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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
Total Voters: 62

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26372420 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
smiley123
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June 14, 2014, 06:21:58 AM

For those that are still unclear on how the 51% attack works, here are some youtubes from the "World Bitcoin Network" guy:

part1:
http://www.youtube.com/watch?v=bi2thGzzNSs

part2:
http://www.youtube.com/watch?v=Kjtgp5h-jEY
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RobFordWotWot
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time


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June 14, 2014, 06:24:32 AM

You don't have to go home but you can't stay here.
Mythul
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June 14, 2014, 06:36:27 AM

Ah well, lost all profit I've made in the last month....guess I have to get used to the Bitcoin roller coaster.
ChartBuddy
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June 14, 2014, 07:01:07 AM


Explanation
Parazyd
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June 14, 2014, 07:18:48 AM

Adam, told you that you're wrong Tongue
It's gonna be like this until the auction.
segeln
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June 14, 2014, 07:23:55 AM

Why the sudden gloom?  Price is falling a bit but still way up from April.

Some bad news that I did not see? Karpelès bought GHash.io?  The FBI seized the blockchain?  Satoshi committed seppuku?
+1
Searing
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June 14, 2014, 07:27:38 AM

Why the sudden gloom?  Price is falling a bit but still way up from April.

Some bad news that I did not see? Karpelès bought GHash.io?  The FBI seized the blockchain?  Satoshi committed seppuku?
+1

yeah imagine if 'mark karpeles had GHash.io!....it is a 2 part process....1) have the capablity as  a pool to muck up and fork the network

and

2) have 'someone' dumb enough to try to 'game the system' and flush the bitcoin network down the toliet when he messes up

again look at GOX a money makiing machine if ever there was one..and he still managed to flush it

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June 14, 2014, 07:51:45 AM

https://bitcoinfoundation.org/blog/wp-content/uploads/2014/04/Bitcoin-Risk-Management-Study-Spring-2014.pdf
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June 14, 2014, 07:59:04 AM

also withholding blocks, to manipulate the perceived hashrate and effectively attack other mining pools, is a problem
The block withholding attack might actually end up being what limits the size of pools in the end.

If it's no longer safe to accept random members of the public into a pool, then the pool membership needs to be limited to trusted hashers.

This means a larger number of pools for a given number of hashers.
+1

Block withholding attack far more serious issue I think than people realize.
@justusranvier, it doesn't work that way.  It's the pool that is holding back the blocks not the members.


ORLY?

https://bitcointalk.org/index.php?topic=441465.msg7282674#msg7282674
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June 14, 2014, 08:00:59 AM


Explanation
blatchcorn
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June 14, 2014, 08:01:59 AM

Their perceived likelihood of a 51% attack is way too high for my likings
akujin
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June 14, 2014, 08:07:01 AM

Down it goes! Hahaha not enough fuel to hit the 600s  Grin Grin Grin
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June 14, 2014, 08:09:43 AM

Down it goes! Hahaha not enough fuel to hit the 600s  Grin Grin Grin

Yet another entry opportunity Smiley


sidhujag
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June 14, 2014, 08:11:17 AM

also withholding blocks, to manipulate the perceived hashrate and effectively attack other mining pools, is a problem
The block withholding attack might actually end up being what limits the size of pools in the end.

If it's no longer safe to accept random members of the public into a pool, then the pool membership needs to be limited to trusted hashers.

This means a larger number of pools for a given number of hashers.
+1

Block withholding attack far more serious issue I think than people realize.

I keep reading this. Its a far less serious issue than I think YOU and most people like you realize.

BTW there are 2 types of block withholding attacks you know?
fonzie
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June 14, 2014, 08:13:10 AM

Bottom catchers get ready for the next 50-100$ candle!

Gravity still seems to work. Finix trying to catch up with Stamp. Gogogo margin calls.
sidhujag
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June 14, 2014, 08:13:25 AM

also withholding blocks, to manipulate the perceived hashrate and effectively attack other mining pools, is a problem
The block withholding attack might actually end up being what limits the size of pools in the end.

If it's no longer safe to accept random members of the public into a pool, then the pool membership needs to be limited to trusted hashers.

This means a larger number of pools for a given number of hashers.
+1

Block withholding attack far more serious issue I think than people realize.
@justusranvier, it doesn't work that way.  It's the pool that is holding back the blocks not the members.

Go back to school fool.
Parazyd
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June 14, 2014, 08:17:53 AM


Anything from the Bitcoin Foundation seems like a fail.
akujin
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June 14, 2014, 08:19:17 AM
Last edit: June 14, 2014, 08:34:32 AM by akujin

Down it goes! Hahaha not enough fuel to hit the 600s  Grin Grin Grin

Yet another entry opportunity Smiley

Of course  Grin Grin Grin
Lucky are those who dumped 8hrs ago. They have fresh fiat to catch this dump  Grin
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June 14, 2014, 08:19:58 AM

Whether the 51% attack is a real threat or not makes no difference. Perception is all that matters, and that is affecting the price right now. The perception of bitcoin in the media has improved dramatically, but this could set off another round of FUD articles.

Clever arguments to the contrary won't matter. Finding a solution to this perceived threat will. It can also show how the greater bitcoin community can fix its own issues, which any long term investor would find compelling.
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June 14, 2014, 08:22:41 AM

I smell the panic all over thread in the last days... a good indicator that we can be closer to the rally that people thinks.

Strong buy zone.
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