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

[kludzins]

Notice that all the shitcoins are left completely alone by the media and eternal FUD machine. They are being completely ignored, because they pose no threat at all.

Then why do you need to comment it? Looks like you are the one feeling threatened here  

Actually looks like I hit a nerve, eh? Did you panic sell at the bottom?  

Torque actually you are only one constantly mentioning here shitcoins, altcoins and  how guys loosing money there.
Looks funny.

[luckygenough56]

I wanted to share the following:
A lot of uncertainty around Bitcoin today does not help. Many people who don't know shit are throwing their money into crypto. I personally receive noob questions everyday now at work.
They are totally forgetting what I said about Bitcoin two years ago since now they want a quick buck. And that's so annoying and frustrating to say the least.

When most people ask me to be initiated to bitcoin and trading, i just tell them to stay the hell away from bitcoin. They would get slauthered in no time. They are just too naive and not tech savy enough for bitcoin, hell, they can barely handle a computer. You can feel it in less than 2 minutes of talking to them.

A guy with trading experience is another thing. Then again bitcoin is its own beast and doesn't really work on news....so still tricky.

My main criterias would be someone smart, logic, quick learner and AUTODIDACT ! Someone who can handle basic mental arithmetics also.

I still didn't find that someone

[r0ach]

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

You wot m8?

Bitcoin is already designed to centralize regardless of what the block size is because energy costs on the globe are not uniform, giving you some type of sparse grid/matrix covering the earth like this:



Such a centralization factor could be survivable if this was the only negative variable built into the system, but then ASICs came along to give you a secondary, multiplicative, negative effect and turning that matrix into something like this:



The creation of ASICs was the doomsday event and now you just have a cartel controlled rent seeking usury system with no hint of any type of Nash equilibrium.  I don't believe this gives any credence to Lauda or UASF forker's "proof of node" scheme, which is just a backdoor Sybil attack, it just means proof of work is pointless if you can't defeat ASICs and have a system always mineable by commodity hardware that can't be "cornered" so to speak.  (proof of stake has also always been pointless with no value, don't even mention it)

The third variable about proof of work I left out:  economy of scale.  There are arguments economy of scale would also terminally centralize bitcoin, but then there's a few contradictory arguments like the waste heat being useful for a water heater or something.  Some seem to think the waste heat would only be useful on a small scale, but I imagine industry would figure out a way to make better use of it eventually whether it's running a green house or other obscure scenario.

[Dakustaking76]

Guy's matter of second kraken price hits 2535 

[Watari]

Guy's matter of second kraken price hits 2535 

but then back to normal levels. very weird though.

[Last of the V8s]

Guy's matter of second kraken price hits 2535 

but then back to normal levels. very weird though.

"Just bung a million euros on it, bound to pay off eventually."

I like his style.

[Pajulapoiss]

I only recently started taking crypto world seriously, I remember doing research about mining BTC  back in 2014, unfortunately I only read some Estonian forums,  where was said and confirmed that mining isn't really profitable, and I lost all interest.

Young and stupid back then, knowing nothing about life beyond working 8-5, drinking every weekend, not giving shit about anything that goes above my head, the perfect modern slave.

 3 years later, ~ 3 months ago I got approached by someone offering GAINBITCOIN (which is probably a Ponzi) cloud mining service, and the guy was constantly sharing fb news, how BTC had reached another ATH after another.

Having been traveling Australia for the past 1.5years, I have become so much more wiser in every aspect of life. + I have managed to stack up some dough.

That reached my newsfeed and I have been progressively learning and getting more & more involved and interested about it ever since.

I find that bitcoin goes perfectly with my new understandings of LIFE. Banks are robbing people, money has no real value. Medical industry is all about profit! War's are being created to sell weapons! Water is being poisoned, forests cut down, most countries in the world are totally corrupt! People are being waged against each other, divide and conquer every day, all day! And the worst thing is, not so many people even understand that all this is going on, that it' s being done to profit the very few. The very few who are doing everything in their power, to stop people from waking up the from the illusion. They want to  make people dependent on them and stop people from decentralizing their lives,  they are taking more and more extreme action to lessen privacy, limit free will & speech.  Seeding powerlessness and fear into the human consciousness.

BUT WHAT A WEAPON BITCOIN IS! A weapon of TheVeryFew  destruction. That of course if the so to speak enlightenment reaches critical amounts of people's minds.

I hear talk of the bitcoin community everywhere. ICO's threads, posts, news, comments. But where is that community that everyone is talking about? I hear about scaling issues, I don't know the technical of how to fix it, but that's not important, I'm sure there are people who have a fair idea of how to do it. Do it in a way that  maintains the very essence of Bitcoin. Keep it as decentralized as possible. Don't mess anything up! GIVE THE POWER BACK TO THE PEOPLE!
If that means not highening the block size, so be it. "...Well but the network fee is too high then!" well go use some other coin to pay for your coffe if it's too high.. One should use Bitcoin as a cryptocurrencies vault, from where one can send a larger amount to another wallet, which is to be used for daily purchases.
 Don't close the door on the guy who has his miner in the basement. If there is no people, there is no value.

An account where you only deal with bigger sums. Why?
 because it's  as safe as it gets and the fees are too high for daily purchases!
Its not that hard to understand really...

Now coming back to the community, where is it? Where can I join?
If  it's not here,  then we better start organizing, because the enemy is not sleeping, they're lurking in the shadows, waiting for the chance.

[BlindMayorBitcorn]

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.

Maybe the Bitmain chain will end up being our layer 2.

[luckygenough56]

i wonder if bitcoin will try another ATH before end of august, there's definitely some steam left in it. 3300 maybe.

in anycase there are good chances that we stay in the 2000s and get another bull run at the end of the year.

[Elwar]

I wanted to share the following:
A lot of uncertainty around Bitcoin today does not help. Many people who don't know shit are throwing their money into crypto. I personally receive noob questions everyday now at work.
They are totally forgetting what I said about Bitcoin two years ago since now they want a quick buck. And that's so annoying and frustrating to say the least.

I had 2 people in the same day ask me about PotCoin. I don't know anything about it other than the obvious that they are trying to make a crypto for the pot shops in the US. I just told them that it would be a good investment if it is actually being used in the shops. With the knowledge that some of the shops are switching to bitcoin payments.

[Last of the V8s]

... lots of good stuff about the cruel world snipped ...  bitcoin community ...

There really is no such thing. That's like saying 'http believers'. It's just a computer protocol, which more or less works.

I wanted to share the following:
A lot of uncertainty around Bitcoin today does not help. Many people who don't know shit are throwing their money into crypto. I personally receive noob questions everyday now at work.
They are totally forgetting what I said about Bitcoin two years ago since now they want a quick buck. And that's so annoying and frustrating to say the least.

I had 2 people in the same day ask me about PotCoin. I don't know anything about it other than the obvious that they are trying to make a crypto for the pot shops in the US. I just told them that it would be a good investment if it is actually being used in the shops. With the knowledge that some of the shops are switching to bitcoin payments.

This is indeed good news for bitcoin. Think potcoin was pumped recently when it sponsored some ex-sports star to visit N.Korea ...

edit: Dennis Rodman ?

[Torque]

Daniel B., head of decentralization at Microsoft, schooling Bitmain on what a "decentralized currency" means

https://twitter.com/csuwildcat/status/875466464626565120

[Searing]

i wonder if bitcoin will try another ATH before end of august, there's definitely some steam left in it. 3300 maybe.

in anycase there are good chances that we stay in the 2000s and get another bull run at the end of the year.

So the consensus on here that Bitmain's UAHF is not gonna amount to much even if UASF goes thru? This all supposedly comes to a head in August.

are we talking a 'tantrum' here without any real threat of implementation?

What I'm thinking...but wth do I know

[Pajulapoiss]

... lots of good stuff about the cruel world snipped ...  bitcoin community ...

There really is no such thing. That's like saying 'http believers'. It's just a computer protocol, which more or less works.

Ah..i now see the problem. There is no community, instead there's religious lunatics?   I mean they're just believers aswell.


Anyway, as you said, if there is no real community, and if it's true, then I truly think that this is not in favor of the people. But if it's not for the people, then what's the point? I may aswell go back to the bankzters, and not go through all the trouble if it's gonna end up the same anyway.

[criptix]

How much mining power does bitmain own?

Antpool has ~17% so it should be logical to say they have less then 17%?
Imagine they take away 15% of the mining power from one second to the other at the start of a new difficulty.

Enough chaos for the short of your life.

[Gyrsur]

Bitmain is the cancer of BitCoin!

[Elwar]

i wonder if bitcoin will try another ATH before end of august, there's definitely some steam left in it. 3300 maybe.

in anycase there are good chances that we stay in the 2000s and get another bull run at the end of the year.

So the consensus on here that Bitmain's UAHF is not gonna amount to much even if UASF goes thru? This all supposedly comes to a head in August.

are we talking a 'tantrum' here without any real threat of implementation?

What I'm thinking...but wth do I know

It would not be a Bitmain "User Activated Hard Fork" it would be a Bitmain Activated Hard Fork (BAHF).

[criptix]

Bitmain is the cancer of BitCoin!

Jihan is the trump of crypto.

[Gyrsur]

Bitmain is the cancer of BitCoin!

Jihan is the trump of crypto.

+21,000,000.00000000

 

[Torque]

... lots of good stuff about the cruel world snipped ...  bitcoin community ...

There really is no such thing. That's like saying 'http believers'. It's just a computer protocol, which more or less works.

Ah..i now see the problem. There is no community, instead there's religious lunatics?   I mean they're just believers aswell.


Anyway, as you said, if there is no real community, and if it's true, then I truly think that this is not in favor of the people. But if it's not for the people, then what's the point? I may aswell go back to the bankzters, and not go through all the trouble if it's gonna end up the same anyway.

Actually what LotV8s said is a little misleading. It's true that at it's core, Bitcoin can be seen as just another technology that works, like the internet.

But I would disagree that their is no community. For a form of good money to be seen as 'valuable' among a growing group of individuals across the world, there has to be belief. Belief that it (Bitcoin) is more valuable than other forms of money, or at least as valuable. It's a bottom-up, voluntary approach. Hence: a community of like-minded individuals forms around that money. Call it a tribe, call it whatever you want, but it's still a community.

In the same way, it can be said that Goldbugs or Silverbugs are a community.  Same can be said with communities that form around other private money like the Totnes pound.

Fiat currency has no community, because individuals are forced to use it by their respective governments for most things. It's a top-down forced approach.