Seems like some normal weather is coming in from England.
Around 17:00 there will be a sharp drop in temperature from 29 to 21 and some rain. I'm soo looking forward to be able to sleep normally again. Laying flat in the bed with a fan blowing somewhat less hot air over your hurting body is not very sleep inducing.
If anyone wants to know the weather where I live, it's whatever the English had yesterday.
one of our Indian fellows (JSRAW I think it was), is in England right now I noticed a couple of pages back, but he didn't like the weather, probably used to that unbearable heat from his tropical jungles back home.
But I'm ranting, back to bed it is.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 5296. (Read 26710278 times)
June 20, 2021, 11:58:29 PM
June 20, 2021, 11:46:39 PM
Hey Arrie, how are prickly Pete and the twins doing this morning?
#nohomo
#nohomo
Hello Homer
Just fine, thanks for asking.
June 20, 2021, 11:46:31 PM
Something to note down...
- Bitcoin is a cryptocurrency
- Nodes based on the CPU Power
June 20, 2021, 11:37:26 PM
June 20, 2021, 11:09:01 PM
Would someone give btc a couple viagras, damn thing just can't stay up.
June 20, 2021, 11:01:25 PM
June 20, 2021, 10:19:37 PM
Hey Arrie, how are prickly Pete and the twins doing this morning?
#nohomo
#nohomo
June 20, 2021, 10:01:36 PM
June 20, 2021, 09:48:59 PM
How many confirmations are needed to send yourself 1mm sats on the LN?
None, the channel exist already. When the LN channel is opened sometime before sending there will be Bitcoin on-chain confirmations for the multisig addresses created which later when closed will be a net total of all LN transactions within. The way I understood it now, after reading some more, segwit is only used when a legacy wallet is involved, with bech32 (multisig) wallet it is not needed, but could be wrong, still learning.
This is the beauty. From the beginning we have heard how it would be impossible for the people of earth to effectively open channels since they take not one but two transactions (eventually), and I believe we are going to find ways to do it. I think Strike is ahead of the game a little. Frankly enough that we don't really get it. And another complaint is the aspect of custodial-ness and kyc/aml. I believe those hurdles will also be cleared by tech being used in interesting ways.
I just hope it's up to the flood that I think is coming. Using things like WoS are going to spread like wildfire in Central and South America. And I think many African countries are right behind.
Centralized services like WoS have some advantages because they can be managed by pros, while they have the obvious (and some less so) disadvantages as single points of failure, for example.
What I think is not yet commonly known is a silly little app like WoS is positioning themselves to be the foundation of a multi-billion dollar (and then more) virtual bank.
Visa needs to be very, very, very scared. And they may end up trying to push legislation that will harm the growth of this, and yet... there is nothing they can do to stop it.
June 20, 2021, 09:42:44 PM
Probably posted already but a nice read up of why Bitcoin is important: https://bitcoinmagazine.com/.amp/culture/bitcoin-illusion-of-reality
Nice Blog worth reading. Bitcoin matters because it has profound impacts on our understanding of how the economy works and at the same time the technology behind Bitcoin is an incredible achievement in the field of distributed systems.
https://www.bing.com/search?q=why+bitcoin+is+important&form=ANNTH1&refig=209011e29c2e4d09984b1adaf2d408a0
https://www.youtube.com/watch?v=Ai5z2T4WhWg
June 20, 2021, 09:01:26 PM
June 20, 2021, 08:06:11 PM
Look at difficulty dropping.
this is the opposite of what happened from Jan 2018 to Sept 2018.
the difficulty was up at the end of every month as price was dropping.
This time the difficulty is dropping as price is dropping.
Yeah we could say it is the lack of chips so no new gear.
But this is a new pattern.
Which could mean a new price pattern will evolve in the next two- three months.
How has sha256 alt marketshare changed? If sha256 alts are doing stupid gains, it could be miners want to have some of that for themselves while BTC's price is wandering around in the wilderness.
no basically all the coins have dropped.
btc
btc alts
all other shit coins.
this is not what happened in the 2018 price drop.
most coins rose in difficulty while prices dropped most of 2018.
June 20, 2021, 08:01:26 PM
June 20, 2021, 07:52:04 PM
How many confirmations are needed to send yourself 1mm sats on the LN?
None, the channel exist already. When the LN channel is opened sometime before sending there will be Bitcoin on-chain confirmations for the multisig addresses created which later when closed will be a net total of all LN transactions within. The way I understood it now, after reading some more, segwit is only used when a legacy wallet is involved, with bech32 (multisig) wallet it is not needed, but could be wrong, still learning.
June 20, 2021, 07:12:51 PM
My btc projection number is higher than Wekkel's-I don't expect us to go lower than 19-20K (they might try to push it below prior ATH for giggles).
I smell a nocoiner that sold his bitcoins at 19k.
He's not a nocoiner for what I know... he's just a bit... weird... perhaps desperately trying to DCA some extra sats...
Myself or Wekkel? ..and how would you know anything? This is just laughable, man.
Somehow, you confuse the discussion of price with price prediction OR with where I would like it to go.
I would like it to go to 100K tomorrow and stay there OR I would like it to increase 1% a day, every day for the next, say, 5 years.
It does not depend on my opinion and i am not trying to scare anybody to sell for me to buy. I can buy anytime and I do.
Somehow, around here only rah-rah messages are cogitated, it is becoming like a 'scared children' lounge.
Remember @jjg taking issue with myself saying that it is "stalled" with misplaced pontifications of his/hers.
It not only stalled, but declined a good 40% since then. It's too bad I did not sell almost any at 50-55.
June 20, 2021, 07:01:34 PM
June 20, 2021, 06:59:14 PM
Agreed, but more like Lightning is tied into the chain, not completely "off chain". (Loosely I view it a bit like an on-chain Bitcoin transaction with one confirmation security wise.)
Lightning is bullish as hell in my opinion, transactions at the speed of internet, channels locked into the Bitcoin blockchain via segwit, with taproot on the horizon increasing privacy and more (DLCs etc).
From my limited testing so far Lightning is definitely how I envisioned Bitcoin as a currency used by merchants and services. I think classic on-chain Bitcoin wallets will continue to be used as it is today, eg. savings/investment and unregulated "bank wire transfer" done right. I'm happy about the future for Bitcoin, but also think the whole world will benefit, finally we can move towards one planet and one human race instead of silly countries with all the bullshit limitations and friction that imposes. The future starts with a real common currency, go Bitcoin!
PS: While writing this post BTC/USD rate went up through the view of the browser tab (on the way to punch a hole through the top corner of my monitor), so perhaps a bit overly positive, and again, maybe not.
I think the biggest hurdle is UX, but I think lot's of the wallets are starting to handle that. Strike is a good example in that is give users a LOT of ways to transfer value but staying denominated in Fiat, which for now is going to stay important.
But using Strike to transfer money as well as even to buy bitcoin is underrated as to how it will work in the world.
How many confirmations are needed to send yourself 1mm sats on the LN?
June 20, 2021, 06:18:34 PM
Look at difficulty dropping.
this is the opposite of what happened from Jan 2018 to Sept 2018.
the difficulty was up at the end of every month as price was dropping.
This time the difficulty is dropping as price is dropping.
Yeah we could say it is the lack of chips so no new gear.
But this is a new pattern.
Which could mean a new price pattern will evolve in the next two- three months.
How has sha256 alt marketshare changed? If sha256 alts are doing stupid gains, it could be miners want to have some of that for themselves while BTC's price is wandering around in the wilderness.
June 20, 2021, 06:01:26 PM
June 20, 2021, 05:54:26 PM
My btc projection number is higher than Wekkel's-I don't expect us to go lower than 19-20K (they might try to push it below prior ATH for giggles).
I smell a nocoiner that sold his bitcoins at 19k.
Why does anyone belief its gonna drop just because we are lower and consolidating ... ? Few weeks back same people where aiming for 70-80-90-100K short-middle term, just normal market behavior imo.
Going lower is always a part of the story but why does everyone suddenly think when we have 50% drop that another 50% is gonna happen?
I see hard coiners disappoint me from time to time and probably a lot of people are getting emotionally while they think they don't etc...
At the end of the story, we are all just humans, tough I expect the highest level of HODL-DIAMOND hands from people with my activity and more....
Btw I also do hope for moon every sec, but I do ride the waves when they are here...
Look at difficulty dropping.
this is the opposite of what happened from Jan 2018 to Sept 2018.
the difficulty was up at the end of every month as price was dropping.
This time the difficulty is dropping as price is dropping.
Yeah we could say it is the lack of chips so no new gear.
But this is a new pattern.
Which could mean a new price pattern will evolve in the next two- three months.
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