Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[gentlemand]

If it were me I would've sold the BCH on Bittrex, withdrawn the BTC and sold them OTC.

Kraken is a creaking poohole.

[x2666]

Price is getting ready to hit 5000 USDT withing this week , many sold bitcoin early today in huge panic sale manipulation .

Don't make me laugh, this recent recovery from the dip back to $4xxx is a suckers rally. Look at it putter out already.

[gentlemand]

What consists of proving your funds?

Those numbers look nice. They don't make up for rotten service and cranky functionality.

It'll be fine but if it were me I'd go straight to Genesis Trading and cut out the faff.

[gentlemand]

Paystub, tax return, or bank statement showing payroll deposits.

I could be a homeless bucker who got tipped 10,000 BTC in 2010 and found the private key again rummaging around in my cardboard. It seems a little unfair they'd limit me so much for not having totally inapplicable and irrelevant scraps of paper.

[BlindMayorBitcorn]

Is the community going to want to recognize BCH as the "one and only?"  

Time shall tell...

Some muddle-headed millionaire forked off an alt. What's all the excitement about? I don't get you sometimes.

I get that you don't get me. Then again, you don't get Bitcoin Cash. Perhaps you are too locked into this echo chamber?

It is not that 'some muddle-headed millionaire forked off an alt'. Rather, a significant fraction (absolute magnitude unknown) got tired of arguing over the proper route forward for Bitcoin, and did something about it.

Better yet, several scant days into the project, all is going according to plan. That's where the excitement lies.

Though you did get a bonus of between 5% and 40%, depending upon when you hopped off. And you're complaining about it. I don't get you sometimes. XD

1. He is a muddle headed millionaire. He's also an egotistical megalomaniac, "I was the first investor", I'm the biggest shareholder", "I know about economic code", "homogeneous is another word for privacy", etc, etc.

2. What did this "significant fraction" do? Ah yes, congested the network with spam to drive transaction fees up, which the muddle headed clown then proceeds to blame the core team for, banging on about a horrible user experience.

3. All is going according to plan? What, coordinated pumps of BCC at the same time as dumping BTC to drive the price of the shitcoin up so they get more BTC for it? Great plan, excellent.

Whoosh. There it goes. Over your head.

Anyways....

Of course, I realized the implication was about Roger Ver. Here's the thing though. Roger had zero to do with the creation of Bitcoin ABC, which ended up the catalyst that kicked this big block initiative over the hump. Sure, he likes it, but he was not -- and is not -- a driving force to its creation. This is a team effort. By a rather large team.  Hence my comment about this here echo chamber.

I get that you're a really smart guy. But I still don't get it.

::le sigh:: I hope you and NewWorldCoiner aren't the same person. I assume not. Anyway...

My view of Bitcoin Cash is that it is simply Bitcoin with Bitcoin's most crippling flaw addressed. As such, I expect it to -- in not a lot of time -- become nearly-universally viewed as the One True Bitcoin.

I understand that others see things differently. But can you 'get' that -- given the hypothesis in the preceding paragraph as an axiom -- that this would be somewhat exciting?

How the hell is essentially creeping toward centralization being equated with addressing a "most crippling flaw"? lol

The r/btc crowd would pick over the whiskers in Greg's beard before it considered thinking about the miner centralization. Because revolution!

[notme]

...snip...

How the hell is essentially creeping toward centralization being equated with addressing a "most crippling flaw"? lol

We could have 20 MB blocks and it would still be trivial to run a node at home on a single machine.  Mining is at peak centralization now for one reason: ASICs.  There are precious few manufacturers and they are smart enough to realize it is more profitable to just use them then to sell them.  If mining hardware were more widely available there would be much less centralization.  Block size is a red herring.

[CoinCube]

Will be interesting to see what happens to BCH once the difficulty adjusts way up and (I suspect) it's larger enemies both stop mining it and move to dump the price.

I think we are soon going to see the resolve of the BCH pumpers truly tested.

It only takes six blocks mined every 12 hours to prevent BCH's automatic short term difficulty adjustment.
https://www.coindesk.com/even-miners-hate-bitcoin-cash-might-want-mine/

Disclaimer: I sold all my BCH over the weekend and if I had any more I would probably sell right now.

[bones261]

Will be interesting to see what happens to BCH once the difficulty adjusts way up and (I suspect) it's larger enemies both stop mining it and move to dump the price.

I think we are soon going to see the resolve of the BCH pumpers truly tested.

It only takes six blocks mined every 12 hours to prevent BCH's automatic short term difficulty adjustment.
https://www.coindesk.com/even-miners-hate-bitcoin-cash-might-want-mine/

Disclaimer: I sold all my BCH over the weekend and if I had any more I would probably sell right now.

The difficulty has already went up for BCH, hours ago. Surprisingly, the average block time has only been about 15 minutes since then. They may be able to go this entire 2016 blocks without the emergency difficulty adjustment kicking in.

[NewWorldCoiner]

1. He is a muddle headed millionaire. He's also an egotistical megalomaniac, "I was the first investor", I'm the biggest shareholder", "I know about economic code", "homogeneous is another word for privacy", etc, etc.

2. What did this "significant fraction" do? Ah yes, congested the network with spam to drive transaction fees up, which the muddle headed clown then proceeds to blame the core team for, banging on about a horrible user experience.

3. All is going according to plan? What, coordinated pumps of BCC at the same time as dumping BTC to drive the price of the shitcoin up so they get more BTC for it? Great plan, excellent.

Whoosh. There it goes. Over your head.

Anyways....

Of course, I realized the implication was about Roger Ver. Here's the thing though. Roger had zero to do with the creation of Bitcoin ABC, which ended up the catalyst that kicked this big block initiative over the hump. Sure, he likes it, but he was not -- and is not -- a driving force to its creation. This is a team effort. By a rather large team.  Hence my comment about this here echo chamber.

Yes, it went right over my head that the people who are offering forcing a solution to a problem are in fact the people who created the problem in the first place.

I have also failed to notice that you ignore this point, and the issue of blatant market manipulation because neither of these fit with your agenda.

And no, I am not BlindMayorBitcoin. Alt accounts and shills are a tactic more often employed by the BCC fanbase, so I can see how your mind may have become naturally suspicious.

Anyway...

[CoinCube]

The difficulty has already went up for BCH, hours ago. Surprisingly, the average block time has only been about 15 minutes since then. They may be able to go this entire 2016 blocks without the emergency difficulty adjustment kicking in.

Interesting I thought it was later tonight. Maybe things won't play out the way I described above but we will see. I have my popcorn ready just in case.

[bones261]

The difficulty has already went up for BCH, hours ago. Surprisingly, the average block time has only been about 15 minutes since then. They may be able to go this entire 2016 blocks without the emergency difficulty adjustment kicking in.

Interesting I thought it was later tonight. Maybe things won't play out the way I described above but we will see. I have my popcorn ready just in case.

Maybe a lot of the miners that they have retained just haven't had the chance to change where their miners are pointed to. We'll get a better idea how it goes in about 24 hours, to see how many devotees they managed to retain. Perhaps some miners are speculating the the BCH will pump up the market again to attract the lost miners back.

[Paashaas]

1. He is a muddle headed millionaire. He's also an egotistical megalomaniac, "I was the first investor", I'm the biggest shareholder", "I know about economic code", "homogeneous is another word for privacy", etc, etc.

2. What did this "significant fraction" do? Ah yes, congested the network with spam to drive transaction fees up, which the muddle headed clown then proceeds to blame the core team for, banging on about a horrible user experience.

3. All is going according to plan? What, coordinated pumps of BCC at the same time as dumping BTC to drive the price of the shitcoin up so they get more BTC for it? Great plan, excellent.

Whoosh. There it goes. Over your head.

Anyways....

Of course, I realized the implication was about Roger Ver. Here's the thing though. Roger had zero to do with the creation of Bitcoin ABC, which ended up the catalyst that kicked this big block initiative over the hump. Sure, he likes it, but he was not -- and is not -- a driving force to its creation. This is a team effort. By a rather large team.  Hence my comment about this here echo chamber.

Yes, it went right over my head that the people who are offering forcing a solution to a problem are in fact the people who created the problem in the first place.

I have also failed to notice that you ignore this point, and the issue of blatant market manipulation because neither of these fit with your agenda.

And no, I am not BlindMayorBitcoin. Alt accounts and shills are a tactic more often employed by the BCC fanbase, so I can see how your mind may have become naturally suspicious.

Anyway...

Jbreher is one of those Jonald Fyookballs. They are getting paid, trolling ore just plain stupid to see what the consequences are when Jihan takes the lead.

[xhomerx10]

The difficulty has already went up for BCH, hours ago. Surprisingly, the average block time has only been about 15 minutes since then. They may be able to go this entire 2016 blocks without the emergency difficulty adjustment kicking in.

Interesting I thought it was later tonight. Maybe things won't play out the way I described above but we will see. I have my popcorn ready just in case.

Maybe a lot of the miners that they have retained just haven't had the chance to change where their miners are pointed to. We'll get a better idea how it goes in about 24 hours, to see how many devotees they managed to retain. Perhaps some miners are speculating the the BCH will pump up the market again to attract the lost miners back.

 ...so the value of BCH will be pumped to ~ US$1250?

[Eric Cartman]

Has BCC spread outside China

[bones261]

The difficulty has already went up for BCH, hours ago. Surprisingly, the average block time has only been about 15 minutes since then. They may be able to go this entire 2016 blocks without the emergency difficulty adjustment kicking in.

Interesting I thought it was later tonight. Maybe things won't play out the way I described above but we will see. I have my popcorn ready just in case.

Maybe a lot of the miners that they have retained just haven't had the chance to change where their miners are pointed to. We'll get a better idea how it goes in about 24 hours, to see how many devotees they managed to retain. Perhaps some miners are speculating the the BCH will pump up the market again to attract the lost miners back.

 ...so the value of BCH will be pumped to ~ US$1250?

Not taking into consideration the profit made from transaction fees, BCH must command a price of 272,888,550,038.82/923,233,068,449=0.29557926309 BTC for their profitability to be on parity with BTC.

[infofront]

Has BCC spread outside China

Like AIDS.

[BlindMayorBitcorn]

And no, I am not BlindMayorBitcoin

[jbreher]

The r/btc crowd would pick over the whiskers in Greg's beard before it considered thinking about the miner centralization. Because revolution!

I find it somewhat curious that you are deriding others' thoughts about centralization, while invoking "the whiskers in Greg's beard".

sheesh!

[jbreher]

We could have 20 MB blocks and it would still be trivial to run a node at home on a single machine.  Mining is at peak centralization now for one reason: ASICs.  There are precious few manufacturers and they are smart enough to realize it is more profitable to just use them then to sell them.  If mining hardware were more widely available there would be much less centralization.  Block size is a red herring.

Of course, I'm merely guessing, but I guess you've not seen the recent work calculating the GINI coefficients regarding mining vis a vis other aspects of the ecosystem?

[xhomerx10]

The difficulty has already went up for BCH, hours ago. Surprisingly, the average block time has only been about 15 minutes since then. They may be able to go this entire 2016 blocks without the emergency difficulty adjustment kicking in.

Interesting I thought it was later tonight. Maybe things won't play out the way I described above but we will see. I have my popcorn ready just in case.

Maybe a lot of the miners that they have retained just haven't had the chance to change where their miners are pointed to. We'll get a better idea how it goes in about 24 hours, to see how many devotees they managed to retain. Perhaps some miners are speculating the the BCH will pump up the market again to attract the lost miners back.

 ...so the value of BCH will be pumped to ~ US$1250?

Not taking into consideration the profit made from transaction fees, BCH must command a price of 272,888,550,038.82/923,233,068,449=0.29557926309 BTC for their profitability to be on parity with BTC.

 So help me out here please; I'm a little tired so I might be way off.

 The average of the last 10 or so blocks is about 14k USD per Bitcoin block in fees and the average for the last same number of blocks for Bitcoin Cash is SFA in fees (less than $1).  Does this mean that in addition to the 0.29557926309 BTC we need to add $14,000/12.5 BCH to the value of each coin to make it equally profitable to mine BCH?  In this case, I think we're looking at a BCH value of around US$2,330 per BCH just to make mining one or the other equivalent.

 With the 4X higher difficulty, the last 10 average block time is now 20.5 minutes.  Why do so many continue to mine the less profitable B_itCH?

edit: SFA is closer to $25 than my initial less than $1 estimate.  I believe it is still SFA when compared to $14k