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

[QuestionAuthority]

Or "He ... still actually has a bunch of mining capacity hidden away somewhere."

Oh. Would you look at that. Turns out that he did.

You don’t like theymos much, do you? LOL

Relevance? Never met theymos, so I don't have any basis upon which to like or dislike him or her.

I was just pointing out that theymos' blanket statement was erroneous.

Anyone can control bitcoin if they have enough money and the desire to do it. But who is stupid enough and has that much money to throw away? hash power=money.

In my experience, stupid people rarely amass much money. Lacking knowledge of the contrary, I would venture to speculate that an incidence of a stupid person amassing enough money to steer a $100B market is unprecedented.

Just some of the things you’ve said in the past. Maybe I should change that to “agree with him” instead of like.

Yes, it’s almost impossible to control $100b market by purchasing btc directly. Hash power is a lesser figure. Still tons of money but not $100b.

Stupid people don’t amass much money? Have you heard of Donald Trump and Paris Hilton?

Both born into it. What's your point?

Bitcoin is easy to control.

SEC disapproval of Winklevoss ETF:

“The Winklevoss ETF proposal was rejected because the SEC found that the significant markets for Bitcoin tend to be unregulated overseas markets that are potentially subject to price manipulation.”

Who gives a ratt's ass what SEC finds or says or approves or disapproves?

I’m pretty sure the SEC cares and I know the Winkledouches care.

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[Febo]

Craig Wright is tweeting literally every 10 minutes tonight


Dr Craig S Wright @ProfFaustus
Well. In 2017 I said there was a MAJOR issue with SegWit.

In mid to late 2019, I will explain it.

It cannot be removed. It cannot be fixed. It is not solvable and, you cannot work around it.

Sorry. You allowed Core to kill BTC.

I did try and stop you.

He tweeted this few days ago

https://twitter.com/ProfFaustus/status/1061229656081350656



It is same shit. This tweet it is an attack itself.  ICO style pre announcement of an announcement.

[Rosewater Foundation]

I guess we're all shitcoiners now. Good thing I had no faith to lose.

[El duderino_]

[lightfoot]

Look at that, bitcoin's on sale today. What's the occasion?

[Rosewater Foundation]

Look at that, bitcoin's on sale today. What's the occasion?

The kids think we're shit. It makes a difference.

[jojo69]

I think, when these guys get to a certain level of super rich, they start getting into the really "good" drugs.

The delusions of grandeur serve them...for a while...and then they just totally lose it.

So CSW has singlehandedly hacked all privacy coins of note, mmmmmmmkay Craig, isn't it time for your shot?

[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.

It’s only ridiculous because we implemented all those Wall Street regulations to avoid market manipulation.

Who is the "we" that you talk about?

And what are all of the supposed "wall street regulations"?

Bitcoin is hardly regulated...

Of course, regulators try to make some kyc and aml requirements, and they are going to continue to try to make more and more regulations to fit round pegs in square holes, and they may even customize some regulations to bitcoin and to other cryptos and even ICOs.

So far the kyc and aml regs have to do with on and off ramping from fiat and through bank regulated exchanges... Hardly applicable to overall bitcoin claims, right?  No general regulatory body covering world wide, either. 

Are you trying to sugguest something more meaningful about what is going on in bitcoin and various sporadic regs than making vague references to an ongoing desire of various governments (and likely traditional financial institutions) to regulate that some people might have? 

But that would hardly qualify as a "we" would it?  Neither in kind of regulation nor amount of regulation.  What am I missing about your seemingly vague point?

I didn't understand it either. I don't know at which point we implemented any sort of regulations to stop market manipulation. I don't even see how that would be possible without fucking up the whole concept of cryptocurrencies.

[jbreher]

Jihan exactly knows how much hashpower they do have in total.

::*ahem!*:: Speculation based solely upon allegations not yet entered into evidence. By what mechanism do you think Jihan knows their total hash power?

Craig Wright said they bought the machines from Jihan and it was the majority of Bitmain sales during Q1. I assume Jihan knows how much they sold and its combined hashpower.

Did he say that that was all the hashpower they acquired? Or merely that they acquired the majority of Bitmain's Q1 output? Two different things.

not sure if relevant (not really reading your posts now lol) or true, but this was being bandied about on hashpower
https://twitter.com/BryceWeiner/status/1062689549468364800

^^One sketchy counterexample of unknown provenance entered into evidence to buttress the possibility that the Q1 Bitmain output totality story is not the totality of the story.

[Astargath]

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

This is crypto. Hash power is The Power.

"They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."

- SN, Bitcoin: A Peer-to-Peer Electronic Cash System

So much for decentralization.

Ah, yes. 'Decentralization'. A means to an end that many have confused with the ultimate end. And a term that appears exactly zero times in aforementioned white paper.

That's ridiculous.

Now decentralization is not important?

That's not what I said at all. What I am trying to say is that decentralization is not the holy grail. Decentralization is merely a means to an end. Decentralization is valuable only in that it serves the ability to transact in a permissionless trustless manner.

Seems like bitcoin's pow is of central importance in bitcoin

Absolutely. A principle that has never been tested in practice. A principle that is seemingly about to be demonstrated conclusively.

To be honest, it's not. No one even cares about it anyways. Almost no one. Look at all the exchanges, all of them are centralized, the ones that are decentralized have 1000$ in volume.

[Icygreen]

Worst sleep in a long time.

That bitcoin paranoid app sounded off at full volume no less than 4 times.  Checked prices during a bathroom break, fuck.....  Check WO... holy shit,  page count is the only bullish thing going. Finally fell back to sleep only to have frustrating dreams of almost getting laid.  
And all of my triggered buy orders are now underwater.
Dare I try to sleep again.  
But I'm still smiling!

[Syke]

He tweeted this few days ago

https://twitter.com/ProfFaustus/status/1061229656081350656

https://screenshotscdn.firefoxusercontent.com/images/41b588c3-2d24-4186-86a9-ab6583cb2ab1.png

It is same shit. This tweet it is an attack itself.  ICO style pre announcement of an announcement.

Put up or shut up. Preferably the latter.

[Last of the V8s]

https://bitcointalk.org/index.php?topic=44189.0     
Should the Community ban people Like btcexpress, when they screw over everyone?
nothing new under the sun

[JayJuanGee]

Or "He ... still actually has a bunch of mining capacity hidden away somewhere."

Oh. Would you look at that. Turns out that he did.

Believe it when we see it.

How's 2/3 of the network - up from considerable minority days ago.



https://cash.coin.dance/blocks/today

Oh too late! You didn't close your eyes fast enough.

There is none so blind as he who refuses to see.

Yep.  There can be a flash of hashpower, and then a question whether the hashpower is sustainable, so even if you can answer questions of ready and able to deploy in the affirmative, you may not be able to answer the questions about willing to deploy until you see the hardfork actually occur.. .that is if such hardfork actually does take place. 

So, I am not going to treat a maybe and a perhaps as if it already has happened when it has not happened, yet.  You can also tell me that I am wrong.. blah blah blah... but that is just the way I roll in terms of not assigning 100% to events that might only be 75% or 85% or 95%, if we are going to give them some benefit of the doubt that they really are going to do what they say they are going to do.

[JayJuanGee]

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

This is crypto. Hash power is The Power.

"They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism."

- SN, Bitcoin: A Peer-to-Peer Electronic Cash System

So much for decentralization.

Ah, yes. 'Decentralization'. A means to an end that many have confused with the ultimate end. And a term that appears exactly zero times in aforementioned white paper.

That's ridiculous.

Now decentralization is not important?

That's not what I said at all. What I am trying to say is that decentralization is not the holy grail. Decentralization is merely a means to an end. Decentralization is valuable only in that it serves the ability to transact in a permissionless trustless manner.

Seems like bitcoin's pow is of central importance in bitcoin

Absolutely. A principle that has never been tested in practice. A principle that is seemingly about to be demonstrated conclusively.

Why u drama so muchie, jbreher? 

There is no major pending test that is imminent in bitcoin.  There is shenanigans in bcash, and there are various hyperbolic points about bitcoin being defective in various kinds of supposed ways, but really the proof of work in bitcoin has been an amazing feature that continues to prove itself.  Yes.  Go ahead and divert hashing power, and let's see?  There has already been quite a few tests of bitcoin in regards to hashing power incentives, and I will not discount that bitcoin will continue to be challenged in terms of whether its POW is going to keep the incentives and the ongoing building of bitcoin hashing power - even during periods of miner attacks and diversion efforts on chains with similar algorithms. 

So far bitcoin's pow has been working quite well, even while you (and your buddy craig) want to suggest that bitcoin is broken in some kind of way or that you have some kind of Ace in the hole that you are going to be able to pull out to show bitcoin as being defective in some way.  Again, I will believe it when I see it.. otherwise, bitcoin seems to be quite the wonderful innovation that continues to have great alignments of incentives while being able to stave off ongoing attacks.. at least, so far.

[d_eddie]

What plans are there for block explorers and electrum wallets for the new forks? The SV and ABC websites only seem to offer qt wallets. I can't find anything for everyday people, only stuff for miners and full node hosters.

Hmm. I thought the core narrative was that everyone should run a fully-validating non-mining wallet (often mistakenly called 'full nodes'). No? Say it isn't so!

Not if the blocksize is out of control.

[JayJuanGee]

Exactly. By the chain that wins the upcoming BCH hash battle. Bitcoin Cash implementing the SV consensus rules.

The hashrate fight has not even started yet. All we are watching are preliminary intimidation movements. I would not count a winner just yet.

True enough. Though if momentum be any valid indicator...

Where's the ABC white knight? Is bitmain going to stop mining BTC in order to mine their fork?

They certainly could be holding back on mining power, too, in order to strategically deploy it.  You should know that much, at least.   

[d_eddie]

Craig Wright is tweeting literally every 10 minutes tonight


Dr Craig S Wright @ProfFaustus
Well. In 2017 I said there was a MAJOR issue with SegWit.

In mid to late 2019, I will explain it.

It cannot be removed. It cannot be fixed. It is not solvable and, you cannot work around it.

Sorry. You allowed Core to kill BTC.

I did try and stop you.

He's getting fuller and fuller. I hope he bursts far from the fan.

[Ibian]

What plans are there for block explorers and electrum wallets for the new forks? The SV and ABC websites only seem to offer qt wallets. I can't find anything for everyday people, only stuff for miners and full node hosters.

Hmm. I thought the core narrative was that everyone should run a fully-validating non-mining wallet (often mistakenly called 'full nodes'). No? Say it isn't so!

Not if the blocksize is out of control.

I think even Satoshi said somewhere that it's not realistic in the long term?

[d_eddie]

So I would not become too self-congratulatory and smug if I were you

Good advice. I will probably eat dirt on the next trade.

I had been waiting for a long long time to put on a sizeable leveraged short if it went under the trendline at 6050-6100 or so, thinking it would go very fast all of a sudden, yet when the moment came... I just didn't. I just sold a little and then I thought, I will wait for a little while now, best not to make any rash decisions all of a sudden...  It continues to baffle me how my mind can play tricks on me.  Now I am left wondering why I didn't carry out my plan...

I feel you, man.

What works for me is setting up the orders in advance after working out the math (worst case analysis in particular). It's relieving, and once in a while you get a nice surprise - like Hairy, who said something about waking up to a handsomely plumped up account.