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

[Hyperjacked]

BTC has 99 problems and I'm not one of them...

If the core devs don't mesh it could eventually melt down... IMHO 

[noobtrader]

I am predicting a drop to 350 ish fairly soon... then moon within the next 6 months.

patel prediction... wow  right on target    350 reached few hours ago.

im still waiting for moon

[GreekGeek]

So when will the hard fork take place ?

[uqaz]

I am predicting a drop to 350 ish fairly soon... then moon within the next 6 months.

patel prediction... wow  right on target    350 reached few hours ago.

im still waiting for moon

jan 14 + 6 months <> jan15

[ChartBuddy]

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Explanation

[mOgliE]

The run-up from 360 to 380 looked somewhat weird, have a feeling its not going to last that long and 350 will be retested again. Just seems way to easy for now.

You may be right. The down trend had some facts to back it up. No reason to see it stop quick. Just wait for a few days we'll reach 350 then, and we'll buy everything we can!

[Karartma1]

The run-up from 360 to 380 looked somewhat weird, have a feeling its not going to last that long and 350 will be retested again. Just seems way to easy for now.

Got the same impression here but looking closely my feeling is we could breach 400$ soon. No peace for the wicked as they say in English 

[ChartBuddy]

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Explanation

[Proxiebuier]

The run-up from 360 to 380 looked somewhat weird, have a feeling its not going to last that long and 350 will be retested again. Just seems way to easy for now.

i think we will comeback to $390 again like the highest price in this day 

[JorgeStolfi]

Hearn will be like a ticking time-bomb waiting to go off at R3C ... he's bitcoin's biggest asset right now. Can you imagine that arrogant little snipe not getting his way inside a corporate IT project, just waiting to slip the knife in or totally blow-up the project in a PR nightmare intended to destroy its credibility??

From his LinkedIn profile: "senior software engineer and tech lead at Google, where I worked for about 7.5 years on Maps/Earth, Gmail anti spam, signup abuse and login security"

From Gavin's profile: "Software Engineer - Silicon Graphics (SGI) 1988 – 1996 (8 years)"

By a strange coincidence, Gavin and Mike seem to be the only core devs with significant *professional*  software development experience...

I'd like to know a lot more about how the NYTimes journalist, Nathaniel Popper who wrote the Digital Gold fiction, was able to time the release of his Hearn hit piece exactly for R3C's benefit at the washington hearing?

Why do you think that there was any particular interest for R3 to do so?

There is some poetic justice in the price tanking because of Mike's rage-quit and the block size war.  There would have been no war and no rage-quit, if some segment of the community had not sided with Blockstream out of stupid greed -- because they imagined that Blockstream's plan would make the price of bitcoin go up, even though it meant giving up the very goal that motivated Satoshi to create it,and the only thing that justifies its existence.

[Richy_T]

It's some pretty cold turkey. 

That's England, not Turkey.

[hdbuck]

...
There is some poetic justice in the price tanking because of Mike's rage-quit and the block size war.  There would have been no war and no rage-quit, if some segment of the community had not sided with Blockstream out of stupid greed -- because they imagined that Blockstream's plan would make the price of bitcoin go up, even though it meant giving up the very goal that motivated Satoshi to create it,and the only thing that justifies its existence.

Who cares about blockstream? And get we get pass this satoshi appeal to autority now? unless you are satoshi maybe?

As iCEBREAKER observed, Your big statist lie is that "Bitcoin was created to replace commercial banking, not central banking (as if the Genesis Text was about $2 ATM fees instead of TBTF bailouts)."

There is no ph0rk forthcoming, only desperate inflative reddit minions leapfrogging from ph0rk to ph0rk.

[ChartBuddy]

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Explanation

[abercrombie]

Is Bitcoin Breaking Up?

By PAUL VIGNA
Jan. 17, 2016 10:28 a.m. ET

A prominent bitcoin developer has labeled the currency a failed experiment, widening the rift over an arcane but critical technical issue that has divided the community for nearly a year.

“The fundamentals are broken, and whatever happens to the price in the short term, the long-term trend should probably be downwards,” developer Mike Hearn wrote on the blogging platform Medium. “I will no longer be taking part in bitcoin development...

http://www.wsj.com/articles/is-bitcoin-breaking-up-1453044493

[sAt0sHiFanClub]

Who cares about blockstream?

God Lord, Now they are throwing blockstream under the bus!!  Bite the hand that feeds much?   

[r0ach]

And if Satoshi's warning is true that in case of a successful fork he'll be forced to declare Bitcoin a failure (I would probably disassociate my name as well after a hostile takeover and admit defeat) then we have a real problem ahead of us.

This is completely false and a misinterpretation even of the fake Satoshi post.  You're typing flat out propaganda.

The longest chain wins, and if the 2MB fork has something like 80%+ hash power, it is by definition YOU that are the hostile fork because you're in the minority of consensus, while the 2MB is the real chain.  Having access to a github repo does not make you dictator of Bitcoin.  Anyone is allowed to code up whatever changes they want and have miners vote for it.  If they could not do this, Bitcoin would be centralized and worth 0.

You can type a million words, but all posts by you people can be summarized as "I believe 4 people with access to a certain github should be dictators of Bitcoin".  Sorry, but no, that would make Bitcoin worth nothing if that was the case.  World governments would LOVE centralized development as well.  They would just take someone like Luke Jr and

A)  Give him a large check or BFL miner to bribe him.  

or

B) Beat the hell out of him till he does whatever they want or threaten to magically "discover" he's the new Silk Road mastermind.

Since pools come and go, centralized development is an even bigger attack vector than the pools are.

[ChartBuddy]

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Explanation

[fisheater22]

Once there was a way to get back homeward
Once there was a way to get back home
Sleep pretty darling do not cry
And I will sing a lullaby

[Trolfi]

There is some poetic justice in the price tanking because of Mike's rage-quit and the block size war.  There would have been no war and no rage-quit, if some segment of the community had not sided with Blockstream out of stupid greed -- because they imagined that Blockstream's plan would make the price of bitcoin go up, even though it meant giving up the very goal that motivated Satoshi to create it,and the only thing that justifies its existence.

NEWSFLASH: JS admits Bitcoin's existence is justified. Deep, informed discussion of strengths and weaknesses in the ecosystem proceeds unabated.

Fintech revolution is on.

P.S.

[AlexGR]

And if Satoshi's warning is true that in case of a successful fork he'll be forced to declare Bitcoin a failure (I would probably disassociate my name as well after a hostile takeover and admit defeat) then we have a real problem ahead of us.

This is completely false and a misinterpretation even of the fake Satoshi post.  You're typing flat out propaganda.

You are stating assumptions as facts and assumption is the mother of all fuckups. You do not know whether it is fake or real and therefore ignore serious risks involved.

The longest chain wins

That's more about the technicalities of a normal fork-split situation rather than a social-engineered takeover attempt.

You can type a million words, but all posts by you people can be summarized as "I believe 4 people with access to a certain github should be dictators of Bitcoin".

You can summarize it as follows: I believe the future of bitcoin is in better hands with the core devs. They've done a good job over the years and the alternative is not attractive.

There is nothing that makes me believe that "classic" is better in any way than core.

Classic lacks manpower and proven ability to maintain and evolve bitcoin, plus their motives and strategies are suspect because they are not based on technically sound arguments. Additionally they are not presenting any scaling solution (unlike the core people), rather they are just tampering a constant with known restrictions and compromises which gets us nowhere in the long run. Plus they are ruthless in the way they are trying their power grab, even by destroying confidence and creating two separate currencies - which, as a precedent, is dangerous for any future point of disagreement. It's a power grab, camouflaged as a block size upgrade under a false pretext of urgency.

I don't like any of this shit and I don't trust them at all.