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

[ChrisML]

My guess turned out right, Dogecoin is actually more hyped than Bitcoin right now: http://www.redditlist.com/

Dogecoin #55

Bitcoin #60

I'm still shaking.

I've always believed that the rise of a poorly conceived alt, such as LiteCoin, would reveal how stupid the entire crypto scene is and that it is driven purely by greed and price manipulation. But if Dogecoin turns out to be the prick to Bitcoin's bubble... That would be an even greater cosmic joke.

Can't wait.  

I'd honestly see LTC doing this instead of DGC.

Think small, act big. That's all I am trying too say. 400K Dogecoins each month, with an outlook at a future price of (wild guess) $1,40 each. Sign me up. Oh no wait, I already did.

Blasphemy! May you and all of your kin incur the wrath of the great Doge!

Much thank you for blessings, oh great Jaroslaw.

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[N12]

You know, I've recently seen Idiocracy for the first time. I didn't take it seriously at first, but thinking about it, Dogecoin is the perfect bridge to the dumb age.

First, it starts off as a joke. It's just a funny meme with a cute japanese dog breed mixed with comic sans and faulty grammar. But the more the illusion prevails, the more it becomes real and actual stupid people are encouraged and bred since it is fashionable.

In that sense: To the moon!!! ┗(°0°)┛

[ChrisML]

You know, I've recently seen Idiocracy for the first time. I didn't take it seriously at first, but thinking about it, Dogecoin is the perfect bridge to the dumb age.

First, it starts off as a joke. It's just a funny meme with a cute japanese dog breed mixed with comic sans and faulty grammar. But the more the illusion prevails, the more it becomes real and actual stupid people are encouraged and bred since it is fashionable.

In that sense: To the moon!!! ┗(°0°)┛

Finally someone who is able 2 put it all in perfect words. Thank you kindly sir. Due too my lack of english grammar and pronunciation I was not able to do this.

Ride the hype.

[N12]

Don't worry, you will probably become a dogillionaire as bitcoiners are left in the dust. I dig it.

[NamelessOne]

You know, I've recently seen Idiocracy for the first time. I didn't take it seriously at first, but thinking about it, Dogecoin is the perfect bridge to the dumb age.

First, it starts off as a joke. It's just a funny meme with a cute japanese dog breed mixed with comic sans and faulty grammar. But the more the illusion prevails, the more it becomes real and actual stupid people are encouraged and bred since it is fashionable.

In that sense: To the moon!!! ┗(°0°)┛

I love Idiocracy! I quote that movie all the time! "Oh my balls!"

[ChartBuddy]

[Parazyd]

Quite a boring weekend actually, I thought more drastic stuff would happen. Still have to see what happens today though.

Oh, and good morning

[seleme]

My guess turned out right, Dogecoin is actually more hyped than Bitcoin right now: http://www.redditlist.com/

Dogecoin #55

Bitcoin #60

I'm still shaking.

I've always believed that the rise of a poorly conceived alt, such as LiteCoin, would reveal how stupid the entire crypto scene is and that it is driven purely by greed and price manipulation. But if Dogecoin turns out to be the prick to Bitcoin's bubble... That would be an even greater cosmic joke.

Can't wait.  

I'd honestly see LTC doing this instead of DGC.

Think small, act big. That's all I am trying too say. 400K Dogecoins each month, with an outlook at a future price of (wild guess) $1,40 each. Sign me up. Oh no wait, I already did.

DogeCoin is not DGC, stop messing with my precious DigitalCoins. Grrrrr

[notme]

Even though I've always been curious about the smell of dogshit, I just could never bring myself to try it.

Perhaps it is my realization that if not one wins, then ultimately, all will lose. Why even bother? Or perhaps I'm just too old school.

For all those even THINKING about "investing" in scamcoins: Don't forget that ultimately, there will only be ONE coin of each hashing algorithm because of the natural concentration of hashing power and the threat of 51% attacks.

Perhaps doge will be the scrypt one. It will certainly be hilarious to watch blight fight dogshit.

Why not merged mining?  A single chain doesn't scale as well as multiple chains.

Isn't Namecoin merged nowadays? It's the only altcoin I've ever dabbled in.

Don't you see the irony in demanding that decentralized currencies be centralized into a single chain?

Namecoin, devcoin, and ixcoin are all actively merge mined with bitcoin.  There may be others.  I don't know of any scrypt merged mining efforts at the moment, but I haven't dealt much with scrypt mining.

[Parazyd]

There is no merged mining for Scrypt (yet) as far as I know...
I'm sad that I missed the opportunity to mine NMC, I could've had quite a bit of extra money to get more BTC.

[N12]

How much hashing power does Namecoin have? I'm guessing that even though it is "free" after setting it up, few miners do it. Figures on the other ones with merged mining (SHA256) would be interesting too.

Also, I don't know for sure what you are trying to tell me anymore. I guess you are saying that merged mining can allow coins of the same hashing algorithm to coexist?

[Parazyd]

How much hashing power does Namecoin have? I'm guessing that even though it is "free" after setting it up, few miners do it. Figures on the other ones with merged mining (SHA256) would be interesting too.

Also, I don't know for sure what you are trying to tell me anymore. I guess you are saying that merged mining can allow coins of the same hashing algorithm to coexist?

You should check it out with Eligius. Luke and wizkid will tell you all about it

[notme]

How much hashing power does Namecoin have? I'm guessing that even though it is "free" after setting it up, few miners do it. Figures on the other ones with merged mining (SHA256) would be interesting too.

Also, I don't know for sure what you are trying to tell me anymore. I guess you are saying that merged mining can allow coins of the same hashing algorithm to coexist?

Googling namecoin difficulty looks like it should give you the answer, but the first two links I tried were not mobile phone friendly.  Most pools handle merged mining, and it is dead simple to set up on p2pool.  Solo mining would be more difficult, unless you just made your own p2pool chain and used that.

And yes, you got my point exactly.  The hash power can secure all chains at once, within the constraints of the coinbase (you have to add a hash to the coinbase for each coin a particular miner is merged mining, so you need room for all of those).

[byronbb]

hahah

https://bitcointalk.org/index.php?topic=387930.msg4196914#msg4196914

[MAbtc]

For all those even THINKING about "investing" in scamcoins: Don't forget that ultimately, there will only be ONE coin of each hashing algorithm because of the natural concentration of hashing power and the threat of 51% attacks.

Perhaps doge will be the scrypt one. It will certainly be hilarious to watch blight fight dogshit.

What about merge mined coins? My thinking has been that when most alt coins finally start dying off (though I think we may have some hype cycles yet to come), these chains are likely to remain the most secure of alts. Miners don't really have anything to lose by merge mining.

Edit: I see this has already been discussed.

[ChartBuddy]

[rpietila]

it seems clear that everyone and her brother are short-term bearish (hence has already sold everything not nailed down) and long-term bullish (hence has nailed everything left down twice, and then bolted it and welded the door shut).  i am finding it increasingly difficult to imagine who, then, is left to sell anything?  the guy loaded bought his doges from?

In theory it would go this way. If all the ones who influence the price are "bearish", there is no way to go but up (bearish means willingness to buy back cheaper).

In practice, the forum is not "full" of bears. It is still quite hostile towards bears actually. You can think a truly bear-dominated situation to be the reverse of the one in late November, when I was the sole dissident in the crowd of all bulls, and even I converted back to bull in about 2 weeks because of peer pressure. Only when the single remaining bull (BitChick ) is ridiculed so hard that she cries and becomes a bear at the exact bottom, the sentiment has reached its extreme.

Also there are probably more and more large holders who do not write to the forum actively. I know several BTC5k+ people (in fact out of my investment club, I am the only one with a large forum presence).

The record bid sum testifies to the simple strategy of selling and then buying back at a predetermined level. Quite many have seen that it worked in the past (December) and now store big fiat in orderbooks in high hopes of a flashcrash. The bids are concentrated in lower prices, which reveals their long term nature. (Also we cannot rule out manipulation with the aim of raising the price in the interim.)

With the current bid levels, it does not seem that the market would collapse overnight. But in want of buyers there is no much going up either. Anything can happen but successful traders think what is likely to happen and with what payout. 500 before 1000 stays in force.

[ChartBuddy]

[mb300sd]

it seems clear that everyone and her brother are short-term bearish (hence has already sold everything not nailed down) and long-term bullish (hence has nailed everything left down twice, and then bolted it and welded the door shut).  i am finding it increasingly difficult to imagine who, then, is left to sell anything?  the guy loaded bought his doges from?

In theory it would go this way. If all the ones who influence the price are "bearish", there is no way to go but up (bearish means willingness to buy back cheaper).

In practice, the forum is not "full" of bears. It is still quite hostile towards bears actually. You can think a truly bear-dominated situation to be the reverse of the one in late November, when I was the sole dissident in the crowd of all bulls, and even I converted back to bull in about 2 weeks because of peer pressure. Only when the single remaining bull (BitChick ) is ridiculed so hard that she cries and becomes a bear at the exact bottom, the sentiment has reached its extreme.

Also there are probably more and more large holders who do not write to the forum actively. I know several BTC5k+ people (in fact out of my investment club, I am the only one with a large forum presence).

The record bid sum testifies to the simple strategy of selling and then buying back at a predetermined level. Quite many have seen that it worked in the past (December) and now store big fiat in orderbooks in high hopes of a flashcrash. The bids are concentrated in lower prices, which reveals their long term nature. (Also we cannot rule out manipulation with the aim of raising the price in the interim.)

With the current bid levels, it does not seem that the market would collapse overnight. But in want of buyers there is no much going up either. Anything can happen but successful traders think what is likely to happen and with what payout. 500 before 1000 stays in force.

Is this investment club open to new members? Sign message I control 10kBTC to join?

[virtualfaqs]

Well I'm screwed. I bought a bunch at 780. Now I'm HODLing until I figure out the next course of action.

I panic bought after it went to 830 and dropped back to 780.