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

[BlindMayorBitcorn]

Hi there. I’m BlindMayorBitcorn, Hero member at Bitcointalk. AMA!

 

Congratulations bro!

I will be joining you at the next activity points update in 2 weeks

We're the hero's Gotham needs, not the one's it deserves.

[ChartBuddy]

Coin



Explanation

[fisheater22]

[...]

When I post here, always imagine myself as this:



...and write accordingly. Out of curiosity, how do you picture yourself when you post?

[BlindMayorBitcorn]

Who is BtcDrak? And other good questions

Best answer:

I don't know much about his prior history, but early last year he launched an altcoin called Viacoin (ironically out of frustrations with the Core dev team), who's main advantage over other altcoins was that it had a meta-coin layer on top for issuing assets etc. called Clearinghouse - except that "Clearinghouse" is actually just a fork/clone of Counterparty, which had just been released a month or so earlier (thus mostly unknown), and which conveniently is barely mentioned at all, the protocol marketed as if he built it himself (he didn't). A whole crap ton of Viacoin was pre-mined and then sold in a crowdsale for a total of around ~600 BTC. So while Counterparty folks did a burn of 2100 BTC, btcdrak took the same code and used it to raise a serious chunk of cash for himself. Meanwhile, Peter Todd had recently had an episode on LTB where he talked about his "tree chains" concept, supposedly vastly better than sidechains. btcdrak thought this was amazing and proceeded to hire Peter explicitly to develop the Tree Chains concept for Viacoin, using his stash earned from pre-mining (mostly a PR stunt IMO). Tree Chains apparantly went nowhere and never happened, but instead Peter became "Chief Scientist" of Viacoin (and more recently abandoned that title, IIRC) . Ever since then, Peter and Drak seem to always show up in the same places, pushing the same viewpoints etc.. and now btcdrak has managed to integrate himself in the inner circle of Core devs, most likely thanks to Peter's help.

[sAt0sHiFanClub]

...and write accordingly. Out of curiosity, how do you picture yourself when you post?

[BlindMayorBitcorn]

...how do you picture yourself when you post?

[adamstgBit]

Artificial scarcity of coins in addition to artificial scarcity of blockspace is just too much scarcity for me, so i'm gonna make myself scarce but I gotta cash out first.

Too much talk, not enough action.  Sell your coins and MTFO.

billyjoeallen and i usually agree, and this is no exception, I too will get out if block limit isn't addressed and fees rise. luckily it won't come to that... but if it does, and for some ODD reason devs decide to never touch the block limit, i think i'd be lucky to get >200$ a coin. not fixing this is basically declaring that bitcoin can NOT be "the future of money", and inviting everyone to produce a crypto that can.

[ChartBuddy]

Coin



Explanation

[Fatman3001]

Artificial scarcity of coins in addition to artificial scarcity of blockspace is just too much scarcity for me, so i'm gonna make myself scarce but I gotta cash out first.

Too much talk, not enough action.  Sell your coins and MTFO.

billyjoeallen and i usually agree, and this is no exception, I too will get out if block limit isn't addressed and fees rise. luckily it won't come to that... but if it does, and for some ODD reason devs decide to never touch the block limit, i think i'd be lucky to get >200$ a coin. not fixing this is basically declaring that bitcoin can NOT be "the future of money", and inviting everyone to produce a crypto that can.

Kind of weird that I'm kinda hoping for a purely speculative bubble, rather than real adoption. The line between BTC and a ponzi/pyramid is getting blurry as long as this thing doesn't scale.

At least core devs seem to agree that scaling needs to be addressed. It wasn't a given.

[BlindMayorBitcorn]

Coin



Explanation

[BlindMayorBitcorn]

Artificial scarcity of coins in addition to artificial scarcity of blockspace is just too much scarcity for me, so i'm gonna make myself scarce but I gotta cash out first.

Too much talk, not enough action.  Sell your coins and MTFO.

billyjoeallen and i usually agree, and this is no exception, I too will get out if block limit isn't addressed and fees rise. luckily it won't come to that... but if it does, and for some ODD reason devs decide to never touch the block limit, i think i'd be lucky to get >200$ a coin. not fixing this is basically declaring that bitcoin can NOT be "the future of money", and inviting everyone to produce a crypto that can.

Kind of weird that I'm kinda hoping for a purely speculative bubble, rather than real adoption. The line between BTC and a ponzi/pyramid is getting blurry as long as this thing doesn't scale.

At least core devs seem to agree that scaling needs to be addressed. It wasn't a given.

Edit: Is the Jeff Garzik BIP 202 still on the table?

[suda123]

[Fatman3001]

Artificial scarcity of coins in addition to artificial scarcity of blockspace is just too much scarcity for me, so i'm gonna make myself scarce but I gotta cash out first.

Too much talk, not enough action.  Sell your coins and MTFO.

billyjoeallen and i usually agree, and this is no exception, I too will get out if block limit isn't addressed and fees rise. luckily it won't come to that... but if it does, and for some ODD reason devs decide to never touch the block limit, i think i'd be lucky to get >200$ a coin. not fixing this is basically declaring that bitcoin can NOT be "the future of money", and inviting everyone to produce a crypto that can.

Kind of weird that I'm kinda hoping for a purely speculative bubble, rather than real adoption. The line between BTC and a ponzi/pyramid is getting blurry as long as this thing doesn't scale.

At least core devs seem to agree that scaling needs to be addressed. It wasn't a given.

Is the Jeff Garzik BIP still on the table?

Which one?

BIP100, BIP102 or BIP202?

Edit: I think the answer is "no" anyway.

Jeff is kind of a dialogue fetishist, but all he has managed to do is make both sides agree that BIP100, BIP102 and BIP202 are the wrong approaches.

[TERA]

Every movement up or down looks really big to all the traders because they're looking at a short time frame and don't zoom out, so the movement takes the entire vertical height on the chart. It's the same as when your trading forex and accidentally look at a 1 minute chart and think 'oh god what's happening now. What's this huge move.  Oh it's only 5 pips'

[suda123]

Every movement up or down looks really big to all the traders because they're looking at a short time frame and don't zoom out, so the movement takes the entire vertical height on the chart. It's the same as when your trading forex and look at a 1 minute chart and think 'oh god look at that huge 5 pip move'

na im talking about the forums I go to, during august there were massive posts  going don't buy bitcoin etc etc and by really smart looking people, then everything goes quiet on the uptrend passed 300$s.

Then when it drops by 30$ all these people come out of the woodwork back again posting the same EXACT fud from when the price was at 200$s.

I used to think shills were a myth or just silly confirmation bias but im starting to believe it.

[Richy_T]

Who is BtcDrak? And other good questions

There were a lot of people didn't take a liking to Jorge but he's definitely always been sincere and honest in my book.

[dropt]

Artificial scarcity of coins in addition to artificial scarcity of blockspace is just too much scarcity for me, so i'm gonna make myself scarce but I gotta cash out first.

Too much talk, not enough action.  Sell your coins and MTFO.

billyjoeallen and i usually agree, and this is no exception, I too will get out if block limit isn't addressed and fees rise. luckily it won't come to that... but if it does, and for some ODD reason devs decide to never touch the block limit, i think i'd be lucky to get >200$ a coin. not fixing this is basically declaring that bitcoin can NOT be "the future of money", and inviting everyone to produce a crypto that can.

I'm a proponent for larger blocks as well, but where BJA, you, and I differ is that I'm not going to 'take my ball and go home' if it doesn't curtail to my every want and desire.  Bitcoin can still be the future of money even if a fee market develops that edges out the less fortunate.  I certainly don't hope it goes that way, but I'm not going to give up on Bitcoin's future just because of this.  I also don't buy into the thought that limiting block size is going to crash the price or destroy bitcoin.  The 1MB limit has been in place for years and we've seen ATH's much larger than the current rate.  I also believe that the current valuation is driven by speculators that don't necessarily care about a blocksize debate.  If the valuation were driven by people that actually use BTC for daily purchases (those ultimately affected by smallblocks) it would likely be much, much, lower than it is now.

[sAt0sHiFanClub]

Which one?

BIP100, BIP102 or BIP202?

[BlindMayorBitcorn]

Who is BtcDrak? And other good questions

There were a lot of people didn't take a liking to Jorge but he's definitely always been sincere and honest in my book.

If I had a Most Valuable Posters list he'd be on it; and NotLambchop, who's been technically absent for quite some time. 

[macsga]

Anyone here noticed that China CCMFs?