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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21530279 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (142 posts by 32 users deleted.)
bitserve
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June 20, 2017, 12:17:23 AM

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.

My bet is on a few selfish opportunist miners getting compromised (i.e., bought) WAY before a large, loose group of idealistic volunteer developers would.

It's pretty easy to spot the people who sell out (and/or get bought). They are the ones promoting changes that fly in the face of decentralization, enhancing their control and benefiting themselves the most.

But what would be the problem of that? I mean, BITMAIN already has control (direct+indirect) over 50% of Bitcoin. They can play all games they want, but if Bitcoin crashes for their stupidity (51% attack) they will be worthless. Of course, I would be much more relaxed when the mining markets becomes more decentralised with more big players. It will also be a sign of a more mature market.
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June 20, 2017, 12:32:31 AM
Last edit: June 20, 2017, 12:42:46 AM by Torque

Let's put it this way. If any future Bitcoin developers end up on Bitmain's payroll (either directly or covertly), then you might as well kiss Bitcoin goodbye because it'll be fully compromised by that point.

On another note: we are finally seeing some upward movement.  Smiley
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June 20, 2017, 12:55:37 AM
Last edit: June 20, 2017, 01:05:56 AM by bitserve

Let's put it this way. If any future Bitcoin developers end up on Bitmain's payroll (either directly or covertly), then you might as well kiss Bitcoin goodbye because it'll be fully compromised by that point.

On another note: we are finally seeing some upward movement.  Smiley


Aren't most principal Bitcoin developers already rich enough so that it would not be that easy to bribe/derail them from their own interest/investment?


And yes, I am expecting a new ATH when all the clouds around this scaling issue are gone (which would probably happen in less than a week from now).
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June 20, 2017, 01:06:22 AM

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.


New York City + bitdevs + bitcoin core = * ... u do the maths Cool
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June 20, 2017, 01:08:51 AM

That's right. But what makes you think that Core is no longer in the pockets of great economic players?
Thats my point. Different development groups are better than one.

Because Core is an extremely loose entity, unlike what would be put together by the New York group or Bitmain.

Sure, there's an inner circle and then there's everyone else, but it still gives far more room for dissent or alternative points of view.


New York City + bitdevs + bitcoin core = * ... u do the maths Cool

Enuff with the cryptic posts!!!  Angry

If you really have something to say, just say it damn it!
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June 20, 2017, 01:22:02 AM

The day we cease to speak about this topic will be a good day. On another note, the price had a nice spike and hopefully can run wild again soon.
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June 20, 2017, 01:28:42 AM

Let's put it this way. If any future Bitcoin developers end up on Bitmain's payroll (either directly or covertly), then you might as well kiss Bit[Suspicious link removed]dbye because it'll be fully compromised by that point.

On another note: we are finally seeing some upward movement.  Smiley


Well price went up again at $2,601 but I sold some before at $2,609 and no regrets, income is income.. Still waiting for more pumps and new ATH.
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June 20, 2017, 01:43:15 AM

On another note: we are finally seeing some upward movement.  Smiley


Yea Im not sure about that.  Sure positive and its come past resistance but its still got business to sort out.   Its bit messy to do this but a rough downtrend still can be drawn forming lower highs.  The surge upto 3000 is not included in that but thats kinda a thing that we see magnet effect in attraction and repelling from a point like 3000 and otherwise we have a negative trend to navigate.    Could be Im wrong just guessing but as it goes back to June start in this fast market its best to watch
So right this second its drifting past 2,600 as if nothing and that'd see the back of that negative trend idea.   2500 is rough resistance and now support so there is two points to gauge strength

Tonight Huobi looks most positive
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June 20, 2017, 03:21:32 AM

Digging the new uptrend, hopefully it'll last and continue upwards.

Will we see BTC steadily over $3000 soon?

I don't know, some altcoins gained lots of value, the recent rise could be people taking profits and going back to Bitcoin. Still need more time to call it a uptrend.
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June 20, 2017, 03:30:07 AM

Digging the new uptrend, hopefully it'll last and continue upwards.

Will we see BTC steadily over $3000 soon?

New uptrend?

It's the same old uptrend we've had for 22 months.

Surely you're not calling last week's little correction and short-lived Bitmain panic a downtrend, are you?
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June 20, 2017, 03:44:55 AM

So basically, 2X delays the Great Showdown for 3 months ? I cannot see Core backing the 2nd step (2mb), so i dont see any of them coming out in favor of 2X, unless they lie (doubtful) just to get SegWit in place. I cant wait til all this shit's over, but scaling will always be an issue just like we're still scaling the internet.
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June 20, 2017, 03:58:20 AM

So basically, 2X delays the Great Showdown for 3 months ? I cannot see Core backing the 2nd step (2mb), so i dont see any of them coming out in favor of 2X, unless they lie (doubtful) just to get SegWit in place. I cant wait til all this shit's over, but scaling will always be an issue just like we're still scaling the internet.

Why not back it? It is obvious we do also need a moderate (2x) blocksize increase even if Segwit is much more important for scaling.

On other news: http://www.investopedia.com/news/congress-bill-require-declaration-digital-currencies-us-border-bitcoin-homeland-security/
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June 20, 2017, 05:36:27 AM

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.



Oh you weren't at the Barry, Roger, Jihan, Craig Wright meeting?

They seem to have assisted some catalyst,and we may be getting some variation of segwit first, possibly in the near future?
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June 20, 2017, 05:48:08 AM

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.

From the headlines I've seen...Segwit2x is like calling the surveillance law the PATRIOT Act. It does not mean what you think it means. People agreed on it thinking it was Segwit plus 2Mb blocks. This is not so.
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June 20, 2017, 05:51:49 AM



The truth is ruling the (true!) philosophers.

Our task is to filter.

This is authority.
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June 20, 2017, 06:36:44 AM

http://www.bbc.co.uk/news/business-40338220
Barclays facing fraud charges.
For the sake of all of us Bitcoin has to work!
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June 20, 2017, 08:38:51 AM
Last edit: June 20, 2017, 11:27:20 AM by Last of the V8s

to clarify last night's discussion:
...
I'm going to call it now, segwit2x will be responsible for activating segwit at last due to overwhelming miner support, BUT great thanks to James Hilliard for introducing them to BIP91 which makes segwit2x compatible with the other segwit activations.

Watch this for the very rapid rise in segwit2x support that will happen fast now:
https://coin.dance/blocks

Segwit may well get a miner activated soft fork before BIP148's UASF which remains in limbo in terms of meaningful support but seems to have had the desired effect of forcing miners' hands in one way or another.

What happens after segwit though is a mystery, but there is enough miner hashrate support for 2MB that it might happen too.
very lolworthy that Hilliard is 1. a core dev. 2. works for 'bitmainwarranty' (not bitmain but still!)
but 3. wrote this bip91 to tie segwit in, to 'both' parties' satisfaction
miners' signalling has for the moment no real effect. the dates to watch are 14-21 July.
bitmain (viaBTC) may then later hard fork to make this chinacoin, which imnvho may have a little value as an altcoin

so, if there's any correlation to price with all this, sideways for ~4 weeks, then more likely than not blast off
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June 20, 2017, 10:24:01 AM

to clarify last night's discussion:
...
I'm going to call it now, segwit2x will be responsible for activating segwit at last due to overwhelming miner support, BUT great thanks to James Hilliard for introducing them to BIP91 which makes segwit2x compatible with the other segwit activations.

Watch this for the very rapid rise in segwit2x support that will happen fast now:
https://coin.dance/blocks

Segwit may well get a miner activated soft fork before BIP148's UASF which remains in limbo in terms of meaningful support but seems to have had the desired effect of forcing miners' hands in one way or another.

What happens after segwit though is a mystery, but there is enough miner hashrate support for 2MB that it might happen too.
very lolworthy that Hilliard is 1. a core dev. 2. works for 'bitmainwarranty' (not bitmain but still!)
but 3. wrote this bip91 to tie segwit in, to 'both' parties' satisfaction
miners' signalling has for the moment no real effect. the date to watch is 16 July.
bitmain (viaBTC) may then later hard fork to make this chinacoin, which imnvho may have a little value as an altcoin

so, if there's any correlation to price with all this, sideways for ~4 weeks, then more likely than not blast off

I am a bit out of the loop, what happens July 16?
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June 20, 2017, 10:33:38 AM

to clarify last night's discussion:
...
I'm going to call it now, segwit2x will be responsible for activating segwit at last due to overwhelming miner support, BUT great thanks to James Hilliard for introducing them to BIP91 which makes segwit2x compatible with the other segwit activations.

Watch this for the very rapid rise in segwit2x support that will happen fast now:
https://coin.dance/blocks

Segwit may well get a miner activated soft fork before BIP148's UASF which remains in limbo in terms of meaningful support but seems to have had the desired effect of forcing miners' hands in one way or another.

What happens after segwit though is a mystery, but there is enough miner hashrate support for 2MB that it might happen too.
very lolworthy that Hilliard is 1. a core dev. 2. works for 'bitmainwarranty' (not bitmain but still!)
but 3. wrote this bip91 to tie segwit in, to 'both' parties' satisfaction
miners' signalling has for the moment no real effect. the date to watch is 16 July.
bitmain (viaBTC) may then later hard fork to make this chinacoin, which imnvho may have a little value as an altcoin

so, if there's any correlation to price with all this, sideways for ~4 weeks, then more likely than not blast off

I am a bit out of the loop, what happens July 16?


I have a BBQ that day with the family.
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June 20, 2017, 10:39:51 AM

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.

From the headlines I've seen...Segwit2x is like calling the surveillance law the PATRIOT Act. It does not mean what you think it means. People agreed on it thinking it was Segwit plus 2Mb blocks. This is not so.

why am i not surprised...

i see nothing has changed here in bitcoin land.



I don't agree, this is a change, if things proceed as they now look, Wu Clan has clearly made a concession in allowing Segwit with the unenforceable promise of a 2Meg hard fork in 3 months (max).
My feeling is that everyone wants to just get past the Segwit activation, and then we can deal with the elephant in the room.

After 1st August, bearing in mind the concession, the fact that the  lightning network may take a year or two to implement on Segwit, and the Hong Kong agreement; the 2M block expansion needs careful consideration. Compromise is difficult, but sometimes necessary (I haven't decided my own stance yet).



Already 75% of miners are signalling Segwit2X
https://coin.dance/blocks
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