You can all argue all you want for Bitcoin Unlimited. Everyone including the supporters of BU themselves know that the code and engineering the BU developers are creating is subpar. As a community we have a responsibility to tell everyone this fact. It would be a big mistake to trust those developers at BU.
No it wouldn't. Why everyone thinks that jumping to BU would be like a disaster for bitcoin? BU has a strong developers team and their idea to increase the block size limit is really logical, just look at the fees right now, who would use bitcoins daily right now when you have to pay a massive fee of nearly one dollar or even more to just send over a few cents over the network? No they do not have a strong development team and their plan to increase block size by giving it for the miners to decide has its trade offs. The miners should serve the network not control the network to some certain degree. For me it just sounds ridiculous that's why I'm for BU, I'm fed up with all that core crap we need a big change here and now. Also segwit would be a huge loss for the miners which would mean that less and less people would be mining, thus bitcoin would become less decentralized.
Less and less miners? I would like to see some of the Chinese miners leave and see another more willing take their place. |
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it's funny every time that bitcoin have a price correction, poeple suddenly think about a big crash and that bitcoin is died or other shit like that It is either they are panicking and they want everyone else to panic with them or they are traders who think their posts can help move the market in a direction they want. i guess the more the value will big higher the more the fear will be to think bitcoin can go to zero and make you lose all your investment
this is the reason that makse them fear every minimal swings in the market, besides this i don't think the number of transactions being stuck have nothing to do with the value or we would sit below $1000 forever
The question we should be thinking about is why is Bitcoin this high despite the scalability issue. Something is off here. |
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... Maybe the SW/BU Bitcoin Civil War is starting to have a negative effect. 1. 182,000 unconfirmed transactions (highest I have ever seen in my casual monitoring at: https://blockchain.info/new-transactions) Segwit would have freed some space in a block it was always in the miner's hands. There is also BU, which is supposedly what the miners really want. But where is it? Why are the miners not doing the hard fork? 2. BTC down over $100 in one day. That is still ok by Bitcoin's standards. Down by $1000 in 1 day is something to worry about. I sure wish the Miner Wankers and the Developer Wankers would get together and SOLVE the scaling problem(s). Else they may damage the Bitcoin Ecosystem and discourage newbies from joining the community. It is more in the hands of the miners. The developers, both Core and BU, release code and you take it or you leave it. BTC to $5000 if/when they resolve all of this (credit to jonald_fyookball for that prediction, and I would agree with that number).
That is very arguable. |
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You can all argue all you want for Bitcoin Unlimited. Everyone including the supporters of BU themselves know that the code and engineering the BU developers are creating is subpar. As a community we have a responsibility to tell everyone this fact. It would be a big mistake to trust those developers at BU.
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Seems Japan still have that FOMO, it can be seen on the exchanges volume. This means the new trading volume comes majorly from Japan and it is not done yet, there are still pending license application from several large company that want to venture in Bitcoin too so we are expecting another push in price of Bitcoin this coming months.
And Japan now has the largest trading volume last 24hrs with 50%. And yes, there a lot of exchanges that are going to open soon in Japan so expect the price increase to continue. I might be missing something. Where did you get that data? Can you post he website here? Maybe the US or Canada are also putting a lot of the bitcoin tradings at a regular rate, but it is really Japan that is pumping new cash flow into the bitcoin ecosystem. We will need to note that the Chinese exchanges are going to resume the withdrawals as well. So this news will really push the price of bitcoin to go $3000 at the end of the month.
The Chinese are known to be the biggest dumpers of Bitcoin in the market after a decent rise in price. If they were around an the PBOC did not intervene I do not believe Bitcoin would have reached $1800. It is better if they are not around. |
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Not only a correction but also a dump. I am not saying that Bitcoin is dead or any of that but it will end somewhere. It is nothing but a natural occurrence in the market. Bubbles do form and then they burst and back again. It is recurring in nature.
I agree, every climb had its peak, or if peak is not yet reached, there is always a stop over or a possible downtrend and bitcoin is no exemption. The thing is that currently there is too much good news regarding bitcoin adoption in some countries, that might probably influence other country that has been neutral to bitcoin. I guess we can still see several ATH breaking prices before correction kicks in. You spoke too soon. The correction is starting now but I still see it as an opportunity to be more Bitcoins. I hope the correction goes all the way down to $1200. |
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"Segwit is a compromise" is rhetoric. Compromise between what? sensible scaling and no scaling?
Truth is: segwit is something Core came up with own their own without consulting the users, that offers a tiny amount of scaling as a soft fork.
But Segwit is also a fix to the malleability problem and improve the network to make it more robust right? It also opens Bitcoin to make it easier for other technologies like LN and Mimble Wimble to be built on the network. What is so bad about that? |
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The unconfirmed transactions now is the highest I have ever seen but shockingly I do not see any complaints? Have you all gotten used to it and now accept that it will always be there? So we have to live with it?
I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.
No complaints? Do you live under a stone? There are complaints all over this forum. The block size is relevant more than ever now. https://bitcointalk.org/index.php?topic=1913188.0Yes sorry. But I was expecting more and more threads of endless complaints about the state of the network. I am surprised that everything is still not as bad in the forum and the price is still going up. Maybe we see the chaos when there is 200k unconfirmed transactions and the price goes down? |
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The unconfirmed transactions now is the highest I have ever seen but shockingly I do not see any complaints? Have you all gotten used to it and now accept that it will always be there? So we have to live with it?
I believe there is only one thing that is making most of us hold Bitcoin. The rising price. If Bitcoin crashed to a $500 low and was always spammed so that each transaction will wait more then 24h to be confirmed, I believe it is natural for us to run to the next best store of value. Litecoin.
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from what i have been reading lately from around the web, the greater community wants segwit, which seems to be a success on every alt coin it has been applied to. cant see why any miners would want to risk splitting bitcoin and causing a crash when we have record highs in value, volume and fees. the only logical thing for miners to do is follow the money with segwit.
Lies spread by the BTC Core Troll Army , None of the alts that activated shitwit are even using it for LN yet. Would it not take more time to develop and test before it can be deployed? Give Segwit more time on Litecoin and let us see what happens. If it is good then maybe Bitcoin can activate it if no then at least we know. What is funny is not one of those alts need shitwit, they all have plenty of transaction capacity to spare,
in fact, there ONCHAIN transactions are so fast and cheap , LN will probably never used them. Yes. It is more to hype Litecoin and maybe test the technology for Bitcoin. The outcome could be good. Shitwit/LN will decrease the transaction fee Profits for the miners , they are a few years from the block halving, so transaction fees or the amount of transaction fees included per block will have to increase dramatically for them to make the same amount of money. BTC Core can lie all they want , Chinese Miners are not stupid enough to believe Core Lies.  Then they should hard fork it immediately away from Core to Bitcoin Unlimited. What are they waiting for? |
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I think a lot of volume is coming from Japan. There are many rich investors in that country, just like in China, but they were waiting for a green light from their government and got it. Now it took them some time to sell some assets and transfer huge money to exchanges, so it didn't happen instantly.
No it is not. Why do you all keep saying that? A Korean exchange has more volume than the largest Japanese exchange. Look! Most of the volume still come from the US. http://coinmarketcap.com/currencies/bitcoin/#marketsThe largest volumes that has Bitcoin in them are from Poloniex which is very surprising for an altcoin exchange. aTriz, are you making it all up? I have not heard back from you. |
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buyers will come in at 1100-1200 on next dip. you will never again get the chance to buy a bitcoin for under 1k.
I think you're right. I'd say that dip is coming real soon because the price just simply cannot keep increasing on a daily basis. Right now it's increasing by around $50 minimum every single day and that's the definition of a bubble in my opinion. But once it reaches 1100-1200 level people will think about how bitcoin rose so quickly from that level to 1750 which is the price level we are on right now, and people will start buying back again and bitcoin will rebound. It is not increasing by $50 every day. Bitcoin's price is down by 2% in the last 24 hours. Such corrections are good. They prevent the price from going up too fast and prevent a bubble from forming. However, I don't think we will see sub 1000 again. sub $1000 is a whole different story. but price has been rising fast, it is not about how much it goes up or down in one day but over a longer time like a week or a month. and this month bitcoin price has been rising a lot. we started at $1200 and now we are close to $1800 and that is about $600 rise which is a lot! (50% rise) and this means we should expect a correction soon. Not only a correction but also a dump. I am not saying that Bitcoin is dead or any of that but it will end somewhere. It is nothing but a natural occurrence in the market. Bubbles do form and then they burst and back again. It is recurring in nature. |
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I suggest compromise or walk away. Prolonged contention is unlikely the best course.
Agreed, compromise is always the best option for both sides. Competition always has consequences for both. However, in this case, I think competition is essential, I think bitcoin should be segwit. And there's the rub; walking away means one "side" gets the legacy/brand and the other is an altcoin. Ok but what kind of a compromise do you propose and why do you think it is a good idea? I used to think the same way as you but I realized that it is easy to say "do a compromise", but when asked what kind of compromise I cannot answer or I realize I do not know much to comment. Totally agree; saying compromise is indeed the easy part; creating it is the hard work. In this particular case it will start with both sides agreeing to something important and then each side giving in enough to be meaningful. For example, if both sides can agree to something like this; "It is important to keep things decentralized." If there is no agreement to something important then walk away. If there is true agreement then proceed to the next step; each side gives up something meaningful, e.g.; 1) All will promote/encourage multiple independent development teams. One dominate/central development team goes against our agreed to guiding principle. 2) All will agree to some small increment in the protocol at first and then measure/observe the impact and move towards results that work best toward decentralization. This is just an example. The actual negotiations would likely end up somewhere else. When both sides feel heard and respected then there is the possibility of compromise. Even in a walk away situation, it should be possible to negotiate inheritance of the legacy/brand; perhaps something along the lines of ETH/ETC. I get your point and as I said I used to think the same way. A compromise would be nice but I realized that the scaling debate is really a war for control. Lauda has pointed out that Segwit is the compromise but the Chinese miners does not want it. They want everything and want the hard fork to BU. Where is the compromise there? If there really was a compromise it would have happened in the Hong Kong meet up between Core and the miners. |
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Do a translation for the site in Mandarin and post it all over the Chinese Bitcoin forums. I am sure some of them are greedy enough to think up of nifty ways to get the job done.
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No, it wont, becouse BU is a shit
This made me really laughing hard. Also the fact that we know he could be hiding behind a fake account made by a long time member of Bitcointalk makes it more funny. It might be true though. There was another case of crashing nodes for BU I believe. |
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Well, we have heard some time ago that bitcoin is now accepted in Japan as a legal payment option.
Japanese authorities have decided to adopt it in their country, so currently if you go to japan just with access to your BTC wallet, you will be probably able to just spend this currency through the all time you are there: but I think that will happen not faster than in 3-4 years.
You need to spot a very important thing about that this goverment decided to make such a thing: the demand is now increased in there, because people will use it as a another way to pay in store or shop. What most of you do not realize is it will not make sense for people to start using Bitcoin in a store or shop that accepts CASH and CREDIT CARD. Why would they start using Bitcoin if it is not really needed? They can use CASH it is more efficient and gives less problems. So the Japan has made a very significant difference in bitcoin market capitalization, and same with the volume: the big part of it belongs currently to the citizens of this place.
This is the 2nd time I have seen this but without any evidence that proves it is true. Post it here and show us. |
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Nobody ever made respectable or insane amounts of money betting on the overdog. Same goes for Bitcoin. I've been on the ride since 300 and I'm still hanging on, and if anything just ignore the FUD and watch the price every now and then. Just know that one piece of information and a whale seeing it can cause price to dump and traders anguish. One reason to just buy and HODL and not trad, not saying trading isn't good for Bitcoin but I personally stopped a while ago.
As for 1000, I'm convinced we could possibly hit near that if something goes amiss. It won't be the end of the world but an annoyance in Bitcoin's journey to the moon.
Here is a thought. Bitcoin could be rewriting the way of trading trading strategies as we know it. Evidently we have not seen something like this before in all of human history. Some may compare Bitcoin's story with the Tulip Mania. That is a big mistake. Tulips do not have real world use in finance and markets. Bitcoin does and it is changing everything. The current price movements I think proved that the saying "History repeats itself" does not happen all the time. Nothing last forever and everything is changing so it is natural that bitcoin might be undergoing some kind of changes because of the past events that have happened. As we know it now, whales can control bitcoin price up or down but seeing it as the way it is now, I think whales does not have any control at all to what is happening now. Even if that is the case I think it is too early to say that sub 1000$ price is gone forever so for now I will watch price movements and see it till the end even if it is pumped or dumped. Your post im confusing. What is your point behind all that rabble babble? You say one thing and then you say another thing. Anyway what do you think of this thought. I believe the rising price is an advanced preparation for the next halving by the miners. Next block reward would be 6.25 BTC. Knowing the greed of the miners, they would need a really high Bitcoin price to gain profit and continue operating their mining farms. I also believe we will see further centralization of mining by that time. |
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I suggest compromise or walk away. Prolonged contention is unlikely the best course.
Agreed, compromise is always the best option for both sides. Competition always has consequences for both. However, in this case, I think competition is essential, I think bitcoin should be segwit. And there's the rub; walking away means one "side" gets the legacy/brand and the other is an altcoin. Ok but what kind of a compromise do you propose and why do you think it is a good idea? I used to think the same way as you but I realized that it is easy to say "do a compromise", but when asked what kind of compromise I cannot answer or I realize I do not know much to comment. |
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People who are saying that Its just a matter of days/weeks should be more realistic, just because Its increasing and going well, doesn't mean It's going to continue until we reach the moon. The faster It goes high, the faster It will go down and the dump could be huge so Its better to get an increase with stability instead.
One vote for this. I dont want a faster hike for I dont want a faster drop. It already happened before and it is not cool but instead it is a heartbreak. Those who profited from it are just those who are awake for what? 15 minutes? Dont like that idea of just a few who can make money out of it. Chaos and panics are made because of that. Dont tell me because they are just the lucky ones. It is better if we all make it at the same time. I don't think this is a faster hike. This is just how it should be since Japan has adopted bitcoin. I think they are buying into bitcoin and trading as well because they are now half of the trading volumes per 24 hours. So it makes only for bitcoin for raise this kind of price recently. Maybe there are pumping but not temporarily that there will be a big crash. Are you sure that Japan has half the trading volume per 24 hours? I believe you are making that up. Please post the trading volumes from the Japanese exchanges and show us the numbers before you make things up. |
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OP, before sending transactions outside of Coinbase always check the unconfirmed transaction count. https://blockchain.info/charts/mempool-countAnything above 20k unconfirmed transactions is too high these days, before it was 10k. But a slightly higher fee will fix that. But if you want to move your coins just for the sake of moving then it is better to wait for the mempool to be under 10k unconfirmed transactions. We should now also learn how to be efficient in using Bitcoin. |
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