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

[Wexlike]

Sold them all ! I am getting fucking drunk now !

THANK YOU ROGER VER!!!!!!!!!!!!

[d_eddie]

When I say 50/50, I mean value wise. So I actually meant "half of the BTCs have been traded for BCH".
At the moment, the number of extant BTC=BCH.

So, you are not aware that in any BTC/BCH trade, the number of both BTC and BCH stays exactly the same?

So, there is no such a thing as "half of the BTCs are traded for BCH". 

You are right. I expressed my thought sloppily.
"Half of the BTC value at the time of the split has been traded..."
Ultimately implying that the mere existence of a new chain does not mean there is actual value stored in it.

[bitserve]

Sold them all ! I am getting fucking drunk now !

THANK YOU ROGER VER!!!!!!!!!!!!

Lucky you. Most of my BCH is still sitting on my ledger and at this rate it will take me long time to trade them all. I don't feel confident enough to send it all to HitBTC before doing partial withdraws, plus they are requiring 5 confirmations now. Well, you can't always get it right.

[mestar]

Sounds like you are saying that users (other than the miners) have any say in what blocks get accepted, and what blocks get rejected.

Nodes do. Financially heavy nodes, more so.

Your node (financially heavy? Say what?) can reject blocks and transactions however it wants, and this will have zero effect on what blocks miners create. 

[bitserve]

Oh! HitBTC has now lowered the requirement to 2 confirmations. So my BCH is already available.... but it is priced half than the last I sold

[Wexlike]

HitBit accepted my shitcoins after only 1 confirmation ! And withdrawal was limitless, got my Btcs just a minute after withdrawal. Best exchange experience ever.

[d_eddie]

Sounds like you are saying that users (other than the miners) have any say in what blocks get accepted, and what blocks get rejected.

Nodes do. Financially heavy nodes, more so.

Your node (financially heavy? Say what?) can reject blocks and transactions however it wants, and this will have zero effect on what blocks miners create. 

Exchanges, on the other hand...

[bitserve]

HitBit accepted my shitcoins after only 1 confirmation ! And withdrawal was limitless, got my Btcs just a minute after withdrawal. Best exchange experience ever.

What price did you sell? I donno if I should wait for the next pump.... It is half than this morning.

[williamuk]

If 100% of hashpower want bigger blocks, do you think the devs will fold for economic reasons like how the miners folded for segwit?

They'd have to eliminate all blockstream influence in any shape or form, distance themselves from the most virulent members of their group and then admit bitcoin was never theirs to begin with.

Tall order

I guess I'll just grab some popcorn, sit back and enjoy the show.  

At $40bn it's become serious, some people's savings are at stake :|

[julian071]

HitBit accepted my shitcoins after only 1 confirmation ! And withdrawal was limitless, got my Btcs just a minute after withdrawal. Best exchange experience ever.

Congrats dude. Still trying to get my profits out of ViaBTC =/

[Wexlike]

HitBit accepted my shitcoins after only 1 confirmation ! And withdrawal was limitless, got my Btcs just a minute after withdrawal. Best exchange experience ever.

What price did you sell? I donno if I should wait for the next pump.... It is half than this morning.

0.15/BTC. This coin is DoA, never expected more than 5% and now I got 15% ! On the other exchanges it's just trader pumping and dumping air to each other. Wait till the flood gates are open and see the price crash. The blockchain is practically frozen. Nevertheless, crazy last 48h hours. I need drinks and/or sleep.

[bitserve]

HitBit accepted my shitcoins after only 1 confirmation ! And withdrawal was limitless, got my Btcs just a minute after withdrawal. Best exchange experience ever.

What price did you sell? I donno if I should wait for the next pump.... It is half than this morning.

0.15/BTC. This coin is DoA, never expected more than 5% and now I got 15% ! On the other exchanges it's just trader pumping and dumping air to each other. Wait till the flood gates are open and see the price crash. The blockchain is practically frozen. Nevertheless, crazy last 48h hours. I need drinks and/or sleep.

Until now I have only sold at Kraken for 175€ each and at HitBTC for a whooping 0.28BTC each!

I never expected much out of it.... but I will try to get the max I can... for more BTC!

Anyway, congrats, relax and celebrate!

[mestar]

You are right. I expressed my thought sloppily.
"Half of the BTC value at the time of the split has been traded..."
Ultimately implying that the mere existence of a new chain does not mean there is actual value stored in it.

Lets say that 10 million BCH have been traded in the next week, and price ends up at $5.   At this point the selling pressure will stop, and it could be a good moment to buy.  After all, all those 10 million did find somebody interested in buying them.

As for actual value,  there is no other value other than somebody willing to buy them from you, and this is true for both BTC and BCH.

[d_eddie]

You are right. I expressed my thought sloppily.
"Half of the BTC value at the time of the split has been traded..."
Ultimately implying that the mere existence of a new chain does not mean there is actual value stored in it.

Lets say that 10 million BCH have been traded in the next week, and price ends up at $5.   At this point the selling pressure will stop, and it could be a good moment to buy.  After all, all those 10 million did find somebody interested in buying them.

As for actual value,  there is no other value other than somebody willing to buy them from you, and this is true for both BTC and BCH.

Exactly. Well said. By a 50/50 split, I meant the BCH price = BTC price (fiat-wise), or BTC:BCH=1:1.

[julian071]

HitBit accepted my shitcoins after only 1 confirmation ! And withdrawal was limitless, got my Btcs just a minute after withdrawal. Best exchange experience ever.

What price did you sell? I donno if I should wait for the next pump.... It is half than this morning.

0.15/BTC. This coin is DoA, never expected more than 5% and now I got 15% ! On the other exchanges it's just trader pumping and dumping air to each other. Wait till the flood gates are open and see the price crash. The blockchain is practically frozen. Nevertheless, crazy last 48h hours. I need drinks and/or sleep.

Could not have said it better. Also sold @ 0.15.

Mining Bitcoin Crash has resumed btw, so hopefully I can get my profits out.

[becoin]

As for actual value,  there is no other value other than somebody willing to buy them from you, and this is true for both BTC and BCH.

There is big difference! Everybody is willing to buy BTC. Only Ver and Wu are willing to buy BCH. Hope that clears your confusion.

[mestar]

That's a good explanation. But what happens if 51% of hashpower want bigger blocks but Core Developers refuse?

Then 51% can go to war and hope to get lucky to create the longest chain, and this is one of the basic Bitcoin facts, longest chain wins.

This is almost exactly what is going on right now, but with 10% of hashrate instead of 51%.

[FractalUniverse]

omg almost 20 new pages since i left. Did this thread become BTH observer thread?

[d_eddie]

As for actual value,  there is no other value other than somebody willing to buy them from you, and this is true for both BTC and BCH.

There is big difference! Everybody is willing to buy BTC. Only Ver and Wu are willing to buy BCH. Hope that clears your confusion.

It is also not a 0/1 matter of "will buy/won't buy". Price does matter.

I am not a BCH believer, but I would buy say, 1000 BCH for 0.01 BTC, just for the heck of it and the remote possibility of profiting off some future pump that might or might not happen. I wouldn't, on the other hand, buy BCH at the fake prices suggested by the exchanges that actually (say they) deal with BCH. I could sell some though, if it was actually possible (or easy).

[Ibian]

omg almost 20 new pages since i left. Did this thread become BTH observer thread?

Yes. Long may it prosper.