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

[jojo69]

Dear Jbear

Please cite from the White Paper.  

god you guys

please don't

[Rosewater Foundation]

Dear Jbear

Please cite from the White Paper.  

god you guys

please don't

Playing pin the tail on the Satoshi should be restricted to birthday parties. 

[Rosewater Foundation]

Why Schnorr signatures will help solve 2 of Bitcoin’s biggest problems today

[strawbs]

CNBC's explanation for the bounce   

https://www.cnbc.com/2018/07/16/bitcoin-jumps-after-report-says-blackrock-exploring-cryptocurrencies.html

"The price of bitcoin surged Monday after a report said that BlackRock has set up a working group to explore ways of taking advantage of the cryptocurrency market.....The world’s most valuable virtual currency by market value jumped more than 4 percent."

Someone needs to tell CNBC that 4% is not a surge in bitcoinland, but a common daily fluctuation.

[jojo69]

the whole thing just makes me schnorr

[El duderino_]

Sometimes I like to wear a fancy newsboy head when I go out.... but mostly just wear a ball head.

Jtbc...I don't use this particular h.a.t (hair alternative treatment)
I wore it for like 5 minutes and my wife thankfully
clued me in to the fact that I looked like a dork tard.
Bedroom lampshade....

Haha Nice i have very much heads but almost never Where them ...... maybe now the bull and bear head ....
I actually don’t have any BTC clothing except a BTC christmas sweater for the dinner @my girlfriends family house
 

[jbreher]

Looking forward to some quality Schnorr FUD from Jbear and crew. 

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

[bitserve]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

P.S.: Here it is: https://bitcointalk.org/index.php?topic=178336.msg22571868#msg22571868

[jbreher]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

Hmm. I guess you know more about my past postings than do I. Link?

Schnorr can obviously reduce the size of txs that have multiple elements. I wouldn't say that is 'nothing'. If this be shown to be a reversal of a previously held opinion, then so be it.

Of course, my final opinion would be driven by an analysis of not merely the benefits of Schnorr, but also its costs.

edit: Oh - I see you've added the link. Thank you. I shall quote:

Currently it would take over 30 years to send each person on earth a single Bitcoin transaction. Think about that.

Lightning does nothing to alleviate that.
Segwit does nothing to alleviate that.
Schnorr sigs does nothing to alleviate that.

True enough. If you wish to send every person on earth a single Bitcoin tx (e.g., perhaps to open an LN channel), it will take on the order of three decades. And Schnorr indeed does nothing to alleviate that. It is a true statement, and it is not identical to "Schnorr signatures would do nothing to alleviate the scaling issue".

Your assertion is shown to be false.

[Wekkel]

25-30% efficiency improvement from Schnorr is not 'nothing', but also not earth shaking.

[yefi]

Looking good Bitcoin, looking good

[bitserve]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

Hmm. I guess you know more about my past postings than do I. Link?

Schnorr can obviously reduce the size of txs that have multiple elements. I wouldn't say that is 'nothing'. If this be shown to be a reversal of a previously held opinion, then so be it.

Of course, my final opinion would be driven by an analysis of not merely the benefits of Schnorr, but also its costs.

edit: Oh - I see you've added the link. Thank you. I shall quote:

Currently it would take over 30 years to send each person on earth a single Bitcoin transaction. Think about that.

Lightning does nothing to alleviate that.
Segwit does nothing to alleviate that.
Schnorr sigs does nothing to alleviate that.

True enough. If you wish to send every person on earth a single Bitcoin tx (e.g., perhaps to open an LN channel), it will take on the order of three decades. And Schnorr indeed does nothing to alleviate that. It is a true statement, and it is not identical to "Schnorr signatures would do nothing to alleviate the scaling issue".

Your assertion is shown to be false.

After re-reading your post I stand corrected on my interpretation and agree you were referring to a very extreme theoretical scenario where all the block space is used exclusively for opening channels for every person on earth.

I am glad to hear you agree that Schnorr signatures could have some impact on scaling improvement depending on circumstances.

[jbreher]

I believe Satoshi died with Dave and Hal.

Dave? Hal? WTF!?

[DaRude]

Looking forward to some quality Schnorr FUD from Jbear and crew.  

I don't know why you'd think that. I don't believe I have previously espoused an opinion on Schnorr sigs.

You basically said Schnorr signatures would do nothing to alleviate the scaling issue. That would qualify as an opinion.

Hmm. I guess you know more about my past postings than do I. Link?

Schnorr can obviously reduce the size of txs that have multiple elements. I wouldn't say that is 'nothing'. If this be shown to be a reversal of a previously held opinion, then so be it.

Of course, my final opinion would be driven by an analysis of not merely the benefits of Schnorr, but also its costs.

edit: Oh - I see you've added the link. Thank you. I shall quote:

Currently it would take over 30 years to send each person on earth a single Bitcoin transaction. Think about that.

Lightning does nothing to alleviate that.
Segwit does nothing to alleviate that.
Schnorr sigs does nothing to alleviate that.

True enough. If you wish to send every person on earth a single Bitcoin tx (e.g., perhaps to open an LN channel), it will take on the order of three decades. And Schnorr indeed does nothing to alleviate that. It is a true statement, and it is not identical to "Schnorr signatures would do nothing to alleviate the scaling issue".

Your assertion is shown to be false.

And if that each person wanted to make just 32 transactions to different people bcash would need 30yrs to process that. Think about that!

[Arching_wild]

[starmman]

CNBC's explanation for the bounce   

https://www.cnbc.com/2018/07/16/bitcoin-jumps-after-report-says-blackrock-exploring-cryptocurrencies.html

Thanks for sharing - was wondering where the increase came from =)

[bitcoinPsycho]

BTC to  $7000 in 2 days please

Just another $500 to go

make that $330.      C'mon bitcoin

[jbreher]

And if that each person wanted to make just 32 transactions to different people bcash would need 30yrs to process that. Think about that!

I have thought about that. Today, that is indeed the case. Or even maybe longer - as 32MB is the currently supported max, which is subject to miners' decisions to create blocks smaller than max.

Which is, of course, why there has been discussion within the BCH development community -- for as long as there has been a BCH -- on other orthogonal approaches to scaling.

So while true today, it will be false for some value of 'tomorrow'.

In the meantime, BCH is not suiciding itself for the sake of some illusory benefit of 'decentralization' along some axis that is entirely irrelevant.

[HairyMaclairy]

Why did the blonde schnorrt sweet n' low? She thought it was diet coke.

[Biodom]

yesterday's rant =>today's gain
however, i am not falling into
post hoc, ergo propter hoc fallacy

No, siree  .