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

[realr0ach]

Another reason is to not induce accelerated development of the Lightning Network which actually is the Bitcoin killer app.

You have no idea whatsoever how Lightning Network works if you think that's the case.  It's 100% useless because the only manner in which it can function in the real world (when on-chain transactions are prohibitively expensive) is each user only having a single channel open to a well-connected bank who routes all their transactions.  You cannot afford to open a channel to every person in the world you *potentially* might need to send money to, nor can you fund each of those channels with proper liquidity because channel liquidity is not fungible with one another to make larger purchases.  

It will just be you connected to a bank in a permissioned ledger.  100% fucking useless:

[Cryptotourist]

Tell me r0ach, why are you constantly trying to scam us into PM's, whilst trying to scam us out of BTC?
Impressive. I mean your shill narrative - is scam you all the way. Biggest scammer I've seen anyways.

#

~
Another reason is to not induce accelerated development of the Lightning Network which actually is the Bitcoin killer app.

I'd love to hear why if you don't mind.

[VB1001]

Another thing, why do you think the network fees went nuts while the ATH was happening in 2017?

People were literally outbidding each other by paying more fees to send their coins faster to the exchanges so they could dump!

People were outbidding each other just to make ANY bitcoin transaction. The reason for high fees in 2017 were BCH crooks trying to clog bitcoin network and promote their point by sending hundreds of spam transactions to be included in every block. There are no spam transactions now because those same crooks need every bitcoin they mine now to support the price of Bitmain's corporate coin (aka Bcash).

I don't deny that but I can't really say it was %100 Bitmain/Vermin Co. Still can't be sure though. Maybe they were %100... but then... why don't they do it now? Or why they didn't do it before the ATH? Maybe they wanted to combine their spam with the real demand to increase the effects. I still believe there were some real hardcore demand in 2017 for the on-chain transactions.

I have already explained why.
Another reason is to not induce accelerated development of the Lightning Network which actually is the Bitcoin killer app.

Exact was a cumulative of circumstances that coincided with the fork BCH, SegWit, CME futures, FOMO

[mindrust]

Another thing, why do you think the network fees went nuts while the ATH was happening in 2017?

People were literally outbidding each other by paying more fees to send their coins faster to the exchanges so they could dump!

People were outbidding each other just to make ANY bitcoin transaction. The reason for high fees in 2017 were BCH crooks trying to clog bitcoin network and promote their point by sending hundreds of spam transactions to be included in every block. There are no spam transactions now because those same crooks need every bitcoin they mine now to support the price of Bitmain's corporate coin (aka Bcash).

I don't deny that but I can't really say it was %100 Bitmain/Vermin Co. Still can't be sure though. Maybe they were %100... but then... why don't they do it now? Or why they didn't do it before the ATH? Maybe they wanted to combine their spam with the real demand to increase the effects. I still believe there were some real hardcore demand in 2017 for the on-chain transactions.

I have already explained why.
Another reason is to not induce accelerated development of the Lightning Network which actually is the Bitcoin killer app.

Exact was a cumulative of circumstances that coincided with the fork BCH, SegWit, CME futures, FOMO

Exactly I kinda feel like becoin's view on this matter is very one-dimensional. It was a series of events all happening at once.

There wasn't any segwit adoption > high fees
No LN > high fees (we don't know how much LN helps right now though)
High demand > naturally high fees
Bad miners > high fees
No batching from the exchanges > yep you guessed right.

You can't explain it that simple by saying it was all Roger. Nope, it wasn't that simple.

[realr0ach]

trying to scam us into PM's, whilst trying to scam us out of BTC?

All man-made currencies are scams, while real world, physical commodities are not, as I've already explained:

All man-made monetary units (aka currencies) are artificial, Keynesian scams whose 'value' is brief and transitory.  The value of every currency that's ever existed starts at a value of zero and always returns there - every single one.  In other words, it's a game of hot potato or musical chairs where the act of using them at all can be considered nothing more than knowingly signing up to defraud other humans on purpose.

Why knowingly become a party to fraud by using currencies such as the US dollar, Bitcoin, or Chuck E Cheese tokens when you don't have to and can use actual physical commodity money instead like silver, gold, and copper that doesn't have this issue?  Currencies are valueless; always have been, always will be.  Their 'value' is not derived from usefulness, only how many people you can attempt to scam into taking it before it's value inevitably implodes like every other currency.  It's impossible not to be a party to fraud while using ANYTHING classified as a currency instead of physical commodity money.  

Promoting a world where everyone attempts to commit fraud by using currencies instead of money is the same thing as promoting a world where everyone should be able to freely kill one another.

[becoin]

Another reason is to not induce accelerated development of the Lightning Network which actually is the Bitcoin killer app.

You have no idea whatsoever how Lightning Network works if you think that's the case.  It's 100% useless because the only manner in which it can function in the real world (when on-chain transactions are prohibitively expensive) is each user only having a single channel open to a well-connected bank who routes all their transactions.  You cannot afford to open a channel to every person in the world you *potentially* might need to send money to, nor can you fund each of those channels with proper liquidity because channel liquidity is not fungible with one another to make larger purchases.  

It will just be you connected to a bank in a permissioned ledger.  100% fucking useless:

I know how LN works as I'm using it. You don't because you don't use it.

You don't have to open a channel to every person in the world you *potentially* might need! Most people would need 5-6 channels opened where they make payments on regular basis.

[Negotiation]

Baby boomers had property.
Gen X had stocks.
We, the millennials have #Bitcoin

The last 50yrs ridiculous credit expansion will now be sucked up by the hardest, scarcest most accessible asset in history.

What a time to be alive

Source: https://twitter.com/AleksSvetski/status/1172725681463148545

[realr0ach]

I know how LN works as I'm using it. You don't because you don't use it.

You don't have to open a channel to every person in the world you *potentially* might need! Most people would need 5-6 channels opened where they make payments on regular basis.

Jesus christ.  Do you even read your own posts?  You're NOT describing any type of monetary system.  All you're describing is a system designed to facilitate permanent vendor lock-in.  Okay, so instead of having only a single channel open to Bank of America, some people MIGHT also have a second channel open to Amazon.com LOL.  What happens if you want to buy your neighbors lawn mower? 

Oh, that's right.  Since it would be prohibitively expensive to open a channel with him, you're using a permissioned ledger where you need to ask permission to your Bank of America channel if a payment can be sent to him.  Oh, woops, Bank of America detected that you do not hold neo-Marxist views and refuses to route any of your payments so your permissioned ledger Bitcoin isn't even usable.  The endgame evolution of all digital shitcoins is nothing more than a Chinese social credict score system.  They're all completely fucking garbage.  Physical metals are money, not this trash.

[BitcoinGirl.Club]

Good morning WO!
Observing @ $10,310
No significant move yet.

Any swing traders around?

[El duderino_]

The HODL feeling..................

[fillippone]

Give it some time and you'll learn who's a cunt and who's not. Read your local board on bitcointalk, but don't trust them till you're sure.
Despite being Italian, fillippone is not a total cunt. Read his beginner's guide. No short cuts, read it all
these 3 are honest social media types
https://twitter.com/lopp
https://twitter.com/brian_trollz
https://twitter.com/MrHodl
they have enough knowledge and acumen to keep newbies going for a long time.

Thanks @Last of the V8s carefully read and follow everything all over help for learn.

Don’t forget my “not total cunt beginner thread”!
5 Resources to teach Average Joe about Bitcoin

[becoin]

Tell me r0ach, why are you constantly trying to scam us into PM's, whilst trying to scam us out of BTC?
Impressive. I mean your shill narrative - is scam you all the way. Biggest scammer I've seen anyways.

#

~
Another reason is to not induce accelerated development of the Lightning Network which actually is the Bitcoin killer app.

I'd love to hear why if you don't mind.

It gives elegant technical solution to economic challenge.

The economic challenge:
Why should your purchase of a coffee or beer be written on the bitcoin blockchain and remembered forever? Obviously, it is not so important for the rest of world's population! If it is so important for you, you can still write it on the blockchain paying the appropriate tx fees. If not, well, use LN!

[nutildah]

Tell me r0ach, why are you constantly trying to scam us into PM's, whilst trying to scam us out of BTC?
Impressive. I mean your shill narrative - is scam you all the way. Biggest scammer I've seen anyways.

You can support the type 1 flag against him here if you'd like. It was opened by V8s. Its already active but a little extra support never hurt anyone.

Feel free to drop your comments on the matter in the flag thread.

[realr0ach]

Baby boomers had property.
Gen X had stocks.
We, the millennials have #Bitcoin

https://i.imgur.com/WDtAtij.png
Source: https://twitter.com/AleksSvetski/status/1172725681463148545

It's just full-blown retard city here today.  Boomers overwhelmingly benefited from stocks far more than gen-X.  Boomers don't even know why they have stocks - they all just have them and don't even know where they came from. Usually the only gen-X that have them are active traders or people that somehow inherited one from a boomer.

[BitcoinGirl.Club]

The HODL feeling..................

Feels like already in the moon LOL

[becoin]

I know how LN works as I'm using it. You don't because you don't use it.

You don't have to open a channel to every person in the world you *potentially* might need! Most people would need 5-6 channels opened where they make payments on regular basis.

Jesus christ.  Do you even read your own posts?  

I do.
However, you seem to forget what you're arguing about?

What "channels" and how will you open them to pay to somebody on the other side of the globe with your physical gold or silver?
 

[realr0ach]

I know how LN works as I'm using it. You don't because you don't use it.

You don't have to open a channel to every person in the world you *potentially* might need! Most people would need 5-6 channels opened where they make payments on regular basis.

Jesus christ.  Do you even read your own posts?  You're NOT describing any type of monetary system.  All you're describing is a system designed to facilitate permanent vendor lock-in.  Okay, so instead of having only a single channel open to Bank of America, some people MIGHT also have a second channel open to Amazon.com LOL.  What happens if you want to buy your neighbors lawn mower?  

Oh, that's right.  Since it would be prohibitively expensive to open a channel with him, you're using a permissioned ledger where you need to ask permission to your Bank of America channel if a payment can be sent to him.  Oh, woops, Bank of America detected that you do not hold neo-Marxist views and refuses to route any of your payments so your permissioned ledger Bitcoin isn't even usable.  The endgame evolution of all digital shitcoins is nothing more than a Chinese social credict score system.  They're all completely fucking garbage.  Physical metals are money, not this trash.

I do.
However, you seem to forget what you're arguing about?

What "channels" and how will you open them to pay to somebody on the other side of the globe with your physical gold or silver?

Fuck off.  You edited my post to edit out all evidence clearly showing Lightning Network is a useless, permissioned ledger scam, so I added it back.  I've already explained why LN is garbage and none of it is lies or exaggeration.  You do not get to pretend that the real world functionality of LN is different from how I stated.  Good luck with your digital shitcoin scams.  The majority of the population refuses to use a cashless society slavery system that abolishes cash, so your pump and dump scam and Chinese social credit score system cause is pointless regardless.

[HairyMaclairy]

The HODL feeling..................

The big money is not made in the buying and selling... but in the waiting

- Charlie Munger

[becoin]

I know how LN works as I'm using it. You don't because you don't use it.

You don't have to open a channel to every person in the world you *potentially* might need! Most people would need 5-6 channels opened where they make payments on regular basis.

Jesus christ.  Do you even read your own posts?  You're NOT describing any type of monetary system.  All you're describing is a system designed to facilitate permanent vendor lock-in.  Okay, so instead of having only a single channel open to Bank of America, some people MIGHT also have a second channel open to Amazon.com LOL.  What happens if you want to buy your neighbors lawn mower?  

Oh, that's right.  Since it would be prohibitively expensive to open a channel with him, you're using a permissioned ledger where you need to ask permission to your Bank of America channel if a payment can be sent to him.  Oh, woops, Bank of America detected that you do not hold neo-Marxist views and refuses to route any of your payments so your permissioned ledger Bitcoin isn't even usable.  The endgame evolution of all digital shitcoins is nothing more than a Chinese social credict score system.  They're all completely fucking garbage.  Physical metals are money, not this trash.

I do.
However, you seem to forget what you're arguing about?

What "channels" and how will you open them to pay to somebody on the other side of the globe with your physical gold or silver?

Fuck off.  You edited my post to edit out all evidence clearly showing Lightning Network is a useless, permissioned ledger scam, so I added it back.  I've already explained why LN is garbage and none of it is lies or exaggeration.  You do not get to pretend that the real world functionality of LN is different from how I stated.  Good look with your digital shitcoin scams.  The majority of the population refuses to use a cashless society slavery system that abolishes cash, so your pump and dump scam and Chinese social credit score system cause is pointless regardless.

So, you're paid per number of words you're posting here!
How are you paid? In $$$, in bitcoins, or in physical gold and silver?

[Syke]

You don't have to open a channel to every person in the world you *potentially* might need! Most people would need 5-6 channels opened where they make payments on regular basis.

• Mortgage bank
• Utility companies
• Grocery store
• Drug dealer
• Escort service

That about covers the regular payments.