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

[!! pop]

Me too. If we start using bitcoin like real money, other people might get the wrong idea and start using it like money, and then where would we be?

of course. cause everyone knows money burns a fucking hole through your pocket and you absolutely HAVE to spend it. Right?

Hell no! I never spend my money, not on frivolities like lunch I don't.
My money is mine.
To HAVE.

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[gentlemand]

Hell no! I never spend my money, not on frivolities like lunch I don't.

When my grandpappy raised me in the Deep South he drummed it into me to think of eating as not frivolous. Our family has a tragic history of loved ones forgetting to eat and passing away. If I remember to keep eating I'll pass on the same wisdom to my future kinfolk.

[billyjoeallen]

Rough Consensus Attack:

Now, let's assume the attacker is pissed at this.  And takes it's
attitudinal inspiration from Hollywood, or other enlightened sources
like NYT on how to retaliate in cyberwar (OPM, anyone?)

• .  Which is

to say, it decides to fight back.  Game on.

How to fight back seems easy to say:  Stop the group from launching its
protocol.  How?

It turns out that there is a really nice attack.  If the group has a
protocol in mind, then all the attacker has to do is:

   a) suggest a new alternate protocol.
   b) balance the group so that there is disagreement, roughly evenly
balanced between the original and the challenger.

Suggesting an alternate is really easy - as we know there are dozens of
prototypes out there, just gotta pick one that's sufficiently different.
  In this case I can think of 3 others without trying, and 6 people on
this group could design 1 in a month.

Balancing the group is just a matter of phone calls and resources.  Call
in favours.  So many people out there who would love to pop in and utter
an opinion.  So many friends of friends, willing to strut their stuff.



Because of the rules of rough consensus, if a rough balance is
preserved, then it stops all forward movement.  This is a beautiful
attack.  If the original side gets disgusted and walks, the attacker can
simply come up with a new challenger.  If the original team quietens
down, the challenger can quieten down too - it doesn't want to win, it
wants to preserve the conflict.

The attack can't even be called, because all contributors are doing is
uttering an opinion as they would if asked.  The attack simply uses the
time-tested rules which the project is convinced are the only way to do
these things.



The only defence I can see is to drop rough consensus.  By offering
rough consensus, it's almost a gilt-edged invitation to the attacker.
The attacker isn't so stupid as to not use it.

http://www.metzdowd.com/pipermail/cryptography/2015-August/026151.html

I am convinced this deadlock on blocksize is intentional. What I don't know is who is behind it or why.

[Fatman3001]

Hell no! I never spend my money, not on frivolities like lunch I don't.

When my grandpappy raised me in the Deep South he drummed it into me to think of eating as not frivolous. Our family has a tragic history of loved ones forgetting to eat and passing away. If I remember to keep eating I'll pass on the same wisdom to my future kinfolk.

Mmmmm....eating kinfolk.

[ChartBuddy]

Coin
Explanation

[Fatov]

Exchanges with >1M$ Volume

#   Source                   Pair           Volume (24h)   
1   Bitstamp                 BTC/USD   $ 5,427,600   $   
2   Coinbase Exchange   BTC/USD   $ 2,371,760   $   
3   Bitfinex                  BTC/USD   $ 2,133,920   $   
4   LakeBTC                 BTC/USD   $ 1,678,920   $   
5   OkCoin Intl.               BTC/USD   $ 1,598,570   $   
6   BTC-E                    BTC/USD   $ 1,333,900   $   
7   BIT-X                     BTC/USD   $ 1,141,290   $   

[julian071]

Where TF is my buy the rumor, sell the news pump-n-dump action?? I was planning to sell all my BTC right before the opening of Gemini and then buy back cheaper! This going sideways-nonsense is getting out of hand!!

[Richy_T]

Hell no! I never spend my money, not on frivolities like lunch I don't.

When my grandpappy raised me in the Deep South he drummed it into me to think of eating as not frivolous. Our family has a tragic history of loved ones forgetting to eat and passing away. If I remember to keep eating I'll pass on the same wisdom to my future kinfolk.

Mmmmm....eating kinfolk.

AKA Kentucky love.

[ChartBuddy]

Coin
Explanation

[JayJuanGee]

Where TF is my buy the rumor, sell the news pump-n-dump action?? I was planning to sell all my BTC right before the opening of Gemini and then buy back cheaper! This going sideways-nonsense is getting out of hand!!

GREAT IDEAR!!   

First, sell your considerable stash of .5BTC

Second, after you sell, then possibly others will follow and the sell off will begin to happen

On the other hand, maybe Third:  you can buy back in a week at $300-ish... hahahahaha

Fourth, if you are feeling a bit uncertain about the price direction, then you can sell again when when BTC prices drop to $280-ish.  

You'll be doing real favors for the BTC economy, and some of us who want to accumulate more BTC.  

[adamstgBit]

Where TF is my buy the rumor, sell the news pump-n-dump action?? I was planning to sell all my BTC right before the opening of Gemini and then buy back cheaper! This going sideways-nonsense is getting out of hand!!

this is bitcoin, buy the possibility of a rumor sell once the rumor is created and known to mostly everyone, buy back when everyone else attempts to sell the news and wait for the next rumor. 

[julian071]

Where TF is my buy the rumor, sell the news pump-n-dump action?? I was planning to sell all my BTC right before the opening of Gemini and then buy back cheaper! This going sideways-nonsense is getting out of hand!!

GREAT IDEAR!!   

First, sell your considerable stash of .5BTC

Second, after you sell, then possibly others will follow and the sell off will begin to happen

On the other hand, maybe Third:  you can buy back in a week at $300-ish... hahahahaha

Fourth, if you are feeling a bit uncertain about the price direction, then you can sell again when when BTC prices drop to $280-ish.  

You'll be doing real favors for the BTC economy, and some of us who want to accumulate more BTC.  

FINALLY some solid advice in a thread were predictions somehow never come true more then 50% of the time... Thank you good sir for your time and wisdom.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

The Northern Lights are insane today. This one is from yesterday. Today it's even better.

[gentlemand]

The Northern Lights are insane today. This one is from yesterday. Today it's even better.

That looks incredible. Where do you live?

[Fatman3001]

The Northern Lights are insane today. This one is from yesterday. Today it's even better.

That looks incredible. Where do you live?

Tromsø, Northern Norway

[JayJuanGee]

Where TF is my buy the rumor, sell the news pump-n-dump action?? I was planning to sell all my BTC right before the opening of Gemini and then buy back cheaper! This going sideways-nonsense is getting out of hand!!

GREAT IDEAR!!   

First, sell your considerable stash of .5BTC

Second, after you sell, then possibly others will follow and the sell off will begin to happen

On the other hand, maybe Third:  you can buy back in a week at $300-ish... hahahahaha

Fourth, if you are feeling a bit uncertain about the price direction, then you can sell again when when BTC prices drop to $280-ish.  

You'll be doing real favors for the BTC economy, and some of us who want to accumulate more BTC.  

FINALLY some solid advice in a thread were predictions somehow never come true more then 50% of the time... Thank you good sir for your time and wisdom.

And thank you sir, for your contributions to the bitcoin humor space.   

[ChartBuddy]

Coin
Explanation

[BitChick]

The Northern Lights are insane today. This one is from yesterday. Today it's even better.

That looks incredible. Where do you live?

Tromsø, Northern Norway

Beautiful!  I would love to see them someday.  

[JayJuanGee]

Exchanges with >1M$ Volume

#   Source                   Pair           Volume (24h)   
1   Bitstamp                 BTC/USD   $ 5,427,600   $   
2   Coinbase Exchange   BTC/USD   $ 2,371,760   $   
3   Bitfinex                  BTC/USD   $ 2,133,920   $   
4   LakeBTC                 BTC/USD   $ 1,678,920   $   
5   OkCoin Intl.               BTC/USD   $ 1,598,570   $   
6   BTC-E                    BTC/USD   $ 1,333,900   $   
7   BIT-X                     BTC/USD   $ 1,141,290   $   

I know that in various BTC discussion threads we tend to use Bitstamp as our reference point - more or less serving as the most credible large exchange.

Yes, it nearly lost some of its credibility last year when it suffered from some of the asserted attacks and flaws in its system (that it asserted to have corrected). 

Anyhow, it does seem that in the last few weeks Bitstamp may have picked up some of Bitfinex's trade volume.