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

[somac.]

It's 'bout fkn time:

https://twitter.com/brian_armstrong/status/951869357931425792

I guess it only took a signed petition and threats of a Coinbase boycott for this genius to figure it out. 

Hells yeah, I was getting really pissed at these arseholes. Maybe they have decided to stop biting the hand that feeds them. These pricks should be doing everything to support BTC, not trying to ruin it out of some kind of childish spite. I hope their attitude is changing.

[HairyMaclairy]

I know this is off topic, but it appears someone spammed the BCH mempool, recently. It appears some of the pools are electing to only mine 1MB blocks, others 2MB blocks and a couple the full 8 MB blocks.  

https://cash.coin.dance/blocks
https://jochen-hoenicke.de/queue/cash/#24h

What's the point of having big blocks when one of the mystery miners will only mine 1MB blocks?

Let’s start a campaign for bigger Bcash blocks.

Somac:  don’t bet on it.  They are crooks.

[jojo69]

Let’s start a campaign for bigger Bcash blocks.

why even have a limit?  let's put pornhub on the blockchain

[bones261]

It's 'bout fkn time:

https://twitter.com/brian_armstrong/status/951869357931425792

I guess it only took a signed petition and threats of a Coinbase boycott for this genius to figure it out. 

Hells yeah, I was getting really pissed at these arseholes. Maybe they have decided to stop biting the hand that feeds them. These pricks should be doing everything to support BTC, not trying to ruin it out of some kind of childish spite. I hope their attitude is changing.

It's probably self preservation. Their poor UTXO managment has rendered many of their inputs as basically unspendable.

[HairyMaclairy]

Let’s start a campaign for bigger Bcash blocks.

why even have a limit?  let's put pornhub on the blockchain

Raiblocks are free. Let’s put YouTube on Rai.

[somac.]

Somac:  don’t bet on it.  They are crooks.

Yeah, I do see they didn't mention a date of implementation.

It's probably self preservation. Their poor UTXO managment has rendered many of their inputs as basically unspendable.

What ever the reason, it will help.

[AlexGR]

I know this is off topic, but it appears someone spammed the BCH mempool, recently. It appears some of the pools are electing to only mine 1MB blocks, others 2MB blocks and a couple the full 8 MB blocks.  

https://cash.coin.dance/blocks
https://jochen-hoenicke.de/queue/cash/#24h

What's the point of having big blocks when one of the mystery miners will only mine 1MB blocks?

Lol... with 50-250$ you can fill a BCH block (from 2 to 8mb) with spam...

https://i.imgur.com/dI2BTQX.png

Not unexpected really...

[bonipper]

Let’s start a campaign for bigger Bcash blocks.

why even have a limit?  let's put pornhub on the blockchain

Spank coin's already doing it.

[bones261]

Let’s start a campaign for bigger Bcash blocks.

why even have a limit?  let's put pornhub on the blockchain

I can't seem to find the web page that will help me construct transactions with text and picture. Anyone have the link?

[OWZ1337]

Let’s start a campaign for bigger Bcash blocks.

why even have a limit?  let's put pornhub on the blockchain

I can't seem to find the web page that will help me construct transactions with text and picture. Anyone have the link?

 

[jojo69]

I can't seem to find the web page that will help me construct transactions with text and picture. Anyone have the link?

OMFG  for like $270/block?  make it so!  I'll do the first 4 blocks myself I swear to god

[HairyMaclairy]

Finally the attempt at the weekend dump.  Well behind schedule.

Let’s see if it can get anywhere. 

[yefi]

I thought $10k was the top and expected a crash back down to $7k. It really freaked me out when it relentlessly kept pumping up to $20k.

Since then the exchanges freezing new registrations have made it glaringly obvious how many newbies are buying in. With that much new money coming in I doubt bitcoin will have a big crash.

I'm inclined to agree with your view that it will go sideways while the newbies use it to buy alts. Maybe in a few months we will see another pump.

I'd call that a false sense of security. It is not when alone that you should be fearful, but when your numbers throng.

[jojo69]

Finally the attempt at the weekend dump.  Well behind schedule.

Let’s see if it can get anywhere. 

yeah, I would be fairly confident about getting filled around 13300, but I am feeling greedy and am set up around 11000

[bonipper]

I thought $10k was the top and expected a crash back down to $7k. It really freaked me out when it relentlessly kept pumping up to $20k.

Since then the exchanges freezing new registrations have made it glaringly obvious how many newbies are buying in. With that much new money coming in I doubt bitcoin will have a big crash.

I'm inclined to agree with your view that it will go sideways while the newbies use it to buy alts. Maybe in a few months we will see another pump.

I'd call that a false sense of security. It is not when alone that you should be fearful, but when your numbers throng.

I didn't expect $20k, so maybe it will crash as I don't expect a crash. On the other hand there are an awful lot of new people throwing money around, so maybe it won't.

Also there are thronging numbers of the bearish anticipating a crash.

Finally the attempt at the weekend dump.  Well behind schedule.

Let’s see if it can get anywhere.  

yeah, I would be fairly confident about getting filled around 13300, but I am feeling greedy and am set up around 11000

[muadib83]

As I predicted people stay on alts so  they will regret it ;P BTC or nothing - learn the crypto market. Market won't last without bitcoin dominance and big volume

[TERA2]

Random Anecdote - 1%'er Edition: Recently wired $500k from an exchange from the sale I did @ $14.5k to one of my financial institutions, and ran into a bit of a snag.

I was looking to wire that $500k to another financial institution that is setting up my retirement package/plan.

Turns out financial institution that I wired the funds to initially, only allows $100k wire transfers out, per day.

"Sheeit."

So I type up a nice pleasant message to customer service, and CC my account manager, and am all like "Howdy folks. I'm preparing for retirement, and going to be moving a lot of money around ahead of that. Can I have my transfer limits increased to $1M per day ?"

Few hours later, I get back a really freaking super chill and nice response back from customer service essentially saying "Hey Bob. First off thanks for being such a great customer for such a long time and trusting us with your fiatcoin. We looked over your account, and yeah bro, $100k is the limit for online stuff. You can walk into any branch and have them do the full wire transfer for you in one go. We just can't do that shit online for security, and stuff, yo."

Duh.

I'll visit the branch on Tuesday and have 'em just wire out the full amount to my other institution.

Banking is such a silly thing.

Biggest problem with Bitcoin is always its interaction with fiatcoin.

Poloniex has withdrawal limits and then dont use fiat (although they base the limits on coinbase's fiat prices).

[TERA2]

When I took the garbage out today I hate to wait for the dump truck to finish emptying the dumpster. It's the first time I saw it standing 10 feet away. It's funny how the world gives you clues.

[LewisPirenne]

I know this is off topic, but it appears someone spammed the BCH mempool, recently. It appears some of the pools are electing to only mine 1MB blocks, others 2MB blocks and a couple the full 8 MB blocks.  

https://cash.coin.dance/blocks
https://jochen-hoenicke.de/queue/cash/#24h

What's the point of having big blocks when one of the mystery miners will only mine 1MB blocks?

That 35K BTC whale is still sending out huge batches of "spams" to BTC chain since Dec. 20, 2017.  You know that's the day when Coinbase decided to list BCH in the middle of night with nothing more than a twit and 1 hour notice on blog, and a certain someone go on CNBC and said that BTC is useless and people should keep their BTC on exchange just in case that miner decides to switch off on mass, and satoshilite decides to twit that he had sold all his LTC holdings, and of course that is also the start of correction from 19K+.  

I guess someone had finally decided that everyone can play the same game, except that instead of costing that 35K whale around 500K~1.5 mio fiatcoin per day to "stress-test" the BTC network, it actually cost zilch to do the same to even 8 MB chain.  Ironically, over 2K BTC fee spent so far on stress-testing actually make the fee market and BTC tx count look far better than it really is.  It didn't do jack to the "true vision of Satoshi" chain except to make people "fee arbitrage" to ETH and XRP, with some to LTC.  

Of course, at the current burn rate, that 35K BTC whale can keep this up for more than a year if he doesn't mind blowing away all those BTC on fees.  Even then, it is still possible to pay nominal tx fees and then pay those "out of band" fee via fiatcoin to various mining pool accelerators to take up space in the next block.  So people can play this war of attrition as long as they have the BTC, fiat, and willingness to do so.  But in the end, I suspect that it is still going to do jack, not getting even some personal satisfaction or schadenfreude from all these money that could have been simply used to pump own ALT coin.  

[HairyMaclairy]

massive dump

$14,200 / $ 13,500 = 5.1% at time of post