I don't understand.
They deleted Peter R. answer to my question about the relationship between the nodes and the consensus rules (I suppose that for being "off topic"), but they did not erase all other comments from other users on the same subject.
Yes. Moderation getting very partisan. And veering far from stated policies. Here is what I wrote, that was deleted by the mods: Nodes can influence the rule set and its enforcement in proportion to their share of the network hash power. This is Bitcoin's direct governance mechanism.
Market participants can influence the rule set and its enforcement in proportion to their economic power. This is Bitcoin's indirect governance mechanism.
A non-mining node by itself has no influence. This is easy to prove: if you run 100 raspberry-pi nodes, do you have more influence over the rule set and its enforcement than if you unplugged 99 of them? Of course not, because only the people behind those (non-mining) nodes matter, not the nodes themselves.Thats an oversimplification, if everyone were to run a node which differed from the consensus rules that all the miners ran, then someone is gonna change. Probably, the miners will change to the rules of the nodes as they have more pressing bills to pay, this is of course the basis for UASF. Collectively nodes indirectly dictate the rules. |
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FUD? Who knows.
Tencent reported that Sichuan has issued a notice indicating that all BTC production is ILLEGAL. Thus all hydro power plants are to cut off electricity supplies or face penalty.
The second image is the supposedly "official document".
As I discussed before, those miners ship their miners to KangDing in Sichuan during Spring as the Himalaya melts and water flow downstream into Sichuan for cheap electricity from hydro power. Miners ship their Antminers to coal producing region like Inner Mongolia during winter as the Tibetan plateau freeze up and electricity cost doubles. Just to note that it is almost winter now.
Edit: Just to note that this is actually "Bullish" for BTC as it will effectively kill off those Bitmain mining farms, if true, or at least increase electricity cost significantly. So that individual miners actually have a chance to mine if profitability allows.
This is good news, without the cheap electricity subsidy perhaps everyone will be able to compete fairly. If mining is banned in China, the mining operations can probably easily move to neighbouring countries, who I'm sure will be very happy to take a slice of their profits through some sort of taxation. |
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The only risk to you is that I may have also signed that same bitcoin over to someone else.
More recently another risk emerged: The ability of the node to feed the user a different chain, and then proclaiming that this chain is Bitcoin - when it's not. In this scenario, a userbase which relies heavily on a few nodes can be switched to any implementation the few node-owners want. So if a few node-owners collude, they can switch nearly the entire BTC userbase to another coin and then proclaim it BTC. So nodes are important. Very important. Sounds like you don't understand how PoW works. There are risks associated with an SPV node, you have said that there hasn't been an example of the attacks being used in the wild, and this in some way you use to support the argument that we don't need to worry about them. A false TX history, restricting access to funds, or faking the receipt of funds, all these are possible, but because no one has done it yet, you say we don't ever need to worry about it? You have absolutely no idea what the threats will come in the future, the threat model to Bitcoin is changing monthly at the moment, we know that there is a distinct possibility that there is a miner with control/influence over 51% of the hash power and chopping out a significant part of the security of Bitcoin because you don't believe it is likely, doesn't wash. Your SPV argument is as a direct result of your pursuit of bigger blocks, you have backed yourself into a corner, deep down you know that your full node argument is on dodgy ground, but if you want big blocks you don't have much choice but to defend a lost cause. Compromise the security of Bitcoin in your chosen chain.... but not mine. |
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Fucking RogerBucks. Have been waiting for over 3 hours now for the last block to confirm so I can dump my partners BCH on Kraken.
Working as intended my, supple and firm gay-ass...
Yes, I got the same problem, fork is after 7pm tonight (not sure exactly when), so perhaps blocks will go back to 10mins then, |
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Jihan Wu of Bitmain imho, made MILLIONS on this pump and dump
Correct me if I'm wrong, but running pump and dump scheme doesn't come with 100% guarantee of success, right? If 90% of the pump cycle is manipulator, and 10% are suckers, and the same for the dump cycle, the result is not much profit for manipulator. I don't think BCH people are making money out of this, they are simply committing to their idea, putting their money where their mouth is. The people selling BCH are the BTC supporters. Roger, Jihan & Co. can't dump their BCH yet, there is almost no-one else to buy them in volume. |
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You don't know how many BTC Ver has left. Some say he invested A LOT in shitcoins and his operations who may not be profitable at all!!!
Bitmain as probably the owner real significant miner for Bcash was also mining at a loss for quite some time.
We don't know how economically strong they really are at the moment. They are not broke!! But maybe also not as strong and competitive as you may think.
That is a good point, its all guess work really. Look at this disgusting nonsense from Ver's, Bitcoin.com. Its actually linked from the home page. The way they call BCash "Bitcoin Cash" and the real Bitcoin they call "Segwit 1X". If that isn't a clear indication of their disgraceful underhand behaviour, think of all the newbies coming in and trying to make sense of it all. It's brand highjacking, I have no idea if it is illegal, and I know Bitcoin shouldn't rely on state support, but the truth needs to get out there. This is simply dishonest.  |
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What I wrote back on 21/8 is fairly similar
Segwit2X is designed to fail (Garzic is not even implementing Replay Protection) which will ensure Core supporters dislike it, and they can spread there ideas easily to those who are on the fence.
These little pumps in the BCH price are designed to shake out the core supporting BTC holders. They will play with the price until November enticing us to sell in various ways.
Then November comes, Segwit2X fails, Jihan switches to BCH and then the real push starts.
BTC is left with 10-20% of hash power and stalls for a few weeks/months until the difficulty re-calc.
No-body is left to hold back the BCH price and it is pushed dramatically upwards to try and create a viable alternative, Main stream media is saturated with anti BTC articles. BCH announce a bunch of partnerships and deals.
There is more to their plan, than we have seen so far.
Maybe good to pick up some cheap BCH over the next few months to help kill it later.
Everything that has happened so far was easily predictable in advance, this is just the opening (sacrificial) battle, in a war. Perhaps I am giving them too much credit, but, I think they are playing a longer game than we currently see.
This turned out to be pretty accurate, and I had no special insight, anyone can invent conspiracy theories. That's was a very good prediction of what is now happening. The war on Bitcoin is just starting, and I fear that there will be a bloodbath coming. All because of ego and greed. Perhaps the SegWit2x cancellation was part of their plan. They knew what they were doing all along. It remains to be seen how strong and resilient the Bitcoin network is to that attack, and whether on not it will come out of it victorious. We will know soon enough. What distresses me is a lot BTC whales dumped their BCH for a low value. Now, Jihan , Ver and Co. have a large amount of BTC, and a large amount of BCH, and we have nothing to fight back with. They can't hold the BCH price artificially high forever. After UASF and the failure of 2X, the power in Bitcoin has confirmed its real position, and thats with the users. A POW change is maybe the last step to fire the disruptive element. The appetite for POW change may have lessened with the failure of 2X, but now is the time we must prepare for it, and build a consensus for what should trigger it in the future. That alone should bring the disruptive element into line. The penalties for future disruption would be clear. The miners use their hash power as a weapon, the non-miners also have power over that weapon, as we determine the POW. |
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[ image snipped... ]
bang on
Do you have any evidence that this document was written before yesterday, when lots of people myself included, imagined such conspiracy theories. Its not on way bayback machine and there is no other link reference to it, so it looks to me like fud. In this Twitter feed, many people confirm they read it as early as the time of the Bitcoin Cash fork (1 August 2017). So it should be genuine, unless the guys that confirm it are in on the FUD game... https://twitter.com/ToneVays/status/929162434790744064Actually I saw that, but I wanted something a bit more, anything reliable that has a date stamp. What I wrote back on 21/8 is fairly similar
Segwit2X is designed to fail (Garzic is not even implementing Replay Protection) which will ensure Core supporters dislike it, and they can spread there ideas easily to those who are on the fence.
These little pumps in the BCH price are designed to shake out the core supporting BTC holders. They will play with the price until November enticing us to sell in various ways.
Then November comes, Segwit2X fails, Jihan switches to BCH and then the real push starts.
BTC is left with 10-20% of hash power and stalls for a few weeks/months until the difficulty re-calc.
No-body is left to hold back the BCH price and it is pushed dramatically upwards to try and create a viable alternative, Main stream media is saturated with anti BTC articles. BCH announce a bunch of partnerships and deals.
There is more to their plan, than we have seen so far.
Maybe good to pick up some cheap BCH over the next few months to help kill it later.
Everything that has happened so far was easily predictable in advance, this is just the opening (sacrificial) battle, in a war. Perhaps I am giving them too much credit, but, I think they are playing a longer game than we currently see.
This turned out to be pretty accurate, and I had no special insight, anyone can invent conspiracy theories. |
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 bang on Do you have any evidence that this document was written before yesterday, when lots of people myself included, imagined such conspiracy theories. Its not on way bayback machine and there is no other link reference to it, so it looks to me like fud. Even if this is true, the artificial price rises and market manipulations needs to be sustained with genuine market confidence, otherwise the prices will re-converge on a more accurate representation of peoples real beliefs. Their pockets are deep, but not limitless. 2X & the current price proves that the world is behind the real Bitcoin in the Bitcoin Core repo, their only hope is a world wide main stream media campaign, bring it on, Bitcoiners won't let it any of their crap pass without challenge. |
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BCH is soaring...
Good for those who still have them.
If you still hold the same number of BCH and BTC, the total value of both of them hasn't changed much today. |
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With CME going live in less than a week, alts better watch their game. This may still be a premature rotation...
Im slightly confused on how CME will affect the price of bitcoin as there is no actual bitcoin bought in their trades and people using CME are basically just betting on the future price. Or have i got it totally wrong? so are they so is erryone From some I hear it will allows shortesr to destroy Bitcoin, from others it will bring new money (indirectly) into the ecosystem and push up the price. Some say it will stabilise the price, others that it will increase volatility. I guess we are going to have to simply wait and see. |
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Everything I'm seeing suggests Segwit2x will have a small amount of miners
Everything? Well, there is the fact that the overwhelming majority of blocks are indicating support for S2X. I'm indicating for a chocolate fudge sundae, but I still don't have one. |
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OK, I'm out. Sold everything @ 6120 euro. Only have some Dash and Byteball left. Gonna watch this whole Segwit2X-thing from the sidelines, I'll buy back cheaper or more expensive depending on the outcome.
Hope this selling everything pans out as well as the last time I did.
Perhaps we are running out of steam for the moment, (FWIW Tone Vays called top on 5/11.- though we may possibly see another ATH before the fork). I see many people comparing this fork to the BCash & BTCGold forks, but this is a contentious "upgrade" designed to supplant the existing chain. Nothing we learnt about forks from the last two will have any relevance to this one. There are a number of risks coming up, 1) Miners attack - inevitably leading to POW change. All significant attacks on the chain will result in a POW change. I don't think a POW change will destroy bitcoin, but it will surely damage the price. This may appear like something they won't do, but it may be a sacrifice someone is willing to make to control the future of Bitcoin. If the hash rate of the existing chain is low enough they could probably do it anonymously. Though of course we will all know who it is. 2) Mike Belshie's cabal of dumpers https://twitter.com/WhalePanda/status/926407742381789185After the fork, 2X'ers will dump their BTC stash and dramatically reduce the price, this will ensure some of the 'for profit' miners can make more on BCash. The B2X chain is probably a write-off at the beginning as all the NO2X'ers will be dumping their B2X coins. I think it is best if people stagger their dumps, to ensure it keeps the price low over a longer period. 3) CME is a godsend tool for shorters, and has been engineered to come online just before the fork.(2 days before) It is not good news at the moment. https://www.youtube.com/watch?v=g0BRyNvgBx8. The current price has a lot of people invested who haven't really been tested in one of the classic BTC dumps. CME will give people an easy opportunity to cause panic in these people. 4) The current split is 85:15 (BTC:B2X) - unlike previous non contentious forks, this one is 'only one can survive' BTC may well immediately drop 15% after the fork. It shouldn't 'create value out of thin air' like the Cash fork. 5) This could simply be a side effect of the BCH stealing hash rate but, The next difficulty is going down https://bitcoinwisdom.com/bitcoin/difficulty. You would expect the pro 2X miners to ensure it was higher so the BTC chain finds it more difficult to make blocks, but lowering the difficulty is more indicative that they want to attack the chain. - The easiest attack for them is just creating empty blocks, they could do that by mining as usual, or by mining a secret chain that wipes out many days of the chain once released. 6) The new difficulty algorithm in BCash becomes active a 2 days before the fork, again this has been engineered to ensure BCash can efficiently steal mining power from other chains. 7) The existing BTC chain could stall for a large amount of time, filled with high fee spam and very infrequently blocks. (though, just after the fork, it may proceed as usual to permit the 2X'ers to move coins to the exchanges for dumping). The stars are all aligning for a significant event. Clearly most of these probably won't materialise, but they are un-predicatble because, as in a war, they depend of the tactics employed by the opposition. It all depends on the mind of the enemy, something you can't really know for sure. I don't think people should under estimate that this is a war for Bitcoin. The opposition (miners) have a number of nuclear options available to them, and if pushed towards defeat they may consider using them. They may even have mapped out the scenarios and decide to use them pre-emptively. Any dirty tricks will lead to a retaliation, I'm bullish for long term BTC, and will only support the original Core Chain, but the times are very uncertain and locking in some profits now is probably a wise move, (TBH I've already completed a sell, as I don't want to get caught in a rush for the door). |
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Wasn't MtGox enough of a lesson of what can happen when you give up your private keys?
I'm still hoping someday there will be a distribution from the bankruptcy estate. Might even get some Bitcoin Cash out of it! Eventually, probably in several years from now, Karpeles is gonna get very rich, and we are all gonna get fuck'd and paid $480/BTC. (MtGox is now solvent, and all excess profits will be distributed to shareholders) edit: Peter Vessenes. who is holding up the MtGox distribution, is now working with Geoff Garziks - Metronome https://www.metronome.io |
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How is this possible? BTG lacks a replay protection, so no sane man would currently transfer it's BTG to Bitfinix, because their BTC would be at stake... Did BFX already credit BTG to BTC holders? People need to be very careful, they may unwittingly be trading something that is NOT even their BTG. Any fork of Bitcoin could be used at this point, with no way to confirm what it even is... a name means nothing. Don't just blindly trust exchanges. There is no BTG yet, they simply announced a snapshot date. Its an illusion. All the exchanges are trading 'tokens' that represent coins. The exchanges know that they have the coins because they will be in the same address the Bitcoin's were are the time of the fork, but they can't see or use them until they get a proper BTG Node software. Its a virtual virtual currency  |
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2) You could move your coins before the fork to a paper wallet, and then after the fork move them back to the Trezor, BTCGold should be left on the paper wallet.
Didn't the snapshot happen already? Anyway I heard it was today... Fork is in 3hours and 20mins from now. |
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Here's a question to anyone partially intelligent.
What's the deal with getting bgold when my btc is on a Trezor?
All I am reading about is no replay protection and it's a bit unsettling to say the least. I bought the Trezor for 2 reasons
1) security
2) ease of claiming coins during a fork as last time I had paper wallets and it was a total kick in the plums trying to set up new wallets, move coins and enter old priv key into bcash software wallet.
It doesn't seem as easy as pressing a "coin split" button and then "send to exchange" button as I had hoped.
Live and learn.
1) The easy way to get the coins is wait until Trezor incorporate some sort of coin splitting. But you may not get the ability until well after everyone else. 2) You could move you coins before the fork to a paper wallet, and then after the fork move them back to the Trezor, BTCGold should be left on the paper wallet. 3) Another way is to extract the private keys from your Trezor seed manually. You can use this script. https://gist.github.com/mflaxman/f6350d84cef7a9ef997a0bc99f120a86****Please don't do this unless you are confident that you know what you are doing. To ensure security don't do it on a machine thats connected to the internet, and once completed wipe the machine completely. **** BTCGold dev has said they will definitely release with replay protection. |
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bitcoin gold (btg)Will create problems to bitcoin (btc)
Go on then, I'll bite, what problems, explain pls? if you have bitcoin sell it now .. that wht i can say to you ; mate Well, I gave you a chance, ignore meet barota. |
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bitcoin gold (btg)Will create problems to bitcoin (btc)
Go on then, I'll bite, what problems, explain pls? |
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