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

[Last of the V8s]

https://youtu.be/TcweVMiR1aE
Alex Petrov of bitfury v interesting

He's buggered off. What was the gist?

well you probably know the gist: asic efficiency has pretty much peaked, and this will lead to mining decentralisation - we are at peak centralisation
also bitfury and bitmain much better at bitcoin asics than intel or amd - would take them 3-5 years to catch up

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[bikerleszno]

What is wrong with blockchain? Over 100 000 transactions :/ waiting

[bitserve]

What is wrong with blockchain? Over 100 000 transactions :/ waiting

It is the right moment to do an spam attack. What else?

It would be no surprise the mempool reaches or even surpass 200.000 unconfirmed txs in the next 24 hours before Segwit activation.

Also blocks have been coming slower with some pools directing a significant part of their hashrate to BCH mining.

Nothing to see here.

[Last of the V8s]

https://youtu.be/TcweVMiR1aE
Alex Petrov of bitfury v interesting

He's buggered off. What was the gist?

well you probably know the gist: asic efficiency has pretty much peaked, and this will lead to mining decentralisation - we are at peak centralisation
also bitfury and bitmain much better at bitcoin asics than intel or amd - would take them 3-5 years to catch up

he went on to be quite pro segwit2x still (49 businesses, 95% miners bla blah), but said they'd need technical help from core! i'd better not infer anything from that

[kurious]

https://youtu.be/TcweVMiR1aE
Alex Petrov of bitfury v interesting

He's buggered off. What was the gist?

well you probably know the gist: asic efficiency has pretty much peaked, and this will lead to mining decentralisation - we are at peak centralisation
also bitfury and bitmain much better at bitcoin asics than intel or amd - would take them 3-5 years to catch up

he went on to be quite pro segwit2x still (49 businesses, 95% miners bla blah), but said they'd need technical help from core! i'd better not infer anything from that

Doesn't look like that 'help' will be forthcoming soon...

[HanvanBitcoin]

CAD almost didn't dip? How is that?

Maybe we Canadians are less panicky.  

Lies. Just admit it Jimbo, you bought them all 

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[bitserve]

There have been 3278 blocks mined since the hard fork.
(196 blocks ahead of the original chain)

The Bitcoin Cash blockchain is currently operating at 30% of the original chain's difficulty.

The original chain has grown 2.63GB more than the Bitcoin Cash blockchain.

It is currently 136.1% more profitable to mine on the original chain.




So now what.... Pump price again? Wait for difficulty lowering again? Keep mining on a loss... again?

What was the plan again?

P.S.: I am asking honestly, I still have coins to sell.

[HanvanBitcoin]

SEGWIT LOCKED-IN! - ACTIVATION PERIOD:

SegWit activation this period? YES!
Activation expected at ≈Thu, 24 Aug 2017 00:45:44 GMT.

Still 183 blocks needed for SegWit to activate.
Activation period is at 90.9%.

[jbreher]

Is the community going to want to recognize BCH as the "one and only?"  

Time shall tell...

Some muddle-headed millionaire forked off an alt. What's all the excitement about? I don't get you sometimes.

I get that you don't get me. Then again, you don't get Bitcoin Cash. Perhaps you are too locked into this echo chamber?

It is not that 'some muddle-headed millionaire forked off an alt'. Rather, a significant fraction (absolute magnitude unknown) got tired of arguing over the proper route forward for Bitcoin, and did something about it.

Better yet, several scant days into the project, all is going according to plan. That's where the excitement lies.

Though you did get a bonus of between 5% and 40%, depending upon when you hopped off. And you're complaining about it. I don't get you sometimes. XD

1. He is a muddle headed millionaire. He's also an egotistical megalomaniac, "I was the first investor", I'm the biggest shareholder", "I know about economic code", "homogeneous is another word for privacy", etc, etc.

2. What did this "significant fraction" do? Ah yes, congested the network with spam to drive transaction fees up, which the muddle headed clown then proceeds to blame the core team for, banging on about a horrible user experience.

3. All is going according to plan? What, coordinated pumps of BCC at the same time as dumping BTC to drive the price of the shitcoin up so they get more BTC for it? Great plan, excellent.

Whoosh. There it goes. Over your head.

Anyways....

Of course, I realized the implication was about Roger Ver. Here's the thing though. Roger had zero to do with the creation of Bitcoin ABC, which ended up the catalyst that kicked this big block initiative over the hump. Sure, he likes it, but he was not -- and is not -- a driving force to its creation. This is a team effort. By a rather large team.  Hence my comment about this here echo chamber.

[BlindMayorBitcorn]

There have been 3278 blocks mined since the hard fork.
(196 blocks ahead of the original chain)

The Bitcoin Cash blockchain is currently operating at 30% of the original chain's difficulty.

The original chain has grown 2.63GB more than the Bitcoin Cash blockchain.

It is currently 136.1% more profitable to mine on the original chain.




So now what.... Pump price again? Wait for difficulty lowering again? Keep mining on a loss... again?

What was the plan again?

P.S.: I am asking honestly, I still have coins to sell.

Lots of people still have coins to sell. The flood gates haven't even opened yet.

[BlindMayorBitcorn]

Is the community going to want to recognize BCH as the "one and only?"  

Time shall tell...

Some muddle-headed millionaire forked off an alt. What's all the excitement about? I don't get you sometimes.

I get that you don't get me. Then again, you don't get Bitcoin Cash. Perhaps you are too locked into this echo chamber?

It is not that 'some muddle-headed millionaire forked off an alt'. Rather, a significant fraction (absolute magnitude unknown) got tired of arguing over the proper route forward for Bitcoin, and did something about it.

Better yet, several scant days into the project, all is going according to plan. That's where the excitement lies.

Though you did get a bonus of between 5% and 40%, depending upon when you hopped off. And you're complaining about it. I don't get you sometimes. XD

1. He is a muddle headed millionaire. He's also an egotistical megalomaniac, "I was the first investor", I'm the biggest shareholder", "I know about economic code", "homogeneous is another word for privacy", etc, etc.

2. What did this "significant fraction" do? Ah yes, congested the network with spam to drive transaction fees up, which the muddle headed clown then proceeds to blame the core team for, banging on about a horrible user experience.

3. All is going according to plan? What, coordinated pumps of BCC at the same time as dumping BTC to drive the price of the shitcoin up so they get more BTC for it? Great plan, excellent.

Whoosh. There it goes. Over your head.

Anyways....

Of course, I realized the implication was about Roger Ver. Here's the thing though. Roger had zero to do with the creation of Bitcoin ABC, which ended up the catalyst that kicked this big block initiative over the hump. Sure, he likes it, but he was not -- and is not -- a driving force to its creation. This is a team effort. By a rather large team.  Hence my comment about this here echo chamber.

I get that you're a really smart guy. But I still don't get it.

[jbreher]

Is the community going to want to recognize BCH as the "one and only?"  

Time shall tell...

Some muddle-headed millionaire forked off an alt. What's all the excitement about? I don't get you sometimes.

I get that you don't get me. Then again, you don't get Bitcoin Cash. Perhaps you are too locked into this echo chamber?

It is not that 'some muddle-headed millionaire forked off an alt'. Rather, a significant fraction (absolute magnitude unknown) got tired of arguing over the proper route forward for Bitcoin, and did something about it.

Better yet, several scant days into the project, all is going according to plan. That's where the excitement lies.

Though you did get a bonus of between 5% and 40%, depending upon when you hopped off. And you're complaining about it. I don't get you sometimes. XD

1. He is a muddle headed millionaire. He's also an egotistical megalomaniac, "I was the first investor", I'm the biggest shareholder", "I know about economic code", "homogeneous is another word for privacy", etc, etc.

2. What did this "significant fraction" do? Ah yes, congested the network with spam to drive transaction fees up, which the muddle headed clown then proceeds to blame the core team for, banging on about a horrible user experience.

3. All is going according to plan? What, coordinated pumps of BCC at the same time as dumping BTC to drive the price of the shitcoin up so they get more BTC for it? Great plan, excellent.

Whoosh. There it goes. Over your head.

Anyways....

Of course, I realized the implication was about Roger Ver. Here's the thing though. Roger had zero to do with the creation of Bitcoin ABC, which ended up the catalyst that kicked this big block initiative over the hump. Sure, he likes it, but he was not -- and is not -- a driving force to its creation. This is a team effort. By a rather large team.  Hence my comment about this here echo chamber.

I get that you're a really smart guy. But I still don't get it.

::le sigh:: I hope you and NewWorldCoiner aren't the same person. I assume not. Anyway...

My view of Bitcoin Cash is that it is simply Bitcoin with Bitcoin's most crippling flaw addressed. As such, I expect it to -- in not a lot of time -- become nearly-universally viewed as the One True Bitcoin.

I understand that others see things differently. But can you 'get' that -- given the hypothesis in the preceding paragraph as an axiom -- that this would be somewhat exciting?

[deepcolderwallet]

Bottom at $3200?

I started shorting Bitcoin. Kinda weird to say but I hope BTC dies.  Take profit target at $3k.

Congrats for being squeezed.

[HanvanBitcoin]

Bottom at $3200?

I started shorting Bitcoin. Kinda weird to say but I hope BTC dies.  Take profit target at $3k.

Congrats for being squeezed.

Destination F*CKED hahaha 

[El duderino_]

Bottom at $3200?

I started shorting Bitcoin. Kinda weird to say but I hope BTC dies.  Take profit target at $3k.

Congrats for being squeezed.

😂 Target +5k 💥

[HanvanBitcoin]

Lots of people still have coins to sell. The flood gates haven't even opened yet.

Today I learned that there are - from what Kraken tell me - new regulations in that only allow Tier 4 individual accounts to withdraw $100k USD fiat per year.

To withdraw more than $100k in fiat, you need to apply for a corporate account.

Sheeit.

Wish I knew that before I signed up and started all this.

Ouch, well atleast you can purchase BTCitcoins with your remaining fiat on Kraken and send them away 

[bitserve]

Lots of people still have coins to sell. The flood gates haven't even opened yet.

Today I learned that there are - from what Kraken tell me - new regulations in that only allow Tier 4 individual accounts to withdraw $100k USD fiat per year.

To withdraw more than $100k in fiat, you need to apply for a corporate account.

Sheeit.

Wish I knew that before I signed up and started all this.

Well, withdraw those 100K USD from Kraken and get to other exchanges for the rest.... or convert to Bitcoin or whatever altcoin you feel like.... Or just hold... I have the feeling that the pumps have not ended yet.

[BlindMayorBitcorn]

Exchanges are sticky.

[jbreher]

Today I learned that there are - from what Kraken tell me - new regulations in that only allow Tier 4 individual accounts to withdraw $100k USD fiat per year.

To withdraw more than $100k in fiat, you need to apply for a corporate account.

That is a new revelation to me as well. I moved a buttload from Coinbase to Kraken merely because of Bitcoin Cash support. This restriction after the fact is going to be painful. As if the performance of Kraken's trading engine wasn't painful enough...

[jbreher]

Exchanges are sticky.

Like flypaper.