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

[BldSwtTrs]

Xt is dead!?:
https://bitcoinmagazine.com/21699/major-mining-pools-make-stand-bitcoin-xt-fork-support-bip-100-grows/
without the biggest mining pool they will never reach 75%

A mining pool doesn't own its hashrate, miners can go mine elswhere on a whim.

XT is dead tho...

Why?

it has like 2% hashing power voting for it while BIP100 or 8MB options are both at like 20%

https://www.blocktrail.com/BTC/pools

Miners will follow the nodes. If XT has 80% nodes in January miners will just follow what was decided by them.

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[Fatman3001]

Xt is dead!?:
https://bitcoinmagazine.com/21699/major-mining-pools-make-stand-bitcoin-xt-fork-support-bip-100-grows/
without the biggest mining pool they will never reach 75%

A mining pool doesn't own its hashrate, miners can go mine elswhere on a whim.

XT is dead tho...

Why?

it has like 2% hashing power voting for it while BIP100 or 8MB options are both at like 20%

https://www.blocktrail.com/BTC/pools

Miners will follow the nodes. If XT has 80% nodes in January miners will just follow what was decided by them.

No. It might add some pressure, but there is no technical reason for them to do so.

[BitofaN1]

My negative $18 balance issue on Finex got resolved and i could finally get out of that cess pool.They substracted those 18 bucks from my btc balance.Dick move considering that all my trades had all the fees attached  to them, payed in full.I wasn't using any swaps, nor was i trading on margin.
Got fleeced hard but am still glad I escaped with my all funds.Good riddance Bfx.

[julian071]

My negative $18 balance issue on Finex got resolved and i could finally get out of that cess pool.They substracted those 18 bucks from my btc balance.Dick move considering that all my trades had all the fees attached  to them, payed in full.I wasn't using any swaps, nor was i trading on margin.
Got fleeced hard but am still glad I escaped with my all funds.Good riddance Bfx.

Must be a big relief, congrats man.

[julian071]

Kraken seems to be down...

Edit: judging by bitcoinwisdom they've not been trading for more then a half hour now...

[adamstgBit]

Xt is dead!?:
https://bitcoinmagazine.com/21699/major-mining-pools-make-stand-bitcoin-xt-fork-support-bip-100-grows/
without the biggest mining pool they will never reach 75%

A mining pool doesn't own its hashrate, miners can go mine elswhere on a whim.

XT is dead tho...

Why?

it has like 2% hashing power voting for it while BIP100 or 8MB options are both at like 20%

https://www.blocktrail.com/BTC/pools

Miners will follow the nodes. If XT has 80% nodes in January miners will just follow what was decided by them.

No. It might add some pressure, but there is no technical reason for them to do so.

i doubt miners will follow a bunch of fake nodes, and bet they are too lazy to fake 80% of the nodes.

there pretty much consensus about this, XT is a flop

BIP100 is looking promising, i think if they tweak it a bit to address some people's paranoid concerns about it, its going to win.

[molecular]

there pretty much consensus about this, XT is a flop

XT has reached is goal imo to put more pressure. It has also brought out the worst in some people and pointed to some related problems (centralization of control over the places the community uses to communicate, for example).

I ran XT on my node for a while for exactly this reason. I never intended to blindly follow Hearns changes in the future and I think I'm not alone.

[JorgeStolfi]

Xt is dead!?:
https://bitcoinmagazine.com/21699/major-mining-pools-make-stand-bitcoin-xt-fork-support-bip-100-grows/
without the biggest mining pool they will never reach 75%

The important thing is to get a majority of the miners to agree to raise the limit to 8 MB (or some other common value in that ballpark).   Then they need only agree for a date to start doing so, and tell the world about it.

Which software they will use for that is irrelevant, as well as the method that they use to get into agreement, announce their decision, and enable the new limit.  If the Blockstream developers do not cede, the miners can either use another version, or take the Core base and patch it themselves.  All major miners suerly have enough programming expertise to do that.

[aztecminer]

My negative $18 balance issue on Finex got resolved and i could finally get out of that cess pool.They substracted those 18 bucks from my btc balance.Dick move considering that all my trades had all the fees attached  to them, payed in full.I wasn't using any swaps, nor was i trading on margin.
Got fleeced hard but am still glad I escaped with my all funds.Good riddance Bfx.

getting scheme fleeced to get out is bullish .. sounds like they have a money problem going on over there .

[julian071]

Strange how Kraken.com tweets that some clients cannot access their website, but trading seems to have stopped. Or maybe the API for connecting to bitcoinwisdom is just also broken.

[ErikvanBreen]

Lets see how high BTC price will get today

[adamstgBit]

there pretty much consensus about this, XT is a flop

XT has reached is goal imo to put more pressure. It has also brought out the worst in some people and pointed to some related problems (centralization of control over the places the community uses to communicate, for example).

I ran XT on my node for a while for exactly this reason. I never intended to blindly follow Hearns changes in the future and I think I'm not alone.

i really dont think gavin goal was simply put pressure, but it has worked out that way.

i wonder what will happen to him... not sure if the Core devs will take him back, if he can't dev bitcoin, what will he do?? GavinCoin is becoming a real possibility  

[moneymanagment]

Seems to be going up

[oda.krell]

there pretty much consensus about this, XT is a flop

XT has reached is goal imo to put more pressure. It has also brought out the worst in some people and pointed to some related problems (centralization of control over the places the community uses to communicate, for example).

I ran XT on my node for a while for exactly this reason. I never intended to blindly follow Hearns changes in the future and I think I'm not alone.

The biggest mystery to me is how we arrived at this situation, where Gavin and Mike (felt they) had to resort to the fork solution mess...

Sure, a certain number of maxblockheads resisting any and all changes to the protocol I can see as being unavoidable. But why Gavin didn't manage to convince a majority of the core devs to support some adjustment is still not entirely clear to me.

Either Gavin tried to push exclusively his idea of an adjustment (which, admittedly, can seem a bit drastic) - in that case, it's a failure on his side to compromise. Alternatively, there was a consensus by the rest of the team that the current limit better not be touched at all right now (in which case, Gavin did the right thing, even if the right thing is a huge mess as well).

From the outside, I got the impression it was a combination of the two above, but I wonder if someone closer to the core team knows if one of these two aspects was the dominant factor.

[brg444]

Xt is dead!?:
https://bitcoinmagazine.com/21699/major-mining-pools-make-stand-bitcoin-xt-fork-support-bip-100-grows/
without the biggest mining pool they will never reach 75%

The important thing is to get a majority of the miners to agree to raise the limit to 8 MB (or some other common value in that ballpark).   Then they need only agree for a date to start doing so, and tell the world about it.

Which software they will use for that is irrelevant, as well as the method that they use to get into agreement, announce their decision, and enable the new limit.  If the Blockstream developers do not cede, the miners can either use another version, or take the Core base and patch it themselves.  All major miners suerly have enough programming expertise to do that.

Unlike whatever lunatic scenario your come up with trolfi know that miners trust core and they will do whatever core tells them they should do.

And that's not gonna be 8 MB.

[ChartBuddy]

Coin
Explanation

[tonycamp]

i just know it grows and it declines i can never tell if its good or bad to have a less than 300$ BTC could be better to sell the 500$ but for buy i supouse 300$ its quite god even in the stock market chinese slow down economy.

[brg444]

there pretty much consensus about this, XT is a flop

XT has reached is goal imo to put more pressure. It has also brought out the worst in some people and pointed to some related problems (centralization of control over the places the community uses to communicate, for example).

I ran XT on my node for a while for exactly this reason. I never intended to blindly follow Hearns changes in the future and I think I'm not alone.

The biggest mystery to me is how we arrived at this situation, where Gavin and Mike (felt they) had to resort to the fork solution mess...

Sure, a certain number of maxblockheads resisting any and all changes to the protocol I can see as being unavoidable. But why Gavin didn't manage to convince a majority of the core devs to support some adjustment is still not entirely clear to me.

Either Gavin tried to push exclusively his idea of an adjustment (which, admittedly, can seem a bit drastic) - in that case, it's a failure on his side to compromise. Alternatively, there was a consensus by the rest of the team that the current limit better not be touched at all right now (in which case, Gavin did the right thing, even if the right thing is a huge mess as well).

From the outside, I got the impression it was a combination of the two above, but I wonder if someone closer to the core team knows if one of these two aspects was the dominant factor.

Here's what happened.

Gavin pulled numbers out of his ass based on faulty tests (remember 20MB first?) then when core devs made it clear they wouldn't agree with his proposal dude ran home crying to Mama Hearn and they both decided to bypass core decision making process on the pretence of urgency.

The consensus was that current limit should not be touched under more rigorous testing was done to understand better the implications and unintended consequences of such a decision. Gavin couldn't convince anyone since instead of supporting his proposal w/ more technical material Gavin and Mike went full retard political and steered the ignorant masses into the mess you are witnessing.

That's if you actually believe that Gavin & Mike are not government agents trying to break Bitcoin which a good case can be made for..

[Fakhoury]

[adamstgBit]