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

[jojo69]

Good luck my friend.  Search me on soundcloud

will do

[mindrust]

Get ready for a PoW change.
https://medium.com/@CobraBitcoin/an-open-letter-to-the-bitcoin-community-to-change-the-proof-of-work-algorithm-12a6545c20d0

Better late than ever.

[mindrust]

Well he is right.  Breaking Bitmain's dominance would be a good thing.  

Yeah, break the dominance by having more competition in the industry.

It's a crying shame others have not risen to challenge Bitmain's dominance.

Read this text.
https://medium.com/@CobraBitcoin/an-open-letter-to-the-bitcoin-community-to-change-the-proof-of-work-algorithm-12a6545c20d0

There isn't any competition left. If we change PoW it'll be a clusterfuck, if we don't Bitmain will be the owner of bitcoin. (if not already) I don't think a company like Halong can change things. Bitmain has too much USD in their hands now. They'll either lower the price of their hardware or come up with new hardware to drive Halong out of business. (3rd option: they'll just buy out Halong)

I expected this to happen years ago. I said that bcash will promote itself as the real bitcoin and confuse people. I said that dev team was too late to change PoW algo. They should have done it when the first ASIC came out when the community was smaller.

Now Cobra is complaining about this and says if we don't act now it'll be harder to do so in the future.

Good morning dude.

[TERA2]

I still see 13k happening before it crashes

[HairyMaclairy]

We still have full nodes to defend against Jihan. His power is largely limited to withdrawing hashing power.

[Last of the V8s]

Cobra was getting a severe honeybadgering yesterday on twitter - 'he's in league with Jihan' 'he's a bcashist' 'always thought he was dodgy since he came back'...
And he won't debate out his points.

Jihan could have 51%ed bitcoin for ~2 years now, but he hasn't, because unlike the little snake he isn't a complete twat.

for now, pow change is a reactive measure not proactive

my new secret crush has a video on this, might watch later https://www.youtube.com/watch?v=KI3SBTqJUtw&
Under the Microscope #2 - Proof of Work Changes
JW breaks down arguments against performing a Proof of Work change, and why such a fork would be more detrimental than helpful.

[HairyMaclairy]

I still see 13k happening before it crashes

We are going to have to break the down trend at some point as it reaches zero in mid May.

[Last of the V8s]

Good luck my friend.  Search me on soundcloud

will do

The WO band is taking shape guys

[mindrust]

Cobra was getting a severe honeybadgering yesterday on twitter - 'he's in league with Jihan' 'he's a bcashist' 'always thought he was dodgy since he came back'...
And he won't debate out his points.

Jihan could have 51%ed bitcoin for ~2 years now, but he hasn't, because unlike the little snake he isn't a complete twat.

for now, pow change is a reactive measure not proactive

my new secret crush has a video on this, might watch later https://www.youtube.com/watch?v=KI3SBTqJUtw&
Under the Microscope #2 - Proof of Work Changes
JW breaks down arguments against performing a Proof of Work change, and why such a fork would be more detrimental than helpful.

"Imagine if someone followed you around with a gun pressed against your head, and you were OK with this because “he is incentivized to not shoot me because of the threat of jail”, people would call you stupid and crazy, and yet when it comes to Bitcoin, we’re totally fine with thinking along those lines." -Cobra

[Last of the V8s]

Cobra was getting a severe honeybadgering yesterday on twitter - 'he's in league with Jihan' 'he's a bcashist' 'always thought he was dodgy since he came back'...
And he won't debate out his points.

Jihan could have 51%ed bitcoin for ~2 years now, but he hasn't, because unlike the little snake he isn't a complete twat.

for now, pow change is a reactive measure not proactive

my new secret crush has a video on this, might watch later https://www.youtube.com/watch?v=KI3SBTqJUtw&
Under the Microscope #2 - Proof of Work Changes
JW breaks down arguments against performing a Proof of Work change, and why such a fork would be more detrimental than helpful.

"Imagine if someone followed you around with a gun pressed against your head, and you were OK with this because “he is incentivized to not shoot me because of the threat of jail”, people would call you stupid and crazy, and yet when it comes to Bitcoin, we’re totally fine with thinking along those lines." -Cobra

Yuh I posted mine before reading yours, but that has not changed my mind. The analogy is faulty. If Jihan shoots, we get a flesh wound THEN change pow. And the shooter dies. We brick his hardware. Simples.

[HairyMaclairy]

Good luck my friend.  Search me on soundcloud

will do

The WO band is taking shape guys

Didn’t realize that Proudhon was a muso.

[ivomm]

Laszlo Hanyecz of Pizza fame and history does it again with Lightning mainnet

https://lists.linuxfoundation.org/pipermail/lightning-dev/2018-February/001044.html

[mindrust]

Cobra was getting a severe honeybadgering yesterday on twitter - 'he's in league with Jihan' 'he's a bcashist' 'always thought he was dodgy since he came back'...
And he won't debate out his points.

Jihan could have 51%ed bitcoin for ~2 years now, but he hasn't, because unlike the little snake he isn't a complete twat.

for now, pow change is a reactive measure not proactive

my new secret crush has a video on this, might watch later https://www.youtube.com/watch?v=KI3SBTqJUtw&
Under the Microscope #2 - Proof of Work Changes
JW breaks down arguments against performing a Proof of Work change, and why such a fork would be more detrimental than helpful.

"Imagine if someone followed you around with a gun pressed against your head, and you were OK with this because “he is incentivized to not shoot me because of the threat of jail”, people would call you stupid and crazy, and yet when it comes to Bitcoin, we’re totally fine with thinking along those lines." -Cobra

Yuh I posted mine before reading yours, but that has not changed my mind. The analogy is faulty. If Jihan shoots, we get a flesh wound THEN change pow. And the shooter dies. We brick his hardware. Simples.

I have to admit. That also makes sense.

But the main problem stays if we keep him alive. He'll keep owning >%51 till he decides to suicide which is unlikely because he is the leech. The parasite. Have you ever seen a kamikaze parasite? No. He'll bleed us dry till he can't.

Then he'll move to the next body. (crypto) Cobra & Luke want to kill the parasite though they don't guarantee there won't be any new parasites so I have mixed feelings on this. It is probably better to support competing companies as long as we can. But then again, bitmain can b/o any competing company when it becomes juicy enough. :/

[Karartma1]

Laszlo Hanyecz of Pizza fame and history does it again with Lightning mainnet

https://lists.linuxfoundation.org/pipermail/lightning-dev/2018-February/001044.html

But this time is like a non-event 

About price: how long until Batman pattern will be followed by that of Superman?

[mindrust]

This is why GPU/CPU mining is a lot better than ASICs i think.

GPU companies have to build&sell GPUs no matter what because gamers need to game. CPU manufacturers have to build&sell CPUs no matter what because there will be a demand whether people mine crypto or not. Nvidia/AMD/Intel will be making hardware no matter what. They can't be deceived by evil crypto criminals.

But ASICs? This is cancer.

There is no way Nvidia/Intel build HW and mine Bitcoin without getting noticed but Bitmain can. Because that's their only job. Nvidia and the others can't run a 2 businesses at once. They are making GPU/CPU's and we are exploiting their business. Good for us.

Maybe Cobra is right. Better late than ever.

[realr0ach]

Actor Brendan Fraser from The Mummy makes announcement old Jewish man attempted to rape him and that's why he was blacklisted from Hollywood:

https://dailystormer.name/metoobro-greatest-actor-brendan-fraser-molested-by-greasy-kike-monster-philip-berk/

Did I mention 74% of the #metoo sex crimes are Jewish males?

https://squawker.org/analysis/statistics-show-74-of-metoo-perpetrators-are-jewish-men-why-isnt-the-media-talking-about-this/

[mindrust]

A different question, now: how do you invest in precious metals? Do you actually buy silver and gold ingots to store, or do you purchase ETFs? I would like to include some general silver indexes in my portfolio.

If you can't lick it you don't own it. (Applies to both gold and bitcoin) Never trust 3rd party. Fuck ETFs

[HairyMaclairy]

Mem pool almost empty again. 

[mindrust]

"We don’t want our transactions being decided by the Chinese government. The solution is to adopt a new hybrid PoW system, possibly with a PoS combination, and choosing algorithms that are very easy and simple to build ASICs for. " -Cobra

This is where I get confused a lot. I mean... PoS?? Wtf? Wouldn't that mean removing the hard cap?

If he seriously considers PoS/PoW hybrid algo over our current PoW then its probably best to wait so the markets sort things out by itself.

[ivomm]

Laszlo Hanyecz of Pizza fame and history does it again with Lightning mainnet

https://lists.linuxfoundation.org/pipermail/lightning-dev/2018-February/001044.html

But this time is like a non-event  

About price: how long until Batman pattern will be followed by that of Superman?

From what I read on twitter shorts are rekt. They hoped for the price to fall below 9K. This is not happening for now, so they are forced to buy at the same levels 9.5K-ish they sold. The next week I expect some upward movement which may be extended in the week after that up to 15K range. If bears want to cause more than 20% drop they will need volume which is clearly lacking right now. From 15K they can try to  retrace to 12K and if lucky to 10K. Anyway, everyone has an interest that the lows are getting higher and higher, so the next ATH remains possible this year.