Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 1422. (Read 26720873 times)

Ha. Nice to see a green wall, for a change!

Explanation
Chartbuddy thanks talkimg.com

Another vote for Green, I see. Good to know. Will keep an eye on it re. LN integration.

Yes, the on-chain fee size is becoming an issue for small payments. But then again, buying coffee on-chain is like using a chainsaw to cut butter. So yeah, 2nd-layer BTC networks are important, and will be more so in the future. I know (have been reading here and there, and also in WO) that LN has its problems, but I hope they get ironed out and we end up with a robust 2nd-layer network, with the uptime and reliability of on-chain transactions, that's going to be standardized and adopted worldwide as a payment method. Michael Saylor is actively promoting this IIRC, as is Jack Dorsey and other big players out there. And no, LTC won't cut it, as it is just a matter of time (i.e., network load) before it clogs up too. The solution must be by design, not by low utilization.

Mempool slightly better but still not great. 150 sat/byte could very well be the new normal.

i could see 48K before 31, but i still see 31 in the cards  


and if the ETF is not approve (which i think there is a 10-15% chance of that) that would be hell bearish i'd move my target down to 20K

Thanks for the info, will look into the wallets you're suggesting. I know Electrum is extremely popular, but, surprising as it sounds, I never had to use it.

Obviously, I prefer a non-custodial wallet, but I could accept a custodial one, as long as the ease of use and overall user experience justifies it. After all, LN is meant for small payments, so the risk is not so big.

I'm not in a hurry, so Green may be a good choice. Will wait.

The main thing I look for is a well-designed, easy, friendly UI, reliability, and, ideally, non-custodial. I intend to use it for petty cash transactions (under $1000).

it is far more likely to go to 48k by jan 1 then your number of 31k


but if all etf action is not allowed til june or july we will drop in Jan.

as for short term price action i suspect a pretty deep correction, looking for ~31K. at the very least a very choppy sideway action for a while. can the price HODL at this local top for 3 weeks untill the ETF aproval? Maybe. but in any case i'm thinking correction (sooner or later) then grinding back.

but maybe i'm just Dreaming looking for a good entery price for what is sure to be an epic year!

some where out there, there is a big blocker still hodling on to the dream.  

necessity is the mother of invention, knowing that i suspect lighting network will see alot of inovation coming soon. I'm also looking to learn to use it, nodoubt if these fees keep up, others will too.

Explanation
Chartbuddy thanks talkimg.com

Well today I did a send from Nicehash wallet via LN sent around 0.0015 fee was 0.00000014

I then used kraken to send  0.0015 to nicehash via LN fee was 0.00000014


So far testing show nicehash can send and receive via LN up to 1.5 ltc


I am well aware funds on nicehash are not in my custody

Also for that matter my kraken fees are at risk.

these accounts never hold a lot of value and I now have two different ways to do LN sends or receives.


if I want to shift to coinbase they do not do LN yet.

maybe next year all these are KYC accounts.

I am doing a show and tell thread on using LN but not on self custody LN

https://bitcointalksearch.org/topic/m.63346745


when using Nicehash or kraken which I used so far.

you dont have the keys so the coins can be taken away via hack or freeze.

I like the Green Wallet, and thanks for letting us know they are working on Lightning.  Green allows RBF and Coin Control.

With the extremely high fees, the time is coming when I need to learn how to use Lightning.

Explanation
Chartbuddy thanks talkimg.com

Really hard to say... if we are going to be able to make $48k + by the end of the year.  Surely it is far from impossible, and sometimes BIG fireworks do end up happening around this time of the year.. even though the direction of such fireworks (if you know what I mean?) is not always clearly in one direction versus another.  There are ONLY two weeks left in the year (or do we say, a wee bit less than two weeks?)...


That's one of the tricky things about dee corns because just around half a day ago, it was looking as if the odds for sub $40k were getting quite high.. at least higher than 50/50.. and yet, did not end ujp happening in that particular run.. so who is going to say. .was that just a fake out and we are resuming UP, or is our current UP a fake out and we are returning DOWN?  I am not going to say, and I even hardly give too many shits since we still seem to be in the midst of a currently pretty large don't wake me up zone, if anyone had not realized it to be something in the ballpark of $35k to $55k... snooze, snooze, snooze.. if you know what I am trying to say?

Explanation
Chartbuddy thanks talkimg.com

Ugh.  Electrum CAN do lightning.  But do not start there.  It's complicated and kludgey (Still such a great on chain wallet).

Non Custodial: Breez
Custodial: Wallet of Satoshi
Coming soon: Green

I mention WoS just because it is the drop dead easiest, best working wallet available.  But custodial wallets run an ever increasing risk of getting frozen by regulators.

I feel like Breez works the best for the non-custodial wallets, but it requires a little patience up front.

Green should get interesting as they are a very easy to use wallet and are JUST rolling out lightning.

Go Buddy Go!

Explanation
Chartbuddy thanks talkimg.com

A consolidation at this point would be nice.  Going sideways until ETF announcement would show a strong support at this price range. ETF approval mid January followed by halving in April should set us up nicely for a strong bull run.

Awesome..
1. Looking at the graph it seems that it shows somewhat strange numbers. For example, a pool with a theoretical 15% hash rate produces "only" about 9% of the blocks.
Maybe this explains why block production was always lagging in more minor pools that I favored, probably erroneously (but it never was less than 90-91% of "theoretical"). I guess large pools gobbled the "extra".

2. The graph "starts" at 50 light seconds (by eyeballing the graph). I assume that anything less that this would not affect the effective hash rates, so, multiplying this by the speed of light, it gives us a "sphere" with the radius of 50sX299792.458km/s=14989622.9km or 9334119.85 miles, with the sphere's volume of 1.41X10^22 km³. The volume of earth is 1.086X10^12 km³, which, if my rough calculations are correct, bitcoin mining could be done in a volume of space around Earth that exceeds Earth's volume by a factor of ~12.9 billion (X12900000000), which roughly corresponds to the distance of up to x39 the distance between the Earth and the Moon. In other words: plenty of space to put O'Neill structures there that would still be able to hash the common bitcoin chain (Mars is out of luck, though..too far).

Even if numbers presented here prove to be a rough estimate, in my mind I already "see" it (O'Neill[space cylinders with gravity on the surface due to rotation] colonies in space hashing bitcoin for trading, etc): the "Nakomoto sphere".