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

[bitserve]

I am thinking about pushing a Segwit patch to Bitcoin Cash github. Any chance it would be approved on time before 1 Aug?

You can try. I'm guessing you'll be met with an overwhelming chorus of NAKs.

Damn Bitcoin Cash Core ! They want to control everything! They are stopping real scalability for their own benefit!

Hahah.

On a more serious note: There are several other mechanisms that fix malleability. There is still a discussion to be had as to whether or not SegWit is the best approach.

Fixing malleability is important, but my predilection for Segwit goes much more far than that. It enables a whole new world of second layer and integration posibilities. Lighting Networks will be an AWESOME add... people focus on fee reduction but that's not the main point:

- INSTANT transactions... yep, not one hour, not ten minutes, not one minute, no.... INSTANT.

- Unlimited transaction capacity... Not 3, not 7, not 100, not 1000, not even 1.000.000, no... UNLIMITED <- Think about the "marketing" posibilities of this feature, now think about the press releases, the media coverage, no more "Bitcoin is saturated"... now think about price impact. Yeah, we don't need UNLIMITED atm... but a good marketing punch and price increase is always welcome, isn't it?

- Once we have L2 in place, many of the improvements could be done as an additional layer, reducing complexity of main critical code. Avoid innecesary risks.

- With Rootstock any "advantaging" feature Ethereum might have will be dwarfed. Imagine what other posibilities can be added in the feature <- Yep, I am thinking about market share/dominance now.

I could go on, but those are probably my main reasons for loving Segwit and LN... as you can see, at least for me, it is MUCH MORE than just TPS.

Also, I do agree blocksize increases will be eventually needed. And we can start with the 2MB increase that was agreed in NY agreement. It is perfectly ok to me, not just as a compromise, but because I HOPE it will be needed very soon. (that would mean a 2-10x adoption increase as a payment channel).

[European Central Bank]

What do you mean?
And my question was about the hard fork?
I do day trading sometimes

you don't know what it means to have coins on an exchange?

it's exactly the same as a bank. when you deposit in a bank you no longer have any money, you have credit with them. there's a possibility you won't get any money back, albeit an extremely remote one.

all your coins are on kraken are an entry on a database that they control.

as for the fort, the simplest option is to withdraw to a paper wallet. send the bitcoins elsewhere after the fork and then use the private keys for bitcoin cash.

[fluidjax]

as for the fort, the simplest option is to withdraw to a paper wallet. send the bitcoins elsewhere after the fork and then use the private keys for bitcoin cash.

This is a good way to do it. If the replay protection on the BCC network has any bugs your Bitcoin will still be safe.

So:
All your bitcoins are on Address A
After fork transfer your bitcoins on Address A to a new address Address B. - All your BTC are in Address B
If the replay protection worked as it should, the BCC coins should all still be on Address A.
You can new use the private keys for Address A in a BCC enabled wallet.

[bitserve]

I have just now realized we will probably break all records of Bitcoins moved in early August.

Everyone will wanna dump their Bitcoin Cash shitcoins and that will also translate into many BTC tx's.

It will probably be better to consolidate BTC from multiple addresses BEFORE 1 AUG, to avoid paying high fees until the dust settles.

[Xavofat]

I am thinking about pushing a Segwit patch to Bitcoin Cash github. Any chance it would be approved on time before 1 Aug?

You can try. I'm guessing you'll be met with an overwhelming chorus of NAKs.

Damn Bitcoin Cash Core ! They want to control everything! They are stopping real scalability for their own benefit!

Hahah.

On a more serious note: There are several other mechanisms that fix malleability. There is still a discussion to be had as to whether or not SegWit is the best approach.

Fixing malleability is important, but my predilection for Segwit goes much more far than that. It enables a whole new world of second layer and integration posibilities. Lighting Networks will be an AWESOME add... people focus on fee reduction but that's not the main point:

When I mentioned this, HostFat (who did Bitcoin Cash's ANN thread) said that they intended to add LN support with a future hard fork. 

They haven't gone into details about this and I haven't seen a roadmap, but I don't think they're against it.

[kurious]

Bitstamp's Position:

"We would like to take this opportunity to let you know our plans for the upcoming weeks as we navigate any potential disruptions on the Bitcoin (BTC) network. As always, our focus will continue to be on the safety of your funds. In the event of a User Activated Hard Fork (UAHF) on 1 August or thereafter, it is important to clarify that Bitstamp would not be in a position to support Bitcoin Cash (BCC), the coin associated with the Bitcoin Cash proposal. In Bitstamp's view, BCC is an alt-coin and the decision to list BCC tokens remains at our sole discretion at all times.

If Bitstamp chooses to list BCC, we would decide at our own discretion on what course of action to take with balances deriving from the hard fork. BCC would also be subject to the same due diligence processes as for any other alt-coin, which requires time and careful planning. For these reason, Bitstamp is not in a position to support BCC, nor will Bitstamp be liable for any BCC sent to Bitstamp.

As always, the safety of your funds remains our number one priority. To this end, as a security precaution, we will be disabling bitcoin deposits and withdrawals on 31 July 2017 at 23:00 hrs UTC to ensure that all BTC funds stored at Bitstamp remain secure. Trading will remain unaffected throughout. Deposits and withdrawals will be resumed only when we deem it safe and prudent to do so.

We will leave it to you to decide whether to withdraw your BTC funds from Bitstamp prior to this cut-off date if you would like to access BCC or any other hard fork, and Bitstamp shall not be held liable for any consequences of that decision, from neither a financial, operational nor regulatory standpoint.

To be clear, Bitstamp has no favoured outcome to the resolution of the bitcoin scaling issue. Our sole focus is on you and your best interests. As such, we are continuing to monitor developments closely. Please check our Twitter feed, Facebook page and website for the latest news, updates and developments.

Best,

The Bitstamp team"

[lemmyK]

soo will better withdraw than wait for "maybe jackpot" 

[kurious]

as for the fort, the simplest option is to withdraw to a paper wallet. send the bitcoins elsewhere after the fork and then use the private keys for bitcoin cash.

This is a good way to do it. If the replay protection on the BCC network has any bugs your Bitcoin will still be safe.

So:
All your bitcoins are on Address A
After fork transfer your bitcoins on Address A to a new address Address B. - All your BTC are in Address B
If the replay protection worked as it should, the BCC coins should all still be on Address A.
You can new use the private keys for Address A in a BCC enabled wallet.

Makes sense and nice and easy - I was worried about private keys vulnerability with a newly forged BCC...

Thanks.

[Dakustaking76]

Lol that rich Guy morherfucker warns poeple to not use btc ore buy it.
Howard Marks

[bones261]

I wish BitcoinWisdom would fix their home page.

[Torque]

So how you guys liking that back-and-forth wash trading?

Feels just like a groundswell of overwhelming public demand, doesn't it?  At this rate we'll be over $5K in no time!  /s

[ivomm]

[becoin]

So how you guys liking that back-and-forth wash trading?

Feels just like a groundswell of overwhelming public demand, doesn't it?  At this rate we'll be over $5K in no time!  /s

$5K is a done deal. Interesting question is if we go over $10K by the end of this year?

[savetherainforest]

Guys may i ask something..

Are my bitcoins save at kraken?
Ore better to send hardware wallet?

I need to know...

I suggest you take your coins out of the exchange on your own wallet... but keep it on multiple things, in multiple places and not connected to the internet. (a.k.a. "cold storage" )

From what I see there is a battle against exchanges and the goal is the confiscation of bitcoin by governments. Then they auction the coins and make a quick buck! Hence reducing their state / local deficit in their budgets.      #EconomicGrowth    

[Torque]

So how you guys liking that back-and-forth wash trading?

Feels just like a groundswell of overwhelming public demand, doesn't it?  At this rate we'll be over $5K in no time!  /s

$5K is a done deal. Interesting question is if we go over $10K by the end of this year?

So sure are we? Hope that you are right, but I'm curious what you are attributing that to.

I'm not sure that Average Joe, after reading the headlines about BTC-e's demise and that bitcoin is used by criminals, will be falling all over himself to buy ANY bitcoin right now. Especially when he has absolutely no fkn clue what either SegWit or SegWit2X are, nor does he care.

[European Central Bank]

average joe will not drive the price up until many more years have passed. no one cares what average joe thinks for now.

[Torque]

average joe will not drive the price up until many more years have passed. no one cares what average joe thinks for now.

So nefarious market manipulators and shady Chinese miners are the only ones that matter for now. Actual users don't matter.

Got it.

[savetherainforest]

average joe will not drive the price up until many more years have passed. no one cares what average joe thinks for now.

So nefarious market manipulators and shady Chinese miners are the only ones that matter for now. Actual users don't matter.

Got it.

The actually small time users have a role to play as well. Because they eat from the profits of the big guys!

If you stay and think about it, in a normal market rigging scenario, the big guys win, win and win with every rally. Ok?? ... So basically when they pump but still get less and even less. Those 1-2% losses are still loses and "the little fish" are eating from their "kahuna" profits.

[European Central Bank]

Correct.

[JimboToronto]

Good morning Bitcoinland.

Didn't check in yesterday. Got woken up by an urgent phone call and was busy all day. Still managed to buy the dip though.

Now it's up by over $100 which is small potatoes but at least it's up... currently $2565USD (Bitcoinaverage).
_______

Added 3 coins this week using about half of my Bitcoin purchase allowance. I think that's it until August unless something weird happens.

I hope I don't get stuck with a $10kCAD fiat bag if the price soars in August. I still think there will be some kind of extreme volatility though and I want to be ready.

I guess we have to wait and see.