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

[infofront]

Sorry this is for Torque

You can't even post a bottom price call here, for fear of looking bad.

So why would anyone want to bet with you?

Just call a bottom price FCS.

TURA already did call a bottom price.  When we were having this discussion months ago when the price was still high, I said the price would probably level out at something like $4200-4400 after it worked out all of it's rises and falls. TURA said something like "$3k and that's being generous", while also claiming it might dump all the way to $1k.  Those predictions are obviously still on the table because shitcoin is still doing it's series of dead cat bounces after the $20k pump and dump.

You and TERA would make a cute couple. Can we arrange a date for you two?

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[marcus_of_augustus]

If the Bcash centralised mining corporation wont come to my rescue, who will come to my rescue?

Who's gonna save me?

Bcash - bringing back bailouts because ... well just because, so get the fuck outta here if you can't afford to run a full node.

So far, 2 centralised mining emergency forks and counting ... it's really the reaallllly real original bitcoin, read the write paper.

[KyleSpades]

Dudes, I know that this post is *mainly* for BTC but I believe these news could affect BTC as well. That WSJ rumored ETH SEC metting seems to be the biggest FUD of the month.

This reddit thread sums it all up: https://www.reddit.com/r/ethereum/comments/8hobwh/is_this_sec_is_eth_a_security_meeting_actually/

No one knows if it will actually happen, not even the fucking reporter (Paul Vigna) who wrote it for WSJ.

There could be ETH buy-ins in the next hours if this actually confirms (specially considering a lot of people bought it today for 75x bucks) and the other coins could follow.

ETH aside, I do believe we're not dropping the 9.2k hard support level and that this is the 4th bull run to 10k nevertheless  

[savetherainforest]

https://twitter.com/DougPolkPoker/status/993581533012283393

If Tone Vays is thinking that Bitcoin will go below $6k by 2019, he's just extrapolating from past bull rallies.

He's no wizard. No even close.

I hope he loses... ... Just for the lulz...

[cAPSLOCK]

https://mobile.nytimes.com/2018/05/07/technology/bitcoin-new-york-stock-exchange.html

Looks like a few people at least think bitcoin is better than baby hrains.

Some Bitcoin enthusiasts have said that its increasing integration into the existing financial system has pulled it away from its founding ideals. Paul Chou, a former trader at Goldman Sachs who set up LedgerX, a regulated Bitcoin exchange that would compete with the Intercontinental Exchange, said his company has made a point of focusing on large Bitcoin holders, rather than financial institutions.

“The reason we got into crypto was not to partner with a bank, but to replace them,” Mr. Chou said, using the shorthand for cryptocurrencies. “We deal with crypto holders directly in a way that really takes advantage of Bitcoin’s strengths, while avoiding brokers, banks and other institutions that take multiple cuts of the transaction.”

“The industry is seeing unprecedented institutional interest for the first time in Bitcoin’s history,” he said. “I’ve been amazed that the strongest believers in cryptocurrency often start out the most skeptical. It’s a healthy skepticism. But at some point the perception shifts, and for many institutions — I think we’re finally there.”

"They" are salivating for all the reasons laid out already..the big short. This is how ignorant these people are..not understanding enough to realize that just hodling and going long would achieve phenomenal results.  The problem for now at least is they havent bought in enough to drive the price down enough for weak hands to panic sell. This is why I believe we are going to have a Bullish couple of years until the next halfening. It will take institutions time to acquire position's that are strong enough to manipulate with out causing(more) huge price spike's. Natural adoption globally is going to increase price in the mean time so there might be enough liquidity by then to sustain these wall street shenanigans.

*edit*
+1 WOsMerit Marcus.       Entangled post.

There has never been an asset with the properties of Bitcoin.  No one playing in this sandbox has ever seen any thing like this before.  I do not underestimate the potential adversarial nature of the 'pros' getting into crypto.  But it would be as big a mistake for them to underestimate the extreme anti-fragile qualities BTC has shown for nearly a decade.

Win lose or draw... the popcorn is cheap.

[HairyMaclairy]

Bcashers being bcashers

Yes they studiously avoided addressing the https://www.bitcoinabc.org/2018-05-07-incident-report/ 'trusted miners' fiasco which was linked here earlier on.

What the hell is there to address? There was a bug. It had the potential to fork the chain. It got reported. It got analyzed. It got fixed. It got distributed. Chain did not fork due to the bug.

If I'm not mistaken, that's about the sum of it. What am I missing?

Ignore the haters.  The Bitcoin Cash leadership team is doing a great job. They are agile and responsive.  We are in safe hands.  

[cAPSLOCK]

Bcashers being bcashers

Yes they studiously avoided addressing the https://www.bitcoinabc.org/2018-05-07-incident-report/ 'trusted miners' fiasco which was linked here earlier on.

What the hell is there to address? There was a bug. It had the potential to fork the chain. It got reported. It got analyzed. It got fixed. It got distributed. Chain did not fork due to the bug.

If I'm not mistaken, that's about the sum of it. What am I missing?

Ignore the haters.  The Bitcoin Cash leadership team is doing a great job. They are agile and responsive.  We are in safe hands.  

[RoomBot]

If the Bcash centralised mining corporation wont come to my rescue, who will come to my rescue?

Who's gonna save me?

Bcash - bringing back bailouts because ... well just because, so get the fuck outta here if you can't afford to run a full node.

So far, 2 centralised mining emergency forks and counting ... it's really the reaallllly real original bitcoin, read the write paper.

Failed prototype, or just an Edsel claiming to be a Cadillac?

[Toxic2040]

Testing resistance at a .618 fib. Looking to get over this and find some nearby support maybe. Sideways with a side of moderate volatility looks like.

#dyor

[Rosewater Foundation]

taleb sounds more idiotic with every utterance he makes about bitcoin

To be fair:

"[Bitcoin's] mere existence is an insurance policy that will remind governments that the last object establishment could control, namely, the currency, is no longer their monopoly. This gives us, the crowd, an insurance policy against an Orwellian future."
Nassim Nicholas Taleb

[HairyMaclairy]

I followed Taleb on Twitter for awhile.  He has a thin skin and can’t handle journalistic criticism of his latest book.  So he comes across as a petulant child.  There are enough children in the cryptosphere without adding them to my feed.

[infofront]

If the Bcash centralised mining corporation wont come to my rescue, who will come to my rescue?

Who's gonna save me?

Bcash - bringing back bailouts because ... well just because, so get the fuck outta here if you can't afford to run a full node.

So far, 2 centralised mining emergency forks and counting ... it's really the reaallllly real original bitcoin, read the write paper.

It makes me appreciate the meticulous and conservative development approach of Bitcoin all the more.

[Paashaas]

[TERA2]

Sorry this is for Torque

You can't even post a bottom price call here, for fear of looking bad.

So why would anyone want to bet with you?

Just call a bottom price FCS.

TURA already did call a bottom price.  When we were having this discussion months ago when the price was still high, I said the price would probably level out at something like $4200-4400 after it worked out all of it's rises and falls. TURA said something like "$3k and that's being generous", while also claiming it might dump all the way to $1k.  Those predictions are obviously still on the table because shitcoin is still doing it's series of dead cat bounces after the $20k pump and dump.

You and TERA would make a cute couple. Can we arrange a date for you two?

I don't think I could handle roache's constant banter about jews and silver and Doland Trump...

We are not an effective team.

*Oblivion drone vaporizes roach*

[JayJuanGee]

Talking about death... one of my Ledger wallets have died. It has a burn mark near the LCD (deforming the plastic case) as if it had internally shortcircuited or something....

Anyone knows if there is some warranty replacement or something?

Has it happened to anyone else?

There is no guarantee of money back, but if you fill out the linked form they might talk to you about the problem.

https://support.ledgerwallet.com/hc/en-us/articles/360000608113

What to do if my Ledger Nano S has screen, buttons, USB port issues

If you have issues with your buttons (stuck buttons, broken buttons…), damaged screen or pixelated screen, or a loose USB port, then please fill out this form. There is no guarantee of a refund or exchange, but this form must be filled out in order to begin the process.

Well, I guess I have nothing to lose to try. Thanks!

And if they are not willing to replace it  , you might send the dead body for an autopsy and sake of education to Dave, he might be interested. Move your coins to another Ledger first, of course.

That is not a bad idea.  The guy (dave) is a bit nerdy, but sending to him could be a way to bring some publicity to the matter, perhaps?

Edit:  I saw in a subsequent post that vapourminer pointed out a reddit thread that might be more useful, perhaps?

Well, this is why you use multiple types of storage devices. Don't trust anything you didn't built or vet yourself. Got a ledger myself, so yeah.

Isn't this the reason that you save the back-up seed separately from the hardware device?  I doubt that most people have the technical abilities to "vet" or "build" these kinds of devices themselves, so they there is some trust that is involved that go beyond other security precautions involving the seed words.

[Rosewater Foundation]

I followed Taleb on Twitter for awhile.  He has a thin skin and can’t handle journalistic criticism of his latest book.  So he comes across as a petulant child.  There are enough children in the cryptosphere without adding them to my feed.

In the aftermath of the banking crisis The Wall Street Journal suggested that he “stock up on bodyguards.” Now he can deadlift 330 lbs. I haven't heard him say much about Bitcoin but I'd be bloody surprised if he wasn't a fan.

[JayJuanGee]

Segwit is working. LN is working. Transaction confirmation times are low, and fees are the lowest they've been in a long time. On LN they are non-existent. And the whole solution is supporting decentralization in the best way possible.

And yet people STILL want to bitch and find something wrong with the solution. And still bring up the block size shit like it even matters right now.

I'm so tired of the bullshit and I will call out anyone who brings that tired argument up again.

Sorry BCash shilling fucktards, but your goose is cooked. You lost. It's over. In fact, BCash never stood a chance. It was DOA.

You are being a tribalist again. That's not necessary if we actually did make the right choice.

Stop attempting to revise history, Ibian.

Segwit reached consensus, and 2x did not.    That is a pretty central reason why we currently have BTC with segwit but not with 2x, and BTC is not broken, and there is no need to rush into 2x, which really seems unnecessary at the moment, except merely as a talking point for whiners who are attacking bitcoin and convoluting issues (and you, Ibian, seem to be part of the problem when you are trying to support those kinds of supposed "better tech" arguments). 

[JayJuanGee]

Because miners producers do not have the same set of incentives that users consumers have and the bitcoin product exists to serve users consumers not miners producers, miners producers too exist to serve users consumers.

So...
Cryptocurrencies -- specifically the market for tx inclusion -- are the one and only special case where the laws of economics do not apply?

(As an aside, I'm quite sure that, when the producers shut off their alarm clock at oh-dark-thirty, and wearily drag themselves out of bed to face another long grim day of producing, that doing it for the benefit of the exalted consumers ain't first and foremost on their minds)

I don't have the patience to get into the weeds with you right now. I'm sure I could debate with you until the sun came up and you wouldn't yield, even if I was right and well articulated. Hopefully someone understood what I was saying.

Finally, you said something that makes some sense....     

[JayJuanGee]

It's necessary. Just a matter of when.

I'm not saying BTC doesn't need to eventually move over to larger blocks, but I support their slower, safer, forward-thinking, incremental approach to things.

I'll grant that Core's approach to scaling is slower than Cash's, but it certainly ain't safer.

Core is the name of the WALLET you trolling fuck.

True to form. Do you feel your statement has shown my assertion to be false? Because your reply is a mere irrelevancy.

You obnoxious fuck.  

What do you expect? I'm sure if I decided to post in the BCH thread and called it BCASH, all of your friends would jump down my throat.

Maybe. Personally, I just shrug it off. It is yet another irrelevancy meant to divert from the substance of dialogue. By calling it Core, I wasn't meaning to denigrate BTC. I erred. Sorry.

Though cAPSLOCK is still an obnoxious fuck.

If you can't bare to refer to BTC as Bitcoin, then just refer to it as BTC here. Fair enough?

If I do, can I expect that others will refrain from calling BCH BCash?

Yeah - that's what I thought.

If you do not have anything bad to say about bcash, then don't say anything....   especially in this thread.   

[JayJuanGee]

Governments are the ones that go to war. Ban their weapons.

Governments are the people, so why would it matter to distinguish banning from governments versus individuals?  All of the weapons amassing would just revert back to where it was.. first starting at a tribal level and then moving higher, and higher and higher...

In other words, distinguishing governments from people does not seem to help that kind of situation, when governments are an amalgamation of people.... even though the representativeness is going to vary from locale to locale and from country to country...  A BIG mess, ultimately.