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

[mike4001]

Holy shit ... BCH is pumping hard.

Who is buying this?

[bitserve]

Holy shit ... BCH is pumping hard.

Who is buying this?

Donno. But I am selling some more

[STT]

I buy with zero confirmation on bitcoin all the time.  Its a gold price fix for deposit, I guess if it were fraud or incorrectly displayed they could just reverse it anyway.   My purchase is not for instant delivery so its not really a problem, surely this is the case in lots of transactions.    The problem of buying a cup of coffee even doesnt seem that great as they can just ban you from your local and the shop has only lost a disposable cup really.

With say buying shopping, my local supermarket has a system to checkout your items as you take them off the shelf and put them into the trolley.   By the time you come near to the exit of the shop, the items would have already gone past more then 1 confirmation I guess so that system could work with bitcoin also (its been done via some FIAT mobile phone app currently).

Nothing is a real commodity currency unless you can hoard it and force others to pay you ransom for it.

Alot of commoditys expire after some time, even copper can degrade.   I dont really agree with the idea of ransom, its utility people are paying for.   In any case most commoditys are obtainable via alternative means, cornering the market seems quite unlikely in most situations.   Platinum I read is unlikely to ever become a monetised commodity because the reserves are too centred to Russia apparently.    I'm bullish on gold but theres a ton of the stuff out there, banks are buying this up actively but it still wont ever actually be rare howver demand could outstrip supply over a decade.      Thats comparable to growth in bitcoin, supply is lower then likely population growth of users.
  A feasible scenario leading to likely price rises, with gold the higher prices enable greater production ditto oil and many other commodity types but bitcoin supply growth never occurs hence the price dynamic we've all become accustomed to.

[mindrust]

Back on ignore you go.

Permanently.

Wise decision. You don't argue with retards and expect to win. Never happens. Take a look at bcash (BCC) thread every once in a while, it is like idiocracy movie in real life. They twist every truth to benefit their scam.

What is even more sad about our situation, a convicted criminal like Roger Ver happens to own shitloads of bitcoin and he can keep this bcash scam going forever without blowing up at some point like Bitconnect (BCC) did. Their trillion terabyte blocks will never be attacked because if someone does that they'll promote this attack as a real world usage. And If nobody uses bcash (bcc) network, they'll be advertising their scam for having lower fees, bigger blocks etc.

This shit is even more serious than a government attack but I personally believe Vermin is doing this because he is just retarded. It is like Batman&Joker now. If you kill either one of these, the other will also disappear. We'll have to fight bcash forever probably.

***OK OK I kid. I don't believe Roger Vermin will live forever. He has to die at some point right?

[york780]

Holy shit ... BCH is pumping hard.

Who is buying this?

People that like money ^^

[Vlada69]

Holy shit ... BCH is pumping hard.

Who is buying this?

People that like money ^^

US tax day passed so go figure...

[HairyMaclairy]

Pumping your bags doesn’t work here boys.  No one cares.   

Maybe try TRX or XVG twitter.  They are dumb as sticks.

[itod]

Since this BCash cancer is obviously not yet removed from the ecosystem, people have to get their shit together when criticizing their 0-confirmations concept BCH now rides on. You can't just say it's bad "just because" network needs confirmations by design. SPV wallets are described in the Whitepaper, more even substantial part of it talk's about them, and that's a fact. Also, remember when long time ago BitPay started accepting 0-confirmation payments and that was considered huge, BitPay was willing to accept the risk of double spend for small payments on itself form their partners, rather then small businesses waiting for confirmations and potential loosing business selling T-shirts and similar payments. The risk was smaller then the reward. The arguments against BCash ridiculous claim this is something new and better then BTC are simple:
- They have just invented the hot water, the concept is the same in BTC and already tested on Bitcoin network;
- LN is technically superior solution to SPV wallets, with LN you don't need any trust to accept instant transactions

Ver, Wu & their team of swindlers are there to moot the waters, it's their Modus operandi, and by not replying to them correctly, i.e. by bashing SPV wallets, will just leave things unclear, exactly what they want.

[El duderino_]

I could be glib and point out the 'cash' in the title.

Are you fucking serious right now ? That's your ultimate argument ? It had 'cash' in the title, therefore Bitcoin Cash is the real Bitcorn ?

Go fuck yourself you disingenuous bellend.

There is really no arguing this point. They worked. To the point that freeking _payment_processors_ accepted zero conf txs.

Those "freeking" <sic> _payment_processors_ are fucking retarded for accepting zero confirmation Bitcorn transactions.

OK, go ahead and 'rip me a new asshole'. Big boy.

I'm not sure why I unignored you to begin with. I saw people Meriting your posts and thought I should give you another "try" - so to speak - but, TBH, I really don't have the desire to engage with, nor discuss a hostile fork of Bitcorn with you or any other of Roger's disciples.

It's like trying to convince an Mohammedan to eat bacon. No good will come of it.

Back on ignore you go.

Permanently.

Still stupid the pump bcash is having This moment
No good Will come of iT ;-) but how long Will iT last before Going back down

[bitserve]

I could be glib and point out the 'cash' in the title.

Are you fucking serious right now ? That's your ultimate argument ? It had 'cash' in the title, therefore Bitcoin Cash is the real Bitcorn ?

Go fuck yourself you disingenuous bellend.

There is really no arguing this point. They worked. To the point that freeking _payment_processors_ accepted zero conf txs.

Those "freeking" <sic> _payment_processors_ are fucking retarded for accepting zero confirmation Bitcorn transactions.

OK, go ahead and 'rip me a new asshole'. Big boy.

I'm not sure why I unignored you to begin with. I saw people Meriting your posts and thought I should give you another "try" - so to speak - but, TBH, I really don't have the desire to engage with, nor discuss a hostile fork of Bitcorn with you or any other of Roger's disciples.

It's like trying to convince an Mohammedan to eat bacon. No good will come of it.

Back on ignore you go.

Permanently.

Still stupid the pump bcash is having This moment
No good Will come of iT ;-) but how long Will iT last before Going back down

Hey Mic, I think I have never read if you already sold all your Bcash or not... Did you? If not, this doesn't look like a bad moment to sell, at least, some more.

[HairyMaclairy]

Quality investment advice:

https://vimeo.com/264812431


Unrelated - we are now in the second longest stretch without a recession since 1929

[fluidjax]

There is really no arguing this point. They worked. To the point that freeking _payment_processors_ accepted zero conf txs.

0-Conf requires trust.

Trust that the miners will behave, and not replace a higher fee TX into the pool.
Trust in TX's without any POW
Trust that your node has connected to other REAL nodes.
Trust that your DNS server hasn't been posioned etc.etc.


The white paper states....

12. Conclusion
We have proposed a system for electronic transactions without relying on trust.

In terms of the white paper, 0-Conf is clearly a fail.

No L2, and a requirement for fast confirmations forces you down the 0-Conf route, everyone knows it sucks, but you have to fight the corner because you have no alternative.

[MelMan2002]

Quality investment advice:

https://vimeo.com/264812431


Unrelated - we are now in the second longest stretch without a recession since 1929

So you are saying the 2010's are akin to the 1960's?  Interesting...very interesting...

[Torque]

The Great BCash scam:

1. Unlimited block size: check

2. Centralized mining: check

3. 0-conf so verification is nill: check

4 Removal of the 21M cap: soon!  

5. Paper derivative backed by BCash: soon!  

[afbitcoins]

With regards to zero confirmation spending. That is stretching credibility a bit. Even the name of it says it all zero confirmations means there is zero confirmation.  I don't remember that ever being a thing. I always thought you need about 6 confirmations to consider it safe?

Dash has a great solution, as usual. With Dash 'instant send' a quorum of masternodes accept the transaction and instantly lock it. No double spend can then happen. Shortly afterwards the confirmation goes through into the blockchain the normal way. Just another example of how Dash already solved all these problems ages ago and the power of the tier of masternodes.

[bitebits]

Darkcoin rambling.

^  Can you please shill your premined and highly centralized shitcoin in the relevant sub? My bank payments are instant for the very same reasons. Thanks.

[TERA2]

The fourth Vegeta is a charm.

[Micky25]

[Last of the V8s]

The fourth Vegeta is a charm.

yuh not terrible little overnight trade there from 8751 to 9011

[Totscha]

With regards to zero confirmation spending. That is stretching credibility a bit. Even the name of it says it all zero confirmations means there is zero confirmation.  I don't remember that ever being a thing. I always thought you need about 6 confirmations to consider it safe?

Dash has a great piss poor solution, as usual. With Dash 'instant send' a quorum of centralized masternodes accept the transaction and instantly lock it. No double spend can then happen. Shortly afterwards the confirmation goes through into the blockchain the normal way. Just another example of how Dash already solved swept all these problems under the carpet ages ago and the power of the tier of masternodes ensures centralization and prevents small players form participating.

FIFY