Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 14533. (Read 26607473 times)

Since you bring up Andreas.  Here's a decent question answer video from him from today attempting to clarify some of the misconceptions about lightning network.

https://www.youtube.com/watch?v=c4TjfaLgzj4

No. HTTP is a higher layer (lower than HTML though). Bitcoin/Blockchain is more like TCP/IP (it's just an analogy).

Higher layers are the next step towards user ergonomy. We need more of those in which blockchain would be just an underlaying transparent lower level layer.... and "Bitcoin" will be *ALL* that.

Maybe even some additional layers in which BTC is converted to "stable" DIGITAL fiat via sidechain atomic swaps.

I thought that bitcoin is the HTTP.. and everything get's built upon bitcoin.. no?

Exactly. So many useful purposes, where thing can run so much more effeciently. For example here in NL, the city of Utrecht and the central government are experimenting with storing your identy on a blockchain, so you can easily prove who you are without sending a copy of your personal information (in NL it's a BSN, in the US that would be your social security number) or a copy of your ID. That would seriously reduce the risk of identity fraud. Another municipality is experimenting with transactions for people on wellfare using an app based on a blockchain. So much less administration and forms, people can just go to a store and get e.g. clothing for their children paying with an app.

Edit: again, a great story about crypto's place in history https://www.youtube.com/watch?v=QX3M8Ka9vUA

Yes. That is a very simple but extremely useful feature of Byteball.

I envision when we have a similar one over LN.

As Andreas Antonopoulos likes to say, bitcoin is the internet of money. Currency is just the first app on the bitcoin blockchain.

That's our killer app (for now). Lightning network will refine this and give us such innovations as "streaming money". So, perhaps an easy to use, LN based payments solution that changes the way we think about money will be our Netscape moment.

The Death of AOL will come when people realize bitcoin is more than just currency.  Just as people realized the internet was more than their AOL walled garden. For example, the BTC blockchain could replace 25% of our jobs within 5 years.  IRS/tax authority fuckers, accountants, many attorneys, the secretary of state/DMV, registers of deeds, bankers, accounts payable/receivable people - Bitcoin will replace them all and then some.

Bitcoin should copy Paypal like Byteball already did.

Here is your link to receive 2000,000 bytes (≈1.42 USD): https://byteball.org/openapp.html#textcoin?solve-market-economy-wheat-fee-alien-helmet-mistake-push-elite-dial-expose

I'm not wordy man, either (NOT)... yet I have to agree with the picnic bear on this not a bear market assessment.  

A less than 2 month price correction does not rise to the level of a bear market, but if we are still bouncing down to the $7k territory in 6 months, both the picnic bear and I may have to reconsider our assessment based on those new facts (that have not yet played out, as I type...    ) , and perhaps jbreher and I would conclude differently depending on what happens in these upcoming 6 months in the event that we are still bouncing down to $7k during that time.

On the other hand, if we bounce around in the range of $7k to $20k in the next 6 months, then that would not necessarily be bearish, but if we are having difficulties getting above $10k or maintaining prices above $10k in the next 6 months or so, and we still keep retesting the $7ks, then perhaps under those kinds of facts (that have not played out yet) we might be within the range of bear market considerations.

In other words, currently, our facts of BTC price performance between August 2017 and even just focusing on December 2017 until now seem quite far from a bear market definition based on a mere less than 2 months of this current correction and a seeming rebound from the bottom of that correction... We gotta look at the context, hello, and that context is broader than merely the past less than 2 months..

I don't see a singularity putting a stop to the snowball effect. It's "just" an event comparable to going from apes to humans, but there'll be new problems that will take decades and centuries to solve.

A singularity doesn't just imply an explosion of productivity and capacity, or I guess you could state it that way. But that would also entail the capacity to produce problems that are far beyond the reach of a society that is well into the singularity.

If we think of teleportation or FTL travel we can't even really begin to fathom how to construct a practical solution. And while those problems may or may not become trivial with a singularity event, there'd surely be problems of similar status for a post-singularity society.

jajaja
on windows 3.1

If I would guess, this. There is this accelerated curve(parabolic) of technology and innovation that has occured over the last 50 years. This snowball effect will continue until the Singularity.

I can remember clearly the first time I shilled the internet. It was at my friends printing shop..you know..the kind with a actual 3 color offset press...not a photocopier...anyway. I was helping him set up a basic db for hes revolving accounts on DOS 3.something and telling him the benefits he would receive if he would just upgrade from a 14.4k to a 28.8k modem.    

So, we need to get Bitcoin on a CD ROM to get this going

PM sent.

it is the series for a function I discovered that has some useful and interesting properties. PM me if you want to know any more.

So all we need now is a book store named after a river...

Edit:


LOL

At this point, I think Bitcoin's "internet" or "Netscape" moment won't have much to do with a bunch of tech advancements to either Bitcoin or 2nd layer solutions. Personally I think it's going to be Bitcoin ETFs that define the turning point.

When Wall Street and corporations start singing the praises of Bitcoin ETFs, hedge fund investors can begin to invest directly through those vehicles, and Mom and Pop suddenly find a Bitcoin ETF as part of their company's Mutual Fund 401k portfolio offerings... then look the fk out.

Money will come pouring in. And Average Joes on the street will suddenly start buying in as well.

And possibly something like Bitcoin being added as a payment option to EBay or Amazon. That would also be huge.

wow, such se reflechier, wisdom in the last pages, no shouting, no war , unreal
but a good read  

Globally, 1% of the population controls 80% of the wealth, in USA 0.1% of the population controls the same amount of wealth as the bottom 90%.

Bitcoin is money. Although money is used by the mainstream, bitcoin wealth is unlikely to be adopted by the mainstream, and does not need to be to compete in the market of existing currencies. Wealth inequality means if current wealth holders adopt bitcoin it has succeeded, it clearly does not need to "go mainstream' in the way that SV is thinking of previous adoptions of new technologies and networks.

I've been meaning to ask, but what is the product series in your avatar?

The only things that come to mind are sine and cosine, but those are sums and have 2pi in their summands. So I thought it could be something along the lines of a log of a negative exponential due to the -1 factor that doesn't appear in the standard expression for the exponential series and the product could've been a result of a logarithm.
But that wouldn't really make sense either, unless you were deliberately trying to create a series that looks complicated, makes some references, but ultimately is just a fancy way to write something like "1".

Don't really feel like refreshing my analysis to figure out the limit of the series, hence my question.

It's a common business practice to raise prices (fees in this case) when you can't service all the demand. So it is somewhat fair what they are doing, presumably until they scale enough to (adequately) attend a bigger user base. AOL was also more expensive than what earlier Internet users had (ie: free for one reasons or another).

So yes... maybe coinbase is our AOL. Let's just hope they do things right and other competitors also rise.