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Question: Oct. 23 Closing Price:
<$8,000 - 2 (3%)
$8,000-$8,500 - 0 (0%)
$8,500-$9,000 - 0 (0%)
$9,000-$9,500 - 0 (0%)
$9,500-$10,000 - 0 (0%)
$10,000-$10,500 - 1 (1.5%)
$10,500-$11,000 - 0 (0%)
$11,000-$11,500 - 3 (4.5%)
$11,500-$12,000 - 5 (7.6%)
$12,000-$12,500 - 16 (24.2%)
$12,500-$13,000 - 12 (18.2%)
$13,000-$13,500 - 8 (12.1%)
$13,500-$14,000 - 5 (7.6%)
>$14,000 - 14 (21.2%)
Total Voters: 66

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 23430418 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. (148 posts by 37 users deleted.)
smartcomet
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August 12, 2018, 01:10:04 AM

Vitalik Buterin Proposes a Consensus Algorithm That Requires Only 1% to Be Honest

https://twitter.com/VitalikButerin/status/1027972126593015809?s=20
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I did NOT invent 99% fault tolerant consensus; Leslie Lamport did. I just wrote an explainer and adapted it to a blockchain context. Please fix, Trustnodes.

This has been known a long time; Leslie Lamport’s famous 1982 paper “The Byzantine Generals Problem” (link here) contains a description of the algorithm. The following will be my attempt to describe and reformulate the algorithm in a simplified form.

Does this mean 99% POW is useless?
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August 12, 2018, 01:23:45 AM



Don't let this distract you from the the fact that in 1966, Al Bundy scored four touchdowns in a single game while playing for the Polk High School Panthers in the 1966 city championship game versus Andrew Johnson High School, including the game-winning touchdown in the final seconds against his old nemesis, Bubba "Spare Tire" Dixon.

I was at that game... I shit you not!

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August 12, 2018, 01:33:35 AM

https://twitter.com/Excellion/status/1028426579158884352
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According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets.

As suspected, Bcash was being pumped.

I don't think the rest of their btc will be able to get bcash to a sellable value. Time to start pulling out the old wallets and get what I can.
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August 12, 2018, 01:53:25 AM

If anyone has some spare time I would love to see the trend of the price excluding these huge jumps and falls within minutes.

I think that would show the true sentiment of the market.
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August 12, 2018, 02:06:07 AM

I don't think that any of us can deny that it is mainly whales pushing the price up and pushing it down.
This really has nothing to do with typical sentiment of the average user or some sort of good or bad news. Other than the fact that the whales may believe that the market will not fight them in one move or another as they swing things back and forth.
The key being, which way do these whales want the price to go? Well they are certainly not in bitcoin because they read the white paper and were inspired. They have balance sheets that need big profits.
We will see. I really do wish Wall Street would stay out of bitcoin. Bitcoin can grow without it, and will likely be around long after it.
Isn't a rule of BTC price movement (or any market in that regard) that the whales will attempt to push the price in the direction of least resistance?  As lay persons, it is not always easy for us to assess, and probably even for whales they might perform a test pump or dump, and hope that others will follow that particular direction.
Isn't that what is called stop hunting?

Soon it will be called whale hunting -- decentralization

too many rich  Wink
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August 12, 2018, 02:15:34 AM

Do you guys still consider ethereum an altcoin?

Very serious I imagine
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August 12, 2018, 02:43:38 AM

https://twitter.com/Excellion/status/1028426579158884352
Quote
According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets.

As suspected, Bcash was being pumped.

I don't think the rest of their btc will be able to get bcash to a sellable value. Time to start pulling out the old wallets and get what I can.



 Cool

look at me  >.> i'm the BTCBTCBTCBTCBTCBTCBTCBTC hodler now
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August 12, 2018, 03:01:23 AM
Last edit: August 12, 2018, 03:21:40 AM by yefi

https://twitter.com/Excellion/status/1028426579158884352
Quote
According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets.

Nearly two million BCH? Are they trying to emulate the Hunt brothers?
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August 12, 2018, 03:34:29 AM

If anyone has some spare time I would love to see the trend of the price excluding these huge jumps and falls within minutes.

I think that would show the true sentiment of the market.

Not sure this is quite what you had in mind

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August 12, 2018, 03:35:20 AM

https://twitter.com/Excellion/status/1028426579158884352
Quote
According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets.

Nearly two million BCH? Are they trying to emulate the Hunt brothers?

The question becomes...is Bitmain 'bleeding' BCH to cash or (gasp btc) at this time? How if anything are they managing this, or are the locked in BCH for the long haul ride, at this point?

or are they SO locked into BCH as a founder/miner/etc that to do so would gut the price, even if they hedged a little bit?

probably no way to tell, but figured I'd ask

they also have the misfortune to be 'committed' to a 1/2 billion dollar data hall arrangement in Texas. Likely, this was in the works months ago and they are just plain stuck.

my point on this thread is ....does dumping bch hurt or help BTC or just don't plain make any difference if to cash say?





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August 12, 2018, 03:35:54 AM
Merited by Torque (1), mindrust (1), Last of the V8s (1)


Ethereum came as a split from the colored coin approach. With colored coins people realized that they could create assets on the Bitcoin blockchain. Each satoshi could represent a single asset (1g of gold for instance). They even implemented OP_RETURN so you could add details about the underlying asset.

One big thing many people working on colored coins ran into was the limited amount of bytes that could be used for each transaction (a lack of creativity left them wanting to fix this limitation with more bytes instead of working with second layers). The possibilities of what could be added to to each transaction if there were more space was discussed. The golden idea was to have enough room for turing complete programs on the blockchain. Vitalik took on the task of enhancing the colored coin approach on the Bitcoin network to allow for turing complete code. The Bitcoin community became excited about this Ethereum colored coin approach and put a lot of support behind it.

Then Vitalik decided to shit all over Bitcoin and everyone who had supported him up until then and take the easy way out by creating a new coin called Ethereum with a whole new blockchain that had enough room for these turing programs.

There was a reason that Bitcoin limited the size of transactions.

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August 12, 2018, 03:48:55 AM
Merited by Searing (1)

https://twitter.com/Excellion/status/1028426579158884352
Quote
According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets.

Nearly two million BCH? Are they trying to emulate the Hunt brothers?

They were trying to make Bcash lol more valuable than Bitcoin by restricting supply (and touting it to increase demand). Bitmain holds all the Bcash lol it has ever mined in a huge wallet. They have been losing money since day 1 trying to flip Bitcoin. 

They used every tool at their disposal.  They might possibly have pulled it off but enough people have seen through them.
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August 12, 2018, 03:49:28 AM

https://twitter.com/Excellion/status/1028426579158884352
Quote
According to the Bitmain pre-IPO investor deck, they sold most of their #Bitcoin for #Bcash. At $900/BCH, they've bled half a billion in the last 3 months. If Bitcoin Core devs didn't disclose the Bcash vulnerability, it could've wiped a billion dollars off their balance sheets.

Nearly two million BCH? Are they trying to emulate the Hunt brothers?

At least they are putting their money where their mouth is. Roll Eyes
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August 12, 2018, 03:52:06 AM
Last edit: August 12, 2018, 04:12:26 AM by mymenace

~we could not centralize color coins enough so vitalik pissed of the scammers~

 Cool


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August 12, 2018, 04:14:04 AM
Last edit: August 12, 2018, 04:34:33 AM by Hueristic

Throughout the last year I was told how "lucky" I was to have so many bitcoins. They wished they got in so "early" like me, that they were not so "lucky".

Think of all of the people selling right now. Think of all of the people buying right now. The people selling are doing something easy. The people buying are doing something hard.

Holding BTC right now is hard, it's not easy. When you do something that is hard and are rewarded, that is not luck. That is a reward that is earned.

I have earned every bit of what I have, and then some, having been through these tough times several times and not buckled.

I am not lucky. I am strong.

Lucky SOb.


Vitalik Buterin Proposes a Consensus Algorithm That Requires Only 1% to Be Honest

https://twitter.com/VitalikButerin/status/1027972126593015809?s=20
Quote
I did NOT invent 99% fault tolerant consensus; Leslie Lamport did. I just wrote an explainer and adapted it to a blockchain context. Please fix, Trustnodes.

This has been known a long time; Leslie Lamport’s famous 1982 paper “The Byzantine Generals Problem” (link here) contains a description of the algorithm. The following will be my attempt to describe and reformulate the algorithm in a simplified form.

Does this mean 99% POW is useless?


Meh, they already proved their chain is mutable and centralized so it can't shit down a drain fast enough in my book.
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August 12, 2018, 04:35:28 AM
Merited by bitebits (5)

Apparently reddit does not like my humor (or lack thereof).

https://www.reddit.com/r/Bitcoin/comments/96mnhp/for_those_who_bought_bitcoin_to_get_rich_my/

downvotes galore
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August 12, 2018, 04:40:11 AM
Merited by Elwar (1)

Apparently reddit does not like my humor (or lack thereof).

https://www.reddit.com/r/Bitcoin/comments/96mnhp/for_those_who_bought_bitcoin_to_get_rich_my/

downvotes galore

They never get mine either. Smiley
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August 12, 2018, 05:02:56 AM

It's always good to keep a diversified portfolio, and thankfully I can afford to lose what I've put in if it dies completely (which is not likely to happen imo).




Safe but not protected, people in bubbles

I built an army
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August 12, 2018, 05:24:31 AM

Throughout the last year I was told how "lucky" I was to have so many bitcoins. They wished they got in so "early" like me, that they were not so "lucky".

Think of all of the people selling right now. Think of all of the people buying right now. The people selling are doing something easy. The people buying are doing something hard.

Holding BTC right now is hard, it's not easy. When you do something that is hard and are rewarded, that is not luck. That is a reward that is earned.

I have earned every bit of what I have, and then some, having been through these tough times several times and not buckled.

I am not lucky. I am strong.

yep...I'm in the same boat....it was what on Aug 7th, 2017 BTC was 63,383.38 I think (see previous postings) right now BTC is at 6,311.63 USD.

So fine, I watched it go from 19k to now 6,312.63....and same as you was in full HODL mode of my hoard since 2015. Living on Altcoins now (ouch! that may not last!)

The real question is....when it starts to PUMP (assuming) and gets to 12-14k...will I then snap and sell in the OTHER direction?

It was damn hard in HODL mode watching it go down..it MAY be just as damn hard not cracking if it goes back up

anyway, if no bubble occurred last year at these prices vs 2017 at this time..we'd be doing cartwheels now

so hell, if it is all a matter of perception and guess anyway, so far I've simply held (at least my BTC) same amount hoard since 2015.

I'm either a genius or an idiot

As they say, this price is 1) either the high or 2) or the low, as of right now..place your bets, folks...

flip a coin, I  guess Smiley

brad
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August 12, 2018, 05:30:02 AM

Apparently reddit does not like my humor (or lack thereof).

https://www.reddit.com/r/Bitcoin/comments/96mnhp/for_those_who_bought_bitcoin_to_get_rich_my/

downvotes galore
Had a good chuck. Would laugh even harder if it was indeed over or/AND if Bitcoin got hacked indeed. Wouldn't like it, but would be very entertained if it happened immediately after your post.



I'm either a genius or an idiot
Same difference. Roll Eyes
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