All posts made by rtrtcrypto in Bitcointalk.org's Wall Observer thread
1.
Post 12911079 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.32h):
My analysis is much simpler:
1)
If MMM is a huge part of this recent rally = DOWN
If MMM is not a huge part of this rally = UP
2)
If block sized limit solved in DEC = WAY UP
If not = DOWN
1+2 go positive = short term MOON SHOT
if both negative = DOWN
Tracking the price of this sized market from charts and trying to read/fortune tell upcoming moves = waste of time.
2.
Post 12931135 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.33h):
HUGE~!!!!!
BITCOIN WILL BE AVAILABLE ON ETHEREUM BLOCKCHAIN
DEVCON NEWS:
http://btcrelay.orgBTC Relay allows Ethereum developers to interact with the Bitcoin blockchain and verify Bitcoin transactions. Relayers who submit blocks to support the Relay can earn Ether.BTC Relay is an Ethereum contract that stores Bitcoin blockheaders. BTC Relay uses these blockheaders to build a mini-version of the Bitcoin blockchain: a method used by Bitcoin SPV light wallets.
BTC Relay is open-source, trustless, autonomous and decentralized: it is on the blockchain for all to use and not controlled by anyone.
3.
Post 12951631 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.33h):
Interesting idea. Thanks for posting this.
What is the true value of 1 bitcoin? Nobody knows.
1 full bitcoin (1.0 BTC) is as scarce as
12kg of above ground gold. The price will readjust itself in the long run to reflect this. I'm not saying it will go to the value of 12kg gold, but price has to adjust to accommodate the scarcity factor.
4.
Post 13290821 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.38h):
Why the difficulty leap? Can't find info anywhere. Can someone fill me in and elaborate. Thanks.
everybody ready for bitcoin's largest ever increase in difficulty?
One block left.
5.
Post 13290868 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.38h):
It appeared that people were referencing a one-off, gigantic event that would make the hash rate jump up - I assumed this was something in the news that I missed about new mining equipment being deployed or something of the sort.
Since someone mentioned this down to the exact block, I assumed it was something more than just a re-target.
Why the difficulty leap? Can't find info anywhere. Can someone fill me in and elaborate. Thanks.
everybody ready for bitcoin's largest ever increase in difficulty?
One block left.
don't mean to be a dick, but are you new?
more people are mining, so hashrate has gone up, so network adjusts by making it more difficult to find blocks, therefore keeping supply of bitcoin predictable.
6.
Post 13290937 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.38h):
It's fine. Made me realize I need to follow the hash rate more carefully anyway. Thanks.
It appeared that people were referencing a one-off, gigantic event that would make the hash rate jump up - I assumed this was something in the news that I missed about new mining equipment being deployed or something of the sort.
Since someone mentioned this down to the exact block, I assumed it was something more than just a re-target.
Why the difficulty leap? Can't find info anywhere. Can someone fill me in and elaborate. Thanks.
everybody ready for bitcoin's largest ever increase in difficulty?
One block left.
don't mean to be a dick, but are you new?
more people are mining, so hashrate has gone up, so network adjusts by making it more difficult to find blocks, therefore keeping supply of bitcoin predictable.
my apologies, it was mainly me getting overexcited. there has just been a lot of interest in mining recently given the price rise.
7.
Post 14334268 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.48h):
BTC used to be so exciting... now we go up 8 dollars and people act like they made a fortune.
Boring.
8.
Post 14334365 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.48h):
Yeah, stable BTC at 400 bucks... great for the 100,000 people who will use it. If we are to scale upwards the price will need to go through massive uptrends still. Is this a global system or a tiny 7-11 money transfer service?
BTC used to be so exciting... now we go up 8 dollars and people act like they made a fortune.
Boring.
Its actually pretty exciting because it indicates a general trend towards greater stability as adoption/liquidity and market depth grows. This is one of the final valid criticisms of bitcoin that it isn't a good unit of account because its volatility.
9.
Post 14335528 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.48h):
WTF is a Brazilian Lira? ROTFL
Bitcoin is more stable than the Brazilian Lira and the price of gold.
It is shaping up to be a valid currency.
10.
Post 15175057 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.52h):
I'm not cashing out anytime due to being aggressively long , but those looking to take profits should heed that it is our community driving the price and not outsiders from the evidence presented. They should wait till the press enters the hype cycle to pump up bitcoin and bring in new users during the end of this bubble or a second bubble for maximum returns.
All bubbles have been decreasing in volatility as a general trend but this may break that trend .*
*-- Personally, I predict only a 7.5-8x bubble this time around holding to the rule of less volatility with time, but expect a second bubble of 7-7.5x in 3-8 months after the first when a large correction is made.(just like in 2013).
We need to prepare for 1-2 large exchanges failing as well. Start educating users early.
So 7x now then 7x off of that, LOL. Even starting at a price of $200 that would be (200*7)7 = $9,800
7x from where we are now followed by 7x = $31k
I sure dream that you are right.
11.
Post 15264552 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.53h):
That might be true (about following programmed logic), but shorting the market before that move is likely not to stand up as legal in court. If the hacker came forth, he would find legal trouble.
There used to be so many bears in here. What happened to them? Identity crisis?
What happened to Assmaster and his bullshit on a coin beginning with E? I didn't see him boasting about a 30% drop
Pretty sure he's #Assrekt so hard right now ... he should have spent more time checking his smart contracts code instead of gloating on bitcoin forums about his altcoin scam. The harder they gloat the worse it was going to be for them. Vitalik and his crew better have good liability insurance cause the smart lawyers are lining up for their piece of a crack at #assrekt and buddies.
http://pastebin.com/CcGUBgDG I am disappointed by those who are characterizing the use of this intentional feature as "theft". I am making use of this explicitly coded feature as per the smart contract terms and my law firm has advised me that my action is fully compliant with United States criminal and tort law. For reference please review the terms of the DAO:
"The terms of The DAO Creation are set forth in the smart contract code existing on the Ethereum blockchain at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413. Nothing in this explanation of terms or in any other document or communication may modify or add any additional obligations or guarantees beyond those set forth in The DAO’s code. Any and all explanatory terms or descriptions are merely offered for educational purposes and do not supercede or modify the express terms of The DAO’s code set forth on the blockchain; to the extent you believe there to be any conflict or discrepancy between the descriptions offered here and the functionality of The DAO’s code at 0xbb9bc244d798123fde783fcc1c72d3bb8c189413, The DAO’s code controls and sets forth all terms of The DAO Creation."
12.
Post 15447224 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.54h):
Why do you (and others) feel so strongly about the breaking mid-800s = 3k+?
In your mind, once we see 875 we will quickly see 2.5k+? Can you unpack that more?
The article is nearly pure nonsense because the actual facts, including the price breaking strongly (and seemingly irreverseably) above $500 speak loudly and convincingly that people are buying bitcoins and the ones that matter (those buying) do not perceive bitcoin to be broken... otherwise they would not be paying more than $500 and then more than $600 and then more than $700 per coin..
So, yeah, hard to convince people when we cannot get BTC prices back into the $400s.. and even the $400s was not a bad place to be, after BTC prices had been in the $200s for nearly a year.
But, yeah, Tzupy start preparing your bear ass for continued upwards price movements, and you must realize that there is some chance that we are going to have continued resistance in the upper $700s and also in the $800s, but seems likely that if we clearly get past the mid $800s, we are going to need to brace ourselves for the $3k plus price territories.
13.
Post 15447539 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.54h):
Ok,
Then let me get an opinion. If you see the price at $950 you'd be inclined to hold all the way up to 2k+? A sell target of $1200 makes little sense to you given your impression (probabilities that the market will overshoot past last ATH)?
***EDIT: Sorry, didn't notice the reply above, which more or less covers this as well.
Why do you (and others) feel so strongly about the breaking mid-800s = 3k+?
In your mind, once we see 875 we will quickly see 2.5k+? Can you unpack that more?
The article is nearly pure nonsense because the actual facts, including the price breaking strongly (and seemingly irreverseably) above $500 speak loudly and convincingly that people are buying bitcoins and the ones that matter (those buying) do not perceive bitcoin to be broken... otherwise they would not be paying more than $500 and then more than $600 and then more than $700 per coin..
So, yeah, hard to convince people when we cannot get BTC prices back into the $400s.. and even the $400s was not a bad place to be, after BTC prices had been in the $200s for nearly a year.
But, yeah, Tzupy start preparing your bear ass for continued upwards price movements, and you must realize that there is some chance that we are going to have continued resistance in the upper $700s and also in the $800s, but seems likely that if we clearly get past the mid $800s, we are going to need to brace ourselves for the $3k plus price territories.
I think that I kind of outlined my thinking in my above post, but I think that the main idea is regarding momentum and market psychology. Surely, none of these kinds of outcomes are inevitable because we are still dealing with a lot of unknowns, including human behavior and even attempts at manipulative behavior. So, even though it may sound as if some folks, including myself, are talking in terms of absolutes, many of us are likely speaking in terms of probabilities, but just using linguistic short-cuts to appear as if we are talking in absolutes.
Actually there are a few folks who do talk in terms of absolutes and math, like as if certain price points are inevitable, and I am not one of those folks, even though sometimes my language may be a little sloppy in appearing to put me in that camp.
14.
Post 16764179 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.58h):
I'd be curious to have people's opinions on how violent a SPIKE UP could be...
What would need to happen to move the price 10x from here? 100x?
Seems like bubbles in the near future will need to be propped up by ALOT more people than in the past bubbles.
Have you guys considered that maybe there won't be this huge pump, but that we just simply keep grinding upward steadily all next year and into the future? And let me outline why this would be a GREAT thing:
Sure, a long slow steady climb would be nice. And that is best for Bitcoin being accepted as a currency alternative. But...
it's just so damned exciting when the price is flying up by 10% a day for weeks on end...
The cup and handle charts do show a huge skyrocket though. I feel like we are near the price we should be at (I predicted the price would be $766 on 1/1/2017 back on 1/1/2016 when the price was around $300).
15.
Post 17256689 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_14.59h):
WHAT!>!>!>>!>!!??!?!?!
That would be insane.
Bitfury: Last 24hrs couple of $10bln+ AUM Funds calling to buy 30k-50k bitcoins.. We were not selling then / not selling now
Boom.gif
16.
Post 17276496 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_15.00h):
That will take alot of BTC!!!
This will be my first buy in 2017:
17.
Post 17364439 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_15.00h):
Come on $16 billion!!!
I'm dying to see $20 billion before Jan 15th.
18.
Post 17396027 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_15.00h):
Just charge in dollars and accept payment in BTC with a window of a few hrs after the job is complete.
That way you can always charge the same for the job and no one will feel like they over or underpaid.
I have a problem with this price rise:
As many people know, I fix people's bitcoin miners for bitcoin payments. Thus I have to account for my time, skills, experience, and material costs (damn FPGAs are expensive when they blow up). I price my work in bitcoin because I want this currency to have a reason to exist other than as a speculation thingie.
Problem is the fluctuations: If I charge .3btc for a service and bitcoin drops from 600 to 300 I don't want to raise my bitcoin prices so I kept them constant. Likewise if it goes from 600-1200 I don't want to change my prices for the same basic reason (I'm doing work for a certain amount of bitcoin). But if it keeps going haywire, what do I do? What's fair? And at what point am I simply doing work for dollars instead of Bitcoin?
It's complex.
19.
Post 17397794 (copy this link) (by rtrtcrypto) (scraped on 2020-04-04_Sat_15.01h):
YES! The time has finally come!
this time we switch to mBTC ^^
