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

[kurious]

https://www.youtube.com/watch?v=QrLr7MdyyLg

really a good interview !

(image)

Agree wholeheartedly, although subtitles are annoying and occasionally wrong and often annoying.

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[Torque]

Bitcoin is trying to compete with assets like Gold. You can't "fork" Gold or redefine what Gold is and that has value. Bitcoin's resistance to re-definition, likewise has value. Some people are trying hard to damage this resistance in order to say "see? Bitcoin is crap, it can be forked, it can be inflated through forks, uncertainty can be introduced on what fork will be the "right" one, etc etc... gold doesn't have all this bullshit, I'll stick with gold / stocks / fiat".

This is why all the forkers are cancer. They are undermining bitcoin, or are actively trying to control it, under any narrative like "bigger blocks". Even when they had their "big blocks" with BCH and the 8mb fork, now they are trying to take BTC to 8mb as well with S2X. Why don't they simply stick to BCH? It's simple: Because it was never about big blocks, it was about CONTROL.

I would even go so far to say that for some of the bad actors involved, it's not even about control. If they are secretly being state-sponsored, then it's about bringing down Bitcoin entirely. Or at least dividing it, diluting it, and undermining it so much that it gets completely marginalized in the public eye, forever seen as a chaotic niche geek thing and not seen as the serious financial game changer that it is.

It's almost like their game plan is "Well if we can't centralize control of Bitcoin, then we'll continue to try and undermine it."

[Ludwig Von]

Bitcoin is trying to compete with assets like Gold. You can't "fork" Gold or redefine what Gold is and that has value. Bitcoin's resistance to re-definition, likewise has value. Some people are trying hard to damage this resistance in order to say "see? Bitcoin is crap, it can be forked, it can be inflated through forks, uncertainty can be introduced on what fork will be the "right" one, etc etc... gold doesn't have all this bullshit, I'll stick with gold / stocks / fiat".

This is why all the forkers are cancer. They are undermining bitcoin, or are actively trying to control it, under any narrative like "bigger blocks". Even when they had their "big blocks" with BCH and the 8mb fork, now they are trying to take BTC to 8mb as well with S2X. Why don't they simply stick to BCH? It's simple: Because it was never about big blocks, it was about CONTROL.

I would even go so far to say that for some of the bad actors involved, it's not even about control. If they are secretly being state-sponsored, then it's about bringing down Bitcoin entirely. Or at least dividing it, diluting it, and undermining it so much that it gets completely marginalized in the public eye, forever seen as a chaotic niche geek thing and not seen as the serious financial game changer that it is.

It's almost like their game plan is "Well if we can't centralize control of Bitcoin, then we'll continue to try and undermine it."

Everything Chinese is owned and controlled by the Pboc for it 's own purpose and goals.

[AlcoHoDL]

I would even go so far to say that for some of the bad actors involved, it's not even about control. If they are secretly being state-sponsored, then it's about bringing down Bitcoin entirely. Or at least dividing it, diluting it, and undermining it so much that it gets completely marginalized in the public eye, forever seen as a chaotic niche geek thing and not seen as the serious financial game changer that it is.

It's almost like their game plan is "Well if we can't centralize control of Bitcoin, then we'll continue to try and undermine it."

I see your points. And we should say to them, "Bring it on. Come and get it." And they will fail. And this will be good for Bitcoin (the original and only one), for the reasons AlexGR outlined in his post. Bitcoin will come out stronger, having proven that it can resist re-definition. Actually, this whole BCH/BTG/SegWit2x mess may turn out to be a blessing for Bitcoin. A test if you will. And it shall pass it with flying colours.

[LewisPirenne]

Though the article is in Chinese, it is interesting in that it includes the latest interviews from Jihan Wu of Bitmain and Samson Mow of Blockstream.

http://www.bitcoin86.com/news/17847.html

Something that I find interesting in that interview, various rumors that are denied by Jihan Wu,

1) Jihan Wu is an investor in Bithumb of South Korea (you know, where they are trading 1.5 ~ 2 million BCH at USD$1 billion volume PER DAY).

2) Bitmain's revenue is over USD$1 billion per year.  They made over $150 million profit (1 billiion CNY) in 1st half of 2017, with profit likely much higher in the 2nd half.

3) There are uncertainty concerning future China govt policy towards crypto.  They had tense relationship with some of local govt, like in Xinjiang and their Yunnan facility actually had to stop operation after electricity was cut off.

4) Jihan is going to enforce NYA in the upcoming S2X fork.  But also recognizes that he got significant hashrate from other miners and thus had to take profitability into account.  But unlike BTC.TOP and VIABTC pool, he did not come out and say that he is going to offer miners the option of mining both Segwit chain.

[conspirosphere.tk]

am I missing something?
...But what drives this - is it simply because Core is THAT hated?  And if it is, will the 2X cohort have any chance of pulling this off...

You're missing that bigblockers are just a false front/astroturfing ruse to kill the last decentralized piece of the bitcoin network (nodes) so to pwn it.
And that's the least that you can expect from TPTB, who are doing that just because they identified nodes as the the weak point -and rightly so since they are just a bunch of nerds doing unpaid volunteer work with their own scarce means.

What drives it is the threat to fiat money constituted by bitcoin. If their next forking attack will fail (((they))) will try other vectors. Of this I am quite certain.

[fragout]

I dont think enough people get that 2X isnt or might not be just another free airdrop. The only scenario that both chains survive is if replay protection is included in either one. Both sides have no plans for this, so its going to be a battle which only one side will prevail. To make matters worse, the winning conditions are not even agreed upon. One side says hash rate majority wins and the other says market cap.
To me the very fact that a battle even exists when btc is hitting records in both marketcap and mainstream attention is just baffling

[oblox]

I dont think enough people get that 2X isnt or might not be just another free airdrop. The only scenario that both chains survive is if replay protection is included in either one. Both sides have no plans for this, so its going to be a battle which only one side will prevail. To make matters worse, the winning conditions are not even agreed upon. One side says hash rate majority wins and the other says market cap.
To me the very fact that a battle even exists when btc is hitting records in both marketcap and mainstream attention is just baffling

This is where I'm at as well. I'm impressed that BTC is just honey badgering to new highs but I'm left wondering why as this is arguably the largest contested fork less than two weeks out. I would have figured we would have seen more clarity with signally changing but it hasn't changed that much. Then you have Jeff starting his own coin so its like, who the fuck is going to develop this thing.

[kurious]

I dont think enough people get that 2X isnt or might not be just another free airdrop. The only scenario that both chains survive is if replay protection is included in either one. Both sides have no plans for this, so its going to be a battle which only one side will prevail. To make matters worse, the winning conditions are not even agreed upon. One side says hash rate majority wins and the other says market cap.
To me the very fact that a battle even exists when btc is hitting records in both marketcap and mainstream attention is just baffling

This is where I'm at as well. I'm impressed that BTC is just honey badgering to new highs but I'm left wondering why as this is arguably the largest contested fork less than two weeks out. I would have figured we would have seen more clarity with signally changing but it hasn't changed that much. Then you have Jeff starting his own coin so its like, who the fuck is going to develop this thing.

It's even not sure how to split coins AFAICS...

[bitserve]

I dont think enough people get that 2X isnt or might not be just another free airdrop. The only scenario that both chains survive is if replay protection is included in either one. Both sides have no plans for this, so its going to be a battle which only one side will prevail. To make matters worse, the winning conditions are not even agreed upon. One side says hash rate majority wins and the other says market cap.
To me the very fact that a battle even exists when btc is hitting records in both marketcap and mainstream attention is just baffling

This is where I'm at as well. I'm impressed that BTC is just honey badgering to new highs but I'm left wondering why as this is arguably the largest contested fork less than two weeks out. I would have figured we would have seen more clarity with signally changing but it hasn't changed that much. Then you have Jeff starting his own coin so its like, who the fuck is going to develop this thing.

It's even not sure how to split coins AFAICS...

I wonder if miners will be trying to sell the first newly minted coins after the fork for a big premium.....

[gembitz]

Though the article is in Chinese, it is interesting in that it includes the latest interviews from Jihan Wu of Bitmain and Samson Mow of Blockstream.

http://www.bitcoin86.com/news/17847.html

Something that I find interesting in that interview, various rumors that are denied by Jihan Wu,

1) Jihan Wu is an investor in Bithumb of South Korea (you know, where they are trading 1.5 ~ 2 million BCH at USD$1 billion volume PER DAY).

2) Bitmain's revenue is over USD$1 billion per year.  They made over $150 million profit (1 billiion CNY) in 1st half of 2017, with profit likely much higher in the 2nd half.

3) There are uncertainty concerning future China govt policy towards crypto.  They had tense relationship with some of local govt, like in Xinjiang and their Yunnan facility actually had to stop operation after electricity was cut off.

4) Jihan is going to enforce NYA in the upcoming S2X fork.  But also recognizes that he got significant hashrate from other miners and thus had to take profitability into account.  But unlike BTC.TOP and VIABTC pool, he did not come out and say that he is going to offer miners the option of mining both Segwit chain.

~don't you read chinese newspapers? :-D lol

[conspirosphere.tk]

Ok, here's the next cool alt:

[yefi]

Is it possible thou dothst not knoweth that of which thou speaketh?

#archaicgrammarnazi

[d_eddie]

Why the fuck are RogerBucks up so much ? The hell is up with that shit ?

Cause speculation:

https://bitcointalk.org/index.php?topic=2259054.0
https://theflippening.github.io/open-letter-to-bitcoin-miners-from-another-miner/

+ people shilling this speculation on social media

I just finished reading the open letter, and, I must admit, it scared the hell out of me. I have already sold all my Bitcoin Cash. I really wish things will not turn out the way the letter describes!

Wondering if we all should have kept our BCH...

Jimbo and jbreher may well turn out to be the smartest guys among us.

Patience is key, indeed. I'm still keeping some just in case...

[lightfoot]

So as Bitcoin rolls past 7350 with a ho hum, I think it's time to define some standards.

For example: What is the standard Lamborghini that people put in their portfolios? The LP500S is a great car, but kind of rare-ish and wonky. Would the Diablo be a standard unit of measurement, or something else?

C

[JimboToronto]

Good morning Bitcoinland.

First day in almost a week without an ATH yet... currently $7332USD/$9358CAD (Bitcoinaverage).

AltCash has also slowed it's recent rise and sits at $635USD/$810CAD (Coinmarketcap).

Consolidation is good. ATHs are good too.

Let's continue on up the stairway to heaven. Go Bitcoin go.

What is the standard Lamborghini that people put in their portfolios? The LP500S is a great car, but kind of rare-ish and wonky. Would the Diablo be a standard unit of measurement, or something else?

Does Lamborghini make a limousine? I prefer to be chauffeured.

[yermom]

Ok, here's the next cool alt:

https://pbs.twimg.com/media/DNy1jKNWAAANy33.jpg

Hmmm... it looks like a spanish flag! Oh dear

PS: btw the boy doesn't seem gay enough, it's not gonna succeed

[Globb0]

Ok, here's the next cool alt:

Grumpy old bitcoin man has full bags!    

[jojo69]

Countach

but I'm more of a D type Jag guy myself

and even that would have to wait until I found an ex-works group B Quattro

[TheFlynn49]

Ok, here's the next cool alt:

Grumpy old bitcoin man has full bags!    

I am very afraid to ask what precisely is the Proof-of-Work of that alt ? !