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

[coinableS]

WHOAA    Look at that 1 HR long/short sentiment.

http://bfxdata.com/sentiment/longshort.php

I still think it's too soon to jump back into a long.

[SnokkomBTC]

Lol, I think we are a little bit oversold. 

[podyx]

Some longs definately have to get burned

Remember, this could be the last beartrap, it has to be decently believable atleast

[macsga]

Some longs definately have to get burned

Remember, this could be the last beartrap, it has to be decently believable atleast

Wisely spoken. Are the dumped coins over yet? Or were not there at all and this is all orchestrated?  

[HalFinneysBrain]

What the heck, why are margin longs increasing and shorts decreasing on this drop?  I wouldve thought it would be the opposite.  

[dreamspark]

What the heck, why are margin longs increasing and shorts decreasing on this drop?  I wouldve thought it would be the opposite.  

Exactly why this is very very bad.

[solex]

I am not sure, but i think you do not understand how the bitcoin network works. Every day we have several "hard forks" in the form of orphaned blocks. You simply do not understand the consensus mechanism, if you insist that A and B blockchains can coexists - with the same mining power behind them!- for more than say 2 consecutive blocks (on avg 20 minutes), and that they both individually represents bitcoin as per se. No, they do not.

The whole point of the consensus mechanism is to only and ever follow the longest chain of blocks in the long run, a.k.a. deciding which chain of blocks (A vs B) represents reality, and totally disregard transactions happened in the less long chain of blocks once a the n+1 block found. Hence your theoretical "B" chain would be instantly will be abandoned by the majority of miners (mining is automated by algorithm, not a press a button every ~10 min if you accept or not), resulting in that all the nodes will continue downloading and propagating the longer A chain, essentially destroying the B chain by the time the next block found. That B chain n-1 block became an orphaned block.

Yes, you can mine your own forked "B" copy of the blockchain at your laptop - offline! - until you start synchronise with the network, your B chain gets instantly overwritten by the majority A chain.

Also, your B chain will not ever propagate because: the moment you fork, you also inherit the difficulty of the A chain. That difficulty is so high, that your laptop will practically never finds the next block (which by the way will be without any transactions, since you are offline from the main A chain nodes), and without no new block, your offline node/mining copy will never reach enough blocks (aprx 2600) to reduce difficulty. This means that B chain will be hopelessly shorter than the A chain -> rejected by all miners/nodes on A chain.

TLDR.: Your idea will never work -not even in theory, since you missing the point in the first place- because the whole point of the PoW census is to have only ONE representation of the true about transactions (unspent BTCs sitting on addresses). By the way any full node wallet has the whole copy of the blockchain, every time you go offline more than 1 block, your copy is forked from A chain to B chain (n-1 long blockchain)....

EDIT: if you think that the state of the blockchain is a political decision, you are seriously should STOP posting bullshit here please. You do not understand the very basic idea: consensus through mathematical proof independent of central authority ( which is politics...)

Well Said!

The sad truth is that not only does Jorge fail to comprehend how PoW consensus works, but he also fails to understand why Bitcoin is sound money. He has spent a year on here, most of that time totally wasted, including the time of many of us here in this forum who are willing to learn from others.

[Ayle56]

What the heck, why are margin longs increasing and shorts decreasing on this drop?  I wouldve thought it would be the opposite.  

Where are you getting your information about longs and shorts from?

[dreamspark]

What the heck, why are margin longs increasing and shorts decreasing on this drop?  I wouldve thought it would be the opposite.  

Where are you getting your information about longs and shorts from?

http://bfxdata.com/

[adamstgBit]

What the heck, why are margin longs increasing and shorts decreasing on this drop?  I wouldve thought it would be the opposite.  

Where are you getting your information about longs and shorts from?

http://bfxdata.com/

i like to watch this page  first graph

http://bfxdata.com/combined/btc.php

[Wandererfromthenorth]

RIP:

according to "sources", 130k BTC were stolen:

http://www.deepdotweb.com/2015/03/18/interview-with-nswgreat-evolution-staff-member/

[ghandi]

Paycoin going nuts

[AZwarel]

EDIT: if you think that the state of the blockchain is a political decision, you are seriously should STOP posting bullshit here please. You do not understand the very basic idea: consensus through mathematical proof independent of central authority ( which is politics...)

Well Said!

The sad truth is that not only does Jorge fail to comprehend how PoW consensus works, but he also fails to understand why Bitcoin is sound money. He has spent a year on here, most of that time totally wasted, including the time of many of us here in this forum who are willing to learn from others.

Thanks, appreciated:)

Well, i do everything i can to learn. Even finished that MOOC of Nicosia Univ., i had the privilege to learn from Andreas M. A. himself!

That is why i am frustrated with all the miss information some spread here; the knowledge is available and free, yet they choose to remain in ignorant.

[HalFinneysBrain]

Paycoin going nuts

Why are some people so stupid.  Good, interesting, undervalued altcoin projects exist with interesting features. 

But they waste their money on paycon instead.

[adamstgBit]

if you take a step back and realize that there might be more long demand as the bear market comes to an end and the bull market starts....



21M in longs is no where near the 31M we saw last year, and shorts are actually pretty high compared to last year, so i'm not TOO concerned about it.

I'm shitting bricks all hope is lost!!!

[Silverspoon]

we're doomed

You're such a drama queen

He's right tho.  You're doomed.

[gentlemand]

Paycoin going nuts

Why are some people so stupid.  Good, interesting, undervalued altcoin projects exist with interesting features. 

But they waste their money on paycon instead.

Glittery websites and impressive promises that'll never happen is what the majority of people want. The market has spoken for now.

[Silverspoon]

...
Well, i do everything i can to learn. Even finished that MOOC of Nicosia Univ...

That's the one which partnered up with NeoBee, right?

[dreamspark]

if you take a step back and realize that there might be more long demand as the bear market comes to an end and the bull market starts....



21M in longs is no where near the 31M we saw last year, and shorts are actually pretty high compared to last year, so i'm not TOO concerned about it.

I agree, the problem is that it takes far less of a movement in $ terms to liquidate that many longs at a higher price.

[Wandererfromthenorth]

if you take a step back and realize that there might be more long demand as the bear market comes to an end and the bull market starts....



21M in longs is no where near the 31M we saw last year, and shorts are actually pretty high compared to last year, so i'm not TOO concerned about it.

I'm shitting bricks all hope is lost!!!

Yes but BTC price is a lot lower than at the beginning of 2014 so the USD value of those shorts is a lot less.
Basically they didn't increase too much in USD terms.