Toomim on wechat (I think). Gives a little more insight to what has happened, and what he thinks, agree or disagree... worth a read if you can handle it... loooong.
http://pastebin.com/B8YQr5TQ
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19540. (Read 26609705 times)
January 21, 2016, 03:43:49 AM
January 21, 2016, 03:27:52 AM
You don't seem to understand. Bigblockers will win if we crash the price far enough to persuade the miners to switch. If we fail in that, it's because the price is going up and they have no reason to listen to us. (if it ain't broke, don't fix it). So it's simple. Just keep pumping until we go away. That's how you'll get us to capitulate.
Did you miss the bit when it's been tried & failed a number of times now?
We just have to be lucky once....
Jusr to be clear I don't really give a crap which chain wins. All I care about is that my bitcoin's are safe & hopefully become a lot more valuable than it is now price wise etc.
That's everybody's hope isn't it, to make lots of money from this 'thang'.
I don't wear an 'I love Core' t shirt under my sweatshirt or anyrhing, I just want to make money & see bitcoin succeed.
January 21, 2016, 03:11:37 AM
Good morning Chartbuddy.........
Thanks for letting us know that we are almost near 430$ which is where we were before the last crazy days.
OT: don't you all see the financial world out there is crumbling down while BTC grow strong against everything else? They said BTC is dead, far from it.
January 21, 2016, 03:02:34 AM
January 21, 2016, 02:37:56 AM
what did just happen to cause this pump?
That's what I was going to ask. Is it just because it dumped yesterday, so it's pumping today, or is there any news that made it pump? It's been range bound for the last half a week, and it could go back down to the lower end of the range if the pump's not because of any news, or perhaps it will break out of the range.
Then as I previously predicted, finally correct after 100 tries or so, the price would return to $420 by Tuesday. Not because of some grand news or feat but, simply because fiat takes longer to move around hence the need for such a great device like bitcoin.
January 21, 2016, 02:26:57 AM
I am doubting myself for being bearish but at the same time this pump does not make too much sense.
I feel like this should dump back down. What am I missing here?
I feel like this should dump back down. What am I missing here?
It's not back at $430, yet. Which is the pre-Hearn-Bitcoin-is-broken-crash level. So there's actually still a little more room in the pump for the Classic-effect.
January 21, 2016, 02:15:49 AM
In other news totally OT ... looks like the found evidence for Nibiru 
http://www.caltech.edu/news/caltech-researchers-find-evidence-real-ninth-planet-49523
purported home of the lizard queen and her people.
http://www.caltech.edu/news/caltech-researchers-find-evidence-real-ninth-planet-49523
purported home of the lizard queen and her people.
And lo! There was much rejoicing among buttcoiners for many years after.
Quote
"For the first time in over 150 years, there is solid evidence that the solar system's planetary census is incomplete."
Pretty cool tho
Planet Nine. Far out, man.
January 21, 2016, 02:09:13 AM
u short bro?
Hodling for life. Expecting a rough ride and fiat cannons on standby though. It's likely going to get like Mad Max up in here before the year is through.
January 21, 2016, 02:04:53 AM
Eventually yes, that would happen. Not right away because there is a lot of headroom of spam, crap, and low-value uses that will be forced off, ensuring that capacity is available, allowing ample time for improvements in capacity and throughput.
Fees rise, transactions stall, businesses, suddenly providing poor user experience go into reverse adoption. Nothing happens for months and months since there is no room for growth and then the halving happens, miners switch off and our transaction volume drops to 1/3 or less because you can't compensate for slower blocks by increasing the transactions per block and difficulty moves out to 30 days and then longer as declining value causes more miners to switch off.
u short bro?
January 21, 2016, 02:04:19 AM
In other news totally OT ... looks like the found evidence for Nibiru
http://www.caltech.edu/news/caltech-researchers-find-evidence-real-ninth-planet-49523
purported home of the lizard queen and her people.
http://www.caltech.edu/news/caltech-researchers-find-evidence-real-ninth-planet-49523
purported home of the lizard queen and her people.
And lo! There was much rejoicing among buttcoiners for many years after.
Quote
"For the first time in over 150 years, there is solid evidence that the solar system's planetary census is incomplete."
Pretty cool tho
January 21, 2016, 02:02:20 AM
January 21, 2016, 01:49:58 AM
In other news totally OT ... looks like the found evidence for Nibiru
http://www.caltech.edu/news/caltech-researchers-find-evidence-real-ninth-planet-49523
purported home of the lizard queen and her people.
http://www.caltech.edu/news/caltech-researchers-find-evidence-real-ninth-planet-49523
purported home of the lizard queen and her people.
January 21, 2016, 01:41:16 AM
since when it is not en vogue to drop some acid within the IT scene? ever heard of steve jobs?
Hell yeah! It was even tax deductible in my day....
January 21, 2016, 01:38:52 AM
@BjA If the PBoC gets out of line we can send LukeJr. in to change the algo on 'em. SHa69. Pit paff piffy. Inniit?
If the crytpos are united?
January 21, 2016, 01:37:48 AM
Bitfury said already yesterday that they wont support Classic.
edit: https://medium.com/@BitFuryGroup/keep-calm-and-bitcoin-on-4f29d581276#.r2d5cdk2i
That article says nothing of the sort. Read it again. Its a tacit approval for the concept of Classic if anything. But maybe thats just me!!
January 21, 2016, 01:37:21 AM
You don't seem to understand. Bigblockers will win if we crash the price far enough to persuade the miners to switch. If we fail in that, it's because the price is going up and they have no reason to listen to us. (if it ain't broke, don't fix it). So it's simple. Just keep pumping until we go away. That's how you'll get us to capitulate.
Did you miss the bit when it's been tried & failed a number of times now?
We just have to be lucky once....
January 21, 2016, 01:36:40 AM
Eventually yes, that would happen. Not right away because there is a lot of headroom of spam, crap, and low-value uses that will be forced off, ensuring that capacity is available, allowing ample time for improvements in capacity and throughput.
Fees rise, transactions stall, businesses, suddenly providing poor user experience go into reverse adoption. Nothing happens for months and months since there is no room for growth and then the halving happens, miners switch off and our transaction volume drops to 1/3 or less because you can't compensate for slower blocks by increasing the transactions per block and difficulty moves out to 30 days and then longer as declining value causes more miners to switch off.
This is the scenario without 1MB blocks and some complicated fix slated for 2017 (an eternity in internet time). I'm confident a fix will be applied but it's now too late to avoid a lot of people being hurt. This is not an argument for bigger blocks any more, it's a straight-up prediction. Buckle up.
January 21, 2016, 01:33:11 AM
-snip-
It is the long term economic model of a blockchain secured by fees that the ecosystem needs to observe and learn about, sooner rather later.
It is the long term economic model of a blockchain secured by fees that the ecosystem needs to observe and learn about, sooner rather later.
Yup, and I can't imagine a better time to do it than with 25 BTC reward blocks.
... not so much the rewards regime but such that it is before businesses get entrenched with feeless business models ... who would be screaming and shilling at much higher noise level than you witness today. Sorry to say but it seems quite a lot of VCs have blown investments building on a prototype protocol not the production version, which has always been in the planning and on the drawing board so it is their own failure.
Ten years from now, will the average fee paid for a typical bitcoin transaction be "greater than," "less than," or "equal to" the average fee paid today?
A. measured in BTC
B. measured in $
January 21, 2016, 01:32:07 AM
Why are we still discussing Classic like it's not a failed project already?
Didn't you get the news?
Didn't you get the news?
i didnt get the news. where to find it?
Here: https://botbot.me/freenode/bitcoin-core-dev/2016-01-20/?msg=58304091&page=2
thx
agree, that's it with classic.
I would take anything brg444 says with a pinch of salt as he completely lacks objectivity.
since when it is not en vogue to drop some acid within the IT scene? ever heard of steve jobs?
or:
http://www.telegraph.co.uk/news/newstopics/howaboutthat/12019140/Silicon-Valley-professionals-are-taking-LSD-at-work-to-increase-productivity.html
http://www.macworld.com/article/1014990/20pirates.html
Quote
This is where the film’s two most bizarre scenes occur, as Gates takes a joyride on a tractor in Albuquerque while Jobs takes LSD and pretends to conduct an orchestra in a psychedelic countryside. It’s just one of many places where the movie makes some clear comparisons between Gates and Jobs: Jobs has a drug trip that brings out his creativity; Gates acts like a fratboy and rams a borrowed car with a pilfered backhoe.
i dunno about you, but i prefer steve´s way.
January 21, 2016, 01:09:50 AM
-snip-
It is the long term economic model of a blockchain secured by fees that the ecosystem needs to observe and learn about, sooner rather later.
It is the long term economic model of a blockchain secured by fees that the ecosystem needs to observe and learn about, sooner rather later.
Yup, and I can't imagine a better time to do it than with 25 BTC reward blocks.
... not so much the rewards regime but such that it is before businesses get entrenched with feeless business models ... who would be screaming and shilling at much higher noise level than you witness today. Sorry to say but it seems quite a lot of VCs have blown investments building on a prototype protocol not the production version, which has always been in the planning and on the drawing board so it is their own failure.
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