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

[Last of the V8s]

"TL;DR, for our dear readers who can't make heads or tails of this novelty: Bitcoin is as good as gold, shinier than lead, bubblier than tulips, held deep in the mines, and driving people nuts. Gold has enriched adventurers and bitcoin has held fools to ransom. You may dive in a pool of gold, but lose it all at war. Strangely, while you can still buy gold today and forget about it until your great-grandchildren cash it out, the much-hyped "future of money" has turned into the most speculative intangible asset of all time, while proving totally unsuitable as a means of payment. Still, over 2017 at least, bitcoin would have been a better investment than Tesla stock."
says site owned by pedophile Jimmy Wales
https://en.wikipedia.org/wiki/Wikipedia:Annual_Top_50_Report

[fluidjax]

everyone is free to fork off with their new and improved bitcoin instead of whining and bitching here to no end.

I don't think anyone doesn't understand that.
The point is, how do we reach agreement, not what to do if we can't agree.

we who? agree on what? bitcoin is the bitcoin currently bought and sold at $16K by those who vote by putting their coins/money where their mouth is. Those who disagree/don't like the product have infinite alternatives, including doing their own thing.

I'm not disputing anything you've just said. To change the system (ie. fork it) we, thats all the stake holders, need to reach some sort of consensus. If there are enough people not in the consensus, they will probably refuse to fork and continue the existing chain, and thats where the problem will be.
The more the significant players in Bitcoin fork from each other the weaker it becomes, until we are left with a million different Bitcoins, one for every little group.
 

[JimboToronto]

Good morning Bitcoinland.

I see we've held most of yesterday's gains... currently $16908USD/$20988CAD (Bitcoinaverage).

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

Do we see $20k before the end of the month?

[keyboard warrior]

Good morning Bitcoinland.

I see we've held most of yesterday's gains... currently $16908USD/$20988CAD (Bitcoinaverage).

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

Do we see $20k before the end of the month?

It might be close call, some years there were pumps in late January or early February. My guess is just before, or just after the end of the month.

[bitcoinPsycho]

Good morning Bitcoinland.

I see we've held most of yesterday's gains... currently $16908USD/$20988CAD (Bitcoinaverage).

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

Do we see $20k before the end of the month?

It might be close call, some years there were pumps in late January or early February. My guess is just before, or just after the end of the month.

I need it to hit $24999 on the 10th jan

[keyboard warrior]

Good morning Bitcoinland.

I see we've held most of yesterday's gains... currently $16908USD/$20988CAD (Bitcoinaverage).

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

Do we see $20k before the end of the month?

It might be close call, some years there were pumps in late January or early February. My guess is just before, or just after the end of the month.

I need it to hit $24999 on the 10th jan

In that case it will probably drop to $14999 on the 10th jan. If you didn't need it, then it would probably pump.

[bitcoinPsycho]

Good morning Bitcoinland.

I see we've held most of yesterday's gains... currently $16908USD/$20988CAD (Bitcoinaverage).

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

Do we see $20k before the end of the month?

It might be close call, some years there were pumps in late January or early February. My guess is just before, or just after the end of the month.

I need it to hit $24999 on the 10th jan

In that case it will probably drop to $14999 on the 10th jan. If you didn't need it, then it would probably pump.

Yeah I no . would be nice to win the comp thou

[cAPSLOCK]

I do not consider increasing blocks a good solution. It does not scale while the negative consequences for decentralisation are unclear. Since Bitcoin’s only true value lies in ‘decentralisation’, I support not hastily moving away from this core concept just to solve a current - perceived as immediate - issue. There is too much at stake.

Yes.  Yes.  A thousand times, yes.

If people could realize than layer 2 is not an optional path, they would also realize that moving towards layer 2 is far more important than easing the current block size constraint.

Layer 2 will ALWAYS be optional for the individual.  It is an absolute certainty for the whole ecosystem.

[d_eddie]

A major thing people forget when simply saying we need a small block size increase, is that it requires a HARD FORK.
This means that a whole bunch of people with 100,000's of Bitcoins are going to be pissed. MP & his group for one. Probably a number of others.

These people, along with many others will probably continue the existing chain, claiming it is the real Bitcoin. (Just like BClashic but much worse).
Imagine the damage that is going to do to Bitcoin, we must have  an overwhelming consensus otherwise it's going to be a clusterfuck!

Clap, clap. The blocks will get bigger when they will. Let's turn our heads to the real alternative solutions. The pot is on the fire, soon dinner's gonna be served. Let's just get the big actors to come along ASAP.

Hello, Coinbase? Hello? Anybody in there?

[d_eddie]

Another yummy snippet from fluidjax.

Total ban on mining in China..
A slow orderly exit is planned - apparently confirmed by Jihan (by Cryptovenus)

https://twitter.com/cryptovenus/status/949405526315716608

The BTC market should see this in a positive way, but there is no accounting for stupidity.
The will force chinese miners to relocate and spread out geographically, and also cause them higher electricity costs, which will allow more competition.

If this is confirmed, it's quite an important piece of news.
I also see this as quite bullish. Never forget: the freedom that comes with decentralization is Bitcoin's main asset.

By the way, this appears more plausible than the customary quarterly "China bans bitcoin" FUD items. There's no FUD context (or necessity) this time, so it does look different.

[cAPSLOCK]

I can admit that, if this was an enterprise, the blocksize increase would have come first as a temporary fix whilst the real scaling solution (LN) was being finishing development/tests/deployment/adoption etc... But it is not... decentralization has its pros and cons.

This is a key thought.  We have not really had the crypto go-live yet.  We are still in the testing phase.  Those of us in this community buying Christmas gifts with purse.io and planning our yacht purchases do not live in the real world where crypto is still only magic internet money.

Thing is... there can never be a hard go-live date.  It is happening little by little over time.  This *is* going to make most "enterprise" production systems look like tiddly-winks.

We will NEVER have a better time than now to implement the needed scaling solutions to serve 7 (8, 9 10) billion people.

The current transaction fees are growth pains on the way to a new world.  

No one said it would be easy.

[Torque]

"TL;DR, for our dear readers who can't make heads or tails of this novelty: Bitcoin is as good as gold, shinier than lead, bubblier than tulips, held deep in the mines, and driving people nuts. Gold has enriched adventurers and bitcoin has held fools to ransom. You may dive in a pool of gold, but lose it all at war. Strangely, while you can still buy gold today and forget about it until your great-grandchildren cash it out, the much-hyped "future of money" has turned into the most speculative intangible asset of all time, while proving totally unsuitable as a means of payment. Still, over 2017 at least, bitcoin would have been a better investment than Tesla stock."
says site owned by pedophile Jimmy Wales
https://en.wikipedia.org/wiki/Wikipedia:Annual_Top_50_Report

His list lost me @ The Last Jedi comment:
"It wasn't terrific, but it wasn't terrible..."

No it wasn't terrific. As a stand alone movie alone it WAS terrible, a complete mess. As a Star Wars movie though, it was a fkn abomination and complete disgrace to the franchise. It jumped the shark in every way imaginable.

[Last of the V8s]

disgrace upon disgrace^

meanwhile: http://moonmath.win/

[tronic1704]

New Sell-Attack?

[vapourminer]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

[d_eddie]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

Unsplit BTC still with a BCH, and possibly other forkcoins, inside.

[jojo69]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

untouched old wallet addresses with all the forks still intact

ie. BTC+BCH+BTG+etc etc

[Torque]

This is a key thought.  We have not really had the crypto go-live yet.  We are still in the testing phase.  Those of us in this community buying Christmas gifts with purse.io and planning our yacht purchases do not live in the real world where crypto is still only magic internet money.

And yet there's this little bit of rational honesty, that we should all recognize and discard the fairy-tale fallacies.
https://twitter.com/danheld/status/949423269886664704

Which is why Bitcoin should be considered a decentralized, deflationary crypto asset like digital gold, that also happens to be exchangeable for goods and services like a currency. Notice I said "like a currency" because it is clear that that attribute is not its primary function nor its strength.

The word "crytocurrency" is a complete misnomer. It should have been called a "cryptoasset" from the beginning.

[vapourminer]

Old coins are now worth $19951USD/$24766CAD (Coinmarketcap).

ok searched a bit and i still cant figure out what this means.. what are "old coins" and why are they worth more?

untouched old wallet addresses with all the forks still intact

ie. BTC+BCH+BTG+etc etc

thanks. i still have a few from 2012 or so on paper wallets that still have the extra goodies in them then.

[sirazimuth]

Which is why Bitcoin should be considered a decentralized, deflationary crypto asset like digital gold, that also happens to be exchangeable for goods and services like a currency. Notice I said "like a currency" because it is clear that that attribute is not its primary function nor its strength.

 uh-oh...
you mentioned bitcoin and currency in the same post...
cue you-know-who with with those you-know-what type comments in 3...2...