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Explanation
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19628. (Read 26608321 times)
January 12, 2016, 11:01:55 PM
January 12, 2016, 11:01:15 PM
did anyone here get any news about bitcoin? why did the bitcoin from $450 to 430? 
is that an affection by the stock market recovery? would this lead bitcoin to either better or worse?
is that an affection by the stock market recovery? would this lead bitcoin to either better or worse?
January 12, 2016, 10:14:24 PM
My inner bull isn´t happy with this price action. It makes me think in an incoming dumpage.
I nailed it
January 12, 2016, 10:06:24 PM
Quote
I'll be blunt: I think Luke Dashjr fits the definition of a poisonous person, and I think Bitcoin would be better without him. At the very least, we wouldn't be creating two BIPs for every technical issue, one for Luke and one for the rest of us (see BIP 16/17, and now we have BIP 20/21, too).
LOOOOOL
January 12, 2016, 10:04:22 PM
Quote
I'll be blunt: I think Luke Dashjr fits the definition of a poisonous person, and I think Bitcoin would be better without him. At the very least, we wouldn't be creating two BIPs for every technical issue, one for Luke and one for the rest of us (see BIP 16/17, and now we have BIP 20/21, too).
LOOOOOL
January 12, 2016, 10:03:18 PM
Where's Satoshi when we need him lol I would love to know what the man himself thinks about all this 
January 12, 2016, 10:02:02 PM
January 12, 2016, 09:54:57 PM
Bitcoin mining is more like a cartel rather than a free market. When 4-5 people have supermajority, it's an issue.
A little different when these 4-5 people are backed by thousands who contribute hashes to them, and will move their hashes if they vehemently disagree with their decisions.
In development, we have even fewer people with permanent veto power to block any change involving a hardfork, because consensus. Oh, and these people happen to have formed a company, and have been given $21 mil to build a profit seeking business that can provide the medicine for a disease that they incubated... an issue indeed.
Too much blame for my preferences... It's not like altcoins have solved scaling or the attack vectors related to spamming (except by raising fees - which is the way for BTC too).
In the end of the day there is an equilibrium between the available transaction space, the fees paid, the abuse the network gets and the willingness of miners to mine transactions. And this equilibrium will not get any better (in favor of scaling) if either
a) the software itself doesn't gets better in terms of using storage, processing and network resources
b) the resources themselves aren't upgraded to cope, as technology improves
January 12, 2016, 09:53:45 PM
is crypto done??
January 12, 2016, 09:53:26 PM
From the RAND corporation virtual currency report:
"The report suggests that the U.S. Department of Defense should disrupt decentralized digital currencies to prevent “unprecedented global access to information and communication services that, at its core, is agnostic to the national security interests of the United States.”
Therefore, the RAND report suggests pre-emptive strikes and notes that “perhaps the best strategy for the United States and its allies to thwart a VC deployment would be to target those properties of a VC that would most increase its acceptance, most notably transaction anonymity, security, and availability.”
Link:
https://www.reddit.com/r/Bitcoin/comments/40lwsq/the_rand_corporation_report_national_security/
"The report suggests that the U.S. Department of Defense should disrupt decentralized digital currencies to prevent “unprecedented global access to information and communication services that, at its core, is agnostic to the national security interests of the United States.”
Therefore, the RAND report suggests pre-emptive strikes and notes that “perhaps the best strategy for the United States and its allies to thwart a VC deployment would be to target those properties of a VC that would most increase its acceptance, most notably transaction anonymity, security, and availability.”
Link:
https://www.reddit.com/r/Bitcoin/comments/40lwsq/the_rand_corporation_report_national_security/
January 12, 2016, 09:30:55 PM
Yep, I'm just ready to get on with the show. I think once done it will be good for bitcoin. End this madness lol
January 12, 2016, 09:25:18 PM
Idk I don't see the fork as really a big deal... just got to upgrade software like everything else.
I have had many alt forks with no issues or consequences. Just another day in crypto land
I think its all political almost and just gives everyone something to talk about lol
I have had many alt forks with no issues or consequences. Just another day in crypto land
I think its all political almost and just gives everyone something to talk about lol
https://bitcoinmagazine.com/articles/bitcoin-network-shaken-by-blockchain-fork-1363144448
We've even fallen ass first into a fork and we're still here.
Edit: @shmadz
This is a reason to go to 1200, we have a problem and it was not the end of the world, congratulations all
January 12, 2016, 09:22:50 PM
Our gracious politburo has deemed this information unfit for your consumption.
https://archive.is/UsUH3
Summarily deleted.
https://archive.is/UsUH3
Summarily deleted.
January 12, 2016, 09:19:19 PM
Bitcoin mining is more like a cartel rather than a free market. When 4-5 people have supermajority, it's an issue.
A little different when these 4-5 people are backed by thousands who contribute hashes to them, and will move their hashes if they vehemently disagree with their decisions.
In development, we have even fewer people with permanent veto power to block any change involving a hardfork, because consensus. Oh, and these people happen to have formed a company, and have been given $21 mil to build a profit seeking business that can provide the medicine for a disease that they incubated... an issue indeed.
January 12, 2016, 09:08:29 PM
You really think that all people capable of developing Bitcoin are on Blockstream's payroll? That doesn't sound very promising for our decentralized, trustless network.
Well, I don't see many others doing scaling work. Tampering the constant isn't improving the scaling fundamentals. This is a power grab by questionable people.
Quote
The Core devs had a chance and a clear endorsement by miners to start planning a hardfork after Hong Kong. They ignored it and offered to shoehorn in segwit with a soft fork to gain 0.6MB, with NO hardfork in the cards at all for the foreseeable future, and with the added side "benefit" of knocking possibly a majority of current nodes to SPV+ mode. Some miners didn't like that, this is how they demonstrate their disapproval.
If Core devs can't stand being second guessed by the free market... this is the way the free market could gently show them the door. If it never hits 75%, they have nothing to worry about and were right all along. It would be a clear vote of confidence in their chosen direction, a win-win.
If Core devs can't stand being second guessed by the free market... this is the way the free market could gently show them the door. If it never hits 75%, they have nothing to worry about and were right all along. It would be a clear vote of confidence in their chosen direction, a win-win.
Bitcoin mining is more like a cartel rather than a free market. When 4-5 people have supermajority, it's an issue.
January 12, 2016, 09:03:25 PM
Idk I don't see the fork as really a big deal... just got to upgrade software like everything else.
I have had many alt forks with no issues or consequences. Just another day in crypto land
I think its all political almost and just gives everyone something to talk about lol
I have had many alt forks with no issues or consequences. Just another day in crypto land
I think its all political almost and just gives everyone something to talk about lol
https://bitcoinmagazine.com/articles/bitcoin-network-shaken-by-blockchain-fork-1363144448
We've even fallen ass first into a fork and we're still here.
Edit: @shmadz
January 12, 2016, 09:03:03 PM
What's this? Recovering already?
Dead cat bounce?
"As low as possible for as long as possible."
And so I come to the wall observer to seek the wisdom of said observers to find only that they have been foolishly arguing about frivolous diversions from the current state of bitcoin, as if it were so easy...
Price up or Price down? And Why? .. Ok, I'll go first.
Disclaimer: I'm not putting any of my own money into this speculation. My position is set, I am not anticipating changing my position in the near future ( a few months at least)
I say, Price is going up.
Short, mid, and long term. ☝ UP! (Or zero, there is always zero)
I can see a scenario where the price will dip. This is, after all, an asset class that has a true worst outcome of zero. Like holding onto a rotting crop. There exists the chance this will all be worth nothing and it can happen so quickly that you may not be able to cash out in time.
All commodities are having trouble finding a value right now, or the market is trying to come to terms with the fraudulent nature of the entire system and it's relation to assigning some measure of value that makes sense.
Ok, that's it, sorry it got so long, if I get too wasted to stay up and read your prediction, (or if I don't anger your pm for a week) please have mercy on this old soul and don't hold it against me.
Dead cat bounce?
"As low as possible for as long as possible."
And so I come to the wall observer to seek the wisdom of said observers to find only that they have been foolishly arguing about frivolous diversions from the current state of bitcoin, as if it were so easy...
Price up or Price down? And Why? .. Ok, I'll go first.
Disclaimer: I'm not putting any of my own money into this speculation. My position is set, I am not anticipating changing my position in the near future ( a few months at least)
I say, Price is going up.
Short, mid, and long term. ☝ UP! (Or zero, there is always zero)
I can see a scenario where the price will dip. This is, after all, an asset class that has a true worst outcome of zero. Like holding onto a rotting crop. There exists the chance this will all be worth nothing and it can happen so quickly that you may not be able to cash out in time.
All commodities are having trouble finding a value right now, or the market is trying to come to terms with the fraudulent nature of the entire system and it's relation to assigning some measure of value that makes sense.
Ok, that's it, sorry it got so long, if I get too wasted to stay up and read your prediction, (or if I don't anger your pm for a week) please have mercy on this old soul and don't hold it against me.
January 12, 2016, 09:01:56 PM
January 12, 2016, 08:55:52 PM
China is trading and where are they going with this? It seems to have stabilized in the 420s which is good.
January 12, 2016, 08:55:03 PM
That slight drop was scary to see after just putting in a buy order. I considered making one of those "I just bought, dump incoming" threads but it seems I wasn't far off.
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