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

[HairyMaclairy]

Oopsie.  5M charts for fun and profit.  






... this is a joke.  I don't chart 5M.

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[bitserve]

Oopsie.  5M charts for fun and profit.  

Those look like random lines there Hairy.

[kromer]

The crypto scene is the most "group think" thing I have ever encountered. Most of it stems from reddit, which is an easy-to-manipulate hive mind. There are even busineses that attempt to sway opinion using paid shills.

LOL, if you hang out here long enough, it will become abundantly clear that there is a multitude of alternative and conflicting opinions expressed here. I mean look at r0ach. A good portion of his posts are definitely not popular, yet a good portion of his posts remain. The moderation on Bitcointalk is actually quite light compared to reddit. Both the btc and Bitcoin thread there appear to be echo chambers.

The only thing I notice here is that everyone seems to hate BCH with a passion. It's understandable. If only there were one single definite strategy for scaling Bitcoin and maintaining decentralization, and therefore no need for multiple competing implementations. Then people wouldn't feel like they have to pick sides and defend their choices like their future depended on it.

[xhomerx10]

Speaking of trilema, what ever happened to Mircea Popescu?

I heard he got stranded on a deserted island.

[JayJuanGee]

some of the big block arguments resonate with me.

Retard

The typical ad hominem response I was expecting. It just proves my point about group think.

Seeing as I am a leftie, I will make it more PC for you.  Differently abled.

Retard or retarded is much better and more descriptive about what is really meant.

I'm retarded for keeping an open mind?

Your position is not an open mind, even if you are trying to present the position as such.. largely for the reasons that I already outlined.. and there may even be some other reasons.. but does not seem necessary to go down that path because it remains your burden to back up your bullshit, nonsense, retarded, position with facts and logic rather than my burden to show why you seem to be lacking (assuming that you really mean what you say rather than either being a paid shill, alt coin pumper or a disingenuine troll).

[HairyMaclairy]

Those look like random lines there Hairy.

Thatsthejoke.com  

Edit:  But if it was real TA, it would be predicting the failure of the break out.  

[bitserve]

Those look like random lines there Hairy.

Thatsthejoke.com

Babies are dying because of you joking.

[realr0ach]

I have spent much time doing my own investigation and came to the conclusion that I don't have enough information to predict with absolute certainty the best path forward in the long term, so I choose to keep all forks. I am a long term holder with no intention to ever sell my coins.

Don't bother arguing with these fools as 99% of them are too lazy to have done any due diligence themselves and just hope that someone else will work on bitcoin and it will somehow make them rich.  From memory, when I did the estimates way back in the day, I think I came up with bitcoin needing 8 MB blocks in the long run to function as a global settlement system where transactions of around $10k or more are viable.

Is 2 MB blocks + LN equal or better to that?  No.  LN is an even more centralized, more permissioned version of bitcoin where they seek to transfer all consumer payments to.  So you theoretically CAN transfer most bitcoin traffic there, but LN doesn't actually have anything in common with bitcoin in the first place.  It's a totally different system.  It's like replacing bitcoin with bitshares and pretending it's the same thing.  But when it comes down to it, bitcoin transaction validators are designed to centralize, nullifying any reason for it's existence, so there's no point in even discussing building any 2nd tier layers on it.

Discussing LN vs bigger blocks is like discussing what color to paint the Titanic.  It's 100% impossible to create a decentralized digital currency where transaction validators don't centralize.

[kromer]

some of the big block arguments resonate with me.

Retard

The typical ad hominem response I was expecting. It just proves my point about group think.

Seeing as I am a leftie, I will make it more PC for you.  Differently abled.

Retard or retarded is much better and more descriptive about what is really meant.

I'm retarded for keeping an open mind?

Your position is not an open mind, even if you are trying to present the position as such.. largely for the reasons that I already outlined.. and there may even be some other reasons.. but does not seem necessary to go down that path because it remains your burden to back up your bullshit, nonsense, retarded, position with facts and logic rather than my burden to show why you seem to be lacking (assuming that you really mean what you say rather than either being a paid shill, alt coin pumper or a disingenuine troll).

I'm keeping my mind open about which strategy is best for Bitcoin in the long term, in terms of a complex mix of decentralization and scalability. I think that it is too early to say for certain, especially since I do not have a deep understanding of the Bitcoin codebase. For example, I couldn't explain to you right now exactly how SegWit works. So for this reason I keep all forks instead of making a guess or going along with the majority.

[HairyMaclairy]

Because I have nothing better to do than shit post 5 minute charts

[realr0ach]

https://dailystormer.name/alabama-black-friday-sale-on-bullets-through-your-muffuggen-skull-nigga/

[JayJuanGee]

some of the big block arguments resonate with me.

Retard

The typical ad hominem response I was expecting. It just proves my point about group think.

I really despise the term "group think." Has it ever occurred to you that perhaps the reason the most popular opinion is popular is because it is the most compelling? Although it is true that sometimes the most popular opinion is dead wrong, it doesn't mean that every popular opinion is dead wrong and that I should only accept "alternate" theories. Every argument has to stand on its own merits.

The crypto scene is the most "group think" thing I have ever encountered.

Yeah because you seem to be seeing what you want to see, and then latch onto what you supposedly see in order to spin the nonsense to mean something more than it does.  You surely are acting like a great independent and critical thinker.  I am so proud of you, and grandma must be proud, too, that you are growing up so BIGGIE and so fast.

Most of it stems from reddit, which is an easy-to-manipulate hive mind.

This is not reddit... so who gives a shit.  Why don't you talk about your own non-backed up arguments rather than accusing others as having group think when you have not even made any kind of significant or meaningful point, beyond spouting out some talking point that you had heard on bitcoin.com.

There are even busineses that attempt to sway opinion using paid shills.

Again.. who gives a shit?  Of course, there are going to be paid shills, and you are spouting out some of their talking points in order to claim that such a thing exists... 

[d_eddie]

yup, looks still a bit bearish, but close to exhaustion at least for now.

I’m still short but have sharply deleveraged.  A short squeeze to $5k or even above is a real risk.

I see your point. I have cashed out part of it, and a short squeeze to 10k won't be able to upturn (liq) me.

[JayJuanGee]

I hate the word retarded. I prefer “special needs” or “developmentally disabled”.

Gizzer is all the word you need.

Gizzer? You mean geezer?

gentlemand is retarded because he failed and refused to learn to spell, and he got into bitcoin in the 3rd grade, defying all of his teachers.  

Edited:

Gizzer? You mean geezer?

Nope. Gizzer. With a hard G. Fly into Heathrow, say 'speed up, gizzer' to the immigration geezer and relish the reaction.

Oh fuck.. I've been schooled by someone who I had prematurely concluded to be retarded (I am so embarrassed by the direction of my attempt to joke)...    

[d_eddie]

These new accounts - newbs or not - are being a nuisance. The gentlemen here are restraining themselves quite a bit. Don't abuse our patience.

[jojo69]

I'm keeping my mind open about which strategy is best for Bitcoin in the long term, in terms of a complex mix of decentralization and scalability. I think that it is too early to say for certain, especially since I do not have a deep understanding of the Bitcoin codebase. For example, I couldn't explain to you right now exactly how SegWit works. So for this reason I keep all forks instead of making a guess or going along with the majority.

Jesus

will you just fuck off with this shit?

we have been over and over and OVER this ground ad nauseum

and then you wander in here cold and its all over again

[bones261]

Don't bother arguing with these fools as 99% of them are too lazy to have done any due diligence themselves and just hope that someone else will work on bitcoin and it will somehow make them rich.  From memory, when I did the estimates way back in the day, I think I came up with bitcoin needing 8 MB blocks in the long run to function as a global settlement system where transactions of around $10k or more are viable.

Is 2 MB blocks + LN equal or better to that?  No.  LN is an even more centralized, more permissioned version of bitcoin where they seek to transfer all consumer payments to.  So you theoretically CAN transfer most bitcoin traffic there, but LN doesn't actually have anything in common with bitcoin in the first place.  It's a totally different system.  It's like replacing bitcoin with bitshares and pretending it's the same thing.  But when it comes down to it, bitcoin transaction validators are designed to centralize, nullifying any reason for it's existence, so there's no point in even discussing building any 2nd tier layers on it.

Discussing LN vs bigger blocks is like discussing what color to paint the Titanic.  It's 100% impossible to create a decentralized digital currency where transaction validators don't centralize.

I'm not certain why you constantly belabor this point of decentralization. Satoshi himself already acknowledged this isn't going evolve into a perfectly decentralized system.

The current system where every user is a network node is not the intended configuration for large scale.  That would be like every Usenet user runs their own NNTP server.  The design supports letting users just be users.  The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate.

https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
The goal is to not allow any single miner or cartel to gain 51% control over the network. If 51% control is obtained than the system is totally vulnerable and is worth zero as p2p electronic cash.

If you don't believe me or don't get it, I don't have time to try to convince you, sorry.

[JayJuanGee]

The crypto scene is the most "group think" thing I have ever encountered. Most of it stems from reddit, which is an easy-to-manipulate hive mind. There are even busineses that attempt to sway opinion using paid shills.

LOL, if you hang out here long enough, it will become abundantly clear that there is a multitude of alternative and conflicting opinions expressed here. I mean look at r0ach. A good portion of his posts are definitely not popular, yet a good portion of his posts remain. The moderation on Bitcointalk is actually quite light compared to reddit. Both the btc and Bitcoin thread there appear to be echo chambers.

The only thing I notice here is that everyone seems to hate BCH with a passion. It's understandable. If only there were one single definite strategy for scaling Bitcoin and maintaining decentralization, and therefore no need for multiple competing implementations. Then people wouldn't feel like they have to pick sides and defend their choices like their future depended on it.

No one is picking sides, you diptwat.

Haven't you realized yet that bcash is a disingenuine bitcoin attack vector, and they are not serious about any of their supposed technical criticisms of bitcoin... they merely wanted to create divisiveness and confusion and to pump some project for their egos and own attempted cash grabs.  There is no there, there with bcash.. so get over your bullshit attempts to act like there is some possible legitimacy when it does not exist.  Most people who are half awake realize some variation of those points that I just made, by now, which includes a decent amount of members who are active in this particular thread (except you want to come in here and teach us your nonsense-which has been covered many times in this thread.. so don't try to suggest that you are either smarter than the rest of us or that you are adding some kind of value or bringing up anything new and interesting.. because you are not).   

[JayJuanGee]

some of the big block arguments resonate with me.

Retard

The typical ad hominem response I was expecting. It just proves my point about group think.

Seeing as I am a leftie, I will make it more PC for you.  Differently abled.

Retard or retarded is much better and more descriptive about what is really meant.

I'm retarded for keeping an open mind?

Your position is not an open mind, even if you are trying to present the position as such.. largely for the reasons that I already outlined.. and there may even be some other reasons.. but does not seem necessary to go down that path because it remains your burden to back up your bullshit, nonsense, retarded, position with facts and logic rather than my burden to show why you seem to be lacking (assuming that you really mean what you say rather than either being a paid shill, alt coin pumper or a disingenuine troll).

I'm keeping my mind open about which strategy is best for Bitcoin in the long term, in terms of a complex mix of decentralization and scalability. I think that it is too early to say for certain, especially since I do not have a deep understanding of the Bitcoin codebase. For example, I couldn't explain to you right now exactly how SegWit works. So for this reason I keep all forks instead of making a guess or going along with the majority.

Yeah, not only do you not understand the codebase (as you admit), you also don't seem to understand what differentiates bitcoin from other projects, whether those are forks or altcoins or ICOs or other purported imitator wannabes that fall quite short of the bitcoin mark.. think about sound money and network effects of bitcoin rather than getting caught up on dumb-ass and mostly irrelevant supposed distinctions based on code differences.

[xhomerx10]

Same chart zoomed out showing bear line.  Purple line is long term support from cryptowinter which we broke (ahead of schedule) before our latest drop.  We really should have waited until December before breaking it.  

yup, looks still a bit bearish, but close to exhaustion at least for now.
btw litecoin has already arrived to her "light blue line' during last run. I dont want to use it as leading indicator, but i take a look time to time for clues what to expect at major support lines.
And i hope bitcoin will stay at least one significant support level above ltc, so my potential minimal all-in level is between 2500-3000. but i'll buy some before that. even now im starting to have this fomo feeling

 Bitcoin moon will be as beautiful as
 Z --> Z² + C



Avatar-sized



edit: redo