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

[Ted E. Bare]

Shorters running out of ammo. Did everyone survive?

[1713559897]

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[MinermanNC]

Well that little bump up ran out of gas pretty quick. This could get even more interesting 

Better brace yourselves lol

[r0ach]

Panic now or wait till 1945 is breached and the flood gates open to $16xx?

[eiskalt]

Shorters running out of ammo. Did everyone survive?

Nope, all dead ...


... but the spirit survived ...



... resurrection hopefully on schedule.

[leowonderful]

Looks like we'll fall another hundred tonight. Seems about right for a legit-looking rollercoaster this time. Given the trend I'm not going to buy yet but I will be buying at 1600 if we get there

[eiskalt]

Panic now or wait till 1945 is breached and the flood gates open to $16xx?

Lots of resistance inbetween.:

1945 - 1933 - 1929 - 1918 - 1914 - 1870 - 1848 - 1815 - 1789 ...

If 1789 does not hold, we will sure as hell fall back into the early middle-ages ... could aswell be the end of civilization...

[r0ach]

For anyone who doesn't know how this game works, the second a bunch of people make some enormous life changing amount of money, that's when the whole house of cards comes collapsing down for a reset into a new bear market before next bull market begins.  People like Vitalik are up +$100 million, and traders who know absolutely nothing about cryptocurrency but bought Eth due to hype made lots of money from the R3 criminal bankers pumping it.

All of those people will now create a rush for the exits as the price collapses.  When nobody is up some enormous amount of money after an extended period of time, there's a chance for another bull run to begin.  This is the same thing that played out in the metals market with the bear run pretty much reaching it's end now.

[Ted E. Bare]

Nah guys this was it. The double bottom. Enjoy your cheap coins, from here we should buy them back up.

[r0ach]

Nah guys this was it. The double bottom. Enjoy your cheap coins

I remember the "cheap coins" guy back from June:

This would mean cheaper coins

cheaper coins

cheaper coins

[Ted E. Bare]

r0ach you sold your coins around $500, correct? Why do you spend your entire life on bitcointalk if you don't like bitcoin?
You have been arguing that bitcoin will fail since $800. Today we are at $2000, lol.

[MinermanNC]

I think we'll see a replay of today. Bounce up about 100 to 2080 then back down again in 12 hours lol

[r0ach]

r0ach you sold your coins around $500, correct?

No, but feel free to make up more stuff.  I did sell most at $2700 then the rest at $2500 though.

[pfrtlpfmpf]

Trying to get the next 10000 USD to Stamp. Damn, Banks are so slow, i thought its a matter of clicking "Enter" on a computer !
Bankemployees are clearly overpaid.

Crypto will wake them up, no doubt

[Elwar]

Double bottom is in.

[ssmc2]

More bottom to come...

[pfrtlpfmpf]

Double bottom is in.

I see "biting into it" potential in the one on the right side, butt certainly not in the second image

[r0ach]

Double bottom is in.

It sounds like you need to power up via Alex Jones Super Male Vitality pills in order to spot the real bottom:

http://www.youtube.com/watch?v=xCkS8RXCDUs

[Elwar]

Double bottom is in.

It sounds like you need to power up via Alex Jones Super Male Vitality pills in order to spot the real bottom:

http://www.youtube.com/watch?v=xCkS8RXCDUs

Alex Jones is a hack. I know for a fact that he doesn't check the sources of his news.

I was on a satire website called "The Obama Forums" where we trolled anyone and everyone who came to the site with fake threads (it was pretty obvious if you spent 5 minutes reading the ridiculous stuff we put on there. We had one thread that said "List all of the websites that are anti-Obama and we will make sure they are blocked when he is elected". We had many right wing websites including Alex Jones's page.

He eventually got wind of this and went on his radio show claiming that Obama wanted to block conservative websites including his own.

The dude is smart, I'll give him that. Scaremongering for money. Do what you gotta do I suppose.

[Elwar]

Most would not recognize this technical analysis pattern as they are still using old tools but this is a little known pattern known by all of the experts:

[pdpanzer]

I would be against changing algo in Monero too, even if ASICs were devised, thing is, as the protocol stands ASICs are not impossible, it just won't be as good as Bitcoin's ASICs when you compare them to CPUs and GPUs mining SHA256.

I wouldn't be against ASICs if they were available in a commoditized market, like computers or GPUs are. The problem with ASICs as they are now is that it's a seller's market.

In the market as it is now, only one firm makes and sells ASICs. The same firm, or some subsidiary, also mines. This already smells bad as they compete with the other miners (their potential clients). When that firm produces a new, more powerful model, it doesn't get on the shelves immediately: first, the firm uses it to mine while the ASIC still is way ahead of the other hardware and has a strong competitive advantage. After a while, when the competitive edge is dulled, they'll sell the machine to selected clients (not just anyone), with the understanding that the client will "behave" or be excluded from the next sale.

An alternative PoW could help keep more balance - for example, one block every 4 (or 2, or 10) must use a memory-intensive PoW. This ratio could be dynamic, there are many possible strategies that could be tested. With a memory-heavy PoW, there's a lower bound to the cost of the chip which is the RAM it requires. If the required RAM were in the 4-8 GB per processor ballpark, building ASICs wouldn't be that cheap anymore.

Just need a way so that the more you own, the higher the costs to sustain it. The blockchain equivalent of a tax. Now, since you can create infinite addresses at no cost, creating that tax on the "wealthy" (avoid too much concentration) requires some thought. This would put a limit to concentration within the logic itself. Coins with built in governance can do a bit of this, by allowing the community to vote, but have the same problem that you can't tell if a person has 100000 addresses or wallets or 1. One path towards it is to create functionality that rewards linking wallets of the same entity such that it create inconvenience or less safety of being one entity and using a large number of unconnected addresses. There must be a way to tax more those with large amounts. But, the larger groups would not push this, and this has more chances on a new coin and that can only happen when/if coins highly concentrated have bad results for smaller holders -> these would be the ones adopting such a coin that taxes very high concentration. This would also solve as ASIC owner would be limited - the more they mine the more they are taxed, and thus best interest in owning more by selling ASIC, not mining it themselves at a higher cost.