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

[AlexGR]

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE

That entire pdf is the biggest load of crap I've ever seen. It sounds like it was written by a 3rd grader. And there's a lot of "We the Management will manage things better for you" garbage rhetoric. So centralized management will decide what's best for the lowly masses. Got it.

It must be a joke or something...

"telling people what they cannot do, must do, and may do. All of this is slowing a
movement and lowering morale and energy. It just about sucks donkey balls."

[Torque]

It must be a joke or something...

"telling people what they cannot do, must do, and may do. All of this is slowing a
movement and lowering morale and energy. It just about sucks donkey balls."

Oh it gets even more hilarious and telling:

"They’re going to be joining Bitcoin Cash for their reasons, or they’re not going to be joining at all. And their reasons aren’t going to be “decentralization”, “censorship resistance”, “non-aggression money”, or any other nice theoretical construct. Their three reasons for joining Bitcoin Cash, in 99.999% of cases, are going to be profit, profit, and more profit, in that order."  

At least he's upfront on what BCH has always been about from day 1. Not Satoshi's vision at all. Satoshi's white paper means fk all to them.

[Gab0]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

ask the guy who's paying your wages to go easy on the spamming.

Why do you think someone pays me? Because I have a different opinion to yours? The only money I have received is the money I made in my investments. That is the reason for my concern.
In any case, it is not necessary to pay any person to spread FUD on this subject, since it is a real problem.

In my country, the purchases of ETH have increased considerably in comparison with BTC. The reason? The high rates of BTC. It's not FUD, it's a fact.

[itod]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

Those Bitcoin Unlimited guys measured the mempool performance and found out it was not the protocol issue, it is protocol implementation issue. Currently transactions commit to the mempool in the single thread exclusively, so it doesn't matter if you have 4 core, 8 core or 32 core processor once the mempool gets saturated it falls apart completely, not being able to process new transactions. They found about this empirically, through watching measurement charts. There is a video from Stanford conference held a week ago where they explained the details, link to Youtube is posted in this thread few pages ago. They wrote a multi-threaded implementation and then (surprise, surprise) made some additional "improvements" on the process, so even if their code will be opensourced it can not be patched directly to Bitcoin Core codebase, developers will have to do some of they own work on it. I'm surprised no one cached this long time ago.

[tonyq]

What matters is the hash rate ! Bitcoin is slow and has expensive transaction fees and it has sucked for a long time! Call me a troll but it's the truth...

You're not a troll, you speak the truth and a lot of people, me included are becoming disillusioned.
I have used bitcoin to bet with for 4 years now and used to be able to transfer coin quickly and cheaply from account to account via my wallets....It's now become a nightmare due to fees and absurd slowness.
I am on the verge of going back to fiat bookmakers....cheaper and faster.
Sad, but you have to be practical.
 

[har23]

many sell wall of 1000 BTC in bitfinex at different price.. This is sad.. really sad.

[True Myth]

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE

That entire pdf is the biggest load of crap I've ever seen. It sounds like it was written by a 3rd grader. And there's a lot of "We the Management will manage things better for you" garbage rhetoric. So centralized management will decide what's best for the lowly masses. Got it.

We encourage change and will never tell you what you can not do... (seconds later) here is a list of things that you can not do...

The suggestion of making holders of Bcash tons of money is litered throughout the statement. (they must be pretty confident)

The statement also drives the point home on how professional they are/will be however, this is one of the most unprofesional things I've read in a long time with words like "shitsling" and "donkey balls"...

In summary, I've decided to sell all of my BTC and buy Bcash to have fun and make money... pretty simple decision... *sarcasm*

[har23]

5500 is the next resistance, maybe 5000$.. so insane...

[barota]

Hmm.. might want to set some low buy orders just in case  

https://blockchain.info/address/14KsG6hxkM3cGGC4DvyEdf8uytoE7x9WRQ

I'm going to go out on a limb and say we'll see the largest sell wall in bitcoin history today.

I'm trying to remember some of the past giant sell walls in BTC history. One that stands out in my memory is the one at 300 when the guy cashed out.. I think it was around 30k BTC IIRC.  Of course, that could be dwarfed today in terms of USD value. And I have a feeling it will be soon.  Although this time there's a good chance it's only flashed. Be safe out there folks  

Any other news about dumping these huge amounts of roger ver ?!
25000 btc of roger ver + other rich addresses+ dump traders + ?+ ? --------- crash of bitcoin

[Torque]

Any other news about dumping these huge amounts of roger ver ?!
25000 btc of roger ver + other rich addresses+ dump traders + ?+ ? --------- crash of bitcoin

We could only hope! People are literally begging Ver et. al. to dump all their BTC. Please universe, please make this happen. Let them be gone forever! And we will buy up all the cheap bitcoin, yay.

[rolling]

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

[itod]

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

Why would do you assume they will not voluntarily mine BCH? They see this as an opportunity to get much more money for electricity spent. It will be over in a few hours anyway:

Code:

Coin	Date (UTC 24h)	Remaining 			Change
BCH	Nov 12th, 21:09	3 hours, 2 minutes (131 blk)	 +400.00%

[Gab0]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

Those Bitcoin Unlimited guys measured the mempool performance and found out it was not the protocol issue, it is protocol implementation issue. Currently transactions commit to the mempool in the single thread exclusively, so it doesn't matter if you have 4 core, 8 core or 32 core processor once the mempool gets saturated it falls apart completely, not being able to process new transactions. They found about this empirically, through watching measurement charts. There is a video from Stanford conference held a week ago where they explained the details, link to Youtube is posted in this thread few pages ago. They wrote a multi-threaded implementation and then (surprise, surprise) made some additional "improvements" on the process, so even if their code will be opensourced it can not be patched directly to Bitcoin Core codebase, developers will have to do some of they own work on it. I'm surprised no one cached this long time ago.

Thank you very much. I appreciate your response. I will look for the video that you mention.
But I still dont understand, this could help with high rates and makes spam attacks less effective?

Edit: Do you mean this presentation?
https://youtu.be/QkYXPJMqBNk?t=2059

[Hyperjacked]

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

This was a well orchestrated plan by a few and the majority will follow IMHO

It's only the beginning...

Disclaimer:I'm only right 67% of the time  

[rolling]

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

Why would do you assume they will not voluntarily mine BCH? They see this as an opportunity to get much more money for electricity spent. It will be over in a few hours anyway:

Code:

Coin	Date (UTC 24h)	Remaining 			Change
BCH	Nov 12th, 21:09	3 hours, 2 minutes (131 blk)	 +400.00%

No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%.

[itod]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

Those Bitcoin Unlimited guys measured the mempool performance and found out it was not the protocol issue, it is protocol implementation issue. Currently transactions commit to the mempool in the single thread exclusively, so it doesn't matter if you have 4 core, 8 core or 32 core processor once the mempool gets saturated it falls apart completely, not being able to process new transactions. They found about this empirically, through watching measurement charts. There is a video from Stanford conference held a week ago where they explained the details, link to Youtube is posted in this thread few pages ago. They wrote a multi-threaded implementation and then (surprise, surprise) made some additional "improvements" on the process, so even if their code will be opensourced it can not be patched directly to Bitcoin Core codebase, developers will have to do some of they own work on it. I'm surprised no one cached this long time ago.

Thank you very much. I appreciate your response. I will look for the video that you mention.
But I still dont understand, this could help with high rates and makes spam attacks less effective?

Mempool implementation is just one botleneck, you can not put more transactions then the block limit implies. At least multithreaded implementation will remove the cases where mempool falling apart and not filling the space it could fill is no longer the case.

[rolling]

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

This was a well orchestrated plan by a few and the majority will follow IMHO

It's only the beginning...

Disclaimer:I'm only right 67% of the time  

Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.

[gentlemand]

No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%.

They very clearly are.

And there's so much volume they could dump everything with barely a blip.

There's a very interesting interview with some Chinese miners on the World Crypto Network. Dunno if this is the right one - https://www.youtube.com/watch?v=fyZ-HlWFk78

The gist was that most Chinese miners don't know or care what they're mining. They don't understand anything. All they want is CNY.

If Mr. Wu can offer them more of that however briefly then they're going to take it. He doesn't have to own the hashing, just the opportunity to lure miners.

Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.

The pools will have programs that automatically switch to the most profit on a near instant basis. And you can bet the pools Bitmain controls offers the best iterations.

[rjclarke2000]

This is not a nice place to be now. Bcash is toxic and has caused major problems.

This thread has become divided and I for one am not enjoying coming here anymore.

I hope you bcash twats are happy. I'm off.

[barota]

Any other news about dumping these huge amounts of roger ver ?!
25000 btc of roger ver + other rich addresses+ dump traders + ?+ ? --------- crash of bitcoin

We could only hope! People are literally begging Ver et. al. to dump all their BTC. Please universe, please make this happen. Let them be gone forever! And we will buy up all the cheap bitcoin, yay.

yes . i agree with you mate  ; we want trade bitcoin in reasonable prices

for me over 3000 usd  per btc ; it's expensive