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

[OWZ1337]

(snip)

(snip)
It's the same concept at the basis of PoW: Working must be hard, checking must be easy. And stay easy.

So what is your point here? Do you assert that farmers in Africa are able to run a fully-validating, non-mining wallet client for BTC are fully able to, but are utterly unable to do so for BCH?

Again! Simplifying things down to 1/0, "fully able"/"utterly unable" is quite below you. It's a matter of degrees. Come on.

I am not a farmer and don't live in Africa, but running a "fully-validating, non-mining wallet client" is possible for me on the BTC chain, albeit not always comfortable bandwidth-wise. It would be nearly impossible for me to do the same on the BCH chain, if the miners would get their shit together and stick to the big blocks they loved so much, rather than jumping wildly from one size to the other.

Today, the BCH chain is less resource intensive than is the BTC chain. Of course, I expect this will change with increasing use of BCH in commerce. Nevertheless, it has been shown that today's typical home computer on a typical home broadband connection can handle about 100 tx/s before bogging down - several times more than that with fixes to the broken multithreading model in today's core-derived clients. And 100 tx/s is well below the current 8MB BCH blocksize.

Let's keep this discussion as it is for now and give it a few months, will we? LN is coming.

Which, I expect, will do very little to solve the congestion problem. But OK.

(Hint: a "fully-validating, non-mining wallet client" is what the rest of the world calls a full node.)

Hint: when Satoshi said 'node', he was referring to a mining fully-validating client. Except for when he qualified it explicitly as non-mining. IOW, the coarsening of the language -- by people who should really know better -- has resulted in increased ambiguity.

NO ONE CARES ABOUT BEECASH ~ THE BEECASH NOOBS BANNED ME WITHIN 10 MINUTES :-D GET THE FUCK OUTTA HERE !!! LOLLLL

[itod]

So, I guess this is finally Masterluc's expected correction down to 10k.

Amazing how the guy never misses.

what will happen after this correction according to masterluc?

If we go down only to $10K then $40K (or $70K? can't remember exactly). If we are lucky to go bellow $10K then moon next. The lower we go the higher the bounce.

[OWZ1337]

So, I guess this is finally Masterluc's expected correction down to 10k.

Amazing how the guy never misses.

what will happen after this correction according to masterluc?

If we go down only to $10K then $40K (or $70K? can't remember exactly). If we are lucky to go bellow $10K then moon next. The lower we go the higher the bounce.

bathsalts are bad :\ stop using drugs...give your life to Jesus~

[julian071]

(snip)

(snip)
It's the same concept at the basis of PoW: Working must be hard, checking must be easy. And stay easy.

So what is your point here? Do you assert that farmers in Africa are able to run a fully-validating, non-mining wallet client for BTC are fully able to, but are utterly unable to do so for BCH?

Again! Simplifying things down to 1/0, "fully able"/"utterly unable" is quite below you. It's a matter of degrees. Come on.

I am not a farmer and don't live in Africa, but running a "fully-validating, non-mining wallet client" is possible for me on the BTC chain, albeit not always comfortable bandwidth-wise. It would be nearly impossible for me to do the same on the BCH chain, if the miners would get their shit together and stick to the big blocks they loved so much, rather than jumping wildly from one size to the other.

Today, the BCH chain is less resource intensive than is the BTC chain. Of course, I expect this will change with increasing use of BCH in commerce. Nevertheless, it has been shown that today's typical home computer on a typical home broadband connection can handle about 100 tx/s before bogging down - several times more than that with fixes to the broken multithreading model in today's core-derived clients. And 100 tx/s is well below the current 8MB BCH blocksize.

Let's keep this discussion as it is for now and give it a few months, will we? LN is coming.

Which, I expect, will do very little to solve the congestion problem. But OK.

(Hint: a "fully-validating, non-mining wallet client" is what the rest of the world calls a full node.)

Hint: when Satoshi said 'node', he was referring to a mining fully-validating client. Except for when he qualified it explicitly as non-mining. IOW, the coarsening of the language -- by people who should really know better -- has resulted in increased ambiguity.

NO ONE CARES ABOUT BEECASH ~ THE BEECASH NOOBS BANNED ME WITHIN 10 MINUTES :-D GET THE FUCK OUTTA HERE !!! LOLLLL

Your shift key is stuck, please have it fixed!

Seriously tho, it's nice seeing all this drama having seen it so many times before. Especially because I see so many people new to crypto around me panicking, reminds me of when I started out. It is hard not to panic when you see your stash' worth evaporating, when you don't really know what's going in. I try to help them to stay calm and hodl, but of course it's hard to get through to emotional people.

[gentlemand]

but of course it's hard to get through to emotional people.

Sit on their face and do a guff on it.

[Remember remember the 5th of November]

All in all, for the people who believe in TA, the RSI indicator shows we are no longer overbought on the weekly, however the monthly is still over 70, 75 to be exact, which is quite good.

[Searing]

So let me get this straight, people got involved in BTC without realizing attempts at regulation were almost inevitable... then panic sell at the first signs of trouble?

No.

yep...you got it.....

[serveria.com]

The noobs have shit their pants as always... plus next China ban FUD... no wonder if I would have bought at 20k I would be scared now too

[zazzbg]

So, I guess this is finally Masterluc's expected correction down to 10k.

Amazing how the guy never misses.

what will happen after this correction according to masterluc?

According to his Russian vkontakte page price will drop to around $9000 and then I quote: " after that, we will not see 4-digit price anytime soon"

[julian071]

but of course it's hard to get through to emotional people.

Sit on their face and do a guff on it.

I'll try that, thank you.

[pera]

LOL. I've seen this panic sell so many times. Thanks for the cheap coins! Appreciated as always.

Mining is extremely profitable right now, so I wouldn't call this price "cheap".

[Searing]

LOL. I've seen this panic sell so many times. Thanks for the cheap coins! Appreciated as always.

yeah... I did panic sell some 72 LTC for the tax man..in case...but other than that (should have sold last

month in case to usd at the same price more or less anyway) am holding

no fun though......watching my unicorn crypto gallop away (if at least in a temporary way)

well....tax man needs his pound of flesh..I always sell at the wrong time anyway...so what the heck

in HODL mode for stuff that does NOT invite pissing off the tax man, for last years massive gains

edit:

I retired yesterday...sorry about breaking crypto and all that....the crypto gods hate my lazy retired ass...

thus the crash....

oops...

now if I sell the LTC at the low...I can complete the week with being 100% rekt'd

[explorer]

Big leg down tomorrow. Another 20% at least. Alts going down 40%. All the buyers in South Korea were shot dead. The US government is rounding up all holders of Monero. Your hard drive is about to crash and your seed is missing a word in the middle.

And I've used my crypto profits to book everyone here in for an involuntary sex change.

If only the Mayor had returned everyone's pants 

[lightfoot]

141 transactions per second on the blockchain? What the hell is wrong with you people?

[Searing]

141 transactions per second on the blockchain? What the hell is wrong with you people?

and this is on the RUMOR of south korea still considering banning ALL crypto ..not just exchanges

and the RUMOR of China banning all use of ANY exchanges of any form in country or out of country

what will happen if either or both of those are said to be true is anyone's guess

its a FUD FEST

ah hell, I've not 'panic sold' anything in like 2.5 years....good to see I still can wimp out

Even if it is just 72 LTC

[Rosewater Foundation]

Big leg down tomorrow. Another 20% at least. Alts going down 40%. All the buyers in South Korea were shot dead. The US government is rounding up all holders of Monero. Your hard drive is about to crash and your seed is missing a word in the middle.

And I've used my crypto profits to book everyone here in for an involuntary sex change.

If only the Mayor had returned everyone's pants 

That guy is totally despondent now. He cries in his sleep. Those trousers are all he has left.

[explorer]

Big leg down tomorrow. Another 20% at least. Alts going down 40%. All the buyers in South Korea were shot dead. The US government is rounding up all holders of Monero. Your hard drive is about to crash and your seed is missing a word in the middle.

And I've used my crypto profits to book everyone here in for an involuntary sex change.

If only the Mayor had returned everyone's pants 

That guy is totally despondent now. He cries in his sleep. Those trousers are all he has left.

Maybe if you let him out to play once in a while...

[d_eddie]

I've placed a largish limit buy at a fairly low price. I doubt it will get filled, but you never know with crypto, do you?

[Rosewater Foundation]

Big leg down tomorrow. Another 20% at least. Alts going down 40%. All the buyers in South Korea were shot dead. The US government is rounding up all holders of Monero. Your hard drive is about to crash and your seed is missing a word in the middle.

And I've used my crypto profits to book everyone here in for an involuntary sex change.

If only the Mayor had returned everyone's pants 

That guy is totally despondent now. He cries in his sleep. Those trousers are all he has left.

Maybe if you let him out to play once in a while...

He would only embarrass himself.

[jbreher]

By the way, @ jbreher, to the extent that you were really employing $250 price increments in recent times, I hope that you have either stepped those back a bit on those increments (to make more large) or are otherwise keeping up with them.  I would feel stressed to a fucking much higher level, if I were to have been employing $250 price increments in the past day or so and during other times like these.

Nope. Still at $250. I had some gap-filling to do when I got around to checking the trades today, but such is no problem. I don't see any reason to panic when taking my time opens such gaps.

I do have a higher propensity for anxiety when we're streaming down, as opposed to streaming up. But then I just glance over at my growing piles of BTC & BCH, and console myself in the knowledge that we will again one day arise. Just today, I've pulled in 17 BTC on execution of pre-entered buy orders, and another 1.5 or so BTC on the volatility. When we again arise to mcgoosen's magic $25777, that'll be nearly a half-mill of fiat value.