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Question: Aug. 31 Closing Price:
<$5,000 - 6 (16.7%)
$5000-$5,500 - 2 (5.6%)
$5,500-$6,000 - 7 (19.4%)
$6,000-$6,500 - 4 (11.1%)
$6,500-$7,000 - 5 (13.9%)
$7,000-$7,500 - 7 (19.4%)
$7,500-$8,000 - 2 (5.6%)
$8,000-$8,500 - 3 (8.3%)
Total Voters: 36

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 20394537 times)
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TheFlynn49
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November 07, 2017, 08:58:56 AM

That Bitconnect thing gets weirder and weirder :S


I understand it's kind of a Ponzi scheme, right ?
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AlcoHoDL
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November 07, 2017, 09:00:34 AM

That Bitconnect thing gets weirder and weirder :S

I understand it's kind of a Ponzi scheme, right ?

Too right!
JayJuanGee
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November 07, 2017, 09:02:24 AM

signaling has already dropped below 80% and as we know signaling means nothing anyway.  I think more plausible than your listed possibilities is the chance that miners simply balk at mining the new fork when they see the price is UNDERPERFORMING futures.
 


Well, do the miners even have segwit2x software that they can actually run?  rather than merely signaling intention?   


Maybe I am not technically savvy enough, yet I am thinking that they have to run the different (segwit2x) software in order to mine on the segwit2x chain, correct?  Has such software been tested and deployed and do they know it will work?  Or do they merely run the same software and change some kind of setting in order to switch which fork they are mining?
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November 07, 2017, 09:05:16 AM

That Bitconnect thing gets weirder and weirder :S


I understand it's kind of a Ponzi scheme, right ?

You send them bitcoins, they give you "Bitconnect coins" which you can then "loan out" and get "interest".

Basically, you send your bitcoins and get fake coins in interest payments.
TheFlynn49
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November 07, 2017, 09:07:36 AM

signaling has already dropped below 80% and as we know signaling means nothing anyway.  I think more plausible than your listed possibilities is the chance that miners simply balk at mining the new fork when they see the price is UNDERPERFORMING futures.
 


Well, do the miners even have segwit2x software that they can actually run?  rather than merely signaling intention?   


Maybe I am not technically savvy enough, yet I am thinking that they have to run the different (segwit2x) software in order to mine on the segwit2x chain, correct?  Has such software been tested and deployed and do they know it will work?  Or do they merely run the same software and change some kind of setting in order to switch which fork they are mining?


If the miner's software has been build with the same expertise that has been demonstrated on github/btc1, it's gonna be a bumpy ride, to say the least.
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November 07, 2017, 09:11:29 AM

1) Miners attack - inevitably leading to POW change.

Not really inevitably. I would give low chances for that extreme outcome.

Quote
After the fork, 2X'ers will dump  their BTC stash and dramatically reduce the price

We'll see. Up to now no one put their money where their mouth is.

Quote
3) CME is a godsend tool for shorters, and has been engineered to come online just before the fork.(2 days before)  It is not good news at the moment.

yes, and this is why I always disagreed with people happy to see big money enter in the scene.

Quote
4)  BTC may well immediately drop 15% after the fork. It shouldn't 'create value out of thin air' like the Cash fork.

15% would be a small correction. The question is what happens later. But atm I'm quite confident in bitcoin resilience. And similar previous attacks failed utterly.

Quote
The easiest attack for them is just creating empty blocks

I'm always been in favor of invalidating empty blocks. And now there are more reasons to do it.

Quote
6) The new difficulty algorithm in BCash becomes active a 2 days before the fork, again this has been engineered to ensure BCash can efficiently steal mining power from other chains.

They keep that trash alive just by a korean exchange which must be JihadWu's playground. BCH is a zombie coin whose expiry date is near.

Quote
they are un-predicatble because, as in a war, they depend of the tactics employed by the opposition. It all depends on the mind of the enemy, something you can't really know for sure.

The point is what is their objective. Since they cannot seriously believe that their alt would keep the bitcoin value they must be in just for the destruction, sponsored by TPTB behind the scene.
See: The cost of supporting the B2X fork: how to lose $100m in ten days https://medium.com/@danrobinson/the-cost-of-supporting-the-b2x-fork-how-to-lose-100m-in-ten-days-6797f7ef52da

Quote
I'm bullish for long term BTC, and will only support the original Core Chain, but the times are very uncertain and locking in some profits now is probably a wise move, (TBH I've already completed a sell, as I don't want to get caught in a rush for the door).

+1. But do not count on being able to buy back your btc cheaper. I would dump only what I can afford to forget about.
TheFlynn49
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November 07, 2017, 09:29:05 AM

That Bitconnect thing gets weirder and weirder :S


I understand it's kind of a Ponzi scheme, right ?

You send them bitcoins, they give you "Bitconnect coins" which you can then "loan out" and get "interest".

Basically, you send your bitcoins and get fake coins in interest payments.


And when is this thing supposed to blow up ?
Asrael999
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November 07, 2017, 09:57:02 AM

That Bitconnect thing gets weirder and weirder :S


I understand it's kind of a Ponzi scheme, right ?

You send them bitcoins, they give you "Bitconnect coins" which you can then "loan out" and get "interest".

Basically, you send your bitcoins and get fake coins in interest payments.


And when is this thing supposed to blow up ?

If it works like MMM it blows up when the ar8ehole running it decides to shut it down and keep the money, leaving the participants with tokens that are valueless. It will then reopen in another country and suck in a new batch of “customers”
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November 07, 2017, 09:57:53 AM

OK, I'm out. Sold everything @ 6120 euro. Only have some Dash and Byteball left. Gonna watch this whole Segwit2X-thing from the sidelines, I'll buy back cheaper or more expensive depending on the outcome.

Hope this selling everything pans out as well as the last time I did.

Did you leave the money or the exchange or withdraw it?

I left it on the exchange as I will be buying back (either cheaper or more expensive).
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November 07, 2017, 10:04:32 AM

What does this obvious ponzi scheme masked as a n00b investment platform have to do with even an inkling of bitcoin's progression again? Undecided

It damages bitcoin reputation.
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November 07, 2017, 10:05:21 AM

OK, I'm out. Sold everything @ 6120 euro. Only have some Dash and Byteball left. Gonna watch this whole Segwit2X-thing from the sidelines, I'll buy back cheaper or more expensive depending on the outcome.

Hope this selling everything pans out as well as the last time I did.

Did you leave the money or the exchange or withdraw it?

I left it on the exchange as I will be buying back (either cheaper or more expensive).

Similar to me Julian, also holding  Dash and Byteball both very interesting projects (and some bitcoin cash). I haven't cashed all by bitcoin segwit but a significant chunk, only because I have other uses for it. Bitcoin segwit can go up down or sideways from here, I'm happy with my decision.  

Besides bitcoin segwit is beginning to veer away from the cash concept towards being settlement layer for offchain transacting, not my favourite direction. I remain invested because it has retained the bitcoin brand and lots of support with that.


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November 07, 2017, 10:11:04 AM

You send them bitcoins, they give you "Bitconnect coins" which you can then "loan out" and get "interest".

Basically, you send your bitcoins and get fake coins in interest payments.


This cant be real.

Seriously, the level of stupidity is so high I cant barely believe it.
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November 07, 2017, 10:26:48 AM

You send them bitcoins, they give you "Bitconnect coins" which you can then "loan out" and get "interest".

Basically, you send your bitcoins and get fake coins in interest payments.


This cant be real.

Seriously, the level of stupidity is so high I cant barely believe it.

Are they actually getting away with it? It's illegal aint it?
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November 07, 2017, 10:38:20 AM

https://medium.com/@jimmysong/segwit2x-game-theory-scenarios-part-1-7f863904a72
Jimmy gives a balanced-ish view

My tl;dr - scammers Mike Belshe, Brian Armstrong and Barry Silbert are gonna need a bigger float.

There is no way that this round of attacks has enough dollars or secret, reserved hashpower behind it.

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November 07, 2017, 11:01:27 AM

I'm bullish for long term BTC, and will only support the original Core Chain, but the times are very uncertain and locking in some profits now is probably a wise move, (TBH I've already completed a sell, as I don't want to get caught in a rush for the door).
Im  still weighing these options, not decided yet:

1] to sell BTC now, in case bitcoin+b2x will go down, and after the fork both BTC+b2x will not add up to current price-so it would be cheaper to buy them after that
2]keep my BTC until I get b2x forked coins and then try to dump both as fast as possible, and wait. - the risk is it can drop down much faster before I'll be able to sell.
3] do nothing and keep both BTC and b2x indefinitely, hoping for the best. but i don't want to support any rogue fork or bitcoin takeover attempt.- therefore i would rather be out of BTC completely than hold b2x.

4] get out of all cryptos to fiat temporarily and wait for the dust to settle. (there is a chance alts will go deep down after BTC fork as well as bitcoin.) and reload later.

5] hedge with some alts (diversification) - may be risky as well. Some altcoins may pump hard though

--- aditional possible options:
*short BTC - but it would be against my "no BTC shorting" rule #1 of trading
*spend some bitcoin for hardware and stuff, before it (possibly) drops.

atm I still think we may see another ATH before fork, as people will panic buy, so they can get free b2x forked coins. ( hedging against the the takeover/death of BTC)
Arriemoller
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November 07, 2017, 11:20:25 AM


I just rushed to their thread to sign up and this little fella reckons it's the creation of my dream man.


Bitconnect was organized and is orchestrated, by well known Russian scammer Sergei Mavrodi and his partners. Mavrodi was running MMM scam in Russia and many other countries.


https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

https://en.wikipedia.org/wiki/Sergei_Mavrodi
 
I will post additional information about that guys and their location very soon.



I am sooo sold. And I'm printing that face on my entire ceiling.

Just look at the creator of all you bitconnect fuddy duddy fudsters
and

KNELL TO YOUR MASTER!

Muhahaahha!

He f'd you all from his Russian hacker mum's basement.

Pure mastermind at it's finest to keep bitcoin in the trenches of obscurity. Roll Eyes

No wonder it can not keep above and hold near it's ATH for atleast a week.

And NEVER WILL! Tongue

Newbie jail now!
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November 07, 2017, 11:24:07 AM

I'm bullish for long term BTC, and will only support the original Core Chain, but the times are very uncertain and locking in some profits now is probably a wise move, (TBH I've already completed a sell, as I don't want to get caught in a rush for the door).
Im  still weighing these options, not decided yet:

1] to sell BTC now, in case bitcoin+b2x will go down, and after the fork both BTC+b2x will not add up to current price-so it would be cheaper to buy them after that
2]keep my BTC until I get b2x forked coins and then try to dump both as fast as possible, and wait. - the risk is it can drop down much faster before I'll be able to sell.
3] do nothing and keep both BTC and b2x indefinitely, hoping for the best. but i don't want to support any rogue fork or bitcoin takeover attempt.- therefore i would rather be out of BTC completely than hold b2x.

4] get out of all cryptos to fiat temporarily and wait for the dust to settle. (there is a chance alts will go deep down after BTC fork as well as bitcoin.) and reload later.

5] hedge with some alts (diversification) - may be risky as well. Some altcoins may pump hard though

--- aditional possible options:
*short BTC - but it would be against my "no BTC shorting" rule #1 of trading
*spend some bitcoin for hardware and stuff, before it (possibly) drops.

atm I still think we may see another ATH before fork, as people will panic buy, so they can get free b2x forked coins. ( hedging against the the takeover/death of BTC)





The original chain Will survive
The original chain is Just under attack Thats all
To get more free coins
If  SegwitX2 has more hashrate iT doenst mean that Will survive
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November 07, 2017, 11:31:04 AM

1] to sell BTC now, in case bitcoin+b2x will go down, and after the fork both BTC+b2x will not add up to current price-so it would be cheaper to buy them after that
2] keep my BTC until I get b2x forked coins and then try to dump both as fast as possible, and wait. - the risk is it can drop down much faster before I'll be able to sell.
3] do nothing and keep both BTC and b2x indefinitely, hoping for the best. but i don't want to support any rogue fork or bitcoin takeover attempt.- therefore i would rather be out of BTC completely than hold b2x.
4] get out of all cryptos to fiat temporarily and wait for the dust to settle. (there is a chance alts will go deep down after BTC fork as well as bitcoin.) and reload later.
5] hedge with some alts (diversification) - may be risky as well. Some altcoins may pump hard though

I'm going for a combo of options 2 and 5. After the BCC|BCH fork some of the larger alts like XMR rocketed - Not sure if history will repeat itself - but certainly worth speculating over, if so there will likely be a small correction in BTC price - but nothing to cry about...
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November 07, 2017, 11:34:43 AM

"conferences about Bitcoin"
https://youtu.be/CHhcy_QQghU?t=13m15s

W T F   is that guys? Out of all the videos, only the first one was bearable (this one: https://youtu.be/hXRhIXp4idM), thanks to the pretty girls... How is it possible that people fall for this sh*t?

Damn!

people. are. stupid.

you can NEVER overestimate the levels of stupid that exist. never.

I can tell by the smug people in suits and the production values that they are going to fuck so many gullible people over.
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November 07, 2017, 11:35:44 AM

I'm bullish for long term BTC, and will only support the original Core Chain, but the times are very uncertain and locking in some profits now is probably a wise move, (TBH I've already completed a sell, as I don't want to get caught in a rush for the door).
Im  still weighing these options, not decided yet:

1] to sell BTC now, in case bitcoin+b2x will go down, and after the fork both BTC+b2x will not add up to current price-so it would be cheaper to buy them after that
2]keep my BTC until I get b2x forked coins and then try to dump both as fast as possible, and wait. - the risk is it can drop down much faster before I'll be able to sell.
3] do nothing and keep both BTC and b2x indefinitely, hoping for the best. but i don't want to support any rogue fork or bitcoin takeover attempt.- therefore i would rather be out of BTC completely than hold b2x.

4] get out of all cryptos to fiat temporarily and wait for the dust to settle. (there is a chance alts will go deep down after BTC fork as well as bitcoin.) and reload later.

5] hedge with some alts (diversification) - may be risky as well. Some altcoins may pump hard though

--- aditional possible options:
*short BTC - but it would be against my "no BTC shorting" rule #1 of trading
*spend some bitcoin for hardware and stuff, before it (possibly) drops.

atm I still think we may see another ATH before fork, as people will panic buy, so they can get free b2x forked coins. ( hedging against the the takeover/death of BTC)


Call me stupid, but I'm thinking of buying some more coins now... The thing is, if I buy after the fork, then which chain branch will my coins belong to? I don't want to have this uncertainty. I believe in Bitcoin, and even it there is a big drop, I believe and hope it will pick up again. So my losses will be in the short term. It has happened to me before, and HoDLing has rewarded me. Hopefully, after all is said and done, we will be left with valuable coins.
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