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Question: Closing BTC Price June 28:
$0 - 0 (0%)
<$7,000 - 0 (0%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 0 (0%)
$8,500-$8,999 - 0 (0%)
$9,000-$9,499 - 0 (0%)
$9,500-$9,999 - 0 (0%)
$10,000-$10,499 - 0 (0%)
$10,500-10,999 - 0 (0%)
$11,000-$11,499 - 0 (0%)
$11,500-$12,000 - 0 (0%)
>$12,000 - 0 (0%)
>$20,000 - 0 (0%)
Total Voters: 0

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21230195 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. (66 posts by 16 users deleted.)
Ask Ken About Love
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April 03, 2015, 03:20:00 PM

4) Bitcoin is not a traditional investment, and  also the release of new coins is not endless, it is very specific and known values, known by all in advance. No surprises here.

... unless, surprise, the top mining pools decide (with the main developers' blessing) that the next reward halvings need to be postponed for a couple of years, in order to ensure that mining remains profitable and they are not forced to abuse their overwhelming hashpower in nastier ways.

This would kill bitcoin value, this is called suicide.

That well may be, but if you have hangars' worth of gear that could keep mining at a profit @current block reward rate, vs. same hangars worth of gear that's a disposal liability @1/2 the rate... Cheesy

Mine RVN and with 0% mining fees and get paid in BTC, ETH, XMR or RVN.

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JorgeStolfi
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April 03, 2015, 03:22:09 PM

This would kill bitcoin value, this is called suicide.

That is the only "defense" I have seen against that "attack".  But it is only wishful thinking about how the users and other players would react.

I bet that, if that "attack" were to happen, 99% of the users would not even understand what it means, or care to know. They would just see the notice "new client release available, please upgrade before 01/Mar/2016", and will comply.

Even the ideological bitcoiners who understand and hate the change would comply, and even support the change; because making a fuss about it would be suicide for them.

Just close your eyes and repeat "om mani blockchain hum, bitcoin was meant to have a 25 M BTC cap, the current cap is wrong".  After saying it a few thousand times, hopefully your soul will open and you will see the light.  Grin
empowering
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April 03, 2015, 03:23:47 PM

4) Bitcoin is not a traditional investment, and  also the release of new coins is not endless, it is very specific and known values, known by all in advance. No surprises here.

... unless, surprise, the top mining pools decide (with the main developers' blessing) that the next reward halvings need to be postponed for a couple of years, in order to ensure that mining remains profitable and they are not forced to abuse their overwhelming hashpower in nastier ways.

This would kill bitcoin value, this is called suicide.

That well may be, but if you have hangars' worth of gear that could keep mining at a profit @current block reward rate, vs. same hangars worth of gear that's a disposal liability @1/2 the rate... Cheesy

yeah wow.. I am sure the miners have never considered that.

Maybe you should send them a shnappy all points bulletin, cc everyone

I already have the subject title for you as follows:

"SHOCKING NEWSES"

or

"SOME OBVIOUS SHIT YOU HAVE ALREADY THOUGHT OF"


or

"I HATE TO BREAK IT TO YOU MINERS BUT....."


to name but a few.

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April 03, 2015, 03:24:50 PM

This would kill bitcoin value, this is called suicide.

That is the only "defense" I have seen against that "attack".  But it is only wishful thinking about how the users and other players would react.

I bet that, if that "attack" were to happen, 99% of the users would not even understand what it means, or care to know. They would just see the notice "new client release available, please upgrade before 01/Mar/2016", and will comply.

Even the ideological bitcoiners who understand and hate the change would comply, and even support the change; because making a fuss about it would be suicide for them.

Just close your eyes and repeat "om mani blockchain hum, bitcoin was meant to have a 25 M BTC cap, the current cap is wrong".  After saying it a few thousand times, hopefully your soul will open and you will see the light.  Grin

nah.... I disagree, it would be the end of BTC as we know it, and then it would be something else.

Like many many have said before, try it...
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April 03, 2015, 03:26:49 PM

Bearish divergence rsi 30m or 1h btcchina.
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April 03, 2015, 03:30:38 PM

4) Bitcoin is not a traditional investment, and  also the release of new coins is not endless, it is very specific and known values, known by all in advance. No surprises here.

... unless, surprise, the top mining pools decide (with the main developers' blessing) that the next reward halvings need to be postponed for a couple of years, in order to ensure that mining remains profitable and they are not forced to abuse their overwhelming hashpower in nastier ways.

This would kill bitcoin value, this is called suicide.

That well may be, but if you have hangars' worth of gear that could keep mining at a profit @current block reward rate, vs. same hangars worth of gear that's a disposal liability @1/2 the rate... Cheesy

yeah wow.. I am sure the miners have never considered that.
...

I'm sure they've considered it, and will act on it once the time is right Smiley
BTW, what's with the double-spacing faggiotry?  I realize you have nothing to say, making me scroll won't fool me into thinking otherwise.
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April 03, 2015, 03:34:36 PM

4) Bitcoin is not a traditional investment, and  also the release of new coins is not endless, it is very specific and known values, known by all in advance. No surprises here.

... unless, surprise, the top mining pools decide (with the main developers' blessing) that the next reward halvings need to be postponed for a couple of years, in order to ensure that mining remains profitable and they are not forced to abuse their overwhelming hashpower in nastier ways.

This would kill bitcoin value, this is called suicide.

That well may be, but if you have hangars' worth of gear that could keep mining at a profit @current block reward rate, vs. same hangars worth of gear that's a disposal liability @1/2 the rate... Cheesy

yeah wow.. I am sure the miners have never considered that.
...

I'm sure they've considered it, and will act on it once the time is right Smiley
BTW, what's with the double-spacing faggiotry?  I realize you have nothing to say, making me scroll won't fool me into thinking otherwise.

^That.  Who knows what the dev/mining cabal is cooking up for us?
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April 03, 2015, 03:40:27 PM

Haha, Bitcoin criminal scum!  Gotcha!

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April 03, 2015, 03:41:10 PM

wow shorts are actually increasing....

you'd think they'd cover knowing its going to be >300 in <2weeks
JorgeStolfi
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April 03, 2015, 03:45:45 PM

what you describe is a scenario that would = me pulling out what I have in BTC and investing it back into other areas.

it would be the end of BTC as we know it, and then it would be something else.

Like many many have said before, try it...

The bitcoiners who can understand the risk say so, obviously because they have no other hope to cling on.  But what about all those Chinese day-traders, drug buyers, currency remitters -- would they just give up on bitcoin too?  Would Coinbase and all other bitcoin business shut their doors -- or will they side with the majority miners, and reasure clients that the change is harmless, really?

Of course and my government could decide to tax me at 90% on my earnings as of tomorrow too.

Not many decades ago, revenue tax used a progressive schedule whose brackets did not stop at 35% (or whatever is now the top rate).  People with higher incomes paid as much as 60% tax on their earnings.  I don't know whether some made it to the 90% bracket of higher.  But the point is that no human decision is impossible, not even 90% tax on earnings.

(By the way, the reason we are seeing increasing concentration of wealth now is that the progressive revenue tax was abolished (in Reagan's time, or perhaps earlier), and there are so many tax exemptions that only the richest can use.)
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April 03, 2015, 03:55:00 PM

what you describe is a scenario that would = me pulling out what I have in BTC and investing it back into other areas.

it would be the end of BTC as we know it, and then it would be something else.

Like many many have said before, try it...

The bitcoiners who can understand the risk say so, obviously because they have no other hope to cling on.  But what about all those Chinese day-traders, drug buyers, currency remitters -- would they just give up on bitcoin too?  Would Coinbase and all other bitcoin business shut their doors -- or will they side with the majority miners, and reasure clients that the change is harmless, really?

Of course and my government could decide to tax me at 90% on my earnings as of tomorrow too.

Not many decades ago, revenue tax used a progressive schedule whose brackets did not stop at 35% (or whatever is now the top rate).  People with higher incomes paid as much as 60% tax on their earnings.  I don't know whether some made it to the 90% bracket of higher.  But the point is that no human decision is impossible, not even 90% tax on earnings.

(By the way, the reason we are seeing increasing concentration of wealth now is that the progressive revenue tax was abolished (in Reagan's time, or perhaps earlier), and there are so many tax exemptions that only the richest can use.)


its hard to reach consensus on some technical detail like block size limit, you think all the miners/devs are going to agree to fuck with the inflation rate and kill bitcoin as we know it...

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April 03, 2015, 03:58:43 PM

Coin
Explanation
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April 03, 2015, 03:59:41 PM

Trolls keep trollin', meanwhile bid support at 250 rising steadily...

still relevant
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April 03, 2015, 04:02:16 PM

LOL stolfi. Thank you for your pathetic attempts to provide imaginary "what if" scenarios for made up DOOOOOOOM, but we are growing impatient for the real thing.

Fuck the eyebrow indeed!

 Tongue
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April 03, 2015, 04:09:54 PM

anyone remember the web with the countdown to the halving?
Thanks

It's http://bitcoinclock.com/
Just a suggestion, don't mind, I think you should have asked this somewhere else like in Beginners & Help or Bitcoin Discussion...

Isn't it refreshing to find a straightforward question and answer that actually relates to that bitcoin stuff on this thread? First time in a few months for me, but maybe I've been distracted.

I also immediately got confused and disorientated  Grin
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April 03, 2015, 04:15:29 PM

its hard to reach consensus on some technical detail like block size limit, you think all the miners/devs are going to agree to fuck with the inflation rate and kill bitcoin as we know it...

The miners have nothing to gain by increasing the block size limit.  On the other hand, if they succeeded in delaying the next halving by 2 years, at the current BTC price, they would get about 320 million dollars extra revenue. 

The last reward halving (on 20111-11-11) did not have any visible effect on price.  The price kept rising gradually from the recent low of ~10 to ~13, and lingered there until 2013-01-06, when the first 2013 rally started.  Thus, a postponement of the 2016 halving, by itself, would probably have little effect on the price -- unless the purists go around spreading their FUD and causing the chickens to scramble out in panic...
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April 03, 2015, 04:16:00 PM

wow shorts are actually increasing....

you'd think they'd cover knowing its going to be >300 in <2weeks

Retail gonna short.
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April 03, 2015, 04:18:07 PM

Trolls keep trollin', meanwhile bid support at 250 rising steadily...

still relevant
Oh, does it mean, bear market is done???  Huh
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April 03, 2015, 04:18:28 PM

Started reading a sob story about Burt, The Bitcoin Criminal, and all I could think of was this song I used to listen to in my tender formative years:

 ♬
I used to know a man named Burt
When I was but a lad
He was an old acquaintance
Of my mom and my dad

I don't think that I met him
More than just once
But I still recall him well
I'm not goddamn dunce




And you would not believe
What it was that he had done
He blew his own fucking guts out
With his own fucking gun

Yeah, mom and folks
They were shocked as you can imagine
When they heard about old Burt
And I said to myself
I said "Ouch, that's gotta hurt!"


Sorry if somewhat OT.
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April 03, 2015, 04:22:28 PM

awwww man that is fucking gruesome ... reminds me of college when i witnessed a hazing incident go horribly wrong ... duct taped bound frat pledges in the back of a pickup truck were meant to be intentionally scared by heading head on with another vehicle driven by other members of the frat ... and they were supposed to swerve to avoid a head on collision ... they did not manage to avoid the head on collision , either because they mis-timed their swerve or because they fucked up / panicked on who was supposed to swerve left/right ... in any case , one of the pledges got vaulted into the back of the pickup truck cab headfirst , whereby his nose was mostly ... ummm ... separated from his face ... and was hanging down over his mouth ... yeaaaahhh ...
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