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

[Gyrsur]

Wanna know what's gonna happen?
This SegWit2x will be an epic fiasco.
Wu/Ver/Wright credibility will be buried for good.
Let's wait 'till July 31.

EDIT: Finally I have an avatar.

Wright? What's his connection with SegWit2x?

https://coingeek.com/risks-segregated-witness-opening-door-mining-cartels-undermine-bitcoin-network/

https://news.bitcoin.com/risks-segregated-witness-opening-door-mining-cartels-undermine-bitcoin-network/

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[bitserve]

Core represents a centralized point in our ecosystem

Core team is the only real counterweight to centralization in ASIC production.

I do agree. But I don't see any reasonable technical or political reason for core to not be on board Segwit2x.

If it is only because of the blocksize increase that's nonsense, we will need that increase too even if Segwit will mean way better scaling.

[Gab0]

Decentralization is not only a feature of the protocol, but also of the entire ecosystem. Core represents a centralized point in our ecosystem, it dosent matter how many developers they have, since the ethics and philosophy behind them is that constitutes "Core".

If Core checks out, which isn't really possible as they're a fairly loosely allied bunch, then you'd probably be left with developers in the pockets of miners and economic players.

That smells rather more centralised to me.

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

[deepcolderwallet]

Wanna know what's gonna happen?
This SegWit2x will be an epic fiasco.
Wu/Ver/Wright credibility will be buried for good.
Let's wait 'till July 31.

EDIT: Finally I have an avatar.

Wright? What's his connection with SegWit2x?

Where have you been in last 48 hours?

[gentlemand]

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.

[Torque]

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.

My bet is on a few selfish opportunist miners getting compromised (i.e., bought) WAY before a large, loose group of idealistic volunteer developers would.

It's pretty easy to spot the people who sell out (and/or get bought). They are the ones promoting changes that fly in the face of decentralization, enhancing their control and benefiting themselves the most.

[bitserve]

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.

My bet is on a few selfish opportunist miners getting compromised (i.e., bought) WAY before a large, loose group of idealistic volunteer developers would.

It's pretty easy to spot the people who sell out (and/or get bought). They are the ones promoting changes that fly in the face of decentralization, enhancing their control and benefiting themselves the most.

But what would be the problem of that? I mean, BITMAIN already has control (direct+indirect) over 50% of Bitcoin. They can play all games they want, but if Bitcoin crashes for their stupidity (51% attack) they will be worthless. Of course, I would be much more relaxed when the mining markets becomes more decentralised with more big players. It will also be a sign of a more mature market.

[Torque]

Let's put it this way. If any future Bitcoin developers end up on Bitmain's payroll (either directly or covertly), then you might as well kiss Bitcoin goodbye because it'll be fully compromised by that point.

On another note: we are finally seeing some upward movement.  

[bitserve]

Let's put it this way. If any future Bitcoin developers end up on Bitmain's payroll (either directly or covertly), then you might as well kiss Bitcoin goodbye because it'll be fully compromised by that point.

On another note: we are finally seeing some upward movement.  

Aren't most principal Bitcoin developers already rich enough so that it would not be that easy to bribe/derail them from their own interest/investment?


And yes, I am expecting a new ATH when all the clouds around this scaling issue are gone (which would probably happen in less than a week from now).

[DanielRamos1]

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.

New York City + bitdevs + bitcoin core = * ... u do the maths

[bitserve]

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.

New York City + bitdevs + bitcoin core = * ... u do the maths

Enuff with the cryptic posts!!!  

If you really have something to say, just say it damn it!

[Bitcoinaire]

The day we cease to speak about this topic will be a good day. On another note, the price had a nice spike and hopefully can run wild again soon.

[natgeomancer]

Let's put it this way. If any future Bitcoin developers end up on Bitmain's payroll (either directly or covertly), then you might as well kiss Bit[Suspicious link removed]dbye because it'll be fully compromised by that point.

On another note: we are finally seeing some upward movement.  

Well price went up again at $2,601 but I sold some before at $2,609 and no regrets, income is income.. Still waiting for more pumps and new ATH.

[STT]

On another note: we are finally seeing some upward movement. 

Yea Im not sure about that.  Sure positive and its come past resistance but its still got business to sort out.   Its bit messy to do this but a rough downtrend still can be drawn forming lower highs.  The surge upto 3000 is not included in that but thats kinda a thing that we see magnet effect in attraction and repelling from a point like 3000 and otherwise we have a negative trend to navigate.    Could be Im wrong just guessing but as it goes back to June start in this fast market its best to watch
So right this second its drifting past 2,600 as if nothing and that'd see the back of that negative trend idea.   2500 is rough resistance and now support so there is two points to gauge strength

Tonight Huobi looks most positive

[jaberwock]

Digging the new uptrend, hopefully it'll last and continue upwards.

Will we see BTC steadily over $3000 soon?

I don't know, some altcoins gained lots of value, the recent rise could be people taking profits and going back to Bitcoin. Still need more time to call it a uptrend.

[JimboToronto]

Digging the new uptrend, hopefully it'll last and continue upwards.

Will we see BTC steadily over $3000 soon?

New uptrend?

It's the same old uptrend we've had for 22 months.

Surely you're not calling last week's little correction and short-lived Bitmain panic a downtrend, are you?

[TeeBone]

So basically, 2X delays the Great Showdown for 3 months ? I cannot see Core backing the 2nd step (2mb), so i dont see any of them coming out in favor of 2X, unless they lie (doubtful) just to get SegWit in place. I cant wait til all this shit's over, but scaling will always be an issue just like we're still scaling the internet.

[bitserve]

So basically, 2X delays the Great Showdown for 3 months ? I cannot see Core backing the 2nd step (2mb), so i dont see any of them coming out in favor of 2X, unless they lie (doubtful) just to get SegWit in place. I cant wait til all this shit's over, but scaling will always be an issue just like we're still scaling the internet.

Why not back it? It is obvious we do also need a moderate (2x) blocksize increase even if Segwit is much more important for scaling.

On other news: http://www.investopedia.com/news/congress-bill-require-declaration-digital-currencies-us-border-bitcoin-homeland-security/

[JayJuanGee]

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.

Oh you weren't at the Barry, Roger, Jihan, Craig Wright meeting?

They seem to have assisted some catalyst,and we may be getting some variation of segwit first, possibly in the near future?

[Elwar]

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.

From the headlines I've seen...Segwit2x is like calling the surveillance law the PATRIOT Act. It does not mean what you think it means. People agreed on it thinking it was Segwit plus 2Mb blocks. This is not so.