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

[Rosewater Foundation]

Q: how is it called when after a series of new ATH´s and the following drop the hottest bitcoin thread on the planet suddenly stops showing rockets/trains, etc..?

A: THE SILENCE OF THE LAMBOS

 

Way she goes, boys. Way she goes.
https://www.youtube.com/watch?v=_brgg7NcLz0

[1715548513]

1715548513

[windjc]

Who is making all the polls on this thread now that Adam is no longer here?

[LewisPirenne]

The only point of having a Lambo is part of the "peacocking" process where you are displaying your prowess (wealth) to the opposite sex and to others in the hopes of achieving higher social standing and thus being able to obtain a better mate and ensure the survival and prosperity of your offspring.

Totally legit human desire.

Not all that necessary though. When I had my Porsche I found it quite futile when trying to pick up women. I'd be in the bar, my Porsche sitting outside in the parking lot...no assistance to my game. Now I drive a 2005 Hyundai but have the hottest girlfriend I've ever had.

While I was in high school, I got a classmate who basically drove a Testarossa to school everyday.  One time, he got a suspension from school for a week, and was forced by his parents to attend a public school for a few days.  Not surprisingly, his Testarossa got smashed up and his face punched in on the first day.  

There is also this dad who would show up occasionally in his Lotus Esprit to pick up his daughter from school.  One time he showed up with a girl who looked and dressed younger than his daughter.  
"Hey, I didn't know that you had a sister?"
"NO, that's my new mom."
"Oh..."

Driving a classy antique and people might give you a thumbs up and chitchat with you.  Driving a Countach to school or to work and people might give you the finger and gossip behind your back.  Might as well get a chauffeur who can double as bodyguard, which I do see quite a few people do in real life.

[Elwar]

Hi Missy, I mean mom.

[Arriemoller]

It's down .2%???

Fuck, time to look at Trabants.

Humm, a slightly romanticized post era version... . (As the owner too) :-)

Maybe we should change the poll to "how many Trabis are you gonna buy".

[shmadz]

So, Tone called the top, sorta...

https://youtu.be/E4hLB33xtzA

Believe the hype?

[toknormal]

I am an investor. I am interested in block size. Ergo, claim is demonstrated as false.

Ok. I'll rephrase that in a manner that even you can identify with.

"Not one investor is remotely interested in blocksize, capacity or any other monetary vehicular niceties if it means the loss of 90% of the value of their holdings". (As it does when a suffix is added to the word "Bitcoin").

In other words, the market is arbitrating between stores of value and technologically versatile investments. Bitcoin is the latter so in that respect the one with the least tampering will be considered to have the maximum store of value. It doesn't need to support a gazillion transactions per second, it only needs to be more valuable than it was last year and support 7 transactions per second.

For performance and functionality, the market looks to either Visa or alts.

[Arriemoller]

I am an investor. I am interested in block size. Ergo, claim is demonstrated as false.

Ok. I'll rephrase that in a manner that even you can identify with.

"Not one investor is remotely interested in blocksize, capacity or any other monetary vehicular niceties if it means the loss of 90% of the value of their holdings". (As it does when a suffix is added to the word "Bitcoin").

In other words, the market is arbitrating between stores of value and technologically versatile investments. Bitcoin is the latter so in that respect the one with the least tampering will be considered to have the maximum store of value. It doesn't need to support a gazillion transactions per second, it only needs to be more valuable than it was last year and support 7 transactions per second.

For performance and functionality, the market looks to either Visa or alts.

Spot on

[Last of the V8s]

Profit time

have let Mrs V8s go to Tesco for once rather than Asda, but none of that Finest scam.

if it goes to 25k in December, maybe Waitrose...

[JayJuanGee]

   
After all, bitcoin's marketcap is now $100 billion and up 10x since the time when scaling debate really got heated.  

What do you mean by "heated?"   I think 10x is considerably understated... 

I think that the scaling debate was already going pretty hard when the price was in the $250s - and sure it "heated" up  more during the several month waiting period in early 2016, while BTC prices were floating between about $350 and $450.

But choosing any of those numbers would provide us with way more than 10x price appreciation during these ongoing nonsensical scaling debates (really attacks on bitcoin)

As I type BTC prices are bouncing between $7200 and $7400 - so I am going to use $7,300 as a price reference.  So let's look what is our current price appreciation that has taken place since the "scaling debate really got heated":

1) $250   -  29.2x

2) $350 - 20.86 x

3) $450 - 16.22 x


So, yeah, these nut job big blockers have been arguing doom and gloom of bitcoin since before $250 and arguing "scale or die" until they have been blue in the face, and the market does not seem to give a ratt's ass about their supposed doom and gloom assessments.

Does it care, this time?   I doubt it.  Sure we could have  BTC price corrections for other reasons, and yeah the fucking nutjob BIG blockers come in and say:  "I told you that we needed to scale.. blah blah blah"   So fucking what?  They are wrong and sure sooner or later, it seems that they could be right, but they are NOT correct.  There is no bitcoin scaling problem except in their fabrication and their ongoing attacks and largely the public, the smart money and the BTC market overall seems to appreciate bitcoin does not have these kinds of nonsensical made up problems that are overhyped on an ongoing basis.

[marcus_of_augustus]

https://www.coindesk.com/opinion-segwit2x-doomed-fail/

Blockchain protocol changes demand explicit, not implicit consent. So long as the cost of validating the network is low enough for most users to at least have the option to do so this will remain true.

Third parties may believe they can leverage their role as service providers and custodians to side-step this through attempts like Segwit2x, but they ultimately cannot force the network’s fully validating nodes to follow their new rules. Nor can they force their users or the wider market to demand their new token.

What necessarily follows from these facts is a new model of governance where politicking is supplanted by voluntary association, and the concept of representation is rendered obsolete by self-sovereignty. Segwit2x is a compromise the participants simply never had the power or authority to make.

If Segwit2x were to succeed in being collectively labeled as bitcoin, it must be despite the disagreement of the ecosystems vast majority of validating economic nodes.

This would mean that the coordinated actions of a few of the ecosystem’s large and visible players can unilaterally change the rules of the bitcoin protocol, a fact which would render bitcoin's reputation as a censorship-resistant store of value all but worthless.

Simply put, if these companies are successful in unilaterally changing the network rules without widespread consensus, then bitcoin would have failed.

sucking corporate dick and getting banged by chinese miners is not bitcoin ... that's just more of the same, "meet the new boss, same as the old boss" politicking, lying, cheating, stealing BS.

Self-sovereignty is what makes bitcoin valuable, you're gonna get #r3kt and have a bad time if you choose to do business with bitcoin and ignore that simple fact.

[Last of the V8s]

edit: ^aha. snap!

https://www.coindesk.com/opinion-segwit2x-doomed-fail/

Exchanges have also largely recognized "legacy" bitcoin, and after the fork, that Segwit2x coins will be treated as separate units of value. This is opposed to Segwit2x's original intention and goal, which was to seamlessly replace the current bitcoin protocol and the corresponding unit of value.

... it is likely that the Segwit2x agreement will only continue to lose more support prior to the activation date. Indeed, perhaps the only reason that we haven't seen more of this already is that there is little incentive for these companies to be among the first to back out of their agreement while there remains time before they are required to actually act on it.

By virtue of this, should Segwit2x launch at all, it will likely debut with much less than currently advertised support. Thus, signers are faced with the actual risk and cost of following through given the clear division in the ecosystem.

When even a ... 'full-stack javascript developer teaching at the Ironhack coding bootcamp in Miami, and a Henry Hazlitt fellow in Digital Development at the Foundation for Economic Education'

... understands bitcoin better than the suits.

C'mon, Barry, give it up now.

[JayJuanGee]

Well I successfully did that. But had I left my original investment in it would have nearly doubled in fiat value again. C'est la vie.

 If it's any consolation, I'm going to be liquidating $2M worth of BTC middle of 2018 and retiring early.

 I'm already kicking myself because I know in another 10 years, that $2M i'm going to sell will be incalculably more valuable.

Why buy that much fiat all at once? Why not just buy as much as you need as you go along.

I'd rather be retired with as much Bitcoin as possible growing in cold storage far more than a bunch of crumbling dollars in some bank account.

If you need to buy a new car, or some  real estate, or simply some cash to party with, by all means spend some coins as need be.

Otherwise it makes more sense to just continue holding.

EXACTLY!!!!

Some variation of incrementalism will work much better than making large moves.

 Accordingly, withdrawing 1 year or even up to 2 years of living expenses could be reasonable, just to be protected from some of BTC's potential and probable ongoing volatily - including to the downside....  - and really how many years of expenses does BobLBL consider $2 million to be? 

If he really believes that $2million is up to 2 years living expenses, then yeah, he would be o.k. to withdraw about that amount

[marcus_of_augustus]

C'mon, Barry, give it up now.

Reputational damage is starting to pile up ... the list of wounded is growing.

Gavin A., Mike Hearn, Jeff Garzik, Roger Ver, Jihan Wu, Stephen Pair, Oliver Jansen, Brian Armstrong, Erik Vorhees, Mark Karpeles .... many purporting to have strong libertarian leanings or ideals and they have totally botched putting self-sovereignty into practice, worse yet, disrespecting the opinions and rights of others to practice self-sovereignty.

[Meuh6879]

Now to be cool takes a LONG extension.

  ... at 0min50s : https://www.youtube.com/watch?v=DmhNY92JpYg

[JayJuanGee]

Who is making all the polls on this thread now that Adam is no longer here?

Yes... the OP has changed, and the new thread owner is listed...   He is making the polls in recent months.

[Last of the V8s]

So let me get this straight.
The CME Group is supposed to launch Bitcoin futures trading on Nov 14th. snip

where did you get this date pls? my duckduck-fu fails me....

[AlcoHoDL]

So let me get this straight.
The CME Group is supposed to launch Bitcoin futures trading on Nov 14th. snip

where did you get this date pls? my duckduck-fu fails me....

Forget the duck, Google is your friend...

http://www.nasdaq.com/article/setting-bitcoins-price-mechanism-cme-group-to-launch-btc-futures-cm869123

[ivomm]

https://cointelegraph.com/news/bitcoin-needs-new-proof-of-work-chain-after-segwit2x-says-bitcoinorg-co-owner

Not 2 but 3 bitcoins after the HF! I've expected that core team is secretly developing an emergency nuke POW change in case 2x wins. I know that some still think the legacy chain can survive with 20% hash support but it is not realistic. In this case unfortunatelly the original bitcoin will die and everyone will say: "The king is dead. Long live the king!" It remains to believe that by some magic wand the current price will be transferred to one of the forks.

[Meuh6879]

it will not win.
120 000 computers enforce Bitcoin rules.



if pro-mining don't want mine BTC chain, so ... others groups will do (and earn a LOT than the first group).