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

[ChartBuddy]

Coin



Explanation

[r0ach]

Monkey gave up on it intraday.  I'm out.

[BlindMayorBitcorn]

The Bitcoin Kid is at it again.

https://np.reddit.com/r/btc/comments/3yj7r0/coinbase_censorship/

[iram66680]

Monkey gave up on it intraday.  I'm out.

So the war is on 

Bitcoin will rise now at an unspeakable level.

The bears will be known as the Russian Bears! 

[billyjoeallen]

Jeff Garzik on the Stalling Bitcoin conferences:

https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223a#.82qumsxby

One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase.

This is far from fucking over.

[peonminer]

This Western VS Eastern walls battle is making me woozy.

[JayJuanGee]

Jeff Garzik on the Stalling Bitcoin conferences:

https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223a#.82qumsxby

One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase.

This is far from fucking over.

That's right, and it seems that you are planning to continue to provide us with a blow by blow status update regarding the impending fulblocalypse on a several times a day basis.   

That's gonna help to light a little fire under their britches... 

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

Jeff Garzik on the Stalling Bitcoin conferences:

https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223a#.82qumsxby

One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase.

This is far from fucking over.

That's right, and it seems that you are planning to continue to provide us with a blow by blow status update regarding the impending fulblocalypse on a several times a day basis.   

That's gonna help to light a little fire under their britches... 

As I've said repeatedly, the only thing likely to light a fire under their britches is a market crash, which makes a market crash almost inevitable.

to remove long term moral hazard, core block size limit should be made dynamic, put in the realm of software, outside of human hands.

[JayJuanGee]

Finally, in the past 5 minutes, we have a little volume rumblings on Stamp... Will it last for more than 15-30 minutes?  hm?

[Cconvert2G36]

Jeff Garzik on the Stalling Bitcoin conferences:

https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223a#.82qumsxby

One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase.

This is far from fucking over.

That's right, and it seems that you are planning to continue to provide us with a blow by blow status update regarding the impending fulblocalypse on a several times a day basis.  

That's gonna help to light a little fire under their britches...  

Seems pretty relevant to whether Bitcoin reaches its true potential or is captured for use by a for-profit company. This has profound implications for the price, which we are all speculating on. Are you a passenger or a participant? Would you rather we discussed the weather?

[JayJuanGee]

Jeff Garzik on the Stalling Bitcoin conferences:

https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223a#.82qumsxby

One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase.

This is far from fucking over.

That's right, and it seems that you are planning to continue to provide us with a blow by blow status update regarding the impending fulblocalypse on a several times a day basis.   

That's gonna help to light a little fire under their britches... 

As I've said repeatedly, the only thing likely to light a fire under their britches is a market crash, which makes a market crash almost inevitable.

to remove long term moral hazard, core block size limit should be made dynamic, put in the realm of software, outside of human hands.

Remember, the market already enjoyed a mini-crash from the upper $200s/lower $300s range, and it did not seem to phase them too much into resolving the matter... thereafter, we experienced a mini-crash upwards to $500, and pretty much a sustaining above $320 in the past couple of months, which seems a decent indicator that the market is not feeling any fire under their britches.

It seems that with so much money being put into mining and securing the bitcoin network, there is quite a bit of space, yet, to work with before we get too close to the doom and gloom scenario that you are forecasting.


By the way.. you don't seem to like the decision making process of humans too much, unless you are the human making the decision about what needs to be done... 

[JayJuanGee]

Jeff Garzik on the Stalling Bitcoin conferences:

https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223a#.82qumsxby

One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase.

This is far from fucking over.

That's right, and it seems that you are planning to continue to provide us with a blow by blow status update regarding the impending fulblocalypse on a several times a day basis.  

That's gonna help to light a little fire under their britches...  

Seems pretty relevant to whether Bitcoin reaches its true potential or is captured for use by a for-profit company. This has profound implications for the price, which we are all speculating on. Are you a passenger or a participant? Would you rather we discussed the weather?

Yes, it is going to work out...


Calm... please.   hahahahahaha   

[Richy_T]

Jeff Garzik on the Stalling Bitcoin conferences:

https://medium.com/@jgarzik/bitcoin-is-being-hot-wired-for-settlement-a5beb1df223a#.82qumsxby

One of the explicit goals of the Scaling Bitcoin workshops was to funnel the chaotic core block size debate into an orderly decision making process. That did not occur. In hindsight, Scaling Bitcoin stalled a block size decision while transaction fee price and block space pressure continue to increase.

This is far from fucking over.

I'll schedule a meeting so we can select a committee to have a discussion about who should arrange a conference...

[peonminer]

It's 'finex vs the world at this point. Who ever opened a $3,000,000.00 long earlier does not want this thing going down. All other exchanges are putting the beating on.

[billyjoeallen]

Remember, the market already enjoyed a mini-crash from the upper $200s/lower $300s range, and it did not seem to phase them too much into resolving the matter... thereafter, we experienced a mini-crash upwards to $500, and pretty much a sustaining above $320 in the past couple of months, which seems a decent indicator that the market is not feeling any fire under their britches.

It seems that with so much money being put into mining and securing the bitcoin network, there is quite a bit of space, yet, to work with before we get too close to the doom and gloom scenario that you are forecasting.


By the way.. you don't seem to like the decision making process of humans too much, unless you are the human making the decision about what needs to be done... 

If you understand what politics really is, you would know that it is not based on win-win like the market, but on win-lose. The art of politics is to convince enough people to agree with you so that you can forcibly impose your will on those who don't.  That is why I prefer markets.

The 1 MB cap is an artificial limit that makes winners and losers.  Some crafty people saw that this anti-spam tool could be re-purposed into an economic policy tool that they could use as a weapon. Allowing this weapon to be in the hands of ANYONE, whether friend or foe creates moral hazard, the same sort of moral hazard that has turned national monetary policy into a wealth transfer engine from poor people to rich people. 

What happens to all the wallets with milibits in them when the xaction fees run in centibits? They are effectively worthless.  Wealth stolen from the poor just like with fiat.

Meet the new boss, same as the old boss.

[ErisDiscordia]

Let's be honest here, the only people that know about bitcoin are semi tech savy people +++, everyone else is to busy dicking around doing useless shit twerking and yolo swag shit.

When the global wealth transfer comes who are the rich people?

Most of us know about some or more conspiracy's, then when you look at this like bitcoin and the blockchain with internetz money on a distributerdddd ledgar 420 bip101010 miners realz money hash massive numbers adreesess over here put this shit,


were not normal to begin with.

I like this post - it's my kind of crazy 

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

Conspicuously missing from the Blockstream roadmap are any specifics such as:

At X time, the block size limit will be increased by Y amount

When X% of blocks are full, the limit will be raised by Y amount

At X difficulty level, X transaction fee level, X number of nodes, etc...

There is no objective criteria for any increases at all, and this may be by design. In the absence of such criteria, the de facto criteria becomes:

When Core developers get bribed X amount of money, the limit increases or decreases by Y amount.

There's no reason to think that software engineers are any better at central planning than bankers are.

Just tell us when the limit will be raised and by how much so we can fucking plan. If you don't tell us, we don't know if it will ever be raised and preparing for the Fullblocalypse is more being responsible than being paranoid. 

[BlindMayorBitcorn]

There's probably a thread out there somewhere about this, but: How the hell did a 22 year old kid get the keys to so many kingdoms? It's comical!