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

[cAPSLOCK]

I've never understood how Raoul Pal could be such a fan of altcoins.

Raoul Pal is absolutely NGMI. Dude's portfolio is something like 5% BTC, 70% ETH, and 25% other, IIRC.

The frustrating and sad part is he might still be right about ETH in the short term.

[boumalo]

From 42K to 48K or from 42K to 30K ?

[ChartBuddy]

Explanation

[philipma1957]

From 42K to 48K or from 42K to 30K ?

70k by Jan 1

[HI-TEC99]

The Dude back out of forced sleep…. First thing, check the WO

Or almost first thing, maybe after 2,3 calls and a good meal, sober 16hours I think

Was hungry AF

What happened to you?

https://www.hartstichting.nl/hart-en-vaatziekten/behandelingen/ablatie

kind of this thing

healthy lifestyle advice

healthy lifestyle stuff

healthy lifestyle advice

Guys, guys, you all mean well and all but he is a grown man, he can take care  of himself, and he
will get all the necessary advice on how to taket care of himself from the doctors.
 

He'll be fine now he's quit his McDonald's job. It might have been the staff canteen food that caused the problem.

[Biodom]

From 42K to 48K or from 42K to 30K ?

70k by Jan 1

On the way down from $140-160K?  

[Copetech]

From 42K to 48K or from 42K to 30K ?

70k by Jan 1

OUCH! Never suspected you would be so Bearish!!!

[Torque]

So what ever happened to that asshole Jihan Wu? Haven't heard anything of him since the whole BCash launch debacle.

"Fuck your mother if you want fuck."  

[Copetech]

From 42K to 48K or from 42K to 30K ?

70k by Jan 1

On the way down from $140-160K?  

That's more like it! Slowly reaching a bottom around $47-$50k where it will drift for a couple years before starting it's big climb towards 750k-1M. (This is my financial plan for leaving my sexy young wife in good standing after all my poor life choices recognize my genetic predisposition to death)

[Hueristic]

He'll be fine now he's quit his McDonald's job. It might have been the staff canteen food that caused the problem.

Now that's what I call child abuse.

Literally turns my stomach.

[ChartBuddy]

Explanation

[jcojci]

Explanation

Another correction again? 

[strawbs]

The Dude back out of forced sleep…. First thing, check the WO

Or almost first thing, maybe after 2,3 calls and a good meal, sober 16hours I think

Was hungry AF

Only just saw your post, VERY busy as always, can barely keep up with WO...

My best wishes man. Hope everything is fine and you're out of the hospital and into RL very soon.

Only just saw this too (been away far from home) - get well soon dude.

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[Richy_T]

I believe the VERY FIRST response on the punks mailing list to Satoshi's announcement was "It does not scale".  And theat person was effing smart.  Because they could see far enough down the road to realize that the architecture of bitcoin was flawed if it was to keep all of it's important attributes.  I have assumed that person was someone familiar with networks.  And saw that bitcoin was a "broadcast network".  I am not math nerd.  But I get why continuing as a broadcast network is not really possible without centralization.

Imagine if cell phones worked this way.  When you were talking:  Every cell tower on the entire network would be transmitting your conversation.  As well as every other conversation.  This cannot work.  Not yet.  Possibly not ever.

The issue is not can hard drive get big enough to store the blockchain, but can the network itself sustain the amount of traffic produced when every person on the planet is using it.

That guy back in 2009 was right.  It does not scale.  Not that way.

So how will it?

I believe we are seeing the answer to that question being decided in real time in the arena of production software.  It really is quite exciting, isn't it?

I think you're conflating a couple of issues here. Unfortunately, the Bitcoin Core that Satoshi put forth was very monolithic and would have benefited greatly from a more modular design. The wallet, for example, should have been a separate module. Likewise, though less obviously so, the networking should have been separated. While the gossip network is not a bad way to implement the networking for Bitcoin in a decentralized manner, it is by no means the only way that a node could receive transactions and blocks and many other more efficient and context specific schemes could be implemented. Exhibit 1, Blue Matt's Fibre relay network which allows miners to ensure they receive blocks in the timeliest manner and Exhibit 2, the --connect option on the core software which ensures that a node receives its data from another specific node rather than the gossip network. Additionally, it could be imagined that nodes might run in a similar way to the gnutella network with ultrapeers and leaf nodes. There are also reasons why your phone call analogy is not such a good one either. Nodes aren't shouting at each other all the time but check if transactions have already been received. There are also some schemes to cut the amount of block data that needs to be transmitted (since most nodes should already have most transactions in a block in their mempool already). I'm not sure if Core is working on that but BU has something working.

So the scaling really isn't about the networking and, correct, it isn't really about the blockchain size since disk space is cheap and there is pruning and other schemes that could ameliorate that issue for most users. It more becomes about the UTXO set. Though the urgency of that as an issue could be a matter of discussion.

[Richy_T]

Wow. More users than any bank in El Salvador? That sounds insane and if it's true and all users are legit, it's big news! Are they really that unbanked or is Bitcoin just gaining so much attention over there?!

Hate to be a glass-half-full but how many of those are people outside El Salvador downloading the app to have a look?

[aysg76]

China surprised why FUD didn't hit hard this time as price barrier are still strong at $42k.

This 678599....^th time ban is not going to be a good price manipulation strategy anymore.

Hold strong

[ChartBuddy]

Explanation

[Richy_T]

1.  Make new software.
2.  Discover limitations and mistakes in the code or archetecture.
3.  Succumb to the temptation to tear it all up and start over.

Hearn was hardly arguing to tear it all up and start all over, merely to increase an arbitrarily decided limit. Regardless of whether you think that is a good idea or not, it would not be a huge change and if anything qualifies as that, it's LN which is trying to take on the heavy lifting of a decentralized payment network. The irony, of course, is that if it is successful, it will need the changes that Hearn was advocating for anyway.