All posts made by williamuk in Bitcointalk.org's Wall Observer thread
1.
Post 20435737 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Great piece thanks for sharing
2.
Post 20447651 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Can someone explain, what does the shorts will get REKT means?
It's how preteen gamers talk
This kind of language gives them a sense of belonging and boosts their ego.
Interpret their statements accordingly.
3.
Post 20455268 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Any on the list not require sending ID's/KYC etc ?
I just registered with HitBTC, just one email confirmation, very quick
4.
Post 20466684 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Hahaha this is so bad
I'm no fan of GS but they would never produce something that childish, this was written by a simpleton
Entertaining pro Blockstream-Core propaganda. Now can I have my two seconds of life back please
5.
Post 20472239 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Interesting position statement on BCC from Paymium. I read it as "if BCCs are worth anything after a few weeks we'll put some work into enabling you to send them to a private wallet"
A Bitcoin fork, BCC (or Bitcoin Cash), is likely to launch on August 1st 2017.
If you do not intend to trade with this new BCC altcoin immediately after the launch, you have nothing to do: we have taken and will take all necessary measures to ensure the security of your funds in Bitcoins.
For this reason, we will pause the processing of Bitcoin deposits and withdrawals from July 31st at 23:00 (GMT +1).
Your funds in BTC will be safe but locked on our platform while we monitor the fork process: we will reactivate deposits and withdrawals as soon as we are certain that these transactions will not be disrupted by the fork.
If you intend to trade with Bitcoin Cash immediately after the August 1st launch, you should withdraw your bitcoins before July 31st, 2017 at 23:00 GMT +1.
We do not intend to list this new BCC altcoin on our platform neither in our wallet nor in our marketplace.
However, should the BCC coins gain value in the weeks following the fork, we would arrange for you to withdraw your BCC coins to a BCC wallet.
6.
Post 20491938 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
In a 5 years time a 1mb chain will be completely forgotten, after Bitpay accepts Bitcoin Cash its game over.
Unlikely to happen since Bitpay is part of the conglomerate (
http://dcg.co/portfolio/) that controls Blockstream / Core. Whatever Bitpay do is likely to be in support of DCG and DCG / Blockstream / Core is behind the 1Mb constraint
It's one big centralisation effort presented as decentralisation. You've got to admire how well they've managed to mislead so many for so long.
7.
Post 20496589 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
In a 5 years time a 1mb chain will be completely forgotten, after Bitpay accepts Bitcoin Cash its game over.
Unlikely to happen since Bitpay is part of the conglomerate (
http://dcg.co/portfolio/) that controls Blockstream / Core. Whatever Bitpay do is likely to be in support of DCG and DCG / Blockstream / Core is behind the 1Mb constraint
It's one big centralisation effort presented as decentralisation. You've got to admire how well they've managed to mislead so many for so long.
Lots of holes on this article, it boils to down to keeping Bitcoin in a limited circle of people under the guise of "decentralization" ignoring advances in hardware and bandwidth. But 640kb ought to be sufficient for everybody right?
list of bs points:
Bitcoin As A Settlement System Scales Indefinitely
Bitcoin As Coffee Money Doesn’t Provide A Unique Service
Increasing Low Value Bitcoin Usage Doesn’t Necessarily Increase Its Value As Per Metcalfe’s Law
Bitcoin As A Coffee Money Doesn’t Scale
In a 5 years time a 1mb chain will be completely forgotten, after Bitpay accepts Bitcoin Cash its game over.
But neither of you understands how central banking or our global economy works.
What??
8.
Post 20498561 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
What??
I said you have an opinion and you are assertive about it, but you don't understand how central banking works or economics in general.
I wasn't stating an opinion, I was stating facts about how bitcoin is being centralised by one corporation around Blockstream, it had nothing to do with your conversation
And anyway how would you know what I know, particularly about cbs and economics. You don't know me
9.
Post 20498675 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Are you a 14 year old boy?
What do you think the chances are you can hold a candle to me in regard to the macro economic implications of bitcoin?
I wasn't stating an opinion, I was stating facts about how bitcoin is being centralised by one corporation around Blockstream, it had nothing to do with your conversation
And anyway how would you know what I know, particularly about cbs and economics. You don't know me
You are stating your opinion as fact which is a conclusion you have mistakenly come to because you don't actually know how central banks work and what their purpose is. You know what economics and game theory are and how they are relevant to understanding bitcoin (which you do not).
You are literally asserting an opinion about something you don't understand.
You must be confusing me with some else I haven't said a word about central banks
10.
Post 20511192 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Everywhere I read its recommended to withdraw coins from exchanges until the dust settles sometime after Aug.1st. That would create very thin pools everywhere without the option to transfer back and prices could move any direction much easier. The skeptic in me wonders if it might be better to put my coins on an exchange and perhaps just ignore the fork drama. BTC seems to have a tendency to go the opposite direction of the masses.
My thought exactly. Thin pools, low liquidity, high volatility. Should be interesting
11.
Post 20511801 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
1) Alt people, will sell BTC and go back to Alts (Alts will rise)
^^ this
12.
Post 20515882 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Every time that I see the price pushed back up into the $2700-2800 range, alts are down.
That would seem to indicate that alts are getting squeezed each time to prop up bitcoin.
I'd expect that to keep happening until tomorrow but on a slowly diminishing scale. At one point everyone will have to leave alts for bitcoin if they want their free bcc money. Bitcoin velocity will be minimal
Those who were going to move to desktop or paper wallets because of FUD have already done it I should think. They won't be able to come back for a while and shouldn't have any short term impact on the market.
13.
Post 20517125 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
$1m buy wall at 0.1BTC on viabtc BTC/BCC.
Someone wants to stop it going to zero, at least until the fork.
But that is on the future contract not BCC itself so perhaps it is empty posturing?
14.
Post 20518853 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Cool. Thanks
Wouldn't it be 12:20 PM UTC?
That's the time of the BCC hardfork if I'm not mistaken
15.
Post 20535158 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
If BCH doesn't crash and burn on a technical level, which it very well might, then I think that there will be three stages:
1. For the next 2-4 days, people will have BCH and be trading it inside of exchanges, but will not be able to readily deposit or withdraw it because BCH blocks will be mined very slowly. This will cause a very inflated price on at least some exchanges.
2. Over the course of a few weeks after that, it will be driven absolutely into the ground as people dump their free BCH.
3. Then it will recover somewhat and hover between 0.001 to 0.01 BTC as a maybe slightly-above-average altcoin. Depending on how committed its supporters are, it could continue indefinitely similar to Litecoin or peter out after some time.
Lots of unbiased investment advices which do not need any disclaimers because of this...
I'm actually surprised by how high BCH is, why would accumulators buy futures at this level?
16.
Post 20536354 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Kraken is down. Coinfloor has no problems at all
thank you for the report. Would be nice if everyone could describe his experience with the exchanges. A review during time of stress.
Bittrex / Poloniex / HitBTC worked fine for me
17.
Post 20537707 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Bittrex can't handle the traffic.
Interesting times =D
Crispy here, all fine
18.
Post 20538003 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Hopefully in future miners and devs will think "hmmmm I would rather have a barbed fishing hook pulled up my urethra canal than go through that shyte again"
But ya never know
I hope you are right
19.
Post 20538388 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Lol Whats happening with the price
1) Step 1 = Hysteria
Total fucking (
short lived) Hysteria
With all the FUD I saw I suspect there's a reasonable quantity of bitcoins currently stuck on Core clients. They are going to slowly make their way back to exchanges.
All that supply should take a while to make it's way to the market so perhaps not so short lived.
We've experience bitcoin deflation for a few weeks, now we should see inflation
20.
Post 20542120 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Those are still the futures I think. It wasn't a real market to begin with.
21.
Post 20542631 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Message on HitBTC
BTC hard fork is over. Those of you who store BTC on your accounts, are going to receive the same amount of BCC within the next couple of hours.
22.
Post 20547825 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.15h):
Guys, i made 4 bitcoin, just by lending the hell out of it, at 5 percent. And i have no idea what bcc, bch is.
Could i have done better ? I mean, it´s still 2700. 4 multiplied by 2700. I´m off, wanking.
They say money is better than sex
23.
Post 20559472 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
There is no founded argument that increasing 7tps increasing the value. Economics doesn't support it.
This is the dumbest sentence I've ever seen on this forum. The burden of proof isn't even on others to prove increasing throughput increases value, the burden of proof is actually on you to prove that bitcoin has any value whatsoever as a settlement network and that 4 TPS would somehow allow it to fill this role.
I've already explained numerous times why bitcoin has zero value as a settlement layer:1) It has built-in rent seeking middlemen (transaction validators) and doesn't remove counter party risk since you're always relying on all kinds of external parties to facilitate transactions
2) Alternatives already exist before the creation of bitcoin that are far superior for settlement such as gold and silver that actually do remove counter party risk and don't have built-in rent seeking middlemen
3) Network effect assumes infinite scalability, which bitcoin doesn't have. Trying to force everyone onto a highly scaling constrained system with giant fees is a pro-usury stance
4) Due to the above , bitcoin has a reverse Schelling point where there's huge incentive to fork or use a different system rather than pay extortion usury fees. Low scaling = inveitable rough consensus attack/split.
5) Bitcoin is a
currency and not
money. The value of a currency is entirely based on transaction flow, not stock (how much commerce it can facilitate by scaling)
6) The greater fool theory only works if other people actually need what you have and nobody needs an imaginary "virtual commodity" when they can just create their own. They do however need things like silver. Cornering the market on bitcoin doesn't actually give you any type of power over others, while cornering real commodities like oil or silver does.
I'm not a fan of precious metals but +1 for the rest. If more ppl understood that they would understand that Blockstream is in effect trying to steal what little value bitcoin currently have.
Core / Blockstream supporters would stop cheering if they knew.
24.
Post 20559776 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
Guys, i made 4 bitcoin, just by lending the hell out of it, at 5 percent. And i have no idea what bcc, bch is.
Could i have done better ? I mean, it´s still 2700. 4 multiplied by 2700. I´m off, wanking.
Well, let's see...
4BTC is 5% of 80BTC.
You would have received 80 BCH.
Right now, kraken lists the price of BCH as 0.13563 BTC.
80 * 0.13563 = 10.85 BTC.
Did you do good? You tell me. Was the lesser risk worth a 2.5x difference? Personally, I would have gone for the BCH, but then again, I believe that BCH rather than segwit is the proper route forward for Bitcoin.
(actually, I
went for the BCH)
When y'all gonna start dumping your BCH like you were whining about yesterday? I want more cheap Bitcoin Cash!
If you liquidated all your btc for bch wtf are you doing in a bitcoin forum? You have no position or faith or care for the project. Trolling I guess huh?
Some will argue that bitcoin cash is bitcoin whereas what is now under the control of Blockstream and Digital Currency group doesn't have much left to do with Satoshi's vision. I'm one of them.
Luckily the moderators on this forum are more tolerant of views that differ from those of the loud minority than you are.
25.
Post 20559980 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
How many of you planned to host a segwit node to get fees?
Bingo. Starving the goose in the process and not understanding that only major players would be able to invest in the infrastructure required to run successful / profitable nodes.
26.
Post 20561329 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
HitBTC accept BCC deposits now. Currently at 0.19 btc
27.
Post 20562402 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
BCC is going to same value as BTC? BCC = BTC value soon ?
It looks like it could
I think speculative juices are fueling this one now, money seems to be flowing from alts to bcc.
It could keep rising until those bccs stuck in desktop wallets manage to reach exchanges.
28.
Post 20564347 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
Bittrex exchange is only for us customers?
No I'm based in the UK and I use it
29.
Post 20564485 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
What is a good and safe BCC wallet?
For things like this the best and safest would be using a hardware wallet. I was able to do the process easily and with no risk with my Ledger Nano S.
I will always keep telling people hardware wallets are key to the future of Bitcoin and software wallets are a thing of the past and maybe only useful for a few bucks in mobile phone wallet.
Besides that, I would suggest you first move all your Bitcoins to a new address with a different private key (not in the same HD wallet) and then you can proceed "extracting" the BCH with less worries.
Most of us don't have those fancy magical things. It needs a software wallet with the quickness.
That was all FUD to move people to desktop wallets. It was only useful for Core to pretend it's actions had community support.
Move to an exchange, it's professional, faster, more reliable and usable unlike most desktop versions I've seen. Do your own due diligence before you chose one or more exchanges ofc, this is still a cowboy industry.
30.
Post 20564751 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
Bittrex exchange is only for us customers?
No I'm based in the UK and I use it
Alright, are they taking BCC deposits yet?
No it still tells me the bcc wallet is "under maintenance"
31.
Post 20567891 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
If 100% of hashpower want bigger blocks, do you think the devs will fold for economic reasons like how the miners folded for segwit?
They'd have to eliminate all blockstream influence in any shape or form, distance themselves from the most virulent members of their group and then admit bitcoin was never theirs to begin with.
Tall order
32.
Post 20568309 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
If 100% of hashpower want bigger blocks, do you think the devs will fold for economic reasons like how the miners folded for segwit?
They'd have to eliminate all blockstream influence in any shape or form, distance themselves from the most virulent members of their group and then admit bitcoin was never theirs to begin with.
Tall order
I guess I'll just grab some popcorn, sit back and enjoy the show.
At $40bn it's become serious, some people's savings are at stake :|
33.
Post 20569204 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
I had expected a large dump coming from Big Blockers that simply want to harm the original Bitcoin. Now it seems the largest dump was before the split - in anticipation of a move that didn't happen.
Maybe the BCH adherents are still not sure if their coin will survive and therefore dump'd only a little fraction of their BTC, to scare us.
You are speculating that people with money behave like kids. They don't.
34.
Post 20590745 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
Has anyone put any low ball bids on the books?
If so how low did you go ?
is $1-10 range too cheeky 😂😂😜🤔
(And what's anyone's very highest ask on the books for the next 48 hours that they semi expect to get filled?)
I did (~$1) but failed to get them, the dust needs to settle. This is not as straightforward as I expected, and neither is btc.
35.
Post 20591459 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
Enjoy the volatility
Not so much because I find it quite unpredictable this time
36.
Post 20598249 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
Poll: missing a "don't have a clue" option
37.
Post 20609667 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
... sleazy shilling dressed up as logic ...
This is great news for bitcoin.
You know they're getting desperate when they send for Peter R.
He was right, though. The fact that BCH has fast difficulty adjustment and bitcoin doesn't while the Chinese control most of the hash power is gonna be mega-problems for BTC. I imagine all BCH has to do is NOT DIE and it will cause Luke Jr to be forced to fork BTC to change difficulty adjustment. Since BTC is now forced to fork, people will probably want a bunch of other changes like PoW algo change as well. It's a real can of worms here.
Please not another fork
38.
Post 20610664 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
Lastest bcc block
478617 22 minutes ago 0x20000000 Unknown M6Y q$/
Fuck BitcoinCash - bcc.suprnova.cc/ 1,999.20
The level of maturity is impressive. I'm sure this kind of behaviour will entice high net worth individuals to put a sizeable portion of their savings into BTC
39.
Post 20612805 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
A funny thing happened on the way to the bullion market:
Provident Metals had stopped taking Bitcoin as payment! That was a shock, so I had to open an account with jmbullion.com who still did. I have not checked back with Provident to see if they have changed their minds, but for whatever reason they stopped taking BTC
Interestingly, you used to receive the max discount for using bitcoin on JM Bullion (same as paying with check or bank transfer), but now it's more expensive to pay with BTC there lol.
So bullion dealers no longer like people paying with BTC for whatever reason even though they stated people who purchased using bitcoin spent more money than normal customers.
That is what everyone should be focusing on
40.
Post 20615121 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.16h):
"... to protect people ..."
The usual excuse
41.
Post 21020320 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.18h):
I am not a core supporter or WuVer coin fanboy. I am neutral.
Price = intrisic value + discounted future value (aka belief)
So price mostly (95%+) = belief for _all_ coins on this day
Neutral is smartest for those who can. Good on you
42.
Post 21037456 (copy this link) (by williamuk) (scraped on 2020-04-04_Sat_15.18h):
In direct contradiction to Blockstream's aims to move transactions and usage offchain:
the value of bitcoin is linked to the number of users and number of transactions
As the bitcoin network grows the value of bitcoin grows.