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

[billyjoeallen]

...snip ... blah-de-blah bear rant ... snip

So Internet money, not the Internet of money.  This is a mutiny. Imagine what would happen if the Federal Reserve Board of Directors staged a mutiny like that against Janet Yellen. How would the markets react?

so still short then?

I closed that bitch. Sitting in sweet cash, Baby! Lent it out to bulls earning vig.

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[JayJuanGee]

You smallblock cripplecoiners don't get it. I can't lose. If the price goes down, it's a market rejection of your vision. If it goes up, I can sell. I don't have to buy another single bitcoin now. 

Whenever something sells on Bitquick, I can rebuy with my trading account cash on BFX. When that runs out, I'll start selling from cold storage. I can sell for a looooong time before I run out. I got your asses. 

Why not just hurry the fuck up and stop making excuses to troll us with your bullshit broken record. 

Sell your BTC and get the fuck out of here.  What good are you doing anyone whining and complaining with your feigned bitterness and ongoing assertions of self-righteousness.

It's getting a bit old.... but I suppose that is the point of the more subtle trolls to annoy about quasi-irrelevant topics.

[Hyperjacked]

Shorts might want to start covering...go slow ...Just a heads up!

Don't say I 'm not a nice kind hearted troll... Tonight I celebrate!!!

sometimes I throw a bone...and a cup of coffee to da homeless!

[billyjoeallen]

You smallblock cripplecoiners don't get it. I can't lose. If the price goes down, it's a market rejection of your vision. If it goes up, I can sell. I don't have to buy another single bitcoin now. 

Whenever something sells on Bitquick, I can rebuy with my trading account cash on BFX. When that runs out, I'll start selling from cold storage. I can sell for a looooong time before I run out. I got your asses. 

Why not just hurry the fuck up and stop making excuses to troll us with your bullshit broken record. 

Sell your BTC and get the fuck out of here.  What good are you doing anyone whining and complaining with your feigned bitterness and ongoing assertions of self-righteousness.

It's getting a bit old.... but I suppose that is the point of the more subtle trolls to annoy about quasi-irrelevant topics.

I earned the right to be here, Pal. Not everyone who tells you things you don't want to hear is your enemy.

[marcus_of_augustus]

You smallblock cripplecoiners don't get it. I can't lose. If the price goes down, it's a market rejection of your vision. If it goes up, I can sell. I don't have to buy another single bitcoin now. 

Whenever something sells on Bitquick, I can rebuy with my trading account cash on BFX. When that runs out, I'll start selling from cold storage. I can sell for a looooong time before I run out. I got your asses. 

Why not just hurry the fuck up and stop making excuses to troll us with your bullshit broken record. 

Sell your BTC and get the fuck out of here.  What good are you doing anyone whining and complaining with your feigned bitterness and ongoing assertions of self-righteousness.

It's getting a bit old.... but I suppose that is the point of the more subtle trolls to annoy about quasi-irrelevant topics.

I earned the right to be here, Pal. Not everyone who tells you things you don't want to hear is your enemy.

I'm not sure that the big-blocks-yesterday camp has any bullets left except to hang around as a vindictive, toxic remnant to a settled debate. In fact, if they are not going to go forward with the technical consensus then they probably should be seen as external actors actively looking to destablise and hinder bitcoin's progress.

When the herd is heading towards you either get out of the way or start running in their direction.

Get on board or get out of the way.

[billyjoeallen]

You smallblock cripplecoiners don't get it. I can't lose. If the price goes down, it's a market rejection of your vision. If it goes up, I can sell. I don't have to buy another single bitcoin now. 

Whenever something sells on Bitquick, I can rebuy with my trading account cash on BFX. When that runs out, I'll start selling from cold storage. I can sell for a looooong time before I run out. I got your asses. 

Why not just hurry the fuck up and stop making excuses to troll us with your bullshit broken record. 

Sell your BTC and get the fuck out of here.  What good are you doing anyone whining and complaining with your feigned bitterness and ongoing assertions of self-righteousness.

It's getting a bit old.... but I suppose that is the point of the more subtle trolls to annoy about quasi-irrelevant topics.

I earned the right to be here, Pal. Not everyone who tells you things you don't want to hear is your enemy.

I'm not sure that the big-blocks-yesterday camp has any bullets left except to hang around as a vindictive, toxic remnant to a settled debate. In fact, if they are not going to go forward with the technical consensus then they probably should be seen as external actors actively looking to destablise and hinder bitcoin's progress.

When the herd is heading towards you either get out of the way or start running in their direction.

Get on board or get out of the way.

I've been on board for four and a half years. I'm not bitter at all. Pump it all you want. More money for me, Holmes. But with that 2-4-8 plan, i don't see how you can stop Bitcoin being used for non-cash purposes.   

[Hyperjacked]

You smallblock cripplecoiners don't get it. I can't lose. If the price goes down, it's a market rejection of your vision. If it goes up, I can sell. I don't have to buy another single bitcoin now. 

Whenever something sells on Bitquick, I can rebuy with my trading account cash on BFX. When that runs out, I'll start selling from cold storage. I can sell for a looooong time before I run out. I got your asses. 

Why not just hurry the fuck up and stop making excuses to troll us with your bullshit broken record. 

Sell your BTC and get the fuck out of here.  What good are you doing anyone whining and complaining with your feigned bitterness and ongoing assertions of self-righteousness.

It's getting a bit old.... but I suppose that is the point of the more subtle trolls to annoy about quasi-irrelevant topics.

I earned the right to be here, Pal. Not everyone who tells you things you don't want to hear is your enemy.

I'm not sure that the big-blocks-yesterday camp has any bullets left except to hang around as a vindictive, toxic remnant to a settled debate. In fact, if they are not going to go forward with the technical consensus then they probably should be seen as external actors actively looking to destablise and hinder bitcoin's progress.

When the herd is heading towards you either get out of the way or start running in their direction.

Get on board or get out of the way.

I've been on board for four and a half years. I'm not bitter at all. Pump it all you want. More money for me, Holmes. But with that 2-4-8 plan, i don't see how you can stop Bitcoin being used for non-cash purposes.   

PPL should not underestimate the funds that the long term BTC investors have on the sidelines and can invest at a moments notice! The BTC market cap is small in the world of giants...The pros are patient!

Disclaimer:Triple tax exempt Muni's are boring...

[JayJuanGee]

Monkey vision:  Drop towards 390 support intraday, rising trend to continue thereafter on a daily basis, and over the weekend.

You know this is wrong

Monkey now sees at least one week downtrend, 362 support.

Sounds like monkey must have not gotten the memo, or maybe monkey was too busy eating bananas rather than buying BTC back last month when he had several opportunities... or maybe monkey failed to accumulate BTC during a large majority of 2015 while BTC prices were mostly below $300?     

[JayJuanGee]

@BJA Tim Swanson wrote a paper about how adding exogenous value onto a network that cannot detect and dynamically protect the exogenous value is a bad idea. It was hard to disagree.

The metacoins and colored coin projects listed above unquestionably increase the social value
of the chain, yet they do not proportionally incentivize security beyond the existing block
reward (seigniorage) subsidy.  This could lead to an economic incentive to attack the chain, a
type of fat tail risk that could dramatically impact any layer residing on top of the Bitcoin
network.

The network is ridiculously oversecure for it's current market cap.  How many goddamn exaflops or whatever?

You might be able to snow the noobs with technobabble but I've been around too long. I'm not buying.

Security is the most important feature. Without a block subsidy today the Bitcoin network would be extremely insecure. The subsidy is going to go away. I want Bitcoin to work long term. It doesnt seem that those that want to increase the block size want that....

You don't overinsure a house for fire damage. It's called "moral hazard" and it makes the house statistically MORE likely to burn.  You don't put a $1000 case ona $100 phone. It means someone will be MORE likely to steal it. If you put too much armor on an armored truck, you limit it's cargo capacity to the point that you have to make two trips INCREASING the chance of losing the cargo. There IS such a thing as too much security.

Sometimes you make really out of touch assertions.


Why the fuck is bitcoin "over" secure?  it's to support a higher priced market cap, both anticipated and likely to happen.  Therefore, when BTC's market cap reaches $200 billion (that is about $15,000 per BTC), then the computing power is going to be able to sustain security for those potential and likely attacks.

In other words, BTC's computing power and/or security is likely already in a position to support a $10k btc, and probably a lot more - which really means that you should be preparing your moon boots, rather than coming up with lame and misfitting analogies.

[Cconvert2G36]

-snip-
Get on board or get out of the way.

salt..

This denigration of signatures represents nothing less than an attack on the primacy of cryptography in cryptocurrency. The blockchain represents a complete and verifiable historical record of every transaction and balance in Bitcoin. Attacking verifiability by lopping off signatures in a misguided effort to cram more transactions into a megabyte. This leaves a eunuch which is no longer the virile Bitcoin we love. As signatures fade into history, cryptographic certainty is replaced by faith and hope.

Ultimately, it is about increasing the number of places where Bitcoin can break and reducing the prominence of cryptography in cryptocurrency.

http://qntra.net/2015/12/after-xt-failure-gavin-andresen-supports-jim-crow-for-signatures-on-the-blockchain/


and pepper... http://trilema.com/2015/theres-a-one-bitcoin-reward-for-the-death-of-pieter-wuille-details-below/

But at least you understand that BIP101 will increase the risk of centralization. However for SW proposal, I totally don't understand anything at all: By changing the bitcoin architecture, Pieter essentially change it to something else, an alt-coin. So all the talks about SW should go into alt-coin section, not here. And all this large degree of deviation from Satoshi's original design for what? A mere one time increase for capacity of light nodes, not even helping full nodes?

I've been quite surprised by your reaction to this proposal.

It's as if you're being intentionally obtuse because clearly you are making no effort at understanding SW and overexagerate its complexity.

Whether or not you agree with its motivations and underlying ideology SW is pretty straight forward.

straight forward in cutting out the cryptographic signatures out of the blockchain... to allow more spam.

thank you but no thank you.

forkers should create their own altcoin already.

Bye hdbuck and Mircea Popescu! The technical consens-o-tron bids you farewell! 

[marcus_of_augustus]

http://www.coindesk.com/big-banks-blockchains-wrong-2015/

this a good cynical look at all the hype around the year that was in the BankChain space ... have always maintained they need their own sub in Altcoin section.

[Hyperjacked]

Monkey vision:  Drop towards 390 support intraday, rising trend to continue thereafter on a daily basis, and over the weekend.

You know this is wrong

Monkey now sees at least one week downtrend, 362 support.

Sounds like monkey must have not gotten the memo, or maybe monkey was too busy eating bananas rather than buying BTC back last month when he had several opportunities... or maybe monkey failed to accumulate BTC during a large majority of 2015 while BTC prices were mostly below $300?     

Monkey needs to lay down the crack pipe and get the "monkey" off his back...

wait..."who is Monkey"?

[billyjoeallen]

From my understanding, there is going to be an intentional wait until blocks are full before there will be any increase in capacity so the fee market can develop. That will be interesting. 

Getting popcorn.

[JayJuanGee]

You smallblock cripplecoiners don't get it. I can't lose. If the price goes down, it's a market rejection of your vision. If it goes up, I can sell. I don't have to buy another single bitcoin now. 

Whenever something sells on Bitquick, I can rebuy with my trading account cash on BFX. When that runs out, I'll start selling from cold storage. I can sell for a looooong time before I run out. I got your asses. 

Why not just hurry the fuck up and stop making excuses to troll us with your bullshit broken record. 

Sell your BTC and get the fuck out of here.  What good are you doing anyone whining and complaining with your feigned bitterness and ongoing assertions of self-righteousness.

It's getting a bit old.... but I suppose that is the point of the more subtle trolls to annoy about quasi-irrelevant topics.

I earned the right to be here, Pal. Not everyone who tells you things you don't want to hear is your enemy.

I doubt that anyone here, including yours truly, minds reading about information that is negative about bitcoin or contrary to belief or is opposed to reading such information, so long as that information is genuinely being provided and based in reality with out ongoing bullshit and apparently selfish spin....


Frequently we get really irritated by FUDsters, and posters who are purposefully engaging in posts to mislead or to spread FUD... and you, kind sire, seem quite inclined to tread in those territories.

Whether or not you earned the right to be here, your ongoing actions could undermine your credibility and acceptance... even if you may have a few fans that don't mind overlooking some of your apparent purposeful attempts to manipulate  and or unwarrantedly to denigrate various aspects of bitcoin.

[ChartBuddy]

Coin



Explanation

[orpington]

OMFG Bitcoin still available for less than 3000CNY?!? What a deal!

[billyjoeallen]

The thing that I keep wondering about is this: What if demand for blockspace isn't as elastic as is commonly believed?

Isn't having a committee set network capacity kind of the the FOMC setting interest rate policy?

[BlindMayorBitcorn]

The technical consens-o-tron bids you farewell! 

[aztecminer]

RIP the four gimp raiders. .. i think is time we put those guys to rest same place as the bearwhale.

[billyjoeallen]

@BJA Tim Swanson wrote a paper about how adding exogenous value onto a network that cannot detect and dynamically protect the exogenous value is a bad idea. It was hard to disagree.

The metacoins and colored coin projects listed above unquestionably increase the social value
of the chain, yet they do not proportionally incentivize security beyond the existing block
reward (seigniorage) subsidy.  This could lead to an economic incentive to attack the chain, a
type of fat tail risk that could dramatically impact any layer residing on top of the Bitcoin
network.

The network is ridiculously oversecure for it's current market cap.  How many goddamn exaflops or whatever?

You might be able to snow the noobs with technobabble but I've been around too long. I'm not buying.

Security is the most important feature. Without a block subsidy today the Bitcoin network would be extremely insecure. The subsidy is going to go away. I want Bitcoin to work long term. It doesnt seem that those that want to increase the block size want that....

You don't overinsure a house for fire damage. It's called "moral hazard" and it makes the house statistically MORE likely to burn.  You don't put a $1000 case ona $100 phone. It means someone will be MORE likely to steal it. If you put too much armor on an armored truck, you limit it's cargo capacity to the point that you have to make two trips INCREASING the chance of losing the cargo. There IS such a thing as too much security.

Sometimes you make really out of touch assertions.


Why the fuck is bitcoin "over" secure?  it's to support a higher priced market cap, both anticipated and likely to happen.  Therefore, when BTC's market cap reaches $200 billion (that is about $15,000 per BTC), then the computing power is going to be able to sustain security for those potential and likely attacks.

In other words, BTC's computing power and/or security is likely already in a position to support a $10k btc, and probably a lot more - which really means that you should be preparing your moon boots, rather than coming up with lame and misfitting analogies.

The market decides how secure bitcoin ought to be by deciding what hash rate we want to pay for. We buy bitcoin, Bitcoin price goes up, more competition for blocks, higher difficulty, higher hash rate.  Now if the price tanks, you can expect the market to be less secure because the difficulty level will go down. 

Well, I for one don't want to pay for security I don't need. I'm not a terrorist or a drug dealer and I think the risk of big block exploitations is smaller than the risk of small block exploitations.  Maybe I'm wrong and somebody's going to get my "cheap" coins. That's fine. All free trade is win-win or it doesn't happen.