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Question: Is this the last time Bitcoin will be below $9,000?
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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21720420 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (147 posts by 36 users deleted.)
DeathAngel
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November 11, 2017, 01:39:49 PM

Significant dump this is, it’s not going to get much worse though, surely. I hope 6k stays strong.
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November 11, 2017, 01:40:49 PM
Last edit: November 11, 2017, 01:58:57 PM by BitcoinBunny

Bitcoin Cash going towards $1500. Kraken won't even load.
There is a huge lure here to transfer BTC to BCH quickly to try to make some more BTC if you sell before the dump.

Problem is when the ATH of BCH is reached is anyone's guess. I was considering doing this yesterday and sell before midday tomorrow (BST). But it is very risky. Transfer services such as Kraken will most likely not be online when you want to switch.

But a BCH dump will definitely come. There is totally no infrastructure to back this bump. Bitcoin has payment gateways all over the world. BCH is a joke. Most of its value was held probably because many don't even know or some don't even dare to cash out with potential risk that was involved.

Wouldn't surprise me BCH reaches $2500. BTC $5400. And then BHC smashes down to $350 Monday morning. BTC back up to $7500.

BTC could have FOMO momentum to push it beyond 8K early this week.
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November 11, 2017, 01:42:24 PM

Significant dump this is, it’s not going to get much worse though, surely. I hope 6k stays strong.
Set up my last buying order at 6k. Hope you are right.
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November 11, 2017, 01:42:39 PM

Why BTC devs dont change the PoW so that BTC depend less from miners than now?

Why do we run BTC nodes? If we depend on miners to confirm transactions, what is the use in downloading the entire blockchain to your computer? Should not the nodes confirm those transactions too?

The impression I have is that bitcoin is being kept hostage from miners.
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November 11, 2017, 01:42:57 PM

As most in here know, in crypto, epic pumps are always followed
by spectacular crashes. Will this be any different?
I suppose one's prediction depends on whose camp one is in....
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November 11, 2017, 01:51:10 PM
Last edit: November 11, 2017, 04:00:34 PM by LewisPirenne

As to why S2X future even has values, it's the reason that people have stated before.  That is, in order to sell your S2X future when it goes live a month ago, you need to split your coins into BT1 and BT2.  Now when that BT2 is worthless at 5 mbtc as news came out, people buy back (short cover) BT2 to re-combine with BT1 so that they can get back their original BTC and tx out of Bitfinex.  Because seriously, who would want hold BTC a minute longer than needed on Bitfinex?   Thus there is more people who want to buy back their BT2 to tx out than the losers who got rekted, but refused to realize loss, and hoped that some S2X dev will copy-paste BCH's EDA and replay-protection, so that they can at least hope for a pump later.  

When S2X future is almost worthless, you are taking counterparty risk by holding that contract and keeping your BTC on Bitfinex.
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November 11, 2017, 01:55:51 PM

Its so obvious to all here that BCH pump is Ver/Wu but probably not to the average investor. Im really disillusioned atmo that a very small group can manipulate an entire market in this way.
He even announced it on twitter before the pump. "#BitcoinCash will win wider adoption than 1MB Segwit Bitoin shortly." 19 hours ago.
Possible with fake money too such as the 30 million tether that was issued a few days ago.


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November 11, 2017, 01:58:09 PM

BCH already dumping back to BTC.
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November 11, 2017, 02:01:06 PM

This is all a huge conspiracy to detract from the
epic Bitcoin Gold launch!... the one and only true bitcoin!!

(That was a joke BTW.... Grin)
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November 11, 2017, 02:04:39 PM

Its so obvious to all here that BCH pump is Ver/Wu but probably not to the average investor. Im really disillusioned atmo that a very small group can manipulate an entire market in this way.
He even announced it on twitter before the pump. "#BitcoinCash will win wider adoption than 1MB Segwit Bitoin shortly." 19 hours ago.
Possible with fake money too such as the 30 million tether that was issued a few days ago.

The true irony is that the BCH supporters demand lower transaction fees, but they can't spend BCH at any merchants other than maybe a few obscure ones. Lol. That reality seems to be completely lost on them. Just like the ETH camp, they literally could give two shits that they can't spend ETH anywhere and probably never will be able to.
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November 11, 2017, 02:05:55 PM

I think that the competition between BTC and BCH is totally legitimate and can even benefit both chains. The two chains will be forced to offer greater utility and benefits to users, investors and miners.
BTC on the one hand is currently under pressure to keep fees low and launch LN, and BCH correct malleability problems to make way for second layer solutions and decentralize mining.
The strongest and fittest chain will survive.

The true irony is that the BCH supporters demand lower transaction fees, but they can't spend BCH at any merchants other than maybe a few obscure ones. Lol. That reality seems to be completely lost on them.

That would change if Bitpay decides to accept BCH


Why BTC devs dont change the PoW so that BTC depend less from miners than now?

Because it's a much more controversial change than an x2 increase in block size?
BitcoinBunny
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November 11, 2017, 02:09:55 PM

Its so obvious to all here that BCH pump is Ver/Wu but probably not to the average investor. Im really disillusioned atmo that a very small group can manipulate an entire market in this way.
He even announced it on twitter before the pump. "#BitcoinCash will win wider adoption than 1MB Segwit Bitoin shortly." 19 hours ago.
Possible with fake money too such as the 30 million tether that was issued a few days ago.

The true irony is that the BCH supporters demand lower transaction fees, but they can't spend BCH at any merchants other than maybe a few obscure ones. Lol. That reality seems to be completely lost on them.

I only know about Bitmain and haven't seen anyone else implement it in payment systems or do anything with it.

Google trends indicate no one gives a flying pig about BCH, only a few (clever) investors it seems.
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November 11, 2017, 02:10:09 PM

As to why S2X future even has values, it's the reason that people have stated before.  That is, in order to sell your S2X future when it goes live a month ago, you need to split your coins into BT1 and BT2.  Now when that BT2 is worthless at 5 mbtc as news came out, people buy back (short cover) BT2 to re-combine with BT1 so that they can get back their original BTC and tx out of Bitfinex.  Because seriously, who would want hold BTC a minute longer than needed on Bitfinex?   Thus there is more people who want to buy back their BT2 to tx out than the losers who got rekted, but refused to realize loss, and hoped that some S2X dev will copy-paste BCH's EDA and replay-protection, so that they can at least hope for a pump later.  
Aha, a Bitfinex thing. Now I see!
I always hoped (and suspected) the S2X fork would be called off, so I didn't even try to play any splitting trick with S2X and wasn't aware of how finex dealt with the issue. Thanks for the explanation.
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November 11, 2017, 02:13:36 PM

Oh boy, this is just being the best short term trading weekend of my life! I just wake up and my BCH selling order at 0.21 BTC/BCH has been filled.

Do not worry guys, after the fork dates, the real Bitcoin will rise again and BCH will return where it deserves, this is just an usual correction for BTC, sponsored by BCH, we are only 17%~ away from the previous ATH, that is still nothing  Wink
True Myth
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November 11, 2017, 02:18:37 PM

Significant dump this is, it’s not going to get much worse though, surely. I hope 6k stays strong.
Set up my last buying order at 6k. Hope you are right.

I'm thinking bottom (of this dip) will be closer to 5.6k. But, this is my first post so, what do I know? I also don't have those magical "optimism charts".
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November 11, 2017, 02:33:53 PM

BCH gets new difficulty adjustment algorithm (as a replacement for EDA) in some days
BTC difficulty adjustment is in ~3weeks
until then mining BCH will be more profitable, currently 38.5% BCH in the last 24h

maybe the chain will freeze and we'll see an emergency pow update  Cheesy

let the war begin
LewisPirenne
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November 11, 2017, 02:43:13 PM

Even though it is 50%~70% more profitable to mine on BCH chain now, the split in hashrate between two networks are the same as previous EDA cycles, i.e. a max of 60% to 40% between BTC and BCH chain.  This means that just as there is a "mysterious miner" that is willing to mine BCH chain at a loss (often 30~40% without some EDA manipulation), there are also at least 6~7 exahash that is loyal to BTC chain since August and won't budge even if BCH entice them with 50% more profit.  

As far as I can tell, even though the mining pools behave as a cartel, the individual miners are as split as the bitcoin community itself in their preference for future scaling roadmap.  So there are quite a few Chinese miners who are highly skeptical of Jihan et al. even if they got to keep a polite relation to get their Antminers.  So when people press the nuke button with a PoW change, it also nuke the good guys who are still contributing around 60% of network hashrate, even when it's decidedly less profitable to do so.
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November 11, 2017, 02:46:22 PM

BCH gets new difficulty adjustment algorithm (as a replacement for EDA) in some days
BTC difficulty adjustment is in ~3weeks
until then mining BCH will be more profitable, currently 38.5% BCH in the last 24h

maybe the chain will freeze and we'll see an emergency pow update  Cheesy

let the war begin

The new difficulty adjustment algorithm for BCH is going to put the breaks on supersonic mining pretty quickly. What is likely to happen is that the difficulty will adjust to a Goldilocks zone. This will be where mining BCH is slightly less profitable than BTC, and only the two large mystery farms will be mining 90%+ of the blocks themselves. I could be wrong.
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November 11, 2017, 03:00:08 PM

All you guys scared of TrashCash need to remember, IT IS JUST ANOTHER ALTCOIN!

In order for it to "kill" bitcoin it has to convince the merchant service providers to switch from taking the true Bitcoin to taking the new BitchCash.  I would think this means that the merchants themselves would need to agree to the change. 
You also have to convince all exchanges to swap their market pairs to it as well.  I do not see that happening but to ensure it doesn't, we need to put pressure on those services to stick to the real one.

All TrashCash is right now is one really, really, really expensive and useless altcoin. 
Arriemoller
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November 11, 2017, 03:02:32 PM


If it is on your computer you should be able to do this i think. I don't think you have to be online to see your keys, anyway, just follow the steps and see if your keys appear.

1. Extract your private keys for your pre-fork BTG coins by following the appropriate steps in the list of providers below.

- Electrum
1) Open the menu "View" and click on "Show Addresses"
2) Then open the new tab "Addresses"
3) Right-click on the addresses that had Bitcoin before the fork, then click "Private key".
4) Click on the qrcode icon to show it.

Now that you got your private key(s) for the address(es) that contained BTC prior to the fork of August 1st:

2. Create a BCG wallet in coinomi.

3. Click on .../Sweep Wallet and paste or scan the BTC private key that you obtained in step 1.

Your forked coins should now appear in your Coinomi BCG wallet

You have to be joking?!? Paste the private key of your BTC stash into some internet site web form? This is insanity if you ask me.

Well, if you have a better answer to his question, please share. Otherwise you are just a whining nay sayer.
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