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

[YourMother]

As long as there's electricity on Earth, you cannot break the blockchain protocol. Just like you cannot break, for example, the bittorrent protocol, no matter how many resources you put in. Basically, bitcoin offers you a mathematical guarantee that, as long as you are involved in the network, you regain full control of your money, along with a plethora of technological advantages. And for the ones who are adopting it in these times of exaggerated uncertainty, a large amount of financial wealth.


The FUD, the charts, the bans and the regulations are nothing but cavalry swords trying to stop a tank in its tracks. You either adapt or you perish. We'll meet at $20,000 i guess... maybe with some other interesting facts.  

[jbreher]

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.  

What!? We are all to blame. All us simple users who abdicated our power. We made the mistakes. We could have each of us done the hard thing, and find some way to mine profitably. But no. We each of us took the easy way out, allowing others to do it for us.

You want someone to blame for the centralization? Look in the fuckin' mirror!

[BlindMayorBitcorn]

^You want unicorns and altruism. That's in the ETH section.

[jbreher]

I'm talking about the Bitcoin Unlimited/Bitmain chain.

There is no Bitcoin Unlimited/Bitmain chain.

If indeed there is a split, I will have coins on any and all chains. While there is no way to know the future, I anticipate that the UASF chain will atrophy to insignificance within days of creation. Does that make the remaining chain the Bitcoin Unlimited/Bitmain chain? Doesn't seem likely. While Bitmain is still signaling BU, they have recently declared yet another fork, as a defensive move against UASF.

Of course, the Bitmain plan will create blocks compatible with any blocks built according to BU (the Bitmain plan is to be capable of including SegWit transactions*, but they don't seem likely to actually include such). And XT blocks are compatible with those. As are Classic blocks. As are 8MB blocks. All happily on one chain. Maybe that's what you mean?

The net kinda looks as if UASF will die, and legacy is likely to be the next runt of the litter.

As I said before, I've not been this encouraged about the future in months.

[Igor76200]

We have to pick a name for the forked thing.

Bitcoin-china
Bitcoin-made-in-china
BTCCP
Bitmaincoin
Bitmaininchinacoin

Pick the one you like

I wonder how Bitcoin illiterates all over the world will see this since the average human being don't even understand what Bitcoin is. Now telling them it splitted in two ! Oh I know : ultimate proof of unreliability and scam.

[bitserve]

When the time comes to  spend some to buy something like property or fiat currency, the blockchain will serve as a record of when I acquired the coins so capital gains tax can be calculated and paid. Until then it's nobody's business except mine.

And you can get away with paying less capital gains tax, if the most recent paper wallet you are exchanging today is dated less than a week ago. I'll leave it to your imagination. You might even possibly register losses too, but that's unlikely since you wouldn't be buying fiat at that point.

Indeed. This is one reason I keep my coins in many small wallets.

As I've stated in many times in the past, I have no intention of selling any coins except if absolutely necessary.  If an emergency were to occur during a dip and I needed to sell more than I could through an ATM for cash, at a price lower than the highest I'd paid, I'd definitely claim a loss.

If you claim that the latest bitcoins you bought are the ones you sold (and either claim a loss or a small profit).... How do you plan to declare the previously bought bitcoins if you ever need to sell them for banking fiat in the future?

I mean, if you do that you are basically claiming the latest bitcoins you bought are the first/only ones you got. You could have a hard time later proving you had some more when you yourself declared you don't.

Or maybe canadian law is different in this specifics.

[marcus_of_augustus]

Ibian, doing more of the same stuff in the same way is the least intelligent possible way to scale. And in fact, attempting to do that in bitcoin actually causes problems to increase more rapidly than benefits.

(Do I have to explain why larger blocks create runaway centralisation?)

It can be done pretty much literally by changing one number, it has the least potential complications and has to my understanding already been tested with no meaningful complications.

You are right, if we could literally just change one number ... the average IQ of the big blocking cartel .... bitcoin capacity increases could start moving forward again.

[spooderman]

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?

It was me who was bullish the entire time since the 200s until now while people like you were pissing their pants. Go look it up.

What you don't understand is that there are less risky (low risk, high reward) and more risky (high risk, low reward) times to be a hodler. Guess which time is now.

Sorry man, I'll never get sick of reminding you about the "triple digit lie" you highlighted in summer 2013. it literally spent 3.5 years in the triple digits after you said that.

My main concern is ETH fucking up once too often and somehow screwing up bitcoin in the process. So much money is getting thrown in the fire with these scam ICOs.

And I expect a little turbulence in July before UASF kicks in. Hopefully the pathological miners don't do anything stupid like fork themselves into oblivion or continue to mine legacy.

[N12]

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?

It was me who was bullish the entire time since the 200s until now while people like you were pissing their pants. Go look it up.

What you don't understand is that there are less risky (low risk, high reward) and more risky (high risk, low reward) times to be a hodler. Guess which time is now.

Sorry man, I'll never get sick of reminding you about the "triple digit lie" you highlighted in summer 2013. it literally spent 3.5 years in the triple digits after you said that.

My main concern is ETH fucking up once too often and somehow screwing up bitcoin in the process. So much money is getting thrown in the fire with these scam ICOs.

And I expect a little turbulence in July before UASF kicks in. Hopefully the pathological miners don't do anything stupid like fork themselves into oblivion or continue to mine legacy.

No problem man, nostalgia is always welcome.

Yeah, I agree with you on both counts. We've got to shake off those scamcoins and get miners back in line.

[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?

It was me who was bullish the entire time since the 200s until now while people like you were pissing their pants. Go look it up.

What you don't understand is that there are less risky (low risk, high reward) and more risky (high risk, low reward) times to be a hodler. Guess which time is now.

I remember enough about the substance of your previous provocative posts to doubt that your track record is as stellar as you make it out to be. 

Furthermore, there is nothing wrong with having high confidence in your views, and communicating those views.  On the other hand, I would not characterize my approach as a pissing your pants approach, because since I started buying in late 2013, I had a strategy that I largely stuck with, tweaked and continued to follow through 2015.  So my strategy of buying on the way down and holding had worked pretty well for me, even if there may have been ways to have made more money - but I am not competing with anyone, except myself or at least attempting to tailor my approach to myself and my circumstances and in that regard, there is no one stop shopping correct strategy for everyone, as you seem to be suggesting. 

Ha.           

And, welcome back to posting  in  this thread ... trying to keep us on our toes.   

[Torque]

I wonder how Bitcoin illiterates all over the world will see this. Since the average human being don't even understand what is Bitcoin. Now telling them it splitted in two ! Oh I know. Ultimate proof of unreliability and scam.

Well, initially this was my concern too. But after the ETC/ETH split, it became clear that ETH was what was going to be supported by brokers (Coinbase, Gemini, etc.) and exchanges. Now I hear complete newbs to the crypto world talking about buying "Ethereum" and they are clearly referring to ETH. Most don't even know that ETC exists, much less that there had been a split.

So long term I'm not sure it will matter.

TL;DR - Bitmaincoin may just end up becoming another shitcoin in China. Perhaps even adopted by the PBOC as China's official crypto. Maybe they've already been in private discussions about that, who knows.

[European Central Bank]

TL;DR - Bitmaincoin may just end up becoming another shitcoin in China. Perhaps even adopted by the PBOC as China's official crypto. Maybe they've already been in private discussions about that, who knows.

if such a thing ever happened i'm not sure i'd even call it a chain split. bitmaincoin would be an offshoot. and an immediately shunned one too.

[suzanne5223]

and congratz for who sold at 3000 enjoy the holidays

Actually, congrats to those buying this dip, we may never see 2K again.

I agree with you but it a good idea to now because the price will still fall down more for days before it rise up to the moon. Therefore, I congratulation those who watch the price closely in other to make some quick buy before the price race up again.

[leowonderful]

and congratz for who sold at 3000 enjoy the holidays

Actually, congrats to those buying this dip, we may never see 2K again.

I agree with you but it a good idea to now because the price will still fall down more for days before it rise up to the moon. Therefore, I congratulation those who watch the price closely in other to make some quick buy before the price race up again.

Why? There's plenty of support at this level and it seems the worst is already over. If this trend continues we'll either go down a little and up or just sideways for a short time and back up. Triangles forming nicely right now, looks like we will soon go back up.

[HI-TEC99]

and congratz for who sold at 3000 enjoy the holidays

Actually, congrats to those buying this dip, we may never see 2K again.

I agree with you but it a good idea to now because the price will still fall down more for days before it rise up to the moon. Therefore, I congratulation those who watch the price closely in other to make some quick buy before the price race up again.

Why? There's plenty of support at this level and it seems the worst is already over. If this trend continues we'll either go down a little and up or just sideways for a short time and back up. Triangles forming nicely right now, looks like we will soon go back up.

I'm not too worried if it goes up or down. About a month ago we had an ATH of $1800, and a month later it's dipped back down to a 24 hour low of $2120 on stamp. Half a year ago it was below $1000. Even today's dips are great prices compared to six months ago.

It's another ATH on bitstamp, it's broken past $1800. Now $2000 is getting extremely close. Bitfinex has an ATH of $1867, only $133 off that magic $2000. It shouldn't take stamp too long to catch up after bitfinex breaks that target.

[cellard]

If [someone] wanted to, they could fill these block up over night [by spending a lot of money on fees]. Either that, or you could get enough demand that would fill it up very quickly [which is both what we want and why we need it]. You will end up asking for X MB afterwards, which would further centralized Bitcoin whilst not improving [efficiency].

Using terms like "malicious attacker" doesn't convey any useful information, it's an attempt to make people feel a certain way about the topic being discussed. And that is what makes you a sophist. Anyone has the right to send any amount of transactions they want for any reason or no reason, that's one of the main points about bitcoin. No middlemen regulating what is allowed.

We need more throughput. Otherwise this is as big as bitcoin is going to get. Squabbling over how it should be done instead of actually doing it is hurting everyone.

There will be (eventual) block size increases, everyone in Core team agrees with this, the problem is when you pretend to do a rushed hard fork like the ones in the NYC thing want, which can not even agree amongst themselves after signing the so called contract which is just silly.

Lets get segwit NOW with BIP141, then an eventual proper HF with more stuff than just a mere blocksize increase.

The fact that we are discussing this is just insane.

[N12]

Anyone heard of that USD altcoin? It's said to be the world's reserve currency and one of the few hard fiat currencies with only around 2% inflation p.a. I'm really bullish on the BTC/USD pair, I expect the USD to rise some more.

[orpington]

Anyone heard of that USD altcoin? It's said to be the world's reserve currency and one of the few hard fiat currencies with only around 2% inflation p.a. I'm really bullish on the BTC/USD pair, I expect the USD to rise some more.

never heard of it

[Torque]

Anyone heard of that USD altcoin? It's said to be the world's reserve currency and one of the few hard fiat currencies with only around 2% inflation p.a. I'm really bullish on the BTC/USD pair, I expect the USD to rise some more.

never heard of it

I heard it once had a hard fork from some shiny yellow metal. The metal fork coin has been doing just ok since, but the USD one is more popular with the peeps it seems. I think the yellow metal coin was the better value though.

[JimboToronto]

Anyone heard of that USD altcoin? It's said to be the world's reserve currency and one of the few hard fiat currencies with only around 2% inflation p.a. I'm really bullish on the BTC/USD pair, I expect the USD to rise some more.

never heard of it

I heard it once had a hard fork from some shiny yellow metal. The metal fork coin has been doing just ok since, but the USD one is more popular with the peeps it seems. I think the yellow metal coin was the better value though.

Shinycoin.ico