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

[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

[Searing]

Are we back to weekend pumps?

Indeed I hope so, one more major FUD fest like the last month and the IRS taxes due date...and I'll crack like a walnut...not sure how I would handle

another FUD fest and dump to 6,600 again...

(just saying, long time HODL'er..but man, I need a break on the cycles happening this fast ..it is dizzying!)

crosses fingers

[infofront]

Without looking at any charts, it seems to me like a replay of last Spring. In April we had BTC gains followed by a huge altcoin pump. In May it looked like "t3h flippening" was imminent.

[HairyMaclairy]

Looks like we need to take a break and consolidate at $8800.  We might be here for a few days.

[jojo69]

[Anon136]

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.

What, did they get some sort of commitment from a federation of miners/pools that when they receive conflicting transactions in their mempool they will mine the one they encountered first rather than the one with the larger fee? That could be done with like 2 lines of code. If it's more interesting than that than I will go do some research.

[Toxic2040]

Charts?  D,4h and 1h for your viewing pleasure.

[moneyForjam]

Pornhub Now Accepts Payment In Cryptocurrency:


https://www.zerohedge.com/news/2018-04-17/pornhub-now-accepts-payment-cryptocurrency

[Toxic2040]

[realr0ach]

Who would have guessed the most fraudulent exchange on the planet where no real humans even trade on for fear of being Gox'd would try and paint the tape higher with tethers printed from thin air.

Governments do that constantly and nobody cares, nobody says its "immoral".

I hope they print more. We are going up to 10k now. Cry me a river.

That's a dumb comment.  When just about every single person in this space knows Bitfinex is a giant fraud cooking the books and even acknowledges all price movements occur due to fraud on that exchange, it would make bitcoin a toxic asset.  Because what is the real price once the fraud is inevitably removed?  $3k? $1k?  $400?  $200?  A lot of noobs here have every single penny invested in bitcoin, and once this newer version of Gox eventually blows up, they will all be Bernie Madoff'd back to the stone age.  

The existence of crooked exchanges who cook their books 24/7 like Gox, Huobi, and Bitfinex is not a good thing for anyone advocating bitcoin as a "store of value".  If the price is entirely a derivative of what occurs on Bitfinex, it's just a store of fraud.

[ivomm]

No chance 

[Neo_Coin]

 

[mike4001]

Look at that walls at Bitstamp.

What I also like is that buywalls are forming

1300 BTC need to be sold to move back to 8,5k
2100 BTC need to be sold to move back to 8,0k

=> So this will not happen that fast :-)

Meanwhile we need 600 BTC to 9k or 1200 BTC to 10k

[Rosewater Foundation]

[realr0ach]

Ever seen a roach get squeezed?

It was the whiteness of r0ach the silver whale and the color of his bullion above all things that appalled me.

[Rosewater Foundation]

Ever seen a roach get squeezed?

It was the whiteness of r0ach the silver whale and the color of his bullion above all things that appalled me.

Nazism is a brilliant trigger. You could teach a course.

[HairyMaclairy]

$8900 already is a nice surprise

[Shermo]

I love Bitcoin, every time I sell some the price shoots up a few weeks later

[Karartma1]

Anybody still holding Byteball? That's one of the few BTC airdrops I never dumped. It seems like it's been tanking the last 8 months though.

Yes bro! My favorite after Bitcoin. There have been hard times with the distribution model but, hey, so far so good. One of the best projects around.

Back to bitcoin, i bought some more. 19th of every month is my bitcoin buying day

It seems like you made some cash if you sold them by the 20 something of every month, there have been a few peaks at the 20s past few months, right?

Maybe you misunderstood me: I don't sell, I am buying only and increasing my war chest. There's no point selling so cheap. I have much higher targets 

I see, thank you for clarifying that.
Just out of curiosity, have you never felt inclined to trade a bit? I mean, not selling your coins all at once but trying to profit some % every now and then while still holding/increasing your wallet? Wouldn't it help you grow your wallet a little more than just by simply holding?

Of course I did, and sometimes still do. But, you see, I prefer accumulation over short term fiat profits. I have a regular job that let me live with my money without having to worry about touching my stash. I'm basically building my way into the future. I don't need much in my life: I don't need no lambo, no fancy house, no shit. I need to be like a regular guy, similar to many, to mix with the crowd and be free.
I have a plan for my life, and for the first time I will be able to achieve it: without bitcoin I would probably still feel like a slave.