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

[WhatsBitcoin]

Do you think this correction is done yet? It's still not as deep as the one from May 25-27. It would have to go below $2k do match that.

It is not just a correction. I take it you have missed the Bitmain announcement/threat? I do not want it to go any lower, at least not yet.

You're right. I was too busy yesterday to even check in. Today I woke up, saw the price and ran out to buy.

So it's hard fork panic part two? Jeezuz Murphy. I'm looking into it.

Sigh.

You really have no idea what's happening. Do you.

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[toy4lov3rs]

Most importantly, it's fully anonymous. There are no banks, exchanges, governments or other corporations involved... just me and my paper wallets, some dude with a laptop or phone, cash and the blockchain.

Not to mention, the real reason that the banking industry is scared of bitcoin is that if it becomes popular as a form of the peoples' "savings", they won't get customers ongoing deposits to continue their massive fractional reserve scam... which they rely heavily on.

Absolutely. Almost anything is better than keeping your money in some bank.

Remember when "money in the bank" meant a sure thing? LOL

Ahh the good ol' days when everything made sense. I guess it's just a bit too much to ask a Bank to hold your money, you know kinda like what their initial purpose is.

[European Central Bank]

You really have no idea what's happening. Do you.

if he looks at his gains, he probably has a good enough idea. not everyone is hammering f5 on reddit for all they're worth.

[jbreher]

And who decides if the PoW is valid?

"They vote with their CPU proof-of-worker, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."
- S. Nakamoto, The Whitepaper

[jbreher]

We want something that scales to ten to twenty to a hundred times more transactions while keeping the blockchain as small as possible (without pruning).

Yeah - and I want to retire a billionaire tomorrow. In the meantime, I'd be happy with several million.

There is no defensible reason for strangling Bitcoin's transaction capacity today.

[Biro Bob]

+1 bitcoin is like a fine wine*    ~cheers!!

That'd make a good T-Shirt Slogan

[BlindMayorBitcorn]

$600 ago Bitcoin was the future. I wonder what it is now. 

The future.

You'll follow the BTU fork then?

[bitcoinvest]

For months now i see this... who not buy when was the time to buy they want now to f@ck everything in order to jump now to a train that they control?

I never going to hold anything else but only BTC. if this is going to happen cryptos are done for me and i am not alone

[ARTISTCOLONY]

BTCBTCBTCBTCBTC ===> there is no fork #nuke bitmanecoin ?  ~lols

https://s-media-cache-ak0.pinimg.com/736x/9c/fb/e2/9cfbe23f9727b0a1bc779439ab0ccccf.jpg

[spooderman]

And who decides if the PoW is valid?

"They vote with their CPU proof-of-worker, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."
- S. Nakamoto, The Whitepaper

i too, have read the whitepaper.

[Torque]

Day trader extraordinaire Greg Mannarino chimes in on the Bitcoin shakeout:

https://www.youtube.com/watch?v=QM7d1orIEvo

Really sharp guy, good advice

[DieJohnny]

Anyone else feel that Bitcoin would be a world dominator already if it wasn't for human greed, stupidity, and corruption?

Human nature is clearly Bitcoin's biggest weakness..... what satoshi should have done is embed consensus protocol rules into how the code was managed and released. No debate, just information and observation.

[Torque]

Anyone else feel that Bitcoin would be a world dominator already if it wasn't for human greed, stupidity, and corruption?

Human nature is clearly Bitcoin's biggest weakness..... what satoshi should have done is embed consensus protocol rules into how the code was managed and released. No debate, just information and observation.

Yes. Satoshi probably never envisioned where miners would 'block' needed upgrades to game the system to their advantage, or over politics (i.e., that they can be bought by bad actors to deliberately slow Bitcoin's progress. Of course this could happen to any crypto).

I also blame Gavin et. al. for not addressing the double spend bug and hooks to enable something like LN much earlier, before the big miners got involved and ruined everything. You can't reverse something once it's in the code and accepted by the miners.

[STT]

I dont think its beyond imagination that the slimmer we got on numbers of miners and determiners for bitcoin overall that we entered into dangerous waters.     Not the details of how but the fact that a few people will fall over in their thinking and end up making bad choices, that almost seems inevitable.  
  The mistake is really that bitcoin allows the concentration of power not the story I picked up a few years ago which is decentralisation.  People making mistakes whatever their motivation is perfectly normal, happens all the time but the problem is where those who make mistakes are not left behind but are the captain of the ship and everyone goes down with that rigid thinking that can never be changed.    That is not new technology really, its going to be disappointing to be labelled in that way

All I expect to survive is genuine innovation, if it has to picked out of the wreckage that is unfortunate.  I'd hope we can go around a mistake in some way, save time and money and I mean collectively as a new movement not that loss can be eliminated but it should be recognisable and avoidable surely.


Kraken shows itself as past the downtrend of the last 42 hours.   As always I'm more confident when a previous trend is confirmed, usually that means down and recovery from there as an echo so sideways maybe around 2050 from here is positive.
Overhead looking at a reaction to $2600 and 18195 CNY for direction.
With this recent retraction upwards, on a daily candle thats holding the trend since April which is bullish longer term

[European Central Bank]

Day trader extraordinaire Greg Mannarino chimes in on the Bitcoin shakeout:

https://www.youtube.com/watch?v=QM7d1orIEvo

Really sharp guy, good advice

i really don't believe central bankers are sitting at their desks hammering sells on btc-e. we'll know if they really arrive to screw the markets and it'll make anything we've seen before pale in comparison. it'll be apocalyptic. that's if they'd allow markets to survive anyway. all they have to do is threaten a few banks and it's back to p2p forever.

[savetherainforest]

And who decides if the PoW is valid?

"They vote with their CPU proof-of-worker, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."
- S. Nakamoto, The Whitepaper

i too, have read the whitepaper.

Does anyone know an e-mail system based on the blockchain??   ... Or some kind of messenger app??   ... Or do I need to invent one?



(*edit:)  btw... up! up! up!



                                                                  

[Last of the V8s]

Sure, bitcoiners have their faults. But we are up against far greedier, more stupid and more corrupt forces than ourselves.

The ICBC pushes its pet Bitmain to make half-arsed power plays, and it dumped a few thousand coins and etherea on the market to decimate the price. Doesn't work.

The CIA pushed Hearn around to introduce heartbleed and Gavin to get big blocks and cut off the first adopters. Didn't work.

Ethereum scams, backed by some banks. Don't work.

No, there hasn't been a concerted push by all the central banks yet, and that would be a proper struggle, but they're mostly too complacent and foolish to understand how dangerous bitcoin is, how it breaks everything.

It even shattered satoshi's vision.

[Elwar]

And who decides if the PoW is valid?

"They vote with their CPU proof-of-worker, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."
- S. Nakamoto, The Whitepaper

i too, have read the whitepaper.

Does anyone know an e-mail system based on the blockchain??   ... Or some kind of messenger app??   ... Or do I need to invent one?

I believe ZenCash is working on something like that or already did.

[becoin]

Does anyone know an e-mail system based on the blockchain?

https://bitmessage.org/wiki/Main_Page

[JayJuanGee]

blitz? is that you??

still not believing the triple digit lie?

I'd probably change my name too after the "no more triple digits in 2013" thing.

I always found it quite surprising how we could have a quasi-bear shill as a moderator... go figure?