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

[BlindMayorBitcorn]

what happened to the coffee-gasms you used squirt all over the WO thread?

It seemed to piss too many people off so I didn't bother any more.

It was usually all about trying to stay awake when we were going sideways so often people posted GIFs of tumbleweeds.

Coffee is just a crack-of-noon wakeup drink for me anyway. After happy hour it's strictly booze, preferably Guinness Extra Stout.

Hey Jimbo, Any thoughts on how long we'll move sideways now? Also would you care to comment and throw in a few bits regarding core/blocksize/bitpay/coinbase current loggerjam/loggerhead? not sure which its supposed to be with regards to above term lol. Thanks.

I'm curious as well. I can't help but notice he's yet to appreciate Blockstream.

Very suspicious.

[JayJuanGee]

After price rises 10% and retraces 3% the bears will be back.

i haven't gone anywhere.. as a matter of fact, i am helpin keep this biatch levitated.. they can't go down or people like me will buy coins we sold before at a profit cheaper than we sold ... if they go up then people like me gain fiat value for their stash (fiat value doesnt mean much since the usd is dying anyways) .. they can go sideways, but i, personally, will easily outlast that shiat ... thats why i am always in here talking trash..cuz..it dont matter which way .. THEY CAN'T PUNISH ME .. obviously.... i talking trash even as the value of my cold storage holdings is increasing.

Your comment really has nothing to do concerning whether you are a bear or a bull.

If you are holding both fiat and btc, then it is just a matter of whether you have sufficiently allocated for your point of view regarding the probable direction of the price.

You can talk all the trash that you like, but other people, whether bears or bulls are also engaged in various strategies that they perceive are good for their own financial position.. and some positions are more profitable than others, and surely time will tell us, as well who made better bets to the extent that they have invested where their mouth is.

[JayJuanGee]

^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.

hahahahaha


I guess it's good to see you to chime in because no one can really sub for your broken record... like you.       

[ChartBuddy]

Coin



Explanation

[Dotto]

[Fatman3001]

https://www.youtube.com/watch?v=7Vo-rF5Wx6s

[600watt]

2016 is the new two-thousandthirteen.                                     

[inca]

Up up and away.

The next retest of 500 is going to be epic.

[ChartBuddy]

Coin



Explanation

[ssmc2]

6 0 0

soon

[ImI]

634

[marcus_of_augustus]

Well gentlemand is a hero and he doesn't know what a bitpay node is, and I'm only senior. Fortuitously Fatman3001 read an explanation by brg444 who said they want kill all the firstborn. Gentlemand came to the conclusion that bitpay is coming to his shack to strangle his kitten, so it must be an evil node.

Can you add to our knowledge about WTF a bitay node is?

Ok then.

"A Simple, Adaptive Block Size Limit"


https://medium.com/@spair/a-simple-adaptive-block-size-limit-748f7cbcfb75#.7m37712tl

Stephen Pair should stick to blowing untold millions and running start-ups off the cliff at the end of the runway.

[fichtn12345]

6 0 0

soon

634

666

[Cconvert2G36]

Well gentlemand is a hero and he doesn't know what a bitpay node is, and I'm only senior. Fortuitously Fatman3001 read an explanation by brg444 who said they want kill all the firstborn. Gentlemand came to the conclusion that bitpay is coming to his shack to strangle his kitten, so it must be an evil node.

Can you add to our knowledge about WTF a bitay node is?

Ok then.

"A Simple, Adaptive Block Size Limit"


https://medium.com/@spair/a-simple-adaptive-block-size-limit-748f7cbcfb75#.7m37712tl

Stephen Pair should stick to blowing untold millions and running start-ups off the cliff at the end of the runway.

Nice analogy.

BTW... do you have any insight on how Blockstream might earn back the $21 million bestowed upon them by Reid Hoffman, Khosla Ventures and Real Ventures, with investments from Nicolas Berggruen, Crypto Currency Partners, Future\Perfect Ventures, Danny Hillis, Eric Schmidt’s Innovation Endeavors, Max Levchin, Mosaic Ventures, Ray Ozzie, Ribbit Capital, Jerry Yang’s AME Cloud Ventures and several others?

[JimboToronto]

what happened to the coffee-gasms you used squirt all over the WO thread?

It seemed to piss too many people off so I didn't bother any more.

It was usually all about trying to stay awake when we were going sideways so often people posted GIFs of tumbleweeds.

Coffee is just a crack-of-noon wakeup drink for me anyway. After happy hour it's strictly booze, preferably Guinness Extra Stout.

Hey Jimbo, Any thoughts on how long we'll move sideways now? Also would you care to comment and throw in a few bits regarding core/blocksize/bitpay/coinbase current loggerjam/loggerhead? not sure which its supposed to be with regards to above term lol. Thanks.

I'm curious as well. I can't help but notice he's yet to appreciate Blockstream.

Very suspicious.

I've consciously tried to abstain from the blocksize debate. I don't do coding myself (not since Microsoft Basic on a TRS-80  ) so I have to place my trust in the worldwide Bitcoin "community" to police the open-source code. When I delegate, I try not to interfere.

That said, I see the need for larger blocks with time. I also see people with a political agenda trying to use the debate for their own purposes. I'll leave politics to the politicians.  

Blockstream? I don't follow it too closely but I know it's a sidechain technology, as is Ethereum which I don't follow that closely either, although I did attend a meetup just before the launch in which Vitalik Buterin spoke and outlined the advantages of decentralized contracts. Blockchain 2.0 obviously holds great promise but I don't see it as competing with Bitcoin, which has achieved critical mass ahead of any altcoins.

As for how long we'll go sideways this time, my guess is probably for a few days although being the weekend, anything can happen.

[marcus_of_augustus]

Well gentlemand is a hero and he doesn't know what a bitpay node is, and I'm only senior. Fortuitously Fatman3001 read an explanation by brg444 who said they want kill all the firstborn. Gentlemand came to the conclusion that bitpay is coming to his shack to strangle his kitten, so it must be an evil node.

Can you add to our knowledge about WTF a bitay node is?

Ok then.

"A Simple, Adaptive Block Size Limit"


https://medium.com/@spair/a-simple-adaptive-block-size-limit-748f7cbcfb75#.7m37712tl

Stephen Pair should stick to blowing untold millions and running start-ups off the cliff at the end of the runway.

Nice analogy.

BTW... do you have any insight on how Blockstream might earn back the $21 million bestowed upon them by Reid Hoffman, Khosla Ventures and Real Ventures, with investments from Nicolas Berggruen, Crypto Currency Partners, Future\Perfect Ventures, Danny Hillis, Eric Schmidt’s Innovation Endeavors, Max Levchin, Mosaic Ventures, Ray Ozzie, Ribbit Capital, Jerry Yang’s AME Cloud Ventures and several others?

My "insight" is as per all the released materials and statements by the Blockstream founders, the funding for Blockstream is basically to "keep doing what you are doing", build out the infrastructure and eventually a long term payback will inevitably arise by having all the best guys producing all the best ideas in the space. In the same way Mozilla foundation eventually profited from their browser search box ($300 million per annum from google for the default search  engine setting), Blockstream is expected to create something in the long term (next 5-10 years) that will inevitably be monetised ... in the meantime, all those investors you mention are helping to secure good people working on core 'unsexy' bitcoin infrastrucure, who were otherwise unpaid volunteers, and that will also future-proof their numerous other non-Blockstream investments in the space.

I'm sure you know all this and it is about the umpteenth time I've had to explain it to the usual trolls but today I'm feeling generous, so you should bookmark this answer for the hundred other times you will beg this question in the various forums.

[Fatman3001]

...but I know it's a sidechain technology, as is Ethereum...

When did this happen?

Link?

[Terwa]

6 0 0

soon

634

666

999 ?

[Terwa]

I know it's a sidechain technology, as is Ethereum

Litecoin and Dash and working on it too

[Cconvert2G36]

Well gentlemand is a hero and he doesn't know what a bitpay node is, and I'm only senior. Fortuitously Fatman3001 read an explanation by brg444 who said they want kill all the firstborn. Gentlemand came to the conclusion that bitpay is coming to his shack to strangle his kitten, so it must be an evil node.

Can you add to our knowledge about WTF a bitay node is?

Ok then.

"A Simple, Adaptive Block Size Limit"


https://medium.com/@spair/a-simple-adaptive-block-size-limit-748f7cbcfb75#.7m37712tl

Stephen Pair should stick to blowing untold millions and running start-ups off the cliff at the end of the runway.

Nice analogy.

BTW... do you have any insight on how Blockstream might earn back the $21 million bestowed upon them by Reid Hoffman, Khosla Ventures and Real Ventures, with investments from Nicolas Berggruen, Crypto Currency Partners, Future\Perfect Ventures, Danny Hillis, Eric Schmidt’s Innovation Endeavors, Max Levchin, Mosaic Ventures, Ray Ozzie, Ribbit Capital, Jerry Yang’s AME Cloud Ventures and several others?

My "insight" is as per all the released materials and statements by the Blockstream founders, the funding for Blockstream is basically to "keep doing what you are doing", build out the infrastructure and eventually a long term payback will inevitably arise by having all the best guys producing all the best ideas in the space. In the same way Mozilla foundation eventually profited from their browser search box ($300 million per annum from google for the default search  engine setting), Blockstream is expected to create something in the long term (next 5-10 years) that will inevitably be monetised ... in the meantime, all those investors you mention are helping to secure good people working on core 'unsexy' bitcoin infrastrucure, who were otherwise unpaid volunteers, and that will also future-proof their numerous other non-Blockstream investments in the space.

I'm sure you know all this and it is about the umpteenth time I've had to explain it to the usual trolls but today I'm feeling generous, so you should bookmark this answer for the hundred other times you will beg this question in the various forums.

Phew, I'm now reassured knowing Eric Schmidt has implored his team to work diligently on making Bitcoin Core the best it can be over the next decade, then we'll talk money...

I should have just read the tag line.