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

[metacoin]

BTC is currently good at, maybe even the best in the world at, being a:

• Store of value
• High-value transfer mechanism (currently $500 or more makes sense given the fees)
• Third-party-free payment system. For example: PayPal might close my account if they don't like what I'm doing with my own money on their network. That won't happen if instead I pay using the Bitcoin network.

We are starting to see why altcoins exist. Imagine a situation where some blockchain apps were written in a protocol on top of OP_RETURN in Bitcoin instead of in a separate chain. Now imagine that app has more of a parasitic relationship with the blockchain than a symbiotic one due to the properties of the Bitcoin blockchain. Some alt chains exist because Bitcoin isn't the right place for those experiments. It's a bad engineering decision to hope the baseline protocol doesn't shift from under your feet if you build on top of a blockchain whose user base does not have a consensus in agreement with whether or not your app is healthy for the ecosystem. I think it is better for both systems to separate concerns rather than try to fit a square peg in a round hole.

[Dabs]

(And thank you, Dabs, for helping me to get started w/ PGP several months ago, I use it fairly frequently)

You're welcome. I use it all the time if the other guy has PGP / GPG too. (And VPNs and Tor.) Even if all I'm going to say is "Hey dude/bro, what's up?"

In my family, we just use text messaging apps with end to end encryption, easier for them. (Viber, Signal, WhatsApp)

It used to be on blockchain.info I could see how many nodes has a particular transaction as well as an estimate of when it will be confirmed, but now they are gone.

[micalith]

Can't believe ETH hasn't crashed yet.

What dumb fucks are actually holding that?

example:

https://www.youtube.com/watch?v=fUVTb8-i93s

I am so conflicted. I live to HODL but I yearn to dump on people like this

well that's easy.

hodl bitcoin

dump ETH.

done 

Hey, I've not been frequenting the forums as much as I used to. Can one of you explain why there's such vitriolic anti-ETH sentiment here? It seems to be more than just the usual competitive banter

[JimboToronto]

I can't believe that people allow themselves to get suckered by obvious intimidation walls like the ask wall at $1925 at Stamp.

If it had gotten nibbled, it almost surely would have been pulled.

 

[Cassius]

It amuses me when maximalists confuse an 'ought' (or 'can') with an 'is'. The reality is that businesses troll traders are obliviously just getting on and using non-bitcoin blockchains (= alts shitcoins) for all kinds of things fleecing newbs out of their $$$ without any regard to those arguments.

FTFY

That's happening too. But it's probably incidental. There's an obvious market need for small transactions that Bitcoin has become incapable of filling. Alts are here to stay.

99.7% bitcoin troll trading, FOMO buying as a store of value, or currently spamming the network
0.3% or less people trying to buy a coffee or some other real world transaction (like buying drugs, gambling, etc.)

And I'm being generous, the real ratio is probably way worse than this. So the farcical arguments really need to stop.

Well, I ordered four things for BTC in the last week. The Cryptosteel and SD card were both complicated by delayed txs. At this point, PayPal would be more convenient, which is not cool.

[JimboToronto]

Can one of you explain why there's such vitriolic anti-ETH sentiment here? It seems to be more than just the usual competitive banter

My guess is that both Ethereum and Ripple are centralized coins run by slick businessmen who can create unlimited coins as they desire.

Both are despised. Honest Bitcoin clones like Litecoin are better tolerated.

[European Central Bank]

Hey, I've not been frequenting the forums as much as I used to. Can one of you explain why there's such vitriolic anti-ETH sentiment here? It seems to be more than just the usual competitive banter

because deep down it means less dollars for bitcoin holders, but most of them won't admit this out in the open.

it's also pissed all over the core principles of crypto but that's far less important.

[chopstick]

Poloniex is retarded, millions of dollars pump random shitcoins at complete random. And the thousands of traders just jump on at any given time or moment, with no rhyme or reason or logic.

Hence why Bytecoin, Stellar, Ripple etc etc have all jumped up in value to retarded levels.

I mean seriously, Bytecoin? Stellar? WTF?

One could have made a fortune on almost any coin just by investing in shitcoins 3 months ago on poloniex and holding for 3 months.

[JayJuanGee]

Can't believe ETH hasn't crashed yet.

What dumb fucks are actually holding that?

example:

https://www.youtube.com/watch?v=fUVTb8-i93s

I am so conflicted. I live to HODL but I yearn to dump on people like this

well that's easy.

hodl bitcoin

dump ETH.

done 

Hey, I've not been frequenting the forums as much as I used to. Can one of you explain why there's such vitriolic anti-ETH sentiment here? It seems to be more than just the usual competitive banter

Hello???


This is not an ethereum or alt coin thread... .Does that help to explain?

[micalith]

Can one of you explain why there's such vitriolic anti-ETH sentiment here? It seems to be more than just the usual competitive banter

My guess is that both Ethereum and Ripple are centralized coins run by slick businessmen who can create unlimited coins as they desire.

Both are despised. Honest Bitcoin clones like Litecoin are better tolerated.

Ripple is indeed fully centralised greed machine, which I think has a chance of turning out like the Lloyds insurance group, where allot of people loose allot of money as soon as one point of failure (in this case, the necessary TRUST in Ripple management) is compromised. Although it had a pre-mine, Ethereum isn't centralised like Ripple, and from what I heard, the mining is less centralised than Bitcoin currently is, though I read that quite a while ago so things might have changed since then.

The infinite Ether coins thing, I agree, doesn't sit well with me, but I gather there's a functional necessity for that. Some day I'll get round to reading more white papers...

But yeah, I see where people are coming from now, thanks Jimbo

[Torque]

Can one of you explain why there's such vitriolic anti-ETH sentiment here? It seems to be more than just the usual competitive banter

My guess is that both Ethereum and Ripple are centralized coins run by slick businessmen who can create unlimited coins as they desire.

Both are despised. Honest Bitcoin clones like Litecoin are better tolerated.

On Ethereum, not to mention the following:

1. Vitalik himself said that he didn't create Ethereum to be a competitor to Bitcoin (i.e., apples vs. oranges) and didn't think of it as a traditional cryptocurrency at all. He didn't believe it should even hold value. Its focus is primarily for smart contracts and intelligent apps.
2. Centralized: 70M out of 90M originally premined, crowd sale, float is tiny. Vitalik himself stands the most to benefit from higher price. It goes to the moon, he personally will be the crown prince.
3. No long term cap
4. HUGE attack vector compared to Bitcoin. More hacker surprises are likely.
5. Forks constantly
6. No merchant adoption or support that I can see
7. Likely to change to POS, which sucks even more.
8. Anything that big industry promotes (i.e., IBM, Microsoft, banks, etc.) is highly suspect.
9. Currently getting pumped with mega margin by troll traders, WAAAY overvalued, definitely in a bubble

-- annnndd lastly---

10. THE NAME SUX BIGTIME

[elrippo]

BTC is not made for micropayments in terms of seconds with this idiotic mempoolsize, absoloutely not.

Example: Wanted to pay the pizzas with a beer for my girlfriend and myself at 2109 ó clock, did the payment with max fee on bitpay. After 15min bitpay didn't receive my payment and i had to pay the purchase at my local pizzastore cash. One hour after i did the initial payment, it was still in the mempool.

Gavin, BTC will not make the adoption with this absurd mempool size limitation, i still prefer XMR Monero, hence there is no kind of mempool and/or blocksize limit --> noted this to my local pizza store 

[B1tUnl0ck3r]

Zcashclassic (ZCL) got :



massive!

some were able to grap a 500k sat coin @ 10k sat and lower in a matters of seconds... and back @ 200k sat.

[JayJuanGee]

I can't believe that people allow themselves to get suckered by obvious intimidation walls like the ask wall at $1925 at Stamp.

If it had gotten nibbled, it almost surely would have been pulled.

 

It appears that they were not bluffing.

There were more than 800 coins at $1925

490 BTC were bought immediately (about 10 minutes ago), and then another 100 nibbled.

Currently (as I type), 250 coins still there, and have not been pulled yet.

Either way, its days look numbered.... Is days the right word?

[kurious]

Poloniex is retarded, millions of dollars pump random shitcoins at complete random. And the thousands of traders just jump on at any given time or moment, with no rhyme or reason or logic.

Hence why Bytecoin, Stellar, Ripple etc etc have all jumped up in value to retarded levels.

I mean seriously, Bytecoin? Stellar? WTF?

One could have made a fortune on almost any coin just by investing in shitcoins 3 months ago on poloniex and holding for 3 months.

So did you?

If you had, maybe you would have cashed out on Polo, which - unless you want USDT - would have been by buying BTC.

All Polo alt prices are basically in BTC - it's the exchange with the biggest BTC turnover in the world. Maybe it's a positive factor where we are?

Just saying, it's not all bad news.

[European Central Bank]

Poloniex is retarded, millions of dollars pump random shitcoins at complete random. And the thousands of traders just jump on at any given time or moment, with no rhyme or reason or logic.

Hence why Bytecoin, Stellar, Ripple etc etc have all jumped up in value to retarded levels.

I mean seriously, Bytecoin? Stellar? WTF?

One could have made a fortune on almost any coin just by investing in shitcoins 3 months ago on poloniex and holding for 3 months.

So did you?

If you had, maybe you would have cashed out on Polo, which - unless you want USDT - would have been by buying BTC.

All Polo alt prices are basically in BTC - it's the exchange with the biggest BTC turnover in the world. Maybe it's a positive factor where we are?

Just saying, it's not all bad news.

then you have to pull it out of poloniex. unless you got lucky then you're probably still stuck at $2000 a day because they're so slow to verify you. so if you have a true fortune it's gonna take you months to get out.

[Meuh6879]

it's the exchange with the biggest BTC turnover in the world.

and a giant honey pot, too ...
remember bitfinex ?

https://www.youtube.com/watch?v=CN4RdrN80ic

[B1tUnl0ck3r]

it's the exchange with the biggest BTC turnover in the world.

and a giant honey pot, too ...
remember bitfinex ?

https://www.youtube.com/watch?v=CN4RdrN80ic

when this one will explode...

[JimboToronto]

I can't believe that people allow themselves to get suckered by obvious intimidation walls like the ask wall at $1925 at Stamp.

If it had gotten nibbled, it almost surely would have been pulled.

 

I guess I was wrong about that. Unlike similar bid walls on the recent way up which were pulled almost in their entirety, it is actually being eaten.

It started to get nibbled away, had half of it eaten in one big chunk, and the rest is being gradually nibbled away in small pieces.

Seems strange they would offer all those coins at one fixed price rather than staggered steps to maximize returns. Hmmm.

As I was typing, the last 200 coins were eaten in one big gulp.

[European Central Bank]

when this one will explode...

i truly hope that day never comes. but if i had a large value tied up in alts i would use another exchange, and if it wasn't on a better one i'd wait for it to be listed on there. i don't trust them.