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

[AviThour]

Bored.

Thats a useless post to get more posts.. 

[JorgeStolfi]

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Yes there is more than one cryptocoin.
I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.
It has a network difficulty of 1 and is completely useless.

OK, let's put it another way: why are you certain that Litecoin will die, and Bitcoin will not?  Or Dogecoin, or any other cryptocoin, existing or to be created?

Or, said another way: why is Litecoin unsuitable for e-payments, concretely?

[cbeast]

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Yes there is more than one cryptocoin.
I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.
It has a network difficulty of 1 and is completely useless.

OK, let's put it another way: why are you certain that Litecoin will die, and Bitcoin will not?  Or Dogecoin, or any other cryptocoin, existing or to be created?

Or, said another way: why is Litecoin unsuitable for e-payments, concretely?

Do altcoins need to die? Maybe they will find their niche. Maybe Bitcoin will become so big it becomes politically charged and an altcoin becomes it's rival?

[solex]

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

LOL. Now THAT needs framing.

[ChartBuddy]

Explanation

[mooncake]

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Yes there is more than one cryptocoin.
I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.
It has a network difficulty of 1 and is completely useless.

OK, let's put it another way: why are you certain that Litecoin will die, and Bitcoin will not?  Or Dogecoin, or any other cryptocoin, existing or to be created?

Or, said another way: why is Litecoin unsuitable for e-payments, concretely?

I should clarify myself. It is possible that there were attempts to create Internet 1, Internet 2, and so on. They just did not catch on, and scale to the Internet that we know today.

Using the above analogy, there were, are, and will be attempts to create Bitcoin 1, Bitcoin 2 or in general terms, cryptocurrencies. They just did not, have not, and possibly will not catch on, and scale to the Bitcoin that we know today.

The next question is: Why is that so? To answer this, try to find out why alternative networks did not catch on, and scale to the Internet that we know today.

[mooncake]

The Bank of Japan just announced QE. Yet another reason for the existence of Bitcoin.

[touhonoob]

The Bank of Japan just announced QE. Yet another reason for the existence of Bitcoin.

Huge adoption on November in Japan:

1. Kraken Launches in Japan
2. GMO-PG Enables 48000 Merchants Using Bitcoin as Payment Option
3. BitFlyer Rises $236000
4. Rakuten Accepts Bitcoin

[JorgeStolfi]

I should clarify myself. It is possible that there were attempts to create Internet 1, Internet 2, and so on. They just did not catch on, and scale to the Internet that we know today.

Actually there were many long-range computer networks before and contemporaneous with the Internet:

https://en.wikipedia.org/wiki/BITNET
https://en.wikipedia.org/wiki/FidoNet
https://en.wikipedia.org/wiki/UUCP
https://en.wikipedia.org/wiki/CompuServe
https://en.wikipedia.org/wiki/Asynchronous_Transfer_Mode

Until the late 1980s the Internet was limited to some universities and some large companies; other networks like UUCP and BITNET reached many more hosts than the Internet did.  The latter became the dominating network only after it was opened to general public.  And that was still before the WWW was invented.

So, is Bitcoin like BITNET, or like Internet?
[/quote]

[janos666]

Good bids @Bitfinex = ppl want to close shorts ASAP ?  

 Total sum of active swaps   11,784.20 BTC


ehh, that´s not so good, it means that all buys(or a lot of them) in fact were actually shorts that have been closed...
We had about 18000+ before

So, some impatient traders closed their shorts on Bitfinex via rapid market buys rather than slow fishing?

I am really mad at them because they triggered my stop order just a few minutes before I could move the stop price lower as I planned. And now I need to figure out my next move instead of simply waiting for a dump party or to get "stopped" by a real rally. I think it could have been better for all of us if this didn't happen the way it did.

Aaaw you poor trader losing money. I feel so bad for you guys. It just isn't fair is it?

My loss was imaginary. My short was opened earlier. I just planned to close it even lower... So no...
I think it was bad because this kind of price pump won't have a lasting effect. So, people get over-exited about a trend reversal again but get a dump in their face.
1: The one whole closed the big shorts could have earned more
2: I could have earned more
3: overall for BTC: this was a fake pump but that short won't be there as a buffer during the next real dump
But I say that because I don't think it was an intentional price manipulation. However, it can be the case.

[ChartBuddy]

Explanation

[Newar]

The Bank of Japan just announced QE. Yet another reason for the existence of Bitcoin.

Huge adoption on November in Japan:

1. Kraken Launches in Japan
2. GMO-PG Enables 48000 Merchants Using Bitcoin as Payment Option
3. BitFlyer Rises $236000
4. Rakuten Accepts Bitcoin

Silly numbers != huge adoption

[touhonoob]

The Bank of Japan just announced QE. Yet another reason for the existence of Bitcoin.

Huge adoption on November in Japan:

1. Kraken Launches in Japan
2. GMO-PG Enables 48000 Merchants Using Bitcoin as Payment Option
3. BitFlyer Rises $236000
4. Rakuten Accepts Bitcoin

Silly numbers != huge adoption

There is a virtual currency in Japan already called BitCash since 2002.
It's not difficult for Japanese to adopt another one especially in online markets.

[Newar]

The Bank of Japan just announced QE. Yet another reason for the existence of Bitcoin.

Huge adoption on November in Japan:

1. Kraken Launches in Japan
2. GMO-PG Enables 48000 Merchants Using Bitcoin as Payment Option
3. BitFlyer Rises $236000
4. Rakuten Accepts Bitcoin

Silly numbers != huge adoption

There is a virtual currency in Japan already called BitCash since 2002.
It's not difficult for Japanese to adopt another one especially in online markets.

Ah, I thought we are talking bitcoin. There are many "virtual currencies", "e-money" or whatever you want to call them worldwide. Now, this hasn't helped bitcoin adoption much worldwide so far has it? Neither will it in Japan.

[ChartBuddy]

Explanation

[Elwar]

I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.

It has a network difficulty of 1 and is completely useless.

Where can I buy some of your bitcoin2s?

Will you trade BBQ coins for them?

[podyx]

Hashrate has skyrocketed
https://blockchain.info/sv/charts/hash-rate?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Any reason why?

[cbeast]

Hashrate has skyrocketed
https://blockchain.info/sv/charts/hash-rate?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Any reason why?

Because Bitcoin is dying, people are throwing more money into mining.

[Erdogan]

Will there only ever be 21 million checks?

Will there be only one cryptocoin?

Will there ever be only one internet?

Ugh Jorge. I didn't know you responded to me but people will insist on quoting you driving me to respond to your idiocy.

Yes there is more than one cryptocoin.

I started one today with the exact same code as bitcoin but with one difference, it's called bitcoin2.

It has a network difficulty of 1 and is completely useless.

But yes let us pretend that network strength is not a factor. You've been "intellectually trolling" us here for a year or so, almost gaining hero status, but have failed to learn/acknowledge the most simple elements of what bitcoin is, what cryptocurrencies are, and what the relevant factors are in their utility and reliability.

The answer to Jorge is yes, for all practical purposes there will be only one cryptocoin, which is bitcoin.

[DaRude]

Hashrate has skyrocketed
https://blockchain.info/sv/charts/hash-rate?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Any reason why?

Because Bitcoin is dying, people are throwing more money into mining.

Huh  i kept rereading this but it still makes no sense. Sarcasm?