Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 15991. (Read 26586302 times)

https://www.youtube.com/watch?v=QrLr7MdyyLg

Confirmed @11:50 what I've always suspected to be true: fractional reserve shares (aka "phantom shares") in the U.S. stock market are real. I fkn knew it! That along with collateralized and even naked re-hypo liens on personal/corp shares exactly confirms why when the U.S. stock market crashes, it crashes so hard.... because of all the unwinding.

bear #rekt by MoA

Your ridiculously contrived intellectualism that drips from every empty post of yours is all the evidence needed.

You are dick deep in this hoping for a reach around from Jihan. It's is as simple as hard fork now or later. After all the power-plays, shit-slinging, slander and defamation from your camp of whiners all you have left is faux reason. 20 Mb now!, became 8Mb now!, became 2Mb now!, became SegWit will destroy us!, became sack the core devs now! became BCH now! ... it's totally pathetic and beyond any reasonable or technical discussion. The infants didn't get their way, got their bottoms smacked and now want to pretend to play nice again. Fuck off you imbeciles and let the adults get to work already.

$7500 choo choo



wee!

Disagree. In my understanding of Bitcoin, the economic majority decides which is the One True Bitcoin.

You don't even need 'a bunch of people'. Anyone -- collectively or individually -- can code up alternate protocol rules and offer it to the community. But the One True Bitcoin is only the one that that the economic majority adopts. We all redefine it together. By definition.

---

You have a point to make, or has your intellectual capacity left you bereft of anything to say other than playground insults?

I mean, if you had some evidence to support your fellative and sodomative claims, that would be one thing. But you don't, do you?

Even if the miners are angry with the Core team, it is still more rational for them to mine the most profitable chain and then sell the coins for whichever coins they prefer (like BCH).  If miners are willing to mine a coin with huge losses for weeks on end to prove their point, then it goes against White Paper's premise of being rational, profit maxmizing, playing nice, and would be treated as an attack.  It would imply that there is a risk of other side using the nuke (e.g. POW change) and users exit on masses to another chain, leaving miners with their obsolete equipment and worthless coins.  Naturally that would be a lose-lose situation.  When people advocates using nukes, don't forget that other people have nukes too and could have even more nukes than one had imagined.  

Now just being contrarian, what if the price of bitcoin actually went UP, instead of down, even if hashrate switch to another chain en masse?  Then it would just prove the point of critics that bitcoin is not used for payment, but rather as a storage of wealth and tool for speculation?  Thus those thinking that increase the payment utility would increase the value of network, even at risk of more centralization, are just deluding themselves?  

As for the previous discussion on why it's irrational to spend highly deflationary currency such as Bitcoin. it is more of "so now we are aware of inherent limitation posed by the design, and there are trade-offs if we want to change that design, so what can we do to encourage its original purpose, i.e. spending and utility as a payment network?"  Early adopters are highly altruistic and ideological, but game theoretics do require the system to work based on the masses acting rational and self-interested, not on just a few people being altruistic, whether miners or users.  
 

pffft ... and you call that security?

To get my keys I'd have to travel to Kilimanjaro, hike up to a cave guarded by Chaga clan's finest warriors where the climax of a violent ritual releases the participant into the inner caves and there a map and keys to a secret location on a remote Pacific atoll housing a base for an ultra-deep submarine, guarded by native Melanesian ninjas, from where the submarine is used to dive to the greatest depths achievable in the Mariana trench where the seed phrase etched onto a titanium plaque is only readable by a special microscope.

You are missing the point. If a bunch of people can meet and redefine what Bitcoin is, then that's the major problem right there - because at that point it has been proven that Bitcoin can be controlled or co-opted.

Why would anyone need a coin which is controlled by a group of guys who meet behind closed doors and take decisions for its future? We have FED and ECB currency for this.

Bitcoin has big inertia in order to change its rules, and that is ok because the alternative goes against the decentralization which Bitcoin stands for.

You can go here to find out how much your account is worth. https://www.bctalkaccountpricer.info/
Just checked mine. Mine is worth 0.19880000 BTC.  NOT FOR SALE!
@Torque They probably want your legendary account to either scam people, launch a shitcoin, or get paid a premium with signature campaigns.

Certainly, I personally believe there is a very good chance that BCH becomes the victor of the enforkenating. I assume you merely cast this off as implausible?

But really, if S2X emerges the victor, is that really a 'worst case' for you Core acolytes? Seems to me that there ain't more than a RCH difference between S1X and S2X. Sure, a handful of overly-entitled neckbeards either whiny-ragequit or have their bluffs exposed. Other than that, what?

---

Again only tangentially related: the arcane mechanism by which 'US GDP growth rate' is calculated.
But first! Be prepared to be stunned and amazed!
http://netrightdaily.com/2017/11/average-annual-gdp-growth-not-think/

Elliott died 60 years before bitcoin arrived.,
his wave principles dont fit for cryptos.
Bitcoin has its own waves. Wave 5 finished? so what.
Lets proceed to another rally wave 6 closely followed by 7  

After wave 5 does it cruise along sideways nicely? I'm hoping that's what happens.

What the fuck?   NOW I am getting ANGRY!!!! - (a little dramatic effect should not hurt, here)...


You mean that after all of this discussion of "wave 5", we have not even arrived at it yet?


 

I am really ANGRY, if you cannot tell...


And it is not a "gay" type of mad, either.   

What if none of them is victor? it may be some altcoin as well, at least temporarily.

I will still support BTC, but i don't see it rallying right after the fork. it may take very long time to get to new ATH after that, so there should be enough time for re-entry.

Sure sometimes taking risks like these can pay off... but they could also go very badly, too.

So yeah, I recall that he did this major purchase of BTC right around the time of a subsequent crash (might have been the bitfinex matter?), but there was a bit of uncertainty for a while and even thought that he may have risked too much..

But sure, even with the Bitfinex matter, there still did remain considerable bullishness in the air that subsequently played out.. so in that regards good move.

As Elwar also states, he subsequently cashed out about half of his acquired BTC stash for some kind of annuity.. which might have been a bit too conservative.. so yeah, he seemed to have moved from some action that was a bit too risky and then into one that was a bit too conservative - yet it still could be the case that half of a stash is good enough, especially if we get some more decent bullish performance....   And, yeah nothing is really guaranteed in bitcoin, and it is surely possible that this could be the top.. but I am thinking that even if we get a bit of a correction now, that we are going to have at least one more pump before the mid-November fork.. then from there we have to see how the fork plays out... In spite of seemingly credible disruption threats, I am lacking a certain amount of confidence that the small renegaders are really going to be able to garner over much network to their side and to kill the golden goose, as they seem to want to do (or at least making such an appearance).. so anyhow, I am thinking that there are decent chances that this whole nutjob forkening matter will resolve in favor of the real bitcoin.. which is our current legacy chain that is currently composed of 1x and segwit.. .as our consensus mechanisms that will go on to conquer the day... which will be bullish.. but it could take a bit of time (a few days and perhaps in a worse case scenario several weeks) to be clear about that being the outcome. 

A very very worse case scenario would be that 2x garners network support and becomes the new bitcoin, but in spite of a bunch of threatening propaganda, it remains my view (at least as I type) that that outcome seems less than 5% of being what happens post forkening (that is even if the fork happens, which seems decently likely - currently in about the 85% plus territory that the proposed segwit2x fork will actually happen).

I doubt Satoshi was thinking that. Yes, I realize you were /s-ing. However, that which you list cannot properly be ascribed to BCH.


Good on ya, mate. We've had our disagreements, but I never have had cause to question your principles.

---

Whatevs, it'll be less of a problem tomorrow than it was yesterday.

Nevermind the fact that each addtional 264 bytes is another actual usage of Bitcoin.


No.

I prefer BCH to S2X. And I prefer S2X to S1X. But quite frankly, I don't know how the forkathon will conclude. While I believe in BCH's long term prospects, it may be a bumpy ride. Then again, its the only one of the three that can make it through a sudden hashrate drop.



And Bitcoin Gold/GPU can fuck right off.

---

And miss out on the victor skyrocketing?

Oh well, it's your money, man.

As I see it now, I will have to dump both, just in case

I don't know about "general consensus"

To get at my keys I'd have to travel to Antarctica, dig down through 40M of ice, disarm the traps (non trivial undertaking even knowing how they are set up) cut open the welded shut vault and then defrost the Pentium 3 inside.

Just too much trouble.

So is the general consensus that everyone's going to dump their s2x coins asap?

Clearly Jihan Wu, Rojer Ver (and friends) are combining their efforts to bring bitcoin down and pump BCH. They use any gap on the bitfinex bids to hammer the price by spending thousands of bitcoins. I am afraid that the 'free money' from the fork will come with severe attacks from this gang of morons. They will use the time of uncertainty to hammer bitcoin as hard as possible, with the hope to force the users to accept 2X as bitcoin.