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

[aesma]

Wasn't something supposed to happen on October 1st. I've got no time to follow this, last time I was vacationing...

BitcoinGold alt fork. Not sure the date tho.

October 25.
That's what's there on their homepage now. http://btcgpu.org/

Ah ah that's my birthday, gold !

[aesma]

If the market really supports this Segwit2x upgrade, that coin will trade at a higher price. And then we will all agree which is Bitcoin and which is a minority fork. There will be no contention at that point."

In the same time everyone is asking how btc will be the 'true bitcoin' with 5-10% of the hashrate?

The hashrate is important but not everything. For example BCH can have a lot of hashrate at some points but it never had such a high price. In fact when the hashrate goes up, the price goes down (most miners are dumping).

It is arguable that dumping miners are doing the opposite of supporting a coin.

[bitebits]

Full text of Christine Lagarde of IMF to the BoE the other day:

https://www.imf.org/en/News/Articles/2017/09/28/sp092917-central-banking-and-fintech-a-brave-new-world

In between the cheerleading for centralizing order (and consequently increasing the power of her office over humanity - whodathunkit?), she makes some comments on cryptocurrencies. Interestingly, it shows that she really does understand at least some of the mechanics thereof. If perhaps unable or unwilling to acknowledge how irrelevant it may render her organization. Nevertheless, interesting reading.

Thanks for sharing, Lagarde sees what is coming and why:

citizens may one day prefer virtual currencies, since they potentially offer the same cost and convenience as cash—no settlement risks, no clearing delays, no central registration, no intermediary to check accounts and identities.

[fragout]

The dip is gathering pace. $4250 is the resistance line so hopefully it will hold. Is there any news event that us peasants dont know about yet that triggered this or is it just your standard manipulation

[vroom]

The dip is gathering pace. $4250 is the resistance line so hopefully it will hold. Is there any news event that us peasants dont know about yet that triggered this or is it just your standard manipulation

I have not found any possible FUD source. quite the contrary. tomorrow on 4th october ledgerx starts their business. is this dump an attempt to get an better entrypoint for ledgerx customers?

source: https://ledgerx.com/wp-content/uploads/2017/09/LedgerX-40.2a-Certification-DABS-Final.pdf

[JayJuanGee]

Has everyone decided what to do with their S2X fork coins? Could this be the version that backdoors onto Wall street ETF-style?

If I understand it correctly we will not be able to use 2x coins without replay protection. transfering 2x coins without replay protection also transfers your bitcoins.

fuck that!

Actually, the coins can be splitted, but they must be tainted by newly mined coins. While this option can be included  in the wallets updates, I am not sure if this will be done by all major exchanges. In the past they required replay protection, we will see this time what they decide. Anyway, for some time nobody will know what the price of the 2 bitcoins should be, which may lead to another bearish fall during the days/weeks of uncertainty. At least this happened after the announcements about the BU fork. Now again the two sides for pollitical reasons are refusing to make mandatory replay protection. If Lee's advice is followed, the new 2x thing should be altcoin like BCH:
"So Coinbase is forced to support both forks at the time of the hardfork and need to let the market decide which is the real Bitcoin. Now the question is which fork will retain the “BTC” and “Bitcoin” moniker and which will be listed as something separate. Although Coinbase signed the NYA agreement, I do not believe that this agreement binds them in any way with respect to how to name the separate forks. For practical reasons, the BTC symbol belongs to the incumbent, which is the original chain. This is because there will be no disruption to people who are running Bitcoin Core software and depositing/withdrawing BTC to/from Coinbase and GDAX. And only if you trade the coin on the 2x fork, would you need to download and run the BTC1 Segwit2x client.
If the market really supports this Segwit2x upgrade, that coin will trade at a higher price. And then we will all agree which is Bitcoin and which is a minority fork. There will be no contention at that point."

In the same time everyone is asking how btc will be the 'true bitcoin' with 5-10% of the hashrate?

I believe that in this tweet, ledger is describing how they anticipate supporting both forks with a kind of forced split that only allows transacting on one of the sides of the split, perhaps?

https://twitter.com/BTChip/status/896056752948486148

[Meuh6879]

A fork on October 25, another on November 18. That's fun.

the real challenge is 1 month later ... when the blocks are generate "correctly" and "regulary".

[JayJuanGee]

A fork on October 25, another on November 18. That's fun.

the real challenge is 1 month later ... when the blocks are generate "correctly" and "regulary".

It's going to take a month to sort out?  I kind of care about that.

[Dabs]

source: https://ledgerx.com/wp-content/uploads/2017/09/LedgerX-40.2a-Certification-DABS-Final.pdf

Interesting.. No, I have nothing to do with that. Really.

[Torque]

When is the hardfork? And is it like the previous one? That I need to transfer from exchange to wallet?

November. Coinbase will probably be forced to support it right away. It's their mess.

https://www.reddit.com/r/Bitcoin/comments/73v4nm/charlie_lee_how_coinbase_and_other_exchanges_will/

Coinbase is forced to support both forks at the time of the hardfork and need to let the market decide which is the real Bitcoin.

Yeah, I stopped reading at 'forced to support'. So has the fascism around Bitcoin already started? 'Forced to support' new forks that are potentially harmful? Anyone can create a fork, so it doesn't mean you need to support every single one of them that comes along. It doesn't mean that 'they' can ram it down our throats and we just have to live with it. That's complete bullshit.

How about the Bitcoin economic majority are 'forced to support' their sorry asses right out of business by never using their services again?

Vote with your money and your feet.

Edit: And if anyone in Bitcoin believes that all this constant 'forking' is completely normal behavior in order to improve Bitcoin, they are delusional. It is being done to attempt to divide the community and eventually derail/topple Bitcoin. Nothing more and nothing less. Their goal is to de-value and marginalize Bitcoin completely. The proof in what I'm saying will be when we get passed Nov and into next year, and yet there will be talk of more and more future forks. No existing chain will ever be good enough, even though the system we have now is working perfectly fine (actually better than fine) for all the actors involved.

[d_eddie]

Edit: And if anyone in Bitcoin believes that all this constant 'forking' is completely normal behavior in order to improve Bitcoin, they are delusional. It is being done to attempt to divide the community and eventually derail/topple Bitcoin. Nothing more and nothing less. Their goal is to de-value and marginalize Bitcoin completely. The proof in what I'm saying will be when we get passed Nov and into next year, and yet there will be talk of more and more future forks. No existing chain will ever be good enough, even though the system we have now is working perfectly fine for all the actors involved.

The matter is it's quite cheap to mount a half-assed fork if you have some miner support. Keeping the value of the forked chain up is a totally different story. It's a hellishly long and costly business. That's where BCH stumbled, and that's where 2x will falter too, IMO.

[Torque]

Edit: And if anyone in Bitcoin believes that all this constant 'forking' is completely normal behavior in order to improve Bitcoin or make a better Bitcoin, they are delusional. It is being done to attempt to divide the community and eventually derail/topple Bitcoin. Nothing more and nothing less. Their goal is to de-value and marginalize Bitcoin completely. The proof in what I'm saying will be when we get passed Nov and into next year, and yet there will be talk of more and more future forks. No existing chain will ever be good enough, even though the system we have now is working perfectly fine for all the actors involved.

The matter is it's quite cheap to mount a half-assed fork if you have some miner support. Keeping the value of the forked chain up is a totally different story. It's a hellishly long and costly business. That's where BCH stumbled, and that's where 2x will falter too, IMO.

I believe there are nefarious actors behind the scenes that are willing to burn money in order to derail Bitcoin. Their goal is not to 'make money', that's just a cover. They have millions of fiat at their disposal. Plus the havoc and confusion they are reeking in the public eye alone is almost enough to fulfill their mission statement.

[becoin]

Edit: And if anyone in Bitcoin believes that all this constant 'forking' is completely normal behavior in order to improve Bitcoin, they are delusional. It is being done to attempt to divide the community and eventually derail/topple Bitcoin. Nothing more and nothing less. Their goal is to de-value and marginalize Bitcoin completely. The proof in what I'm saying will be when we get passed Nov and into next year, and yet there will be talk of more and more future forks. No existing chain will ever be good enough, even though the system we have now is working perfectly fine for all the actors involved.

The matter is it's quite cheap to mount a half-assed fork if you have some miner support. Keeping the value of the forked chain up is a totally different story. It's a hellishly long and costly business. That's where BCH stumbled, and that's where 2x will falter too, IMO.

I believe there are nefarious actors behind the scenes that are willing to burn money in order to derail Bitcoin. They have millions of fiat at their disposal.

All they are welcome. I convert all the fiat they burn to support forks price into bitcoins. Hopefully there will be hundreds of bitcoin forks in the future. Future is bright!

[d_eddie]

The matter is it's quite cheap to mount a half-assed fork if you have some miner support. Keeping the value of the forked chain up is a totally different story. It's a hellishly long and costly business. That's where BCH stumbled, and that's where 2x will falter too, IMO.

I believe there are nefarious actors behind the scenes that are willing to burn money in order to derail Bitcoin. Their goal is not to 'make money'. They have millions of fiat at their disposal. Plus the havoc and confusion they are reeking in the public eye is almost enough to fulfill their mission statement.

Right, but if derailing fails (which it very well might), the nefarious actors end up enriching their very adversaries and giving them more power. Risky business, even if you've got millions to burn. I'm optimistic medium term. Maybe too much optimism?

[Torque]

Maybe too much optimism?

Maybe. Let's say you're a Bitcoin first timer and you want to buy some bitcoin. You create a Coinbase account, log in, and whaaat? There are two different bitcoins? Bitcoin (Segwit), and Segwit2X?

Segwut? Why are there two bitcoin versions? Which am I supposed to buy? And what's this Bitcoin Cash thing I'm also hearing about? It's not listed here. So where do I go to buy that?

Which version do merchants support? Do they accept all of them, or just some of them?

This all just too confusing. I think I'll pass and just buy this ETH stuff.

[BlindMayorBitcorn]

So to summarize: The deep state conspired to mind-wash an old man to murder people as a false flag, and it's also trying to kill Bitcoin with airdrops.

Got it.

[Dabs]

Obscenely rich nefarious actors are better off buying tons of bitcoin from dark pools or direct elsewhere and dumping the market in exchanges. This will drive the price down. You don't enrich anyone except whoever you originally bought the bitcoin from.

[Torque]

So to summarize: The deep state conspired to mind-wash an old man to murder people as a false flag, and it's also trying to kill Bitcoin with airdrops.

Got it.

Do you ever wonder why no other cryptocurrencies are under this much pressure and contention with constant forks and spam attacks? You should wonder. Or y'know, you could put your head back in the sand.  

[conspirosphere.tk]

I believe there are nefarious actors behind the scenes that are willing to burn money in order to derail Bitcoin. Their goal is not to 'make money', that's just a cover. They have millions of fiat at their disposal. Plus the havoc and confusion they are reeking in the public eye alone is almost enough to fulfill their mission statement.

You know what? I see through their bluff and I'm ready to sink with the BTC ship in case it happens. I already did it in previous 90% crashes. I won't sell cheap, and likely I won't sell the most anyway until I find a safe way to not pay sh*t to the tax extortionists and I find a better use for my coins.

[ragnar0k]

My apocalypse theory on how Segwit2x will go (but fingers crossed I am wrong)
- it starts, all miners are on 2x but nobody cares, miners start panicing
- Whale wobbles around and decides to send the money to whale n.2. The whale fucks up and sends money to segwit2x. All of a sudden SW2x will be worth >1bn. The whale notices it lost 3/5 of the money on the process.
- The whale will contact Forbes, which will make a long and painful article on how bitcoin is unreliable and shit, as they always said
- Bitcoin drops 60%

<Add MTGox bearish market for n years>