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Question: Jan. 17 Closing Price:
$0 - 3 (2.7%)
<$6500 - 5 (4.5%)
$6,500-$7,000 - 6 (5.4%)
$7,000-$7,500 - 8 (7.2%)
$7,500-$8,000 - 16 (14.4%)
$8,000-$8,500 - 25 (22.5%)
$8,500-$9,000 - 10 (9%)
$9,000-$9,500 - 15 (13.5%)
>$9,500 - 23 (20.7%)
Total Voters: 111

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21495015 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. (138 posts by 32 users deleted.)
YourMother
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March 19, 2015, 12:54:46 AM

Sometimes the only way to wake up a bulltard from the illusion of wealth is to



piss on him
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March 19, 2015, 12:55:04 AM

fuuuuu uuuuu ck diddily uck ... now i'm only at $1000+ since start of the year instead of $2500+ ... god damned $40 drop in a couple hours ... seriously ? ... you sonsobitches ! ... wtf happened to looking to cross over past 300 and stay above 300 ? ... at least i'm still in the black ... but still ... do the whales realize that every time they shock slam the market for double digit % loss in a matter of hours it further erodes and damages the perception of bitcoin as being a legitimate currency/commodity/thing to invest in whatsoever ?

They don't care

seems like somehow they *should* though yknow ? you don't skull fuck the golden goose ... you let it lay golden eggs
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March 19, 2015, 12:57:35 AM

fuuuuu uuuuu ck diddily uck ... now i'm only at $1000+ since start of the year instead of $2500+ ... god damned $40 drop in a couple hours ... seriously ? ... you sonsobitches ! ... wtf happened to looking to cross over past 300 and stay above 300 ? ... at least i'm still in the black ... but still ... do the whales realize that every time they shock slam the market for double digit % loss in a matter of hours it further erodes and damages the perception of bitcoin as being a legitimate currency/commodity/thing to invest in whatsoever ?

They don't care

seems like somehow they *should* though yknow ? you don't skull fuck the golden goose ... you let it lay golden eggs

LOL. Their parents must have read them the wrong kinds of stories
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March 19, 2015, 01:02:26 AM

Have the Chinese recently been more or less bullish than the rest? If equally or less, I think we have yet another ride down tonight in 1-2 hours, once they wake up to this shit. :/

If they don't have automated stops that's already been triggered I don't see why they would bail if the price is climbing again.

1. The price is merely crawling back up, and it's not doing it fast enough or with enough volume to call it a reversal. It looks more like a correction on the further way down for now.
2. They could simply wake up, read the latest news they've missed and decide that they're out (or simply that it's going to drop even more from that so they will buy back lower). It's happened before, it may happen again - hence the question how bullish/bearish they've been recently compared to the rest.

You're probably right.
I get the feeling that, despite common knowledge on this thread at least, China mostly follows the rest. So I guess the pandas are going to have a party while I'm sleeping.


Aaand... I guess here we go, the question now is how deep.
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March 19, 2015, 01:04:27 AM

Coin
Explanation
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March 19, 2015, 01:10:48 AM

F*cking pandas
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March 19, 2015, 01:11:08 AM

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March 19, 2015, 01:11:57 AM

This is so far from over

Told y'all  Wink
coins101
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March 19, 2015, 01:13:50 AM

How many weak fucking hands are there?
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March 19, 2015, 01:14:14 AM

F*cking pandas

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March 19, 2015, 01:16:32 AM

How many weak fucking hands are there?
It's a currency, not a stock. They are all weak hands.
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March 19, 2015, 01:16:54 AM

lol thats it?
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March 19, 2015, 01:18:03 AM

Now that i've made a shit ton of money off bitcoin, i wanted to show you some of the great yachts that captured my attention.


ENGINE MODEL - MTU
CRUISING SPEED - 18 kt
MAX SPEED - 22 kt
FUEL TANKAGE - N/A
WATER TANKAGE - N/A
HULL MATERIAL - Aluminium
NAVAL ARCHITECT - Frank Mulder
INTERIOR DESIGNER - Ivana Porfiri




Absolutely gorgeous piece of work.
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March 19, 2015, 01:18:39 AM

So, they are not running on the same protocol. So the two blockchains are not the same, since they have to run on different protocols.

Yes, you got it now.

Quote
Different protocol = not the bitcoin protocol accepted by majority of participants.

The protocols are just different; neither is "better" or "more legitimate" than any other.  There is no technical reason compelling a miner to choose one branch or the other.  Without considering the political contextt, there is no way of telling which branch will get the majority of the mining power.

Quote
why do you assume something that has 0, zero, nada possibility, since it has zero incentive to anyone participating in the mining process?

Because it has already happened.  Isn't that a good reason to?

When the OP_MUL bug was fixed, all the miners agreed to switch to the new branch.  There was a very good motivation for that: the orthodox branch was found to be unsafe and included a bogus UTXO with gazillion coins.

As I already said, if and when Gavin proposes another hard fork to increase the block size, I wuld bet that the same woudl happen: all miners will switch to the new protcol, an the old branch will die fro lack of interest.  But the motivation will not be so clear, see the heated disputes.  

The point is that the outcome of a hard fork is not determined by the protocol.  Like any altcoin, a hard-forked branch may or may not gather enough mining power to remain viable, and may or may not become "the" bitcoin.

Quote
Please define FAIR. Show me 1, ONE author in the history of mankind who has an axiom of FAIR VALUE, and has been accepted by the unity of mankind! Quantify me "fair" please.

I don't recall using the word "fair", and I do not see where it comes into discussion.

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The good working of the protocol depends heavily on the behavior of its human players, about which nothing can be proved mathematically.  It assumes that a majority of the players will be driven by immediate greed, and therefore would choose alternative X over Y when considering many specific choices that have been considered when designing the protocol.  However, that assumption is not certain, and the possible situations and choices that the players may face is not bounded.


That is factually not true (aka  a lie). Anyone with interest (=money, principle) in bitcoin is not driven by immediate greed. We had several price run ups followed by burst (bubble), and it is still alive (bitcoin), so "immediate greed" is not the long time motivator.

The protocol assumes, for example, that enough miners will choose to include transactions that have a significant fee, because they would get more money that way.  It assumes that a majority of miners will choose to work on extending the longest chain rather than an orphaned branch, because they would want to maximize their chances of colelcting block rewards.  And so on.  Those assumptions follow from the basic assumption that most miners will want to maximize their immediate gain.  Take away this assumption, and the other assumptions are no longer reasonable.

For example, suppose that some hacker manages to steal the remaining 44 k BTC from the USMS, and the US government threatens to criminalize bitcoin.  American bitcoiners, and investors in bitcoin enterprises in the US, may decide "spontaneously", "for the good of bitcoin", to rewind the blockchain, with a hard fork if needed, to a point before that transaction.  IF such a situation were to develop, would bitcoiners in the rest of the world agree to the fork?

Quote
Also, any change in the protocol is seriously wetted and reviewed by the community, and must be beneficial to the majority, else it would not be implemented by the majority, and would fail (it is still a conscensus mechanism, means majority of participants = consensus)

That is simply not true. Anyone can create a hard fork at any moment, without consulting (or even telling) anyone else.  Those miners who like the change (that may be just a cosmetic one, just enough to distinguish the two versions) can switch, those who do not like it can stick to the old version.  Exchanges and processors can opt for either version, or handle both as two separate cryptocoins.  Users can use either, or both, or switch back and forth between them at any time, without losing the coins that they have in the other.  

A cartel of miners holding the majority of the hashpower could, if they wanted to, pick one branch and make the other branch unusable by "jamming" it.  But that is a separate "FUD".  Other than that, nothing requires or creates a consensus, before or after the fork, and a majority that chooses one branch cannot prevent a minority from going the other way.  Self-interest may cause most miners to converge to one branch and abandon the other, but that convergence (unlike the majority-based consensus mechanism that operates within each chain) is not built into the protocol.  The two clones may well survive, like any two independent cryptocoins.

Quote
You presume that people would act against their own known self interest in the number of millions

Yes, BECAUSE IT HAS ALREADY HAPPENED and IS EXPECTED TO HAPPEN AGAIN (except that I don't think that there are "millions" of bitcoiners who would have to be aware of a hard fork).

In the OP_MUL fork, hundreds of tousands of bitcoiners forgot their immediate self-interest, and agreed to grossly violate the protocol by rewinding the blockchain -- because of longer-term interest.  (AFAIK, the miners who had mined the discarded blocks lost their rewards, but presumably agreed to the rewinding nonetheless.)

EDIT: I see that I did use "fair" when I said that the difficulty had to be adjusted to maintain a "fair rate".  "Fair" in the sense of "acceptably high", e.g. 1 block every 30 minutes rather than 1 block every year.  Not "fair" in the sense of "just", "equitable", etc.
BlindMayorBitcorn
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March 19, 2015, 01:18:57 AM

lol thats it?


that's plenty
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March 19, 2015, 01:20:54 AM

Double bottom?
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March 19, 2015, 01:25:42 AM

fuuuuu uuuuu ck diddily uck ... now i'm only at $1000+ since start of the year instead of $2500+ ... god damned $40 drop in a couple hours ... seriously ? ... you sonsobitches ! ... wtf happened to looking to cross over past 300 and stay above 300 ? ... at least i'm still in the black ... but still ... do the whales realize that every time they shock slam the market for double digit % loss in a matter of hours it further erodes and damages the perception of bitcoin as being a legitimate currency/commodity/thing to invest in whatsoever ?

They don't care

Banks and governments definitely do care because obviously they still aren't too happy about this whole crypto-thing (fear of loosing power, their grip on international finance and whatnot).

Now is it really that far fetched or tinfoilish to believe this dump is (partially/once again) their work? Buy several kBTC from some big chinese miner or steal them from drug markets, dump on the exchanges and enjoy the bad vibes all around crypto-town, watch the rats leave the ship. If rats are stubborn idealists, repeat until they do.

Our gubermints obviously have the gunpowder to pull this off, a million $ or two means absolutely nothing to those guys, for us it's a double-digit percentage drop. Well, repeat until... real scarcity kicks in. The only way to win is to keep playing this game Smiley
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March 19, 2015, 01:30:21 AM

The 4 hour looks mean as hell. No quick bounce back to $300
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March 19, 2015, 01:33:13 AM

Ok this is becoming a lot worse than I expected

Where is the bottom!!!
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March 19, 2015, 01:33:50 AM

Ok this is becoming a lot worse than I expected

Where is the bottom!!!

Its behind you  Tongue
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