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

[jbreher]

I just started my first (non-mining) full node. I'm no longer part of the problem. 

Way to go. A good mayor needs to set an example.

[jbreher]

For example, why is this thread still even here?
https://bitcointalk.org/index.php?topic=1563375.0

I'm guessing it is still here because it is a thread comparing two alt coins, in a sub dedicated to the discussion of such?

[jbreher]

You're downloading and verifying every transaction that has happened in Bitcoin, ever.

Not according to gmaxwell. He has stated that Core does NOT verify all transactions since genesis.

I'll not editorialize about what you might want to think about that.

[silverfuture]

@ JayJuanGee  I mostly just hold in cold storage with no intent to trade any time soon. Just a bit of fun for me with a small amount of change.

[JayJuanGee]

@ JayJuanGee  I mostly just hold in cold storage with no intent to trade any time soon. Just a bit of fun for me with a small amount of change.

That makes your earlier comments even more ironic because they seem to be somewhat out of touch with your actual practice and actions.

These days, it certainly is not difficult to make various efforts to attempt to align your BTC holdings in accordance with your view of their future price performance.  I know that a lot of folks are really disinclined to sell any of their BTC and so they only buy upon dips and continue to HODL, but if they are like you, and if they really believe that there is a decent chance that BTC prices will dip into the $400s, then they should sell at least a portion of their BTC holdings in order to kind of align their investment with their views. The alignment does not need to be precise, but at least a ballparking of such.

If you are only HODLing BTC, and you have no other plans in terms of the future price dip that you expect, then aren't you feeling kind of uncomfortable with the current allocations of your BTC holdings, or do you enjoy living in such high levels of discordance in your life?  I'm not trying to be judgmental of you, because my perception of the whole situation, as i outlined above, seems really strange to me.

[dumbfbrankings]

You're downloading and verifying every transaction that has happened in Bitcoin, ever.

Not according to gmaxwell. He has stated that Core does NOT verify all transactions since genesis.

I'll not editorialize about what you might want to think about that.

Ah yes. Altho I didn’t specify the method of verification.

Technically correct, irrelevant in practice, leading to maximum non-wizard befuddlement… classic Gregory.

[Hyperjacked]

TO THE MODS:

If I went through this thread alone and flagged/culled every single post that wasn't "on topic" according to your supposed rules, this entire thread would need to reduce its post count by about 75-80%.

In fact the same could be said for the entire Speculation sub forum.  Yet those posts and threads remain.

But I guess this doesn't matter, eh?

EDIT:
For example, why is this thread still even here?
https://bitcointalk.org/index.php?topic=1563375.0

No joke man! We should make another btc speculation thread...cheers m8

[savetherainforest]

We got less than 40 minutes till 666$.




*Edit: I was wrong, maybe tomorrow at end day or they want to drag this along for 1 more week.

[BlindMayorBitcorn]

You're downloading and verifying every transaction that has happened in Bitcoin, ever.

Not according to gmaxwell. He has stated that Core does NOT verify all transactions since genesis.

I'll not editorialize about what you might want to think about that.

Ah yes. Altho I didn’t specify the method of verification.

Technically correct, irrelevant in practice, leading to maximum non-wizard befuddlement… classic Gregory.

3 years, 3 weeks...
Where's the prune mode button?

[silverfuture]

@ JayJuanGee  I mostly just hold in cold storage with no intent to trade any time soon. Just a bit of fun for me with a small amount of change.

That makes your earlier comments even more ironic because they seem to be somewhat out of touch with your actual practice and actions.

These days, it certainly is not difficult to make various efforts to attempt to align your BTC holdings in accordance with your view of their future price performance.  I know that a lot of folks are really disinclined to sell any of their BTC and so they only buy upon dips and continue to HODL, but if they are like you, and if they really believe that there is a decent chance that BTC prices will dip into the $400s, then they should sell at least a portion of their BTC holdings in order to kind of align their investment with their views. The alignment does not need to be precise, but at least a ballparking of such.

If you are only HODLing BTC, and you have no other plans in terms of the future price dip that you expect, then aren't you feeling kind of uncomfortable with the current allocations of your BTC holdings, or do you enjoy living in such high levels of discordance in your life?  I'm not trying to be judgmental of you, because my perception of the whole situation, as i outlined above, seems really strange to me.

I see it as a much bigger risk to play around with it on exchanges than being cold-storaged.

[dumbfbrankings]

You're downloading and verifying every transaction that has happened in Bitcoin, ever.

Not according to gmaxwell. He has stated that Core does NOT verify all transactions since genesis.

I'll not editorialize about what you might want to think about that.

Ah yes. Altho I didn’t specify the method of verification.

Technically correct, irrelevant in practice, leading to maximum non-wizard befuddlement… classic Gregory.

3 years, 3 weeks...
Where's the prune mode button?

It's a flag like everything else, -prune=<n>, on a command line.

Pruning the size of your installation won't help you speed up an initial sync though, you still have to chew through the whole thing. That's where increasing your dbcache could help.

You could do it in well less than 8 hrs with a nice computer and an enlarged dbcache. Rasb Pi or a lightly provisioned vps could take days. Once you're synced, the life of a node becomes a little more relaxed.

P.S. I think ETC discussion is allowed today, at least it is on r/bitcoin. 7% of the price, and 5.5% of the hashrate... never a dull day in cryptoland (well, some dull days, but not today )

P.P.S. I wonder if vitalik regrets the quick difficulty retargeting right about now...

[marcus_of_augustus]

http://www.bitcoinwatch.com/

looks like difficulty is going to be adjusting downwards. Miners are hurting bad at these prices, on average costs they need >$850 for profits so some are going off-line now I expect.

$660 is equivalent to $330 before halvening ... i.e. cheap coinz.

[Hyperjacked]

Honestly...10.5 billion market cap for Bitcoin is insane imho!

See you guys in a month or two...

[dumbfbrankings]

PS. I think you're saying the minority chain in a post fork bitcorn situation would have even less a chance of success?

Yes, BTC is dramatically more resistant to the success of a small minority fork.

That’s why the “fire the miners” keccak code is there, ready, lurking… because when voting with hashrate doesn’t go your way… you change who’s voting.

[JayJuanGee]

@ JayJuanGee  I mostly just hold in cold storage with no intent to trade any time soon. Just a bit of fun for me with a small amount of change.

That makes your earlier comments even more ironic because they seem to be somewhat out of touch with your actual practice and actions.

These days, it certainly is not difficult to make various efforts to attempt to align your BTC holdings in accordance with your view of their future price performance.  I know that a lot of folks are really disinclined to sell any of their BTC and so they only buy upon dips and continue to HODL, but if they are like you, and if they really believe that there is a decent chance that BTC prices will dip into the $400s, then they should sell at least a portion of their BTC holdings in order to kind of align their investment with their views. The alignment does not need to be precise, but at least a ballparking of such.

If you are only HODLing BTC, and you have no other plans in terms of the future price dip that you expect, then aren't you feeling kind of uncomfortable with the current allocations of your BTC holdings, or do you enjoy living in such high levels of discordance in your life?  I'm not trying to be judgmental of you, because my perception of the whole situation, as i outlined above, seems really strange to me.

I see it as a much bigger risk to play around with it on exchanges than being cold-storaged.

There are two points that I would make to this response. 

1) I think that you are over calculating the exchange risk, especially, if you really believe that prices are going to go down into the upper $400s.  How many exchanges have run off with bitcoin?  large exchanges, besides MTGOX (and couldn't we see MTGOX coming from miles away?)

and

2) there are strategies to limit the exchange risk, such as only keep a small portion on the exchanges and/or remove from exchange after making the trade and choosing more reputable exchanges especially, if you really believe that prices are going to go down into the upper $400s.


In other words, you are making prognostications about bitcoin, but your money is no where near your mouth is, no?  Not even a kinds approximate approximation.

[Elwar]

http://forklog.net/exante-winklevoss-brothers-etf-to-skyrocket-bitcoin-price/

"if the Winklevoss’ application is approved, the bitcoin price can easily rise to 2 and even to 10 thousand dollars."

Good point, Elwar, as I was asking myself, will the COIN ETF ever get approved ?

I think yes, but it's not around the corner.

What you think ? If no, why ? If yes, will take some time, right ?

Thanks buddy

ETF is bullshit (not bullish). winklewees are ever failing wannabes burning through daddy money.

trading paper coins will certainly not lead btc price higher.

just look at how gold ETFs are used to lower its price, flooding the market with their monkey gold.

Elwar, what do you think about what hdbuck said ?

And yes, I'm aware of that second ETF filled by SoildX.

You said that the winkies are impatient now, how will this help in accelarating the decision taking ?

Plus, don't you think it's too soon to see that the COIN ETF will launch before the end of the year ?

Lastly, do you think we could have two Bitcoin ETF's in two diffierent stock exchanges ? Probable ?

The part about the Winklevoss twins being impatient implies that they are still actively trying to get this to work and by changing exchanges they are showing that they're willing to do what it takes to get it done.
 
As far as lowering the price? No. We already see that people are willing to spend double the bitcoin price for bitcoins on the exchange market if they have a broker handling it. The more people who are able to check a box at work to have some of their retirement go toward a bitcoin investment the higher the price will go. That is a market not yet tapped. And it is huge.

It's all speculation as to when it will happen though. They said that it usually takes 2 years from the initial filing. It's been over 3 years.

[gentlemand]

It's all speculation as to when it will happen though. They said that it usually takes 2 years from the initial filing. It's been over 3 years.

The first modern gold ETF took nearly five years to be approved and I think it's safe to say more people are familiar with what gold is.

Oh yeah, and this arrived today - https://www.gsx.gi/article/8292/gibraltar-stock-exchange-welcomes-bitcoineti

[Moria843]

So much for the halfing raising price. Small miners quitting. Hate to see the next one.

[Elwar]

So much for the halfing raising price. Small miners quitting. Hate to see the next one.

Price was under $300 in January. I'd say the halving raised the price significantly.

Unless there was some other news that doubled the price in the past 7 months?

[respawn2]

So much for the halfing raising price. Small miners quitting. Hate to see the next one.

Price was under $300 in January. I'd say the halving raised the price significantly.

Unless there was some other news that doubled the price in the past 7 months?

No, you're right, the price rise was due to the halvening pump. Now price is coming back down, as always.

Estimated Next Difficulty:   201,904,118,316 (-5.43%)
https://bitcoinwisdom.com/bitcoin/difficulty

Prophesies gettin' fulfilled