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

[Tzupy]

...
Why am I the only one apparently concerned by this? Everybody cool with Chinese government's hand on the kill switch?

I am not concerned with this at all... Should provide a massive shorting opportunity. 

[hdbuck]

https://www.technologyreview.com/s/600781/technical-roadblock-might-shatter-bitcoin-dreams/

OMIGOD. Why wasn't I informed of this? I want Blockstream on the line right now for me refund.

"There is general agreement in the Bitcoin community that the system must remain decentralized to prevent the possibility of any company or government controlling the currency."

So we decentralize by putting three quarters of our mines in one government's jurisdiction?  

Why am I the only one apparently concerned by this? Everybody cool with Chinese government's hand on the kill switch?

who care about some government shutting down mining farms?

it will provide great opportunity for the rest of the miners and newcomers.

bitcoin is the government plague. too late for them to do anything about it.

PS: fuck the MIT, and fuck Gavin.

[marcus_of_augustus]

https://www.technologyreview.com/s/600781/technical-roadblock-might-shatter-bitcoin-dreams/

OMIGOD. Why wasn't I informed of this? I want Blockstream on the line right now for me refund.

"There is general agreement in the Bitcoin community that the system must remain decentralized to prevent the possibility of any company or government controlling the currency."

So we decentralize by putting three quarters of our mines in one government's jurisdiction? 

Why am I the only one apparently concerned by this? Everybody cool with Chinese government's hand on the kill switch?

... at which point a HF does become necessary and a new POW algorithm will be adopted, something more centralising-resistant.

[BlindMayorBitcorn]

That does not compute.

Advancements in asics does not equal higher value.

Silly fat man. New chip deployment = mewn... k?

Meanwhile...



Come on in panicking global economy! The mempool's fine!

[adamstgBit]

-Governments shutting down mining farms
-Chinese government's hand on the kill switch
-Gavin is likely working with them
-extremely severe bug found


did I forget to mention a new piece of FUD that the market obviously doesn't give a shit about?

[BlindMayorBitcorn]

-Governments shutting down mining farms
-Chinese government's hand on the kill switch
-Gavin is likely working with them
-extremely severe bug found


did I forget to mention a new piece of FUD that the market obviously doesn't give a shit about?

-pool's closed

[JimboToronto]

...
Why am I the only one apparently concerned by this? Everybody cool with Chinese government's hand on the kill switch?

I am not concerned with this at all... Should provide a massive shorting opportunity. 

Me neither. If the Chinese miners were all shut down, difficulty would plummet. Would that make my old BFL miner not obsolete anymore?  

[pleaseexplainagain]

https://www.technologyreview.com/s/600781/technical-roadblock-might-shatter-bitcoin-dreams/

OMIGOD. Why wasn't I informed of this? I want Blockstream on the line right now for me refund.

"There is general agreement in the Bitcoin community that the system must remain decentralized to prevent the possibility of any company or government controlling the currency."

So we decentralize by putting three quarters of our mines in one government's jurisdiction? 

Why am I the only one apparently concerned by this? Everybody cool with Chinese government's hand on the kill switch?

you are not the only one. I am also concerned. I like bitcoin and its still has many uses (eg buying, transmiting it and the new owner cashing out as the price of bitcoin is effectively irrelevant ) But what it has finished with chinese control is any hope of bitcoin being a store of value. Not sure what that means for more adoption by newcomers but it can only to me mean far fewer and many cureent holders reducing their holdings over time.

[Gyrsur]

-Governments shutting down mining farms
-Chinese government's hand on the kill switch
-Gavin is likely working with them
-extremely severe bug found


did I forget to mention a new piece of FUD that the market obviously doesn't give a shit about?

-pool's closed

satoshi starts to sell his coins  

[marcus_of_augustus]

-Governments shutting down mining farms
-Chinese government's hand on the kill switch
-Gavin is likely working with them
-extremely severe bug found


did I forget to mention a new piece of FUD that the market obviously doesn't give a shit about?

paedophiles, everywhere you look paedophiles

[BlindMayorBitcorn]

anyone else feeling increasingly bullish?

Ummm, no... How about this?
https://www.reddit.com/r/Bitcoin/comments/46354z/most_bitcoin_clients_affected_by_glibc_dns/

just looking at the reddit post   I'm banned form contributing there, otherwise id post this link below ( u/nullc calling it fud not a BTC problem and avoiding a patch.)

it looks like a patch is workable until your not OS is updated. so no big deal.
https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-345#post-12316

Am I the only one that needs to use a VPN to access this for.um?

[adamstgBit]

anyone else feeling increasingly bullish?

Ummm, no... How about this?
https://www.reddit.com/r/Bitcoin/comments/46354z/most_bitcoin_clients_affected_by_glibc_dns/

just looking at the reddit post   I'm banned form contributing there, otherwise id post this link below ( u/nullc calling it fud not a BTC problem and avoiding a patch.)

it looks like a patch is workable until your not OS is updated. so no big deal.
https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-345#post-12316

Am I the only one that needs to use a VPN to access this for.um?

no there are 3 other poeple in your country that have to do the same thing.

no wait that's 3 poeple including you.

[BlindMayorBitcorn]

^Odd.

-Governments shutting down mining farms
-Chinese government's hand on the kill switch
-Gavin is likely working with them
-extremely severe bug found


did I forget to mention a new piece of FUD that the market obviously doesn't give a shit about?

paedophiles, everywhere you look paedophiles

They liked adults before they were adults.

[cr7]

-Governments shutting down mining farms
-Chinese government's hand on the kill switch
-Gavin is likely working with them
-extremely severe bug found


did I forget to mention a new piece of FUD that the market obviously doesn't give a shit about?

Quantum computers will appear tomorrow and mine all Bitcoins, including the already mined

[billyjoeallen]

https://www.technologyreview.com/s/600781/technical-roadblock-might-shatter-bitcoin-dreams/

OMIGOD. Why wasn't I informed of this? I want Blockstream on the line right now for me refund.

"There is general agreement in the Bitcoin community that the system must remain decentralized to prevent the possibility of any company or government controlling the currency."

So we decentralize by putting three quarters of our mines in one government's jurisdiction?  

Why am I the only one apparently concerned by this? Everybody cool with Chinese government's hand on the kill switch?

who care about some government shutting down mining farms?

it will provide great opportunity for the rest of the miners and newcomers.

bitcoin is the government plague. too late for them to do anything about it.

PS: fuck the MIT, and fuck Gavin.

What if they don't shut them down? What if they just take them over? What give's Bitcoin it's security, stability and advantage over altcoins is the massive mining infrastructure. If we had to start over, we may never recover. 

You couldn't fork away from China without also making every SHA256 ASIC on the network useless. It's an open protocol so the ChiComs could just point to any new fork and instantly be able to mount another 51% attack.  That means we wouldn't just lose the Chinese Mines. We would lose all the mines. 

This is an even bigger problem than Block Size, IMHO.  Whoever controls the mines controls Bitcoin.

[criptix]

billy how's your short going?

#rekt

sorry i kinda had to do it - but i think if you hold on a bit more then maybe...

[gentlemand]

you are not the only one. I am also concerned. I like bitcoin and its still has many uses (eg buying, transmiting it and the new owner cashing out as the price of bitcoin is effectively irrelevant ) But what it has finished with chinese control is any hope of bitcoin being a store of value.

Store of value is one of the very few uses Chinese folk have for BTC. And if it does become that and nothing but then I'm afraid the price will be bleedin' gargantuan.

[billyjoeallen]

billy how's your short going?

#rekt

sorry i kinda had to do it - but i think if you hold on a bit more then maybe...

The short was a hedge bet. The vast majority of my holdings are in cold storage.  Anyone not hedging until this governance issue plays out is taking an awful risk, IMHO.

[adamstgBit]

omfg close your shorts poeple

watching the chinese government mont a 51% attack would be out of this would hilarious, and you all know it.

[JayJuanGee]

Goooood morning, i was in a shit mood this morning, GF wake up late so i had to drive her to work and there was 15cm of fresh sown on the ground and 15cm more coming down, but my mood changed when i checked bitcoinchart    

Yes brother! We have breathing space above $400 now. Hopefully we don't dip below again although I'm sure there are loads of dirty little profit takers sniffing around. HODL for bigger profits FFS.

I will feel a bit better regarding safety from sub $400 if price were to go above $430 on fairly decent volume (let's say 15 to 20k BTC traded on bitstamp in the 1 day charts).