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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 25529300 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. (158 posts by 14 users with 9 merit deleted.)
jbreher
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April 08, 2019, 07:03:01 PM

What would you have me do? For the eleventy-bajillion-and-oneth time, a large number of so-called 'nodes' provide no value to the network as a whole. Of course, I'll probably continue to run a full-validating, non-mining wallet client or three for myself, as I like to be able to create txs that need no intermediaries.

For the twelth bajillionth time, a large number of nodes help speedier propagation of transaction information through the network. They ensure robust communication of blockchain information --- why can't you get this??

Because your assertion is absolutely false. Miners are almost universally-connected. The only study that I am aware of that ever looked into the matter showed that something like 98% of all hash power is connected at a distance of 1.2 hops (actual numbers may be misquoted by an insignificant amount - I'm working from memory here). This is the 'the network' to which you refer. The so-called 'full nodes' are but barnacles hanging off Bitcoin's network. I can get my tx to one of these universally-connected miners on the first hop. If you are unable to do so, that's on you.

All that your so-called (improperly, I might add) 'nodes' can add to this is to follow along gossipping to each other long after essentially all the miners have your tx.

What will you do when groups spam your small blocks, leading to the txs you desire unable to get included in the chain in under weeks, and even then at a cost of $thousands?

Its already happening periodically, for over a year it would seem; starting around November 2017.

https://cointelegraph.com/news/analyst-suspicious-bitcoin-mempool-activity-transaction-fees-spike-to-16

I've personally watched people sending bitcoin to themselves with incredibly high fees during intermittent bursts for seemingly no reason other than to increase the average transaction fee.

Absolutely. A latent attack vector that exists as long as there is a centrally-planned production quota upon block space. An attack vector that can be exploited by competing cryptocurrencies or by nation-states with equal effect.
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April 08, 2019, 07:04:27 PM

^
indeed especially when it are the long always the same talks  Cheesy Roll Eyes

they never change, big blocks are not the solution, Bcash is just another ALT

get over it BUY-BTC and  HODL.
+3 merit,

Plenty of shitcoins can make large block sizes that means nothing except every little transaction being forever on the chain and the potential for fewer nodes as time goes on.

Now how about we get back to the price of Bitcoin and not discuss that SCAMcoin, which it definitely is as Roger has proved time and time again to try and trick uninformed people into buying it.
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April 08, 2019, 07:06:30 PM

Electrum Faces Another Fake Wallet Attack, Users Reported to Lose Millions of Dollars

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Bitcoin (BTC) wallet service Electrum is facing an ongoing Denial-of-Service (DoS) attack on its servers, the company reported on Twitter on April 7.
According to tech news website The Next Web, the new attack has caused users to lose estimatedly millions of dollars to date, with a single person alone reportedly losing about $140,000.

The ongoing DoS attack was allegedly launched by a malicious botnet of more than 140,000 machines, and aims to steal users’ Bitcoin by referring them to fake versions of Electrum software. Citing an unnamed security researcher, the article says that the recent DoS attack is deployed on a new level and was launched about a week ago.

https://cointelegraph.com/news/electrum-faces-another-fake-wallet-attack-users-reported-to-lose-millions-of-dollars
This is why you need to run your own node + electrs.
Only way to be a first class bitcoiners: don’t trust verify.
Monetary sovereignty comes at a little cost
jbreher
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April 08, 2019, 07:07:27 PM

You're the guy who used to refer to bitcoin as "segwit coin" remember?

What of it? I stand by the statement. Do you find the disambiguation as 'SegWit Coin' perjorative? Are you embarrassed by SegWit? I maintain that the term 'SegWit Coin' is a useful disambiguation which makes it quite clear that one is referring to the BTC fork of Bitcoin. Though, admittedly, some (quite a few, actually) silly insecure ninnies got their panties in a bunch over my use of the term. To appease such snowflakes, I have more recently been using the term 'Bitcoin Core', which still provides the same disambiguation, while reducing the incidence of [~triggering intensifies~].

Obviously I'm not embarrassed about SegWit because I don't feel the need to deride bitcoin by calling it 'segwit coin'.

If you're 'just fine with SegWit', then why does my referring to BTC as 'SegWit Coin' make you so upset?

As I clearly stated, I was not doing it to deride, but rather to disambiguate. But I guess you missed that in your rush to outrage.
Ibian
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April 08, 2019, 07:08:44 PM

Bitcoin is whatever the largest amount of network power says it is.

At least this position is supportable by reasoning - from one of several possible logical sets of axioms.

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Your side lost, yogi.

'Lost' implies finality. Yet this game is open-ended.
Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.
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April 08, 2019, 07:11:33 PM

Bitcoin is whatever the largest amount of network power says it is.

At least this position is supportable by reasoning - from one of several possible logical sets of axioms.

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Your side lost, yogi.

'Lost' implies finality. Yet this game is open-ended.
Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.
Maybe it Roger can buy more Bitcoin named things and confuse enough people entering crypto he'll win!

I mean that's what he's been trying to do all this time.
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April 08, 2019, 07:16:49 PM

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.
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April 08, 2019, 07:18:19 PM

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.
Oh are you claiming Craig is Satoshi?
bitebits
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April 08, 2019, 07:18:49 PM
Merited by Hueristic (1)

I love you guys, but can we please introduce a STFU Thursday for both JJG and jbreher. Thanks.
jbreher
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April 08, 2019, 07:20:33 PM

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.
Oh are you claiming Craig is Satoshi?

Again? We've been over this. Several times. No, I am not claiming such.

Relevance? None that I can see.

Now, would you like to talk about the scenario I have been challenged to outline, or are you just going to throw more irrelevant shit?
JayJuanGee
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April 08, 2019, 07:24:52 PM
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Blah blah blah larger block blah blah


You have bcash and bsv with larger blocks, go there you have options. What part of we don't want larger blocks is so hard to comprehend

Yeah, I get it. But some here seem utterly oblivious to the consequences thereof.

No need to save us bro.  Go save someone else.
It isn't saving us when he knows who he partners with, the scoundrels looking to manipulate and lie to force their profit.

I don't partner with anyone. Well, except my spouse.

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Roger does it through pretending Bcash is Bitcoin, Jihan floated the price with the force use of it for hardware, Craig lies about being Satoshi and having those follow his "vision". It's all bullshit of these scumbags trying to force a profit and have some sort of power and fame.

You know what amuses me no end? People in the Bitcoin Cash space talk about the technical and economic attributes of Bitcoin Cash (and that of Bitcoin Core), while people in the Bitcoin Core space almost invariably speak about Bitcoin Cash in terms of Craig, Roger, and Jihan.

What are all these names you are spouting out, j-"care"-breher?  

There is bitcoin, and there are bcash variants.  You seem to be renaming things, including attempting to rename bitcoin.. what the fuck?   I know that it is not the first time that you have attempted to rename bitcoin things.  It seems to be part of your MO.

Let's try to at least keep matters straight, and remember you are in a bitcoin thread?  so when you talk about bitcoin, you don't need to attach any prefixes or suffixes in order to clarify what you are talking about, but if you refer to bcash variants, then using the word bitcoin within them is confusing in the best case scenarios and misleading for others who might not know what the fuck you are talking about.  

Remember there is only one bitcoin, and the various forks of bcash don't become bitcoin or a variant of bitcoin merely because they forked or they have some kind of root in bitcoin and are attempting to market themselves as such.  

Get real.   Roll Eyes   Tongue  
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April 08, 2019, 07:28:06 PM

noon wall report
brought to you today by GAINZ Prophylactic Corptm The company you loved to be screwed by.

A new higher high sees bitcoins price inching upwards towards a significant resistance zone. Weakening asks and rising bid levels correlate into another probable retest of this area in the $5.4k to $5.5k range. Make no bones about it gentlemen..the next 48 hours are critical. #dyor



6h

#stronghands
kingcolex
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April 08, 2019, 07:32:39 PM

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.
Oh are you claiming Craig is Satoshi?

Again? We've been over this. Several times. No, I am not claiming such.

Relevance? None that I can see.

Now, would you like to talk about the scenario I have been challenged to outline, or are you just going to throw more irrelevant shit?
Well I'm more about that irrelevant shit, so if you don't believe Craig is Satoshi then you must agree he is a liar.

You also would agree that he is a major part of the future of Bchsv, and he works closely with the developers.

Now these developers must believe he is Satoshi right? If not then why would they follow his ideas and paths on Bitcoin while all under the title of Satoshi's Vision?

So you're following a coin that you know is led by a liar, who has the power to push the devs into his vision as he claims he is Satoshi and that is what the coin is about.


And you think a flipping would happen because too many people are using Bitcoin that the blocks are constantly full and that
1. No one would be able to get a block size increase
2. No 2nd layers would be implemented well enough
3. They would choose your flavor of alt and not something else like Ethereum?

That's quite the fucking longshot.
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April 08, 2019, 07:37:51 PM

Bitcoin is whatever the largest amount of network power says it is. Your side lost, yogi.
I'd say it's more real marketcap, that shows who the majority believe is worth more and the "real" Bitcoin"

But what constitutes bitcoin, the project was released with one document, that has been completely disregarded and you call that Bitcoin based on a trading markets completely irrelevant to the project itself?

Oh my, are you serious!!!!!

You don't know what bitcoin is, sirsplashalot?  

You might be beyond repair....   You are trying to participate in a bitcoin thread, but you do not know what bitcoin is, yet?

Perhaps this thread needs at least a basic entry level questionnaire in order that peeps understand at least the existentialist part of bitcoin, which seems to be clearly resolved already... and gone over and over and over...

Go study a bit, sirsplashalot,** and then come back here with better and more thought out question(s).

** Hint:  you are not going to become more informed about "what is bitcoin" by participating in r/btc, getting your information from bitcoin.com or other bcash pumping information sources.. Many of those "information" sources are loosely connected to reality, at best.   On the other hand, if you are able to understand what you read (which seems a bit questionable at this point), you might be able to just follow this thread for a while or go back and read this thread more before you post any further nonsense?  Perhaps?
Ibian
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April 08, 2019, 07:55:50 PM

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.
That would destroy all faith in the system. You didn't even mention how any of the other brands would improve the situation. So your only scenario is a complete collapse of blockchain technology as we know it?
jbreher
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April 08, 2019, 08:11:42 PM
Last edit: April 08, 2019, 08:30:15 PM by jbreher

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.
That would destroy all faith in the system.

Conclusion requiring support of facts not yet entered into evidence. IOW, 'Sez you'.

It ... may. Unlikely. More likely, it would destroy all faith in the Core-ian vision. Of course, seeing as SV and BCH both hew more closely to the original definition of Bitcoin than does BTC (especially SV), this provides a reasonably sound counter-narrative against 'Oh noes! Core is broken, so all Bitcoin was inherently doomed from the start'. Nay, such a situation would vindicate the large block position. The position that did not throw the baby out of the pram. The position that carried satoshi's experiment into the future without fuckitating it.

Quote
You didn't even mention how any of the other brands would improve the situation.

I described it over and over (and over, and...) BTC is the only Bitcoin fork that exhibits this flaw of a centrally-planned production quota capping persistent block size, let alone one set deliberately below any rational demand for tx capacity.

Quote
So your only scenario is a complete collapse of blockchain technology as we know it?

In order to make this assertion, you're either not reading what I am clearly articulating, or you are not thinking about those writings. (Or you are stupid, or dishonest - but that can't be the case, can it?)
jbreher
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April 08, 2019, 08:14:47 PM
Last edit: April 08, 2019, 08:28:26 PM by jbreher

Well I'm more about that irrelevant shit

So I am coming to know.

Now these developers must believe he is Satoshi right?

I imagine some do, others do not. In fact, I am quite certain of that.

Quote
If not then why would they follow his ideas and paths on Bitcoin while all under the title of Satoshi's Vision?

Why do you assert they are following CSW's ideas and paths? One does not need to believe CSW is satoshi in order to believe that the original design of the Bitcoin protocol was correct. Working to maximize SW that interacts through that protocol is fully orthogonal to any belief of CSW-satoshi equivalence.

Now, would you like to talk about the scenario I have been challenged to outline -- upon which you have waded in with non-sequitur -- or are you just going to throw even more irrelevant shit?
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April 08, 2019, 08:19:54 PM


https://twitter.com/ChartsBtc/status/1100807812140023809


https://twitter.com/ChartsBtc/status/1100807812140023809

Max Supply 21.000.000 BTC

Circulating Supply 17.634.825 BTC

Losses +/- 4.000.000 BTC
(Lost wallets, thefts, dead people, hard drives ....)

BTCuy or you stay without.

"If you don't believe me or don't get it, I don't have time to try to convince you, sorry."

Satoshi Nakamoto
kingcolex
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April 08, 2019, 08:35:11 PM

Well I'm more about that irrelevant shit

So I am coming to know.

Now these developers must believe he is Satoshi right?

I imagine some do, others do not. In fact, I am quite certain of that.

Quote
If not then why would they follow his ideas and paths on Bitcoin while all under the title of Satoshi's Vision?

Why do you assert they are following CSW's ideas and paths? One does not need to believe CSW is satoshi in order to believe that the original design of the Bitcoin protocol was correct. Working to maximize SW that interacts through that protocol is fully orthogonal to any belief of CSW-satoshi equivalence.

Now, would you like to talk about the scenario I have been challenged to outline -- upon which you have waded in with non-sequitur -- or are you just going to throw even more irrelevant shit?
This entire discussion is irrelevant it's the Bitcoin Wall Observation not the bastard alt fork wall thread.
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April 08, 2019, 08:41:02 PM

mmmm paid shill's @ WO,

price in bearmarket/sharp downtrend = r0ach and same people posting @every page, claiming BTC = useless and has no value and only PM are the real thing etc...... not hearing him about the matter @ these times  Roll Eyes  Roll Eyes

price in UP trend = r0ach, but then people as Jbreher comes a life trying to speak out @ every page that Bcash, ver, CSW are the real thing, Jbreher and other Bcash shill's will also be silenced about their matter as well.  Grin  Cheesy


WO just know there is only ONE BTC.....
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