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

[jod_doj]

ooh the price seems to be not rising right now, i guess here comes the real test of the price, lets hope it will be at least stable

[Elwar]

ooh the price seems to be not rising right now, i guess here comes the real test of the price, lets hope it will be at least stable

One does not simply rise past $420 without returning to it over and over for a few days.

[bargainbin]

... but I doubt that is very explanatory regarding so many factors for the price increase. In other words correlation rather than causation.

*Harrumph* ... Rhahthar. Quite.

[tomothy]

"3.In the next 3 weeks, we need the Bitcoin Core developers to work with us and clarify the roadmap with respect to a future hard-fork which includes an increase of the block size. Currently we are in discussions to determine the next best steps. We are as a matter of principle against unduly rushed or controversial hard-forks irrespective of the team proposing and we will not run such code on production systems nor mine any block from that hard-fork. We urge everyone to act rationally and hold off on making any decision to run a contentious hard-fork (Classic/XT or any other)."

This is what to currently watch. 2/11 + 21( 3 weeks) = ~ Early March. So say by 3/10/16, Core should have a plan for an increase. Miners wanted a 1 year delay for a block size increase and THEN to examine Segwit. They like segwit, but they don't trust it. At least that was my interpretation. HF first, segwit maybe later. This does not align with core's suggestion for Segwit in may & Segwit IS block increase. Miners think this is too rushed and that there hasn't been enough testing. Miners also didn't like RBF and felt like core was taking $$ from Miners. I think if Core doesn't play ball, they could be in some serious trouble. However, around this same time, new Asics should start to come online and out for distribution, right? Honestly, if Blockstream is intent on keeping small blocks they should be investing in mining hardware to support their position. I think it's foolish to discount the power of the miners. If you use the analogy of a car, it's like saying the driver controls everything. Sure, that may be true... And then its like saying how the car is built determines how the driver will use it. Sure, that's also true. But at the end of the day, if the car requires fuel to run, and you have no fuel, aka, you're out of gas. You're screwed.

I dunno, I can see a weekend dump back to 370's and stayin in 370-420 for the next 3 weeks until Core makes their move. With this sort of a time line, you are looking at stuff happening in april. Good/bad/indifferent, stuffs gonna be 'cray cray.' It's been nice to see us staying in the 400's though. I'd like the resistance to hold, I'm just not feeling very optimistic with all this outstanding debt essentially. Gotta pay the piper first before we get eaten by the blockstream rats.

[sAt0sHiFanClub]

Epic copy-pasta!

A Call for Consensus

James Hilliard
Pool/Farm Admin
BitmainWarranty

Poolboy more like. FFS.

[adamstgBit]

Epic copy-pasta!

A Call for Consensus

James Hilliard
Pool/Farm Admin
BitmainWarranty

Poolboy more like. FFS.

do you disagree with there open letter?

would you feel better if i signed it?  

[Armando]

ooh the price seems to be not rising right now, i guess here comes the real test of the price, lets hope it will be at least stable

One does not simply rise past $420 without returning to it over and over for a few days.

yeah))) seems that the battle over 420 will be hard 

[ChartBuddy]

Coin



Explanation

[billyjoeallen]

Epic copy-pasta!

A Call for Consensus

Over the past few months there has been significant attention within the bitcoin ecosystem and beyond on what is commonly referred to as the “block size issue” — the size and scale of bitcoin blocks. There is a pressing need for an inclusive roadmap that takes into account the needs of businesses and all stakeholders.

As a community of bitcoin businesses, exchanges, wallets, miners, and mining pools, we have come together to chart an effective path to resolve this challenge and agreed on five positions we hope will guide the larger community as we move forward together.

The following are five key points that we have all agreed on.
1.We see the need for a modest block size increase in order to move the Bitcoin project forward, but we would like to do it with minimal risk, taking the safest and most balanced route possible. SegWit is almost ready and we support its deployment as a step in scaling.
2.We think any contentious hard-fork contains additional risks and potentially may result in two incompatible blockchain versions, if improperly implemented. To avoid potential losses for all bitcoin users, we need to minimize the risks. It is our firm belief that a contentious hard-fork right now would be extremely detrimental to the bitcoin ecosystem.
3.In the next 3 weeks, we need the Bitcoin Core developers to work with us and clarify the roadmap with respect to a future hard-fork which includes an increase of the block size. Currently we are in discussions to determine the next best steps. We are as a matter of principle against unduly rushed or controversial hard-forks irrespective of the team proposing and we will not run such code on production systems nor mine any block from that hard-fork. We urge everyone to act rationally and hold off on making any decision to run a contentious hard-fork (Classic/XT or any other).
4.We must ensure that future changes to code relating to consensus rules are done in a safe and balanced way. We also believe that hard-forks should only be activated if they have widespread consensus and long enough deployment timelines. The deployment of hard-forks without widespread consensus is dangerous and has the potential to cause trust and monetary losses.
5.We strongly encourage all bitcoin contributors to come together and resolve their differences to collaborate on the scaling roadmap. Divisions in the bitcoin community can only be mended if the developers and contributors can take the first step and cooperate with each other.

Our shared goal is the success of bitcoin. Bitcoin is strong and transformational. By working together, we will ensure that its future is bright.

Together, we are:

Phil Potter
Chief Strategy Officer
Bitfinex

Valery Vavilov
CEO
BitFury

Alex Petrov
CIO
BitFury

James Hilliard
Pool/Farm Admin
BitmainWarranty

Yoshi Goto
CEO
BitmainWarranty

Alex Shultz
CEO
BIT-X Exchange

Bobby Lee
CEO
BTCC

Samson Mow
COO
BTCC

Robin Yao
CTO
BTCT & BW

Ronny Boesing
CEO
CCEDK ApS

Obi Nwosu
Managing Director
Coinfloor

Mark Lamb
Founder
Coinfloor

Wang Chun
Admin
F2Pool

Marco Streng
CEO
Genesis Mining

Marco Krohn
CFO
Genesis Mining

Oleksandr Lutskevych
CEO
GHash.IO & CEX.IO

Lawrence Nahum
CEO
GreenAddress

Eric Larchevêque
CEO
Ledger

Jack Liao
CEO
LIGHTNINGASIC & BitExchange

Charlie Lee
Creator
Litecoin

Guy Corem
CEO
Spondoolies-Tech

Davide Barbieri
CTO
TheRockTrading

Michael Cao
CEO
Zoomhash

如果你想要读中文版，请点击这里。

This is basically the same letter the miners sent, with the same deadline!   They are implying that they want Core to pick a time frame on a hard fork within three weeks or they will support Classic. 

So basically it's the whole world against Core at this point.  1MB4EVA is doomed, But we still have no idea how long it will take to die.  It's hard to imagine Core won't take this deal. Bigblockers have caved on everything but 2MB some time in the next say 18 months. 

Core's best option will be something like SegWit this year, and if everything goes well, 2MB next year with a doubling every other year after that. They will try to figure out what the slowest scaling schedule can possibly be that the majority will accept.  If they guess right, off to the races. If they guess wrong, look out below. 

I've become a pessimist because I have been following this controversy longer than most. I think there is a slight probability that they will guess wrong and Classic will become Bitcoin, but that is by no means certain. Core/Blockstream has demonstrated some really stunning ineptitude with their tin ears, and weak PR.  The voices against them cry louder and louder and have become a chorus, but the most powerful voice, the Market, is perhaps unclear. There is a reason why we are still trading at ~40% of the ATH 27 months later.  I believe Core's obstinacy on the blocksize issue is that reason.  The five year logarithmic uptrend is broken.  It's Core's fault. 

There is no getting rid of Core hegemony without a crash. Either a crash will get rid of them or getting rid of them will cause a crash.  The only way Core can maintain Hegemony is by committing to a HF and moving from their entrenched position. Time to make popcorn.

[adamstgBit]

Epic copy-pasta!

A Call for Consensus

Over the past few months there has been significant attention within the bitcoin ecosystem and beyond on what is commonly referred to as the “block size issue” — the size and scale of bitcoin blocks. There is a pressing need for an inclusive roadmap that takes into account the needs of businesses and all stakeholders.

As a community of bitcoin businesses, exchanges, wallets, miners, and mining pools, we have come together to chart an effective path to resolve this challenge and agreed on five positions we hope will guide the larger community as we move forward together.

The following are five key points that we have all agreed on.
1.We see the need for a modest block size increase in order to move the Bitcoin project forward, but we would like to do it with minimal risk, taking the safest and most balanced route possible. SegWit is almost ready and we support its deployment as a step in scaling.
2.We think any contentious hard-fork contains additional risks and potentially may result in two incompatible blockchain versions, if improperly implemented. To avoid potential losses for all bitcoin users, we need to minimize the risks. It is our firm belief that a contentious hard-fork right now would be extremely detrimental to the bitcoin ecosystem.
3.In the next 3 weeks, we need the Bitcoin Core developers to work with us and clarify the roadmap with respect to a future hard-fork which includes an increase of the block size. Currently we are in discussions to determine the next best steps. We are as a matter of principle against unduly rushed or controversial hard-forks irrespective of the team proposing and we will not run such code on production systems nor mine any block from that hard-fork. We urge everyone to act rationally and hold off on making any decision to run a contentious hard-fork (Classic/XT or any other).
4.We must ensure that future changes to code relating to consensus rules are done in a safe and balanced way. We also believe that hard-forks should only be activated if they have widespread consensus and long enough deployment timelines. The deployment of hard-forks without widespread consensus is dangerous and has the potential to cause trust and monetary losses.
5.We strongly encourage all bitcoin contributors to come together and resolve their differences to collaborate on the scaling roadmap. Divisions in the bitcoin community can only be mended if the developers and contributors can take the first step and cooperate with each other.

Our shared goal is the success of bitcoin. Bitcoin is strong and transformational. By working together, we will ensure that its future is bright.

Together, we are:

Phil Potter
Chief Strategy Officer
Bitfinex

Valery Vavilov
CEO
BitFury

Alex Petrov
CIO
BitFury

James Hilliard
Pool/Farm Admin
BitmainWarranty

Yoshi Goto
CEO
BitmainWarranty

Alex Shultz
CEO
BIT-X Exchange

Bobby Lee
CEO
BTCC

Samson Mow
COO
BTCC

Robin Yao
CTO
BTCT & BW

Ronny Boesing
CEO
CCEDK ApS

Obi Nwosu
Managing Director
Coinfloor

Mark Lamb
Founder
Coinfloor

Wang Chun
Admin
F2Pool

Marco Streng
CEO
Genesis Mining

Marco Krohn
CFO
Genesis Mining

Oleksandr Lutskevych
CEO
GHash.IO & CEX.IO

Lawrence Nahum
CEO
GreenAddress

Eric Larchevêque
CEO
Ledger

Jack Liao
CEO
LIGHTNINGASIC & BitExchange

Charlie Lee
Creator
Litecoin

Guy Corem
CEO
Spondoolies-Tech

Davide Barbieri
CTO
TheRockTrading

Michael Cao
CEO
Zoomhash

如果你想要读中文版，请点击这里。

This is basically the same letter the miners sent, with the same deadline!   They are implying that they want Core to pick a time frame on a hard fork within three weeks or they will support Classic. 

So basically it's the whole world against Core at this point.  1MB4EVA is doomed, But we still have no idea how long it will take to die.  It's hard to imagine Core won't take this deal. Bigblockers have caved on everything but 2MB some time in the next say 18 months. 

Core's best option will be something like SegWit this year, and if everything goes well, 2MB next year with a doubling every other year after that. They will try to figure out what the slowest scaling schedule can possibly be that the majority will accept.  If they guess right, off to the races. If they guess wrong, look out below. 

I've become a pessimist because I have been following this controversy longer than most. I think there is a slight probability that they will guess wrong and Classic will become Bitcoin, but that is by no means certain. Core/Blockstream has demonstrated some really stunning ineptitude with their tin ears, and weak PR.  The voices against them cry louder and louder and have become a chorus, but the most powerful voice, the Market, is perhaps unclear. There is a reason why we are still trading at ~40% of the ATH 27 months later.  I believe Core's obstinacy on the blocksize issue is that reason.  The five year logarithmic uptrend is broken.  It's Core's fault. 

There is no getting rid of Core hegemony without a crash. Either a crash will get rid of them or getting rid of them will cause a crash.  The only way Core can maintain Hegemony is by committing to a HF and moving from their entrenched position. Time to make popcorn.

holy fuck that would be the single biggest buy opt since SR crash.

[ChartBuddy]

Coin



Explanation

[Cconvert2G36]

Epic copy-pasta!

A Call for Consensus

James Hilliard
Pool/Farm Admin
BitmainWarranty

Poolboy more like. FFS.

Hey, that name looks familiar. Nice of them to include such a srs businessman, and near the top too.

Such timing on the Sybil attack topic!

/PseudoNode:0.11.2/ is here.



One of the first ones... gone now, was more interesting than the rest...



 
https://archive.is/JEav8

[billyjoeallen]

You really have to appreciate what an epic failure of leadership this is when even Core's strongest supporters are saying essentially that it's 2MB or you're out of a job. 

This last $50 pump was led by the Chinese who seem to think Core has no choice but to cave and they are right. Regardless of how good they are at coding or even if they are right about the problems with scaling, Core is absolutely terrible at maintaining consensus. 

It's Core's job to maintain consensus, but they are the only group preventing it. When the very people who you are supposed to lead are giving you ultimatums, you have failed at leadership.  Yet even now I don't think they understand how badly they have fucked up. They may not even think they have fucked up at all.  These guys may be the best code developers in the world. I don't know. What I do know is they are the worst leaders I have ever seen. 

Steve Jobs was a brilliant designer, but a bad leader and it cost him his job. He learned from the experience though and fought his way back and became an excellent leader. Both he and Apple were better for it. When I look at Vladimir, Maxwell, Adam Back etc, i do not see a Steve Jobs among them. I hope I am wrong.

[gentlemand]

When I look at Vladimir, Maxwell, Adam Back etc, i do not see a Steve Jobs among them. I hope I am wrong.

I think those guys would argue that there shouldn't be a Steve Jobs while possibly secretly agreeing and wishing they were one.

[hdbuck]

fork off already.

[coins101]

DOJ forcing Apple to create back door into iPhones so FBI can hack phones:

https://www.reddit.com/r/Bitcoin/comments/46m3yl/doj_attempting_to_force_apple_to_comply_with_fbi/

[Dotto]

Bitcoiners have so much to learn from Jacky

[ChartBuddy]

Coin



Explanation

[Cconvert2G36]

fork off already.

[gentlemand]

All the money in the world yet he can't prevent himself from looking like a Lego man. I think there's a lesson in there somewhere. Or maybe he paid to look like one which is even more unsettling.