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

[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.

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.

Why would there be such a consensus? Is there someone out there offering free lobotomys for exchange CEOs? They can't afford to destroy the market they are working in. Nor is the guts and bones of XT sufficiently controversial for all of them to take such a drastic principled stance. The first exchange that declares that they will not support the majority chain will be dead in weeks.

[Elwar]

Strong buy now imo. Anyone agree?

Had some money set aside for rent at the end of the month and car repair but I'm getting that to the bank quickly after work. I will likely miss these cheap coins by Monday when it reaches the exchange.

[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.

Why would there be such a consensus? Is there someone out there offering free lobotomys for exchange CEOs?

It's hypothetical. I was responding to mmitech.

[ChartBuddy]

Coin
Explanation

[Morecoin Freeman]

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.

Yes that is what I see as well.
The price was never supposed to go this low.

Apparently a lot of people on bitfinex did overextend their positions on margin.

[ask]

Next step - under $100

[Elwar]

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.

How does one get into this whaleclub?

[Morecoin Freeman]

Instructions to get on WhaleClub TeamSpeak Channel
To connect to teamspeak enter server: ts.whaleclub.io
It's public, everybody can join.
To be able to speak, ask a Mod to be verified.

How to join tutorial :
https://www.youtube.com/watch?v=Qv0TdqVRoLE

[Elwar]

Instructions to get on WhaleClub TeamSpeak Channel
To connect to teamspeak enter server: ts.whaleclub.io
It's public, everybody can join.
To be able to speak, ask a Mod to be verified.

How to join tutorial :
https://www.youtube.com/watch?v=Qv0TdqVRoLE

thanks

[abercrombie]

is crypto done?? 

[itarachiu]

Guys... I don't really understand what u discuss here... but I have a simple question... there is any chance the price of btc to coming back like it was 24h ago?

[pleaseexplainagain]

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.

not sure they are cheap coins.

 is it not likely that the current price ($232) is the old recent price of about $250 discounted down for the core/xt uncertainty? ie the spike may not have been about the core/xt issue but by happening it has lead people to react ie by not bringing it back to $250.

if then it can drop $18 on $250 (7%?) that easily/quickly  I think there is likely to be much more prospect of it dropping again in more chunks as larger and larger numbers react to the core/xt uncertainty.

No market likes uncertainty especially not a volitile market like bitcoin. There was litte new demand before but now i see there being none until well into 2016 when things might be clearer. So its only existing players trying to outsmart existing players. sh*t fighting is its common use name. no place for weak hands

[Richy_T]

Are you saying that there are pictures of Jeff and Gavin in their underpants?

I've seen England, I've seen France...

[master sato]

Funny how this dump happened almost exactly 1 year after the old ATH high long bubble popped.

[Elwar]

Guys... I don't really understand what u discuss here... but I have a simple question... there is any chance the price of btc to coming back like it was 24h ago?

It will come back eventually.

I think there was downward pressure because we prematurely jumped from the $240s due to Greece news. It helped to highlight the uses of Bitcoin but people expected it to cause a big rally.

But at least we were on a long term upward move so no worries.

[bobc1994]

Remember the best time to buy is when there is nothing but pessimism and "blood on the streets".

[ChartBuddy]

Coin
Explanation

[Richy_T]

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.

Many mining pools have already indicated they want bigger blocks. That doesn't necessarily mean we'll see a switch to XT but if we start seeing the higher block version numbers increasing in number, it could start a rush to XT.

[--Encrypted--]

Remember the best time to buy is when there is nothing but pessimism and "blood on the streets".

not when the pessimis and "blood on the streets" is going to stay for another 5+ months.  

hopefully it won't tho.

[Master mind]

Remember the best time to buy is when there is nothing but pessimism and "blood on the streets".