Sounds like you are trying to paint your fantasy about what you think the world is? These levels of consensus do not signify that there is 99 and 98% agreement pertaining to particulars. We already know that there is disagreement that goes pretty high... so we are not out of the woods yet, no matter how you try to paint the situation as some kind of flower power orgy.  Some people paint the tape, I paint the fantasy  I really mean it though... more or less. You can really mean it and you can be sincere about it, but if you are spinning reality rather than recognizing certain important and material facts, then you are likely going to get into trouble from time to time. Maybe you conclude that the benefits outweigh the costs? I just think that it is problematic... and surely we have to see how things go in the coming weeks.. but there is no fucking way that there is 98% to 99% consensus regarding underlying scaling issues including the 2mb blocksize limit, whether there should be a hardfork, and governance issues. You must take into account that what miners are signaling is Segwit2x (which includes the 2MB HF sometime later this year) and they are doing it with a consensus that has just now reached 100%. Btw, Antminer Antpool has just started to signal for BIP141. It is very possible that 95% signaling rate is achieved too once more mining pools start doing the same. In fact, it will probably be 100% as non BIP141 blocks will get orphaned. P.S.: BIP141 58.3% for last 24h and growing FAST. |
|
|
|
Sounds like you are trying to paint your fantasy about what you think the world is? These levels of consensus do not signify that there is 99 and 98% agreement pertaining to particulars. We already know that there is disagreement that goes pretty high... so we are not out of the woods yet, no matter how you try to paint the situation as some kind of flower power orgy. Some people paint the tape, I paint the fantasy I really mean it though... more or less. |
|
|
|
Ok guys, let's do some recap here. Miners started signaling even earlier than was expected (21 July). That's why some miners got caught unprepared and there was doubts if it would make it in first activation period or next one. Fortunately it did, and price was rising along the probability of lock-in, as expected. It has been years of criticism against Bitcoin for its lack of scalability. This has set the beginning of the solution. Very soon we will feel the effect of the positive news on this issue, which should start to be posted from now on. Also, in a couple of weeks until Segwit is effectively in place without incidents the remaining fears will also dissipate. It is also important to note the great consensus achieved with the following rates as of now: - Segwit2x (intention): 99.3% - BIP91: 98% This is exactly what we needed and HOW we needed it. With those figures there must be no fear of contentious HF and if a 2MB increase via HF is executed some time later with this same support theres nothing to fear. I just hope they work along core to do it safely. The future of Bitcoin couldn't be brightest than it is now. This will be a great year for Bitcoin TO DA MOON!!!! |
|
|
|
If you have a gun, why food? There a plenty of stray cats, squirrels. rabbits, coyotes, beaver, etc near the creek. I'm sure that I can find plenty of plant stuff to eat in the woods.
I think quixotic is how I'd describe this idea of living a Grizzly Adams lifestyle in a post-apocalyptic world. Well, when one lives in the foothills of the Rockies, the wilderness is not far off. There is plenty of room in this state. And with the federal government hopefully out of the way, that's a lot of land to be able to squat on for only 5.5 million people. When all that people and more go on the wild to find anything to eat... you won't. You better adapt to eat some other human beings before they die of starvation themselves. And right there is where r0ach try to do something with his silver... yeah, right.... |
|
|
|
|
Holy shit. What a bad moment to have some fucked up variance in block generation RIGHT AFTER lock-in. Good a block finally came in.
|
|
|
|
|
Please don't tell me the fucking buggy code is orphaning every block post lock-in... nah, it doesn't make sense, it haven't even ACTIVATED yet.
|
|
|
|
No blocks for 43 minutes. Have all the miners gone home or switched to a secret new coin?
what?  that's strange, just looking at that now..... Wait, what? |
|
|
|
Buy on rumor, sell on news. I just bought a little bit of gold with some satoshi. Not much, but I was bored looking at the silver bullion coins that I bought a few weeks ago. Now with my bullion holdings, I'll be able to buy a month worth of cigarettes if financial collapse happens. You should also get some 90% junk silver coins if you don't already have some. In a worst case SHTF scenario, would be great for barter. In such scenario you better stock up cans of food, guns, ammo, gas, and any other useful stuff. There will be plenty of people trying to exchange their useless jewels for real stuff. "Money" in any form is ONLY usefull when there is excedent of resources. If you have a gun, why food? There a plenty of stray cats, squirrels. rabbits, coyotes, beaver, etc near the creek. I'm sure that I can find plenty of plant stuff to eat in the woods. ammo will be limited in such scenario. YOu can find plenty of plants to eat RIGHT NOW. When there are millions of people doing the same.... good luck finding any first. People doesn't realise how bad such a scenario would be. They just think it would be same as if they did it RIGHT NOW. No.... you would be competing with thousand of millions people doing the same. Horrible. |
|
|
|
Buy on rumor, sell on news. I just bought a little bit of gold with some satoshi. Not much, but I was bored looking at the silver bullion coins that I bought a few weeks ago. Now with my bullion holdings, I'll be able to buy a month worth of cigarettes if financial collapse happens. You should also get some 90% junk silver coins if you don't already have some. In a worst case SHTF scenario, would be great for barter. In such scenario you better stock up cans of food, guns, ammo, gas, and any other useful stuff. There will be plenty of people trying to exchange their useless jewels for real stuff. "Money" in any form is ONLY usefull when there is excedent of resources. It's a storage of value, when there is excedent, otherwise it is absolutely useless. |
|
|
|
Buy on rumor, sell on news. I just bought a little bit of gold with some satoshi. Not much, but I was bored looking at the silver bullion coins that I bought a few weeks ago. Now with my bullion holdings, I'll be able to buy a month worth of cigarettes if financial collapse happens. Litecoin dropped a little bit the day SegWit activated then climbed naturally from there to over $50/LTC. And that minor dump was right after ACTIVATION, not after LOCK-IN. In fact it kept rising from lock-in to activation for two weeks. |
|
|
|
Predictible profit taken. Let's see how low it goes before resuming the rise.
Not to worry. The inflationary dollar is going down so this will support bitcoin up for a long time. Not worried  |
|
|
|
|
Predictible profit taking. Let's see how low it goes before resuming the rise.
|
|
|
|
Locked!!!!
Now what?
Now you get to discover there is no decentralized lightning network. LN is multi-centralised by definition (star topology). Whats the problem? |
|
|
|
|
BIP 91
BIP 91 has now met the required signalling level for the period (80%) and has now locked in.
BIP 91 has locked in
BIP 91 activation is scheduled to take place in: 352 Blocks
Miners have until this time to upgrade their nodes. Blocks not signalling BIP 141 (bit 1) will be rejected after activatio
|
|
|
|
|
I am back. Are we rich yet?
|
|
|
|
With 86.8% now and F2pool on board since a little while, only one big trolling by some big pool would avoid lock-in in a few hours.
P.S.: Segwit2x (intention) is now at 97.9%. With that majority I don't really care if they do a hard fork to 2MB. In fact I am in favor of it. JUst don't ever mention the aberration of BU next to me.
The 2MB hard fork is in reality a small change that probably has few negative effects, I think most devs will agree, but it is a proxy war, a battle for control. If it becomes the dominant fork, It means that the network is being run on non Core code, built by Devs who have no track record, can spit out a largely untested HF in a few weeks, and claim it can safely run a $40B network. There is a real risk of the best and most experienced talent draining out of the eco-system. And the most serious problem is that the network is a risk of greater further centralisation, driven not by those with a decentralised ideology, but those obsessed with profit. Of course we all like profit, but without de-centralisation at the core of Bitcoin it's just another paypal. That's why I am in favor of a fixed blocksize increase which is a very simple patch for core. BU isn't, plus it gives miners the control on blocksize, not only to enlarge it, but also to reduce it... plus it is more complex and BUGGY code. That's a no-no for me. Increasing the blocksize now to 2MB? I am ok, we will need it. More so if it is approved by more than 95% hashrate. NO issues there. |
|
|
|
Not that I am betting on it, but I think this Segwit on Bitcoin is way more important than it appears on first instance.
Most people don't realize that if SegWit had gotten approved a few years ago, it would have essentially been a non-event and the market would have responded with a whimper. The only reason that anyone places any significance to it now, is because the miners made it a point of contention to hold back upgrades. They made a mountain out of a molehill. That is really all. And the mega whales are playing it for all its worth (not really that much). Now Bitcoin is free to reach any price that is right for it, whichever that is, without the weight that was holding it in favor of other shitcoins. Not saying that we are going to do a 25x as Ethereum or other shitcoins did this year.... but yeah, I do expect a higher ATH sometime soon and maybe a 2x by end of year. Call me a fool. The right price for it is the price reached when most buyers are users rather than speculators looking to make a profit. There has been heavy speculation going on lately. The rise in April/May was due in great part to bitfinex's withdrawal issues, with more and more speculators buying as it rose, and it never really corrected In about 5-6 hours we will be in BIP91 lock-in So be ready Price will explode even more Buy the rumor, sell the news ... ...Because going from $3000 to $1800 is not a correction? About the sell on the news... If the Litecoin example is usefull, the price started rising when segwit lock-in was almost sure, then a little more when it really locket, then more in the next couple of weeks before ACTIVATION, until just after activation where it had a little dump. |
|
|
|
52 blocks before current lock-in period ends. Still 37 blocks needed for a lock-in.
There are 81.7% BIP91 blocks mined in the current period.
How many time for 37 blocks ? around 10 minutes each (do you even Bitcoin?), so 370 minutes. |
|
|
|
Not that I am betting on it, but I think this Segwit on Bitcoin is way more important than it appears on first instance.
Most people don't realize that if SegWit had gotten approved a few years ago, it would have essentially been a non-event and the market would have responded with a whimper. The only reason that anyone places any significance to it now, is because the miners made it a point of contention to hold back upgrades. They made a mountain out of a molehill. That is really all. And the mega whales are playing it for all its worth (not really that much). I do somewhat agree. Two years ago the scaling issue was almost a non-issue. It wasn't holding the price. Blocks were not completely full (no matter if spam). This agreement comes in the perfect moment. In summer, which is an "slow month". It prepares the road for another HUGE pump after the summer. Now Bitcoin is free to reach any price that is right for it, whichever that is, without the weight that was holding it in favor of other shitcoins. Not saying that we are going to do a 25x as Ethereum or other shitcoins did this year.... but yeah, I do expect a higher ATH sometime soon and maybe a 2x by end of year. Call me a fool. |
|
|
|
|
Show Posts
