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

[TheFlynn49]

...

The miners use their hash power as a weapon, the non-miners also have power over that weapon, as we determine the POW.

Changing POW, that's like using a nuclear weapon in bitcoinland, right?

[AlexGR]

A POW change is maybe the last step to fire the disruptive element. The appetite for POW change may have lessened with the failure of 2X, but now is the time we must prepare for it, and build a consensus for what should trigger it in the future. That alone should bring the disruptive element into line. The penalties for future disruption would be clear.

The miners use their hash power as a weapon, the non-miners also have power over that weapon, as we determine the POW.

A POW change is a complex issue as new things and attack vectors have emerged over time. I mean what's the possibility that Satoshi had envisioned "lack of cpu power for the pow function" due to the pow not being done by CPUs but instead becoming ASIC-centralized, and then a rival implementation (which he specifically told that is a bad idea) claiming the hashpower with short-term incentives and pump/dump actions on the markets? Near zero.

Even if you go for a cpu or gpu pow, what's to ensure that this pow function won't experience disruptions from other cpu or gpu coins that are pumped and become more attractive to mine? So pow-mining stability has to also be factored in. But since anyone can fork bitcoin and make a clone, then how can you navigate around this? The only solution I can think of is a combination of multiple pow functions that can run on cpu, gpu or asics / fpgas, all working in parallel / in turns / perhaps each with its own difficulty adjustment. So even if one or two types of pow hashpower leave, you can still have another. This type of system can also allow sha256 mining to co-exist but not dominate the mining.

There are probably other issues arising from multi-pow, as well as possible weaknesses, and then you also have to start thinking about futureproofing in terms of quantum computers... I mean if you are going to make a change, make it QC-resilient also... IBM is currently at 50 qubits, intel will launch 49-qbits cpu this year. But I'm not a cryptographer so I can't say with any certainty how different ordinary hashes can combine with QC-resistance and what the threshold of danger is for this type of "threat". Anyway...

...Meanwhile the market is trending near 6666 levels

[jbreher]

Anybody else beginning to think dumping BCH might not have been particularly wise?

..been tryin' to tell all y'all...

I bet that bear at the picnic table is really enjoying
his treat right about now......

ahhh heeeya boo-Boo! I got us a pick-a-nick basket!

Bitcoin tankeroo.

Rotation into Dash.

You too? ::sigh::

Nothing but the king's coin. Some will never learn.

Dumped my BCH at 0.2 - 0.23 right at the start. Did alright there...

So far .... though looks like if you haven't dipped back in, you mighta missed a five-bagger. With room to climb.

Well well, today i woke up and my selling order for my remaining BCH at 0.125 BTC/BCH has been filled! Seems that maybe it will rise a little bit more, but this is enough for me

Damn it, I hate cracking open my cold wallets, but that's just too good a deal to pass up.

Haha. Keep your power in your pants. It's a little rough spot, but grey skeyes are gonna clear up. No matter which side of the fork controversy you be.

alas, back to HODLING and the cattle grind I go...

As long as the cattle grind don't involve the cattle prod, perhaps all is well.

[jbreher]

Bust a move, suckers!

(haha)

[fluidjax]

You don't know how many BTC Ver has left. Some say he invested A LOT in shitcoins and his operations who may not be profitable at all!!!
Bitmain as probably the owner real significant miner for Bcash was also mining at a loss for quite some time.
We don't know how economically strong they really are at the moment. They are not broke!! But maybe also not as strong and competitive as you may think.

That is a good point, its all guess work really.


Look at this disgusting nonsense from Ver's, Bitcoin.com. Its actually linked from the home page.
The way they call BCash "Bitcoin Cash" and the real Bitcoin they call "Segwit 1X".
If that isn't a clear indication of their disgraceful underhand behaviour, think of all the newbies coming in and trying to make sense of it all.
It's brand highjacking, I have no idea if it is illegal, and I know Bitcoin shouldn't rely on state support, but the truth needs to get out there. This is simply dishonest.

[TheFlynn49]

bloomberg : "‘Buy Bitcoin’ Overtakes ‘Buy Gold’ as Online Search Phrase"

https://assets.bwbx.io/images/users/iqjWHBFdfxIU/i7d4w2nb3KGw/v1/800x-1.png

[Lopumbo]

>100K pending transactions and BCH Hashpower 33% in the last 24h, 40% in the last 12h

[AlcoHoDL]

[Last of the V8s]

[Karartma1]

I wonder where is the old good Barry: why didn't he sign the suspension? Jihan has Bitcoin Cash anyway, probably this was his plan anyway. Now that he accepts BCH for the miners it gets interesting.

One battle has been won but the war is not over.

In the meanwhile GO BITCOIN GO!

And sadly that was true. We should have understood that the whole NYA crap was a weapon of mass distraction. Alternative Cash has been created as a way to take over Bitcoin.

Thanks @AlexGR and fluidjax for your posts.

[Last of the V8s]

you mighta missed a five-bagger. With room to climb.

irlroflmao. such deluded hope.


such a splendid shill army you bu-tards have there: you the jay-bear, Peter chef scientist R, Adrianxxx and er that's it

are running round telling us penniless low-level core-tard fanbois 'shoulda held both, btc crash might yet win'.

your obergruppenführers can't be too certain, huh?


such Machiavelli, it's kinda cute

And sadly that was true. We should have understood that the whole NYA crap was a weapon of mass distraction. Alternative Cash has been created as a way to take over Bitcoin.

Thanks @AlexGR and fluidjax for your posts.

+21,000,000

[Last of the V8s]

a lot BTC whales dumped their BCH for a low value.

not sure. think many more whales have not yet dumped
am searching for a metric of how many wallets have not moved (hence not dumped out btc trash) since Aug 1, but cannot find for now.

[podyx]

Looks like we're going even lower. Is the bubble popping?

[pennywise]

I wonder where is the old good Barry: why didn't he sign the suspension? Jihan has Bitcoin Cash anyway, probably this was his plan anyway. Now that he accepts BCH for the miners it gets interesting.

One battle has been won but the war is not over.

In the meanwhile GO BITCOIN GO!

And sadly that was true. We should have understood that the whole NYA crap was a weapon of mass distraction. Alternative Cash has been created as a way to take over Bitcoin.

Thanks @AlexGR and fluidjax for your posts.

Let me declare here that I'm on the core side as most of you guys.

Now, ALL things taken into consideration, THIS IS GOOD.

Because:
- Jihan will get himself out of the market, because the economic majority will stay with main chain
- he will become the most hated person in the universe
- other miner producers will take his market share and he will slowly but surely be FINISHED.

It is good when a toxic MF like that schemes himself into oblivion. A fucking holiday, that's what it is!

[Last of the V8s]

Listen to the Tone-inator.
we could go to 6k, 5k, 1300, none of it would mean anything medium term bearish. it's just TA traders trading TA trades
and it all woulda happened with or without some shitcoin pumping
buy, hodl, troll

[Nam3]

Looks like we're going even lower. Is the bubble popping?

This guy answered your bubble question

Listen to the Tone-inator.
we could go to 6k, 5k, 1300, none of it would mean anything medium term bearish. it's just TA traders trading TA trades
and it all woulda happened with or without some shitcoin pumping
buy, hodl, troll

[conspirosphere.tk]

[Wekkel]

It looks like another opportunity to load up the truck. Rinse repeat.

[ivomm]

BCH is pure pump/dump scam. Soon it will crash back to 300$ and below. Wu and Ver can't help the coming shorting. It is good for Bitcoin that the daily profit miners switched to BCH. This means quicker recovery and new ATH for Bitcoin in the next days.

[Rosewater Foundation]

Anybody else beginning to think dumping BCH might not have been particularly wise?

..been tryin' to tell all y'all...

Some things money can't buy. I prefer to lose with dignity. But you do you