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

[vapourminer]

@xhomerx10
RE: hat

after much discussion with my cat, he has opined that his image cannot be smaller than any other image in the avatar. so having his image reduced to fit on a badge on a hat is out.

he will deign however to wear a genuine WO hat on his head though. will that be possible? a hat with the BTC logo for him to wear?

[AlcoHoDL]

It's the calm before the pump...

We'll soon be in 5 digits and rising...

Hell, I even think I'll win mic's game...

@xhomerx10: If it's not too much trouble, I'd really like a hat of this pic. You may cut and crop and do what you must to make it look awesome. Will be worn with pride once we hit 5 digits!

[Torque]

Lol, everyone has to walk on egg shells, they don't want to upset him, and have him storm out in a hissy fit.

Reviewing the real Satoshi's early emails and forum posts, it is so easy to see that he was ego-centric narcissist with an anger hair trigger, just about anything would set him off. Especially if you said something he didn't agree with...so CSW must definitely be him...

....not.

^{yes in case you were wondering this was sarcasm}

[xhomerx10]

Whats with the hats?

 There's only one way to find out...



Avatar-sized




N.B. There are of course more ways than one but that wouldn't be very dramatic

[DaRude]

If anything I see the BCH fork as bullish for bitcoin. People are presumably going to either cash out their shit fork coin to fiat or/and convert it to bitcoin.

I think we’ll see the bitcoin price go up on the day or a few days after their fork.

Well bcashABC and bcashSV is a closed system, so them exchanging their alts for each other, from the outside, is a zero sum game. Now the big question is inflow/outflow from the outside capital. Do you expect the loosing side just simply watch as they're loosing or do you think they'll try to put up defense and prop up their side? Both sides have their reserves in BTC, so i don't think it's unrealistic to expect them to burn through their BTC stashes to support their side. That's why after the fork the sum value of both chains is usually higher than the initial chain, as both sides brought in outside capital to prop up their visions. I think CSW already proved that he's willing to burn money on hash rate when mining his useless chain, and i don't believe he's a complete idiot, so he'd also need to prop up the value of his chain at some peg as well. But i believe that was already going on as both sides were planning for this and have been gradually cashing out their BTC in preparations for this event. Thats why BTC has been trading sideways for last few months.

But in any case this is good news for BTC, the more those geniuses reduce their BTC stashes fighting each other the more irrelevant they become to BTC.

tl;dr  maybe a bit more short term sell pressure on BTC while both sides deplete their BTC reserves in the last battles of the bcash war

[bitserve]

Oh well, Bitcoin is deader now.

Let's just hope those insane Bcashers deplete their Bitcoin reserves soon.

[realr0ach]

Whatever.  Lightning is a 100% completely permissioned ledger, which gives some merit to on-chain scaling and larger blocks, but transaction validators in standard bitcoin are designed to centralize too where there's always going to be only like 2-10 of them, so neither bitcoin, bcash, or lightning has any reason to exist compared to physical metals.  

Shitcoins = built-in middlemen and only morons and scammers claim there aren't.  If you want to move any coin at all, you're forced to pay a ransom fee to a centralized miner and also ask him permission if he's going to even allow you to do so at all with govt enacted blacklists regulating those centralized miners on top of that.

[bitserve]

Same old. Same old. FFS.

[Last of the V8s]

It's over.

[Spaceman_Spiff_Original]

We cap-pitulated

Nice one !

[jbreher]

We cap-pitulated

Nice one !

Oh stop it. We've hat enough.

[goldkingcoiner]

Altcoiners... You have to take your hat off to them.

[xhomerx10]

@xhomerx10
RE: hat

after much discussion with my cat, he has opined that his image cannot be smaller than any other image in the avatar. so having his image reduced to fit on a badge on a hat is out.

he will deign however to wear a genuine WO hat on his head though. will that be possible? a hat with the BTC logo for him to wear?

 In order to make the hat look its best inside the existing avatar, I had to use some techniques the make the original look... weird so I  will only post the finished avatar but this is created from an original WO hat.

[Last of the V8s]

...or...

CSW is about to employ mad ninja judo skillz, to redirect bitmain's hash power to stall the BTC chain. Perhaps. (?)

In terms of known hash power, Bitmain's dwarf's CSW's - at least when you include that currently devoted to BTC. However, CSW has always had enough hash power to achieve his objective.
At the 2017 Aug fork, he had enough to mine the first blocks ensuring the viability of the BCH chain.
In the last few days, his hash power has ballooned to large majority for SV on the BCH chain.
Does he hold more in reserve? How much?

We know Bitmain holds a lot of BCH. This would indicate a commitment to ensure the ongoing viability in BCH. They currently advocate ABC. If they retain that commitment, things could get interesting.

CSW has indicated his intent to bury the ABC fork under the SV fork. In the case that he controls previously-unimagined hash power, currently in stasis...

CSW could deploy just enough hash power to indeed 'bury' the ABC fork. If Bitmain stays committed to the ABC fork, they would need to redirect hash power from BTC to BCH/ABC. Assuming again that CSW has quasi-unlimited hash power in reserve, he can continue to deploy additional hash power to keep ABC buried. In order to ensure the continued viability of ABC, Bitmain would need to redirect yet additional hash power from BTC to BCH. Bitmain in this manner could possibly be drawn into redirecting most or all of its hash power from BTC to BCH.

If Bitmain's hash power is redirected from BTC to BCH, what happens to the BTC chain? Is this enough to stall the chain? When is the difficulty retargeting?

If enough hash power is pulled from the BTC chain, this will slow down tx processing appreciably. This could be accompanied by a large volume of small-value txs (sometimes referred to as 'spam txs'). The BCH community has already developed flooding tools used in the Gigablock Test Initiative. This combination could crowd other activity out of the chain, making it economically non-viable. The net result would be rendering the BTC chain useless for economic activity. If sustained, possibly followed by chain death.

I am not attaching any sort of probability to the above scenario. But it is an interesting thing to think through.

thanks

[Ibian]

Nocoiners must also not be investors. Because under the mantra of "buy low, sell high", then every asset in life would be considered a ponzi by their definition.

Although personally, I abhor the idea of selling bitcoin back for fiat. Especially since I went through all the trouble of obtaining it in the first place. I'd rather be able to spend it for everything, including paying bills and taxes with it. The only reason I would ever sell bitcoin for fiat is if I couldn't purchase the good or service I needed with bitcoin directly.

Some of you hypocrites are talking out both sides of your ass though. You can't square spouting out "Bitcoin is money, and better than fiat! Fuck banks!" while also muttering "I can't wait for the next ATH so I can cash out [to fiat]!" Those two philosophies are diametrically opposed, in case you were wondering.  

Complementary, is the word you are looking for.

[Yaplatu]

 

[infofront]

...or...

CSW is about to employ mad ninja judo skillz, to redirect bitmain's hash power to stall the BTC chain. Perhaps. (?)

In terms of known hash power, Bitmain's dwarf's CSW's - at least when you include that currently devoted to BTC. However, CSW has always had enough hash power to achieve his objective.
At the 2017 Aug fork, he had enough to mine the first blocks ensuring the viability of the BCH chain.
In the last few days, his hash power has ballooned to large majority for SV on the BCH chain.
Does he hold more in reserve? How much?

We know Bitmain holds a lot of BCH. This would indicate a commitment to ensure the ongoing viability in BCH. They currently advocate ABC. If they retain that commitment, things could get interesting.

CSW has indicated his intent to bury the ABC fork under the SV fork. In the case that he controls previously-unimagined hash power, currently in stasis...

CSW could deploy just enough hash power to indeed 'bury' the ABC fork. If Bitmain stays committed to the ABC fork, they would need to redirect hash power from BTC to BCH/ABC. Assuming again that CSW has quasi-unlimited hash power in reserve, he can continue to deploy additional hash power to keep ABC buried. In order to ensure the continued viability of ABC, Bitmain would need to redirect yet additional hash power from BTC to BCH. Bitmain in this manner could possibly be drawn into redirecting most or all of its hash power from BTC to BCH.

If Bitmain's hash power is redirected from BTC to BCH, what happens to the BTC chain? Is this enough to stall the chain? When is the difficulty retargeting?

If enough hash power is pulled from the BTC chain, this will slow down tx processing appreciably. This could be accompanied by a large volume of small-value txs (sometimes referred to as 'spam txs'). The BCH community has already developed flooding tools used in the Gigablock Test Initiative. This combination could crowd other activity out of the chain, making it economically non-viable. The net result would be rendering the BTC chain useless for economic activity. If sustained, possibly followed by chain death.

I am not attaching any sort of probability to the above scenario. But it is an interesting thing to think through.

thanks

jbreher deserves to be crowned, as he is clearly at the helm of BCH theorycrafting.

[xhomerx10]

is crypto done ??  

 Don't worry, these hats are guaranteed to last a lifetime. ^*  



 Avatar-sized

https://i.imgur.com/CBAx5Qu.jpg <- not correct

^* The lifetime of a common housefly.

 

edit: the avatar-sized image was flawed.  It was 120X81 and it needs to be 120X80 so you get to take advantage of the lifetime guarantee!

Avatar-sized

[bitserve]

WTF?! Ethereum Classic is not a clone, it's the real Ethereum!

[bitserve]

is crypto done ??  

 Don't worry, these hats are guaranteed to last a lifetime. ^*  

 Avatar-sized




^* The lifetime of a common housefly.

 

Amazing hat! It looks absolutely great even in small size.