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

[El duderino_]

via Imgflip Meme Generator

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

[1715281980]

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[1715281980]

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[1715281980]

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[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.

[DaRude]

Blah blah blah larger block blah blah

You have bcash and bsv with larger blocks, go there you have options. What part of we don't want larger blocks is so hard to comprehend

[marcus_of_augustus]

Everybody discussing walls and prices ... bear shows up and shit dumps a bunch of bcash shitposts 

anyhooo .... but check out that 2000 btc wall on bitstamp, don't see those very often anymore!

[DaRude]

Everybody discussing walls and prices ... bear shows up and shit dumps a bunch of bcash shitposts 

anyhooo .... but check out that 2000 btc wall on bitstamp, don't see those very often anymore!

Is it gone don't see it, was it a bid or ask wall?

[jbreher]

30% drop on Bitcoin incoming? Get ready to buy lower!
https://www.tradingview.com/chart/BTCUSD/y4lKlQbn-30-drop-on-Bitcoin-incoming-Get-ready-to-buy-lower/

what is your opinion?

I note that all your RSI sample points above (save the most recent) were taken while the overall trend was bull. In such a case, timing via RSI seems of much less importance than just making a stake. If you think its going up, buy early and hodl always. Keeps you from making a grievous error. pit pat piffy wing wong wang

[wachtwoord]

They paid, but they decided the valuation. Let's just say it was closer to theft than paying a fair price for it.

[JayJuanGee]

wall report  

casualty are mounting but the troops remain focused as progress is being made during the final hours of the assualt

Breaking in progress... Will bitcoin succeed? $5200 on several exchanges already!

Other exchanges doesn't NOT count.



You must be new around here, encycrypto.

FYI..... in these here parts, we reference Bitstamp for our price and walls discussions - unless there just happens to be something notable on some other exchange(s).  Rare, but possible.  

[somac.]

Blah blah blah larger block blah blah

You have bcash and bsv with larger blocks, go there you have options. What part of we don't want larger blocks is so hard to comprehend

I can't agree enough. What kind of sickness is it for people like roach, stolfi, jbreher, etc to come here and spout their non-stop garbage when they know nobody here cares and will never be convinced to care. It has to be some kind of mental illness because there is no logic to it, constantly focusing on the same topic when it has already been addressed numerous times by the other posters here.

And of all the places they target, it's this thread, why? what is it about this thread that attracts them to have these constant discussions? Seriously.

These guys are like the ones you get ambushed by on public transport sometimes, or maybe at the pub. They sit next to you and go on and on about stupid shit over and over again, when it's obvious you want them to shut up. And once you have managed to get away from them, they start annoying someone else.

[JayJuanGee]

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

Hahahahahahaha

I don't feel sorry for you.   


This is the cost of the likely premature achievement of "fuck you" status in the coming years, when you should have been working until your 70s, at least..

Hopefully, when you get to fuck you status you will still have hair remaining in your head... hahahahahah


Go bitcoin go.

[rdbase]

Welcome $5333 my ol' friend!

That was fast to the promised land and rising to all new highs from the highs two days ago.

[jbreher]

Blah blah blah larger block blah blah

You have bcash and bsv with larger blocks, go there you have options. What part of we don't want larger blocks is so hard to comprehend

Yeah, I get it. But some here seem utterly oblivious to the consequences thereof.

[jbreher]

Everybody discussing walls and prices ... bear shows up and shit dumps a bunch of bcash shitposts 

Moi?

In what way is discussing the limitations inherent in the condition of persistently full blocks relevant to Bitcoin Cash? It ain't. Neither BCH nor SV have any concern about the negative effects of persistently full blocks.

Nay, it is BTC that need to contend with such a condition. These are BTC posts.

[JayJuanGee]

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

I mean... holy fuck!!!!

We were pretty certain to get green this week, but look where we ended up.

We have 6 weekly candles in a row that were very modest (averaging less than $100 per candle), and then all of a sudden, we get a seventh candle (in that streak) that is up $1,000.  In my humble bumble opinion, next week is going to be more difficult to get a greenie... we will see, we will see.  Way too early in this week to be predicting what will happen by the time we reach the end of this week.

[Toxic2040]

weekly wall report

I am pleased to report the Bears are crushed sir. Mop up operations continue as units are redeployed and fresh reserves are brought in to bolster the front lines. Carry on.

Maybe we just up and head over this cloud as well. #dyor

#buythedip

#stronghands

[bitserve]

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.

Your way of "sanitising" quotes, cutting here and there makes it loses all context.

I was talking about a future scenario where Bitcoin has been massively adopted just to show how it would be possible and how L2 would play a key role on it.

As I said, we would be talking about one settlement for each thousands of L2 tx's. Also, not all opened channels would be of global payment processors needing a more frequent settlement. Also we would be talking about hundreds of millions daily higher layer tx's. If someday Bitcoin would reach that level of massive adoption it will be gradually adapting to it. And yes, it will be having some blocksize increase along the way, as needed to accomodate the usage from higher layers.

We are not already there. So you can't use future usage numbers with current limitations. That makes no sense. I was just showing that it will be possible to scale MASSIVELY without an accordingly LINEAR blocksize increase... which seems to be the choice of other coins... and that's not SCALING.