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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 28352. (Read 26609691 times)

hero member
Activity: 504
Merit: 500
Moderator
Looks like solid confirmed information to me.
I speak chinese fluently and i can tell through his accent that this is nothing but the truth.

PBOC Fonzie confirmed!

No in and out  --->Gox 2.0

Feel free to trade yourself to death (no fees  Shocked )
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner


is this completely made of BS? or did china ban bitcoin again.
hero member
Activity: 504
Merit: 500
Moderator
But when all those bad CHINA days are gone we all should come together and HODL

think about a huge ongoing FBI operation! cracking down smugglers,dealers, scammers, money launderer, drug dealer worldwide

starting with the very beginning of Bitcoin.

When that case is finished BTC may rise again.
hero member
Activity: 504
Merit: 500
Moderator
Confirmed!

What's confirmed ?  Please say it's $60 BTC Smiley

I´m sorry i can´t but <80$ is hard to imagine , even for me.
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
Looking at the volume, it appears to be one of the tremors before the big quake. The recovery to $445 is on no volume at all. I pulled one of my re-buy orders until I find out what the hell is going on. How can there be that many limit buy orders with no market-order buying?

There appears to be much expectation for a major liquidity event in the downward direction. There is a minute chance that this is a head-fake by whales, but I seriously doubt it.
If you can't spot the sucker at the poker table, then you are the sucker. I'm folding my hand to conserve chips.

What's that mean, exactly? 

I thought that you were all in Fiat at $456 or $458 or something like that. 

So at this point, you could buy some BTC back at a profit, no? and then if we dip lower, buy some more... unless you are saying that you are just going to sit out this roller coaster (a kind of train) in fiat?   

Personally, I would rather sit it out in BTC, but each of us have our own levels of diversification or hedge.
hero member
Activity: 966
Merit: 526
🐺Dogs for President🐺
Confirmed!

What's confirmed ?  Please say it's $60 BTC Smiley
hero member
Activity: 504
Merit: 500
Moderator
hero member
Activity: 966
Merit: 526
🐺Dogs for President🐺


are you alzu?

or are you just copy/pasting his work? Huh

It says under his avatar

Twitter - @alzu1977
sr. member
Activity: 252
Merit: 250
Forget arrows. On the bottom of this long 3d linear regression channel.



are you alzu?

or are you just copy/pasting his work? Huh
legendary
Activity: 2772
Merit: 1028
Duelbits.com
Forget arrows. On the bottom of this long 3d linear regression channel. We haven't been there for a long, long time.

sr. member
Activity: 269
Merit: 250

Let's suppose, just for argument, that the majority of the miners decided to raise the cap to 210 million BTC, and lower the difficulty so that mining became 10 times more productive in BTC terms.  What would happen?

Note that the total supply of bitcoins would not immediately increase, there would still be only 12 million BTC "in existence".  The flow of mined bitcoins would increase by some factor, but it would still be years before the remaining 9 million "old" BTC are mined and the "new" bitcoins start to be broken into.  The market value of bitcoin may drop somewhat, because of the loss of the "scarcity" aura (which was lost anyway when the altcoins sprung up); but it may also go up, because the future viability of mining would look less uncertain.  The utility of bitcoin as a medium of payment would not be affected (except perhaps momentarily by the change in market price); on the contrary, bitcoins would eventually be more evenly distributed, and a larger slice of the pie would go to those who are actually making bitcoin work.  And the increased "inflation" rate due to higher mining output would discourage hoarding.

Miners who chose to remain faithful to the "classical" protocol, with its cap and difficulty, would be making 1/10 of what their colleagues are doing; and will lose all their output if they fork and the other chain prevails.  Why would they do it?

You seem to be assuming that all miners are hoarders.  But they already must sell a large fraction of the BTC they mine in order to pay their energy bills and other expenses.  Many miners probably sell all their production, in order to have the profit in cash now rather than hope for the hypothetical future when one bitcoin may be worth a zillion dollars.  These miners do not care if the present BTC owners will own only 5% of all the money in that fantastic future, instead of 50% of it.

Note, I am not saying that this will happen, that its is likely to happen, or even that it would work in exactly those terms.  I am only pointing out that miners' greed (or simply their need to make ends meet) may well destroy bitcoin's supposed scarcity, rather than protect it.


Ultimately it makes no difference at all if the supply is fixed or not as long as miners get the transaction fees from mined blocks as a reward once the cap is reached. All you are really doing is changing the denomination. Proof of Work in the form that is being used will raise/lower difficulty in accordance to the computational power being thrown at the network. What difference does it make if you mine 50, 500 or 5million coins in one block or merely receive the fees?
The price will converge to what the market thinks it should be.

[edit] to clarify this. miners will mine if it is profitable to mine, even if it is just for the transaction fees
hero member
Activity: 504
Merit: 500
Moderator
where can i cash out large btc holdings with high withdrawal limit??

Bitstamp is ulimited after some intimidating KYC questions as far as i know?



Of course only if you don´t want to sell 100k at once?
Do you?
Maybe?
sr. member
Activity: 248
Merit: 252
>Let's suppose, just for argument, that the majority of the miners decided to raise the cap to 210 million BTC, and lower the difficulty so that mining became 10 times more productive in BTC terms.  What would happen?

The clients will rejects the blocks mined by these miners and everything goes on as normal, same as if the miners participating in the coup started mining PPC.

You are forgetting that miners aren't the only part of the network which keeps everyone in check.

Even if you have 90% of network hasharate, you can't change the rules at will. The only thing you *can* do is choose which transactions are recorded by never building on top of blocks containing unwanted transactions.
hero member
Activity: 910
Merit: 1003
Not quite. Miners will do whatever gives more benefit to themselves.  Is the 21 million BTC cap good for them?

Yes, it is.  Without it, their BTC would become worthless.
Would it?

Let's suppose, just for argument, that the majority of the miners decided to raise the cap to 210 million BTC, and lower the difficulty so that mining became 10 times more productive in BTC terms.  What would happen?

Note that the total supply of bitcoins would not immediately increase, there would still be only 12 million BTC "in existence".  The flow of mined bitcoins would increase by some factor, but it would still be years before the remaining 9 million "old" BTC are mined and the "new" bitcoins start to be broken into.  The market value of bitcoin may drop somewhat, because of the loss of the "scarcity" aura (which was lost anyway when the altcoins sprung up); but it may also go up, because the future viability of mining would look less uncertain.  The utility of bitcoin as a medium of payment would not be affected (except perhaps momentarily by the change in market price); on the contrary, bitcoins would eventually be more evenly distributed, and a larger slice of the pie would go to those who are actually making bitcoin work.  And the increased "inflation" rate due to higher mining output would discourage hoarding.

Miners who chose to remain faithful to the "classical" protocol, with its cap and difficulty, would be making 1/10 of what their colleagues are doing; and will lose all their output if they fork and the other chain prevails.  Why would they do it?

You seem to be assuming that all miners are hoarders.  But they already must sell a large fraction of the BTC they mine in order to pay their energy bills and other expenses.  Many miners probably sell all their production, in order to have the profit in cash now rather than hope for the hypothetical future when one bitcoin may be worth a zillion dollars.  These miners do not care if the present BTC owners will own only 5% of all the money in that fantastic future, instead of 50% of it.

Note, I am not saying that this will happen, that its is likely to happen, or even that it would work in exactly those terms.  I am only pointing out that miners' greed (or simply their need to make ends meet) may well destroy bitcoin's supposed scarcity, rather than protect it.
hero member
Activity: 504
Merit: 500
Moderator
where can i cash out large btc holdings with high withdrawal limit??

Bitstamp is ulimited after some intimidating KYC questions as far as i know?
full member
Activity: 207
Merit: 100
where can i cash out large btc holdings with high withdrawal limit??
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
omg such fud

want to delete....

No bad feelings if you do, but we really could be onto something, it´s CHINESE can´t you see

did china ban bitcoin again?
hero member
Activity: 504
Merit: 500
Moderator
omg such fud

want to delete....

No bad feelings if you do, but we really could be onto something, it´s CHINESE can´t you see
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
omg such fud

want to delete....
hero member
Activity: 504
Merit: 500
Moderator
fonzie FUD... It's all over?


我愛BTC。
但現在更好的恐慌性殺跌
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