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

[iCEBREAKER]

strongly recommend moving your BTC out of coinbase
do not trust these spot light loving restarts, and show them your disuse for actively trying to stop what little progress we FINALLY have made, by leaving them.
if you leave coins on coinbase, you are supporting, another year of bitching and nothing getting done while bitcoin bleeds.

Coinbase's business model depends on good relations with government, regulators, and banks. There is nothing wrong with that. The unfortunate reality is that we require crypto-to-fiat exchanges and many of these exchanges, particularly ones that want to operate in the US, have to have just as much allegiance to the world of fiat as they do to the world of cryptocurrency.

The problem arises, however, when these companies -- whose basic business model revolves around a Bitcoin that doesn't pose an existential threat to banks and which is easily monitored and/or censored by governments -- seek to use their influence to change how Bitcoin itself works.

We can all forgive Coinbase for spying on their users' transaction in order to comply with government regulations. We can forgive them for locking people's accounts when those people use their money in ways Coinbase or the government doesn't approve of. We can forgive them when they require photo IDs and social security numbers just to do business. We can forgive the fact that they are undermining Bitcoin's fungibility and decentralization and resistance to censorship because we understand they have no choice. But do we really want these guys dictating the direction of Bitcoin itself? At a protocol level? They will undo everything Bitcoin stands for and what makes it valuable.

I don't forgive Coinbase for its jackboot kissing and polishing.  They do it voluntarily, they do it for personal financial gain.

Does anyone believe Brian "Just Following Orders" Armstrong would hesitate, much less refuse, to turn in Anne Franke?  He's exactly the kind of shitlord who would refuse to serve a 20 year old veteran a beer on his first day back from Iraq.  What a sniveling worm!

These authoritarian collaborators, these objectively pro-fascist Vichy Bitcoiners, need to be economically ignored and socially ridiculed until they go away.

They know what will happen to them when the revolution comes, and that's why they're doing everything in their power to embrace/extend/extinguish Bitcoin.

The Blockchain Alliance Inc is at the heart of the Big Lie that Bitcoin is here to replace commercial rather than central banking.

[cbeast]

ONE more time for good luck

Sounds great until the whole July 2017 (maybe, pinky promise) just in time for one year later than the halving, part.

I suspect another player will soon jump in and steal away all their best devs. Blockstream will go bankrupt by years end.

[Cconvert2G36]

ONE more time for good luck

Sounds great until the whole July 2017 (maybe, pinky promise) just in time for one year later than the halving, part.

I suspect another player will soon jump in and steal away all their best devs. Blockstream will go bankrupt by years end.

Not a chance. They just sold their original roadmap as a compromise... and the miners bought it, completely. If anything, they all deserve bonuses, big ones.

[cbeast]

ONE more time for good luck

Sounds great until the whole July 2017 (maybe, pinky promise) just in time for one year later than the halving, part.

I suspect another player will soon jump in and steal away all their best devs. Blockstream will go bankrupt by years end.

Not a chance. They just sold their original roadmap as a compromise... and the miners bought it, completely. If anything, they all deserve bonuses, big ones.

Only until the Chinese figure out they got duped, dump their coins, and shut down the miners after the halving leaving a full mempool that won't ever be confirmed.

[marcus_of_augustus]

ONE more time for good luck

Sounds great until the whole July 2017 (maybe, pinky promise) just in time for one year later than the halving, part.

I suspect another player will soon jump in and steal away all their best devs. Blockstream will go bankrupt by years end.

Not a chance. They just sold their original roadmap as a compromise... and the miners bought it, completely. If anything, they all deserve bonuses, big ones.

... or assuming good faith, they just figured out through an intensive analysis session by a group of the technically most-qualified adversarial minds bashing together, the most likely best-practice, secure and expedient way to increase transaction capacity of the bitcoin system for the foreseeable future.

But spin it how you like, you have with everything else.

[cbeast]

ONE more time for good luck

Sounds great until the whole July 2017 (maybe, pinky promise) just in time for one year later than the halving, part.

I suspect another player will soon jump in and steal away all their best devs. Blockstream will go bankrupt by years end.

Not a chance. They just sold their original roadmap as a compromise... and the miners bought it, completely. If anything, they all deserve bonuses, big ones.

Only until the Chinese figure out they got duped, dump their coins, and shut down the miners after the halving leaving a full mempool that won't ever be confirmed.

Or maybe that's the plan. Then they can roll out their new HF that will "save" Bitcoin and solidify their position as sole entry and exit points.

[ChartBuddy]

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[Cconvert2G36]

ONE more time for good luck

Sounds great until the whole July 2017 (maybe, pinky promise) just in time for one year later than the halving, part.

I suspect another player will soon jump in and steal away all their best devs. Blockstream will go bankrupt by years end.

Not a chance. They just sold their original roadmap as a compromise... and the miners bought it, completely. If anything, they all deserve bonuses, big ones.

Only until the Chinese figure out they got duped, dump their coins, and shut down the miners after the halving leaving a full mempool that won't ever be confirmed.

Nah, that's a BJA fullblockpocalypse scenario... I don't buy it. The marginal transactions drop off/growth stalls before that point. He argues that the car will blow up... I argue that it'll maybe be on half the cylinders, but still be rolling just fine. Wouldn't be an absolute survival situation for another 2 halvings or so... but we're talking about potential... and competition.

... or assuming good faith, they just figured out through an intensive analysis session by a group of the technically most-qualified adversarial minds bashing together, the most likely best-practice, secure and expedient way to increase transaction capacity of the bitcoin system for the foreseeable future.

But spin it how you like, you have with everything else.

Marcus defers to gmax, dr back, blue matt... and independent contractor luke jr. And in good faith, determines that this is simply as fast as we can technically go... safely... fine.

I have a hard time squaring that with their interest in an off-chain provider Blockstream... we can agree to disagree.

Look, I know that we're basically locked in till mid-late 2017 now. Let me get it out of my system. I won't drone on about this for the next 18 months. I'm not married to these coins, and hell, the ones I hold on to may go up in value all the same. My sales/buys and these words are my only influence in this market... neither are earth shaking.

Allow me my catharsis...   

[bitebits]

My donut came through ok. Just sayin'.

I recommend you leave the house once in a while. It's good for the brain, just try it.

[ChartBuddy]

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[ChartBuddy]

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[Cconvert2G36]

♫"I'm Waiting For The Blocks"♪

I'm waiting for my blocks
Not enough dollars in my hand
Up to Lexington, 125
Feel sick and dirty, more dead than alive
I'm waiting for my blocks
Hey, white boy, what you doin' uptown?
Hey, white boy, you chasin' our marmot around?
Oh pardon me sir, it's the furthest from my mind
I'm just lookin' for a dear, dear friend of mine
I'm waiting for my blocks
Here he comes, he's all dressed in black
Beat up shoes and a big straw hat
He's never early, he's always late
First thing you learn is you always gotta wait I'm waiting for my blocks
Up to a Brownstone, up three flights of stairs
Everybody's pinned you, but nobody cares
He's got the bids, gives you sweet taste
Ah then you gotta split because you got no time to waste
I'm waiting for my blocks
Baby don't you holler, darlin' don't you bawl and shout
I'm feeling good, you know I'm gonna work it on out
I'm feeling good, I'm feeling oh so fine
Until tomorrow, but that's just some other time
♫I'm waiting for my blocks♩

[ChartBuddy]

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[ChartBuddy]

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[valta4065]

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I've bet on 420 before wednesday!

Pretty sure we'll see it. Small dump coming.

[AlexGR]

@marcus_of_augustus, saying that these TX do "crap" for fees doesn't sound right seeing how they account for ~90% of the total fees miners collect on each block.

Still the fees per block are so low that miners can actually do without them. A 0.25btc per block is just 1% of the block. It's so irrelevant that some miners prefer to mine empty blocks and broadcast faster than their competitors / reducing orphan risk or uncertainty - and others don't even bother to change default mining values in their mining blocks (max=750kb).

In any case, between "blocks are full" and "fees", fees are the better indicator about the status of the network.

Right now the bulk of transactions are conducted at near zero cost (0 to 3-5 cents). This situation where everybody is transacting for practically zero cost, would not be possible if there was a true "blocks are full" problem.

If fees rise sharply to much, much higher levels that are not considered practically-free txs, then that's the indicator that blocks are getting fuller by people who actually want to transact instead of just putting in there txs for the lolz.

[sAt0sHiFanClub]

When you fight the power for as long as he [we] has...Violence just sort of becomes who you are.

Another quote for the Blockstream mission statement.

[mainpmf]

Can't we make a thread called "let everyone one fight over bitcoins issues and developments" and let this one for TA and graphs about speculation? 

[ChartBuddy]

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[Cconvert2G36]

Can't we make a thread called "let everyone one fight over bitcoins issues and developments" and let this one for TA and graphs about speculation?  

You go first. Or was that it?