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

[JayJuanGee]

Pfrtlpfmpf does not have anywhere near 80BTC on Poloniex that he was lending at 5%, because it is very likely that he was lending more than 1 day to earn 4BTC.

Possibility acknowledged. I may have misunderstood pfrtlpfmpf's statement.

YEP!!!!!

Exactamente!!!!

By the way the interest rates have dropped like a stone, and no one seems to want to borrow BTC anymore.   

[bitserve]

Pfrtlpfmpf does not have anywhere near 80BTC on Poloniex that he was lending at 5%, because it is very likely that he was lending more than 1 day to earn 4BTC.

Possibility acknowledged. I may have misunderstood pfrtlpfmpf's statement.

YEP!!!!!

Exactamente!!!!

By the way the interest rates have dropped like a stone, and no one seems to want to borrow BTC anymore.   

The small amount of BTC I have on Poloniex is still being lended at 2%, five days now and counting. The lend is for 60 days.

[traincarswreck]

Half the inflation rate would be viewed as better:



Picture is from around the time when he came up with the concept he called "ideal money"

[JayJuanGee]

Good morning after, Bitcoinland.

I see we're still going sideways... currently $2725USD (Bitcoinaverage). Not bad, considering the fact that we all just got gifted an equal number of altcoin (BCH) tokens.

While some people may have felt secure in exposing their private keys/seeds to the internet to sell their BCash in the original rush, I'm happy to keep both my bitcoins and BCH tokens safe in my cold wallets, for now.

I don't think the drama is done quite yet. Let's at least wait until segwit is fully activated.

I have bitcoin in paper wallets, if I want to set up new paper wallets is there a better way to move them than...

Paper wallet-----blockchain.info----paper wallet

Trezor or other hardware wallet?
_______

I also agree we need a new poll.

Exactly what I'm doing.

It looks like I'm not going to win the ATH priza today annoyingly, on the plus side though, BCH has made me a hell of a lot better off. 

Waiting too long can cause a considerable lessening of the BCH value, no? 

Currently we are able to get between .12 and .25 BTC for these, but I think that their longer term value is likely to float below .05BTC? 

But, maybe we will have some surprises and pumps that last a few months, rather than BCH dying on the branch?

[traincarswreck]

Bcash cost of production (difficulty) is now being slashed by 20% per block for the next 6 blocks. Expect miners to follow cost of production slavishly. Forking guys have no idea what they have unleashed ... it will become apparent soon now.

I understand now.  We can view the game as one player has ~51% need to attack.  They are being economically rational.  How does the game work when one player has ~51%(some uncertainty)?

[traincarswreck]

I need someone to find my a big blocker that understands economics to any significant degree?!

[Elwar]

Waiting too long can cause a considerable lessening of the BCH value, no? 

Currently we are able to get between .12 and .25 BTC for these, but I think that their longer term value is likely to float below .05BTC? 

But, maybe we will have some surprises and pumps that last a few months, rather than BCH dying on the branch?

The only place you can actually deposit your BCH the rate is .07 and falling.

[r0ach]

Forking guys have no idea what they have unleashed ... it will become apparent soon now.

[JayJuanGee]

Large blocks = Gold
Segregated Witness = Fiat

Asia wants gold.
USA wants to print money.

changing bitcoins block size via politicalbattle destroys its gold like property.

So you're admitting segwit destroys bitcoins gold-like properties.

When 100% of hashpower and most actors and participants have agreed that Bitcoin have to have Segwit, then that's Bitcoin and if it doesn't have Segwit, it isn't Bitcoin. If, tomorrow, almost everybody agrees to have bigger blocks, then that will be Bitcoin and smaller blocks won't.

How is that so hard to understand?

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

Then they are obviously not very core to the whole bitcoin ecosystem.

Are you retarded Ibian?  You think that merely because 51% of mining power supports something then bitcoin should just change because of that?  Maybe you should think about how unstable such a rule would cause bitcoin to become?

[traincarswreck]

Are you retarded Ibian?  You think that merely because 51% of mining power supports something then bitcoin should just change because of that?  Maybe you should think about how unstable such a rule would cause bitcoin to become?

I'm pretty sure thats the deal bro. We all signed up to it.

[r0ach]

Are you retarded Ibian?  You think that merely because 51% of mining power supports something then bitcoin should just change because of that?  Maybe you should think about how unstable such a rule would cause bitcoin to become?

I'm pretty sure thats the deal bro. We all signed up to it.

I like how people claim bitcoin isn't a failed experiment then claim if miners use their hash power to cause some type of change that it's invalid even though that's the way bitcoin is designed LOL.

[traincarswreck]

You could have like 45% of the hashing power but own 50% of the exchange narrative and so you might think thats enough...

[JayJuanGee]

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.

That's not correct!


Ver and Wu are not really willing to buy BCH. Only the nutjob peeps on r/btc they convinced of the death of BTC are willing to buy BCH

[In the silence]

The value of bitcoin are still stable at $2700, this was not what i was expecting after the fork. Its supposed to be roller coasters and new ATH.

[JayJuanGee]

Can we get a new poll for the thread? 

What kind of poll do you want?
I'm tempted to make a poll regarding BCC price, but this isn't supposed to be an altcoin thread.

I agree, all that is interesting about BCC is what it means for the price of BTC.

If you do want to make a poll related to BCC, maybe you could ask something pertaining to that, so e.g. whether people think this fork will a) show that the governance model of BTC is working as it should or b) shows the inherent weakness of the governance model of BTC etc. Just thinking out loud here.

Thanks again infofront for maintaining this thread, it's running very well! We can discuss developments that both in the short term and the long term influence the market value of BTC. Walls may not be the most important things in that respect anymore.

Well surely August 1 has passed, so that poll is outdated.

Dates coming up are August 8-10 locking in of segwit, and then two weeks later activation of segwit, so are either of those two events going to affect price, or is the BCH mess or the Altcoin mess going to affect BTC prices? 

I think that there is some questions regarding whether BCH is going to get dumped upon - which would likely be more bullish for bitcoin, as compared to if BCH is successful, which would be a bit more bearish for bitcoin.

I think that the activation of segwit is important and it does coincide with the difficulty adjustment for BCH and whether BTC will pump by then or whether BCH would be dead by then..

Approximately August 22/23 is critical?

[r0ach]

the developments that come AFTER segwait are more important then segwit itself.

Let the developments commence!

[Elwar]

The value of bitcoin are still stable at $2700, this was not what i was expecting after the fork. Its supposed to be roller coasters and new ATH.

i guess the roller coaster bit has been postponed untill after the new ATH.

August 19.

[sgk]

The value of bitcoin are still stable at $2700, this was not what i was expecting after the fork. Its supposed to be roller coasters and new ATH.

i guess the roller coaster bit has been postponed untill after the new ATH.

August 19.

Looking forward to it. This is the time when SegWit activates.

[traincarswreck]

the developments that come AFTER segwait are more important then segwit itself.

Let the developments commence!

I can clear up your misunderstanding and help you align your actions with reality.

[traincarswreck]

I think roger ver might have stole the gox coins with karples and laundered them through btc-e and the btc-guy is negotiating to not be extradited to the US.  Ver has a deal for newly minted chinese miner coins and the chinese miners made a game theory calculation error.  Also Nash redefined einsteins work: http://www.nydailynews.com/news/national/john-nash-tweaked-theory-relativity-death-article-1.2241346