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

[tscen]

...snip image ...

copy-paste image to google translate ... grmblblbl doesn't work dammit

The title: emergency announcement to ban bitcoin mining
Details are basically to notice any sub power stations to stop providing electricity to bitcoin minging business. any violators will be punished (get their power generation license revoked aka kicked out of business).

Soon we'll find some cheap asic miners on ebay ...

It's just from one electricity company in one of 33 provinces in China.
Unless the ban expends to other provinces, you won't find any cheap miners on sale.

https://upload.wikimedia.org/wikipedia/commons/thumb/4/46/China_provinces.png/450px-China_provinces.png

[promomei]

crazy days  
bitmain.com only BCH(Bitcoin Cash) payment method is accepted

[BTCMILLIONAIRE]

crazy days  
bitmain.com only BCH(Bitcoin Cash) payment method is accepted

Not for much longer if the "China banning Bitcoin mining" is real. Fuck Denma Bitmain.

[tscen]

FUD?  Who knows.
-snip-

I gave that image to Google translate and this is what I got back in English:

Each grid of small hydropower: Bitcoin production is illegal business, all grid-connected power station also belong to the illegal transfer of power operations, since the date of receipt of notification, all grid-connected power stations stop production of bitcoin, power generation by Zhang Valley Substation unified scheduling arrangements, continue to illegally transfer power grid-connected power station, our company will be relieved net punishment. State Grid Sichuan Ganzi Prefecture Power Co., Ltd.

stop doing it yourself, read my post.

[promomei]

crazy days  
bitmain.com only BCH(Bitcoin Cash) payment method is accepted

Not for much longer if the "China banning Bitcoin mining" is real. Fuck Denma Bitmain.

agreed fck asics 

[RejectedBanana]

Any thoughts on how high the next BCH rally will go?  I'm thinking we might hit 0.8 temporarily, and then crash.  I don't think we'll spike above 1.0 on the next wave.  At this stage, I think anything over 0.4 is a good place to take profits.

Just as an addendum to your work of art, I permit myself to note also the middle finger formation given by the initial bump in the chart.

That's a dick if I've ever seen one. That just blew its load. Initial bump is the scrags. Nicely done.

[sirazimuth]

There are no new scams under the sun.
How very dull.

An appeal to the governments of the soi-disant nation states:
I would like to see new and more entertaining scammers, please.

How is this for a new scam idea - send me 500BTC and I will send you an image of my own creation, with a resolution of 1280x960 - great for a desktop background.

Oh sorry - someone has already SUCCESSFULLY done this back in the day.
https://bitcointalk.org/index.php?topic=25

Proof - the address still has $4m
https://blockchain.info/address/1BHtsCnpmTvpgJEP7eMKEVhpJFunxSM8vq

Wow! Very interesting.
Old legacy threads like that complete with Satoshi
posting replies I find fascinating. Thanx for linking.

[oblox]

There are no new scams under the sun.
How very dull.

An appeal to the governments of the soi-disant nation states:
I would like to see new and more entertaining scammers, please.

How is this for a new scam idea - send me 500BTC and I will send you an image of my own creation, with a resolution of 1280x960 - great for a desktop background.

Oh sorry - someone has already SUCCESSFULLY done this back in the day.
https://bitcointalk.org/index.php?topic=25

Proof - the address still has $4m
https://blockchain.info/address/1BHtsCnpmTvpgJEP7eMKEVhpJFunxSM8vq

No... that address does not still hold that amount... gone since 2011.

[ghandi]

Do you guys know/use any kind of coin monitor site? Not like cryptowatch or coinmarketcap.

More like "add this coin to my watch list and send an email when it reaches X satoshi"?

[Last of the V8s]

...snip image ...

copy-paste image to google translate ... grmblblbl doesn't work dammit

The title: emergency announcement to ban bitcoin mining
Details are basically to notice any sub power stations to stop providing electricity to bitcoin minging business. any violators will be punished (get their power generation license revoked aka kicked out of business).

Soon we'll find some cheap asic miners on ebay ...

It's just from one electricity company in one of 33 provinces in China.
Unless the ban expends to other provinces, you won't find any cheap miners on sale.

maybe Sichuan's loss can be turned into Southern or Occupied Mongolia's gain. (sorry won't call it 'Inner')
https://twitter.com/VJMallet/status/930228216068837376
https://www.ft.com/content/86db7612-c822-11e7-ab18-7a9fb7d6163e
China coal glut threatens to create $90bn in ‘stranded assets’
Report predicts huge losses on investments as country shifts to renewable energy

edit/add conspiracy: maybe Kangding is just too damn Tibetan for the centre to countenance. easier to mine with the more docile Mongolians to use up all that coal...

[Paashaas]

FUD?  Who knows.

Tencent reported that Sichuan has issued a notice indicating that all BTC production is ILLEGAL.  Thus all hydro power plants are to cut off electricity supplies or face penalty.

The second image is the supposedly "official document".

As I discussed before, those miners ship their Antminers to KangDing in Sichuan during Spring as the Himalaya melts and water flow downstream into Sichuan for cheap electricity from hydro power.  Miners ship their Antminers back to coal producing region like Inner Mongolia during winter as the Tibetan plateau freezes up and electricity cost doubles.  Just to note that it is almost winter now.

Edit: Just to note that this is actually "Bullish" for BTC as it will effectively kill off those Bitmain mining farms, if true, or at least increase electricity cost significantly.  So that individual miners actually have a chance to mine if profitability allows.

http://8btc.com/data/attachment/forum/201711/14/183317v6w7rmbi1916l95v.png

https://pbs.twimg.com/media/DOlnUdhXcAA_Vtk.jpg

Karma much?

Hopefully it is true and not fake news.

It's true, Chinese mining crackdown incoming. Jihan Wu didn't show up for the mining panel today at ETCsummit, he was 'sick'  

[BTCMILLIONAIRE]

FUD?  Who knows.

Tencent reported that Sichuan has issued a notice indicating that all BTC production is ILLEGAL.  Thus all hydro power plants are to cut off electricity supplies or face penalty.

The second image is the supposedly "official document".

As I discussed before, those miners ship their Antminers to KangDing in Sichuan during Spring as the Himalaya melts and water flow downstream into Sichuan for cheap electricity from hydro power.  Miners ship their Antminers back to coal producing region like Inner Mongolia during winter as the Tibetan plateau freezes up and electricity cost doubles.  Just to note that it is almost winter now.

Edit: Just to note that this is actually "Bullish" for BTC as it will effectively kill off those Bitmain mining farms, if true, or at least increase electricity cost significantly.  So that individual miners actually have a chance to mine if profitability allows.

http://8btc.com/data/attachment/forum/201711/14/183317v6w7rmbi1916l95v.png

https://pbs.twimg.com/media/DOlnUdhXcAA_Vtk.jpg

Karma much?

Hopefully it is true and not fake news.

It's true, Chinese mining crackdown incomming. Jihan Wu didn't show up for the mining panel today at ETCsummit, he was 'sick'  

This makes me very happy. Hopefully it will also be illegal to park Chinese miners outside of China so he'll start running out of fiat for his wash trades.

[AZwarel]

I can only prove it with a 100% chance, that the "provided" hash of the transaction from an untrusted node is valid, if i can reproduce that final few kilobyte hashed data myself from scratch.
For that, i MUST HAVE every single previous hashes starting from the first iteration of said transaction (the coinbase tx), and recreate the chain of proof myself.

Uh...no.  But I'm sure you'll continue to prove to the intelligent readers of this thread that you neither understand the design of Bitcoin, the structure of the blockchain, nor the purpose of proof-of-work.  

Apart from argumentum ad hominem, you still have not addressed my arguments about the role of free markets in tx fee competition between peers nor about my thesis why you need the whole database to independently recreate the chain of hashes, which is okay, you are not obligated to.

I trust the "intelligent readers" can make up their own minds, and see you are dodging actual answers, and just repeating slogans.

https://dl.acm.org/citation.cfm?id=705669 is the first description of a proof-of-work system solution by C. Dwark and M. Naor. I am not an expert, but still, you do not know my knowledge level, you just assume things you can not prove. If you use this same thought process in your professional work, i would not expect too much from it to be honest.

Nothing personal - i have no emotional investment in this exchange - i just do not see any new (counter)argument from you, which makes this conversation pointless to continue.

[monsanto]

There are no new scams under the sun.
How very dull.

An appeal to the governments of the soi-disant nation states:
I would like to see new and more entertaining scammers, please.

How is this for a new scam idea - send me 500BTC and I will send you an image of my own creation, with a resolution of 1280x960 - great for a desktop background.

Oh sorry - someone has already SUCCESSFULLY done this back in the day.
https://bitcointalk.org/index.php?topic=25

Proof - the address still has $4m
https://blockchain.info/address/1BHtsCnpmTvpgJEP7eMKEVhpJFunxSM8vq

Wow! Very interesting.
Old legacy threads like that complete with Satoshi
posting replies I find fascinating. Thanx for linking.

Yet another reason to only use solid color backgrounds.

[gentlemand]

It's true, Chinese mining crackdown incoming. Jihan Wu didn't show up for the mining panel today at ETCsummit, he was 'sick'  

Still recovering from this - https://www.youtube.com/watch?v=IfAnshCKW9s&feature=youtu.be

[Last of the V8s]

Hope he gets better soon and I mean that most sincerely, as he has plenty to do.
Is there a 12 step program for recovering megalomaniacs in his neck of the woods?

[vroom]

[Searing]

It's true, Chinese mining crackdown incoming. Jihan Wu didn't show up for the mining panel today at ETCsummit, he was 'sick'  

Still recovering from this - https://www.youtube.com/watch?v=IfAnshCKW9s&feature=youtu.be

I've no idea what this would mean for BTC and or Alts...started a thread on this

befuddled on what it may mean long-term

https://bitcointalk.org/index.php?topic=2401962.0

It does look at first glance, something that China crypto miners could not get around forever thou...

feel free to comment in the above thread...I've no clue....(this whole month has made my head hurt ...with all the fud/drama/etc in crypto)

take the poll....

(ignore my thread..likely everyone else will)

Hope he gets better soon and I mean that most sincerely, as he has plenty to do.
Is there a 12 step program for recovering megalomaniacs in his neck of the woods?

had to reply to this...DAMN IT! ...you made me 'spray pop out of my nose' reading this

It is a good point....what happens to a megalomaniac when it all goes off the rails? Does he become the opposite? Ghandi perhaps? Does he double down on the Meglamanic option?

(gets popcorn will be interesting week ..if this whole cheap electric china crackdown has any credibility..this will be quite the sh*t show

[monsanto]

https://twitter.com/cnLedger/status/930436656045342720

The head of that company has clarified that they made mistakes on the statement, as they are not a government administrative department, and have no rights to determine whether bitcoin mining is illegal

This guy tends to be accurate.

[Searing]

https://twitter.com/cnLedger/status/930436656045342720

The head of that company has clarified that they made mistakes on the statement, as they are not a government administrative department, and have no rights to determine whether bitcoin mining is illegal

This guy tends to be accurate.

Again, I know zip..but at first glance still looks like they price of electric in some manner for bitcoin operators (and/or other crypto farms) is gonna
go up in a big way at least in that area of China

and if there is more money to be made....it will likely spread

that is of course unless the electric power generators get a 'cut of the action' for their excess power ...ie more locked down legally....

(hey, it is what I'd do....start tossing cash about at them ..see what sticks)