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

[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

[Ibian]

We don't need shit. The split happened and nobody likes it but it is what it is. If they manage to outperform us with the current rules then FUCKING DEAL WITH IT. Sink or swim.

[becoin]

If they manage to outperform us

Ver and Wu to outperform Bitcoin?!... Are you nuts?

[Ibian]

If they manage to outperform us

Ver and Wu to outperform Bitcoin?!... Are you nuts?

Then where is the major crisis that prompts a we need...

[becoin]

If they manage to outperform us

Ver and Wu to outperform Bitcoin?!... Are you nuts?

Then where is the major crisis that prompts a we need...

What crisis? Ver and Wu decided to give some free money. They are most welcome. That is all. Next fork, please!

[JimboToronto]

Good morning Bitcoinland.

Down slightly but still basically sideways... currently $4308USD/$5377CAD (Bitcoinaverage).

AltcoinCash also down a smidgen... $626USD/$781CAD (Coinmarketcap).

Ho hum. Yawn.

[gentlemand]

wtf is going on with Monero?
 

It's about to be listed in Korea. They're the new king of degenerate pumps. Expect a fine fall once they've had their fun.

[Last of the V8s]

wtf is going on with Monero?
 

It's about to be listed in Korea. They're the new king of degenerate pumps. Expect a fine fall once they've had their fun.

Your insolence toward Comrade Kim has been #noted. Expect a fine. And no fun. Ever.

[Ludwig Von]

wtf is going on with Monero?
 

It's about to be listed in Korea. They're the new king of degenerate pumps. Expect a fine fall once they've had their fun.

Your insolence toward Comrade Kim has been #noted. Expect a fine. And no fun. Ever.

Kim has rocket tech! Not shouting to the moon, but shooting to the moon! (it most probably will miss)

[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.)

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!  

That's it!

*storms off, codes better bitcoin, adds blackjack and hookers*

[Last of the V8s]

missed this from last year https://medium.com/ill-ixi-lli/-da9326e97d1f
Bitcoin = Death Processors
What we call money is largely just cached murder. Bitcoin takes this lethal abstraction into direct competition with our own lives… by creating a makework network that sinks resources and electricity into pushing computers to their limits—for no actual purpose.

this guy may be particularly dotty, but i suppose it's a reminder that we'll get a lot of criticism in years to come from envirowhiners
(if we tune in to the masses' opinions at all as we sip our boat drinks on our superyachts surrounded by supermodels)


edit/add https://digiconomist.net/bitcoin-energy-consumption