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

[BlindMayorBitcorn]

The last name appears to be Polish in origin, and there are many Jews who also have that last name, so it's just your typical, Jewish, pro-central banking, anti-all alternatives shills.

I've uncovered that her associate spammers that are creating hundreds of anti-bitcoin spam accounts per day are also Jewish in origin.  What a hilariously predictable outcome.  Lambchop is also likely a lesbian from her aggressive anti-male attitude, which is another reason she hates Bitcoin, because Bitcoin is entirely male.

Because when even your cat is probably a nazi

The law has been repealed. We're free!!

http://www.dailydot.com/opinion/donald-trump-nazi/

[xyzzy099]

What response do you want?  I asked an honest question - "What had Mike Hearn contributed?" -  The answer is clearly NOTHING to anyone who bothers to look.  And yet you post this nonsense?  What is my response supposed to be?

You say that bitcoinj is nothing because it's not in the holy Core repository, fine. Because of this, in your mind, he has contributed nothing to Bitcoin, fine. I disagree.

Of the rare occasion I've actually talked to someone in depth IRL about bitcoin... Shooting some mBTC across the android wallet, using bitcoinj, has been the main trigger of an "ah ha" moment, where they start to actually be interested (or feign interest so well as to be undetectable   ).

Bitcoinj is just a library that allows you to call the Bitcoin API from Java/Python/etc.  It's a nice tool if you want to write a bitcoin-related program in one of the languages it supports - but that kind of thing is pretty trivial as a programming accomplishment.  Any competent programmer could have created bitcoinj, and someone else would have except Mike already did it.

It's not NOTHING AT ALL - it's useful - but it really is NOTHING if you are trying to present NOTABLE CONTRIBUTIONS to Bitcoin.

[adaseb]

Another trade opportunity.

[xyzzy099]

... Any competent programmer could have created bitcoinj, and someone else would have except Mike already did it.

It's not NOTHING AT ALL - it's useful - but it really is NOTHING if you are trying to present NOTABLE CONTRIBUTIONS to Bitcoin.

Could you tell me of any post-satoshi NOTABLE CONTRIBUTIONS to bitcoin which couldn't have been done by any competent coder?
Haven't really been following Bitcoin development lately.

Well, most recently the addition of CLTV comes to mind.

[ChartBuddy]

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Explanation

[xyzzy099]

... Any competent programmer could have created bitcoinj, and someone else would have except Mike already did it.

It's not NOTHING AT ALL - it's useful - but it really is NOTHING if you are trying to present NOTABLE CONTRIBUTIONS to Bitcoin.

Could you tell me of any post-satoshi NOTABLE CONTRIBUTIONS to bitcoin which couldn't have been done by any competent coder?
Haven't really been following Bitcoin development lately.

Well, most recently the addition of CLTV comes to mind.

Arguably the most disruptive thing to happen since Bitcoin itself! Many brilliant minds have attempted it, all for naught.
Destroyed by madness, these hapless coders could be found today starving, hysterical, naked, dragging themselves through the negro streets at dawn looking for an angry fix.

CLTV. To a feller like myself, it's like magic ...that works!

Well, your description is a little more florid than mine would be - but it is a nontrivial and notable contribution to Bitcoin.

[xyzzy099]

^"... NOTABLE CONTRIBUTIONS to bitcoin which couldn't have been done by any competent coder?"
https://github.com/bitcoin/bips/blob/master/bip-0065.mediawiki#Abstract

Look, we both know the difference between a trivial programming task (like creating a library of API calls) versus a non-trivial one (like designing and implementing new protocol features).

You could argue that any code at all could be written by any competent coder.

[xyzzy099]

^"... NOTABLE CONTRIBUTIONS to bitcoin which couldn't have been done by any competent coder?"
https://github.com/bitcoin/bips/blob/master/bip-0065.mediawiki#Abstract

Look, we both know the difference between a trivial programming task (like creating a library of API calls) versus a non-trivial one (like designing and implementing new protocol features).

You could argue that any code at all could be written by any competent coder.

Have no horse in this race, but could also argue that the trivial library is more useful and has done more for Bitcoin adoption than CLTV ever will.
Just hate all this idol-worship-segue-to-'fuck him, we never liked him anyway' rejected girl bullshit.

Well, CLTV is not even really live yet - it's a soft-fork - so time will tell on that one.

I don't have any interest in whatever that "all this idol-worship-segue-to-'fuck him, we never liked him anyway' rejected girl bullshit" is either.

[ChartBuddy]

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Explanation

[aztecminer]

i still believe that bitcoin is manipulated by the us govy.. i think the chinese pump and dump scheme was a us govy operation. we are maintaining a level that we haven't held since the greek crisis. there really is nothing comparable to the greek crisis going on in the world. you could try to say syria but that has been going on for months. bitcoin is a us govy scheme. they have already schemed a bunch cash out of it .. the us govy has been making a HUGE profit from bitcoin. absolutely HUGE profits. and then we have the "blockchain blacklists", which i feel it is my personal duty to warn my friends.

atm we have multiple insolvent exchanges. we have people who cannot get their money from cryptsy ?? small exchange ?? then wtf do I have an account there and have had one for over a year ?? i used to hangout there all the time. thankfully i was out there before they started going tits up. that exchange is not as small and insignificant as you all like to pretend it is. cryptsy has to be insignificant so as to not effect the price. bitcoin has become more like ripple where events do not phase it because those events are not part of the plan.. well, in my experience, plans don't always work out. especially schemes. the usa govy might not learn that easy since they have turned gay cuz of left-hander obama.

[galdur]

It doesn´t always stay in Vegas

[Richy_T]

Or just get a Bitcoin credit card. Then, you can transact instantaneously. Problem solved

I just use a regular credit card but make a mental note to sell some of my bitcoins to pay the bill.

Now, here's the clever bit. I sell those bitcoins to myself. Zero fees, can you imagine? Avoids problems with volatility too.

(To those who miss my sarcasm, bitcoin credit cards are not the same as buying things with bitcoin)

[ChartBuddy]

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Explanation

[Richy_T]

Bitcoinj is just a library that allows you to call the Bitcoin API from Java/Python/etc.  It's a nice tool if you want to write a bitcoin-related program in one of the languages it supports - but that kind of thing is pretty trivial as a programming accomplishment.  Any competent programmer could have created bitcoinj, and someone else would have except Mike already did it.

Given that the bitcoin API is just JSON over RPC, most languages already support these and it only takes a trivial amount of glue to join them together to work with the API. I guess if you really want to get fancy, you *could* add a wrapper class and some helper functions, maybe make some of the more common steps easier to do but yeah, it doesn't rank up there in programming achievements.

Not that I'm bashing Hearn. I'm pretty neutral on his opinions but I do agree that we need to lose the current block size limit.

[galdur]

An artist or an ape?

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[nioc]

elephant?

[makeacake]

An artist or an ape?
...

Whatever it is, turn on the gas!

[Elwar]

the First Halvening was epic partytime.

Well, it wasn't. 

It happened on 2012-11-28, and the price didn't budge for 5 weeks. 

Then a  rally started, that peaked on Apr/2013... pulled by BTC-China, which
had just ben taken over by Bobby Lee, and explained as the "discovery" of bitcoin
by the Chinese amateur commodity speculators.

Correlation does not imply causation.  Lack of correlation is strong evidence of lack of causation...

The price certainly did begin its rise after the halving and everyone realized Bitcoin wasn't going to crash and burn as many had predicted.

The theory being that when the reward was halved, a majority of the miners would stop mining and the few remaining miners would never be able to solve the next block due to the "high" difficulty.

I believe the price was kept low preceding the halving due to concerns of the unknown. This time around we do not have such concerns so the price will not be kept down before the next halving.

[ChartBuddy]

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Explanation

[JayJuanGee]

ya.. so 350 in the next 26 hours  

When volume is weak like this... why bid things up? What's the rush?

We were comfortable at $220 not that long ago, $320 is a hard pill to swallow without substantial changes in the atmosphere. We need resolution from the 200k gox dagger above our heads... then comes max_block_size increases and the halvening, everybody's just buying/selling discount or premium tickets to that, at the moment.

Edit: "Fine, bid things up then."

I'm not sure about whether as of yesterday I would have agreed that we had reach "low volume,"  because we need to look over a larger time-frame than merely a few hours of performance and the past several days have had volumes (on stamp) of well over 20k per day... which is very respectable.

Now, the current daily candle is adding up to a really low number. (maybe far lower than 10k, which certainly meets a definition of "low" on a daily scale).. and I wonder if we are going to experience a few low days like this, or if there are some big players waiting in the wings to continue the BTC price battle.

If trade volume stays down like this for several days, then possibly the BTC market would be content with a mid $320s floating point? 

I still tend to conclude that if BTC trade volume has truly gone down then traders are relatively happy with the current price point.  Accordingly, we have to wait a few days to verify whether interest in trading has really and truly subsided.

I predict that it's more likely than not that we are going to witness additional battling over the price and BTC price surges (of 8% or more up or down) on or before black friday....

maybe 70% yes and 30% no.... Any thoughts?

@ Adam:     maybe a new poll is in order, no?