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

[JayJuanGee]

So whats up with the huge walls on Stamp again the past couple of days?  I see a wall of 1000 coins right now.  

Strangely I take that as a bullish sign.  Someone is trying to keep the price down perhaps?

Your last two sentences contradict each other...., almost....    


Mostly, I subscribe to the first sentence.......  with the understanding that frequently walls are put up in order to be pulled.


1000 coins at $416.50... let's see how long it lasts....

I believe that the price pressure is slightly inclined towards upwards, at the moment.


The $416,536 question:   Will the wall get eaten, or pulled?

[600watt]

Bitcoin is not even attempting to do what ETH does.

Not true. Rootstock is doing it better because it is using the safest blockchain on this planet - the bitcoin blockchain.

The safest? With supermajority mining hardware within the political boundaries of the People's Republic of China?  That's like saying you're swimming in the safest pool except for that one giant shark.

what blockchain is the safest in your opinion? sepa? 

[blunderer]

^^
SEPA is not a blockchain, it's some_weird_shit_Europeans_do.
Asking which blockchain is the safest should be qualified: safest for what & for how long.

[600watt]

^^
SEPA is not a blockchain, it's some_weird_shit_Europeans_do.
Asking which blockchain is the safest should be qualified: safest for what & for how long.

i was trying to make a joke.

[billyjoeallen]

Bitcoin is not even attempting to do what ETH does.

Not true. Rootstock is doing it better because it is using the safest blockchain on this planet - the bitcoin blockchain.

The safest? With supermajority mining hardware within the political boundaries of the People's Republic of China?  That's like saying you're swimming in the safest pool except for that one giant shark.

China is the nowadays 'factory of the world'. Supermajority of every hardware is produced there. There is no reason why Bitcoin mining hardware should be an exception. It is a good counter balance to the supermajority of bitcoin software developers living within the political boundaries of the United States of America and they all can be arrested by FBI in 5 minutes!

It doesn't matter where it's produced. It matters where it is. It matters that it can be confiscated/nationalized, and then used to execute a series of 51% attacks and force us to fork to a different encryption algorithm that would initially have almost no hashpower.  In a competitive marketplace, it can kill us, and it can happen anytime the PRC wants to do it. The only reason they haven't yet is because we are too small to bother with. As soon as that stops being true, such a fatal attack is almost inevitable.

The bigger BTC's market cap, the bigger target we are. Damn pumpers are gonna pump us out of existence.

[bargainbin]

^^
SEPA is not a blockchain, it's some_weird_shit_Europeans_do.
Asking which blockchain is the safest should be qualified: safest for what & for how long.

i was trying to make a joke.

Yeah, me too, but the second part's almost a real question. Some bitcoin enthusiasts seem to think that "the most secure indelible ledger" is mankind's holy grail. It's not. A curios, absurdly inefficient data structure, costing millions a day to secure, and all ...for what? Well. I just don't understand it.

[billyjoeallen]

So whats up with the huge walls on Stamp again the past couple of days?  I see a wall of 1000 coins right now. 

Strangely I take that as a bullish sign.  Someone is trying to keep the price down perhaps?

Walls can be pulled. The order book is a spotty indicator at best. What is more relevant are the coins bought and sold with leverage. These coins have to be, MUST be traded for fiat. On BFX, there is currently almost $26MM in leveraged longs (62,000 BTC)vs. ~10,600 leveraged shorts, or roughly a six to one ratio. That is extremely bearish unless you think that people who don't have enough money to buy BTC without leverage are somehow smarter and better informed than those who do.

[600watt]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

[marcus_of_augustus]

... only 17,000 blocks until halvening 

[JayJuanGee]

... only 17,000 blocks until halvening 

Ok. chart buddy wanna be.   

[BlindMayorBitcorn]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

He's redeemed himself a bit here. Now all he has to do is stay off Twatter.

[Gyrsur]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

thank you for this! my impressions is he is telling the truth.

Core is a very diverse group of individual volunteers as well as companies that donate the time from their employees. There are also a lot of differing opinions within the group. They can't simply react to people's feedback – there's no mechanism. It's just a bunch of guys that want to write code and solve problems pertaining to Bitcoin. There's no one in charge.

[billyjoeallen]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

No, it's not dishonest. It's stupid. He is saying a ship sails better with no captain, just randomly floating with the tides, winds and currents and whatever the sailors feel like doing at any given time.  He dismisses the concerns of the passengers, who don't just want to avoid icebergs and pirates, but actually have specific places to go.

Many of us are now just looking for a good opportunity to get off this floating madhouse.

[Gyrsur]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

No, it's not dishonest. It's stupid. He is saying a ship sails better with no captain, just randomly floating with the tides, winds and currents and whatever the sailors feel like doing at any given time.  He dismisses the concerns of the passengers, who don't just want to avoid icebergs and pirates, but actually have specific places to go.

Many of us are now just looking for a good opportunity to get off this floating madhouse.

this how Open Source works? it's new for you? eat it or leave it.

[marcus_of_augustus]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

No, it's not dishonest. It's stupid. He is saying a ship sails better with no captain, just randomly floating with the tides, winds and currents and whatever the sailors feel like doing at any given time.  He dismisses the concerns of the passengers, who don't just want to avoid icebergs and pirates, but actually have specific places to go.

Many of us are now just looking for a good opportunity to get off this floating madhouse.

god, when will you finally jump?! so full of shit it's almost unbearable.

[billyjoeallen]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

No, it's not dishonest. It's stupid. He is saying a ship sails better with no captain, just randomly floating with the tides, winds and currents and whatever the sailors feel like doing at any given time.  He dismisses the concerns of the passengers, who don't just want to avoid icebergs and pirates, but actually have specific places to go.

Many of us are now just looking for a good opportunity to get off this floating madhouse.

this how Open Source works? it's new for you? eat it or leave it.

It's not new. I bought in at ~$10 when Gavin was in charge and saw the value of my investment appreciate several thousand percent. Since Wladimir took over, there has been a bump of <100% due almost exclusively to third world ponzi schemers.  Other than that, it's a complete disaster.  

If there is another serious test of $500 resistance, I will indeed get out and I won't ever come back unless there is a change in governance at a minimum.  I'm looking for that safe port to disembark.

[Gyrsur]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

No, it's not dishonest. It's stupid. He is saying a ship sails better with no captain, just randomly floating with the tides, winds and currents and whatever the sailors feel like doing at any given time.  He dismisses the concerns of the passengers, who don't just want to avoid icebergs and pirates, but actually have specific places to go.

Many of us are now just looking for a good opportunity to get off this floating madhouse.

this how Open Source works? it's new for you? eat it or leave it.

It's not new. I bought in at ~$10 when Gavin was in charge and saw the value of my investment appreciate several thousand percent. Since Wladimir took over, there has been a bump of <100% due almost exclusively to third world ponzi schemers.  Other than that, it's a complete disaster.  

If there is another serious test of $500 resistance, I will indeed get out and I won't ever come back unless there is a change in governance at a minimum.  I'm looking for that safe port to disembark.

keep calm, stay tuned. everything will be fine.

[Morecoin Freeman]

Just leave you will not be missed.

[Tzupy]

...
If there is another serious test of $500 resistance, I will indeed get out and I won't ever come back unless there is a change in governance at a minimum.  I'm looking for that safe port to disembark.

Another serious test of 500$ resistance would break it, and then better wait for 650$ to get out...
Of course, I am counting on a failed test to break 450$, and then a nice crash.

[600watt]

https://bitcoinmagazine.com/articles/btcc-s-sampson-mow-on-block-size-the-bitcoin-community-must-see-through-manipulation-keep-calm-and-write-code-1458061357



hm... interesting. helped me understanding core a little bit better. or is he telling bullshit?

No, it's not dishonest. It's stupid. He is saying a ship sails better with no captain, just randomly floating with the tides, winds and currents and whatever the sailors feel like doing at any given time.  He dismisses the concerns of the passengers, who don't just want to avoid icebergs and pirates, but actually have specific places to go.

Many of us are now just looking for a good opportunity to get off this floating madhouse.

i had come to the conclusion before that blocksize limit had to be raised fast and frequently. i did not understand for fuck sake, why core didn´t act. then came the blockstream narrative. those guys are on payrolls, they want to make a buck with new layers, crippling the original layer. ok, maybe. (i always thought new possible layers were welcomed and cheered by everyone). this interview made it easier for me to understand why core is so inert, almost academic.

and now you are saying that this is stupid. do i understand you right that the way bitcoin was maintained in the last 3 years was/is stupid, because there is no captain? you want another way of "governing" bitcoin. that is legitimate. as far as i understood it, there is none. do you believe the classic team will write safer code?

(edit)