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

[fisheater22]

I do not want to be rude, or anything, but this is not a religion. There can be no heretics. And if a single person, with a single article can hurt "this much", maybe the system ain't that strong enough after all- yet?

Never understood why would anyone follow a "leader" here, and strangle the kitten of the "other tribe's warchief". This is so stone age, and explains why still no consensus, hint hint.

What are you talking about? This has nothing to do with the system. The system is unharmed and the maths behind it are impenetrable (in the todays world). This is about the sheep of this world and the corrupt media. Most of the media quickly picked up on this as the ultimate truth even though Hearns words have no meaning anymore and are backed by nothing but bias and rage (due to the failure of his project). I'm quite annoyed and tired of this constant nonsense. These people need to be shamed for all eternity.

So Lauda, how much code have you contributed to Bitcoin? How long have you been involved with it?
In short, what makes you the authority on Bitcoin, as opposed to Mike?

[pleaseexplainagain]

any big change in price is not so much due to one person - a hearn or karpeles- or one thing - scaling issues though they be trigger points but simply pumping and then drops.

This is wrong. Have you not been watching the news? This is spreading everywhere like a wildfire.
[/quote]

hearns views have been known for a long time he has just in this latest outpouring written a much better 'selling' of his views. It does not make them any more right or wrong.

I repeat the price to $450 was pumped and all that hearn and/or crypsy or whatever has dome may have triggered something to stop the pumping get accepted by people . But it is a sell off from a pump so it means nothing longer term for bitcoin.

while bitcoin needs to address a range of issues and some fairly soon far as to the current drop in price goes - as the Police would say ....move along.... nothing to see here

[Richy_T]

100% full blocks now. It this the beginning of THE FULLBLOCALYPSE???

We'll be serving hors-d'ouvres and refreshments first. The bar will be open at intermission.

[rolling]

This block thing needs to be solved once and for all now and never addressed again. "The Last Hardfork".

Anything less than that and Bitcoin will fail.

It's this kind of thinking of getting a silver bullet rather than an ongoing  process that gets us in trouble

Bitcoin can't fundamentally change and shouldn't change. There is no real governance, nor should there be. It needs set rules and that's it. The idea that it can change is what's getting us in trouble. Sure, added features that conform to the set rules are fine but things that cause hard forks can't happen anymore. The bigger it gets, the harder its going to be for these changes. It has to be a silver bullet or nothing.

I agree that the block size needs to be on a fixed increase schedule, not a one time jump. I also agree that changes will get more difficult over time, but the only way to get the Chinese miners on board is to crash the market.  Their business model doesn't work and they can't hold the rest of the world hostage with their slow-ass internet connections (that goes for TOR miners too).

100% full blocks now. It this the beginning of THE FULLBLOCALYPSE???

Since we don't know what the future holds, the only logical way to increase block size over time is to re-target like we do with difficulty. Exclude no-fee or micro-fee transactions from the re-target calculation to filter out spam attacks. Done.

[Richy_T]

Cue "It's been an hour and I still don't have a confirmation" threads.

Cripes, if the halvening causes the hashrate to drop, we might see 0 block hours often. I don't think I handle that gracefully.

[Lauda]

The media is corrupt for decades, so why the surprise? It doesn't matter how impenetrable the math is. It did not matter for the people in the age of Galileo either. In practice, only the subjective valuation of the people, which matters. Hm, i think i have just actually proved Your point :-D

I understand that. The problem is that we're lacking the resources to fight back or aren't properly doing so (with our 'own media'). The sheep needs to be pointed to the right direction.

So Lauda, how much code have you contributed to Bitcoin? How long have you been involved with it?
In short, what makes you the authority on Bitcoin, as opposed to Mike?

The amount of my contributions are irrelevant nor would I disclose my contributions; not to you nor anyone else at this moment. I'm not an authority; I'm just someone who's trying to help Bitcoin and certainly not someone who was bought off by banks and backstabbed everyone. Stop defending him, he does not deserve it.

[AZwarel]

This is a must read btw, it is surprising, how much present problems they have foreseen 5 years ago (and how satoshi and the others saying blocksize limit shall be abolished to let the network growth...)
https://bitcointalk.org/index.php?topic=1347.msg15366#msg15366

We can phase in a change later if we get closer to needing it.

IMO it's a marketing thing.  It's tough to get people to buy into a system, if the network is technically incapable of supporting high transaction rates.

Satoshi just said it can be changed, so technically the network is capable.

It is also an incompatible change, as you see.....

No, it's incompatible if just a few people change their behaviour. To roll out a change to the network you need to get most of the clients understanding both the old and the new protocol, and then when you have a majority you turn on the new protocol.

You just described a whole-network upgrade.  I'd call that an incompatible change

The effort to raise the transaction rate limit is the same as the effort to change the fundamental nature of bitcoins:  convince the vast majority to upgrade.

If we upgrade now, we don't have to convince as much people later if the bitcoin economy continues to grow.

I agree, especially since generators are both the source of blocks and "votes" in the network.  Since a block restriction would allow generators to charge higher transaction fees, they might "vote" against an increase in the max size in the future.

It seems unlikely to be a real problem though.

Mind the word of "generators", instead of miners back than!

[ChartBuddy]

Coin



Explanation

[AZwarel]

The media is corrupt for decades, so why the surprise? It doesn't matter how impenetrable the math is. It did not matter for the people in the age of Galileo either. In practice, only the subjective valuation of the people, which matters. Hm, i think i have just actually proved Your point :-D

I understand that. The problem is that we're lacking the resources to fight back or aren't properly doing so (with our 'own media'). The sheep needs to be pointed to the right direction.

Well, yes, the benevolent dictator problem. I slowly get to the conclusion, that the sheep is sheep exactly because it can not think for itself, nor can be reasoned with w/o "authority", hence we do need our own media. Or do not, and that is why we are the innovators/early adopters, and the "sheep" only gets in when he HAS to, not when he WANTS to!

[lottery248]

Coin



Explanation

Mike Hearn would only get bitcoin down for at most 2 days IIRC, if people starts to buy bitcoin again, then the panic is gone.
you know, unless Mike exposed something deadly regarding bitcoin, otherwise it won't have any major affection to bitcoin.

FYI you are now in jelly if you sold your bitcoins at below $400, probably rising up now. second, we are still safe from the bitcoin crash.

[Trolfi]

9 AM in Shanghai and price started picking up.

[Fatman3001]

Stop defending him, he does not deserve it.

"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."

[ssmc2]

*BOIIIINNNNG*

[AZwarel]

Stop defending him, he does not deserve it.

"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."

Fascinating idea! 

[sAt0sHiFanClub]

I do not want to be rude, or anything, but this is not a religion. There can be no heretics. And if a single person, with a single article can hurt "this much", maybe the system ain't that strong enough after all- yet?

Never understood why would anyone follow a "leader" here, and strangle the kitten of the "other tribe's warchief". This is so stone age, and explains why still no consensus, hint hint.

What are you talking about? This has nothing to do with the system. The system is unharmed and the maths behind it are impenetrable (in the todays world). This is about the sheep of this world and the corrupt media. Most of the media quickly picked up on this as the ultimate truth even though Hearns words have no meaning anymore and are backed by nothing but bias and rage (due to the failure of his project). I'm quite annoyed and tired of this constant nonsense. These people need to be shamed for all eternity.

any big change in price is not so much due to one person - a hearn or karpeles- or one thing - scaling issues though they be trigger points but simply pumping and then drops.

This is wrong. Have you not been watching the news? This is spreading everywhere like a wildfire.

And you cannot see how you and your fellow travellers are the architects of all this shit?  I am surprised.

[Fatman3001]

Stop defending him, he does not deserve it.

"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."

Fascinating idea!  

Nicked it from Lauda's profile page

[rolling]

Stop defending him, he does not deserve it.

"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."

Fascinating idea!  

Nicked it from Lauda's profile page

Nice. Added to my signature.

[Lauda]

"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."

Yes, that quote was more of a general principle of how people should live their lives. It does not imply that strong minds never discuss events nor people else that would be a logical fallacy (faulty generalization). You would know that if you paid attention or went to the right classes instead of trying to stab me in the back (if that is the case since people have attempted that in the past; otherwise I apologize for my assumptions). In times like these you have to fight them with their own methods, else you lose. A public shame list would not result in 'weak minds discussing people' which is not what was meant with that quote.
The price seems to have somewhat recovered. Huobi seems to be temporarily closed.
Update:

I'm just pointing out that you are losing your cool. I thought you might want to know that.

I'm not and I've explained why. People seem to misunderstand this quote with a logical fallacy. I'm just getting tired and will not passively stand aside and watch this.

[sAt0sHiFanClub]

"Raise the block size!" they said.

"We have consensus!" they said.

"Market is going to rally around big blocks" they said.

welp  

Your tears are delicious.

I saw you rage tweeting BitFury earlier...     No matter, "socioeconomic consensus" doesn't need miners... amirite?

The tide is turning against the Blockstream takeover. Can't say I didn't try to warn you. 

You've been bootlicking the wrong powers. Bitcoin routes around attempts to steer and control it, about time you learned that. The control you believed they possessed is slipping like sand out of a clenched and mailed fist.

I'm salivating about buying up a piece of Mircea's suicide short this spring. I would try to buy some of your rage dumping too... but your join date probably makes that goal moot.

 



Blockstream Core... #REKT

brg44 is wondering where it all went so wrong. MP said it would be different.

 But, yeah, I got a kick out of his poutrage tweets.  

[cbeast]

Stop defending him, he does not deserve it.

"Strong minds discuss ideas, average minds discuss events, weak minds discuss people."

Fascinating idea!  

Nicked it from Lauda's profile page

Nice. Added to my signature.

It's from Eleanor Roosevelt