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

[bones261]

You'd better withdraw all your bitcoins from Bitmain before 1st August!

I wish that I could. But I  purchased a contract, so I have to settle for whatever they pay me back with. No option to opt out early. I suppose that I could attempt to sell my Bitmain account, but I haven't really attempted to do a p2p trade and would probably get scammed.

[becoin]

Since UASF doesn't look like it'll go very far, I also doubt they'll bother with that.

Oh, UASF will go very far believe me!

[N12]

Since UASF doesn't look like it'll go very far, I also doubt they'll bother with that.

Oh, UASF will go very far believe me!

Oh yeah? They got 80% hash power?

[becoin]

Since UASF doesn't look like it'll go very far, I also doubt they'll bother with that.

Oh, UASF will go very far believe me!

Oh yeah? They got 80% hash power?

It doesn't matter how much hash power do they have. What does matter is that nobody in their right mind wants their bitcoins turned into chinacoins!

[N12]

Since UASF doesn't look like it'll go very far, I also doubt they'll bother with that.

Oh, UASF will go very far believe me!

Oh yeah? They got 80% hash power?

It doesn't matter how much hash power do they have. What does matter is that nobody in their right mind wants their bitcoins turned into chinacoins!

So how many exchanges are on board with UASF? How many wallets?

UASF has neither mining majority nor economic majority. I wish it was different, but that's the reality.

[becoin]

Since UASF doesn't look like it'll go very far, I also doubt they'll bother with that.

Oh, UASF will go very far believe me!

Oh yeah? They got 80% hash power?

It doesn't matter how much hash power do they have. What does matter is that nobody in their right mind wants their bitcoins turned into chinacoins!

So how many exchanges are on board with UASF? How many wallets?

UASF has neither mining majority nor economic majority. I wish it was different, but that's the reality.

Exchanges and wallets doesn't matter as the number of their customers doesn't matter. What does matter is how many network nodes are UASF activated and relay or refuse to relay txs from those exchanges and wallets.

[bones261]

So how many exchanges are on board with UASF? How many wallets?

UASF has neither mining majority nor economic majority. I wish it was different, but that's the reality.

Here is the list on who supports it at the moment.

http://www.uasf.co/

I don't see any major exchange on the list. But I just scanned it briefly, so I might be missing something.

[BlindMayorBitcorn]

Whatever happens it seems some sort of chain-split is inevitable. That's my bet. But I don't seem to be doing anything about it. Which is odd.

[Dotto]

Delicious

[becoin]

Whatever happens it seems some sort of chain-split is inevitable. That's my bet. But I don't seem to be doing anything about it. Which is odd.

I'm doing what needs to be done. I'm accumulating more bitcoins, so after the split I can sell all the chinacoins I'll get and accumulate even more bitcoins.

[bitserve]

Whatever happens it seems some sort of chain-split is inevitable. That's my bet. But I don't seem to be doing anything about it. Which is odd.

Welcome to the club. Maybe your reasons for not doing anything are the same as mine... the moment to sell was a thousand above. Maybe it could keep going down but if didn't sell before, I won't be doing it now no matter what.

If someone is doubting between selling now or sometime soon if things get uglier, maybe he should just sell now and go on with his life.

[d_eddie]

Not sold a bean and not planning to.

Who's with me? Who is strong enough?

I wish I had some fiat to buy even more.
In a few days I'm expecting to get some. I just hope the low tide lasts until then, which I doubt. I guess by Monday morning we'll be on the way up to 2300. Maybe next weekend there will be another panic wave?

[cryptothinker]

Bitcoin being Bitcoin... But I did not expect it to be tested to its limits

[User705]

Since UASF doesn't look like it'll go very far, I also doubt they'll bother with that.

Oh, UASF will go very far believe me!

Oh yeah? They got 80% hash power?

It doesn't matter how much hash power do they have. What does matter is that nobody in their right mind wants their bitcoins turned into chinacoins!

So how many exchanges are on board with UASF? How many wallets?

UASF has neither mining majority nor economic majority. I wish it was different, but that's the reality.

Irrelevant.  The only thing that matters is how many holders are for it.  The notice of the big Segwit2x agreement should've stated how many BTC they all have.  That would mean something.  Wallets and exchanges means exactly bupkis because wallets and exchanges will service the owners of BTC not the other way around.  

[N12]

Holders don't matter shit. This is proof of work, not proof of stake. WTF are you going to do with ownership of essentially altcoin Bitcoins you can't exchange for the tons of fiat on the exchanges?

Ideologically, I'm on your side, but you UASF cultists are striking me as increasingly delusional.

[Lauda]

I think it's starting to sink in with some people that FrankenSegwit may not come out with sound code; and with it's planned Hardfork, come November, it's just kicking the can down the road a little for another major forking threat.

It has horrible code. One of the hardcoded seeds is basically an anti-privacy (chain analysis) company by Garzik.  

Weak hands are not afraid of 1st Agust, as you said they would have sold earlier. Weak hands are dumping because they are afraid of the dumping other weak hands started. That's all.

In other words: Speculating on possible negative scenarios?

The biggest bubbles of our time are the dollar, the euro, the yen, the pound... When they pop bitcoin price will be measured in hundreds of thousands.

What's the point of Bitcoin being worth $100k if those $100k are almost worthless? If all traditional currencies collapse, then we will have to fundamentally change how we value Bitcoin.

[Paashaas]

If Jeff fails with coding the x2 part we wont see a HF, even Jihan's BitcoinABC coin will be a flop..so i expect full Segwit support within 2 weeks. The price might drop more during this climax..i see so much FUD.


Anyway, this is a good time to buy my coins back.

[Torque]

Whatever happens it seems some sort of chain-split is inevitable. That's my bet. But I don't seem to be doing anything about it. Which is odd.

Welcome to the club. Maybe your reasons for not doing anything are the same as mine... the moment to sell was a thousand above. Maybe it could keep going down but if didn't sell before, I won't be doing it now no matter what.

If someone is doubting between selling now or sometime soon if things get uglier, maybe he should just sell now and go on with his life.

If one believes in Bitcoin in the longer term, believing it to be superior to all other cryptos and that eventually things will sort themselves out, then the best advice is to do absolutely nothing but sit on your bitcoin and watch the ongoing fiasco.

If all one cares about is a quick flip for cash, then they should sell immediately and walk away.

Belief is the ONLY thing that gives bitcoin its value long term. We need the true believers.

[User705]

Holders don't matter shit. This is proof of work, not proof of stake. WTF are you going to do with ownership of essentially altcoin Bitcoins you can't exchange for the tons of fiat on the exchanges?

Ideologically, I'm on your side, but you UASF cultists are striking me as increasingly delusional.

LOL
The delusion is thinking that economic majority is the workers that work for owners.  That's like thinking the household staff is somehow the economic majority of the house instead of the owner that pays the bills.  It's not proof of work it's proof of having a private key that controls your bitcoin.  ETH and ETC split, the foundation sold all their ETC for ETH which was a huge % so ETH ended much higher but both combined were much lower in the immediate aftermath because the friction and transfer costs of having two camps switch into the currency they wanted to be in was pretty large.  Same will happen here.  Just make sure you pick the right one.

[BlindMayorBitcorn]

Most of the nodes are still Core. The west doesn't seem to have the same interest in bigger blocks. How the hellfire are the Chinese supposed to evade capital controls with a Bitcoin nobody wants to buy?

Edit: but they must want it for a reason so I must be missing something. I always do.