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

[JorgeStolfi]

Ghash.io is back to 45%. Hope it's a temp fix. It's still too much.

If they merely turned off some of their equipment, that does not solve the problem, only hides it.  The risk exists when some entity is capable of doing X% of the hashing, not just when it does so.

[Adrian-x]

At some point, if the current devs do not step up and resolve the issues important to the stability of Bitcoin, and the public perception thereof, they will find themselves out of a job.  Bitcoin only follows their actions so long as a consensus wishes to do so.  If more competent caretakers come through, we will shift to them.

They are going to be out of a job shortly after btcd finishes getblocktemplate and bloom filter support.

The "Core Developers" won't be able to filibuster any more.

thanks for the introduction, this is awsom, will BTCd be open, and do you know how further development will happen?
do you know if a client like Armory will work with BTCd?

[adamstgBit]

http://news.err.ee/v/scitech/a9ee762f-6bd3-41d2-ae55-606654e1daa1

[adamstgBit]

heres the answer the the mining thing.

http://www.coindesk.com/bitcoin-miner-hosting-firm-hashplex-raises-400k-funding/

more hashrate!

[Hunyadi]

http://news.err.ee/v/scitech/a9ee762f-6bd3-41d2-ae55-606654e1daa1

[justusranvier]

thanks for the introduction, this is awsom, will BTCd be open, and do you know how further development will happen?
do you know if a client like Armory will work with BTCd?

btcd is already open source, and Conformal Systems has a fairly large team working on it. Their actual business is Coinvoice - btcd was developed for their own use and they're giving it to the community as a gift.

Armory could work with btcd now, except that it requires direct file access to the blockchain and btcd uses a different file format than bitcoind uses. Alan has talked about making Armory work as a network peer (no file access needed), and if they ever do that you could use Armory with btcd then.

[fonzie]

That everlasting refilling on Bitstamps asks side . This one clearly has a nice stash for sell.

[Gimmelfarb]

That everlasting refilling on Bitstamps asks side . This one clearly has a nice stash for sell.

yes, this is one whale that really wants to push the price down. but i think he will not be able to push too far. we failed at the 50% fib of last major move, now resting at 23.6%. it's not bullish. there should be one more leg down or a retest of the low. then we have a real bounce. so i am looking at 550 or lowest 520s.

[fonzie]

That everlasting refilling on Bitstamps asks side . This one clearly has a nice stash for sell.

yes, this is one whale that really wants to push the price down. but i think he will not be able to push too far. we failed at the 50% fib of last major move, now resting at 23.6%. it's not bullish. there should be one more leg down or a retest of the low. then we have a real bounce.

Maybe he just wants to sell slowly @ high prices without creating panic before the BAD news come out and the market crashes!
Personally i preferred the 10000BTC ask wall before Gox went down.

[Sandia]

BTC is less fun after I finished buying.  Before, I would hope for low prices to get more coins but cheer when my old coins gained value.  Now, I just wince when prices drop.  I wish I was stupid enough to put the last of my fiat in; alas, I am not.

I had better go earn some fiat.

[JayJuanGee]

Yes, ... the 30K coins seem to be a test run, and the 144k coins will be a bigger deal... a bit more difficult to absorb

The 144k is why we won't get to a new ATH so that the market could be free from before-knowing massive dump. Only after the 144k auction we'll be set for the moon IMHO.

I get what you are suggesting, above; however, I get the sense that the BTC market is NOT going to keep staying down with each and every pending uncertainty regarding various coins or its future.. .b/c sometimes the momentum to go up is just there, in spite of various uncertainties that may exist.

As many of us know there remain quite a few uncertainties with the future of bitcoin.. for example:  There is the uncertainty of the 200k found gox coins, and there is the uncertainty of the 600k not yet found gox coins.  Also, there is the uncertainty regarding whether anybody, including Satoshi, has control over nearly 1 million early mined coins, and then there is the uncertainty of these many bullshit exchanges conducting off-line insider trading and manipulations of the price with potentially engaging in a kind of fractional reserve banking..

My point is that there seem to be quite a few uncertainties with bitcoin, and a lot of similar kinds of uncertainties existed within the approximately 5 previous 10x bubble (uptrends).  Bitcoin seems fairly likely and poised to have another bubble in the near future in spite of several outstanding uncertainties....... Even though some people attempt to predict exactly when this next uptrend/bubble is going to occur, there remains human control and some non-mathematical aspects that can affect the results:   eg "when" and "how much" and "how explosively".

[inca]

Maybe he just wants to sell slowly @ high prices without creating panic before the BAD news come out and the market crashes!

Now I remember why you were on ignore. *click*

[ChartBuddy]

Explanation

[fonzie]

Maybe he just wants to sell slowly @ high prices without creating panic before the BAD news come out and the market crashes!

Now I remember why you were on ignore. *click*

What´s your explanation for the whale that has been unloading xxxx of coins in the last days? I think insider trading is at least a possibility.
I heard somewhere that it has happened before in the same way.  

[maok]

Yes, ... the 30K coins seem to be a test run, and the 144k coins will be a bigger deal... a bit more difficult to absorb

The 144k is why we won't get to a new ATH so that the market could be free from before-knowing massive dump. Only after the 144k auction we'll be set for the moon IMHO.

I get what you are suggesting, above; however, I get the sense that the BTC market is NOT going to keep staying down with each and every pending uncertainty regarding various coins or its future.. .b/c sometimes the momentum to go up is just there, in spite of various uncertainties that may exist.

As many of us know there remain quite a few uncertainties with the future of bitcoin.. for example:  There is the uncertainty of the 200k found gox coins, and there is the uncertainty of the 600k not yet found gox coins.  Also, there is the uncertainty regarding whether anybody, including Satoshi, has control over nearly 1 million early mined coins, and then there is the uncertainty of these many bullshit exchanges conducting off-line insider trading and manipulations of the price with potentially engaging in a kind of fractional reserve banking..

Yes those are valid points, however its not an uncertainty that USMS will sell those 144K bitcoins( unless Ulrich is aquitted), so the potential big investors will simply wait for that auction to take place so they can purchase at bulk and thus the market will see its effects as those big investors won't enter with fresh capital like they normally would. If that auction will take place by the end of the year I think there's 30% I could be right in my prediction, but if the auction will take place next year or later then yes I think its going to be too late and we may reach ATH by then.

[Gimmelfarb]

That everlasting refilling on Bitstamps asks side . This one clearly has a nice stash for sell.

yes, this is one whale that really wants to push the price down. but i think he will not be able to push too far. we failed at the 50% fib of last major move, now resting at 23.6%. it's not bullish. there should be one more leg down or a retest of the low. then we have a real bounce.

Maybe he just wants to sell slowly @ high prices without creating panic before the BAD news come out and the market crashes!
Personally i preferred the 10000BTC ask wall before Gox went down.

i'd absolutely love to see a 10k ask wall right now. but this time it would just be too obvious that an insider was unloading his whale stash... then i may have to revise my 520-550 targets...

[Bronstad]

... pile of crap ...

Love that you added that ghash.io link to your signature...master troll stroke.

[N12]

... pile of crap ...

Love that you added that ghash.io link to your signature...master troll stroke.

[JayJuanGee]

fuck i gata buy!

 brb

How many coins you got, Adam?  I would've thunk that you had thousands of coins, already.   and you would have largely bought back in in the lower $400s, if NOT lower.

 

no... sadly i'm no where near being a bitlionaire

With a June 13, 2011 join date, I'd estimate Adam to have 500 to 1000 coins. But it's really none of our business.

I assume a lot of people here are satoshimillionaires. I'm a satoshibillionaire  
edit: adam is probably a trillionaire

These terms may be lacking in some concreteness for people.

There are 100 million satoshis in a bitcoin.

Therefore, all one needs to be a satoshi millionaire is .01BTC.

But to be a satoshi billionaire you need to have 10BTC

To be a satoshi trillionaire, you need to have 10,000 BTC. 

NOT too many people, even early adopters have maintained enough discipline to accumulate and/or to maintain more than 10k BTC.  Based on Adam's prior statements, I would be really surprised if he had such quantity of BTC at his disposal.

[JayJuanGee]

gmaxwell (Gregory Maxwell) is also a core dev and has expressed his concerns about the situation on Reddit: http://www.reddit.com/r/Bitcoin/comments/27lotn/people_dont_realize_how_serious_a_50_attack_is/ci27dpy

Yeah but gmaxwell just added his opinion, talking about selling coins and actual market decisions is a different story. Not that I don't think the whole situation is an issue it just reeks of market manipulation when someone in that position talks about selling 1000's of coins. Clearly its a free market and Im not saying it should be censored, just that somebody who's in such a privileged position should act with decorum and for the best of the community. As a respected developer his opinion should matter to the point where he doesn't have to talk about his actual market actions like he needs it to add weight to his point.

Peter did NOT talk about selling thousands of coins - instead, he talked about selling quantities in the five digits (without really specifying).  Therefore he could have sold anywhere between $10k and $99.99K worth of BTC - in other words less than 200 BTC.