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

[jbreher]

We all know that there is exchange variation, but did you see that low dip on GDAX.... WOW!!!!

All the way down to $1050.    It could have been possible to make some good dinero on that situation.

Yup - I hit 6 buys on the way down while I was sleeping. By the time I checked in, the price was already back up @$1226.35. For once, the fact that a wasn't monitoring closely netted me some extra profits from selling 4 of those 6 back*. Sold another at my expected level shortly thereafter.

*Of course, I dutifully reentered buy orders at profitable points for each.

[jbreher]

I think this vector needs to be closed down with an automated algorithmic increase of some sort that will eliminate disagreements that can be used for social-engineering a fork.

If core hadn't been so obstinate in rebuffing community demands, BU probably never would have been implemented. Don't expect them to change course now. Even with the obvious state of The SegWit Omnibus Changeset never reaching the 95% activation level.

[Syke]

I don't mean to be a curmudgeon, but when it comes to subject matters like this, 0% is an exaggeration, no?

Maybe you could say .000001% and still make your point?

Nah, a quick read of that message says to me that 0% is an accurate assessment. It would have to be Satoshi pretending to be someone other than Satoshi trying to be Satoshi. I'd give it a 0% chance.

[spooderman]

I think this vector needs to be closed down with an automated algorithmic increase of some sort that will eliminate disagreements that can be used for social-engineering a fork.

If core bitcoin hadn't been so obstinate in rebuffing community people who underestimate the risk of large blocks' demands, BU probably never would have been implemented. Don't expect them to change course now. Even with the obvious state of The SegWit Omnibus Changeset never reaching the 95% activation level.

and core setting such a high bar shows that they are more concerned with consensus that with "winning" - as they should be.

a conservative approach is necessary here.

[marcus_of_augustus]

I think this vector needs to be closed down with an automated algorithmic increase of some sort that will eliminate disagreements that can be used for social-engineering a fork.

If core hadn't been so obstinate in rebuffing community demands, BU probably never would have been implemented. Don't expect them to change course now. Even with the obvious state of The SegWit Omnibus Changeset never reaching the 95% activation level.

Give it up with the propaganda, it's really sickening. You guys with your BU have shit the bed big time by trying to block natural open source development with political shennigans and now you don't know how to clean up the ugly mess. There were no reasonable "community demands" that could have been accommodated within the engineering constraints. Demanding that the 747 flies to moon on your way from NY to London is lovely but it's not happening in our lifetime. No one in Core is "being obstinate" they are simply saying it can't done like that.

Peter_R is a complete charlatan, I wouldn't let him design a doorlock let alone network system engineer a centralised monetary system.

[Killerpotleaf]

I think this vector needs to be closed down with an automated algorithmic increase of some sort that will eliminate disagreements that can be used for social-engineering a fork.

If core hadn't been so obstinate in rebuffing community demands, BU probably never would have been implemented. Don't expect them to change course now. Even with the obvious state of The SegWit Omnibus Changeset never reaching the 95% activation level.

Give it up with the propaganda, it's really sickening. You guys with your BU have shit the bed big time by trying to block natural open source development with political shennigans and now you don't know how to clean up the ugly mess. There were no reasonable "community demands" that could have been accommodated within the engineering constraints. Demanding that the 747 flies to moon on your way from NY to London is lovely but it's not happening in our lifetime. No one in Core is "being obstinate" they are simply saying it can't done like that.

Peter_R is a complete charlatan, I wouldn't let him design a doorlock let alone network system engineer a centralised monetary system.

dont worry, somthing like 90% of BU minning nodes are signaling 1MB EB anyway, so you'll be fine.

[Dafar]

And what happens if COIN ETF doesn't get confirmed or denied tomorrow? I will slap the shit out of you

[jbreher]

waaah. waaah. waaaaaaa!

"block natural open source development with political shennigans" ? Really? How does one block open source development?

idonothtinkthatwordmeanswhatyouthinkitmeans.png

"they are simply saying it can't done like that" Done like what? A simple max block size increase? Really?

[Dafar]

BU is garbage, only a fucking idiot thinks it's a good idea. The entire technical community is behind segwit and wallets are ready to support the upgrade. But we have a pathological liar (Roger Ver) and a power grabbing miner (Jihan) backing BU by spreading propaganda instead of merits behind the advantage of BU vs Segwit. Yeah no thanks, this is going to end up in history as another bump in the road like XT, ghash.io, etc

[jbreher]

BU is garbage, only a fucking idiot thinks it's a good idea.

I think BU is a good idea. I realize you don't know me from adam, but I assure you, I am not a fucking idiot. Certainly the evidence of my position in life disproves the assertion.

Mr. "I'm gonna defraud a million bucks from daddy under false pretenses" (bystanders might ask Dafar what I refer to here)

I note you make no argument -- only sling shit -- in your screed.

Oh look - new material edited. OK - amongst the ad-homs you do say one thing at least defensible:

BU may never achieve critical mass. As neither has done Classic or others...

...As neither has done The SegWit Omnibus Changeset.

[notme]

BU is garbage, only a fucking idiot thinks it's a good idea.

I think BU is a good idea. I realize you don't know me from adam, but I assure you, I am not a fucking idiot. Certainly the evidence of my position in life disproves the assertion.

Mr. "I'm gonna defraud a million bucks from daddy under false pretenses" (bystanders might ask Dafar what I refer to here)

I note you make no argument -- only sling shit -- in your screed.

Oh look - new material edited. OK - amongst the ad-homs you do say one thing at least defensible:

BU may never achieve critical mass. As neither has done Classic or others...

...As neither has done The SegWit Omnibus Changeset.

It is hilarious how much panic a few BU blocks can cause.  Even if BU becomes the majority, it won't fork until a large size is coordinated with all the relevant actors.  Nobody in their right mind would mine a block bigger than 1MB before everyone is ready.  If they do, fuck 'em.  But all the smallblockists are shitting themselves over nothing.  BU doesn't solve the block size debate or remove the block size limit.  It just enables decisions to be made by people who aren't developers.  If you want your decentralized money system to have price controls, I'm not sure why you chose to support bitcoin.

[swogerino]

If a few BU blocks can cause it to dump that much in a matter of minutes I can't imagine what will happen when the rest are unleashed into the bitcoin war.
That puts the fear of death into me.

[jbreher]

If a few BU blocks can cause it to dump that much in a matter of minutes...

WTF are you talking about? BU blocks have been being mined for months. Running pretty much neck & neck with segwit, even.

[Ibian]

Never saw a good argument against "let's double the number of transactions [2 MB blocks]".

Some people just seem to want to drag everyone else down.

[becoin]

First...

It is hilarious how much panic a few BU blocks can cause.

Then...

WTF are you talking about? BU blocks have been being mined for months.

WTF... What are you smoking?

[york780]

Is this a new dump coming or just a trap guys?

[Dafar]

BU is garbage, only a fucking idiot thinks it's a good idea.

I think BU is a good idea. I realize you don't know me from adam, but I assure you, I am not a fucking idiot. Certainly the evidence of my position in life disproves the assertion.

Mr. "I'm gonna defraud a million bucks from daddy under false pretenses" (bystanders might ask Dafar what I refer to here)

I note you make no argument -- only sling shit -- in your screed.

I'm not married to segwit, but I'm unconvinced that BU or any hardfork-driven change to the actual protocol is necessary or even the right move. I rarely hear any talks about the merits of BU over segwit, 90% of the time the opinions of that community become so personal and political that it's hard to even hear reason in their arguments. When you don't have the merits to back up your argument you rely on propaganda, but I'm getting sick of being told bitcoin is dying unless some drastic HF happens right now. That is just bullshit and my vision of bitcoin is not as shortsighted as these people. I'm okay with bitcoin being the way it is right now, scaling is gonna happen one way or another... and I will back the side that has received extensive testing and review. Segwit offers most of what people wanted to begin with, which is a near doubling of transaction capacity, virtually all of the technical community supports it, and wallets are ready to go with that support. I just don't see people's attraction to BU and I have done my due diligence

Oh look - new material edited. OK - amongst the ad-homs you do say one thing at least defensible:

BU may never achieve critical mass. As neither has done Classic or others...

...As neither has done The SegWit Omnibus Changeset.

I did not even edit my post, are you fucking stupid?

Actually, you are a BU supporter so the answer is yes

It is hilarious how much panic a few BU blocks can cause.  Even if BU becomes the majority, it won't fork until a large size is coordinated with all the relevant actors.  Nobody in their right mind would mine a block bigger than 1MB before everyone is ready.  If they do, fuck 'em.  But all the smallblockists are shitting themselves over nothing.

I'm glad you have confidence, but a lot of the parties who support BU don't seem to have bitcoins best interest in mind. Just go visit the BU fourm r/btc, half the posters are alt coin pumpers and they are just praying for BU to gain more traction

[becoin]

Just go visit the BU fourm r/btc, half the posters are alt coin pumpers and they are just praying for BU to gain more traction

Much more than half.

[barbarah]

If a few BU blocks can cause it to dump that much in a matter of minutes I can't imagine what will happen when the rest are unleashed into the bitcoin war.
That puts the fear of death into me.

Pfft!
Look dude.

it is so funny that all of this crap is just over 3 (or i think 5 according to coin.dance) new blocks that were signalling BitcoinUnlimited and there has been 231 other blocks out of last 1000 previous blocks doing the same signaling.

are you still saying what's her face is crashing bitcoin price? i don't think so.

It was just nothing really.

[savetherainforest]

Is this a new dump coming or just a trap guys?

Looks like a "cliché" dump!        (word of advice: don't hope for too much! Be happy with a $20-30$ dip then buyback in)