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

[Fatman3001]

The problem is that our usual discussion thread for this type of thing (Gold Collapsing. Bitcoin UP) was locked by the Forum Administrators.  Furthermore, my submissions to /r/bitcoin are all censored now.  Since I've lost my two favourite outlets, my Bitcoin addiction is leaking into nearby threads...

http://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/

Crazy.  Cypherdoc just posted an announcement for his thread's new home here and BANG, the Admin killed it!

In the WO thread?

[1714319824]

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[1714319824]

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[ChartBuddy]

Coin
Explanation

[coinpr0n]

Overnight slump just missed my buy order by a few cents. Going to keep it there for now, no clear trend yet.

[btccashacc]

to me to help bitcoin price, place your buy order at 200$ keep strong
bitcoin price will be up more and more and you will get more profit too

[ChartBuddy]

Coin
Explanation

[mattiadeabtc]

Overnight slump just missed my buy order by a few cents. Going to keep it there for now, no clear trend yet.

I had the same situation, for 7 cents

[PoolMinor]

[bassclef]

Futures settlement party starts the right shoulder of an inverse head & shoulders reversal pattern. High volume buying on Stamp this week. Asks thinning out while bid sides firming up.

Get 'em if you want 'em; not much selling left to push the price down.

(imo)

[cyclotronmajesty]

So what's the weekend going to look like? Up? Down? Sideways?

[Fatman3001]

Futures settlement party starts the right shoulder of an inverse head & shoulders reversal pattern. High volume buying on Stamp this week. Asks thinning out while bid sides firming up.

Get 'em if you want 'em; not much selling left to push the price down.

(imo)

This.

If you believe the price will go up, buy. If not, don't. Waiting for it to drop $2-3 when we're waiting for a pump is a bit strange to me.

But, by all means, feel free to come here and bitch about how you narrowly missed your buy in price when we're $30 up.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[aztecminer]

Can't you see what these assholes are doing? They want to scare everyone off of BFX because those $25 M in margin longs will all have to close at some point. BY opposing block size increase, they are keeping almost any new investment from VCs because a Bitcoin that doesn't scale is a bitcoin that can't disrupt. So when the market slumps, it will flash-crash on BFX and they will be the only ones on BFX scooping up BTC for pennies on the dollar.  

BFX has problems but so do all other exchanges.

both bulls and bears are taking down leverage. We're seeing a slump because miners don't run the show. The market does and the market ain't buying your shitty BIP100.

not being able to withdraw is a serious problem imo. if didn't have technical problems then wouldnt have technical glitches that cause trading and withdrawals to stop. this is why bitfinex is working very hard to fix all their technical problems. it's like if your bitcoins are secure then they cant be hacked and stolen. it will be pointless to scoop up cheap coins if you cannot withdraw them. i think your theory is bunk . it not like "those assholes" are stopping trading and withdrawals on BFX in some kind of scheme. those problems seem extreme. that is why people are closing their longs and shorts leaving BFX.

[ChartBuddy]

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Explanation

[Monopoly]

So what's the weekend going to look like? Up? Down? Sideways?

I think Sideways ....

Silence before the storm ......... we will see lower price Soon , best time for selling ...............

[JorgeStolfi]

BIP100 seems awesome!

[ ... ]A key goal, therefore, is to transition the speed limit from software control to market control.
Remove the policy wedge. Let the free market decide the long term shape of bitcoin’s
transaction fee market, level of security and level of decentralization.
Miner voting was chosen for BIP 100 as a “lesser of the evils” Stakeholder voting is appealing,

Jeff seems to be making the same mistake that the Blockstream devs did: assume that the block size limit is meant to limit traffic. (That would make the speed limit analogy pertinent.)

But that is not the purpose of the block size limit, and it never was.  The original 32 MB size limit existed for programming convenience reasons (to make blocks fit into a single message), and ws lowered to 1 MB to prevent a specific hypothetical DoS attack (a rogue miner solving a block so big that it would choke some players).  The block size limit was, and should always be, many times higher than the expecte average normal traffic, so that it is never a cap to it.

[ChartBuddy]

Coin
Explanation

[adamstgBit]

BIP100 seems awesome!

[ ... ]A key goal, therefore, is to transition the speed limit from software control to market control.
Remove the policy wedge. Let the free market decide the long term shape of bitcoin’s
transaction fee market, level of security and level of decentralization.
Miner voting was chosen for BIP 100 as a “lesser of the evils” Stakeholder voting is appealing,

Jeff seems to be making the same mistake that the Blockstream devs did: assume that the block size limit is meant to limit traffic. (That would make the speed limit analogy pertinent.)

But that is not the purpose of the block size limit, and it never was.  The original 32 MB size limit existed for programming convenience reasons (to make blocks fit into a single message), and ws lowered to 1 MB to prevent a specific hypothetical DoS attack (a rogue miner solving a block so big that it would choke some players).  The block size limit was, and should always be, many times higher than the expecte average normal traffic, so that it is never a cap to it.

at first there was no blocksize limit, but there was a 32MB max p2p msg, there still is this limit, with the addition of 1MB blocklimit

why blocklimit was originally designed to do is beside the point

today poeple agree the lower the blocklimit to easier it is for miners to participate in mining

we all want as many participants , while making sure confirmation times aren't slowed by blocklimit. BIP100 will simply allow miners to slowly adjust blocklimt to achieve just that.

[ChartBuddy]

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Explanation

[BuildTheFuture]

That would be like allowing miners to vote on the difficulty. There's a reason the difficulty is designed to automatically scale, outside the control of miners. To prevent them gaming it. Block size should also have some straightforward mechanism to auto-scale.