bitcoin is flawed , its decline is only a matter of time
And Ripple isn't?
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 22302. (Read 26641016 times)
March 25, 2015, 04:59:31 AM
And Ripple isn't?
March 25, 2015, 04:58:49 AM
March 25, 2015, 04:57:17 AM
Any other HODLER's at a huge loss over all?
Me.....
Me.....
March 25, 2015, 04:56:33 AM
bitcoin is flawed , its decline is only a matter of time
March 25, 2015, 04:53:28 AM
Its always so funny to watch how easily greedy pigs are being manipulated with chinese wash volume, same shit over and over again and fools still buy into rigged bulltraps.
Can't you and Tarmi turn to less coloured language so I won't have to put you on ignore?
Lol, m8, go ahead, ignore obvious facts, im not a "bear troll" i just warn people here, because i do hate those fuckers who control btc market, they fuck it when they want and in any hole they want, now they are creating the final shake off before a true reversal. Its funny and sad to watch how people are getting bulltraped following wash chinese volume over and over again. I used to do same thing when i was a noob trader, but now i figured out where is the real "pump" and where is the fake one like that crap which is happening on goxobi/okgox righ now.
I'm not looking for a reason to ignore you. I value your input. But it's hard to deal with being called a "greedy pig", and worse, when I am losing money like Charlie Sheen on a weekend trip to Vegas.
March 25, 2015, 04:52:48 AM
and flush!?!?! The price going down now.... to which level?
??
?? March 25, 2015, 04:49:56 AM
*faceplant*
And of course miners can't switch mining pools
.
EDIT: And whether it cost a billion or a few dollars to create your own mining farm that controls >50 percent of the network doesn't matter at all...
And of course miners can't switch mining pools
.EDIT: And whether it cost a billion or a few dollars to create your own mining farm that controls >50 percent of the network doesn't matter at all...
My point was that increased amount of hashrate doesn't increase the security of the network, and it doesn't. (a)The existing pools are still as fragile as they are, no matter the hashrate.
(b)About the cost of obtaining control over the network. PoS mining solves the same problem much more efficiently. Someone would have to buy up enough coins to obtain control, but that means that he would also have the biggest stake in that coin and the biggest interest for the network to be secure. The same problem would be answered MUCH cheaper and future-proof. The bitcoin miners are the monkeys on markets back. PoW mining is keeping the production cost high, while it shouldn't have to be high. The future of monetary services is in offering more efficient and cheaper solutions, not offering new bloated systems that reward useless people doing useless work.
a) Miners are very picky about pools, if something is wrong they switch. This is not "in theory", it happens all the time. Do you remember Ghash.io from last summer? Where are they now?
b) PoS has a huge image problem and it's unproven on a large scale.
March 25, 2015, 04:48:04 AM
Its always so funny to watch how easily greedy pigs are being manipulated with chinese wash volume, same shit over and over again and fools still buy into rigged bulltraps.
Can't you and Tarmi turn to less coloured language so I won't have to put you on ignore?
Lol, m8, go ahead, ignore obvious facts, im not a "bear troll" i just warn people here, because i do hate those fuckers who control btc market, they fuck it when they want and in any hole they want, now they are creating the final shake off before a true reversal. Its funny and sad to watch how people are getting bulltraped following wash chinese volume over and over again. I used to do same thing when i was a noob trader, but now i figured out where is the real "pump" and where is the fake one like that crap which is happening on goxobi/okgox righ now.
where is the bulltrap in resent events?
March 25, 2015, 04:47:10 AM
Hong Kong declines to regulate bitcoin.
Original Source = reuters in chinese
http://cn.reuters.com/article/2015/03/25/hk-regs-idCNKBS0ML0N820150325
Here is translation
https://archive.today/X9aHP
Original Source = reuters in chinese
http://cn.reuters.com/article/2015/03/25/hk-regs-idCNKBS0ML0N820150325
Here is translation
https://archive.today/X9aHP
March 25, 2015, 04:46:18 AM
wait till the middle of the night in the u.s , slam the market with 3000 coins in 5 minutes = guaranteed carnage ... sure is fun watching $$$ burn ... $850,000,000 worth of market cap devaluation in 5 days time ... if you all can destroy a billion $$$ in value in a week i think there's a trophy for that ...
Yeah, destroying wealth is hilarious.
Believing that market valuation is wealth is hilarious.
No bitcoins are actually being destroyed here, they are just changing owners.
Wall Observer Economics
(Economical-) Wealth is the result of buying power. If you hold bitcoins your buying power is decreasing, so your wealth is decreasing also.
March 25, 2015, 04:43:18 AM
2000 coin wall being eaten alive on finex @246.48. And so it goes on... 
That was a fun morning!
That was a fun morning!
March 25, 2015, 04:40:58 AM
Its always so funny to watch how easily greedy pigs are being manipulated with chinese wash volume, same shit over and over again and fools still buy into rigged bulltraps.
Can't you and Tarmi turn to less coloured language so I won't have to put you on ignore?
Lol, m8, go ahead, ignore obvious facts, im not a "bear troll" i just warn people here, because i do hate those fuckers who control btc market, they fuck it when they want and in any hole they want, now they are creating the final shake off before a true reversal. Its funny and sad to watch how people are getting bulltraped following wash chinese volume over and over again. I used to do same thing when i was a noob trader, but now i figured out where is the real "pump" and where is the fake one like that crap which is happening on goxobi/okgox righ now.
March 25, 2015, 04:40:11 AM
*faceplant*
And of course miners can't switch mining pools .
EDIT: And whether it cost a billion or a few dollars to create your own mining farm that controls >50 percent of the network doesn't matter at all...
And of course miners can't switch mining pools
.EDIT: And whether it cost a billion or a few dollars to create your own mining farm that controls >50 percent of the network doesn't matter at all...
My point was that increased amount of hashrate doesn't increase the security of the network, and it doesn't. The existing pools are still as fragile as they are, no matter the hashrate.
About the cost of obtaining control over the network. PoS mining solves the same problem much more efficiently. Someone would have to buy up enough coins to obtain control, but that means that he would also have the biggest stake in that coin and the biggest interest for the network to be secure. The same problem would be answered MUCH cheaper and future-proof. The bitcoin miners are the monkeys on markets back. PoW mining is keeping the production cost high, while it shouldn't have to be high. The future of monetary services is in offering more efficient and cheaper solutions, not offering new bloated systems that reward useless people doing useless work.
March 25, 2015, 04:37:37 AM
wait till the middle of the night in the u.s , slam the market with 3000 coins in 5 minutes = guaranteed carnage ... sure is fun watching $$$ burn ... $850,000,000 worth of market cap devaluation in 5 days time ... if you all can destroy a billion $$$ in value in a week i think there's a trophy for that ...
Yeah, destroying wealth is hilarious.
Believing that market valuation is wealth is hilarious.
No bitcoins are actually being destroyed here, they are just changing owners.
not true... the bitcoins inside my heart .... they slowly die in times like these...
March 25, 2015, 04:32:37 AM
Its always so funny to watch how easily greedy pigs are being manipulated with chinese wash volume, same shit over and over again and fools still buy into rigged bulltraps.
Can't you and Tarmi turn to less coloured language so I won't have to put you on ignore?
March 25, 2015, 04:31:29 AM
bitcoin is overrated and overpriced
For now though, yes it is, maybe Bitcoin should go under $100 and stabilize the price. But if it goes too low, the miners will become unprofitable and they will leave.
Miners will leave well before $100
What happens if the price go under 100 dollar, will miners leave and bitcoin die???
A lot of miners are stretched pretty thin as it is. If it drops below $100 dollars a huge part of the network will probably turn everything off within a short time frame. Electricity cost is not all they have to worry about. Capital costs, rent and salary makes this piece of math more difficult. And if it's timed wrong this could result in a month or more of really slow transfer speeds with 20-30min on average between blocks, and several hours in individual cases. Bitcoin will muddle through, but if that happens the price will probably drop further. Ie. there are no "cheap coinz" in the $60-140 range.
March 25, 2015, 04:31:10 AM
i've got the joy joy joy joy down in my heart ! where ? down in my heart ! where ? down in my heart ! i've got the joy joy joy joy down in my heart ! toooo staaaay !
March 25, 2015, 04:24:18 AM
Its always so funny to watch how easily greedy pigs are being manipulated with chinese wash volume, same shit over and over again and fools still buy into rigged bulltraps.
March 25, 2015, 04:22:40 AM
bitcoin is overrated and overpriced
For now though, yes it is, maybe Bitcoin should go under $100 and stabilize the price. But if it goes too low, the miners will become unprofitable and they will leave.
Miners will leave well before $100
The miners are not needed anyway, since most mining runs through only a few pools. The security the network is only supported by the security of the biggest pools. If the biggest pools, that make up at least 51% together, are compromised, then the integrity of the network is also compromised. And it doesn't matter how much hashrate is backing those pools.
And of course miners can't switch mining pools
.EDIT: And whether it cost a billion or a few dollars to create your own mining farm that controls >50 percent of the network doesn't matter at all...
March 25, 2015, 04:18:18 AM
bitcoin is overrated and overpriced
For now though, yes it is, maybe Bitcoin should go under $100 and stabilize the price. But if it goes too low, the miners will become unprofitable and they will leave.
Miners will leave well before $100
The miners are not needed anyway, since most mining runs through only a few pools. The security the network is only supported by the security of the biggest pools. If the biggest pools, that make up at least 51% together, are compromised, then the integrity of the network is also compromised. And it doesn't matter how much hashrate is backing those pools.
Pure PoW mining is highly flawed. Miners are siphoning wealth out of the market, while contributing nothing significant.
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