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

[Phil_S]

Surely some TA and Fibonacci numbers predicted this roller-coaster, right? 

[xhomerx10]

Why is ETH up and BCH down? This market makes zero sense.

Nobody except losers will care about that.

Technically I'm a winner. It just seems odd.

 We're going to need to see medals and trophies or it didn't happen.

[Elwar]

Why is ETH up and BCH down? This market makes zero sense.

Makes perfect sense...Ver and most of the BCH crowd are big ETH supporters.

BCH was poised to be the solution to Bitcoin's woes if the S2X fork completely hosed both systems and brought everything crumbling down.

So people started buying BCH with their ETH.

Now that the S2X fork isn't happening people are moving their money back into ETH.

[ssmc2]

https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/

Their articles are usually on point but this one seems like fear mongering.

[Gab0]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?

In fact, yes.
Imagine when millions of people are opening and closing LN channels or executing smart contracts.
It is not my intention to spread FUD, but we have an eventual problems between our hands.
I really hope bitcoin can scale offchain, as onchain.

[gwoplock]

https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/

Their articles are usually on point but this one seems like fear mongering.

Quantum will kill all hash functions. the thing is we are still > 10 years from home quantum. Currently, it only works in the lab near absolute 0

edit: I a word

[Last of the V8s]

We can celebrate, but let's not gloat guys.

I, for one, praise the S2X camp for achieving the internal consensus to pull back from the brink.

We will eventually, in a safe and orderly manner, address their concerns regarding scaling.

In the end, they behaved like rational adults.  Perhaps we can have nice things.

Well you're a very nice guy.

On the other hand I will never trust any of these guys.

They proved they are anti-bitcoin when they didn't back down months ago.

These deceitful cowards will be back for your nice things.

[Rosewater Foundation]

Why is ETH up and BCH down? This market makes zero sense.

Makes perfect sense...Ver and most of the BCH crowd are big ETH supporters.

BCH was poised to be the solution to Bitcoin's woes if the S2X fork completely hosed both systems and brought everything crumbling down.

So people started buying BCH with their ETH.

Now that the S2X fork isn't happening people are moving their money back into ETH.

You're right, makes sense..

[xhomerx10]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?
Have you ever done an international wire?

 No word of a lie, just did one Thursday; it arrived at its destination account yesterday and it was no charge.  I was so surprised when the bank teller told me "No charge.  It's free!", but then it worked out to nearly a 5% flogging on the exchange rate differential - they now make their money in other, more subtle ways.

[xhomerx10]

We can celebrate, but let's not gloat guys.

I, for one, praise the S2X camp for achieving the internal consensus to pull back from the brink.

We will eventually, in a safe and orderly manner, address their concerns regarding scaling.

In the end, they behaved like rational adults.  Perhaps we can have nice things.

 Screw it. I'm going to violate a forum rule for this one.

+1

[mattimann]

Can we launch a public request to Jihan to donnate a few servers (no longer needed anyway) to Kraken? At least he would serve some public interest by doing so... .

Kraken are actually doing quite well with their laptop.

i alway´s thought they are using a C64

[Higher Altitude]

Stocked up on that bounce.

On board the 8k CHOOCHOO now.
Fiat = Deer in headlights 

[Rosewater Foundation]

SegWit2x futures are inching back up. Imagine this is a war ruse.
Quick! Attack all the hatches! Batten down the sinews!

[Elwar]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?

In fact, yes.
Imagine when millions of people are opening and closing LN channels or executing smart contracts.
It is not my intention to spread FUD, but we have an eventual problems between our hands.
I really hope bitcoin can scale offchain, as onchain.

How often does one open and close a credit card in their lifetime?

[suzanne5223]

Tomorrow >$8k

It good to optimistic but are you sure about that mate because there is some kind of dump in price of bitcoin cause it was around $7200 price range 10minutes back and it now $7100.

[TheFlynn49]

ViaBTC has turned it's Segwit2X flag off, has it not ?

493670    7 minutes ago    0x20000000    ViaBTC    f/ViaBTC/Bitcoin Cash/,mm"Œy3jHpm@~/^
&

zeҁ    No    No    1,053.97    3,993.21
493668    28 minutes ago    0x20000000    ViaBTC    d/ViaBTC/Bitcoin Cash/,mmcaI-+:7w]vU


~<,    No    No    1,047.23    3,993.17

[Rosewater Foundation]

^good point, who's still signalling?

[mymenace]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?

In fact, yes.
Imagine when millions of people are opening and closing LN channels or executing smart contracts.
It is not my intention to spread FUD, but we have an eventual problems between our hands.
I really hope bitcoin can scale offchain, as onchain.

How often does one open and close a credit card in their lifetime?

This is interesting, I hope everyone realizes

Bitcoin is built and tested it works


Here is the part where everybody else comes in

Build on top of it....

Build around it

Build with it

You can do almost anything to make it cheaper, faster, more efficient

[Gab0]

The tx fees suck because the value is so high

I did 6 btc tx yesterday with electrum using dynamic fees within 2 blocks. They averaged 3$ each.
Is that too damn high?

In fact, yes.
Imagine when millions of people are opening and closing LN channels or executing smart contracts.
It is not my intention to spread FUD, but we have an eventual problems between our hands.
I really hope bitcoin can scale offchain, as onchain.

How often does one open and close a credit card in their lifetime?

I can be wrong, correct me if I do.
To use LN you must create payment channels. If I want to buy something on Amazon, I should open a payment channel with Amazon. But, if tomorrow I want to buy something on Ebay, I must also open a channel with them? And if later I want to buy a coffee at Starbucks, should I open another channel?
If a company creates an smart contract for an ICO, should not every certain period of time liquidate the coins in the blockchain?

Anyway ... if millions of people only open and close one LN channel, it is already an overwhelmingly bigger burden than the current one.

[TheFlynn49]

^good point, who's still signalling?

BTCC, AntPool Bixin BTC.top GBMiners BitClub still signal it.