Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20873. (Read 26608056 times)

It's bizzarre to me that anyone can claim that Bitcoin's PRIMARY utility is as a store of value. A store of value does not lose over 80% of it's market cap in less than 2 years.

Bitcoin needs to scale in order to survive. The people who sell bitcoin don't seem to think so. The people who buy Bitcoin absolutely do. Ever heard the saying "the customer is always right?"

If there ever was anyone who deserved to be DDOS'd to infinity and beyond it would be the coinwallet people. I think the Bitcoin community should all go together and pay for the CEO's apartment to be surrounded by PA systems that go "PING!" 120 times a minute each in order to "stress test" his ability to not jump out of the window.

Those were not real "spam attacks" because they used fixed and relatively low fees (0.2 mBTC/kB), so the backlog was easily bypassed by clients who knew what was going on.  

A real spam atttack will try to ajust the fees dynamically so as to keep some significant fraction of the legitimate traffic perpetually out of the blockchain, even while the legitimate clients adjust their fees to try to get through.  

At least that interview gave a plausible explanation for the "stress tests":  Coinwallet.eu has a wallet that, they claim, will correctly compute the fee needed to get through the traffic jams... that they create themseves.  Hum.  

It would be diabolically nice if someone else did a REAL spam attack during their stress test, so as to really test their supersmart wallet (and other supersmart wallets out there).  Their "stress test" may even save the spam attacker some coins...

Nah I've already decided crypto is a shit investment. Maybe long term holding works for some but if you want a day trading experience it's expensive.

I'm not going to pull my money out though. I'd feel shame.
I will give it every chance it to redeem itself. But I'm just ready for it to end. I want it to either die hard or give me my money back ASAP. I will continue to try to "make money" fight the good fight. But really i'm tired of this game. It just looks like a ponzi scheme to me. But before I was playing computer games, at least now i've gotten a new hobby to kill time.

FYI I'm actually invested in Litecoin, I was making it not so bad back with bitcoin, and would have maybe broke even in fact, but I saw litecoin as a shortcut when it went up 4 dollars in a month.

Now Litecoin does exactly what Bitcoin does, & is not going up like it used to. That litecoin boom was and still IS a ponzi scheme. Litecoin is the shitcoin. Don't fuck with it.

But i'm a fighter so It's all or nothing for me. I'll gladly take nothing if only to move on with my life & stop wasting time circling my pathetic investment. lol.

The value to me is having learned quite a bit about economics.
Not everything, but allot more that I used to know. So i've gotten a good education, and I know the cryptocurrency thing is a dud, unless perhaps you're an experienced trader and know the market very well. There is quite a bit to learn and it's a 24/7 job.

Some Chinese turds have my money and they control the market. Chinese are the most devious people on earth. They are cunning. I live in China now, it's a "me first" greed fest from what I can tell, but then my Chinese isn't so good. Otherwise they are not such bad people. But they want money and authority with a passion, it's a nationalistic thing and unconscious passion just like everyone else.

Unless I can somehow reverse this death spiral, and which I will try, but highly doubt, I consider crypto a no-go, unless using it perhaps to transfer money in very tight periods of time.

BUT It's simply not a good investment from a layman's perspective, because it's expensive and complicated to buy, you have to go through 2 or 3 middlemen just to get it, then 2 or 3 middlemen to use it. It also depreciates allot more than it appreciates. If for example I asked my boss to pay me in bitcoin i'd be in bigger straits than with fiat.

It's just a stupid game / experiment to me. I'd never put in money I actually need to survive in this ridiculous ponzi scheme.

But I liked the idea of Bitcoin. But I kinda agree with Snowden. It's obviously flawed.

Death can be a relief. So either way i'm happy.

I await my margin call... 

CoinWallet has already demonstrated their ability to perform a spam attack earlier this summer and I don't think they are bluffing about their intention of conducting another soon. I'd estimate the spam attack will start in the next week or two.

http://www.ibtimes.co.uk/coinwallet-plans-bitcoin-dust-attack-september-create-30-day-transaction-backlog-1515981

Question:   Core Vs XT
XT   - 101 (29.9%)
Core   - 175 (51.8%)
IDK   - 62 (18.3%)
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Total Voters: 338

So is this stress testing thing happening?

UK-based mining service CoinWallet is gearing up to conduct a stress test of the Bitcoin network in early September, which it said will likely render most standard wallet software "worthless" and create "nearly a 30-day backlog".

A CoinWallet representative told IBTimes in an email exchange: "I don't have a set date, but it will be early September. I'm too busy this month to fully devote a large amount of time to executing the 'test'.

When did news affect price anyway?

Back to 230, are positive news no longer affecting the price negatively?