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

[8up]

... Because [ETH] requires Bitcoin to purchase ...

Finally! Non-DNM unique use case scenario for BTC

+1

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[ChartBuddy]

Coin



Explanation

[hdbuck]

ETH is seeing the bubble meant to be for bitcoin. Everybody is "waiting for the consolidation" to get in...

Sounds familiar!? > ETH is 2011 all over again.

Just wait for when they'll dump back into bitcoin. 

[8up]

ETH is seeing the bubble meant to be for bitcoin. Everybody is "waiting for the consolidation" to get in...

Sounds familiar!? > ETH is 2011 all over again.

Just wait for when they'll dump back into bitcoin. 

I am waiting on both sides 

[Chef Ramsay]

Just as we start to raise into mid 380's these classic people make another bombing run and we are back in 370s. Hopefully coinbase and block-chain alliance buddies do not release any supporting statements and classic continues its fade into obscurity. This will mean price increase.

Lol @ bombing runs. Queues up the thought of experimental aircraft being tested at Area 51 but this Classic project ain't even classified.

[aztecminer]

Bitcoin is too inflexible for what Ethereum is trying to do and vice versa. With Bitcoin Ethereum has a safe and reliable store of value which it can integrate into its systems. With Ethereum Bitcoin has a platform uniquely suited to expand its potential. It's a win-win situation.

When and how did Ethereum solve the two-way-peg-problem that is required for it to "use Bitcoin as a reliable store of value which it can integrate" ?

Ethereum will not work like a sidechain. Distributed apps running on ethereum will run Bitcoin wallets and operate them through smart contracts.... I think.

So you're saying that it's possible to move bitcoins back and forth from the Bitcoin blockchain using an outside D App without Bitcoin being aware of it and without a trusted third party ? Interesting.

(I am pretty sure that it's not possible)

all kinds of weird unexplainable things are possible with bitcoin #BitcoinBizarroWorld

[Fatman3001]

Bitcoin is too inflexible for what Ethereum is trying to do and vice versa. With Bitcoin Ethereum has a safe and reliable store of value which it can integrate into its systems. With Ethereum Bitcoin has a platform uniquely suited to expand its potential. It's a win-win situation.

When and how did Ethereum solve the two-way-peg-problem that is required for it to "use Bitcoin as a reliable store of value which it can integrate" ?

Ethereum will not work like a sidechain. Distributed apps running on ethereum will run Bitcoin wallets and operate them through smart contracts.... I think.

So you're saying that it's possible to move bitcoins back and forth from the Bitcoin blockchain using an outside D App without Bitcoin being aware of it and without a trusted third party ? Interesting.

(I am pretty sure that it's not possible)

No, that's not what I'm saying. The bitcoins stay on the Bitcoin blockchain. It's no different from me or you or Circle's system using Bitcoins. Except it's an Dapp doing it.

[galdur]

[BlindMayorBitcorn]

Benevolent dictator and a scripting language to empower the future of smart contracts? Big woop. I have a shoe. So?

[ChartBuddy]

Coin



Explanation

[pearnapple]

the price is getting to grow right now a little bit i wonder how will the classic release affect the price

[xslugx]

the price is getting to grow right now a little bit i wonder how will the classic release affect the price

Don't worry it won't ^^

There is no reason for the release of btc classic to affect the price!
Only the size issue will affect the price right now.

[Adrian-x]

the price is getting to grow right now a little bit i wonder how will the classic release affect the price

Don't worry it won't ^^

There is no reason for the release of btc classic to affect the price!
Only the size issue will affect the price right now.

This ^^,  and I'm relatively confident that lots of bitcoiners will buy back in when we successful hard fork away from the PwC partnership to limit Bitcoin block size. Once that blockade is broken the sky's the limit.

[hdbuck]

the price is getting to grow right now a little bit i wonder how will the classic release affect the price

Don't worry it won't ^^

There is no reason for the release of btc classic to affect the price!
Only the size issue will affect the price right now.

This ^^,  and I'm relatively confident that lots of bitcoiners will buy back in when we successful hard fork away from the PwC partnership to limit Bitcoin block size. Once that blockade is broken the sky's the limit.

lol, now its PwC partnership that limit the blocksize? watta looser.

[cbeast]

Benevolent dictator and a scripting language to empower the future of smart contracts? Big woop. I have a shoe. So?

Bitcoin is somewhere between Monero and Ethereum. You need contracting, but too much creates complexity traps. Some folks are trying to make Bitcoin too complex and adding unneeded features. Those will be selected out in future forks. The safest route is minimal functionality for what is most needed. Monero doesn't have enough to be useful for Zooko's Triangle. Everything else will be cloned and branded and not a store of value.

[marcus_of_augustus]

Price goes up, Gavin dumps latest FUD controversy news... same as last week, and the week before that and the week before that ... oh he got Jeff to coordinate a FUD piece so that was new.

[xslugx]

the price is getting to grow right now a little bit i wonder how will the classic release affect the price

Don't worry it won't ^^

There is no reason for the release of btc classic to affect the price!
Only the size issue will affect the price right now.

This ^^,  and I'm relatively confident that lots of bitcoiners will buy back in when we successful hard fork away from the PwC partnership to limit Bitcoin block size. Once that blockade is broken the sky's the limit.

Yeah, no reason for all this to continue.

Eth investment was a scam in itself. To convince yourself you just have to look at the fucking number of spams on reddit saying "buy eth buy eth".

Yeah buy that shit so they can dump everything they have, then they'll come to btc for a long term investment xD

[blunderer]

Price goes up, Gavin dumps latest FUD controversy news... same as last week, and the week before that and the week before that ... oh he got Jeff to coordinate a FUD piece so that was new.

One guy. Keeps crashing our BTC. Antifragile

[ButtLava]

Bitcoin is somewhere between Monero and Ethereum. You need contracting, but too much creates complexity traps. Some folks are trying to make Bitcoin too complex and adding unneeded features. Those will be selected out in future forks. The safest route is minimal functionality for what is most needed. Monero doesn't have enough to be useful for Zooko's Triangle. Everything else will be cloned and branded and not a store of value.

This is actually something a lot of people don't realize. For a coin to function, it has to be open source. And if a coin has something cool and new in it that is genuinely starting to make bitcoin irrelevant, then the open source nature of the coin means we can copy that feature into bitcoin. Of course the move could cause a hard fork and be contentious in many ways, but in a dire situation where a coin is putting bitcoin out of business, the network will react.

I don't particularly like that bitcoin is reactionary not proactive, but I have no doubt that bitcoin will always be the top coin. Its better to maintain stability with less features and add them  later as other coins experiment to find the new stuff.

EDIT: For that matter, is anything blockstream doing with lightning and so on going to be open source? If so, how do they tell their investors they will get a 10x return when anyone could copy it to fork their own version or implement it right into bitcoin? If not, who is going to trust them to handle their money?

[JayJuanGee]

Hmm, only $3 more growth for ETH (+53%) and it reaches 1/10th of Bitcoins market capitalization and there doesn't seem to be any serious dumps comming...  

ethereum confuses me...unless it is billing itself the 'anti-bitcoin' among newbies/corp types..then I guess it makes some kinda sense ...bringing new folk/money into crypto

but essentially don't get it ...to me looks like a pump (maybe new players being drawn into crypto on the FOMO principle) but again

even say if ethereum as a coin has some good ideas ...what is to stop btc (or ltc) from that manner of their devs just saying 'cool' and upsurging

those ideas and incorporate them into their bigger network and market cap? (stealing ideas is the human way to punch up a product/idea)


again unless all the traction for ethereum is to 'stop' the evil bitcoin from masses of folk that believe the gov't/press/banker/ FUD on such

You make a lot of good points, Searing, to explain some of this attention to Ethereum. 

I agree with your overall points including your assertion that Ethereum appears mostly to have pump and dump indicators - furthermore, I can imagine some bigger institutional players (whether governmental or banks) considering that it could be in their financial and institutional interest to attempt to pump Ethereum or some other alt as a form of distraction and counter-information to bitcoin. 

Either way, there could be a lot of money to be made from Ethereum in the coming days and weeks and possibly even months; however, one can never be certain when the pump is going to end exactly and then potentially contribute towards an ability to lose a lot, as well.