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

[marcus_of_augustus]

Looks like the anomalous transaction increase that prompted the timely March 1 chaos might have subsided. I predict that in keeping with the problem-crisis-solution spook playbook we will soon see a blog post or tweet or similar controversial statement from Gavin (big block solution now super-duper urgent) with his smiling face promptly upvoted to the top of the front page on r/Bitcoin ... a  silent "beautiful settlement network you got there, be a shame to lose it ..."

https://www.reddit.com/r/Bitcoin/

https://www.reddit.com/r/Bitcoin/comments/48srb6/onedollar_lulz_gavin_andresen/

... and just like clockwork there's gavin's smiling dial on the top of reddit with the "solution" to the manufactured "crisis"

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[BitconAssociation]

I was thinking, wouldn't it be fun if we transacted with each other by using a proof-of-work currency of some sort, only the work part wasn't burning shitloads of electricity with Chinese silicon in Chinese chicken coops located in rural China like we have now, but, like, an actual job?
So PoW would be, like, our paychecks, i.e. real folding money?
Our friends & neighbors might stop avoiding us, and nasty children won't point their pudgy little fingers and laugh?
How would that be? ...guys?

[ChartBuddy]

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Explanation

[JayJuanGee]

Anyone else watching this unfold ?

https://np.reddit.com/r/technology/comments/48rac0/bitcoins_nightmare_scenario_has_come_to_pass/

You should change your name, from "TakeTheSkyRoad" to "TheSkyIsFallingRoad"


The information contained within the link is filled with total bullshit. 


The worst problems in bitcoin, at the moment is that some people are believing propaganda regarding supposed technical problems in bitcoin.

In that regard, any problems are people screaming really loud about make believe technical problems.

[2015Bubble]

Why is btc volume so high today?
I hope that eth will get dumped soon so btc can test 500 lvls and maybe a test moonshot.

[JayJuanGee]

I hate to see other coins succeed.

Ahahah xD

Well on a more serious manner, I hate useless shit succeeding. Eth is not a coin, it's not a currency and shouldn't be treated as one.

And let's be serious, if they wanted our sympathy, they shouldn't have spammed reddit like that...

I think it's us that needs their sympathy. Innit?

Sympathy?

Why would we need sympathy when we got bitcoins! BTC BTC

Because we hit our capacity limit. They got sharding or whatever so they can scale to the moon.

Not even close to hitting any kind of real limit.  I had several transactions on the blockchain in the past few days, and a few of them, I experimented and cut the standard fee in half (from .0001BTC to .00005BTC per kilobyte - that's $.02), and all of my transactions were confirmed (at least 3 confirmations) within a couple of hours.. and within minutes each of them showed up as "pending." 

If we get to the point of a week or longer with these kinds of low fees to confirm transactions, then let me know, and I will consider the matter.

Yeah, sure, we want some faster transactions and to keep fees low, but have a little patience ladies (ten paciencia mujeres) because Seg wit is right around the corner, and there are likely going to be a lot of innovations and inventions around the seg wit technologies (and contributions to the blockchain).

[JayJuanGee]

Current bitcoin hodlers are surprisingly 'strong hands'. There is so much FUD and pessimism currently that the situation is quite scary for some, I'm sure. On the other hand, there is Ethereum's amazing bull run...which surely attracts some greedy btc hodlers.

I hope I didn't speak too early, though  

Why would those of us who are still here quit now?

That was my point...kind of 

Yeah, as if it would be really smart to quit bitcoin after 100% appreciation in about a year... with a lot of the interesting ongoing developments in the space...


The level of FUD is truely amazing - though I am sure it is shaking a few of the ones who got into bitcoin in recent times (want to take their profits and maybe mitigate their perception of potential losses)

[BlindMayorBitcorn]

I hate to see other coins succeed.

Ahahah xD

Well on a more serious manner, I hate useless shit succeeding. Eth is not a coin, it's not a currency and shouldn't be treated as one.

And let's be serious, if they wanted our sympathy, they shouldn't have spammed reddit like that...

I think it's us that needs their sympathy. Innit?

Sympathy?

Why would we need sympathy when we got bitcoins! BTC BTC

Because we hit our capacity limit. They got sharding or whatever so they can scale to the moon.

Not even close to hitting any kind of real limit.  I had several transactions on the blockchain in the past few days, and a few of them, I experimented and cut the standard fee in half (from .0001BTC to .00005BTC per kilobyte - that's $.02), and all of my transactions were confirmed (at least 3 confirmations) within a couple of hours.. and within minutes each of them showed up as "pending." 

If we get to the point of a week or longer with these kinds of low fees to confirm transactions, then let me know, and I will consider the matter.

Yeah, sure, we want some faster transactions and to keep fees low, but have a little patience ladies (ten paciencia mujeres) because Seg wit is right around the corner, and there are likely going to be a lot of innovations and inventions around the seg wit technologies (and contributions to the blockchain).

Well to be honest JJG, I remember not being shaken in the least by the Ripple shills. Because Ripple is shit. But this Ether madness has got me wondering. Are my fellow big blockers all moving on to greener pastures? IDK.

I just DK

[molecular]

When will this retarded experiment end....

When tx demand has dropped below 1 MB/block

[Fatman3001]

When will this retarded experiment end....

When tx demand has dropped below 1 MB/block

I was thinking more along the lines of: when will the Bitcoin community wise up and boot out the freckers who got us in this mess and implement 2/4/8mb, BIP101 or Unlimited?

[Andre#]

When will this retarded experiment end....

When tx demand has dropped below 1 MB/block

I was thinking more along the lines of: when will the Bitcoin community wise up and boot out the freckers who got us in this mess and implement, 2/4/8mb, BIP101 or Unlimited?

It has to hurt real bad before the frackers are booted out. Real bad. We are not there, yet.

[Cconvert2G36]

Whell, the segwit testnet had a chain fork, we're not really sure why... It's much safer than changing a one to a two tho, and will give us (maybe) 75% of the capacity of the alternative while completely changing the fee economics (75% cheaper) for LN tx.

I think the best idea would be to rush it out as a capacity fix ASAP on a $6 billion monetary network.   



Bullish.

[ChartBuddy]

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Explanation

[JayJuanGee]

In that regard, any problems are people using entirely too many words to bloviate about their make-believe profits.

What is a make believe profits? 

What's the status of your portfolio?

Have you ever provided any details in your BTC history in order to attempt to engage in a meaningful dialogue rather than vague pussified indirect innuendos?

Blockstream has your future well in hand, they're technical experts you know...

Blockstream is one entity, and many fearmongering FUDsters seem to giving too much weight to their alleged importance in order to attempt to bring greater weight to their conspiracy theory FUD spreading attempts.

Your calling and purpose in this decentralized network ruled by math, intrepid investor, is quite simple:

Buy... and HODL. 

Buy and HODL is not too bad of a strategy (and surely it is much easier to accomplish and harder to fuck up than trading); however, when there is a lot of up and down price movements in the bitcoin space, there can be some advantages in protecting a person's own BTC investment portfolio and overall position by selling small  (or some manageable) quantities on the way prices go up (in order to buy more BTC on the way prices go down). 

A major problem in attempting to protect yourself by selling small amounts of your BTC holdings seems to be that people tend to get too carried away or greedy
with selling a lot and attempting to make some kind of killing (rather than engaging in hedging like behaviors by selling perhaps less than 30% of profits at various upswing price intervals)

[Fatman3001]

When will this retarded experiment end....

When tx demand has dropped below 1 MB/block

I was thinking more along the lines of: when will the Bitcoin community wise up and boot out the freckers who got us in this mess and implement 2/4/8mb, BIP101 or Unlimited?

Core is Love. Give yourself freely to Blockstream. Now stop with the self-sabotaging and onboard already.

"Embrace the love of the pah-wraiths!"

[BlindMayorBitcorn]

Whell, the segwit testnet had a chain fork, we're not really sure why... It's much safer than changing a one to a two tho, and will give us (maybe) 75% of the capacity of the alternative while completely changing the fee economics (75% cheaper) for LN tx.

I think the best idea would be to rush it out as a capacity fix ASAP on a $6 billion monetary network.   



Bullish.

And this is supposed to be ready to implement on the main chain when?? We could have been hardfroked to a 2 by now!

[Cconvert2G36]

What is a make believe profits? 

Make-believe profits; adjective - noun [plural]; Investor's shrewd investment is worth less now vs when he made the investment. A complete fucking lack of profits.

What's the status of your portfolio?

None of your business. 

Have you ever provided any details in your BTC history in order to attempt to engage in a meaningful dialogue rather than vague pussified indirect innuendos?

No, see above. Meaningful dialogue without pointless bloviation, sounds refreshing.



@BMB - Next month, because soft fork = safe fork. 

[BlindMayorBitcorn]

Crazy white people is crazy.

[notme]

What is a make believe profits? 

Make-believe profits; adjective - noun [plural]; Investor's shrewd investment is worth less now vs when he made the investment. A complete fucking lack of profits.

What's the status of your portfolio?

None of your business. 

Have you ever provided any details in your BTC history in order to attempt to engage in a meaningful dialogue rather than vague pussified indirect innuendos?

No, see above. Meaningful dialogue without pointless bloviation, sounds refreshing.



@BMB - Next month, because soft fork = safe fork. 

How safe is it if it caused a hard fork on testnet?  How safe is it when the transactions created using the new features can be spent by anybody using the old rules.  That sounds like a s5rong incentive to lie about what you support to trigger activation and then sweep up a bunch of BTC as the transactions start coming in.

[ChartBuddy]

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Explanation