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

[bitllionaire]

market is still lateral, I think that if we don't break  300$ hardly this will go down

[Norway]

I wonder how much of a psychological barrier the USD-BTC exchange rate is for the Chinese portion of the market cap. It's somewhere between only thing that matters and DGAF.

They probably think about the 2000 yuan level 

[ChartBuddy]

Coin
Explanation

[sAt0sHiFanClub]

If devs decided to make this change,  miners and nodes would then have the option to follow or not, essentially what you are suggesting would be a fork/ hard fork, saying it ain't so ^^ is semantics.

You can test your theory, create a hard fork of BTC now, increase the limit to 42 million and convince all of the nodes and miners to follow you.

I will give you my vote now.

NO

Its not a theory. Its there in the code.... 

May be you could show us the code? Find the line that says there will be 21 million. The code is on the net. Please give the link to the file and the line number. Thank you.

https://github.com/bitcoin/bitcoin/search?utf8=%E2%9C%93&q=21000000

Nice 

What the fuck are you looking for??  Thats not the code that defines the cap. Jesus, you guys are truly clueless about all this, arent you?

[Sitarow]

[Erdogan]

If devs decided to make this change,  miners and nodes would then have the option to follow or not, essentially what you are suggesting would be a fork/ hard fork, saying it ain't so ^^ is semantics.

You can test your theory, create a hard fork of BTC now, increase the limit to 42 million and convince all of the nodes and miners to follow you.

I will give you my vote now.

NO

Its not a theory. Its there in the code....  

May be you could show us the code? Find the line that says there will be 21 million. The code is on the net. Please give the link to the file and the line number. Thank you.

https://github.com/bitcoin/bitcoin/search?utf8=%E2%9C%93&q=21000000

Beat me to it

It's not gonna change, it makes no sense for anyone in the system for it to change (including miners). Increasing it is completely zero-sum (well not, actually, because the mere fact that it changed would create uncertainty in an economy based on certainty).

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

[okthen]

Tension is accumulating!
About to explode somewhere... Downwards, as a traditional weekend dump?

[bassclef]

$300 tonight, let's hope we stay above this time

If we slay that bear whale

ruh roh ... did u hear that everybody ?? there is a bear whale. everyone stay calm... we will get billyjoe to get the 'four punch raiders' to take him out with a quick and powerful 'chinese panic' flash dumps and right when he thinks is great moment hit him with the short squeeze. got it everyone ?? ok break. on 10. go.

LOL

Realistically I think the situation is that longs are way over extended at a ridiculous interest rate and if the price doesn't start to move upwards soon enough we will come crashing down.  Just like how BJA spoke about a cascade of shorts going up, I think the tables have flipped.

Ever since BTC broke 300 I have had a bad feeling and it's getting worse and worse.  I am continuing to buy, but i'm out of leverage till we figure out which way the market is going to go.  Id rather jump in late than get burned.

The interst rates have jumped but only for the last 2 million or so that was borrowed. I'm still locked into my month long rate that is around .03 average. So there isn't enough longs with high rates that would close out and cause a cascading effect. If they decide to close out I'll be sure and scoop up some of their coins with my extra borrowed USD. And I know I'm not the only one willing to buy their coins.

I'm kicking myself that I didn't lock in some good long rates, and am now stuck with the FRR. I made enough profit from my previous 2 trades that it's not even a big deal, just annoying slightly that the cost of carry has essentially tripled. BFX doesn't do a very good job of explaining how reserving swap works and how to manage your loans--seems that it's a learned skill for the high rollers

The demand should bring some new USD in the near future, which will push the rates back down. But it may be awhile yet. Same thing happened on the short side last year if I remember correctly.

[Erdogan]

If devs decided to make this change,  miners and nodes would then have the option to follow or not, essentially what you are suggesting would be a fork/ hard fork, saying it ain't so ^^ is semantics.

You can test your theory, create a hard fork of BTC now, increase the limit to 42 million and convince all of the nodes and miners to follow you.

I will give you my vote now.

NO

Its not a theory. Its there in the code.... 

May be you could show us the code? Find the line that says there will be 21 million. The code is on the net. Please give the link to the file and the line number. Thank you.

Ive already  stated that the cap is derived from the following calculation  ( from main.cpp:1235)

    // Subsidy is cut in half every 210,000 blocks which will occur approximately every 4 years.
    nSubsidy >>= (nHeight / Params().SubsidyHalvingInterval());

Link to the file on github is

https://github.com/bitcoin/bitcoin/blob/4ad73c6b080c46808b0c53b62ab6e4074e48dc75/src/main.cpp#L1230

Right, but I don't see the 21 mill number in that line of code.

[Norway]

If devs decided to make this change,  miners and nodes would then have the option to follow or not, essentially what you are suggesting would be a fork/ hard fork, saying it ain't so ^^ is semantics.

You can test your theory, create a hard fork of BTC now, increase the limit to 42 million and convince all of the nodes and miners to follow you.

I will give you my vote now.

NO

Its not a theory. Its there in the code....  

May be you could show us the code? Find the line that says there will be 21 million. The code is on the net. Please give the link to the file and the line number. Thank you.

https://github.com/bitcoin/bitcoin/search?utf8=%E2%9C%93&q=21000000

Beat me to it

It's not gonna change, it makes no sense for anyone in the system for it to change (including miners). Increasing it is completely zero-sum (well not, actually, because the mere fact that it changed would create uncertainty in an economy based on certainty).

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

Sounds reasonable. Don't think it really matters, though  

[DonQuijote]

300$... here we go!

[JayJuanGee]

market is still lateral, I think that if we don't break  300$ hardly this will go down

Up and up and up and up we go..... .. come on baby... looking good, looking good!!!!


 

[sAt0sHiFanClub]

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

Im sorry. But I cant find an explanation for the above comment that doesnt involve you being an idiot.

What do you mean "OP didnt seem to know"?? Do you think I would make a statement on a forum without knowing my facts?  Of course I know where its defined. and if you look through the version control history, you will see that params.SubsidyHalvingInterval() is a more recent replacement for the original hard coded value ( which I may have alluded to earlier) Its been a while since Ive worked on that code, things change.

[empowering]

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

Im sorry. But I cant find an explanation for the above comment that doesnt involve you being an idiot.

What do you mean "OP didnt seem to know"?? Do you think I would make a statement on a forum without knowing my facts?  Of course I know where its defined. and if you look through the version control history, you will see that params.SubsidyHalvingInterval() is a more recent replacement for the original hard coded value ( which I may have alluded to earlier) Its been a while since Ive worked on that code, things change.

Ah good, might give you some time to work on your interpersonal skills. 

[sAt0sHiFanClub]

Right, but I don't see the 21 mill number in that line of code.

And you wont either - Its derived.  Block reward (nSubsidy) halving every four years means the rate of new coins diminishes over time until it tends to zero.

There is no 21000000 limit in the code. There is a 210000 block value which roughly dictates the 4 year halving period.

[Norway]

Ok.. this is a little embarrassing, but here we go...

I bought these to carry paperwallets when travelling in the future:
https://www.stashitware.com/boxer-briefs/

Well apparently there's a huge market for ppl who conspire to smuggle Coca Cola into the future.

PERFECT SECURITY! I put this cold wallet in the StashItWare briefs!

[sAt0sHiFanClub]

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

Im sorry. But I cant find an explanation for the above comment that doesnt involve you being an idiot.

What do you mean "OP didnt seem to know"?? Do you think I would make a statement on a forum without knowing my facts?  Of course I know where its defined. and if you look through the version control history, you will see that params.SubsidyHalvingInterval() is a more recent replacement for the original hard coded value ( which I may have alluded to earlier) Its been a while since Ive worked on that code, things change.

Ah good, might give you some time to work on your interpersonal skills. 

You really are out of your depth here. You cant add anything constructive. But you are a cunt. I will give you that.

[empowering]

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

Im sorry. But I cant find an explanation for the above comment that doesnt involve you being an idiot.

What do you mean "OP didnt seem to know"?? Do you think I would make a statement on a forum without knowing my facts?  Of course I know where its defined. and if you look through the version control history, you will see that params.SubsidyHalvingInterval() is a more recent replacement for the original hard coded value ( which I may have alluded to earlier) Its been a while since Ive worked on that code, things change.

Ah good, might give you some time to work on your interpersonal skills.  

You really are out of your depth here. You cant add anything constructive. But you are a cunt. I will give you that.

Takes one to know one hey?

Ha ha, awh diddums, not out my depth at all, I have given you my opinion you spiky condescending little so and so, and it is basically the truth of it.

Change the limit, and you have forked Bitcoin.

The rest is semantics and braying at the moon.

Stick that up your jumper.

[Norway]

That was half an answer (comments, and check code). My point was basically that the code defines the halvings, not the 21 million number, and the OP didn't seem to know. Anyway, I'm done.

Im sorry. But I cant find an explanation for the above comment that doesnt involve you being an idiot.

What do you mean "OP didnt seem to know"?? Do you think I would make a statement on a forum without knowing my facts?  Of course I know where its defined. and if you look through the version control history, you will see that params.SubsidyHalvingInterval() is a more recent replacement for the original hard coded value ( which I may have alluded to earlier) Its been a while since Ive worked on that code, things change.

Ah good, might give you some time to work on your interpersonal skills. 

You really are out of your depth here. You cant add anything constructive. But you are a cunt. I will give you that.

sAt0sHiFanClub ignored...

[sAt0sHiFanClub]

Stick that up your jumper.

Thats about the most grown up thing you have said all day. Obscene gifs dont really convey the intellectual gravitas that you seem to attach to them.
Thats why I called you a cunt. Because if you are going to express something, then express it.  There are a few people on here who can conduct a reasoned argument, I suggest you let them to it.

BTW Just because Im condescending doesn't mean you are not suffering from an inferiority complex.