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

[jbreher]

I'm getting pretty tired of all this failure. 

goodgoodletthehateflowthroughyou.png

'All this failure' is the result of giving people what they do not want (because 'we' know better than you what you should want).

[Ludwig Von]

I'm a Trump-voting, libertarian-leaning conservative, and I'm fucking pissed.

There's a good debate here though: http://www.wnyc.org/story/net-neutrality-repeal-done-deal-open-question/

This is a better debate about it, where people claim net neutrality is socialist:

http://steemit.com/internet/@schattenjaeger/net-neutrality-is-not-a-human-right-it-s-socialism

And my reply to it:

What are you smoking? Net neutrality is the idea that you pay a flat fee to a broadband provider and they aren't allowed to manipulate your content. If they are allowed to manipulate your content, you aren't using an "internet", you're using an "intranet" because they will firewall off competitors or ideas they don't want people to have access too.

The end result is that there is no internet and there's only serfs who have the ability to choose which corporate walled garden (like the apple store) to subscribe to. So yea, you are sort of correct stating net neutrality is "socialism", if by that you mean all large, complex, public works projects are incapable of being done by the private sector because they don't have the land usage rights or millions of other rights to lay down pipes everywhere on other people's property to facilitate that business.

So I guess the argument boils down to the fact that socialism is anti-freedom, but can temporarily leverage resources to create larger, more complex structures than the private sector, before socialism inevitably collapses from immediately turning into crony capitalism. This makes "freedom" kind of a pro-Amish movement, but a free society will be less able to leverage resources to tackle big problems or create technological spectacles. This makes the Amish kind of right that technology is a deal with the devil. If you want the internet, then you want socialism, otherwise you're getting an intranet.

This one I like Roach. Maybe we should just consider internet, or any public service as a common, that would avoid the ideological - religeous zeolotery that always comes when the public domain is involved... .

[Rosewater Foundation]

I'm getting pretty tired of all this failure.  

goodgoodletthehateflowthroughyou.png

'All this failure' is the result of giving people what they do not want (because 'we' know better than you what you should want).

The only thing happening on that blockchain is a bunch of trading back and forth. No one uses it, no one cares.

Perfect timing for a good old fashioned weekend pump and dump tho.

[mymenace]

^^ That is gigantic news or at least Im pretty sure it is.   So many sites are not dealing with BTC directly but using the services of Bitpay to interface their site.    I'll definitely be reading up to check on that one but I presume they are partly motivated by the failure of Bitcoin with this backlog and I do consider it a kind of soft failure, for user experience its not acceptable.  Whoever thinks 20 dollar fees is ok is not right with the world.  Most arent cruising at that altitude, its a stall speed situation imho.

 a lot of people have a misconception that bitcoin is a polished product designed to work at all times and be the best online peer to peer currency

it is a test product and still in development

also bitcoin was never designed to provide external functionality except for a transparent ledger with currency transactions

it is up to the people involved with bitcoin to add to it e.g.

RSK is the first open-source smart contract platform with a 2-way peg to Bitcoin that also rewards the Bitcoin miners via merge-mining, allowing them to actively participate in the Smart Contract revolution. RSK goal is to add value and functionality to the Bitcoin ecosystem by enabling smart-contracts, near instant payments and higher-scalability.
https://www.rsk.co/

why bitcoin

because of the size and decentralised blockchain only bitcoin has

what i also have trouble grasping is if bitcoin has these problems imagine the problems other coins will have with teething issues bitcoin has already overcome

[realr0ach]

https://twitter.com/bitpay/status/941769498742394880

Bitpay goes Bcash.

No effort for Segwit. Them Bitmain shekels are powerful.

We will refer to this day as the day bitcoin died due to becoming an altcoin that also results in the entire sector dying by diffusion since there's no real overhead to create an infinite supply of altcoins, unlike the noble metals where you can't just create a new gold or silver out of the blue.  Bitcoin is a system of artificial scarcity of coin count and a fee market that requires artificial scarcity of block size.  Altcoins remove both of those things that bitcoin requires to function.  This is why people like Luke Jr are always spamming anti-altcoin shit, but they're entirely in the wrong because:

<r0ach_> it honestly pisses me off where people like (let's say midnightmagic) claim every coin except bitcoin is automagically a scam yet bitcoin isn't a scam.  That's just a pro-usury stance where everyone is forced to buy some idiot's overpriced coins and pay their overpriced fees.
<r0ach_> they're literally practicing usury while claiming it's decentralization LOL

[soullyG]

Warrant canaries gone from Bitfinex.

Ooooh that's interesting

[luckygenough56]

looks like bcash will overtake btc soon enough

[Rosewater Foundation]

I can't even be bothered to trade this dreck. Good luck everybody.

[HairyMaclairy]

I'm getting pretty tired of all this failure.  

goodgoodletthehateflowthroughyou.png

'All this failure' is the result of giving people what they do not want (because 'we' know better than you what you should want).

The only thing happening on that blockchain is a bunch of trading back and forth. No one uses it, no one cares.

Perfect timing for a good old fashioned weekend pump and dump tho.

The whole house of cards is going to come tumbling down this weekend.

[realr0ach]

looks like bcash will overtake btc soon enough

Well, technically all these coins are scams since every single one has centralized mining or stake, but whoever the scam leader is, is determined by who can fool the most people into claiming it's decentralized while also offering the lowest fees.  Since Bcash and Bitcoin are both entirely ASIC centralized under the same people, neither wins that department, but it's possible Bcash could win simply by having lower fees.  That is, unless it's possible to create a decentralized Lightning network, but it's not possible, it just centralizes bitcoin even further than it already is.  So everything depends on how many people you can trick with propaganda between each centralized system.

[Rosewater Foundation]

I'm getting pretty tired of all this failure.  

goodgoodletthehateflowthroughyou.png

'All this failure' is the result of giving people what they do not want (because 'we' know better than you what you should want).

The only thing happening on that blockchain is a bunch of trading back and forth. No one uses it, no one cares.

Perfect timing for a good old fashioned weekend pump and dump tho.

The whole house of cards is going to come tumbling down this weekend.

Coinbase is shrewd. They have every incentive to never get their SegWit on.

[jojo69]

looks like bcash will overtake btc soon enough

I'm glad we got that settled

[Ibian]

So the pareto distribution is fucking hax, you know?

Back in the bad old days before bitcoin, I had no money and made no money.

Now I have money and I use that money to make more money. Just made about $300 shuffling money around. That's like two days worth of hard work for low end jobs. Actual effort expended today, about an hour. And a bit of chatting people up which I frankly don't include under the banner of "work" since it's an excuse for me to ramble.

Today was a slow day.

And this is just a side income compared to, uh, sitting back and watching the price go up. I don't strictly speaking need to do it.

Apparently, once you start winning you just keep winning.

Also being poor is expensive.

[OWZ1337]

https://twitter.com/bitpay/status/941769498742394880

Bitpay goes Bcash.

No effort for Segwit. Them Bitmain shekels are powerful.

All into BeeCash? :-D wow

[realr0ach]

So the pareto distribution is fucking hax, you know?

Back in the bad old days before bitcoin, I had no money and made no money.

Now I have money and I use that money to make more money. Just made about $300 shuffling money around. That's like two days worth of hard work for low end jobs. Actual effort expended today, about an hour. And a bit of chatting people up which I frankly don't include under the banner of "work" since it's an excuse for me to ramble.

Today was a slow day.

And this is just a side income compared to, uh, sitting back and watching the price go up. I don't strictly speaking need to do it.

Apparently, once you start winning you just keep winning.

Also being poor is expensive.

More like the system was designed to penalize people who actually produce something while rewarding people who produce nothing (aka jewish money changers).  So you've discovered that emulating a jewish money changer is the most productive use of your time...until everyone does it and the system collapses from peak financialization scam bubble.  Then physical metals win because they're the most scam resistant.

[Emelectrol]

looks like bcash will overtake btc soon enough

What's up? someone farted?

[Ibian]

So the pareto distribution is fucking hax, you know?

Back in the bad old days before bitcoin, I had no money and made no money.

Now I have money and I use that money to make more money. Just made about $300 shuffling money around. That's like two days worth of hard work for low end jobs. Actual effort expended today, about an hour. And a bit of chatting people up which I frankly don't include under the banner of "work" since it's an excuse for me to ramble.

Today was a slow day.

And this is just a side income compared to, uh, sitting back and watching the price go up. I don't strictly speaking need to do it.

Apparently, once you start winning you just keep winning.

Also being poor is expensive.

More like the system was designed to penalize people who actually produce something while rewarding people who produce nothing (aka jewish money changers).  So you've discovered that emulating a jewish money changer is the most productive use of your time...until everyone does it and the system collapses from peak financialization scams.

You can't unsnort your drugs dude. You dun goofed, get over it.

The pareto distribution also works the other way. When you fuck up, and actively decide to keep fucking up, then you just keep losing. It's a choice.

[OWZ1337]

Roger Ver pumping his dogshit coin on CNBC meh maybe the big bankers are doubling down on BeeCash? :-D weeeee

[Ibian]

Roger Ver pumping his dogshit coin on CNBC meh maybe the big bankers are banking on BeeCash :-D weeeee

Naw, they are just trying to undermine confidence in bitcoin as a concept.

[Gab0]

I'm getting pretty tired of all this failure.   

but ... it really is a failure. Bitcoin is giving away its network effect, which is reflected in its market dominance. The network effect of a currency, of a payment method, is much larger and stronger than that of an investment, and bitcoin is losing the network effect. Bitcoin may continue to rise, but it is a purely speculative increase, since it is not based on cases of real use. Today bitcoin is only useful in speculative terms, since it is very expensive to transfer it.

We are all happy that the price increases, but if you move away a bit, the bigger picture shows that bitcoin is not doing it all right.

I've been thinking about your argument that the network should only incorporate well-tested updates and changes and testing. It's true, but ... this is a problem that Gavin Andresen in 2013 began to discuss, and nobody in the Core group took it into account, and today, here we are, with 50% of market dominance and paying fees of $ 20. The current development group has had enough time to deal with the problem and have shown their incompetence.
Neither did they themselves expect the rates to reach these prices, and here we are.