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

[gizmoh]

Greedy miners digging their own grave and ours too..low treble digits is not a dream, should >51% be achieved at ghash and double spend occur..

[Davyd05]

If I were a big BTC holder (like the winklevoss), I would set up a miningfarm just to balance this shit out a bit, It might even turn a profit, if not, it least it protects the network.

more importantly the money invested in the btc lol

[macsga]

I have explained earlier that it's an overrated claim that a big (or better, HUGE) pool has anything to win out of double spending. Chances are due to FUD spreading they will be forced to do the same somebody else did a while ago when they reached at the same point...

Relax and don't forget to...


HODL!!!!!!!!1

*Edit:
It's explained here too: http://organofcorti.blogspot.com.au/2013/12/december-8th-2013-weekly-pool-and.html

[ChartBuddy]

Explanation

[ChartBuddy]

Explanation

[tutkarz]

If I were a big BTC holder (like the winklevoss), I would set up a miningfarm just to balance this shit out a bit, It might even turn a profit, if not, it least it protects the network.

Not only this, everyone could buy one simple usb miner and join for example p2p network. That would work too.

[Richard Branson]

Not only this, everyone could buy one simple usb miner and join for example p2p network. That would work too.

USB Miner without a ROI?
Only the seller profits 

[F-bernanke]

What if BTC Guild goes down with a soft/hardware glitch for a day? Where will those miners aim there mining power?

[lemonte]

What if BTC Guild goes down with a soft/hardware glitch for a day? Where will those miners aim there mining power?

Back up pools. It happened over Christmas actually, their site went down for a few hours so i just switched to Slush until it was back up.

[gizmoh]

I have explained earlier that it's an overrated claim that a big (or better, HUGE) pool has anything to win out of double spending. Chances are due to FUD spreading they will be forced to do the same somebody else did a while ago when they reached at the same point...

Relax and don't forget to...


HODL!!!!!!!!1

*Edit:
It's explained here too: http://organofcorti.blogspot.com.au/2013/12/december-8th-2013-weekly-pool-and.html

From gmaxwell, bitcoin developer:
"The excuse giving for years of why consolidations of ten percent, twenty percent, or even more, in the hands of pool operators didn't effectively disprove the Bitcoin security model was that pool operators were more obligated than a typical miner to behave with the public interest at heart because the hashrate controlling miners could vote with their feet.

I've never been too fond of the argument: evidence (e.g. miners voting with their feet very slowly even when a pool is clearly robbing them) suggests otherwise... But that argument doesn't even exist for GHash.io/CEX.io: the miners are captive and cannot leave. Worse, there is a moral hazard because an unknown portion of the hardware is paid for by other people (at top dollar rates too) and so if some stunt they perform debases its value... so what? Heck, perhaps it drops the market value down to nothing an cex can buy their obligations back for a song. This means that CEX.io can probably profit from an attack even if that attack ultimately fails."

[mmitech]

this is how it looks now, the community have to do something about it

[macsga]

I have explained earlier that it's an overrated claim that a big (or better, HUGE) pool has anything to win out of double spending. Chances are due to FUD spreading they will be forced to do the same somebody else did a while ago when they reached at the same point...

Relax and don't forget to...


HODL!!!!!!!!1

*Edit:
It's explained here too: http://organofcorti.blogspot.com.au/2013/12/december-8th-2013-weekly-pool-and.html

From gmaxwell, bitcoin developer:
"The excuse giving for years of why consolidations of ten percent, twenty percent, or even more, in the hands of pool operators didn't effectively disprove the Bitcoin security model was that pool operators were more obligated than a typical miner to behave with the public interest at heart because the hashrate controlling miners could vote with their feet.

I've never been too fond of the argument: evidence (e.g. miners voting with their feet very slowly even when a pool is clearly robbing them) suggests otherwise... But that argument doesn't even exist for GHash.io/CEX.io: the miners are captive and cannot leave. Worse, there is a moral hazard because an unknown portion of the hardware is paid for by other people (at top dollar rates too) and so if some stunt they perform debases its value... so what? Heck, perhaps it drops the market value down to nothing an cex can buy their obligations back for a song. This means that CEX.io can probably profit from an attack even if that attack ultimately fails."

I will stick with the 1st part of gmaxwell's explanation. I find the second part a bit 'non-objective'. I guess I'm too naive - or too orthologic to believe that they cannot/won't do anything "funny". Time will tell.

[spooderman]

I'm very glad to see us talking about this. Network health is dreadful. Wake up people, stop using that shitty pool.

[DaSheep]

lol

[ChartBuddy]

Explanation

[magicmexican]

Massive drop

[micalith]

Massive drop

panicking from the 51% attack FUD . . ?

[Davyd05]

Massive drop

massive?

[Ashitank]

Any one news that caused the drop or it just that time of the day or week to Panic sell.

[Davyd05]

Any one news that caused the drop or it just that time of the day or week to Panic sell.

you really didn't see all the 51% posts? lol