Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 11096. (Read 26730412 times)

Settled? You mean become actualized on the Bitcoin chain?


That's what used to be said about block size.

They will probably just reuse LN channels and just settle them regularly. With enough transactions, maybe they would be settling those channels hourly... after processing thousands of individual transactions in that time over each channel. Current LN channel capacity limit is just a temporary safety measure... It will get raised as needed.

Yes i can see it happening that way, but what i meant was from a technical point of view how they will achieve this.. so it is trustless and open.

Let's just babble about L1 as the only solution....

Any idea around how big should the blocksize be to support all VISA/Credit card tx's? How much would its blockchain grow for each year?

Now... Should crypto REALLY succeed (also) as a peer to peer cash system... How big should it be to even support 10% of current *CASH* payments/transactions worldwide?

...

There's no way crypto can *scale* MASSIVELY just on L1 alone.


P.S.: I do also advocate for "larger" blocks.... just not as large as you do. Just enough to support higher layers efficiently and maybe with some spare... and that whatever is implemented, it would be done with CONSENSUS to not harm the store of value proposition as a side effect.

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?

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.


There will always be those who with to run a full node, if only for the ability to trustlessly process incoming payments.


The miners don't need your centrally-planned price controls.

+1 WOsMerit

now that you mention it...where indeed?


but Coinbase is sucking pretty hard these days, their new fee structure is eating 40% of my ladder profits and I still hate the "pro" UI

moving my activities to Bittrex a little bit at a time

^ I can tell you how L3 would work. (custodial L1/L2 wallets) Global payment processors with deals between them.... except they will probably be using L2/L1 to settle between them regularly (ie: hourly?)

IF Bitcoin some day gets massively adopted, that's how it will be done. You can quote me for posterity.

If you break his points down and really analysis them, you will realise just how weak they really are.

Big Blocks is the solution! What a load of horse shit!

"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. 1MB/8MB Same thing! Need a better solution. 1 Lane Highway/10 Lane highway, eventually you will get to the same issues at hand!

He say Layer 2 is a non solution, again, such ignorance to the fact you he uses layer 2 every day.

And his response to, "what happens when your 8MB block is not enough?", that's fine we will just keep raising the block size!

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.

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! We need the miners to do what they do, we need to reward them. The block rewards will be negligible in 3 - 4 halving times, we need fees to be as high as possible, if that means only using onchain to settle large value transaction.

There could be a layer 3, but on top LN (layer2), that could open and close channels without the need to write onchain, utilize existing onchain open channels. How do we that, i do not know, i am not smart enough and neither is jbreher.... but the difference is, i can see the possibilities and the potential..

Torques' view is aging well it seems.  Where is that dude?  

You should also buy some Bitcoin. Just saying... It's your call.... But don't come here whining later.

Saturday report

Apparently we have numerous boating enthusiasts amongst the faithful serving at the Wall.

In appreciation of the hard efforts and loyalty demonstrated on a daily basis by these tireless volunteers we are having a naval exhibition in your honor. If everyone is present you can board the small launch you see there in front of you. Yes, that one right there. As you can see..there is a safety locker right there..a very sturdy lead lined safety locker I might add. Yep..thats the one..right on the very rear edge of this small pleasure craft. Please feel free to place all valuable items inside the locker such as you might have with you...paper wallets, trezors, usb sticks and any private seeds...really anything you think necessary. We will begin this journey with a small jaunt across the water to rendezvous with the mother ship.
1h



oh look!  squirrel...coming along for the ride.
4h


Now that we have arrived at our destination ladies and gentlemen my I please direct you attention to the gantry to the right. Yep..thats the one..please make your way aboard where crew will direct you to quarters.

...I hate to even mention it..really..but for the record you see...ehem. Apparently there was a small incident crossing the bay..I sure it was nothing really..please pay no attention to me..enjoy your stay aboard.
D

#stronghands'19

Yes, if you buy the theory about possible litecoin pumpening  being somehow a significant enough indicator regarding bitcoin's future price performance..... whatever... you are right.. members are going to place different values regarding what is important to talk about or focus on and/or whether they believe it is sufficiently enough related to this thread in order to NOT become annoying when there are other threads out there about the litecoin talking points.. so I personally question why to waste such time here.. but you seem to be more receptive along with other guys and perhaps gal.

I have Dash, Zcash, Monero, Adex, Komod and SNT.
Make An important WO Announcement: increase your BTC stash when it's time.
I am not good on TA.

meh. I'm thinking more on the order of Cirrus or Epic.

Good, please tell it to me, because I don't really get what my own point was. I was just being funny. Or trying to. Whatever comes first. YMMV.

Now that I really think about it... I could have a point... Litecoin halving is coming in a few months and no matter if you do or don't have any significant amount of LTC.... It will be an interesting event to watch and try to extrapolate to next Bitcoin halving.

Get used to it... not yet, not now, but it will come soon.

In my humble bumble opinion, there are too many guys here in this thread pumping that bullshit crapola and taking that off-topic irrelevance too seriously to be playing around with it... even though I do sufficiently get your point.


It's called having fun and just letting the ideas fall where they will (aka slinging words).... ... while I am sure that you still got my points, even if they may have been ambiguously presented.

^ Sarcasm? So you are denying that Litecoin doesn't have faster blocks? Are you?

Get the fuck out of here with your seemingly core crippled bullshit!


P.S.: I am amazed by my magistral usage of (seemingly) confusing double negation above.

Yep we seem to have a bit of an infiltration of peeps who are LTC distracted... a contagion is aloof.

Focus boys.  Focus ur selfies!!!!

Exhibit A:   - or would this be sarcasm, counter Exhibit NOT A?    I'm confused...