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

[chichidori]

yep.....looks like Craig Wright has gotten his way and will soon be in control of Bitcoin Cash after taking over more than 51% of the BCH network.

Absolute fucking lulz.

I have to imagine Roger Ver is literally in tears at this moment.

Babies are dying, etc...

Unless he really has BTC1MM (or whatever will be left after fighting ABC) and is actually insane enough to believe he can take on BTC i really don't see his end game. So Bitmain will unload their 1MM in bcashSV to him, and if we to believe that he already has 1MM in bcashSV that'll put him at over 2MM+ in bcashSV. A shitcoin with even less support than bcash and a ton of enemies WTF is he planning on doing with that?

His view is quite obv imo:

He builds a better product than the rest and therefore generates demand. If Reddit, Twitter or Bitcointalk like him or not won't be decisive for success or not.

Now you can obv disagree if the markets will agree with him or not or if he really will have a better product but you asked for his "plan" and here you go, that's his plan. 

Step 1 pretend Satoshi, Step 2 buy big into fork while cheap step 3 use some of the personal funds to intimidate during fork, Step 4 control shitcoin and pretend it's new Bitcoin Step 5 be richer than at step 1

 For faketoshi, I think it just comes down to this -

The dude does allegedly have a colossal fuckton of coinage is the only thing that really scares me, if it is some power trip and he has more Bitcoin than what he knows what do with it could be an issue. Especially if he is fine with exchanging it and spending it but not cashing out due to tax and tracking reasons.

If his going to do a power trip he should have done it when bitcoin price was on the high 19k, but the fact that his in control with such large amount is a bit scary.

[nanobtc]

Haven't seen this mentioned yet. From Coinbase:

"On November 15, we will pause Bitcoin Cash (BCH) trading, including the ability to send and receive BCH, while monitoring the outcome of a planned hard fork."

In their blog, there's several Q&A things, several of the A's start with, "We cannot predict xxxx"

[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?

You trying to assert that miners don't know their own business and their own hashing capabilities? 

No. Do try to keep up.

I am saying that one miner is unlikely to know the hash power capabilities of another miner, should second such miner have hash power yet undeployed.

[Paashaas]

Haven't seen this mentioned yet. From Coinbase:

"On November 15, we will pause Bitcoin Cash (BCH) trading, including the ability to send and receive BCH, while monitoring the outcome of a planned hard fork."

All the major exchanges ''favors'' ABC not SV because;

If this were a “clean split,” the two coins would be separated through a technical trick called “replay protection.” Transactions on one chain are invalid on the other, so (regular) users would be affected as little as possible.

But this will not be a clean split. While Bitcoin ABC implemented replay protection, Bitcoin SV copied this “protection” to cancel it out.

As such, transactions will look identical on both chains. This means that a Bitcoin ABC transaction can be re-transmitted (“replayed”) on the Bitcoin SV chain, having users accidentally spend both. And the other way around: Bitcoin SV transactions can be replayed on Bitcoin ABC. When Ethereum Classic and Ethereum split without replay protection in 2016, this caused significant losses to unprepared exchanges, like Coinbase. Therefore, this time many exchanges and other service providers will halt withdrawals and/or deposits for some time

https://bitcoinmagazine.com/articles/when-fork-forks-what-you-need-know-bitcoin-cash-goes-war/

Miners only lose money mining that shitcoin.

Enjoy the show 

[blacky90]

Is Craig Wright really satoshi nakamoto?
If so, he could send bitcoin price down to 1000usd

This is scary...

[Rosewater Foundation]

If so

...we will all eat our hats. Buffet style.

[BTCMILLIONAIRE]

If so

...we will all eat our hats. Buffet style.

I'm in.

[Kylapoiss]

Is Craig Wright really satoshi nakamoto?
If so, he could send bitcoin price down to 1000usd

This is scary...

[criptix]

BCH network power roughly equals to 5% of BTCs network power.

I dont see a hashrate problem for BTC.


Btw im pretty sure calvin is paying for all that fun, isnt he a billionaire?

[r1s2g3]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

Nah, that name's been taken.

BCash DEF? BCash XYZ? BCash 123? BCash Phoenix?  BCash SS (Slim Shady... get it?)

But then what if that too gets forked? Oh noes...it could go on, and on, and on, and...

BCash Phoenix.. LOL  ..

Bcash fork is maybe bad for BTC.
instead of one, now we need to deal with 2 impersonator of btc.

[DaRude]

Is Craig Wright really satoshi nakamoto?
If so, he could send bitcoin price down to 1000usd

This is scary...

Whether he is or not is really irrelevant, no one really cares about him, what's important is if he has access to Satoshi's private keys. The thing is, the market would crash hard the second a single satoshi is moved, on top of that he'd probably drown in lawsuits the second he tries to move that satoshi. So assuming his alleged BTC1MM holdings (most likely much less -lawsuits -bcash fork costs), at $1k it would require $1billion to completely buy him out of BTC and let him go play in his SV sandbox. This would be the ideal solutions as it's better to take a hit now and remove the risk at this stage. Which sort of baffles me, because of such high amount he knows his holdings are illiquid so buying up another mil from Bitmain + other ABC holders would make bcashSV so toxic no one with brain would touch it, regardless how great his ideas might be.

If he has the keys the SV fork should go smooth and he should be able to take over ABC easily with little effort. But I'm expecting his SV to be a failure which would just burn through cash (he's already cashing in BTC just to fork bcash) so he won't be able to sustain it for much longer, without tapping into those reserves.
But the most likely scenario is he doesn't have the keys, in this case he'd try to drag this game out as long as he possibly can trying to create as many controversies as humanly possible to try and stay relevant in this space.

[DaRude]

Can't wait until BCash SV gets forked. Wonder what they'll name it?

Bitcoin Cash.

Nah, that name's been taken.

BCash DEF? BCash XYZ? BCash 123? BCash Phoenix?  BCash SS (Slim Shady... get it?)

But then what if that too gets forked? Oh noes...it could go on, and on, and on, and...

BCash Phoenix.. LOL  ..

Bcash fork is maybe bad for BTC.
instead of one, now we need to deal with 2 impersonator of btc.

No that's not how things work. bcash fork is amazing for BTC. The more those players cash out of BTC now the better it is for bitcoin

[Rosewater Foundation]

We must be the laughing stock of Wall street. And that must be saying something. I can't even look anymore. God help us all.

[RejectedBanana]

This current fiasco is certainly underlining what a rich man’s game BTC has become.

Retail exchange volume has been dying all year:

Perhaps in part to the psychological barrier of a perceived high entry cost. Small time traders once willing to buy when bitcoin when it was a couple hundred bucks now seem to be balking at $5000, and that’s on sale! Maybe fractions of a Bitcoin just aren’t sexy enough.

Certainly this is also due in part to the shitastic quality of retail exchanges, from frustratingly inept (Coinbase) to down right shady (take your pick).

Meanwhile, institutions have been “scrambling” in typical slow-motion fashion to jump on board, either as service/product providers or investors. We know a great deal of Bitcoin has been exchanging hands OTC, for lack of a single decent institutional exchange. I suspect OTC volumes in 2018 have dwarfed exchange liquidity. But come 2019, this may be changing. Fidelity, Bakkt, perhaps an ETF or two may be entering the scene. Too little too late or just in time, it’s hard to say, but some sort of credible institutional exchange should be well positioned before the next halvening in 2020.

Which makes this current fiasco feel like one of the last gasp attempts for these JihanVerWright dickwads to have much of an influence on BTC price at all. Just imagine all the current retail and OTC volume combined with hopefully even more mainstream institutional investors jumping on board for the first time in large mega-exchanges the likes of Fidelity or Bakkt. How could they possibly compete?

A year from now or less, these wannabe tyrants and their petty forkery and overt (illegal, even?) price manipulation will be irrelevant.

But then again, so may be all interest in crypto, for all the negative attention these shenanigans are bringing.

[HI-TEC99]

yep.....looks like Craig Wright has gotten his way and will soon be in control of Bitcoin Cash after taking over more than 51% of the BCH network.

Absolute fucking lulz.

I have to imagine Roger Ver is literally in tears at this moment.

Babies are dying, etc...

Unless he really has BTC1MM (or whatever will be left after fighting ABC) and is actually insane enough to believe he can take on BTC i really don't see his end game. So Bitmain will unload their 1MM in bcashSV to him, and if we to believe that he already has 1MM in bcashSV that'll put him at over 2MM+ in bcashSV. A shitcoin with even less support than bcash and a ton of enemies WTF is he planning on doing with that?

His view is quite obv imo:

He builds a better product than the rest and therefore generates demand. If Reddit, Twitter or Bitcointalk like him or not won't be decisive for success or not.

Now you can obv disagree if the markets will agree with him or not or if he really will have a better product but you asked for his "plan" and here you go, that's his plan.  

Step 1 pretend Satoshi, Step 2 buy big into fork while cheap step 3 use some of the personal funds to intimidate during fork, Step 4 control shitcoin and pretend it's new Bitcoin Step 5 be richer than at step 1

 For faketoshi, I think it just comes down to this -

[Elwar]

So has it split yet? Where can I sell cash abc and cash sv for bitcoins?

[Lauda]

So has it split yet? Where can I sell cash abc and cash sv for bitcoins?

Not yet. You can follow the scam coin here:
http://hashwars.cash/
https://cash.coin.dance/

[realr0ach]

In my experience, stupid people rarely amass much money.

In my experience you are wrong.  This thread used to have a couple somewhat intelligent people in it and now it's almost entirely dumb money.  Anyone that traded shitcoins in the early days knows there's no such thing as easy money.  Bitcoin turned into a complete outlier situation and started providing lots of dumb people with lots of free money for a brief period of time.  Now the market probably wants to reach equilibrium again and take it all back.

I don't dislike Micgoossens or anything, but he's basically the world champion posterboy of dumb money.  JayJuanGee?  As dumb money as you can possibly get (if he's even a real person instead of a chat bot, probably not). Elwar? Either dumb money or just a bitcoin cultist with blinders on, take your pick.  Cultists and dumb money are mostly the same, I guess.  A cultist is someone who is unable to acknowledge shitcoins are supposed to derive value from decentralization, yet they're all designed to centralize and have absolutely nothing resembling a Nash equilibrium, so have no fundamentals to derive value from besides temporary regulatory arbitrage.

As for Boblawbaw?  He's not dumb money, he's more of a scammer.  If you look at post history, and I'm 100% not joking, he was telling EVERYONE to hold for days when the price was near $20k while he was dumping everything, then he typed some shit like "thanks guys, now I'm a millionaire".  It seemed like nobody else but me even commented on his actions, so this thread is even 10x more dumb money than you probably think.

[BigTeeths]

We must be the laughing stock of Wall street. And that must be saying something. I can't even look anymore. God help us all.

You sir has the most accurate prediction than those famous clowns( Tom LEE and the others) in crypto that says it  will go this or that combined. I thought I was strong enough to tolerate this dip after a couple of crashes in the previous months but I was wrong. I feel so weak and I don't like to talk to anyone for a while.

[realr0ach]

I think bitcoin has already proven itself to be useful as cash.

Bitcoin has also already proven itself to be useful to the FBI and IRS in helping them track transactions.

I'll just say that if I wanted to hide money from the tax authorities, buy contraband without physical cash, or just keep my economic activity private, I'd be using Monero.

I haven't kept up with every single thing Monero is doing, so I don't know if this is still accurate, but last time I checked, it seemed HIGHLY likely to me that in the event Monero's crypto was blown apart (and on a long enough timeline that seems to be inevitable), that it would be acting as a honeypot in practice and providing full linkability afterwards.  So, no, I would not be using any of this garbage to do illegal things with if I was a "criminal".

Anything 'blockchain' related is inherently anti-fifth amendment, anti-freedom, and pro-state control.  It's not possible for the coins to be fungible no matter what you do, and transaction validators are always designed to centralize, making them permissioned ledgers that are easy pickings to be run by the state.  The Zcash method is not a viable path of fungibility due to requiring trust in genesis creation and numerous other issues like fungibility being opt-in, too much overhead, unknown supply, etc.