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

[d_eddie]

A major thing people forget when simply saying we need a small block size increase, is that it requires a HARD FORK.
This means that a whole bunch of people with 100,000's of Bitcoins are going to be pissed. MP & his group for one. Probably a number of others.

These people, along with many others will probably continue the existing chain, claiming it is the real Bitcoin. (Just like BClashic but much worse).
Imagine the damage that is going to do to Bitcoin, we must have  an overwhelming consensus otherwise it's going to be a clusterfuck!

Clap, clap. The blocks will get bigger when they will. Let's turn our heads to the real alternative solutions. The pot is on the fire, soon dinner's gonna be served. Let's just get the big actors to come along ASAP.

Hello, Coinbase? Hello? Anybody in there?

[d_eddie]

Another yummy snippet from fluidjax.

Total ban on mining in China..
A slow orderly exit is planned - apparently confirmed by Jihan (by Cryptovenus)

https://twitter.com/cryptovenus/status/949405526315716608

The BTC market should see this in a positive way, but there is no accounting for stupidity.
The will force chinese miners to relocate and spread out geographically, and also cause them higher electricity costs, which will allow more competition.

If this is confirmed, it's quite an important piece of news.
I also see this as quite bullish. Never forget: the freedom that comes with decentralization is Bitcoin's main asset.

By the way, this appears more plausible than the customary quarterly "China bans bitcoin" FUD items. There's no FUD context (or necessity) this time, so it does look different.

[cAPSLOCK]

I can admit that, if this was an enterprise, the blocksize increase would have come first as a temporary fix whilst the real scaling solution (LN) was being finishing development/tests/deployment/adoption etc... But it is not... decentralization has its pros and cons.

This is a key thought.  We have not really had the crypto go-live yet.  We are still in the testing phase.  Those of us in this community buying Christmas gifts with purse.io and planning our yacht purchases do not live in the real world where crypto is still only magic internet money.

Thing is... there can never be a hard go-live date.  It is happening little by little over time.  This *is* going to make most "enterprise" production systems look like tiddly-winks.

We will NEVER have a better time than now to implement the needed scaling solutions to serve 7 (8, 9 10) billion people.

The current transaction fees are growth pains on the way to a new world.  

No one said it would be easy.

[Torque]

"TL;DR, for our dear readers who can't make heads or tails of this novelty: Bitcoin is as good as gold, shinier than lead, bubblier than tulips, held deep in the mines, and driving people nuts. Gold has enriched adventurers and bitcoin has held fools to ransom. You may dive in a pool of gold, but lose it all at war. Strangely, while you can still buy gold today and forget about it until your great-grandchildren cash it out, the much-hyped "future of money" has turned into the most speculative intangible asset of all time, while proving totally unsuitable as a means of payment. Still, over 2017 at least, bitcoin would have been a better investment than Tesla stock."
says site owned by pedophile Jimmy Wales
https://en.wikipedia.org/wiki/Wikipedia:Annual_Top_50_Report

His list lost me @ The Last Jedi comment:
"It wasn't terrific, but it wasn't terrible..."

No it wasn't terrific. As a stand alone movie alone it WAS terrible, a complete mess. As a Star Wars movie though, it was a fkn abomination and complete disgrace to the franchise. It jumped the shark in every way imaginable.

[Last of the V8s]

disgrace upon disgrace^

meanwhile: http://moonmath.win/

[tronic1704]

New Sell-Attack?

[vapourminer]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

[d_eddie]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

Unsplit BTC still with a BCH, and possibly other forkcoins, inside.

[jojo69]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

untouched old wallet addresses with all the forks still intact

ie. BTC+BCH+BTG+etc etc

[Torque]

This is a key thought.  We have not really had the crypto go-live yet.  We are still in the testing phase.  Those of us in this community buying Christmas gifts with purse.io and planning our yacht purchases do not live in the real world where crypto is still only magic internet money.

And yet there's this little bit of rational honesty, that we should all recognize and discard the fairy-tale fallacies.
https://twitter.com/danheld/status/949423269886664704

Which is why Bitcoin should be considered a decentralized, deflationary crypto asset like digital gold, that also happens to be exchangeable for goods and services like a currency. Notice I said "like a currency" because it is clear that that attribute is not its primary function nor its strength.

The word "crytocurrency" is a complete misnomer. It should have been called a "cryptoasset" from the beginning.

[vapourminer]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

untouched old wallet addresses with all the forks still intact

ie. BTC+BCH+BTG+etc etc

thanks. i still have a few from 2012 or so on paper wallets that still have the extra goodies in them then.

[sirazimuth]

Which is why Bitcoin should be considered a decentralized, deflationary crypto asset like digital gold, that also happens to be exchangeable for goods and services like a currency. Notice I said "like a currency" because it is clear that that attribute is not its primary function nor its strength.

 uh-oh...
you mentioned bitcoin and currency in the same post...
cue you-know-who with with those you-know-what type comments in 3...2...

[keyboard warrior]

New Sell-Attack?

It's only gone down a tiny bit. Unless it's at least a thousand dollar movement I barely notice it.

[RoomBot]

dump cripplecorebitshitcoin for the real bitcoin (BCH)

[jojo69]

bidding for "cripplecorebitshitcoin.com" now

[RoomBot]

Segwit is not being adopted. And LN will be largely a niche gimmick. We need something that works across the board, something that, unlike segwit, is NOT OPTIONAL.

Make non Segwit opt out and there's most of it cleared up. Same as organ donation. They flipped that from opt in to opt out recently in the UK. I expect many more people will be sliced up and glued into other people in future and rightfully so.

people getting forked?

[Gab0]

Which is why Bitcoin should be considered a decentralized, deflationary crypto asset like digital gold, that also happens to be exchangeable for goods and services like a currency. Notice I said "like a currency" because it is clear that that attribute is not its primary function nor its strength.

The word "crytocurrency" is a complete misnomer. It should have been called a "cryptoasset" from the beginning.

And once again ... Satoshi was wrong.
Good to have geniuses like your Torque. Thank you for enlightening us with your wisdom.
Now ... if Satoshi was so wrong, why do not we just rewrite the white paper?

Announcing version 0.3 of Bitcoin, the P2P cryptocurrency!  Bitcoin is a digital currency using cryptography and a distributed network to replace the need for a trusted central server.  Escape the arbitrary inflation risk of centrally managed currencies!  Bitcoin's total circulation is limited to 21 million coins.  The coins are gradually released to the network's nodes based on the CPU power they contribute, so you can get a share of them by contributing your idle CPU time.

[...]

Oh! Stupid Satoshi, you were so wrong.

[JimboToronto]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

Unsplit BTC still with a BCH, and possibly other forkcoins, inside.

For the sake of simplicity, I only include the 3 most valuable... real Bitcoin, AltcoinCash and AltcoinGold.

If any other forkcoin achieves a significant value, I'll include it too.

I include this in my daily greeting/recap primarily for investors (long-term holders) rather than traders. Many of us keep the majority of our coins in cold storage, untouched for years. Having a single figure to represent the total worth of each coin makes it easier to quickly assess the total value of our holdings.

[fluidjax]

Which is why Bitcoin should be considered a decentralized, deflationary crypto asset like digital gold, that also happens to be exchangeable for goods and services like a currency. Notice I said "like a currency" because it is clear that that attribute is not its primary function nor its strength.

The word "crytocurrency" is a complete misnomer. It should have been called a "cryptoasset" from the beginning.

And once again ... Satoshi was wrong.
Good to have geniuses like your Torque. Thank you for enlightening us with your wisdom.
Now ... if Satoshi was so wrong, why do not we just rewrite the white paper?

Announcing version 0.3 of Bitcoin, the P2P cryptocurrency!  Bitcoin is a digital currency using cryptography and a distributed network to replace the need for a trusted central server.  Escape the arbitrary inflation risk of centrally managed currencies!  Bitcoin's total circulation is limited to 21 million coins.  The coins are gradually released to the network's nodes based on the CPU power they contribute, so you can get a share of them by contributing your idle CPU time.

[...]

Oh! Stupid Satoshi, you were so wrong.

If you want dogma, go worship at Ver's church, if you want to be part of a journey to find the solution stay with Bitcoin.

[gentlemand]

For the sake of simplicity, I only include the 3 most valuable... real Bitcoin, AltcoinCash and AltcoinGold.

If any other forkcoin achieves a significant value, I'll include it too.

One interesting thing about the forks is that you'd need to be bleedin' loaded to get a significant amount of them for free now.

I'm not sure whether that helps or hinders them.