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

[Hamza2424]

Lightning Network a thread to BTC.

Well Lightning network aims to cheap and faster transactions on the BTC blockchain... This is a big thread.

As BTC is a store of value for that BTC is more than Gold and if you consider it as a medium of exchange that will be a disaster.

Learn how it works BTC is POW Chain Minners Mine blocks and approve transactions nd get rewarded in two ways 1st is Mining Block rewards BTC which reduces after a specific time period and then 2nd is Transaction fee reward.

Mining will end someday and then Minners left over a single way to earn transaction cost if we want BTC as a medium of exchange then we need low transactions and low transactions mean Minners will refuse to support the network and Chain collapse. If

The massive adoption of the lightning networks as El Selva will cost the massive destruction in the market, a side chains are good way of exchange but remember BTC is the only store of value other then that will directly affect the system.

DYOR  its my personal thinking after anlysising the facts through recources

BTC is a Store of Value not a Medium of exchange

[Lucius]

If there is a a strategic reason for Binance to do this other than the just consolidate utxos then it is to make it difficult for unsavvy users to move bitcoin during a price panic.  But I am not sure what good that would do either...

The news says that Binance announced that they would work on consolidation before the scandal with Korean shitcoins, so all speculations about the possible connection between the two events would be just a conspiracy theory. How much the mempool blockade really affected the impossibility of quick transactions from non-custody wallets to CEXs and prevented even bigger sell-offs remains an unanswered question.

[ChartBuddy]

Explanation

[BobLawblaw]

Lightning Network a thread to BTC.

Cleanup on Aisle 30756 please.

[BitcoinBunny]

Lightning Network a thread to BTC.

Well Lightning network aims to cheap and faster transactions on the BTC blockchain... This is a big thread.

As BTC is a store of value for that BTC is more than Gold and if you consider it as a medium of exchange that will be a disaster.

Learn how it works BTC is POW Chain Minners Mine blocks and approve transactions nd get rewarded in two ways 1st is Mining Block rewards BTC which reduces after a specific time period and then 2nd is Transaction fee reward.

Mining will end someday and then Minners left over a single way to earn transaction cost if we want BTC as a medium of exchange then we need low transactions and low transactions mean Minners will refuse to support the network and Chain collapse. If

The massive adoption of the lightning networks as El Selva will cost the massive destruction in the market, a side chains are good way of exchange but remember BTC is the only store of value other then that will directly affect the system.

DYOR  its my personal thinking after anlysising the facts through recources

BTC is a Store of Value not a Medium of exchange

Porn Stars eat pizza Sundays if tired.

It my personal belief porn star when tired the pizza eat when eat then calorie consume and back to work and ready for the good ramming beginning of week.

If getting a good ramming when videotape made it distribute online and many man happy some women also too it guaranteed to put smile on face.

When porn star first got on scene not much thought made but now many people watch the star online even for 1st time it can be revelation!

There are numerous places online where many porn star can be found please find the resources available.

Porn Star is not marriage material but entertainer!

[ChartBuddy]

Explanation

[BlackHatCoiner]

Mining will end someday

Yeah. At doomsday.

[cAPSLOCK]

Lightning Network a thread to BTC.

I do not know why I am compelled to do this, but this particular FUD is so annoying.  I just want to point out why it is wrong.

Once the block subsidy is very low, or over, then fees will be what pay miners.  If we continue on with blocks the size they are fees will go up quite a bit.  This will not matter because it will be being used as the settlement layer.  Transactions will be batched by LSPs, and other people willing to pay high fees to enshrine transactions in the immutable layer.  It is conceivable that transaction fees could end up in the thousands of dollars (by today's failing standard).

The circular nonsense people believe about this is annoying.  You can;t have both.  If lightning and other 2nd layers are a success then there will ALWAYS be transactions in line to get on the base layer.

Now I am sure someone MIGHT be able make a good argument why fees will not ever be enough to support the miners.  But so far I have never heard it, and THAT is certainly not it.

[BitcoinBunny]

Oh, he meant threaT. Ahhh...

 

And no, I don't expect people to write perfect English here, BUT, every single person I've ever met who didn't have English as their first language (and that would be dozens) wouldn't write English that poorly! Hence my mocking.

[cAPSLOCK]

If there is a a strategic reason for Binance to do this other than the just consolidate utxos then it is to make it difficult for unsavvy users to move bitcoin during a price panic.  But I am not sure what good that would do either...

The news says that Binance announced that they would work on consolidation before the scandal with Korean shitcoins, so all speculations about the possible connection between the two events would be just a conspiracy theory. How much the mempool blockade really affected the impossibility of quick transactions from non-custody wallets to CEXs and prevented even bigger sell-offs remains an unanswered question.

Yeah... it does not make much sense.  If you want a <5s/b tx right now you will need to wait several hours.  If you need the tx to confirm immediately then it's gonna be ~20s/b.  If you are sending BTC to a CEX to sell into this bear, and are using a client that does not auto-calculate fees, or you purposely choose a 1 sat per bytle fee?  Well....  I would not say anyone TRICKED you, lol.

[ImThour]

7 Red Weekly Candles for the first time in the history of Bitcoin and you still call it Bull run? my arse.
Midwit's will now ask me to zoom out the chart holy F 

[BlackHatCoiner]

It is conceivable that transaction fees could end up in the thousands of dollars (by today's failing standard).

Median fees? There's no realistic scenario wherein people pay, regularly, thousands of dollars worth of BTC in fees. Even with Binance charging 200+ sats/byte.

[philipma1957]

Lightning Network a thread to BTC.

I do not know why I am compelled to do this, but this particular FUD is so annoying.  I just want to point out why it is wrong.

Once the block subsidy is very low, or over, then fees will be what pay miners.  If we continue on with blocks the size they are fees will go up quite a bit.  This will not matter because it will be being used as the settlement layer.  Transactions will be batched by LSPs, and other people willing to pay high fees to enshrine transactions in the immutable layer.  It is conceivable that transaction fees could end up in the thousands of dollars (by today's failing standard).

The circular nonsense people believe about this is annoying.  You can;t have both.  If lightning and other 2nd layers are a success then there will ALWAYS be transactions in line to get on the base layer.

Now I am sure someone MIGHT be able make a good argument why fees will not ever be enough to support the miners.  But so far I have never heard it, and THAT is certainly not it.

The reality is it may be bad for btc and mining.

The reality we were whaling back in spring of 2021 over 68k big fees in block and miners were counting their soon to be riches.

The reality is LN got actived  more completely in spring of 2021 we have not had 1 btc fee blocks since that happened and BTC has pretty much crashed to a 30k level.

But that is short term let us wait and see if btc comes back.

If it does not than LN will have done a lot of harm to BTC

Most people do not understand what LN will do for or against miners since the time period of wide enacting is only about 1 year.

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world. I will wait and see if 1 btc fee blocks ever come back like they used to do.

[shahzadafzal]

7 Red Weekly Candles for the first time in the history of Bitcoin and you still call it Bull run? my arse.

Edit:
Hahaha you edited your post before I could say that. But focus on the last last point now

[BlackHatCoiner]

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world.

Lightning works like staking, but there are two important differences:

• No coin generation.
• Actual usefulness. (Routing TX)

[vapourminer]

It is conceivable that transaction fees could end up in the thousands of dollars (by today's failing standard).

Median fees? There's no realistic scenario wherein people pay, regularly, thousands of dollars worth of BTC in fees. Even with Binance charging 200+ sats/byte.

when (if) btc is $500k+  usd and only nation states and huge multinational corporations can afford to get in on the base btc blockchain (because space) $10k fees could become common. after all fees are just the cost of doing business to corporations and governments. the cost is passed on the The Little People

us little peeps, who are just one of the great unwashed masses, will have to pay through the nose to get our paltry 100k usd txs on the chain.

[Hamza2424]

Mining will end someday

Yeah. At doomsday.

2140 AD ...

⚠️ Calculate at own risk hope so it won't be difficult.

[Torque]

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world.

Lightning works like staking, but there are two important differences:

• No coin generation.
• Actual usefulness. (Routing TX)

You forgot
3. LN node operators don't really make any money, they are doing it for fun.


Also, why do folks continue to ignore the Core Devs? Like they're never going to touch the code ever again over the next 100 years to make adjustments?

[ChartBuddy]

Explanation

[goldkingcoiner]

My gut is it is a terrible idea since that second layer (LN) is very much like staking but I simply do not know much about the world.

Lightning works like staking, but there are two important differences:

• No coin generation.
• Actual usefulness. (Routing TX)

If you count the transaction fee delta as a generation of value rather than simply saving on fee costs, then it is in a way, coin generation. So very much like staking. Except better staking, as you get your coins at the time of transaction.