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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Mike Hearn's exit mic drop
I find it tough to dispute his arguments. It's getting close to fork or die time...
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.m7ipd85nk
I find it tough to dispute his arguments. It's getting close to fork or die time...
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.m7ipd85nk
It's easy as shit to dispute his arguments. He's basically claiming that if the blocks ever fill up, then Bitcoin has failed. Since Bitcoin can't scale to world reserve currency without really fucking big blocks (133MB with lightning network and way higher without it), it's pretty much guaranteed to have full blocks and a fee market no matter what you do. While I do think Bitcoin needs at least 8MB blocks to remove most of the glass ceiling on price, his logic is not sound at all about it succeeding or failing based on blocks being full or not.
That post might impress Bitcoin noobs into thinking there's some type of crisis, but blocks becoming full was always destined to happen from day 1. The real issue is that Lightning Network does not exist TODAY, and so blocks should be raised so that Bitcoin has more room to grow until that happens, assuming Lightning Network is even the solution to all our problems in the first place. The way I see it, a collateral bid, deterministic block production system with something like 1001 fixed block producers is the only low hanging fruit I see to solve decentralization and on-chain scaling at the moment:
https://bitcointalk.org/index.php?topic=1317450.0
I am intersted in the bit where he talks about reversing payments. is what he seems to be saying actually true? if the seller of the goods waits for say 4 confirms does that not still protect him. if it is going to be common place for reversals (double spend) then people will always opt for credit cards and the protection they provide and not move to using bitcoin as much?
RBF (Replace by Fee) only applies to 0 confirmation transactions... as far as I understand it
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Since the big dump yesterday all the alts have been getting pumped silly. Most are up by +25% or more.
Another exaggerator.
Maybe exaggeration is contagious?
Out of the top 20 alts, only one is up more than 25%, and out of the top 100 alts, fewer than 15 are up more than 25%.
Are any of the rest of the alts meaningful, or should we look through the whole list of 681 alt/shit coins on coinmarket cap? Do you have another source?
Even though there may be something going on regarding the pumping of various alts, what is going on hardly seems to qualify as "most are up... blah, blah, blah"
Sort results by volume.
Also, you are looking at the gains for only the past 24hrs.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Speaking of borrowing money, almost $1 mil opened on finex to fuel that bullgasm.
Funny how okcoin had to kill the volumizer when things started going.
Talking BFX, the longs came after the rise.Funny how okcoin had to kill the volumizer when things started going.
And a bunch of short opened too after the rise ~800BTC. Shorts now stand at 16.5K
Why people says hodling instead of holding?
See first post of this thread.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
If we don't break 400 soon, we will see an epic dump.
Save my words
Save my words
Aaaaaaaand it... broke $400
When referring to BTC price generically, we go by Bitstamp's price, here unless otherwise specified.
Accordingly, Bitstamp has not yet gone beyond $400 in the past week - I believe $399.91 is as close as it has been to $400.
"We" definitely do not go by Bitstamp's price here. For a short window between the time Gox collapsed and Stamps got hacked that may have been true but certainly not now.
I'm NOT saying that bitcoin's price is controlled by bitstamp but rather if you are generally referring to BTC's price, then you should get on the same page with everyone else with your price references...
Alternatively, you can specify the source of your price assertion every time that you make one for clarity sake regarding how you arrived at your price reference.
Accordingly, what I said earlier stands, and it is not something that I made up because it is true in bitcoin discussion places other than this forum as well.
I think that your assumption that most people here go by Stamps price is misguided. Finex has been the leading "western" exchange for quite some time and I see people here quoting that price most frequently. And if you don't believe me just ask Chart Buddy...
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
If we don't break 400 soon, we will see an epic dump.
Save my words
Save my words
Aaaaaaaand it... broke $400
When referring to BTC price generically, we go by Bitstamp's price, here unless otherwise specified.
Accordingly, Bitstamp has not yet gone beyond $400 in the past week - I believe $399.91 is as close as it has been to $400.
"We" definitely do not go by Bitstamp's price here. For a short window between the time Gox collapsed and Stamps got hacked that may have been true but certainly not now.
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
If we don't break 400 soon, we will see an epic dump.
Save my words
Save my words
Aaaaaaaand it... broke $400
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
1K in shorts just closed on Finex... still 14K+ to go
Where did you see it?https://www.bitfinex.com/pages/stats
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Guys, is it time to sell yet? Should I wait for the price to drop another $20?
I'm young and new and in need of guidance from seasoned gentleman-traders like you.
I'm young and new and in need of guidance from seasoned gentleman-traders like you.
A lot of people here will tell you to sell... and then buy your cheap coins... and them sell them back to you for a 20% markup in a few days...
So don't trust any advice you get here. Put in a bit of time, do some research, try to understand the long term outlook for the technology.