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Question: Feb. 28 Closing Price:
<$1,000 - 9 (8.2%)
$2,600-$2,800 - 4 (3.6%)
$2,800-$3,000 - 6 (5.5%)
$3,000-$3,200 - 4 (3.6%)
$3,200-$3,400 - 6 (5.5%)
$3,400-$3,600 - 6 (5.5%)
$3,600-$3,800 - 14 (12.7%)
$3,800-$4,000 - 10 (9.1%)
$4,000-$4,200 - 19 (17.3%)
$4,200-$4,400 - 6 (5.5%)
$4,400-$4,600 - 7 (6.4%)
>$6,000 - 19 (17.3%)
Total Voters: 110

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21041619 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. (10 posts by 5 users deleted.)
bones261
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November 12, 2017, 06:25:24 PM

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

Why would do you assume they will not voluntarily mine BCH? They see this as an opportunity to get much more money for electricity spent. It will be over in a few hours anyway:

Code:
Coin Date (UTC 24h) Remaining Change
BCH Nov 12th, 21:09 3 hours, 2 minutes (131 blk) +400.00%

No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%.

Why wouldn't they be able to sell their BCH within 12 hours? With blocks coming in at 1 per minute, you can move from pool to market in a few minutes. Furthermore, F2Pool makes it easy for you. They give the miners the option to pay you in BTC instead.
Its a wham, bam, thank you ma'am proposition. Don't worry, most of the miners will be leaving the BiTcH, shortly.
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jojo69
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November 12, 2017, 06:26:20 PM

The recent low barely brought us to mid channel, if it holds it may well have set the bottom for the next parabolic-er run.  Nothing even remotely worrying here.



1 day candles, log scale
BlindMayorBitcorn
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November 12, 2017, 06:26:34 PM

If you hold the same amount (in coins) of BTC and BCH basically nothing has changed for you.

A few days ago they held a combined USD of ~7800 and it's the same now (though it's currently down to ~7500 but was touching 8000 a few hours ago)

Totally irrelevant.
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November 12, 2017, 06:28:52 PM

Can you name one advantage BCH offers over LTC or other ALTs?
Simple. Bitcoin Cash is purely Bitcoin. Shitcoins be shitcoins. Not too hard, is it?

Your supreme leader disagrees with you.
pfrtlpfmpf
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November 12, 2017, 06:31:17 PM
Last edit: November 12, 2017, 06:52:43 PM by pfrtlpfmpf

Jadda, jadda.

Imagine, a newbie is asking himself: Wtf ?
Place a suitable amount into bitcoin.
Bitcoin is way too volatile, but "bitcoin gold" gives him the stability.

Where would he place his money ?

Hmm ?



It´s about stability !   FTF : Fuck The Forks !

Ups, just realized, that bitcoingold was a fork itself.
But now it´s over, no ?  Smiley




Last of the V8s
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November 12, 2017, 06:31:40 PM

when is that rumored new Japanese mining hardware supposed to come out?

couple weeks after Hashfast ship Grin
no um it is v uncertain - this may have been big talk. 7nm is tricky for years to come

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

Time to do your duty, son.

You first.

You two would be better off making a K-pop video
that'll show 'em
Punisher1314
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November 12, 2017, 06:33:58 PM

Fork.lol

76 BitCH blocks remaining until difficulty readjustement.
BTC chain will be 3x times more profitable in about an hour and a half.
BCH price about to RE-test 0.2 BTC/BCH support right now.

Popcorn.jpg

Why so worried peeps? Grin

bones261
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November 12, 2017, 06:43:58 PM

Fork.lol

76 BitCH blocks remaining until difficulty readjustement.
BTC chain will be 3x times more profitable in about an hour and a half.
BCH price about to test 0.2 BTC/BCH support right now.

Popcorn.jpg

Why so worried peeps? Grin



Yes, it appears that Ver, Wu and friends doubled down on an 11 a hard 16 and ended up getting an ace a face. (Dealer isn't going to bust either...)

Edit: Fixed that for myself.  Grin
thisisntbic
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November 12, 2017, 06:47:19 PM


Why so worried peeps? Grin


This^

Hasn't the weekend dump been happening (for the most part) on a weekly basis for months, if not years? Who cares if it's goes into BCH, or ETH, or LTC, or (insert other coin here).

https://www.youtube.com/watch?v=0sPvylTPCv8

(edit - grammar/typos)
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November 12, 2017, 06:52:27 PM
Last edit: November 12, 2017, 07:05:41 PM by Gab0


This is why I don't see any problem with the fees. If you can't afford those fees just use fiat banking. Bitcoin is for people that do value their money, financial freedom and privacy.


Your vision of what should be bitcoin, is far from being the one that initially captivated so many people, developers, investors, etc...
In a third world country, it is really important to have a payment system that is not banked. At the beginning bitcoin was very useful and very popular for those reasons. I do not plan to pay my coffee with bitcoin (and I hope I can do it with LN at some point), but every day bitcoin loses more and more utility in my country. And I'm frustrated to see that every day bitcoin becomes a tool for large investors, banks or investment funds, and ordinary people, on the street, are excluded.
And it seems to me, according to my humble opinion and what I have researched, that an increase to 2MB of block size is far from representing a danger or a problem to decentralization (especially when working on the optimization of block size) .
This increase would be a gesture of goodwill towards the community and would avoid all these discussions and hatred.

Fees are high - apart from the spam attack -, because demand for blockspace is higher than the supply (and always will be). 2MB/4MB/1024MB wouldn't change it, there are near infinite demand for using the blockchain's utilities; time will always be an unchangeable limit for competing transactions, no matter the blocksize.

Stop bitching about it, that is what called free market, those who value the utility/time/cost of their transactions will outcompete those who do not, same as with every goods/services with free market valuation.

Also, how are high fees a sign of failure?
Classic socialist person thinking:
"this restaurant is full, it is clearly failing because I can not eat here, RIGHT NOW, for the price i esteem "FAIR" for a table, bruh bruh "
Sorry, you just got outpriced by the market.


It really is a bad analogy and does not seem to understand free market capitalism. On the other hand, his vision condemns the countries of the third world to stay out of this system, which seems to me an erroneous idea if we want bitcoin to be successful.

The free market means, among other things, free competition. Bitcoin competes for the network effect, and so far only outperforms other currencies by the inertia of being the first. If there is another currency that is able to satisfy the demand, adapting its offer and offering a fair price, consumers will prefer to opt for it.
And that's exactly what is happening now (and I'm not talking about BCH).
My concern is far from being considered as socialist, I worry about the competitiveness of bitcoin, and its usefulness.

What is the use of a decentralized bitcoin if nobody uses it because it is too expensive (transaction fees)? We must maintain the balance between decentralization and utility with the tools we have in our hands.
I really hope that LN is a success, but we still do not have it and we do not know when it will not be operational.
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November 12, 2017, 06:54:49 PM

New ATH in two weeks ?
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November 12, 2017, 06:55:35 PM

You have the balls to say that paying high fees is financial freedom. FREEDOM  
Otherwise I can go back to banksters, why? Different faces, same slavery problem
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November 12, 2017, 06:56:48 PM

This is not a nice place to be now. Bcash is toxic and has caused major problems.

This thread has become divided and I for one am not enjoying coming here anymore.

I hope you bcash twats are happy. I'm off.
They are. That's the idea. Stick around. They don't want clonecoins to succeed so much as they want bitcoin to fail. This is an actual war and it can not be won by running off.
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November 12, 2017, 06:59:01 PM

BitCoin is strong as fuck! I've just seen 1000 BTC sell wall (roughly 6.xx million) eaten away as a pie  Cheesy
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November 12, 2017, 06:59:57 PM

This is why I don't see any problem with the fees. If you can't afford those fees just use fiat banking. Bitcoin is for people that do value their money, financial freedom and privacy.

In other words: 3rd world, go f*** yourself.

But honestly i think it's good that we finally are able to clearly see what the underlying differences are what Bitcoin should be and what not. My impression is that lots and lots of folks still don't understand that there is a big gap in the Bitcoin community when it comes to that.
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November 12, 2017, 07:00:21 PM

What is the use of a decentralized bitcoin if nobody uses it because it is too expensive?
wat the derp

I mean the fees per transaction. I expressed wrong.
BlindMayorBitcorn
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November 12, 2017, 07:03:44 PM

What is the use of a decentralized bitcoin if nobody uses it because it is too expensive?
wat the derp

I mean the fees per transaction. I expressed wrong.

Fees are high because there's a spam attack. There's no trick to it. It's just a simple trick.
Last of the V8s
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November 12, 2017, 07:04:44 PM

https://gateway.ipfs.io/ipfs/QmSJm9XGHXyxRaMFfLN2scunbMyopCU7xPxz3WQHLfLKQy/#/
 
Bitcoin Security Threat Model
A security review of the Bitcoin cryptocurrency
JWWeatherman
October 2017


Ibian
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November 12, 2017, 07:06:40 PM

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side
It's a little thing called morals.

I'm not fucking kidding. Puling others down is their thing. We build ourselves up. Basic difference in psychological profiles.
BlindMayorBitcorn
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November 12, 2017, 07:09:08 PM

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side
It's a little thing called morals.

I'm not fucking kidding. Puling others down is their thing. We build ourselves up. Basic difference in psychological profiles.

No I think Gentlemand is right. There's no incentive. No one uses the damn thing.
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