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

[mattimann]

I don´t give a shit!
The Idea is not to let anyone tell you what is worth more in the future. It´s not only about the Value in compare to Fiat! YOU decide!

HODL!!!

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[Ibian]

As for the fees, Segwit2x will probably be a required fork for the "mainstream" Bitcoin, since Segwit alone failed to address the problem in the short term.

The "problem" with the fees will never be solved whatever we do. There will always be people that will say fees are too high. Segwit2x will fail to address the problem and Segwit4x will be required. Then Segwit8x wil be required and so on. 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.

Ten bucks per transfer really is too fucking high. I just made three of those, and not even for priority transfers - those are 15 a pop. And I will have to spend even more if I dig out the rest of my clonecash at this time, so that's gonna have to wait.

[mike4001]

If you hold the same amount (in coins) of BTC and BCH basically nothing has changed for you.

A few days ago they held a combined USD of ~7800 and it's the same now (though it's currently down to ~7500 but was touching 8000 a few hours ago)

[becoin]

Maybe BTC and BCH community can set aside their differences and destroy BTG 

BCH community?... Seriously?
This community is 3 men whose egos are bigger than Everest.

Craig Wright - Fake Satoshi who tried to con everybody.
Roger - Who told you Mt Gox and Bitcoin Unlimited were safe, and joined all possible BTC fork initiatives since day one.
Jihan - Mining/chip mafia leader and Antbleed purveyor.

What possibly could get wrong with BCH?

[Ibian]

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.

Our pic'a'nic bear really is not arguing in good faith. At least we see through him.

[bones261]

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%.

Why wouldn't they be able to sell their BCH within 12 hours? With blocks coming in at 1 per minute, you can move from pool to market in a few minutes. Furthermore, F2Pool makes it easy for you. They give the miners the option to pay you in BTC instead.
Its a wham, bam, thank you ma'am proposition. Don't worry, most of the miners will be leaving the BiTcH, shortly.

[jojo69]

The recent low barely brought us to mid channel, if it holds it may well have set the bottom for the next parabolic-er run.  Nothing even remotely worrying here.



1 day candles, log scale

[BlindMayorBitcorn]

If you hold the same amount (in coins) of BTC and BCH basically nothing has changed for you.

A few days ago they held a combined USD of ~7800 and it's the same now (though it's currently down to ~7500 but was touching 8000 a few hours ago)

Totally irrelevant.

[pfrtlpfmpf]

Jadda, jadda.

Imagine, a newbie is asking himself: Wtf ?
Place a suitable amount into bitcoin.
Bitcoin is way too volatile, but "bitcoin gold" gives him the stability.

Where would he place his money ?

Hmm ?



It´s about stability !   FTF : Fuck The Forks !

Ups, just realized, that bitcoingold was a fork itself.
But now it´s over, no ? 

[Last of the V8s]

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

couple weeks after Hashfast ship
no um it is v uncertain - this may have been big talk. 7nm is tricky for years to come

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

Time to do your duty, son.

You first.

You two would be better off making a K-pop video
that'll show 'em

[Punisher1314]

Fork.lol

76 BitCH blocks remaining until difficulty readjustement.
BTC chain will be 3x times more profitable in about an hour and a half.
BCH price about to RE-test 0.2 BTC/BCH support right now.

Popcorn.jpg

Why so worried peeps?

[bones261]

Fork.lol

76 BitCH blocks remaining until difficulty readjustement.
BTC chain will be 3x times more profitable in about an hour and a half.
BCH price about to test 0.2 BTC/BCH support right now.

Popcorn.jpg

Why so worried peeps?

Yes, it appears that Ver, Wu and friends doubled down on an 11 a hard 16 and ended up getting an ace a face. (Dealer isn't going to bust either...)

Edit: Fixed that for myself.  

[thisisntbic]

Why so worried peeps?

This^

Hasn't the weekend dump been happening (for the most part) on a weekly basis for months, if not years? Who cares if it's goes into BCH, or ETH, or LTC, or (insert other coin here).

https://www.youtube.com/watch?v=0sPvylTPCv8

_{(edit - grammar/typos)}

[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.

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.

It really is a bad analogy and does not seem to understand free market capitalism. On the other hand, his vision condemns the countries of the third world to stay out of this system, which seems to me an erroneous idea if we want bitcoin to be successful.

The free market means, among other things, free competition. Bitcoin competes for the network effect, and so far only outperforms other currencies by the inertia of being the first. If there is another currency that is able to satisfy the demand, adapting its offer and offering a fair price, consumers will prefer to opt for it.
And that's exactly what is happening now (and I'm not talking about BCH).
My concern is far from being considered as socialist, I worry about the competitiveness of bitcoin, and its usefulness.

What is the use of a decentralized bitcoin if nobody uses it because it is too expensive (transaction fees)? We must maintain the balance between decentralization and utility with the tools we have in our hands.
I really hope that LN is a success, but we still do not have it and we do not know when it will not be operational.

[mattimann]

New ATH in two weeks ?

[yermom]

You have the balls to say that paying high fees is financial freedom. FREEDOM  
Otherwise I can go back to banksters, why? Different faces, same slavery problem

[Ibian]

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.

They are. That's the idea. Stick around. They don't want clonecoins to succeed so much as they want bitcoin to fail. This is an actual war and it can not be won by running off.

[Nam3]

BitCoin is strong as fuck! I've just seen 1000 BTC sell wall (roughly 6.xx million) eaten away as a pie 

[ImI]

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.

In other words: 3rd world, go f*** yourself.

But honestly i think it's good that we finally are able to clearly see what the underlying differences are what Bitcoin should be and what not. My impression is that lots and lots of folks still don't understand that there is a big gap in the Bitcoin community when it comes to that.

[Gab0]

What is the use of a decentralized bitcoin if nobody uses it because it is too expensive?

wat the derp

I mean the fees per transaction. I expressed wrong.