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

[Paashaas]

id like to remind everyone that

SegWit is great for Bitcoin. It brings more transaction throughput, fixes malleability, defrags the UTXO set, makes hardware wallets more secure and most importantly, it enables Lightning which will bring instant low cost Bitcoin transactions to the world. The team at BTCC have been working hard at making their exchange and mining pool services SegWit ready, and everyone else should do the same.

You are correct but people are forgetting one major thing; Bitcoin cannot go mainstream with just bigger blocks. You need something like 1gig blocks to make a shot for it, the internet cant even handle that. Hardforking from 1mb all the way up to 1gig is just a no-go zone, Lightning will fulfill that job because you really want to have high capacity when ''monkey see monkey do'' situation arrives.

This is correct, but: why stop natural growth at 1 MB? It's not like we'll be at 1 MB for 10 years and then BOOOOM, we scale to global level overnight.

There is nothing wrong with bigger blocks, but we need extra layers to make Bitcoin mainstream.

I agree.

Increasing blocks will be much smoother when the community, dev, miners are on the same side.

What side? The side that wants to keep the 1 MB blocksize limit? You're saying we should all agree to that in order to remove that limit? What twisted logic is used here?

You are right, i'm starting to get exhausted from this block-size debate i'll leave it for what it is for now.

[jbreher]

Just 'cause you incessantly do this to others...

Once we get passed the mid $800's, the most likely price range would end up in the $3k to $5k territory

^^^ show your work.

[jbreher]

at the moment seg wit is on the table, and those who are working towards [other solutions] don't have feasible code that has gone through the vetting process. 

Well, no. BU has been running on the main chain several times longer than has The SegWit Omnibus Changeset.

[harrymmmm]

at the moment seg wit is on the table, and those who are working towards [other solutions] don't have feasible code that has gone through the vetting process. 

Well, no. BU has been running on the main chain several times longer than has The SegWit Omnibus Changeset.

I repeat ... the BU code that's actually running on main net at the moment (and therefore being 'tested' on main net) is mostly the old 0.12 core code.

None of the new block size related code is being exercised.
Bugs in the old core stuff are most unlikely since it already ran for so long (and had it's bugs fixed way back when).

[savetherainforest]

We are good at waiting  

I calculated that the peak of this bubble will be somewhere at 3400$ - 3800$ ... so 3.4k - 3.8k USD ... if they don't destroy the financial system before it will reach that point based on the actual value of the US dollar... and that meaning if they try to bury it in to the ground (the US dollar) ... we would probably see that 3.4k$ - 3.8k$ be 20-30x ... so that might be 70k$ - 90k$.

Meaning... yes... I just said that... the dollar may be devalued between 2000% and 3000% ... And the sad sheeple muricans will become a 3rd world country owned partially by China!  


*edit: Venezuela 2.0!

[DaRude]

Mr Bear Dolphin is back on finex ? BTC618 ask @ $730
BTC618 is a wall for finex nowadays right?

[DaRude]

Mr Bear Dolphin is back on finex ? BTC618 ask @ $730
BTC618 is a wall for finex nowadays right?

*Poof* and it's gone. Well he moved it up to $735

[savetherainforest]

Mr Bear Dolphin is back on finex ? BTC618 ask @ $730
BTC618 is a wall for finex nowadays right?

I think it is mostly just uncertainty ... Who knows... this looks like it might blow today or 3 days from now... But from what I see.. China is pretty bored, so I guess they might blow it up today!

[savetherainforest]

Mr Bear Dolphin is back on finex ? BTC618 ask @ $730
BTC618 is a wall for finex nowadays right?

I think it is mostly just uncertainty ... Who knows... this looks like it might blow today or 3 days from now... But from what I see.. China is pretty bored, so I guess they might blow it up today!

Speaking of the devil... The China wall is rising!!!  

[Temp_JayJuanGee]

Just 'cause you incessantly do this to others...

Once we get passed the mid $800's, the most likely price range would end up in the $3k to $5k territory

^^^ show your work.

You seem like you are trolling, butt hurt and/or feeling sorry for bitcoin deniers, big blockers and FUD spreaders, and my view of bitcoin's future is based on a combination hunches, probabilities, based on bitcoin's past performance of overshooting possibilities including rhyming.. and not necessarily repeating, also based on networking effects (including considerations of Metcalfe's law that could cause additional exponential growth periods) https://en.wikipedia.org/wiki/Metcalfe's_law

Mine is also a working hypothesis that I have had for a while (longer than a year, if I recall correctly), but I would be more than willing to tweak it or to give up upon it, if it appeared that any of the material bitcoin fundamentals were to change and justify such a giving up upon.        

[Temp_JayJuanGee]

at the moment seg wit is on the table, and those who are working towards [other solutions] don't have feasible code that has gone through the vetting process. 

Well, no. BU has been running on the main chain several times longer than has The SegWit Omnibus Changeset.

I repeat ... the BU code that's actually running on main net at the moment (and therefore being 'tested' on main net) is mostly the old 0.12 core code.

None of the new block size related code is being exercised.
Bugs in the old core stuff are most unlikely since it already ran for so long (and had it's bugs fixed way back when).

Thank you Harrymmmmmmmmmmmmmmmmmmm for pointing that out, because frequently some of these seg wit naysayers are putting out misinformation regarding the supposed "vettedness" of inadequate and likely dangerous competing code.

[hulla]

Sorry guys cos my prediction cocern the hike in price of bitcoin last weekend fail but with the current price of bitcoin, bitcoin is gaining some lil strength

[savetherainforest]

Sorry guys cos my prediction cocern the hike in price of bitcoin last weekend fail but with the current price of bitcoin, bitcoin is gaining some lil strength

I spoke a week ago with my shaman & with my bruja sisterhood coven secretary and they clearly stated that the beaver blue moon of November predicted good fortune for my gambling habits!



But now that I see the pressure that is being accumulated ... And the thing that comes to mind is just "blunt force trauma", and the markets are raging like an angry beast that says : "I will smash you hard! Don't F* with me!"

And from that you should understand that dealing with "uncertainty BS" for now is just nonsense for anything trader under 1200$.

[DaRude]

I'd feel much more bullish if segwit was getting activated

[savetherainforest]

I'd feel much more bullish if segwit was getting activated

... member when one coin was 15 cents ?  ... And you where probably looking at it like dog poop in the middle of the sidewalk before dog poop became organic fertilizer for "vegan AF" organic farmers in California??  

https://www.youtube.com/watch?v=ndI9vkgw_1Y

[ErisDiscordia]

I'd feel much more bullish if segwit was getting activated

... member when one coin was 15 cents ? 

oooooh, I member!

[PoolMinor]

I'd feel much more bullish if segwit was getting activated

... member when one coin was 15 cents ? 

oooooh, I member!

Is it a coincidence that there are 23 grapes in that bunch?

Hail Eris,
All Hail Discordia!

[kurious]

I'd feel much more bullish if segwit was getting activated

... member when one coin was 15 cents ? 

oooooh, I member!

Brilliant!  This post I will definitely member

[JimboToronto]

Good morning ladies and gentlemen of Bitcoinland.

Not much change but what little there is, is in the right direction... currently $745USD at Bitcoinaverage.

At least we Canadians are back in quadruple digits... $1001CAD.

We're still basically where we were a month ago. I'd guess that $700 is a done deal.

Time to start moving up again. Let's put $750 behind us and get to work on $780.

[Torque]

I'd feel much more bullish if segwit was getting activated

... member when one coin was 15 cents ? 

oooooh, I member!

Brilliant!  This post I will definitely member