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Question: Where will this rally top out?
Already topped <$7,000 - 15 (23.1%)
$7,000-$7,499 - 5 (7.7%)
$7,500-$7,999 - 7 (10.8%)
$8,000-$8,499 - 3 (4.6%)
$8,500-$8,999 - 5 (7.7%)
$9,000-$9,499 - 1 (1.5%)
$9,500-$9,999 - 0 (0%)
$10K+ - 29 (44.6%)
Total Voters: 65

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21584976 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (143 posts by 33 users deleted.)
BobLawblaw
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July 15, 2018, 09:21:19 PM

I am excited to see what happens. They seem to think they are being assholes but stress testing like that is exactly the sort of thing we need. I am predicting that the network will self heal very quickly and easily.
*edit* what bones261 said.

Pretty much what I'm thinking - Them pulling their channels will have negligible effect on the network, overall.

If they pull their channels, it's not like there is any fundamental loss of payment routing or anything.

If this is an attack on the Lightning Network, it was not very well thought out.

People just aren't doing the level of Lightning Network transactions that they have put out all that funding for.

I just see it turning out to be one massive trolling-attempt that will end up failing.

Miserably.



Why is this thread 90% bullshit, merit circlejerking and off topics?

Because this season of Bitcorn is boring AF, fam.

You must be new here.
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jojo69
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no FOMO


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July 15, 2018, 09:22:07 PM

lol

nobody is going to stop mining

fool me once...shame on...shame on you...fool me, can't get fooled again

bitebits
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Bitcoin != exchange rate


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July 15, 2018, 09:35:58 PM

There’s this thing called a difficulty adjustment.  It can go up, but relevantly can also go down.  With low enough difficulty the entire network can be run with a single laptop from 2009.  

I still have a laptop from 2009.  We will be fine.

PS the miners were never intended on being a separate group from the users. Satoshi didn’t foresee ASICs.  Live and learn.

Next difficulty adjustment will likely be a small negative one. That did not happen often in the last year (scroll down):
https://bitcoinwisdom.com/bitcoin/difficulty

Interesting.


(Hashrate trippled in the last 6 months. Astonishing.)
vroom
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a Cray can run an endless loop in under 4 hours


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July 15, 2018, 09:42:04 PM

There’s this thing called a difficulty adjustment.  It can go up, but relevantly can also go down.  With low enough difficulty the entire network can be run with a single laptop from 2009. 

I still have a laptop from 2009.  We will be fine.

PS the miners were never intended on being a separate group from the users. Satoshi didn’t foresee ASICs.  Live and learn.

Next difficulty adjustment will likely be a small negative one. That did not happen often in the last year (scroll down):
https://bitcoinwisdom.com/bitcoin/difficulty

Interesting.

that's really interesting. Some investors see a loss in hashrate/difficulty as signal for a true bottom.
Last of the V8s
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July 15, 2018, 09:44:55 PM





seems like Brekken shot himself in the foot https://twitter.com/yeolddoc/status/1018590484237832192
bitcoinPsycho
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$100,000 BTC in one hour🍄💊


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July 15, 2018, 09:55:53 PM


you'd better sell them quick then . Im holding the bag and have everything to gain

You've got it exactly backwards, bud.
If YOU will not increase the value of btc by buying more, then I (and others) would seize to support you and process your transactions.
Case closed.

So, pretty please, with a cherry on top, BUY more btc it you want it to survive.
Your cooperation is appreciated.
each to there own. bitcoin has been good to me . it owes me nothing. thankyou bitcoin Smiley
Biodom
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July 15, 2018, 10:38:30 PM

Why is this thread 90% bullshit, merit circlejerking and off topics?

You have something better in mind while we wait for the halvening in 2020?

All those who base price of bitcoin on pretty pictures do it at your own peril.
With current prices it would take only twofold increase in mining difficulty to make mining unprofitable almost worldwide with few exceptions.

Bitcoin cannot exist in its current state without mining.
So, pretty much two scenarios: die or price increase. Way before halving.
There could be NOTHING else.

There’s this thing called a difficulty adjustment.  It can go up, but relevantly can also go down.  With low enough difficulty the entire network can be run with a single laptop from 2009.  

I still have a laptop from 2009.  We will be fine.

PS the miners were never intended on being a separate group from the users. Satoshi didn’t foresee ASICs.  Live and learn.

Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period).
By the time you could use your laptop again the value would be in the single $, presumably.
Biodom
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July 15, 2018, 10:41:20 PM

lol

nobody is going to stop mining

fool me once...shame on...shame on you...fool me, can't get fooled again



2% already did, presumably, or more accurately, 2% of hashing rate retired (temporarily or permanently).
There might be another 10% in the next mo if price stays the same.
Searing
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July 15, 2018, 10:53:31 PM

lol

nobody is going to stop mining

fool me once...shame on...shame on you...fool me, can't get fooled again



2% already did, presumably, or more accurately, 2% of hashing rate retired (temporarily or permanently).
There might be another 10% in the next mo if price stays the same.

LTC is gonna take a hit here soon.....all scrypt-pow coins IMHO....

right now ..at current LTC and pow-scrypt prices the hardware that has 90% of scrypt pow miners still mining..including LTC

is the Bitmain L3+...well, if 90% of the miners that exist for scrypt-pow are by Bitmain and they say 1/2 can't cover electric

at these prices..they all go off at the same time...the catch is eventually if it is NOT working for some (the preimer miners) and

eventually difficulty passes that make sense to mine scrypt-pow...there are NO other miners to replace...all scrypt-pow would

then centralize to bitmain and they also will have 51% of LTC network

thats the catch...no other miners to replace..then centralization ramps up big time

add to the fact of the 'supposed' bitmain miner with 3x the capacity and same watts more or less..and the usual bitmain process

of mining like hell for 4-5 months before offering it to the public..you could see a complete clean slate of equipment wiped out

with the only option (in scrypt pow) of buying dubious bitmain equipment because those 90% now L3+'s still mining would then

be kaput

would be dumb IMHO for bitmain to do that..but monoplies usually eat their young and do stupid stuff..

so expect this coming down the pike...no advantage to current L3+ owners if the conditions become ripe for all to shut off

and new equip exclusively to bitmain for the next 4-5 months would pretty much take care of that..

we will see...sold all my bitmain L3+'s and I'm out now....not gonna play their game..if such a 3x the speed unit exists

I see a hit coming in this area...can't help btc price either these kinda games

hope I am incorrect about the suspected new equip and the games above but bitmain has done this kinda thing before

Syke
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July 15, 2018, 11:45:44 PM

Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period).
By the time you could use your laptop again the value would be in the single $, presumably.

We've never had to endure a mining bear market. Repeated drops in difficulty would be painful.
jojo69
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no FOMO


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July 15, 2018, 11:57:00 PM

Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period).
By the time you could use your laptop again the value would be in the single $, presumably.

We've never had to endure a mining bear market. Repeated drops in difficulty would be painful.

please god

let it happen in the winter time
jbreher
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lose: unfind ... loose: untight


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July 16, 2018, 12:11:15 AM

PS the miners were never intended on being a separate group from the users.

“The design supports letting users just be users.  The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don’t generate.”
     - sn

Quote
Satoshi didn’t foresee ASICs. 

“At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware.”
    - sn
Rosewater Foundation
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July 16, 2018, 12:18:26 AM




Is this too subtle?
yefi
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July 16, 2018, 12:43:37 AM

Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period).
By the time you could use your laptop again the value would be in the single $, presumably.

We've already had two halvenings, a hardfork with bcash and 80-90% drops in price and this "heat death" scenario has never materialised.
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July 16, 2018, 01:07:58 AM

Biodom
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July 16, 2018, 01:08:14 AM

Before difficulty adjusts, time passes. If fast enough drop in hashing occurs, instead of adjusting, tx would have difficulty being mined (for a significant time period).
By the time you could use your laptop again the value would be in the single $, presumably.

We've already had two halvenings, a hardfork with bcash and 80-90% drops in price and this "heat death" scenario has never materialised.

Perhaps, and I hope so (that it stays this way);
I was just pointing out to two groups of posters (pure hodlers and pretty picture TA guys) that there is a price sensitive component (mining) that, in my opinion, is being stressed right now. My suggestion is to buy more btc if you want your btc to persevere.
Simple HODLing won't work.
Searing
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July 16, 2018, 01:20:24 AM



yeah...what I figure..took 1/2 of my BTC and Crypto and 1/2 of my traditional stocks etc and IF I manage

to continue to stay out of debt (and house is paid) I can slide by on my usual 35K salary I had before I retired

in Jan 2018 (3 years early) and same with alts and such till at least 65 years and have another small work IRA

to get me thru that last year to full retire at 66 years, and keep my BTC and maybe some alts in the process.

Also at 65 you can take medicade thus that is another 14k saved a year too boot...

so i can slide...thru what I see as a complete sh*tstorm in the next 3-5 years

so pay off your j.c. penny card, get new tires, neuter the cat, get some debt down ANYTHING before this

all happens...so at least if it does go kaput with a nice deep 40% correction you can say at least i did xxxy

of course I hope that if such happens BTC and crypto would act as a store of value and go sideways or up

in value while stocks etc dumped

but the above is 1/2 of all my crap gone..stay out of debt ... and still float is the goal

hopefully, I'm wrong and all will be just dandy crypto and otherwise...(but not seeing it)

later

brad

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July 16, 2018, 01:23:38 AM

With Wall Street in like Flynn I don't imagine we'll be the safe haven everyone imagines we'll be. We're pegged to the mainstream now, like it or lump it.

Of course, macroeconomics isn't really one of my strengths. I'm more an ideas man.

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July 16, 2018, 01:33:14 AM



Everything bubble Everything except gold and silver bubble Cheesy. That's why I still like them so much as an asset. The price action has obviously been abysmal in those market, but like I said a few posts back, price doesn't interest me that much (well you know except when other factors motivate me to sell at which time I hope the price happens to be high).
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July 16, 2018, 01:35:30 AM
Merited by HairyMaclairy (1)

silver

Um. Yeah, about that.

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