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

[crypmike]

I think if he originally had $8k, his profit would be 2k
But if he had only $6k, his profit would be 1k
 

True, If he only had 6k then he could not have made the second purchase.

Since it says he made both purchases he must have had at least 7k to start.

He could lend this money
So he gained 1k from the 1st deal
Then took -1k when he lent
And then again +1k

[1713557150]

1713557150

[LFC_Bitcoin]

via Imgflip Meme Generator

1 small pump of XRP and all the enthousiast where there HAHA     

I’ve got a load of XRP left at Bittrex, not overly concerned about it but be great if they went to say $100 each one day

[jbreher]

You likely have your finger on the pulse of the bcash community more than anyone else here. How's everything looking in regard to the possible hardfork?

Magic 8 ball says: "Concentrate and ask again".

In all due seriousness, I really don't have a good read on this yet. I've not even finished my analysis as to which way I would like to see it go.

As for my initial preferences:

My first read is that I'd like to see it tend toward no block size cap (and therefore have max block size be an emergent property of the system, a la BU). I also think I like the idea of re-enabling opcodes that were in the initial release - at least as compared to enabling a new opcode. I don't see the need for CTOR either.

All the above would put me in the SV camp, rather than the ABC camp. Or perhaps BU (hash power vote on each feature), or C0bra (no changes). But as I said, more analysis is required.

I also hold out some hope for a kumbaya moment. However, cross-camp relations don't seem to be getting any better with time.

Given that Bitmain has a split commitment to BCH and BTC, I was fairly comfortable in the hashpower battle going forward with nChain/Ayre/&co. However, with Bitmain finally successful (from all reports) with a 7nm chip, this no longer seems a safe assumption.

I guess I'll need to finish my analysis, pick a side, and get involved with the internal advocacy...

[StartupAnalyst]

LOL 

[jbreher]

You likely have your finger on the pulse of the bcash community more than anyone else here. How's everything looking in regard to the possible hardfork?

I will take the liberty to give my input. 

https://www.youtube.com/watch?v=92cwKCU8Z5c

Yeah... about that... I dunno, man.

We seem to have at least three camps that are determined to their way or the hiway:
- SV
- ABC
- C0bra

As well as BU trying to play peacemaker, but the result of their role is misunderstood.

SV and ABC each seem to have significant hashpower. This will likely lead to a split -- should each side remain committed to their cause -- resulting in two BCHs.

I've not seen any evidence that C0bra has any significant hashpower behind it. Accordingly, I expect this effort to fail, and if 'successful', be result in such a minority fork that it asymptotically tends toward zero. Maybe even quickly, due to hashpower-driven chain death.

Which leaves BU as the random wild card. Due to the rules of consensus, BU will follow the first chain -- SV or ABC -- to mine a majority block that contains a transaction that employs the new SV rules or the new ABC rules. That is first-in-time. Once the chain contains a transaction with either SV rules or ABC rules, it cannot ever contain a block with the other's rules. That is, subject to a majority of hashpower suddenly deciding to accept the other camp's rules, by creating a block with both's rules. Unlikely.

So rather than 'Winner takes it all', unless some attitudes change, we seem to be heading for 2.1 forks of BCH going forward. Which could likely portend a dismal future.

As said above, I'm hoping for a kumbaya moment.

[jbreher]

After all, one of the narratives is that BCH is not supposed to be used for a store of value;

Whose narrative is that? I don't recall that position ever being advocated by anyone of note.

Ability to be used as a medium of exchange (MoE) certainly does not preclude ability to be used as a store of value (SoV). Indeed, there is significant evidence that MoE is necessary for any commodity to become a SoV. And a reasonable theory that any commodity that loses its MoE will therefore lose its ability to be a SoV. Which bodes poorly for BTC, unless the LN grows quickly by several orders of magnitude.

[jbreher]

I guess you didn't get the memo. The person who discovered and responsibly disclosed this devastating bug was a bcasher.

neener neener neener.

Even if true, that is no slam dunk in your favor... but I would concede that if true, I would have to reconsider a variety of my presumptions about bcashers and the folks who are working on it.

Time to get busy reconsiderin'  

Extraordinary claims require extraordinary evidence  

Nothing extraordinary about this claim.

You're looking foolish, BTW.

Your the one who is being disingenuous (which can likely be described as foolish, too), if you supposedly have evidence and you are not sharing it.

Jeebus. Self-imposed blinders. Again. Now you're looking foolish. Again.

And it's not even that the fact that it took a beeeecasher to find a potentially devastating Core bug is any great shakes. The significant thing here is that it lays bare the absurdity of the echo-chamber driven narrative of 'our devs walk on water, all other devs are slime dwelling script kiddies'.

[crypmike]

https://twitter.com/Lomacrypto/status/1044058408922435584

[jbreher]

I wonder if it's fair to say that BCH took more of the people who saw Bitcoin ideolologically as a way to fight against the dollar and government.

I certainly feel that to be the case. Then again, I'm not exactly an impartial observer. Where are the sociological statisticians when you need them?

This leads to more internal struggle about now what is their one true Bitcoin and the one true way it should be

Hmm. Seems to me that the SV initiative could lay a legitimate claim to this, but that the ABC camp is abandoning that hill. Maybe multiple camps on the ideological front is leading to multiple camps on the implementation front?

[Torque]

LOL 

Wow that guy is straight up Alpha --- he grew a beard, shaved it off, and grew it back all in the span of about 5 minutes, lol. 

[crypmike]

Wow that guy is straight up Alpha --- he grew a beard, shaved it off, and grew it back all in the span of about 5 minutes, lol. 

I'm looking at his gf.. her face.. always such an angry 

[El duderino_]

via Imgflip Meme Generator

1 small pump of XRP and all the enthousiast where there HAHA     

I’ve got a load of XRP left at Bittrex, not overly concerned about it but be great if they went to say $100 each one day

I don’t have any but my gf stil have ..... just sold 33% during the pump , also bought @very low prices so no stress for her as well but she just doesn’t want xrp’s so waiting for the next good oppertunity to sell i guess 

[cAPSLOCK]

https://twitter.com/Lomacrypto/status/1044058408922435584

Wyckoff stuff always has seemed overly convoluted to me, but I gotta admit, that is a pretty strong match.

[bitcoin carpenter]

Could just as easilly be the top of phase B.
TA always shows what you want it to.

[jojo69]

Wow that guy is straight up Alpha --- he grew a beard, shaved it off, and grew it back all in the span of about 5 minutes, lol. 

I'm looking at his gf.. her face.. always such an angry 

she looks great with a ball gag on

[Torque]

OT: The lies we are being told about the U.S. economy are unbelievable

Step 1: Read article
https://www.cnbc.com/2018/09/24/the-us-economy-is-doing-so-well-it-could-be-the-feds-next-problem.html

Step 2: Analyze quote

"The economy is doing really well, and I'm worried that could we get to the point … where the concern is going to be more about the economy overheating than recession," Doll told CNBC's "Trading Nation" on Friday. "I'm not suggesting that's where we are, but I think we need to ask the question."

U.S. economic conditions have steadily improved this year as the labor market has tightened, wage growth has picked up speed and tax cuts have boosted profits. Growth in the GDP has reflected those improvements.

"Second-quarter nominal GDP was well into the 5s. Could it be over 6 percent nominal in the third quarter when it gets reported?" Doll asked. "All of that, we'd say 'Oh my goodness, are we beginning to have an economy that's too strong?'"

Step 3: Look at M2 Money Velocity Chart
https://fred.stlouisfed.org/series/M2V

Step 4: Laugh my fkn ass off

[El duderino_]

via Imgflip Meme Generator

Haha Nice lol

Neef to call a friend 

[Raja_MBZ]

via Imgflip Meme Generator

Haha Nice lol

Neef to call a friend 

Hmm... Macrobond?

[sirazimuth]

Brickstring.

Isn't that what those Mongolian dudes use to pull passenger aircraft with their penises ?

“Good morning passengers and welcome to Mongoloid flight 123 nonstop to Ulaanbaater.
Your stewardesses today are the lovely Knembish and Terbish.
And guiding us with brickstring upon arrival to the terminal will be Toeswith Strongdong...”

[xhomerx10]

No no no!  One end is clenched between the buttocks...