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

[Fatman3001]

People are no longer cashing out on Eth and Bitcoin still going up aggressively... general sentiment bullish.

We're probably on our way for a royal whopping rally.

Too bad Bitcoin will have to remain a tool for speculators for the next couple of years. If we're lucky.

[bargainbin]

Bitcoin is ours!

Indeed.  

Bitcoin is defined by the code we choose to run.  

As a btc user, I never had the opportunity to chose which code I was going to use.

Using "plug and play" spv or core wallets and trading on centralized exchanges does not make you a "bitcoin user" technically speaking.

So for you someone using electrum and saving his private keys is not a btc user?
What is a btc user then?

He appears to think of a Bitcoin user as a miner, someone who runs a full node, or at least runs some flavor of a core wallet. Do only "kids" run SPV wallets although you can do advanced things like multisig with them, and Satoshi invented the SPV wallet concept for Bitcoin users to use?

I think it's important to be aware of the fact that hdbuck is a fucking idiot.

An angry, bitter idiot, to be precise.
or is good at never breaking character

[Fatman3001]

Bitcoin is ours!

Indeed.  

Bitcoin is defined by the code we choose to run.  

As a btc user, I never had the opportunity to chose which code I was going to use.

Using "plug and play" spv or core wallets and trading on centralized exchanges does not make you a "bitcoin user" technically speaking.

So for you someone using electrum and saving his private keys is not a btc user?
What is a btc user then?

He appears to think of a Bitcoin user as a miner, someone who runs a full node, or at least runs some flavor of a core wallet. Do only "kids" run SPV wallets although you can do advanced things like multisig with them, and Satoshi invented the SPV wallet concept for Bitcoin users to use?

I think it's important to be aware of the fact that hdbuck is a fucking idiot.

An angry, bitter idiot, to be precise.
or is good at never breaking character [Fatman says= go figure, when did you buy his account?]

Thx, that clarification is appreciated.

[bargainbin]

People are no longer cashing out on Eth and Bitcoin still going up aggressively... general sentiment bullish.

https://www.youtube.com/watch?v=1EjpEqZt_AA&feature=youtu.be

Getting rid of physical cash ongoing ... to prepare for negative interest rates and more control of your assets.

Bills killed -
500 bill
1000 bill
5000 bill
10,000 bill

Next target to kill -

100 dollar bill ... all while the dollar keeps dropping in spending power due to inflation. If anything larger bills should be introduced.

BTCeanie users unaffected
*Bills killed -
500 bill
1000 bill
5000 bill
10,000 bill
First world problems... "gud buy, crool wurld, without $10,000 bill, life itself is meaningless."

[ChartBuddy]

Coin



Explanation

[xslugx]

Bitcoin is ours!

Indeed.  

Bitcoin is defined by the code we choose to run.  

As a btc user, I never had the opportunity to chose which code I was going to use.

Using "plug and play" spv or core wallets and trading on centralized exchanges does not make you a "bitcoin user" technically speaking.

So for you someone using electrum and saving his private keys is not a btc user?
What is a btc user then?

He appears to think of a Bitcoin user as a miner, someone who runs a full node, or at least runs some flavor of a core wallet. Do only "kids" run SPV wallets although you can do advanced things like multisig with them, and Satoshi invented the SPV wallet concept for Bitcoin users to use?

I think it's important to be aware of the fact that hdbuck is a fucking idiot.

An angry, bitter idiot, to be precise.
or is good at never breaking character [Fatman says= go figure, when did you buy his account?]

Thx, that clarification is appreciated.

AHAHAH xD

Ok thanks guys, I didn't really understand in what I was not a btc user but everything is much more clear right now ^^

[xslugx]

this bitcoin rise the last days looks realy interesting.
for me it looks like the beginning of bigger rises.
would not surprise me if we are more high end of this week.

Seems like it's mostly due to Chinese fiat decrease in value, so it's solid but shouldn't go too far!

[Paashaas]

Burger King (Arnhem, The Netherlands) accepts Bitcoin payments! To celebrate the 100-retailer milestone, a mystery event will be held at Burger King Arnhem tomorrow evening.

I dont live near Arnhem but it's worth the trip to buy a hamburger menu with Bitcoin 

http://bitcoinist.net/burger-king-arnhem-now-accepts-bitcoin-payments

[Fatman3001]

Burger King (Arnhem, The Netherlands) accepts Bitcoin payments! To celebrate the 100-retailer milestone, a mystery event will be held at Burger King Arnhem tomorrow evening.

I dont live near Arnhem but it's worth the trip to buy a hamburger menu with Bitcoin 

http://bitcoinist.net/burger-king-arnhem-now-accepts-bitcoin-payments

Looks like I'm moving to Arnhem then.

[valta4065]

Burger King (Arnhem, The Netherlands) accepts Bitcoin payments! To celebrate the 100-retailer milestone, a mystery event will be held at Burger King Arnhem tomorrow evening.

I dont live near Arnhem but it's worth the trip to buy a hamburger menu with Bitcoin 

http://bitcoinist.net/burger-king-arnhem-now-accepts-bitcoin-payments

Hey!
I don't like Burger King but that's really cool to see a shop like this accepting btc especially in Europe!

[hdbuck]

Bitcoin is ours!

Indeed.  

Bitcoin is defined by the code we choose to run.  

As a btc user, I never had the opportunity to chose which code I was going to use.

Using "plug and play" spv or core wallets and trading on centralized exchanges does not make you a "bitcoin user" technically speaking.

So for you someone using electrum and saving his private keys is not a btc user?
What is a btc user then?

He appears to think of a Bitcoin user as a miner, someone who runs a full node, or at least runs some flavor of a core wallet. Do only "kids" run SPV wallets although you can do advanced things like multisig with them, and Satoshi invented the SPV wallet concept for Bitcoin users to use?

I think it's important to be aware of the fact that hdbuck is a fucking idiot.

An angry, bitter idiot, to be precise.
or is good at never breaking character [Fatman says= go figure, when did you buy his account?]

Thx, that clarification is appreciated.

AHAHAH xD

Ok thanks guys, I didn't really understand in what I was not a btc user but everything is much more clear right now ^^

Yes listen to the trolls and forkers here, they surely know what they are talking about.

Bitcoin's point is to remove the middleman, to be your own bank, hence spv, or exchanges are not a technically sound practice within the bitcoin sphere.

Just like using facebook and giving up all your information to Google et al. does not make you a sane internet user.

[bargainbin]

Bitcoin is ours!

Indeed.  

Bitcoin is defined by the code we choose to run.  

As a btc user, I never had the opportunity to chose which code I was going to use.

Using "plug and play" spv or core wallets and trading on centralized exchanges does not make you a "bitcoin user" technically speaking.

So for you someone using electrum and saving his private keys is not a btc user?
What is a btc user then?

He appears to think of a Bitcoin user as a miner, someone who runs a full node, or at least runs some flavor of a core wallet. Do only "kids" run SPV wallets although you can do advanced things like multisig with them, and Satoshi invented the SPV wallet concept for Bitcoin users to use?

I think it's important to be aware of the fact that hdbuck is a fucking idiot.

An angry, bitter idiot, to be precise.
or is good at never breaking character [Fatman says= go figure, when did you buy his account?]

Thx, that clarification is appreciated.

AHAHAH xD

Ok thanks guys, I didn't really understand in what I was not a btc user but everything is much more clear right now ^^

Yes listen to the trolls and forkers here, they surely know what they are talking about.

Bitcoin's point is to remove the middleman, hence spv, or exchanges are not a technically sound practice within the bitcoin sphere.

Just like using facebook and giving up all your information to Google et al. does not make you a sane internet user.

So technically, bitcoin has, at most *less than 5,000 Correction: about 6,000 users, due to recent explosive growth of Classic!*: because that's how many full nodes there are, and some (*gasp*) run more than one node

[BlindMayorBitcorn]

We should try to curb adoption early. Too many users not running full core nodes weakens the system. Like parasites

[valta4065]

We should try to curb adoption early. Too many users not running full core nodes weakens the system. Like parasites

You're serious?
I mean if you are, then seems like you have a very "elite" perception of cryptocurrencies...

[ChartBuddy]

Coin



Explanation

[BitUsher]

You're serious?
I mean if you are, then seems like you have a very "elite" perception of cryptocurrencies...

He is being sarcastic and in the camp of lets blow up capacity as much as possible and dump all the spam on the main chain regardless of the consequences because I am impatient and want bitcoin to compete with visa Immediately , regardless of the consequences.

In reality we don't have to choose between either. There is a false dichotomy being painted.

Bitcoin already has a temporary surplus capacity with insured and regulated off the chain solutions for all those influx of new users like coinbase / circle/ and other exchanges... If a fee market starts to build up that will drive some of the spam off the network , encourage some new users to use off the chain solutions instead, and spur some innovation in use of payment channels like what 21 introduced.

The sky isn't falling. Bitcoin can take on much more overnight without any issues.
 

[mainpmf]

Coin



Explanation

And the small dump. Hope it'll stabilize around 410 =)

[molecular]

Bitcoin already has a temporary surplus capacity with insured and regulated off the chain solutions for all those influx of new users like coinbase / circle/ and other exchanges... If a fee market starts to build up that will drive some of the spam off the network , encourage some new users to use off the chain solutions instead, and spur some innovation in use of payment channels like what 21 introduced.

we can all use paypal as a "temporary off-chain solution", ok?

[bargainbin]

We should try to curb adoption early. Too many users not running full core nodes weakens the system. Like parasites!

FTFY

[BitUsher]

we can all use paypal as a "temporary off-chain solution", ok?

I understand that some may resent Brian for his recent trolling on twitter and thoughtless remarks, but I won't hold it against him. The reality is these off the chain solutions provide a temporary and valuable service to our community and new users are better at onramping onto them before they learn about the complexities of our ecosystem.

We don't want millions of new users simply downloading electrum and flooding our ecosystem with questions and mistakes and losing their passwords, forgetting to backup their wallets, ect... This would not only be a PR disaster but also create a negative impression of bitcoin that will make them think twice about using it for a long while.

You have to try and empathize with the mind of a new user being introduced to bitcoin and understand that many need to take incremental steps in learning and using it... onramp services like circle and coinbase are well suited to fill this role as they have better support, and handle the complex security for the clients, and the clients have to buy the bitcoins from them anyways so may as well setup a temporary wallet with them too.