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Question: June 30 24-Hour High:
<$4,000 - 6 (7.5%)
$4,000-$4,500 - 0 (0%)
$4,500-$5,000 - 2 (2.5%)
$5,000-$5,500 - 3 (3.8%)
$5,500-$6,000 - 9 (11.3%)
$6,000-$6,500 - 10 (12.5%)
$6,500-$7,000 - 8 (10%)
$7,000-$7,500 - 7 (8.8%)
$7,500-$8,000 - 9 (11.3%)
$8,000-$8,500 - 7 (8.8%)
$8,500-$9,000 - 3 (3.8%)
$9,000-$9,500 - 0 (0%)
$9,500-$10,000 - 2 (2.5%)
>$10,000 - 14 (17.5%)
Total Voters: 80

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 20302423 times)
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Torque
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November 06, 2017, 03:09:57 PM

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The choice between the legacy bitcoin and 2x is a choice between a continuously proven and non-censorable store of value, and a provenly compromised store of value with temporarily lower transaction fees.

that CD opinion piece really nails it

And how about we add the non-existent 2x dev team? One lone wolf idiot programmer that has already abandoned the project is neither a 'dev' or a 'dev team'. How anyone with a brain would see this as the future version of Bitcoin is beyond logic or reason.
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November 06, 2017, 03:19:39 PM

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The choice between the legacy bitcoin and 2x is a choice between a continuously proven and non-censorable store of value, and a provenly compromised store of value with temporarily lower transaction fees.

that CD opinion piece really nails it

And how about we add the non-existent 2x dev team? One lone wolf idiot programmer that has already abandoned the project is neither a 'dev' or a 'dev team'. How anyone with a brain would see this as the future version of Bitcoin is beyond logic or reason.

I do not think the market, the miners or users who subscribe to the x2 consider btc1 as a long-term customer. Core has a lot of technical experience. Btc1 is a consequence to the requirement of a part of the market. I do not think it's a long-term solution.
Paashaas
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November 06, 2017, 03:28:50 PM

And how about we add the non-existent 2x dev team? One lone wolf idiot programmer that has already abandoned the project is neither a 'dev' or a 'dev team'. How anyone with a brain would see this as the future version of Bitcoin is beyond logic or reason.

Jeff had some spare time left to spin more 'zombie' nodes out of thin air.

This whole 2x is one major dogshit omfg man...        

           

The most disgusting is this one from BitPay...i'll never forget.. (BitPay still haven't activated Segwit but it is a fronliner to push this bullshit through users throat)  Shocked

julian071
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November 06, 2017, 03:54:14 PM

So, the consensus seems to be that this Segwit2x thing is going to be quite the clustefuck. What will that mean for the price? Is the upwards power of all the fresh fiat flowing in enough to prop up the price? Or should I dump everything now and buy back cheaper later?
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November 06, 2017, 04:07:05 PM

So, the consensus seems to be that this Segwit2x thing is going to be quite the clustefuck. What will that mean for the price? Is the upwards power of all the fresh fiat flowing in enough to prop up the price? Or should I dump everything now and buy back cheaper later?

If someone could say this with 100% certainty he would make a fortune. We have to wait and see.
My guess is, we will see a dip because bch/b2x supporters dump a lot btc. Once the dust settles and the attack is fought off there will be a big rebounce to a new ATH.
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November 06, 2017, 04:14:51 PM

OK motherfuckers, here is the plan;

Most of us are in the Northern hemisphere, and it's getting colder anyway.  Blow the dust out of all those long obsolete miners and point them at BCH for now, do NOT point them at BTC yet.

It is a small gesture compared to the attack farms to be sure, but for many of us it is all we can realistically do, aside from hodling and running full nodes.

Be ready at forktime and switch all hash to BTC, hey, you got to heat the house anyway right?

I know, drop in the bucket, but it can't hurt.
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November 06, 2017, 04:19:09 PM

And how about we add the non-existent 2x dev team? One lone wolf idiot programmer that has already abandoned the project is neither a 'dev' or a 'dev team'. How anyone with a brain would see this as the future version of Bitcoin is beyond logic or reason.

Jeff had some spare time left to spin more 'zombie' nodes out of thin air.

This whole 2x is one major dogshit omfg man...        

           

The most disgusting is this one from BitPay...i'll never forget.. (BitPay still haven't activated Segwit but it is a fronliner to push this bullshit through users throat)  Shocked



why you all Jeff haters ?  Grin  ~he is trusted leet core dev brah! Wink x2 = moon&mars!! <.< weeeeee
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November 06, 2017, 04:29:32 PM

As I type BTC prices are bouncing between $7200 and $7400 - so I am going to use $7,300 as a price reference.  So let's look what is our current price appreciation that has taken place since the "scaling debate really got heated":

1) $250   -  29.2x

2) $350 - 20.86 x

3) $450 - 16.22 x


So, yeah, these nut job big blockers have been arguing doom and gloom of bitcoin since before $250 and arguing "scale or die" until they have been blue in the face, and the market does not seem to give a ratt's ass about their supposed doom and gloom assessments.

In part, it's because bitcoin is scalable beyond the transaction per second metric.

A blockchain might be doing 50 tx/sec, with 10$ average value per tx.
Another blockchain might be doing 5 tx/sec with 1000$ average value per tx.

Over a year, the first will have done 15.7bn USD in volume, while the second will have done 157.7 bn USD in volume.

There are plenty of blockchains out there who are resembling the first case: Potential for a lot of tx/sec but they are either unused or have very low value. Bitcoin is escalating the avg transaction amount, upwards, thus scaling how much it transacts on a daily, weekly, monthly, or annual basis.

Estimated tx volume, per day, in USD: https://blockchain.info/charts/estimated-transaction-volume-usd

According to the stat, we've gone from transacting 200mn per day to ~2bn USD per day. That's 10x volume scaling in a year, with pretty much the same tx/sec (the bump from Segwit to 4mb is relatively recent so I'm not accounting for that).

At 2bn USD per day, we are talking about 730bn USD per year, which is >2 times what paypal did in 2016 (354bn).

Needless to say that this is also achieved in a manner more economical than paypal, since paypal gets 2-3% of the transacted amount. For 730bn USD transferred it'd take something like 15-25bn USD in fees, plus another 3% for currency exchanges for people transacting in different currencies.
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November 06, 2017, 04:42:57 PM

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The choice between the legacy bitcoin and 2x is a choice between a continuously proven and non-censorable store of value, and a provenly compromised store of value with temporarily lower transaction fees.

"#Bitcoin was created so you can buy a Lambo. Not a cup of coffee #No2x"
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November 06, 2017, 05:09:09 PM

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The choice between the legacy bitcoin and 2x is a choice between a continuously proven and non-censorable store of value, and a provenly compromised store of value with temporarily lower transaction fees.

"#Bitcoin was created so you can buy a Lambo. Not a cup of coffee #No2x"
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Cool

why not both? lel
Ludwig Von
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November 06, 2017, 05:13:15 PM

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The choice between the legacy bitcoin and 2x is a choice between a continuously proven and non-censorable store of value, and a provenly compromised store of value with temporarily lower transaction fees.

"#Bitcoin was created so you can buy a Lambo. Not a cup of coffee #No2x"
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Cool

why not both? lel

Forget all these substitutes for small d...s. Buy the coffee shop instead... .
rolling
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November 06, 2017, 05:15:02 PM

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The choice between the legacy bitcoin and 2x is a choice between a continuously proven and non-censorable store of value, and a provenly compromised store of value with temporarily lower transaction fees.

"#Bitcoin was created so you can buy a Lambo. Not a cup of coffee #No2x"
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Buying coffee with Bitcoin is like using an armored truck and armed guards to protect your $5 payment for your Starbucks coffee.
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November 06, 2017, 05:21:19 PM

So, I have talked a little bit more with Coinomi about the upcoming fork to clear things up.
Here's what I have so far.

They will support both chains after the fork.
Bitcoin will still be called bitcoin and still be on the legacy chain.
They will  implement replay protection for SW2X on their wallets.
You will be able to claim your SW2x coins.

Sounds good to me, I will keep my coins there during the fork.

Thanks for the tips man!

You have any idea about the possible precautions that should be taken in order to get the new coins too?
Will it be something automatical? I know I was really angry to have lost my new shiny coins after last fork simply because I didn't respect the process for my electrum wallet... That's really a shame to know you've lost 10% of easy money like that Cry
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November 06, 2017, 05:30:51 PM

$7000 under attack! Smiley
BlindMayorBitcorn
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November 06, 2017, 05:33:58 PM

$7000 under attack! Smiley
shhhh
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November 06, 2017, 05:38:37 PM

Wondering if 6k will hold instead of 7k.  Guess right and be rewarded.
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November 06, 2017, 05:40:10 PM

Wondering if 6k will hold instead of 7k.  Guess right and be rewarded.

Guess wrong and get roached out of the market...
Ted E. Bare
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November 06, 2017, 05:43:42 PM

Are we rich yet? Huh
arklan
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November 06, 2017, 05:44:33 PM

Most decidedly not rich yet.
Ted E. Bare
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November 06, 2017, 05:45:05 PM

Time for haircut

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