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

[Toxic2040]

I am detecting some cognitive dissonance reading thru the last several pages.

"Treatment can help, but this condition can't be cured."

$12000 in 6 hours confirmed

Hey Mate! Is this what your beloved optimism chart say?
I know it can do better than that: am I right? 

I agree with this one. 

as a matter of fact it is. Unfortunately I don't have 200 million dollars to make it happen. something in my gut tells me $12000 is not that far away once the tether fud has subsided.

Finally... the return of the optimism charts.  Only a few hours remaining and $12k seems so far away.  I'll remain optimistic though.

should be heading for 12.3 anytime.

[1713553799]

1713553799

[1713553799]

1713553799

[1713553799]

1713553799

[True Myth]

$12000 in 6 hours confirmed

Hey Mate! Is this what your beloved optimism chart say?
I know it can do better than that: am I right?  

I agree with this one.  

as a matter of fact it is. Unfortunately I don't have 200 million dollars to make it happen. something in my gut tells me $12000 is not that far away once the tether fud has subsided.

Finally... the return of the optimism charts.  Only a few hours remaining and $12k seems so far away.  I'll remain optimistic though.

should be heading for 12.3 anytime.

Getting back on topic... anyone else noticing solid support gathering between the $10k to $11k range?

Roughly 2,400 BTC  from 11k to 10k on GDAX. I've been watching support grow all day in that range. I'm feeling optimistic about the next 96 hours.

*Edit* Just noticed the 1,000+ BTC wall at the magical Masterluc $7,700 mark.  Quite the following.

I mean... BTC is pretty much obligated to touch $12k now.

[bitcoinPsycho]

$12000 in 6 hours confirmed

Hey Mate! Is this what your beloved optimism chart say?
I know it can do better than that: am I right?  

I agree with this one.  

as a matter of fact it is. Unfortunately I don't have 200 million dollars to make it happen. something in my gut tells me $12000 is not that far away once the tether fud has subsided.

Finally... the return of the optimism charts.  Only a few hours remaining and $12k seems so far away.  I'll remain optimistic though.

should be heading for 12.3 anytime.

Getting back on topic... anyone else noticing solid support gathering between the $10k to $11k range?

Roughly 2,400 BTC  from 11k to 10k on GDAX. I've been watching support grow all day in that range. I'm feeling optimistic about the next 96 hours.

*Edit* Just noticed the 1,000+ BTC wall at the magical Masterluc $7,700 mark.  Quite the following.

I mean... BTC is pretty much obligated to touch $12k now.

thats right ...... the inevitability chart just sent me this.






 im not putting a time frame on this but will quote myself this time next year when it happens

[itod]

We are quickly approaching 1-2 sat/Byte BTC transaction fee area. Not there yet, still in 2-5 sat/B zone, but can easily happen tomorrow. This means that tomorrow some 0 fee transactions may be quickly accepted by miners. Insane when you remember where we where two weeks ago.

[bones261]

We are quickly approaching 1-2 sat/Byte BTC transaction fee area. Not there yet, still in 2-5 sat/B zone, but can easily happen tomorrow. This means that tomorrow some 0 fee transactions may be quickly accepted by miners. Insane when you remember where we where two weeks ago.

Unfortunately, most of the pools are set up to ignore 0 fee transactions and not include them in a block. Also, I suspect that Bitcoin.com, F2Pool and maybe Antpool have set things up to ignore transactions with slightly higher fees than that as well.  However, the situation is vastly improved. There are some transactions that have been stuck since November that are clearing. (Although I supect many of these are indeed spam.)

[enter`name`here]

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

Bitcoin cash is the original block chain?? I am fairly certain the information in that image is just wrong. Segwit activation did not cause a hardfork, it motivated it.

[d_eddie]

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

Bitcoin cash is the original block chain?? I am fairly certain the information in that image is just wrong. Segwit activation did not cause a hardfork, it motivated it.

I don't think they are that incompetent at the NIST. The blunder may be intentional.

[Toxic2040]

I mean... BTC is pretty much obligated to touch $12k now.

ikr...it was a nice weekend for me. Actually got out and finished some chores. Boat is almost ready to be splashed for spring.

Not sure where all this friction is coming from..but the market it straining at the leash to go up. Not sure if its residual down pressure from events last week(read NEM hack) or if we just got caught up in the typical weekend dump where the two forces basically cancelled each other out.

All in all looks like a bullish week is ahead.

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

Bitcoin cash is the original block chain?? I am fairly certain the information in that image is just wrong. Segwit activation did not cause a hardfork, it motivated it.

I don't think they are that incompetent at the NIST. The blunder may be intentional.

Technically..pro spin.

[keyboard warrior]

$12000 in 6 hours confirmed

There's less than an hour to go and it's still $11200 on bearstamp.

However it was $11968 on cex.io less than two hours ago. Did you mean $12000 only on cex.io?

[bitcoinPsycho]

$12000 in 6 hours confirmed

There's less than an hour to go and it's still $11200 on bearstamp.

However it was $11968 on cex.io less than two hours ago. Did you mean $12000 only on cex.io?

Yes lol

[d_eddie]

We are quickly approaching 1-2 sat/Byte BTC transaction fee area. Not there yet, still in 2-5 sat/B zone, but can easily happen tomorrow. This means that tomorrow some 0 fee transactions may be quickly accepted by miners. Insane when you remember where we where two weeks ago.

Unfortunately, most of the pools are set up to ignore 0 fee transactions and not include them in a block. Also, I suspect that Bitcoin.com, F2Pool and maybe Antpool have set things up to ignore transactions with slightly higher fees than that as well.  However, the situation is vastly improved. there are some transactions that have been stuck since November that are clearing. (Although I supect many of these are indeed spam.)

Getting low-fee or zero-fee transactions confirmed seems like an attainable goal. For example, by imposing a penalty on block reward for mining significantly underfilled blocks when the mempool has many transactions waiting. I understand there's an issue with timing. Maybe just "old" mempool transactions could count - say, only those that have been waiting more than 2-3 blocks. The penalty would be added as a bonus to the next full block, in order to preserve planned inflation. Several constants to tweak, but I think it could be done. This is a minor issue, however: no one is going to cry if If 0-fee txs get dropped.

My pet problem is more serious - getting rid of spam as much as possible. Avoiding tx censorship and fighting spam are fundamentally opposite goals, unfortunately. Core defined a threshold for dust transactions exactly in order to fight spam.

[Syke]

Nobody forwards 0-fee txes. The effective minimum fee is 1-2 sats/byte, which is so cheap it might as well be 0.

[El duderino_]

The time When everybody was bored by only ATH’s seems far away  

[pera]

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

Bitcoin cash is the original block chain?? I am fairly certain the information in that image is just wrong. Segwit activation did not cause a hardfork, it motivated it.

This is just a draft of an internal report, which open for comments, and it seems they already fixed the obvious error:
https://twitter.com/nerdgirlnv/status/957982195787771910

[El duderino_]

  Whats merit standing for ?

[d_eddie]

Whats merit standing for ?

Forum rank doesn't depend on activity alone anymore.
https://bitcointalk.org/index.php?topic=2818350.0

[nanobtc]

Whats merit standing for ?

Some measure of 'quality of posts', and/or longevity of the user. More details are here.https://bitcointalk.org/index.php?topic=2818350.0

[True Myth]

Going back to the network spam clearing up.

So… going theoretical here…  Many believe that the spam the bitcoin network was experiencing was orchestrated by people with ties to Bitcoin Cash.  The idea held by many was that these people were spamming Bitcoin network to drive fees up while offering a cheaper faster alternative.  At the same time it appeared as if someone was pumping Bcash on occasion to create hype behind it and grab more attention.  This seemed pretty effective at the time.  Keep in mind this all occurred during arguably record high entrance to the market by newcomers.

After a few months of this going on, the people chasing the alt coin market began placing heavy value on cheap, fast transactions.  This drove people to pumping coins that had little backing or history but, had cheap and fast transaction times.  I think the sheeple have moved past Bcash and now see a larger range of coins that are available that offer their cheap fast transactions.  The people who chased Bcash for the cheap and fast transactions have moved on (hence the Ripple boom).

There is little benefit to spamming the network now as many others on here have theorized.  Not to mention how costly it must have been to spam the network…  That money would be better spent say… pumping bcash again to gain interest in a market where Bitcoin is moving sideways and “becoming boring”.  You heard it here first… bcash pump inbound.

[JayJuanGee]

Hmmmmmmm, NIST crypto document

https://csrc.nist.gov/CSRC/media/Publications/nistir/8202/draft/documents/nistir8202-draft.pdf

so, bitcoin cash is the original blockchain. interesting.

technically, of course

just like ETC is the original Etherium


edit/ rethinking this...what about the emergency difficulty adjustment code?

hmmmmm

This claim of BCash being the original bitcoin is not correct in any way, technically or otherwise, except perhaps to retroactively spin historical facts to suit the bcash self promoting false narrative.

The more accurate historical rendition remains that bcash is and has been a minority attack on our lovey dovey  existing bitcoin; however, we could likely concede that if bcash were to gain network backing in various ways then at that time they could proclaim to be the real bitcoin, but to be honest they have to admit that they started out as a renegade and minority attack on the real bitcoin

[Ludwig Von]

Whats merit standing for ?

Something you can give to someone for a good post as a reward... . If you give one, you cannot undo it if the promise is not held...