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

[Spaceman_Spiff_Original]

We cap-pitulated

Nice one !

[jbreher]

We cap-pitulated

Nice one !

Oh stop it. We've hat enough.

[goldkingcoiner]

Altcoiners... You have to take your hat off to them.

[xhomerx10]

@xhomerx10
RE: hat

after much discussion with my cat, he has opined that his image cannot be smaller than any other image in the avatar. so having his image reduced to fit on a badge on a hat is out.

he will deign however to wear a genuine WO hat on his head though. will that be possible? a hat with the BTC logo for him to wear?

 In order to make the hat look its best inside the existing avatar, I had to use some techniques the make the original look... weird so I  will only post the finished avatar but this is created from an original WO hat.

[Last of the V8s]

...or...

CSW is about to employ mad ninja judo skillz, to redirect bitmain's hash power to stall the BTC chain. Perhaps. (?)

In terms of known hash power, Bitmain's dwarf's CSW's - at least when you include that currently devoted to BTC. However, CSW has always had enough hash power to achieve his objective.
At the 2017 Aug fork, he had enough to mine the first blocks ensuring the viability of the BCH chain.
In the last few days, his hash power has ballooned to large majority for SV on the BCH chain.
Does he hold more in reserve? How much?

We know Bitmain holds a lot of BCH. This would indicate a commitment to ensure the ongoing viability in BCH. They currently advocate ABC. If they retain that commitment, things could get interesting.

CSW has indicated his intent to bury the ABC fork under the SV fork. In the case that he controls previously-unimagined hash power, currently in stasis...

CSW could deploy just enough hash power to indeed 'bury' the ABC fork. If Bitmain stays committed to the ABC fork, they would need to redirect hash power from BTC to BCH/ABC. Assuming again that CSW has quasi-unlimited hash power in reserve, he can continue to deploy additional hash power to keep ABC buried. In order to ensure the continued viability of ABC, Bitmain would need to redirect yet additional hash power from BTC to BCH. Bitmain in this manner could possibly be drawn into redirecting most or all of its hash power from BTC to BCH.

If Bitmain's hash power is redirected from BTC to BCH, what happens to the BTC chain? Is this enough to stall the chain? When is the difficulty retargeting?

If enough hash power is pulled from the BTC chain, this will slow down tx processing appreciably. This could be accompanied by a large volume of small-value txs (sometimes referred to as 'spam txs'). The BCH community has already developed flooding tools used in the Gigablock Test Initiative. This combination could crowd other activity out of the chain, making it economically non-viable. The net result would be rendering the BTC chain useless for economic activity. If sustained, possibly followed by chain death.

I am not attaching any sort of probability to the above scenario. But it is an interesting thing to think through.

thanks

[Ibian]

Nocoiners must also not be investors. Because under the mantra of "buy low, sell high", then every asset in life would be considered a ponzi by their definition.

Although personally, I abhor the idea of selling bitcoin back for fiat. Especially since I went through all the trouble of obtaining it in the first place. I'd rather be able to spend it for everything, including paying bills and taxes with it. The only reason I would ever sell bitcoin for fiat is if I couldn't purchase the good or service I needed with bitcoin directly.

Some of you hypocrites are talking out both sides of your ass though. You can't square spouting out "Bitcoin is money, and better than fiat! Fuck banks!" while also muttering "I can't wait for the next ATH so I can cash out [to fiat]!" Those two philosophies are diametrically opposed, in case you were wondering.  

Complementary, is the word you are looking for.

[Yaplatu]

 

[infofront]

...or...

CSW is about to employ mad ninja judo skillz, to redirect bitmain's hash power to stall the BTC chain. Perhaps. (?)

In terms of known hash power, Bitmain's dwarf's CSW's - at least when you include that currently devoted to BTC. However, CSW has always had enough hash power to achieve his objective.
At the 2017 Aug fork, he had enough to mine the first blocks ensuring the viability of the BCH chain.
In the last few days, his hash power has ballooned to large majority for SV on the BCH chain.
Does he hold more in reserve? How much?

We know Bitmain holds a lot of BCH. This would indicate a commitment to ensure the ongoing viability in BCH. They currently advocate ABC. If they retain that commitment, things could get interesting.

CSW has indicated his intent to bury the ABC fork under the SV fork. In the case that he controls previously-unimagined hash power, currently in stasis...

CSW could deploy just enough hash power to indeed 'bury' the ABC fork. If Bitmain stays committed to the ABC fork, they would need to redirect hash power from BTC to BCH/ABC. Assuming again that CSW has quasi-unlimited hash power in reserve, he can continue to deploy additional hash power to keep ABC buried. In order to ensure the continued viability of ABC, Bitmain would need to redirect yet additional hash power from BTC to BCH. Bitmain in this manner could possibly be drawn into redirecting most or all of its hash power from BTC to BCH.

If Bitmain's hash power is redirected from BTC to BCH, what happens to the BTC chain? Is this enough to stall the chain? When is the difficulty retargeting?

If enough hash power is pulled from the BTC chain, this will slow down tx processing appreciably. This could be accompanied by a large volume of small-value txs (sometimes referred to as 'spam txs'). The BCH community has already developed flooding tools used in the Gigablock Test Initiative. This combination could crowd other activity out of the chain, making it economically non-viable. The net result would be rendering the BTC chain useless for economic activity. If sustained, possibly followed by chain death.

I am not attaching any sort of probability to the above scenario. But it is an interesting thing to think through.

thanks

jbreher deserves to be crowned, as he is clearly at the helm of BCH theorycrafting.

[xhomerx10]

is crypto done ??  

 Don't worry, these hats are guaranteed to last a lifetime. ^*  



 Avatar-sized

https://i.imgur.com/CBAx5Qu.jpg <- not correct

^* The lifetime of a common housefly.

 

edit: the avatar-sized image was flawed.  It was 120X81 and it needs to be 120X80 so you get to take advantage of the lifetime guarantee!

Avatar-sized

[bitserve]

WTF?! Ethereum Classic is not a clone, it's the real Ethereum!

[bitserve]

is crypto done ??  

 Don't worry, these hats are guaranteed to last a lifetime. ^*  

 Avatar-sized




^* The lifetime of a common housefly.

 

Amazing hat! It looks absolutely great even in small size.

[HairyMaclairy]

WTF?! Ethereum Classic is not a clone, it's the real Ethereum!

That’s just like, your opinion, man

[bitserve]

WTF?! Ethereum Classic is not a clone, it's the real Ethereum!

That’s just like, your opinion, man

Vitalik Vision bro!

(before he went nuts and decided it was ok to fork for reversing transactions... so much for immutability!)

[Ibian]

Even the most noble cause is going to attract degenerates. But with every crisis we grow stronger. Unpleasant as it is.

[elrippos friend]

Love that one 

[El duderino_]

WTF?! Ethereum Classic is not a clone, it's the real Ethereum!

That’s just like, your opinion, man

Mmmm a dude-ish opinion, gonna take Some new beverages and get ready for the second movie.....
A lot happend i see
V8 already go decepticon already
A New hat created
Few hat-ish word games
BUT
BTC
Still boring as F***

[Yaplatu]

[...]
BUT
BTC
Still boring as F***

The calm before the storm 

[Ibian]

Update on my bank situation. I can no longer deposit fiat. Like, at all. No idea how to even pay the fucking rent once the money in my account runs dry.

I can, however, sell coins on kraken and withdraw to my bank from there. No problem at all. It's almost like they want me to get rid of them.

[Last of the V8s]

*dekulakisation intensifies*

[El duderino_]

is crypto done ?? 

No i guess

But your avatar is “perhaps”

Just saw XhomerX Made Some cool shit with that avatar