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

[realr0ach]

I turned your "lets buy IOTA" bad idea into a full r0ach report that also explains why bitcoin fails in practice.

The r0ach report 27: No, DAGs (IOTA + Byteball) are not useful, and Bitcoin so called "triple entry accounting" isn't real

http://steemit.com/bitcoin/@r0achtheunsavory/the-r0ach-report-27-no-dags-iota-byteball-are-not-useful-and-bitcoin-so-called-triple-entry-accounting-isn-t-real

[Rosewater Foundation]

From Kraken's announcement:

Remember that if you are publicly advertising your involvement with cryptocurrencies, you are making yourself a target.

Be extra careful guys! We don't want a $5 wrench unlocking our wallets!

I'm just sitting here waiting to be kidnapped by thugs. It's bound to happen.

Here's a nice Swedish company that will make you feel safe in your home. They will definitely be building my next home.
http://www.sakrahus.com/Default.aspx?smlang=ENG

I'm hoping for a huge correction this weekend. If I'm worth less maybe they'll just rob a bank like a normal person.

[jojo69]

I'm hoping for a huge correction this weekend. If I'm worth less maybe they'll just rob a bank like a normal person.

In capitalist America...bank robs you.

[xhomerx10]

https://www.technologyreview.com/s/609408/quantum-computers-pose-imminent-threat-to-bitcoin-security/

 

BTCBTC#quantumattack

 

[infofront]

Very sad development.

Former Verizon lawyer and current FCC chairman Ajit Pai openly mocking Net Neutrality proponents concerns.

https://youtu.be/79nQqqbrXxg

Dude has the most punchable face I have seen in a long time.

Yes he does. It's not over yet though, it will likely head to court.

Also for the record, there are plenty of Americans on all sides (conservatives, liberals, and libertarians) that are really pissed about repeal of net neutrality.  It's a slippery slope that will only lead to unfair practices.

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/

[STT]

I'm hoping for a huge correction this weekend. If I'm worth less maybe they'll just rob a bank like a normal person.

In capitalist America...bank robs you.

If USA was capitalist like it was previously those banks would return their assets to bond holders and creditors like a normal bankruptcy system has operated for hundreds of years.    Not heard of the mainstream to label it as much but 2008 was a bell toll for the fall of capitalism, not because banks make mistakes and fail but because the law was changed to no longer respect capitalism.

Just like the law formerly outlawed the activies of the Federal reserve in order to avoid the devaluation of the dollar like they celebrating doing now.   No part of QE has been reversed, the only reasonable conclusion is the experiment was a failure just like its failed in Japan.  So not much surprise then, its not capitalism its politics doesnt really matter on the label beyond that.    Nobody is willing to dispute as they are all mostly funded by government, obviously education is paid off by Federal debt.

Anyone in crypto knows dollar doesnt work or the mistakes of bitcoin would matter more, I fear too many mistakes are forgiven because it works anyway just like people ignore dollar failure.    Dollar is bailed out continually on the backs of tax payers but crypto has to be far more careful or it'll destroy itself.   Every economy destroys itself is one fatalistic conclusion

$15,713 shows a candle low a few times, 261% of the November end sell off top.   BTC appears to be quite capable of further gains.   A proper sell off point and return to norm for the year would 11,441   always good to have a target downside to rebuy considering theres always some news

[HairyMaclairy]

Warrant canaries gone from Bitfinex.

[Lopumbo]

so lets assume BTC hits 1mill$ someday and LN is there to save us, do i have to pay 2000$ to open a channel?

tether

[realr0ach]

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.

[gentlemand]

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

Bitpay goes Bcash.

No effort for Segwit. Them Bitmain shekels are powerful.

[STT]

^^ 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.

[gentlemand]

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.

They've done nothing to implement Segwit which for all we know might clear up fees completely right now if fully rolled out. Bitmain is in bed with them. That says it all.

[Rosewater Foundation]

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.

They've done nothing to implement Segwit which for all we know might clear up fees completely right now if fully rolled out. Bitmain is in bed with them. That says it all.

Useless company. Can't even manage a debit card.

[jojo69]

I'm getting pretty tired of all this failure.   

[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