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Question: When will BTC get back above $70K:
7/14 - 0 (0%)
7/21 - 1 (0.8%)
7/28 - 11 (9.1%)
8/4 - 16 (13.2%)
8/11 - 7 (5.8%)
8/18 - 6 (5%)
8/25 - 8 (6.6%)
After August - 72 (59.5%)
Total Voters: 121

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26484794 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
Ted E. Bare
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May 25, 2016, 11:06:56 AM

Bitcoin Block Reward Halving Countdown:
Only 46 more days!
marcus_of_augustus
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Eadem mutata resurgo


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May 25, 2016, 11:11:30 AM

Is it just a coincidence that the big-block shills and trolls get into a shrill, shilling, ranting, rampage whenever bitcoin starts going up ... especially around chart resistance levels?

They might blow a gasket when it really starts to rally and Core improvements get rolled out uneventfully, smoothly upgrading capacity.

Not only will they be irrelevant they will be shown to be uselessly, worthlessly wrong ...
r0ach
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May 25, 2016, 11:15:55 AM
Last edit: May 25, 2016, 11:32:45 AM by r0ach




Which then leads into vomit inducing pump










May you all go broke, and burn in hell...



clopoterian
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May 25, 2016, 11:31:39 AM


No offense but you are an economic illiterate (we have all weak spot, myself I am bad at computer science and coding).

What you are saying about supply moving along with demand makes no sense whatsoever in the context of the blocksize limit. You don't understand what perfectly inelastic means, it means fixed with no way to moving it. In order to learn you first need to understand what you know and what you don't know.

I might not be expressing myself very well, but I know economics sufficiently well, and actually I had done quite a bit of work around various economic ideas in the past... so you seem to be making wrong assumptions about me.

  Currently, I am attempting to use layman's expressions to describe that there is no problem rather than getting caught up in technicalities in which you are suggesting various technicalities without explaining what you mean, so instead of suggesting that I don't know what I am talking about possibly you need to explain what you perceive is the problem.. and explain the problem because you are the one suggesting that there is a problem and that we should be concerned about it.  So the burden is on you to show the problem and to convince others about the problem that you perceive.  Such burden is not on me to identify the problem that you perceive.

 I am suggesting that behavior is going to change with a shrinking supply that will allow for sufficient and acceptable adapting that will be sufficient to manage while seg wit and any other changes are being implemented that may not include a blocksize limit increase, and you are suggesting that some unacceptable results will occur if the block limit is not increased.   Ultimately we disagree about impact and we also disagree about whether there is currently a problem... so it may not really matter whether I am using one term differently from you... because we are going to likely come to different conclusions.  I think that many people in this space understand the issues sufficiently and disagree on the means forward, and XT/classic supporters are still arguing about a case they lost... but don't want to give up.
   On the Circle

    1. Do not take offense at the following argument, for there is nothing offensive in it, unless one does not consider that the circle may be spoken of in a geometrical sense. If I say that the circle describes four identical radii, and you say: not four, but one, then we have a right to ask one another: why? But I don't want to talk about that kind of description of the circle, but of the perfect description of a circle.
    2. The circle is the most perfect flat figure. I am not going to say why in particular that is so. But this fact arises of itself in our consciousness in any consideration of flat figures.
    3. Nature is so created that the less noticeable the laws of formation, the more perfect the thing.
    4. Nature is also so created that the more impenetrable a thing, the more perfect it is.
    5. On perfection, I would say the following: perfection in things is a perfect thing. It is always possible to study a perfect thing or, in other words, in a perfect thing these is always something not studied. If a thing should prove to have been completely studied, then it would cease to be perfect, for only that which is incomplete is perfect -- that is to say the infinite.
    6. A point is infinitely small and thereby attains perfection, but at the same time it remains inconceivable. Even the smallest conceivable point would not be perfect.
    7. A straight line is perfect, for there is no reason for it not to be infinitely long on both sides, to have neither end nor beginning, and thereby be inconceivable. But by putting pressure on it and limiting it on both sides, we render it conceivable, but at the same time imperfect.
    If you believe this, then think on.
    8. A straight line, broken at one point, forms an angle. But a straight line which is broken simultaneously at all its points is called a curve. A curve does not have to be of necessity infinitely long. It may be such that we can grasp it freely at a glance and yet at the same time remain inconceivable and infinite. I am talking about a closed curve, in which the beginning and the end are concealed. And the most regular, inconceivable, infinite and ideal curve will be a circle.

Thoughts?
finkelsteinMonster
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May 25, 2016, 11:37:19 AM


Bon Appetit!
becoin
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May 25, 2016, 11:38:25 AM

Thoughts?
Buy bitcoin!
Paashaas
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May 25, 2016, 12:49:11 PM

Even after the MT-Gox fiasco, Bitcoin is still a rising star in Japan. Regulated BTC exchanges underway within 1 year.

http://www.newsbtc.com/2016/05/25/japan-exchange-bitcoin-regulations/
finkelsteinMonster
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May 25, 2016, 01:01:25 PM

Even after the MT-Gox fiasco, Bitcoin is still a rising star in Japan. Regulated BTC exchanges underway within 1 year.
This is gonna be H U G E!!!
Almost like Gemini and Coinbase, but in Japan!
https://d21ii91i3y6o6h.cloudfront.net/gallery_images/from_proof/5103/large/1429026695/to-the-moon.png
AlexGR
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May 25, 2016, 01:25:44 PM

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).


It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.
So why the price is stagnating and VC investment is decreasing? Sure you computer geeks folks are cleverer than all the economic minded people on the planet.

"Economic minded people" = the only model they understand is one of centralization, trust and counterparties. Trustless peer to peer economy is a foreign concept. Some people who think they understand "economics" by insisting on turning a decentralized system into a centralized one, simply don't get what Bitcoin is about.

Client-server databases are better for centralized systems. You don't need inefficient blockchains to do this work in a centralized manner.

As for price movement, what I'm seeing is a lot of big-blockers bitching "blocks are full, it's impossible to move upwards" since we were in 200, in 300, in 400, etc etc and we are currently at 450. Why? Because the market, unlike some idiot bigblockers who try to pin-down price correlations with small or big blocks, full or not full blocks, is expecting that the system will be responsibly upgraded, in time, when it is necessary, with all the surrounding work being done.

The market only reacted negatively in the two reckless attempts to fork bitcoin in to two currencies - a precedent that would have been extremely problematic.
Elwar
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May 25, 2016, 01:43:25 PM

So looks like we're holding steady with $1.6 million worth of fiat coming in on a daily basis.

After the halving we will not see that amount daily until the price is $900.
SomaliRebel
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May 25, 2016, 02:01:04 PM
Last edit: May 25, 2016, 02:28:39 PM by SomaliRebel

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).


It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.
So why the price is stagnating and VC investment is decreasing? Sure you computer geeks folks are cleverer than all the economic minded people on the planet.

"Economic minded people" = the only model they understand is one of centralization, trust and counterparties. Trustless peer to peer economy is a foreign concept.

Well no, economic models tend to account for centralization, trust, and counterparties. Amongst other things. The most discriptive/predictive ones tend to get complex, with maths and stuff.
You, of course, reject them because
1. Decentralization itself is your objective (as opposed to maximizing wealth, knowledge, hippy stuff, etc.). If a model leads to solutions which do not require decentralization, into the trash it goes. Like rating cake recipes by the amount of Drano used. Angel food cake doesn't use Drano decentralization? Bad cake!
2. You simply don't understand conventional economics.

Quote
Some people who think they understand "economics" by insisting on turning a decentralized system into a centralized one, simply don't get what Bitcoin is about.
If Bitcoin is about maximizing the use of Drano decentralization, you're right. Some people see blockchains as interesting data structures, and play with them/try to adopt them to their needs. Naturally, they're starting to distance themselves from Bitcoin due to militant, dogmatic zealots like you.

Quote
Client-server databases are better for centralized systems. You don't need inefficient blockchains to do this work in a centralized manner.
Perhaps. But that's no reason for you to be upset Smiley
r0ach
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May 25, 2016, 02:29:00 PM

If Bitcoin is about maximizing the use of Drano decentralization

The purpose of Bitcoin is to escape the system of neo-feudalism through usury that exists via fractional reserve fiat currencies.

Don't want to be a slave?  Don't use money designed for slaves.

Debt based, fiat usury, federal reserve notes also cease to function and implode without an infinite growth model.

Syke
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May 25, 2016, 02:35:29 PM

So looks like we're holding steady with $1.6 million worth of fiat coming in on a daily basis.

Assuming all mined coins are soon sold. I wonder how long coins typically sit in their original address...
Elwar
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May 25, 2016, 02:38:00 PM

So looks like we're holding steady with $1.6 million worth of fiat coming in on a daily basis.

Assuming all mined coins are soon sold. I wonder how long coins typically sit in their original address...

The bears tend to throw out those big numbers to scare us: "3600 bitcoins are being cashed out every day to pay for electricity!!?!!!$!!"

Now they can eat their words.
finkelsteinMonster
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May 25, 2016, 02:55:31 PM

If Bitcoin is about maximizing the use of Drano decentralization

The purpose of Bitcoin is to escape the system of neo-feudalism through usury that exists via fractional reserve fiat currencies.
http://s33.postimg.org/wvf6ca89r/diversity1.jpg
Don't want to be a slave?  Don't use money designed for slaves.
http://s33.postimg.org/qcwftl8pr/bambifollo2.gif

Debt based, fiat usury, federal reserve notes also cease to function and implode without an infinite growth model.

http://s33.postimg.org/wfmg31qov/bitcoiner.png

You ain't getting away so easy, c0ckroach. We see you Angry
r0ach
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May 25, 2016, 03:05:45 PM

Latest news on the Ethereum pump and dump scamcoin:



No other exchanges followed the BTC manipulation movements because everyone already knows what these Eth scammers are doing.
SomaliRebel
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May 25, 2016, 03:16:42 PM

That 450 is like a gazillion volt electric cattle fence: One touch and bzzzrrrrp! ouchies!
owell, there's always the next time Smiley
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May 25, 2016, 03:36:27 PM

Good morning Bitcoinland.

Looks like we're right where we were yesterday, scrapping over $450.



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May 25, 2016, 03:50:02 PM

https://www.cryptocoinsnews.com/breaking-tokyo-trustee-completes-review-mt-gox-claims/
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Free trial of #AltFolio = save time, react faster


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May 25, 2016, 04:19:06 PM


Newbium WOB preview

Proudly presenting a new tool, which -e.g. for Bitcoin-
is aggregating all available orderbook data from
52 markets in 13 currencies on 27 exchanges.


(click for larger)


We call the approach WOB = "world order book".
Already working & useful, within our Newbium beta (preview).

WOB Explanations: pt1 and pt2



--> Medium Blog, and Whitepaper (8 levels are planned) --> chat (soon)
--> fully functional  Preview beta: WOB within MVP (minimum viable product) for "view live data + trade"
--> Crowdsale (ends May 31st), with Affiliate Program - please use this link, thx.


Really interested to hear your opinion!
Perhaps PM me geeky questions, and we later publish a summary.

 Wink

Edit: retweet - thx.
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