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

[explorer]

What most forget is Bitcoin is programmable.  There's no reason it can't adopt any new great discovery with enough consensus of the people that use it.  That's one of the things that makes Bitcoin great.  A bar of gold isn't going to change into something more usable ever.

Ya, bitcoin develops at the speed of light, so no problem.

*block size*

 *cough*


The people that use it don't seem to matter in the least.

[gentlemand]

What most forget is Bitcoin is programmable.  There's no reason it can't adopt any new great discovery with enough consensus of the people that use it.  That's one of the things that makes Bitcoin great.  A bar of gold isn't going to change into something more usable ever.

Ya, bitcoin develops at the speed of light, so no problem.

*block size*

 *cough*


The people that use it don't seem to matter in the least.

Let's see what them extra layers deliver. You might get a personalised one that keeps your cat company while you're out raving for all we know. That's where the action should be happening in future.

[OWZ1337]

and Bitcoin Core 0.16 may support Segwit Address Only : https://github.com/bitcoin/bips/blob/master/bip-0173.mediawiki

So it will be impossible to redeem paper wallets on core in the future? I thought we would have two systems working in parallel.

i thought we were forking segwit away as it's not proven it's worth~ i think we need to fork back lol

[JayJuanGee]

All I can say is wow, 628 Billion Market cap.  Money seems to be pouring in the crypto space.

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

Yeah... You better sell your bitcoin and put your value into one of those other coins.

Surely, bitcoin is dead.. and going to be surpassed in the very near future... in other words, the only way is down for bitcoin relative to various other alts.   

I never sell bitcoin. But, I have some useless fiat laying around.

A distinction without a difference, no?  Whether you sell some of your bitcoin to buy altcoins or you use your fiat to buy altcoins rather than buying bitcoin, doesn't that behavior result in a similar dynamic, that you are getting diverted from bitcoin and removing your eye from the prize by pumpity nonsense including thoughts that there happens to be actual fundamentals beyond some of the nonsense pumps, whether you are thinking about ripple, or ethereum or bcash or some other nearly equal nonsense?

[Arriemoller]

ATM in Hong Kong:

If this is real, for some reason, you see that bitcoin.com is stamped on the top of the bitcoin ATMs.  Does anyone consider that as strange? 

Are folks believing that Bitcoin.com is a legitimate entrance into information about bitcoin?

There seem to be quite a few folks who get confused by this kind of information, including supposed legitimacy in a name, such as bitcoin.com (which is really nearly a full fledged attack on bitcoin, no?)

Looks like some photoshoped fuse boxes to me.

[JayJuanGee]

What most forget is Bitcoin is programmable.  There's no reason it can't adopt any new great discovery with enough consensus of the people that use it.  That's one of the things that makes Bitcoin great.  A bar of gold isn't going to change into something more usable ever.

Ya, bitcoin develops at the speed of light, so no problem.

*block size*

 *cough*


The people that use it don't seem to matter in the least.

GET out of here with your stupid-ass BIG BLOCKER propaganda nonsense.


SHEW, YOU!!!!

[criptix]

All good boys they said 20+ k in January 2018 

Who the fuck is "they"?

And, how the fuck do "they" know?


Speaking of fuck, you come off as a fucking troll.   

Zzzzzz
Maybe that is the result of holding BTC for 4 years.

Just read the last 50 pages again and tell me how many people did not call 20++ k in january.


I would have give ten thousands of $ if someone could have guided me correctly through 2014 but oh well i had to learn the hard way.


Ps: I am one of your secret fans because like me you hold through the whole shit show until now.

[somac.]

All I can say is wow, 628 Billion Market cap.  Money seems to be pouring in the crypto space.

Yes but very little is going into bitcoin, I hate to say it but I wonder if this year bitcoin will lose it's number one place seems like bitcoin is being specifically avoided by the pumpers. So man other coins have a straight vertical line on their charts, some have gone up 100 times in a matter of about a week.

Yeah... You better sell your bitcoin and put your value into one of those other coins.

Surely, bitcoin is dead.. and going to be surpassed in the very near future... in other words, the only way is down for bitcoin relative to various other alts.   

I never sell bitcoin. But, I have some useless fiat laying around.

A distinction without a difference, no?  Whether you sell some of your bitcoin to buy altcoins or you use your fiat to buy altcoins rather than buying bitcoin, doesn't that behavior result in a similar dynamic, that you are getting diverted from bitcoin and removing your eye from the prize by pumpity nonsense including thoughts that there happens to be actual fundamentals beyond some of the nonsense pumps, whether you are thinking about ripple, or ethereum or bcash or some other nearly equal nonsense?

Not if you divert those profits back into bitcoin

[Arriemoller]

I got a letter from the taxman the other day saying I owe the state the equivalent of 10 cents, that's slightly less then the postage .

Send 'em BTC 0.000007 

I have to correct myself, it was the equivalent of about 1 USD, and I have since found out that I don't have to pay it. Anything below 12 USD will just be transfered to next years tax form.

That's what happens when you drink and post.

[RoomBot]

I got a letter from the taxman the other day saying I owe the state the equivalent of 10 cents, that's slightly less then the postage .

Send 'em BTC 0.000007 

I have to correct myself, it was the equivalent of about 1 USD, and I have since found out that I don't have to pay it. Anything below 12 USD will just be transfered to next years tax form.

That's what happens when you drink and post.

BULLET DODGED!  That BTC .000007 will be worth 20 cents next year.  HODL!!!

[HairyMaclairy]

Ether on a pump will retake #2 spot from cRipple soon

Oh where oh where have all the cRipple shills gone?

[xhomerx10]

https://cointelegraph.com/news/us-dollar-will-end-2017-as-worst-year-since-2003-while-bitcoin-is-up-1372

I wish that was 16:9

wallpaper material right there

edit:
 hope you like white



Bitcoin colour seemed more fitting

[Arriemoller]

I got a letter from the taxman the other day saying I owe the state the equivalent of 10 cents, that's slightly less then the postage .

Send 'em BTC 0.000007 

I have to correct myself, it was the equivalent of about 1 USD, and I have since found out that I don't have to pay it. Anything below 12 USD will just be transfered to next years tax form.

That's what happens when you drink and post.

BULLET DODGED!  That BTC .000007 will be worth 20 cents next year.  HODL!!!

Like always.

[Arriemoller]

What will happen to all those paper wallets in long storage if in the future core and others only support segwit?

If I go out in the garden in ten years and unearth my stash, how do I redeem it?

[HairyMaclairy]

What will happen to all those paper wallets in long storage if in the future core and others only support segwit?

If I go out in the garden in ten years and unearth my stash, how do I redeem it?

Not going to happen.  You will always have a way of redeeming legacy addresses. Core takes backwards compatibility very seriously.  

The alt market is here to stay - there is no putting the genie back into the bottle. But Bitcoin continues to have the strongest dev teams of all coins.  That makes its incumbent position almost impossible to overcome with features such as Lightning, Rootstock, Schorr, Dandelion etc.  And when the first Bitcoin ETF is announced, that will be the fuel-air bomb that sucks the oxygen from the alts bunker.   

[the artful bodger]

What will happen to all those paper wallets in long storage if in the future core and others only support segwit?

If I go out in the garden in ten years and unearth my stash, how do I redeem it?

Core usually supports importing most old format keys, and if you have a key format it can't import there's usually key converter software that can change it to a suitable format.

Make sure you have a stone age key format to segwit converter software installer buried somewhere in the garden as an insurance policy. If some new snazzy key format turns the segwit key format into a prehistoric artifact you will have to bury a second converter software installer in the garden as a second insurance policy.

[JayJuanGee]

All good boys they said 20+ k in January 2018 

Who the fuck is "they"?

And, how the fuck do "they" know?


Speaking of fuck, you come off as a fucking troll.   

Zzzzzz
Maybe that is the result of holding BTC for 4 years.

You are becoming a troll because you are becoming bored from holding BTC for 4 years?

I am missing some logic, here, no?

Just read the last 50 pages again and tell me how many people did not call 20++ k in january.

That comes off as a cop out.  Why you want to use vague language about what "they" predict, as if such generalizations and non-specificity accomplishes any kind of situation clarification?

I would have give ten thousands of $ if someone could have guided me correctly through 2014 but oh well i had to learn the hard way.

We all learn the hardway because no one fucking knows?  Oh yeah, maybe you know about 2014 now because it already happened, but fuck you and anyone else who claims that they knew any kind of specifics in 2014 ahead of time (beyond mere probabilities). 

  Are you now trying to suggest that we are entering into another 2014 like period?, as if you have some kind of meaningful insight regarding where "we" are going in the near term or the medium term or any term for that matter?

Ps: I am one of your secret fans because like me you hold through the whole shit show until now.

We can still be a fan of one another, and I suppose that I am just quibbling with some of your language because I have consistently asserted that I don't really know where BTC prices are going whether we are talking about now, or even my historical assertions.

Currently, I am feeling so elated about this whole bitcoin situation because more or less BTC prices are in a price arena that is about 3x to 4x higher than amongst my most bullish of anticipations... and we continue to have a lot of bullish indicators in our fundamentals.

Perhaps I am quibbling too much with your language, and perhaps you are saying (and even thinking) a lot of the same things as me, but just expressing yourself in ways that are quite different from me? 

Currently, I consider that we are in a consolidation period, but there continues to be a quite a bit of trade volume that demonstrates that this consolidation may not last much longer before it breaks one direction or another.  I have a little bit more confidence than doubt that BTC prices are going to break up rather than down, but even now, I do not hold a whole hell-of-a lot of confidence about the next price direction, so I remained prepared for both down and up.  If BTC prices go down, I buy.  If BTC prices go up, then I sell.  I do either in such small increments that my BTC to fiat ratio does not change a whole hell of a lot no matter what the price direction (I consider a kind of insurance practice). 

Are you predicting anything currently?  Ultimately, I agree that there are decent chances for $20k in January, but I am not making any BIG bets regarding that possible January outcome.

[LewisPirenne]

I think one of the reason why the Core team insists on soft fork and no hard fork is for backward compatibility, so that someone can still run their strip-down 0.5.3 node.

But I presume everyone already knows that if you bury those paper wallets in the backyard, it is going to turn into dust in a few years.  Same thing as if someone bury those fiat cash (non polymer ones), you will end up with only those shiny metallic security stripe.  Some govt/bank will allow you to exchange those metallic security stripe into new notes, but don't bet on it.

So if people insist on burying their paper wallet, use something like CryptoSteel or just stamp your private keys (part of it or "encrypted") onto metal sheets or AU kilobars.  

[explorer]

I think one of the reason why the Core team insists on soft fork and no hard fork is for backward compatibility, so that someone can still run their strip-down 0.5.3 node.

But I presume everyone already knows that if you bury those paper wallets in the backyard, it is going to turn into dust in a few years.  Same thing as if someone bury those fiat cash (non polymer ones), you will end up with only those shiny metallic security stripe.  Some govt/bank will allow you to exchange those metallic security stripe into new notes, but don't bet on it.

So if people insist on burying their paper wallet, use something like CryptoSteel or just stamp your private keys (part of it or "encrypted") onto metal sheets or AU kilobars.  

I like the Au idea    but metal detectors, you know.  I guess you bury it under or along something metal, like a gas line.  Watch them freak as you start digging up the gas line frantically in the middle of the night as BTC hits 6 digits 

[realr0ach]

What most forget is Bitcoin is programmable.  There's no reason it can't adopt any new great discovery with enough consensus of the people that use it.  That's one of the things that makes Bitcoin great.  A bar of gold isn't going to change into something more usable ever.

Add this quote to the stack of bugmen who are clueless about money.  No, it's not a good thing bitcoin is "programmable" and that you think it can morph into something else at any second.  That just means it's not fungible and will never be money.  Money is not supposed to be unpredictable and constantly changing, it's supposed to be boring and unchanging to provide some type of economic foundation.  You seem to think you can build an economic foundation with the equivalent of quicksand.

Alterations to the protocol - as we ALL KNOW by now - will never be unanimous, so even attempting to change it is stupid if you just get ten new bitcoin forks every year.  Since it's inevitable the coin will fork an enormous number of times, and PoW does absolutely nothing to stop or converge rough consensus attacks (aka forks or altcoins), it doesn't even have scarcity in the first place.  There's also the fact that a fee market doesn't work without artificial scarcity of block size, so the thing requires central bankers to act as a technocratic dictatorship and pull levers up and down behind the scenes.  Yes, bitcoin has central bankers you idiots.

Since there is no consensus on what the so-called "real" or "fake" bitcoin fork is - because PoW does nothing to prevent rough consensus attacks as I said before - there is also no Schelling point for bitcoin unlike gold and silver.  You can't "fork" gold and silver.  Also, since bitcoin requires central bankers and an artificially capped block size, it means an environment of usury fees that will just drive people to other coins, doubling down on destroying any possible Schelling point further.  Instead of a Schelling point, bitcoin actually has an INVERSE Schelling point due to these two issues.

Everything about cryptocurrency is truely shit compared to real money like silver and gold.  So you ask, if bitcoin isn't even money, then what the fuck is it?  It's a Rube Goldberg machine you idiots.