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

[r0ach]

we are so DOOOOOOMED!

[notme]

Actually, pools control the blocksize.

minners are free to pick the pool they mine at.

Exactly, but who has the control over block size other than the pool operator. P2Pool?

the network as a whole?

nothing really changes, bitcoin is not free of its limits only more able to coordinate its limits without being less hindered by politics.

I would hope that if EC is to be successful, it's with >90%. and I Really hope all the small blocks stay, and provide adequate pressure to make sure blocks grow at a respectable comfortable rate.
 

Democracy is about compromise, SegWit was Core's compromise. It was up to the pool operators to accept the compromise. Please broaden your outlook, it is easier to point fingers than do critical thinking.

If SegWit was the compromise, what was the original position?  Besides, according the the hong kong agreement, the compromise was segwit + a can kick blocksize increase.  The latter part never materialized.  You can't "compromise", and then abandon the concessions you've made to achieve that agreement.

[marcus_of_augustus]

Emergent consensus is not elimination of block size restriction.  Miners will always restrict size because there is a cost to increasing it.

This is just pure wishful thinking totally unsupported by any analysis, experimental or calculable proof.

When BU forms a chain, it will take one, and only one, 'valid' malicious block to ruin that chain forever.  Any BUcoin will exist forever with that Sword of Damocles hanging over it. On that one fatal security flaw alone it is not a serious contender for solving capacity expansion for bitcoin.

Most Core developers understand this, it is not obstinacy that they will not 'compromise'. Any requests to 'compromise' is asking Core devs to acquiesce to the possible ruination of bitcoin, why would they sign off on opening bitcoin up to that? All they can do is put forward their solution and see if it is accepted. You cannot coerce or guilt-shame developers into writing code they know is risking the complete ruination of the project by opening it up to an obvious existential security flaw. If Core dev's proposed solution is maligned enough to be found unaccepted then all they can do is shrug and say, "we tried".

No security coder is going to write known compromised software voluntarily.

[notme]

Emergent consensus is not elimination of block size restriction.  Miners will always restrict size because there is a cost to increasing it.

When BU forms a chain, it will take one, and only one, 'valid' malicious block to ruin that chain forever.  Any BUcoin will exist forever with that Sword of Damocles hanging over it. On that one fatal security flaw alone it is not a serious contender for solving capacity expansion for bitcoin.

WTF are you talking about?  Can you please go into detail about how a single malicious block can cause any harm to anyone other than the miner who produced it?

[Spaceman_Spiff]

Bottom in ?

[WiiD]

Bottom in ?

HAHAHA, you are funny today. This is going nowhere but down.

[Killerpotleaf]

I came here because I was interested to read the stories of many of you fellas in respect to bitcoin price analysis and predictions.

Instead, I see lot's of BU nonsense.   


We see a dip yesterday from nearly upper $1200s to mid $1100s and then a return to mid $1200s.. and now a drop to upper $1100s.  This all seems to be related to uncertainty either way regarding the direction of any possible ETF announcement, and folks seem to be kinda raring to go, no?

Of course, some have pre-emptively struck in one direction or another with their belief about what the outcome is going to be.

lol ya, Me too, seems that when price drops, we all come here, some poeple post a link or 2 explaining why price is acting the way it is ( the ETF thing coming soon) and then we proceed to discuss the all the other forking shit.  

[Killerpotleaf]

Bottom in ?

HAHAHA, you are funny today. This is going nowhere but down.

this is most definitely bottom if ETF is approved tomorrow.

[Killerpotleaf]

if ETF is approved we should rally to 1800$ ASAP.

with any luck the media will paint bitcoin as "a safe bet" and the ETF will catch fire.

then what KABOOM 32K? idk.. maybe?

then what?

1 million / coin by the time the world is ready for it?

 

...

[JayJuanGee]

Bottom in ?

HAHAHA, you are funny today. This is going nowhere but down.

this is most definitely bottom if ETF is approved tomorrow.

I think that, personally, I am only putting Seg Wit at about 40% for passage.

I don't really have any insider knowledge, and maybe I am just going with overall sentiment - following the polls.


Regarding timing, your guess of tomorrow doesn't really seem likely to me, but what the fuck do I know?  I was thinking either Friday or Monday, but do we really know the past practice?  Monday is the do or die date, correct?  So a few days before that would seem to make more sense than the actual final day, so maybe I am undermining my own hypothesis.. and maybe Thursday is a good date for the announcement?

[notme]

I came here because I was interested to read the stories of many of you fellas in respect to bitcoin price analysis and predictions.

Instead, I see lot's of BU nonsense.  


We see a dip yesterday from nearly upper $1200s to mid $1100s and then a return to mid $1200s.. and now a drop to upper $1100s.  This all seems to be related to uncertainty either way regarding the direction of any possible ETF announcement, and folks seem to be kinda raring to go, no?

Of course, some have pre-emptively struck in one direction or another with their belief about what the outcome is going to be.

lol ya, Me too, seems that when price drops, we all come here, some poeple post a link or 2 explaining why price is acting the way it is ( the ETF thing coming soon) and then we proceed to discuss the all the other forking shit.  

Antpool mined a few BU blocks and this subforum went nuts with threads about an imminent fork .  Naturally, this thread got caught up in it.

[Killerpotleaf]

If ETF is denied, price will probably tank to 999$ and have a hard time staying above 1000$ for a while.

[Killerpotleaf]

Bottom in ?

HAHAHA, you are funny today. This is going nowhere but down.

this is most definitely bottom if ETF is approved tomorrow.

I think that, personally, I am only putting Seg Wit at about 40% for passage.

I don't really have any insider knowledge, and maybe I am just going with overall sentiment - following the polls.


Regarding timing, your guess of tomorrow doesn't really seem likely to me, but what the fuck do I know?  I was thinking either Friday or Monday, but do we really know the past practice?  Monday is the do or die date, correct?  So a few days before that would seem to make more sense than the actual final day, so maybe I am undermining my own hypothesis.. and maybe Thursday is a good date for the announcement?

i'm giving the ETF a 75% chance of approval.

They dont necessarily have to wait till the very last second to approve it or not ( or delay it futher!? ).
The fact that we are nearing the ( rumoured ) deadline, the 11th, is a positive sign IMO.
each day that its not denied it feels more likely to be approved.

[yonton]

Some of the potential  drop is already priced in so if it's not approved it won't go down that much more.

[york780]

You forget the chinese withdrawals that start tomorrow. When the chinese people see that the price is dropping they always panic and sell. So this means that wee can expect a drop tommorrow, and when ETF is not approved, what is likely to happen, will cause in an another drop. We are going to test 950 usd

[pooya87]

You forget the chinese withdrawals that start tomorrow. When the chinese people see that the price is dropping they always panic and sell. So this means that wee can expect a drop tommorrow, and when ETF is not approved, what is likely to happen, will cause in an another drop. We are going to test 950 usd

Chinese are already trading on other places, such as localbitcoins and other exchanges in the world, they haven't just stayed out sleeping in their home waiting around for their exchanges to open or not!

and when Chinese exchanges open tomorrow (if that is the date) Chinese will start buying the dip as they always do to catch up to the rest of the world and catch up with their cheap coin accumulation.

[Killerpotleaf]

You forget the chinese withdrawals that start tomorrow. When the chinese people see that the price is dropping they always panic and sell. So this means that wee can expect a drop tommorrow, and when ETF is not approved, what is likely to happen, will cause in an another drop. We are going to test 950 usd

you bears are dreaming

the chinese are not going to dump simply because they can  now withdraw, and the ETF which has been postponed for years  will finally be approved.
and once the ETF  gets rolling, it will snow ball, because the headlines will read :
"bitcoin to be upgraded to handle all of the world TX vol."

[york780]

I hope so, but i still doubt that.

[bitcoinvest]

Doesn't matter who is Satoshi... the problem is the auto correction that every time i write his name put a red line under and i don't like that ! He is the "one" with the programmers that was the reason to be all of us here today.  a big thanks maybe is not enough i don't think we will ever again have news from him, he don't need speak to us...
If all go well he will be the jesus of money for the next generations

Anyway, lets go back to speculation...  i can see in the charts second dump ... maybe who i am to telll it's time to sleep for now and get up with the news from Mtgox tomorrow and of course the countdown also for tomorrow maybe the etf? will see! good night bitcoin land!

Good morning Bitcoin land! I will have to quote myself from last night post .... i can see in the charts second dump... and that is what happened....

Edit if someone listened to me last night feel free to send some tips since i not get anything from my goxed coins yet
Prove this @@ that says that we keep our coins and send some to my address

[Lauda]

What happened since yesterday? Another mini-dump or are these still the after-effects of Jihan signalizing BU blocks?

You forget the chinese withdrawals that start tomorrow. When the chinese people see that the price is dropping they always panic and sell. So this means that wee can expect a drop tommorrow, and when ETF is not approved, what is likely to happen, will cause in an another drop. We are going to test 950 usd

You sound like a NLC shill account.