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

[marcus_of_augustus]

Merged mining implies you are deferring to the other chain as a source of truth/security.

... yeah, all you've done here is make clear that you don't understand merged-mining without furthering the debate in the slightest.

[r0ach]

I've already explained numerous times why bitcoin has zero value as a settlement layer:

1)  It has built-in rent seeking middlemen (transaction validators) and doesn't remove counter party risk since you're always relying on all kinds of external parties to facilitate transactions

2)  Alternatives already exist before the creation of bitcoin that are far superior for settlement such as gold and silver that actually do remove counter party risk and don't have built-in rent seeking middlemen

You keep saying this. Over and over again. But it's NOT TRUE AT ALL if you want to transact in PMs with someone not just down the street (like in another state or another country). Or want to transact a HUGE amount of PMs. In both scenarios which you need armored cars and middlemen seeking transport/transaction/storage fees.

You have no point.  If someone is buying 100 pounds of crack rocks, it doesn't matter if he's paying with bitcoin or metals.  He would need to show up in person and utilize some type of security, otherwise he's operating solely on a reputation system or the word of the other person to send him the goods.  Your statement is completely irrelvant in comparing bitcoin and metals since it affects both the same.  But, my statement was OBVIOUSLY not referencing that type of counter party risk.  

If I own metals, a blackhole or something needs to hit the earth to destroy it.  There is no counter party risk.  If I own bitcoin, it's FULL of external actors and variables that can undermine the system and kill it.  Even innocuous so called "upgrades".  Maybe Luke Jr wants the block size to be 1 kilobyte while another guy wants it to be 20 gigs.  The fact that they don't agree can cause the system to implode or fracture.  Stop playing stupid and pretending bitcoin isn't full of external variables completely out of your control that cause huge counter party risk. 

As for buying stuff from other countries, bitcoin doesn't magically eliminate the need for sending stuff by boats.  You don't get to make believe there's always going to be a giant manufacturing plant in the sky called China where you send infinite amounts of digital US T-bills or bitcoin to, and China will be perfectly happy with accumulating an infinite stream of these worthless things and never want real world goods in return for them.  And no, you don't have to ship gold or silver to them to pay is because activities like this are handled by import/exporters that bring the goods your country doesn't produce to you already.  

You only have to transport metals between banks in your own country, and they're perfectly capable of doing that.

[BlindMayorBitcorn]

Edit: Anyone has any cracked fork coins they want to unload: https://bitcointalk.org/index.php?topic=2059611.0;topicseen

[Mrpumperitis]

bcc is like herpes for btc lol
https://www.youtube.com/watch?v=UIEvaqJ6DWs
Bruce Wanker on the Ethereum Hard Fork

[notme]

Merged mining implies you are deferring to the other chain as a source of truth/security.

... yeah, all you've done here is make clear that you don't understand merged-mining without furthering the debate in the slightest.

Then explain it to me, because your response adds nothing either.  

I'm sorry you're in such a foul mood today.

[Dafar]

So....  BTC is still at $2700... and BCC at $430?  Did I just make $40K of free money?  Thanks Roger Ver/Jihan Wu/ViaBTC

[Thanh Phung]

BCC is free money as of now..

[bones261]

BCC is free money as of now..

Not to the people actually buying the shit. 

[BlindMayorBitcorn]

BCC is free money as of now..

Not to the people actually buying the shit. 

Or for the people trying in vain to sell the shit.

[r0ach]

or the hashpower wars will drag on until the bitcoin landscape becomes derelict and eventually a failed experiment.

It already is a failed experiment.  Decentralization isn't based on the ability to run a node like all the kooks in bitcoin claim, it's the ability to be able to mine coins yourself instead of being forced to buy them from a 3rd party. Being a failed experiment allowed it to become so centralized that it created a large profit motive for the people it centralized around to pump it higher for personal gain.  In this case, price going up has nothing to do with success.  Just like how the majority of coins that rise to the top of coin market cap page do so from being centralized pump and dumps.

[Dafar]

Lol r0ach mad he didn't make no free money BCC 

[BlindMayorBitcorn]

Lol r0ach mad he didn't make no free money BCC 

R0ach is still mad the Nazi's didn't win the Superbowl.

[r0ach]

Lol r0ach mad he didn't make no free money BCC 

[notme]

Kraken's web interface is alive again... now that there are more than just bots trading the action is picking up in the bch markets.

[r0ach]

It will be interesting if the chinamen pull their hashpower from BTC and go to BCH, then Luke Jr will be forced to fork bitcoin to unstick the 4 hour blocks before the chain dies.  Then we'll have forks crawling out of our ears and all kinds of arguments over what the real bitcoin is.

[ivomm]

I feel sorry for those dumpsters on dumpfinex that sold below 2700$ just before the split and didn't get the BCH 

[becoin]

A network is only as useful, and hence valuable, as the number of people who can use it. The transaction rate is the limit on that. More volume means more people means more money means higher price.

the higher fees induced by the 1mb limitation restrain the number of potential users. If someone can't have way more than the minimum fees while would he join the network?

Lets remove the fees and blocksize limits! Lets have free money for everyone! The number of potential users will be equal to Earth population.

Why are bigblocktards so dumb?

[becoin]

Any exchange supplying their customers with BCC/BCH deposit addresses?

[BlindMayorBitcorn]

Any exchange supplying their customers with BCC/BCH deposit addresses?

ViaBTC. Did you split yours already?

[p3ppymon]

BCC is free money as of now..

Exactly. Food from heaven at current rate!