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

[ragnar0k]

and worst of all speaking as the core team is the "CEO" of bitcoin.

Bitcoin was made by developers, and for developers. You used a developer (Satoshi) as an example to shill for a coin where non-developers speak for the community. Great step to politicize cryptos! Because developers are useless and they need a manager... Typical corporate mentality

The core team, unlike the tree or two people calling the shots for bcash, are hundreds of developers working for *free* vs just a handful. You speak in total disrespect of opensource as such...

[Lopumbo]

The core team, unlike the tree or two people calling the shots for bcash, are hundreds of developers working for *free* vs just a handful. You speak in total disrespect of opensource as such...

Thats where you're wrong kiddo. Look at the github and filter those developers which did more than 1 commit and did not just changed a typo...you're left with basically 5-10 persons

[realr0ach]

The core team, unlike the tree or two people calling the shots for bcash, are hundreds of developers working for *free* vs just a handful. You speak in total disrespect of opensource as such...

Thats where you're wrong kiddo. Look at the github and filter those developers which did more than 1 commit and did not just changed a type...you're left with basically 5-10 persons

Most non-noobs know that Wladimir does all the heavy lifting of bitcoin but keeps virtually no public face or comments about any important issues.  I do not like this arrangement as he should be forced to comment on issues like decentralization instead of just PRETENDING a completely centralized system is decentralized.  The only person with even a fraction of power in bitcoin that has made ANY skeptical comment about it's fundamentals in the last several years is Peter Todd.  Everyone else is just like "YES, LET'S PUMP AND DUMP THIS CENTRALIZED GOVT TRACKING SYSTEM TO THE MOON".

[pops87]

There's only one bitcoin, fool. And it sure isn't Bcash.

Well, it sure as shit isn't BCore either in the current state.    

$43 dollar fees are NOT the future... you're the fool if you believe so.

10% segwit adoption is the reality and LN coming up.

[d_eddie]

The core team, unlike the tree or two people calling the shots for bcash, are hundreds of developers working for *free* vs just a handful. You speak in total disrespect of opensource as such...

Thats where you're wrong kiddo. Look at the github and filter those developers which did more than 1 commit and did not just changed a typo...you're left with basically 5-10 persons

And you, try and take a look at the other github.

[HairyMaclairy]

The core team, unlike the tree or two people calling the shots for bcash, are hundreds of developers working for *free* vs just a handful. You speak in total disrespect of opensource as such...

Thats where you're wrong kiddo. Look at the github and filter those developers which did more than 1 commit and did not just changed a typo...you're left with basically 5-10 persons

There are only about 5 people with commit rights to Bitcoin, with hundreds of developers contributing.

The difference is Bitcoin has hundreds of thousands of nodes that enforce consensus. A bad commit will go nowhere and the system will continue to run perfectly while the bad actor has his commit rights removed.

Bcash is controlled by a single person and has almost zero independent nodes.   It is wholly centralized and can be taken out by the Chinese government at any moment.  I don’t know how you sleep at night knowing the Chinese government can whisk away your coins any time it pleases. 

[realr0ach]

I don’t know how you sleep at night knowing the Chinese government can whisk away your coins any time it pleases.  

Stop shilling, that's BOTH BTC and BCH chains, or any sha256d chain for these completely centralized systems.

[JayJuanGee]

First of all, there is no perfect competition. Some businesses will always gain an edge. As happens over and over again, an oligarchy is eventually formed. If left unchecked, a cartel is then formed. Then the cartel can charge whatever price the market will bear. For some products and services, this price is quite high indeed. As can be seen from the current tx market with Bitcoin, the cost people are willing to expend on a transaction is quite high. Pennies is not going to be that price. It will be magnitudes of orders higher.

This is actually a good point.  TX fees are extremely high right now because BS/Core has formed a cartel in order to limit the production of block space.  What is confusing (and ironic) is that the miners (those who one would naively suspect to attempt to form a cartel) want the production quota lifted!  So, yes, experience is showing that Bitcoin is somewhat susceptible to cartel formation (it's just surprising that it's cartels of developers rather than cartels of miners).    

Ridiculous. 

That is the narrative that you BIGBLOCKER nut jobs wish people believe while you are engaged in ongoing attacks of the network to cause the higher fees and slower transaction times.

[ragnar0k]

The core team, unlike the tree or two people calling the shots for bcash, are hundreds of developers working for *free* vs just a handful. You speak in total disrespect of opensource as such...

Thats where you're wrong kiddo. Look at the github and filter those developers which did more than 1 commit and did not just changed a typo...you're left with basically 5-10 persons

You just dig your own grave here...
Here are the btc contributors:
https://github.com/bitcoin/bitcoin/graphs/contributors
...And here the bch contributors:
https://github.com/Bitcoin-ABC/bitcoin-abc/graphs/contributors

You might notice that the top contributors are taken over from BTC... That is because they forked.
I can't be arsed to go through which contributor changed, but seems pretty obvious to me that BCH is based mostly on the code written by "incompetent" BTC developers and very little code I can see written by the BCH team...

[orpington]

You forkers are nuttier than a fruit cake. Block space is a resource. You can't just... um... double it.

DING DONG!  The Fork is dead!

Which old fork?

Every damn fork!

DING DONG!  The stupid forks are dead!



Above, right, BlindMayorBitcorn

dude, don't miss out on the ATH game!

[HairyMaclairy]

I don’t know how you sleep at night knowing the Chinese government can whisk away your coins any time it pleases.  

Stop shilling, that's BOTH BTC and BCH chains, or any sha256d chain for these completely centralized systems.

Wrong.  We can live without the Chinese. I run my own full node and can mine if I need to.  The difficulty adjustment would take awhile but we would do fine.

The difference  is that Bcash ARE the Chinese.  

[Lopumbo]

The core team, unlike the tree or two people calling the shots for bcash, are hundreds of developers working for *free* vs just a handful. You speak in total disrespect of opensource as such...

Thats where you're wrong kiddo. Look at the github and filter those developers which did more than 1 commit and did not just changed a typo...you're left with basically 5-10 persons

You just dig your own grave here...
Here are the btc contributors:
https://github.com/bitcoin/bitcoin/graphs/contributors
...And here the bch contributors:
https://github.com/Bitcoin-ABC/bitcoin-abc/graphs/contributors

You might notice that the top contributors are taken over from BTC... That is because they forked.
I can't be arsed to go through which contributor changed, but seems pretty obvious to me that BCH is based mostly on the code written by "incompetent" BTC developers and very little code I can see written by the BCH team...

I have no idea why you guys keep on comparing BTC/BCH like a neverending narrative
I just said, that you have 5-10 developers on core and that the security i.e. mining is as centralized as it can get. Get over it. I don't care about BCH.

[ragnar0k]

You just dig your own grave here...
Here are the btc contributors:
https://github.com/bitcoin/bitcoin/graphs/contributors
...And here the bch contributors:
https://github.com/Bitcoin-ABC/bitcoin-abc/graphs/contributors

You might notice that the top contributors are taken over from BTC... That is because they forked.
I can't be arsed to go through which contributor changed, but seems pretty obvious to me that BCH is based mostly on the code written by "incompetent" BTC developers and very little code I can see written by the BCH team...

I have no idea why you guys keep on comparing BTC/BCH like a neverending narrative
I just said, that you have 5-10 developers on core and that the security i.e. mining is as centralized as it can get. Get over it. I don't care about BCH.

Your point is wrong regardless - just open the contributions page and you'll notice that there is plenty of contributors with more than 500 changes.
The only fact that all those devs take the time to go through the code and change even a typo makes it more secure as it has more eyes on it.

[TERA2]

I have to admit my calls about altcoins are much better than my calls about usd. You could made tremendous profits listening to every one of my altcoins calls including emc, bch at 0.07, and doge when it was still at 20 sat.

[JayJuanGee]

Come on baby, just another 1k up and I can still without taking a loss. Come on bitcoin, be good to me.

Yeah, they painted that fake breakout pretty good.  A lot of folks on the wrong side of that.

Yea, it was really obvious, looking back. This is what I get for trying to actively trade while not sitting at my pc monitoring things. Sure I can trade on stamp from my phone, but it's not a good idea.

Frequently, I get nervous if there is a lot going on to make any trade attempts from my phone.  In those high action scenarios, it is nice to be able to look at several windows at once and even have multiple devices in order to attempt to appreciate some of the dynamics - and even when you can kind of get an appreciation for what is going on, it still can be quite uncertain whether any kind of tweak to a preestablish system would be likely to be more profitable than just sticking with the previous plan (and whatever perceived flaws might be retrospectively appreciated within such previous plan).

[realr0ach]

I have to admit my calls about altcoins are much better than my calls about usd. You could made tremendous profits listening to every one of my altcoins calls including emc, bch at 0.07, and doge when it was still at 20 sat.

Where's the Tether calls?  Tether market cap:  $1.2 BILLION...and rising haha.

WAIT, there's now a TETHER DEFAULT SWAP:

https://www.reddit.com/r/Tether/comments/7lx3bw/introducing_the_tether_default_swap/

[Arriemoller]

Soon, the 300 physical metals, silver spear equipped goyim will put Shlomo Nakamoto's centralized tracking system and his 21 million "immortals" to the test.

You know the Spartans died and Persians won, right?

The Spartans died, but I wouldn't exactly say that Persia won.

[TERA2]

I have to admit my calls about altcoins are much better than my calls about usd. You could made tremendous profits listening to every one of my altcoins calls including emc, bch at 0.07, and doge when it was still at 20 sat.

Where's the Tether calls?

I didn't make any Tether calls. I might have joked "tether to the moon" but I'm scared to death having to hold tethers instead of fiat.

[realr0ach]

I didn't make any Tether calls. I might have joked "tether to the moon" but I'm scared to death having to hold tethers instead of fiat.

The Eth scammers allow you to hedge your tether scam with another scam!

https://www.reddit.com/r/Tether/comments/7lx3bw/introducing_the_tether_default_swap/

[AlcoHoDL]

I'm going to take a stab at explaining why bigger blocks are a bad solution to the vending machine problem.

Eventually ( and SOON(tm)) the demands on the worlds premier blockchain will cause it to be impossible to run fully L1 transactions on pedestrian hardware.  And the more demands we make on the hardware that run full nodes (users and miners), the more we shift that job to the hands of the powerful and rich (mostly the miners).  They will be incentivized to build cartels as the validation of transactions on the network become more and more centralized.  



This recent twitter conversation should give a big blocker pause.  Let's just say Microsoft decides to use the BITCOIN blockchain to handle decentralized identity validation.  If this were to happen we would see possibly tens of MILLIONS of transactions a second.  And this kind of stuff WILL happen.  If the blockchain is to remain uncensored it HAS to.

Anyone care to do the math to see how big the BCH block size would have to be to handle this increase?  Suffice it to say nothing close to 8MB will cut it.  And this smashes Moore's law.  Instantly we need drive space, network bandwidth, and computational power to handle MUCH bigger block sizes.  And the time constant stays the same.  We have to be able to do this in 10 minutes for each block.

Instantly we have a small number of people controlling the Bitcoin network.  Will make a 51% attack a piece of cake among other things.

Making Bitcoin blocks 8MB so you can buy a bag of weed with it (why the HELL are you buying weed using a transparent blockchain by the way?  Use Monero for this?) is like putting a bandaid on a bullet wound.

Sidechains are needed, powerful, and INEVITABLE.  The use of sidechains will not preclude transaction made directly on the base chain.  The real Bitcoin will have all this power soon.  Soon enough, believe it or not...  This is why people are saying to use Litecoin, or Monero until the mempool cools down.

BCASH is part of an planned and orchestrated power grabbing attack on Bitcoin.

There is only one Bitcoin.

Well said.