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

[ssmc2]

https://bitcoinmagazine.com/21962/ibm-developing-blockchain-without-bitcoin-record-keeping-smart-contracts/

Therefore, it appears that IBM wants to go one step beyond the now fashionable concept of permissioned blockchains, where only approved financial operators and governments are allowed to validate transactions, and implement a blockchain without a native crypto-currency, to be used only for record-keeping and smart contracts.

It’s unclear, however, how IMB plans to achieve operational robustness and scalability without crowd-sourcing the operations of the blockchain to properly incentivized miners.

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[ChartBuddy]

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[aztecminer]

an entire week.... on the bright side bitfinex did not collapse yet... those guys are hardcore.

[Cconvert2G36]

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[Meuh6879]

ah fuck ... i love this.   

[ChartBuddy]

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[ChartBuddy]

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[BayAreaCoins]

Is it looking like we are headed to $250 yet?

[BlindMayorBitcorn]

Bitcoin has stabilized permanently.

Crashing from $1200 to $10 is impossible indiscriminately ......... so Btc needs some times to rest For finishing it's mission ..........

What is the mission?

Should you choose to accept it:

[grahvity]

Maybe I'm late for the party. But have you seen this?

https://www.youtube.com/watch?v=Xpw7b-zsnKw

He had a bigger hit with a song about his favourite bitch or something. No idea why he's named Bitcoin though.

Priceless https://youtube.com/watch?v=6P2FB9Mg_YI

[BlindMayorBitcorn]

^This really brings me back

[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

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[ChartBuddy]

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[Chef Ramsay]

Just summoning the honey badger at this point. Save the pics, we need and want the real thing at this point. Seems like the badger does care at this barfable time, so he/she stays out of sight during these times. Time to go down and then an epic upward trajectory in a fashion never before seen. Get your bull on and buy like a frenzy situation later next week. If you're a single parent, just keep the gub checks to stay above water as you're not ready for the rise when your stake is poop... That's right I said it! Let the chumps fart and the responsible shall survive and thrive w/ their excess money at this  majik moment,while making untold fortunes as time goes forward and the volatility roars.

[ChartBuddy]

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[Cconvert2G36]

Just summoning the honey badger at this point. Save the pics, we need and want the real thing at this point. Seems like the badger does care at this barfable time, so he/she stays out of sight during these times. Time to go down and then an epic upward trajectory in a fashion never before seen. Get your bull on and buy like a frenzy situation later next week. If you're a single parent, just keep the gub checks to stay above water as you're not ready for the rise when your stake is poop... That's right I said it! Let the chumps fart and the responsible shall survive and thrive w/ their excess money at this  majik moment,while making untold fortunes as time goes forward and the volatility roars.

[Cconvert2G36]

Then we both agreed that if it's literally just miners vs. users then miners stand no chance.

I agree that if CartelCoin is rejected by practically all users (including new future ones who would buy their first bitcoins after the fork), then it will be worthless. Of course. If the whole world reject gold and prefers copper, then gold will be worthless and copper will get gold's market cap.

What I don't agree, at all, is that such situation will occur automatically if the Cartel tries to push for a change, and the Core devs then post an update that renders all ASICs useless. No, I do not believe that the vast majority of the users will automatically follow the devs and reject the Cartel.

It would have to be a really stupid change to cause such total rejection (like, say, confiscate all existing bitcoins and give them to the Cartel). Obviously the cartel will not push for such changes. The change that I gave as an example -- postpone the next halving by 2 years, then speed up the following ones -- is the sort of thing that they could try. Or they could simply set a minimu fee of 0.20 USD/tx + 0.5% of the output value (they would not even have to do a fork for that).
My point is that most users and businesses will not consider such a change reason enough to dump or forget their CartelCoins and switch to RebelCoin. CartelCoin differs from the old Bitcoin by a minor invisible change; RebelCoin is drastic change, that includes loss of the mining infrastructure. Try explaining to the press and Wall Street that RebelCoin, not CartelCoin, is the true bitcoin.

For one thing, the miners obviously wil not switch to RebelCoin, and will do whatever they can to kill it. The Swedish ETN, fed by KnC, will not switch; the Chinese exchanges, who own the largest miners, will not switch (but may let their clients dump or withdraw the RebelCoins, crashing their price in China). Those already are enough to support a nonzero value to the CartelCoin. So, at best, only part of the bitcoin user and business base will see RebelCoin as the true and only bitcoin.
This belief of mine is not based on science or math, but just on my experience of how people react to such situations. If you don't see that, I don't know how I could convince you.

It's puff, puff, pass stolfi. 

[ChartBuddy]

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