Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19539. (Read 26609788 times)

It makes sense if you stop thinking about Bitcoin as an organic market, and start thinking about it as a Cash Cow controlled by Chinese Bitcoin Cowboys. Crash down to Long RLZ, and then right back up to Short RLZ within a few days? It's bullshit. It is a rigged casino designed to deprive the majority of thier funds. Perma bulls get the thrill of seeing their USD wealth inflate when 'they' pump but get that sinking feeling in their gut when they see their USD wealth evaporate when BTC crashes, and bears vice versa.

An organic market is 'the herd'. And it is possible to develop an acumen in the reading of charts and the use of statistical based tools, to forecast future herd movements. Bitcoin is not so much the herd, as the herd being rounded up by the Bitcoin Cowboys. 'They' have this market on the end of a piece of string like a fucking Yo Yo.

U will know how to read market signals. Look back at the consolidation formation prior to break out. It was saying bear all the fkn way. It was as though the formation was intentionaly designed to trick as many people as possible, and for those who had the audacity to still see it as Long (I was one of them), we even got a move down to take out lowest low, and wipe out all the long Stop Orders. 'They' did not want the public getting in on this at the bottom. 'They' wanted the public chasing the momentum. 'They' want the public to be buying Bitcoin right now! Buying 'their' Bitcoin, that they picked up $350-$380. Although, after that vicious engulfing Doji candle that hit right into 61.8% Short RLZ, only the most fucking stupid of investors are going to enter Bitcoin here, enter they still will, and last I checked, PoC is sitting up at $435...a likely upside target when all is said and done, but will I be attempting to ride it up? NOOOO!

Point is, everything about the crash, and everything about this 'miracle' rise, has fuck all to do with fundamentals, and everything to do with rigged market machinations. Rise was too fast, and it came from nowhere. Reminds me a bit of the March 2014 parabolic rise when Bitcoin surged from $580 - $710. Too much, too soon. Just not fucking sustainable, manufactured as fuck and we all know what happened next.

As soon as the 'top' is confirmed, I will be hunting shorts on Bitcoin targetting $310 area, cos that is where this fucker is going. But if that V bottom was anything to go by, I guess I shouldn't expect a nice easy double top M market structure to trade....I suspect only the chosen and the highly risk tolerant will get to short with the choice trade entry points.

Source? Hopefully you aren't basing this off of an unscientific Toomin like poll with small sample sizes and no controls of sample data.
I would also like to analyze the questions posed in the poll as that can greatly effect the responses.

I.E...  

1) Do you want to increase the block size for bitcoin to have very small fees for everyday tx's?

vs

2) Do you want the bitcoin chain to remain efficient and lean with a decentralized p2p payment layer that keeps tx's small for everyday purchases?

Users would likely say yes to both the above even when they are very different plans.

Adam, time for a new poll - what size blocks do you want?

What percentage of the mining pool is represented by "Haobtc, OKCoin, Bitmain, Bither, LIGHTNINGASIC" ? 

Source? Hopefully you aren't basing this off of an unscientific Toomin like poll with small sample sizes and no controls of sample data.
I would also like to analyze the questions posed in the poll as that can greatly effect the responses.

I.E...  

1) Do you want to increase the block size for bitcoin to have very small fees for everyday tx's?

vs

2) Do you want the bitcoin chain to remain efficient and lean with a decentralized p2p payment layer that keeps tx's small for everyday purchases?

Users would likely say yes to both the above even when they are very different plans.

Yeah, let's do that "wait to verify" thingy.

52% to 72% of hashpower*, two of the most respected developers**, plus what looks like a majority of community sentiment in favor*** are saying otherwise. Oh, right, and I forgot to mention loaded posted he's in favor of 2MB****


* Depending on whether you believe rumors of "false pledges of 2MB allegiance" by some pools.

**  Yes, yes, we know... "Gavin is a government shill!", "paid for by the banks", etc.

*** In here, across all forums of btctalk, perhaps doubtful -- but much less so on r/bitcoin and r/btc.

**** On reddit. Caveat: not via signed message, so could be fake.

You are incredulous or simply lack details of the announcement? Aaron van Wirdum is a respected journalist so I would give a little credence to his announcement and wait to verify.

You are incredulous or simply lack details of the announcement? Aaron van Wirdum is a respected journalist so I would give a little credence to his announcement and wait to verify.

52% to 72% of hashpower*, two of the most respected developers**, plus what looks like a majority of community sentiment in favor*** are saying otherwise. Oh, right, and I forgot to mention loaded posted he's in favor of 2MB****

* Depending on whether you believe rumors of "false pledges of 2MB allegiance" by some pools.

big blocker capitulation is close ... they have no logical ground to stand on and the whole edifice is crumbling, Crassic was just the Hearn echo swansong

The opening gambits made it clear that this was not going to go pleasantly. But considering his meticulous approach and questioning style, I fell he comprehensively failed to fluster JT, and simply became angry at the end. I think he tried to tease out some statement from JT that all hell would break loose during a HF, but couldn't make that point stick - JT shut him down pretty well.

How many times did he say "I'll get to that later" (which is code for "I know nothing more on that topic") ?

tl;dr It shouldn't have happened.

https://twitter.com/AaronvanW/status/690120783281156097

Confirmed: Chinese mining pools are sticking with Bitcoin Core.

Context and more details? I knew it was coming from the conversations , but just didn't expect it this quickly.

But it becomes clear that he has something else in mind:

Guy Cohen has a great line in adversarial cross examination! weasel words, statements dressed as questions, the lot.
And finally this: (referring to nodes)

So, its just iceBreaker/Adam Back, just better trained.

This is funny: (afer JT describes core_POW change as an alt coin)

Even funnier....

From hebrew.  No forks in hebrew.

He has a serious isue with core-pow being called an altcoin, I'm surprised JT didnt pick up on it and leverage it.


So we have been buying alt-coins for the last 4 years according to Mr. Cohen.  

I'll stop now as I'm bored as you probably are.


Still, I think Toomim did prety good, for someone with no legal/PR training.

1|Jonathan Toomim:2016-01-20 06:19:32:guy, are you in here?
1|Guy Corem:2016-01-20 06:19:46:Hi Jonathan
1|Guy Corem:2016-01-20 06:19:54:Thanks for logging in
1|Guy Corem:2016-01-20 06:20:01:Care to discuss possible governance change ?
1|申屠青春:2016-01-20 06:21:39:@jl2012 那是反社会了，马上被弹劾。
1|申屠青春:2016-01-20 06:22:05:下台
1|Jonathan Toomim:2016-01-20 06:22:46:in public?
1|Guy Corem:2016-01-20 06:22:53:Yes
1|Jonathan Toomim:2016-01-20 06:22:55:i'm open to a possible governance change
1|Guy Corem:2016-01-20 06:22:58:The only right way to do it
1|Jonathan Toomim:2016-01-20 06:23:06:olivier will probaby get annoyed with me for doing it in public
1|Jonathan Toomim:2016-01-20 06:23:08:and marshall
1|Jonathan Toomim:2016-01-20 06:23:11:and mike
1|Guy Corem:2016-01-20 06:23:14:please do
1|teksongbu:2016-01-20 06:23:19:why?
1|Guy Corem:2016-01-20 06:23:22:Thay's the correct way to do it, IMHO
1|Guy Corem:2016-01-20 06:23:34:Bitcoin world should be open free and clear of intrigues

1|Jonathan Toomim:2016-01-20 10:05:39:i think the majority of devs want to work on the majority coin, and won't want to play chicken once it's clear which one that is
1|Guy Corem:2016-01-20 10:05:58:Why do you object to my vision of comeptition ?
1|Guy Corem:2016-01-20 10:06:04:Isn't competition good ?
1|Guy Corem:2016-01-20 10:06:17:I mean, you didn't want to git-cherry pick ?

1|Guy Corem:2016-01-20 10:29:45:Once you are forced to do Hard Fork once
1|Guy Corem:2016-01-20 10:30:04:And see that it's not hat terrible (my believe, not core), they'll do it more often

There's even some stuff relevant to the WO-thread here:

1|申屠青春:2016-01-20 07:29:30:Chinese central bank want to issue digital currency...
1|Guy Corem:2016-01-20 07:29:43:(indeed. big news)
1|Guy Corem:2016-01-20 07:29:49:(thanks for the update)
1|Jonathan Toomim:2016-01-20 07:30:02:oh darn, i already sold my bitcoin to pay for electricity a few days ago...
1|Jonathan Toomim:2016-01-20 07:30:06:wish i had waited
1|Guy Corem:2016-01-20 07:30:12:
1|申屠青春:2016-01-20 07:30:20:[Grin]

1|Guy Corem:2016-01-20 09:03:39:or someone can fake it as well ?

1|Guy Corem:2016-01-20 09:11:15:With you permission, I want to call it Core + PoW change fork
1|Guy Corem:2016-01-20 09:11:21:And not altcoin
1|Guy Corem:2016-01-20 09:11:23:Ok ?

1|Guy Corem:2016-01-20 09:22:33:Let's assume Core is implementing both changes
1|Guy Corem:2016-01-20 09:22:38:And we have different PoW
1|Jonathan Toomim:2016-01-20 09:22:45:they
1|Guy Corem:2016-01-20 09:22:54:sure
1|Guy Corem:2016-01-20 09:23:02:(It's bad translation from Hebrew)
1|Guy Corem:2016-01-20 09:23:08:We as a community

1|Guy Corem:2016-01-20 09:30:12:That both ClassicCoin and CoreCoin are alt coins and the OldCoreCoins are the real one
1|Guy Corem:2016-01-20 09:30:22:I know that there are some people still using old clients
1|Guy Corem:2016-01-20 09:30:28:And call those coins BTC
1|Jonathan Toomim:2016-01-20 09:30:34:right, the original bitcoin has a 32 MB blocksize limit
1|Jonathan Toomim:2016-01-20 09:30:39:we stopped using Bitcoin years ago
1|Guy Corem:2016-01-20 09:30:41:indeed

Tl;dr

What happened tho??