Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[JorgeStolfi]

I sold everything. Hope to buy back cheaper, when this whole core / xt-thing blows over.

Gavin's plan (as I understood from his posts) is to deploy a large-block version of the software now, but the change would be programmed so as to allow 20 MB blocks only starting in Q4/2016.

That way, hopefully most everybody will have time to upgrade to the new version and adapt their own programs to allow for 20 MB blocks -- including the major exchanges and services, and most miners.  If that happens, the critical date will pass without a ripple for those who have upgraded.  For the laggards and rebels still using the old version at that time, they will find that they cannot use the exchanges and services, or maybe even move their coins; until they upgrade too.

[kodtycoon]

I'm calling over 1000 by the end of August  

[Mrpumperitis]

I sold everything. Hope to buy back cheaper, when this whole core / xt-thing blows over.

Gavin's plan (as I understood from his posts) is to deploy a large-block version of the software now, but the change would be programmed so as to allow 20 MB blocks only starting in Q4/2016.

That way, hopefully most everybody will have time to upgrade to the new version and adapt their own programs to allow for 20 MB blocks -- including the major exchanges and services, and most miners.  If that happens, the critical date will pass without a ripple for those who have upgraded.  For the laggards and rebels still using the old version at that time, they will find that they cannot use the exchanges and services, or maybe even move their coins; until they upgrade too.

im a bit confused with this bitcoinxt stuff, is it another coin? why do we really need it? if its a fork, then we could have 2 chains of btc? is gavin an ass? how many coins have more than 1mb size? thanks

[Cconvert2G36]

I sold everything. Hope to buy back cheaper, when this whole core / xt-thing blows over.

Gavin's plan (as I understood from his posts) is to deploy a large-block version of the software now, but the change would be programmed so as to allow 20 MB blocks only starting in Q4/2016.

That way, hopefully most everybody will have time to upgrade to the new version and adapt their own programs to allow for 20 MB blocks -- including the major exchanges and services, and most miners.  If that happens, the critical date will pass without a ripple for those who have upgraded.  For the laggards and rebels still using the old version at that time, they will find that they cannot use the exchanges and services, or maybe even move their coins; until they upgrade too.

This is the way I understand it as well. Although the "losing" fork doesn't have to instantly die, we could see two Bitcoins. julian071... see you in 11 months?

Through version checking, we will be able to monitor the "votes" of the network.

[ChartBuddy]

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[catena5260]

where is the big crash caused by the blockchain civil war that some people are talking about

Still 230

[Fatman3001]

where is the big crash caused by the blockchain civil war that some people are talking about

Still 230

This could only mean:

[ChartBuddy]

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[inca]

We seem to be crashing back into the 230's.

Lol.

[BayAreaCoins]

I can't even imagine what someone is thinking if they are buying right now.... lol jesus. Brave souls.

Futures are still over spot @ OKCoin, but not by much.

[JorgeStolfi]

im a bit confused with this bitcoinxt stuff, is it another coin? why do we really need it? if its a fork, then we could have 2 chains of btc? is gavin an ass? how many coins have more than 1mb size? thanks

As far as I know:

What everybody calls "bitcoin" consists of two things: the "bitcoin blockchain" that was started by Satoshi on 2009-01-03, and the "bitcoin protocol", a set of rules that say how the blockchain must be changed and used in response to client requests.

"Bitcoin-core" is a software that implements the bitcoin protocol. The first version was written by Satoshi sometime in 2008 or earlier.  It has been patched and improved since then by a handful of people, the "core devs".  Gavin inherited control of that software after Satoshi's rapture in 2010.  Recently he passed the job to another core dev, and now he works for a project at MIT.

"Bitcoin-XT" is another implementation of the bitcoin protocol, started by Mike Hearn.  It is still compatible with Bitcoin-core; either version can be used with the same wallet files.  Gavin recently said that he would be joining Mike in the development of this software.  Gavin mentioned very recently that he may use this version to push for the 20 MB change, since the current core devs do not seem to be in a hurry,

[inca]

I can't even imagine what someone is thinking if they are buying right now.... lol jesus. Brave souls.

Futures are still over spot @ OKCoin, but not by much.

Probably thinking the same as whoever sold the price lower last night.

[Cconvert2G36]

I can't even imagine what someone is thinking if they are buying right now.... lol jesus. Brave souls.

Must be that whole "buy when others are fearful" thing.

If you're planning on wringing your hands about the fork, you've got a long year+ ahead. Take a vacation, buy back when it's decided and the halving has happened if you wish.

[BayAreaCoins]

Is there any place to short BTC using fiat equity?

That way BTC can be shorted without holding the risk of having BTC?

If you're planning on wringing your hands about the fork, you've got a long year+ ahead....

Just as long as any other year

[ChartBuddy]

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[greenlion]

"Bitcoin-XT" is another implementation of the bitcoin protocol, started by Mike Hearn.  It is still compatible with Bitcoin-core; either version can be used with the same wallet files.  Gavin recently said that he would be joining Mike in the development of this software.  Gavin mentioned very recently that he may use this version to push for the 20 MB change, since the current core devs do not seem to be in a hurry,

Bitcoin-XT is not a re-implementation, it's a patch on top of Bitcoin Core that adds two features, double-spend relaying (which can be flagged for inspection) and the BIP64 getutxos message (which he needs for Lighthouse). The reason XT exists is because Mike Hearn can't get BIP64 implementation merged into Core (https://github.com/bitcoin/bitcoin/pull/4351). Gavin happened to be for putting BIP 64 in, so moving forward if this happened, Bitcoin-XT would be a proper fork based on the actual Core codebase, simply with these two differences plus the blocksize changes. The fact that moving to XT is considered a viable option might suggest that there is a much larger "turf war" going on here since at least the middle of 2014.

[ChartBuddy]

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[ChartBuddy]

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[Mayer Amschel]

So we can expect a rise to 250s this week.

- Mayer Amschel

[ChartBuddy]

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