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

[JayJuanGee]

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.

By now, we should all realize some things regarding Bully JoeAllen. 1)  In essence, we are never getting rid of BJA - he whines and whines, and whether the price goes up to $500, $1000 or any other purported "exit" target, he's not leaving.   We should be so lucky as to have him leave, but he won't no matter how much he says that he will. 2) He's not really capable of being calm. He's emotional, and he seems to need a lot of attention.  3) He lives in a bit of a fantasy world.  He wants to imagine some better place out there, but when push comes to shove, he cannot identify 1 other place to put his money that is better than bitcoin.... Yeah, he talks about lending dollars and BTC and blah blah blah.. but in the end, he cannot identify any better place to put his money... so he is going to stay... and nag us all the way past $100k BTCs, if we all live that long?

[AlexGR]

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

Excellent interview. He nailed it on multiple fronts.

[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.

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)

Classic code gets tested on testnet the same as Core code.  There is no way of knowing how vulnerable ANY code is to hazards that are not uncovered by testing. Of course there are risks, but there are risks to doing nothing also. I am not a programmer or a cryptographer. I am a student of economic theory. It is there where my concerns lay. Bitcoin may or may not have the safest or more accurately least unsafe blockchain, but it does unquestionably have the oldest and longest chain. That's it's value and firstmover advantage. The size of the blockchain is Bitcoin's greatest asset and smallblockers and Core are treating it as a liability.  That indicates they don't even understand the very thing they are trying to safeguard.

We shouldn't care just what the cost to nodes are of a larger chain. We should care about the RELATIVE cost is considering the value of the network they are securing.  Likewise we shouldn't care if miners are getting compensated enough bitcoin to secure the network. We should care if they are given enough value in fiat terms to secure the network.  It's meaningless to argue over fees vs. subsidy without also taking exchange price into account.

Leading libertarians and anarchocapitalists is like herding cats and Core developers are no different. I know it would be difficult for anybody to do, but it must be done or Bitcoin will either die or fade into obscurity. There are few barriers to entry into this market and competitors are coming on fast. I'm not saying Code development needs rulers. It needs leaders that can forge consensus, and Mow is completely wrong when he says we have one. What we have is a roadmap that some are are reluctantly for, some are against, and some say they are for while they secretly are working to undermine it. What's worse is that even if the roadmap gets implemented, it may be too little too late. 

Classic is not looking to permanently replace Core. Classic supporters like me want greater on-chain scalability and we don't much care how we get it. So if Classic motivates Core to act, then it's a success. If it becomes the most commonly used client, then we know that will only be the case for as long as it enjoys sufficient support. Governance that is never threatened is unaccountable.  That's the hard truth that smallblockers can't seem to accept. Accountability and stability are inversely proportional.  It's a trade-off, so pick your poison.

[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?

In the past 6 hours since the earlier above post, the Stamp price has pretty much been hovering in the $415-$416 range.

I just noticed that the $416.50 wall was pulled and not at all eaten, and as I type BTC prices still remain in this same $415-$416 range.


UP?

DOWN?

At the moment, I put a little bit more odds on up... maybe 55% up and 45% down.

[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.

keep calm, stay tuned. everything will be fine.

By now, we should all realize some things regarding Bully JoeAllen...  He wants to imagine some better place out there, but when push comes to shove, he cannot identify 1 other place to put his money that is better than bitcoin....

If there is no good place to park money, the option is always available to spend it instead. That option is looking more and more attractive to me every day.

[JayJuanGee]

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.

By now, we should all realize some things regarding Bully JoeAllen...  He wants to imagine some better place out there, but when push comes to shove, he cannot identify 1 other place to put his money that is better than bitcoin....

If there is no good place to park money, the option is always available to spend it instead. That option is looking more and more attractive to me every day.

Nothing wrong with spending money, especially if you are going to (or may) die soon.

I think that a lot of us have goals to accumulate money as we get old, but we also have to balance such a goal because we do not want to die before we have an opportunity to spend the money that we have accumulated, and also sometimes there will be some value in spending some of such money while we have enough energy (youth) to get utility out of the accumulation that we have accomplished.

People are going to be at differing stages of such accumulation, and maybe even having a goal of having a passive income off of the amount that has accumulated. 

[QuestionAuthority]

So does anyone ever talk about price movements in this thread anymore?

Seems to be getting closer but I just can't manage to touch it.

[AlexGR]

So does anyone ever talk about price movements in this thread anymore?

Sure... when there are price movements

In other news (Microsoft): http://bitcoinwarrior.net/2016/03/microsoft-confirms-commitment-support-bitcoin/

"“We continue to support bitcoin for adding money to your Microsoft account which can be used for purchasing content in the Windows and Xbox stores,” Microsoft said in an emailed statement to International Business Times. “We apologize for inaccurate information that was inadvertently posted to a Microsoft site, which is currently being corrected.”"

--

(global ping-app with BTCs)

http://www.coindesk.com/21-proof-concept-bitcoin-iot/

"However, with the Ping21 service, a webmaster could issue a single command and receive the uptime and status of their website in dozens of countries.

Rather than paying the hundreds of dollars for a subscription, the cost per ping would drop significantly, the company said. By utilizing its recently launched Micropayments Marketplace, a client can submit a request to the network along with bitcoin for payment."

[aminorex]

So does anyone ever talk about price movements in this thread anymore?

Seems to be getting closer but I just can't manage to touch it.

Monkey doesn't expect much movement, but says it should be mostly upward, what there is, barring some catalyst.  The current weekly uptrend should end pretty soon, then mostly sideways, maybe a small correction, before a stronger uptrend begins, lasting about 3 months.

[PoolMinor]

So does anyone ever talk about price movements in this thread anymore?

Seems to be getting closer but I just can't manage to touch it.

Monkey doesn't expect much movement, but says it should be mostly upward, what there is, barring some catalyst.  The current weekly uptrend should end pretty soon, then mostly sideways, maybe a small correction, before a stronger uptrend begins, lasting about 3 months.

Monkey needs help in forecasting...

The short right now is the good option. I would set bids at 350-375 and even lower if given the chance.

The issue is still the same slow block rates due to "attacks" on the network show value diminishing. 45 minutes between blocks is acceptable once in a while, but this seems to occur more and more frequent lately Maybe it's just me?.

Meanwhile the obvious lack of volume coupled with the "arm of death" on the TA seems also a good indicator. But don't take it from me, this is just my opinion. I know usually I just post pics here, but whatever.



-PoolMinor

[dropt]

So does anyone ever talk about price movements in this thread anymore?

Seems to be getting closer but I just can't manage to touch it.

Monkey doesn't expect much movement, but says it should be mostly upward, what there is, barring some catalyst.  The current weekly uptrend should end pretty soon, then mostly sideways, maybe a small correction, before a stronger uptrend begins, lasting about 3 months.

Monkey needs help in forecasting...

The short right now is the good option. I would set bids at 350-375 and even lower if given the chance.

The issue is still the same slow block rates due to "attacks" on the network show value diminishing. 45 minutes between blocks is acceptable once in a while, but this seems to occur more and more frequent lately Maybe it's just me?.

Meanwhile the obvious lack of volume coupled with the "arm of death" on the TA seems also a good indicator. But don't take it from me, this is just my opinion. I know usually I just post pics here, but whatever.



-PoolMinor

What on earth are you talking about? This reads like you're implying mempool size has something to do with time between blocks. 

[PoolMinor]

So does anyone ever talk about price movements in this thread anymore?

Seems to be getting closer but I just can't manage to touch it.

Monkey doesn't expect much movement, but says it should be mostly upward, what there is, barring some catalyst.  The current weekly uptrend should end pretty soon, then mostly sideways, maybe a small correction, before a stronger uptrend begins, lasting about 3 months.

Monkey needs help in forecasting...

The short right now is the good option. I would set bids at 350-375 and even lower if given the chance.

The issue is still the same slow block rates due to "attacks" on the network show value diminishing. 45 minutes between blocks is acceptable once in a while, but this seems to occur more and more frequent lately Maybe it's just me?.

Meanwhile the obvious lack of volume coupled with the "arm of death" on the TA seems also a good indicator. But don't take it from me, this is just my opinion. I know usually I just post pics here, but whatever.



-PoolMinor

What on earth are you talking about? This reads like you're implying mempool size has something to do with time between blocks.  

Sorry to be ambiguous, I was in a roundabout way saying that one influences the other. More specifically saying some of peoples transactions have been being delayed by the spam attacks, therefore putting certain risks into the factoring of movement of money.  

[JayJuanGee]

So does anyone ever talk about price movements in this thread anymore?

Seems to be getting closer but I just can't manage to touch it.

Monkey doesn't expect much movement, but says it should be mostly upward, what there is, barring some catalyst.  The current weekly uptrend should end pretty soon, then mostly sideways, maybe a small correction, before a stronger uptrend begins, lasting about 3 months.

Monkey needs help in forecasting...

The short right now is the good option. I would set bids at 350-375 and even lower if given the chance.

The issue is still the same slow block rates due to "attacks" on the network show value diminishing. 45 minutes between blocks is acceptable once in a while, but this seems to occur more and more frequent lately Maybe it's just me?.

Meanwhile the obvious lack of volume coupled with the "arm of death" on the TA seems also a good indicator. But don't take it from me, this is just my opinion. I know usually I just post pics here, but whatever.



-PoolMinor

What on earth are you talking about? This reads like you're implying mempool size has something to do with time between blocks. 

I think he's either in lala land if he believes that we are easily going down to $370 or lower or on the other hand maybe he didn't buy back in and is engaging in wishful thinking.

[molecular]

keep calm, stay tuned. everything will be fine.

Just go shopping, we got this?

[molecular]

keep calm, stay tuned. everything will be fine.

you sound like the city loudspeaker voice in a bad 1984 movie or something.

[Sturgeon]

long term..? $500 again..?
stay tuned 

[keewee]

Interesting discussion re: segwit here: https://bitcointalk.org/index.php?topic=1398994.0

[BlindMayorBitcorn]

Interesting discussion re: segwit here: https://bitcointalk.org/index.php?topic=1398994.0

What a mess. 

[Elwar]

Interesting discussion re: segwit here: https://bitcointalk.org/index.php?topic=1398994.0

Wow...development discussion taking place in the Development & Technical Discussion subforum instead of every thread.

That is interesting!

[simmo77]

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.

Shit or get off the pot FFS