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Question: Is this the last time Bitcoin will be below $9,000?
Yes - 57 (41%)
No - 54 (38.8%)
I Don't Know - 28 (20.1%)
Total Voters: 139

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21732484 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. (147 posts by 36 users deleted.)
becoin
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September 23, 2018, 06:14:07 PM

Bitmain and Bitfury are most likely to deploy many of their new ASICs on their own farms, and I believe their cost to produce is way less than the price they give to the public. I suspect that most large mining farms in China will be able to recoup their equipment cost in a few months, if that long.

Hmmm. And here I thought that the WO consensus was that Bitmain was circling the drain, and were destined to kill BCH in the process. Guess that must have been a premature call.

Bitmain won't kill BCH. BCH will kill Bitmain.
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vroom
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September 23, 2018, 06:21:14 PM

6920 then 5200 then 6500 then capitulation around 3K in january 2019

With this difficulty there's close to 0% chance for ever getting back to $3000. Yes, electricity prices * difficulty are not directly correlated to BTC price, obviously, but no miner can afford to subsidize electricity costs to BTC network. You can not operate with a long terms loss, they will simply:
a) turn off the machines, or
b) stop dumping immediately what has being mined, making permanent bottom on break-even price level.

Guess which one is more likely to happen.

Bitmain just announced that it has finally developed a better ASIC chip. It will be 42J/TH. Bitfury also announce that they have a new ASIC chip which gets 55mW/GH. https://www.coindesk.com/bitmain-ceo-announces-new-7nm-bitcoin-mining-chip. I put in some figures, and it appears at the current difficulty and 5 cents/kwH price in China, that brings the electricity cost down to less than $1,500 USD to produce 1 BTC. If the difficulty doubles, it will still be less then $3000 USD to produce a BTC. And I suspect some of the larger mining farms in China are getting a better deal than 5 cents/kwH. Therefore, the break-even floor is going to be lowered.
However, I really don't think BTC is going to go much below 5000 USD. After all, Bitcoin core just patched up a major bug that was present for almost 2 years, and the market responded like it was just noise.  Cheesy

Kinda concerning really.  Is that last bug and we're all fixed now? Whew!  Roll Eyes  Inflationary bug? First I've heard inflation was actually possible for btc.
What is the likelihood it was planted there intentionally?   Maybe someone just discovered a hidden pot of bear juice.  Sorry, gotta ask cause that's a pretty big banana.

This is really concerning and I'm pretty sure that this was not the last bug to be found. Bitcoin is still under heavy development and some bugs are very hard to discover. New code can introduce new bugs.

Banks, media, governments, whales, ..., nobody can kill bitcoin. Only a critical bug can stop this project immediately.

But

Every day bitcoin survives without an exploited bug proofs the stability and secureness of this technology.
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September 23, 2018, 06:38:44 PM

Bitmain and Bitfury are most likely to deploy many of their new ASICs on their own farms, and I believe their cost to produce is way less than the price they give to the public. I suspect that most large mining farms in China will be able to recoup their equipment cost in a few months, if that long.

Hmmm. And here I thought that the WO consensus was that Bitmain was circling the drain, and were destined to kill BCH in the process. Guess that must have been a premature call.

Yes, it was looking rather bleak for Bitmain. However, it appears Bitmain has pulled through once again. Also, it appears that with this new development, they will be able to ensure they will have the hashrate to make sure the Bitcoin ABC hardfork goes through. Poor Craig Wright will probably be rebuffed again.  Cry
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September 23, 2018, 06:41:45 PM

Bitmain and Bitfury are most likely to deploy many of their new ASICs on their own farms, and I believe their cost to produce is way less than the price they give to the public. I suspect that most large mining farms in China will be able to recoup their equipment cost in a few months, if that long.

Hmmm. And here I thought that the WO consensus was that Bitmain was circling the drain, and were destined to kill BCH in the process. Guess that must have been a premature call.

This is their last chance to stay afloat. And I guess the miner is far from production there's a lab sample at best. It's just a show off for investors and public...
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September 23, 2018, 06:54:03 PM


This is really concerning and I'm pretty sure that this was not the last bug to be found. Bitcoin is still under heavy development and some bugs are very hard to discover. New code can introduce new bugs.

Banks, media, governments, whales, ..., nobody can kill bitcoin. Only a critical bug can stop this project immediately.

But

Every day bitcoin survives without an exploited bug proofs the stability and secureness of this technology.

I am confident that even if a critical bug is discovered only by it actually being triggered on the mainnet,  the problem will be mitigated quickly. Honey badger will continue to survive. There are already quite a few instances of this happening in Bitcoin's history, and each time the development team pulled through.

https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures
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September 23, 2018, 07:59:46 PM

While I'm pouring all my savings into BTC, all my friends have been going on and on about weed stocks: Tilray

It's a classic, textbook pump and dump...kind of like bitcoin.  You guys are never going to grow up to be Nazi supersoldiers if I have to keep explaining things like this to you.  
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yes


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September 23, 2018, 08:29:38 PM

10,000 LTC buy in Binance.  .


Just looked up some - as they would call it here - shitcoins and, remarkably, volume on quite a few of them is significantly increasing since mid August. Smart players loading up?
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September 23, 2018, 08:46:58 PM

10,000 LTC buy in Binance.  .


Just looked up some - as they would call it here - shitcoins and, remarkably, volume on quite a few of them is significantly increasing since mid August. Smart players loading up?

Thought it would get pulled but someone sold 2500 into it and it didn't budge.  Ok, real wall and someone wants 1/2 million dollars of LTC. Doh
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September 23, 2018, 09:14:43 PM

Quote
I just meant capitulate on the poll. Or are you saying that hodlers don't even do that? If so than I guess I'm not part of the hodlgang any more Cry

Oh, sorry. I think it's acceptable for hodlers to capitulate on the poll.

I think he's referring to the inevitability of the price going up when I sell and crashing right after I buy. Cheesy

@Anon136, I don't think that works with the poll, I have to actually put my money on the line for that triggered event. Tongue

Here is an excerpt from a recent post by Greg Maxwell. It appears that this is indeed true.

..snip
Through all the history of Bitcoin, altcoin forks copying the code, other reimplementations and many other consensus bugs, some serious and some largely benign,  this is the first time someone working on another serious implementation that someone actually uses has actually found one.  I might be forgetting something, but I'm certainly not forgetting many. Kudos to awemany. In all other cases they either had the same bugs without knowing it, or accidentally fixed it creating fork risk creating vulnerability without knowing it. It also isn't like there being multiple implementations is new-- for the purpose of this point every one of the 1001 altcoins created by copying the Bitcoin code count as a separate implementation too, or at least the ones which are actively maintained do.
..snip

Thats kinda cool to see actually. how much is a bug bounty worth these days?





Beauty!

10,000 LTC buy in Binance.  .


Just looked up some - as they would call it here - shitcoins and, remarkably, volume on quite a few of them is significantly increasing since mid August. Smart players loading up?

Thought it would get pulled but someone sold 2500 into it and it didn't budge.  Ok, real wall and someone wants 1/2 million dollars of LTC. Doh

Unless they sold to themselves and want you to think that before their P&D. Wink
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September 23, 2018, 09:36:25 PM
Merited by LFC_Bitcoin (1)

bones261
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September 23, 2018, 09:41:13 PM

Here is an excerpt from a recent post by Greg Maxwell. It appears that this is indeed true.

..snip
Through all the history of Bitcoin, altcoin forks copying the code, other reimplementations and many other consensus bugs, some serious and some largely benign,  this is the first time someone working on another serious implementation that someone actually uses has actually found one.  I might be forgetting something, but I'm certainly not forgetting many. Kudos to awemany. In all other cases they either had the same bugs without knowing it, or accidentally fixed it creating fork risk creating vulnerability without knowing it. It also isn't like there being multiple implementations is new-- for the purpose of this point every one of the 1001 altcoins created by copying the Bitcoin code count as a separate implementation too, or at least the ones which are actively maintained do.
..snip

Thats kinda cool to see actually. how much is a bug bounty worth these days?



In his Medium post, he states that he requested a bounty be paid in BCH to this address: bitcoincash:qr5yuq3q40u7mxwqz6xvamkfj8tg45wyus7fhqzug5. So far he has been given a little over 38 BCH, which is currently worth a little less than $18,500. Not sure if any of the tips sent to this address is a bug bounty from Blockstream, the Bitcoin Foundation, or Bitcoin Core team.



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September 23, 2018, 09:45:21 PM

Just saw deadpool 2 ..... when there are mutant and normal people ,its a little bit the same as coiners and nocoiners
There are always Those That are jealous to the superior beeing
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September 23, 2018, 10:00:27 PM



I don't fit the target demographic
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September 23, 2018, 10:02:03 PM

Here is an excerpt from a recent post by Greg Maxwell. It appears that this is indeed true.

..snip
Through all the history of Bitcoin, altcoin forks copying the code, other reimplementations and many other consensus bugs, some serious and some largely benign,  this is the first time someone working on another serious implementation that someone actually uses has actually found one.  I might be forgetting something, but I'm certainly not forgetting many. Kudos to awemany. In all other cases they either had the same bugs without knowing it, or accidentally fixed it creating fork risk creating vulnerability without knowing it. It also isn't like there being multiple implementations is new-- for the purpose of this point every one of the 1001 altcoins created by copying the Bitcoin code count as a separate implementation too, or at least the ones which are actively maintained do.
..snip

Thats kinda cool to see actually. how much is a bug bounty worth these days?



In his Medium post, he states that he requested a bounty be paid in BCH to this address: bitcoincash:qr5yuq3q40u7mxwqz6xvamkfj8tg45wyus7fhqzug5. So far he has been given a little over 38 BCH, which is currently worth a little less than $18,500. Not sure if any of the tips sent to this address is a bug bounty from Blockstream, the Bitcoin Foundation, or Bitcoin Core team.






I hope he gets more than that. And so do other researchers that follow responsible disclosure in the future. Decentralisation in this case makes it very hard to have a proper bug bounty rewards program but maybe donations can properly make for it.
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September 23, 2018, 10:15:03 PM
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Full credit to Awemany.  Just goes to show that not everyone involved in BCH is a criminal and fraudster. 
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September 23, 2018, 10:38:11 PM

Full credit to Awemany.  Just goes to show that not everyone involved in BCH is a criminal and fraudster. 

Actually everyone involved in BCH is a criminal and fraudster. The bug was introduced in the code before Bitmain Cash fork took place. They revealed the bug because they couldn't exploit it in any other way.
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September 23, 2018, 11:11:00 PM
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Just saw deadpool 2 ..... when there are mutant and normal people ,its a little bit the same as coiners and nocoiners
There are always Those That are jealous to the superior beeing

Yah know Deadpool II could be a good meme with a shot of DP as BTC and a shot of him with baby legs as BCH. Cheesy


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September 23, 2018, 11:14:06 PM

Just saw deadpool 2 ..... when there are mutant and normal people ,its a little bit the same as coiners and nocoiners
There are always Those That are jealous to the superior beeing

Yah know Deadpool II could be a good meme with a shot of DP as BTC and a shot of him with baby legs as BCH. Cheesy




yeah would be funny , if i wasn't deadtired i probably made one  Roll Eyes
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September 23, 2018, 11:19:44 PM

Found this on Twitter
Not as simple as it looks alike
Your bets



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September 23, 2018, 11:38:24 PM

$2K

How is it not simple?
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