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

[bitserve]

This thread has turned into a bunch of zombies that make believe the price can only go up 1000% per year.  Does anyone care that bitcoin is completely centralized?  No.  Does anyone care that bitcoin doesn't actually function as some type of transactional currency and it's only real function is a crowd sourced pump and dump?  Not really.

Will you have some patience? It looks like LN is (FINALLY) coming soon enough.

If you can't, then just sell! And go on to other more productive things for you.

[ivomm]

Remember everyone. The end game of all of this fud, shit coin pump and dump, mempool spam, forks, and now empty blocks, is to separate you from your bitcoin. It would take a team of full time employees to keep track of all the shit. If you don't have a team of full time employees, the only move here is to hodl. Don't let them have YOUR bitcoin. Make them pay for it at a premium. Stop thinking so small! Take a year off. This is a long game. 4 years is nothing in the grand scheme of things. Relax, forget about bitcoin, go back to work, come back in a year.

^^^^^^

I hope in 2018 we will see prices with 6 digits! In the worst case scenario,  the 20K will be revisited for sure. HODL!

[bitcoinPsycho]

This thread has turned into a bunch of zombies that make believe the price can only go up 1000% per year.  Does anyone care that bitcoin is completely centralized?  No.  Does anyone care that bitcoin doesn't actually function as some type of transactional currency and it's only real function is a crowd sourced pump and dump?  Not really.  For all intents and purposes, bitcoin can be replaced with a stock ticker on the NYSE called "widgets" that have no type of use besides having a finite amount.

I for one dont give a fuck. why you here? did you sell all your btc for silver? when it hits $100000 you will still be complaining.  roll on the next 1000% rise .

[realr0ach]

Will you have some patience? It looks like LN is coming soon enough.

You cannot be serious.  Do you actually know what LN is?  I'll tell you what it is.  LN is nothing more than establishing bitcoin banks on top of the blockchain.  All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system.  The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.  

The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them.  This is how crony capitalism works.  You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.

Nevermind the fact LN doesn't function in a decentralized manner in the first place.  There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers.  There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.  I wrote more on why LN is unworkable on the technical side here:

https://bitcointalk.org/index.php?topic=178336.msg26860586#msg26860586

[realr0ach]

Does anyone care that bitcoin is completely centralized?  No.

I for one dont give a fuck. why you here?

To stop the bugmen cucks from cheerleading some completely centralized govt tracking system obviously.  There is no defeating the jew bankers using bitcoin.  The bankers love you buying this garbage.  The only thing the bankers are afraid of is people buying physical metals.

[bitcoinPsycho]

Does anyone care that bitcoin is completely centralized?  No.

I for one dont give a fuck. why you here?

To stop the bugmen cucks from cheerleading some completely centralized govt tracking system obviously.  There is no defeating the jew bankers using bitcoin.  The bankers love you buying this garbage.  The only thing the bankers are afraid of is people buying physical metals.

your so funny
buy sand cus it's not held by banks and it's decentralized sand is the future

[realr0ach]

When LN is going to be a complete trojan horse (as I explained in my post on the previous page), why would the bankers NOT want you to buy bitcoin?  Whether cockstream is in on the scheme and doing this on purpose or they're somehow delusional and don't know what's going to happen is the only question.  It's possible they drank too much Antonopolous koolaid and don't even understand it's not possible to create a decentralized digital currency in the first place, only centralized ones.

[ivomm]

At 13300 someone sold 700 BTC on bitfinex down to 12768. Sells like this are highly suspicious and quite often in the last 2 weeks. I am convinced that the xrp company is behind the last attack just like Ver and sockpuppets did before that. This was prepared months ago by gathering hundred of thousands BTC, then sell each time it starts rising. In the meantime they buy of their own offers (mostly) to continue the pump. Fortunately, BTC has only several millions coins in circulation, so this manipulation can't continue longer than few weeks. Hodlers know this and won't fall for their satanic rituals  

[bitserve]

Will you have some patience? It looks like LN is coming soon enough.

You cannot be serious.  Do you actually know what LN is?  I'll tell you what it is.  LN is nothing more than establishing bitcoin banks on top of the blockchain.  All of the exact same regulation traditional banks have will be applied to them and bitcoin will be virtually identical to your current banking system.  The only reason it hasn't happened yet is because it's too difficult for them to play whack-a-mole with regulating miners, but the LN "nodes" aka banks are less ambiguous in nature and will be regulated to infinity just like any normal financial services provider or bank.  

The costs, compliance, and amount of lawyers needed will be so high only entities like JP Morgan and Goldman Sachs will run them.  This is how crony capitalism works.  You introduce regulation with compliance requirements and fees so high that only your existing monopoly can participate while all small competitors are eliminated.

Nevermind the fact LN doesn't function in a decentralized manner in the first place.  There is also ZERO incentive for LN nodes aka banks to broadcast transactions to external peers.  There is actually incentive for these bitcoin banks to FORCE a hub and spoke model or cartel collective in order to hold their users hostage for usury fees (just like regular banks do). There's also nothing that stops them from changing usage of bitcoin as settlement to ripple, US dollars, or anything else.  I wrote more on why LN is unworkable on the technical side here:

https://bitcointalk.org/index.php?topic=178336.msg26860586#msg26860586

I am completely serious. The trees aren't letting you see the forest behind. Yes, LN in its first phase might introduce some sort of "centralization" in that a hub and spoke model will be easier, cheaper and faster to deploy. But:

1- We are talking about L2. I wouldn't have any problem in additional layers more or less de/centralised. You shouldn't too, as they are all optional... just additional layers!

2- That's just at its first stage. It won't be that hard to evolve into a more decentralized structure some time later.

3- Rerouting a big amount of tx's to those (maybe) more "centralised" layers will free up more "space" for direct blockchain tx's.

... And, above all, it will be the best digital payment system ever known to man... Invest now, wait for it, and then fucking sell all your BTC for more shiny metals if that's your thing. Do you have some ethical (or mental) problem getting profits for your investments? No wonder you hate Jews so much. They don't fucking care about all those irrelevant details.

[gentlemand]

I am completely serious.

Why are you bothering to engage this nothing? In the time you wrote that you could've saved a life or invented cold fusion.

[Wekkel]

it will be the best digital payment system ever known to man...

On that note, I foresee that exchanges will morph into banks (or banks morph into or move towards exchange functions) creating payment gateways on top of cryptocurrency systems and also cryptocurrency card providers slowly but surely building up a secondary payment layer, first between users of the same card (Monaco is going to offer this), later between cryptocurrency credit card providers themselves.

But the option to work outside of all these additional layers remains. That is the power of it all.

[bitserve]

I am completely serious.

Why are you bothering to engage this nothing? In the time you wrote that you could've saved a life or invented cold fusion.

Ohh, yeah, I felt on the trap again. Sorry.

[d_eddie]

I am completely serious.

Why are you bothering to engage this nothing? In the time you wrote that you could've saved a life or invented cold fusion.

Ohh, yeah, I felt on the trap again. Sorry.

Don't worry. He needs some attention, too. It's New Year, let's be good.
Besides, he's good against intruders (inJEWders?). Woof. Woof.

[El duderino_]

Interesting that the majority feels price will be at 20-22k by the 31st....

I'm still calling $20000 by new year

that would be one CRAZY run      if this happens i would almost say to eat my own dick

John MaCafee!  Is that you?

Aaah Thats good thinking who know’s :-)

[yefi]

Lee Nak-yeon expressed concerns over Korea’s bitcoin craze, warning  that “young people and students are rushing into virtual currency trading to earn huge profits in just a short period of time,” and that “it is time for the government to take action as it could lead to serious pathological phenomena if left unchecked" forcing young people into illegal activities like drug dealing.

Oh yes I came here just for trading but then was forced into using the drugs.  Thats how it works.

It's real. One day I was at my desk happily trading on Trex, the next I was carrying bags of cocaine in my rectum.

[jbreher]

The vast majority of thread participants herein would have never bought such a stupid dumbass centralized manipulated coin,

While they may not have bought it, they may have received it. Anyone who asked got 20,000 XRP back in the day.

Really? 

You are trying to assert that these coins were "free" and/or fairly distributed based on some kind of "ask" scenario? 

You really believe your own bullshit half the time?

A little holiday greeting:  Get the fuck out of here, picnic food eating bear dude.. (     ) 

Get over yourself JJG - your noobishness is on full display.

Yes indeed, 20,000 XRP were given to anyone who provided a Ripple address to which said XRP could be sent. True story.

How could this be about me?

You are such a distraction with your off topic pursuits.  Making me feel like this:   

The attentive reader will note that JJG was discussing Ripple in this branch of this thread before I.

[jbreher]

All the bugmen who were worshipping these completely centralized cuckchains seemed to have stopped talking about lambos and are now trying to find someone to give them a used Evinrude bass boat motor for a bitcoin.

I don't care who ya are - dat dere's funny.

[conspirosphere.tk]

It's real. One day I was at my desk happily trading on Trex, the next I was carrying bags of cocaine in my rectum.

it's because one has to be heavily inebriated to play in the alts markets.

[lightfoot]

your so funny
buy sand cus it's not held by banks and it's decentralized sand is the future

Indeed. Sand is a key strategic material, it's the main component of egg timers, which as we all know are a central component of trivial pursuit games....

Damn Arabs are sitting on a gold mine, not oil, but SAND!

(remembers the sand shortages due to big screen tube TV's. Boy that fixed itself......)

Anyway on to Bitcoin, still sitting around 13100 I see. Will be interesting to see if things go up in 2018...

C

[bones261]

Block #501853
A new one, but the "unknown" miner only sacrifices only the Tx fee this time.
Number Of Transactions = 1
Transaction Fees   0 BTC

https://blockchain.info/block-height/501853

Viable attack to use when the blockchain is already backlogged with txs?
Somebody needs to start working on a fix.
Hoping it isn't a viable attack in the long term.
Cant keep sacrificing 12.5 BTC unless there is a bigger end game. But can keep sacrificing  fees for keeping the mining fee higher for longer.
Have a bad feeling about this. Mostly the timing. Already a bit too down on price and might end up testing long term support levels .Hope its nothing.

This is just a standard empty block being mined. The block was mined in less than a minute after the last solved block. This is not an attack but pretty standard. Many pools mine empty blocks while they validate the last block. Before they can start including tx, they need to know which transactions in their mempool are already included in the last block. Rather than experience downtime, many pools elect to mine empty blocks during the validation period.