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

[ChartBuddy]

Coin



Explanation

[ImI]

the price is really low right now and i think that it will have to start rising in the near future, i hope i am right

or it's the beginning of the next bear cycle which would depress a lot of people here.

i am still long, but i am pissed about the lack of professionalism in the development circles. both sides seem to behave like 16yo nerd kiddies.

core has also its immature folks like luke etc

[BlindMayorBitcorn]

worst trolls on side of big blockers ... easy to see who's losing and attracts the agent provocateurs to keep the division raging, sadly they are welcomed into their ranks by the pretenders. Trolfi and notlambchop now honorary members of fraud cypherdoc's goon squad.

Who are they enlisting next to the Free Shit Army ... the Buttcoiner Brigade?

So you're like a less eloquent version of iCEBREAKER now. I liked you better before the war.

[bargainbin]

worst trolls on side of big blockers ... easy to see who's losing and attracts the agent provocateurs to keep the division raging, sadly they are welcomed into their ranks by the pretenders. Trolfi and notlambchop now honorary members of fraud cypherdoc's goon squad.

Who are they enlisting next to the Free Shit Army ... the Buttcoiner Brigade?

So you're like a less eloquent version of iCEBREAKER now. I liked you better before the war. :-

War. What is it good for? Absolutely nothing.
Nations destroyed. Lives ruined. Shoes lost.

[BlindMayorBitcorn]

the price is really low right now and i think that it will have to start rising in the near future, i hope i am right

or it's the beginning of the next bear cycle which would depress a lot of people here.

i am still long, but i am pissed

ImI, in creation where one's nature neither honors nor forgives.
ImI, one say to the other, no man sees my face and lives.

[sAt0sHiFanClub]

[angry stuff goes here...]

Feeling a little strange inside/
A little Dr. Jekyll/
A little Mr. Hyde

Its all just a shadow play

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

I was a little worried that there was a inverted head-and-shoulders pattern on the 2 HR chart, but it obviously failed to complete. I'd actually be surprised if there isn't a LOT of hidden overhead resistance at ~$384 or the top of the 4HR moving average trading band. Of course bulls are so weak (or sneaky) that it hasn't even been tested except once two days ago when it failed.

All in all, I'm pretty comfortable sitting in cash. The Four Punch raid was successful and we will soon likely resume our regularly scheduled dumpage.

[BlindMayorBitcorn]

[angry stuff goes here...]

Feeling a little strange inside/
A little Dr. Jekyll/
A little Mr. Hyde

Its all just a shadow play

I hope you like this next song. This is one of our own, called Tattoo'd Lady.

[ImI]

the price is really low right now and i think that it will have to start rising in the near future, i hope i am right

or it's the beginning of the next bear cycle which would depress a lot of people here.

i am still long, but i am pissed

ImI, in creation where one's nature neither honors nor forgives.
ImI, one say to the other, no man sees my face and lives.

i dont fully understand, but i kinda like it 

[BlindMayorBitcorn]

the price is really low right now and i think that it will have to start rising in the near future, i hope i am right

or it's the beginning of the next bear cycle which would depress a lot of people here.

i am still long, but i am pissed

ImI, in creation where one's nature neither honors nor forgives.
ImI, one say to the other, no man sees my face and lives.

i dont fully understand, but i kinda like it 

Zimmy: https://vimeo.com/86818433 

[ImI]

i like

[paul2000]

bitcoinwisdom: Hash Rate:   1,001,579,640 GH/s

[ChartBuddy]

Coin



Explanation

[Omikifuse]

bitcoinwisdom: Hash Rate:   1,001,579,640 GH/s

new ATH?

[shmadz]

I still look back at the initial transaction message that Satoshi sent with the press release about how badly the credit card industry is destroying us all. The goal first and foremost should be to beat the credit card companies. Using Bitcoin as a currency was never really part of the plan.

Interesting, you mean this initial transaction message?

 "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"

I don't read any mention of credit cards in that message at all... On the contrary, I got the feeling Satoshi was fed up with the fraudulent banking system so he created a new form of money which could not be manipulated by banks, governments, or anyone else for that matter.- - -  payment networks and the fees they charge are small potatoes when compared to the corruption and blatant criminality of the system of fiat money we are dealing with today.

The real innovation here is not a better visa or PayPal network. The important innovation is that we now have a form of money whose creation and control is transparent and auditable - which is a far cry from the money system that we have been saddled with up till now.

[paul2000]

bitcoinwisdom: Hash Rate:   1,001,579,640 GH/s

new ATH?

Looks like it (grey 504 line is at ath)
https://bitcoinwisdom.com/bitcoin/difficulty
now 1,004,549,664 GH/s

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

Innovation is not burning a gigawatt of mining power to process less than 4 transactions per second.  Especially when we could increase that capacity by a factor of eight with almost no additional costs.

In economics, sometimes it's helpful to try and calculate the true cost of something by factoring out the subsidies. In this case the subsidy is the block reward and the cost is paid by investors/speculators.

if users actually paid the full cost of their transaction now, it would be several dollars each. That's a horribly inefficient system and not one worth investing in, IMHO.  The fact that it could potentially be much more efficient if some minor changes were made is irrelevant if there is no process for making those changes.

The governance model needs to change, so until Bitcoin Classic or something like it achieves a clear majority of support by nodes and miners, we have to assume the rough consensus mechanism of a small minority having effective veto power is going to continue, which means nothing is going to get done. Blocks will fill up. Fees will increase. There's really only two outcomes without a higher or removed max block size: stagnation or network congestion failure. 

[jaberwock]

Computer power by its nature will increase very quickly(Moore's law). I would be surprised only if the hash power increases more than the general computer processing power