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

[ChartBuddy]

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Explanation

[ChartBuddy]

Coin
Explanation

[Cconvert2G36]

Professor Stolfi,

Is this the Bitcoin Rain scam people, or another Brazilian bitcoin rain??

https://www.youtube.com/watch?v=5LIX1ot9peI

Is this really an IBM thing? Seems too amateurish? Cloud buzzword overload. Strange comments from illuminatiman.

Generally, what the hell is this

[oxiyusuf]

would be very nice if today there is a dumper ..
 so I can buy BTC again at a cheaper price 

[BayAreaCoins]

Finex was hacked.
Small breach they say.

Again?

[ChartBuddy]

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Explanation

[Fiat_Hodler]

Finex was hacked.
Small breach they say.

Again?

no. on may 22nd

[ChartBuddy]

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Explanation

[Cconvert2G36]

How do you think PoS wouldn't be better for the network?  Do you think the average third world person deserves a chance to help secure the network?

Proof of stake serves only to enrich the stakers.

You fail it

Disagree.

Proof of stake enriches the people who are actually taking the risk of holding the coin.

Proof of work enriches the electric companies and hardware people.  It completely fucks all the average Joes six ways from Sunday.  PoW toxic and leaks $ like a sieve.

If you want to build Bitcoin to were you can have something to leave for your grandchildren I'm almost 100% sure at this point PoW isn't that thing.

What if people that held the most USD, got the majority of the newly printed USD? Sounds pretty bad for avg Joe.

With PoW, miners are economically "forced" to sell newly mined coins to the market in order to continue operations and pay power bills. If the amount they can earn is less than they spend... they adjust capacity to reach equilibrium. Sounds about right.

[ChartBuddy]

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Explanation

[JorgeStolfi]

Professor Stolfi,

Is this the Bitcoin Rain scam people, or another Brazilian bitcoin rain??

https://www.youtube.com/watch?v=5LIX1ot9peI

Is this really an IBM thing? Seems too amateurish? Cloud buzzword overload. Strange comments from illuminatiman.

Generally, what the hell is this

No it is not the same thing.  IBM made a marketing gaffe using that name, but few people knew of the former Bitcoin Rain. (By chance I was in that Campus Party event, for a panel on copyright stuff, and saw the preparations for that stunt.  But I had to leave before it actually happened.  It was there that I saw the first and so far only bitcoiner in person: a young fellow with a "bitcoin" T-shirt.  I carefully stayed out of his way.  )

The Bitcoin Rain I was refering to was a bitcoin "investment fund" run by the same person who created the MercadoBitcoin exchange, back in 2011 or 2012.  It promised 10% profit *per month*, and collected several thousand BTC from Brazilian investors.  Of course it was a ponzi.  When one client requested to withdraw his ~1000 BTC, MercadoBitcoin (where the coins were kept) was promptly hacked and "sorry for your loss folks".

As in most other bitcoin scams, the victims could not do anything concrete.  The creator then sold MercadoBitcoin, and the new owners obviously claimed that they were not responsible for Bitcoin Rain.  I only learned of that after I started following bitcoin, in late 2013 or early 2014.

EDIT:

original announcement of the Bitcoin Rain ponzi on this forum:
https://bitcointalk.org/index.php?topic=46750.0

A victim's tale (in Portuguese)
http://defendaseudinheiro.com.br/a-verdadeira-historia-do-mercadobitcoin

Nespaper article (in Portuguese):
http://www1.folha.uol.com.br/tec/2013/05/1276947-bitcoin-da-prejuizo-e-lucro-reais-a-usuarios.shtml

[ChartBuddy]

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Explanation

[JayJuanGee]

poeple are going ape shit, this can only mean one thing, the next 24 hours are critical

I think that I will HODL... or maybe I will buy a little?   

[ChartBuddy]

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Explanation

[Wandererfromthenorth]

https://twitter.com/SwiftOnSecurity/status/600526642453286912


It's funny because it's true.

[fonzie]

poeple are going ape shit, this can only mean one thing, the next 24 hours are critical

I think that I will HODL... or maybe I will buy a little?    

Here is my free & well-intented advice: Sell before it´s too late JJG!
GAME OVER  man ;
I hope you learned your lessons in the past and listen this time!
ENDTIME for BTC; more than ever before!

[empowering]

 

[macsga]

lol
https://twitter.com/SwiftOnSecurity/status/600526642453286912
It's funny because it's true.

Aside from your stance on the matter (ie: being a bear concerning BTC) or if you think it's sane to express such an opinion (ie: define post-apocalyptic - how apocalyptic in a scale from 1-10?) I'd say that this statement is rather bold. For instance: Has anyone got the ability to foresee the future after an economic meltdown? Would the internet matter? Will it be there at all? Will people be here in the first place? Will they need guns to enforce their peace?

I'd say that there are quite too many things to worry about after such an event will happen, to just worry about if you can buy food via a usb stick or using USD/EUR. About 90% of the people out there do not understand that food doesn't grow on refrigerators located in Wallmart, nor they are in position (or do have the knowledge) to perform basic agricultural jobs. Moreover, certain laws have already prevented individuals to even keep a goat or chicken within his/her house without permission. Not to mention collecting rain water could drive you to prison if you live in the US. (http://www.naturalnews.com/029286_rainwater_collection_water.html)

Post apocalyptic? You realize that there's a strong possibility this is happening right now, right?

[Fatman3001]

https://twitter.com/SwiftOnSecurity/status/600526642453286912


It's funny because it's true.

And the first comment: "you'll need guns"

[only]

year 2015 is critical