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

[cyclotronmajesty]

YAY it's crashing and my long is still open. Thank god it's almost over.  

Glad I can help twerpy Chinese dudes fund their tofu feasts.

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[errornone]

YAY it's crashing and my long is still open. Thank god it's almost over. 

if you are long, you want them to go up, right?

[SirChiko]

============================================

ONLY for donations? Wouldn't that mean that it will be converted into fiat and thus sold?

[gentlemand]

ONLY for donations? Wouldn't that mean that it will be converted into fiat and thus sold?

Same as almost every other business that 'accepts' bitcoin.

There's never been an exchange endorsed, however modestly, by a UK bank yet. Looks like that's about to change with this experiment.

[cyclotronmajesty]

YAY it's crashing and my long is still open. Thank god it's almost over.  

if you are long, you want them to go up, right?

Nah I've already decided crypto is a shit investment. Maybe long term holding works for some but if you want a day trading experience it's expensive.

I'm not going to pull my money out though. I'd feel shame.
I will give it every chance it to redeem itself. But I'm just ready for it to end. I want it to either die hard or give me my money back ASAP. I will continue to try to "make money" fight the good fight. But really i'm tired of this game. It just looks like a ponzi scheme to me. But before I was playing computer games, at least now i've gotten a new hobby to kill time.

FYI I'm actually invested in Litecoin, I was making it not so bad back with bitcoin, and would have maybe broke even in fact, but I saw litecoin as a shortcut when it went up 4 dollars in a month.

Now Litecoin does exactly what Bitcoin does, & is not going up like it used to. That litecoin boom was and still IS a ponzi scheme. Litecoin is the shitcoin. Don't fuck with it.

But i'm a fighter so It's all or nothing for me. I'll gladly take nothing if only to move on with my life & stop wasting time circling my pathetic investment. lol.

The value to me is having learned quite a bit about economics.
Not everything, but allot more that I used to know. So i've gotten a good education, and I know the cryptocurrency thing is a dud, unless perhaps you're an experienced trader and know the market very well. There is quite a bit to learn and it's a 24/7 job.

Some Chinese turds have my money and they control the market. Chinese are the most devious people on earth. They are cunning. I live in China now, it's a "me first" greed fest from what I can tell, but then my Chinese isn't so good. Otherwise they are not such bad people. But they want money and authority with a passion, it's a nationalistic thing and unconscious passion just like everyone else.

Unless I can somehow reverse this death spiral, and which I will try, but highly doubt, I consider crypto a no-go, unless using it perhaps to transfer money in very tight periods of time.

BUT It's simply not a good investment from a layman's perspective, because it's expensive and complicated to buy, you have to go through 2 or 3 middlemen just to get it, then 2 or 3 middlemen to use it. It also depreciates allot more than it appreciates. If for example I asked my boss to pay me in bitcoin i'd be in bigger straits than with fiat.

It's just a stupid game / experiment to me. I'd never put in money I actually need to survive in this ridiculous ponzi scheme.

But I liked the idea of Bitcoin. But I kinda agree with Snowden. It's obviously flawed.

Death can be a relief. So either way i'm happy.

I await my margin call... 

[ChartBuddy]

Coin
Explanation

[Fatman3001]

ONLY for donations? Wouldn't that mean that it will be converted into fiat and thus sold?

Yeah! This is how Satoshi will dump his coins!

.. -.. .. --- -

[Fatman3001]

@cyclotronmajesty

You're still wet behind the ears and way too emotional to be day trading. Either cash out or hodl. There are plenty of tutorials and educational sites on trading that can help you get the upper hand. Do paper trading consistently and see when/if your simulated stash increases. If you hodl and sell your coins at $2500 you should be ready by then to carefully dip your toes into the shark infested waters again.

It's not free money. You have to have the upper hand.

[Monopoly]

5 days of flatlining. Except maybe that brief push 2 days ago.



Guess that's all for the weekend... no bullish trend change. If things don't change soon i'll close my long and take my losses.

 

Good choice , Take loss is better than take nothing

[ChartBuddy]

Coin
Explanation

[Monopoly]

Good Morning Doji Star!

where is this ? show on chart plz

[ranlo]

YAY it's crashing and my long is still open. Thank god it's almost over. 

if you are long, you want them to go up, right?

Nah I've already decided crypto is a shit investment. Maybe long term holding works for some but if you want a day trading experience it's expensive.

I'm not going to pull my money out though. I'd feel shame.
I will give it every chance it to redeem itself. But I'm just ready for it to end. I want it to either die hard or give me my money back ASAP. I will continue to try to "make money" fight the good fight. But really i'm tired of this game. It just looks like a ponzi scheme to me. But before I was playing computer games, at least now i've gotten a new hobby to kill time.

FYI I'm actually invested in Litecoin, I was making it not so bad back with bitcoin, and would have maybe broke even in fact, but I saw litecoin as a shortcut when it went up 4 dollars in a month.

Now Litecoin does exactly what Bitcoin does, & is not going up like it used to. That litecoin boom was and still IS a ponzi scheme. Litecoin is the shitcoin. Don't fuck with it.

But i'm a fighter so It's all or nothing for me. I'll gladly take nothing if only to move on with my life & stop wasting time circling my pathetic investment. lol.

The value to me is having learned quite a bit about economics.
Not everything, but allot more that I used to know. So i've gotten a good education, and I know the cryptocurrency thing is a dud, unless perhaps you're an experienced trader and know the market very well. There is quite a bit to learn and it's a 24/7 job.

Some Chinese turds have my money and they control the market. Chinese are the most devious people on earth. They are cunning. I live in China now, it's a "me first" greed fest from what I can tell, but then my Chinese isn't so good. Otherwise they are not such bad people. But they want money and authority with a passion, it's a nationalistic thing and unconscious passion just like everyone else.

Unless I can somehow reverse this death spiral, and which I will try, but highly doubt, I consider crypto a no-go, unless using it perhaps to transfer money in very tight periods of time.

BUT It's simply not a good investment from a layman's perspective, because it's expensive and complicated to buy, you have to go through 2 or 3 middlemen just to get it, then 2 or 3 middlemen to use it. It also depreciates allot more than it appreciates. If for example I asked my boss to pay me in bitcoin i'd be in bigger straits than with fiat.

It's just a stupid game / experiment to me. I'd never put in money I actually need to survive in this ridiculous ponzi scheme.

But I liked the idea of Bitcoin. But I kinda agree with Snowden. It's obviously flawed.

Death can be a relief. So either way i'm happy.

I await my margin call... 

If you're day-trading, it's not Bitcoin itself you should be dealing with (unless you're arbing it). You deal with altcoins and build your Bitcoin holding over time by doing that. Much more lucrative, and you can take less risky maneuvers with it.

[brg444]

It helps to think of it as a tragedy of the commons: absent of a blocksize it will eventually become in the miner's best interest to include as many transactions as possible in their blocks and consequently restricting access to governance of the network by way of bloating the blockchain.

Now, your objection (ToC) is valid in principle, that it is indeed in each of A, B, C's personal interest to include as much as possible contrary to the larger scarcity goal, but I point out that in this particular scenario, self governing is less likely to fail because (a) cooperation needs to be established only among a small group of actors (i.e. pool operators) that directly control the majority behavior, and are able to directly communicate with each other (as opposed to a large, amorphous population that usually underlies ToC type scenarios), and (b) because defection is publicly visible.

If, say, the two or three largest pools really want scarcity, they could try to cooperate, set a limit, and self-enforce it. (yes, free market lovers, that's a form of collusion). Blocksize is public, so cheating is possible but visible. If cooperation of the relevant majority fails (which I consider unlikely, as per the argument above), it makes sense to talk about voting processes and hard coded limits, but not before it has been established that this type of cooperation cannot be handled by individual actors.*

Ignoring the BIP100 voting scenario I really fail to understand your logic here.

In the outcome where the blocksize limit is lifted it doesn't matter who wants scarcity and whether or not they collaborate. As soon as the "artificial" scarcity cap is removed it enables the unlimited amount of resources competing for block creation to ignore the capacity of others and drive the creation of bigger and bigger blocks. No amount of pools or "majority" can discourage them from doing so. Their only deterrent is the orphan risk which becomes infinitely small as technology improves.

Smaller players who cannot process such large blocks will simply be driven out of the market by more resourceful actors.

[Elwar]

YAY it's crashing and my long is still open. Thank god it's almost over.  

if you are long, you want them to go up, right?

Nah I've already decided crypto is a shit investment. Maybe long term holding works for some but if you want a day trading experience it's expensive.

I'm not going to pull my money out though. I'd feel shame.
I will give it every chance it to redeem itself. But I'm just ready for it to end. I want it to either die hard or give me my money back ASAP. I will continue to try to "make money" fight the good fight. But really i'm tired of this game. It just looks like a ponzi scheme to me. But before I was playing computer games, at least now i've gotten a new hobby to kill time.

FYI I'm actually invested in Litecoin, I was making it not so bad back with bitcoin, and would have maybe broke even in fact, but I saw litecoin as a shortcut when it went up 4 dollars in a month.

Now Litecoin does exactly what Bitcoin does, & is not going up like it used to. That litecoin boom was and still IS a ponzi scheme. Litecoin is the shitcoin. Don't fuck with it.

But i'm a fighter so It's all or nothing for me. I'll gladly take nothing if only to move on with my life & stop wasting time circling my pathetic investment. lol.

The value to me is having learned quite a bit about economics.
Not everything, but allot more that I used to know. So i've gotten a good education, and I know the cryptocurrency thing is a dud, unless perhaps you're an experienced trader and know the market very well. There is quite a bit to learn and it's a 24/7 job.

Some Chinese turds have my money and they control the market. Chinese are the most devious people on earth. They are cunning. I live in China now, it's a "me first" greed fest from what I can tell, but then my Chinese isn't so good. Otherwise they are not such bad people. But they want money and authority with a passion, it's a nationalistic thing and unconscious passion just like everyone else.

Unless I can somehow reverse this death spiral, and which I will try, but highly doubt, I consider crypto a no-go, unless using it perhaps to transfer money in very tight periods of time.

BUT It's simply not a good investment from a layman's perspective, because it's expensive and complicated to buy, you have to go through 2 or 3 middlemen just to get it, then 2 or 3 middlemen to use it. It also depreciates allot more than it appreciates. If for example I asked my boss to pay me in bitcoin i'd be in bigger straits than with fiat.

It's just a stupid game / experiment to me. I'd never put in money I actually need to survive in this ridiculous ponzi scheme.

But I liked the idea of Bitcoin. But I kinda agree with Snowden. It's obviously flawed.

Death can be a relief. So either way i'm happy.

I await my margin call... 

Because you are an inexperienced day trader you believe crypto is a dud?

Perhaps you can go start day trading the stock market and find out how wonderful the stock market is. And trading on the Forex market.

There is a saying in poker. There is always one fish at the table that the experienced players will reel in and bleed dry when they come to their table. If you get to a table and don't know who the fish is...you're the fish.

Are you the one manipulating the other people putting their money into Bitcoin? If not, then you're the one being manipulated.

[ChartBuddy]

Coin
Explanation

[sAt0sHiFanClub]

In the outcome where the blocksize limit is lifted it doesn't matter who wants scarcity and whether or not they collaborate. As soon as the "artificial" scarcity cap is removed it enables the unlimited amount of resources competing for block creation to ignore the capacity of others and drive the creation of bigger and bigger blocks. No amount of pools or "majority" can discourage them from doing so. Their only deterrent is the orphan risk which becomes infinitely small as technology improves.

With the current limit of 1mb for the last 5 years, the vast majority of blocks averaged about 40% of this limit. Miners are incentivized to produce the tightest, efficient blocks  dependent upon tx's.  Its only in the last few months that tx'x are such that block sizes are tending to close on this limit.

[ChartBuddy]

Coin
Explanation

[findftp]

Good Morning Doji Star!

where is this ? show on chart plz

Last candle on the weekly.
6 hours remaining till it closes.

Kraken looks even better (BTC/EUR)
Green doji with a nice confirming volume bar.



One dollar up and bitstamp looks the same.

[nexern]

desperation level must be high if this shitty and useless barclays news is cheered so much.
a well known lifetime (money) sink now sinks your btc also and you are welcome this nonsense?

[brg444]

In the outcome where the blocksize limit is lifted it doesn't matter who wants scarcity and whether or not they collaborate. As soon as the "artificial" scarcity cap is removed it enables the unlimited amount of resources competing for block creation to ignore the capacity of others and drive the creation of bigger and bigger blocks. No amount of pools or "majority" can discourage them from doing so. Their only deterrent is the orphan risk which becomes infinitely small as technology improves.

With the current limit of 1mb for the last 5 years, the vast majority of blocks averaged about 40% of this limit. Miners are incentivized to produce the tightest, efficient blocks  dependent upon tx's.  Its only in the last few months that tx'x are such that block sizes are tending to close on this limit.

Correct observation though there are a couple reasons to explain that, mainly:

1. Connectivity: orphan risks have been a considerable issue early on as connectivity between miners, nodes was not properly optimized and propagation delays were a concern. These risks have been considerably alleviated recently by different methods and generally by more centralization between miners. Chinese miners have a indeed a tendency to produce smaller blocks because of their inherent bandwidth issues.

2. General state of the ecosystem which still hasn't fully moved out of the amateurs phase. Don't get me wrong there is now various absolutely professional mining operations being ran but there is still enormous room for hardware corporations to move in and totally run the small players out of the game. These actors will not be deterred by bigger blocks and connectivity issues.