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

[Torque]

At some point next year and for better or worse it's conceivable that 1 Bitcoin Gold may well be 'worth' more than 1 ounce of gold Gold.

How will this make you feel and what will the headlines look like?

Probably the same way that a BCH is worth more than 1 ounce of Gold. Like wtf, what a farce. 

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[barota]

Soon...
Today is BlackFriday and there is (luckily?) no big discount on BTC.
But the day is not over.
Lets hope the best  

I mean bitcoin will crash in moon
Bear and dump

[Rosewater Foundation]

At some point next year and for better or worse it's conceivable that 1 Bitcoin Gold may well be 'worth' more than 1 ounce of gold Gold.

How will this make you feel and what will the headlines look like?

Probably the same way that a BCH is worth more than 1 ounce of Gold. Like wtf, what a farce. 

It's the battle of the crazy cartel bosses. Who can pump their fork the highest?

[sirazimuth]

eternal love letter found in a reddit comment, really awesome:

https://blockchain.info/block/0000000000000000016f615859ca5cb88bb3983777df6f9f5ecbd57261cad454

Here's the text:

DayahDover11111111111111112JYRq2 0.00314159 BTC
YourPersona1ity1sUnmatched43YzMv 0.00314159 BTC
Your1nte11igenceJustShines4B7QFA 0.00314159 BTC
YouCanDoThingsFewPeop1eCan1G6NPV 0.00314159 BTC
AndYoureA1waysJustGorgeous2x1SyG 0.00314159 BTC
YouAreRea11yMyEntireWor1d116eypT 0.00314159 BTC
GivingMyLifeMeaningAndFun13pcr5P 0.00314159 BTC
Dayah7Px1kbs5x5cQbQMHtMm9wnUWJYTG 0.00314159 BTC
LoveYou1111111111111111111GPc4r 0.00314159 BTC
Forever11111111111111111113RMwCB

A love letter written on the blockchain with every address having an amount of mBTC equivalent to the value of pi. The nerd is strong in this one!

quite clever actually...
he was going to tattoo her name on his arse cheek
but thought maybe this would achieve the same effect
without repercussions, just in case she decided to bugger off with the milkman...

[fluidjax]

Spit and shake hands as much as you want, brother, but only signature with your private key counts in the end!

Nope. Go ask a lawyer. No matter which party ends up with the asset at the center of a smart contract dispute, that said ownership can still be challenged in a court of law. Smart contracts will not alleviate or nullify this.

Riddle me this: Since you and me never signed which jurisdiction is recognized in case of the dispute, and we may be from different countries, do you really believe jurisdiction of my country has power over you?

Riddle me this: Why or when would I ever go into a smart contract with you, knowing this? Lol

I think that there is a very narrow use case for smart contracts, multi-sigs, ICOs (probably a few more)  but as soon as the contract involves something happening in the real world, you need some oracle to give that information back to the contract.
This then becomes a weak point, a point where the outcome of the contract is not determined by the code, but by an external human entering the data into some system. This really negates the reason for having a smart contract, you may as well use the normal legal system, the rules have been honed over 1000's of years and are very good & fair.

[bitcoinPsycho]

OMG  the 2 hour optimism chart is saying $8500 by Sunday.can't wait

[HairyMaclairy]

Smart contracts are primarily for the financial system.  And the financial system is just starting to create crypto currency denominated financial instruments. JP Morgan issued a 7 day Ethereum denominated bond on the Ethereum blockchain last week.

The challenges Ethereum has are it’s currently too damn expensive to pay miners fees (called gas) to run smart contracts and the blockchain is bloating really fast.  So If the current price rise continues, Ethereum will restricted to high value financial instruments, pushing Ma and Pa onto Qtum or Eos or whatever.  

Here is one contender for a Bitcoin smart contract language, I don’t really know anything about it:  http://www.rsk.co   More info here:  https://www.coindesk.com/opening-testnet-to-public-rsk-announces-3-5m-funding/

I haven’t dug into the detail but isn’t Tether just a smart contract on Bitcoin?

[HairyMaclairy]

OMG  the 2 hour optimism chart is saying $8500 by Sunday.can't wait

Which chart is that?  I don’t know it.

[gembitz]

At some point next year and for better or worse it's conceivable that 1 Bitcoin Gold may well be 'worth' more than 1 ounce of gold Gold.

How will this make you feel and what will the headlines look like?

BTG is better than BCH because it's like gpu mined omg :-D backwards revolution<<<

[Dabs]

End of the month episode ... I'll be watching it anyway.

Is there anything wrong with end of the month episodes?

Not that I know of, I just meant it's airing on a future date. Markets may be affected after that date, although I don't know how much or what. That's at least 2 to 3 million viewers on that day, and a bunch more when it reruns or replays.

[xhomerx10]

eternal love letter found in a reddit comment, really awesome:

https://blockchain.info/block/0000000000000000016f615859ca5cb88bb3983777df6f9f5ecbd57261cad454

Here's the text:

DayahDover11111111111111112JYRq2 0.00314159 BTC
YourPersona1ity1sUnmatched43YzMv 0.00314159 BTC
Your1nte11igenceJustShines4B7QFA 0.00314159 BTC
YouCanDoThingsFewPeop1eCan1G6NPV 0.00314159 BTC
AndYoureA1waysJustGorgeous2x1SyG 0.00314159 BTC
YouAreRea11yMyEntireWor1d116eypT 0.00314159 BTC
GivingMyLifeMeaningAndFun13pcr5P 0.00314159 BTC
Dayah7Px1kbs5x5cQbQMHtMm9wnUWJYTG 0.00314159 BTC
LoveYou1111111111111111111GPc4r 0.00314159 BTC
Forever11111111111111111113RMwCB

A fancy coloured diamond would have been my preference...
And likely cheaper in the long term.

[Rosewater Foundation]

End of the month episode ... I'll be watching it anyway.

Is there anything wrong with end of the month episodes?

Not that I know of, I just meant it's airing on a future date. Markets may be affected after that date, although I don't know how much or what. That's at least 2 to 3 million viewers on that day, and a bunch more when it reruns or replays.

Torque and a few others expect a massive short second week of December. This could wreck a whole new bunch of newbs.

[jojo69]

He who can't tell a true story of Laszlo's for himself has never been and could never be considered an early bitcoin adopter.
I think most of us here have a Laszlo story to tell.

But we are here 

I personally bought a $100 amazon gift card for 3 BTC and thought I was smart.

those BFL singles were $1300...BTC was $13 at the time...you do the math

gonna set fire to Josh's dog and fuck his mom one day

[gembitz]

Soon...
Today is BlackFriday and there is (luckily?) no big discount on BTC.
But the day is not over.
Lets hope the best  

I mean bitcoin will crash in moon
Bear and dump

bear looking for hardrives? :-D weeee

[HairyMaclairy]

Difficulty adjustment has gone through. -1.5%.

BCH at $1715.  Let’s see if the rubber band snaps.

[bitserve]

Only times are when you can't easily replace the bitcoin right away, like liquidating for a big purchase or big down payment on something. Or you have to live off of it. That stings. And it should sting a little. It makes you a better money manager and saver.

Speaking of which, meeting with our money manager dude in May to discuss our finances, investments, and how I can use my existing BTC to allow for early retirement in late 2018. Partner will continue to work for a few more years.

I'm torn on how to divest my BTC for this early retirement purpose. My partner is strongly suggesting I divest several millions in one chunk towards institutional investing - guaranteeing I have the cash on hand until I can draw down on retirement funds at age 65.

I'm thinking it may be more wise to sell "smaller chunks" of BTC to last me a year-at-a-time instead - owing to the increasing value of BTC/USD.

Will figure something out.

What percentage does now represent your Bitcoin stash in comparison to your total net worth?

[itod]

Spit and shake hands as much as you want, brother, but only signature with your private key counts in the end!

Nope. Go ask a lawyer. No matter which party ends up with the asset at the center of a smart contract dispute, that said ownership can still be challenged in a court of law. Smart contracts will not alleviate or nullify this.

Riddle me this: Since you and me never signed which jurisdiction is recognized in case of the dispute, and we may be from different countries, do you really believe jurisdiction of my country has power over you?

Riddle me this: Why or when would I ever go into a smart contract with you, knowing this? Lol

Because we want to be a free men, not begging for the protection of the higher authorities, and leave our disputes for math to resolve it. I agree that smart contracts in it's present form are not particularly useful, but I'm convinced we will sooner or later see emergence of entities who's ownership of the stocks will be resolved on the blockchain, instead on government controlled stock markets. Your signature is your vote, etc.

[bitserve]

what's up with the ETH? why this pump?

Traders may just have decided it is time to pump ETH. OTOH since many alts are going up I rather think it is diversification: people who own more bitcoin than they feel comfortable holding through a bear market are moving some to alts.

... As if a Bitcoin bear market wouldn't affect altcoins greatly.

[bitserve]

As far as the law is concerned, I don't see why a clearly defined contract should not hold in law depending on what the application of it is. But I'm not a lawyer so that's not something that I can even speculate about given how absurd some of the loopholes over there are.

I thought the whole idea of the smart contracts is that they don't care about the law, the justice system can not turn them over. Contracts based on math, Honey badger don't care sort of thing, it either executes on the blockchain or not. What's the point of troubling with it if some judge can invalidate it?

That was a great idea... until Vitalik destroyed it by forking ethereum to invalidate the DAO contract and its results.

[DaRude]

Spit and shake hands as much as you want, brother, but only signature with your private key counts in the end!

Nope. Go ask a lawyer. No matter which party ends up with the asset at the center of a smart contract dispute, that said ownership can still be challenged in a court of law. Smart contracts will not alleviate or nullify this.

Riddle me this: Since you and me never signed which jurisdiction is recognized in case of the dispute, and we may be from different countries, do you really believe jurisdiction of my country has power over you?

Riddle me this: Why or when would I ever go into a smart contract with you, knowing this? Lol

HUH!?!! Because you both don't want lawyers to arbitrarily overwrite your smart contract?