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

[bitcoinsrus]

Coming up on 200 pages of no Fonzie, time for a Fonzie poll.

Fonzie is in the genesis block of my ignorechain, so even though he has "moved on to other things", he, like mammoth dung, is fossilized.

Jorge is still here, so ignore blocks still get confirmed every 20 minutes or so, but ignore difficulty is way down in Fonzie's absence.

[TooDumbForBitcoin]

bestest badger gif evar

That honey badger's name is Stoffel, which is Australian for "Stolfi".

[JorgeStolfi]

That honey badger's name is Stoffel, which is Australian for "Stolfi".

Thank you! 

(In fact, my family name is Italian but clearly of Germanic origin, and I never figured out how exactly it come about.  The name "Astolfo" was known in Italy in the 1600s at least, but "Stolf" and "Stoffel" also occurs in German-speaking countries. And yes, I know what "stoffel" means in colloquial German, and "stolti" in Italian.  )

[JorgeStolfi]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it? 

[ChartBuddy]

Explanation

[cbeast]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it? 

That's not my motivation at all. I want fair money. Bitcoin is the only fair money since gold. The problem with gold is that you can't use it on the internet. One day, I hope Bitcoin and gold will be the last form of money needed to advance our civilization to the next level of development.

[mooncake]

Is this causing the rally?
http://bitcoin.mit.edu/announcing-the-mit-bitcoin-project/

[Adrian-x]

bestest badger gif evar

That honey badger's name is Stoffel, which is Australian South African for "Stolfi".

FTFU his accent is South African not Australian in the original video.

[aminorex]

Yes. Of all the alts, it seems that NXT actually offers something genuinely groundbreaking rather than tinkering around the edges of bitcoin.

Just what is offered, in your view?  The community seems relatively robust, but PoS is substantially less secure that PoW.  The layered products will emerge in any coin that has traction, so I'm not sure layered features are a big plus. Anonymity is huge, in my estimation.  Much bigger than the little features that derive from layered applications of the blockchain.  A coin is neither required nor suitable for most of those.  Parasitic protocols are not viable in the long term.   Merge-mining fees is the correct way to use blockchains as infrastructure for layered apps, not cramming stuff into the core coin, but other ways of funding a distributed transaction db may be more efficient.

Anonymity on the other hand is part of the core, necessarily.  Part of the core implementation, and part of the core value proposition.  For that reason, of the alts, I like MRO.  BCN would have been interesting, but suffered from pre-mine.  MRO forks BCN and fixes that.  The upside is the best anonymity in a working coin, CPU-mined.  The downside is extreme immaturity of the software, no market yet:  It's roughly 2 weeks old.

[Adrian-x]

Isn't it ironic that the libertarian bitcoiners, champions of laissez-faire capitalism, are betting all their life savings on the hope that the Satoshi Bitcoin will be one day the only cryptocurrency in the market, so that they can charge monopoly prices for it? 

It's funny but I find gross generalizations ironic.

[Cassius]

Yes. Of all the alts, it seems that NXT actually offers something genuinely groundbreaking rather than tinkering around the edges of bitcoin.

Just what is offered, in your view?  The community seems relatively robust, but PoS is substantially less secure that PoW.  The layered products will emerge in any coin that has traction, so I'm not sure layered features are a big plus. Anonymity is huge, in my estimation.  Much bigger than the little features that derive from layered applications of the blockchain.  A coin is neither required nor suitable for most of those.  Parasitic protocols are not viable in the long term.   Merge-mining fees is the correct way to use blockchains as infrastructure for layered apps, not cramming stuff into the core coin, but other ways of funding a distributed transaction db may be more efficient.

Anonymity on the other hand is part of the core, necessarily.  Part of the core implementation, and part of the core value proposition.  For that reason, of the alts, I like MRO.  BCN would have been interesting, but suffered from pre-mine.  MRO forks BCN and fixes that.  The upside is the best anonymity in a working coin, CPU-mined.  The downside is extreme immaturity of the software, no market yet:  It's roughly 2 weeks old.

Not familiar with MRO myself.
I do like the idea of forging rather than mining, though that has downsides, not least in distribution (though bitcoin suffers from that anyway). I think transparent forging could turn out to be quite significant too. And I do think designing something as a complete platform from the ground up will have advantages.

[gizmoh]

A great squeeze is coming: Finex $17.2 million longs beware. 

[rpietila]

A great squeeze is coming: Finex $17.2 million longs beware. 

What's the maximum leverage there?

[chriswilmer]

A great squeeze is coming: Finex $17.2 million longs beware. 

Sorry for the dumb question, but I"m not familiar with margin trading. Are you saying that the long positions will be squeezed (price crash), or that the short positions will be squeezed (price spike)?

[ChartBuddy]

Explanation

[akujin]

Up or down? 

[KFR]

Yes. Of all the alts, it seems that NXT actually offers something genuinely groundbreaking rather than tinkering around the edges of bitcoin.

Just what is offered, in your view?  The community seems relatively robust, but PoS is substantially less secure that PoW.  The layered products will emerge in any coin that has traction, so I'm not sure layered features are a big plus. Anonymity is huge, in my estimation.  Much bigger than the little features that derive from layered applications of the blockchain.  A coin is neither required nor suitable for most of those.  Parasitic protocols are not viable in the long term.   Merge-mining fees is the correct way to use blockchains as infrastructure for layered apps, not cramming stuff into the core coin, but other ways of funding a distributed transaction db may be more efficient.

Anonymity on the other hand is part of the core, necessarily.  Part of the core implementation, and part of the core value proposition.  For that reason, of the alts, I like MRO.  BCN would have been interesting, but suffered from pre-mine.  MRO forks BCN and fixes that.  The upside is the best anonymity in a working coin, CPU-mined.  The downside is extreme immaturity of the software, no market yet:  It's roughly 2 weeks old.

FWIW I concur.  I gave up on NXT quite a while back and started cpu mining MRO a few days ago.  Immature is right; but the potential...

[gizmoh]

A great squeeze is coming: Finex $17.2 million longs beware. 

Sorry for the dumb question, but I"m not familiar with margin trading. Are you saying that the long positions will be squeezed (price crash), or that the short positions will be squeezed (price spike)?

Longs might get squeezed as its 'unusually' high (maximum was $20.9 m in feb)

[Cassius]

Yes. Of all the alts, it seems that NXT actually offers something genuinely groundbreaking rather than tinkering around the edges of bitcoin.

Just what is offered, in your view?  The community seems relatively robust, but PoS is substantially less secure that PoW.  The layered products will emerge in any coin that has traction, so I'm not sure layered features are a big plus. Anonymity is huge, in my estimation.  Much bigger than the little features that derive from layered applications of the blockchain.  A coin is neither required nor suitable for most of those.  Parasitic protocols are not viable in the long term.   Merge-mining fees is the correct way to use blockchains as infrastructure for layered apps, not cramming stuff into the core coin, but other ways of funding a distributed transaction db may be more efficient.

Anonymity on the other hand is part of the core, necessarily.  Part of the core implementation, and part of the core value proposition.  For that reason, of the alts, I like MRO.  BCN would have been interesting, but suffered from pre-mine.  MRO forks BCN and fixes that.  The upside is the best anonymity in a working coin, CPU-mined.  The downside is extreme immaturity of the software, no market yet:  It's roughly 2 weeks old.

FWIW I concur.  I gave up on NXT quite a while back and started cpu mining MRO a few days ago.  Immature is right; but the potential...

For the anonymity alone?

[ChartBuddy]

Explanation