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

[Ibian]

400 held. All is well, carry on.

[nicked]

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Explanation

Mempool and price could reach parity soon.

[BlackSpidy]

Man, and I was hoping to open a margin long at 399.99, oh well. I have a feeling that this was the last dip. Everyone strap in for a pre-halving bubble, beginning within the next 3 months.

[iCEBREAKER]

https://medium.com/@barmstrong/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf#.pscurkusv

Brian Armstrong speaks, and the price retreats.

Like clockwork.  Every single time.

[ChartBuddy]

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Explanation

[Cconvert2G36]

The truth hurts.

Not really fatal tho, unless you rush into the arms of your captors, repeatedly. Bitcoin crippled, Monero UP!

Monero has an adaptive blocksize, so now you know.  

[ChartBuddy]

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Explanation

[ChartBuddy]

Coin



Explanation

[Searing]

https://medium.com/@barmstrong/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf#.pscurkusv

Brian Armstrong speaks, and the price retreats.

Like clockwork.  Every single time.

Yeah....my powers on such only work with Women. ..... I speak ....they retreat..... Every single time.

(then again the lack of a life is why I got into BTC..so hey.....if BTC ever gets back to $1000 usd a coin...I'm pretty sure for some

'unexplained' reason...I'd get a LOT more attractive. Go figure? ?

[ChartBuddy]

Coin



Explanation

[ChartBuddy]

Coin



Explanation

[ChartBuddy]

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Explanation

[BitconAssociation]

Going down, going down now,
Going down, going down now
    Cryin' won't help you, prayin' won't do you no good
Going down, going down now,
    Now, cryin' won't help you, prayin' won't do you no good
Going down, going down now,
    When the levee breaks, mama, you got to move
Going down, going down now,
Going down, going down now,

[BitconAssociation]

Good thing about the blocksize debate is that node count is increasing.
At 7000 nodes now, compared to about 5000 nodes a month ago.

*6000 nodes, if you don't count multiple nodes on single IP. Node count will drop again when/if debate is over.
Good morning

[ChartBuddy]

Coin



Explanation

[AlexGR]

The truth hurts.

Not really fatal tho, unless you rush into the arms of your captors, repeatedly. Bitcoin crippled, Monero UP!

Monero has an adaptive blocksize, so now you know.  

The adaptive blocksize in itself is a security weakness without substantial fees. A spammer can easily make the system "adapt" to his ever increasing demands to spam it for near-zero cost and destroy it. Plus network propagation and block validation has a certain time required, you cannot go to infinity just because someone is spamming it.

So, when the time came for such a spam scenario, "central intervention" by the devs happened and they raised the fees quite higher to make every tx much more expensive.

So the solution for Monero, wasn't the adaptive blocksize (it was broken unto itself, if you expected the "market" or the "miners" to determine the fees) => but the centrally imposed fees.

Likewise Bitcoin could have 4mb blocks tomorrow morning, if, say, every tx was bumped to something like 10 cents minimum. This, by itself, would probably have us at <500kb block use right away by eliminating dust & spam, with an 8x expansion space up to 4mb.

[tyz]

Thanks, really interesting insights. What me makes a little bit worried are these stages of his blog post.

"The next block reward halving is coming up in July. Let’s say that miners on average are able to mine a coin for $250 (I don’t know the exact number, so this is a guess). After the halving in July their cost to mine a coin will double to $500. If the bitcoin price stays around $425, it will be unprofitable for a number of miners to continue mining.
The implication of this is that we could see a reduction of hashing power on the network at the July halving date. Perhaps in the range of 10–50% (I don’t have a good way to estimate this, if anyone does please post it).
In a worst case, let’s say that 50% of hashing power turns off at the block halving because it is no longer profitable for those miners. This would mean that we start getting blocks mined every 20 minutes on average instead of 10 minutes. But blocks are already 70% full today. If the average confirmation time goes to 20 minutes, it means that we will be at 140% of capacity on every block, and start accumulating a backlog."

https://medium.com/@barmstrong/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf#.pscurkusv

Brian Armstrong speaks, and the price retreats.

Like clockwork.  Every single time.

[JayJuanGee]

https://medium.com/@barmstrong/what-happened-at-the-satoshi-roundtable-6c11a10d8cdf#.pscurkusv

Brian Armstrong speaks, and the price retreats.

Like clockwork.  Every single time.

Yeah....my powers on such only work with Women. ..... I speak ....they retreat..... Every single time.

(then again the lack of a life is why I got into BTC..so hey.....if BTC ever gets back to $1000 usd a coin...I'm pretty sure for some

'unexplained' reason...I'd get a LOT more attractive. Go figure? ?

I think so, too.    Guys will certainly become much more attractive and interesting to the chiquitas with bitcoins at $1,000; however, I am thinking that the next bitcoin bubble, once we get there, is going to shoot into the $3k to $5k territory.... It's just a matter of when, and if we will all still be alive by then and still able to provide peanut services to each of the chiquitas who become more interested in us (for our various "qualities").

[Dotto]

Im looking exactly at 3 unmentionable coins that are goin to receive the 10% of my stash. What are you thinking rite now?

Which ones?

Maid, monero and eth. I transfered 10% of my holdings to polo, but finally I decided to wait for retracements. Wrong, today all them are between +10 and +24%

I keep some moneros from 2014, thought

[AlexGR]

The truth hurts.

Not really fatal tho, unless you rush into the arms of your captors, repeatedly. Bitcoin crippled, Monero UP!

Monero has an adaptive blocksize, so now you know.  

The adaptive blocksize in itself is a security weakness without substantial fees. A spammer can easily make the system "adapt" to his ever increasing demands to spam it for near-zero cost and destroy it. Plus network propagation and block validation has a certain time required, you cannot go to infinity just because someone is spamming it.

So, when the time came for such a spam scenario, "central intervention" by the devs happened and they raised the fees quite higher to make every tx much more expensive.

So the solution for Monero, wasn't the adaptive blocksize (it was broken unto itself, if you expected the "market" or the "miners" to determine the fees) => but the centrally imposed fees.

Likewise Bitcoin could have 4mb blocks tomorrow morning, if, say, every tx was bumped to something like 10 cents minimum. This, by itself, would probably have us at <500kb block use right away by eliminating dust & spam, with an 8x expansion space up to 4mb.

Don't worry, I'm not buyin' castle fun bux. Just filthy foldin' money for me these last few months.

I'm not worried. Just pointing out the obvious pattern:

"Oh I can't tolerate BTC that has a fee market, it's unacceptable if fees go up, the solution to spam can't be to make txs more expensive" => "let's buy some altcoin which does exactly that and claim we are diversifying from the 'dangers' of BTC"... lol?

Why is it unacceptable for BTC to have high fees and for altcoins to have high fees to combat spam?
Why is it more acceptable if altcoins do that by "central planning" while bitcoin's fees are actually determined by the market itself - depending the load on any given moment?
How can "adaptive blocksize" be considered a better solution when it can't work without central planning on fees? It failed monero, so why is it touted as a better solution?

We can be throwing shit all day to BTC, but to change the negatives and spin them to positives and vice versa is just propaganda.