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

[AlcoHoDL]

Why the fuck are RogerBucks up so much ? The hell is up with that shit ?

Cause speculation:

https://bitcointalk.org/index.php?topic=2259054.0
https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/

+ people shilling this speculation on social media

I just finished reading the open letter, and, I must admit, it scared the hell out of me. I have already sold all my Bitcoin Cash. I really wish things will not turn out the way the letter describes!

Wondering if we all should have kept our BCH...

Jimbo and jbreher may well turn out to be the smartest guys among us.

Don't worry, it's not the miners that decide, it's the users. VHS was big because everybody used it, not because it was the best system, Betamax was a lot better, but it died all the same.

EDIT: It's video tape systems, for all you young ones.

I like your VHS vs. Betamax example, but in our case I believe BTC (the original coin) is better than BCH for many reasons, so the analogy would be that Betamax had ended up being the dominant one, due to its quality as well as its widespread usage.

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[jbreher]

Coffee Bath

http://www.coffeeforums.com/forum/attachments/coffee-table/8165d1503503923-japanese-coffee-bath-resort-japan-not-good-news-topher-coffee.png

That might could work, Elwar. Where's that at?

https://www.yunessun.com/en/

coffee bath, wine bath..

Cool. I get to Kanagawa prefecture from time to time. Next visit, I'll have to take a sidebar west.

[AlcoHoDL]

[jojo69]

complete with craters...this thread delivers

[AlexGR]

It is indeed a well written piece of FUD. Let's face it, the Bitcoin Cash opposition is growing and will not be stopped any time soon. There are more and more Bitcoin Cash shills every day. I think Bitcoin Cash will continue to gain steam up until the fork, but what happens after the fork is anyone's guess. My guess is the Segwit1x fork will be crowned Bitcoin. Just hedge your bets and you will be OK.

If you've ever used BCH you'd realize there's nothing to hedge. Personally speaking, it's one of the most problematic altcoins I've ever used - and the only one where its marketcap stood out as insane compared to its inherent qualities.

-There are virtually no nodes to sync - you connect to bitcoin-core of the BTC chain and you get disconnected all the time.
-Blocks can take hours.
-On top of that exchanges require several confirmations, compounding the delay problem.

Anyone taking BCH for a spin cannot reach any other conclusion than "this is so broken it's not even funny". I don't know if they fixed anything in the software since launch, but the 0.14.something-abc I tried, was f'ed up pretty badly.

In terms of investment fundamentals, the threat of massive dumps if price becomes attractive to dump, again isn't funny. But that's what happens when people get "free coins". They are very happy to dump them if they are worth something. Some have strategically kept their BCH to inflict maximum damage to possible BCH pumping - and that's also not a good prospect for a potential investor.

BTC has just 4 mn coins to mine and that's it. With forked coins (whether BCH, BTG, S2X etc etc) the store-of-value-proposition is problematic because first they have to mine another 4 million coins as well (just like BTC), but the market also has to absorb millions of coins that will get dumped for BTC. And every time the price rises, the more incentive there is to dump free-fork-coins-for-BTC. There's an inherent uncertainty of unloading the bag first or holding it while it gets devalued by others dumping, so the game theory regarding store-of-value for forked coins is not very good...

[Arriemoller]

Why the fuck are RogerBucks up so much ? The hell is up with that shit ?

Cause speculation:

https://bitcointalk.org/index.php?topic=2259054.0
https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/

+ people shilling this speculation on social media

I just finished reading the open letter, and, I must admit, it scared the hell out of me. I have already sold all my Bitcoin Cash. I really wish things will not turn out the way the letter describes!

Wondering if we all should have kept our BCH...

Jimbo and jbreher may well turn out to be the smartest guys among us.

Don't worry, it's not the miners that decide, it's the users. VHS was big because everybody used it, not because it was the best system, Betamax was a lot better, but it died all the same.

EDIT: It's video tape systems, for all you young ones.

I like your VHS vs. Betamax example, but in our case I believe BTC (the original coin) is better than BCH for many reasons, so the analogy would be that Betamax had ended up being the dominant one, due to its quality as well as its widespread usage.

But since it didn't, I cant use that as an analogy. I can only use the user support as an analogy.

[Icygreen]

One of the key securities of Bitcoin is that it will not be successfully forked. If such an event were to occur it would mean it cannot be trusted and therefore die and become mutable. On principle alone we must go forward only with consensus to changes from the majority of users not hash power manipulation and FUD.
This will come down to what we believe in.
Lets talk about Lightning Network. Is it a patented solution that has the ability to shut down miners?

[Arriemoller]

One of the key securities of Bitcoin is that it will not be successfully forked. If such an event were to occur it would mean it cannot be trusted and therefore die and become mutable. On principle alone we must go forward only with consensus to changes from the majority of users not hash power manipulation and FUD.
This will come down to what we believe in.
Lets talk about Lightning Network. Is it a patented solution that has the ability to shut down miners?

I don't know, but if it does make mining unprofitable it might actually crash bitcoin, we need the miners.

[AlcoHoDL]

I like your VHS vs. Betamax example, but in our case I believe BTC (the original coin) is better than BCH for many reasons, so the analogy would be that Betamax had ended up being the dominant one, due to its quality as well as its widespread usage.

But since it didn't, I cant use that as an analogy. I can only use the user support as an analogy.

You're right, of course, I just wanted to point out the difference. In fact, being the better coin, there's even more incentive for BTC to win over BCH.

[Arriemoller]

I like your VHS vs. Betamax example, but in our case I believe BTC (the original coin) is better than BCH for many reasons, so the analogy would be that Betamax had ended up being the dominant one, due to its quality as well as its widespread usage.

But since it didn't, I cant use that as an analogy. I can only use the user support as an analogy.

You're right, of course, I just wanted to point out the difference. In fact, being the better coin, there's even more incentive for BTC to win over BCH.

Agreed.

[doc12]

It is indeed a well written piece of FUD. Let's face it, the Bitcoin Cash opposition is growing and will not be stopped any time soon. There are more and more Bitcoin Cash shills every day. I think Bitcoin Cash will continue to gain steam up until the fork, but what happens after the fork is anyone's guess. My guess is the Segwit1x fork will be crowned Bitcoin. Just hedge your bets and you will be OK.

If you've ever used BCH you'd realize there's nothing to hedge. Personally speaking, it's one of the most problematic altcoins I've ever used - and the only one where its marketcap stood out as insane compared to its inherent qualities.

-There are virtually no nodes to sync - you connect to bitcoin-core of the BTC chain and you get disconnected all the time.
-Blocks can take hours.
-On top of that exchanges require several confirmations, compounding the delay problem.

Anyone taking BCH for a spin cannot reach any other conclusion than "this is so broken it's not even funny". I don't know if they fixed anything in the software since launch, but the 0.14.something-abc I tried, was f'ed up pretty badly.

In terms of investment fundamentals, the threat of massive dumps if price becomes attractive to dump, again isn't funny. But that's what happens when people get "free coins". They are very happy to dump them if they are worth something. Some have strategically kept their BCH to inflict maximum damage to possible BCH pumping - and that's also not a good prospect for a potential investor.

BTC has just 4 mn coins to mine and that's it. With forked coins (whether BCH, BTG, S2X etc etc) the store-of-value-proposition is problematic because first they have to mine another 4 million coins as well (just like BTC), but the market also has to absorb millions of coins that will get dumped for BTC. And every time the price rises, the more incentive there is to dump free-fork-coins-for-BTC. There's an inherent uncertainty of unloading the bag first or holding it while it gets devalued by others dumping, so the game theory regarding store-of-value for forked coins is not very good...

BUT BUT 5!!! Independent development teams  .  
No seriously this is probably the worst shitcoin in crypto top100. Any other shitcoin out there with same broken functionality and such shitty devs would be worth lese then 100 sats.

[European Central Bank]

Uh maybe they shoulda translated that fudfest into chinese?

I hope the current bunch of miners bankrupt themselves and we get some subservient ones to replace them.

They'll know their place second time around.

[gembitz]

$8OOO per BTCBTCBTCBTCBTCBTC

 

====> moooooooooonnnnn!!!

[Icygreen]

Andreas A. supports lightning network solution over big blocks if that helps to ease anyone's mind.

[Arriemoller]

My take on these different fork coins is as follows: Although 2 MB blocks is not bad, BCH is dysfunctional and since it does not work properly, it's useless.

BTG really has no future, the idea of going back to using GPU:s for mining is a nice idea and full of bitcoin nostalgia. But there is already a bunch of coins that you can mine using your GPU, and BTG has no upside in relation to  those coins.

SW2X on the other hand has both big blocks and Seg Wit, and that is in my opinion better than BTC:s SW1X. However, their attempt to kidnap the bitcoin name with a hardfork with no replay protection and their poor dev team makes the majority of users dislike them. That and the fact that people because of the high BTC price likes status quo will probably make them fail.

[BlindMayorBitcorn]

Uh maybe they shoulda translated that fudfest into chinese?

I hope the current bunch of miners bankrupt themselves and we get some subservient ones to replace them.

They'll know their place second time around.

Buncha hired goons

[DeathAngel]

My take on these different fork coins is as follows: Although 2 MB blocks is not bad, BCH is dysfunctional and since it does not work properly, it's useless.

BTG really has no future, the idea of going back to using GPU:s for mining is a nice idea and full of bitcoin nostalgia. But there is already a bunch of coins that you can mine using your GPU, and BTG has no upside in relation to  those coins.

SW2X on the other hand has both big blocks and Seg Wit, and that is in my opinion better than BTC:s SW1X. However, their attempt to kidnap the bitcoin name with a hardfork with no replay protection and their poor dev team makes the majority of users dislike them. That and the fact that people because of the high BTC price likes status quo will probably make them fail.

Spot on with every point made here, couldn’t have put it any better myself.

[jojo69]

My take on these different fork coins is as follows: Although 2 MB blocks is not bad, BCH is dysfunctional and since it does not work properly, it's useless.

BTG really has no future, the idea of going back to using GPU:s for mining is a nice idea and full of bitcoin nostalgia. But there is already a bunch of coins that you can mine using your GPU, and BTG has no upside in relation to  those coins.

SW2X on the other hand has both big blocks and Seg Wit, and that is in my opinion better than BTC:s SW1X. However, their attempt to kidnap the bitcoin name with a hardfork with no replay protection and their poor dev team makes the majority of users dislike them. That and the fact that people because of the high BTC price likes status quo will probably make them fail.

Spot on with every point made here, couldn’t have put it any better myself.

except the 2MB typo for BCH, 8, but otherwise spot on

[fabiorem]

However, their attempt to kidnap the bitcoin name with a hardfork with no replay protection and their poor dev team makes the majority of users dislike them.

Not sure about the RP information diffusion because I see a lot of users talking about dumping B2X like they never read about RP in the first place, and why the lack of it is dangerous.

It seems they want to dump it despite the constant repetition that the lack of RP can create a dangerous situation for their own BTCs, as a malicious miner can replay the transaction on the mainchain.

They want to dump it simply because of the image of Garzik portrayed as a megalomaniac by the general consensus, or because it is "free coins". They forget the technicals or simply ignore it.

And this is happening at the same time as the sharks come in with their wallets full of fiat money to speculate in future markets.

[Arriemoller]

My take on these different fork coins is as follows: Although 2 MB blocks is not bad, BCH is dysfunctional and since it does not work properly, it's useless.

BTG really has no future, the idea of going back to using GPU:s for mining is a nice idea and full of bitcoin nostalgia. But there is already a bunch of coins that you can mine using your GPU, and BTG has no upside in relation to  those coins.

SW2X on the other hand has both big blocks and Seg Wit, and that is in my opinion better than BTC:s SW1X. However, their attempt to kidnap the bitcoin name with a hardfork with no replay protection and their poor dev team makes the majority of users dislike them. That and the fact that people because of the high BTC price likes status quo will probably make them fail.

Spot on with every point made here, couldn’t have put it any better myself.

except the 2MB typo for BCH, 8, but otherwise spot on

Eh, you know what I mean.