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

[BlindMayorBitcorn]

If we still want to observe price movements, maybe we should do some rebranding.
http://www.newsbtc.com/2016/03/02/ethereum-price-technical-analysis-03022016-calling-for-gains/

[bargainbin]

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012489.html

We are coming up on the subsidy halving this July, and there have been some
concerns raised that a non-trivial number of miners could potentially drop off
the network. This would result in a significantly longer block interval, which
also means a higher per-block transaction volume, which could cause the block
size limit to legitimately be hit much sooner than expected.
[...]
To alleviate this risk, it seems reasonable to propose a hardfork to the
difficulty adjustment algorithm so it can adapt quicker to such a significant
drop in mining rate. BtcDrak tells me he has well-tested code for this in his
altcoin

Hahahaha
Go go Core!

[ChartBuddy]

Coin



Explanation

[craked5]

The movement of the ETH market keeps me amazed. Light, fast and with a strong bottom. Maybe even too fast, because I'm getting afraid to trade and I'm beginning to feel like a hodler. It is a weird sensation, but I kind of like it.

Ahah ^^

Well the whole question about ETH is: will it be sustainable?

I don't see how ETH can sustain its own growth. Eth isn't even used currently am I wrong?

It's a surprise that it still keeps going up. When this thing started, then I expected it to be out of steam at around 0.015. But currently it doesn't look like it's getting tired.
People are making a blind bet though, because the technical aspects are still very raw. People make their bet based on the idea and the concept of ETH, which are indeed very good.
Lack of any interesting developments with bitcoin are making people look for other prospects and this will be the main cause of this ETH bubble. These endless quarrels are just symptoms of inefficient teamwork and lack of innovative ideas for development.
It currently seems like price growth for ETH is still sustainable. I'm beginning to think that I can have fun with ETH for another month or two. There will probably be some fast and deep drops, but the final floor will probably be a sight.

I don't find it surprising at all, it's just all a big FOMO bubble.

Most people buying ETH don't even know what it is. They don't realize it's not a coin, it's not a currency.
ETH has not the same meaning than btc, it's stupid to see them as concurrent, they are not!

[Fatman3001]

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012489.html

We are coming up on the subsidy halving this July, and there have been some
concerns raised that a non-trivial number of miners could potentially drop off
the network. This would result in a significantly longer block interval, which
also means a higher per-block transaction volume, which could cause the block
size limit to legitimately be hit much sooner than expected.
[...]
To alleviate this risk, it seems reasonable to propose a hardfork to the
difficulty adjustment algorithm so it can adapt quicker to such a significant
drop in mining rate. BtcDrak tells me he has well-tested code for this in his
altcoin

Hahahaha
Go go Core!

[luckygenough56]

did they say hardfork lol ?

[JayJuanGee]

Decision point comes closer. And it doesn't look good for Bitcoin.

Transferred 100% out of cold storage into several exchanges.

Hodler for 4 years no more.

Interesting... just a few days ago you were all up uP UP! May I ask what made you change your mind?

I thought we as a community would get our shit together. And as everything points to a decision point for (several month ) in the first decade of March, I thought this only could mean up. Now, as the decision point is around the corner, I think I could have been totally wrong and from here we could see the slow bleeding death of Bitcoin.

I observed my own behaviour for several month. Even in Jan. 2015 at $160 I bought a hell of coins, because I believed in the community. Since then no new money (from me) entered the Bitcoin space despite I still am expanding my crypto holdings. I think I was wrong and the decision point means down not up for bitcoin.

Edit: I left fiat because I couldn't agree with how it works. If I stay with Bitcoin while I feel the same, it is kind of self-betrayal.

Funny how you joined this forum on about the week of the max up price (ATH), and then you were so foresightful maxed out your BTC investment at the peak low in BTC prices in order to be self-described as a "winner"?   Should we take what you say with a very large grain of salt?

Of course you should... When you study my whole post history you will find my entry point in bitcoin (not the one, when I created my BCT account) also.

Well, each of us have our reasons for participating in the threads of this forum, and whether we find the threads helpful for us in deciding our bitcoin strategies or whether we believe bitcoin has become overvalued.

I personally believe that your recent posts are a bit filled with overhype regarding the direction of bitcoin, but surely you have a right to express your views and to reallocate your BTC holdings (and holdings in other crypto, if any) according to your views, timeline and your risk tolerance.

[jbreher]

A notable retrocoiner, Mircea, concedes loss of faith in Bitcoin:

Good. That notable retrocoiner irritating narcissistic blowhard is toxic to bitcoin.

http://qntra.net/2016/03/a-miner-problem/

Alas, your quoted material seems not to support your conclusion. He's been swinging his self-proclaimed massive crypto-schlong around long enough. Yet despite previous threats, there is nothing in the quote where he signals a divestiture. Sure, if he dumps from loss of faith, we might have a short-term drop. But hath the emperor any clothes?

One thing we've unambiguously learned from this is that he not only is bereft of significant mining power, but also bereft of significant influence over those that actually control mining power.

[gentlemand]

One thing we've unambiguously learned from this is that he not only is bereft of significant mining power, but also bereft of significant influence over those that actually control mining power.

Ooh, don't provoke the dark prince. He has powers beyond our imagining and legions of adoring minions who will do anything to please him.

I think the world will keep on turning if he does abandon us all. There'll be some suicides and self harming but we'll all come out of it stronger.

I do think he's right about Chinese mining monsters making BTC an abomination though.

[jbreher]

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012489.html

We are coming up on the subsidy halving this July, and there have been some
concerns raised that a non-trivial number of miners could potentially drop off
the network. This would result in a significantly longer block interval, which
also means a higher per-block transaction volume, which could cause the block
size limit to legitimately be hit much sooner than expected.
[...]
To alleviate this risk, it seems reasonable to propose a hardfork to the
difficulty adjustment algorithm so it can adapt quicker to such a significant
drop in mining rate. BtcDrak tells me he has well-tested code for this in his
altcoin

Hahahaha
Go go Core!

In all truthfulness, I have always wondered the reason for the 2016-block difficulty adjustment. A finer-grained adjustment seems just natural to me. Though I've never looked into it. What are the arguments against a more continuous adjustment?

(The four-year halving always seemed funny to me too. Done merely for simplicity of implementation?)

[Cconvert2G36]

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012489.html

We are coming up on the subsidy halving this July, and there have been some
concerns raised that a non-trivial number of miners could potentially drop off
the network. This would result in a significantly longer block interval, which
also means a higher per-block transaction volume, which could cause the block
size limit to legitimately be hit much sooner than expected.
[...]
To alleviate this risk, it seems reasonable to propose a hardfork to the
difficulty adjustment algorithm so it can adapt quicker to such a significant
drop in mining rate. BtcDrak tells me he has well-tested code for this in his
altcoin

Hahahaha
Go go Core!

In all truthfulness, I have always wondered the reason for the 2016-block difficulty adjustment. A finer-grained adjustment seems just natural to me. Though I've never looked into it. What are the arguments against a more continuous adjustment?

(The four-year halving always seemed funny to me too. Done merely for simplicity of implementation?)

It could help a minority chain fork get some blocks solved while they're rolling out their PoW change...

[Mervyn_Pumpkinhead]

I don't find it surprising at all, it's just all a big FOMO bubble.

Most people buying ETH don't even know what it is. They don't realize it's not a coin, it's not a currency.
ETH has not the same meaning than btc, it's stupid to see them as concurrent, they are not!

The most attractive part of it is, that it's not trying to be a currency, but it's more of a resource. Bitcoin is a low quality currency because of it's highly volatile price and it's addiction for greater fools. ETH has evolved beyond that and has moved a big step forward in practicality. How the technical aspects will hold up with the expectations, will be seen in the future. But I think that in not so close future. It's good for everyone that value flows from BTC to ETH, or else it will start to move from BTC to USD/EUR.

[gentlemand]

All people are seeing with ETH is a rising number on an exchange. I'd love to see a survey of its, er, 'users' trying to break down what it actually is. That's not gonna stop it becoming a beast of course. The number one utility for the majority of crypto users is being able to sell it for more than you paid for it.

[jbreher]

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012489.html

We are coming up on the subsidy halving this July, and there have been some
concerns raised that a non-trivial number of miners could potentially drop off
the network. This would result in a significantly longer block interval, which
also means a higher per-block transaction volume, which could cause the block
size limit to legitimately be hit much sooner than expected.
[...]
To alleviate this risk, it seems reasonable to propose a hardfork to the
difficulty adjustment algorithm so it can adapt quicker to such a significant
drop in mining rate. BtcDrak tells me he has well-tested code for this in his
altcoin

Hahahaha
Go go Core!

In all truthfulness, I have always wondered the reason for the 2016-block difficulty adjustment. A finer-grained adjustment seems just natural to me. Though I've never looked into it. What are the arguments against a more continuous adjustment?

(The four-year halving always seemed funny to me too. Done merely for simplicity of implementation?)

It could help a minority chain fork get some blocks solved while they're rolling out their PoW change...

Sorry - not following. Expanded explanation available?

Incidentally, the irony of Core calling for HF changes to the actual* consensus mechanism is not lost on me.

*I do not consider block size to be part of the fundamental consensus mechanism.

[ChartBuddy]

Coin



Explanation

[julian071]

All people are seeing with ETH is a rising number on an exchange. I'd love to see a survey of its, er, 'users' trying to break down what it actually is. That's not gonna stop it becoming a beast of course. The number one utility for the majority of crypto users is being able to sell it for more than you paid for it.

So the BTC price not doing well is like a self-fulfilling prophecy? Will it spiral down from here on?

[Fatman3001]

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-March/012489.html

We are coming up on the subsidy halving this July, and there have been some
concerns raised that a non-trivial number of miners could potentially drop off
the network. This would result in a significantly longer block interval, which
also means a higher per-block transaction volume, which could cause the block
size limit to legitimately be hit much sooner than expected.
[...]
To alleviate this risk, it seems reasonable to propose a hardfork to the
difficulty adjustment algorithm so it can adapt quicker to such a significant
drop in mining rate. BtcDrak tells me he has well-tested code for this in his
altcoin

Hahahaha
Go go Core!

In all truthfulness, I have always wondered the reason for the 2016-block difficulty adjustment. A finer-grained adjustment seems just natural to me. Though I've never looked into it. What are the arguments against a more continuous adjustment?

(The four-year halving always seemed funny to me too. Done merely for simplicity of implementation?)

I don't see why it should matters much. All the miners know about this. If they start fiddling with the halving parameters now, they're messing with the mining market.

If we had BIP101 we'd simply get slightly longer block times. Maybe they should rush that in instead.

[Chef Ramsay]

All people are seeing with ETH is a rising number on an exchange. I'd love to see a survey of its, er, 'users' trying to break down what it actually is. That's not gonna stop it becoming a beast of course. The number one utility for the majority of crypto users is being able to sell it for more than you paid for it.

So the BTC price not doing well is like a self-fulfilling prophecy? Will it spiral down from here on?

The Accumulator just moved roughly 1.4m ETH to an exchange. What usually happens next?

http://etherscan.io/address/0xd12cd8a37f074e7eafae618c986ff825666198bd

[xyzzy099]

If we had BIP101 we'd simply get slightly longer block times. Maybe they should rush that in instead.

FWIW, Gavin officially withdrew BIP101 from consideration a while ago:

BIP: 101
  Title: Increase maximum block size
  Author: Gavin Andresen <gavinandresen@gmail.com>
  Status: Withdrawn
  Type: Standards Track
  Created: 2015-06-22

https://github.com/bitcoin/bips/blob/master/bip-0101.mediawiki

[gentlemand]

So the BTC price not doing well is like a self-fulfilling prophecy? Will it spiral down from here on?

It's doing fine isn't it? albeit not much is happening.

I think what plenty are forgetting though is that many, many bitcoiners flocked to it because of profit potential. Maybe they slipped over into making actual use of it too but that's always in the back of plenty of minds. If there was something that looked like a dead cert elsewhere, not that ETH is that, then no shortage would make the leap. It would probably go up in smoke but there'd at least be some action for a while.

There surely will be some very muscular alts in the future with way more ammunition than the shite that's been floating around until now.