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

[leetcoiner]

THEY HACK THE BLOCKCHAIN but u don't know that yet... see the transactions

[heartastack]

Apart from guessing can anyone give a nearly Valid reason , why bitcoin price is decreasing much steeply today , whats the fate of Bitcoin , what do you feel ,it will Touch Minimum?

Do you ask taxi drivers and Bum's the meaning of life?

[schizoid]

you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..

Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.

[mmitech]

Well, I said this few years ago, Bitcoin is not BitTorrent, bitcoin is a financial instrument and will be heavily regulated, you can try to fight it now, but you like or not, these things will eventually happen...

Bitcoin is not a financial instrument. Bitcoin is money. Gold is money too, not a financial instrument. Good luck regulating gold... and bitcoin.

Some people tend to forget:
"Bitcoin: A Peer-to-Peer Electronic Cash System" Satoshi Nakamoto

Cash is NOT a financial instrument! And never will be... hopefully!

Well, to be honest, like you, I have dreams of privacy, but I also have dreams of security and peace, and if I have to compromise, I will gladly compromise some of my privacy rights for the sake of a secure and peaceful world (maybe the fact of having kids changed the way I think), and we both know what Bitcoin can be, don't just think about what you see in Bitcoin, think also about what others sees in Bitcoin, many people will find it an excellent way to launder money, finance terrorism and criminal activities, and the best way to pay for illegal products such as child porn and weapons... I guess you see the big picture here.

I know that many people here are libertarians, and I know that they will really hate me for saying this, but I don't wish to live in a world where crime is considered the price or the cost of financial freedom, why not have both security and financial freedom at once?

[Fatman3001]

you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..

Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.

Yeah, well. That's shitcoin-mechanics. That might not work with BTC.

[mmitech]

many don't understand that the new code in XT will be active only if 75% of the network actually runs it  

And many don't understand that the 75% is not of the network but of the mining pools. And this can be easily manipulated!

Anyway, XT altcoin fork is dead now. Block size debate was just a cover up now revealing hidden agenda to introduce among bitcoin users the XT client that is simply an IP logger and blacklist aggregator!

Well, I said this few years ago, Bitcoin is not BitTorrent, bitcoin is a financial instrument and will be heavily regulated, you can try to fight it now, but whether you like it or not, these things will eventually happen... or Bitcoin transactions will be deemed illegal and businesses will be forbidden from using it, and there the mass adoption dream vanishes in front of your eyes.

just another clueless shill for tyranny.

There is a state where there is no real government but people forcing their ideologies upon each other, it is called Islamic State in Iraq and Syria... I would like to see you moving there, and don't forget to send us some feedback about life without a civil government and constitution.  


Edit: It is the pure wild-west you wish for there, I don't like to see innocent's people heads chopped off on Liveleak in Syria, but I don't mind watching a head of a terrorist going off... and terrorism really vary, the hipster rebels that want to shutdown order and government for their own financial benefits on the cost of masses are considered just as bad as terrorists IMO.

[Fatman3001]

1BTC = 2BTC soon

After this crash XT fork is basically dead. I doubt Core devs will even discuss whatever block size increase now.

You should listen to Phill Potter on the whaleclub soundcloud. Crash was due to usual bitcoin leveraged hopium.

Please, do keep up.

Sort of looks cyclical. We had a similar crash at pretty much the exact same time last year.

[dreamspark]

In the end the client will be decided by the exchanges not the miners.

What miner is going to mine a coin that then can't be sold on an exchange?

you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead... don't forget, miners are the sole of the network, Bitcoin rely on POW, so having X% of the mining power means controlling X% of the voting power in Bitcoin's network

Well its not quite that simple. Whats the point in having an alive chain and nowhere to sell them if exchanges stubbornly refuse to switch.

Its very chicken and egg.


Anyway I doubt it will ever get that far. Agreements will be made long before the network actually splits.

Dont forget an exchange actually owns 13.5% of the mining power as it is with btchina.

[sAt0sHiFanClub]

you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..

Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.

That might be an issue for a small network, where one player may have the power to do so, but as Phil Potter from Bitfinex said, "we will see what our competitors are doing, if there is a consensus, we will follow it'

tl;dr  This is not about taking sides, its about following the money.

[Master mind]

800000 BTC instamine is worth 1 Satoshi

[Torque]

1BTC = 2BTC soon

After this crash XT fork is basically dead. I doubt Core devs will even discuss whatever block size increase now.

You should listen to Phill Potter on the whaleclub soundcloud. Crash was due to usual bitcoin leveraged hopium.

Please, do keep up.

Yeah, these last few weeks if I heard one more hipster trader wannabe claiming that "we're in the handle of the cup-and-handle pattern! To da moonz!!!" I thought I was going to barf.  The Average Joe couldn't long or short trade their way out of a paper bag.  And whales can paint the tape to appear however they want.

The market seldom does what you think it will, and quite often does the opposite.  In fact, the whales know this and prey on it, by constantly leveraging fake news, emotional sentiment, and the greatest levels of confirmation bias.  They'll also attack HUGE leveraged long or short positions whenever they see them build up, just for the lulz and to make money.

[dreamspark]

you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..

Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.

That might be an issue for a small network, where one player may have the power to do so, but as Phil Potter from Bitfinex said, "we will see what our competitors are doing, if there is a consensus, we will follow it'

And that's why imo the fork won't happen. The majority of players like Finex don't mind either way *that* much. They just want to stay in business. Therefore there will be a lot of looking around and waiting for other people to make the move which is why it wont happen. As Gregory Maxwell has said, consensus is very hard to get in btc and there's good reason for it. It should be hard to make big changes to Bitcoin and the very large majority should be in favor of it to do so.

[becoin]

I know that many people here are libertarians, and I know that they will really hate me for saying this, but I don't wish to live in a world where crime is considered the price or the cost of financial freedom, why not have both security and financial freedom at once?

Bitcoin gives you both security and financial freedom at once. Still most of the crime in this world is paid in US dollars. Not happy until 100% of the crime is paid in US dollars? You feel safer with US dollars paid crime?

Nobody is going to hate you for what you're saying. What is the point of hating a slave? You are harmless.

[Fatman3001]

800000 BTC instamine is worth 1 Satoshi

SATOSHI WILL DUMP 800.000 before people will notice that blockchain is hacked

WTF! This isn't a newb account, wth did you come from? Are you lambies daft cousine or something?

[Morecoin Freeman]

Strong buy now imo. Anyone agree?

[schizoid]

you got that wrong my friend, if the miners switch to the new client, exchanges wont have any other choice but to follow, because the old chain will be dead..

Not really, because new miners can jump in and resurrect the old chain. There was a recent case of an altcoin, I don't remember which one, which tried to hard fork but couldn't because the one exchange it traded on stubbornly refused to go along.

That might be an issue for a small network, where one player may have the power to do so, but as Phil Potter from Bitfinex said, "we will see what our competitors are doing, if there is a consensus, we will follow it'

tl;dr  This is not about taking sides, its about following the money.

It doesn't matter if it's one player or a consensus of players; the result is the same. If there is consensus among exchanges to stay on Core, then Core will win, no matter what miners do.

XT'ers shouldn't be lobbying miners directly. They should first lobby the node operators, then the exchanges and payment processors. If they win those two battles the miners will follow.

[Fatman3001]

Strong buy now imo. Anyone agree?

What happened was due to swaps. Did you watch the other exchanges? They followed to a certain point, but there was no selling pressure below $220 even when the sky was falling. These are cheap coins.

[DonQuijote]

WTF
Who is selling btc???

[leetcoiner]

800000 BTC instamine is worth 1 Satoshi

SATOSHI WILL DUMP 800.000 before people will notice that blockchain is hacked

WTF! This isn't a newb account, wth did you come from? Are you lambies daft cousine or something?

YES MAN

I'M A THIRD BROTHER OF WINKLEVOSS BROTHER

i'm STARTING DUMPING MY BAG OF BTC'S

BUY ME ALL TO 100$

[JorgeStolfi]

The biggest cripplecoiners, i.e. the core devs, have done more work then anybody on allowing bitcoin to scale.

No, they have worked hard to make bitcoin unusable for ordinary payments, and to drive all bitcoiners to some lousy centralized banking system, that no bitcoiner would want to use if he had the choice.