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

[600watt]

I sold 54 coins... about half of my stash. I don't feel good about it at all guys    


I really want this BU mess to be over with, but at the moment there's too much uncertainty and lots of panic (not from me, but others). Some people are "voting" for segwit by dumping their coins hoping to punish the miners (Jihan Wu) into supporting segwit.


I want my bitcoins back.....  

Sounds to me like you actually did panic

I probably did... but also took a calculated risk, I dont think the risk/reward of the situation is reflected at a price of $1000+ right now. I took a bet that there is a higher chance that I can get back in lower than miss out on a rally with the current climate

did you buy back already? good luck, mate.

[1714156412]

1714156412

[Dafar]

I sold 54 coins... about half of my stash. I don't feel good about it at all guys    


I really want this BU mess to be over with, but at the moment there's too much uncertainty and lots of panic (not from me, but others). Some people are "voting" for segwit by dumping their coins hoping to punish the miners (Jihan Wu) into supporting segwit.


I want my bitcoins back.....  

Sounds to me like you actually did panic

I probably did... but also took a calculated risk, I dont think the risk/reward of the situation is reflected at a price of $1000+ right now. I took a bet that there is a higher chance that I can get back in lower than miss out on a rally with the current climate

did you buy back already? good luck, mate.

No... I'll wait a few days

[Ted E. Bare]

The dump was extremely excessive, I guess it makes sense for the price to recover somewhere in between at least.

[alexeft]

https://twitter.com/BitfuryGeorge/status/843478250500358144

bitfury threatens to sue if there's a proof of work change.

would a proof of work change drive more miners to unlimited and then they can all be fired or would it drive some compromise?

Eh, they won't have to sue. Jihadi Wu only has 33% of hashing power and the others got the message from the market reaction.

[Chevas Regal]

Bitcoin back to 4 digits now, it is now time for altcoins to sink, already sold some of my lisk at 20k SAT which I bought at 9k SAT, around 2.63btc profit today.

[Killerpotleaf]

I sold 54 coins... about half of my stash. I don't feel good about it at all guys    


I really want this BU mess to be over with, but at the moment there's too much uncertainty and lots of panic (not from me, but others). Some people are "voting" for segwit by dumping their coins hoping to punish the miners (Jihan Wu) into supporting segwit.


I want my bitcoins back.....  

Sounds to me like you actually did panic

I probably did... but also took a calculated risk, I dont think the risk/reward of the situation is reflected at a price of $1000+ right now. I took a bet that there is a higher chance that I can get back in lower than miss out on a rally with the current climate

did you buy back already? good luck, mate.

No... I'll wait a few days

at least you still have a bunch and a ton of cash .

[julian071]

Fuck, all this volatility and I only made 1.7%  I suck at trading.....

[Torque]

As usual, the short-dumper bottomed out... and now he's gonna make everyone who panic-sold doubt the market from 970 all the way back up to their sell point.  

[Holliday]

Is there any practical reason why bitcoin couldn't be patched so miners can set their own blockreward?

Of course. The absolute rejection of the users of any chain containing blocks that deviate from the established reward schedule.

Is there any practical reason why bitcoin couldn't be patched so miners can set their own blocksize?

Of course. The absolute rejection by the users of any chain containing blocks the deviate from the established size parameters.

I wasn't really looking for an answer. My version was rhetorical. I think you understood that, though.

Firstly, node operation does not require SSD latencies. HDD speeds are fine. So 25 bux. Yet... so what? Less than 0.2 BTC? Waaaaaah. Buck up buttercup - those that refuse to invest shall be rightfully cast aside. And good riddance to you too. It would be one thing if you even tried... but... I guess you're just too. damned. insignificant.

Storage isn't the real concern. It's RAM (in the short term) and bandwidth (in the slightly longer run).

[alexeft]

Is there any practical reason why bitcoin couldn't be patched so miners can set their own blockreward?

Of course. The absolute rejection of the users of any chain containing blocks that deviate from the established reward schedule.

Is there any practical reason why bitcoin couldn't be patched so miners can set their own blocksize?

Of course. The absolute rejection by the users of any chain containing blocks the deviate from the established size parameters.

I wasn't really looking for an answer. My version was rhetorical. I think you understood that, though.

Firstly, node operation does not require SSD latencies. HDD speeds are fine. So 25 bux. Yet... so what? Less than 0.2 BTC? Waaaaaah. Buck up buttercup - those that refuse to invest shall be rightfully cast aside. And good riddance to you too. It would be one thing if you even tried... but... I guess you're just too. damned. insignificant.

Storage isn't the real concern. It's RAM (in the short term) and bandwidth (in the slightly longer run).

At larger blocks (hence more tps) and larger databases, SSDs will be the only way to go. You can trade SSD for RAM all you want, but the truth is that expensive resources will be needed that are not easily available. Hence, decentralization goes down the drain.

For Bitcoin to be bitcoin, we need average JOE to be able to run a full client easily.

[JayJuanGee]

I sold 54 coins... about half of my stash. I don't feel good about it at all guys    


I really want this BU mess to be over with, but at the moment there's too much uncertainty and lots of panic (not from me, but others). Some people are "voting" for segwit by dumping their coins hoping to punish the miners (Jihan Wu) into supporting segwit.


I want my bitcoins back.....  

Sounds to me like you actually did panic

Yep.


Each of us, especially longer term HODLers and accumulators, should attempt maintain various plans that we do not take such extreme measures, like selling 50% of our coins during a dip.

Selling during a dip is a bad idea in the first place, but sometimes, there are events and news that may cause someone to reasonably conclude that the price is going much lower, and in those cases we may want to sell a decent percentage of our stash on the likelihood that the price will continue to drop... But, still we gotta be careful because frequently the opposite can occur, especially in bitcoinlandia....

Even in panic mode I cannot see myself selling more than 10% at any one time, and maybe up to 20% in a real worse case scenario. This FUD about BU doesn't really seem to rise to the level of anything in which we should panic.  Am I wrong?

[JayJuanGee]

Segwit First!

^screw seqwit+ screw btu ... lets just increase to 2mb and get on up to $2000 ladies? 

Are you retarded?

What is the justification to move up to 2mb?

If there is no justification, besides merely "sounding like a good idea", then there should be no need to presume that 2mb actually resolves anything - besides caving into some whiners and maybe even bringing some disadvantages.
 

Anyhow, we should not be advocating to do things just because it "sounds nice"

[Genesis1337]

we are the majority deal with it

segwit? we should just do UASF

[Ibian]

Segwit First!

^screw seqwit+ screw btu ... lets just increase to 2mb and get on up to $2000 ladies? 

Are you retarded?

What is the justification to move up to 2mb?

If there is no justification, besides merely "sounding like a good idea", then there should be no need to presume that 2mb actually resolves anything - besides caving into some whiners and maybe even bringing some disadvantages.
 

Anyhow, we should not be advocating to do things just because it "sounds nice"

Double the transaction capability (and lower fees as a side effect) is plenty of reason. It's the people who are against growth that have some explaining to do.

[Meuh6879]

we are the majority deal with it

Agree.

[eddie13]

Segwit First!

^screw seqwit+ screw btu ... lets just increase to 2mb and get on up to $2000 ladies? 

Are you retarded?

What is the justification to move up to 2mb?

If there is no justification, besides merely "sounding like a good idea", then there should be no need to presume that 2mb actually resolves anything - besides caving into some whiners and maybe even bringing some disadvantages.
 

Anyhow, we should not be advocating to do things just because it "sounds nice"

How about, so the amount of people that want to use Bitcoin can actually use bitcoin..
That sounds like a very good reason.. Because right now, they can't..

[JayJuanGee]

With this climate it could be a dead cat bounce indeed.

Than again, those tokens finex made may have turned the tables on value? lol idk, but I'm getting fomo heh

Hahahaha

You gotta give a bit to Bitfinex for innovation.

I don't know if this is going to encourage or discourage forking, though.

It seems likely to provide a kind of way to gain some measure of sentiment, though.

[JayJuanGee]

Segwit First!

^screw seqwit+ screw btu ... lets just increase to 2mb and get on up to $2000 ladies?  

Are you retarded?

What is the justification to move up to 2mb?

If there is no justification, besides merely "sounding like a good idea", then there should be no need to presume that 2mb actually resolves anything - besides caving into some whiners and maybe even bringing some disadvantages.
 

Anyhow, we should not be advocating to do things just because it "sounds nice"

Double the transaction capability (and lower fees as a side effect) is plenty of reason. It's the people who are against growth that have some explaining to do.

This seems like a strawman argument.

You try to say that people are against growth, and that is nearly pure bullshit.

If there is not a meaningful justification for increasing to 2mg.. meaning that the advantages outweigh the disadvantages, then merely continuing to say it is a good  idea seems like nonsense.

Regarding growth.  Bitcoin is growing and going to continue to grow.  Some changes take more time than others to go into effect, and it remains important to be attentive to security....   Remember the goofball BJA used to argue that Bitcoin had way more security than it needs; however, as the value goes up, security is going to remain important for bitcoin.

So, yeah, if in the shorter term bitcoin becomes more of a storage of value, then so be it.  We do not need to rush bitcoin into something in which is it not quite ready (which is competing directly with credit cards).  Bitcoin is going to evolve and likely take over a variety of payment methods, but these kinds of developments are going to continue to take time and we cannot rush them out... merely on some kind of "sounds nice" ideas.

[alexeft]

Segwit First!

^screw seqwit+ screw btu ... lets just increase to 2mb and get on up to $2000 ladies? 

Are you retarded?

What is the justification to move up to 2mb?

If there is no justification, besides merely "sounding like a good idea", then there should be no need to presume that 2mb actually resolves anything - besides caving into some whiners and maybe even bringing some disadvantages.
 

Anyhow, we should not be advocating to do things just because it "sounds nice"

How about, so the amount of people that want to use Bitcoin can actually use bitcoin..
That sounds like a very good reason.. Because right now, they can't..

Median confirmation time (with fee) is in the 10 to 20 minutes range. The fee is 1-2 dollars. The rest of the transactions that you see are spam (-ish. )It's just that you can't buy coffee with it, but then, why should you if the underlying technology (the computers on which bitcoin runs) does not currently allow you to?

Faith and patience my friend. It is predicted that by 2020 or so, SSD disks will have approached the cost of HDDs. I suppose that would be a good time to increase the block size.

[Holliday]

It's the people who are against growth that have some explaining to do.

Yeah, 'cuz no one has given any reasons anywhere why it's a good idea to keep blocks small.

:/