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

[Alley]

when did all this coinbase crap start? they're backed by some of the hugest guns in finance. I know people here love bashing them but them dying out of nowhere is a long shot however you wanna look at it.

if I was running coinbase i'd shut the place down purely to piss off all the whining bitcoiners.

It's just pure fud.  Bitcoiners don't realize how much we need coinbase.  

[marcus_of_augustus]

http://www.coindesk.com/coinbase-first-employee-hedge-fund/

... Olaf Carlson-Wee, the first employee at venture-backed bitcoin exchange Coinbase, has departed as head of risk ... manager

not trying to spread rumours, but just saying, when head of risk manager hits the road then the risks were probably not being managed that well, which usually means ... yup, big losses

[adamstgBit]

when did all this coinbase crap start? they're backed by some of the hugest guns in finance. I know people here love bashing them but them dying out of nowhere is a long shot however you wanna look at it.

if I was running coinbase i'd shut the place down purely to piss off all the whining bitcoiners.

It's just pure fud.  Bitcoiners don't realize how much we need coinbase.  

we dont need coinbase? why do we need coinbase?

what we NEED is a decentralized USD/BTC market.

[Alley]

when did all this coinbase crap start? they're backed by some of the hugest guns in finance. I know people here love bashing them but them dying out of nowhere is a long shot however you wanna look at it.

if I was running coinbase i'd shut the place down purely to piss off all the whining bitcoiners.

It's just pure fud.  Bitcoiners don't realize how much we need coinbase.  

we dont need coinbase? why do we need coinbase?

what we NEED is a decentralized USD/BTC market.

Coinbase is for all the average joes getting into bitcoin.  And they don't spend time on forums reading fud.

[BlindMayorBitcorn]

when did all this coinbase crap start? they're backed by some of the hugest guns in finance. I know people here love bashing them but them dying out of nowhere is a long shot however you wanna look at it.

if I was running coinbase i'd shut the place down purely to piss off all the whining bitcoiners.

It's just pure fud.  Bitcoiners don't realize how much we need coinbase.  

we dont need coinbase? why do we need coinbase?

what we NEED is a decentralized USD/BTC market.

Coinbase is for all the average joes getting into bitcoin.  And they don't spend time on forums reading fud.

Gentlemanly laughter is heard.

[European Central Bank]

now i have a new throy as to why price is crashing

https://news.hodlhodl.com/news/117

miners meet with core,

according to that miners are moving to a new client, uh, yesterday. not only do they control bitcoin, they also control time and space. that's pretty cool.

[Torque]

when did all this coinbase crap start? they're backed by some of the hugest guns in finance. I know people here love bashing them but them dying out of nowhere is a long shot however you wanna look at it.

if I was running coinbase i'd shut the place down purely to piss off all the whining bitcoiners.

It's just pure fud.  Bitcoiners don't realize how much we need coinbase.  

we dont need coinbase? why do we need coinbase?

what we NEED is a decentralized USD/BTC market.

Adam, please don't be shortsighted to the absolute need for as many viable/legal onramps for Average Joe to be able to easily buy (and sell) Bitcoin, everywhere and any time, in every country.  Otherwise there will never be user growth.

No we don't need one entity for this, but you could argue that Coinbase has made more inroads in the U.S. states (where KYC/AML compliance is ridiculous) than ANY other company, than many other broker companies combined. Not to mention their growth into other countries.

So for that reason alone, yes we need Coinbase. Because if a company like Coinbase can't do it in the U.S. and be successful, then no other company will be either.

[adamstgBit]

when did all this coinbase crap start? they're backed by some of the hugest guns in finance. I know people here love bashing them but them dying out of nowhere is a long shot however you wanna look at it.

if I was running coinbase i'd shut the place down purely to piss off all the whining bitcoiners.

It's just pure fud.  Bitcoiners don't realize how much we need coinbase.  

we dont need coinbase? why do we need coinbase?

what we NEED is a decentralized USD/BTC market.

Coinbase is for all the average joes getting into bitcoin.  And they don't spend time on forums reading fud.

maybe, ETF's fits that purpose better?

[adamstgBit]

we dont need coinbase? why do we need coinbase?

what we NEED is a decentralized USD/BTC market.

I'm with you on that one, but then I'm not the one expecting to get rich by hodling BTC.
You do understand that shit like Coinbase is the difference between $20 and $600 coins, right? Or did you chug your own Kool Aid and actually think the price is driven by Bitcoin's tremendous frickin' utility, now that DNMs are all shit?

i think price is driven mostly by my speculations.

i speculate up aannnnnddd price goes down!

[HyphyBTC]

http://www.coindesk.com/coinbase-first-employee-hedge-fund/

... Olaf Carlson-Wee, the first employee at venture-backed bitcoin exchange Coinbase, has departed as head of risk ... manager

not trying to spread rumours, but just saying, when head of risk manager hits the road then the risks were probably not being managed that well, which usually means ... yup, big losses

He left to start his own hedge fund, he didn't quit out of nowhere. Stop spreading FUD like you always do.

[SilverSwan]

omfg what if coinbase blows up.

seeing 0 mention of coinbase on the first page of "service discussion" sub forum is a little reassuring... https://bitcointalk.org/index.php?board=85.0

Did you miss brg444's latest memo?

We were supposed to FUD coinbase last week.

Now it's Circle's turn:
https://twitter.com/jerallaire/status/759933484475572225

now i have a new throy as to why price is crashing

https://news.hodlhodl.com/news/117

miners meet with core,

miners are like " 2MB Bitch "
cores like "fuck you"

annnnnddd they the market didnt like that answer...

close, but FTFY

http://www.coindesk.com/coinbase-first-employee-hedge-fund/

... Olaf Carlson-Wee, the first employee at venture-backed bitcoin exchange Coinbase, has departed as head of risk ... manager

not trying to spread rumours, but just saying, when head of risk manager hits the road then the risks were probably not being managed that well, which usually means ... yup, big losses

lol

[chesthing]

Pretty obvious Olaf got sacked, and from the sounds of it for good reason.

[marcus_of_augustus]

http://www.coindesk.com/coinbase-first-employee-hedge-fund/

... Olaf Carlson-Wee, the first employee at venture-backed bitcoin exchange Coinbase, has departed as head of risk ... manager

not trying to spread rumours, but just saying, when head of risk manager hits the road then the risks were probably not being managed that well, which usually means ... yup, big losses

He left to start his own hedge fund, he didn't quit out of nowhere. Stop spreading FUD like you always do.

uh-huh ... and he's taking leave "to catch up with his gardening and for family reasons" ... icbw

[adamstgBit]

http://www.coindesk.com/coinbase-first-employee-hedge-fund/

... Olaf Carlson-Wee, the first employee at venture-backed bitcoin exchange Coinbase, has departed as head of risk ... manager

not trying to spread rumours, but just saying, when head of risk manager hits the road then the risks were probably not being managed that well, which usually means ... yup, big losses

He left to start his own hedge fund, he didn't quit out of nowhere. Stop spreading FUD like you always do.

uh-huh ... and he's taking leave "to catch up with his gardening and for family reasons" ... icbw

in reality

[SilverSwan]

http://www.coindesk.com/coinbase-first-employee-hedge-fund/

... Olaf Carlson-Wee, the first employee at venture-backed bitcoin exchange Coinbase, has departed as head of risk ... manager

not trying to spread rumours, but just saying, when head of risk manager hits the road then the risks were probably not being managed that well, which usually means ... yup, big losses

He left to start his own hedge fund, he didn't quit out of nowhere. Stop spreading FUD like you always do.

uh-huh ... and he's taking leave "to catch up with his gardening and for family reasons" ... icbw

in reality

In reality (from marcus' article):

"I saw this emerging and I think the really interesting stuff isn't happening on the bitcoin blockchain, it’s happening on ethereum and with different blockchains," he said.

In particular, Carlson-Wee believes ethereum’s digital currency, ether, as well as the digital currencies that could one day be created on the platform to represent decentralized applications, will be a significant area of development going forward.

He's gonna invest other people's money in shitcoins. 

[chesthing]

I think he may end up flippin' burgers.

[AliceGored]

http://8btc.com/thread-36622-2-1.html

this is a gr8 read.

my fav bit.

Bitcoin will have a hard-fork, eventually, I think. When bitcoin has a HF, there will be 2 chains after the fork and there will be 2 coins. It is almost guaranteed that some people will refuse the new chain and will remain on the old chain. There are enough people with significant amounts of bitcoin who will never agree to a fork and can afford to keep mining the old chain. Ethereum demonstrated this issue very well. In bitcoin it will be much bigger, because the “old” bitcoin may be worth as much as all of ethereum (1 billion USD). It will not undermine bitcoin’s value very much, but it will cause some chaos with users, wallets and exchanges. This is why a HF needs to be very carefully planned and executed with plenty of advance notice. We also need to learn from Ethereum and consider adding some anti-replay defenses to help users maintain separation of the two chains in their wallets.

I think hes right eventually we will HF but hes exaggerating the possibility of a chain split as a result IMO. if Core is supporting 2MB hardfork when the time comes ( in like 2years? ), i dont see a chain split as a possibility. I guess maybe there could be some die hard group that rejects the fork with <1% hashrate...but its not like the HF is proposing to alter the immutable blockchain, or something equally ridiculous. I disagree with the idea of adding some anti-replay defenses, the other chain should be viewed as INVALID, and there's no use catering to an invalid chain...

A 5%-hash chain of BTC will be producing blocks at something like ...200 minutes. And with difficulty adjustment in 10 months (which will not fix the issue) it'll be DOA.

A strong miner majority hard fork to a bigger max_block_size would be much more likely to dominate in Bitcoin vs Ethereum's DAO bailout fork, directly because of the difference in difficulty adjustment. A good point, which can't be overstated. Core won't be supporting the HF though. Any change from Core, from here on out, will be a soft fork. And with some clever programming tactics, you can do just about anything you can imagine with a SF. Just need a half dozen miners on-board with Blockstream CTO Maxwell's the sole repo's roadmap to activate it.

It would require proof-of-work change and diff starting from a lower point. So then you have 3 coins and the one is unusable.

There is going to be a split Bitcoin one way or the other... if HF supporters get mining support, the 1MB4EVA clan will change PoW and reset diff... and if 1MB4EVA + soft-fork-salad retains ASIC warehouse mining support, HF supporters will change PoW, and reset difficulty. Just need to get it listed to Polo, and you're off to the races. 

Wouldn't it be ironic?... if the "immutable 1MB ('cept for constant soft forks)" Bitcoin was mined in 4 gigantic chinese chicken coops... While the "higher max throughput" Bitcoin was highly decentralized with GPUs and stealing mining power and interest from ETH/ETC. It's a move in the game. We just haven't reached that point... yet.

[JayJuanGee]

Does anybody see it going below $600 within the next 24 hours?
This is very sad very sad indeed 

I'm betting down to somewhere around 420$ USD in the short term.  I think she'll be vigorously defended there and then rise to ATH in a long and steep bull run.

From where are you getting these figures, from out of your ass?

That is a pretty low amount, and didn't you already notice that $600 had been tested several times in the past month, and only successful once.. Sure it is possible to go down to $420, but that would almost be borderline territory in reversing the bull trend... but that is not what you are saying.  In the end, we gotta get by $500 first and even $550 and $600, so there are a few challenges before even getting to the $400s.

Pretty much...but a little before anything comes out the ass, gut instinct kicks in!  Probably more realistically high 400's. Within a range but I think it's a leg down before more up. Everyone's had a taste of the bull and wants more but patience is likely a virtue this summer.

Funny how guys feel better to quote themselves, even when they concede that they are just guessing in their predictions..

hahahahahaha   

Still a bit premature to be expecting that we are getting to $400s any time soon.  I'm not saying $400s is impossible, just that we gotta get through various resistance points first (and all that before prices reverse and resume their upwards trajectory).  I would think that mid $500s is a decent reversal point - but yeah, that's my sense at the moment, and not really based on too much of anything besides the appearance of overall ongoing upwards price pressures.

[adamstgBit]

http://8btc.com/thread-36622-2-1.html

this is a gr8 read.

my fav bit.

Bitcoin will have a hard-fork, eventually, I think. When bitcoin has a HF, there will be 2 chains after the fork and there will be 2 coins. It is almost guaranteed that some people will refuse the new chain and will remain on the old chain. There are enough people with significant amounts of bitcoin who will never agree to a fork and can afford to keep mining the old chain. Ethereum demonstrated this issue very well. In bitcoin it will be much bigger, because the “old” bitcoin may be worth as much as all of ethereum (1 billion USD). It will not undermine bitcoin’s value very much, but it will cause some chaos with users, wallets and exchanges. This is why a HF needs to be very carefully planned and executed with plenty of advance notice. We also need to learn from Ethereum and consider adding some anti-replay defenses to help users maintain separation of the two chains in their wallets.

I think hes right eventually we will HF but hes exaggerating the possibility of a chain split as a result IMO. if Core is supporting 2MB hardfork when the time comes ( in like 2years? ), i dont see a chain split as a possibility. I guess maybe there could be some die hard group that rejects the fork with <1% hashrate...but its not like the HF is proposing to alter the immutable blockchain, or something equally ridiculous. I disagree with the idea of adding some anti-replay defenses, the other chain should be viewed as INVALID, and there's no use catering to an invalid chain...

A 5%-hash chain of BTC will be producing blocks at something like ...200 minutes. And with difficulty adjustment in 10 months (which will not fix the issue) it'll be DOA.

A strong miner majority hard fork to a bigger max_block_size would be much more likely to dominate in Bitcoin vs Ethereum's DAO bailout fork, directly because of the difference in difficulty adjustment. A good point, which can't be overstated. Core won't be supporting the HF though. Any change from Core, from here on out, will be a soft fork. And with some clever programming tactics, you can do just about anything you can imagine with a SF. Just need a half dozen miners on-board with Blockstream CTO Maxwell's the sole repo's roadmap to activate it.

It would require proof-of-work change and diff starting from a lower point. So then you have 3 coins and the one is unusable.

There is going to be a split Bitcoin one way or the other... if HF supporters get mining support, the 1MB4EVA clan will change PoW and reset diff... and if 1MB4EVA + soft-fork-salad retains ASIC warehouse mining support, HF supporters will change PoW, and reset difficulty. Just need to get it listed to Polo, and you're off to the races.  

Wouldn't it be ironic?... if the "immutable 1MB ('cept for constant soft forks)" Bitcoin was mined in 4 gigantic chinese chicken coops... While the "higher max throughput" Bitcoin was highly decentralized with GPUs and stealing mining power and interest from ETH/ETC. It's a move in the game. We just haven't reached that point... yet.

my perception is that there simply is no support for the  1MB4EVA  people.

economic majority isn't in that camp... ( we saw the open letter )
the miners certainly aren't int that camp
and the devs are not in that camp either.
most devs, outside of core, aren't in that camp
and i'd bet devs that contribute to core dont even put themselves in that camp
is Gmaxwellhouse really saying "4EVA"

1MB is not here to stay, but its here for now, and its not a big deal.

[JayJuanGee]

Does anybody see it going below $600 within the next 24 hours?
This is very sad very sad indeed 

I can see it, but I wear glasses, too.

Well f me and call me willy!
There goes my house!

I hope that you are not leveraged in bitcoin. 

Surely , we gotta prepare for price movements and corrections in either direction, no?  O.k..  we are getting close to a 10% correction from $660... but even a 20% correction, could be within the cards.  I personally believe that there is going to be some trouble getting below $550 for any sustainable period of time, but we get surprised in bitcoin land, nearly all of the time, no? 

Maybe one of the most predictable things in bitcoin is that most guys cannot really predict too well, especially the short term?  But in the long term, it still seems that we are going to be going up, and maybe even breaking the ATH within the next couple of years - at least I hope so....   but if we float (and maybe even bounce around a bit) between $500 and $700 for the next 12 months that is not necessarily a bad thing, is it?

I know a lot of us got our space suits and boots washed, ironed and ready for travel, but yeah, a bit of a delay,no?