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

[JorgeStolfi]

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

Sorry, I don't know anything about them...

[empowering]

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...

Fantasy


...... Are you feeling ok doc?

[Torque]

Damn, what a frustrating price level.  The market sure does love that ~230-ish.

I have one final round of funds to invest long, but can't deal with any more severe down.  I went all in at 230 in January (yes, January!), but recently got back out at 238. 

Want to get back in long, fire and forget, but damn which way are we swinging here?  I'd be more comfortable if we had a confirmed solid support above 200, but don't know if and when we would ever re-test that.

[ChartBuddy]

Coin
Explanation

[JorgeStolfi]

Fantasy  ...... Are you feeling ok doc?

I believe that we should always think about the worst that could happen and try to be prepared for it.

http://bizarro.com/wp-content/uploads/sites/172/2013/09/bz-panel-09-30-13.jpg

[xyzzy099]

Fantasy  ...... Are you feeling ok doc?

I believe that we should always think about the worst that could happen and try to be prepared for it.

http://bizarro.com/wp-content/uploads/sites/172/2013/09/bz-panel-09-30-13.jpg

If I understand your philosophy re: Bitcoin, there is only 'the worst':  Either Bitcoin will fail on its own defects, or some government(s) will destroy it, if it works as designed.  Is that a fair summation of your position?

[derpinheimer]

What's up with the $14 million cny bidwall on huobi?
http://coinsight.org/huobi

[BillyBobZorton]

Damn, what a frustrating price level.  The market sure does love that ~230-ish.

I have one final round of funds to invest long, but can't deal with any more severe down.  I went all in at 230 in January (yes, January!), but recently got back out at 238.  

Want to get back in long, fire and forget, but damn which way are we swinging here?  I'd be more comfortable if we had a confirmed solid support above 200, but don't know if and when we would ever re-test that.

Have you considered that Bitcoin may, in fact, be maturing and becoming more like money? This implies stability. With bitcoin's hallmark volatility gone & progressively tightening government regulation wiping out 'legal gray areas' for us to exploit, bitcoin ceases to be an attractive, semi-legal and, arguably, less stigmatic form of online gambling/money laundering vehicle - the very things which made it so attractive initially.

With Dark Markets proving more and more vulnerable and bitcoin's floundering price (causal relationship here, though seemingly apparent, is far from rigorously proven), the crypto community is becoming more fractured and toxic.


TL;DR: Mom's not coming home 'till late, so...
 ~Lo <3

One of the biggest contributors in making crypto a stupid meme complains that the climate is toxic.. lol. Good, that is a good sign that all these dumb alt developers are giving up and soon natural selection will make BTC reign supreme.

[ChartBuddy]

Coin
Explanation

[gentlemand]

One of the biggest contributors in making crypto a stupid meme complains that the climate is toxic.. lol. Good, that is a good sign that all these dumb alt developers are giving up and soon natural selection will make BTC reign supreme.

Well, he's right. It won't go anywhere with the current crop. But it wouldn't go anywhere even if everyone was totally lovely. There needs to be a tidal wave of fresh blood whatever their personality type may be. 

[luckygenough56]

oh look bitcoin is now a stable currency

*exiting crypto cause of boredom*

 

[damiano]

Damn, what a frustrating price level.  The market sure does love that ~230-ish.

I have one final round of funds to invest long, but can't deal with any more severe down.  I went all in at 230 in January (yes, January!), but recently got back out at 238.  

Want to get back in long, fire and forget, but damn which way are we swinging here?  I'd be more comfortable if we had a confirmed solid support above 200, but don't know if and when we would ever re-test that.

Have you considered that Bitcoin may, in fact, be maturing and becoming more like money? This implies stability. With bitcoin's hallmark volatility gone & progressively tightening government regulation wiping out 'legal gray areas' for us to exploit, bitcoin ceases to be an attractive, semi-legal and, arguably, less stigmatic form of online gambling/money laundering vehicle - the very things which made it so attractive initially.

With Dark Markets proving more and more vulnerable and bitcoin's floundering price (causal relationship here, though seemingly apparent, is far from rigorously proven), the crypto community is becoming more fractured and toxic.


TL;DR: Mom's not coming home 'till late, so...
 ~Lo <3

One of the biggest contributors in making crypto a stupid meme complains that the climate is toxic.. lol. Good, that is a good sign that all these dumb alt developers are giving up and soon natural selection will make BTC reign supreme.

Majority of the top 25 here are a joke (http://coinmarketcap.com/)

Don't forget as well we have Ethereum coming.

[79b79aa8d5047da6d3XX]

^ or not.

[dakota neat]

^ or not.

lol ether will perform the most epic crash crypto world has ever seen as soon as trading starts (if ever)

[tomothy]

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 think you may have overlooked the fact that blacklisting of coins and addresses already exists in the bitcoin space. It is well known that entry/exit points between bitcoin and fiat exist and that these gatekeepers monitor transactions. It is also know that certain bitcoin addresses have been identified and continue to be monitored. This is evident both in the knowledge of exchange addresses, along with gambling wallet addresses (think justdice), and various darknet markets ( think Agora/SR1/2/etc). We have seen that responsive entities have the ability to successfully track and seize coins and in some instances the community itself has agreed or attempted to block or not propagate bad transactions. But this leads to part of the reason why bitcoin could ultimately succeed. Although it may gut the traditional bread and butter business of various financial and legal business entities, it provides a way to limit money laundering and tax evasion.

Bitcoin is in fact a double edged sword specifically due to the open nature of the public ledger. So long as you have sufficiently secured the entry/exit points, you will have strong currency control. This is what will make it successful and a great benefit to monitoring transactions and preserving public opinion but also has resulted in it being co-opted for an alternative usage. Bitcoin is not a libertarian's answer but the government's answer to cash.

http://www.bloomberg.com/news/articles/2015-04-10/citi-economist-says-it-might-be-time-to-abolish-cash

With Bitcoin you have the ability to track and monitor what every address does with coins. This is an auditor's pie dream. Look at the ease by which the two investigator's were taken down as part of the SilkRoad operation. There was a public trail of everything they did, no matter how hard they tried to cover their tracks. They created LLC's to attempt to wash money and clean their trail but ultimately; bitcoin leaves the bitcoin network and it is at those choke points you are most vulnerable. As it is punishable as an individual to convert bitcoin to cash on behalf of another and many entry/exit points into fiat have begun requesting documentation of mining operations, the future is quite clear; it just hasn't been implemented yet (bitlicense). Welcome to bitcoin 2.0; you trade success and wealth for 24/7 surveillance. I think ultimately even if you don't want it to succeed, it will.

If bitcoin truly offered anonymity, don't you think we would be seeing a little more pushback? I think a better question is to ask why aren't we?

[aminorex]

And for that reason, opponents of totalitarianism are switching to cryptonote's dark ledger.

Anyhow, monkey sees 2-3 hours of downside intraday, followed by another attack on resistance at 237 on the daily chart, which seems likely to succeed this time; but, 296 is almost certain to hold, if it is even achievable before the run down to 180 which monkey expects on the weekly chart.

[ChartBuddy]

Coin
Explanation

[Torque]

And for that reason, opponents of totalitarianism are switching to cryptonote's dark ledger.

Anyhow, monkey sees 2-3 hours of downside intraday, followed by another attack on resistance at 237 on the daily chart, which seems likely to succeed this time; but, 296 is almost certain to hold, if it is even achievable before the run down to 180 which monkey expects on the weekly chart.

None of what you wrote makes any sense.

[Paashaas]

Bitcoin back to $220?

[Sitarow]