The Tide Is Turning

[dloghwak]

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

Then any merchants holding bitcoins after Black Friday would get singed. Not good for the bitcoin community, is it?

Most merchants don't hold the coins, only a minority does and they probably know the risk.

[Patatas]

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

Then any merchants holding bitcoins after Black Friday would get singed. Not good for the bitcoin community, is it?

Most merchants don't hold the coins, only a minority does and they probably know the risk.

The merchants have signed fiat deals with the bitcoin accepting exchanges .There are exchanges which no matter what the market price they still buy them.Merchants are keen on only selling their products ,they will make their money either way maybe after 10 more days when the prices become stable again but their major concern is to sell their goods.

[afbitcoins]

Has XT not gone away yet?

So what happens if XT diverges from bitcoin, do you have the same number of bitcoins on two different blockchains suddenly. Sorry for noobish question but I don't really understaned the repercussions.

Most agree that it's not wanted or needed.. Similarly though, people didn't want to launch an invasion of Iraq either and that happened regardless.

Technically, I believe that if 70% of nodes are running XT, then the network has forked. So even if you don't update your client, the new network is in effect. This new network maintains a blacklist (connections are blocked if they come from a TOR network, however, this blacklist can be updated so your coins will be not be able to be transacted out of your wallet if the maintainers put you on their naughty list) and that is why it is such a horrible thing to do to Bitcoin, which is non-discriminatory in nature.

Thanks for the reply I agree XT doesn't appeal to me either. I didn't know that about blacklisting TOR connections though.

But I'm still unclear about what happens to the bitcoins in your wallet in practical laymans terms. Say they get more than 70% of network and fork to XT. What does that actually mean? Does that mean you have to download an XT wallet to be able to use your bitcoins ? What happens to the ones on the old core wallet ?

[dragonseer]

But I'm still unclear about what happens to the bitcoins in your wallet in practical laymans terms. Say they get more than 70% of network and fork to XT. What does that actually mean? Does that mean you have to download an XT wallet to be able to use your bitcoins ? What happens to the ones on the old core wallet ?

The fork is structured so you don't have a say, it either happens to the network or it doesn't. The Bitcoins in the old core wallet have to be 'approved' by the new network.  If XT goes ahead and you don't like it, you will have to abandon ship. Think of it like a validation layer, while the 'blocksize' stuff is just there to justify this takeover.

Edit: One possiblity is that if XT is about to go ahead, the Core developers may release an update, so if you want to stick with 'traditional' Bitcoin, then you will have two blockchains splitting off. You will have plenty of warning if that is the case.

[afbitcoins]

But I'm still unclear about what happens to the bitcoins in your wallet in practical laymans terms. Say they get more than 70% of network and fork to XT. What does that actually mean? Does that mean you have to download an XT wallet to be able to use your bitcoins ? What happens to the ones on the old core wallet ?

The fork is structured so you don't have a say, it either happens to the network or it doesn't. The Bitcoins in the old core wallet have to be 'approved' by the new network.  If XT goes ahead and you don't like it, you will have to abandon ship. Think of it like a validation layer, while the 'blocksize' stuff is just there to justify this takeover.

Edit: One possiblity is that if XT is about to go ahead, the Core developers may release an update, so if you want to stick with 'traditional' Bitcoin, then you will have two blockchains splitting off. You will have plenty of warning if that is the case.

Thanks dragonseer I think that clears up my understanding of it.

I have to say all of this just makes Dash even more appealing. Dash has built in governance, masternode operators will vote on any such changes. Additionally developers have a budget paid by the blockchain. Much more democratic much better position to grow from.

[Pollak]

I'm glad to see it turning a bit, even though it seems like it's not much it's still fun to see it all happen right now.

I'm hoping we can hit $400 this month we still got a couple of days to go.

[AndySt]

I agree that the tide is turning but not clear in what direction and for what period of time. Before that it is limited only to isolated bursts of graphics.

[bitlancr]

I'm glad to see it turning a bit, even though it seems like it's not much it's still fun to see it all happen right now.

I'm hoping we can hit $400 this month we still got a couple of days to go.

Momentum is building up. Since a few days you can see the market is waiting for a turning point.

Either go up, or go down. This flirtation with the 350 barrier makes me a little bit excited to say the least.

Will we go to 400?

[ssmc2]

I'm glad to see it turning a bit, even though it seems like it's not much it's still fun to see it all happen right now.

I'm hoping we can hit $400 this month we still got a couple of days to go.

Momentum is building up. Since a few days you can see the market is waiting for a turning point.

Either go up, or go down. This flirtation with the 350 barrier makes me a little bit excited to say the least.

Will we go to 400?

Yes

[Bameras]

The price is still below $400. So the tide is not turning. I do not want the price to go too high. If the price is too volatile, it is not good for the usage of bitcoin.

[Kevin77]

I'm glad to see it turning a bit, even though it seems like it's not much it's still fun to see it all happen right now.

I'm hoping we can hit $400 this month we still got a couple of days to go.

Momentum is building up. Since a few days you can see the market is waiting for a turning point.

Either go up, or go down. This flirtation with the 350 barrier makes me a little bit excited to say the least.

Will we go to 400?

May be the black Friday sales a reason for this current trend. Bitstamp showed the day's high as $369 and the prices are getting stable around $350. This must be a good sign for upward momentum from market got struck around $320 levels. Now we can believe price may test $500 levels very soon.

[azguard]

tide will be stable on range 350-360$ for btc
unless something big happen over weekend for big but i dont expect some speculate that price may go up but i dont know i end of year yes but for 400 or 500 by end of this month
i dont think so

[pattu1]

The price is still below $400. So the tide is not turning. I do not want the price to go too high. If the price is too volatile, it is not good for the usage of bitcoin.

These huge swings attract a lot of speculators and those with high risk appetite into Bitcoin.
At this stage, we need all kinds of users.

[pereira4]

Bitcoin XT is a goverment trojan horse, and even then, it failed. I don't think Gavin coming up with that has anything to do with the headliness on some news sites have an impact on price. The variables are way too many to calculate and reduce it all into a single one that would drive the price up, it makes no sense.

[Jiamaf]

The price is still below $400. So the tide is not turning. I do not want the price to go too high. If the price is too volatile, it is not good for the usage of bitcoin.

These huge swings attract a lot of speculators and those with high risk appetite into Bitcoin.
At this stage, we need all kinds of users.

That is right. We need all kinds of people in this community as long as they can help the adoption of bitcoin.

[mixan]

I'm glad to see it turning a bit, even though it seems like it's not much it's still fun to see it all happen right now.

I'm hoping we can hit $400 this month we still got a couple of days to go.

Momentum is building up. Since a few days you can see the market is waiting for a turning point.

Either go up, or go down. This flirtation with the 350 barrier makes me a little bit excited to say the least.

Will we go to 400?

May be the black Friday sales a reason for this current trend. Bitstamp showed the day's high as $369 and the prices are getting stable around $350. This must be a good sign for upward momentum from market got struck around $320 levels. Now we can believe price may test $500 levels very soon.

I like the way has progressed. It hasn't jumped to far up to make people doubt in this wave. This is nominal activity for bitcoin to have, so it is nice to see it finally settling this way and not acting arradic.
Think it will be tested at $500 and that will be the first two weeks before the next big buying season coming up.

[Snorek]

Bitcoin XT is a goverment trojan horse, and even then, it failed. I don't think Gavin coming up with that has anything to do with the headliness on some news sites have an impact on price. The variables are way too many to calculate and reduce it all into a single one that would drive the price up, it makes no sense.

I wouldn't call it a Trojan Horse of government. XT was is just regulation - fair and square regulation which strips bitcoin of it 'free internet money for everyone' status and I hate it for that.
With that being said I think this is not the end of battle for bitcoin, in the future there will be even more attempts to bring down bitcoin functionality, the battle just started.

[manis]

Bitcoin XT is a goverment trojan horse, and even then, it failed. I don't think Gavin coming up with that has anything to do with the headliness on some news sites have an impact on price. The variables are way too many to calculate and reduce it all into a single one that would drive the price up, it makes no sense.

I wouldn't call it a Trojan Horse of government. XT was is just regulation - fair and square regulation which strips bitcoin of it 'free internet money for everyone' status and I hate it for that.
With that being said I think this is not the end of battle for bitcoin, in the future there will be even more attempts to bring down bitcoin functionality, the battle just started.

Attempts to bring down bitcoin functionality? All these debates are good.
What doesn't kill Bitcoin will only make it stronger. 

[jaredboice]

Bitcoin XT is a goverment trojan horse, and even then, it failed. I don't think Gavin coming up with that has anything to do with the headliness on some news sites have an impact on price. The variables are way too many to calculate and reduce it all into a single one that would drive the price up, it makes no sense.

All I have to say about Gavin is that I don't trust him.  He has met with both the CIA as well as the Council on Foreign Relations. I very much doubt that the CFR video conference with Gavin that we were shown was the only event that took place.  He certainly was spoken to by leadership behind the scenes.  A meeting must have taken place.  And now we see that Gavin is endorsing a version of Bitcoin that "solves a problem" (Hegelian Dialect) yet seems to include trojan horse properties.  Is anyone surprised?

[azguard]

The price is still below $400. So the tide is not turning. I do not want the price to go too high. If the price is too volatile, it is not good for the usage of bitcoin.

These huge swings attract a lot of speculators and those with high risk appetite into Bitcoin.
At this stage, we need all kinds of users.

more users more demand and price going up
seem like we will hit 400 in day or two if this continue