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

[YamashitaRen]

I never had any "free" BCH  .

Now why did I want to trade on this market ? Because I like it being a fast-moving market. I'm pissed of having to wait minutes/hours for bitcoin P/L to get higher than the trading fees...

[cAPSLOCK]

https://www.cyberscoop.com/wannacry-monero-bitcoin/
shapeshift blacklist some shitcoins

When you say "blacklist some shitcoins" do you mean BTC?  Because it's BTC addresses being blacklisted here...

"As of today, we have taken measures to blacklist all addresses associated with the WannaCry attackers that are known to the ShapeShift team, as is our policy for any transactions we deem breach our terms of service. We are closely watching the situation as it continues to unfold as to block any further addresses associated.”

[El duderino_]

Bet CLOSED! Let the game begins...
Thank you all for supporting this game and I wish you all good luck. Let's make contact when ATH touched.
Final list:
20/07 Siggy
21/07 Mr Frog
22/07 Protokol
23/07 Bitcoinaire
24/07 Lost_in_base
25/07 rjclarke2000
26/07 Globbo
27/07 Poolminor
28/07 TeeBone
29/07 Ted E. Bear
30/07 bahty
31/07 Infofront
01/08 Vin
02/08 Steelboy
03/08 D_eddie
04/08 Bitserve
05/08 Bikerleszno
06/08 Last of the v8s
07/08 Pajulapoiss
08/08 Imbatman
09/08 Mikenz
10/08 Machasm
11/08 Aesma
12/08 doc12
13/08 Fluidjax
14/08 ShroomsKit_Disgrace
15/08 Fragout ---- slow death
16/08 Orpington
17/08 sirazimuth
18/08 Ivomm
19/08 Elwar
20/08 Oblox
21/08 Haciendo
22/08 Boba
23/08 ErisDiscordia
24/08 Ludwig Von
25/08 Hazukison
26/08 SportbetMaster
27/08 Nanobtc
28/08 Vamos1
29/08 Paashaas
30/08 RayX12
31/08 BinaryReign
02/09 Patrisorvieto
05/09 Entons
06/09 Oinas
09/09 Edgar
11/09 Buwaytress
15/09 MinermanNC
17/09 Spaceman_spiff
21/09 undeadbitcoiner
01/10 K.Ehleyr
02/10 Petemoss2
04/10 Herman Hesse
13/10 Cryptoqueen
05/11 Chainsaw
21/11 Icygreen
12/12 Kurious
23/12 Fractaluniverse
14/01/2018 In the silence
05/02/2018 savetherainforest

Who's going to be lucky mooooooon!!!

Jejeey! My chances are looking pretty good at the moment, cmoon... Few more days
 

What was the prize, 0.25 btc?

Yes .25btc and another .25btc if there was an technical word about why you think the price going ATH @ this date

[d_eddie]

...
31/07 Infofront
01/08 Vin
02/08 Steelboy
03/08 D_eddie
04/08 Bitserve
05/08 Bikerleszno
06/08 Last of the v8s
...

Who's going to be lucky mooooooon!!!

Ouch! Too early. I knew it.
It seems we're having a slow liftoff.
I think the lucky guy will have an initial B in his name

[Skol600ml]

The new pool, choosing +2000 covers almost all options

[Elwar]

How to lose 200$ :
1) Buy BCH on high-volatility Bitfinex with a "325$" Market Order. BCH are bought at 331.

That was your first mistake.

[bones261]

What should I do with my 2K sats of BCH on Bitfinex? I haven't bothered confirming, but that is not enough to meet the order minimum, correct? I guess that I'll have to keep them. So I am now an official BCH HODLer who will get left holding the bag.

(I also have 500 BCH sats on Hashnest too, left over from my dump. Guess I'm a HODL no matter what.)

[Peter R]

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.

Yes, the existence BCC will destabilize BCT mining.  

Everyone knows that at equilibrium, if BCC has 1/10th the value of BTC, that the hash power mining BCC will be 1/10th that mining BTC.  

What is less obvious what happens when the system is not in equilibrium. Imagine that the market reprices BCC 100% higher and BTC 10% lower.  What is the expected distribution of hash power now assuming short-term profit-maximizing miners?  

The answer is "most of it will be mining BCC." Because the difficulty adjusts only very slowly (every 2016 blocks) BCC becomes twice as profitable to mine as BTC.  Hash-per-hash miners would earn double by mining BCC.  This continues until the difficulty reset comes when BCC would go "limit up" (4X), when most miners would leave BCC back for BTC.  BCC's difficulty would slowly ratchet back down due to its fast difficulty adjustment and the process would later repeat.  

What this suggest is that at times when BCC is more profitable to mine and the hash rate migrates to BCC, the average block time for BTC will increase significantly and BTC's already slow and expensive transactions will become much more so.  

[Considered]

What should I do with my 2K sats of BCH on Bitfinex? I haven't bothered confirming, but that is not enough to meet the order minimum, correct? I guess that I'll have to keep them. So I am now an official BCH HODLer who will get left holding the bag.

(I also have 500 BCH sats on Hashnest too, left over from my dump. Guess I'm a HODL no matter what.)

Dump that coin. Its is now slowly dying, whales are exiting the game. Not fun at all   HODL your bitcoin not the copycat altcoin.

[Ted E. Bare]

Let this BCH alt coin die already.

[Elwar]

What should I do with my 2K sats of BCH on Bitfinex? I haven't bothered confirming, but that is not enough to meet the order minimum, correct? I guess that I'll have to keep them. So I am now an official BCH HODLer who will get left holding the bag.

(I also have 500 BCH sats on Hashnest too, left over from my dump. Guess I'm a HODL no matter what.)

Same here. I have some dust on bitfinex and bittrex.

Maybe in 20 years when bitcoin is worth $100 million, bcash will be worth $10,000 and I can sell it for a coffee.

[Torque]

What this suggest is that at times when BCC is more profitable to mine and the hash rate migrates to BCC, the average block time for BTC will increase significantly and BTC's already slow and expensive transactions will become much more so.  

"Profitable to mine" means you have to have buyers. If you haven't noticed, everyone is trying to dump their BCC (BCH? whatever) at any price and trade for more BTC.

[Peter R]

What this suggest is that at times when BCC is more profitable to mine and the hash rate migrates to BCC, the average block time for BTC will increase significantly and BTC's already slow and expensive transactions will become much more so.  

"Profitable to mine" means you have to have buyers. If you haven't noticed, everyone is trying to dump their BCC (BCH? whatever) at any price and trade for more BTC.

Yes, if the price the BTC miners could dump for remains below the cost of production of Bitcoin Cash coins, they would not mine it.  Miners want to earn profit, not make a loss.  I think you may have misread what I wrote because that's what I'm saying.

[bones261]

What should I do with my 2K sats of BCH on Bitfinex? I haven't bothered confirming, but that is not enough to meet the order minimum, correct? I guess that I'll have to keep them. So I am now an official BCH HODLer who will get left holding the bag.

(I also have 500 BCH sats on Hashnest too, left over from my dump. Guess I'm a HODL no matter what.)

Same here. I have some dust on bitfinex and bittrex.

Maybe in 20 years when bitcoin is worth $100 million, bcash will be worth $10,000 and I can sell it for a coffee.

I'll probably no longer be around in 20 years. Those coffin nails are starting to catch up with me, and I just can't/won't quit. You think I should leave step by step instructions for my heirs, so they can retrieve my BCH dust? 

[Ibian]

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.

Yes, the existence BCC will destabilize BCT mining.  

Everyone knows that at equilibrium, if BCC has 1/10th the value of BTC, that the hash power mining BCC will be 1/10th that mining BTC.  

What is less obvious what happens when the system is not in equilibrium. Imagine that the market reprices BCC 100% higher and BTC 10% lower.  What is the expected distribution of hash power now assuming short-term profit-maximizing miners?  

The answer is "most of it will be mining BCC." Because the difficulty adjusts only very slowly (every 2016 blocks) BCC becomes twice as profitable to mine as BTC.  Hash-per-hash miners would earn double by mining BCC.  This continues until the difficulty reset comes when BCC would go "limit up" (4X), when most miners would leave BCC back for BTC.  BCC's difficulty would slowly ratchet back down due to its fast difficulty adjustment and the process would later repeat.  

What this suggest is that at times when BCC is more profitable to mine and the hash rate migrates to BCC, the average block time for BTC will increase significantly and BTC's already slow and expensive transactions will become much more so.  

Well. Fuck.

We really should just have raised the block size and been done with it.

[Pajulapoiss]

Jejeey! My chances are looking pretty good at the moment, cmoon... Few more days
 

What was the prize, 0.25 btc?

Yes .25btc and another .25btc if there was an technical word about why you think the price going ATH @ this date

Can I still add my technical word, or is to too late?

[marcus_of_augustus]

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.

Yes, the existence BCC will destabilize BCT mining.  

So you have been a part of knowingly destabilising bitcoin mining? Neither chain will be stable, the 'hard-fork now!' camp have just stupidly devalued any investment they had in bitcoin (BTC or BCH) ... unless of course you actually work for govvy agents or other actors aiming to do exactly that which you admit to.

Merged-mining is one way BCH can gracefully admit their gargantuan fuck-up and save face (seems they spend a lot of time doing that). You weren't around when we already tried these 'experiments', it's not a pretty outcome. Bitcoin will survive but the credibility of the idiot  loud-mouth crowd doesn't stand much chance (not that they had a lot). Enjoy your forking euphoria, your ultimate downfall has now been sealed.

[deepcolderwallet]

MSM always misleading Average Joe...

http://money.cnn.com/2017/08/01/technology/business/bitcoin-cash-new-currency/index.html?iid=EL

What it means for consumers and businesses
Anyone who owns bitcoin will also own the same number of Bitcoin Cash units. However, not all bitcoin exchanges (where people store their bitcoin) will accept Bitcoin Cash, and that could potentially hinder the widespread adoption of the new digital currency.

bitcoin exchanges (where people store their bitcoin)

bitcoin exchanges (where people store their bitcoin)

[marcus_of_augustus]

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.

Yes, the existence BCC will destabilize BCT mining.  

Everyone knows that at equilibrium, if BCC has 1/10th the value of BTC, that the hash power mining BCC will be 1/10th that mining BTC.  

What is less obvious what happens when the system is not in equilibrium. Imagine that the market reprices BCC 100% higher and BTC 10% lower.  What is the expected distribution of hash power now assuming short-term profit-maximizing miners?  

The answer is "most of it will be mining BCC." Because the difficulty adjusts only very slowly (every 2016 blocks) BCC becomes twice as profitable to mine as BTC.  Hash-per-hash miners would earn double by mining BCC.  This continues until the difficulty reset comes when BCC would go "limit up" (4X), when most miners would leave BCC back for BTC.  BCC's difficulty would slowly ratchet back down due to its fast difficulty adjustment and the process would later repeat.  

What this suggest is that at times when BCC is more profitable to mine and the hash rate migrates to BCC, the average block time for BTC will increase significantly and BTC's already slow and expensive transactions will become much more so.  

Well. Fuck.

We really should just have raised the block size and been done with it.

Oh look, another loud-mouthed idiot here to gloat upon exactly how they've fucked up their investment in bitcoin. Your egos must really be butt-hurt bad about that 'blocksize' debate huh? Who knew such idiots even existed?

[traincarswreck]

Let this BCH alt coin die already.

No.  It was already planned and known there would be a dump period.  The price will be volatile and with some downward pressure and the earlier seller sell off. Price can be propped up with orders and exchanges can claim different types of friction to halt the liquidity to keep the price showing bitcoin cash is relevant (ie not near 0).

once the dust settles or as it does, the mining is going to ramp up and the economics and game theory is going to change gears.  They will try to outpace the old chain.  

It's a near 51% attack, plus an equivalent attack using exchanges, plus an equivalent using whales that have enough of the market cornered.

So the coalition is making a conjecture they have enough power to overcome Satoshi's hidden conjecture that the system can't be usurped.

They have a gang of nefarious hackers that have been stealing coins and laundering them through nefarious exchanges that have deals with the new coin minters (ie the nefarious miners).

They have launched their campaign to over through the network and free millions up millions of stolen coins.

Meanwhile the candle is burning at both ends because arrests have already started and negotiations and prisoner's dilemmas have commenced.