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

[HI-TEC99]

Yup. BCH, in the form of SV, is midway through demonstrating that:
- so-called 'nodes' don't matter
- miners decide, restrained only by the threat of users abandoning the chain
- forks can be just an upgrade mechanism - decisively, if backed by hash
- the most proof of work chain matters

But what doesn't seem to matter is actual user adoption, merchant adoption, investor interest, anyone really giving a shit, etc.

Sez you. The SV team says different. They have a realistic plan for widescale adoption. Meanwhile, Core is drinking 'chamapaign' at $50 tx fees.

Tittie coin had a realistic plan for widescale adoption, but it didn't work.

[alevlaslo]

[Astargath]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

[QuestionAuthority]

What happened? I thought you people were bitcoins first line of defense? Why are you all sleeping on the job?

Because you aren't wearing a hat.

Damn, I hate it when I’m the problem.

[Topbanker]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

Its the same impact as a president tweeting something about any company.

[jbreher]

So you back the SV camp?  

I have a slight preference for the SV branch of the fork, this is true. Emergent consensus on the block size, restore the original opcodes, eliminate churn of pie in the sky, dev driven, so-called 'innovation' with no proven value (more properly, 'lets throw it against the wall, and see if it sticks'). Check.

I could have lived with the ABC fork, probably. At least it would be free of The SegWit Omnibus Changeset trojan. But what with 'benevolent dictator' calling for preparing an emergency PoW change... just no fucking way.

Personally I think Monero is much closer to "Saatoshi's Vision" than anything CW has anything to do with...

I think you are way past cracked out. I like Monero as well. But I have no delusions of it being anything near closer to satoshi's vision. Make the case for me?

[fabiorem]

Uncle Craig is about to dump bitcoin to $1k!
https://twitter.com/ProfFaustus/status/1062751765601361923

At least he's a nice guy, wishing us all a nice day.

A nice day for mass suicides.

[infofront]

Interesting thread on Squire Mining (nChain's mining operation)

TLDR:

... Soooooo now we can tie it all together and we can see that Squire Mining is really just a mineral mining company who is BUYING pre-fab ASICs constructed by Gaonchips and is pretending like somehow that production line can compete with @BITMAINtech.

[HairyMaclairy]

Ummm fuck.

I go offline for a few hours and come back to a ton of new money in my account and find out I am now in a long position.

It’s clearly been an interesting day.  Putting some stop losses in under the lowest point of the dip but somehow don’t think I will need them.   Up from here, at least for the next couple of days. 

[bitcoinPsycho]

I blame Bcash 

[theymos]

"Craig Wright says he has an exploit to take down Bitcoin (BTC) by end of 2019. Does he? Or all talk?"

https://youtu.be/4TOnHAlI_Vg

WTF? I hope it's just Craig Wright talking out of his ass...

CSW's whole thing is to exploit how people tend to believe that things aren't total lies. So when he says he's Satoshi, people think "Well, I don't believe he's Satoshi, but maybe he knew Satoshi". Or "He failed to destroy BTC with mining power like he said he would last year, but maybe he still actually has a bunch of mining capacity hidden away somewhere." Or "There's no technical way for him to irrecoverably screw with SegWit transactions, but maybe he found some bug somewhere."

But really he's completely full of shit; the vast majority of claims he makes are complete lies from front to back. (And often just a tiny bit of research will make this obvious.)

[infofront]

I think you are way past cracked out. I like Monero as well. But I have no delusions of it being anything near closer to satoshi's vision. Make the case for me?

It's hard to have "digital cash" without fungibility.

[El duderino_]

What happened? I thought you people were bitcoins first line of defense? Why are you all sleeping on the job?

No just not behind my computer @the moment and had Some important shit to do today
Almost home

But in here we all know the DRILL just cry untill the price go’s up again....

But same time discuss HAT’s-BTFD’s-HODL-see the long term big picture-.......-etc......

[El duderino_]

Didn’t work out good LAZY as f*** today

The poll looking wrong again for me

[QuestionAuthority]

What happened? I thought you people were bitcoins first line of defense? Why are you all sleeping on the job?

No just not behind my computer @the moment and had Some important shit to do today
Almost home

But in here we all know the DRILL just cry untill the price go’s up again....

But same time discuss HAT’s-BTFD’s-HODL-see the long term big picture-.......-etc......

Oh, well if that’s all that’s needed to increase the price I’m sure you guys can handle it.

[Astargath]

So all of this crash was because 2 guys and some more are fighting on twitter over hash power? Ridiculous market.

Its the same impact as a president tweeting something about any company.

But there is a difference from 1 company and a whole international 24/7 market, isn't it? Plus these are supposed to be currencies. It's ridiculous.

[JayJuanGee]

[edited out]

Are you persuaded that Bitcoin is reacting negatively to the fork ?



Maybe one day you will listen to me

I read your posts and frequently account for their ideas (which seems to be good enough for "listening").  What more you expect me to do?  Moderate my trading strategy?  or some other drastic means?  Kiss your feet?

Merely because something, such as lowering btc price, is currently happening does not mean that it was inevitable or even greater than a 50% chance before it happened... or even that it was caused by whatever event that you are attributing to it.   

So I would not become too self-congratulatory and smug if I were you, and like I must have said a zillion times, I am more into questioning predictions that seem to be putting out too high of certainties on future events, and also my own predictions in terms of the next leg frequently tend in the 40% to 60% range, so I am rarely making bold statements, and surely the more legs out, the less confidence that I tend to have, so of course, the probabilities go down... even though my overall long term effervescent presumption about bitcoin remains with other BTC HODLers and accumulators that the future price is going to be higher than its current price.

In other words, your irresistible urge to say "I told you so" is not getting a lot of ear traction with me, even though it got me to write a relatively lengthy response.   

[xhomerx10]

What happened? I thought you people were bitcoins first line of defense? Why are you all sleeping on the job?

Because you aren't wearing a hat.

 Hey, I tried but that JJG amount of text in his avatar is no legible once shrunk to the proportions of the hat even with some creative text compression.

[d_eddie]

Easy, guys. A bit of turmoil. In my opinion, this is related more to the BCH toothache than to BAKKT, though it doesn't really matter. This is the good shakeout we all needed.

The easy way to take advantage - buy the dip without looking for the bottom. Keep that dollar cost average going.

The harder way: short some BCH since 1-2 weeks ago. The hardest way: short some BTC too, but be ready to take profit or stop loss quickish.

I think end of year will be a sweet time.

Everything strictly SOMA, but my money is always where my mouth is.

[HI-TEC99]

"Craig Wright says he has an exploit to take down Bitcoin (BTC) by end of 2019. Does he? Or all talk?"

https://youtu.be/4TOnHAlI_Vg

WTF? I hope it's just Craig Wright talking out of his ass...

CSW's whole thing is to exploit how people tend to believe that things aren't total lies. So when he says he's Satoshi, people think "Well, I don't believe he's Satoshi, but maybe he knew Satoshi". Or "He failed to destroy BTC with mining power like he said he would last year, but maybe he still actually has a bunch of mining capacity hidden away somewhere." Or "There's no technical way for him to irrecoverably screw with SegWit transactions, but maybe he found some bug somewhere."

But really he's completely full of shit; the vast majority of claims he makes are complete lies from front to back. (And often just a tiny bit of research will make this obvious.)

If he had an exploit to take down Bitcoin (BTC) he would use it today. Why wait for months before using it?