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

[sAt0sHiFanClub]

You suggest that the chain with 25% hash power is in the economic minority which is just flatly inaccurate. The sunk costs in previous generations of ASICs aren't worth much more than a doorstop with a flood of new money buying the latest generation of ASICs. 75% of Miners are not necessarily the economic majority. What is interesting about this attack is even if 95%+miners temporarily support the new coin (I.E.. Bitcoin classic) and every exchange supports bitcoin classic and refuses to accept bitcoin core coins, the attack can come unannounced as the ASIC manufactures can have a shell company or investors buy them out and use their own coin to simultaneously dump the price and gain a majority of the hashpower. To those that oppose a coup, they wouldn't even see this as underhanded but protecting the interests of the ecosystem and increasing the hash power.

Sorry, I respect your beliefs and all, but that is just getting plain ridiculous, desperate and implausible.
 Have a look at this and you will see there is nearly 90% consensus for 2mb blocks at this moment. Add to that all the exchanges that have stated they will follow the majority ( not a given that its classic)

You have an extremely difficult battle with just 10% of hashing power and sky high difficulty. And for what? What will you gain with your shell companies and other whatnots you mentioned?

When it comes to it, you, and all the others will be as pragmatic as anyone else in the network. You will protect the value of your coins. You will fork.

Because its in your interest*.






*unless you are an investor in Blockstream

[Fatman3001]

Try to stop this train!!!!



I dare you!!!

[BlindMayorBitcorn]

Anybody savvy to those decentralized prediction markets? Who's the odds-on favourite in this nerd war of ours?

[ImI]

Why are we still discussing Classic like it's not a failed project already?

Didn't you get the news?

i didnt get the news. where to find it?

[JayJuanGee]

I am tired of all that shit. I quit Bitcoin until the next ATH.

Good for you, and bad for us.... hahahahaha  

We gotta put up with more fake quitting drama........ and fewer coins for us.  

Haha, shame the price won't go up 10% after this nobody quits bitcoin

Dude, you should show more respect to people more wealthy and clever than you.

We shouldn't be doing status (respect?) trips on the interwebs.... Instead, post some substance regarding BTC, and then we will consider your thoughts.

If you are going to quit BTC, then no problem with that kind of choice, especially since you are choosing for yourself and your own risk tolerances and diversification, if any; however, what would be the reason for you to publicly announce such supposed quitting, unless you are some kind of attention whore or you really don't  mean what you say.... and accordingly, you are just playing the quitting threat card for its trolling effect.

[BldSwtTrs]

Remember guys:

Let's see how the recovery unfolds, if any. It might bring back the memories of the arrest of Ross Ulbritch to the market if a steady rise ensues.

[brg444]

Why are we still discussing Classic like it's not a failed project already?

Didn't you get the news?

i didnt get the news. where to find it?

Here: https://botbot.me/freenode/bitcoin-core-dev/2016-01-20/?msg=58304091&page=2

[ImI]

Why are we still discussing Classic like it's not a failed project already?

Didn't you get the news?

i didnt get the news. where to find it?

Here: https://botbot.me/freenode/bitcoin-core-dev/2016-01-20/?msg=58304091&page=2

thx

[billyjoeallen]

Crash, bounce, pause, spike....

It's a four punch raid. wait for the shorters to get squeezed and then short like crazy.

Be careful about the second bounce.

[BitUsher]

Sorry, I respect your beliefs and all, but that is just getting plain ridiculous, desperate and implausible.
 Have a look at this [/url] and you will see there is nearly 90% consensus for 2mb blocks at this moment. Add to that all the exchanges that have stated they will follow the majority ( not a given that its classic)

Now you are creating a false dichotomy and insinuating a capacity difference between core and classic when they are both ~2MB. Are you also ignoring the deals being made between core and miners right now for April 2MB segwit + 2 Mb hardfork (for an effective 4MB capacity) in Feb/march 17?

Let me make it clear that it isn't a threat and that attack and others ones I discussed aren't likely .... but specifically for the reason the miners aren't idiots and want to have the support of core and their valuable contributions.  

Statements of support to leverage power and hedge bets doesn't mean any of the miners will follow through either. Since Classic really isn't offering any distinct technical differences besides being less , it is clearly a political coup.... and with politics many businesses will court both sides which we see here.

Lets wait and see them start to mine those blocks in march.

[BldSwtTrs]

I am tired of all that shit. I quit Bitcoin until the next ATH.

Good for you, and bad for us.... hahahahaha  

We gotta put up with more fake quitting drama........ and fewer coins for us.  

Haha, shame the price won't go up 10% after this nobody quits bitcoin

Dude, you should show more respect to people more wealthy and clever than you.

We shouldn't be doing status trips on the interwebs.... Instead, post some substance, and then we will consider your thoughts.

If you are going to quit, then no problem with that; however, what would be the reason to publicly announce it, unless you are some kind of attention whore or you really don't  mean it.... and you are just playing it for its trolling effect.

I posted on the Wall Observer, I didn't even create a thread. And to post somewhere help to consolidate the decision through social pressure even it it didn't work out this time (the first 24 hours are the hardest when quitting an habit).

[Fatman3001]

Remember guys:

Let's see how the recovery unfolds, if any. It might bring back the memories of the arrest of Ross Ulbritch to the market if a steady rise ensues.

Don't tease...

[orpington]

Goodbye ClasSickCoin and good riddance. Oh and btw, say hi to XT! 

[600watt]

lol, i couldn´t fall asleep, got up, thinking about to roll one up.

hesitated.

checked the charts.

420. i guess i got the message.

 


good night fellas...

[Fatman3001]

CHOO CHOO!!!

[Morecoin Freeman]

I am doubting myself for being bearish but at the same time this pump does not make too much sense.
I feel like this should dump back down. What am I missing here?

[smooth]

the economic majority on the chain with less hash power

If you are on the weak/shorter chain, you are already the economic minority. You can convince yourself otherwise - that big bags of coins will redress the imbalance - but it wont. Only deliberate fraud and criminal actions will delay the inevitable - and I'm sure you are not really proposing that.

This is pretty much right, except that you can't entirely determine which chain that will be until after the fact. During some unspecified time horizon there may be ambiguity.

People are all entitled to their beliefs about which path forward is the best or will actually happen, but talk is cheap. Only real trades matter.

[BitUsher]

I am doubting myself for being bearish but at the same time this pump does not make too much sense.
I feel like this should dump back down. What am I missing here?

Take a look at the Stock markets today and the price of oil. Bitcoin is becoming the new "gold" where investors park their assets in times of economic uncertainty and a hedge against the other investments.  

the economic majority on the chain with less hash power

If you are on the weak/shorter chain, you are already the economic minority. You can convince yourself otherwise - that big bags of coins will redress the imbalance - but it wont. Only deliberate fraud and criminal actions will delay the inevitable - and I'm sure you are not really proposing that.

This is pretty much right, except that you can't entirely determine which chain that will be until after the fact. During some unspecified time horizon there may be ambiguity.

People are all entitled to their beliefs about which path forward is the best or will actually happen, but talk is cheap. Only real trades matter.

Mostly agreed , the discussed attack is best served during the transition and quickly after the fork occurs. which is precisely why contentious hard forks should have 95% of miner support to insure this isn't a possibility.

[Fatman3001]

I am doubting myself for being bearish but at the same time this pump does not make too much sense.
I feel like this should dump back down. What am I missing here?

The last time I saw you talking like that we hit $500.

[soullyG]