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

[marcus_of_augustus]

@ -09:07 Roger Ver thinks it takes at least another year, and likely many years, before LN is ready on mainnet.
http://www.alexfortin.com/rogerver/

Roger Ver of "Mt.Gox is fine" fame.

He's gone from 'Bitcoin Jesus' to 'Bitcoin Oracle' ... not that he claimed any of those things himself, let's hope for his sake he's not heading towards the 'Bitcoin Judas' label.

[BitUsher]

@ -09:07 Roger Ver thinks it takes at least another year, and likely many years, before LN is ready on mainnet.
http://www.alexfortin.com/rogerver/

Roger Ver of "Mt.Gox is fine" fame.

He's gone from 'Bitcoin Jesus' to 'Bitcoin Oracle' ... not that he claimed any of those things himself, let's hope for his sake he's not heading towards the 'Bitcoin Judas' label.

I'll forgive him for all the damage he has recently created in our community by fueling misinformation and ignorance if he would simply show a little humility and apologize when LN is released successfully. He has done a lot of good early on before mtgox so has earned some early respect but is really burning through a ton of social capital lately.

[dumbfbrankings]

@ -09:07 Roger Ver thinks it takes at least another year, and likely many years, before LN is ready on mainnet.
http://www.alexfortin.com/rogerver/

Roger Ver of "Mt.Gox is fine" fame.

He's gone from 'Bitcoin Jesus' to 'Bitcoin Oracle' ... not that he claimed any of those things himself, let's hope for his sake he's not heading towards the 'Bitcoin Judas' label.

I'll forgive him for all the damage he has recently created in our community by fueling misinformation and ignorance if he would simply show a little humility and apologize when LN is released successfully. He has done a lot of good early on before mtgox so has earned some early respect but is really burning through a ton of social capital lately.

I'm sure that's what Roger is after, forgiveness from BitUsher.

Speaking of LN, we already knew this, but Peter Todd needed some attention again. Ironically this weakness is made dramatically worse by artificially small and regularly full blocks:



$700 2nite? 

[marcus_of_augustus]

Oh gawd ... here come the big-blockers crawling out of their graves, zombie-like to attest to their irrelevancy, now they'll whip up some scare headlines, pay off some shills or NYTimes churnalists and try to make themselves feel important again.

Relax, halving doesn't mean the blocksize is getting halved you idiots.

[BitUsher]

Oh gawd ... here come the big-blockers crawling out of their graves, zombie-like to attest to their irrelevancy, now they'll whip up some scare headlines, pay off some shills or NYTimes churnalists and try to make themselves feel important again.

Relax, halving doesn't mean the blocksize is getting halved you idiots.

Notice how they keep moving the goal posts, first it was 1st quarter 2016 , than 2nd quarter , now "turbulence" (whatever that means) will be in 3rd quarter 2016.

Concern trolls are coming out of their graves and after ETH price has taken a hit they are increasingly becoming more and more desperately "concerned".

Expect another stress test once segwit is activated to fill blocks and allow the concern trolls to continue their complaints.

Price for me is still bullish as Bitcoin is showing resistance to being influenced for nontechnical proposals. I'm buying more btc as they sell to pick up that falling knife ETH.

[marcus_of_augustus]

[600watt]

them mainstream investment writers/analysts are really starting to salivate:

Over the past three years, the Bitcoin CAGR is a stunning 81.71%. (To offset the recent volatility, I'm using $600 as the current price — roughly the average price over the past five crazy weeks.)

Now let's put that into perspective…

A Bitcoin Investment Beat Everything Else by a Mile

Stocks? The CAGR for the Standard & Poor's 500 index over the past three years is just under 8%. Not bad, but a fraction of Bitcoin's.

Real estate? The three-year CAGR for the U.S. existing home median sales price is 5.68%.

Gold? The CAGR for the SPDR Gold Trust (NYSE Arca: GLD), the exchange-traded fund based on the price of gold, is just 1.65% — even with the recent Brexit-driven spike.

Clearly, no investment class comes close to Bitcoin.

The Needham forecast is for Bitcoin to hit $1,896 by 2020. Again, I'm using $600 as the present Bitcoin price to balance the recent volatility.

If Bitcoin indeed reaches that price in four years, the CAGR is 33.33%. While not as impressive as 82%, that CAGR will almost definitely beat virtually any other investment class.

The Wedbush prediction is a bit more interesting, as it moves further out in time to 2025 and projects a Bitcoin price of $17,473.

That forecast translates to a Bitcoin CAGR of 45.44% over nine years. To be clear, that's an implied return of 45% every year for nine years straight.

I can't imagine any other investment providing such a dramatic return over that kind of time span.

And while Bitcoin is still riskier than most other types of investments, that risk is declining. What once was the province of computer geeks and libertarians now has the full attention of venture capitalists and all of the world's major banks.

fuck yeah.



http://moneymorning.com/2016/06/28/investing-in-bitcoin-has-delivered-an-annual-return-of-82/


edit:
and while your up, check this out: (not mainstream but sweet):
http://bravenewcoin.com/news/bitcoin-outperforms-all-other-asset-classes-in-the-first-half-of-2016/

[JayJuanGee]

Ironically this weakness is made dramatically worse by artificially small and regularly full blocks:
 

Nonsense.... Where's your proof of "artificially small blocks" or "regularly full blocks" and whether this is an actual problem in the real world, dumbfbr?  You are assuming facts and conclusions that are not in fact in existence.  Didn't you realize that there is no emergency status in bitcoin dumbfbr?

$700 2nite? 

trolling response, again?  but anyhow, I will bite and suggest that $700 could happen at any time, and I would wager (a small amount) on $700 happening before $615.. Anyone think the opposite? 

Anyhow, I am not exactly invested in $700 having to happen before $615 because I realize that in bitcoinlandia, there can be heavy and unexpectedly high levels of manipulation that occur beyond reasonable expectations.

[AlexGR]

~500 blocks left

[Dajackal]

~500 blocks left

Its getting close to the wire now but it will take months for the real effect to kick in.

[BlindMayorBitcorn]

We're leaving together,
But still it's farewell.
And maybe we'll come back
To earth, who can tell?
I guess there is no one to blame
We're leaving ground (leaving ground)
Will things ever be the same again?
It's the final countdown.
The final countdown.
Oh!
The final countdown.

[BlindMayorBitcorn]

Coin



Explanation

How'd chartbuddy get in here?

[marcus_of_augustus]

he;s just back for the lulz ... chinese rocket trains running ahead of schedule

[BlindMayorBitcorn]

he;s just back for the lulz ... chinese rocket trains running ahead of schedule

Cheap, dirty, reliable: It's coal.

[Fatman3001]

@ -09:07 Roger Ver thinks it takes at least another year, and likely many years, before LN is ready on mainnet.
http://www.alexfortin.com/rogerver/

Roger Ver of "Mt.Gox is fine" fame.

A year may be accurate . Expectations are 3rd Q this year from devs , but in reality there will likely be delays as they need to wait for segwit to activate and than test on testnet. But it is hard to say Because segwit has been on the main bitcoin testnet for over 1 month and i know of many developers testing LN right now as we speak so in reality we could see some early implementations this year.

Maybe it would be a good idea to start testing 2/4/8mb blocks in the meantime.

[BlindMayorBitcorn]

Even if we get some code for a hard fork this year, what happens when the miners want to run with it, but the nodes won't budge? (Again.) Is that just the mechanism doin' it's thing?

[Fatman3001]

Even if we get some code for a hard fork this year, what happens when the miners want to run with it, but the nodes won't budge? (Again.) Is that just the mechanism doin' it's thing?

They could just copy/paste some classic code or bitpays adaptive block size today and have it running by tomorrow. And if they do this in secret you'll have a Dr. Merkwürdigliebe scenario.

What I worry about is if a safe LN is 2-4 years away. And we're too hung up about who said what to actually allow the 1MB cap to be safely lifted in the meantime.

[BlindMayorBitcorn]

Even if we get some code for a hard fork this year, what happens when the miners want to run with it, but the nodes won't budge? (Again.) Is that just the mechanism doin' it's thing?

They could just copy/paste some classic code or bitpays adaptive block size today and have it running by tomorrow. And if they do this in secret you'll have a Dr. Merkwürdigliebe scenario.

What I worry about is if a safe LN is 2-4 years away. And we're too hung up about who said what to actually allow the 1MB cap to be safely lifted in the meantime.

Imagine a world with indecisive types who'd prefer maybe not to see a hf ever. Be as optimistic as you can. Would we have inevitably crippled Bitcoin?

[Fatman3001]

Even if we get some code for a hard fork this year, what happens when the miners want to run with it, but the nodes won't budge? (Again.) Is that just the mechanism doin' it's thing?

They could just copy/paste some classic code or bitpays adaptive block size today and have it running by tomorrow. And if they do this in secret you'll have a Dr. Merkwürdigliebe scenario.

What I worry about is if a safe LN is 2-4 years away. And we're too hung up about who said what to actually allow the 1MB cap to be safely lifted in the meantime.

Imagine a world with indecisive types who'd prefer maybe not to see a hf ever. Be as optimistic as you can. Would we have inevitably crippled Bitcoin?

That will only happen if everyone bows down to fear mongering idiots. Like with Brexit or Donald Trump. Surely there are no such people in Bitcoin.

[BlindMayorBitcorn]

Even if we get some code for a hard fork this year, what happens when the miners want to run with it, but the nodes won't budge? (Again.) Is that just the mechanism doin' it's thing?

They could just copy/paste some classic code or bitpays adaptive block size today and have it running by tomorrow. And if they do this in secret you'll have a Dr. Merkwürdigliebe scenario.

What I worry about is if a safe LN is 2-4 years away. And we're too hung up about who said what to actually allow the 1MB cap to be safely lifted in the meantime.

Imagine a world with indecisive types who'd prefer maybe not to see a hf ever. Be as optimistic as you can. Would we have inevitably crippled Bitcoin?

That will only happen if everyone bows down to fear mongering idiots. Like with Brexit or Donald Trump. Surely there are no such people in Bitcoin.

To be continued then...

Is politics really a fitting analog here tho, I wonder. It's a tech community, after all. A tyranny of a majority of Chinese mines doesn't sit square with me either.

Proper representative democracy here is what we have now, arguably; informally elected code-leaders, not putting every foundational vote before Joe miner. Innit?