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

[jojo69]

when is that rumored new Japanese mining hardware supposed to come out?

[suzanne5223]

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

You don't need to worry yourself mate because bitcoin will always find it way back to the ATH. Do you remember the dumps that happen last year June? If I could remember correctly and how bitcoin pump after the dumps I think we're currently experience the  same thing right now. However, bitcoin will pump when it business working days.

[rolling]

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.

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

[gentlemand]

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

[rolling]

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

[gentlemand]

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

Of course it is. And it's all part of the big block hijack plan.

It can't be stopped unless BCH becomes worthless to mine. We'll have to wait and see with that.

Miners are not our friends and they're not supposed to be, though it certainly has been taken a little further than I ever expected.

[BlindMayorBitcorn]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

[TheFlynn49]

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

Of course it is. And it's all part of the big block hijack plan.

It can't be stopped unless BCH becomes worthless to mine. We'll have to wait and see with that.

Miners are not our friends and they're not supposed to be, though it certainly has been taken a little further than I ever expected.

Why do you people think that is a problem ? Bitcoin was working fine with 1/1000 of this hashrate not very long ago ...

[Gab0]

This is why I don't see any problem with the fees. If you can't afford those fees just use fiat banking. Bitcoin is for people that do value their money, financial freedom and privacy.

Your vision of what should be bitcoin, is far from being the one that initially captivated so many people, developers, investors, etc...
In a third world country, it is really important to have a payment system that is not banked. At the beginning bitcoin was very useful and very popular for those reasons. I do not plan to pay my coffee with bitcoin (and I hope I can do it with LN at some point), but every day bitcoin loses more and more utility in my country. And I'm frustrated to see that every day bitcoin becomes a tool for large investors, banks or investment funds, and ordinary people, on the street, are excluded.
And it seems to me, according to my humble opinion and what I have researched, that an increase to 2MB of block size is far from representing a danger or a problem to decentralization (especially when working on the optimization of block size) .
This increase would be a gesture of goodwill towards the community and would avoid all these discussions and hatred.

[BlindMayorBitcorn]

And seriously where is Loaded? Our side is weak beans.

[gentlemand]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

Time to do your duty, son.

You first.

[becoin]

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

It is problem for bitcoin but it is death for the altcoin. With this speed all 21 million shitcoins will be mined next year. And then nobody will look at it because it was created to offer low fee txs.

[BlindMayorBitcorn]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

Time to do your duty, son.

You first.

Ok, I have a plan. It doesn't involve pants. Hear me out...

[erre]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side

[gentlemand]

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side

Is there not one extremely simple reason why it would be pointless?

No one's using it for fuck all so they wouldn't care and they're used to a frozen blockchain anyway. If it fatally broke who'd give a shit other than Mr. Wu?

It's the polar opposite for BTC which is why it stings so much more. People are actually using it in real life and this is preventing them from doing so.

Bitcoin's biggest comparative strength is also a yawning vulnerability because of it.

[becoin]

Why are we not attacking bch?

Because nobody cares about bch. Miners will suck its blood and will throw it in the ditch.

[Kuriso]

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.

Thats what they want.  They want to wear you down.  Don't let them

[AlexGR]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side

Bch spamming would actually be zero cost because its mempool is empty. You could fill 8mb blocks pretty quickly. In fact, with something like 500 blocks per day, you could add +3 to +4gb of spam in there for nothing (in terms of cost).

A more "real" cost would be bitcoiners who wouldn't even bother downloading a 400-500-700gb chain to cash out their bch for btc. So that would "add" a bit in terms of bch price preservation.

[julian071]

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

This whole mining thing and the way it's organized really is a weak point of BTC.

[AZwarel]

This is why I don't see any problem with the fees. If you can't afford those fees just use fiat banking. Bitcoin is for people that do value their money, financial freedom and privacy.

Your vision of what should be bitcoin, is far from being the one that initially captivated so many people, developers, investors, etc...
In a third world country, it is really important to have a payment system that is not banked. At the beginning bitcoin was very useful and very popular for those reasons. I do not plan to pay my coffee with bitcoin (and I hope I can do it with LN at some point), but every day bitcoin loses more and more utility in my country. And I'm frustrated to see that every day bitcoin becomes a tool for large investors, banks or investment funds, and ordinary people, on the street, are excluded.
And it seems to me, according to my humble opinion and what I have researched, that an increase to 2MB of block size is far from representing a danger or a problem to decentralization (especially when working on the optimization of block size) .
This increase would be a gesture of goodwill towards the community and would avoid all these discussions and hatred.

Fees are high - apart from the spam attack -, because demand for blockspace is higher than the supply (and always will be). 2MB/4MB/1024MB wouldn't change it, there are near infinite demand for using the blockchain's utilities; time will always be an unchangeable limit for competing transactions, no matter the blocksize.

Stop bitching about it, that is what called free market, those who value the utility/time/cost of their transactions will outcompete those who do not, same as with every goods/services with free market valuation.

Also, how are high fees a sign of failure?
Classic socialist person thinking:
"this restaurant is full, it is clearly failing because I can not eat here, RIGHT NOW, for the price i esteem "FAIR" for a table, bruh bruh "
Sorry, you just got outpriced by the market.