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

[alexeft]

I think no..

If it does fork and their is little hash on a fork, the difficulty will still stay sky high, so blocks will just be extremely slow..
Maybe you can cpu mine a fork after difficulty retargets, but if hash is low enough for you to mine with a cpu, then it pretty much won't be worth anything..
If I understand correctly, which is 50/50 chance..

Wait a moment. If it forks, it means BU miners have a little more than 50% of the hashing power. Therefore BTC will remain with a little less than 50% and it will retarget the difficulty in a little more than a month instead of two weeks. It's not that bad!

Depends on when the fork occurs, and how much hash is left on each chain.  I'm not sure if there is a default time built in but difficultly retargets every 2016 blocks.  If hashpower drops dramatically all of the sudden on a particular fork/chain, then it will take a longer time to find blocks for sure - 15/20/1hour+, so it could take many many weeks to get things back to normal beyond the usual 2 weeks.

2016 blocks = 2 weeks .
1/2 the hashing power ~ 4 weeks 

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[minero1]

Oh yeah ...

What the heck is with the mantee pic?
And what does this graph of what looks like two red dicks colliding with each other mean?
That looks very scary.

[Torque]

https://coin.dance/nodes/share

Heh.. yeah, it really looks like that BU fork is happening any day now 

[york780]

Triple digits time mark my words. 900 EUR seems a good buying price.

[Torque]

Triple digits time mark my words. 900 EUR seems a good buying price.

The thing is, the whale pumper since ~$1000 (2/15) had planned on selling off after the ETF event anyway.  He (they?) just need a selloff/crash reason now.  

Problem is, they don't really have one except "dur hur BU fork threat dur hur, ETH/Dash much better dur hur". Social engineering FUD is all they got left.

[Ted E. Bare]

Triple digits time mark my words. 900 EUR seems a good buying price.

The thing is, the whale pumper since ~$1000 (2/15) had planned on selling off after the ETF event anyway.  He (they?) just need a selloff/crash reason now.  

Problem is, they don't really have one except "dur hur BU fork threat dur hur, ETH/Dash much better dur hur". Social engineering is all they got left.

Indeed, for most of us bitcoiners there is no incentive to sell. Nothing changed. You might get extremely lucky and buy back a little more coins at a lower price but that is no guarantee at all. Especially from where we are now. Look what happened after the ETF announcement. Many people sold at the bottom.

[gentlemand]

Indeed, for most of us bitcoiners there is no incentive to sell.

The thing is though that I don't think there's much incentive to do anything in either direction. I wouldn't really be inclined to buy or sell at present. So if that means a small number does take a direction, a larger number might join in for larks.

[arklan]

https://coin.dance/nodes/share

Heh.. yeah, it really looks like that BU fork is happening any day now 

wait - bitcoin unlimited has 11%? that's what we're dealing with? 11 FUCKING PERCENT!? jesus christ you guys.

or am i wrong and even with that 11% we'd still be shy of activating segwit? do we need 90% consensus or 95%?

[gentlemand]

wait - bitcoin unlimited has 11%? that's what we're dealing with? 11 FUCKING PERCENT!? jesus christ you guys.

or am i wrong and even with that 11% we'd still be shy of activating segwit? do we need 90% consensus or 95%?

Check the blocks mined instead of nodes. That's over 30% at present. Nodes aren't really that meaningful as many will be sitting on Amazon servers that'll go off when whoever doesn't get their pocket money.

Segwit is 95%.

[tk3609]

Looks like we are going for sub 800$, thank you BU FUD for cheap coins

[ImI]

r/BTC seems very angry about that exchanges announcement. i interpret that as a good sign.

[ImI]

https://coin.dance/nodes/share

Heh.. yeah, it really looks like that BU fork is happening any day now 

wait - bitcoin unlimited has 11%? that's what we're dealing with? 11 FUCKING PERCENT!? jesus christ you guys.

or am i wrong and even with that 11% we'd still be shy of activating segwit? do we need 90% consensus or 95%?

it's about hashrate not nodes. and 32% isnt THAT minor.

[Dafar]

r/BTC seems very angry about that exchanges announcement. i interpret that as a good sign.

Anytime r/BTC is angry is good for bitcoin

[Torque]

Indeed, for most of us bitcoiners there is no incentive to sell.

The thing is though that I don't think there's much incentive to do anything in either direction. I wouldn't really be inclined to buy or sell at present. So if that means a small number does take a direction, a larger number might join in for larks.

We really shouldn't underestimate how much the China PBoC has actually helped Bitcoin since January.  Yes, helped lol! I know that may sound weird, but look at what has been done to save Bitcoin's bacon this time around:

First, removing 100X margin trading was great in that the FOMO buying bubble leading up to the ETF announcement could only go so high. It would have been ALOT higher if 100X margin trading had been enabled.

Second, by locking down withdrawal of BTC on the Chinese exchanges, however crappy that may be for their users in the short term, there's zero chance of a Chinese exchange hack happening right now. And that's a good thing. Because no crash reason due to something like that. So the dumpers can't short bigly on bad news.

So that has forced the PnD'ers to rethink their strategy. Hence all the fork FUD and altcoin pumping. Other than that, they got nothing right now.

[Killerpotleaf]

http://www.coindesk.com/bitcoin-exchanges-unveil-emergency-hard-fork-contingency-plan/

According to the statement – backed by Bitfinex, Bitstamp, BTCC, Bitso, Bitsquare, Bitonic, Bitbank, Coinfloor, Coincheck, itBit, QuadrigaCX, Bitt, Bittrex, Kraken, Ripio, ShapeShift, The Rock Trading and Zaif – the exchanges would list the BU asset under the BTU or XBU tickers in the event of a network split, which they collectively say "may be inevitable".

That's some really great news!
The big exchanges would list BU as an alternative asset in terms of a network split!
So even with less hashrate BTC keeps being BTC.Awesome!

gr8 news everyone BU is gonna be one of these altcoins that are rising +25% a day  

[tk3609]

First, removing 100X margin trading was great in that the FOMO buying bubble leading up to the ETF announcement could only go so high. It would have been ALOT higher if 100X margin trading had been enabled.

Which Chinese exchanges had 100x leverage?

[york780]

Down we go ! 

[arklan]

https://coin.dance/nodes/share

Heh.. yeah, it really looks like that BU fork is happening any day now 

wait - bitcoin unlimited has 11%? that's what we're dealing with? 11 FUCKING PERCENT!? jesus christ you guys.

or am i wrong and even with that 11% we'd still be shy of activating segwit? do we need 90% consensus or 95%?

it's about hashrate not nodes. and 32% isnt THAT minor.

ah, my mistake.

[BinaryReign]

Must the battle for $1,100 still wage on? Who will win? Do we go up or down from here? No way for me to know for sure, but I for once am starting to consider selling more than .2 btc, which probably means up lmao

[Torque]

First, removing 100X margin trading was great in that the FOMO buying bubble leading up to the ETF announcement could only go so high. It would have been ALOT higher if 100X margin trading had been enabled.

Which Chinese exchanges had 100x leverage?

I think at least a few of the major ones like OKCoin and Huobi.
http://www.newsbtc.com/2017/01/17/bitcoin-price-thrives-despite-china-curbing-margin-trading/