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

[Ezmoneyezlife]

Kaboom - no more fake buy orders on goxobi, what a surprise. Sub 200$ we go, then a reversal, not before m8s.

[Ezmoneyezlife]

Kaboom - no more fake buy orders on goxobi, what a surprise. Sub 200$ we go, then a reversal, not before m8s.

Hahahahahah, classic chinese shit on their shitty exchanges, rofl!



Upd: 10k now, MOAR fake digits goxobi, we WANT MOAR!!

Upd2: and its gone, what a surprise....

[JorgeStolfi]

If I was Satoshi I would have unloaded all my shit @ 1000 USD.
Then I'd be Dan Bilzerian'ing it until my last day on earth.

If bitcoin collapses to 0 $/BTC, there will be thousands of furious bagholders screaming 'ponzi' and looking for someone to sue. Most early adopters who cashed out in time may be able to claim that they only believed the spiel and were just lucky.  The unlucky ones, and law enforcement, will go after the man who conceived and implemented the scam.  If he were to pocket hundreds of millions... Guess where that money would have come out of.  

[ChartBuddy]

Coin
Explanation

[gotmilk_]

https://www.cryptocoinsnews.com/coinhako-bitgo-offering-first-insured-asian-bitcoin-exchange/

[ChartBuddy]

Coin
Explanation

[empowering]

If I was Satoshi I would have unloaded all my shit @ 1000 USD.
Then I'd be Dan Bilzerian'ing it until my last day on earth.

If bitcoin collapses to 0 $/BTC, there will be thousands of furious bagholders screaming 'ponzi' and looking for someone to sue. Most early adopters who cashed out in time may be able to claim that they only believed the spiel and were just lucky.  The unlucky ones, and law enforcement, will go after the man who conceived and implemented the scam.  If he were to pocket hundreds of millions... Guess where that money would have come out of.  

Fantasy....

[Fatman3001]

If I was Satoshi I would have unloaded all my shit @ 1000 USD.
Then I'd be Dan Bilzerian'ing it until my last day on earth.

If bitcoin collapses to 0 $/BTC, there will be thousands of furious bagholders screaming 'ponzi' and looking for someone to sue. Most early adopters who cashed out in time may be able to claim that they only believed the spiel and were just lucky.  The unlucky ones, and law enforcement, will go after the man who conceived and implemented the scam.  If he were to pocket hundreds of millions... Guess where that money would have come out of.  

Fantasy....

Economics, Law... Maybe H.H.Dr.Prof should stick to fixing typewriters at Gangsta U.

[marcus_of_augustus]

If I was Satoshi I would have unloaded all my shit @ 1000 USD.
Then I'd be Dan Bilzerian'ing it until my last day on earth.

If bitcoin collapses to 0 $/BTC, there will be thousands of furious bagholders screaming 'ponzi' and looking for someone to sue. Most early adopters who cashed out in time may be able to claim that they only believed the spiel and were just lucky.  The unlucky ones, and law enforcement, will go after the man who conceived and implemented the scam.  If he were to pocket hundreds of millions... Guess where that money would have come out of.  

careful stofli, you're building up a lot of vested academic interest in wishing for the bitcoin collapse now.

What if it succeeds? You risk spending the rest of your days trying cheer down a truly humanity changing technology and looking like a bitter and twisted naysayer. The higher you nail your colours to the mast, the further your accidental fall from grace my friend. The risk-free trade is on the other side for your profession.

[TakeTheSkyRoad]

If I was Satoshi I would have unloaded all my shit @ 1000 USD.
Then I'd be Dan Bilzerian'ing it until my last day on earth.

If bitcoin collapses to 0 $/BTC, there will be thousands of furious bagholders screaming 'ponzi' and looking for someone to sue. Most early adopters who cashed out in time may be able to claim that they only believed the spiel and were just lucky.  The unlucky ones, and law enforcement, will go after the man who conceived and implemented the scam.  If he were to pocket hundreds of millions... Guess where that money would have come out of.  

The smartest thing Satoshi did (ahead of bitcoin) was to stay anonymous and to disappear as soon as wider adoption started.  I hope for his/her/their sake that they keep their anonymity and stay off the grid as it were.

That's not for the risk of what happens if this goes wrong but the far greater risk of what happens if this continues to take off. In future Satoshi and the bitcoin in *his* accounts could take on some sort of mythical status akin to El Dorado, the Aztec city of gold.  The difference being that the gold of El Dorado likely doesn't exist any more but Satoshi's clearly does though it is likely inaccessible since *he* probably doesn't have the private keys saved.  Plenty of people will still try to find him to claim the keys & the loot though regardless of the low chance of success.

Already plenty of people are going to be looking for this guy, bad actors (kidnap & random), government agencies (NSA), big corporations (Mastercard) and with the keys to those early addresses someone could get rich quick and/or take down all faith in the value.  The technology would survive but bitcoin the currency wouldn't.

I would expect that it won't be long for someone to suggest a core change which blocks or otherwise restricts transactions against those early addresses.  This would dispel the spectre of the early days and then maybe Satoshi can step out of the shadows and claim credit for his work without risking his life or that of his family/friends.

[uhoh]

If I was Satoshi I would have unloaded all my shit @ 1000 USD.
Then I'd be Dan Bilzerian'ing it until my last day on earth.

If bitcoin collapses to 0 $/BTC, there will be thousands of furious bagholders screaming 'ponzi' and looking for someone to sue. Most early adopters who cashed out in time may be able to claim that they only believed the spiel and were just lucky.  The unlucky ones, and law enforcement, will go after the man who conceived and implemented the scam.  If he were to pocket hundreds of millions... Guess where that money would have come out of.  

The smartest thing Satoshi did (ahead of bitcoin) was to stay anonymous and to disappear as soon as wider adoption started.  I hope for his/her/their sake that they keep their anonymity and stay off the grid as it were.

That's not for the risk of what happens if this goes wrong but the far greater risk of what happens if this continues to take off. In future Satoshi and the bitcoin in *his* accounts could take on some sort of mythical status akin to El Dorado, the Aztec city of gold.  The difference being that the gold of El Dorado likely doesn't exist any more but Satoshi's clearly does though it is likely inaccessible since *he* probably doesn't have the private keys saved.  Plenty of people will still try to find him to claim the keys & the loot though regardless of the low chance of success.

Already plenty of people are going to be looking for this guy, bad actors (kidnap & random), government agencies (NSA), big corporations (Mastercard) and with the keys to those early addresses someone could get rich quick and/or take down all faith in the value.  The technology would survive but bitcoin the currency wouldn't.

I would expect that it won't be long for someone to suggest a core change which blocks or otherwise restricts transactions against those early addresses.  This would dispel the spectre of the early days and then maybe Satoshi can step out of the shadows and claim credit for his work without risking his life or that of his family/friends.

Gox "lost" ~600,000 coins
Satoshi has ~1mil

Not even him dumping the whole lot could kill Bitcoin anymore. It's early enough in the game to kill the value but, on the flip-side, it takes away the last bit of uncertainty in the whole project. The fact is, as soon as those coins are moved he wouldn't be able to cash out anyway because the price would absolutely shit itself before even the first confirmation was in.

[ChartBuddy]

Coin
Explanation

[TakeTheSkyRoad]

Gox "lost" ~600,000 coins
Satoshi has ~1mil

Not even him dumping the whole lot could kill Bitcoin anymore. It's early enough in the game to kill the value but, on the flip-side, it takes away the last bit of uncertainty in the whole project. The fact is, as soon as those coins are moved he wouldn't be able to cash out anyway because the price would absolutely shit itself before even the first confirmation was in.

Very true.... we would have an early warning at least, if not the days destroyed then I bet there is at least a bot or two watching those addresses with a panic sell order ready.  Those coins should be in circulation really and the fact that they aren't is a worry but then life is full of uncertainty and at least we know and have the visibility.

As I said the tech is out now and isn't going away so if anyone really wants to take this seriously then spread your bets and buy into an alt currency or two.  Ultimately we should all make our own assessment, invest our time/money accordingly and take responsibility when maybe things don't work out as you hoped. I bought at > $1000 and if I have to hold till retirement to make a profit then so be it but my own assessment is that I'll be back in the black within the next year or three.

[satashito]

It will be reach $235-240 today i guess.

[JorgeStolfi]

I would expect that it won't be long for someone to suggest a core change which blocks or otherwise restricts transactions against those early addresses.  This would dispel the spectre of the early days and then maybe Satoshi can step out of the shadows and claim credit for his work without risking his life or that of his family/friends.

If bitcoin survives and grows, I think that it is quite likely that the protocol will be amended with a government-mandated "black list" of coins that cannot be moved, and a "white list" of transactions that must be accepted even without a valid signature. 

If bitcoin succeeds, it is even possible that the current blockchain will have to be junked, and a new blockchain be restarted with suitable legal constraints and devices.

In either case, the bitcoiners who understand the goals of bitcoin will surely scream and claim (with reason) that those violations of the basic principles render the coin worthless.  The other 99% will not even understand what the fuss is about, and will mostly ignore the changes, or even approve them...

[TakeTheSkyRoad]

I would expect that it won't be long for someone to suggest a core change which blocks or otherwise restricts transactions against those early addresses.  This would dispel the spectre of the early days and then maybe Satoshi can step out of the shadows and claim credit for his work without risking his life or that of his family/friends.

If bitcoin survives and grows, I think that it is quite likely that the protocol will be amended with a government-mandated "black list" of coins that cannot be moved, and a "white list" of transactions that must be accepted even without a valid signature. 

If bitcoin succeeds, it is even possible that the current blockchain will have to be junked, and a new blockchain be restarted with suitable legal constraints and devices.

In either case, the bitcoiners who understand the goals of bitcoin will surely scream and claim (with reason) that those violations of the basic principles render the coin worthless.  The other 99% will not even understand what the fuss is about, and will mostly ignore the changes, or even approve them...

I understand your point but this is a problem and there would be many hurdles to jump before it could happen.

A single government would not be able to enforce this so this would first require global, multi-national agreement.
Also at the moment the P2P network allows anyone to join from anywhere so this would need a core change to implement a black/white list.
Once the miners/transaction processors are globally regulated they would all need to agree to a transaction black/white list.
At this stage the global body could block transactions.

However I think this is highly unlikely since the global body would be VERY difficult to create.  We barely have a united nations and even then they don't agree most of the time and have little legal global clout. This would be a major roadblock stopping the global authority but lets pretend one is created.

Next they would have to get multi-national agreement for a regulated/limited list of miners/transaction processors.  Only companies would be allowed and they would have to register in order to be allowed in the P2P club.  Again this would be very difficult but lets pretend it can happen.

Finally the all the various multi-national companies on the P2P network would have to agree to block those fixed addresses on the black list.  The initial list would probably be easy to negotiate but new addresses would be a problem. Lets say company ABC has an account the US authorities want blocked and they get the global body to agree, adding their wallet address to the black list.  If say China disagree what's to stop them from not accepting that latest version of the black list ?  The transaction would be blocked in the US but a block processed in China would accept the transaction.
while technically possible I think such a system would be politically impractical.

Finally yes this could result in a hard-fork with a *government* block chain and a *public* block chain.  There would then be a political battle of sorts while government pushed companies (eg Bitpay) to accept their version of the blockchain truth vs the competing network.

If by a "new blockchain" you ultimately mean starting again from block 0 then this would be a new currency and I'd say good luck to them.  I think some of the main players are already looking to use the blockchain tech like this between themselves and I think there was a report saying the bank of England might issue a digital currency.  The bitcoin blockchain will still carry on regardless though.

[8up]

You guys still bind your thinking to the good old dollar. Satoshi made himself free of this thinking. There is no way Satoshi is even in the need of cashing out into fiat.

[ChartBuddy]

Coin
Explanation

[ejinte]

I would expect that it won't be long for someone to suggest a core change which blocks or otherwise restricts transactions against those early addresses.  This would dispel the spectre of the early days and then maybe Satoshi can step out of the shadows and claim credit for his work without risking his life or that of his family/friends.

If bitcoin survives and grows, I think that it is quite likely that the protocol will be amended with a government-mandated "black list" of coins that cannot be moved, and a "white list" of transactions that must be accepted even without a valid signature. 

If bitcoin succeeds, it is even possible that the current blockchain will have to be junked, and a new blockchain be restarted with suitable legal constraints and devices.

In either case, the bitcoiners who understand the goals of bitcoin will surely scream and claim (with reason) that those violations of the basic principles render the coin worthless.  The other 99% will not even understand what the fuss is about, and will mostly ignore the changes, or even approve them...

May I ask what the professor thinks about projects like maidsafe and ethereum?

[Fatman3001]

You guys still bind your thinking to the good old dollar. Satoshi made himself free of this thinking. There is no way Satoshi is even in the need of cashing out into fiat.

How do I get all these people sending me bills to free themselves from this thinking?