Kore Minions are in for a surprise: http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-goIt is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
https://blog.bitmex.com/trading-shitcoin2x/#at-fork-timeHe who sells first, sells best.2X price will be worse than Cash, no one even going to pick it up. Just because of BTC/BCH price, Bitmain still has to mine Bitcoin. If BCH > BTC, they would be mining BCH. Same thing goes for this scenario. Miners is not going to mine at loss. Prediction of markets is most complex task - I'd say nobody can do this. My analysis would be: Look where the buying power is after the fork and where the momentum + trend is negative / positive - measured from last local top / bottom. You need to look at political trades (short term) and mass traders (long term). If you look at the limited group still supporting SW1x (NO2x) - I'd say I cannot see much buy power LEFT - these are mostly all in per today. How many (agnostic) millions will be 'directed' by NYA entities to flow in fresh capital ? Looks like easy math and I'd bet that 1x coin will fall in txs/min and price in a sudden .... but sure, beware of any predictions! Good argument points although Bitmex, Bitfinex, Coincheck, Bithumb, Bittrex, Quoinexchange these are the biggest exchanges(volume-wise) and they are not the signees of the agreement. From the exchange company point switching to S2X is just doesn't make sense(unless mining power shifts and legacy chain gets distrupted) So, basically I would say the most important argument point here are the blocks. If the %85 of the mining power shifts to S2X, even Bitcoin gets support from all users and exchanges, we all will have hard time. We are talking about finding one block a day kind of a problem. Where avg. daily tx number is 300.000. Possible scenarios; 1. %85-%90 of the mining power will shift, legacy chain will get distruped, every exchange will be forced to use S2X. 2. %85-%90 of the mining power will shift to S2X but %90 of that portion will be replaced quickly. 3. Miners will mine at loss just to distrup the legacy chain, no matter the cost. 4. Miners will play let's-wait-and-see card. S2X will fail and mining power will stay at legacy chain. Considering Garzik, he already moved on to another coin to create an ICO, I would say it's a failure already. I would put my money to fourth option.
|
|
|
Kore Minions are in for a surprise: http://www.trustnodes.com/2017/10/24/bitcoin-fork-may-goIt is miners alone that create blocks and process transactions, with other nodes verifying the process. As such, with 15% of the hashrate, blocks on the minority chain will be very rare, averaging around 1 every two hours, but with variance it may be even a whole day without blocks.
It’s unclear how the market would react to that situation considering that at least for Coinbase this would be bitcoin itself so operating on very rare blocks.
https://blog.bitmex.com/trading-shitcoin2x/#at-fork-timeHe who sells first, sells best.2X price will be worse than Cash, no one even going to pick it up. Just because of BTC/BCH price, Bitmain still has to mine Bitcoin. If BCH > BTC, they would be mining BCH. Same thing goes for this scenario. Miners is not going to mine at loss.
|
|
|
"If the #Segwit2x change is accepted by most users, we may choose to rename these blockchains at a later date." *If* they don't trick the users, no one will use Garzik's buggy, shitty corporate 2X. Which, most of the time core devs saved his ass, in fact helped him to improve to code. Don't even trip Garzik. You forked core version. Lazy ass.
|
|
|
Way more money that is necessary to develop Tezos was collected, so I can't fathom how no money has been spent on development thus far. Sure, I can see some of the money being fought over and put on ice, but all of it?! How on earth could this happen? For anyone jumping on me for criticising the Breitmans, they waited to tell investors this news the same day the WSJ article came out. So in other words, they kept this from them as long as possible and would have kept all in the dark forever without a news article exposing this horrendous mismanagement of investors' funds. That is fucked up. This should have been made public and attempt to get rid of whoever was stopping development funds months ago.
Couldn't agree more. What is the meaning of raising $230M? More publicity? More money equals to more success? Why? There supposed to be a hardcap! $20M would be enough. Look this statement statement from Arthur; https://medium.com/@arthurb/the-path-forward-eb2e6f63be67***Best estimate*** Dev team fell short. You raise $232M(Currently +$500M plus without including Bitcoin Cash) yet you fail to hire some couple more devs, for real? * I invested to Tezos. To people who will call me a fudster, you can't always praise what you invested. There is no progress without arguing, criticizing the work.
|
|
|
I like the enthusiasm for taking down the enemy but this makes people think NO2X is actually a threat to Bitcoin but in reality it's just a weak attack against the network and look how BTC is responding.
Another signature spammer. Seriously?
|
|
|
Really like this project and i hope i could contribute to the community in a sort of way, surely spreading the word on the web and actively trading!
Come over and join us at Slack!
|
|
|
Bitcoin does not need a rushed, let alone contentious, and dangerous hard fork, which is coded by an amateur such as Garzik, anytime soon. Here's what Bitcoin does not need (for the third time, no less, so I might try some extra emphasis). Bitcoin doesn't want or need your pampered, mollycoddled, nanny-state, protectionist foolishness. Bitcoin survives in the wild and grows stronger and more robust through adaptation and freedom of choice, selecting the best code available from the open market at any given time. Bitcoin does not need you to defend it from would-be attackers. It can do that all by itself and, whether you personally approve of the code being used or not, Bitcoin will come out stronger at the end of it
You can have your plush toy badger with all the health and safety warnings and no sharp edges. I'll have the rabid honey badger that rips your damn face off if the inclination strikes. Cry harder about your boogeymen, Bitcoin doesn't care. Why should this "power" include telling other people what software they can or can't run? If users could do that (and I'm glad they can't) THEN the system has failed. Users will always have the freedom to decide which chain they wish to transact on. Why isn't that enough for you? Why do you want to dictate terms to people who don't owe you a damn thing?
The same reason for which the corporate baboons, i.e. attackers attempt to hijack the name Bitcoin for their own terms. Users with actual knowledge about the system, should educate and spread the use of Bitcoin clients not "cancer altcoin disguised as Bitcoin" clients. Waaaagh! Hijackers! Waaaagh! Hostile Takeovers! Waaaagh! Sacking Developers! Could any of you protectionist fascists sound any more juvenile? How many more times? There can be no takeover unless you give these corporations your private keys or your preferred dev team give them control of the repo. Assuming you and the devs aren't dumb enough to do that, you can't have any decisions made for you. You are in total control of your respective funds and/or repositories. But you don't have total control over what any of the other network participants do, so quit trying. Your use of the word "listening" here distinctly implies not just "hearing" what the community and developers are saying, but also "obeying". Hence slave. They listened. They just didn't agree.
The latter is a lie and you are being fed kool-aid. Pretty much anyone who understands Segwit, which does not include Ver, Jihan, Wright, Oliver, Thomas, etc., embraces Segwit. Jihan has been paying for anti-Segwit propaganda in China a few months ago. Wake up. Yes, they didn't listen and they're just including SegWit for shits and giggles. If they weren't listening, they wouldn't have included SegWit at all. What are you even on about? And even if you could prevent their involvement, you'd have to sacrifice one of Bitcoin's primary tenets of permisionlessness in order to do so. It's far simpler just to let them get on with whatever the hell they want to do. You can still run whatever code you want. Beyond that, you're as impotent as everyone else.
False. You can fork away the current miners. Again with the what? The miners are forking away. Doesn't mean they're gone for good. The only way you're getting rid of them permanently is with the nuclear option of an algo change. You're perfectly free to pursue that avenue if you want. Until 5 minutes pass and they find another boogeyman to plead for someone in authority to "save" us from.
It was fine until we got Anderesen'd, Hearnia'd. Now only two people are left in the way of a peaceful Bitcoin. This forum isn't capable of a peaceful Bitcoin. It's a 24/7/365 witch-hunt with the assclowns on this site. They can't help themselves. I'm not here saying any "side" has any kind of moral high ground. Both have done stupid, petty crap.
No. Bitcoin Core, as a group of independent individuals has done nothing wrong. Yet Garzik, Ver, Jihan keep attacking them and condoning attacks on them. And I commend the devs on maintaining a mostly neutral stance despite the slanging match encompassing them. This is purely about the 24/7/365 witch-hunt assclowns vs the so-called BigBlockers idiocy. It's all just posturing at the end of the day. Only the numbers matter. And again, Bitcoin will be fine. 1. "We want to bring Bitcoin to more users because it has unique features and qualities (namely permissionless-ness, resistance to tx censorship, resistance to inflation, pseudonymity) that the existing financial system doesn't offer. The presence of these features is contrary to the interests of many powerful entities (the legacy banking system, governments and their surveillance agencies) and only survive thanks to Bitcoin's decentralisation and absence of centralised points of failure. Being willing to sacrifice or endanger Bitcoin's decentralisation to achieve scaling isn't wise or forward thinking, and is completely self-defeating.
What's the point of on-boarding an ever greater number of users if you run the risk of weakening those features and give those users the same experience than current centralised paiement systems offer, e.g. tx censorship, vulnerability to inflation, and government surveillance? This would be a nonsensical and unproductive thing to do.
Doing this would be all the more absurd that we now know (as we have since 2015) that, before increasing base block size, we can greatly increase throughput through more efficient of block space (with Segwit and, in the near future, with MAST, Schnorr signatures and signatures aggregation) and more importantly, with second layer technologies such as the Lightning Network or sidechains. These technologies are under rapid development, and will soon alleviate scaling."2. Bitcoin is a formidable opportunity to bring greater monetary, economic and political freedom to all humans, and the single best hope of freedom-loving persons in this otherwise authoritarian and freedom-hating century. Regardless of whatever understanding or sympathy we may have for you and other NYA signatories, we who care about those things can not accept cooptation by companies who effectively are centralised points of failure at the mercy of governments.
If I could sum up my position (and the position of many users preoccupied with decentralisation), it would be: "let us scale wisely, without making short-term compromises that would weaken Bitcoin's unique features". Merely increasing base block size as soon as we lack space would be akin to kicking the can down the road to serfdom. And changing consensus rules at a whim - or worse, engaging in a 51% attack to coerce the community into following the new rules - would get us there in no time.Source; https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-October/000372.html
|
|
|
Bursted a laugh when I saw "TI" word. First The Game, Now TI?!?
I also heard that Ghostface Killah is also launching some related to crypto.
Good luck with that name.
|
|
|
Indeed, they are. Well, Bitcoin.com belongs to Roger so Roger = Jihan = Bitmain.
Not just that. Bitcoin.com announced that they will use 2x chain as a main chain, they will literally ignore the legacy chain.
You shouldn't listen to nor take anything that Roger Ver says seriously. He's a spoiled manchild. He recently said that Bitcoin Cash is the true Bitcoin, then change his statement to 2x a few days after. His statements are worthless, nor is he or this band of suits able to define Bitcoin. Bixin also supports Segwit2x from the beginning.
That does not necessarily have to imply that they are a Bitmain proxy (and I sure hope that they are not). There's still time for them to pull out of the agreement. Doubt it. Very important post from core; https://bitcoin.org/en/alert/2017-10-09-segwit2x-safety
|
|
|
What is this?
Segwit2x is going to happen. Why sit here and say it won't? It has so much support for miners and the companies. Making some post on a forum showing how Core doesn't want it is just making you look bad. Everything is going to be ok.... Calm down lol. Everyone is always so on edge about hard forks, meanwhile bitcoin goes even higher each time...
You came here to write this non-sense comment to fill up your monthly post quota so you can get paid from sig campaign, huh? Pity. He obviously did. Such a loser with shallow knowledge and understanding. I can support the idea of other pools being Bitmain Proxies.
Antpool, btc.top, viabtc, btc.com, bixin, bitcoin.com > %60 of the hashrate.
I am not so sure about Bixin and bitcoin.com, but the others are definitely Bitmain proxies and there was *evidence* of this in the past. BITMAIN is evil. Indeed, they are. Well, Bitcoin.com belongs to Roger so Roger = Jihan = Bitmain. Not just that. Bitcoin.com announced that they will use 2x chain as a main chain, they will literally ignore the legacy chain. Bixin also supports Segwit2x from the beginning.
|
|
|
Well basically that means there will be a hard fork with a replay protection or something, for sure. Coinbase, Xapo and all the NYA signers not going to move S2X chain but wait and see if S2X going to survive or not.
If the majority hash power moves to S2X and Legacy Bitcoin blockchain gets weak due low hashrate, NYA companies will have a good reason to convince their users about why they will move to S2X "to protect users money". Unfortunately, that gives Bitmain a lot of power here. People are under the impression that Bitmain doesn't care about Segwit2x because of Bitcoin Cash. I disagree. The BCH fork was largely about pushing the ecosystem away from Core. This represents another opportunity for Bitmain to do that, by making the legacy chain the weaker chain. It's already widely believed that most of the Chinese pools (as well as BTC.com) are just Bitmain proxies. And in private, according to Greg Maxwell, Jihan Wu has bragged that Bitmain controls a majority of the hash rate outright. That is the first option. Second option is, let's say %50 of the hashrate is moved to S2X. So, Original Bitcoin blocks will be created more slowly, UTXO will grow up and yes network congestion will happen but I think the gap will be replaced quickly.
This may happen but in the long term, it won't sustain. The market will eventually tip one direction or the other, and miners will follow. The question is: how much effect can miners have on the market? If most miners leave the network, that may have a big psychological effect on holders/traders. I can support the idea of other pools being Bitmain Proxies. Antpool, btc.top, viabtc, btc.com, bixin, bitcoin.com > %60 of the hashrate.
|
|
|
What is this?
Segwit2x is going to happen. Why sit here and say it won't? It has so much support for miners and the companies. Making some post on a forum showing how Core doesn't want it is just making you look bad.
Everything is going to be ok.... Calm down lol. Everyone is always so on edge about hard forks, meanwhile bitcoin goes even higher each time...
You came here to write this non-sense comment to fill up your monthly post quota so you can get paid from sig campaign, huh? Pity.
|
|
|
fear? not sure about that.
|
|
|
Ok guys CPU mining is still worth it. Here is an updated guide to mine bismuth on https://bismuth.acc-pool.pwI recommend using google or digital ocean for CPU mining. You should get around 300k-500k h/s per Core. Price per core can vary between 0,01 cent and 0,029 cent/hour. 1. Fire up a CPU optimized droplet 2. Install ubuntu 3. Install dependencies * sudo apt-get install python-twisted * sudo apt-get install python-pip * sudo apt-get install python-pip --fix-missing * sudo apt-get install python-socks * sudo apt-get install unzip 4. Download miner zip file wget " https://www.dropbox.com/s/reeg9btnylndwrj/MinerV3.zip?dl=0" 5. Unzip Miner file * unzip MinerV3.zip?dl=0 6. CD into miner file * cd MinerV3 7. Create text file to use for launching miner * touch startminer.bash 8. Edit startminer.bash for your address, worker name and threads * nano startminer.bash startminer.bash default text example to put in startminer.bash file ./miner bismuthaddress rigname Replace bismuthaddress with your address (see 11.) 9. chmod files to be executable * chmod +x startminer.bash * chmod +x miner 9 1/2. * tmux ( If not installed run * sudo apt-get install tmux ) Then run: ./startminer.bash Then press ctr + b + d. You can then close the SSH session and the miner will keep running. On reconnect to reopen to terminal window with the miner running use this command. * tmux attach 10. start miner using the startminer.bash file (If you used tmux for vps then no need to do this command again. Ignore 9 1/2 if installing to mine on a local machine) * ./startminer.bash 11. Link for node and wallet https://github.com/hclivess/Bismuth/releases/ or use the online wallet made by euroline https://biswallet.acc-pool.pw File "quickbismuth.pyx", line 15, in init quickbismuth (bin/quickbismuth_exe.c:7487) ImportError: No module named socks What to do? Install pip (if it's not already there, but run it regardless): sudo apt-get install pip Install socks lib using pip: sudo pip install PySocks ayyyyyyy, it worked. Thanks mate!
|
|
|
Source; https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-October/000372.htmlWe want to bring Bitcoin to more users because it has unique features and >> qualities (namely permissionless-ness, resistance to tx censorship, >> resistance to inflation, pseudonymity) that the existing financial system >> doesn't offer. The presence of these features is contrary to the interests >> of many powerful entities (the legacy banking system, governments and their >> surveillance agencies) and only survive thanks to Bitcoin's >> decentralisation and absence of centralised points of failure. Being >> willing to sacrifice or endanger Bitcoin's decentralisation to achieve >> scaling isn't wise or forward thinking, and is completely self-defeating. >> What's the point of on-boarding an ever greater number of users if you run >> the risk of weakening those features and give those users the same >> experience than current centralised paiement systems offer, e.g. tx >> censorship, vulnerability to inflation, and government surveillance? This >> would be a nonsensical and unproductive thing to do. >> >> Doing this would be all the more absurd that we now know (as we have >> since 2015) that, before increasing base block size, we can greatly >> increase throughput through more efficient of block space (with Segwit and, >> in the near future, with MAST, Schnorr signatures and signatures >> aggregation) and more importantly, with second layer technologies such as >> the Lightning Network or sidechains. These technologies are under rapid >> development, and will soon alleviate scaling.
|
|
|
Ok guys CPU mining is still worth it. Here is an updated guide to mine bismuth on https://bismuth.acc-pool.pwI recommend using google or digital ocean for CPU mining. You should get around 300k-500k h/s per Core. Price per core can vary between 0,01 cent and 0,029 cent/hour. 1. Fire up a CPU optimized droplet 2. Install ubuntu 3. Install dependencies * sudo apt-get install python-twisted * sudo apt-get install python-pip * sudo apt-get install python-pip --fix-missing * sudo apt-get install python-socks * sudo apt-get install unzip 4. Download miner zip file wget " https://www.dropbox.com/s/reeg9btnylndwrj/MinerV3.zip?dl=0" 5. Unzip Miner file * unzip MinerV3.zip?dl=0 6. CD into miner file * cd MinerV3 7. Create text file to use for launching miner * touch startminer.bash 8. Edit startminer.bash for your address, worker name and threads * nano startminer.bash startminer.bash default text example to put in startminer.bash file ./miner bismuthaddress rigname Replace bismuthaddress with your address (see 11.) 9. chmod files to be executable * chmod +x startminer.bash * chmod +x miner 9 1/2. * tmux ( If not installed run * sudo apt-get install tmux ) Then run: ./startminer.bash Then press ctr + b + d. You can then close the SSH session and the miner will keep running. On reconnect to reopen to terminal window with the miner running use this command. * tmux attach 10. start miner using the startminer.bash file (If you used tmux for vps then no need to do this command again. Ignore 9 1/2 if installing to mine on a local machine) * ./startminer.bash 11. Link for node and wallet https://github.com/hclivess/Bismuth/releases/ or use the online wallet made by euroline https://biswallet.acc-pool.pw File "quickbismuth.pyx", line 15, in init quickbismuth (bin/quickbismuth_exe.c:7487) ImportError: No module named socks What to do?
|
|
|
Opt-in replay protection removed from Segwit2x code but it will be probably replaced by something else that will secure both chains. The reason for removing is; Peter Todd and David Harding found a security vulnerability that would allow LN users to steal funds from each other. Source; https://github.com/btc1/bitcoin/commit/98c0af58c29efbecba25818adb5531fa8c3d0506Detailed Explanation; https://twitter.com/hrdng/status/915967021254414336-- Well basically that means there will be a hard fork with a replay protection or something, for sure. Coinbase, Xapo and all the NYA signers not going to move S2X chain but wait and see if S2X going to survive or not. If the majority hash power moves to S2X and Legacy Bitcoin blockchain gets weak due low hashrate, NYA companies will have a good reason to convince their users about why they will move to S2X "to protect users money". That is the first option. Second option is, let's say %50 of the hashrate is moved to S2X. So, Original Bitcoin blocks will be created more slowly, UTXO will grow up and yes network congestion will happen but I think the gap will be replaced quickly.
|
|
|
|