfortunately, there is no solution on the horizon under discussion.

And, get the fuck out of here with your exaggeration that there is no plan in BTC..

OK, JJG. Tell me what the plan is to deal with the fact that once blocks are persistently full, then average fees rise uncontrollably, average wait times raise uncontrollably, LN channel openings and closings get economically prohibitive, and number of new entrants gets hard-capped.

What is the plan, JJG - what is the plan?

Bitcoin don't no need additional plan,

So you admit that the bolded statement of yours above was an untruthful attack.

[bitserve]

Can we just not let the arguing with jbreher polarize sides as if there was no middle more reasonable field?

Bitcoin is scaling the right way. But that doesn't mean it won't have a moderate and reasonable block size increase in the (near?) future.

L2 is the way to go, but block size will also need some (linear, not exponential as that's what L2 is for) capacity upgrade sometime.

and are we really just giving blockstream inc. a pass?

I am not sure what you mean. Some say blockstream wants to focus on L2 (something that I consider extremely important for scaling) and also that they won't ever allow a block size increase (something that I am not sure if it is just FUD, because that sounds simply stupid).

My point of view is that Bitcoin needs both L2 and a gradual blocksize increase, being L2 responsible for most of the massive scaling and block size increase enough to support L2 and bigger/not so frequent tx's directly on-chain.

Also I am pretty sure whatever is done need to be done via CONSENSUS. Other than that would not be Bitcoin, but just a worthless copycat (and we already have enough of those, don't we?)

[jojo69]

It seems to me that we have ceded a great deal of influence on BTC development to a single corporate entity.

[bitserve]

It seems to me that we have ceded a great deal of influence on BTC development to a single corporate entity.

Maybe... except we haven't really "ceded" anything as "we" didn't have any real influence over that outcome.

Also I am not completely sure about how much real influence they do or not have. I mean, they for sure do have a lot but.... too much? Donno.

I will be clear... I am 100% for L2 as a scaling solution, but I am also advocating for a CONSENSUATED linear blocksize increase in the near future.

For full disclosure: I was even pro Segwit2X at the time..... *if* it have had CONSENSUS, which it didn't.

And I still think that had Segwit2X went thru, all other forks would already be in the grave instead of just agonizing.

[kurious]

The price has risen by 50% in less than four months and we're a bit 'meh' because it's not doing more.

No wonder the institutions are terrified of it

But Bicoiners can handle it; they can't. 

Gotta love it - we are veteran soldiers in a world where others will follow in awe that we were there when it all started.


Some bloke called Kipling talked about what it takes to hodl:

If you can keep your head when all about you   
    Are losing theirs and blaming it on you,   
If you can trust yourself when all men doubt you,
    But make allowance for their doubting too;   
If you can wait and not be tired by waiting,
    Or being lied about, don’t deal in lies,
Or being hated, don’t give way to hating,
    And yet don’t look too good, nor talk too wise:

If you can dream—and not make dreams your master;   
    If you can think—and not make thoughts your aim;   
If you can meet with Triumph and Disaster
    And treat those two impostors just the same;   
If you can bear to hear the truth you’ve spoken
    Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
    And stoop and build ’em up with worn-out tools:

If you can make one heap of all your winnings
    And risk it on one turn of pitch-and-toss,
And lose, and start again at your beginnings
    And never breathe a word about your loss;
If you can force your heart and nerve and sinew
    To serve your turn long after they are gone,   
And so hodl on when there is nothing in you
    Except the Will which says to them: ‘Hodl on!’

If you can talk with crowds and keep your virtue,   
    Or walk with Kings—nor lose the common touch,
If neither foes nor loving friends can hurt you,
    If all men count with you, but none too much;
If you can fill the unforgiving minute
    With sixty seconds’ worth of distance run,   
Yours is the Earth and everything that’s in it,   
    And—which is more—you’ll be a Man, my son!

Nite all...

[El duderino_]

^
Gonna read it tomorrow as well
Crawling in HODLposition.......

But #HODL-on

Good night WO’s

[jojo69]

the dead hours

[xhomerx10]

Parallel lines have so much in common.  It's a shame they'll never meet.

[nanobtc]

FOMO on BTC means different things, to different people.

To the OG here, who have 'been there, and done that', 30% in three days reminds them of the good old days. Days of Future Passed (make up your own Moody Blues joke here, senior citizens).

To the new kids on the block here, it's more "OMG, I won't have to work!" {Todd Rundgren: Just want to bang on the drums, all day}.

I'm new here, I cannot yet understand everything jbreher says, but he does have a few clues about what is real.

[Lambie Slayer]

110 days into the new BTCaby BTCull Market and all is well. 

[Toxic2040]

Good evening all.

The eight o'clock all is well report has just come in...ehem.

All is well.

We now return to our regularly scheduled programming.

------
bitcoin

Strong support at the $4.9k range has opened up a foothold for the path upwards as the battle for 5k continues. Slowly rising support levels have buoyed the flagging spirits of the Bulls as they gather their strength for the upcoming weekend assault. Bears also appear exhausted as sellers are unable to break below the strong 0.236 fib support.

The action is sure to heat up as we move closer to Friday so stay tuned folks.  Brought to you by #dyorandbtd's inc.TM
  
------

kingfisher sounds a call
1h


tall ships to the east
D

#stronghands'19

[Lambie Slayer]

https://www.newsbtc.com/2019/04/04/speculate-bitcoin-use/

"However, recent research indicates that emerging markets are rapidly getting into Bitcoin and their buying patterns suggest that their interest lies in more than simply speculation."

Dat organic adoption.

[Toxic2040]

4h

#milkandcookies

[JayJuanGee]

^^^
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    

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.

What some people (to the extent that they are "people") seem to fail/refuse to recognize and appreciate is that sometimes it is necessary to NOT be polite to trolls/shills.  

Some of the trolls/shills can be passive aggressive in order to attempt to cause more people to listen to their bullshit and their misleading information.  

Jbreher is like this, just like jstolfi was like this.  

Forum members like jbreher (including  yours truly), just like they liked jstolfi (I never did like jstolfi, even though he tended to be polite as fuck).

[jojo69]

[JayJuanGee]

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 don't run anything at the moment.

Maybe we could get infofront to structure a poll around this question?  You know how good he is at structuring specifics into his polls.  














NOT


hahahahahahaha *****

(*****  A joke that is partly based on reality... NO need to take it personally, infofront, right?)

[VB1001]

Good morning !

WO,s  thread is the Full Node. 

[Lambie Slayer]

^^^
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    

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.

What some people (to the extent that they are "people") seem to fail/refuse to recognize and appreciate is that sometimes it is necessary to NOT be polite to trolls/shills.  

Some of the trolls/shills can be passive aggressive in order to attempt to cause more people to listen to their bullshit and their misleading information.  

Jbreher is like this, just like jstolfi was like this.  

Forum members like jbreher (including  yours truly), just like they liked jstolfi (I never did like jstolfi, even though he tended to be polite as fuck).

Im with you on Stolfi. He was a true piece of shit. I regret not having more of a chance to go after him, but he split right after I slayed/outed Kaminska and never returned. I still rub it in on twitter to both of them every now and then. I believe the bull market was rough on the old mans health and pockets(lets be real, we know he was shorting BTC) and he never had the courage to return.

Big difference between Jbreher and Stolfi is Stolfi would willingly mislead, and pretend that everything about Bitcoin was shit, when he knew it wasn't. Stolfi like Kaminska would use the WO as a sounding board to craft and hone their deceptive bear arguments. Kaminska tried to monetize this with her Financial Times job by writing tons of anti Bitcoin articles, and Im sure Stolfi was at least plotting to write an anti Bitcoin book or something of the sort(probably shopped it around constantly and couldnt get a publisher).  

The one thing all uber banker bear shills have in common is they have hopes and ambitions of monetizing their hate for Bitcoin. Stolfi was such a loser, he couldnt figure out how and gave up.

Jbreher seems to just have his own sincere opinions about what is best for Bitcoin and isnt ready to concede defeat in the Scaling Debate that most of us already consider to be over and won.  Also last I remember he still is a devoted long time hodler of Bitcoin, which makes him alright in my book.  

[Lambie Slayer]

Roach shot his mom's boyfriend bc he tried to touch him

[JayJuanGee]

I fomo bought $200 worth of bitcoins today from the $5000 price tag. After all those years, I still fall for this old trick.

I bought some from $15k too after all. $5k looked very cheap compared to that.

Long-term you are very likely to be fine.

I have told my own story before.. not without exact details, but throughout 2015 I had been relatively reserved in my BTC buying so I had a bit of an extra stash of money that was just waiting to buy BTC if the price stayed flat or if it went down.  

So when BTC prices shot up from upper $200s to $500 in less than a week, in early November 2015, I ended up buying very close to the $500 price with a large portion of my reserve cash.. almost all of it, if I recall correctly.

BTC price then dropped back down to $300 and largely bounced around between $350 and $450 for more than 6 months... so that one dumbass FOMO buying of mine did not become profitable until after the end of May 2016.. when BTC finally went above $500 again, and never to be revisited.

That mistake continues to come to my head when I think about how to approach my BTC, and I wonder whether we can really learn how to buy on dips, accumulate BTC and strategize our attempts to be profitable without having some of these kinds of experiences that really teach us on a very personal level.  

My point, in part, is that 2015 was a very struggling year for me in terms of cashflow, and all year long I was building my fiat cushion, and really that fiat cushion was to buy BTC, but I was always anxious about having enough of a fiat reserve and probably also feeling a bit shell shocked too because I did not always have money to buy as much BTC as I wanted when the BTC price would dip in great ways from time to time and more than I was prepared for.... So, yeah, I blew at the local top of $500 nearly all of that built up armored fiat that I had in my reserves.. and kind of shut myself out (partially handicapped myself) of doing as many things until those coins became profitable again... almost  7 months later.

By the way in early November 2015 when I bought at $500, I was calculating that I was getting out of the negative zone, and my mental state was pondering that I was never again going to be able to buy BTC under my average cost per BTC because I saw the BTC price going UP and UP and UP... stupid and a bit embarrassing when I think back on my own, in the moment, excitement based reasoning.