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

[cbeast]

What are [the "trolls"] gonna do with their lives if Bitcoin really does die?...

I don't think that bitcoin will die so soon.  Bitcoin does not need to be worth more than 0.10$ to fullfill its purpose of a proof of concept, and will find plenty of volunteers to keep it running, even at that price.

What may die is the economy that was built on top of it, that assumed it would replace national currencies replace paypal replace Western Union become the 'gold backing' for a multitude of better altcoins.

Everyone will lose interest in this and every other public forum. The next crypto will be supported and premined by central banks. There will be nobody that cares about your trolling then.

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[Sitarow]

What are [the "trolls"] gonna do with their lives if Bitcoin really does die?...

I don't think that bitcoin will die so soon.  Bitcoin does not need to be worth more than 0.10$ to fullfill its purpose of a proof of concept, and will find plenty of volunteers to keep it running, even at that price.

What may die is the economy that was built on top of it, that assumed it would replace national currencies replace paypal replace Western Union become the 'gold backing' for a multitude of better altcoins.

Everyone will lose interest in this and every other public forum. The next crypto will be supported and premined by central banks. There will be nobody that cares about your trolling then.

There are serious trust issues that are inevitable with your suggested solution. Employee theft is a reality and under such controls they would have a field day.

However I can see them using "bitcoin" as a trusted communication tool between large institutional banks.

[simmo77]

To me the ignore option is a way to weed threw the wheat vs the shaft in this thread, and then if they feel they have missed something then open up the floor to the "other" perspective.

If you want people to take you seriously, you need to improve your written english.

Threw /= Through   (I know they sound the same).

You sort "the wheat from the chaff" (chaff is the hull of the wheat which is not digestible in humans but is often used for livestock fodder)

[Wandererfromthenorth]

To me the value is what you send and what the other party receives is 100% verified by 3rd party participants and I can't not say the same for ripple as it is centralized in its inception.

I'm just gonna step in and say that while the ripple network requires some degree of counter-party risk with gateways to move any currency in the network, XRP (its native currency) is 100% decentralised like BTC. Only its distribution is centralised, aside from that, to send XRPs around it's basically the same thing as BTC, but without POW and instantly.

But again, the counter-party-free aspect of bitcoin is mostly related to the privacy-paranoia vague narratives of bitcoin in the first place.

[criptix]

http://www.nasdaq.com/article/bitcoins-bubble-means-that-current-levels-shouldnt-be-a-concern-cm432278

sleep tight people

[JorgeStolfi]

what percentage of the bitcoin holders and traders would understand what that piechart means, or care about it?

From what it I have read you may be mistaken about what I find valuable in this technology and the network.

I know that there are people who care for bitcoin for "ideological" reasons, and would get very upset about any deviation from what they perceive as the "core values" of the project.  (Mircea Popescu's "war declaration" about increasing the block size is an example of that.)

However, I believe that the ideologues are a very small fraction of the people involved in the bicoin "industry", and have very little power over it -- economic, computational, or managerial.  I believe that the vast majority of the bitcoiners (say, 99.9%) do not care about those "core values", and would not be upset if they are violated.  On the contrary, the major players would use their economic power to convince everyody that the violations are unimportant, or even good for bitcoin.

In fact, I believe that many of the "ideological" supporters would choose to conform to some violations of the principles, rather than see the project collapse because of "civil war".

I see that already happening now, about the centralization of mining.  True believers should have committed suicide the moment that GHash.io got more than 50% of the hashpower.  Instead, people preferred to believe the argument that a majority miner (or coalition of 4-5 miners)  would never want do any of the naughty things that it could do, because of "the incentives"; and just carried on.

[Sitarow]

To me the ignore option is a way to weed threw the wheat vs the shaft in this thread, and then if they feel they have missed something then open up the floor to the "other" perspective.

If you want people to take you seriously, you need to improve your written english.

Threw /= Through   (I know they sound the same).

You sort "the wheat from the chaff" (chaff is the hull of the wheat which is not digestible in humans but is often used for livestock fodder)

I appreciate your candid remark, English is not my first language.

[noobtrader]

with bitcoin market like this anyone can sleep at night what will happen tommorrow ?

 

[derpinheimer]

with bitcoin market like this anyone can sleep at night what will happen tommorrow ?

 

[Sitarow]

To me the value is what you send and what the other party receives is 100% verified by 3rd party participants and I can't not say the same for ripple as it is centralized in its inception.

I'm just gonna step in and say that while the ripple network requires some degree of counter-party risk with gateways to move any currency in the network, XRP (its native currency) is 100% decentralised like BTC. Only its distribution is centralised, aside from that, to send XRPs around it's basically the same thing as BTC, but without POW and instantly.

But again, most of the time the counter-party free aspect of bitcoin is mostly related to the privacy-paranoia vague narratives of bitcoin in the first place.

What you say is true along with it's own challenges that given time will succeed as a medium to help move the banking institutions into this technology space.

At present it has specialized use of the crypto technology with little flexibility for other use.

[Sitarow]

what percentage of the bitcoin holders and traders would understand what that piechart means, or care about it?

From what it I have read you may be mistaken about what I find valuable in this technology and the network.

I know that there are people who care for bitcoin for "ideological" reasons, and would get very upset about any deviation from what they perceive as the "core values" of the project.  (Mircea Popescu's "war declaration" about increasing the block size is an example of that.)

However, I believe that the ideologues are a very small fraction of the people involved in the bicoin "industry", and have very little power over it -- economic, computational, or managerial.  I believe that the vast majority of the bitcoiners (say, 99.9%) do not care about those "core values", and would not be upset if they are violated.  On the contrary, the major players would use their economic power to convince everyody that the violations are unimportant, or even good for bitcoin.

In fact, I believe that many of the "ideological" supporters would choose to conform to some violations of the principles, rather than see the project collapse because of "civil war".

I see that already happening now, about the centralization of mining.  True believers should have committed suicide the moment that GHash.io got more than 50% of the hashpower.  Instead, people preferred to believe the argument that a majority miner (or coalition of 4-5 miners)  would never want do any of the naughty things that it could do, because of "the incentives"; and just carried on.

One can't factor out the human trait of greed and ego.

[inca]

Huobi seems to like being l33t

[aztecminer]

with bitcoin market like this anyone can sleep at night what will happen tommorrow ?

 

don't worry, they still got to get all the illegal immigrants money into the banks.

[Wandererfromthenorth]

Jesus fucking christ


http://www.dnainfo.com/new-york/20150113/astoria/man-killed-by-roommate-astoria-apartment-nypd-says

[smracer]

Jesus fucking christ


http://www.dnainfo.com/new-york/20150113/astoria/man-killed-by-roommate-astoria-apartment-nypd-says

When there is blood in the streets it is time to buy.

[derpinheimer]

Jesus fucking christ


http://www.dnainfo.com/new-york/20150113/astoria/man-killed-by-roommate-astoria-apartment-nypd-says

When there is blood in the streets it is time to buy.

I dont think that's how the saying is meant to be used, buuuut... I suppose, this is the literal definition.

[dwdoc]

There is a risk that if too many miners go offline block creation may stall.

[BlindMayorBitcorn]

There is a risk that if too many miners go offline block creation may stall.

Honeybadger will adjust?

[twiifm]

Jesus fucking christ


http://www.dnainfo.com/new-york/20150113/astoria/man-killed-by-roommate-astoria-apartment-nypd-says

When there is blood in the streets it is time to buy.

Stop.   It's hammer time

[Wandererfromthenorth]

There is a risk that if too many miners go offline block creation may stall.

https://twitter.com/aantonop/status/555204849361362944
https://twitter.com/aantonop/status/555208610750296065