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

[HanvanBitcoin]

1181 BTC to Bitstamp ATH

Hell yeah! GO GO BTC!  its fun watching those gains today 

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[Meuh6879]

Discharge or not ... this friday night/saturday morning ?

[Meuh6879]

"... to protect people ..."

The usual excuse 

true : https://www.youtube.com/watch?v=6ZCVQHtD2l4 (andreas explain this).

[Peter R]

He was right, though.  The fact that BCH has fast difficulty adjustment and bitcoin doesn't while the Chinese control most of the hash power is gonna be mega-problems for BTC.

A fast difficulty adjustment works both ways. Say a lot of SHA256 power goes into bch...it rapes mining for a few tens of blocks with low diff and then miners switch back to Bitcoin, while bch hangs there, waiting for miners, but nobody is mining it due to high difficulty. It'll take hours to get it unstuck.

The effect on bitcoin is a few delayed blocks, while the fast-adjusting bch will have created an anomaly similar to how multi-pools rape altcoins - while getting raped itself and then left for hours to come down. The altcoin market has shown that the fast-adjusting coin is more exploitable and disrupted from multi-pools.

The problem cannot be easily solved for bch because if you try a detection mechanism that checks whether the blocks aren't arriving to do a massive diff cut, then you are going into an uneven mining pattern, accelerating inflation.

BCH is only fast adjusting for difficulty drops when blocks are taking too long.  Miners who want to raise difficulty have the same 2016 block period to deal with.

Correct. 

And this asymmetry makes the effect more destabilizing. 

[jbreher]

Ever since [Bitcoin Cash -ed] launched, I see more and more trolls and shills for that shitcoin on this thread. And they all seem to be really irritated. Likely because their precious coin keeps falling in price.

In this moment, I am serene.

[Torque]

In this moment, I am serene.

Me too, especially when BITCOIN's price and hash rate are still increasing. 

[JimboToronto]

Good morning Bitcoinland.

The price keeps creeping upward... currently $2870USD (Bitcoinaverage). There's no sign of it losing any value from the hard fork.

Let's see what happens when segwit clears out the mempool. Moon launch?

Let's also see what happens when the AltCash difficulty drops enough for transactions to move at a practical pace. Dump to oblivion?
______

Speaking of AltCash, isn't it time to come to an agreement regarding its ticker designation?

BTC is already well established for Bitcoin. I always thought BCC referred to Bitcoin Core, as compared to BCU for Bitcoin Unlimited.

BCH seems the obvious choice for the altcoin "Bitcoin" Cash. Can't we all just go with that?

[cashodler]

Good morning Bitcoinland.

The price keeps creeping upward... currently $2870USD (Bitcoinaverage). There's no sign of it losing any value from the hard fork.

Let's see what happens when segwit clears out the mempool. Moon launch?

Let's also see what happens when the AltCash difficulty drops enough for transactions to move at a practical pace. Dump to oblivion?
______

Speaking of AltCash, isn't it time to come to an agreement regarding its ticker designation?

BTC is already well established for Bitcoin. I always thought BCC referred to Bitcoin Core, as compared to BCU for Bitcoin Unlimited.

BCH seems the obvious choice for the altcoin "Bitcoin" Cash. Can't we all just go with that?

Segwit clears out the mempool? Trust me, most people don't even know what mempool is. Anyway, we'll hit the new ATH soon, but then BTC will crash hard, because of Bitcoin Cash, you'll see, everything's getting ready for a takeover.

[GHCoins45]

Can someone explain me what segwit will do? In a language that I can understand

[rjclarke2000]

Good morning Bitcoinland.

The price keeps creeping upward... currently $2870USD (Bitcoinaverage). There's no sign of it losing any value from the hard fork.

Let's see what happens when segwit clears out the mempool. Moon launch?

Let's also see what happens when the AltCash difficulty drops enough for transactions to move at a practical pace. Dump to oblivion?
______

Speaking of AltCash, isn't it time to come to an agreement regarding its ticker designation?

BTC is already well established for Bitcoin. I always thought BCC referred to Bitcoin Core, as compared to BCU for Bitcoin Unlimited.

BCH seems the obvious choice for the altcoin "Bitcoin" Cash. Can't we all just go with that?

Coinmarketcap says BCH so to me it's BCH

[Torque]

Segwit clears out the mempool? Trust me, most people don't even know what mempool is. Anyway, we'll hit the new ATH soon, but then BTC will crash hard, because of Bitcoin Cash, you'll see, everything's getting ready for a takeover.

Says the newb troll shill account that's literally a day old.  

/ignore on

[cashodler]

Can someone explain me what segwit will do? In a language that I can understand

Faster transactions, but less secure network, the real developers would never agree with segwit implementation. Segwit will lead to the new ATH but Bitcoin might possibly crash hard, because people will understand that segwit isn't the future and we need larger blocks, but developers backed by AXA BANK (Bitcoin Core; yes it's really a private bank) will refuse to implement "2x" part of segwit2x and the chain might fork yet again and people will run to Bitcoin Cash, which si ready to get mass adopted and is the real bitcoin Satoshi described in his whitepaper. It will be really easy for those who adopted Bitcoin to convert to Bitcoin Cash, so that's something I wouldn't really worry, we can forget about Bitcoin in a while and use the real bitcoin. Therefore, from now I would call the current bitcoin Bitcoin Legacy and buy a lot of BCH when it hits the low to at least hedge your funds, because it's possible that Bitcoin Legacy will really crash and Chinese miners will dump BTC and buy cheap BCH from morons like most of the people on this forum.

Whenever you find yourself on the side of the majority, it is time to pause and reflect.

[savetherainforest]

Segwit clears out the mempool? Trust me, most people don't even know what mempool is. Anyway, we'll hit the new ATH soon, but then BTC will crash hard, because of Bitcoin Cash, you'll see, everything's getting ready for a takeover.

Says the newb troll shill account that's literally a day old.  

/ignore on

Good catch!... I think I have some kind of "ignore mode On", and I never see these messages. I probably see not even 50 points on their accounts and I skip. It might be a good or bad habit, depends how you see it. 

[cashodler]

Segwit clears out the mempool? Trust me, most people don't even know what mempool is. Anyway, we'll hit the new ATH soon, but then BTC will crash hard, because of Bitcoin Cash, you'll see, everything's getting ready for a takeover.

Says the newb troll shill account that's literally a day old.  

/ignore on

Good catch!... I think I have some kind of "ignore mode On", and I never see these messages. I probably see not even 50 points on their accounts and I skip. It might be a good or bad habit, depends how you see it.  

I've been reading bitcointalk for months, but registered now. You're more of a troll, because you don't even discuss what I said, you are afraid, fear is within you, that's why people act like you. I've presented many arguments why I think what will happen in recent threads and posts, but only minority was able to discuss. You are to blame, you are the one, who isn't open minded and sees segwit and thinks Moon, gonna be rich soon, no, you're not. Only not bitcoin tech-savvy people would praise segwit and the next bitcoin core scaling suggestions that are meant to destroy what we've built so far. Hopefully, we have bitcoin cash running and it will be quite easy to transit from bitcoin legacy to bitcoin cash.

[Torque]

Good catch!... I think I have some kind of "ignore mode On", and I never see these messages. I probably see not even 50 points on their accounts and I skip. It might be a good or bad habit, depends how you see it.  

I always give everyone that comes here the benefit of the doubt at first, even if they are brand new.

But if they begin to show their true colors to be a troll, a shill for alts, butt hurt for selling out, or just plain belligerent and argumentative for no reason other than to stroke their own ego, and I've had enough of their shit, then I hit ignore.

It amazes me how many trolls come to this forum specificially to bash on Bitcoin. What a waste of time for them. But eventually they run out of gas and leave, just like JStolfi and all the rest. I suspect that r0ach will eventually run out of gas too, or just everyone will put him on ignore so his silver/nazi crap just falls on deaf ears.

[jojo69]

What a waste of time for them. But eventually they run out of gas and leave, just like JStolfi and the rest.  

god, let's hope roach is getting low on fuel

[hv_]

Bcash cost of production (difficulty) is now being slashed by 20% per block for the next 6 blocks. Expect miners to follow cost of production slavishly. Forking guys have no idea what they have unleashed ... it will become apparent soon now.

Yes, the existence BCC will destabilize BCT mining.  

So you have been a part of knowingly destabilising bitcoin mining? Neither chain will be stable, the 'hard-fork now!' camp have just stupidly devalued any investment they had in bitcoin (BTC or BCH) ... unless of course you actually work for govvy agents or other actors aiming to do exactly that which you admit to.

Merged-mining is one way BCH can gracefully admit their gargantuan fuck-up and save face (seems they spend a lot of time doing that). You weren't around when we already tried these 'experiments', it's not a pretty outcome. Bitcoin will survive but the credibility of the idiot  loud-mouth crowd doesn't stand much chance (not that they had a lot). Enjoy your forking euphoria, your ultimate downfall has now been sealed.

Big blockers blame small blockers for the fork; small blockers blame big blockers.  I think a split was inevitable given the two distinct visions for Bitcoin's future.

Regarding destabilizing mining, I think what this means is that in the medium term, only one chain will survive (at least with any real value).  The miners will eventually see their incentive to kill off one of the chains. 

The question is which one. 

I think the answer gets easier if the 2x does not come or even a PoW change.

[Meuh6879]

Can someone explain me what segwit will do?
In a language that I can understand

I prefer images, too ... https://bitcointalk.org/index.php?topic=1349965.msg13752212#msg13752212

[d_eddie]

Segwit clears out the mempool? Trust me, most people don't even know what mempool is. Anyway, we'll hit the new ATH soon, but then BTC will crash hard, because of Bitcoin Cash, you'll see, everything's getting ready for a takeover.

Bye bye.

[GHCoins45]

Can someone explain me what segwit will do? In a language that I can understand

Faster transactions, but less secure network, the real developers would never agree with segwit implementation. Segwit will lead to the new ATH but Bitcoin might possibly crash hard, because people will understand that segwit isn't the future and we need larger blocks, but developers backed by AXA BANK (Bitcoin Core; yes it's really a private bank) will refuse to implement "2x" part of segwit2x and the chain might fork yet again and people will run to Bitcoin Cash, which si ready to get mass adopted and is the real bitcoin Satoshi described in his whitepaper. It will be really easy for those who adopted Bitcoin to convert to Bitcoin Cash, so that's something I wouldn't really worry, we can forget about Bitcoin in a while and use the real bitcoin. Therefore, from now I would call the current bitcoin Bitcoin Legacy and buy a lot of BCH when it hits the low to at least hedge your funds, because it's possible that Bitcoin Legacy will really crash and Chinese miners will dump BTC and buy cheap BCH from morons like most of the people on this forum.

Whenever you find yourself on the side of the majority, it is time to pause and reflect.

Can someone explain me what segwit will do?
In a language that I can understand

I prefer images, too ... https://bitcointalk.org/index.php?topic=1349965.msg13752212#msg13752212

thank you!