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

[BitUsher]

mmmnope

https://www.reddit.com/r/Bitcoin/comments/48bvjy/in_may_2015_gavin_calculated_that_blocks_will_be/

Bitcoin is under attack, and I'm not sure you see it as your salary probably is dependent on this very state.

it startes with this PR war.

Correct. The sudden influx of transactions today means that somebody is trying 'to make' Gavin look like his prediction was accurate when it fact it wasn't. There is a claim from 'experts' (albeit exact information not available I think) from the roundtable that only 40% of the blocks are actually full (if you exclude the spam). The mempool was ~1.5k 2 days ago (this says a lot). However, it also seems like the price doesn't really care.

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

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[gentlemand]

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

I think this is a borderline no brainer and probably a response to the juicy DDos Classic fans received recently. You don't get cloggage out of nowhere of that magnitude unless it's very exceedingly deliberate.

[bargainbin]

...
You do realize that bitcoin transactions are near-zero-cost, don't you?

If by "near zero" you mean "about $7 US @ current exchange rate, subsidized by block rewards (base money inflation)," then sure.

[Cconvert2G36]

v.0.12.0 has only been out for a week!

Is this the same variety of math where segwit = 2MB max_block_size?

[BlindMayorBitcorn]

mmmnope

https://www.reddit.com/r/Bitcoin/comments/48bvjy/in_may_2015_gavin_calculated_that_blocks_will_be/

Bitcoin is under attack, and I'm not sure you see it as your salary probably is dependent on this very state.

it startes with this PR war.

Correct. The sudden influx of transactions today means that somebody is trying 'to make' Gavin look like his prediction was accurate when it fact it wasn't. There is a claim from 'experts' (albeit exact information not available I think) from the roundtable that only 40% of the blocks are actually full (if you exclude the spam). The mempool was ~1.5k 2 days ago (this says a lot). However, it also seems like the price doesn't really care.

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

What do you estimate this little fuck you has cost them approximately?

[BitUsher]

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

I think this is a borderline no brainer and probably a response to the juicy DDos Classic fans received recently. You don't get cloggage out of nowhere of that magnitude unless it's very exceedingly deliberate.

Many Classic supporters are actually indicating this isn't an attack from some posts, and out of respect for them we have to consider the possibility of a surge in growth due to new users or higher activity.... It could indeed happen one of these days. In this case the fact that most tx remain very low and aren't adjusting to higher amounts, and the evidence from the link above this appears to be a deliberate spam attack, and coincidentally timed to match Gavin's prediction *

I doubt Gavin is involved , likely one of his fans that is upset and wants to make a statement.

[AlexGR]

...
You do realize that bitcoin transactions are near-zero-cost, don't you?

If by "near zero" you mean "about $7 US @ current exchange rate, subsidized by block rewards (base money inflation)," then sure.

The spammer isn't paying these, so it's near zero cost to them

You do realize that bitcoin transactions are near-zero-cost, don't you? What central planning and quotas are you telling me about? What protection from decentralization or spam? We are at almost 70gb, with most of it being crap.

Uh, really? The malicious miner DoS protection limit set in 2010 turned central economic policy tool.

Again: we are at practically zero-cost-txs with 1c-2c-5c etc. This is bullshit.

At what point is it not near-zero-cost?

There is not a single point where extremely cheap suddenly stops being extremely cheap. At least not if you have 0.01 usd increments. You can't say 0.05 is cheap and 0.06 stops being cheap. That doesn't work.

How much competitive advantage do you want to sacrifice at 25BTC per block reward?

As I demonstrated BTC is not losing anything to its competitors.

We have a "blocks are full" situation. Who is getting BTC traffic due to our "disadvantage"? Competitors blockchains are empty ghost-towns.

The competitive advantage rationale could also be applied for block times and have people asking for "urgent" cutting to 2.5m or 1m blocks etc. "Ohhh our opponent has faster blocks, quick, let's make our block fast too because we'll be very slow compared to them and we'll lose clients".

2-3-5 years after the introduction of faster currencies, BTC is still king despite it's competitive "disadvantage". Why?

[Fatman3001]

mmmnope

https://www.reddit.com/r/Bitcoin/comments/48bvjy/in_may_2015_gavin_calculated_that_blocks_will_be/

Bitcoin is under attack, and I'm not sure you see it as your salary probably is dependent on this very state.

it startes with this PR war.

Correct. The sudden influx of transactions today means that somebody is trying 'to make' Gavin look like his prediction was accurate when it fact it wasn't. There is a claim from 'experts' (albeit exact information not available I think) from the roundtable that only 40% of the blocks are actually full (if you exclude the spam). The mempool was ~1.5k 2 days ago (this says a lot). However, it also seems like the price doesn't really care.

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

How is this related?

It's dated 6PM 27.feb

txs didn't start to grow until midday 28.feb.

[BlindMayorBitcorn]

^This was just the first guttural war-cry, probably.

[BitUsher]

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

What do you estimate this little fuck you has cost them approximately?

Hard to say because there are some unknown variables, but some rough calculations based upon the fact that this is the 2nd day, They appear to be targeting 40-50 Satoshis per Byte , and previous tx volumes this is costing anywhere from 10-20k USD in fees thus far.

Regardless of whether this is an attack or not , many users have been caught in the crossfire and having delays because their wallets aren't correctly adjusting for higher fees like they are supposed to. It will be interesting to do an analysis of the different wallets and see which ones are performing as expected. I will start some more tests now. 

[gentlemand]

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

I think this is a borderline no brainer and probably a response to the juicy DDos Classic fans received recently. You don't get cloggage out of nowhere of that magnitude unless it's very exceedingly deliberate.

Many Classic supporters are actually indicating this isn't an attack from some posts, and out of respect for them we have to consider the possibility of a surge in growth due to new users or higher activity.

Anyone would have to be monumentally dim to buy that. There are arseholes from every shade of the debate and it only takes a couple. If they had half a brain they could've done a subtle buildup at least.

[bargainbin]

...
As I demonstrated BTC is not losing anything to its competitors.

We have a "blocks are full" situation. Who is getting BTC traffic due to our "disadvantage"? Competitors blockchains are empty ghost-towns.
...

Lol, it's not just the alts that are Bitcoin's competition (tho both ETH & Reptilia's in-game currency are doing spectacular, compared to BTC), it's that crusty legacy finance, too

Don't expect BTC to get any bigger than it already is if it can't get any bigger than it already is.

[Fatman3001]

^This was just the first guttural war-cry, probably.

Probably, maybe, perhaps. Let's hang 'em.



Poor Picard

[JayJuanGee]

price will rise before it rises higher.


can't you see it happening?

420 is just the beginning

so whats the target price for February ? 500 600

i think is stuck range 400 - 500 ... bitcoin is selling the halving .

close... i think 350 to 500 is their range they are stuck in .. #paralyzed #GimpCoin

We gotta take bitcoin prices, one step at a time.  We are in a pretty decent "paralyzed" price range at the moment, especially, if you consider where we were 1 year ago... or even if you consider where we were 3 years ago (now, 2 years ago is another story... hahahahahaha)

Anyhow, back on point>>>> If prices go above $467, then to me it seems pretty likely we are going to break past $500, and if we break past $500, then likely the next major resistance point would be between $550 and $650; however, I am not willing to suggest that we are out of the $400s, even if we were to break into the $500s in the next few weeks.

As far as the downside,  $350 does seem like a pretty strong support level, so at this time, it would take a pretty sizeable amount of FUD to convince people to sell below that price point..... Upper $300s is in striking distance, but even that doesn't seem so likely at the moment...... given our paralysis that currently is largely between $416 and $440 (hovering in the upper end at the moment, and cannot really complain about that - unless you are a Mr. Aztec type or a BJA type or some other whiner that is trying to find reasons to complain).  


Edit:  On a side note, even some of the bears seem a bit more cheerful lately with rising prices... so possibly, the solution to a lot of the various whining is to bring up the price past $555 in order that we can experience a kind of Kumbaya moment.

gimpcoin is paralyzed until either scaling is fixed or obama leaves office. u might could go up but u aint going back down below 300 .. the reason i say 350 cuz they need to feel comfortable. it doesnt matter how u try twist it, gimpcoin remains gimped. it is not going down below 300, and it is unlikely to go above 500. i think i mentioned before that anything above 400 was above profit for my cold storage. i'm in the green on exchange and in cold storage. when i say "paralyzed", i'm not really talking about the price of bitcoin.. i am talking about the LOSS OF POWER that bitcoin is enjoying right now. can't go up, can't go down .. fukd. #paralyzed #GimpCoin

Yeah, it is all good and fun, and you are correct, until you are not.

Yep.. you picked our current price range, and to suggest that it is permanent is an attempt to make FUD and illogical stupid ass assertions out of a price range that currently is in place.

It would be nice to get rid of you, once bitcoin breaks out of this price range, but you are likely just like BJA, and we are not going to have such fortune.  You are merely going to change your lame ass theory to fit the new circumstances and then shill with your new lame framework.... I guess, so long as you are still getting paid for coming up with goofy and out-of-touch wishful fantasies.

go below 300 or above 500... shrug.. until you do u still didn't .

bitcoin is paralyzed because if it goes below 300 i might buy more, and if you go above 500 i'm solid in profits ..

straight up.. #Paralyzed #GimpedCoin

very simple, go below 300 or above 500 and stay awhile. it doesnt matter to me which you do.. go for it.

You sound as squirmy as BJA... Did you guys get the same training?  Did you go to the same shill school?

At one moment you are asserting that we are stuck in a price range forever.  The second moment you are saying that forever doesn't really mean forever, because if prices go above $500, then you have a reason to brag.

So no matter what, you are the greatest... because you are winner...  whatever... You spend a considerable amount of time dissing bitcoin, but then supposedly investing at the same time... makes little to no sense, except that you are likely making things up.

i said until blocks is fixed or obama leaves office. .. the reason i bought into bitcoin was to cover my ass... i do own some bitcoins, but i strongly feel bitcoin is way too cute... my mind was changed at some point .

Well o.k.... since you are now self-described as open minded, I suppose that we may be grateful to have your presence in this here thread....



Despite your self-description, your posts come off as a bit less than open-minded, but maybe that's just me?   

[Fatman3001]

Interesting ... and there is indeed evidence to back up your claim -

https://twitter.com/lopp/status/703769346921930757

I think this is a borderline no brainer and probably a response to the juicy DDos Classic fans received recently. You don't get cloggage out of nowhere of that magnitude unless it's very exceedingly deliberate.

Many Classic supporters are actually indicating this isn't an attack from some posts, and out of respect for them we have to consider the possibility of a surge in growth due to new users or higher activity.

Anyone would have to be monumentally dim to buy that. There are arseholes from every shade of the debate and it only takes a couple. If they had half a brain they could've done a subtle buildup at least.

I'm a Hero Member now. Everything I do is monumental.

[BlindMayorBitcorn]

Nope. Forget it! I'm not walking!




...

[Cconvert2G36]

You do realize that bitcoin transactions are near-zero-cost, don't you? What central planning and quotas are you telling me about? What protection from decentralization or spam? We are at almost 70gb, with most of it being crap.

Uh, really? The malicious miner DoS protection limit set in 2010 turned central economic policy tool.

Again: we are at practically zero-cost-txs with 1c-2c-5c etc. This is bullshit.

You keep saying these cents numbers as if they're relevant. Use sat/byte pls. And tell me what a non-near-zero fee will be, thx. I'm obviously not asking for an objectively correct number here, that's not possible ("near" is not an objective descriptor), just your personal opinion will suffice.

At what point is it not near-zero-cost?

There is not a single point where extremely cheap suddenly stops being extremely cheap. At least not if you have 0.01 usd increments. You can't say 0.05 is cheap and 0.06 stops being cheap. That doesn't work.

See above, you are the one saying they are near-zero fee. I am politely asking you, the budding central planner, what level you think that stops being the case.

How much competitive advantage do you want to sacrifice at 25BTC per block reward?

As I demonstrated BTC is not losing anything to its competitors.

We have a "blocks are full" situation. Who is getting BTC traffic due to our "disadvantage"? Competitors blockchains are empty ghost-towns.

The competitive advantage rationale could also be applied for block times and have people asking for "urgent" cutting to 2.5m or 1m blocks etc. "Ohhh our opponent has faster blocks, quick, let's make our block fast too because we'll be very slow compared to them and we'll lose clients".

2-3-5 years after the introduction of faster currencies, BTC is still king despite it's competitive "disadvantage". Why?

A sure sign of a true businessman, "competition doesn't exist today, therefore it won't, ever, pay up suckas".

[JayJuanGee]

Ok, Aztec, Quick question: Why does it matter who the current President is? How would this impact your analysis? Why is 'gimpcoin' in your opinion not rising in value until after that point.

LOOK at you... hahahahahahaha..

Acting as if Mr. Aztec actually has any meaningful thoughts or contribution that he could make.        


Edit:  or that he would actually answer the question.. .. reading his above response that avoids answering the question (regarding Why Obama specifically).

like your insulting people in the forum is a sign of intelligence ....

Who am I insulting?  Helrow?

 I am just describing your behavior.. You can take it how you like.  Do you ever engage in meaningful discussion that is genuine and an attempt at an acruate and honest prediction.... possibly 1/20 posts, maybe, giving you the benefit of the doubt.  

So in that regard, even though I may call you a dip shit a dumb shit and various other names, I am referring to your behavior more than anything, and not really asserting that you are really dumb.. even though sometimes it seems very likely... mostly, you are disingenuous.. which is not the same as dumb...

your behavior is to down talk and insult people you do not agree with in this forum ... u do it all the time.. just because u dont understand me doesnt mean anything about me . alright #gimptard

all my posts were on topic until you started in with your insults.

I know that you have a pattern of behavior of mischaracterizing posts (mine and other posts), and I know that you have a pattern of behavior of raising topics or bringing up points, but failing/refusing to defend those points.  I know that you have a pattern of behavior of asserting that I am being too mean to you (and maybe I am being too mean to others) without actually engaging with the actual substantive points that I had been making.  Maybe posters, such as me, begin to use a lot stronger language because certain turd heads are in the habit of being disingenuous in their method and pattern of responding to posts?  Ever think of that?  rather than mischaracterizing the situation?


Oh yeah, and you do fine, so long as you can post whatever bullshit that you want and no one asks you to back it up or to provide details, then you are doing just fine... ..

Yeah, right.         

[gentlemand]

I'm a Hero Member now. Everything I do is monumental.

I know the feeling. This is me farting and I was half a continent away at the time. https://www.youtube.com/watch?v=UospDQqEdlc

[yefi]

They [white guys] developed the scientific method.  Newton's physics. Adam Smith's economics, chemistry, medicine, engineering. 

And let's not forget a knack for taking all the credit.

We take credit, but not all credit. We deserve no credit?

The Orient made contributions to these fields too - such as Avicenna and Ibn al-Haytham - but recognition of their influence or achievements is often lacking.

This does not diminish the contributions that we did make though (and by we, I mean you and I ;P).