Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[bitcoinsrus]

Is the ghash directly from people using cex. Those fees are crazy.

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[ft73]

pretty irresponsible to allow that to happen -_-

+1. I would be so simple for GHash.IO owners not to allow it. Welcome to centralized bitcoin .

It's about 45% now.

[StarenseN]

I traded full-time for years and I suspect the buy and hold crowd will outperform 70-90% of those attempting to trade BTC.  Yes, some will do well and out trade the trends, but BTC is so news driven it's hard to get cute with a trade.  Yes, technicals work, but look at Nov/Dec and how incredibly over bought BTC became. I would have sold WAY early if I followed the technicals during that period.  Just sayin......

No. I think you don't have the good technical analysis then...



Just saying...

[Richy_T]

The limited buyer group tends to insure that auctions go below market.
Unless these coins are more valuable than others.
The bigger the buying audience, the better the auction pricing and closer to market.

The sheer price also reduces the market. 3000 at current prices is $1.8 million. And there's more than one package too so supply is fairly high. Some will likely go for not too far below market value but I expect a few to go for 40% or more discount. Though I wouldn't be shocked to see the whole lot go for really cheap.

[ChartBuddy]

Explanation

[stckpkr7000]

No way they will sell at a 40% discount.  That's an incredibly idiotic thing to say.  No offense, but give me a freakin break.........

[Feri22]

So where is the 51% attack?

[MICRO]

Now Bitcoin isn't trustless anymore. That's unfortunate.

Yeah true, so much true now sodl and gtfo, go play with wow gold.

You are agressive, your life must sucks, I am sorry for you, I hope you will do better in the future.

Oh I'm sorry did I scared you, I'm sorry I didn't mean to scare you, I'm not aggressive in nature, sorry again. So this is your 1st 51% incident is that true?

That's not because it's not the first time that it's not very serious. Peter Todd is worry too: http://www.reddit.com/r/Bitcoin/comments/281ftd/why_i_just_sold_50_of_my_bitcoins_ghashio/

Bitcoin cannot grow worldwide if its faith depend on the hypothetical good behavior of some human beings, the stakes are too high to afford to trust somebody.

So as I understand it from what you write the smart thing to do is to sodl nau and gtfo is that right?

The smart thing to do is to admit there is a problem and search for a solution.

You don't think my solution is plausible?

That's not qualify as a solution in my book.

So... much ado about nothing...

Solution is to run away from ghash.io and not be to greedy for couple of extra bucks from theirs no fee and merged mining.

A solution that involved the need for human beings to not be greedy is not a viable and realistic solution.

Ah yes u are right stupid me . People cant not be greedy LOL .

[freebit13]

Its a psychological number, the main strength of bitcoin is to be a decentralized system, is now more and more concentrated by a single entity. It shall make headlines!

I honestly thought that miners, with all they have invested and have to have invested these days would not be so stupid as to let this come about. Maybe it's time to diversify a little.

I think the problem (not really a problem) is that mining has become dead-easy (it must be if I am) and mining hardware is really easy to come by, so there are a lot of people getting into it that don't really know a lot about bitcoin and they go straight to the biggest pool that offers the most reward. As I mentioned, it happened a few months ago and once word went around people left in droves. I guess in the end it's a good way of educating newcomers to the game.

People will mine at GHash.io, just like people will order hardware from bfl, there's always fresh meat.

[justusranvier]

Is the ghash directly from people using cex. Those fees are crazy.

The insanity at CEX is a direct result of them not having effective competition because all their potential competitors are legally shut out of the market.

As a result, you get a situation where people will pay 1 BTC to buy a fixed amount of hashing power with a net present value of 0.5 BTC, because apparently nobody buying mining shares at CEX has any fucking idea what they are doing (or if they do get it, they just don't care because they think there will be a greater fool they can sell to).

[conspirosphere.tk]

This is probably illegal in every possible jurisdiction.

Is it really? The exchanges aren't regulated by the financial authorities.

Though even if it is, it's almost assuredly happening.

I think so, and if they're very evil (like some banksters) they could even frontrun the trades of their clients by some milliseconds when they find it profitable.

[NotLambchop]

Sorry if OT, but with all the mining pool discussions...

Greetings Eligius miners,

So, after some investigation over the past month or so, it turns out a couple of clients/addresses were involved in a “block withholding attack” against Eligius which has cost us an estimated 300 BTC, and likely miners of other pools as well. A block withholding attack is where a miner submits low difficulty shares but does not submit block solutions— so they appear to be working for the pool and continue to get paid while not actually doing useful work for the pool.
[...]

[elasticband]

The limited buyer group tends to insure that auctions go below market.
Unless these coins are more valuable than others.
The bigger the buying audience, the better the auction pricing and closer to market.

The sheer price also reduces the market. 3000 at current prices is $1.8 million. And there's more than one package too so supply is fairly high. Some will likely go for not too far below market value but I expect a few to go for 40% or more discount. Though I wouldn't be shocked to see the whole lot go for really cheap.

this auction is a great entry point for large buyers without moving the market. try buying volume like this on an exchange without sending us to the moon.

I think the auction will end above market price but no where near where market price would be if that volume were bought on an exchange.

[Feri22]

It's not possible to add some kind of Proof of Stake feature to solve this? It would solve also the declining number of full nodes, because there would be some reward for running full node via "minting" or "forging" or how they call it...?

[elasticband]

The limited buyer group tends to insure that auctions go below market.
Unless these coins are more valuable than others.
The bigger the buying audience, the better the auction pricing and closer to market.

The sheer price also reduces the market. 3000 at current prices is $1.8 million. And there's more than one package too so supply is fairly high. Some will likely go for not too far below market value but I expect a few to go for 40% or more discount. Though I wouldn't be shocked to see the whole lot go for really cheap.

this auction is a great entry point for large buyers without moving the market. try buying volume like this on an exchange without sending us to the moon.

I think the auction will end above market price but no where near where market price would be if that volume were bought on an exchange.

saying that, it depends if all the billionaires out there see it the same was a simpleton like myself

[Parazyd]

Ghash.io is back to 45%. Hope it's a temp fix. It's still too much.

[Krabby]

We should be much closer to $10 by now. Bitcoin makes no sense. 

Why do you want bitcoin to fail?

[adamstgBit]

We should be much closer to $10 by now. Bitcoin makes no sense. 

Why do you want bitcoin to fail?

hes just talking shit for giggles

[Krabby]

We should be much closer to $10 by now. Bitcoin makes no sense. 

Why do you want bitcoin to fail?

hes just talking shit for giggles

And we're not?

[stckpkr7000]

He's just a troll looking for a reaction.... People usually have skin in the game if they post on threads like this one.