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

[Karartma1]

Jihan's studies in Economics and Psychology @ Peking University should tell you he never makes a move without carefully planning it.
No surprise

[undeadbitcoiner]

We went ATH before being stopped again. I see a bit of sideways next if not another small correction down.
Golden rule still applies in these days: hold.

ATH for 2017 will be Sep 21st .

[savetherainforest]

@btcArtGallery

This is such gold. It will be a quote worthy of future history books on economics.

[bankpower]

Voted for 4000$+, I have a good feeling

[Torque]

Slightly different tone that previously.

https://bitcoinmagazine.com/articles/why-do-some-bitcoin-mining-pools-mine-empty-blocks-1468337739/

Is it bad?

"The whole point of the Bitcoin network is to process transactions. Therefore, empty blocks are often criticised as “bad behaviour” as creating very little value for the network by accelerating disinflation and stealing from “honest” miners.

However, it can also be considered as counter-balancing the centralisation tendency of the network: a pool which wins a block can start mining the next block immediately since they already know which transactions were included in the block. Whereas other miners first have to download the transactions, and then generate a new block which doesn’t include any of them. The ability to mine with just the header, could be considered to limit the benefits of centralisation.

Technically, it could be easily prevented by including, for example, a hash of the current coinbase concatenated with all the previous transactions in the block header. The recent fall in the number of empty blocks shows that the issue can be contained through improvements in the protocol which make mining empty blocks less interesting. Additionally, the gradual decrease of the block reward and the increased reliance on transaction fees will likely make mining empty blocks unprofitable over time."

[rjclarke2000]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

[Ibian]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

Heh. Minutes of work and some hours of waiting, and we are sitting here in our underwear complaining. And for the effort, depending on how many you have, a small fortune for some people. We really are the new wealthy elite, it would seem.

[Torque]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

Good job. I'm waiting for 0.2 again, but don't know if it'll ever come. Maybe in November.

[gentlemand]

I'm surprised how rapidly trading has gone flat for it, and the price it's maintaining. I presume it's mainly going to straight to whales now for their next pump. I got rid of one at 0.23. The rest can wait for a higher price.

[bones261]

I'm out of bch now. I know it's not the best time as btc has gone up a little and bch has dropped a bit but I am more than happy increasing my btc stash by that much. It's pretty incredible really.

 changing paper wallets, electron cash, Kraken, copy and pasting priv keys etc, confirmation emails .......blah blah

A hassle but WELL worth it.

Good job. I'm waiting for 0.2 again, but don't know if it'll ever come. Maybe in November.

By that time their Emergency Difficulty adjustments might adjust the difficulty so low, that their chain will become a mire of reorgs and orphans. This definitely would be quite bearish for BCH if this happens. It hasn't happened, yet. We'll see.

[DonQuijote]

Poll is clear this time:

Question:   On Aug. 31 BTC Will Be:
$3,500+   - 90 (26%)
$3,250+   - 25 (7.2%)
$3,000+   - 38 (11%)
$2,750+   - 13 (3.8%)
$2,500+   - 7 (2%)
$2,250+   - 4 (1.2%)
$2,000+   - 3 (0.9%)
Under $2,000   - 15 (4.3%)
At Parity with BCH   - 13 (3.8%)
$4,000+   - 68 (19.7%)
$5,000+   - 70 (20.2%)
Total Voters: 346

[BlindMayorBitcorn]

rekt?

 Slightly different tone that previously.

We need a proof of work change. How low do you think that will drop us?

[d_eddie]

We need a proof of work change. How low do you think that will drop us?

Something less drastic could also work. Something that wouldn't fck up the "good guys" as much. I'm thinking along the lines of a coinbase penalty depending on mempool size - or something proportional to the average fee of transactions left in the mempool. The main problem I see with such a fix is that it would require a fork. Would a soft fork do? I doubt it, mainly because of the problems with non-upgraded clients.

[BlindMayorBitcorn]

We need a proof of work change. How low do you think that will drop us?

Something less drastic could also work. Something that wouldn't fck up the "good guys" as much. I'm thinking along the lines of a coinbase penalty depending on mempool size - or something proportional to the average fee of transactions left in the mempool. The main problem I see with such a fix is that it would require a fork. Would a soft fork do? I doubt it, mainly because of the problems with non-upgraded clients.

Won't we have to hard fork for replay protection anyway? (Total noob question.)

[notme]

We need a proof of work change. How low do you think that will drop us?

Something less drastic could also work. Something that wouldn't fck up the "good guys" as much. I'm thinking along the lines of a coinbase penalty depending on mempool size - or something proportional to the average fee of transactions left in the mempool. The main problem I see with such a fix is that it would require a fork. Would a soft fork do? I doubt it, mainly because of the problems with non-upgraded clients.

Won't we have to hard fork for replay protection anyway? (Total noob question.)

Such a coinbase penalty would be messing with the inflation schedule.  Also, the mempool is not consistent across nodes.  A freshly broadcast transaction may not be visible to everyone.  So, we would need mempool commitments.  Something like a blockchain could work for that .

[GreekGeek]

wtf is going on with Monero?
 

[xhomerx10]

rekt?

 Slightly different tone that previously.

We need a proof of work change. How low do you think that will drop us?

 I think some Bitcoin proponents have entered the 3rd phase of obsession:

3. Aggressive Stage: This stage typically starts when either previously “successful” attempts at controlling you have failed; or you end the relationship. At this point, the perpetrator ups the ante. They may threaten suicide if you don’t acquiesce to their demands. They may disrupt your life by calling your home, boss, or friends. They may suddenly show up uninvited. They may alternate between pleas to reunite and vows of vengeance. For some desperate or disturbed individuals, the behavior can escalate to stalking, threats, or physical violence.

exerpt from: If I can't have you, no one can.
Psychology Today © 1991-2017 Sussex Publishers, LLC

[Torque]

We need a proof of work change. How low do you think that will drop us?

Something less drastic could also work. Something that wouldn't fck up the "good guys" as much. I'm thinking along the lines of a coinbase penalty depending on mempool size - or something proportional to the average fee of transactions left in the mempool. The main problem I see with such a fix is that it would require a fork. Would a soft fork do? I doubt it, mainly because of the problems with non-upgraded clients.

Won't we have to hard fork for replay protection anyway? (Total noob question.)

Such a coinbase penalty would be messing with the inflation schedule.  Also, the mempool is not consistent across nodes.  A freshly broadcast transaction may not be visible to everyone.  So, we would need mempool commitments.  Something like a blockchain could work for that .

You guys really crack me up with these "we need to do this or that" pontifications. As if anyone here is even remotely involved in the development of Bitcoin.

But by all means, go forth and make it happen!  

[becoin]

I think some Bitcoin proponents have entered the 3rd phase of obsession:

After 9 years of obsession all Bitcoin proponents are doing quite well while altcoin proponents are living under exceptional stress do to some miscalculations.

[Last of the V8s]

You guys really crack me up with these "we need to do this or that" pontifications. As if anyone here is even remotely involved in the development of Bitcoin.

But by all means, go forth and make it happen!  

how.dare.you. we are vital to the entire ecosystem, i tell you. vital