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

[arklan]

nah, halving will be a boom, if anything.

So you think. And so EVERYONE thinks. Which means everyone is holding and buying for after the halving. Which means there will be a huge dump after the halving. Which means... Well I think you understood ^^

interesting thought. we'll see, i suppose.

Problem being that in fact you absolutely can't know because of all the parameters... I find the idea interesting but...

Well it's all a bet I suppose. But in the end the price will rise that's for sure!

too many variables, exactly. it's one of the things that keeps me interested around here. unpredictability.

[1714691709]

1714691709

[aztecminer]

Tarmi being a prime example of getting killed on margin.

good ol tarmi. i simply loved that fart. 

he sold his account long time ago after he got wrekt .

[aztecminer]

nah, halving will be a boom, if anything.

So you think. And so EVERYONE thinks. Which means everyone is holding and buying for after the halving. Which means there will be a huge dump after the halving. Which means... Well I think you understood ^^

interesting thought. we'll see, i suppose.

Problem being that in fact you absolutely can't know because of all the parameters... I find the idea interesting but...

Well it's all a bet I suppose. But in the end the price will rise that's for sure!

too many variables, exactly. it's one of the things that keeps me interested around here. unpredictability.

bitcoin is predictable.. the range is $350 to $500 .. thats it. #paralyzed #GimpedCoin

[aztecminer]

420 Yeah 

85% block full woohoo yeah!

[ImI]

Tarmi being a prime example of getting killed on margin.

good ol tarmi. i simply loved that fart. 

he sold his account long time ago after he got wrekt .

i told him at that time, you will be here just as long as this bear market goes on. as soon as the tide turns you and your shithole-friends will be gone, but we, the bulltards, will still be here.

and thats exactly what happend. 

[aztecminer]

Tarmi being a prime example of getting killed on margin.

good ol tarmi. i simply loved that fart. 

he sold his account long time ago after he got wrekt .

i told him at that time, you will be here just as long as this bear market goes on. as soon as the tide turns you and your shithole-friends will be gone, but we, the bulltards, will still be here.

and thats exactly what happend. 

i'm still here.. i play both sides.

[adamstgBit]

420 Yeah 

85% block full woohoo yeah!

just wait till 2MB blocks are full

that'll be twice as bearish.

[billyjoeallen]

It's going back up! Come on, Adam. It's only four bucks.

na

i gata go to bed if i bet 4$ i will stay up, and my girl will be sad, and thats just no good for me.


but hey $4 says >412.5 by morning, take it or leave it.

you've made $2 so far, why not bet $4

i really gtg,

let's make a few more bets on some 2hr candles or somthing tomorrow, it's fun!

Why the hell not? You've been a good sport, so ok.  deal.

GOOOOOD morning
 

yeah, you won your two bucks back. Congratulations.  We're even.

ok now...

300$ says every single month price will be > then the previous month for the next 10 years.

I'd take you up on that, but I don't want to have $300 tied up in escrow for ten years.  My short is in eminent danger of getting rekt, so I'd have to pull it out of cold storage.  If you're right, $10 worth of bitcoin today would more than cover it!

I agree with you, it looks like the bear market is finally over, but there will be down months after the next bubble.

I guess people figured out even a contended hard fork would not leave two chains for more than a day or two, tops. This blocksize issue is not going to go away, but remember in 2013 we all suspected Gox was insolvent, but it didn't stop the Great Bubble.  

Markets can stay irrational longer than you can stay solvent. Now I'm thinking fullblocalypse and the halving cancel each other out. Either way, they're both well known and likely priced in.  

u really are short ?? no wonders this thing pumped. .. i disagree that halvening cancels out bitcoin that cant scale.. it aint gonna matter how many coins are mined... if this thing still cant scale after the halvening .. well it will only have been a YEAR and HALF of waiting. #ridiculousness #GimpedCoin

Yeah, I'm short. I have a tiger by the tail and I can't let it go. Really stupid, I know, but I'm so far upside down now that I might as well let it ride.  Just look for like a  spike on BFX. That'll be me blowing up.


Bitcoin can't scale, but that won't stop the gamblers from pumping. We all suspected something was wrong with Gox, but it didn't stop the Big Bubble in 2013.  The Chinese are still driving this thing and you know how Asians drive...

[Morecoin Freeman]

#prayforbillyjoeallen

[adamstgBit]

back in the day we had a limits too.

 "640 k ought to be enough for anybody." - Bill Gates, 1981

LOL

[tomothy]

So is the current upward trend based on anything specific? It doesn't seem that any fundamental disagreements have been resolved. Is this simply people hunting shorts to push it up to then ride shorts down?

(I expected some movement due to alter pump and dumps but was still surprised with this. I expected some ltc movement before btc movement. )

What's driving this up trend and what's the thought as to where we are going? I guess I expected more 380 sideways until 2mb resolved. I'm happy for the increase, it just doesn't seem real and I'm having difficulty believing we are now upward and onward. Like weird btc ptsd lol

[BlindMayorBitcorn]

^Take comfort in the fact that this is all just Ethereans crashing out. It will be over before you know it.

[adamstgBit]

So is the current upward trend based on anything specific? It doesn't seem that any fundamental disagreements have been resolved. Is this simply people hunting shorts to push it up to then ride shorts down?

(I expected some movement due to alter pump and dumps but was still surprised with this. I expected some ltc movement before btc movement. )

What's driving this up trend and what's the thought as to where we are going? I guess I expected more 380 sideways until 2mb resolved. I'm happy for the increase, it just doesn't seem real and I'm having difficulty believing we are now upward and onward. Like weird btc ptsd lol

if you absolutely need to attribute his rise to something rescent.

http://www.coindesk.com/dubai-government-backs-expansive-blockchain-tech-research-effort/

[ImI]

Tarmi being a prime example of getting killed on margin.

good ol tarmi. i simply loved that fart.  

he sold his account long time ago after he got wrekt .

i told him at that time, you will be here just as long as this bear market goes on. as soon as the tide turns you and your shithole-friends will be gone, but we, the bulltards, will still be here.

and thats exactly what happend.  

i'm still here.. i play both sides.

 

[AlexGR]

420 Yeah  

85% block full woohoo yeah!

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 258 bytes, this results in a fee of 10,320 satoshis.

....
Fees are at just 0.04 USD for urgent first block inclusion. And you can go down to 0.01-0.02 USD if you are willing to be included in the next 2-3 blocks instead of the next block.

So there are tonz of crap added every second that evidently aren't in any rush to get quickly validated. This means that whether 100KB, 1 MB or 10MB, it doesn't matter. A spammer can always fill them with junk as long as there are willing miners to process near zero cost txs.

With the fees for first block inclusion being at 0.04 USD, and +2/3 blocks at 0.01-0.02$, we have a near-zero-cost tx situation which allows near zero cost spamming / bloating etc, especially for low-urgency "transactions".

[adamstgBit]

420 Yeah  

85% block full woohoo yeah!

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 258 bytes, this results in a fee of 10,320 satoshis.

....
Fees are at just 0.04 USD for urgent first block inclusion. And you can go down to 0.01-0.02 USD if you are willing to be included in the next 2-3 blocks instead of the next block.

So there are tonz of crap added every second that evidently aren't in any rush to get quickly validated. This means that whether 100KB, 1 MB or 10MB, it doesn't matter. A spammer can always fill them with junk as long as there are willing miners to process near zero cost txs.

With the fees for first block inclusion being at 0.04 USD, and +2/3 blocks at 0.01-0.02$, we have a near-zero-cost tx situation which allows near zero cost spamming / bloating etc, especially for low-urgency "transactions".

so micro transactions at nearly no cost. is a flaw not a feature?

[lister storm]

price is pretty decent right now, i hope that it will be stable or only grow because i want to see huge increases

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

So is the current upward trend based on anything specific? It doesn't seem that any fundamental disagreements have been resolved. Is this simply people hunting shorts to push it up to then ride shorts down?

(I expected some movement due to alter pump and dumps but was still surprised with this. I expected some ltc movement before btc movement. )

What's driving this up trend and what's the thought as to where we are going? I guess I expected more 380 sideways until 2mb resolved. I'm happy for the increase, it just doesn't seem real and I'm having difficulty believing we are now upward and onward. Like weird btc ptsd lol

Two things:
It's the end of Chinese New year and the banks are open again there.

The Chinese miners sent a group letter to Core pledging that they would not change client software, but would they please give a date for a 2MB hard fork and tell us when they decide in the next three weeks?

The Chinks who are behind the pump seem to think that will force Core's hand because of the implied threat that maybe they won't be so committed without a clear answer.  Nobody in China wants to see a contentious hard fork and now they think they have avoided the risk.  Core has yet to respond publicly. 

I think this is overly optimistic, but what do I know? It seems like celebrating a winning election before the votes are counted, not exactly an unknown occurrence in Bitcoinspace.

[AlexGR]

so micro transactions at nearly no cost. is a flaw not a feature?

Near zero-cost txs = near zero-cost abuse.

When you have systems that are highly inefficient and thus vulnerable to abuse in order to achieve being trustless and decentralized, then you have to protect these systems from abuse through economic disincentives.

This is not only relative to bitcoin: Altcoins suffer the same fate. There is no alt that can have near-zero or zero fees and not have an open attack vector of abuse.

However, what is now problematic, may not be in the future as technology progresses.

From 1995 to 2015 we went 1000x in networks, storage, cpu etc. Till 2036 we could see a similar growth pattern of 100x-1000x-10.000x - who knows.