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

[Cconvert2G36]

Choo Choo?

[1714246014]

1714246014

[1714246014]

1714246014

[1714246014]

1714246014

[Wekkel]

The bounce scenario and down in about 2-3 days sounds plausible.

[criptix]

Everyone bearish and calling for doom.
Time to close the shorts and thinking about going long


Btw. Everyone having privacy problems with xt. You know what blockstream and lightning network does right?  

Anyway i hope core will just push a 2-4 mb upgrade because that is no problem regarding hardware and protocol.

/edit

Also bitcoin users should not trust any authority without doubt - neither the bitcoin chief engineer nor the majority of the core devs.

Bitcoin was designed to be protected from the influence of charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or Satoshi Nakamoto.  Nearly everyone has to agree on a change, and they have to do it without being forced or pressured into it.

[conspirosphere.tk]

I'm wondering how BTC is supposed to react to the global financial collapse in september:
http://www.24hgold.com/english/news-gold-silver-full-on-crash-alert-for-major-world-markets--.aspx

In expectation of the imminent doom, gold is showing some resiliency lately, and gold and BTC have been positively correlated most of the time, so maybe there is hope. I'm just sorry to not have gone full metal at near parity. Maybe I'm still in time for silver.

[adamstgBit]

I'm wondering how BTC is supposed to react to the global financial collapse in september:
http://www.24hgold.com/english/news-gold-silver-full-on-crash-alert-for-major-world-markets--.aspx

In expectation of the imminent doom, gold is showing some resiliency lately, and gold and BTC have been positively correlated most of the time, so maybe there is hope. I'm just sorry to not have gone full metal at near parity. Maybe I'm still in time for silver.

LMAFO

DOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOM

[Fatman3001]

This is still a slippery slope argument. You're assuming that the Bitcoin ecosystem is so stupid that they will adopt just any change no matter how destructive it would be.

It's not stupidity. It's just that most people in the ecosystem are formulating an opinion based on a fraction of the data and possible implications.

If so, then Bitcoin is doomed anyways and we should just all give up. If there are no arguments pro core and/or against this XT implementation then I don't see what you're trying to say here.

I'm saying leave the experts of the core team to do their work. They know what to do and they're doing it well.

PS. You can disagree with Gavin, but to suggest that he doesn't know what he's doing warrants a bit of an explanation. I would be very interested to hear how he went from chief scientist to bumbling ignoramus.

Well, if avg block size is currently at 0.4mb (and even that is full of dust / spam txs which will be wiped out once fee competition starts for 1mb inclusion) and he says we "urgently" need 8mb and that's a very serious reason to fork it while in the process creating a rift among the devs and risking market uncertainty, well... you don't need to be a rocket scientist to realize that something very fishy is going on.

I don't believe he doesn't know what he is doing. He probably knows full well. It's the whole false rationale, motives and modus operandi that I'm having issues with.

If you look at the number of transactions between Jul 2013 and Jan 2014 there is a period where the number of transactions excluding popular addresses doubles. What I see is that if we get another bull run like that, the blocksize will probably hit the ceiling. So there is a bit of urgency to it.

Now, we might not have another bull run any time soon, but in case it happens next month I'd like to see that somebody has a solution lined up. And at this point I fear that a fee hike might strangle Bitcoin in its infancy.

In any event, why do we have to wait until the house is on fire before we buy a fire extinguisher?

And if you, and everyone else who are such gung ho core loyalists, really believe Gavin has a hidden agenda, could you please tell me what that agenda is thought to be? There's a lot of cloudy insinuations, but nothing really to suggest that he wants anything else than what he deems to be best for Bitcoin.

[jnada]

I personally don't care about the price.  What's important to me is that Bitcoin has succeeded in removing the human factor from the money equation.  No longer must we depend on fallible (and corrupt) humans, these so-called "experts":  Bitcoin--world's smartest and greatest supercomputer--is fully automated!
Algorithmically guided by maths and powered by human greed!

And as long only two bitcoin believers exist in this world this currency succeded.

Ave greed!

[ChartBuddy]

Coin
Explanation

[adamstgBit]

This is still a slippery slope argument. You're assuming that the Bitcoin ecosystem is so stupid that they will adopt just any change no matter how destructive it would be.

It's not stupidity. It's just that most people in the ecosystem are formulating an opinion based on a fraction of the data and possible implications.

If so, then Bitcoin is doomed anyways and we should just all give up. If there are no arguments pro core and/or against this XT implementation then I don't see what you're trying to say here.

I'm saying leave the experts of the core team to do their work. They know what to do and they're doing it well.

PS. You can disagree with Gavin, but to suggest that he doesn't know what he's doing warrants a bit of an explanation. I would be very interested to hear how he went from chief scientist to bumbling ignoramus.

Well, if avg block size is currently at 0.4mb (and even that is full of dust / spam txs which will be wiped out once fee competition starts for 1mb inclusion) and he says we "urgently" need 8mb and that's a very serious reason to fork it while in the process creating a rift among the devs and risking market uncertainty, well... you don't need to be a rocket scientist to realize that something very fishy is going on.

I don't believe he doesn't know what he is doing. He probably knows full well. It's the whole false rationale, motives and modus operandi that I'm having issues with.

If you look at the number of transactions between Jul 2013 and Jan 2014 there is a period where the number of transactions excluding popular addresses doubles. What I see is that if we get another bull run like that, the blocksize will probably hit the ceiling. So there is a bit of urgency to it.

Now, we might not have another bull run any time soon, but in case it happens next month I'd like to see that somebody has a solution lined up. And at this point I fear that a fee hike might strangle Bitcoin in its infancy.

In any event, why do we have to wait until the house is on fire before we buy a fire extinguisher?

And if you, and everyone else who are such gung ho core loyalists, really believe Gavin has a hidden agenda, could you please tell me what that agenda is thought to be? There's a lot of cloudy insinuations, but nothing really to suggest that he wants anything else than what he deems to be best for Bitcoin.

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Core devs are invested in blockstream, without a block limit their project is pretty useless

[adamstgBit]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

[becoin]

Core devs are invested in blockstream, without a block limit their project is pretty useless

Without a block limit the whole bitcoin project is pretty useless.

[marcotheminer]

China is buying it up right now!

[adamstgBit]

Core devs are invested in blockstream, without a block limit their project is pretty useless

Without a block limit the whole bitcoin project is pretty useless.

lol tell that to satoshi, he intended to have no block size limit,  block size limit was a quick fix to possible spam attack while coins where pretty useless.

[pinky]

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Haven't you heard that he was selling his bitcoins and buying stocks?

In article from January:

While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead.

https://i.imgur.com/OEC7s6Y.jpg

[Fakhoury]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

Then

[klee]

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Haven't you heard that he was selling his bitcoins and buying stocks?

In article from January:

While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead.

https://i.imgur.com/OEC7s6Y.jpg

Gavin??? NOOOOOOOO!!!!!!! Never!!!!

Right guys??...  

[marcotheminer]

Correction on CNY/BTC.

[smoothie]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

Why don't you just do it and release the source compile it on your end and run it?

[adamstgBit]

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Haven't you heard that he was selling his bitcoins and buying stocks?

In article from January:

While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead.

https://i.imgur.com/OEC7s6Y.jpg

Gavin??? NOOOOOOOO!!!!!!! Never!!!!

Right guys??...  

lol like you haven't done the exact same thing.

wtv i would much rather go with Core, but we need at least a small bump in block limit, if for nothing else but to crush XT and put this BS behind us

[klee]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

Why don't you just do it and release the source compile it on your end and run it?

Fork the XT fork back to Core and then upgrade the Core like this! Do it Adam! Save Bitcorn Bitcoin