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

[Toxic2040]

Good afternoon all.

Consolidation has dominated the market place as bitcoin continues to trade in a narrow range. The price has stalled in the $3.6k area after having a significant $300+ gain on Friday. I believe that the coming week will see increased volatility and price action as the Bulls try to capitalize on the growing feeling that the bottom has been sighted. Especially worth noting is the weekly chart, which is still showing continued room for significant upside recovery if resistance at $3.68k can be broken. #dyor

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#stronghands'19

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[bitserve]

https://twitter.com/brian_trollz/status/1094673219968253955
thread oh about the next UASF
nb it's not just Lukejr advocating

Reluctant to give this too much airtime because it will just bring out the trolls.

They are hypothesizing about a collapse in hash rate due to reduction in miner awards at sone future unknown date. So they want to take radical action now to reduce the block size to 300kb. But the hash rate is near ATH.  

It’s hard not to interpret this as just a miner money grab.  Don’t fix what ain’t broke.  Focus on Schnorr and Lightning and other important shit.

I have zero enthusiasm for more block size wars.  If an urgent need develops in the future let’s look at it then.  We don’t need to fix theoretical non-existent problems now.

That's the problem with having nocoiner devs. They don't fucking understand nor care about economics.

* Which doesn't mean they are not great DEVS.

[HairyMaclairy]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

I have yet to see a convincing argument that the current system is broken.  It’s all pie in the sky stuff.  

Lighting will keep the chain size down.  Just give it a chance.

[Last of the V8s]

I'm not advocating, just pointing it out, but I don't see this push going away.

[machasm]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

I have yet to see a convincing argument that the current system is broken.  It’s all pie in the sky stuff.  

Lighting will keep the chain size down.  Just give it a chance.

I don’t think we need to worry too much about this at this point either.
I appreciate the forward thinking but believe that we need to allow BTC to mature before we look at doing anything with block sizes which might further jeopardise BTC’s adoption.
Give LN a chance to get further established and see where we are at a bit further down the road.
Who knows, someone might come up with a better idea than reducing block size to incentivise miners?

[P_Shep]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

I have yet to see a convincing argument that the current system is broken.  It’s all pie in the sky stuff.  

Lighting will keep the chain size down.  Just give it a chance.

I don’t think we need to worry too much about this at this point either.
I appreciate the forward thinking but believe that we need to allow BTC to mature before we look at doing anything with block sizes which might further jeopardise BTC’s adoption.
Give LN a chance to get further established and see where we are at a bit further down the road.
Who knows, someone might come up with a better idea than reducing block size to incentivise miners?

If miners go out of business due to block reward reduction, then that's down to their poor planning. It's not like the reductions and the timing of them hasn't been clearly laid out 10 years ago.

[HairyMaclairy]

[HairyMaclairy]

I'm not advocating, just pointing it out, but I don't see this push going away.

Fair nuff.  I see this as a social attack and we just need to innoculate ourselves.

[encycrypto]

Buy more!

This 27-year-old South Korean is keeping a secret from his parents: His cryptocurrency debts are in the tens of thousands of dollars. His plan? Buy more.

https://www.nytimes.com/2019/02/10/business/south-korea-bitcoin-cryptocurrencies.html

[bitserve]

it's much more about the mesh network stuff, keeping the chain size down. the fee market problems are way off
i agree it's early even for that former though

I have yet to see a convincing argument that the current system is broken.  It’s all pie in the sky stuff.  

Lighting will keep the chain size down.  Just give it a chance.

I don’t think we need to worry too much about this at this point either.
I appreciate the forward thinking but believe that we need to allow BTC to mature before we look at doing anything with block sizes which might further jeopardise BTC’s adoption.
Give LN a chance to get further established and see where we are at a bit further down the road.
Who knows, someone might come up with a better idea than reducing block size to incentivise miners?

If miners go out of business due to block reward reduction, then that's down to their poor planning. It's not like the reductions and the timing of them hasn't been clearly laid out 10 years ago.

If miners do not earn enough to sustain their business, then the less efficient ones close until the point the remaining ones survive. If miners think they need additional fees they can raise them.... until a point where other more efficient miners establish them lower and get all/most the business.

I suppose offer and demand is not explained in computer science degrees?

[Biodom]

Not sure what to make of it.
Does he think that it is over already?
If not, than there was no event like the blowup of two Bear Stearns hedge funds (in 2007) yet.
We shall see.

[LFC_Bitcoin]

Wonder what the chances of breaking $4,000 this week are?

I think when we finally get above $6,000 again (whenever that is) we can call that the very early beginning of the next bull run. I think we’ll break $6,000 towards the end of 2019. It’d be great if we climb slowly towards that figure. I’d love to be able to buy another 4 or 5 bitcoin’s before it gets to the stage where it might be unaffordable to buy whole one’s again.

As usual gentlemen please make sure you’re accumulating now. These prices will be laughed at in a couple of years. Total once in a lifetime opportunity now to set yourselves up forever as financially comfortable.

Go BTC Go !!!!!!

Edit - BTW, I’m sorry for being disloyal gentlemen but I bought some GRIN a couple of hours ago.

[Biodom]

Wonder what the chances of breaking $4,000 this week are?

I think when we finally get above $6,000 again (whenever that is) we can call that the very early beginning of the next bull run. I think we’ll break $6,000 towards the end of 2019. It’d be great if we climb slowly towards that figure. I’d love to be able to buy another 4 or 5 bitcoin’s before it gets to the stage where it might be unaffordable to buy whole one’s again.

As usual gentlemen please make sure you’re accumulating now. These prices will be laughed at in a couple of years. Total once in a lifetime opportunity now to set yourselves up forever as financially comfortable.

Go BTC Go !!!!!!

Edit - BTW, I’m sorry for being disloyal gentlemen but I bought some GRIN a couple of hours ago.

Watch out for the day when 1BTC exceeds 1BRK-A.
That would be a cause for celebration.
What are our chances within the next 10 years?
re grin; if Charlie would be able to incorporate that tech into ltc, I say that chances are better than even that it would be incorporated into btc (at some point, maybe as a sidechain).

[HairyMaclairy]

Watch out for the day when 1BTC exceeds 1BRK-A.
That would be a cause for celebration.
What are our chances within the next 10 years?

A bit tough in 2021.  Probable by 2025.

[HairyMaclairy]

Not sure what to make of it.
Does he think that it is over already?
If not, than there was no event like the blowup of two Bear Stearns hedge funds (in 2007) yet.
We shall see.

It’s a bit of a joke.  He is saying the bear market has been so strongly predicted that it won’t happen.

[Last of the V8s]

crypto's back baby

[goldkingcoiner]

Buy more!

This 27-year-old South Korean is keeping a secret from his parents: His cryptocurrency debts are in the tens of thousands of dollars. His plan? Buy more.

https://www.nytimes.com/2019/02/10/business/south-korea-bitcoin-cryptocurrencies.html

His only choice is to 3D-Print himself some money.


Lol JK he is going to commit suicide by 6 shots to the head

[HairyMaclairy]

Also, we are bringing booty back

[El duderino_]

Sesh ended.... my best one from last few weeks, combined with that green dildo= happy sunday

[crypmike]

This is so important... rly?