Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16168.

xhomerx10

legendary

Activity: 3808

Merit: 7912

Quote from: Dabs on November 05, 2017, 09:53:05 PM

I live in a densely populated urban center, but occasionally drive some distances to ... beaches, for example, on wide open highways (where there are lots of traffic cameras, so what's the point unless you don't mind paying the speeding fine.)

Well, if you're doing 50km/h over the posted speed limit where I live, you will be charged with stunt driving (speed limit is 100k on 400 series highways) which means an automatic 1 week suspension of your licence, 6 demerit points, your car gets impounded for a week at your expense and there is a fine of 2 to 10 thousand dollars. If you manage to get to 15 demerit points, you get your licence suspended for 30 days.

NB. I couldn't afford the insurance and maintenance on a Lamborghini anyway.

Dabs

legendary

Activity: 3416

Merit: 1912

The Concierge of Crypto

I live in a densely populated urban center, but occasionally drive some distances to ... beaches, for example, on wide open highways (where there are lots of traffic cameras, so what's the point unless you don't mind paying the speeding fine.)

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

I guess none of you lives in dense urban centres where driving is a mind-numbing pain in the ass. Undecided

Or has my experience with shit-heaps left me soured to the idea of owning a personal automobile again?
Off-topic, but I wonder.

I do wonder..

lightfoot

legendary

Activity: 3220

Merit: 2334

I fix broken miners. And make holes in teeth :-)

Ok, looks like the Diablo might be a better fit for me than the Countach. When bitcoin hits the right level someday I'll buy one.

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

So is someone dumping, or is this just a daylight savings time thing?

because

Punisher1314

member

Activity: 63

Merit: 10

Smaller fishes can be younger but also smart ;p

Hum, I think around the 13th of this month there will be a good opportunity to dump our remaining BCH for BTC. The insane BCH pumping during these days points there, it will be almost 0.09 BTC per BCH right now and it keeps rising lol, that will not last too much after both drama forks end

BlindMayorBitcorn

legendary

Activity: 1260

Merit: 1116

Quote from: JimboToronto on November 05, 2017, 01:31:00 PM

Quote from: AlcoHoDL on November 05, 2017, 01:06:07 PM

Quote from: JimboToronto on November 05, 2017, 12:40:31 PM

Quote from: AlcoHoDL on November 05, 2017, 12:21:38 PM

Quote from: JimboToronto on November 05, 2017, 12:16:53 PM

Why buy that much fiat all at once? Why not just buy as much as you need as you go along.

I'd rather be retired with as much Bitcoin as possible growing in cold storage far more than a bunch of crumbling dollars in some bank account.

If you need to buy a new car, or some real estate, or simply some cash to party with, by all means spend some coins as need be.

Otherwise it makes more sense to just continue holding.

What if Bitcoin implodes and goes down to zero? What then? I think his approach is smarter, as he is guaranteed to enjoy the rest of his life with his $2m, even if Bitcoin disappears. And he is still left with more than 600 BTC for the future.

What if the dollar implodes and goes down to zero? It's probably as likely as Bitcoin imploding and going to zero, although both are extremely unlikely.

I can see hedging your bet by spending some coins on appreciating assets like businesses, land, or other means of production.

Fiat currency doesn't appreciate. It's a depreciating asset.

I do hope you're right about Bitcoin going to zero being extremely unlikely. If Bitcoin's value keeps increasing, then it's obvious that your strategy makes the most sense and guarantees maximum profitability, and also low to zero taxation for those of us with modest needs, as the conversion to fiat can be kept to a minimum and only when needed. Also, converting large amounts of BTC to fiat has its own problems. Do we trust the banks to hold our fiat? What if there's a bail-in, as it has already happened in Cyprus? Then there's the depreciation of fiat due to inflation.

All these are valid reasons not to liquidate, and follow your strategy, provided Bitcoin keeps rising (or, at least, not dropping) in value. I hope Bitcoin has a bright future, but no one can know for sure, hence my conservative reply to BobLawblaw's post.

Indeed, there's a risk with everything. Even land can become unusable under certain circumstances. Banks can default and businesses can fail.

Risk reduction through diversification is a good thing. Fiat currency is just something I choose not to invest too much into.
_______

When I finally spend some of my hard-earned Bitcoin, I plan on buying land and and new implanted teeth and paying off what the taxman thinks I owe them. That would total more than what I spent to acquire all my coins. Then my entire stash would be gravy. That might be as early as January.

I've already arranged to buy the land with Bitcoin. I'm hoping the dental tourism clinic will accept Bitcoin as well. That just leaves the Canada Revenue Agency to be paid in dollars, so I guess I'll have to buy enough to pay them.

Jimbo! January is too soon. I don't even have a boat yet!

xhomerx10

legendary

Activity: 3808

Merit: 7912

Emergency Difficulty Adjustment

itod

legendary

Activity: 1988

Merit: 1077

Honey badger just does not care

Quote from: LewisPirenne on November 05, 2017, 07:04:32 PM

Quote from: itod on November 05, 2017, 04:06:37 PM

It's hard to notice this, even harder to explain. You can set it if you go to: http://statoshi.info/dashboard/db/mining and then choose "Last 7d" or "Last 30d" upper right. It looks like someone is turning enormous amount of mining power on and off the BTC chain, looks like randomly. I bet this is the cause of Bitcoinwisdom's difficulty prediction algorithm to go nuts.

It is just the effect of hashrate leaving for BCH chain when EDA manipulation or price pump makes it more profitable to mine BCH chain. Various Chinese pools such as VIABTC and BTC.TOP already sets the autopilot for jumping chain depending on relative profitability. This can lead to 30%~40% of hashrate leaving BTC chain. This often coincides with spam attack to bloat the mempool, with some tx paying 400+ satoshi/byte, i.e. 1 mbtc for fee on standard 225 byte tx and a few satoshi leftover as dust.
https://blockchain.info/address/1FLDCfr9iG7n6bAdGsqBXmhaLgC4aSze72

However, BTC went UP during all these time, further proving that people don't give a damn about tx fees or mass adoption or payment utility, at least the whales who can move price don't.

Pardon my ignorance, what is "EDA manipulation"?

It's difficult to comprehend the size of these schemes. When you look at https://coinmarketcap.com/currencies/bitcoin-cash/#markets, it's mind boggling to see 0.7 - 0.8 Billion US$ per day (through fiat, not BTC) moved to a shitcoin like BCH, mostly through South Korean currency (KRW). How can this be done without some kind of government cooperation?

Torque

legendary

Activity: 3822

Merit: 5504

Quote from: jbreher on November 05, 2017, 07:14:52 PM

Quote from: Torque on November 05, 2017, 07:04:24 PM

Quote from: jbreher on November 05, 2017, 07:00:32 PM

Quote from: toknormal on November 05, 2017, 03:12:06 PM

. Not one investor is remotely interested in blocksize, capacity or any other monetary vehicular niceties any more.

You might want to check that braggadocio. Other than the fact that your absolutest statement is demonstrably false, your position is reminiscent of Democrat party operatives a year ago.

Ok, so why don't you prove/demonstrate that his statement is false instead of being the snarky troll you always are.

Jeeze, thanks for the low hanging fruit.

I am an investor. I am interested in block size. Ergo, claim is demonstrated as false.

Thanks for playing. We have a lovely consolation prize for you backstage.

Hahahahahahaa!!! So you think by "investor" that he meant a scrub like you?

Wow, you're so brilliant! What a mastermind you are! How could anyone compete with such intellect??!

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: Torque on November 05, 2017, 07:04:24 PM

Quote from: jbreher on November 05, 2017, 07:00:32 PM

Quote from: toknormal on November 05, 2017, 03:12:06 PM

. Not one investor is remotely interested in blocksize, capacity or any other monetary vehicular niceties any more.

You might want to check that braggadocio. Other than the fact that your absolutest statement is demonstrably false, your position is reminiscent of Democrat party operatives a year ago.

Ok, so why don't you prove/demonstrate that his statement is false instead of being the snarky troll you always are.

Jeeze, thanks for the low hanging fruit.

I am an investor. I am interested in block size. Ergo, claim is demonstrated as false.

Thanks for playing. We have a lovely consolation prize for you backstage.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: marcus_of_augustus on November 05, 2017, 06:21:25 PM

We should ask jbreher what is next for the one true coin,

It's already been discussed upthread. A hard fork to improve the difficulty adjustment algorithm.

Oh - by the way, the term is The One True Bitcoin^[tm]

yefi

legendary

Activity: 2842

Merit: 1511

Quote from: jojo69 on November 05, 2017, 03:49:53 PM

wisdom has been on autopilot for like a year

It's a shame the guy's abandoned it. For many of us, it's been the go-to site since the days of Clarkmoody.

Ludwig Von

sr. member

Activity: 854

Merit: 307

Quote from: lightfoot on November 05, 2017, 06:37:47 PM

It's down .2%? Huh

??

Fuck, time to look at Trabants.

Humm, a slightly romanticized post era version... . (As the owner too) :-)

LewisPirenne

full member

Activity: 140

Merit: 100

Quote from: itod on November 05, 2017, 04:06:37 PM

It's hard to notice this, even harder to explain. You can set it if you go to: http://statoshi.info/dashboard/db/mining and then choose "Last 7d" or "Last 30d" upper right. It looks like someone is turning enormous amount of mining power on and off the BTC chain, looks like randomly. I bet this is the cause of Bitcoinwisdom's difficulty prediction algorithm to go nuts.

It is just the effect of hashrate leaving for BCH chain when EDA manipulation or price pump makes it more profitable to mine BCH chain. Various Chinese pools such as VIABTC and BTC.TOP already sets the autopilot for jumping chain depending on relative profitability. This can lead to 30%~40% of hashrate leaving BTC chain. This often coincides with spam attack to bloat the mempool, with some tx paying 400+ satoshi/byte, i.e. 1 mbtc for fee on standard 225 byte tx and a few satoshi leftover as dust.
https://blockchain.info/address/1FLDCfr9iG7n6bAdGsqBXmhaLgC4aSze72

However, BTC went UP during all these time, further proving that people don't give a damn about tx fees or mass adoption or payment utility, at least the whales who can move price don't.

Torque

legendary

Activity: 3822

Merit: 5504

Quote from: jbreher on November 05, 2017, 07:00:32 PM

Quote from: toknormal on November 05, 2017, 03:12:06 PM

. Not one investor is remotely interested in blocksize, capacity or any other monetary vehicular niceties any more.

You might want to check that braggadocio. Other than the fact that your absolutest statement is demonstrably false, your position is reminiscent of Democrat party operatives a year ago.

Ok, so why don't you prove/demonstrate that his statement is false instead of being the snarky troll you always are.

jbreher

legendary

Activity: 3080

Merit: 1688

lose: unfind ... loose: untight

Quote from: toknormal on November 05, 2017, 03:12:06 PM

. Not one investor is remotely interested in blocksize, capacity or any other monetary vehicular niceties any more.

You might want to check that braggadocio. Other than the fact that your absolutest statement is demonstrably false, your position is reminiscent of Democrat party operatives a year ago.

lightfoot

legendary

Activity: 3220

Merit: 2334

I fix broken miners. And make holes in teeth :-)

It's down .2%? Huh

??

Fuck, time to look at Trabants.

_javier_

member

Activity: 444

Merit: 31

Still a manic miner

is this the healthy correction?

c`mon!!! Grin

try harder

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

Apparently you need to hard fork now! twice in 4 months to stay true to Satoshi's Vision.

We should ask jbreher what is next for the one true coin, if he has been having visions of divine inspiration for the next hard fork now! instructions being bought down from the mountain.

Quote from: Last of the V8s on November 05, 2017, 05:14:28 PM

Quote from: Torque on November 05, 2017, 04:45:56 PM

So let me get this straight.

The CME Group is supposed to launch Bitcoin futures trading on Nov 14th. Then, "The Idiots Who Shall Not Be Named" are set to launch SegWit2x on Nov 16th.

And everyone thinks this timing is nothing more than coincidental?? Huh

also the bitcoin cash jokers at the same time:
https://www.bitcoinabc.org/november
Bitcoin ABC has published version 0.16.0 which contains an updated Difficulty Adjustment Algorithm (DAA).

This is a change to the Bitcoin Cash consensus rules, but the change does not activate until November 13th. This is a hard fork, so exchanges, wallets, and other software need to upgrade before November 13th.

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