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

[Elwar]

cui bono? Who benefits from small blocks?  Some one or group of people is stalling the scaling upgrade for reasons other than decentralization, security, etc.  From the videos of the conference, i get the idea that some is pulling strings behind the scenes to manipulate the hold outs. The technical objections seem contrived, like the arguments of a mob lawyer.

Why do the haterz hate so much? Luddites? I don't think so.  I think it's something more cynical than that. I don't think the power behind the small blockers is ideological or technical. It's political.The big blockers didn't seem to grasp that we're up against someone or group that plays dirty.  So who is it? Not the pawns on the chessboard, but the power that's moving the pieces. Who is it? Cui bono?

and that MC was painfully terrible.

It was revealed that the Bitcoin XP thing was just a ploy to implement Mike Hearn's blacklisting code. I used to support it until I saw that.

[1715060636]

1715060636

[1715060636]

1715060636

[Fatman3001]

cui bono? Who benefits from small blocks?  Some one or group of people is stalling the scaling upgrade for reasons other than decentralization, security, etc.  From the videos of the conference, i get the idea that some is pulling strings behind the scenes to manipulate the hold outs. The technical objections seem contrived, like the arguments of a mob lawyer.

Why do the haterz hate so much? Luddites? I don't think so.  I think it's something more cynical than that. I don't think the power behind the small blockers is ideological or technical. It's political.The big blockers didn't seem to grasp that we're up against someone or group that plays dirty.  So who is it? Not the pawns on the chessboard, but the power that's moving the pieces. Who is it? Cui bono?

and that MC was painfully terrible.

It was revealed that the Bitcoin X[T] thing was just a ploy to implement Mike Hearn's blacklisting code. I used to support it until I saw that.

Show me how. In what way?

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[Elwar]

cui bono? Who benefits from small blocks?  Some one or group of people is stalling the scaling upgrade for reasons other than decentralization, security, etc.  From the videos of the conference, i get the idea that some is pulling strings behind the scenes to manipulate the hold outs. The technical objections seem contrived, like the arguments of a mob lawyer.

Why do the haterz hate so much? Luddites? I don't think so.  I think it's something more cynical than that. I don't think the power behind the small blockers is ideological or technical. It's political.The big blockers didn't seem to grasp that we're up against someone or group that plays dirty.  So who is it? Not the pawns on the chessboard, but the power that's moving the pieces. Who is it? Cui bono?

and that MC was painfully terrible.

It was revealed that the Bitcoin X[T] thing was just a ploy to implement Mike Hearn's blacklisting code. I used to support it until I saw that.

Show me how. In what way?

From the commit here:
https://github.com/bitcoinxt/bitcoinxt/commit/73c9efe74c5cc8faea9c2b2c785a2f5b68aa4c23

The Bitcoin client which is supposed to be peer to peer, anonymous, decentralized, calls this line (open a connection to a centralized URL which can be manipulated):

+data = urllib2.urlopen("https://check.torproject.org/exit-addresses").read()

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010379.html

Bitcoin XT contains an unmentioned addition which periodically downloads
lists of Tor IP addresses for blacklisting, this has considerable privacy
implications for hapless users which are being prompted to use the
software. The feature is not clearly described, is enabled by default,
and has a switch name which intentionally downplays what it is doing
(disableipprio). Furthermore these claimed anti-DoS measures are
trivially bypassed and so offer absolutely no protection whatsoever.

Connections are made over clearnet even when using a proxy or
onlynet=tor, which leaks connections on the P2P network with the real
location of the node. Knowledge of this traffic along with uptime metrics
from bitnodes.io can allow observers to easily correlate the location and
identity of persons running Bitcoin nodes. Denial of service can also be
used to crash and force a restart of an interesting node, which will
cause them to make a new request to the blacklist endpoint via the
clearnet on relaunch at the same time their P2P connections are made
through a proxy. Requests to the blacklisting URL also use a custom
Bitcoin XT user agent which makes users distinct from other internet
traffic if you have access to the endpoints logs.

[wonkytonky]

What is this for?

The posts from chartbuddy (a bot) show the bids and asks various exchanges. Some traders believe that the position and size of the "walls" (large bids/asks) give insight into how the BTC/USD (the dollar price of BTC) will change in the immediate future.

This thread is for discussing these walls. In theory. In practice, discussions tend to be much wider-ranging than that!

one should ignore walls imho.. first mistake i made 4 years ago.; is watching walls and orderbook.. 

[Elwar]

Will Fed hike the rate today? (I don't think so).

And will the outcome be relevant to bitcoin price? How?

Yes, the fed IS raising the federal interest rate today.
I was told by a higher-up from one of the big 4 yesterday evening.

[LMGTFY]

one should ignore walls imho.. first mistake i made 4 years ago.; is watching walls and orderbook.. 

Yeah, I tend to watch three exchanges (right now it's OKCoin (CNY), finex and stamp (USD)), and the first thing anyone would notice is that the walls are in different places. It ain't real until it's real: trades are real, walls are at best "an expression of intent that can change at any moment".

[LFC_Bitcoin]

Coin
Explanation

Little positive price movement but nothing to get excited about. We were at 228 earlier in the week so at lesst it looks like there might be a new bottom or maybe hidden support.

[Fatman3001]

cui bono? Who benefits from small blocks?  Some one or group of people is stalling the scaling upgrade for reasons other than decentralization, security, etc.  From the videos of the conference, i get the idea that some is pulling strings behind the scenes to manipulate the hold outs. The technical objections seem contrived, like the arguments of a mob lawyer.

Why do the haterz hate so much? Luddites? I don't think so.  I think it's something more cynical than that. I don't think the power behind the small blockers is ideological or technical. It's political.The big blockers didn't seem to grasp that we're up against someone or group that plays dirty.  So who is it? Not the pawns on the chessboard, but the power that's moving the pieces. Who is it? Cui bono?

and that MC was painfully terrible.

It was revealed that the Bitcoin X[T] thing was just a ploy to implement Mike Hearn's blacklisting code. I used to support it until I saw that.

Show me how. In what way?

From the commit here:
https://github.com/bitcoinxt/bitcoinxt/commit/73c9efe74c5cc8faea9c2b2c785a2f5b68aa4c23

The Bitcoin client which is supposed to be peer to peer, anonymous, decentralized, calls this line (open a connection to a centralized URL which can be manipulated):

+data = urllib2.urlopen("https://check.torproject.org/exit-addresses").read()

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010379.html

Bitcoin XT contains an unmentioned addition which periodically downloads
lists of Tor IP addresses for blacklisting, this has considerable privacy
implications for hapless users which are being prompted to use the
software. The feature is not clearly described, is enabled by default,
and has a switch name which intentionally downplays what it is doing
(disableipprio). Furthermore these claimed anti-DoS measures are
trivially bypassed and so offer absolutely no protection whatsoever.

Connections are made over clearnet even when using a proxy or
onlynet=tor, which leaks connections on the P2P network with the real
location of the node. Knowledge of this traffic along with uptime metrics
from bitnodes.io can allow observers to easily correlate the location and
identity of persons running Bitcoin nodes. Denial of service can also be
used to crash and force a restart of an interesting node, which will
cause them to make a new request to the blacklist endpoint via the
clearnet on relaunch at the same time their P2P connections are made
through a proxy. Requests to the blacklisting URL also use a custom
Bitcoin XT user agent which makes users distinct from other internet
traffic if you have access to the endpoints logs.

I thought the blacklisted ip-addresses simply got a lower connection priority which would only be relevant in case of a system wide dos attack. I understand there might be some weaknesses to this approach but I get the feeling a lot of this is blown out of proportion.

[Elwar]

Nice, you can now use bitcoins to pay for Uber.

http://cointelegraph.com/news/115291/uber-with-bitcoin-now-possible-heres-how

[Teppino]

I happened to notice a single 12'000 BTC trade on OKCoin.  And the price dropped by 0.10 yuan.  Weird.

Happened again, up to 30k in volume with no high frequency trading involved. weird indeed.

I wonder why people love to discuss over fantasy charts and yet those kind of happenings go by almost unnoticed


 

[vgo]

Volume: 12324 BTC - 1 min., 235$/BTC = 2896140 usd. margin 0.1 cny. (  0.02 usd.).

Good job OkCoin!!

[ChartBuddy]

Coin
Explanation

[spiderbrain]

Thanks for the info, sounds super dodgy.

cui bono? Who benefits from small blocks?  Some one or group of people is stalling the scaling upgrade for reasons other than decentralization, security, etc.  From the videos of the conference, i get the idea that some is pulling strings behind the scenes to manipulate the hold outs. The technical objections seem contrived, like the arguments of a mob lawyer.

Why do the haterz hate so much? Luddites? I don't think so.  I think it's something more cynical than that. I don't think the power behind the small blockers is ideological or technical. It's political.The big blockers didn't seem to grasp that we're up against someone or group that plays dirty.  So who is it? Not the pawns on the chessboard, but the power that's moving the pieces. Who is it? Cui bono?

and that MC was painfully terrible.

It was revealed that the Bitcoin X[T] thing was just a ploy to implement Mike Hearn's blacklisting code. I used to support it until I saw that.

Show me how. In what way?

From the commit here:
https://github.com/bitcoinxt/bitcoinxt/commit/73c9efe74c5cc8faea9c2b2c785a2f5b68aa4c23

The Bitcoin client which is supposed to be peer to peer, anonymous, decentralized, calls this line (open a connection to a centralized URL which can be manipulated):

+data = urllib2.urlopen("https://check.torproject.org/exit-addresses").read()

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/010379.html

Bitcoin XT contains an unmentioned addition which periodically downloads
lists of Tor IP addresses for blacklisting, this has considerable privacy
implications for hapless users which are being prompted to use the
software. The feature is not clearly described, is enabled by default,
and has a switch name which intentionally downplays what it is doing
(disableipprio). Furthermore these claimed anti-DoS measures are
trivially bypassed and so offer absolutely no protection whatsoever.

Connections are made over clearnet even when using a proxy or
onlynet=tor, which leaks connections on the P2P network with the real
location of the node. Knowledge of this traffic along with uptime metrics
from bitnodes.io can allow observers to easily correlate the location and
identity of persons running Bitcoin nodes. Denial of service can also be
used to crash and force a restart of an interesting node, which will
cause them to make a new request to the blacklist endpoint via the
clearnet on relaunch at the same time their P2P connections are made
through a proxy. Requests to the blacklisting URL also use a custom
Bitcoin XT user agent which makes users distinct from other internet
traffic if you have access to the endpoints logs.

[ChartBuddy]

Coin
Explanation

[DeathAngel]

Coin
Explanation

Boring price movement. Will we ever get over 300 again, sick of this bear market.

[ChartBuddy]

Coin
Explanation

[ChartBuddy]

Coin
Explanation

[TReano]

So can we finally dump to sub 200$?

There is obviously nobody interested to push this to 300...