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

[Chef Ramsay]

What is ?

This made my day, thank you. He's holding out for a management position don't ya know! I just wish there was another movie after the fact.

[ChartBuddy]

Coin



Explanation

[ChartBuddy]

Coin



Explanation

[rebuilder]

Our gracious politburo has deemed this information unfit for your consumption.

https://archive.is/UsUH3

Summarily deleted.

What was that, then?

[ChartBuddy]

Coin



Explanation

[Andre#]

Bitcoin Classic seeks 75% miner adoption. That eases my nerves a little bit, if they get >75% than we wont have two competing forks, which is a good thing.

If they get < 75% then we won't have a fork to begin with. So it's either no fork, or no competing fork. Which is a good thing.

[ChartBuddy]

Coin



Explanation

[hdbuck]

Thought I'd lost all the bitcoin's I have stored in Core. Balance reset to 0, thought my life was over

Dont worry, Core are busy working on new and exiting features that will take your balance to zero, without the inconvenience of hanging your PC.

I officially now hate you - for making me laugh when I should not.

*kisses*

[Karartma1]

No offence but this small dump was clearly just behind the corner, I'm not going to trade in the next days I see a lot of nerves going on in the market.
I'll just hold on to my stash for a while.

[iCEBREAKER]

Man I go away for a few hours and come back and there is a meltdown... 

Obviously, the market is thrilled to hear the Gavinistas have regrouped and renewed their attempts to catalyze a contentious hardfork and governance coup.

Perhaps Hearn's Bankster Consortium wants to extend the Grand Schism in order to suppress the price, while they gobble up all the cheap pre-ETF coins possible.

Another Civil War, another giant red candle.  Yawn.

Wake me up when Coinbase decides WTF they'll do when Gavincoins are suddenly being actively deposited/traded/withdrawn, alongside the usual Bitcoins.

Their God damn pointed-headed CEO won't list LTC, but makes vague noises about supporting customers' desire to hardfork missile crisis?

I may have to make a Coinbase account, for the sole purpose of fucking them to death in the event of an actual opportunity to short Gavincoins.   

[Andre#]

In the end of the day there is an equilibrium between the available transaction space, the fees paid, the abuse the network gets and the willingness of miners to mine transactions. And this equilibrium will not get any better (in favor of scaling) if either

a) the software itself doesn't gets better in terms of using storage, processing and network resources
b) the resources themselves aren't upgraded to cope, as technology improves

The equilibrium of fees paid and the willingness of miners to mine transactions should be allowed to find itself. The network abuse should be limited by the max block size (as it has done so from the moment is was introduced). The max block size should NOT be used to throttle the market by introducing artificial scarcity of transaction capacity.

The fee equilibrium will come. At the end of the day. Clearly with a block subsidy of 25 BTC, we're not there, yet.

[iCEBREAKER]

it's the chicken game of Bitcoin.

It's Chicken Little running around squawking about the sky falling if the blocksize isn't raised and theymos+blockstream+MP are exiled to Ascension Island, while Honey Badger takes a nice little nap.

[ChartBuddy]

Coin



Explanation

[Fatman3001]

Thought I'd lost all the bitcoin's I have stored in Core. Balance reset to 0, thought my life was over

Dont worry, Core are busy working on new and exiting features that will take your balance to zero, without the inconvenience of hanging your PC.

I officially now hate you - for making me laugh when I should not.

*kisses*

I'm scared

Stop whining, you'll upset iCEBREAKER.

[sAt0sHiFanClub]

The only people who can seriously do development and maintenance work are core devs.

I think you will find, with open source projects, that is a false assertion.

Any attempt to subvert that process will ultimately fail.

[sAt0sHiFanClub]

it's the chicken game of Bitcoin.

It's Chicken Little running around squawking about the sky falling

Speaking of chicken, what happened to your National Front logo?

[ChartBuddy]

Coin



Explanation

[oda.krell]

In the end of the day there is an equilibrium between the available transaction space, the fees paid, the abuse the network gets and the willingness of miners to mine transactions. And this equilibrium will not get any better (in favor of scaling) if either

a) the software itself doesn't gets better in terms of using storage, processing and network resources
b) the resources themselves aren't upgraded to cope, as technology improves

The equilibrium of fees paid and the willingness of miners to mine transactions should be allowed to find itself. The network abuse should be limited by the max block size (as it has done so from the moment is was introduced). The max block size should NOT be used to throttle the market by introducing artificial scarcity of transaction capacity.

The fee equilibrium will come. At the end of the day. Clearly with a block subsidy of 25 BTC, we're not there, yet.

Great point, omitted way too often in the current debate. Claiming we need to probe (or even: establish) a "fee market" at the moment, while there's still a huge block reward, is like two kids trying to play on a seesaw while there's an elephant sitting on one end.


In other news: Interesting times.

$400 test looking rather likely, agreed? Bullish crossover failure (USD exchanges) or whipsaw (CNY) on daily MACD looks rather bearish, but might end in a bull. div in a few days, i.e. at a LL of $400 or slightly below.

[iCEBREAKER]

From the RAND corporation virtual currency report:

"The report suggests that the U.S. Department of Defense should disrupt decentralized digital currencies to prevent “unprecedented global access to information and communication services that, at its core, is agnostic to the national security interests of the United States.”

Therefore, the RAND report suggests pre-emptive strikes and notes that “perhaps the best strategy for the United States and its allies to thwart a VC deployment would be to target those properties of a VC that would most increase its acceptance, most notably transaction anonymity, security, and availability.”

Link:

https://www.reddit.com/r/Bitcoin/comments/40lwsq/the_rand_corporation_report_national_security/

Hearn@sigint.google.mil is on the job.  That's why Galvin is busy juggling multiple attempts to embrace/extend/extinguish Bitcoin.

[iCEBREAKER]

it's the chicken game of Bitcoin.

It's Chicken Little running around squawking about the sky falling

Speaking of chicken, what happened to your National Front logo?

The election is over.  Don't you read the news?