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. 
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 3678. (Read 26731203 times)
May 16, 2022, 10:21:53 AM
May 16, 2022, 10:21:24 AM
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
Midwit's will now ask me to zoom out the chart holy F
May 16, 2022, 10:18:17 AM
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.
May 16, 2022, 10:14:43 AM
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.
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.
May 16, 2022, 10:12:19 AM
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.
May 16, 2022, 10:10:45 AM
Mining will end someday
Yeah. At doomsday. 
May 16, 2022, 10:03:38 AM
May 16, 2022, 09:49:06 AM
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!
May 16, 2022, 09:17:59 AM
Lightning Network a thread to BTC.
Cleanup on Aisle 30756 please.
May 16, 2022, 09:03:33 AM
May 16, 2022, 08:52:06 AM
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.
May 16, 2022, 08:51:01 AM
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
May 16, 2022, 08:38:21 AM
The next 48 hours are critical....for the stonk market.
Watch the S&P 500, must stay above and bounce away from 3837 this week. If not and that level is breached, more DOWNity for stonks.
I don't think Bitcoin will be affected much tho. Don't see much more down for bitcoin. The scammers forced selling of tens of thousands of btc from weak hands to strong, and they don't have that much supply left below this price level.
Watch the S&P 500, must stay above and bounce away from 3837 this week. If not and that level is breached, more DOWNity for stonks.
I don't think Bitcoin will be affected much tho. Don't see much more down for bitcoin. The scammers forced selling of tens of thousands of btc from weak hands to strong, and they don't have that much supply left below this price level.
May 16, 2022, 08:04:59 AM
May 16, 2022, 07:53:23 AM
Ok, so now PlanB declared the bear market.
I wonder if he is wrong again. That would be funny
"Dec 2021 I was still hoping for a 2nd leg of the bull market. But in Q1 2022 it became clear that this bitcoin bull market was over. We entered a bear market since Apr 2021 peak (yes ATH was Nov 2021). Now we are creating a bottom. Then a new bull market will start. BTC cycles."
https://twitter.com/100trillionUSD/status/1526129846723698688?cxt=HHwWgICzsdDA860qAAAA
May 16, 2022, 07:40:22 AM
May 16, 2022, 07:20:04 AM
There seems to be a fuckload of 1.sat/byte transactions on the network. My tx from yesterday was stuck like 35mb from the top (crazy huh) increasing the fee to just 2.sat/byte propelled it to ~1mb from the top. What could be the reason for such congestion? 
We can thank Binance for that, although they could have chosen a better time for it - that crazy Korean started a shit show, and his Chinese friend just caused even more panic by adding so many transactions to mempool.
https://twitter.com/softsimon_/status/1524443439231864834
I did a few transactions over the weekend. I payed 3s/b for them all. I think they were all in the next block or 2 max.
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...
May 16, 2022, 07:10:14 AM
Ooops!
May 16, 2022, 07:01:32 AM
May 16, 2022, 06:38:39 AM
One reason I'm a fan of Elon regardless of his shilling for shitcoins, and shenanigans in general, is that his goal is to reach Mars.
Why tho? Dead planet. Nothing there but rock and more rock.
If we are in fact slowly circling the drain getting incrementally closer to the sun with each orbit, then Mars would be the next eligible rock within that sweet zone of close enough but not too close. So by the time we figure out how to get beyond that whole light years vs. limited fuel weight issue... it should be about right to support us and maintain an atmosphere.
Mars has no protective magnetic field like earth, the solar wind stripped away most of its atmosphere and continues to do so.
We got quite good living space here for another few billion years if we clean up and look after it.
Meanwhile Bitcoin putting up a solid performance during last weeks shit(coin) show.
$29k at midway between halvenings is not bad, not bad at all.
Yup! I think we're pretty much in agreement here!
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