Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 17882. (Read 26611256 times)

+1!

LN is inevitable and desirable ( very desirable )
and same goes for bigger blocks...
the solution is so obviously "both" its not even funny.
segwit softfork is a magic trick, if you dont know how its done you're amazed, if you do you're unimpressed.
we need simple incress and simple segwit.
we need these things hardforked in, and we need to utilize synthetic forks to do that gracefully.
we need a to foster an dev environment which enables free choice, not free to use core0.12.1 or core0.13.1
the devs are here to service the network, not the other way around.

what the world wants the world gets. only question is who will provide.

Stop pretending that the present technology couldn't handle large blocks.

Perhaps the solution is to do both (blocksize increase and off-chain LN type deal)

But you can't just do one, or the other. Core has refused to compromise over and over, they refuse to raise the blocksize to even 2mb which pretty much everyone agrees could be very EASILY handled.

Core has shown they have no leadership skills, no vision and are motivated primarily to their own self-serving egos. They do not serve the greater whole. Furthermore, they engage in a deceptive campaign of censorship and other shady tactics to force their own side to "win", this has needlessly damaged the Bitcoin community itself by refusing to even allow certain discussions. The community has been effectively divided in this way. Can you even quantify the damage that has been done to all of us as a result of this?

You can ignore it all if you want, but it will hurt you in the end.

Hey, I've just noticed a pattern that this crash fits into, but it's only visible at very long range. (You need a big screen preferably to see this - pull the browser page out wide if you can to grow the image to full size. Sorry I couldn't get the pattern very visible at small scale).

This correction may not be as bearish as we think and seems to fall into a "family" of profit taking moves associated with the rise that started back around July 2015.

It appears that every 7-8 months (every 4-5 months earlier in the rise) there's a big profit take like this which always happens at the top of a spike when the market gets ahead of itself. (I call them "propellor corrections" because they look like an aircraft propellor from side on since the price corrects to about the same distance below the trend line as the 'overheat' got above it). All the same there's a longer, underlying trend where the upwards revaluation grows steadily steeper, even despite these crashes along the way.

When the pressure-relief gasket blows on these bubbles it always corrects to just below the top of the previous propellor pattern. Same every time but increasing in size. Then there's a period of consolidation, followed by a slow rise, then steep rise and another gasket-blow.

Each time the correction gets bigger, but it still seems to stick to the rule of dropping to just below the last spike so that the growth trend isn't broken. I now think I'm not the only one to have noticed this and that big players are actively trading this pattern, watching for the overheat-spike and knowing exactly when to profit take, driving that bubble into full temporary reverse with shorts for maximum profit. But they also must know how far to take it because the last spike gives the reference level.

This one was perfectly timed - 7 months exactly.

Judging by its size and perfectly placed timing, we could be in for a very big rise over the next 8 months if the long term trend continues because the vertical distance between each "overheat" phase increases each time by about 60% to 70%.

Just sayin. Context is everything

Aw c'mon mastertzup - you were willing to throw out $660 when we were at $1100 and many called you crazy!

I'd love to know whether the past few days market activity has shifted your number up, down, or unchanged.

...

It's hilarious to see Huobi trading at $25 less than the western exchanges. Let's see how long that lasts.

Stop pretending that the present technology couldn't handle large blocks.

If this was an ABC, then it's probably completed the C, and now it's building a triangle. Support could be tested over the next days, so a bit cheaper than right now is possible.

Many thanks for the cheap coins.

Tzupy, where is the final leg of the sell off? I hoped to get some even cheaper.

Some solid TA for once. Didn't catch that wedge myself

Stop pretending that the present technology couldn't handle large blocks.

Perhaps the solution is to do both (blocksize increase and off-chain LN type deal)

But you can't just do one, or the other. Core has refused to compromise over and over, they refuse to raise the blocksize to even 2mb which pretty much everyone agrees could be very EASILY handled.

Core has shown they have no leadership skills, no vision and are motivated primarily to their own self-serving egos. They do not serve the greater whole. Furthermore, they engage in a deceptive campaign of censorship and other shady tactics to force their own side to "win", this has needlessly damaged the Bitcoin community itself by refusing to even allow certain discussions. The community has been effectively divided in this way. Can you even quantify the damage that has been done to all of us as a result of this?

You can ignore it all if you want, but it will hurt you in the end.

Stop pretending that the present technology couldn't handle large blocks.

Ahh those bloody idiots are back 

Can you do no maths? How big will the blocks need to be to "handle an increase in 100 million+ users"  yeah maths are hard. Please fork off already to your alt and have fun just don't call it bitcoin to confuse people

Long term support for the bottom:

img width=960]https://i.imgur.com/Kv72luB.png[/img]

Descending wedge in the shorter term:



Descending wedges are typically reversal patterns, and we would have to break a strong support line to defy expectations upon pattern resolution. The support line will force the shorter term descending wedge to terminate before its forced termination at convergence. The two trends converge by 1/18 14:00.

I am expecting one more leg downwards, constrained by both the wedge and support.
If these hold, then the lowest low would be $686.

The big-blockers need to fork off already so that we can get on with Project Bitcoin, Satoshi's Vision and not this twisted Kore-Coin crapola.

If we don't, price will continue to stagnate.

Bitcoin has the potential to benefit in infinite ways from the global economic turmoil that is around the corner. In this way, BTC's price could spike to unimaginable highs. But it will never happen with no scaling solution, BTC simply could not handle an increase in 100 million+ users. There is no time to wait 5 years for this imaginary "Lightning Network" to suddenly manifest from vaporware into reality.

FORK IT ALREADY.