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Question: What happens first:
New ATH - 43 (69.4%)
<$60,000 - 19 (30.6%)
Total Voters: 62

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26372667 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
Fatman3001
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October 06, 2015, 04:32:57 PM

Max Keizer seeing through the XT coup and all the lame attempts of the bank cartels to minimize Bitcoin in the light of the "Blockchain technology":

https://www.rt.com/shows/keiser-report/317750-episode-max-keiser-819/


You mean the guy who works for the english branch of the russian propaganda machine RT?
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The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
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adamstgBit
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October 06, 2015, 04:33:18 PM

i voted >320, i think 350 is pretty good target, i might be tempted to do some short term speculation there.

i think this is big news, the sky is clearing.


I'm NOT sure whether I should reveal the specifics of my vote and screw up my anonymity, but let me just disclose that my vote was fairly bullish, but NOT at the very top of the then options....

Adam, you seem inclined to change the poll, based on some of these recent  developments,  especially developments of the past days?    Cheesy   Cheesy  Cheesy    Wink

Even though we are getting some real decent upward price action and a lot of volume (that is even likely somewhat legit), showing that there is quite a battle going on regarding the price direction.. and probably, there is going to be considerable battling all the way up to nearly the $300 levels... ...

NONETHELESS, maybe my vote today in any new poll would be nearly the same as it was 2-3 weeks ago?

Maybe once prices break $320 or so, then various parts of the public may start paying attention and start to jump on board to cause a steamrolling of continued upwardness? 

I know I have more questions than answers.  Lips sealed Lips sealed  Tongue Tongue

I try to keep the poll relevant

lol at the "price direction battle", most poeple sell at the bottom, this is what we are seeing now. i would guess they would be pretty much sold out at ~300... and then the sky will clear, magicly devs agree to some better than expected scaling solution, Gemini launch, FBI fresh out of coins, etc... those paying attention will understand the bull market started, public won't get interested until we hit >500, in <2 years the bull run is on fire, major bullish news everyday, first OIL BTC deal!  etc. what the world wants the world gets, ATM's are lined up for miles BAM 32,000$ 1/2 a trillion dollar market seems just fine for bitcoin, and once again everyone is confused as to why price is dropping...
adamstgBit
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October 06, 2015, 04:39:43 PM

by all means focus on the fact that bitcoin doesn't scale, devs are in conflict,  "its not bitcoin its about Bitcoin", 21 Inc Computer is a fail, the FBI is about to drop 45K coins on the market, GOOOOOOOOOD TIME TO SELL, right? LOL gata love the basic bitches.
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October 06, 2015, 04:40:39 PM

Max Keizer seeing through the XT coup and all the lame attempts of the bank cartels to minimize Bitcoin in the light of the "Blockchain technology":

https://www.rt.com/shows/keiser-report/317750-episode-max-keiser-819/


You mean the guy who works for the english branch of the russian propaganda machine RT?

Sure, you should stick with Fox News.
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October 06, 2015, 04:41:04 PM

The price should follow the academic prediction of Jorge. He's the only one here adequate enough to predict with confidence what the price tag will be within the next couple of minutes, hours, years... you name it. This is fundamental *science*.

The only problem is that Bitcoin never followed any science... Grin

Edit:
Even Tarmi gets it!
you are right guys and I am wrong because this time it's different.




buy buy buy

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October 06, 2015, 04:41:55 PM

BitcoinXT challenges BitcoinCore's supremacy -- no change in the BTC price

BitPay reveals loss of 6 months worth of revenue -- no change.

Major banks ditch Bitcoin and go for permissioned blockchains -- no change

BitcoinXT loses its initial support -- no change

21co releases their bitcoin-enabled RPi -- no change

BlockStream open for a 2 MB block size limit -- no change

Banks force most bitcoin firms in Australia to close -- no change

Gemini gets a BitLicense and announces opening -- no change

Malleability attack by a bored Russian causes general havoc -- no change

Jack Liu of OKCoin on Bloomberg TV -- price jumps by 8 USD in minutes.

Welcome to the world of 比特币...


No, this pump is TA based and should peak around 260$ at the beginning of next week.
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October 06, 2015, 04:54:57 PM

curious how the price jumped up today together with silver price -and oil.
If it quacks like a commodity...
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October 06, 2015, 04:58:42 PM

hello gentlemen Smiley
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October 06, 2015, 05:00:38 PM

curious how the price jumped up today together with silver price -and oil.
If it quacks like a commodity...

... it's a duck?
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October 06, 2015, 05:00:55 PM

and jorge u fucking helmet, the xt/core tension took us down from the 300ish we were at during the greek hype.

stop being wrong
ChartBuddy
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October 06, 2015, 05:02:35 PM

Coin
Explanation
spooderman
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October 06, 2015, 05:04:40 PM

THE YEAR IS 2023

bitcoins have permeated or made redundant nearly every aspect of our society

Stolfi still 'sceptical of it's longterm success'
JorgeStolfi
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October 06, 2015, 05:06:32 PM

As far as I know, the amount of screen space (i.e. forum width) on that site is customizable by the user.  Yeah, technology!

The "user mini-profiles" on the left-hand column force every response to consume ~2 inches of screen space, even if it is just one line long.

Quote
Sidebars are a fact of life.  Any website on the planet designed after 2005 has one, including reddit and all modern forums. Sidebars could even contain (gasp) useful information.

Yes, it seems that that Swiss school had quite an impact on the web.  Grin

As I wrote, most sidebars out there are read and used by readers only once every solar eclipse.  Displaying that information all the time is distracting and inefficient.  Most sidebars could be made into pull-down menus or separate pages, freeing screen estate for the information that readers are actually looking for.  The list of  "other languages" in Wikipedia is a good example.

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Everything else, including animated gifs and gray text on gray background you are pulling out of your ass.  I have not seen a single animated gif or gray text on gray background (unless you're colorblind) on that forum.

You are right about animated gifs, my mistake (There is an "online now" green dot on the avatars that does some silly anmation when the mouse wanders over it; but that is tolerable.)

As for grey on grey, I was being too terse.  The general problem is using low-contrast font-background pairs, like white on yellow or gray on tan; there are several examples of that on that forum.  

The human eyebrain uses only the brigtness ("black and white") color channel to recognize outlines of things; it ignores hue and saturation.  So, when choosing fg/bg colors for text, one must be aware of their brightness.  

Besides the first 16 digits of Pi and the name of that New Zealand town, people should also memorize this table:

White 1.0
Yellow 0.9
Cyan 0.7
Green 0.6
Magenta 0.4
Red 0.3
Blue 0.1
Black 0.0

The brightness of other colors is complicated a bit because of a thing called "display gamma", but, to a very rough approximation, mixing or adding colors has the same effect on their brightness.

When choosing a text fg/bg combination, one should try to maximize the difference between their brightnesses.  (Relative difference is more important than absolute, but reflection of ambient light on the screen raises all values so that absolute matters too.)  

From that table one can see why blue/black is a terrible choice, and white/yellow is worse still.   Even green/white is bad.  Good choices are black/white, blue/white, blue/yellow, black/yellow, etc..  Red/white and magenta/white are still OK. If other colors are to be used, one should mix enough white or black to ensure a large brigtness contrast.

Some combinations (like red text on the right shade of dark green background) can be totally unreadable, even though the colors are quite distinct.  Looking at such text is a bizarre experience: you can tell that there is text written there, but you cannot make out a single letter.

(You may notice that eye clinics have a fondness for blue lighted displays.  Besides blue/black being harder to read, blue is also the color channel that gets the least "localized" by the brain; that makes such signs look maximally blurry.)
Peter R
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October 06, 2015, 05:07:52 PM

Will we see an article in Ledger revealing your findings any time soon? Wink

I do have a half-written tech report detailing how a cartel of miners could force a change in the rules; but that has become common (if still denied) knowledge by now, so it would probably be rejected for that (if not for ideologocal reasons).

I wrote a few other reports and analyses here on bitcointalk, but nothing deep enough to be worth submitting to a journal, unfortunately.

I enjoyed your take on the "religious schism" between Core and XT playing out in fast motion...the inquisition...the banishing of the heretics...etc etc.  What I would love to see--although it would be difficult and perhaps infeasible at this point in time--is a scholarly article addressing the politics of Bitcoin governance.  How do we come to consensus?  What does "consensus" really mean in the context of Bitcoin?
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October 06, 2015, 05:17:00 PM

I do have a half-written tech report detailing how a cartel of miners could force a change in the rules; but that has become common (if still denied) knowledge by now, so it would probably be rejected for that (if not for ideologocal reasons).

So let's say a majority of miners change the rules in a way that the rest of the bitcoin community does not agree with, then what?

What prevents the core developers from just changing the hash function, rendering all mining hardware useless and let the whole mining business start from scratch? Yeah it would be pretty messy, but the mere existence of that option keeps the miners in check.

That is the conventional argument that is used to dismiss that problem.  It is like the Captain "defeating" a sailor''s mutiny by taking off in a small lifeboat and declaring it to be "the real ship"...

The Core developers would have to convince all bitcoin users to get into that small boat with them and discard the coins that they have on the carte's branch of the chain. Good luck on that...
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October 06, 2015, 05:28:37 PM

EURO
JorgeStolfi
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October 06, 2015, 05:37:52 PM

the xt/core tension took us down from the 300ish we were at during the greek hype.

Looking at the 1d charts, I see a bubble from ~230 to ~290 that started when many bitcoiners believed that the Greek would rush to bitcoin as a way to escape devaluation /  confiscation / currency controls / etc.  That bubble neatly and completely deflated, bringing the price back to ~230, when the crisis got resolved and it became clear that the Greek wanted euros, not bitcoins.

I bet that very few bitcoiners -- probably less than 50'000 -- are aware of the block size war, and even fewer understand the issue and/or see it as a risk factor for the price of bitcoin.  I bet that the proportion is even smaller among the day traders who set the price.  (How many of the gold fund speculators are aware of the state of the gold mining and recovery industries?)
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October 06, 2015, 05:39:48 PM

I do have a half-written tech report detailing how a cartel of miners could force a change in the rules; but that has become common (if still denied) knowledge by now, so it would probably be rejected for that (if not for ideologocal reasons).

So let's say a majority of miners change the rules in a way that the rest of the bitcoin community does not agree with, then what?

What prevents the core developers from just changing the hash function, rendering all mining hardware useless and let the whole mining business start from scratch? Yeah it would be pretty messy, but the mere existence of that option keeps the miners in check.

That is the conventional argument that is used to dismiss that problem.  It is like the Captain "defeating" a sailor''s mutiny by taking off in a small lifeboat and declaring it to be "the real ship"...

The Core developers would have to convince all bitcoin users to get into that small boat with them and discard the coins that they have on the carte's branch of the chain. Good luck on that...

Wrong, in the attempt of a miner/pool coup, the coin would just drop to 0 as trust in the (trustless) system would be seriously hampered.

May I remind you how BTC's price reacted when Ghash.io had 50% of the network? It crashed.

Hence, this is what the decentralized consensus mechanism implies: no one, from the devs to the nodes and miners (businesses being irrelevant) shall succeed going rogue or ultimately the users dump it all.
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October 06, 2015, 05:44:25 PM

THE YEAR IS 2023

bitcoins have permeated or made redundant nearly every aspect of our society

Stolfi still 'sceptical of it's longterm success'

THE YEAR IS 2023

The last forgotten "Bitcoin accepted" sign is found and removed by the store owner

Bitcoiners still confident that bitcoin will replace Visa "soon"
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October 06, 2015, 05:48:47 PM

I do have a half-written tech report detailing how a cartel of miners could force a change in the rules; but that has become common (if still denied) knowledge by now, so it would probably be rejected for that (if not for ideologocal reasons).

So let's say a majority of miners change the rules in a way that the rest of the bitcoin community does not agree with, then what?

What prevents the core developers from just changing the hash function, rendering all mining hardware useless and let the whole mining business start from scratch? Yeah it would be pretty messy, but the mere existence of that option keeps the miners in check.

That is the conventional argument that is used to dismiss that problem.  It is like the Captain "defeating" a sailor''s mutiny by taking off in a small lifeboat and declaring it to be "the real ship"...

The Core developers would have to convince all bitcoin users to get into that small boat with them and discard the coins that they have on the carte's branch of the chain. Good luck on that...

can you explain to me the reason why miners would form a cartel to destroy bitcoins value?

It's like the idea that the manufacturer of the ship would go against the design and put holes all over the ship and expecting the buyer to buy it happily.
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