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

[gembitz]

But if most altcoins are scams then that would mean there is almost 135b dollars propping up all these alt-coins. That's more than half of all the money in crypto, how am i supposed to believe that 60% of all the money in crypto is that clueless and invested in scams?

I can create a cryptocurrency with 100 million dollar market cap with $1.

1. Create crypto

2. Pre-mine 100 million coins

3. Wash trade a single coin on a shady exchange in Korea or China for $1.

4. Boom, $100M market cap.

when faucet? =) weeee

[Ibian]

What if BTC reach 5k$ and stays like that for, idk, 15 years?
No whales bs, no trades speculation, no any no-sense

Could we start spend it like if it was a decentralized cryptocurrencies?

Is this a possible world?

What if god descends and tickles your balls?

[gembitz]

But if most altcoins are scams then that would mean there is almost 135b dollars propping up all these alt-coins. That's more than half of all the money in crypto, how am i supposed to believe that 60% of all the money in crypto is that clueless and invested in scams?

I can create a cryptocurrency with 100 million dollar market cap with $1.

1. Create crypto

2. Pre-mine 100 million coins

3. Wash trade a single coin on a shady exchange in Korea or China for $1.

4. Boom, $100M market cap.

You could probably get passed step 1 considering you are code savy enough, I am not a developer but I imagine it's a lot easier to create a crypto than I think.

But if you just pre-mine a bunch of coins how would you ever get support from anyone or get listed? Who would support you're chain? You would have to be the only one mining it so it would cost a heck of a lot more than 1$.

I just think altcoins don't get enough credit, I wonder how many crypto enthusiast were brought in being exposed to a an altcoin first rather than bitcoin ?

re: BTI it's easier just to buy ~ you must think of a real world use that bitcoin core doesn't do! weeee

===>

https://freiexchange.com/market/BTI/BTC

http://www.bitcoinstant.org/

#obeybitcoin

[cAPSLOCK]

You know that run up to the time you finally, but gently launch up from the bed and stagger, eyes watering, to the toilet... get on your knees, throw back the lid and take a couple more cold, short breaths before you wretch your guts out.  Probably three, maybe four good spasms of agony and acrid taste, then a couple more deep breaths, and of course the encore as you struggle to even produce much more than thick drool with each dry heave.

And finally... you feel the incessant misery that has been building up for an hour receding as you stagger up and rinse out your mouth.  It's over.  And you are going to be OK damn it.  In fact you will be just fine.

Well.

We are not quite to that time yet, I am sorry to say.

But it is very close.

And when we are all done, and about to tuck back in bed to rest peacefully...

One of you.

Will be able to ask:

"Who sold at the bottom!?!?"

I MEAN it this time!

[bones261]

a respite from the dumping

I don't remember this happening. When did this happen?<sup>1

1. Did this happen?</sup>

We started to get a few wimpy green candles at around 4:pm London time. Also, the last decent dump happened around 6:00 am London time this morning. I think the bottom is in, for now, until we get close to the CBOE closing date of 07/18/2018.

[Ibian]

You’re just pissed off because the facts make you look as stupid as you are. You fell flat on your face for the Core scam.

Oh wow I'm internet famous now.

[drwhobox]

It's still possible for Bitcoin to reach untill 3,000$ mark untill it bounces back up in late 2018 there are no good resistance at 6k mark so possibly it still may go down.

[bones261]

It's still possible for Bitcoin to reach untill 3,000$ mark untill it bounces back up in late 2018 there are no good resistance at 6k mark so possibly it still may go down.

It all depends on exactly what the operations cost for the huge mining farms is. If it goes too low, we may see a push from the big miners to try and prop up the price. However, Bitmain made a boatload of profit last year. So they may have enough of a cushion to ride it out and have the competition get annihilated.  (Remember GHASH? They got blown out of the water in the 2015 bear market and Bitmain came out on top.)  This will have the added benefit of lowering the difficulty; therefore the cost to mine.

[Hueristic]

My "$7,500-$8,000" guess for tomorrow may have been a little off.

Fucking sea of red today, time to get on the bike and go get drunk.

[vroom]

It's still possible for Bitcoin to reach untill 3,000$ mark untill it bounces back up in late 2018 there are no good resistance at 6k mark so possibly it still may go down.

It all depends on exactly what the operations cost for the huge mining farms is. If it goes too low, we may see a push from the big miners to try and prop up the price. However, Bitmain made a boatload of profit last year. So they may have enough of a cushion to ride it out and have the competition get annihilated. (Remember GHASH? They got blown out of the water in the 2015 bear market and Bitmain came out on top.)

conclusion: decentralization gives bitcoin value but decreasing value leads to centralization? I hope current pools can compete with bitmain or he will dominate bitcoins hashpower sooner or later.

[bones261]

It's still possible for Bitcoin to reach untill 3,000$ mark untill it bounces back up in late 2018 there are no good resistance at 6k mark so possibly it still may go down.

It all depends on exactly what the operations cost for the huge mining farms is. If it goes too low, we may see a push from the big miners to try and prop up the price. However, Bitmain made a boatload of profit last year. So they may have enough of a cushion to ride it out and have the competition get annihilated. (Remember GHASH? They got blown out of the water in the 2015 bear market and Bitmain came out on top.)

conclusion: decentralization gives bitcoin value but decreasing value leads to centralization? I hope current pools can compete with antpoo/btc.com or bitmain will dominate bitcoins hashpower sooner or later.

They probably already do. I suspect Bitmain is pointing some of their hash at alternative pools just to obfuscate their true power. I could be wrong though. Also, centralization is just a byproduct of pure economics. It is always more economical to pool resources. Furthermore, total decentralization is a lofty goal. There is never going to be the homogeneous distribution of wealth, resources and talent required for true decentralization to take hold. That is why true communism never works. It always evolves into a despotic socialist regime.

[El duderino_]

My "$7,500-$8,000" guess for tomorrow may have been a little off.

Fucking sea of red today, time to get on the bike and go get drunk.

For me its sport @ 28degrees followed by small diner on terrace with summer wines ...., tomorrow its the real deal with me its not gonna be an Epic night like few weeks back but i’m starting my engine for celebrating my BTC increases of last 2 months and Will be So fucked up tomorrow on strong booze lovely foods with @ the end No more knowing my Own name of how a BTC logo looks like......

[UnDerDoG81]

Facebook bans Crypto Ads, price goes down. Facebook allows Crypto Ads again, price goes down 

[European Central Bank]

They probably already do. I suspect Bitmain is pointing some of their hash at alternative pools just to obfuscate their true power.

i reckon they've had far more than 51% for several years, and certainly have enough power to influence 51%. letting anyone know that is not helpful to their image.

[Rosewater Foundation]

Facebook bans Crypto Ads, price goes down. Facebook allows Crypto Ads again, price goes down 

But invite-only recruitment soiree

[UnDerDoG81]

Facebook bans Crypto Ads, price goes down. Facebook allows Crypto Ads again, price goes down 

But invite-only recruitment soiree

Facebook has reversed its blanket ban on cryptocurrency ads and will now allow pre-approved crypto businesses to advertise. However, ICOs and binary options will still be prohibited from the platform.

Source: https://bitcoinmagazine.com/articles/facebook-reverses-cryptocurrency-ad-ban-amidst-rumors-coinbase-acquisition/

There are rumours that Facbook will buy Coinbase and that might be the reason for reversing the ban.

[Last of the V8s]

This is the 10-th time I read about it this week. Facebook buying Coinbase?

Last night, I attended an invite-only recruitment soiree hosted by FB.

That is all.

Ooh how disgusting. You poor devil. Was it ghastly. Do tell us more.

[d_eddie]

If you haven't seen this before it's worth a watch.

Andreas explains why Big Blocks are not going to work. (watch time: 5-6mins, Petabyte Blocks & Streaming Money)

https://youtu.be/AecPrwqjbGw?t=11m39s

he is talking about how big block sizes would make bitcoin centralized (because he knows how Computing technologie would develop in the next 10 years ofc.)

Moore's Law has been defied already some time ago. It's not Andreas who seems to lack a basic grasp of current technology trends.

Even if so: LN is by design centralized.

It is not centralized by design. Indeed, the design itself is peer-to-peer - even more so than the Blockchain itself, because there are no validators that could potentially choke the network.

It is not centralized in real life deployment, either. Just look up some of the diagrams our resident Lighting Networker Boblawblaw posts once in a while.

So whats that argument even about?

Was there an argument? I only noticed someone spreading ill-digested information, or deliberate lies.

[jojo69]

This is the 10-th time I read about it this week. Facebook buying Coinbase?

Last night, I attended an invite-only recruitment soiree hosted by FB.

That is all.

Ooh how disgusting. You poor devil. Was it ghastly. Do tell us more.

that does sound unbearably lame

[d_eddie]

My "$7,500-$8,000" guess for tomorrow may have been a little off.

Fucking sea of red today, time to get on the bike and go get drunk.

For me its sport @ 28degrees followed by small diner on terrace with summer wines ...., tomorrow its the real deal with me its not gonna be an Epic night like few weeks back but i’m starting my engine for celebrating my BTC increases of last 2 months and Will be So fucked up tomorrow on strong booze lovely foods with @ the end No more knowing my Own name of how a BTC logo looks like......

If you weren't here, we'd have to make up someone like you just for the kicks. Enjoy yourself. Drink responsibly.

Oops... I slipped on the last phrase, sorry!