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

[dumbfbrankings]

When's ETH make the switch to POS? There should be a moment of popcorn.

2017, apparently.

Can you trust 15 second confirmations?

Obviously less than one 10 min BTC confirmation, but it's nice to have a continuum vs waiting 30 min for an unlucky Bitcoin block.

But there has got to be a lot of issues caused by the 15 second block times. It just sounds so unstable for me. Also doesn't that cause a lot of bloat?
Didn't lighting network promise instant off chain confirmations? Wouldn't that make eths 15 sec block timer even more stupid?

Do people need contracts to be on the ledger?
How efficient are the "decentralized" contracts compared to "centralized" contracts offered by rootstock/conterparty?

I'm not sure, but if they want to, they'll pay the gas costs.

But how cost efficient is ethereums contract platform compared to its competitors? Wouldn't it be better for a business to run its contracts on the cheapest platform to keep costs to a minimum?

Which would be pretty damn bad. Something that isn't so easy with a couple hundred thousand GPU's scattered across the world.

Because people don't start warehouses full of GPU's for a business.
I know mining is more accessible to home miners with GPU mining. But that doesn't change the fact that people are going to try to scale their operations. Does it matter if people have warehouses full of bitcoin asics or Graphics cards (bob who has one gpu hashing at ether can vote, but his vote still isn't as important as wing-wang-wongs warehouse)

Obviously there are technological and practical limits but I'm pretty sure that 1MB isn't the magic number. I like the concept of Bitcoin Unlimited, a decentralized method of arriving at a schelling point for maxblocksize. It doesn't just mean "Accepts Unlimited Block Size" if that's what you think/have been told.

I bet it isn't going to stay at 1mb forever.
The thing is no one knows what the magic number is.

Also why isn't there any support behind Bitcoin unlimted? It seems like a solid proposal, yet no miner is willing to get behind it. What's wrong with it?

You raise some good points above. I see ETH as a hedge to BTC's fear/capture around the issue of native growth, not as a turn key replacement.

As for Bitcoin Unlimited and mining support? Miners entered an agreement, with what was thought to be representatives from "blockstream" and "core".  To not run "incompatible" software for the "foreseeable" future. As luke-jr now thinks a HF is 5 years away... and no problem for 1 to 2 years... I see some conflict brewing.

[BlindMayorBitcorn]

ETH's got loads of keeners at the moment mining with GPU's or whatever, but once POS hits the whole ballgame changes. I wouldn't want to be around for the switch.

[TERA]

Holy bfx walls this is insane. The bid depth has doubled in the past month and there is a gox-style wall formation guarding 650. Meanwhile the ask has stopped its aggressive refilling and was down to 3K at one point during the rally.

[inca]

Insane how?

[USB-S]

ETH's got loads of keeners at the moment mining with GPU's or whatever, but once POS hits the whole ballgame changes. I wouldn't want to be around for the switch.

It's like they are killing themselves by taking away all the work from themselves. I didn't know such thing was possible

[marcus_of_augustus]

ha, ethereum is the Federal Reserve debt notes system re-incarnated ... increase forever funny money controlled by the 'all-knowing and wise' central committee and Chairman Buterin with the final word.

Vitalik is basically Janet Yellen, without the wig.

[TERA]

Insane how?

The bid depth has grown 115% in the past few weeks while the price grew 50% and I think it's at a record level for that exchange.

[marcus_of_augustus]

[TERA]

ha, ethereum is the Federal Reserve debt notes system re-incarnated ... increase forever funny money controlled by the 'all-knowing and wise' central committee and Chairman Buterin with the final word.

Vitalik is basically Janet Yellen, without the wig.

With the speed at which Microsoft adopted Ethereum after 1 year, while completely ignoring Bitcoin for 7 years, I wouldn't be surprised if Vitalik Buterin was in bed with Microsoft, who is in bed with the CIA/NSA, and he's ready to hand over control to Hilary Clinton when the time comes. It basically could be a grab of Bitcoin users and market share to migrate over to a system in their control.

[dumbfbrankings]

ha, ethereum is the Federal Reserve debt notes system re-incarnated ... increase forever funny money controlled by the 'all-knowing and wise' central committee and Chairman Buterin with the final word.

Vitalik is basically Janet Yellen, without the wig.

With the speed at which Microsoft adopted Ethereum after 1 year, while completely ignoring Bitcoin for 7 years, I wouldn't be surprised if Vitalik Buterin was in bed with Microsoft, who is in bed with the CIA/NSA, and he's ready to hand over control to Hilary Clinton when the time comes. It basically could be a grab of Bitcoin users and market share to migrate over to a system in their control.

Well if it's a tinfoil party...

Now we must ask why Blockstream, largest investor= insurance giant AXA... CEO of which is chairman of the bilderberg group (no joke)... is complicit in driving Bitcoin's potential userbase to ETH:

[TERA]

The tinfoil hat is out of style

[spooderman]

tera, got any TA for us?

[USB-S]

We need to enhance!



How could we have been so blind?!?!

[TERA]

Most of the TA looks bullish, especially in China. Any bearish thoughts I have are based on fundamentals and superstitions which I won't go into tonight.

[mymenace]

Holy bfx walls this is insane. The bid depth has doubled in the past month and there is a gox-style wall formation guarding 650. Meanwhile the ask has stopped its aggressive refilling and was down to 3K at one point during the rally.

still waiting

waiting for that volume

target 700


eat those walls nom nom nom

[mymenace]

ha, ethereum is the Federal Reserve debt notes system re-incarnated ... increase forever funny money controlled by the 'all-knowing and wise' central committee and Chairman Buterin with the final word.

Vitalik is basically Janet Yellen, without the wig.

that sounds right

with the R3 consortium it is obvious these financial leaders prefer to have a system that is under their control

[TERA]

"R3 consortium". Bitcoin never had any of these big names when it was growing up, just an organic community of its own lone developers and users. Ethereum is going up solely due to big names and flashy news releases. Meanwhile there is no actual userbase backing it at all - nobody is supprting a 1.5bn market cap by running smart contracts. It's all traders and the 3,000,000 ETH per day of volume on Pologox.

[USB-S]

"R3 consortium". Bitcoin never had any of these big names when it was growing up, just an organic community of its own lone developers and users. Ethereum is going up solely due to big names and flashy news releases. Meanwhile there is no actual userbase backing it at all - nobody is supprting a 1.5bn market cap by running smart contracts. It's all traders and the 3,000,000 ETH per day of volume on Pologox.

People still hold money on that site? What a brave bunch.

[marcus_of_augustus]

tera, got any TA for us?

better, legendary masterluc has made one of his ultra rare posts

https://bitcointalk.org/index.php?topic=274613.msg15207292#msg15207292


BAF

[TERA]

Though If I had to choose one reason to be bearish about ETH, this one really takes the take: