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

[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.  

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.

Big blockers blame small blockers for the fork; small blockers blame big blockers.  I think a split was inevitable given the two distinct visions for Bitcoin's future.

Regarding destabilizing mining, I think what this means is that in the medium term, only one chain will survive (at least with any real value).  The miners will eventually see their incentive to kill off one of the chains. 

The question is which one. 

[Elwar]

In case not news already...Coinbase to support BCC (or wtf the ticker is now)
shit just got interesting...

Coinbase was holding a ton of peoples' bitcoins during the fork. Coinbase now has a whole lot of bcash to sell.

Ipso facto...Coinbase is cashing out their BCH.

[traincarswreck]

Big blockers blame small blockers for the fork; small blockers blame big blockers.  I think a split was inevitable given the two distinct visions for Bitcoin's future.

Regarding destabilizing mining, I think what this means is that in the medium term, only one chain will survive (at least with any real value).  The miners will eventually see their incentive to kill off one of the chains. 

The question is which one. 

The community doesn't realize yet it has been besieged.

[marcus_of_augustus]

Hi. We are here to talk to you about Satoshi's vision, do you have a few moments?

Oh look, Peter_R and Paul (Ibian) have shown up to preach the 'hard-fork now!" Satoshi's vision gospel.

[traincarswreck]

Oh look, Peter_R and Paul (Ibian) have shown up to preach the 'hard-fork now!" Satoshi's vision gospel.

No they are welcomed.  We need the dialogue.  We opened pandora's box.

[Skol600ml]

It's amazing how people don't know about the "buyers". They just think the coin is destroyed when they trade

[marcus_of_augustus]

I think a split was inevitable given the two distinct visions for Bitcoin's future.

Well, one side is having 'visions' ... 'satoshi's visions', 'visions of gradeur', visions of centralised political governance ... lots of 'visions'.

... the other side is sticking to the technical facts and realm of computer science knowledge.

[bones261]

Hi. We are here to talk to you about Satoshi's vision, do you have a few moments?

Oh look, Peter_R and Paul (Ibian) have shown up to preach the 'hard-fork now!" Satoshi's vision gospel.

Bitcoin Jesus is on their side!   Now when will the supporters get their temple garments? Will they all get their own planets to be gods over, too?

[traincarswreck]

So the trading volume and statistics will be watched for the timing when the vast majority of early sellers are finished so the next move will be calculated literally and coordinated.

[Torque]

Even if someone was in favor of block size gradually increasing over time (which everyone can agree on), jumping straight to 8MB is just stupid.

Also whereforeartthou, mempool backlog? Oh that's right, it only happens when someone is specifically and nefariously spamming the network.  

[traincarswreck]

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.  

Also whereforeartthou, mempool backlog? Oh that's right, it only happens when someone is specifically and nefariously spamming the network.  

Get ready for the spamminator. 

[Ibian]

block size gradually increasing over time (which everyone can agree on),

No. A lot of people really do not want the network to grow. Some people just want to drag others down, even at personal expense.

Also whereforeartthou, mempool backlog? Oh that's right, it only happens when someone is specifically and nefariously spamming the network.

Fuck you. You don't get to decide who can send what. That's one of the key selling points, no middlemen.

[Torque]

Also whereforeartthou, mempool backlog? Oh that's right, it only happens when someone is specifically and nefariously spamming the network.

Fuck you. You don't get to decide who can send what. That's one of the key selling points, no middlemen.

Oh shut up about that already. No one is suggesting that spam should be somehow curtailed or censored.

But you are a blind idiot if you think the spikes in incessant spam for prolonged duration, that then magically vanishes completely from the network, is just totally normal transactions and not coming directly from the Ver/Wu consortium to stir up bullshit. You will never convince anyone with half a brain otherwise.

And if you think the purpose of having bigger blocks is to better accommodate said spam, then well.... back to /ignore you go.

But hey, you guys have your own big blocker chain now: Bcash. 8MB, whoo hoo, yeah baby! And no pesky SegWit! It's gonna solve everything! So why complain here anymore?

[traincarswreck]

Coinbase is fucking hilarious.

[pfrtlpfmpf]

Guys, i´m completely lost, i sit the whole day in front of my laptop, and click on lending at polo. my spouse tells me to go fck myself. Is there a selfhelp group somewhere ?

[Elwar]

Guys, i´m completely lost, i sit the whole day in front of my laptop, and click on lending at polo. my spouse tells me to go fck myself. Is there a selfhelp group somewhere ?

Yes. You can write an app to automate those clicks.

[pfrtlpfmpf]

Guys, i´m completely lost, i sit the whole day in front of my laptop, and click on lending at polo. my spouse tells me to go fck myself. Is there a selfhelp group somewhere ?

Yes. You can write an app to automate those clicks.

There´s a lending bot out there, but i don´t trust him 

[jojo69]

take a pornhub break once in a while

[pfrtlpfmpf]

take a pornhub break once in a while

There, i completely forgot about my sex-life, maybe my girlfriend is sour therefore . . .

[xhomerx10]

Guys, i´m completely lost, i sit the whole day in front of my laptop, and click on lending at polo. my spouse tells me to go fck myself. Is there a selfhelp group somewhere ?

 self-help for self-fck or the polo clicking thing?