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

[jonat3]

where are the bids on stamp and btc-e?

seems everyone is waiting for a crash or sleeping?

I think because people need time to transfer the funds to Bitstamp. People focused on bringing down the walls on mt. gox and now they need some time to switch gears. Some of the money is flowing to altcoins as well.

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[Shak]

well, a hard fork is a change in protocol that splits it into two protocols. 0.7 guys wont accept the blocks of 0.8 guys, creating two different blockchains. not very encouraging, and in my opinion not related to price.

[windjc]

well, a hard fork is a change in protocol that splits it into two protocols. 0.7 guys wont accept the blocks of 0.8 guys, creating two different blockchains. not very encouraging, and in my opinion not related to price.

Exactly, which is why this guy's posts seem to make no sense. I think he was hit by the troll box.

[ChartBuddy]

[wildbud]

I see a litecoin crash coming before 50

[QuestionAuthority]

I thought all those strange offshoots like Vaginacoin were failing?

[Voodah]

GUYS something really really BIG is about to happen...

BTC is stalling while lots and lots of money and hashing power gets pumped into alts.

Several alts are getting hard-forked ATM.

Big crypto players setting positions.... something's cooking..

LOL

What's so funny ?

I think they are buying alts before BTC jumps to 5k and the alts subsequently follow...

In case you haven't found out, QRK, TAG and IFC just got hard-forked, all at the same time. Right now.

Alts have a future in my opinion.

But right now the alts are a ticking time bomb.  This rise is predicated on 2 things.

1. The fervor Bitcoin has created in this rally.
2. Hedging against Bitcoin because of the rally.

Which means

A. If Bitcoin takes off the money will leave the alts and go back into Bitcoin and teh alts crash back down.
B. If Bitcoin crashes, the confidence leaves the ENTIRE market and the alts crash with it.

The only way $$$ continues to flow into the alts is if Bitcoin consolidates right where it is.

But with all those options, I wouldn't touch LTC with a 10 foot pool right now. This is EXACTLY what we saw China do to BTC 10 days ago. Can anyone remember that far back?

What you say is all true, but you're forgetting a factor.

If you have a huge mining pool (or anything really), BTC is not the most profitable coin to mine at every single moment.

In the last two days BTC grew no more than 20%, while some alts grew 500%. Of course they will not outgrow BTC in the long. It's just a couple days of opportunity until price somewhat catches up.

[Voodah]

well, a hard fork is a change in protocol that splits it into two protocols. 0.7 guys wont accept the blocks of 0.8 guys, creating two different blockchains. not very encouraging, and in my opinion not related to price.

Exactly, which is why this guy's posts seem to make no sense. I think he was hit by the troll box.

Hard-fork possible motives:

+ An incorrect (=not identical to the rest of the network) implementation forks off. In this case it will always certainly be clear who is "at fault". For example, in the 0.7 vs 0.8 fork, there was a bug in the 0.7 (and older) clients that limited them in an unknown way, but 0.8 was at fault for not correctly mimicking the bug. As keeping such a weird and inconsistent limitation would hold the network back, and be risky in itself, the bug-free behavior will become allowed after may 15. However, if old full clients remain on the network after that date, they will end up on a fork, and this fork will not resolve.

+ Two implementations arise that knowingly implement different rules, perhaps because of ideological disagreement about what the rules should be. If both are economically significant and have significant mining behind them (which in neither case necessarily means a near-majority), this is pretty much a disaster. The incentive for consensus is huge, as disagreement effectively means granting every old coin hold to spend it once on each side.

What is it that you guys don't understand?

It may be accidental (due to much sudden hashing power on alts) or intentional (to cause price crashes). Who knows..??

[windjc]

I see a litecoin crash coming before 50

I know everyone has an unique opinion on the matter, but if Litecoin starts to get some major press regarding this price rise, the semi-brotherly love between Litecoin and Bitcoin is going to go away.

I think the world can have multiple coins, although I do think if Bitcoin switch to mBTC, it would undercut a lot of Litecoin's attractiveness.  Yes, I know Goat, who owns several hundreds of thousands of Litecoins and has made probably over $5-10 million dollars TODAY alone, says that the Chinese think its a better coin. But that's crap. This is speculation in its purest purest form.

That being said, I have no problem with someone making $10 million in a day off of speculation, but at some point Litecoin's price is going to cause a more heated competition.

Its also so weird, because if BTC and LTC were privately held companies they could innovate and market at lightening speed. But being communal, they really can't adapt quickly.

Like the mBTC thing. People just argue back and forth about it and nothing will ever probably change. At least not for a while.

It will be interesting what the eco-system players like Circle.com will have to say about LTC. And how businesses will feel about accepting 2 coins instead of 1?

Again if this was corporate competition the smartest team would win. But instead, BTC and LTC are more like 2 inner tubes floating down and river without much oar power. Who knows whats going to happen.

[notme]

well, a hard fork is a change in protocol that splits it into two protocols. 0.7 guys wont accept the blocks of 0.8 guys, creating two different blockchains. not very encouraging, and in my opinion not related to price.

Exactly, which is why this guy's posts seem to make no sense. I think he was hit by the troll box.

Hard-fork possible motives:

+ An incorrect (=not identical to the rest of the network) implementation forks off. In this case it will always certainly be clear who is "at fault". For example, in the 0.7 vs 0.8 fork, there was a bug in the 0.7 (and older) clients that limited them in an unknown way, but 0.8 was at fault for not correctly mimicking the bug. As keeping such a weird and inconsistent limitation would hold the network back, and be risky in itself, the bug-free behavior will become allowed after may 15. However, if old full clients remain on the network after that date, they will end up on a fork, and this fork will not resolve.

+ Two implementations arise that knowingly implement different rules, perhaps because of ideological disagreement about what the rules should be. If both are economically significant and have significant mining behind them (which in neither case necessarily means a near-majority), this is pretty much a disaster. The incentive for consensus is huge, as disagreement effectively means granting every old coin hold to spend it once on each side.

What is it that you guys don't understand?

It may be accidental (due to much sudden hashing power on alts) or intentional (to cause price crashes). Who knows..??

If there was a hard fork it wouldn't be hard to figure out what was going on.  Are you sure there isn't just a surge of hashpower causing more orphans?  Can you provide any sources that describe what you think is happening?

[wildbud]

I see a litecoin crash coming before 50

I know everyone has an unique opinion on the matter, but if Litecoin starts to get some major press regarding this price rise, the semi-brotherly love between Litecoin and Bitcoin is going to go away.

I think the world can have multiple coins, although I do think if Bitcoin switch to mBTC, it would undercut a lot of Litecoin's attractiveness.  Yes, I know Goat, who owns several hundreds of thousands of Litecoins and has made probably over $5-10 million dollars TODAY alone, says that the Chinese think its a better coin. But that's crap. This is speculation in its purest purest form.

That being said, I have no problem with someone making $10 million in a day off of speculation, but at some point Litecoin's price is going to cause a more heated competition.

Its also so weird, because if BTC and LTC were privately held companies they could innovate and market at lightening speed. But being communal, they really can't adapt quickly.

Like the mBTC thing. People just argue back and forth about it and nothing will ever probably change. At least not for a while.

It will be interesting what the eco-system players like Circle.com will have to say about LTC. And how businesses will feel about accepting 2 coins instead of 1?

Again if this was corporate competition the smartest team would win. But instead, BTC and LTC are more like 2 inner tubes floating down and river without much oar power. Who knows whats going to happen.

I personally had invested significantly more money into LTC than BTC from the start but this current trend is just crazy. People will start taking profits and it will drop to the ~25 range then go back up. Don't get me wrong I could see LTC going above 100 in the next 6 months but not before a major crash. I took 50% profits at 36, 39, 41. Now I have buy orders at 26, 23, 17

[windjc]

I see a litecoin crash coming before 50

I know everyone has an unique opinion on the matter, but if Litecoin starts to get some major press regarding this price rise, the semi-brotherly love between Litecoin and Bitcoin is going to go away.

I think the world can have multiple coins, although I do think if Bitcoin switch to mBTC, it would undercut a lot of Litecoin's attractiveness.  Yes, I know Goat, who owns several hundreds of thousands of Litecoins and has made probably over $5-10 million dollars TODAY alone, says that the Chinese think its a better coin. But that's crap. This is speculation in its purest purest form.

That being said, I have no problem with someone making $10 million in a day off of speculation, but at some point Litecoin's price is going to cause a more heated competition.

Its also so weird, because if BTC and LTC were privately held companies they could innovate and market at lightening speed. But being communal, they really can't adapt quickly.

Like the mBTC thing. People just argue back and forth about it and nothing will ever probably change. At least not for a while.

It will be interesting what the eco-system players like Circle.com will have to say about LTC. And how businesses will feel about accepting 2 coins instead of 1?

Again if this was corporate competition the smartest team would win. But instead, BTC and LTC are more like 2 inner tubes floating down and river without much oar power. Who knows whats going to happen.

I personally had invested significantly more money into LTC than BTC from the start but this current trend is just crazy. People will start taking profits and it will drop to the ~25 range then go back up. Don't get me wrong I could see LTC going above 100 in the next 6 months but not before a major crash. I took 50% profits at 36, 39, 41. Now I have buy orders at 26, 23, 17

I think that $26 order is going to be filled in a few minutes.

[wildbud]

I see a litecoin crash coming before 50

I know everyone has an unique opinion on the matter, but if Litecoin starts to get some major press regarding this price rise, the semi-brotherly love between Litecoin and Bitcoin is going to go away.

I think the world can have multiple coins, although I do think if Bitcoin switch to mBTC, it would undercut a lot of Litecoin's attractiveness.  Yes, I know Goat, who owns several hundreds of thousands of Litecoins and has made probably over $5-10 million dollars TODAY alone, says that the Chinese think its a better coin. But that's crap. This is speculation in its purest purest form.

That being said, I have no problem with someone making $10 million in a day off of speculation, but at some point Litecoin's price is going to cause a more heated competition.

Its also so weird, because if BTC and LTC were privately held companies they could innovate and market at lightening speed. But being communal, they really can't adapt quickly.

Like the mBTC thing. People just argue back and forth about it and nothing will ever probably change. At least not for a while.

It will be interesting what the eco-system players like Circle.com will have to say about LTC. And how businesses will feel about accepting 2 coins instead of 1?

Again if this was corporate competition the smartest team would win. But instead, BTC and LTC are more like 2 inner tubes floating down and river without much oar power. Who knows whats going to happen.

I personally had invested significantly more money into LTC than BTC from the start but this current trend is just crazy. People will start taking profits and it will drop to the ~25 range then go back up. Don't get me wrong I could see LTC going above 100 in the next 6 months but not before a major crash. I took 50% profits at 36, 39, 41. Now I have buy orders at 26, 23, 17

I think that $26 order is going to be filled in a few minutes. seconds.

[wildbud]

Or not lol

[justusranvier]

Forget about the dollar value of LTC - what matters is how it moves vs bitcoin: http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ltc-btc&market=btc-e

[windjc]

Forget about the dollar value of LTC - what matters is how it moves vs bitcoin: http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=ltc-btc&market=btc-e

Are you LTC bullish with this chart or are you, as I am assuming, showing us that LTC just hit major levels of resistance?

[vps15]

omg who gives a fuck about litecoin. this is a bitcoin forum, we need Adam up in here to stop these posts.

[justusranvier]

Are you LTC bullish with this chart or are you, as I am assuming, showing us that LTC just hit major levels of resistance?

I have no opinion regarding the short term behaviour of the exchange rate.

Just want to point out that the dollar isn't a good measuring stick, especially in this thread.

If you're going to talk about Litecoin in "Wall Observer BTC/USD - Bitcoin price movement tracking & discussion" thread, at least talk about it intelligently - i.e. is LTC going to gain against BTC, not the USD.

[windjc]

Are you LTC bullish with this chart or are you, as I am assuming, showing us that LTC just hit major levels of resistance?

I have no opinion regarding the short term behaviour of the exchange rate.

Just want to point out that the dollar isn't a good measuring stick, especially in this thread.

If you're going to talk about Litecoin in "Wall Observer BTC/USD - Bitcoin price movement tracking & discussion" thread, at least talk about it intelligently - i.e. is LTC going to gain against BTC, not the USD.

I agree. I was looking at that exact same chart today. As for people asking about why LTC is being discussed in this thread, it is being discussed because it currently is arguably a factor in Bitcoin price. Money flowing from BTC ---> LTC or visa versa is a factor to consider when trading or buying.

[oakpacific]

it is just as easy to use as BTC if not more so cuz to download the wallet its like sooo much faster.

Bitcoin was a lot faster too, back before it was widely used.

If Litecoin was ever actually used in real life for all these fast transactions you keep talking about it wouldn't scale any better than Bitcoin.

im not so sure about that, the ltc dev team is aware of the mistakes that btc made and is trying to fix them before we run into that problem.

but anyway its what people use first they sort of stick with, and for millions of chinese it seems to be ltc


im not a btc hater at all but i saw the advantages and ltc very early and well this is no shock at all to me.



and for the people who are expecting a dump, well it might correct down some but its not like us long time ltc holders are going to do anything.

Goat if you ever want to cashout some ltcs let me know