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

[Spaceman_Spiff]

Can someone explain we what is going on? For the last few days everyone was talking about EFT, but today from few hours you are talking about some "BU", "Antpool", "pool"and other stuff. I'm pretty new in BTC and I don't understand what you are taking about, could someone help me?

I wouldn't know how to summarize or distill it further as you have to be somewhat familiar with bitcoin to grasp it. Bottom line if you are a new user. You are safe if you keep your coins off online wallets and exchanges as this blows over. Secure them in Hard ware wallets if you can or an offline computer.

Why do you recommend this ? Some people are here to trade and invest and buy-sell- sell-buy... why if i have coins to the exchange i maybe have problem?
( don't tell me is not safe like gox we all know that but it's the price to pay if something happen in case of hacker - or government we know that, at least we took a lesson with gox )

but what this have to do?

It is all about having options. If there is an imminent hard fork you want to have possession of your private keys as you have more options. The safest most private way is to run a Bitcoin Core node on a home computer. Second would be a hardware wallet like Trezor or Ledger Nano S.

Wait, Electrum is not safe anymore?

Do I understand correctly that some safety gap appeared in bitcoin world in the last few days?

Not really.  They are discussing the possibility of a hard fork in the bitcoin blockchain.  There is disagreement about how to scale bitcoin and 2 camps have formed.  If a cryptocurrency is hardforked, it can turn into 2 new currencies (see ethereum and ethereum classic).  If you control the private keys of the pre-fork coin, you will have both coins after the fork.  However, an exchange could perhaps not recognize 1 of the 2 coins and give you only the 1 they consider legitimate.  That's why its safe to control the private keys prior to a hardfork.
Also, after the hardfork you want to make sure that sending your coins on 1 chain doesn't result in somebody stealing your coins on the other chain (I think, not an expert).

[DieJohnny]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Place your bets.... I think we will witness chaos either way.

That is true. If anybody has a leveraged position, he is either going to get bankrupt, or very very rich.
I don't have the stomach to take those kind of risks.

I am not leveraged but i am way overweight on btc ownership... i am deciding whether to liquidate into dollars for the next week or so....

[Arcteryx]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Place your bets.... I think we will witness chaos either way.

That is true. If anybody has a leveraged position, he is either going to get bankrupt, or very very rich.
I don't have the stomach to take those kind of risks.

I am not leveraged but i am way overweight on btc ownership... i am deciding whether to liquidate into dollars for the next week or so....

So your saying don't bet the house and all your assets on it?
I would imagine there are people who have everything based on the result of it either passing or failing.
There will be people jumping from their windows that day if they did or if they didn't get in on any of the action.

[Syke]

Anybody else getting nervous about next week?
I don't know whether to sell or buy right now.

Buy, definitely.

[jbreher]

BTC as their intergalactic currency tomorrow

Absurd. The speed of light makes the ten-minute block interval unsuitable for even Earth-Mars currency.

[jbreher]

Antpool just started mining BU blocks.

And there seems to be some brewing drama regarding UASF and dingy miners who are threatening to split the network with BU (shitcoin)

The sooner Chinese miners are sold for body parts by their government the better. They shouldn't have the power that they do. Let them fork off but it would be a worry unless there was some way of truly disposing of them with a PoW change. That may well invalidate the non BU miners too though.

You do realize that UASF is User Activated Soft Fork, right? Don't be hatin' on the miners for that.

[jbreher]

Actually its a bit hard for me to understand how someone who has invested millions in hardware can risk that by running untested stoftware coded by some hobby programmers...

They're not. They're running BU.

[jbreher]

Acutally if a hostile fork happens then almost the whole network will reject the invalid blocks
They could fuck up bitcoin really bad.

If almost the whole network rejects these blocks, then in what way will it 'fuck up bitcoin really bad'?

[gentlemand]

https://www.reddit.com/r/BitcoinMarkets/comments/5xtgjc/megathread_etf_part2/delkwcp/

Fake ETF denial sparks insta panic. There's a wee taster if it's a genuine no.

[jbreher]

https://www.reddit.com/r/BitcoinMarkets/comments/5xtgjc/megathread_etf_part2/delkwcp/

Fake ETF denial sparks insta panic. There's a wee taster if it's a genuine no.

What panic? No sudden moves showing on coinmarketcap.

[notme]

https://www.reddit.com/r/BitcoinMarkets/comments/5xtgjc/megathread_etf_part2/delkwcp/

Fake ETF denial sparks insta panic. There's a wee taster if it's a genuine no.

What panic? No sudden moves showing on coinmarketcap.

Somebody's watching the 5 minute chart and hasn't realized that the $5 range today makes tiny moves look huge.

[marcus_of_augustus]

Sideways consolidation after week of ATHs ... most excellent action. Bullish AF.

This BU Woo shit stinks or wtf?! Is that guy high on meglomania? Rogue majority miner is inviting some serious hurt to open up on his sorry ass.

[Dafar]

Sideways consolidation after week of ATHs ... most excellent action. Bullish AF.

This BU Woo shit stinks or wtf?! Is that guy high on meglomania? Rogue majority miner is inviting some serious hurt to open up on his sorry ass.

Fuck Jihan, fuck BU and fuck Roger Ver + dumbass crew ....this is just another bump on the road like XT, ghash.io, Gox,  etc etc

[edgar]

Bitcoin is too volatile to act as a currency.

After all that time you've only just figured that out? Off you go then and let me offer a friendly pat on your silky buttock to help you along. If you find a cheeky finger in your crack then I hope you take it in the spirit it was intended.

[Chef Ramsay]

Nobody is talking about March 15th when the US debt and spending is capped at $20 trillion. This is uncharted territory, folks. Forget the ETF news for a second, briefly. This is gonna make fiat unstable alongside the upcoming Fed rate hike. If the ETF does get approved eventually, then OMG.

[MNDan]

Oh well - gg ETF... :-(

[Lauda]

Bitcoin is too volatile to act as a currency there will be soon no point to owning it.

Such volatility:


 

Oh well - gg ETF... :-(

Stop panicking. There are no news yet.

Sideways consolidation after week of ATHs ... most excellent action. Bullish AF.

Looks like it is either that, the sudden BU blocks by Antpool or the fake ETF panic on some subreddit is what caused weak hands to get flushed out.

[MNDan]

It'll get to your "news sources" eventually.

[Lauda]

It'll get to your "news sources" eventually.

Yeah yeah, 50% of being right, 100% expecting "I told you so." by either side who was just guessing about the outcome like everyone else. Give me a break.
1 day ago there was someone with 'insider' info claiming it will be announced tomorrow with a positive result. One of you must be right.

[MNDan]

Who said it would be tomorrow? :-)