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

[Ibian]

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.

That would destroy all faith in the system. You didn't even mention how any of the other brands would improve the situation. So your only scenario is a complete collapse of blockchain technology as we know it?

[jbreher]

Describe the scenario that would allow any of the other current "brands" of bitcoin to take over dominance without destroying global faith in the market.

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.

That would destroy all faith in the system.

Conclusion requiring support of facts not yet entered into evidence. IOW, 'Sez you'.

It ... may. Unlikely. More likely, it would destroy all faith in the Core-ian vision. Of course, seeing as SV and BCH both hew more closely to the original definition of Bitcoin than does BTC (especially SV), this provides a reasonably sound counter-narrative against 'Oh noes! Core is broken, so all Bitcoin was inherently doomed from the start'. Nay, such a situation would vindicate the large block position. The position that did not throw the baby out of the pram. The position that carried satoshi's experiment into the future without fuckitating it.

You didn't even mention how any of the other brands would improve the situation.

I described it over and over (and over, and...) BTC is the only Bitcoin fork that exhibits this flaw of a centrally-planned production quota capping persistent block size, let alone one set deliberately below any rational demand for tx capacity.

So your only scenario is a complete collapse of blockchain technology as we know it?

In order to make this assertion, you're either not reading what I am clearly articulating, or you are not thinking about those writings. (Or you are stupid, or dishonest - but that can't be the case, can it?)

[jbreher]

Well I'm more about that irrelevant shit

So I am coming to know.

Now these developers must believe he is Satoshi right?

I imagine some do, others do not. In fact, I am quite certain of that.

If not then why would they follow his ideas and paths on Bitcoin while all under the title of Satoshi's Vision?

Why do you assert they are following CSW's ideas and paths? One does not need to believe CSW is satoshi in order to believe that the original design of the Bitcoin protocol was correct. Working to maximize SW that interacts through that protocol is fully orthogonal to any belief of CSW-satoshi equivalence.

Now, would you like to talk about the scenario I have been challenged to outline -- upon which you have waded in with non-sequitur -- or are you just going to throw even more irrelevant shit?

[VB1001]

https://twitter.com/ChartsBtc/status/1100807812140023809


https://twitter.com/ChartsBtc/status/1100807812140023809

Max Supply 21.000.000 BTC

Circulating Supply 17.634.825 BTC

Losses +/- 4.000.000 BTC
(Lost wallets, thefts, dead people, hard drives ....)

BTCuy or you stay without.

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

Satoshi Nakamoto

[El duderino_]

mmmm paid shill's @ WO,

price in bearmarket/sharp downtrend = r0ach and same people posting @every page, claiming BTC = useless and has no value and only PM are the real thing etc...... not hearing him about the matter @ these times    

price in UP trend = r0ach, but then people as Jbreher comes a life trying to speak out @ every page that Bcash, ver, CSW are the real thing, Jbreher and other Bcash shill's will also be silenced about their matter as well.    


WO just know there is only ONE BTC.....

[jbreher]

This entire discussion is irrelevant it's the Bitcoin Wall Observation not the bastard alt fork wall thread.

This entire discussion is a result of you wading in quizzing me about what I think about CSW in response to this post of mine:

Blocks become persistently full. LN not ready for mass adoption. Bitcoin in its BTC form sheds economic support for use case after use case, until the point where the only use case supported is banks making international SWIFT-like settlements.

In the face of this, it becomes evident to the world at large that satoshi was right and Blockstream was wrong. In case you have forgotten, The SegWit Omnibus Changeset was also a change to to protocol. You don't get to claim that this was not a change.

In what way does my quoted post have anything whatsoever to do with anything but BTC?

The answer is obvious to all. It is absolutely, positively, completely on this topic of BTC. It was you whom inserted the irrelevancy of CSV, thereby using it as a wedge to insert your inane views on BCH and SV into the conversation. Your. Fucking. Doing.

[encycrypto]

The true bitcoin will always have the most hash power, BSV and BCHABC don't have that. They can be easily 51% attacked. So, only BTC = true bitcoin.

[El duderino_]

[bones261]

@jbreher So what is likely to happen if BCH-ABC or SV wants to implement another improvement of the protocol that a significant portion disagree with? Are groups of miners going to square off on two or more camps and cause more forks, each fork being less secure since each have less hash rate? Unfortunately, BCH only had fleeting moments in the beginning when it was more secure than BTC due to the EDA disaster and strip mining. Perhaps it would have been better if Bitmain and allies had decided to devote all of it's hash to the chain that they "believed" in, rather than trying to play double dipping games.

[sirsplashalot]

Bitcoin is whatever the largest amount of network power says it is. Your side lost, yogi.

I'd say it's more real marketcap, that shows who the majority believe is worth more and the "real" Bitcoin"

But what constitutes bitcoin, the project was released with one document, that has been completely disregarded and you call that Bitcoin based on a trading markets completely irrelevant to the project itself?

Oh my, are you serious!!!!!

You don't know what bitcoin is, sirsplashalot?  

You might be beyond repair....   You are trying to participate in a bitcoin thread, but you do not know what bitcoin is, yet?

Perhaps this thread needs at least a basic entry level questionnaire in order that peeps understand at least the existentialist part of bitcoin, which seems to be clearly resolved already... and gone over and over and over...

Go study a bit, sirsplashalot,** and then come back here with better and more thought out question(s).

** Hint:  you are not going to become more informed about "what is bitcoin" by participating in r/btc, getting your information from bitcoin.com or other bcash pumping information sources.. Many of those "information" sources are loosely connected to reality, at best.   On the other hand, if you are able to understand what you read (which seems a bit questionable at this point), you might be able to just follow this thread for a while or go back and read this thread more before you post any further nonsense?  Perhaps?

Hmm, seems like you have Segwit coin mixed up with Bitcoin.

[El duderino_]

[Toxic2040]

1h


W 50day MA

 its beautiful

[jojo69]

What happened to Rosewater Foundation?

We wish we knew.  Speculation that he may have been caught in Quadringa CX...

[Raja_MBZ]

Mt Gox giving out coins in the next few weeks? What gave you that idea?

Last I heard they were released in May 2019 from the settlement.

https://bitcoinist.com/mt-gox-creditors-bitcoins-next-summer/

well, says May/June 2019 for the above. Maybe more than a few weeks I guess...but still...

Mt Gox giving out coins in the next few weeks? What gave you that idea?

yeah, Gox creditors aren't seeing shit till Q4...if then

from what I understand the folk doing the liguidating are the ones wanting this wrapped up so they can get paid and move on....so who knows...
but it has drag'd on now what 3 years?

August would be better IMHO,  we will see

Will today's candle close above or below (ideal for bears) $5200? Next 3 hours are critical...

[JimboToronto]

What happened to Rosewater Foundation?

We wish we knew.  Speculation that he may have been caught in Quadringa CX...

I think he's too smart to keep coins on an exchange.

[jbreher]

@jbreher So what is likely to happen if BCH-ABC or SV wants to implement another improvement of the protocol that a significant portion disagree with? Are groups of miners going to square off on two or more camps

To the extent that each side is entrenched in their way forward, this would seem likely. Just as would be the case for a schism within the Bitcoin Core camp.

and cause more forks,

Perhaps. If one side defaults on the approach satoshi suggested -- colloquially known as a hash battle -- than a fork would seem inevitable. Again, just as would be the case for a schism within the Bitcoin Core camp.

each fork being less secure since each have less hash rate?

If neither side capitulates, yes. Again, just as would be the case for a schism within the Bitcoin Core camp. Of course, with a fairly pervasive narrative within Core of 'miners are evil', BTC may find other ways to lose hash security.

[bones261]

@jbreher So what is likely to happen if BCH-ABC or SV wants to implement another improvement of the protocol that a significant portion disagree with? Are groups of miners going to square off on two or more camps

To the extent that each side is entrenched in their way forward, this would seem likely. Just as would be the case for a schism within the Bitcoin Core camp.

and cause more forks,

Perhaps. If one side defaults on the approach satoshi suggested -- colloquially known as a hash battle -- than a fork would seem inevitable. Again, just as would be the case for a schism within the Bitcoin Core camp.

each fork being less secure since each have less hash rate?

If neither side capitulates, yes. Again, just as would be the case for a schism within the Bitcoin Core camp. Of course, with a fairly pervasive narrative within Core of 'miners are evil', BTC may find other ways to lose hash security.

But a schism for BTC is less likely because they usually implement some kind of voting mechanism to ensure that most are on the same page before implementing. Also, what is great about segwit is if you are a user or a miner and don't care for segwit, you can ignore/avoid segwit tx and still be part of the network. Unfortunately, if you are a miner who ignores/avoids canonical ordering, it's not possible for you to remain on the same network as BCH ABC.

[El duderino_]

come on BTC every minute = Critical !!!!!!!!!

[Toxic2040]

problem: bear talks to much
solution: feed bear more bitcoins until properly immobilized.
problem: solved.

------
imho i would have to say yep, thats a bounce not a skip
you can put the squiggle lines where you please but im with the purple and gold camp prevailing at the end of the day  #dyor
D 50 day MA

[El duderino_]

Wrapped up mainland trip. Latest news Bitmain is out of cash and is desperately trying to raise capital to fund TSMC wafers. Yield is not good -below 80%. Existing investors asking for significant valuation discount or force them to sell BCH portfolio. Regardless they are screwed “And Bcash as well ??”

https://twitter.com/btcking555/status/1115376669861105664?s=21