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

[Elwar]

[...]My landlord invests in gold and oil [...]

What's it like, having a brokeass landlord?

Ya, he hasn't been very happy about oil and Apple this year. Maybe that's why he's glad I'm renting.

[aztecminer]

Well, is everyone happy in here lol, seems when the stock market shakes apart, BTC goes up. 

yeah... greece pump was small timers compared to this!

[aztecminer]

Well, is everyone happy in here lol, seems when the stock market shakes apart, BTC goes up. 

noone is ever happy in here anymore ... trolls are gonna make sure that there's an endless stream of FUD and negativity explaining how crap and flawed bitcoin is ... bitcoin has a long way to go before trolls throw in the towel, like next ATH.

well the problem is: there ARE flaws in bitcoin. ... several in fact.

[aztecminer]

yes so true... it never ends.

Its only because they know its good, and they missed the boat somewhere along the way  

hmm.. i just learned that.. if anyone exposes bitcoins flaws, then they musta "missed the boat" .

[aztecminer]

hmm.. found an image of the November 2015 Marshal's Auction Pump



http://imgur.com/B1d2SmH

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

^OK.

Hey, how come nobody's talkin' 'bout this?

https://bitcoin.org/en/bitcoin-core/2016-01-07-statement

It's like you all just up and forgot how to appreciate Blockstream!

hahahahaha...


The reason is because, for some strange reason, the one instrument marching band, BJA, has disappeared from this thread and has NOT been trolling in recent days.

He (BJA) is probably out trying to figure out his story in order to make a come back and to tell us about his having had made "mucho bucks" in the latest BTC price movement because of our small blocker stupidities.

don't worry.. i got the trash talking covered while he is away .

I made a few bucks lending out my fiat to bulls. The interest rate has shot up.  Look, I don't know for sure if we're going to get a network congestion crash, but it's a very real risk.  I have a higher percentage of my net worth in BTC than almost anybody else here. I HOPE I'm wrong, but it's just plain irresponsible not to factor in the danger when we are running so close to maximum capacity and getting closer every day.

The Blockstream core devs have an incentive to overstate the problems with large blocks. They have an incentive to restrict network capacity and keep it congested. That doesn't automatically mean that they are acting on those incentives, but if they are, it would explain a lot of their actions and rhetoric.

What I am more worried about is the possibility that there is an ongoing rough consensus attack that will keep ANY resolution from being implemented until Bitcoin loses first mover advantage. But I guess it doesn't ultimately matter if the impasse is intentional or not. What matters is whether or not Bitcoin is really anti-fragile, and that is unknown at this point.

[philip2000uk]

^OK.

Hey, how come nobody's talkin' 'bout this?

https://bitcoin.org/en/bitcoin-core/2016-01-07-statement

It's like you all just up and forgot how to appreciate Blockstream!

hahahahaha...


The reason is because, for some strange reason, the one instrument marching band, BJA, has disappeared from this thread and has NOT been trolling in recent days.

He (BJA) is probably out trying to figure out his story in order to make a come back and to tell us about his having had made "mucho bucks" in the latest BTC price movement because of our small blocker stupidities.

don't worry.. i got the trash talking covered while he is away .

I made a few bucks lending out my fiat to bulls. The interest rate has shot up.  Look, I don't know for sure if we're going to get a network congestion crash, but it's a very real risk.  I have a higher percentage of my net worth in BTC than almost anybody else here. I HOPE I'm wrong, but it's just plain irresponsible not to factor in the danger when we are running so close to maximum capacity and getting closer every day.

The Blockstream core devs have an incentive to overstate the problems with large blocks. They have an incentive to restrict network capacity and keep it congested. That doesn't automatically mean that they are acting on those incentives, but if they are, it would explain a lot of their actions and rhetoric.

What I am more worried about is the possibility that there is an ongoing rough consensus attack that will keep ANY resolution from being implemented until Bitcoin loses first mover advantage. But I guess it doesn't ultimately matter if the impasse is intentional or not. What matters is whether or not Bitcoin is really anti-fragile, and that is unknown at this point.

I don't know what you just said lol...anyway btc to the moon

[Fatman3001]

^OK.

Hey, how come nobody's talkin' 'bout this?

https://bitcoin.org/en/bitcoin-core/2016-01-07-statement

It's like you all just up and forgot how to appreciate Blockstream!

hahahahaha...


The reason is because, for some strange reason, the one instrument marching band, BJA, has disappeared from this thread and has NOT been trolling in recent days.

He (BJA) is probably out trying to figure out his story in order to make a come back and to tell us about his having had made "mucho bucks" in the latest BTC price movement because of our small blocker stupidities.

don't worry.. i got the trash talking covered while he is away .

I made a few bucks lending out my fiat to bulls. The interest rate has shot up.  Look, I don't know for sure if we're going to get a network congestion crash, but it's a very real risk.  I have a higher percentage of my net worth in BTC than almost anybody else here. I HOPE I'm wrong, but it's just plain irresponsible not to factor in the danger when we are running so close to maximum capacity and getting closer every day.

The Blockstream core devs have an incentive to overstate the problems with large blocks. They have an incentive to restrict network capacity and keep it congested. That doesn't automatically mean that they are acting on those incentives, but if they are, it would explain a lot of their actions and rhetoric.

What I am more worried about is the possibility that there is an ongoing rough consensus attack that will keep ANY resolution from being implemented until Bitcoin loses first mover advantage. But I guess it doesn't ultimately matter if the impasse is intentional or not. What matters is whether or not Bitcoin is really anti-fragile, and that is unknown at this point.

Nice to see you haven't gone full aztec on us. If there is an intentional "rough consensus attack" going on, who do you think is conducting it?

[UnDerDoG81]

Instead, I listened to others again.

Yeah, that can be a costly lesson.

Or probably had not the guts 

About localbitcoins, I live in Germany.

[JimboToronto]

Good AM Bitcoinland. Still holding in the $450s.

Looks like after going up almost $40 in about 24 hours, the market is catching its breath.

Perhaps we'll go sideways for a spell before making a move in either direction. Then again, it's almost the weekend and anything can happen.

No double digits though.  

[billyjoeallen]

^OK.

Hey, how come nobody's talkin' 'bout this?

https://bitcoin.org/en/bitcoin-core/2016-01-07-statement

It's like you all just up and forgot how to appreciate Blockstream!

hahahahaha...


The reason is because, for some strange reason, the one instrument marching band, BJA, has disappeared from this thread and has NOT been trolling in recent days.

He (BJA) is probably out trying to figure out his story in order to make a come back and to tell us about his having had made "mucho bucks" in the latest BTC price movement because of our small blocker stupidities.

don't worry.. i got the trash talking covered while he is away .

I made a few bucks lending out my fiat to bulls. The interest rate has shot up.  Look, I don't know for sure if we're going to get a network congestion crash, but it's a very real risk.  I have a higher percentage of my net worth in BTC than almost anybody else here. I HOPE I'm wrong, but it's just plain irresponsible not to factor in the danger when we are running so close to maximum capacity and getting closer every day.

The Blockstream core devs have an incentive to overstate the problems with large blocks. They have an incentive to restrict network capacity and keep it congested. That doesn't automatically mean that they are acting on those incentives, but if they are, it would explain a lot of their actions and rhetoric.

What I am more worried about is the possibility that there is an ongoing rough consensus attack that will keep ANY resolution from being implemented until Bitcoin loses first mover advantage. But I guess it doesn't ultimately matter if the impasse is intentional or not. What matters is whether or not Bitcoin is really anti-fragile, and that is unknown at this point.

I don't know what you just said lol...anyway btc to the moon

I'm saying the transaction relay network may crash when it gets so close to full capacity that transactions fail, get repeatedly resubmitted which makes the congestion and failure rate worse, and this condition will remain until there is a market crash and enough people stop using Bitcoin to clear the backlog. If this happens in conjunction with the high profile launch of a competing cryptocurrency, it may be enough to overcome Bitcoin's network effects and turn us into the MySpace of crypto. 

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

Nice to see you haven't gone full aztec on us. If there is an intentional "rough consensus attack" going on, who do you think is conducting it?

Cui Bono. Who benefits? The State(s). The Banks. Silicone Valley. Wallstreet. The suspect list is long. It could just be manipulators who want to drive the price down so that they can buy on the cheap before a scaling solution is implemented.

[aztecminer]

^OK.

Hey, how come nobody's talkin' 'bout this?

https://bitcoin.org/en/bitcoin-core/2016-01-07-statement

It's like you all just up and forgot how to appreciate Blockstream!

hahahahaha...


The reason is because, for some strange reason, the one instrument marching band, BJA, has disappeared from this thread and has NOT been trolling in recent days.

He (BJA) is probably out trying to figure out his story in order to make a come back and to tell us about his having had made "mucho bucks" in the latest BTC price movement because of our small blocker stupidities.

don't worry.. i got the trash talking covered while he is away .

I made a few bucks lending out my fiat to bulls. The interest rate has shot up.  Look, I don't know for sure if we're going to get a network congestion crash, but it's a very real risk.  I have a higher percentage of my net worth in BTC than almost anybody else here. I HOPE I'm wrong, but it's just plain irresponsible not to factor in the danger when we are running so close to maximum capacity and getting closer every day.

The Blockstream core devs have an incentive to overstate the problems with large blocks. They have an incentive to restrict network capacity and keep it congested. That doesn't automatically mean that they are acting on those incentives, but if they are, it would explain a lot of their actions and rhetoric.

What I am more worried about is the possibility that there is an ongoing rough consensus attack that will keep ANY resolution from being implemented until Bitcoin loses first mover advantage. But I guess it doesn't ultimately matter if the impasse is intentional or not. What matters is whether or not Bitcoin is really anti-fragile, and that is unknown at this point.

i heard there is a bandwidth problem. i heard they were supposed to resolve the problem first part of this year before the halving.. from what i have heard that their is no resolution to the problem in sight yet... only devs arguing about it while different groups vie for power over the bitcoin fees and who controls the bandwidth ..... that power struggle over who will control the fees and bandwidth looks like it is going to be a failure to me.... however, due to the manipulation of bitcoin i think it will continue upwards or maintain sideways for weeks upon weeks at this level.. however, eventually, when they either fuk the problem worse or fail to resolve the problem, then bitcoin will come back down..  it has too because there is a major league flaw .. it is such a big deal that everyone is starting to look away from it and cover it up because their investment is in DANGER.... the real danger is buying bitcoins at these inflated prices and then it crashes.. that will equal a wealth transfer from the losers to the winners (winners probably mostly the manipulators, and those who saw through the bullshiat) .. either way .. i think victory is inevitable for those of us playing the game hard ball. i am maintaining a position of coins in cold storage and fiat on exchange in case of a crash. otherwise, i'm not buying bitcoins at all.. i'm working on other things atm while bitcoin gimps (if bitcoin cannot scale properly then it is GIMPED).

[aztecminer]

I have about 60% of my money invested in Bitcoin wich actually is at a non loss/non profit level @450. I got 35% of the rest of my money stored here at home. And I have no idea what to do with it? Should I invest this in more BTC? This is money I expect that I don´t need it anytime soon.

if u don't own a gun, then buy a gun and ammo.. if you already own a gun and ammo, then buy pms .. that will really leave em pissed.

[aztecminer]

^OK.

Hey, how come nobody's talkin' 'bout this?

https://bitcoin.org/en/bitcoin-core/2016-01-07-statement

It's like you all just up and forgot how to appreciate Blockstream!

hahahahaha...


The reason is because, for some strange reason, the one instrument marching band, BJA, has disappeared from this thread and has NOT been trolling in recent days.

He (BJA) is probably out trying to figure out his story in order to make a come back and to tell us about his having had made "mucho bucks" in the latest BTC price movement because of our small blocker stupidities.

don't worry.. i got the trash talking covered while he is away .

I made a few bucks lending out my fiat to bulls. The interest rate has shot up.  Look, I don't know for sure if we're going to get a network congestion crash, but it's a very real risk.  I have a higher percentage of my net worth in BTC than almost anybody else here. I HOPE I'm wrong, but it's just plain irresponsible not to factor in the danger when we are running so close to maximum capacity and getting closer every day.

The Blockstream core devs have an incentive to overstate the problems with large blocks. They have an incentive to restrict network capacity and keep it congested. That doesn't automatically mean that they are acting on those incentives, but if they are, it would explain a lot of their actions and rhetoric.

What I am more worried about is the possibility that there is an ongoing rough consensus attack that will keep ANY resolution from being implemented until Bitcoin loses first mover advantage. But I guess it doesn't ultimately matter if the impasse is intentional or not. What matters is whether or not Bitcoin is really anti-fragile, and that is unknown at this point.

I don't know what you just said lol...anyway btc to the moon

I'm saying the transaction relay network may crash when it gets so close to full capacity that transactions fail, get repeatedly resubmitted which makes the congestion and failure rate worse, and this condition will remain until there is a market crash and enough people stop using Bitcoin to clear the backlog. If this happens in conjunction with the high profile launch of a competing cryptocurrency, it may be enough to overcome Bitcoin's network effects and turn us into the MySpace of crypto.  

i have already prepared for such an eventuality. it probably won't be a new coin, instead it might be an already established coin that steals the limelight.

[billyjoeallen]

^OK.

Hey, how come nobody's talkin' 'bout this?

https://bitcoin.org/en/bitcoin-core/2016-01-07-statement

It's like you all just up and forgot how to appreciate Blockstream!

hahahahaha...


The reason is because, for some strange reason, the one instrument marching band, BJA, has disappeared from this thread and has NOT been trolling in recent days.

He (BJA) is probably out trying to figure out his story in order to make a come back and to tell us about his having had made "mucho bucks" in the latest BTC price movement because of our small blocker stupidities.

don't worry.. i got the trash talking covered while he is away .

I made a few bucks lending out my fiat to bulls. The interest rate has shot up.  Look, I don't know for sure if we're going to get a network congestion crash, but it's a very real risk.  I have a higher percentage of my net worth in BTC than almost anybody else here. I HOPE I'm wrong, but it's just plain irresponsible not to factor in the danger when we are running so close to maximum capacity and getting closer every day.

The Blockstream core devs have an incentive to overstate the problems with large blocks. They have an incentive to restrict network capacity and keep it congested. That doesn't automatically mean that they are acting on those incentives, but if they are, it would explain a lot of their actions and rhetoric.

What I am more worried about is the possibility that there is an ongoing rough consensus attack that will keep ANY resolution from being implemented until Bitcoin loses first mover advantage. But I guess it doesn't ultimately matter if the impasse is intentional or not. What matters is whether or not Bitcoin is really anti-fragile, and that is unknown at this point.

Nice to see you haven't gone full aztec on us. If there is an intentional "rough consensus attack" going on, who do you think is conducting it?

Cui Bono? Who benefits? The State(s), Banks, Zuckerberg, the list  of suspects is long.

The problem is not just Core's decision-making process. It's Bitcoin's reliance on Core. It's laughable that they cry about centralization when they themselves are Bitcoin's greatest central point of failure.

[Andre#]

Already 94 bitpay nodes!!
https://www.reddit.com/r/btc/comments/3zzkqg/bitpay_core_v1299_already_at_94_nodes_and_counting/

So now, we have 570 bitcoin XT nodes, 120 Bitcoin Unlimited nodes, 94 bitpay nodes and 5000 bitcoin core nodes. Great.

WTF is a bitpay node? Has bitpay started up its own version of the Bitcoin wallet? What's the differences between bitcoin XT nodes, Bitcoin Unlimited nodes, bitpay nodes, and bitcoin core nodes?

I know XT wants massive blocks if enough people use it, but I don't know what the other two contender wallets want.

Did you enjoy living under a rock for such a long time? 

Anyway, welcome back.

[ChartBuddy]

Coin



Explanation