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21261  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 04, 2017, 11:43:34 AM
I'm not excited yet. Seen this before.

Friday pumpy, weekend dumpy.

But of course I'm still bullish!


Edit. To be honest we need to go up a lot more before I class this as a pump. % terms this is nothing

Look at you.....  Shocked Shocked Shocked


Grumpy.

This price movement is bullish as fuck.

I was hoping that we would not get to ATH until the end of the month, but looks like within the next 12 hours, perhaps?

And, pump does not necessarily mean a dump, and even if there is a dump, we still be good. 

I had been kind of thinking a correction to $2400 or so would be reasonable, but we barely reached $2600s, and then back up again... My gosh.. the honey badger doesn't wanna take a bit of a breather..   Huh    Cry   

21262  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 04, 2017, 11:13:10 AM
Bcash cost of production (difficulty) is now being slashed by 20% per block for the next 6 blocks. Expect miners to follow cost of production slavishly. Forking guys have no idea what they have unleashed ... it will become apparent soon now.

Yes, the existence BCC will destabilize BCT mining.  

Everyone knows that at equilibrium, if BCC has 1/10th the value of BTC, that the hash power mining BCC will be 1/10th that mining BTC.  

What is less obvious what happens when the system is not in equilibrium. Imagine that the market reprices BCC 100% higher and BTC 10% lower.  What is the expected distribution of hash power now assuming short-term profit-maximizing miners?  

The answer is "most of it will be mining BCC." Because the difficulty adjusts only very slowly (every 2016 blocks) BCC becomes twice as profitable to mine as BTC.  Hash-per-hash miners would earn double by mining BCC.  This continues until the difficulty reset comes when BCC would go "limit up" (4X), when most miners would leave BCC back for BTC.  BCC's difficulty would slowly ratchet back down due to its fast difficulty adjustment and the process would later repeat.  

What this suggest is that at times when BCC is more profitable to mine and the hash rate migrates to BCC, the average block time for BTC will increase significantly and BTC's already slow and expensive transactions will become much more so.  

Well. Fuck.

We really should just have raised the block size and been done with it.

Who is "we?"

You mean "we"should just give in to terrorists?   

something does not seem right about that proposition.
21263  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 04, 2017, 10:56:26 AM
What should I do with my 2K sats of BCH on Bitfinex? I haven't bothered confirming, but that is not enough to meet the order minimum, correct? I guess that I'll have to keep them. So I am now an official BCH HODLer who will get left holding the bag. Grin

(I also have 500 BCH sats on Hashnest too, left over from my dump. Guess I'm a HODL no matter what.)

Whenever I have dust like that, you can buy more on a dip, or add to that, and then sell on a 1% increase.. something like that, then you get rid of ever single thingie-ma-jiggie.
21264  Bitcoin / Bitcoin Discussion / Re: Aug 1 summary on: August 04, 2017, 08:41:11 AM
Can so point me pls where in this summary is resumed the sourcing reason for this this entire mess?

Something: Who was in the driver seat and what did those drives do to ensure the absolutely needed consensus?

And what actions needs to be enabled to get around a next potential mess?

You are way off topic, as seems to be your MO..   Tongue
21265  Bitcoin / Bitcoin Discussion / Re: Aug 1 summary on: August 03, 2017, 11:04:40 AM
Label me as NUTs, or a friken skeptic; but for some reason I find none of those Bcash wallets as quasi-trustworthy, except for Trezor and Ledger.    Yet Trezor proclaims that they have been compromised by some bad  actor, possibly, and no longer providing the Bcash wallets - until some future undetermined date, and Ledger hardware does not seem to be shipping until September 4  - or after that date (a long time in bitcoin landia)
No. Your stance is completely healthy and justified. All of their wallets are largely untested, which is one of the reasons for which I haven't even attempted to move BCH.


That is why I said that I though that the ledger and the trezor were perhaps good, but the trezor method had proven to be compromised - leaving only the ledger.

 I had initially ordered a ledger but back ordered until September 4.  I then found another place that I could get the ledger by next week, so I ordered another one, and I should have if by early next week, hopefully.

Maybe there will be some other solutions that are established before next week.  It would be a good business for an exchange to offer such a service, and maybe charge a small coin splitting fee?  They probably would increase their customers
21266  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 10:56:08 AM
so anyone out there think that we'll have to wait until November for ATH conditional on the 2x block size going ahead?


I think that 2x is both unnecessary and unable to reach consensus, but it seems that there is going to be another attempt at a hardfork with supposedly only 80% .. but not sufficient to lock in, so another rogue fork, perhaps.
21267  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 10:53:31 AM
Pfrtlpfmpf does not have anywhere near 80BTC on Poloniex that he was lending at 5%, because it is very likely that he was lending more than 1 day to earn 4BTC.

Possibility acknowledged. I may have misunderstood pfrtlpfmpf's statement.


YEP!!!!!

Exactamente!!!!

By the way the interest rates have dropped like a stone, and no one seems to want to borrow BTC anymore.   Cry Cry

Every time, you say "pfrtlpfmpf", i lay down and piss myself, i bet you have bitten your tongue by now Smiley



Why?
21268  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 10:45:33 AM


Almost like rewinding history under another fork?

Kind of but not quite.

History rhymes but does not repeat.

We cannot go back, exactly.   Cry

Even though we are supposed to talk about bitcoin here, BCH seems a fair topic, too... and also bitcoin seems to be the future... and hopefully BCH ends up being a flash in the pan.. and a lesson of what not to do.. but I know that BCH is probably not going away and probably not even going below .05BTC... we gonna have to live in the world of the coinsplit.
21269  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 10:24:53 AM
Oh no... my free money

Hmmm, I wasn't quick enough either. I'll sell next pump.

I thought that your BCH was in a paper wallet? 

How you get BCH so quickly, and how you get BCH in a location in which you can sell them?  What's your secret?
21270  Bitcoin / Bitcoin Discussion / Re: Aug 1 summary on: August 03, 2017, 06:15:41 AM
Label me as NUTs, or a friken skeptic; but for some reason I find none of those Bcash wallets as quasi-trustworthy, except for Trezor and Ledger.    Yet Trezor proclaims that they have been compromised by some bad  actor, possibly, and no longer providing the Bcash wallets - until some future undetermined date, and Ledger hardware does not seem to be shipping until September 4  - or after that date (a long time in bitcoin landia)

https://www.bitcoincash.org/

I suppose that part of the reason that OP described ways (that I still find confusing) to keep private keys that are used from bitcoin separate from private keys used for the purpose of claiming Bcash.  So it seems like the essence is that even though we transfer merged  coins from an old (legacy) wallet to a newly created wallet, we are only using the private keys of the old wallet to claim the BCash and if some evil player wanted to go back to get our real bitcoin using the old private keys, they would find that wallet empty and our split bitcoin are thereafter residing in a newly created wallet with newly created private keys that have not been exposed to any of the Bcash wallet providers that allowed us to claim our Bcash - - maybe at the same time, we then need to move the Bcash again after claiming them?

I'm going through the scenarios, and I have not split my blockchain.info coins yet and I have thought that I could wait for the ledger nano s to ship - even though it might be too late by then.. I mean Bcash may then be worth a fraction of its current price - sub .05BTC I suspect.
21271  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 04:56:37 AM
Can we get a new poll for the thread?  Cheesy

What kind of poll do you want?
I'm tempted to make a poll regarding BCC price, but this isn't supposed to be an altcoin thread.

I agree, all that is interesting about BCC is what it means for the price of BTC.

If you do want to make a poll related to BCC, maybe you could ask something pertaining to that, so e.g. whether people think this fork will a) show that the governance model of BTC is working as it should or b) shows the inherent weakness of the governance model of BTC etc. Just thinking out loud here.

Thanks again infofront for maintaining this thread, it's running very well! We can discuss developments that both in the short term and the long term influence the market value of BTC. Walls may not be the most important things in that respect anymore.

Well surely August 1 has passed, so that poll is outdated.

Dates coming up are August 8-10 locking in of segwit, and then two weeks later activation of segwit, so are either of those two events going to affect price, or is the BCH mess or the Altcoin mess going to affect BTC prices? 

I think that there is some questions regarding whether BCH is going to get dumped upon - which would likely be more bullish for bitcoin, as compared to if BCH is successful, which would be a bit more bearish for bitcoin.

I think that the activation of segwit is important and it does coincide with the difficulty adjustment for BCH and whether BTC will pump by then or whether BCH would be dead by then..

Approximately August 22/23 is critical?
21272  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 04:49:17 AM
As for actual value,  there is no other value other than somebody willing to buy them from you, and this is true for both BTC and BCH.

There is big difference! Everybody is willing to buy BTC. Only Ver and Wu are willing to buy BCH. Hope that clears your confusion.



That's not correct!


Ver and Wu are not really willing to buy BCH. Only the nutjob peeps on r/btc they convinced of the death of BTC are willing to buy BCH
21273  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 04:37:41 AM
Large blocks = Gold
Segregated Witness = Fiat

Asia wants gold.
USA wants to print money.
changing bitcoins block size via politicalbattle destroys its gold like property.

So you're admitting segwit destroys bitcoins gold-like properties.

When 100% of hashpower and most actors and participants have agreed that Bitcoin have to have Segwit, then that's Bitcoin and if it doesn't have Segwit, it isn't Bitcoin. If, tomorrow, almost everybody agrees to have bigger blocks, then that will be Bitcoin and smaller blocks won't.

How is that so hard to understand?

That's a good explanation. But what happens if 51% of hashpower want bigger blocks but Core Developers refuse?
Then they are obviously not very core to the whole bitcoin ecosystem.

Are you retarded Ibian?  You think that merely because 51% of mining power supports something then bitcoin should just change because of that?  Maybe you should think about how unstable such a rule would cause bitcoin to become?
21274  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 04:03:19 AM
Good morning after, Bitcoinland.

I see we're still going sideways... currently $2725USD (Bitcoinaverage). Not bad, considering the fact that we all just got gifted an equal number of altcoin (BCH) tokens.

While some people may have felt secure in exposing their private keys/seeds to the internet to sell their BCash in the original rush, I'm happy to keep both my bitcoins and BCH tokens safe in my cold wallets, for now.

I don't think the drama is done quite yet. Let's at least wait until segwit is fully activated.

I have bitcoin in paper wallets, if I want to set up new paper wallets is there a better way to move them than...

Paper wallet-----blockchain.info----paper wallet

Trezor or other hardware wallet?
_______

I also agree we need a new poll.

Exactly what I'm doing.

It looks like I'm not going to win the ATH priza today annoyingly, on the plus side though, BCH has made me a hell of a lot better off.  Grin


Waiting too long can cause a considerable lessening of the BCH value, no? 

Currently we are able to get between .12 and .25 BTC for these, but I think that their longer term value is likely to float below .05BTC? 

But, maybe we will have some surprises and pumps that last a few months, rather than BCH dying on the branch?
21275  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 03:36:04 AM
Pfrtlpfmpf does not have anywhere near 80BTC on Poloniex that he was lending at 5%, because it is very likely that he was lending more than 1 day to earn 4BTC.

Possibility acknowledged. I may have misunderstood pfrtlpfmpf's statement.


YEP!!!!!

Exactamente!!!!

By the way the interest rates have dropped like a stone, and no one seems to want to borrow BTC anymore.   Cry Cry
21276  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 03, 2017, 03:18:29 AM
I'm waiting for this thread to return to some real discussion about BitcoinTM, not some shitcoin clone wannabe that no one here cares about.

I'm also waiting for all the troll day traders with like a few hundred dollars in bitcoin max, running around like chickens trying to figure out how to make an extra 25% by trading their free shitcoin on some shady exchange, to leave this thread for good.

I've got enough BCH that I could single-handedly dump that shitty market all the way down to $1. Don't tempt me.

(and I'm sure that I'm not alone)


BillieJoeAllen, is that you?

Hahahahahaha Torque.

Your two bitcoin is only worth 2BCH, so it is not going to cause as BIG of a splash as you are making it out to be.
21277  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 02, 2017, 08:41:37 AM

Guys, i made 4 bitcoin, just by lending the hell out of it, at 5 percent. And i have no idea what bcc, bch is.
Could i have done better ? I mean, it´s still 2700. 4 multiplied by 2700. I´m off, wanking.

Well, let's see...

4BTC is 5% of 80BTC.
You would have received 80 BCH.

I agree with your math, except your starting premise.

Pfrtlpfmpf does not have anywhere near 80BTC on Poloniex that he was lending at 5%, because it is very likely that he was lending more than 1 day to earn 4BTC.

He actually did not specify the period of time that he was loaning out those BTC, but the 5% was only for a few days - nonetheless, he was asserting to receive 5% per day, which is close to the max, and maybe he is exaggerating a bit.. but anyhow very likely more than 1 day of loaning to earn the supposed 4 BTC.

Maybe he has 40BTC at most on Poloniex that he was working with his loans, but probably less than 30BTC would be a more realistic estimate over a week or so?
21278  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 02, 2017, 08:10:56 AM
Crack Cash pump incoming, gathering 'cheap' coins on panic selling. Wont last though, sell the pump !

Trace Mayer publicly stated tht he was waiting for the order book to fill up before dumping big on it

These guys are not thinking strategically.

It may take years from now, but I will wait until the pumpers have control of 95% of the BCH and an ultra thin market float, and they decide to pump BCH to the absolute moon. I'll wait until it has peaked to new lofty heights, when there's talk that BCH is going to overtake BTC, and all that other coordinated FUD they will be spewing at that time.  

Then I will dump all.  Grin

Yeah.. dump your total all 2 BCH and fuck them all with your BIG load.    Cheesy Cheesy Cheesy
21279  Bitcoin / Bitcoin Discussion / Re: Aug 1 summary on: August 02, 2017, 06:23:50 AM
"then your BCH is likely (but not guaranteed) to remain associated with the current private keys due to BCH's pseudo-replay-protection;"

can you elaborate on this....under what conditions could your BCH not be still associated?

Surely that would send the value to near zero....?

same question ..

i am not interested to claim BCH at the moment because i don't wish to take risks for claiming pennies.

pennies? if you have 100 btc, you can claim 100 bcc which are 16 btc for free at the moment, not really peanuts...

How you going to do it?  Sounds pretty speculative to me, if there is not really any practical and realistic ability to accomplish such supposed 16% return.  So in that sense, 16% doesn't count as 16% if there is only a 1% chance of being able to carry it out.
21280  Bitcoin / Bitcoin Discussion / Re: Aug 1 summary on: August 02, 2017, 04:56:07 AM
bitfinex also credited BCH

But question is still same when the trading pair BCH/USD or BCH/BTC is going to come on bitfinex

In the most recent announcement from Bitfinex, they are saying that they are "monitoring the fork" and they may create trading pairs SOON-ish tm  maybe 24 hours or more....

They also took a 15% haircut from folks.  I only got 85% of my equivalent BCH.. more socializing.. those fucks!!!!

same here go 85% of btc
The 15% "haircut" is to account for the fact that traders had net short BTC positions across their platform, and did not force shorts to repay BCH, and give longs BCH (which was likely guided by the fact that they did not want to commit to listing BCH for trading). This policy was announced days in advance, which allowed customers to withdraw BTC from the platform if desired. The situation also created opportunity for BTC holders to lend out BTC at ridiculously high interest rates.


Perhaps, I opened up this deviation from the thread topic to highlight the disparity of getting 100% versus 85% when someone else holds the keys. 

Also, perhaps, I misunderstood that I personally was going to be affected by the distribution coefficient that they applied or that it would be so much.  I might understand a few percent, but 15% in one fell swoop, oooftah!!!

Actually, mentioning loans, I did attempt to put a considerable amount of my Bitfinex BTC to work while I had put it on that exchange, and I earned about .7% over the past couple of weeks.. hahahaha.. that is a really good return for the amount that I had on the exchange, yet almost nothing compared with the 15% haircut.  The loan rates are very transitory, and I had some loans that were out for .035% per day, and others reached as high as .9% per day.   So the loan rates went up nearly 30x in the past couple of weeks, and they are now coming back down to their more regular rates. Poloniex had much higher loan rates, but they seemed to have distributed their BCH differently, too (the borrower received the BCH rather than the lender... something like that). 
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