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

[adamstgBit]

Huge farm just turned on somewhere, hashrate is over 340PH



Hashrate is up over 50% today! SHIIIIEET!

holy fucks!
OMG
THIS IS CRAZY!

[BlindMayorBitcorn]

What if I generate a meme of Putin trying to destroy bitcoin a la Godzilla? Would that convince you?

[adamstgBit]

Huge farm just turned on somewhere, hashrate is over 340PH



Hashrate is up over 50% today! SHIIIIEET!

holy fucks!
OMG
THIS IS CRAZY!

this isn't showing up on bitcoincharts

[explorer]

Huge farm just turned on somewhere, hashrate is over 340PH



Hashrate is up over 50% today! SHIIIIEET!

holy fucks!
OMG
THIS IS CRAZY!

Could it be revised down, like US GDP?  Next week it will be found to be a 60% drop

[derpinheimer]

Huge farm just turned on somewhere, hashrate is over 340PH



Hashrate is up over 50% today! SHIIIIEET!

holy fucks!
OMG
THIS IS CRAZY!

this isn't showing up on bitcoincharts

Im not sure, I've never used coinorama to look at nework stats before but I clicked it by accident.  Maybe its not reliable. But BTC-Charts and the other ones arent either - they update only a couple times a day, if not once a day. coinorama updates a lot, if the graph isnt lying.

guess we will see later today

[ChartBuddy]

Explanation

[empowering]

Ok I know this might sound nuts. But what if electricity costs were not a factor. Imagine Putin has a secret mission whereby he is giving away power to a secret team of miners...in secret

sounds like too much effort.... he is too lazy for that.... he just does not Putin the hours..  

Sorry, I shall get my coat.

TAXI!!

Not only a source of meme gifs   

Every now and then I also bring a little bit of data and even some analysis... not always OT, but you know.... you got to keep it fresh.   

[empowering]

What if I generate a meme of Putin trying to destroy bitcoin a la Godzilla? Would that convince you?

I dunno.. why don't you give it a shot

[BuildTheFuture]

It has to do with random variance spikes in the times to find blocks. You can see different time averages at this site, the graph posted looks like a shorter term average like the 8 hr average:

http://bitcoin.sipa.be/

So sometimes the overall network just gets fairly lucky for a few hours and finds lots of blocks more quickly than usual, leading to a higher estimated hashrate than really exists. OR maybe yes some huge farm just got turned on. You can't say for sure until you let more time go by and see what the longer time averages turn out to be.

[Searing]

Huge farm just turned on somewhere, hashrate is over 340PH



Hashrate is up over 50% today! SHIIIIEET!

BFL was allowed to resume operations...coincidence?
(yeah they could have that much PH from the scam they did)
imho

[MoreFun]

Post count is up, wallets are up, volume is up, price is down...

FINAL CAPITULATION....soon?

The moment those forcing price down change direction. Simple, but most likely we will stay near bottom for some time... to accumulate.

[derpinheimer]

It has to do with random variance spikes in the times to find blocks. You can see different time averages at this site, the graph posted looks like a shorter term average like the 8 hr average:

http://bitcoin.sipa.be/

So sometimes the overall network just gets fairly lucky for a few hours and finds lots of blocks more quickly than usual, leading to a higher estimated hashrate than really exists. OR maybe yes some huge farm just got turned on. You can't say for sure until you let more time go by and see what the longer time averages turn out to be.

OOooooh, good info. So when the hashrate is measured its not actually a measurement of the hashrate, its just saying how much faster or slower the network is getting blocks than it should? SORRY FOR THE FALSE ALARM ADAM  

[adamstgBit]

It has to do with random variance spikes in the times to find blocks. You can see different time averages at this site, the graph posted looks like a shorter term average like the 8 hr average:

http://bitcoin.sipa.be/

So sometimes the overall network just gets fairly lucky for a few hours and finds lots of blocks more quickly than usual, leading to a higher estimated hashrate than really exists. OR maybe yes some huge farm just got turned on. You can't say for sure until you let more time go by and see what the longer time averages turn out to be.

OOooooh, good info. So when the hashrate is measured its not actually a measurement of the hashrate, its just saying how much faster or slower the network is getting blocks than it should? SORRY FOR THE FALSE ALARM ADAM  

i almost shat myself.

[empowering]

It has to do with random variance spikes in the times to find blocks. You can see different time averages at this site, the graph posted looks like a shorter term average like the 8 hr average:

http://bitcoin.sipa.be/

So sometimes the overall network just gets fairly lucky for a few hours and finds lots of blocks more quickly than usual, leading to a higher estimated hashrate than really exists. OR maybe yes some huge farm just got turned on. You can't say for sure until you let more time go by and see what the longer time averages turn out to be.

OOooooh, good info. So when the hashrate is measured its not actually a measurement of the hashrate, its just saying how much faster or slower the network is getting blocks than it should? SORRY FOR THE FALSE ALARM ADAM  

i almost shat myself.

Fact : Penguin shit is white.  (apart from when it is pink... and well sometimes shit colour, but mostly white)

[Gws24]

Saw this chart on a dutch forum; source is tradingview:



Pretty interesting to see all assets going down relative to USD. Question obviously is when and if the USD rally ends.

[empowering]

Fiesty little so and so's Penguins http://youtu.be/SbWl9TSSv_U

[gnode]

Something to keep in mind,

BTC's market cap is 5 billion, compare to following,

"Competition in the mutual fund business exploded this week as rivals sparred for a share of the billions of dollars flowing out of Pacific Investment Management Co., which commands $2 trillion in investments. .

Gross, known on Wall Street as the "bond king," stirred up the industry last month when he quit — after clashing with other Pimco executives — to run a comparatively tiny portfolio for Janus Capital Management. Investors responded by pulling $23.5 billion from Pimco's Total Return Fund, which Gross had personally managed."

One bond mutual fund is 2 trillion market cap. 

When this "big money" pours into BTC the price will skyrocket.

[exocytosis]

When this "big money" pours into BTC the price will skyrocket.

That money will never pour into BTC, since Gross, Wall Street guys and other smart people don't invest in pyramid schemes. They're not interested in making cultist neckbeards rich.

[phoenix1]

Saw this chart on a dutch forum; source is tradingview:



Pretty interesting to see all assets going down relative to USD. Question obviously is when and if the USD rally ends.

With the Fed dangling the prospects of higher interest rates for USD obvious trade is obvious. That they believe they can raise rates without collapsing the bond bubble and creating chaos is beyond me. I just can't see it. Maybe I am blind.
To me it looks like the final vacuum up before the freefall ...

[dyland]

Is it weird that I'm getting really nervous?