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

[luckygenough56]

so different this time is

[inca]

Where are the bears and that dumb fuck nlc?

[adamstgBit]

Where are the bears and that dumb fuck nlc?

busy doubling their shorts from 230

[qwk]

i was referring to breaking above 237 which would inevitably lead to 32,000$ bitcoins. so i guess your right....

That's right, in adamstgBithmetics, 32,000 is the number right after 237.

AdamstgBithmetics failed.

[LFC_Bitcoin]

Where are the bears and that dumb fuck nlc?

Probably waiting for a 1 USD price drop & then they'll all be circling this thread like flies around shit.
Probably telling us bitcoin is dead, promising doom & sub 200 USD couns, some of the really retarded ones will be predicting double digit coins
Another day in the Wall Observer at bitcointalk.org. It is rather nice though isn't it when they're not here
Hopefully the price keeps creeping up & we won't have to listen to them for another day or two.

[macsga]

It's meme and pictures season around here again. Nice to see a change of attitude. Now we just have to go parabolic and I will return to my old-habits (ie: posting CCMF pics, trains, etc)

[Elwar]

Welcome to the price of 30 days ago.

Next stop:

6 months ago

[qwk]

Welcome to the price of 30 days ago.

Next stop:

6 months ago

Second next: 1.5 years ago. CCMF!

[inca]

It remains business as usual with accumulation weekly until the log downtrend line is broken for me.

[ChartBuddy]

Coin
Explanation

[LFC_Bitcoin]

It remains business as usual with accumulation weekly until the log downtrend line is broken for me.

At what price will you stop buying inca? I've been buying regularly for over a year now, built up a pretty decent stash (cold storage), I think I will probably stop buying at about 600 USD. I'm quite happy with what I've accumulated so far any way at this point so even if I was stopped from buying any more right now I'd be content.
We HODL & we wait for the moon landing

[inca]

It remains business as usual with accumulation weekly until the log downtrend line is broken for me.

At what price will you stop buying inca? I've been buying regularly for over a year now, built up a pretty decent stash (cold storage), I think I will probably stop buying at about 600 USD. I'm quite happy with what I've accumulated so far any way at this point so even if I was stopped from buying any more right now I'd be content.
We HODL & we wait for the moon landing

When we cross the magic line we can discuss it

[ChartBuddy]

Coin
Explanation

[cyclotronmajesty]

OK so I just witnessed sell orders go to 237.3 and take 50 BTC out of a huge sell order.  But someone decided to deceive people and sold little bits down to 236.5. That made people think the price was now lower, because the guy sold for a lower price than was real. This happened 2 or 3 times just now. And it made the bull run pause every time. Finally looks like the bulls took the bait and now we sit below 237. But it's a fake price. Bears are just selling their bits for lower prices to make it look like the price is going down on the ticker. So the people looking at the ticker are fooled.

There is a bit of a wall at 237.3 - 237.5

Can the bulls do the same trick? Buy at a bit higher than the ticker price? To make people think the price is going up?

[rebuilder]

Is that staggered bid wall formation on Bitfinex relatively new or did I just not notice it before?

[cyclotronmajesty]

Is that staggered bid wall formation on Bitfinex relatively new or did I just not notice it before?

Looks new to me. Wonder what that is about... I think there are tricksters on both sides working to keep the price down. But I'm not sure how that staggered buy wall helps them.

[ChartBuddy]

Coin
Explanation

[Sitarow]

BTC Closing Down
BTC Guild is Closing Down
BTC Guild will be shutting down its mining servers on June 30th, 2015 at 23:59 UTC. Users will still be able to log in and retrieve their history (CSV exports on the settings page) and request withdrawals until September 30, 2015..



Why is BTC Guild Shutting Down?
This is the second time BTC Guild has announced closure, but this time the decision will not be reversed. The reasons have not changed much since the original announcement.

As mining has become more centralized, BTC Guild has continuously shrunk in proportion to the network, now being less than 3% of the network hash rate. The costs of running the pool have not changed, and the amount of funds at risk in the event of a compromise is significantly higher than what the pool could ever recover from. When the pool was 20-30% of the network, the amount of funds at risk was slightly higher, but the ability for the pool to recover from that loss was present. At 3% of the network, the pool would not be able to recover from such a loss..

Additionally, the NYDFS BitLicense regulations have now become finalized, and the final regulations have enough gray area that BTC Guild is at risk. The fact that BTC Guild is not in New York does not matter, since it would be doing business with New York residents while they are physically in New York. This fact makes it possible for New York to attempt to claim jurisdiction to enforce regulations. Whether or not BTC Guild could win in defense of such an attempt is irrelevant, since the cost of defending the pool would be greater than any income the pool is expected to generate going forward.

Finally, I have been growing concerned for some time now about attempts to defraud pools. The pool's luck has been on a decline for over a year. The luck on a few other pools has also shown a negative trend. While it is not impossible that it's a coincidence, this is something I have been constantly made aware of and am helpless against. There is no way to know whether it's just bad luck, a small bug in older miners (BTC Guild probably has the highest percentage of first/second generation ASICs) resulting in a few % of block-solving shares to disappear, or a large pool trying to hurt the competition (many of the largest pools have large private mining operations now). It would only take a fraction (1 PH/s or less could do it) to cause significant harm to a competing pool, and that activity could be masked by proxies and multiple accounts to be impossible to catch.



PPLNS Blocks and Final Withdrawals
Users will be able to keep mining up until the servers turn off at end of day June 30th. Since PPLNS is a backwards paying system, the very last shares submitted are unlikely to receive any blocks unless a block is found at the last second.

The PPLNS shift length will be steadily reduced starting June 16th. This means that more shifts will likely end with 0 blocks, but shifts that find blocks will receive a larger amount than they would have previously. It is not recommended that users wait until the last minute to change pools.

The minimum withdrawal for a manual withdrawal will be reduced to 0.0001, and will not require a transaction fee to be paid in order to request the withdrawal.



Not For Sale
In the previous closure announcement, one reason it was cancelled was due to offers to purchase/take over the pool. This never happened because of personal attachment to the project and concern over user privacy and security.

The risk of users being cheated or stolen from as a result of transferring pool ownership is not something I am willing to accept. This is part of the reason the pool is closing in the first place: Risk of users losing funds because the pool would not be able to cover losses in the event of compromise.

I will not be entertaining offers on purchasing the pool this time around. There is no (reasonable) price the pool would be sold for.



Recommended Pools
The following pools are personally recommended for users to consider moving to:
BitMinter - long standing pool with good reputation
Eligius - long standing pool with good reputation
Kano CK Pool - cgminer developers
P2Pool (decentralized pool)



Thank you to all the users and the Bitcoin community for making BTC Guild a success for the last four years. It has been hard to finally make this call a second time with the determination to not reverse the decision. You will still be able to find me around the Bitcoin Talk forums (outside of the Pools subsection for once), and on IRC in #btcguild (and probably #bitcoin once the pool winds down).

To bad to bad them is the reality at this time. Pool helped move BTC into ASIC territory with the advent of stratum integration testing.

[Fatman3001]

I've gone to ride out my banishment one last time again. I would like to come back and see some serious progress to the moon of some planet already tho please!

Trying to be funny outside of the WO-thread can snap your neck mighty fast.

[Fatman3001]

BTC Closing Down
BTC Guild is Closing Down
BTC Guild will be shutting down its mining servers on June 30th, 2015 at 23:59 UTC. Users will still be able to log in and retrieve their history (CSV exports on the settings page) and request withdrawals until September 30, 2015..



Why is BTC Guild Shutting Down?
This is the second time BTC Guild has announced closure, but this time the decision will not be reversed. The reasons have not changed much since the original announcement.

As mining has become more centralized, BTC Guild has continuously shrunk in proportion to the network, now being less than 3% of the network hash rate. The costs of running the pool have not changed, and the amount of funds at risk in the event of a compromise is significantly higher than what the pool could ever recover from. When the pool was 20-30% of the network, the amount of funds at risk was slightly higher, but the ability for the pool to recover from that loss was present. At 3% of the network, the pool would not be able to recover from such a loss..

Additionally, the NYDFS BitLicense regulations have now become finalized, and the final regulations have enough gray area that BTC Guild is at risk. The fact that BTC Guild is not in New York does not matter, since it would be doing business with New York residents while they are physically in New York. This fact makes it possible for New York to attempt to claim jurisdiction to enforce regulations. Whether or not BTC Guild could win in defense of such an attempt is irrelevant, since the cost of defending the pool would be greater than any income the pool is expected to generate going forward.

Finally, I have been growing concerned for some time now about attempts to defraud pools. The pool's luck has been on a decline for over a year. The luck on a few other pools has also shown a negative trend. While it is not impossible that it's a coincidence, this is something I have been constantly made aware of and am helpless against. There is no way to know whether it's just bad luck, a small bug in older miners (BTC Guild probably has the highest percentage of first/second generation ASICs) resulting in a few % of block-solving shares to disappear, or a large pool trying to hurt the competition (many of the largest pools have large private mining operations now). It would only take a fraction (1 PH/s or less could do it) to cause significant harm to a competing pool, and that activity could be masked by proxies and multiple accounts to be impossible to catch.



PPLNS Blocks and Final Withdrawals
Users will be able to keep mining up until the servers turn off at end of day June 30th. Since PPLNS is a backwards paying system, the very last shares submitted are unlikely to receive any blocks unless a block is found at the last second.

The PPLNS shift length will be steadily reduced starting June 16th. This means that more shifts will likely end with 0 blocks, but shifts that find blocks will receive a larger amount than they would have previously. It is not recommended that users wait until the last minute to change pools.

The minimum withdrawal for a manual withdrawal will be reduced to 0.0001, and will not require a transaction fee to be paid in order to request the withdrawal.



Not For Sale
In the previous closure announcement, one reason it was cancelled was due to offers to purchase/take over the pool. This never happened because of personal attachment to the project and concern over user privacy and security.

The risk of users being cheated or stolen from as a result of transferring pool ownership is not something I am willing to accept. This is part of the reason the pool is closing in the first place: Risk of users losing funds because the pool would not be able to cover losses in the event of compromise.

I will not be entertaining offers on purchasing the pool this time around. There is no (reasonable) price the pool would be sold for.



Recommended Pools
The following pools are personally recommended for users to consider moving to:
BitMinter - long standing pool with good reputation
Eligius - long standing pool with good reputation
Kano CK Pool - cgminer developers
P2Pool (decentralized pool)



Thank you to all the users and the Bitcoin community for making BTC Guild a success for the last four years. It has been hard to finally make this call a second time with the determination to not reverse the decision. You will still be able to find me around the Bitcoin Talk forums (outside of the Pools subsection for once), and on IRC in #btcguild (and probably #bitcoin once the pool winds down).

To bad to bad them is the reality at this time. Pool helped move BTC into ASIC territory with the advent of stratum integration testing.

Ahhh,.. fudge!

Now I have to change the backup pool for all my miners. There goes the weekend.