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

[d_eddie]

@keonne
I would advise against using @LocalBitcoins for the time being. They are having infrastructure problems which break the escrow system. My BTC trade bypassed escrow and sent directly to the counterparty.
My counterparty was honest and returned my BTC, but yours might not be.
12:09 PM - 3 Jul 2018

hmm.

+1 WOsMerit
Very useful info indeed.
Thanks.

[Paashaas]

https://www.youtube.com/watch?v=XORDEX-RrAI

feed from Breaking Bitcoin.

Roger after he saw that Bcash toilet paper 

[vapourminer]

i spent coins early on whenever i had the chance just to support the ecosystem and support vendors who accepted btc. at todays prices i dont even want to think about the value of the coins i more or less blew just to support the ecosystem, but i dont regret it a bit. after all its we who are proving the value of btc. we need to prove it "just works." to me that btc was well spent.

Regarding your substantive point, cited above, I have pretty much maintained a system in which I replace any bitcoins that I spend, and even though I don't go out of my way to spend bitcoins, if I find an opportunity to spend them that does not seem to be too much of a burden, then will soon thereafter replace any spent bitcoins.  I was a lot more adamant and nervous to replace them right away in the early 2014 to the early-to-mid 2016 time period when I was engaging in a lot more BTC accumulation (largely establishing my BTC postion - at least up to late 2014 and a kind of maintenance of BTC holdings thereafter). 

These days a remain a lot less nervous about immediately replacing any BTC that I might spend, but I still attempt to reasonably plug the dollar amounts of any spent coins into my authorized buy back amounts.  So for example, let's say that I go out and I see a 5% discount on a $1,000 product, if I buy with bitcoins (only way to get the discount is with bitcoins).  I would be like "wow", that seems like a decent enough incentive for me to spend some bitcoins.  Therefore, I spend $1,000 in bitcoins to buy the product, with a $6,300 exchange rate. (actually, 5% means that the seller is giving me the equivalent of $315 extra for my BTC ($6,300 x .05), which is $6,615. 

In the 2014-2016 period, I would nearly immediately lock in the 5% profits by buying back BTC immediately around $6,300.  These days, I might let the profits ride a little bit.  Therefore with the $1,000, for example, I might set buy-back orders at $100 increments, or some other reasonable ladder down the chain.. So maybe I conclude that $6700 is about as low as is reasonable in our current BTC trading range so I would set about 6 buy orders of a bit larger than $1,000 ($1,000/6 = $167)... maybe around $200 for each buy back order at $6,200, $6,100, $6,000, $5,900, $5,800 and $5,700) .. so if all of the orders fill, I end up buying back around $1,200 worth of BTC for the $1,000 that I spent.  One other tip is that I would not set my buy back orders exactly at the round numbers of the $100 increments, but instead set the orders a bit above the $100 increments in order to increase the likelihood that they will fill and not reverse just prior to filling at the round numbers where everyone (including BIG whales) tend to quickly set their attempts at BTC price manipulation orders.

i had been a btc miner (around 2011-2013 or so when gpus could do it), not a buyer, of btc, although now i occasionally also buy some. so it was more or less like continuous dollar cost averaging buying. so the coins i mined back in the day (which is the bulk of my current stack) i never replenished as i spent them back then. i mined new ones anyway so i was spending profit, and just wanted to test and use the new ecosystem.

replenishing coins sold with new ones is the best way for most people looking to build up their stash while taking advantage of btcs strengths for purchases. your strategy is a good one. currently i mine alts with gpus and exchange them for btc so i still replenish btc although its not much.

[Tyr808]

I am making a series of thread on why I am fundamentally bullish on Bitcoin in the long run.
It's all constant fundamental drivers which make a prolongued bear run a logical impossibility.
Feel free to contribute even if you disagree.

Reason 1: tether
https://bitcointalk.org/index.php?topic=4545260.0
Reason 2: decreasing actual CS
https://bitcointalk.org/index.php?topic=4591217

More to come.

[bones261]

Segwit signatures are still on chain they are just in a different spot.  Segwit moves the signature out of the input script and stores it in another part of the transaction on chain.

Speculating about future hard forks that might compromise Bitcoin security is pointless because any hard fork could compromise security in any number of ways.  And be rejected.  That’s what full nodes are for.  

Where is the concern trolling over a fork where only segregated signatures are valid and all signatures included with the transaction details invalid? That is technically theoretically possible too you know. It couldn't go all the way back to inception obviously but the fork author could contrive a random deadline date. JUSTSAYIN

Because any concern troll worth their salt knows that the philosophy of the Bitcoin Core team is to not implement hard forks. In fact, that philosophy is what is at the bottom of most of the angst from big blockers. However, Bitcoin core wants to stick to the principal that Bitcoin is immutable. How can you claim something is immutable if you go off hard forking each time you want to introduce a new feature? As we can tell, BCH has no qualms what-so-ever of hard forking. Most other coins have no qualms what-so-ever of hard forking. None of them are even close to be considered immutable. Of course, some will bring up that even implementing soft forks renders bitcoin mutable. But hey, at least someone can still use old versions of BTC software that go back to 2010, i believe, and still be able to interact with the BTC P2P network.

[LFC_Bitcoin]

https://www.youtube.com/watch?v=XORDEX-RrAI

feed from Breaking Bitcoin



loos therefrom

Where can I buy this
Had to Merit this post.

[Paashaas]

And that is being said by a guy that even if he's not Satoshi himself most people agrees he could perfectly had been. Additional layers are the only way to really scale orders of magnitude from here.

There has never been an IT system or application in the world that has been able to scale *without* secondary and tertiary layers. Even completely centralized ones. Any IT person, systems admin or programmer can easily tell you that.

That's why these "single layer crypto" idiots need to rightly fkn off. It's like arguing with a rocket scientist that rockets can be built without a propulsion system. Or that the earth is flat. It's condescension at best, lunacy and trolling at worst.

A channel on the Lightning Network can process 500 tps, with 7800 channels means 3.9 million tps. Going from 7 tps to 3.9 million is already a mindblowing increase but.... it is not enough.

We need tens if not hundreds of millions tps for Bitcoin in order to scale globally if you consider the enormous potential while keeping the main chain decentralised and secure as possible.

On-chain scaling was never an option only those bigblocker idiots dreaming about it ore they are not well informed enough.

[Last of the V8s]

loos therefrom

Where can I buy this
Had to Merit this post.

thanks gents (geddit?)
messaged a guy on the twitter...

[JimboToronto]

Good morning Bitcoinland. Finally recovering from Canada Day weekend. Whew!

Small pullback after the last few days' gains but still hanging in... currently $6590USD/$8677CAD (Bitcoinaverage).
_____

Just noticed the new poll. Seems I'm in third place. I'm not sure if I should feel honored by all the wannabes, or do some campaigning for more votes.

I guess I'd better go kiss some babes (over 18 years old, of course).  

[drwhobox]

Finally Bitcoin is recovering from the bloodbath that happend this past months. we're at the 7k$ mark right now! more and more are entering the market

[Last of the V8s]

Transcripts from building on bitcoin conference
http://diyhpl.us/wiki/transcripts/building-on-bitcoin/2018/

[vroom]

Finally Bitcoin is recovering from the bloodbath that happend this past months. we're at the 7k$ mark right now! more and more are entering the market

woah dude, don't jinx it. we said that to many times in the last months. I want to see 10k before I go in carolina mode.

[Rosewater Foundation]

Transcripts from building on bitcoin conference
http://diyhpl.us/wiki/transcripts/building-on-bitcoin/2018/

Nice find. I'll do more reading and less shit posting today.

[xhomerx10]

Good morning Bitcoinland. Finally recovering from Canada Day weekend. Whew!

Small pullback after the last few days' gains but still hanging in... currently $6590USD/$8677CAD (Bitcoinaverage).
_____

Just noticed the new poll. Seems I'm in third place. I'm not sure if I should feel honored by all the wannabes, or do some campaigning for more votes.

I guess I'd better go kiss some babes (over 18 years old, of course).  

 Seems to me this thread has a dont ask dont tell policy.

Edit: To clarify,  I'm not condoning sex with a minor...  the age of consent in Canada is 16.

[Rosewater Foundation]

Edit: Canadians

[infofront]

And that is being said by a guy that even if he's not Satoshi himself most people agrees he could perfectly had been. Additional layers are the only way to really scale orders of magnitude from here.

Visa is a not only a second layer (for the banking system) but a third party completely centralised one. Bitcoin can perfectly compete with that while being decentralised on its core... but only with adding L2 for "caching" the mass of small payments before settling on main blockchain. Also the only way to make those payments "instant" which is a must for most consumer payments.

Let's level with each other for a moment. Nick Szabo is Satoshi. It's an open secret.

[Last of the V8s]

Transcripts from building on bitcoin conference
http://diyhpl.us/wiki/transcripts/building-on-bitcoin/2018/

Nice find. I'll do more reading and less shit posting today.

Worth it if it saves Mrs Rosewater from a beating today.

[Rosewater Foundation]

Transcripts from building on bitcoin conference
http://diyhpl.us/wiki/transcripts/building-on-bitcoin/2018/

Nice find. I'll do more reading and less shit posting today.

Worth it if it saves Mrs Rosewater from a beating today.

Not today

[Rosewater Foundation]

This was a zinger.

[JimboToronto]

Worth it if it saves Mrs Rosewater from a beating today.

Mrs Rosewater and her five lovely daughters?