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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17869. (Read 26610281 times)

sr. member
Activity: 434
Merit: 250
Ooh, shiny things!!
Looks like these minor fluctuations are getting much tighter now, breakout must be soon.

But which way will it break??

I call UP!!!!  Grin
sr. member
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
if you care about bitcoin miners continuing to provide a high level of power to mine and secure bitcoin...
then give them the means to control blocksize
with some control over blocksize miners can balance the fee pressure to maximize fees.
full member
Activity: 413
Merit: 100
https://eloncity.io/
Stop pretending that the present technology couldn't handle large blocks.

Stop pretending you know what you're talking about. There are hundreds of independent developers busy writing and testing code and weighing and discussing all the possible options. Out of that complicated process it was determined that Segwit is our best option right now and that large blocks (>4MB) are too risky for the stability and decentralized nature of the network at this point. After Segwit is deployed it will also be safer to increase the blocksize as Segwit also solves the quadratic scaling of hashed data. Hard forking now to larger blocks without first activating Segwit and solving quadratic hash scaling is just stupid and you'll also never get consensus for that. So why don't you stop complaining about Core and actually look and try to understand what it is they're doing? The divide in the community is purely based on ignorance and conspiracy thinking.

atm the divide between miners and devs are based on insults and broken promises. the code is out, but 3/4 of miners won't run it. what's the way forward?

This discussion used to annoy me a lot. But I'm increasingly minded that the market will sort it out. Ultimately, bitcoin will fit into whatever niche the market deems it suits best. I don't think it will ever (for many years) be irrelevant, but it will settle into the place it deserves.
Big blocks, small blocks, the market doesn't care. If there's an application that is required and bitcoin doesn't suit that, something else will take its place for that sector. Bitcoin as it stands will become whatever it is best suited for. My best guess at the moment is that it will be a store of value and currency of settlement between other protocols that are more specialised, thanks to its network effect and proven security.
There's a saying you get the politicians you deserve. I feel it's much the same for bitcoin.

I agree.  Bitcoin will have a market, the question is what?  A currency?  A commodity?  A store of wealth?  I think the latter two for now until the tax issues are dealt with;  Spending bitcoin today like a currency, in the US, requires you pay capital gains on the price you spent it -vs- bought it.  And that gets very complicated, unless our tax laws are changed.
So for now I see the main market for Bitcoin as a safety net, life boat, storage of wealth, especially in an inflationary environment.
legendary
Activity: 1764
Merit: 1031
Stop pretending that the present technology couldn't handle large blocks.

Stop pretending you know what you're talking about. There are hundreds of independent developers busy writing and testing code and weighing and discussing all the possible options. Out of that complicated process it was determined that Segwit is our best option right now and that large blocks (>4MB) are too risky for the stability and decentralized nature of the network at this point. After Segwit is deployed it will also be safer to increase the blocksize as Segwit also solves the quadratic scaling of hashed data. Hard forking now to larger blocks without first activating Segwit and solving quadratic hash scaling is just stupid and you'll also never get consensus for that. So why don't you stop complaining about Core and actually look and try to understand what it is they're doing? The divide in the community is purely based on ignorance and conspiracy thinking.

atm the divide between miners and devs are based on insults and broken promises. the code is out, but 3/4 of miners won't run it. what's the way forward?

This discussion used to annoy me a lot. But I'm increasingly minded that the market will sort it out. Ultimately, bitcoin will fit into whatever niche the market deems it suits best. I don't think it will ever (for many years) be irrelevant, but it will settle into the place it deserves.
Big blocks, small blocks, the market doesn't care. If there's an application that is required and bitcoin doesn't suit that, something else will take its place for that sector. Bitcoin as it stands will become whatever it is best suited for. My best guess at the moment is that it will be a store of value and currency of settlement between other protocols that are more specialised, thanks to its network effect and proven security.
There's a saying you get the politicians you deserve. I feel it's much the same for bitcoin.
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
Stop pretending that the present technology couldn't handle large blocks.

Stop pretending you know what you're talking about. There are hundreds of independent developers busy writing and testing code and weighing and discussing all the possible options. Out of that complicated process it was determined that Segwit is our best option right now and that large blocks (>4MB) are too risky for the stability and decentralized nature of the network at this point. After Segwit is deployed it will also be safer to increase the blocksize as Segwit also solves the quadratic scaling of hashed data. Hard forking now to larger blocks without first activating Segwit and solving quadratic hash scaling is just stupid and you'll also never get consensus for that. So why don't you stop complaining about Core and actually look and try to understand what it is they're doing? The divide in the community is purely based on ignorance and conspiracy thinking.

atm the divide between miners and devs are based on insults and broken promises. the code is out, but 3/4 of miners won't run it. what's the way forward?
sr. member
Activity: 434
Merit: 250
Ooh, shiny things!!
sr. member
Activity: 854
Merit: 262
.0001% get jail time for not paying taxes.
legendary
Activity: 3431
Merit: 1233
the value of the fiat is derived solely from government "backing",

The governmental backing is nothing but an empty promise. All functional money is based upon nothing but faith.

Government backing is not nothing. You have to pay your taxes in 'functional' money. If you don't pay taxes you go to jail. Government backing = brute force and nothing else. Simple, isn't it?
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
The question is how low will it go down this year will it be under 200 usd or will it hold the in 500 USD spot until it reaches the 1000 USD again.

support at 770-750  was pretty strong, and now the panic is over.
bottom fishers taking there 5% is the only thing ( besides to PBOC ) thats holding us back from climbing troward 900
can't take profit if you dump price... so i won't expect big dumps and intense volume.
back to the slow grind.
maybe we'll see 798.5 one last time, but dont expect that to cause any kind of panic selling...


That is b call koreck...    Wink  The killer pot is sounding a bit too sober this evening....   Cheesy Cheesy
sr. member
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
The question is how low will it go down this year will it be under 200 usd or will it hold the in 500 USD spot until it reaches the 1000 USD again.

support at 770-750  was pretty strong, and now the panic is over.
bottom fishers taking there 5% is the only thing ( besides to PBOC ) thats holding us back from climbing troward 900
can't take profit if you dump price... so i won't expect big dumps and intense volume.
back to the slow grind.
maybe we'll see 798.5 one last time, but dont expect that to cause any kind of panic selling...
legendary
Activity: 1694
Merit: 1003
The question is how low will it go down this year will it be under 200 usd or will it hold the in 500 USD spot until it reaches the 1000 USD again.
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
Just a Week ago i was active here and encountered that the btc was at 1065$ , and today i see tat it is again floating at 800$, Interesting.

What is so interesting about those two price snapshots?

A lot has gone on in regards to bitcoin's prices in the past few weeks, so those two price points seem a lot less interesting than other contextual matters. 
legendary
Activity: 3080
Merit: 1688
lose: unfind ... loose: untight
the value of the fiat is derived solely from government "backing",

The governmental backing is nothing but an empty promise. All functional money is based upon nothing but faith.
legendary
Activity: 1260
Merit: 1000
What do I mean? India was about 80% cash. Why would the people not just reply with 'fuck you - we'll just keep using these notes the same way we have been'. Nothing changes. 80% of all transactions continue being done in cash -- not recognized by the gubmint, but who the fuck gives a shit -- and Modi ( and his wall street financiers) get to stew over in the corner. I mean really -- for the people, what is the downside?

Because it fails in game theory exercise when you have an unorganized mass of people with no "Schelling point" of convergence.  In other words, the value of the fiat is derived solely from government "backing", yet the government just "unbacked" the currency to worthlessness.  This means you could never have more than a small, illogical minority group coming together with that as a solution.  Gold and silver on the other hand derive value irrespective of government, so the Schelling point in these types of situations is always going to be a mad dash to metals instead.

https://en.wikipedia.org/wiki/Focal_point_(game_theory)

hero member
Activity: 1876
Merit: 612
Plant 1xTree for each Satoshi earned!



Damn.. that's good.


But I guess its pretty much sideways(10-15$/day) for the next few days at least... I just see a ping-pong of 100-200CNY each day in their exchange with revised policies. But nothing too sharp and drastic.  Smiley
copper member
Activity: 2898
Merit: 1465
Clueless!
wait till it shoots over $1000 again and watch all the coulda woulda shoulda
hodelers sell their stash like theres no tomorrow

Then new FUD will emerge and 800 btc again. (I see an ugly trend here....back/forth up/down......they hate our btc flawless elegance and beauty) Smiley

legendary
Activity: 3388
Merit: 3514
born once atheist
wait till it shoots over $1000 again and watch all the coulda woulda shoulda
hodelers sell their stash like theres no tomorrow
sr. member
Activity: 378
Merit: 250
www.tgtcoins.com/ico
Just a Week ago i was active here and encountered that the btc was at 1065$ , and today i see tat it is again floating at 800$, Interesting.
sr. member
Activity: 812
Merit: 250
A Blockchain Mobile Operator With Token Rewards
maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

I remember the US briefly banned shorting during a crash years ago. It was legal until they decided to briefly ban it, then they unbanned it again and it went back to legal. China's the same, it's legal until they say it's not, then back to legal when they say it is.

naked shorts are really just a risk to the exchange itself.
there the ones leading out coins they dont have.
the exchanges probably hedge when / if they do this, they'll lead you 500BTC they dont have, and buy some "puts" or somthing.
really there just betting they'll make money because some will get liquidated... and that will cover their hedging costs and then some.
they lead you 500BTC, buy a put, price moves higher up, they use there put you get liquidated, and they profit big time.
Lol wouldnt suprize me at all this kinda shits happening...
 
unclear if PROC will put a stop to this, they play the same games...
sr. member
Activity: 292
Merit: 265
maybe one of the results of the chinese sniffing around is that we discover they've been naked short selling it all these years. could be fun.

isn't that legal tho?

i mean its an accepted practice on other markets.

I remember the US briefly banned shorting during a fiat/stocks crash years ago. It was legal until they decided to briefly ban it, then they unbanned it again and it went back to legal. China's the same, it's legal until they say it's not, then back to legal when they say it is.

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