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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19590. (Read 26608259 times)

hero member
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Now that it slowly but surely becomes clear that Core is getting ditched for Classic by the community, the volatility is getting less. Once more details emerge about the implementation path of Classic, you can expect a rally.

There will be two coins of 21mn supply after the fork. The money supply will be doubled. Some that prefer the 25% variant will be dumping on the 75ers. The opposite may not even work due to lack of exchange support, lol.

[...]

Do you feel lucky?

I don't.

There has been a social engineering attack and it has been successful.

I thought it was Theymos who tried that. (And it failed, indeed.)

Quote
if core folds and goes to 2mb or segwit right now => it's theoretically better than turning btc into gavincoin but it's still a social engineering attack success, in terms of pushing things and breaking consensus under the threat of a hard fork.

As for as I know, it was Core who tried to push us into centrally planning the block size, instead of letting market forces find an optimum. They (and their allies) did their best to obstruct consensus, but it seems that consensus is about to be reached after all.

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The parameter that "btc fails because there is no space" is for technically ignorant people. At most some dust will transact with a lower priority due to zero or low fees.

Perhaps I'm technically ignorant. But I can tell when something starts to work badly. Apparently you can't. So either you don't use Bitcoin, or you are the ignorant one here.
legendary
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hero member
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Warning: Confrmed Gavinista

It's the fullblockalypse, the forkageddon and the second coming of satoshi combined.


Ha! Yeah, you're probably right!   Grin

Would all Messiahs please form an orderly queue and pick up a Cross on the left.....   Cool
hero member
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Quote
I have been following the recent block size debates through the mailing list. .....
Satoshi Nakamoto
I had not seen that letter until now, but it looks like a lot of vague bla-bla without even a hint of a technical argument.
I'll eat my hat if that was written by any of the very skilled mathematician/cryptographer(s) that designed bitcoin.

That letter is fake.  It was not know at the time, but Satoshi's mail account has been taken over -- no one knows how or when.  That was proved last September, when "Satoshi" sent a dox extorsion email from that address to some prominent bitcoiner.

Anyway, the phrase "in the face of widespread technical criticism and through the use of populist tactics" is a dead giveaway of its source.  I only cannot guess who wrote it because there are several people at Blockstream, and many more among its supporters, who would have used those words, would not have any scruples in sending a forged message to support their agenda, and are naive enough to think that the trick would work.

The second paragraph, moreover, is totally at odds with the very idea that makes the protocol work.
legendary
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Well, current crash is here for all the people who said that "btc can't break the 400 floor, it's impossible and if you believe it you're only an idiot"

I'm still happy I sold at 450 whatever they said!
legendary
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The volatility IMO is due entirely to the hard fork. A big player (likely miner) sold at 450 because they know what is coming.

The most obvious explanation is Mike's ragequit, which got wide exposure in the media (NYT, Motherboard, TechCrunch, Reuters, ...)  It was also commented in Chinese forums.  I can't think of any other suiltable explanation for the sudden drop.

After all this time, prof Stolfi hasn't learned TA. Mike's drama made the drop deeper, but it was coming anyway.
hero member
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The volatility IMO is due entirely to the hard fork. A big player (likely miner) sold at 450 because they know what is coming.

The most obvious explanation is Mike's ragequit, which got wide exposure in the media (NYT, Motherboard, TechCrunch, Reuters, ...)  It was also commented in Chinese forums.  I can't think of any other suiltable explanation for the sudden drop.
legendary
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Back to 450 on Monday

Hope so!

Wonder if we've heard the last of Mike cunt Hearn?
legendary
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legendary
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Back to 450 on Monday
newbie
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Let's think logic, my local bank in my country invested around 1 million $ in bitcoins last year. Do you think banks will allow for bitcoins to disappear?!

Luka, I'm not sure about your country (I'm guessing Malawi?), but in MY country $1 million is a reasonable amount for a branch office to spend on potted plants, or a company picnic. Banks are notorious for blowing through massive amounts of filthy fiat, a mil is nothing to them. They just print it out of thin air.

And I hope you're not saying that the banks are the ones who are keeping Bitcoin on life support. It's supposed to make legacy finance (banks and banksters) obsolete, remember?
legendary
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Which is contradicting the recent letter:

Satoshi contradicted himself on micropayments and scaling as well. Initially he was more bullish in terms of what Bitcoin could do but then became more realistic given the hardware/network constraints and network abuse that required more fees and block size limits. So depending the time-space coordinates you could take contradictory quotes even on the same issue.

He kind of postponed his bullishness for a time when tech would allow more.
legendary
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There was a spoofed message sent to the linuxfoundation mailing list that looked like it was sent by Satoshi through vistomail.com saying that Satoshi was not Craig Wright.
Theymos proved it was spoofed by checking where it really came from. I don't know how theymos did it, but couldn't he also check whether the Satoshi mail we are discussing is spoofed?


Of course he could.

But since the narrative of the message aligned with his own and with plenty of gullible salvationists like Alex hanging on his every word - why would he?

There is no salvation on the menu.

It's the fullblockalypse, the forkageddon and the second coming of satoshi combined. Let's fork bitcoin to "save it from failure" in order to trigger the event where he would be forced to officially declare it a failure - if it's him of course. That will work really well for everyone, forkers and non-forkers alike  Roll Eyes
legendary
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People are idiots... panic selling?  Grin  Grin  Grin
Don't you remember last year during first 6 months? Well, I do... there was 230-260$ price for 1 BTC, the same stories everytime... sell, buy, eat, sleep, fu*k, exchange...
WTF ?!
Price is 370$ which is very good in this moment! You think bitcoins will disappear?!!?

Let's think logic, my local bank in my country invested around 1 million $ in bitcoins last year. Do you think banks will allow for bitcoins to disappear?! There are bitcoins prepaid cards, there are ATM's all over the world, there are stores that are accepting bitcoins .. you really think it will suddenly be gone?

Also, it doesn't matter if you buy or sell, you send it to another wallet anyway, it never disappear no matter of what you have done... lol...

stop writing nonsense, bitcoins is 1st virtual currency in the world and will remain there
Agreed, bitcoin isn't going anywhere and 370.00 sure is a hell of a lot better still than 230.00 a couple of months ago.
legendary
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Ah, nothing changes. Another panic selling spike, another failed exchange, another Bitcoin obituary. Next up, another bubble perchance?
member
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When there is a technical issue at hand, not a social one.

I did'n follow the news. I thought there was a problem with bitcoin, not some social thing.
Looking into this, the first thing I see is a link to one of the first e-mails by the real Satoshi Nakamoto, which contains:
Quote
At first, most users would run network nodes, but as the
network grows beyond a certain point, it would be left more and more to
specialists with server farms of specialized hardware.  A server farm would
only need to have one node on the network and the rest of the LAN connects with
that one node.

Which is contradicting the recent letter:
Quote
For example I didn't anticipate pooled mining and its effects on the security of the network.

Stop wasting time on this hoax.
hero member
Activity: 546
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Warning: Confrmed Gavinista
There was a spoofed message sent to the linuxfoundation mailing list that looked like it was sent by Satoshi through vistomail.com saying that Satoshi was not Craig Wright.
Theymos proved it was spoofed by checking where it really came from. I don't know how theymos did it, but couldn't he also check whether the Satoshi mail we are discussing is spoofed?


Of course he could.

But since the narrative of the message aligned with his own and with plenty of gullible salvationists like Alex hanging on his every word - why would he?

hero member
Activity: 520
Merit: 500
People are idiots... panic selling?  Grin  Grin  Grin
Don't you remember last year during first 6 months? Well, I do... there was 230-260$ price for 1 BTC, the same stories everytime... sell, buy, eat, sleep, fu*k, exchange...
WTF ?!
Price is 370$ which is very good in this moment! You think bitcoins will disappear?!!?

Let's think logic, my local bank in my country invested around 1 million $ in bitcoins last year. Do you think banks will allow for bitcoins to disappear?! There are bitcoins prepaid cards, there are ATM's all over the world, there are stores that are accepting bitcoins .. you really think it will suddenly be gone?

Also, it doesn't matter if you buy or sell, you send it to another wallet anyway, it never disappear no matter of what you have done... lol...

stop writing nonsense, bitcoins is 1st virtual currency in the world and will remain there
legendary
Activity: 2380
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legendary
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Most of the blocks are full these days due to the high volume of transactions that is happening.
I do not know what is right for the block size but I believe it needs some upgrade soon

Dust & no fee transactions should be ignored, that'd sort it out until a later date.
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