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

[Cconvert2G36]

It's a technical problem.  There are technical solutions.  When I want to make a BTC purchase, I spend XMR using xmr.to or shapeshift.io.  Consequently my privacy is assured.

What's the technical solution for buying a car, a house, a commercial property?

In each of those cases, the purchase is a matter of public record, and hence privacy concerns are moot.

But yes, there is a scale problem.  When the nickel and dime volume is large enough, then the liquidity will suffice for the dollar traffic to insinuate itself, &c.  Given the trend in privacy awareness in marketplaces which have historically been early adopters of crypto, I expect the scale problem to work itself out over time.  "Price fixes everything."  

I was thinking more along the lines of privacy of the origin of funds rather than whether you, as the new owner of property, were identifiable.

Your point is an important one though, and largely the reason why I am passionate about scaling, it's the small stuff that facilitates the store of value/big stuff.  

[ChartBuddy]

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Explanation

[niktitan132]

C'mon. Somebody buy a few thousand coins and get this thing rolling again.

Sub-$450 is getting boring. It was fun as a buying opportunity but it's time to move on.

 

Start it off man. Buy a few K btc and see where it gets us.  

[billyjoeallen]

It's a technical problem.  There are technical solutions.  When I want to make a BTC purchase, I spend XMR using xmr.to or shapeshift.io.  Consequently my privacy is assured.

What's the technical solution for buying a car, a house, a commercial property?

In each of those cases, the purchase is a matter of public record, and hence privacy concerns are moot.

But yes, there is a scale problem.  When the nickel and dime volume is large enough, then the liquidity will suffice for the dollar traffic to insinuate itself, &c.  Given the trend in privacy awareness in marketplaces which have historically been early adopters of crypto, I expect the scale problem to work itself out over time.  "Price fixes everything."  

More like "price fixing screws up everything."  The miners just want a good Return on Investment, as they should. The're not going to rock the boat, either for the blockstream patch, BIP101, or any other scaling solution until it hurts their bottom line enough to do so.  That means the price has to go down far enough for them to have the incentive to adopt a patch and if price doesn't...fullblocalypse. Miners will take us right to the brink because they want the fees and don't want risk breaking Bitcoin until it's clear that it's already broken.

As fees creep up and most legit users stop using the network, the money launderers tax cheats and drug dealers will dominate and then the governments will push to seal up the on and offramps under some anti-terrorism bullshit.

Blockstream can stop BIP101. Bigblockers can stop Blockstream. Nobody has a consensus and nobody is going to get one. Traders will be able to jam the network for hours to manipulate the price. Meanwhile BankAmericoin, Applecoin, FBcoin and others are going to roll out their products and the first mover advantage will be squandered.

[peonminer]

[ChartBuddy]

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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.