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

[BitUsher]

OK miner cowards, if you don't like Bitcoin Classic, how about a good old fashioned crash?  I think you'll find overhead resistance to a pump may be rather more than you are expecting.

I am ready to buy your discounted coins. Thank You, and happy to oblige your refund. Please tell us when and how much you are shorting as well.... or is this merely another bluff 

[1714609788]

1714609788

[1714609788]

1714609788

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

By committing to working with Core, the miners lost all negotiating power with Blockstream. Now cripplecoiners can stall and stall and wait for their beloved fee market to materialize. 

Money for fees comes directly out of money for coins.  We going down, boys and girls.  If I can't persuade you with words, maybe a hit to your net worth will be more convincing.

[billyjoeallen]

OK miner cowards, if you don't like Bitcoin Classic, how about a good old fashioned crash?  I think you'll find overhead resistance to a pump may be rather more than you are expecting.

I am ready to buy your discounted coins. Thank You, and happy to oblige your refund. Please tell us when and how much you are shorting as well.... or is this merely another bluff 

40 coin short with a base price of $381.67.  If it goes up from here, I'll double it. If it keeps going up, I'll double it again.

[Elwar]

Another key piece of the Puzzle for Payment channels and Lightning network merged today = BIP 68  (sequence-locks)

https://github.com/bitcoin/bips/blob/master/bip-0068.mediawiki

On track for Greater capacity ... bullish!

Excellent. nLockTime

Now I can give bitcoins to my nieces and nephews with a lock on them (their parents) spending it before they turn 18.

[podyx]

By committing to working with Core, the miners lost all negotiating power with Blockstream. Now cripplecoiners can stall and stall and wait for their beloved fee market to materialize.  

Money for fees comes directly out of money for coins.  We going down, boys and girls.  If I can't persuade you with words, maybe a hit to your net worth will be more convincing.

I thought the blockchain size would be increased though? Wasn't it consensus on that?

I've been away for a bit as I've been busy with other things so haven't really followed everything.

[SnokkomBTC]

OK miner cowards, if you don't like Bitcoin Classic, how about a good old fashioned crash?  I think you'll find overhead resistance to a pump may be rather more than you are expecting.

I am ready to buy your discounted coins. Thank You, and happy to oblige your refund. Please tell us when and how much you are shorting as well.... or is this merely another bluff  

40 coin short with a base price of $381.67.  If it goes up from here, I'll double it. If it keeps going up, I'll double it again.

You're always right BJA

_/s

[bargainbin]

...
Excellent. nLockTime

Now I can give bitcoins to my nieces and nephews with a lock on them (their parents) spending it before they turn 18.

nLockTime -- Bitcoin's killer app.

[billyjoeallen]

By committing to working with Core, the miners lost all negotiating power with Blockstream. Now cripplecoiners can stall and stall and wait for their beloved fee market to materialize.  

Money for fees comes directly out of money for coins.  We going down, boys and girls.  If I can't persuade you with words, maybe a hit to your net worth will be more convincing.

I thought the blockchain size would be increased though? Wasn't it consensus on that?

I've been away for a bit as I've been busy with other things so haven't really followed everything.

Smallblockers want to eliminate small transactions (ostensibly to keep the chain uncluttered) by artificially increasing the price of them. Why they don't just lop off a few digits of divisibility I don't know.  SegWit may be a good idea, but it wasn't designed to increase capacity, but rather to fix the transaction maleability problem.  In either case, Core has admitted that it won't be implemented until the network is clogged up and I suspect it may not even be rolled out then. 

[birr]

Monkey reports in: Monkey thinks the next week could be uppish, but is generally skeptical out until mid-March, then bullish on the multi-month scale.

This time, I think I agree, but whatevs.

year of the monkey hasn't officially started yet has it?

It has!
Feb 8, 2016 to Jan 27, 2017

[BitUsher]

OK miner cowards, if you don't like Bitcoin Classic, how about a good old fashioned crash?  I think you'll find overhead resistance to a pump may be rather more than you are expecting.

I am ready to buy your discounted coins. Thank You, and happy to oblige your refund. Please tell us when and how much you are shorting as well.... or is this merely another bluff  

40 coin short with a base price of $381.67.  If it goes up from here, I'll double it. If it keeps going up, I'll double it again.

Thank you kind sir, my wallet is ready and transferring funds as we speak..

I thought the blockchain size would be increased though? Wasn't it consensus on that?

I've been away for a bit as I've been busy with other things so haven't really followed everything.

Yes we are in track for almost doubling capacity in April , with another solid increase in 4th quarter(starts to roll out in 5-6 months) this year with LN, and another HF early 2017.

[billyjoeallen]

Thank you kind sir, my wallet is ready and transferring funds as we speak..

You do realize that you're just effectively buying coins that I bought for $10 back in 2011, right? I keep the vast majority of my coins off exchange to minimize risk. I'm not selling coins I don't have and I'm selling them at >3000% markup, so deposit all you want.

[BitUsher]

Thank you kind sir, my wallet is ready and transferring funds as we speak..

You do realize that you're just effectively buying coins that I bought for $10 back in 2011, right? I keep the vast majority of my coins off exchange to minimize risk. I'm not selling coins I don't have and I'm selling them at >3000% markup, so deposit all you want.

I'm not attacking your investment strategies and sincerely wish you well. I am just thanking you for creating a small temporary discount before the next bubble. Thank you!

http://www.forbes.com/sites/laurashin/2016/02/12/chinas-role-in-bitcoin-how-cultural-differences-are-affecting-the-technologys-progress

The Chinese miners are aligned with core, Italy and other countries facing fiat crisis, halving approaching.... you are a brave man , and I appreciate it!  

[billyjoeallen]

Thank you kind sir, my wallet is ready and transferring funds as we speak..

You do realize that you're just effectively buying coins that I bought for $10 back in 2011, right? I keep the vast majority of my coins off exchange to minimize risk. I'm not selling coins I don't have and I'm selling them at >3000% markup, so deposit all you want.

I'm not attacking your investment strategies and sincerely wish you well. I am just thanking you for creating a small temporary discount before the next bubble. Thank you!

http://www.forbes.com/sites/laurashin/2016/02/12/chinas-role-in-bitcoin-how-cultural-differences-are-affecting-the-technologys-progress

The Chinese miners are aligned with core, Italy and other countries facing fiat crisis, halving approaching.... you are a brave man , and I appreciate it!  

I'm well aware of the Chinese cultural deference to authority. With so much Bitcoin activity in China now, it makes it far less attractive as an investment.  

Core is the Central Committee of decentralization, dependent on giant miners centralized in one totalitarian state to maintain their hegemony.  if it just goes up from here, good luck. Take the ball and run with it. I'll take my 3000% profits and look for another coin to play with.

[ChartBuddy]

Coin



Explanation

[BitUsher]

I'm well aware of the Chinese cultural deference to authority. With so much Bitcoin activity in China now, it make it far less attractive as an investment.  

Which is what makes the statements from some Classic supporters so ridiculous, they first want to replace 45 developers from many backgrounds and many different companies with 5 devs from 2-3 companies, than when that fails they threaten to sell their BTC for ETH which is controlled completely by 1 dev ... all because they "distrust authority."  Perhaps the reality has nothing to do with decentralization of development (There always has been multiple implementations with different dev teams) , but a fixation of growing fast and ignoring all concerns along the way.

[billyjoeallen]

I'm well aware of the Chinese cultural deference to authority. With so much Bitcoin activity in China now, it make it far less attractive as an investment.  

Which is what makes the statements from some Classic supporters so ridiculous, they first want to replace 45 developers from many backgrounds and many different companies with 5 devs from 2-3 companies, than when that fails they threaten to sell their BTC for ETH which is controlled completely by 1 dev ... all because they "distrust authority."  Perhaps the reality has nothing to do with decentralization of development (There always has been multiple implementations with different dev teams) , but a fixation of growing fast and ignoring all concerns along the way.

That's not true at all. We want developers who care what their customers want. It's as goddamn simple as that. We want people who are competent enough to respond to the people who buy coins and keep this whole thing going.

If the other hodlers are ok with an intentionally inefficient network, then that's their call. I am tired of arguing.

[Sitarow]

snip

Which is what makes the statements from some Classic supporters so ridiculous, they first want to replace 45 developers from many backgrounds and many different companies with 5 devs from 2-3 companies, than when that fails they threaten to sell their BTC for ETH which is controlled completely by 1 dev ... all because they "distrust authority."  Perhaps the reality has nothing to do with decentralization of development (There always has been multiple implementations with different dev teams) , but a fixation of growing fast and ignoring all concerns along the way.

Or simply some developers have succumb to the effects of blind greed/fear.

[Elwar]

I'm well aware of the Chinese cultural deference to authority. With so much Bitcoin activity in China now, it make it far less attractive as an investment.  

Which is what makes the statements from some Classic supporters so ridiculous, they first want to replace 45 developers from many backgrounds and many different companies with 5 devs from 2-3 companies, than when that fails they threaten to sell their BTC for ETH which is controlled completely by 1 dev ... all because they "distrust authority."  Perhaps the reality has nothing to do with decentralization of development (There always has been multiple implementations with different dev teams) , but a fixation of growing fast and ignoring all concerns along the way.

So the Core devs will quit if they have to work with the same code with 2Mb block size instead of 1Mb?

[billyjoeallen]

UPDATE: I now have a 80 coin short in. Want to make it 160? 320? keep pumping, cripplecoiners.