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

[TERA]

Over the rally from $350 to $425, the bid walls on bfx steadily grew from 35k to 41k. Now suddenly they are down to 31k. Speculations?

Welcome back!  My guess is there is hidden support the bid walls don't show and we're going to push higher, but I'm not confident enough to go farther long.

I really missed you. What's your take on the blocksize controversy?

Thanks.

I'm guessing that all of the whales on bfx make heavy use of the hidden order feature and that feature didn't exist on gox?

I haven't been back long enough to look into the blocksize issue and give an educated opinion. This is actually my first day back on the forum and I've only been watching btc for 2 weeks ever since a relative brought up some news article at the Thanksgiving table. This has mostly consisted of me staring at the charts and orders books on 1minute timeframe like a deer in the headlights. I really want to get a feeling for the current exchange landscape before I start trading again, if I start trading again. I'm not sure if I even trust the exchanges anymore or if I should just keep my coins on cold storage.

I've always known btc had a lot of technical quirks that require either a fork or the continuation of Moore's law or both. The blocksize of all things, at first impression, seems like one of the more minor issues that could be solved with some kind of fork.

[1714472534]

1714472534

[suda123]

here comes Mike Hearn's little free shit peed-in-my-pants panic derp army ... sheesh, when will you guys ever get half a clue?  

or how about posting some code to gihub with unit tests, math, simulations and well-reasoned arguments? ... nup, just we duh wunt mah-big-blocks massah.

Hearn and Gavin already did that.
got my XT node up and running. It should have the whole chain downloaded by the time I get home from work.

Will Mike have time to maintain it after signing with r3cv? Did gavin take the reins?

I'm not against alternate implementations, but you must admit that core is a pretty competent group. A patched version of core with almost zero mining support is not going to happen. I guess it is a "vote" of sorts.

does this mean r3 is bitcoin ? -w-

[billyjoeallen]

I've always known btc had a lot of technical quirks that require either a fork or the continuation of Moore's law or both. The blocksize of all things, at first impression, seems like one of the more minor issues that could be solved with some kind of fork.

You'd think so, wouldn't you? The problem is that there is ideological as well as technical reasons both for and against any scaling solution/change. There isn't anything close to a consensus and network traffic keeps growing.  Some are even hoping to overload the network in order to create a market for xaction fees. IMHO, that's madness that could catastrophically retard growth and adoption. 

It's just a huge uncertainty that is difficult to price in.   

[ChartBuddy]

Coin



Explanation

[spooderman]

welcome back TERA

[600watt]

How big would Facebook or Google be if they tried to sell advertising their first year?  Smallblockers want to monetize too early, before we really even get off the ground. It's short-sighted.

We need new users now, fees later. Much later. 

sounds plausible.

[Mervyn_Pumpkinhead]

It seems like FOMO influenced just enough people to start moving down again.

[Cconvert2G36]

Holding these heights for a day or two more would paint a pretty picture compared to the skittish euphoria of the 504 spike.

[SnokkomBTC]

Holding these heights for a day or two more would paint a pretty picture compared to the skittish euphoria of the 504 spike.

'
Gentlemen?

[Cconvert2G36]

Gentlemen?

I hereby call that when Jay Juan Gee hits his first dollar in gains... it is grentlemen.

[ChartBuddy]

Coin



Explanation

[Fatman3001]

I wonder if SW would even be considered if core hadn't invested their egos (and more) in not allowing a blocksize increase.

[ChartBuddy]

Coin



Explanation

[Spaceman_Spiff]

welcome back TERA

Despite the fact that rationally I should be unhappy at seeing good traders enter the competition, it's good to see you back man ! 

[ChartBuddy]

Coin



Explanation

[oda.krell]

So do we still observe walls here?  It's so hard to watch them on bfx with them moving around,  hiding,  and jumping up and down every 2 seconds like there's some broken api. The only consistent thing I see is that little wall at 300 and even that would be like a joke at gox.

Never saw much of a point in looking at the raw walls (except for calculating expected slippage). What's wrong with a smoothed out view, say bid/ask sums, averaged over 6h to 1d, possibly in relation to the price at the time? Contains all the manipulation of the order book and adds a big delay -- what's not to like?

Mike Hearn's little free shit peed-in-my-pants [snip]

Way to ruin a pretty decent reputation you had here.

I'm getting the impression that an emerging bull market isn't exactly a good influence on your ego. I'm half expecting risto to drop by any moment now, posting about his latest renovation projects.

[r0ach]

It seems like FOMO influenced just enough people to start moving down again.

[marcus_of_augustus]

I'm getting the impression that an emerging bull market isn't exactly a good influence on your ego. I'm half expecting risto to drop by any moment now, posting about his latest renovation projects.

in quite the judgemental mood today are we? ... do you mean the emerging bull market since 2010 that you missed the largest part of ... or something more recent?

[Fatman3001]

Mike Hearn's little free shit peed-in-my-pants [snip]

Way to ruin a pretty decent reputation you had here.

I'm getting the impression that an emerging bull market isn't exactly a good influence on your ego. I'm half expecting risto to drop by any moment now, posting about his latest renovation projects.

Not to mention this little nugget.

... nup, just we duh wunt mah-big-blocks massah.

I know I'm going to be accused of being too PC, but the more I look at it the more problematic it looks.

[ChartBuddy]

Coin



Explanation