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

[TERA]

If EC is broken before we get around to doing a difficult planned and controlled upgrade to a different algorithm, then everyone's wealth will be permanently lost and redistributed. Bitcoin could re-emerge with new code but it will be a reset with different players. It will be a race to buy back in to the new bitcoin. Your investing decisions today would be irrelevant.

[JayJuanGee]

i think all off you are wrong, nobody can predict price of BTC. And i can bet on this. it can go to 5$ in a day and back to 400$, it can also go to 1000$ in a day and back to 400$, you will never know unless you are big fish in the pond and you have some real deal piece of information or some big ammount of money.

I agree with you to some extent that no one can predict the prices, except possibly the biggest of whales.  Yet, even the biggest of whales are only willing to lose so much money in the event that they attempt to manipulate beyond what the market is willing to follow.  Surely a big player with multiple millions of dollars that s/he is willing to lose could play this manipulation game a little more seriously, but likely would have trouble creating anymore than 10-20% daily volatility.

[adamstgBit]

If EC is broken before we get around to doing a difficult planned and controlled upgrade to a different algorithm, then everyone's wealth will be permanently lost and redistributed. Bitcoin could re-emerge with new code but it will be a reset with different players. It will be a race to buy back in to the new bitcoin. Your investing decisions today would be irrelevant.

no way

if we ever "reset" it will reset back to a checkpoint

you have no idea how permanent the blockchain will be dude it will last as long as we need it too

[TERA]

If EC is broken before we get around to doing a difficult planned and controlled upgrade to a different algorithm, then everyone's wealth will be permanently lost and redistributed. Bitcoin could re-emerge with new code but it will be a reset with different players. It will be a race to buy back in to the new bitcoin. Your investing decisions today would be irrelevant.

no way

if we ever "reset" it will be back to a checkpoint

you have no idea how permanent the blockchain will be dude it will last as long as we need it too

Resetting back to a checkpoint does not solve the fundamental problem of now everyone knows everyone else's private keys and there is no way to distinguish between the owners

[adamstgBit]

If EC is broken before we get around to doing a difficult planned and controlled upgrade to a different algorithm, then everyone's wealth will be permanently lost and redistributed. Bitcoin could re-emerge with new code but it will be a reset with different players. It will be a race to buy back in to the new bitcoin. Your investing decisions today would be irrelevant.

no way

if we ever "reset" it will be back to a checkpoint

you have no idea how permanent the blockchain will be dude it will last as long as we need it too

Resetting back to a checkpoint does not solve the fundamental problem of now everyone knows everyone else's private keys and there is no way to distinguish between the owners

...

now your just trolling me

[adamstgBit]

 

[edwardspitz]

Quite amazing how Tera nows exactly what will happen in the next 2 years.

...but not more crazy compared to people who (constantly) claim that we are only a few days away from going to the moon I think TERA is basing her prediction based on at the past where there has been long periods with less activity (in between bubbles).

There are no women on the Internet, let alone in bitcoin.

Ups, sorry if I offended anyone. The Swedes have recently invented a new word to replace he/she. That would sometimes be useful to have in English 

[adamstgBit]

i dont have all the anwers but if bitcoin proves anything its that their IS an answer to all problems

[Post-Cosmic]

[..] ..except possibly the biggest of whales. [..]

[uhoh]

May the 4th be with you all!

[JayJuanGee]

I'm always puzzled by the way that Huobi trades. It's always two large orders suddenly appear on both sides of the book and get 1 yuan away from each other to create this tiny tiny spread and then they trade with eachother somehow.

Someone told me (Maybe Aminorex?) that this happens frequently in the USD market. It looks strange though. You would think that sellers would attempt to get buyers to pay more and move their wall up. It seems to me like sellers are trying to keep the prices down (which of course is not in their interest).

in general the market wants to find THE value and stay there, problem is bitcoin is always growing... so every once in a while we have a "bubble" and then bitcoins looking for its value again, we always overshoot on the up side and the down side, and bitcoin keeps growing...

this is why all the volatility.

I see bitcoin calming down and staying steady onces its completely taken over all monetary transactions, because i think in 100 years or so that what will happen bitcoin 4.2.9 will be running and my transactions from 2011- 2150 will be forever recorded on the blockhchain i'll be dead taking at lest 1BTC with me to the grave because afterlife!   

You are quite hilarious, and to be somewhat serious, one of the problems with bitcoin seems to be that through time there are going to many bitcoin HODLers taking bitcoins with them to the afterlife, until we get some better security vehicles.  I think that if I croaked today, at least half of my bitcoin stash would become unclaimed.  Even if I suffered from some memory loss regarding my bitcoin would cause significant recovery problems.

I am definitely looking forward to better bitcoin wallets.

[JayJuanGee]

Quite amazing how Tera nows exactly what will happen in the next 2 years.

...but not more crazy compared to people who (constantly) claim that we are only a few days away from going to the moon I think TERA is basing her prediction based on at the past where there has been long periods with less activity (in between bubbles).

I see something similar, coin distribution is what is happening and this process is hindered by coagulation, there are players in the space who will become distortedly wealthy if the market cap increase, hence they have too big a stake, we will need to see this experiment look like it's going to fail before those hoarders help distribute coins so distribution ends up resembling a normal distribution curve. I'm not predicting anything just think there is a roughly 30% chance something like this happens.

It's the true believes who survive.

You may be able to shake coins from people who bought recently, but it is NOT going to be easy to shake coins from those who have already experienced 10x or 100x appreciation.  Those HODLers would NOT have any major incentive to get rid of significant portions of their portfolio, unless you say that we are going into the double digits, which would be difficult for any manipulator to accomplish without losing significant capital.in the process of attempting to get prices there.

[edwardspitz]

I'm always puzzled by the way that Huobi trades. It's always two large orders suddenly appear on both sides of the book and get 1 yuan away from each other to create this tiny tiny spread and then they trade with eachother somehow.

Someone told me (Maybe Aminorex?) that this happens frequently in the USD market. It looks strange though. You would think that sellers would attempt to get buyers to pay more and move their wall up. It seems to me like sellers are trying to keep the prices down (which of course is not in their interest).

in general the market wants to find THE value and stay there, problem is bitcoin is always growing... so every once in a while we have a "bubble" and then bitcoins looking for its value again, we always overshoot on the up side and the down side, and bitcoin keeps growing...

this is why all the volatility.

I see bitcoin calming down and staying steady onces its completely taken over all monetary transactions, because i think in 100 years or so that what will happen bitcoin 4.2.9 will be running and my transactions from 2011- 2150 will be forever recorded on the blockhchain i'll be dead taking at lest 1BTC with me to the grave because afterlife!   

You are quite hilarious, and to be somewhat serious, one of the problems with bitcoin seems to be that through time there are going to many bitcoin HODLers taking bitcoins with them to the afterlife, until we get some better security vehicles.  I think that if I croaked today, at least half of my bitcoin stash would become unclaimed.  Even if I suffered from some memory loss regarding my bitcoin would cause significant recovery problems.

I am definitely looking forward to better bitcoin wallets.

(...) there are going to many bitcoin HODLers taking bitcoins with them to the afterlife

That's what true hodlers do But yes I have been thinking the same thing. So many coins must get lost one way or the other.

[ChartBuddy]

Explanation

[hdbuck]

off topic.. but still, happy star wars day! i know there must be fans in here




may the force be with us and, most of all, with Bitcoin! ^^

[ChartBuddy]

Explanation

[JorgeStolfi]

If EC is broken before we get around to doing a difficult planned and controlled upgrade to a different algorithm, then everyone's wealth will be permanently lost and redistributed.

I believe (on no basis whatsoever, just a blind guess) that such thing will not happen before he bitcoin protocol becomes obsolete for some other reason, with or without loss of the blockchain balances.

But, just to discuss hypotheticals, if that were to happen it would be a nightmare scenario.  At the very least it would mean the freezing of all cryptocoin payments until the new protocol is defined and the miners and clients upgraded to it.  That could take weeks or months.  Any business that depended entirely on bitcoin payments would  have a hard time.

Depending on who breaks EC, bitcoins may get silently stolen for months before the maintainers realize what is happening.  By that time, there will be many legitimate transactions mixed up with illegitimate ones, and it may be practically impossible to distinguish them, or do a general rollback.

[windjc]

Just caught up on the entire days worth of new posts on this thread - basically TERA trolling everyone on here.

Good times.

Oh, look! We got the small bounce I predicted we'd get this weekend.

Just a little longer now - (maybe 2780ish??) - and the big dumps can begin.

My guess is Tues or Wednesday. Latest on Thurs. That will be when we get some announcement from 1 or more of the big 3 exchanges.

[windjc]

If/When we break 2660 on Houbi - then there is nothing to stop us from retesting 2555.

If we retest 2555, there is very little hope of a "double bottom" there and if that breaks, then there is nothing stopping us from retesting 2223.

If we retest 2223, it is very sketchy that it would hold given the downward trend and the next stop would be 2120.

2120 is the chance to make a real double bottom.  Would it hold?

I guess what I am saying is that 2660 is damn important support right now.

[UnDerDoG81]

So tired of these 400´s 

So, still 24 days remaining until I go to a long holiday trip where I can forget about Bitcoin