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

[Last of the V8s]

https://coinmarketcap.com/currencies/bitcoin-cash/#markets

half a billion usd volume in Korean won in 24h...

@all the BTCgold lovers : can someone please explain why it is going to be free money? I see the magic word ICO on their forum

https://cointelegraph.com/news/suddenly-bitcoin-gpu-hard-fork-could-give-bitcoiners-more-free-money

seems they'll fork off the old chain in the same way as bcash did, on a particular block, so all btc holders become btcg holders in the same amount.

[Meuh6879]

But the price charts of BCH/BTC look to me like someone is controlling the price.

Hard to see ... 

[bitcoinPsycho]

But the price charts of BCH/BTC look to me like someone is controlling the price.

Hard to see ... 

Looks to me the same pattern as most alt coin pump and dumps . Slowly but sure decline with a bits of false hope on the way

[jbreher]

It would be a trivial matter in the future for the Chinese government to pressure Jihan and force modifications to the Bitcoin Cash code.  Thus Bitcoin Cash has no real independence from government and is not decentralized.

silly-ass assertion is silly-ass.

First, there is no such thing as 'Bitcoin Cash code'. Bitcoin Cash is a blockchain, not a code implementation.

Second, unlike Bitcoin Segwit -- where there is essentially one code implementation (core) that runs the blockchain, the Bitcoin Cash blockchain has multiple competing code implementations - ABC, Unlimited, Classic, ... . Any attempt to coerce the developers of one of these implementations will lead the community to adopt one of the other implementations instead. (Segwit chain? Not so resilient to this attack).

Thirdly, Jihan has (at least to my knowledge) no direct involvement in any of the code implementations for node/wallets that run the Bitcoin Cash chain. How is he going to make any changes that would be enforceable on the community? The very idea is absurd.

[jbreher]

seems they'll fork off the old chain in the same way as [Bitcoin Cash] did, on a particular block, so all btc holders become btcg holders in the same amount.

The website indicates that BitcoinGPU is to be forked from Bitcoin Genesis at the same block height that Bitcoin Cash forked (478558). I have not been able to find evidence of a single mined block.

[cmacwiz]

I see kwukduk has started a BCH related FUD thread, looks like we shall be moving up in the coming weeks!

[Last of the V8s]

seems they'll fork off the old chain in the same way as [Bitcoin Cash] did, on a particular block, so all btc holders become btcg holders in the same amount.

The website indicates that BitcoinGPU is to be forked from Bitcoin Genesis at the same block height that Bitcoin Cash forked (478558). I have not been able to find evidence of a single mined block.

oh yeah duh. still can't find it in me to care about all these alts.

edit: looks like their website copied a lot from yours lol

[becoin]

But the price charts of BCH/BTC look to me like someone is controlling the price.

If you control the altcoin you control the price. BCH is a private altcoin. It will hold this price vs bitcoin as far as current owner has enough bitcoins to support it.

[Lauda]

Bitstamp | Total bids: 56299221 USD. Total asks: 2853 BTC. Ratio: 19732.79138 USD/BTC. | Data vintage: 0.0167 seconds

Today marks the first day (at least based on my own observations) that we've had $56 million in bids on Bitstamp. I've been querying this several times through the days, and the asks were mostly the ones fluctuating.

I see kwukduk has started a BCH related FUD thread, looks like we shall be moving up in the coming weeks!

Standard, highly centralized, shitcoin. Nothing to see there.

[CoinCube]

Thirdly, Jihan has (at least to my knowledge) no direct involvement in any of the code implementations for node/wallets that run the Bitcoin Cash chain. How is he going to make any changes that would be enforceable on the community? The very idea is absurd.

The Future of “Bitcoin Cash:” An Interview with Bitcoin ABC lead developer Amaury Séchet
https://bitcoinmagazine.com/articles/future-bitcoin-cash-interview-bitcoin-abc-lead-developer-amaury-s%C3%A9chet/

Bitcoin Cash is the realization of the “User Activated Hard Fork” (UAHF) that was first announced as Bitmain’s contingency plan ...

A lot of people contacted us and wanted to launch Bitcoin Cash.

“Random” people? Or also companies, miners or perhaps well-known individuals in the space?"

All of the above. But I do not wish to mention anyone specifically. Some, like ViaBTC and OKCoin have gone public. If others want to do that too, they'll have to do it themselves.

Sorry I forgot it was just "random people" who contacted Amaury Séchet and got this thing started.

I am sure "random people" have no control over its development.

Interesting I understand "random people" also have a significant financial stake in ViaBTC which was the first exchange to publicly push BCH.

So much randomness

[Last of the V8s]

Everything is broken

[BlindMayorBitcorn]

Everything is broken

Cutters, saws, buckles, laws, bodies, bones, voices and phones. You name it, it's broken.

[Last of the V8s]

^this

This show is good: https://www.youtube.com/watch?v=JEyNh6SoVpw
BD #18: Stormy Times For Digital Currencies, Equifax Hacked and IOTA Vuln Report


sadly, these 2 men are now also broken

[Arriemoller]

satoshi's (who is dead by the way)

Evidence?

For all practical purposes, he is dead.

<<blather blather blather -ed>>

Retraction of indefensible assertion duly noted.

Apparently, you have made an executive decision that my actual response was not important, and you would rather just summarize my response as a supposed "retraction."... yeah.. right.   

So  "dead" and "For all practical purposes, he is dead." are synonyms to you?

[afbitcoins]

How do you get a bunch of drunk and rowdy canadians to leave your swimming pool?

Ask them to leave

[jbreher]

edit: looks like their website copied a lot from yours lol

Yeah... while I have no formal relation to Bitcoin ABC, it certainly appears that the BitcoinGPU website started as a pure scrape of the Bitcoin ABC site.

Still wondering whether or not BitcoinGPU is real beyond the fever dream of a single person. Not devoting a whole lot of thought to the matter though.

[jbreher]

Thirdly, Jihan has (at least to my knowledge) no direct involvement in any of the code implementations for node/wallets that run the Bitcoin Cash chain. How is he going to make any changes that would be enforceable on the community? The very idea is absurd.

The Future of “Bitcoin Cash:” An Interview with Bitcoin ABC lead developer Amaury Séchet
https://bitcoinmagazine.com/articles/future-bitcoin-cash-interview-bitcoin-abc-lead-developer-amaury-s%C3%A9chet/

Bitcoin Cash is the realization of the “User Activated Hard Fork” (UAHF) that was first announced as Bitmain’s contingency plan ...

A lot of people contacted us and wanted to launch Bitcoin Cash.

“Random” people? Or also companies, miners or perhaps well-known individuals in the space?"

All of the above. But I do not wish to mention anyone specifically. Some, like ViaBTC and OKCoin have gone public. If others want to do that too, they'll have to do it themselves.

Sorry I forgot it was just "random people" who contacted Amaury Séchet and got this thing started.

I am sure "random people" have no control over its development.

Interesting I understand "random people" also have a significant financial stake in ViaBTC which was the first exchange to publicly push BCH.

So much randomness

Your non-sequitur aside, again I ask -  How is [Jihan] going to make any changes that would be enforceable on the community?

[Last of the V8s]

How is [Jihan] going to make any changes that would be enforceable on the community?

it's simple. the miners decide. the users don't matter.

[jbreher]

How is [Jihan] going to make any changes that would be enforceable on the community?

it's simple. the miners decide. the users don't matter.

https://i.imgur.com/GSUXDxb.jpg

zing!

iseewhatyoudidthere.png

All joviality aside, the claim is somewhat more nuanced. To wit: non-mining, fully-validating nodes add no value to the network as a whole.

So I'm still looking for some explanation as to how Jihan might be able to enforce his nefarious goals upon the populace.

[CoinCube]

So I'm still looking for some explanation as to how Jihan might be able to enforce his nefarious goals upon the populace.

Simple you centralize control of the protocol via regular mandatory hardfork and back up those hardforks with overwhelming hashing power. You also start off slow with multiple non-controversial changes to acclimate the community to your control.

The lead developers of bitcoin cash calls even calls himself "benevolent dictator".

Amaury SECHET
Bitcoin ABC Benevolent Dictator
https://www.linkedin.com/in/deadalnix

Here is an article that discusses this further

Bitcoin Cash May Fall Victim to Centralized Control by Developers
https://themerkle.com/bitcoin-cash-may-fall-victim-to-centralized-control-by-developers/