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

[jojo69]

Bitcoin's main strength is not its speed, not its block time or size, not its mining algo, suppy cap... I am not saying bitcoin is an outdated tech though. It has the highest dev activity out there. Most of the altcoin devs are still copying core's work to create their own blockchain and that's a good thing. What iam saying is Its main strength is its immutability. Everybody knows once its on the block chain, it is done. There isn't a way to undo it.

In other words, bitcoin is the true decentralized/leaderless blockchain. (unlike eth or bcash or almost any other shitcoin out there)

Bitcoin didn't do partnerships, satoshi didn't buy google ads or hired shills to promote bitcoin... Everything happened because... bitcoin was good, people thought bitcoin was above partnerships, CEOs, leaders, corporates. People bought it and exchanges had to list it, businesses had to accept it as a payment method. Nobody signed nothing. That's why it is not going anywhere (nowhere bad) as long as it stays that way.

god damn dude

slow clap

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[JayJuanGee]

Jbreher

Let’s not kid ourselves here.  Bitcoin Cash is a money grab by Ver, Wu, Ayre, Peter R, Wright and the rest.

http://bitcoinist.com/bitcoin-billionaire-calvin-ayre-building-100m-bcash-resort-antigua/

By continuing to support Bitcoin Cash, you are continuing to openly support fraud.  You will not get any sympathy from us so long as you openly support fraudsters.  

I ain't looking for sympathy (like I need it .... seen today's price action?). What I am looking for is some basic civility. Some assholes think it appropriate to turn every conversation I have into some sort of referendum on BCH. With unfounded/unsupported accusations to boot.

And no, BCH is not merely a money grab by a small handful of individuals. It is a legitimate contender in the cryptocurrency space, being developed by an legion of participants. And quite possibly in the long term the savior of Bitcoin. There is no fraud here. Nobody who looks at the issue more then five minutes is confused about the fact that BCH and BTC are two different things. The accusation that there is some intended fraud here is beyond ludicrous.

Show me someone who has had a loss due to 'Bitcoin' being in the name of Bitcoin Cash, and I'll show you someone who is cavalierly negligent, willfully ignorant, or both.

If you don't want to be attacked by peeps in this thread, then  stop fucking talking and advocating for bcash in this thread.  There are other places for that, but no, you don't believe it.  You believe that you are doing some kind of good by advocating for bcash in this thread and defending it whenever anyone speaks badly about it (especially if they connect bcash with you)... Of course, peeps in this thread are going to connect bcash with you in this thread, because you cannot help to defend bcash as if you were some kind of self-appointed white knight.       

[scum]

My personal attempts at attempting to clone and modify code to create a shitcoin has given me a somewhat better understanding and appreciation of how Bitcoin works. Unfortunately, my attempts have been unsuccessful, since I really need a step by step guide to code "Hello,world." Probably much better for the community that I never succeeded.  

So you weren't responsible for bones coin?

[marcus_of_augustus]

everyone be enjoying their 4/20 high? ... never fails to deliver, mmm but maybe a bad trip for the shorts but oh well.

[JayJuanGee]

Bitcoin is about to take-off, there's a huge probability of it right now, it has broken the downtrend, once it does, proud owners of alts are gonna cry, again.

I am a proud owner of alts.

Bitcoin is like the Eiffel Tower - if you took away the buttressing it would fall down. ALts are the buttressing for bitcoin and if they disappeared bitcoin would fall down because difersification is an essential hedging aspect of any investment portfolio.

Also, although bitcoin is fine as an asset, it's technologically crippled and so alts are here to stay

Here you go again with your periodic spreading of misleading retardedness.  Get the fuck out of here with your alt pumping and your attempt to suggest that alts are the dog rather than the tail.  The tail does not wag the dog... 

The alts have come about due to a very important quality of Bitcoin: It is open source. Therefore, anyone can take the Bitcoin code, modify it any way they see fit and create an alt. You Bitcoin maximalists should stop dissing Bitcoin's progeny. My personal attempts at attempting to clone and modify code to create a shitcoin has given me a somewhat better understanding and appreciation of how Bitcoin works. Unfortunately, my attempts have been unsuccessful, since I really need a step by step guide to code "Hello,world." Probably much better for the community that I never succeeded.  

Personally, I am not dissing alts; however, I am dissing folks who try to act as if their alt (or the group of alts) is keeping bitcoin going.  Sure bitcoin can profit from various alts, but like you already said bitcoin is what caused the alts to come to the party.. it is not some kind of equal or some kind of inferior or some kind of dependent.... Bitcoin continues to have plenty of innovation, and some of the innovative ideas are taken from alts that test them out first... but even if there were no innovative ideas or innovative alts, bitcoin already had enough of a strong foundation to build upon.. and has been built upon for nearly 10 years, now (if we are starting from the  2008 bitcoin white paper or innovations that even preceded bitcoin's whitepaper that allowed it to come together in a whitepaper that was put into practice in early 2009 when satoshi first started mining it).

[Dabs]

He's not looking for sympathy. Some assholes think it appropriate to insert in every page a post about a coin that isn't the one true original bitcoin. The one that is linked in the whitepaper to bitcoin.org. And of course, this forum is bitcointalk.org NOT bitcoincashtalk.org

[scum]

Personally, I am not dissing alts; however, I am dissing folks who try to act as if their alt (or the group of alts) is keeping bitcoin going.

Like this?

Vertcoin is the new bitcoin!! Where this gone end?

[JayJuanGee]

Personally, I am not dissing alts; however, I am dissing folks who try to act as if their alt (or the group of alts) is keeping bitcoin going.

Like this?

Vertcoin is the new bitcoin!! Where this gone end?

The vast majority (surely more than 90%) of alts proclaim that they are fixing some kind of supposed deficiency in bitcoin, and supposedly that they also need a coin for that bitcoin fix because their coin (blockchain) is better, rather than directing their energies towards working on bitcoin.

[infofront]

So really all I know is that they intended to "scale" by increasing the blocksize. ... Has anything changed? Are they proposing realistic alternatives to lightning for scaling? Are there new developments that I should be aware of?

0 confirmation transactions. No, seriously - that's the amazing and innovative feature bcash has implemented to try to compete with lightning.

For the time being, mostly blocksize. As blocksize is all that is needed at this stage.

The BCH community, however, did demonstrate conclusively that:
- generic home computer HW on consumer broadband running bitcoind can handle ~100 tx/s
- above ~100 tx/s  there is still plenty of CPU BW
- a fix to bitcoind's naive threading model increases performance
- bitcoind with fixed threading on same HW & net can handle ~500 tx/s

The BCH community is doing the work of re-enabling a host of opcodes that were thrown overboard years ago before any real analysis was performed upon them. Oh, I guess that's not scaling.

Of course, it was that same community (though pre-fork) that first implemented Xthin, which reduces network bandwidth consumption by nearly 2x.

There is discussion of adopting Lightning. Not much traction for that. There's orders of magnitude that can be gained by a simple blocksize change first.

CPU overhead was never too much of an issue. Network bandwidth and storage capacity are the larger problems.
If big blocks are the answer, lets see the large scale experiments with 1GB blocks operating on testnet with hundreds or thousands of simultaneous users conducting enough transactions to fill the blocks to near capacity.

[Elwar]

log trend broken

I dont know about all of "you"...but "I" just feel really good when this happens. Down trend smashed...let's see where support forms for "us".   

That's what I'm talking about.

[bones261]

My personal attempts at attempting to clone and modify code to create a shitcoin has given me a somewhat better understanding and appreciation of how Bitcoin works. Unfortunately, my attempts have been unsuccessful, since I really need a step by step guide to code "Hello,world." Probably much better for the community that I never succeeded.  

So you weren't responsible for bones coin?

Nope, can't blame that one on me. 

[infofront]

He's not looking for sympathy. Some assholes think it appropriate to insert in every page a post about a coin that isn't the one true original bitcoin. The one that is linked in the whitepaper to bitcoin.org. And of course, this forum is bitcointalk.org NOT bitcoincashtalk.org

To jbreher's credit, it was someone else bringing up his stance on bcash. He hasn't mentioned it much on his own lately.

[bitserve]

Look at that walls at Bitstamp.

[bones261]

Look at that walls at Bitstamp.

Wall at 8830 getting eaten up.

edit: all gone. Bulls hungry.

[bitserve]

Look at that walls at Bitstamp.

Wall at 8830 getting eaten up.

I have seen a few 100+ bites. That's some interesting action for Bitstamp.

[Rosewater Foundation]

Getting warmer.

[LastJedi]

Look at that walls at Bitstamp.

Wall at 8830 getting eaten up.

I have seen a few 100+ bites. That's some interesting action for Bitstamp.

I've been comparing btc to usdt value on binance and they are pretty comparable.
Saw it shoot up to 8930 in no time then back down to 8850 within the next hour.
The price is all over the board and will no doubt see beyond 9000 on both bitstamp and the higher one on bitfinex.
Bitstamp at 8889 and bitfinex 8902.
So that mental resistance point at $9000 is there to break by morning.

*usdt - Some cryptocurrency insiders are claiming that a digital coin called tether is being used to prop up the price of bitcoin. - an article from cnbc.

"..But the company's online critics have long alleged that Tether, which has close ties to the crypto exchange Bitfinex, has been issuing more USDT than it has dollars in the bank, in order to drive up the price of bitcoin."
From an article from coindesk.

[Elwar]

Are we back to weekend pumps?

[jbreher]

Well, the way I see it, Lightning was two years too late. And it will be three or four years too late before it makes an appreciable difference. In professional engineering, one always does the best bang for the buck before engaging more resource intensive, longer, more complex solutions. Simple blocksize increase first.

Yea well maybe if that had been the rhetoric of the big blockers at the time there wouldn't have developed this schism. If they had said, look we need to increase the block size enough to get us over this hump until we can roll out some more practical second layer solutions and pressed for that I bet they could have gotten our capitulation.

That was the rhetoric. Since about 2014. Well before the fork.

Instead Ver comes out ranting and raving about how he is the one true emissary of Satoshis will and that Satoshi wanted huge blocks, big enough that everyone and their grandma can fit how ever many trivial transactions as they wish in there and that that WAS the solution to scaling, not a temporary stop gap measure.

Ver? Ver wasn't involved in Bitcoin Cash until well after the fork. At least as far as I have seen. Have you forgotten Bitcoin Unlimited? Bitcoin XT? etc?

Your argument sounds reasonable enough but they are not the arguments I am familiar with from the bcash community. I think perhaps you may be projecting rather than accurately describing the general consensus in the community. Unless you are trying to run defense for them by presenting them in a more rational light.

Defense for whom? This silly conflating of Ver, Wu, and Wright as 'the BCH community' is a complete mischaracterization. Yes, they talk about BCH. As do a host of others. But the only ones that seem to be quoted by those that hate BCH are these three. Well, maybe Mcafee too.

Add that the way Core/BS implemented the ugly kluge of shoehorning segwit in via a so-called soft fork has fundamentally changed Bitcoin's security model, and there is not much to love there.

They did that because their hand was forced by you guys. No one wanted to roll that out as early as they did in that state. They were trying to save bitcoin from Ver's hair brained machinations.

No. That was the segwit plan from the start of when core started seriously discussing its implementation. Long before serious talk of Bitcoin Cash. Which was itself a defensive move to save Bitcoin from the cancer that is The SegWit Omnibus Changeset.

[Rosewater Foundation]

the cancer that is The SegWit Omnibus Changeset.

dude