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

[Toxic2040]

I mean... BTC is pretty much obligated to touch $12k now.

ikr...it was a nice weekend for me. Actually got out and finished some chores. Boat is almost ready to be splashed for spring.

Not sure where all this friction is coming from..but the market it straining at the leash to go up. Not sure if its residual down pressure from events last week(read NEM hack) or if we just got caught up in the typical weekend dump where the two forces basically cancelled each other out.

All in all looks like a bullish week is ahead.

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

Bitcoin cash is the original block chain?? I am fairly certain the information in that image is just wrong. Segwit activation did not cause a hardfork, it motivated it.

I don't think they are that incompetent at the NIST. The blunder may be intentional.

Technically..pro spin.

[keyboard warrior]

$12000 in 6 hours confirmed

There's less than an hour to go and it's still $11200 on bearstamp.

However it was $11968 on cex.io less than two hours ago. Did you mean $12000 only on cex.io?

[bitcoinPsycho]

$12000 in 6 hours confirmed

There's less than an hour to go and it's still $11200 on bearstamp.

However it was $11968 on cex.io less than two hours ago. Did you mean $12000 only on cex.io?

Yes lol

[d_eddie]

We are quickly approaching 1-2 sat/Byte BTC transaction fee area. Not there yet, still in 2-5 sat/B zone, but can easily happen tomorrow. This means that tomorrow some 0 fee transactions may be quickly accepted by miners. Insane when you remember where we where two weeks ago.

Unfortunately, most of the pools are set up to ignore 0 fee transactions and not include them in a block. Also, I suspect that Bitcoin.com, F2Pool and maybe Antpool have set things up to ignore transactions with slightly higher fees than that as well.  However, the situation is vastly improved. there are some transactions that have been stuck since November that are clearing. (Although I supect many of these are indeed spam.)

Getting low-fee or zero-fee transactions confirmed seems like an attainable goal. For example, by imposing a penalty on block reward for mining significantly underfilled blocks when the mempool has many transactions waiting. I understand there's an issue with timing. Maybe just "old" mempool transactions could count - say, only those that have been waiting more than 2-3 blocks. The penalty would be added as a bonus to the next full block, in order to preserve planned inflation. Several constants to tweak, but I think it could be done. This is a minor issue, however: no one is going to cry if If 0-fee txs get dropped.

My pet problem is more serious - getting rid of spam as much as possible. Avoiding tx censorship and fighting spam are fundamentally opposite goals, unfortunately. Core defined a threshold for dust transactions exactly in order to fight spam.

[Syke]

Nobody forwards 0-fee txes. The effective minimum fee is 1-2 sats/byte, which is so cheap it might as well be 0.

[El duderino_]

The time When everybody was bored by only ATH’s seems far away  

[pera]

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

Bitcoin cash is the original block chain?? I am fairly certain the information in that image is just wrong. Segwit activation did not cause a hardfork, it motivated it.

This is just a draft of an internal report, which open for comments, and it seems they already fixed the obvious error:
https://twitter.com/nerdgirlnv/status/957982195787771910

[El duderino_]

  Whats merit standing for ?

[d_eddie]

Whats merit standing for ?

Forum rank doesn't depend on activity alone anymore.
https://bitcointalk.org/index.php?topic=2818350.0

[nanobtc]

Whats merit standing for ?

Some measure of 'quality of posts', and/or longevity of the user. More details are here.https://bitcointalk.org/index.php?topic=2818350.0

[True Myth]

Going back to the network spam clearing up.

So… going theoretical here…  Many believe that the spam the bitcoin network was experiencing was orchestrated by people with ties to Bitcoin Cash.  The idea held by many was that these people were spamming Bitcoin network to drive fees up while offering a cheaper faster alternative.  At the same time it appeared as if someone was pumping Bcash on occasion to create hype behind it and grab more attention.  This seemed pretty effective at the time.  Keep in mind this all occurred during arguably record high entrance to the market by newcomers.

After a few months of this going on, the people chasing the alt coin market began placing heavy value on cheap, fast transactions.  This drove people to pumping coins that had little backing or history but, had cheap and fast transaction times.  I think the sheeple have moved past Bcash and now see a larger range of coins that are available that offer their cheap fast transactions.  The people who chased Bcash for the cheap and fast transactions have moved on (hence the Ripple boom).

There is little benefit to spamming the network now as many others on here have theorized.  Not to mention how costly it must have been to spam the network…  That money would be better spent say… pumping bcash again to gain interest in a market where Bitcoin is moving sideways and “becoming boring”.  You heard it here first… bcash pump inbound.

[JayJuanGee]

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

technically, of course

just like ETC is the original Etherium


edit/ rethinking this...what about the emergency difficulty adjustment code?

hmmmmm

This claim of BCash being the original bitcoin is not correct in any way, technically or otherwise, except perhaps to retroactively spin historical facts to suit the bcash self promoting false narrative.

The more accurate historical rendition remains that bcash is and has been a minority attack on our lovey dovey  existing bitcoin; however, we could likely concede that if bcash were to gain network backing in various ways then at that time they could proclaim to be the real bitcoin, but to be honest they have to admit that they started out as a renegade and minority attack on the real bitcoin

[Ludwig Von]

Whats merit standing for ?

Something you can give to someone for a good post as a reward... . If you give one, you cannot undo it if the promise is not held... 

[mymenace]

Blockstream and segwit owned by bilderberg group


Bitcoin cash helping


Central Bank - SDR coin
https://www.acchain.org/en/

All assets on blockchain




Bank fees
https://rba.gov.au/publications/bulletin/2017/jun/pdf/bu-0617-4-banking-fees-in-australia.pdf

Bank changes
http://www.news.com.au/finance/money/its-banking-but-not-as-we-know-it-the-big-changes-coming-in-2018/news-story/190cb8f36243fd17b015749f40e75d10

New Payments Platform - built by swift (All 50 banks in australia signed up - amazing) centralized by the Central Bank with FSS
http://www.nppa.com.au/wp-content/uploads/2018/01/NPP_Technical-Introduction_January2018.pdf

FSS Fast Settlement Service
http://www.rba.gov.au/rits/info/pdf/Overview_of_Functionality.pdf
15. FAST SETTLEMENT SERVICE (FSS)
Page 97

Centralized blockchain on steroids


Now apply the fees above to what they will save on transactions with the FSS

You lose again

https://www.zerohedge.com/news/2018-01-29/these-are-6-traders-who-were-just-arrested-manipulating-gold-market

and the fake gold and silver market gets proven again


which do i choose

 internet airy fairy magic money

or

 central bank airy fairy magic metal

[keyboard warrior]

Whats merit standing for ?

This page shows all the merit points people have sent you for posts they liked.

https://bitcointalk.org/index.php?action=merit;u=1067333

You need a lot more merit points before you can move up to the next bitcointalk rank of senior member.

[Torque]

Going back to the network spam clearing up.

So… going theoretical here…  Many believe that the spam the bitcoin network was experiencing was orchestrated by people with ties to Bitcoin Cash.  The idea held by many was that these people were spamming Bitcoin network to drive fees up while offering a cheaper faster alternative.  At the same time it appeared as if someone was pumping Bcash on occasion to create hype behind it and grab more attention.  This seemed pretty effective at the time.  Keep in mind this all occurred during arguably record high entrance to the market by newcomers.

After a few months of this going on, the people chasing the alt coin market began placing heavy value on cheap, fast transactions.  This drove people to pumping coins that had little backing or history but, had cheap and fast transaction times.  I think the sheeple have moved past Bcash and now see a larger range of coins that are available that offer their cheap fast transactions.  The people who chased Bcash for the cheap and fast transactions have moved on (hence the Ripple boom).

There is little benefit to spamming the network now as many others on here have theorized.  Not to mention how costly it must have been to spam the network…  That money would be better spent say… pumping bcash again to gain interest in a market where Bitcoin is moving sideways and “becoming boring”.  You heard it here first… bcash pump inbound.

Wanna hear my theory? That in 2017 the flippening into alts, constant bitcoin spamming, FUD, and eventual creation of BCash were all related... a deliberate, multi-faceted, year long campaign that was well planned in advance. Whales and hedge funds started the crazy Bitcoin volatility and FUD all the way back in Jan 2017, and did it for one purpose: for all of the year, to shake as many people out and away from Bitcoin because they already knew that Bitcoin Futures were coming online in December (they are insiders after all -- and insiders know things well in advance of the public). And they couldn't just run the market straight up, that's not how big players take long positions. They were constantly pumping and shorting the whole time, all the while slowly ramping it up and building their long position over an entire year.

It's pretty obvious in hindsight. And if I'm right about this, then we should start to see alts slowly and almost imperceptibly bleed back into the Bitcoin market over time. We may even see a few "controlled demolitions" of some alts here and there, and their markets likely won't recover to previous ATHs after that.

[d_eddie]

Going back to the network spam clearing up.

So… going theoretical here…  Many believe that the spam the bitcoin network was experiencing was orchestrated by people with ties to Bitcoin Cash.  The idea held by many was that these people were spamming Bitcoin network to drive fees up while offering a cheaper faster alternative.  At the same time it appeared as if someone was pumping Bcash on occasion to create hype behind it and grab more attention.  This seemed pretty effective at the time.  Keep in mind this all occurred during arguably record high entrance to the market by newcomers.

After a few months of this going on, the people chasing the alt coin market began placing heavy value on cheap, fast transactions.  This drove people to pumping coins that had little backing or history but, had cheap and fast transaction times.  I think the sheeple have moved past Bcash and now see a larger range of coins that are available that offer their cheap fast transactions.  The people who chased Bcash for the cheap and fast transactions have moved on (hence the Ripple boom).

I attributed the Ripple boom to the Western Union/Ripple rumours.

There is little benefit to spamming the network now as many others on here have theorized.  Not to mention how costly it must have been to spam the network…  That money would be better spent say… pumping bcash again to gain interest in a market where Bitcoin is moving sideways and “becoming boring”.  You heard it here first… bcash pump inbound.

Spam or not, they did spend quite some cash pumping bcash anyway. The number of emply or nearly-empty blocks mined by Bitmain and related pools is strong circumstantial evidence. Your thesis (as to the innocence of the Bcash  Gang) remains far from compelling.

A Ripple pump may happen of course - it's all cyclical. But that wouldn't support the Bcash innocence hypothesis, would it?

EDIT: I see Torque beat me to it. I think his reply is worthy of consideration. But don't listen to me too much - I'm afraid he's winning me to the tinfoil club, one roll at a time. 

[Samarkand]

...

This claim of BCash being the original bitcoin is not correct in any way, technically or otherwise, except perhaps to retroactively spin historical facts to suit the bcash self promoting false narrative.

The more accurate historical rendition remains that bcash is and has been a minority attack on our lovey dovey  existing bitcoin; however, we could likely concede that if bcash were to gain network backing in various ways then at that time they could proclaim to be the real bitcoin, but to be honest they have to admit that they started out as a renegade and minority attack on the real bitcoin

Correct.

However, I think that it is highly improbable that Bitcoin Cash will gain any network backing whatsoever.

Just take a look at the development of active BCH addresses:


Since the start of January the number of active BCH addresses has dropped from ~295000 to ~51000.
This looks like a dying coin to me. This is probably also the reason why the spam attacks on the real
BTC blockchain have stopped or at least decreased in intensity. With every day that passes it makes
less sense to prop up BCH and therefore attacks on BTC become also less interesting.

In order to be fully transparent I admit that the active Bitcoin (BTC) addresses have also dropped in this time
frame, but not by such a big percentage.

[d_eddie]

In order to be fully transparent I admit that the active Bitcoin (BTC) addresses have also dropped in this time
frame, but not by such a big percentage.

Old bitcoiners consolidating small amounts into segwit addresses?

[True Myth]

Going back to the network spam clearing up.

So… going theoretical here…  Many believe that the spam the bitcoin network was experiencing was orchestrated by people with ties to Bitcoin Cash.  The idea held by many was that these people were spamming Bitcoin network to drive fees up while offering a cheaper faster alternative.  At the same time it appeared as if someone was pumping Bcash on occasion to create hype behind it and grab more attention.  This seemed pretty effective at the time.  Keep in mind this all occurred during arguably record high entrance to the market by newcomers.

After a few months of this going on, the people chasing the alt coin market began placing heavy value on cheap, fast transactions.  This drove people to pumping coins that had little backing or history but, had cheap and fast transaction times.  I think the sheeple have moved past Bcash and now see a larger range of coins that are available that offer their cheap fast transactions.  The people who chased Bcash for the cheap and fast transactions have moved on (hence the Ripple boom).

I attributed the Ripple boom to the Western Union/Ripple rumours.

There is little benefit to spamming the network now as many others on here have theorized.  Not to mention how costly it must have been to spam the network…  That money would be better spent say… pumping bcash again to gain interest in a market where Bitcoin is moving sideways and “becoming boring”.  You heard it here first… bcash pump inbound.

Spam or not, they did spend quite some cash pumping bcash anyway. The number of emply or nearly-empty blocks mined by Bitmain and related pools is strong circumstantial evidence. Your thesis (as to the innocence of the Bcash  Gang) remains far from compelling.

A Ripple pump may happen of course - it's all cyclical. But that wouldn't support the Bcash innocence hypothesis, would it?

Let me clarify my position.  I'm not saying the bcash gang is innocent.  I tried to state my point while being vague and without being direct which is a communication error on my side.  I believe the bcash gang AT LEAST shares the responsibility for the spam on Bitcoin and the pumps on BCASH.

EDIT: I see Torque beat me to it. I think his reply is worthy of consideration. But don't listen to me too much - I'm afraid he's winning me to the tinfoil club, one roll at a time. 

I can buy into this.  This theory would remove some of the responsibility from the bcash gang and place it on heavier hands.  I mean... if we are going "tin foil hat" we might as well go full tin foil hat.