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

[JimboToronto]

The price of Bitcoin is up hopefully soon pass the U$ 300

First, let's see if we can hold $250.

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

The price of Bitcoin is up hopefully soon pass the U$ 300

First, let's see if we can hold $250.

So far so good. If we can hold just a few more hours until the European open, we're golden. Greeks will take over and pump it over $260.

[windjc]

The next bubble will be the bubble of altcoins. Those, who know what they're doing, have already positioned themselves under select altcoins.

The excitement and crazy gains will be in the alts. Bitcoin will slowly implode on the weight of it's wasteful mining network. Speculators will stay away from bitcoin for the same reason - the mining network just siphons too much speculator money from the market. Some corporate fools will try to keep the bitcoin hype going, but nobody will eventually care. Money has moved into the bitcoin market mainly because of speculation, and the odds are currently very bad for everyone, because it's not even a zero-sum-game anymore, it's a game where the speculators have to feed large mining farms whose contributions are marginal in return.

LMAO.

[billyjoeallen]

The next bubble will be the bubble of altcoins. Those, who know what they're doing, have already positioned themselves under select altcoins.

The excitement and crazy gains will be in the alts. Bitcoin will slowly implode on the weight of it's wasteful mining network. Speculators will stay away from bitcoin for the same reason - the mining network just siphons too much speculator money from the market. Some corporate fools will try to keep the bitcoin hype going, but nobody will eventually care. Money has moved into the bitcoin market mainly because of speculation, and the odds are currently very bad for everyone, because it's not even a zero-sum-game anymore, it's a game where the speculators have to feed large mining farms whose contributions are marginal in return.

LMAO.

Mining isn't wasteful. The more hash power, the harder it is to mount a 51% attack. This clown is a miner who can't compete, so he mines shitcoins and talks them up and bad-mouths the only crypto that's truly scarce.

[Mervyn_Pumpkinhead]

The next bubble will be the bubble of altcoins. Those, who know what they're doing, have already positioned themselves under select altcoins.

The excitement and crazy gains will be in the alts. Bitcoin will slowly implode on the weight of it's wasteful mining network. Speculators will stay away from bitcoin for the same reason - the mining network just siphons too much speculator money from the market. Some corporate fools will try to keep the bitcoin hype going, but nobody will eventually care. Money has moved into the bitcoin market mainly because of speculation, and the odds are currently very bad for everyone, because it's not even a zero-sum-game anymore, it's a game where the speculators have to feed large mining farms whose contributions are marginal in return.

LMAO.

Mining isn't wasteful. The more hash power, the harder it is to mount a 51% attack. This clown is a miner who can't compete, so he mines shitcoins and talks them up and bad-mouths the only crypto that's truly scarce.

Pure PoW is a failed concept, because the main threat lies in software vulnerability and increasing hashrate doesn't solve this threat. General hashrate of the network doesn't secure the network from software vulnerabilities that could plague the major mining pools or even the majority of users. PoW security concept is gimmicky, because it depends on the notion that the software is 100% secure. Piece of software doesn't only have to depend on it's own security properties, but also on the security properties of other software it depends on. A similar vulnerability to the heartbleed bug could could compromise the security of the entire cryptocurrency network. Some cryptocurrencies that have adopted PoS into the equation, can offer the same level of security but with A LOT cheaper costs. This means that the odds of winning are a lot better for the speculators, because they don't have monkeys mining on their back. Monkeys whose "work" has very little real use.

[BitThink]

The next bubble will be the bubble of altcoins. Those, who know what they're doing, have already positioned themselves under select altcoins.

The excitement and crazy gains will be in the alts. Bitcoin will slowly implode on the weight of it's wasteful mining network. Speculators will stay away from bitcoin for the same reason - the mining network just siphons too much speculator money from the market. Some corporate fools will try to keep the bitcoin hype going, but nobody will eventually care. Money has moved into the bitcoin market mainly because of speculation, and the odds are currently very bad for everyone, because it's not even a zero-sum-game anymore, it's a game where the speculators have to feed large mining farms whose contributions are marginal in return.

LMAO.

Mining isn't wasteful. The more hash power, the harder it is to mount a 51% attack. This clown is a miner who can't compete, so he mines shitcoins and talks them up and bad-mouths the only crypto that's truly scarce.

Pure PoW is a failed concept, because the main threat lies in software vulnerability and increasing hashrate doesn't solve this threat. General hashrate of the network doesn't secure the network from software vulnerabilities that could plague the major mining pools or even the majority of users. PoW security concept is gimmicky, because it depends on the notion that the software is 100% secure. Piece of software doesn't only have to depend on it's own security properties, but also on the security properties of other software it depends on. A similar vulnerability to the heartbleed bug could could compromise the security of the entire cryptocurrency network. Some cryptocurrencies that have adopted PoS into the equation, can offer the same level of security but with A LOT cheaper costs. This means that the odds of winning are a lot better for the speculators, because they don't have monkeys mining on their back. Monkeys whose "work" has very little real use.

Any PoS coin can be easily copied by others, so no big money will invest on it. Currently, with the huge hash power, only BTC cannot be copied overnight. That's the reason why most fund are invested on BTC related business.

[inca]

MP take your altcoin pumping to more appropriate fora.

Stamp and btce need to wake up.

[Mervyn_Pumpkinhead]

Any PoS coin can be easily copied by others, so no big money will invest on it. Currently, with the huge hash power, only BTC cannot be copied overnight. That's the reason why most fund are invested on BTC related business.

It's not necessary to have a huge hashrate, because huge hashrate just isn't necessary when the main security threats lie in somewhere else. It's like having iron bars on your windows while your front door is still secured by linen cloth.
Most of the BTC related businesses aren't only BTC related. They are related to cryptocurrencies in general, because most of these companies can offer the same services while quickly adopting new innovating cryptos. The owners of these companies and their investors know that the future is in the field of cryptocurrencies in general and this (r)evolution won't end with bitcoin.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

Any PoS coin can be easily copied by others, so no big money will invest on it. Currently, with the huge hash power, only BTC cannot be copied overnight. That's the reason why most fund are invested on BTC related business.

It's not necessary to have a huge hashrate, because huge hashrate just isn't necessary when the main security threats lie in somewhere else. It's like having iron bars on your windows while your front door is still secured by linen cloth.
Most of the BTC related businesses aren't only BTC related. They are related to cryptocurrencies in general, because most of these companies can offer the same services while quickly adopting new innovating cryptos. The owners of these companies and their investors know that the future is in the field of cryptocurrencies in general and this (r)evolution won't end with bitcoin.

So the solution is to remove the monkey bars as well? Are you a programmer? Do you have an inkling on where the vulnerabilities lie in Bitcoin or are you just thinking hypothetically?

[BitThink]

Any PoS coin can be easily copied by others, so no big money will invest on it. Currently, with the huge hash power, only BTC cannot be copied overnight. That's the reason why most fund are invested on BTC related business.

It's not necessary to have a huge hashrate, because huge hashrate just isn't necessary when the main security threats lie in somewhere else. It's like having iron bars on your windows while your front door is still secured by linen cloth.
Most of the BTC related businesses aren't only BTC related. They are related to cryptocurrencies in general, because most of these companies can offer the same services while quickly adopting new innovating cryptos. The owners of these companies and their investors know that the future is in the field of cryptocurrencies in general and this (r)evolution won't end with bitcoin.

Things are valuable not just because it is good. Anything good but can be easily copied or replaced does not have value. PoS coins are just like this. You can have a very advanced coin, but tomorrow other guy can just copy your idea and create a clone. BTC has its drawbacks (security is not one of them), but due to the huge hash rate, it cannot be easily replaced or copied. The huge hash rate is the key of the real scarce, and is the key of the value of BTC. Those who claim PoS is more advance, more environment friendly have just overlooked this most important point.

[Mervyn_Pumpkinhead]

Any PoS coin can be easily copied by others, so no big money will invest on it. Currently, with the huge hash power, only BTC cannot be copied overnight. That's the reason why most fund are invested on BTC related business.

It's not necessary to have a huge hashrate, because huge hashrate just isn't necessary when the main security threats lie in somewhere else. It's like having iron bars on your windows while your front door is still secured by linen cloth.
Most of the BTC related businesses aren't only BTC related. They are related to cryptocurrencies in general, because most of these companies can offer the same services while quickly adopting new innovating cryptos. The owners of these companies and their investors know that the future is in the field of cryptocurrencies in general and this (r)evolution won't end with bitcoin.

So the solution is to remove the monkey bars as well? Are you a programmer? Do you have an inkling on where the vulnerabilities lie in Bitcoin or are you just thinking hypothetically?

Exactly! The solution is not to waste your money on putting up monkey bars if the main security question lies in somewhere else.
Costs are never high enough if enough gain will come from these costs. But the costs of maintaining the bitcoin mining network are high enough to drag down the winning odds for the speculators, while offering very little in return. It just makes more sense to speculate on markets that have lower costs, while facing the same software security threats. I prefer to bet on people who can do the same thing but cheaper.

[Asrael999]

If only the main purpose of a blockchain was to enable speculation

[Mervyn_Pumpkinhead]

Things are valuable not just because it is good. Anything good but can be easily copied or replaced does not have value. PoS coins are just like this. You can have a very advanced coin, but tomorrow other guy can just copy your idea and create a clone. BTC has its drawbacks (security is not one of them), but due to the huge hash rate, it cannot be easily replaced or copied. The huge hash rate is the key of the real scarce, and is the key of the value of BTC. Those who claim PoS is more advance, more environment friendly have just overlooked this most important point.

Yes, now you are starting to understand what the crypto scenery is all about. It's about an idea and it's constant improvement by better innovative software solutions.
The lazy fortune seekers just want to find THE COIN, so they can buy it and sit on their ass, so they can just be rich while doing nothing. In reality, the scenery will remain highly dynamic for the coming decades, before more refined solutions come out, that can't be perfected much more. But in the closer future, cryptos will start to get old quicker and wealth will start to move around quickly to new and better solutions. It's a nightmare for all the bartenders and and cab drivers who came to the crypto world seeking easy riches. It means that they actually have to understand the bigger picture of things to predict the winning outcome.

[klee]

sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo

[BitThink]

Things are valuable not just because it is good. Anything good but can be easily copied or replaced does not have value. PoS coins are just like this. You can have a very advanced coin, but tomorrow other guy can just copy your idea and create a clone. BTC has its drawbacks (security is not one of them), but due to the huge hash rate, it cannot be easily replaced or copied. The huge hash rate is the key of the real scarce, and is the key of the value of BTC. Those who claim PoS is more advance, more environment friendly have just overlooked this most important point.

Yes, now you are starting to understand what the crypto scenery is all about. It's about an idea and it's constant improvement by better innovative software solutions.
The lazy fortune seekers just want to find THE COIN, so they can buy it and sit on their ass, so they can just be rich while doing nothing. In reality, the scenery will remain highly dynamic for the coming decades, before more refined solutions come out, that can't be perfected much more. But in the closer future, cryptos will start to get old quicker and wealth will start to move around quickly to new and better solutions. It's a nightmare for all the bartenders and and cab drivers who came to the crypto world seeking easy riches. It means that they actually have to understand the bigger picture of things to predict the winning outcome.

Scarce creates wealth. If digital coins keeps being replaced by new one and the wealth keeps being redistributed, then it is just a gamble game. No economy can be established on it. It's fine to keep looking for the black horse if what you want is just speculation on new coins. Most investors, however, are looking for a real one coin for the future economy. This coin may evolve, but cannot be completely replaced. Otherwise, it will be a disaster.

[Elwar]

The next bubble will be the bubble of altcoins. Those, who know what they're doing, have already positioned themselves under select altcoins.

The excitement and crazy gains will be in the alts. Bitcoin will slowly implode on the weight of it's wasteful mining network. Speculators will stay away from bitcoin for the same reason - the mining network just siphons too much speculator money from the market. Some corporate fools will try to keep the bitcoin hype going, but nobody will eventually care. Money has moved into the bitcoin market mainly because of speculation, and the odds are currently very bad for everyone, because it's not even a zero-sum-game anymore, it's a game where the speculators have to feed large mining farms whose contributions are marginal in return.

[medialab101]

sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo, sakujo

Japanese? Are you saying 'delete' or 'cancel'?

[Mervyn_Pumpkinhead]

Scarce creates wealth. If digital coins keeps being replaced by new one and the wealth keeps being redistributed, then it is just a gamble game. No economy can be established on it. It's fine to keep looking for the black horse if what you want is just speculation on new coins. Most investors, however, are looking for a real one coin for the future economy. This coin may evolve, but cannot be completely replaced. Otherwise, it will be a disaster.

In the world of finance, practicality and usability creates wealth. Scarcity means nothing if it's based on the beanie baby concept (scarcity for the sake of scarcity). The beanie baby concept is only good for systems that are dependent on the greater fool theory. While all of that can be a fun gamble, it just doesn't have any use in serious finance.
When wealth will start to jump from one crypto to another, then it will only be a disaster to those who are slow on their feet. Those who are quick enough to move with this highly dynamic scenery will prosper. What can I say, Darwin is a bitch.