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

[MinermanNC]

So it would seem that there will be no spilt chains, and everyone is breathing and buying Bitcoin again. 

So 2500.00 by the end of the day? 

[Elwar]

So, can someone explain the blue shading and black lines under the graph on here

https://www.xbt.eu/

I am not sure for the rest, but the first bar (BIP91 LOCK-IN) I believe the black bar represent the 269 out of 336 blocks (80%).

For the one below, the black bar represents current signalling for BIP91.

Not sure about the rest of it though.

Ahh, I think the blue in the second line is the % of BIP91 for a longer period...perhaps a day or so.

[Meuh6879]

It does activate Segwit. You have a fundamental misunderstanding if you think that it does not. BIP91 will start orphaning non-SW signalling blocks after it has 80% of the blocks for 72 hours (IIRC). This means that the traditional activation mechanism will see a spike to 95% (BIP9) which requires 2 weeks to lock in Segwit, and then another 2 weeks to activate it.

my problem is the time, the interval of the rise of the 61% of "this" Segwit2x blocks versions.
in less than 12h, they have switch from produce Bitcoin Core Official version block ... to "here" specific version.

in less than that, they can switch from Segwit2x commented code ... to a closed one (BU style).
they already fail to do this with Bitcoin XT (38%).

that's why i warn the community to stay & watch this evolution closesly because of this mining sector (the 61%).

I would believe of the "trust" of the mining sector (the 61%) ... but they did not prove they were trustworthy in following the basic rules. They want to create their own coin each time by forcing the nodes to use their client with the more than 51% mining power.

It's not new.
And that's why i survey the BIP9 only ...

Interesting times. I hope that lock-in period will succeed the first time but considering these two big pools and several small pools aren't signalling BIP91 yet, it may take some time for it to happen.

Agree.

[ShroomsKit_Disgrace]

They're gonna get burned again.

Exactly as they got burned in May making 10x in most of the big alts? 

[Ted E. Bare]

Torque became bearish? What is wrong with this place...

At least Elwar, Jimbo, Dafar, becoin, LFC and rjclarke are still around.

[Elwar]

So it would seem that there will be no spilt chains, and everyone is breathing and buying Bitcoin again. 

So 2500.00 by the end of the day? 

What I look forward to most is Lightning Network.

[xhomerx10]

It's getting near my bedtime but I'm sleeping alone tonight and we're getting so close to $2300 I can't stop watching.

Damn you Bitcoin.  

 I've noticed your "Good morning Bitcoinland" is getting later and later these days.  Make sure 'n get that beauty sleep.  What good will all your riches be if you're not healthy enough  to enjoy it? 

[rjclarke2000]

Torque became bearish? What is wrong with this place...

At least Elwar, Jimbo, Dafar, becoin, LFC and rjclarke are still around.

Still bullish and here for the long term buddy.

[Slow death]

John McAfee is taking bets:

In the long term Bitcoin moves above  $500,000 within three years. Bets?

https://twitter.com/officialmcafee/status/887012614131372032

Send legal contract bet to:
John McAfee
98 Scott Street. Lexington, TN. 38351


I would definitely take a $500k bet knowing that in 3 years I can sell one of my bitcoins for $500k to pay off the bet happily. Or he gives me $500k. Win win.

Well, the problem is nobody knows what $500k can buy you after 3 years!

Furthermore McAfee is talking about JihanCoin! HE said he will follow Jihan, meaning bigger Blocks.
So this isn' really relevant as I doubt this hardforked coin will have any significance and probably not being called Bitcoin.
His price prediction is also totally crazy. He is talking about a $10 trillion market cap. That guy should definitely stop consuming drugs!
It's also weird that he said he would eat his own dick on national tv if this price prediction should not happen. I mean WTF?!

This guy @McAfee, is crazy. does not mean $5000? Maybe at the time he must have gotten so excited and with too much drugs in his blood made his brain confuse 5000 with 500.000 and now that he already said 500.000. there's no way back with his promise


“Anyway, “Segregated Witness” or “SegWit” is a Swiss army knife in terms of benefits. It leads to improvements on so many levels it’s actually surprising. It’s really, really good. So good that it’s worth listing out all of the benefits. It fixes the substantial transaction malleability problem once and for all, enabling second-layer scaling solutions like Lightning. It 1.7x’s the # of single-signature transactions per block and up to 3.7x’s the # of multi-signature transactions per block.” said Shea.

https://www.cryptocoinsnews.com/bitcoin-chain-split-hard-fork-not-likely-miners-agree-segwit/

[Torque]

Torque became bearish? What is wrong with this place...

At least Elwar, Jimbo, Dafar, becoin, LFC and rjclarke are still around.

Still a permabull long term, but it's not wrong to be objective in the short term.

A price breaking upward through ~$2460 or so with RISING buy volume/pressure would signal a trend reversal. We would need to break the pattern of lower highs and lower lows into the next month.

Otherwise, we are still firmly in a downtrend. Because gravity. Also, overall crypto market cap still decreasing.

[JayJuanGee]

That is even better. As long as miners stick to THEIR OWN roadmap we will all be fine... And with all the weak hands shaken during this last correction the rise after all the uncertainty dissapears could be impressive.

The only reason that I somewhat like BIP91 is because it can (and possibly will) prevent the split on August the 1st. The latter part of it, i.e. the hard fork, may end up being a disaster (if it happens).

There seem to be some people asserting that there are versions of BIP91 being run that only accomplish the segwit activation portion of segwit2x and NYA and don't do anything regarding the 2x portion.  I am in the midst of attempting to have such a conversation with ck, here:  https://bitcointalk.org/index.php?topic=1928093.msg20212423#msg20212423

Sounds like you are experiencing some regrets, Lauda?

I execute trades every $50, and everything went pretty smooth with me, except for a mistake that I made at $1859.  For some reason I sold twice at $1859, when I thought that I was executing buy orders.. I still cannot figure out what I did exactly, so in order to recover, I had set buy orders to buy back my mistake at $1840 and $1820, but alas, we never returned to those prices.. at least so far.

No. I am not a trader, or at least not a day trader. I can't bother to move cold storage funds to an exchange for these swings and trading with a few thousand USD is waste of time for me. So, you didn't manage to buy back in yet? I certainly did expect it to spiral down that much, that quickly.

I did not buy back in yet, and like i mentioned, it is not a big deal to me because it only amounts to about .2% of my total BTC related holdings.  I have certainly made much bigger mistakes, and I was also buying all the way down to $1800 (on some exchanges), so I am doing o.k. with the trading part.

Regarding how rapidly the price dropped, yes, I was surprised too.  I had buy orders set down to $1500, but there were some places that I had not really thought it through to well and my orders were a bit scrambled up in the $2000 to $1500 arena.. because, like you, I did not think the price would go down that far and that fast, and I did have some more money that would have been prepared for below $1500 - but I would have been scrambling a bit with those funds too, if such an event would have occurred - so yep, I am feeling a bit better, now that the below $1800 and furthermore the below $1500 are looking less imminent - even though there could be scenarios in which we go back in that direction... but right now upwards seems to have quite a bit of decent pressure and volume and there even seems to be some fundamental reasons that this BIP91 signaling could end up facilitating some solid progress on the segwit front... .. it is like the market is starting to know that the stars are coming close to aligning (in the buy the rumor and sell the news context)

Oh .. and thanks for you clarification of BIP91 and BIP148.  It seems that however many times these explanations are repeated, there are further opportunities for confusion proliferation, which can come from the content of one or two erroneous posts...

I'm somewhat inclined to say that it's rather much simpler than people claim it is, but that may be cognitive bias. The problem with it is that 'what can' and 'what will' happen keeps changing. It is still not definite that a split will be prevented. The odds just keep changing.

There are quite a few variables out there, and even when you are asserting to be "out of the loop",  you seem to be able to identify some of the more important factors, which I find to be helpful... and at the same time, each of us knows that we have to take our internet feed back with some grains of salt... in attempting to figure out which characters might be more reliable than others in terms of providing decent perspective(s).

[DieJohnny]

Stamp going bonkers, is this just manipulation or are there real whispers of bypassing the fork in the wind?

[Searing]

Stamp going bonkers, is this just manipulation or are there real whispers of bypassing the fork in the wind?

looks good to me for bypassing fork (assuming I have my many flavors of protocol correct)

https://coin.dance/blocks

[micalith]

Stamp going bonkers, is this just manipulation or are there real whispers of bypassing the fork in the wind?

looks good to me for bypassing fork (assuming I have my many flavors of protocol correct)

https://coin.dance/blocks

Sorry for my ignorance, I'm not sure what you're reading there. What is it that indicates that we're bybassing now that wasn't there yesterday?

[leowonderful]

I personally don't like the sudden and extreme rebounds and drops we've been having, but I guess it's better than the slow death after the 2013 peak. Activation period for BIP91 begins in 7 hours, we shall see if it goes through then or not.

[JimboToronto]

Well good morning Bitcoinland.

I see yesterday's gains are holding and we're creeping even further upward... currently $2360USD (Bitcoinaverage).

It seems the death of Bitcoin was in Mark Twain's words, "greatly exaggerated".

I've noticed your "Good morning Bitcoinland" is getting later and later these days.  Make sure 'n get that beauty sleep.  What good will all your riches be if you're not healthy enough  to enjoy it? 

Thanks for your concern but don't worry. I still get my 6-8 hours of sleep every night.

My biological clock was set back in the 1970s when I played music 6 nights a week. Last call was at 1:00AM in Ontario back then and by the time we finished drinking up the beers we were bought during our last set and then packing up our gear, it was 2:00AM before we got out of the bar. By the time we had a few more beers and something to smoke and eat, it was 4:00-5:00AM. That's why I generally wake up at the crack of noon.

[MinermanNC]

Everything will be fine, just like in 1999  

Goal 2500 by end of day (est)

[bitserve]

344BTC Bid wall at 2034.99€ on Bitstamp KRAKEN

[Genesis1337]

what does peter todd mean by this?



it appears the market wants segwit, guessing ATH within hours if BIP91 locks in segwit

[crypto research]

I don't expect the price to recover so quickly, but those are the breaks.

Not when the financial news section about bitcoin currently reads:

This grotesque bubble is blowing apart right now

Please go in your silver hole and stay there.