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

[DaRude]

Any prevailing theories for this dump? Can't keep up with all the posts. I'm guessing the terrorism and the proposed crack down on cryptography in UK/EU served as a catalyst?

[thefunkybits]

Buy Dogecoin or no??


1D crossover looks imminent and support is holding nicely at 60 for a few months now...

[luckygenough56]

nah it's just trolls pushing the price down, such leading figures

[keewee]

Any prevailing theories for this dump? Can't keep up with all the posts. I'm guessing the terrorism and the proposed crack down on cryptography in UK/EU served as a catalyst?

That's not a bad guess. They could extend this to cryptocurrencies if they figure "extremists" are being financed that way

[luckygenough56]

Buy Dogecoin or no??
1D crossover looks imminent and support is holding nicely at 60 for a few months now...

didn't follow doge news ? Why would it go up ? halving ? switching to pos ? Nascar 2.0 ?

[BlindMayorBitcorn]

Any prevailing theories for this dump? Can't keep up with all the posts. I'm guessing the terrorism and the proposed crack down on cryptography in UK/EU served as a catalyst?

I think Russia super banned Bitcoin

Except for Btc-e, most Bitcoin related sites are now blocked

[JorgeStolfi]

The good news is that the network distribution is well balanced.

Weeeelll, yes, all the top 4 companies would have to collude in order to launch a 51% attack (e.g. to take 100% of the rewards, by ignoring blocks mined by other miners and thus orphaning them).

indeed and then loose the faith of the community and go bankrupt for what?

People that adopt BTC as a trading platform should understand that many Bitcoin participants from all over the world with great minds are working on the tech satisfy ego, rather then the speculative opportunities.

Can you quantify that 'faith of the community' in dollars?  Starting from: what percentage of the bitcoin holders and traders would understand what that piechart means, or care about it?

AFAIK, the only way to tell whether a 'starving attack' is going on would be this chart
https://blockchain.info/charts/n-orphaned-blocks?showDataPoints=false&timespan=&show_header=true&daysAverageString=56&scale=0
(Note that it is smoothed by 56-day running averaging, check the URL).  It shows that one found block gets discarded every 16 hours or so (because the next block found does not use it as parent).  Note the chart is zero before Mar/2014; I don't know whether the count was really zero, or just there is no data for that period. 

Anywy, these orphan blocks may be just accidents, or maybe some miner is doing something like Sirer's selfish mining attack.

If a coalition with 60% of the hashpower were really trying to steal an unfair share of the rewards, we probably would see many more orphan blocks. Or maybe not, I don't know.  Perhaps the coalition (that could deploy thousands of relay nodes of their own) would find a way to cloak the attack and/or hide the identity of the attackers.

[DaRude]

Any prevailing theories for this dump? Can't keep up with all the posts. I'm guessing the terrorism and the proposed crack down on cryptography in UK/EU served as a catalyst?

I think Russia super banned Bitcoin

Except for Btc-e, most Bitcoin related sites are now blocked

Meh been in the works forever plus it wasn't that big of a market to start with. HA they blocked informative websites but not the Russian exchange, politics at its best

[Tony Abbot]

Please friends.
Just hit ignore on the trolls.
Do not quote them at the least. I don't want to even know they exist.
I know I am not alone

Now that's worth quoting. Thank you for being voice of much reason in this sea of trolls.

What are they gonna do with their lives if Bitcoin really does die?... Oh yeah, it can't. It's too late and it's ALWAYS gonna be worth SOMETHING.
They know it, we know it.
WE have an ignore button which when pressed, makes out time here more bearable.
THEY have an ignore button that will never press. They can't. They need their audience in order to exist at all.  

So look at it like this, we have a button and they don't.... and I pity dem fools.

I'm Hodling 40 BTC and have cash on the exchange for more. My lack of liquidity in the early days meant I couldn't get in until $400. It's a lot of money for me.
 So I am DOWN...... those of you who have managed to dodge my ignore button,  troll away,  and revel in the sensation you feel as you rub my honest face in my losses.  
I'm happy I'm not on of you. The trolls that is,, even though the simple joy it brings you all must be satisfying, I cannot be that simple. It's both a blessing and a curse. Part of me does wish I could feel satisfied with such easy and cheap thrills but I can never go there.

Bitcoin isn't going anywhere. Thats the truth.

[derpinheimer]

lol taht green dildo on bitstamp all from a 300btc buy

[Sitarow]

The good news is that the network distribution is well balanced.

Weeeelll, yes, all the top 4 companies would have to collude in order to launch a 51% attack (e.g. to take 100% of the rewards, by ignoring blocks mined by other miners and thus orphaning them).

indeed and then loose the faith of the community and go bankrupt for what?

People that adopt BTC as a trading platform should understand that many Bitcoin participants from all over the world with great minds are working on the tech satisfy ego, rather then the speculative opportunities.

Can you quantify that 'faith of the community' in dollars?  Starting from: what percentage of the bitcoin holders and traders would understand what that piechart means, or care about it?

AFAIK, the only way to tell whether a 'starving attack' is going on would be this chart
https://blockchain.info/charts/n-orphaned-blocks?showDataPoints=false&timespan=&show_header=true&daysAverageString=56&scale=0
(Note that it is smoothed by 56-day running averaging, check the URL).  It shows that one found block gets discarded every 16 hours or so (because the next block found does not use it as parent).  Note the chart is zero before Mar/2014; I don't know whether the count was really zero, or just there is no data for that period.  

Anywy, these orphan blocks may be just accidents, or maybe some miner is doing something like Sirer's selfish mining attack.

If a coalition with 60% of the hashpower were really trying to steal an unfair share of the rewards, we probably would see many more orphan blocks. Or maybe not, I don't know.  Perhaps the coalition (that could deploy thousands of relay nodes of their own) would find a way to cloak the attack and/or hide the identity of the attackers.

"what percentage of the bitcoin holders and traders would understand what that piechart means, or care about it?"

From what it I have read you may be mistaken about what I find valuable in this technology and the network.

To me the value is what you send and what the other party receives is 100% verified by 3rd party participants and I can't not say the same for ripple as it is centralized in its inception.

Sure I am for profit yet it is not my primary motivation.

However as far as the bitcoin protocol, the block chain, and the network strength is the only other factor that is vital for the operation of the bitcoin crypto and to use it how you feel. As far as a means of currency when used to purchase rather then "HOLD" USD EURO CAD and BTC the "Value" is not a factor unless you are a miner motivation by profit.

Many bitcoin miners myself included have donated our cpu/gpu and fpga cycles to distributed computing with little reward.

That truth is something many speculators here fail to grasp.

THE technology is.

IT has been proven that the simplest way to "CHEAT" anyone using any currency including bitcoin is by use of social engineering partnered with cleverly crafted scams so as to profit from others lapse in judgment.

[abercrombie]

is crypto done??   

[JorgeStolfi]

What are [the "trolls"] gonna do with their lives if Bitcoin really does die?...

I don't think that bitcoin will die so soon.  Bitcoin does not need to be worth more than 0.10$ to fullfill its purpose of a proof of concept, and will find plenty of volunteers to keep it running, even at that price.

What may die is the economy that was built on top of it, that assumed it would replace national currencies replace paypal replace Western Union become the 'gold backing' for a multitude of better altcoins.

[Wandererfromthenorth]

Finally a good reason.




https://www.reddit.com/r/Bitcoin/comments/2scsyq/why_i_think_this_is_the_best_opportunity_ever_for/

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[D05GTO]

The best thing a bulltard could do right now is to remove all the "trolls" from the ignore list and just fucking listen to some arguments.

Ignorance is not bliss.

This is sinking faster than the Titanic and the bulltards are singing happily on their violins, because they removed all the negativity.

To me the ignore option is a way to weed threw the wheat vs the shaft in this thread, and then if they feel they have missed something then open up the floor to the "other" perspective.

I just wanted to add.

I remember playing a game called Bards Tale. There was a chapter in the game where the hero had to listen to confined prisoners in order to free them. However only 1 truly knew the answer. Yet the other 2 made such a convincing argument that they were correct.

If you ended up listening to the one that actually knows the sequence then all the prisoners would not die.

IF you are a bull or bear, be humble and KNOW THIS. Hindsight is 20/20.

It's funny because I played Bards Tale while in college and remember that.  And the 15 minutes it took to load the floppy. haha.

[cbeast]

What are [the "trolls"] gonna do with their lives if Bitcoin really does die?...

I don't think that bitcoin will die so soon.  Bitcoin does not need to be worth more than 0.10$ to fullfill its purpose of a proof of concept, and will find plenty of volunteers to keep it running, even at that price.

What may die is the economy that was built on top of it, that assumed it would replace national currencies replace paypal replace Western Union become the 'gold backing' for a multitude of better altcoins.

Everyone will lose interest in this and every other public forum. The next crypto will be supported and premined by central banks. There will be nobody that cares about your trolling then.

[Sitarow]

What are [the "trolls"] gonna do with their lives if Bitcoin really does die?...

I don't think that bitcoin will die so soon.  Bitcoin does not need to be worth more than 0.10$ to fullfill its purpose of a proof of concept, and will find plenty of volunteers to keep it running, even at that price.

What may die is the economy that was built on top of it, that assumed it would replace national currencies replace paypal replace Western Union become the 'gold backing' for a multitude of better altcoins.

Everyone will lose interest in this and every other public forum. The next crypto will be supported and premined by central banks. There will be nobody that cares about your trolling then.

There are serious trust issues that are inevitable with your suggested solution. Employee theft is a reality and under such controls they would have a field day.

However I can see them using "bitcoin" as a trusted communication tool between large institutional banks.

[simmo77]

To me the ignore option is a way to weed threw the wheat vs the shaft in this thread, and then if they feel they have missed something then open up the floor to the "other" perspective.

If you want people to take you seriously, you need to improve your written english.

Threw /= Through   (I know they sound the same).

You sort "the wheat from the chaff" (chaff is the hull of the wheat which is not digestible in humans but is often used for livestock fodder)

[Wandererfromthenorth]

To me the value is what you send and what the other party receives is 100% verified by 3rd party participants and I can't not say the same for ripple as it is centralized in its inception.

I'm just gonna step in and say that while the ripple network requires some degree of counter-party risk with gateways to move any currency in the network, XRP (its native currency) is 100% decentralised like BTC. Only its distribution is centralised, aside from that, to send XRPs around it's basically the same thing as BTC, but without POW and instantly.

But again, the counter-party-free aspect of bitcoin is mostly related to the privacy-paranoia vague narratives of bitcoin in the first place.