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

[infofront]

This is under the assumption that the block size wouldn't grow when needed, blocks aren't full without outside attacks so there's no evidence that when the time comes we won't increase the block size to a common sense size.

Well, other than the evidence that blocks were kept small the last time they became persistently full. Which, in itself, is pretty strong evidence.

Once the need resurfaces (and it most certainly will), how long do you think it will take to implement the necessary change?

If it was urgent it could probably be done in 48 hours.   But it won’t be urgent.  

It ain't just a river in Egypt.

I would mostly agree with the bear here.
The last full block crisis resulted in inaction, to force people onto segwit. I presume the next full block crisis will result in inaction, to force people onto lightning.

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[Paashaas]

And “resurfaces” is the wrong term as it implies that the need has previously surfaced, which it has not.  The need may never surface.

You've already banished it from your revisionist history?

There were some high fees in 2017. There was no need for a block size increase as demonstrated by the failure of BCH.

If it was “necessary”, BCH would have won. 

Even when Bitcoin had high fee's nobody switched to shitcoins.

[Phil_S]

Lines have been crossed down under

Australia is awesome. Feral cats are killing native marsupials like koalas and wallabies, so locals eliminate the invasive species by eating them.

She makes further points which I don't get. Maybe humour?
Cats r good hunters

pls don't eat them

Is that's cats face Photoshopped? Looks a bit off.

Not just cat's face! The whole cat! And more!

[realr0ach]

I just saw the most ludicrous Volkswagen commercial.  It had a bimbo walk in to the apartment she lives in (which would probably be paid for by the dude in any real world scenario) and she saw him playing some sort of Occulus Rift video game and instantly leaves him.  LOL?  What type of message is this supposed to be?  That a guy is supposed to spend 24 hours a day being a woman's servant or you're a bad person?  I mean, that is exactly how women think in real life, but putting it in a commercial and pretending it's okay for them to think like that is just nauseating.

[HairyMaclairy]

Mo pixels....

Germany?

Its Vietnam, somewhere along the Mekong delta near Hcmc? Dude playing a bamboo flute in sandals for tips with the Vietnamese 'cam on' meaning thank you written on the case.

Damn you guys are good.  I knew you wouldn’t let me down.  Yes it’s Vietnam.  More pixels pending.

[HairyMaclairy]

[realr0ach]

K, next up on the HairyMclarry name that street contest:

[El duderino_]

Dammit you did one @my HODLsleep

Wouldn’t guess it right so no problem

[El duderino_]

Good morning WO’s let see where this week is gonna go @

[Paashaas]

https://www.thestar.com.my/business/business-news/2019/04/29/jaguar-land-rover-planning-to-allow-helpful-car-drivers-to-earn-cryptocurrency/

https://www.topgear.com/car-news/fancy-earning-cryptocurrency-while-driving-new-jag

Untill they figure out that IOTA is vaporware and ending with running their own LN node.

[DaRude]

there is no difference between natural and coded scarcity

Today in synagogue my rabbi explained it all to me after telling me how he butchered my circumcision. But then i sniffed some glue with my buddies and now my favorite food is i like yellow

C'mon you're not even trying anymore, is that all that nazi glue huffing? Shitcoins make BTC infinite just as much as iron, aluminium and all of other metals make gold infinite. Put down mein kampf and try to come up with coherent replies.

The reply is perfectly coherent.  If you accept ANY PM scarcity scam, you're putting forth support for all of them.  Silver, Gold, Platinum etc, they're all inflated shiny pretty things to wear around your neck to show off your wealth to others scams with no connection to their real world use prices.  All of those scams are in the exact same category whether you like it or not.  You're either pro-shiny pretty things scam with little correlation in price to their true value or pro-mathematically backed truly scares resources.

Why you keep on pulling sentences out of my quotes  

[realr0ach]

and ending with running their own LN node.

You don't seem to comprehend the only way LN is incentivized to function in the real world is you opening a channel to a bank through which all your transactions will be routed.  It is completely useless.  The base bitcoin network is bad enough in that it has built-in, rent seeking middlemen in every transaction and also requires 3 or more parties to proceed at all - unlike a real peer to peer transaction like physical metals that only requires 2 parties - but Lightning Network places an actual bank as the middleman in every transaction.  It's laughable.

[DaRude]

This is under the assumption that the block size wouldn't grow when needed, blocks aren't full without outside attacks so there's no evidence that when the time comes we won't increase the block size to a common sense size.

Well, other than the evidence that blocks were kept small the last time they became persistently full. Which, in itself, is pretty strong evidence.

Once the need resurfaces (and it most certainly will), how long do you think it will take to implement the necessary change?

If it was urgent it could probably be done in 48 hours.   But it won’t be urgent.  

It ain't just a river in Egypt.

I would mostly agree with the bear here.
The last full block crisis resulted in inaction, to force people onto segwit. I presume the next full block crisis will result in inaction, to force people onto lightning.

Dude wtf you weren't supposed to tell them!!

[El duderino_]

Think for a second about how crazy using a credit card is.

Every time you make a purchase online, you literally type in your private keys and pray someone doesn’t steal it.

At restaurants you hand your private keys to your waiter and they walk off.

This is why we Bitcoin.

https://twitter.com/_connerbrown_/status/1122215828189933568?s=21

[kurious]

Mo pixels....

Germany?

Its Vietnam, somewhere along the Mekong delta near Hcmc? Dude playing a bamboo flute in sandals for tips with the Vietnamese 'cam on' meaning thank you written on the case.

Damn you guys are good.  I knew you wouldn’t let me down.  Yes it’s Vietnam.  More pixels pending.

Ho Chi Minh centre - near Notre Dame or War Remnants Museum?

[fillippone]

K, next up on the HairyMclarry name that street contest:

Easy one: Chicago.
https://gawker.com/392059/google-maps-catches-chicago-kid-about-to-shoot-someone

2007 Version.

[Globb0]

Is that's cats face Photoshopped? Looks a bit off.

[cryptjh]

When we zoom a little out and look at the weekly bitcoin chart, it starting to look very bullish. The chart shows the last 3 months weekly BTC on trading view.
https://twitter.com/crypt_jh

[fillippone]

According to this graph made by PlanB, after the halving of 2024 his model is calling a BTC price of USD 400,000.

I dont like this graph. Because it have same factor for every halving but emission inflation keeps decreasing. So supply pressure from freshly mined coins is smaller and smaller.   
When first halving happened in 2012. 50% of all Bitcoin was mined and daily emission of 3600 BTC gave us 0.03425% daily emission inflation what is if we multiply with 365 days = 12.5% yearly emission inflation
When last halving happened in 2016. 75% of all Bitcoin was mined and daily emission of 1800 BTC gave us 0.01142% daily emission inflation what is if we multiply with 365 days = 4.17% yearly emission inflation
At next halving next year 87% of all bitcoins will be already mined and daily emission of 900 BTC will give us 0.00489% daily emission inflation what is if we multiply with 365 days = 1.78% yearly emission inflation


12.5/4.17 is more then 4.17/1.78. So impact of halving on price of Bitcoin is decreasing.



BTW Gold average yearly mining inflation is 1.6%

I am not really getting your point.
Firstly this Stock to flow is not a new concept. As far as I know it was proposed in the bitcoin environment in by Saifedean Ammous in his book The Bitcoin Standard: The Decentralized Alternative to Central Banking.
Second stock to flow is actually the inverse of inflation rate, so if you are countering this with inflation rate you are actually using the same argument for and against this graph.
Thirdly i get you didn't get the point when saying "halving" are less and less relevant: the opposite is actually true as Stock to Flow is increasing dramatically (and this is a choice made by Satoshi when defining the protocol).

[realr0ach]