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

[encycrypto]

I really should be going to bed. Can’t when the old corn is behaving like this though

Don't forget, next one and a half hour are critical. Candle closing coon. It'd be bullish if it closes above $5150.

[HairyMaclairy]

I think I can now safely predict we are going to close this weekly candle on the green.

Y so reckless?

[bitserve]

Wall pulled

It was not pulled. I watched every one of those 1700 coins get bought.

Well sheet that was fast then.   60 seconds for 800 coins?

YUp, in big chunks: 267, 100, 200, etc....

[bitserve]

I think I can now safely predict we are going to close this weekly candle on the green.

Y so reckless?

Calculated risk, yo

#YOLO

[spooderman]

it can always be someone buying their own wall, but the volume says it was traded, not pulled.

[yefi]

two words

coin lab

All that's needed now is for the trustee to lose all the coins and the Gox cycle of misery will be complete, ha.

[toknormal]

 I don't think that was someone buying their own coins. The wall was there yesterday. It started off at around 1720 BTC and the market bounced off it after taking about 400 out of it. Then it took a day of consolidation for it to build up enough appetite to finish it off.

Looked organic to me. (As organic as a crooked carrot).

[ivomm]

Wall pulled

Edit:  now there’s a buy wall @$4800.  Heh. 

No...

It was eaten

I watched every single one of those coins get bought

BTC be like:

[Toxic2040]

outer walls breached..time to reduced the inner fortifications

#stronghands'19

[toknormal]

Another wall bulldozed down. That represented the top of the 3-Day chart Ichimoku cloud of doom. We're just popping out the top of it now.

[jojo69]

metal riff intensifies

[HairyMaclairy]

We bounced off the 300 day MA last spike.  It is now sitting around $5300. 

[encycrypto]

Dumpin' already!?!?

Wait, it's just the volatility!

[El duderino_]

We bounced off the 300 day MA last spike.  It is now sitting around $5300. 

Good to know .... exactly a good time to go into my HODLplace

Sleep tight, other members good morning

All together keep up the HODL


Btw where DA F**K DA r0ach @?

[El duderino_]

via Imgflip Meme Generator

https://twitter.com/redditbtc/status/1114960885678772226?s=21

[JayJuanGee]

I like to publish the contrary opinions (FUD) you have to know what they think.

I have gotten to understand your posting habits well enough to know that you are generally posting bullish stuff, and decent bitcoin information. 

Nonetheless, frequently it will be good to highlight some level of analysis or pointing out that you are skeptical of the information.. meaning that you suspect that there is some FUDDING going on.  .. especially for the FUD materials...

 Ultimately, you do what you like, but sometimes information could be read out of context if you do not highlight the seemingly FUD part of it.

[jbreher]

They will probably just reuse LN channels and just settle them regularly. With enough transactions, maybe they would be settling those channels hourly...

Settled? You mean become actualized on the Bitcoin chain?

Yes, ...

Ohkaaay.... If the average channel is settled on chain hourly, then given current block size, you have limited the Lightning Network to about 20,000 channels. Not users, channels. IOW, I think you might want to work on your hypothetical scenario.

Current LN channel capacity limit is just a temporary safety measure... It will get raised as needed.

That's what used to be said about block size.

About your second point... well, if they were as evil as you sometimes imply that they wanted to cripple L1 and just move everyone to L2 they would need to raise that limit.

Mw wise old grandma used to say something along the lines of 'never attribute to malice what can adequately be explained by stupidity'. I don't know whether or not that is apropos in this situation, but the effects are the same upon the rest of us in either case.

[jbreher]

... insults is all he's got.

I disagree with him on many (most) points but this...just ain't so.

For sure he's a smart guy and makes some good points.

"Smart" isn't in short supply. I grew up in a smart city, was surrounded by smart people, went to a smart university, got a smart degree. I'm just not impressed with "smart." Some people can be extremely intelligent by some measures and especially dumb in others. So what is "smart"?

In my experience, honesty and integrity are far more scarce and far more valuable attributes. I've watched "smart" people destroy the world around them, and themselves, during the course of my lifetime. I'm just not impressed by "smart."

"A hard cap on on-chain txs is a hard cap on on-chain txs, any way you try to spin it." <- then it doesn't matter what size you raise the blocks? how could you advocate larger/bigger blocks when you do not believe in it as a solution to deal with transaction congestion.

WTF are you babbling about? I advocate larger blocks, as I do believe in it as a solution to deal with transaction congestion. Quite a splendid one, in fact.

Lets keep raising it to the point where the blockchain/database/ledger is so massive, no one is going to want to run a full node.

There will always be those who with to run a full node, if only for the ability to trustlessly process incoming payments.

The other misconception he is pushing is, "higher fees". As much as we all like to pay nothing for something, the true reality is, we need fees to keep bitcoin secure!

The miners don't need your centrally-planned price controls.

You actually remind me of r0ach, when you can not defend your position or answer anything, you just go on a tangent and throw out statements which make no sense..

You still haven't mentioned what size blocks you think Bitcoin needs... reminds me of the little do'er carpet commercial, "tell them the price son!, the price!"

"Tell me the blocksize son! the blocksize!"

The _protocol_ needs no maximum on the block size. The miners, being the ones who are affected by the block size, can set it without your soviet. At whatever point makes sense from a market demand and supply perspective.

[jbreher]

reserve the order Lambos, Aston, Bentley...

meh. I'm thinking more on the order of Cirrus or Epic.

Lol, You are on another level.

Not a bad level to be. I wish it for all my WO brethren. Even those with whom I spar.

[jbreher]

Incredible to think we were at $31xx not all that long ago. It’s been a great recovery to be fair. I remember how panicked I was as the price dropped like an avalanche from the ATH last year.

I was cool as a cucumber from $20K to $6K. It was obvious that the market had been getting ahead of itself, and would pull back. Just like so many times before.

It was the final fall from a long plateau of $6K down to $3K that broke my spirit.

Broke my spirit, but not my resolve. The bottom ain't no place to be selling.