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

[justusranvier]

Can you please explain why they are wrong?

To me it seems they make good points, but I am ready to learn more.

Long story short, they make the same mistake in that post they accuse everybody else of making - assuming the situation is static instead of dynamic.

Two things of interest happened recently. The least interesting one is that a pool got too big, again, and financial and social feedback was successful in changing their behaviour, just like every other time.

The more interesting thing is that is just became widely known just how little it costs it for a malicious miner to sabotage a mining pool via block withholding.

The Bitcoin mining ecosystem is now going to have to adjust to that that new knowledge, and the result might actually bring about the smaller pools everybody wants without any protocol changes at all.

Also this:

The guy has a history of spreading baseless bullshit to garner clicks. Just like the case of Professor Bitcorn, trolling Bitcoin seems to be good for an academic CV.

[Sandia]

Holy Shit!!  BTC-e is above Bitstamp AND Bitfinex?  Armageddon must be coming.

Anyone want to loan me 100k to buy coins?  This price makes me a shop-aholic.

[JayJuanGee]

monkey overslept, but got up in time to say this is a good intraday buy point (12:20pm Eastern)

Monkey is a misleading mammal, gave wrong prediction yesterday

Arguably yes! Arguably no.  Monkey was still short on a dily basis.  He just said it was a good intraday entry point.  In fact during particularly strong moves he does tend to call out more possible turning points than I think he should.  Usually when he picks a turn in the same direction on multiple timescales (like his daily and weekly s&p 500 bearish calls which became aligned on friday 13) the shorter term call is pretty reliable.  If he is bearish on a daily basis then any intraday bullish reports that he makes are less reliable than usual.  They can still be useful!  For example a short term bearish report during a strong uptrend can suggest a time to take profits or hedge efficiently. I usually convert naked options to spreads at such times.

To my lil doggie and me, it seems that you need to spank your monkey.  Sometimes I spank my lil doggie, when she engages in inappropriate/damaging behavior(s). 

[JorgeStolfi]

Just like the case of Professor Bitcorn, trolling Bitcoin seems to be good for an academic CV.

I can tell you on authority that wasting time with bitcoin, in any fashion, is very bad for an academic CV.  Only profs with the academic equivalent of a death wish will indulge in it. 

[N12]

Holy Shit!!  BTC-e is above Bitstamp AND Bitfinex?  Armageddon must be coming.

Peculiar, isn't it?

[David M]

Everything is looking great.

I predict one more down week to flush the nervous and weak and then an advance to the top of the envelope.

http://bitcoincharts.com/charts/bitstampUSD#rg360zigWeeklyztgCzbgEza1gWMAzm1g13za2gWMAzm2g52zvzcv

As for GHASH and 51%.... Wake me up when an unknown miner has that much power...  
Until then, I'm picking greed as the cure.

[fonzie]

Holy Shit!!  BTC-e is above Bitstamp AND Bitfinex?  Armageddon must be coming.

Anyone want to loan me 100k to buy coins?  This price makes me a shop-aholic.

I´m also feelin slightly bullish. As  far as i can remeber BTC-E led the reversal after the crash to 340$ /showed most of the buying support before all other exchanges. Maybe it was also the 400$ MtGox crash.
So this could be, short term, a bullish sign.

[JorgeStolfi]

The more interesting thing is that is just became widely known just how little it costs it for a malicious miner to sabotage a mining pool via block withholding.

Is that like a worker at a diamond mine stealing a diamond that he dug out?

[N12]

Holy Shit!!  BTC-e is above Bitstamp AND Bitfinex?  Armageddon must be coming.

Anyone want to loan me 100k to buy coins?  This price makes me a shop-aholic.

I´m also feelin slightly bullish. As  far as i can remeber BTC-E led the reversal after the crash to 340$ /showed most of the buying support before all other exchanges. Maybe it was also the 400$ MtGox crash.
So this could be, short term, a bullish sign.

That's good to know, thanks.

[justusranvier]

The more interesting thing is that is just became widely known just how little it costs it for a malicious miner to sabotage a mining pool via block withholding.

Is that like a worker at a diamond mine stealing a diamond that he dug out?

More like a worker at a diamond vapourizing the diamond instead of digging it out of the ground.

He still gets paid his wage (which is slightly diminished because the mine earned less) but the total harm caused to the mine is larger than the amount he gives up in income.

[samsonn25]

Hashrate goes down when price is rising, now hashrate is goin up while btc price is falling.  

99.5 Billion now

[fonzie]

Choo Choo@ Finex 

[N12]

Choo Choo@ Finex 

Bitstamp is following. Well, they followed for a bit.

[smiley123]

For anyone that can understand Italian, here is a youtube of a bitcoin hearing by the Italian government.  I think the live part is over, but this just happened today.  If it still says "live" then you will need to rewind and skip the history part to get to the hearing.

Diretta canale satellitare della Camera dei deputati:
http://www.youtube.com/watch?v=Y5h-KfwC4aI

Can you say the overall punchline of it, especially since it is in Italian? 

Was the proceeding positive? 

Was it just gathering evidence for consideration of the government concerning future legislation?

Can you help us out a little with some kind of overview?

Sure, I haven't finished watching it yet.  I missed it live and its like 4 hours long. But so far it looks like "just gathering evidence for consideration of the government concerning future legislation."

[Pruden]

Hey Blitz.... I am very excited to notice that you got rid of that misleading definition of FUD from your signature ... that is great!!!! 

In order that we can better understand the meaning of your statement, above, are you now back to using the commonly accepted meaning of FUD?  That is "fear, uncertainty and doubt"?

Dude, I know bitcoins can't buy everything but please do get a sense of humour.

[N12]

Does someone know why the Chinese exchanges are constantly higher than any others?

[JayJuanGee]

Dubai could have 400 fully operational Bitcoin ATMs in the next two weeks --> http://bitcoinexaminer.org/dubai-400-fully-operational-bitcoin-atm-two-weeks/?utm_source=twitter

SELL!! SELL!! Bitcoin is over!! We are going to $100!! Poor bears

In the past 5-6 months, I have found this news to be considerably amazing - like how could one city need or use so many bitcoin machines? 

If bitcoin were to become a central aspect of the Dubai economy, then 400 ATMs would make sense....

It just remains interesting to me about 400 ATMs going into place in one city when about 99% of the world's population likely does NOT even know what bitcoin is, or at least NOT even invested 1 satoshi into bitcoin.

[JayJuanGee]

I would NOT call any body stupid or their actions stupid b/c of religion

Joining cults isn't an issue of intelligence. It's more a reflection of emotional health vs injury.

Studies say otherwise. There has been a negative correlation between religion and IQ for the majority of test subjects.

Do I really have to bring up the distinction between correlation and causation?

You just did.   

[Arghhh]

Mini-rally because this:
https://twitter.com/barrysilbert/status/477931080889012224

"1/Announcement: @BitcoinTrust and SecondMarket's bitcoin trading desk will be forming a syndicate to bid in US Marshals bitcoin auction..."

Reddit discussion:
http://www.reddit.com/r/Bitcoin/comments/285qzk/bitcointrust_and_secondmarkets_bitcoin_trading/

[ChartBuddy]

Explanation