Wall Observer

[spiderbrain]

This is pure MAGIC. Look at this beauty. The 6 month and 30 month flag perfectly aligning...

 

[adamstgbit]

@JayJuanGee please come to the point in your posts. Most of the time I see them, I feel like facing a wall of text. I'd like to read up on your opinion and value the time you put into those posts. However I also value my time and started to skip your posts. Just wanted to let you know.

he does have a tendency to be long winded. i think he's trying to be very percies and not leave any ambiguity in what he is saying. but i agree he should try to cut to the chase.

@JayJuanGee seriously try to delete and reword for brevity, avoid going into detail all the time. and or highlight some key points. please.

 

[adamstgbit]

It seems unrealistic to expect bitcoin to compete in any meaningful way with credit cards and other large scale millions of transactions a day systems within the next few years… even though there may be side systems such as lightning network that seem intended to accomplish such.

We use to be very competitive to CC in terms of fees and processing time. we are breaking away from cheap TX and for not a good reason if you ask me...
LN intends to solve this problem, but i have little faith in it... its only useful if you make 100's of small payments, who makes 100's of small payments??? LN will not allow poeple to sent a 25cent tip. poeple think it will help scaling bitcoin, and it will, but it'll be complex to use and also kinda expensive, to open & close a chancel you'll need to pay a larger than normal TX fee. Its not a substitute for bigger blocks.

Well, that goes to show that your earlier decision to short was not spontaneous… because you had an opportunity to decrease some of your short exposure without taking any loss, and you chose to stick with your earlier bet.

I took a very long time to make this bet, i needed time to look at Cores vision ( small blocks + LN ) and whether or not Classic scaling vision stood a chance. it seems clear to me we are going with Core until future notice, and that means bitcoin will not be suitable for average joe, we are dropping bitcoin use as a currency. I think its not a good move...

In my bitcoin investment portfolio, currently, I’m at about 96% bitcoin and 4 % fiat….

There's a damn good chance that price will rise as Segwit and LN are released, but dont be afraid to take some off the table when price move fast on these newes, everyone might get excited to hear that "LN now allows bitcoin to perform 25,000TX pre second" you'll know its a huge exaggeration of the truth...

I think, for example, if I had been more trading experientially prepared for the move from $250 to $502, I would have been more comfortable to dump more of my BTC, even up to 20% or even 30%... but instead, I recall that I dumped only a couple of percentage extra… I just wasn’t prepared because previously I had not been in the practice of selling any of my coins…

Selling, when everyone else is buying, and the future looks bright, and you think it could go to 3200$ in less than 2 years, IS NUTS! it takes balls of steal and a solid understanding of the market to be able to do this seemingly insane thing (selling when everyone thinks SKY'S THE LIMIT! )

NOW, if we can a realistically comparable sort of move… possibly from $420 to mid $600s, I have a better plan in place… that I will hopefully be able to pull the trigger when the time comes, this time (but I still don’t plan on selling more than 10% of my coins, if such a sudden price rise were to occur in the near future, and some people would suggest that is dumb)……

its kinda nuts to sell somthing you believe will double or triple in value in a few years time. its good you only plan to sell 10% MAX... I'm more liberal with the % i'll go short with because i really dont mind if i dont get to buy back lower, i can use the fiat....

I have no way of pretending to know what we would need in order to achieve $3,200, but my investment in bitcoin never really depended on expectation of a get rich quick type scenario. I don’t invest in bitcoin with such expectation, but I would consider such an occurrence to be a sort of icing on the cake.

>3200$ in < 2 years. it'll take Segwit + BIP after BIP + LN and then DING DING DING 3200$ and SKY's THE LIMIT!!

I really believe that it is not in the best interest of bitcoin to build to increase the block limit (like proposed in XT and classic).. that seems to be unnecessary and really asking for trouble.. especially if there are additional attempts at changing governance, too.

i just dont care about things that dont matter, like the kids in africa not being able to mine bitcoin..... as long as they can use it i'm happy.

 

[ChartBuddy]

 

[JayJuanGee]

he does have a tendency to be long winded. i think he's trying to be very percies and not leave any ambiguity in what he is saying. but i agree he should try to cut to the chase.

@JayJuanGee seriously try to delete and reword for brevity, avoid going into detail all the time. and or highlight some key points. please.

Pretty much I already addressed this subject in my earlier response... which was pretty much saying that it is my discretion to decide how much to post, and your (the reader's) discretion whether to read or how much to read.

I could give a ratt's ass if various people are suggesting that I should use some other kind prose style or discretion in order to choose what to write or how much to write in order to make my point(s), if any.

 

[adamstgbit]

@JayJuanGee
you could have said:
"i dont give a rat's ass if my style produces walls of text, dont read them if you dont want to."

But NO you had to point out that you've already addressed this, summarize that previous response, and then tell us again that you dont care what we think.

I wonder what's more annoying my typos or your walls of text. Lol!
[doublepost=1460424963][/doublepost]@JayJuanGee

keep writing walls of text... thats fine, but maybe you could highlight the key points when you write something >500 words, bold the meat. maybe you dont have to use bold, perhaps underline will work too.

 

[JayJuanGee]

@JayJuanGee
you could have said:
"i dont give a rat's ass if my style produces walls of text, dont read them if you dont want to."

But NO you had to point out that you've already addressed this, summarize that previous response, and then tell us again that you dont care what we think.

I wonder what's more annoying my typos or your walls of text. Lol!
[doublepost=1460424963][/doublepost]@JayJuanGee

keep writing walls of text... thats fine, but maybe you could highlight the key points when you write something >500 words, bold the meat. maybe you dont have to use bold, perhaps underline will work too.

Hahahahahaha... I'll consider... what to do, if not to do... blah blah blah.. I made the last, and most important part bigger, just for you.

 

[adamstgbit]

LOL!

you're doing it wrong....

 

[JayJuanGee]

We use to be very competitive to CC in terms of fees and processing time. we are breaking away from cheap TX and for not a good reason if you ask me...

.

That sounds more like wishful thinking, rather than any reflection of actual reality.


Bitcoin used to be.. blah blah blah.. . Doesn’t make sense.


Bitcoin is pretty much a budding architecture, and it never really was on any kind of mass marketing system that is prepared and ready for real and/or meaningful commercial application.


So what, we used to be able to send transactions for free, and it was quick. It’s bigger now, with bigger players.. and also likely bigger attempts to undermine it.


I stay with my point that bitcoin needs to move slowly with any kind of adoption, especially anything that attempts to make it easier to make changes easily (because if changes can be made easily, bitcoin will be made into something that it is not .. and that is a real and meaningful challenge to the status quo banking)… but to me it seems that it is going to take considerable time to continue to build on such a system and not to become centralized in any way.. and in that regard, there are going to continue to be whiners.. .regarding, why decentralization remains so inefficient..

LN intends to solve this problem, but i have little faith in it... its only useful if you make 100's of small payments, who makes 100's of small payments??? LN will not allow poeple to sent a 25cent tip. poeple think it will help scaling bitcoin, and it will, but it'll be complex to use and also kinda expensive, to open & close a chancel you'll need to pay a larger than normal TX fee. Its not a substitute for bigger blocks.

I had read some articles suggesting that some variation of LN will be able to go active much sooner than we originally considered, like by July or August….


To me, it still seems a bit premature to attempt to describe all of the things that LN is and is not.. what LN will be and will not be… I think we gotta take one step at a time regarding what is and what is not LN and what bitcoin becomes by multiple and various upcoming and ongoing developments.

I took a very long time to make this bet, i needed time to look at Cores vision ( small blocks + LN ) and whether or not Classic scaling vision stood a chance. it seems clear to me we are going with Core until future notice, and that means bitcoin will not be suitable for average joe, we are dropping bitcoin use as a currency. I think its not a good move...

.

Yeah, there have all kinds of bitcoin naysayers attempting to prematurely describe bitcoin as a currency.. and many of us should realize that it’s got a long way to go before it would become a “currency” – even under the best case scenarios.


On the other hand, if bitcoin remains stable in the coming years, and if its storage of value remains stable and even increasing in value, the currency aspect will come. There is no fucking way that bitcoin is going to become a currency without a large amount of mass support and a hell-of-a lot higher market cap that cannot be manipulated so easily. IN other words, currency is a very far in the future target.. that may or may not occur in the next 50 years.

There's a damn good chance that price will rise as Segwit and LN are released, but dont be afraid to take some off the table when price move fast on these newes, everyone might get excited to hear that "LN now allows bitcoin to perform 25,000TX pre second" you'll know its a huge exaggeration of the truth...

.

I think that I have been becoming less and less afraid to take some of my BTC investment off of the table… at least on a conceptual level….


Yet, as you may well realize conceptual and practice can be a couple of different things, and we are going to have to see how a lot of this plays out… surely very large and quick rises are going to justify taking some profits.. and maybe some of those profits would be diversified.. into some asset that is currently unknown…

Selling, when everyone else is buying, and the future looks bright, and you think it could go to 3200$ in less than 2 years, IS NUTS! it takes balls of steal and a solid understanding of the market to be able to do this seemingly insane thing (selling when everyone thinks SKY'S THE LIMIT! )

.

You already know this…. So do what you think is best for you under the circumstances – and not merely because it show courage…


Further I do understand that some people want to use these various bitcoin forums to attempt to persuade others to do what they are doing (after they have already done it), and even though I find that practice to be a bit disingenuous, I understand that dynamic to motivate some posts.

its kinda nuts to sell somthing you believe will double or triple in value in a few years time. its good you only plan to sell 10% MAX... I'm more liberal with the % i'll go short with because i really dont mind if i dont get to buy back lower, i can use the fiat....

.

Yes, each of us are going to decide based on our own circumstances, which I have listed a number of times including: our risk tolerance, our view of the future of bitcoin, our level of diversification in other assets (and our asset holdings), our income stream and our timeline.

>3200$ in < 2 years. it'll take Segwit + BIP after BIP + LN and then DING DING DING 3200$ and SKY's THE LIMIT!!

.

Yes this is all icing on the cake, as far as I’m concerned. Bitcoin could linger in the below $1000 territory for a considerable amount of time, and my investment would be safe (im not counting on more than that). However, many of us who have studied bitcoin and have been watching it realize that it has a very considerable upside potential, and $3k to $5k is just the beginning of such potential…



Nonetheless, I believe that we are proned to make ourselves crazy if we rely on such an outcome to occur or if we attempt to engage in conduct to rush such outcome by attempting to affect the behaviors of others.

i just dont care about things that dont matter, like the kids in africa not being able to mine bitcoin..... as long as they can use it i'm happy.

Yeah, but you should know better. The hesitancy towards change (including adopting XT or classic) were because those were not merely technical issues, and really there are people like you, who I am coming to believe know a lot better about this issue than you are letting on… it is not merely about poor people not being able to mine bitcoin..


I don’t exactly know what it is about; however, it seems fairly relevant that making a hard increase in the limit is not necessary, it is overly hyped, and probably it is really unwarranted in terms of addressing any kind of issue whether that be mass adoption or speed of transaction or fees for transactions.

 

[adamstgbit]

Fing gf wants to blow me all the Fing time... see you in the morning.

 

[ChartBuddy]

 

[ChartBuddy]

 

[ChartBuddy]

 

[8up]

Today we entered historic territory...

TOP 10 (lowest volatility days in Bitcoin history):
2013-01-07 0.79%
2013-01-06 0.80%
2013-01-08 0.81%
2013-01-10 0.82%
2013-01-03 0.82%
2013-01-09 0.83%
2013-01-04 0.84%
2013-01-05 0.84%
2016-04-11 0.86%
2013-01-16 0.90%

 

[adamstgbit]

good morning bitcoin land
i see that once again i sold when i shoulda Hodl,
I'm starting to regret it....

 

[ChartBuddy]

 

[adamstgbit]

Yeah, but you should know better. The hesitancy towards change (including adopting XT or classic) were because those were not merely technical issues, and really there are people like you, who I am coming to believe know a lot better about this issue than you are letting on… it is not merely about poor people not being able to mine bitcoin..

I don’t exactly know what it is about; however, it seems fairly relevant that making a hard increase in the limit is not necessary, it is overly hyped, and probably it is really unwarranted in terms of addressing any kind of issue whether that be mass adoption or speed of transaction or fees for transactions.

its even sillier than that.
because of pools these poor people will always be able to mine...
the idea of mega mining pools controlling bitcoin TX flow is just a paranoid delusion the small blockers have, its a lie they made up, much like the big blockers saying that the mem pool will grow and grow until bitcoin blows up.

tell me you wouldn't love to live in a world where node operators are people like US, China, ebay, Canada, McDonalds, UK, etc.. they are all made to participate in nakamoto consensus.

IMO, this is the classical scaling vision, doing anything differently is a hostile takeover of the project.

Core's idea is senseless! its fucking retarded, they expect nodes to be run by everyone while TX on the blockchain will be cost prohibitive to most poeple. like wtf!

there silly principles will prevent them from competing against the kid in his basement dev.ing a new altcoin.

 

[freetrader]

good morning bitcoin land

I thought you were @JimboToronto there for a second

 

[adamstgbit]

 

[Bagatell]

@adamstgbit You bought back in?