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

[BitUsher]

Excellent article

https://vinnylingham.com/the-power-of-the-invisible-hand-56efaedfb544#.jpte52ycc

Concerning market factors and price.

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[becoin]

not too sure why there is much doom and gloom.
 

There isn't. Couple of weeks ago we just had new ATH.
Bitcoin future is bright despite that industries and powers it replaces mobilize more and more resources to fight it.

[alexeft]

It's not 16MB, it's 16MB times 6 per hour, times 24 per day, times 365 per year!!!!!!!!!!!!!!!!
The result is close to 1TB per year!!!

Be still my heart! I'll need to spend $25* per year to handle the onslaught. How will I ever cope!?!

* or the cost of a handful of smallblock bitcoin transaction fees. oh-the-huge-manatee.png!

1TB of SSD disk is not $25, rather it is ~$200 (per year of course). Not to mention the cpu needed for such a huge database with high transaction volume!
All of a sudden we are going to need multi-CPU blade servers and SANs to run a node! Come to your senses!

Firstly, node operation does not require SSD latencies. HDD speeds are fine. So 25 bux. Yet... so what? Less than 0.2 BTC? Waaaaaah. Buck up buttercup - those that refuse to invest shall be rightfully cast aside. And good riddance to you too. It would be one thing if you even tried... but... I guess you're just too. damned. insignificant.

..................president............

A president? ... <tardness deleted>

I see you seem to love wallowing in your public display of ignorance. Suit yourself.... imbecile. When you actually absorb the reality, I'll be happy to respond in a more conducive manner.

Umm... yeah. Did you even bother to read your linked article? Not a president of Bitcoin, but a president of the organization. What are the president's powers and duties?:

President: a publicly identified (real-life identity is known) BU Member who is responsible for the ongoing activities of the confederation. The president shall resolve BUIP number conflicts, organize BUIP discussion (in the forum 5 of 12 designated by the secretary), and schedule/initiate voting (within the limits specified in these articles).

Oh god! I hope he doesn't abuse his power by actually ... ASSIGNING A BUIP NUMBER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! AAAIIIIEEEEEE!!!!!

A benevolent dictator believer!!! Please enlighten me with your infinite wisdom! 

Anyway, the way things are setup, one can be a dictator (president, sic..........) only on those who trust him to be one. Hence, there is no need to talk that much.

[alexeft]

I would like to post the dream I had just incase it happens later.

I literally just dreamed this and woke up.

Ok, so the volatility was insane. So basically the price went from where it is now (900's) and it kept dropping over a period of time. I don't know what the hell happened, but at some point it dropped all the way to near zero (!!!!) single digits, of course this only lasted a COUPLE SECONDS and it shot all the way back up to 672. Now here's where it gets interesting. The price kept moving rapidly although I'm sure this all happened over the period of some years. After this MEGA drop, it shot into the MULTIPLE thousands, I distinctly saw the number 2272. And then all of a sudden apparently for no fucking reason it shot all into the 10K per coin range. I was sitting there fucking absolutely stunned. It bounced off 10K back into the 5K per coin range.

In my dream I saw a thread titled:  "5000. We are talking about the number 5000." on this forum, bitcointalk.  And I was just sitting there so absolutely fucking stunned because I seriously just watched the price go from 900 to almost 0 back up to 10k and then settle in the 5K range.

Man, that dream was fucking nuts.

I'm not sure, but maybe just dreamed future price movements some years (?) I'm assuming in advance.

If something like this actually happens I will reference this dream later.

Well, it is expected that not everyone will be a friend of bitcoin (or altcoins for that matter). Some will also try to do damage, so much is inevitable.
This is one of those times and bitcoin will have to prove its antifragility properties.

If it does, it will be what you saw in your dream.


Come on guys. Hit is as hard as you can. Find the smartest, best enemy you can and hit it. Even paranoia is not out of bounds.

[hulla]

Finally, back to normal?

It could go to 700$ then to 1500$ within 5 months. It seems like a good time to sell and buy back from 950 USD to 850  USD.

No one know when the price of bitcoin will get back up and it could get back up anytime. But, I think the price move down to $994 due to the news of bitcoin splits in the wake of a hard fork which involves some duplicate of bitcoin going on in the system.

[STT]

not too sure why there is much doom and gloom.

Sure BU is a "threat" but bitcoin has faced many threats before and in the longer run it has weathered them all fairly well.

Why is Bitcoin unlimited a threat, its just competition and bitcoin has plenty of alternatives already in operation that would be happy to take over.  The threat would be from the number of miners who would switch and prefer to support that alternate system.   I guess that part is new as most coins start from nowhere.

Will we definitely end up with 2 tokens in equal amounts on 2 addresses, price wise that just seems to suggest the price halves and value overall is the same.   Some confusion as people switch or decide which coin to hold or use but not as bad as it might appear?

I would rather they make transactions compete in fees they pay for priority.   This will then give the smallest transactions business to alt coins where it probably belongs ?    The best solution is the most natural self adjusting.   Does my opinion mean I should sell BU if I get any?

[suzanne5223]

not too sure why there is much doom and gloom.

Sure BU is a "threat" but bitcoin has faced many threats before and in the longer run it has weathered them all fairly well.

Why is Bitcoin unlimited a threat, its just competition and bitcoin has plenty of alternatives already in operation that would be happy to take over.  The threat would be from the number of miners who would switch and prefer to support that alternate system.   I guess that part is new as most coins start from nowhere.

Will we definitely end up with 2 tokens in equal amounts on 2 addresses, price wise that just seems to suggest the price halves and value overall is the same.   Some confusion as people switch or decide which coin to hold or use but not as bad as it might appear?

I would rather they make transactions compete in fees they pay for priority.   This will then give the smallest transactions business to alt coins where it probably belongs ?    The best solution is the most natural self adjusting.   Does my opinion mean I should sell BU if I get any?

Wait a minute. Is BU another bitcoin or just a mining software cause I thought it was a software used to mine bitcoin.

[RayX12]

unbelievable all the doom and gloom here!  Shame on you all! 

In the mean time looks like BU is losing nodes.
https://coin.dance/nodes/unlimited

An market cap in historical term is still way up!
https://coin.dance/marketcap/historical

[European Central Bank]

unbelievable all the doom and gloom here!  Shame on you all! 

In the mean time looks like BU is losing nodes.
https://coin.dance/nodes/unlimited

nodes don't really mean a great deal. it's a vote that costs a few bucks a month to run on a vps for many people. many core nodes are just as meaningless.

[BTCtrader71]

unbelievable all the doom and gloom here!  Shame on you all! 

In the mean time looks like BU is losing nodes.
https://coin.dance/nodes/unlimited

Hashrate is the more relevant measure:
http://xtnodes.com/#bitcoin_classic_hashrate

[RayX12]

Well here is an interesting and positive comment and I agree with him:

https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-932#post-36337

As an outsider and investor I think this is a hiccup (power struggle) that will be over soon.  Obviously some markets, i.e. Bitfinex make a lot of waves to get more business during volatility.  In the end BTC is great and it is useful and it will prevail!

[alexeft]

unbelievable all the doom and gloom here!  Shame on you all!  

In the mean time looks like BU is losing nodes.
https://coin.dance/nodes/unlimited

Hashrate is the more relevant measure:
http://xtnodes.com/#bitcoin_classic_hashrate

Hashrate is the irrelevant measure. There are two cases, either one has 50%, or he doesn't.
In the first case bitcoin forks into bitcoin and another chain that lives or dies in relation to its design parameters.
In the latter case, bitcoin goes on.

In both cases, bitcoin goes on.

Whereas if nodes are lost, the extreme scenario is for bitcoin to be completely lost. Still, the idea will be with us forever.


So, nodes are important, hashrate is not.

[Searing]

So is Bu going to fork? Or has the alt coin designation by exchanges stopped further if any
more share. I've no clue, just wondering if after this "wiggling about in angst" if we are
just back to 2 more years of 1mb blocks and status quo "stagnation?

[Torque]

In the mean time looks like BU is losing nodes.
https://coin.dance/nodes/unlimited

Lol, it almost looks like BU nodes got PnD'ed! Is that a blow-off top I see? haha

[travwill]

So is Bu going to fork? Or has the alt coin designation by exchanges stopped further if any
more share. I've no clue, just wondering if after this "wiggling about in angst" if we are
just back to 2 more years of 1mb blocks and status quo "stagnation?

Seems that both BU is stuck with too low adoption to occur.  Also Segwit is stuck with too low adoption to occur (by miners at least).
(stuck around 65% core blocks mined and 35% BU blocks mined)

Thus, neither will occur until one gives up or there is compromise.  That is creating part of the confusion that will continue to exist - but hopefully the FUD around BU forking will dissapaint some.

[European Central Bank]

Hashrate is the more relevant measure:
http://xtnodes.com/#bitcoin_classic_hashrate

but again all that is is signalling. there's a whole bunch of difference between telling the world 'hey, i love unlimited' and actually going through with it. no doubt this wu guy would, but he'd need alot more people who are more likely to waver.

[chopstick]

In the mean time looks like BU is losing nodes.
https://coin.dance/nodes/unlimited

Lol, it almost looks like BU nodes got PnD'ed! Is that a blow-off top I see? haha

You know that Core is getting desperate when they are resorting to DDoS'ing BU nodes.

They are also DDoS'ing bitcoin.com

[Dafar]

I sold 54 coins... about half of my stash. I don't feel good about it at all guys    


I really want this BU mess to be over with, but at the moment there's too much uncertainty and lots of panic (not from me, but others). Some people are "voting" for segwit by dumping their coins hoping to punish the miners (Jihan Wu) into supporting segwit.


I want my bitcoins back.....  

[RAJSALLIN]

I sold 54 coins... about half of my stash. I don't feel good about it at all guys    


I really want this BU mess to be over with, but at the moment there's too much uncertainty and lots of panic (not from me, but others). Some people are "voting" for segwit by dumping their coins hoping to punish the miners (Jihan Wu) into supporting segwit.


I want my bitcoins back.....  

Sounds to me like you actually did panic

[gembitz]

BTU is an altcoin folks ..BTC is the real bitcoin... any questions?