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

[tommorisonwebdesign]

This may be the beginning of a crash. Let's hope the price pumps back up.

[Richy_T]

Have I got my facts straight?

The XT devs want bigger blocks which increase at a humungous rate each year, to log every user's IP for blacklisting purposes, and to disable Tor use for wallets.

The core devs want to implement something called the Lightning Network and sidechains.

Are there any devs left who just want to increase the block size to 8MB and not tamper with anything else?

The XT guy also released the code for core with just the large blocks patched. It is not released as a compiled or supported version though.

[Master mind]

This gif made me lol so hard.  Bitcoin market in 2014, and the Oil market and Chinese stock market now.

Of course I'm now more bullish on the Bitcoin market for 2 reasons, and the second one is a pretty sad but true reason:  

1. We've bottomed out.

2. Hi net worth traders absolutely LOVE volatility, and they've basically exhausted all other markets for now (U.S. stock market, European market, Chinese market, commodities market, gold market, etc.).  

There's really no where else for them to run to get that fix, and the Bitcoin market hasn't seen a real rally in a long time.  And they know that public sentiment is down for all those other markets right now.

So IMO, it's just a matter of time before they come back to the Bitcoin market again.

http://bitcoinrichlist.com/top100

[ChartBuddy]

Coin
Explanation

[Richy_T]

log everyone's IPs, blacklist and block tor?

thank to let me know, I will never use XT and will always fight it

Please take the time to educate yourself. That is almost a total misrepresentation of the facts.

[sAt0sHiFanClub]

log everyone's IPs, blacklist and block tor?

thank to let me know, I will never use XT and will always fight it

No.
Optional
No.

If used behind a proxy it doesn't do anything.

Seriously, though, if you are going to be a core crusader you might start by checking a few of the facts first.

[Warren Buffert]

I told you all since the start of 2014 that bitcoin was over. Nobody is interested in it anymore as an investment.. that means GAME OVER for all of you trying to make it rich. Sorry, but it just isn't going to happen. Here's why:

1. China is out. Their govt cracked down on it, which was a wake up call for investors around the world that bitcoin CAN be controlled by governments, and rather easily, at that.

2. There are no developers! There is a very small team of men working on the bitcoin project part time. And they hardly receive anything for their troubles. There's no accountability behind any of it and nobody to turn to when there are software issues and bugs uncovered. And this isn't just a new version of Windows which could have a bug like a sound driver issue. If something goes wrong, ALL YOUR MONEY COULD BE LOST. Nobody aside from maniacs is willing to take on those risks.

3. There is simply no momentum anymore. From 2009 until 2013, some interesting things were happening. Bitcoin went from nothing essentially, to something that was being talked about on the news, and even a few stores were willing to accept it. More stores followed, but very few actually accept bitcoins. They actually take them and instantly convert to cash, so it's a gimmick more than anything. Now many of these stores aren't accepting at all anymore, because nobody uses it!

[becoin]

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

[Master mind]

[marcotheminer]

If something goes wrong, ALL YOUR MONEY COULD BE LOST.

The most general statement in the world and it applies to everything.

Money in a bank? If something goes wrong, ALL YOUR MONEY COULD BE LOST.
Money in Bitcoin? If something goes wrong, ALL YOUR MONEY COULD BE LOST.
Money in Gold? If something goes wrong, ALL YOUR MONEY COULD BE LOST.
Money in houses? If something goes wrong, ALL YOUR MONEY COULD BE LOST.

[Gyrsur]

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

true and have my support.

[madonnino]

If something goes wrong, ALL YOUR MONEY COULD BE LOST.

The most general statement in the world and it applies to everything.

Money in a bank? If something goes wrong, ALL YOUR MONEY COULD BE LOST.
Money in Bitcoin? If something goes wrong, ALL YOUR MONEY COULD BE LOST.
Money in Gold? If something goes wrong, ALL YOUR MONEY COULD BE LOST.
Money in houses? If something goes wrong, ALL YOUR MONEY COULD BE LOST.

agree and....  https://en.wikipedia.org/wiki/Murphy%27s_law

[adamstgBit]

the FUD is strong today

[sAt0sHiFanClub]

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

So want a bitcoin only for those rich enough to be able to get their tx's on the chain? How libertarian. Such altruism.

You are a perfect fit for the blockstream dream of a bitcoin solely accessible from a private sidechain. No direct access to the non-monied proletariat. I think that is a seismic shift from satoshis original plan. How do you reconcile that?

[Gyrsur]

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

So want a bitcoin only for those rich enough to be able to get their tx's on the chain? How libertarian. Such altruism.

You are a perfect fit for the blockstream dream of a bitcoin solely accessible from a private sidechain. No direct access to the non-monied proletariat. I think that is a seismic shift from satoshis original plan. How do you reconcile that?

it's to early to decide a grow of the blocklimit. in the future the block reward will decrease and the fees have to increase. thats the vision of satoshi. but we have to handle it with calm.

[Master mind]

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

So want a bitcoin only for those rich enough to be able to get their tx's on the chain? How libertarian. Such altruism.

You are a perfect fit for the blockstream dream of a bitcoin solely accessible from a private sidechain. No direct access to the non-monied proletariat. I think that is a seismic shift from satoshis original plan. How do you reconcile that?

it's to early to decide a grow of the blocklimit. in the future the block reward will decrease and the fees have to increase. thats the vision of satoshi. but we have to handle it with calm.

What do you think will happen to the millions of lost bitcoins ?

[Gyrsur]

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

So want a bitcoin only for those rich enough to be able to get their tx's on the chain? How libertarian. Such altruism.

You are a perfect fit for the blockstream dream of a bitcoin solely accessible from a private sidechain. No direct access to the non-monied proletariat. I think that is a seismic shift from satoshis original plan. How do you reconcile that?

it's to early to decide a grow of the blocklimit. in the future the block reward will decrease and the fees have to increase. thats the vision of satoshi. but we have to handle it with calm.

What do you think will happen to the millions of lost bitcoins ?

[fonsie]

Would absolutely love for the core dev team to get on-board with bigger blocks and I'm sure most other people would too. Now that their bluff has been called, maybe we'll see them implement something.

There is no need for bigger block size. There is no need to increase the size of blocks every time we get near the limit. There is no need for free money transfers for everyone. Everything that is free for the users but not free for the manufacturers will be abused in every possible way. That is a basic rule for every economy!!! Blockchain will be cluttered with spam and bitcoin will become worthless. Everyone should get accustomed to the idea that they have to compete with higher fees to get included in a block. XT altcoin gives no solution to this at all. It just kicks the can down the road in the most irresponsible way!

Bitcoin^Blockstream Edition AKA Bitcoin Core will have to rely on the lightening network of some sorts, which will

1) centralize massively
2) take away miners fee, so no incentive for miners

Eventual dead of Bitcoin^Blockstream Edition AKA Bitcoin Core

Dev's powered by ^Blockstream are the ones out for self enrichment, slowly killing Bitcoin.

[natewelt]

3200 BTC on Stamp to get through to get back to 250.

Just a little more consolidation in the 230s before an explosion higher once people realize the crash has happened so it's time to load back up.

[Gyrsur]

it's to early to decide a grow of the blocklimit.

Right on.  Should wait until there's a catastrophic backlog, and then start thinking about what to do about it & trying to reach a consensus.

go ahead to increase the backlog.  

https://www.cryptocoinsnews.com/coinwallet-plans-stress-test-bitcoin-make-case-larger-block-size/