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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20818. (Read 26608250 times)

legendary
Activity: 1260
Merit: 1002

Many consumers have exclaimed they will leave Bitcoin to go to an altcoin which suits their "needs" if they don't get their way in Bitcoin being perverted into a system to compete with Visa. What they don't realize is the consequences they will face if they choose this option.




full article: http://qntra.net/2015/09/consumers-begin-revolting-bitcoin-is-not-visa/

And what are the consequences?




read much?



before the end of 2015 there's about a thousand to a million different Bitcoin forks, each with its ten million-ish monetary base worth about a dollar, on global average.

The size of the inter-Bitcoins market, the complexity and confusion ensuing makes pretty much everything unmanageable for the "ordinary person".

Hedge funds and banks (the ones a little ahead of using Excel) that trade in this murky complexity make a killing and become the principal driver of economic growth worldwide.

Not only is the consumer about as screwed as is currently the case, but to everyone's benefit he has just been clearly proven yet again that revolt = being fucked in the ass harder, longer, with a thicker implement with sharper barbs on it.

Also conveniently, the thing to revolt at has become much more vague and intangible. On the balance of probabilities this would seem the most likely outcome, strictly because history unerringly flows in that direction which most cruelly rapes the "average person".






edit: maybe i should i add colors too?


edit edit: how about a picture? you like pictures, right?

legendary
Activity: 2590
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Welt Am Draht
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC

Many consumers have exclaimed they will leave Bitcoin to go to an altcoin which suits their "needs" if they don't get their way in Bitcoin being perverted into a system to compete with Visa. What they don't realize is the consequences they will face if they choose this option.




full article: http://qntra.net/2015/09/consumers-begin-revolting-bitcoin-is-not-visa/

And what are the consequences?
legendary
Activity: 1092
Merit: 1000


obviously, .... bitfinex needs to keep prices goxpumped to relieve the stress of all those leverage longs possibly closing which might accidentally cause the 'too big to fail" exchange to meltdown. 240+ is a good price for goxx exchanges right now. that why the price doesnt go down in case bitfinex might have to shutdown again and check every ones balances.
legendary
Activity: 1260
Merit: 1002
coindesk's centralization scaling conference:












More seriously..


Bitcoin's value proposition lies in its fixed inflation. No number of dollars meeting the market can increase the supply schedule. Trilema clearly explains:

There's pretty much literally nothing those extra dollars nobody wants can do to increase the Bitcoin supply. It's very, very inelastic, and consequently the only stability point is when equilibrium is reached. Two billion dollars divided by 600`000 Bitcoins comes to three thousand dollars and change per Bitcoin.

Bitcoin is faced with hitting another inelastic limit in its maximum transaction volume. Consumers have come to expect to get what they demand – "the customer is always right". As such consumers have begun to revolt due to them not getting their demand of Bitcoin competing with Visa or as Trilema predicted in 2013:

one of them is that consumers revolt, entrepreneurs intervene, before the end of 2015 there's about a thousand to a million different Bitcoin forks, each with its ten million-ish monetary base worth about a dollar, on global average. The size of the inter-Bitcoins market, the complexity and confusion ensuing makes pretty much everything unmanageable for the "ordinary person". Hedge funds and banks (the ones a little ahead of using Excel) that trade in this murky complexity make a killing and become the principal driver of economic growth worldwide. Not only is the consumer about as screwed as is currently the case, but to everyone's benefit he has just been clearly proven yet again that revolt = being fucked in the ass harder, longer, with a thicker implement with sharper barbs on it. Also conveniently, the thing to revolt at has become much more vague and intangible. On the balance of probabilities this would seem the most likely outcome, strictly because history unerringly flows in that direction which most cruelly rapes the "average person".

Many consumers have exclaimed they will leave Bitcoin to go to an altcoin which suits their "needs" if they don't get their way in Bitcoin being perverted into a system to compete with Visa. What they don't realize is the consequences they will face if they choose this option.




source: http://qntra.net



http://qntra.net/2015/09/mit-sacrifices-rag-in-xtcoin-push/  Lips sealed
legendary
Activity: 3556
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#1 VIP Crypto Casino
legendary
Activity: 1386
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Permabull Bitcoin Investor
legendary
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
hero member
Activity: 644
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Bitcoin replaces central, not commercial, banks

miners want bip100. case closed.

Fortunately Bitcoin is not about doing what the miners want.
ImI
legendary
Activity: 1946
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miners want bip100. case closed.
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
Core still winning:
Quote
Poll
Question:   Core Vs XT
XT   - 124 (29.5%)
Core   - 209 (49.8%)
IDK   - 87 (20.7%)

This is what matters: http://xtnodes.com/

Look at the pie at the bottom right.

Agree, XT is going nowhere except down until it's doomed.


i heard next week the fed holds their meeting. will they up interest rates ?? i doubt they will. instead they will point at what happened with china to excuse themselves from the obvious fakelands ... will they announce QE4... probably not just yet.. it might be just a bit too early for them to make that move too. however, honestly, i dont really know. i think we will do more obama dancing around pretending like he is really doing something as everything continues to slowly crumble around him....rekt.

-snip-

Obama is dancing around like a ninny because americans turn around every two years and vote for fucking republicans for Congress. Republicans have had one goal for the last 8 years: make Obama look like a worse President than Bush. They don't care if they destroy the country in the process. And you lot keep voting for them.
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
Core still winning:
Quote
Poll
Question:   Core Vs XT
XT   - 124 (29.5%)
Core   - 209 (49.8%)
IDK   - 87 (20.7%)

This is what matters: http://xtnodes.com/

Look at the pie at the bottom right.

Agree, XT is going nowhere except down until it's doomed.

It moved the debate from "Bitcoin can't/won't scale... LN, Blockstream Sidechains are the solution." to "Max blocksize will increase soon, just not so dramatically." It also showed the Core project that their control is not divinely sanctioned and inalterable.

For those two reasons I would call it successful.

I agree

However, if core devs don't agree on something substantial soon I think we may all be praising the hearncoin soon. Everyone watches the debate, if the climate changes XT might get a sudden boost. If people really wants larger block sizes and have to choose between BIP100, BIP101(XT), BIP102, BIP105 or BIP106 without agreement among core devs, I think XT has a good chance of pulling ahead.
hero member
Activity: 748
Merit: 500
How do you collect coins from spam transactions? I don't get it  Cry
legendary
Activity: 1092
Merit: 1000
Core still winning:
Quote
Poll
Question:   Core Vs XT
XT   - 124 (29.5%)
Core   - 209 (49.8%)
IDK   - 87 (20.7%)

This is what matters: http://xtnodes.com/

Look at the pie at the bottom right.

Agree, XT is going nowhere except down until it's doomed.


i heard next week the fed holds their meeting. will they up interest rates ?? i doubt they will. instead they will point at what happened with china to excuse themselves from the obvious fakelands ... will they announce QE4... probably not just yet.. it might be just a bit too early for them to make that move too. however, honestly, i dont really know. i think we will do more obama dancing around pretending like he is really doing something as everything continues to slowly crumble around him....rekt.


sr. member
Activity: 392
Merit: 250
Core still winning:
Quote
Poll
Question:   Core Vs XT
XT   - 124 (29.5%)
Core   - 209 (49.8%)
IDK   - 87 (20.7%)

This is what matters: http://xtnodes.com/

Look at the pie at the bottom right.

Agree, XT is going nowhere except down until it's doomed.

It moved the debate from "Bitcoin can't/won't scale... LN, Blockstream Sidechains are the solution." to "Max blocksize will increase soon, just not so dramatically." It also showed the Core project that their control is not divinely sanctioned and inalterable.

For those two reasons I would call it successful.
legendary
Activity: 1386
Merit: 1027
Permabull Bitcoin Investor
Core still winning:
Quote
Poll
Question:   Core Vs XT
XT   - 124 (29.5%)
Core   - 209 (49.8%)
IDK   - 87 (20.7%)

This is what matters: http://xtnodes.com/

Look at the pie at the bottom right.

Agree, XT is going nowhere except down until it's doomed.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
Core still winning:
Quote
Poll
Question:   Core Vs XT
XT   - 124 (29.5%)
Core   - 209 (49.8%)
IDK   - 87 (20.7%)

This is what matters: http://xtnodes.com/

Look at the pie at the bottom right.
full member
Activity: 167
Merit: 100
Core still winning:
Quote
Poll
Question:   Core Vs XT
XT   - 124 (29.5%)
Core   - 209 (49.8%)
IDK   - 87 (20.7%)
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
Looks like the spam attack is in full effect. All recent blocks have been larger than 900kB. The latest was 999975 bytes.

That's ridiculous, this isn't a stress test it's a spam fest. What exactly are the doing it for, we all know what happens from previous stress tests.

In my opinion this is just them trying to get exposure & publicity via the bitcoin media. Pathetic really.

It's assholism at its finest. It pollutes the debate.
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