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

[BlindMayorBitcorn]

Price goes up $20 and suddenly double spends are happening and a mining cartel takeover is imminent.

Get a life guys, or at least take it to the technical development thread where you can share your fears in a thread that's not a troll-fest. Oh wait, there's no one to feed your narcissism there. It only counts as therapy if you're paying $200 an hour you know.

People in this forum are simply discussing some of the bitcoin narratives regardless of price movements and suddenly some dude comes and calls everything "FUD" by "trolls" and takes the discussion as a personal attack.

It's just that we've been over it. Again and again and again. To the point that it seems planned and manipulative, even if its not intended in that way.

9 out of 10 lurkers would agree with this.

[luckygenough56]

been a long time without an exchange hacked or something i'm bored

[inca]

been a long time without an exchange hacked or something i'm bored

Give it a day or two. Support at 250 is gradually catching up with asks at 260.

[JimboToronto]

Why do Bitcoiners start double spacing their posts?

Because that's what civilized people do on forums and message boards to improve readability.

Otherwise you get walls of text.

Why do trolls always post over-sized images that increase scrolling?

Don't they know how to resize an image?

[paul2000]

This guy makes good points (read the other posts also):

https://twitter.com/patio11/status/583697371378257920

Basically, bitcoiners don't know how remittances actually work.

Of course it's more expensive to pull an automobile with a horse than only riding the horse.

[Ask Ken About Love]

Why do Bitcoiners start double spacing their posts?

Because that's what civilized people do on forums and message boards to increase readability.

Otherwise you get walls of text.

Why do trolls always post over-sized images that increase scrolling?

Don't they know how to resize an image?

Sorry Jimbo, forgot some of the posters here are flirting with senile dementia.  Guess eyesight start to go at ..how old are you now, like 80? 
I SAID GRAMPA!!
TIME FOR SOME FRESH DEPENDS!!
AND A SPONGE BATH!

[spooderman]

Why do Bitcoiners start double spacing their posts?

I thought the whole point of bitcoin was that you couldn't double space?

[BlindMayorBitcorn]

Why do Bitcoiners start double spacing their posts?

I thought the whole point of bitcoin was that you couldn't double space?

You're thinking double park.

[Ask Ken About Love]

This guy makes good points (read the other posts also):

https://twitter.com/patio11/status/583697371378257920

Basically, bitcoiners don't know how remittances actually work.

Of course it's more expensive to pull an automobile with a horse than only riding the horse.

The guy is on the money & hilarious.  I mean:

7/ Bitcoin's Internet cheering squad is a spontaneously organized boiler room. This is Bitcoin's #1 engineering and marketing achievement.

10/ Bitcoin's disaster recovery plan is a) get a cabal of people together in IRC, b) shut down the entire payment network, c) sort things.

11/ No, seriously, the decentralized nobody-needs-to-trust-anybody payments network *was shut down by an IRC channel's consensus* for 8 hrs.

What's not to like?

(double spaced for your readability pleasure)

[ChartBuddy]

Coin
Explanation

[JimboToronto]

Why do Bitcoiners start double spacing their posts?

Because that's what civilized people do on forums and message boards to increase readability.

Otherwise you get walls of text.

Why do trolls always post over-sized images that increase scrolling?

Don't they know how to resize an image?

-fart-

Still sore? Too much abrasive in the lube?

[KFR]

...
One mad man shouting at the inevitable tide is not worthy of your attentions.  

Let me help you with your mixed metaphors:
The phrase you meant to use is "casting pearls before swine."
You're welcome.

Oh the irony.  I'm quite happy with what I said thanks.

[JorgeStolfi]

Overstock's 2014 financial report filed with the SEC

At present we do not accept bitcoin payments directly, but use a third party vendor to accept bitcoin payments on our behalf. That third party vendor then immediately converts the bitcoin payments into U.S. dollars so that we receive payment for the product sold at the sales price in U.S. dollars.

Cryptocurrency-denominated assets were $340,000 [ about 1500 BTC ] and zero at December 31, 2014 and 2013, respectively

(They also had 180 million dollars in cash at year end.)

Overstock's CEO Patrick Byrne on Q4 2014 Results - Transcript

for example Bitcoin, Bitcoin cost us directly, we figure about 400 grand to get integrate and live with all the people we had on it such. We might allocate another 400 grand to that and $800,000 it was a bit of disappointment, incidentally Bitcoin I thought we will do at least $6 million or $7 million this year. And after the first month of sales, that seem possible I thought at least four would come domestically four or five and then there will be a few, couple of few international and the truth is nothing international showed up and almost no international sales and the domestic sales came in at $3 million.

[Odalv]

An attacker that controls more than 50% of the network's computing power can, for the time that he is in control, exclude and modify the ordering of transactions. This allows him to:

    Reverse transactions that he sends while he's in control
    Prevent some or all transactions from gaining any confirmations
    Prevent some or all other generators from getting any generations

The attacker can't:

    Reverse other people's transactions
    Prevent transactions from being sent at all (they'll show as 0/unconfirmed)
    Change the number of coins generated per block
    Create coins out of thin air
    Send coins that never belonged to him

[JorgeStolfi]

yes jorge take it to the technical discussion section you coward.

Oh, I already did, here in bitcointalk and on reddit.  The replies were the same: "the majority miners will not do that because it would render the coin valueless" and "if they do that, the faithful would move to an ASIC-incompatible clone".

Sorry, but the first claim is terribly naive wishful thinking (just look at how cartels act in other markets, e.g. international banks), and the second "defense" would be just a ridiculous form of economic suicide by a small set of irreducible ideologues.

[Ask Ken About Love]

...
Prevent some or all transactions from gaining any confirmations
...

...Making Bitcoin worthless for anyone not using the shiny new client

[Odalv]

...
Prevent some or all transactions from gaining any confirmations
...

...Making Bitcoin worthless for anyone not using the shiny new client

Shiny client without bitcoins(private keys) ... is not bitcoin client. -> It is some shit-coin

[Ask Ken About Love]

^What is it that you fail to grasp about "your BTC will be worthless unless you use the new client"?  What good is a coin you can't spend?

[JorgeStolfi]

An attacker that controls more than 50% of the network's computing power can, for the time that he is in control, exclude and modify the ordering of transactions. This allows him to:

    Reverse transactions that he sends while he's in control
    Prevent some or all transactions from gaining any confirmations
    Prevent some or all other generators from getting any generations

The attacker can't:

    Reverse other people's transactions
    Prevent transactions from being sent at all (they'll show as 0/unconfirmed)
    Change the number of coins generated per block
    Create coins out of thin air
    Send coins that never belonged to him

Sigh. Yes:

A man with a gun can poke holes in other people.

He cannot print dollar bills with it.  

However, ...

[criptix]

yes jorge take it to the technical discussion section you coward.

Oh, I already did, here in bitcointalk and on reddit.  The replies were the same: "the majority miners will not do that because it would render the coin valueless" and "if they do that, the faithful would move to an ASIC-incompatible clone".

Sorry, but the first claim is terribly naive wishful thinking (just look at how cartels act in other markets, e.g. international banks), and the second "defense" would be just a ridiculous form of economic suicide by a small set of irreducible ideologues.

it works because banks are backed up by the government.
if they do heavy criminal acts which would give the normal person a life sentence they just have to pay some billions (and maybe some people will be sacrificed too), but in the end they earned 10-100 times the amount.

Always make money.

i think this time i dont really need to cite sources LOL