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

[free-bit.co.in]

Are you ready for $5000 by the end of this week?

27/10 vroom

no, not ready yet

We have always been ready for this since the beginning and I would say this is only the start! We are about to make it there and beyond. The train is unstoppable guys. Such exciting times for all of us: I'm only wondering about when we are going to have the next ATH and when we are going to have the next ones.

Hear me, I want a flash crash to $3500, so I can buy more!  I wanted to buy more at that price, but well my exchange account was still waiting to receive my bank transfer.. 

[Karartma1]

We had time to buy a while ago, I think now it's too late. Now the only buying opportunities I see are LTC, ETH, XMR, and so on BUT ONLY to go back to bitcoin when the prices of those alts rises. At these prices Bitcoin is too much. Even though I must admit I am buying some decimals every month 

[fragout]

Can anyone simply explain why a GPU mined network wouldn't work or be supported? In the future I somehow see users validating the network by simply holding or using bitcoin on a lightweight client. Not that I'd like to fork off to try but something like how torrents work where users validate the content. GPU mining sounds like a step in that direction although I have no real technical understanding on the matter. I suppose that's what I'm asking for and I'd rather hear it here than on a fanboy page.   

Of course gpu mining would work for a time. What do you think Litecoin is? Its a btc fork which uses gpus. At least that was the plan until scrypt miners were born.
But lets say BTC switched to GPUs only tomorrow. The mining farms would just switch out their ASICs for GPUs and your back to square one.
The problem is POW and another solution will have to come at some point

[Elwar]

So I gave my nieces and nephews some bitcoins a few years ago and they have the addresses.

But it looks like they'll miss out on the Bcash giveaway. Should I chance withdrawing their Bcash and add the funds to their current address or not risk it?

[cAPSLOCK]

So I gave my nieces and nephews some bitcoins a few years ago and they have the addresses.

But it looks like they'll miss out on the Bcash giveaway. Should I chance withdrawing their Bcash and add the funds to their current address or not risk it?

You would need to be willing to move their BTC to new addresses to do it safely.  That is the only sticker.  Is doing that worth the amount of money you would gain?

[Icygreen]

Can anyone simply explain why a GPU mined network wouldn't work or be supported? In the future I somehow see users validating the network by simply holding or using bitcoin on a lightweight client. Not that I'd like to fork off to try but something like how torrents work where users validate the content. GPU mining sounds like a step in that direction although I have no real technical understanding on the matter. I suppose that's what I'm asking for and I'd rather hear it here than on a fanboy page.   

Of course gpu mining would work for a time. What do you think Litecoin is? Its a btc fork which uses gpus. At least that was the plan until scrypt miners were born.
But lets say BTC switched to GPUs only tomorrow. The mining farms would just switch out their ASICs for GPUs and your back to square one.
The problem is POW and another solution will have to come at some point

Is it not correct that ASIC is very power hungry where GPU is much less so? Also, it looks like ASIC miners are barely available at around 3K each and pretty much monopolized (centralized) and a massive risk for anyone wanting to get involved. Would GPU be much easier and cheaper to produce, run, acquire, etc? Maybe I'm missing the picture but would that not take care of the centralized version of mining we have today if everyone could simply use old GPU's or as just mentioned CPU's?  
Seems to me that in order for this to be truly unstoppable and decentralized, mining\network validating needs to be put in the average person's reach or better yet, somehow built in as a function of owning BTC.
Maybe things will change when the remaining 4.5 million coins have been mined.

[Lauda]

Bitstamp | Total bids: 64735282 USD. Total asks: 2559 BTC. Ratio: 25288.24340 USD/BTC. | Data vintage: 0.0542 seconds

A nice ATH in bids.

[Meuh6879]

Is it not correct that ASIC is very power hungry where GPU is much less so? Also, it looks like ASIC miners are barely available at around 3K each and pretty much monopolized (centralized) and a massive risk for anyone wanting to get involved. Would GPU be much easier and cheaper to produce, run, acquire, etc? Maybe I'm missing the picture but would that not take care of the centralized version of mining we have today if everyone could simply use old GPU's or as just mentioned CPU's?  

ASIC SHA256 product is centralized.
GPU are not.

It's a point.

ASIC = 12TH/s for 1200w
GPU = 0,00003 TH/s for ... 300w

It's an other point.



Security is like that.

[Icygreen]

New leg UP! 10$ away from breaking the previous right shoulder.  Looks like new ATH could be had this week!  

[JimboToronto]

Good morning Bitcoinland and happy Thanksgiving Day to all the Canadians here.

We Bitcoiners have a lot to be thankful for... currently $4663USD/$5853CAD (Bitcoinaverage).

Too bad about AltCash though. It continues its downward spiral to oblivion... currently $329USD/$412CAD (Coinmarketcap).

Do we see $4.7k today and $5k by the weekend?

Go Bitcoin go.

[Meuh6879]

Be afraid of the 4000 euros ... limit.  Incoming !!!

[Icygreen]

Is it not correct that ASIC is very power hungry where GPU is much less so? Also, it looks like ASIC miners are barely available at around 3K each and pretty much monopolized (centralized) and a massive risk for anyone wanting to get involved. Would GPU be much easier and cheaper to produce, run, acquire, etc? Maybe I'm missing the picture but would that not take care of the centralized version of mining we have today if everyone could simply use old GPU's or as just mentioned CPU's?  

ASIC SHA256 product is centralized.
GPU are not.

It's a point.

ASIC = 12TH/s for 1200w
GPU = 0,00003 TH/s for ... 300w

It's an other point.



Security is like that.

I see, thank you for that. Perhaps when we have enough users it will no longer matter how many TH/s are calculated if everyone ran a small fraction and its pooled. 

[Imbatman]

I'll be incredibly impressed if the guy that won MicGoosens guess the ATH contest wins the second contest!  Even if he doesn't, damn does he have a solid chance at it, the way things are going right now.

Kudos to you BikerLeszlo (sorry if I spelled that wrong)

[conspirosphere.tk]

ASIC SHA256 product is centralized.
GPU are not.

It's a point.

I would like the concept of BTC gold if it were not that some ASIC would be made for any algo if it's profitable enough.
Scrypt was supposed to be GPU only. And now there are X11 ASICs too.

edit: better to ignore "btc gold": https://investfeededge.com/sentiment-bitcoin-gold-fork-falls-apart-stunning-details-revealed/

[jbreher]

Hey you guys, lay off jbreher.  I disagree with him, but he is polite and well reasoned...if wrong.

This thread does not have to be a total echo chamber.

Besides, he's probably kinda sad right now.

No. He's not well-reasoned. He lied many times to fool the newbies:

...
Sometimes, I state facts, and sometimes, I render opinions. I try not to exaggerate, I don't make up facts, and I try to keep my conclusions rational. When challenged, I produce rationale for my statements. Sometimes, I even get things wrong, but I always try to be truthful.
...

Not always. Sometimes you list your own lies neatly for everybody to see:

...

https://bitcointalk.org/index.php?topic=1833166.msg18258671#msg18258671

stronger wording: https://bitcointalk.org/index.php?topic=178336.msg18257263#msg18257263

This one is precious - it is in direct response to you. Mar 12: https://bitcointalk.org/index.php?topic=1820846.msg18162340#msg18162340

Hey! Here's my post to dinofelis that I alluded to above: https://bitcointalk.org/index.php?topic=1820846.msg18155798#msg18155798

"non-mining nodes don't count for doodley-squat": https://bitcointalk.org/index.php?topic=1752746.msg17602571#msg17602571

https://bitcointalk.org/index.php?topic=1752746.msg17560211#msg17560211

Middle of 2016... https://bitcointalk.org/index.php?topic=178336.msg15751668#msg15751668

11+ months ago: https://bitcointalk.org/index.php?topic=1330553.msg14994560#msg14994560

"nodes have fuck-all to say about it" - more than a year ago: https://bitcointalk.org/index.php?topic=1393827.msg14308946#msg14308946

"independent nodes essentially fulfill zero marginal utility": https://bitcointalk.org/index.php?topic=1344522.msg13895379#msg13895379

This one is fun - gmax using his time-tested technique of abandoning a convo that is not going his way. Feb 2016: https://bitcointalk.org/index.php?topic=1352002.msg13788734#msg13788734

...

Those are not lies. That was posted in response to Lauda, who claimed something akin to 'jbreher never before made the claim that fully-validating, non-mining wallets add little to no value to the network as a system'. So that listing was refutation to Lauda's lies.

If you think that that fully-validating, non-mining wallets provide any benefit to the network as a whole, you do not understand Bitcoin. The only power such a wallet has is to amputate itself from the rest of the network.

Therefore evisceration intensifies.

WTF are you talking about? You say that I lie, and then you quote me clearly telling the truth? Who do you think you're fooling with that?

[Raja_MBZ]

Bitcoin's going great...

But what the hell is happening with altcoins? Can't we follow the old rule? When bitcoin goes up, alts go up too?

[jbreher]

Is it not correct that ASIC is very power hungry where GPU is much less so?

Exactly the opposite. The only reason an organization would incur the multi-millioin-dollar upfront sunk cost of fabbing an ASIC is because they have an operational advantage over FPGAs, GPUs, and CPUs. In the case of bitcoin mining, that operational advantage is hashes per Joule.

[Icygreen]

Thank you, this also helps.  I see the correlation between GPU, CPU and ASIC better now and understand that the GPU route leads to ASIC manufacturing for which will get monopolized and is already what we have.
A fully distributed and secure network sounds to me as easy as the concept of perpetual motion.

[CristiTCM]

Bitcoin's going great...

But what the hell is happening with altcoins? Can't we follow the old rule? When bitcoin goes up, alts go up too?

People converting altcoins to btc to get more bitcoin gold, i think.

[free-bit.co.in]

Bitcoin's going great...

But what the hell is happening with altcoins? Can't we follow the old rule? When bitcoin goes up, alts go up too?

People converting altcoins to btc to get more bitcoin gold, i think.

Ah, the same happend when Bitcoin cash fork was close..