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

[gentlemand]

I woke up to see the mess in https://www.reddit.com/r/Bitcoin/. I agree with Gavin and Mike, let the community decide.

I hope a few people who've grown complacent have their fat arses handed to them.

[Meuh6879]

Pro-fork here too. It's time to reorganize the dev power.
Over 4.5% of all nodes have allready upgraded to XT in support.

5.1% : https://getaddr.bitnodes.io/dashboard/

[cyclotronmajesty]

So is everyone supposed to sell their coins and then repurchase them on Bitcoin XT?
And where do you go to buy Bitcoin XT coins?

Just on the contrary! If you buy bitcoins now will give the opportunity to spend same coins twice both on Bitcoin and XT networks in future if there is a split at all. So, if you buy 1 bitcoin now you actually buy 2 bitcoins if XT altcoin succeeds in being true alternative to bitcoin!

I don't think this is correct.

[ChartBuddy]

Coin
Explanation

[Jdj1727]

Is the dropping price a reflection of the fork issue, the supposed Satoshi email, all the ETH profits cashing out, or maybe a mixture of the three?

[redsn0w]

Is the dropping price a reflection of the fork issue, the supposed Satoshi email, all the ETH profits cashing out, or maybe a mixture of the three?

It's not an issue... it is like : more competition = a better service.  Sooner or later the block size should be increased. The speculation can't do nothing in this case....

[only]

... kind of sad seeing some of the herd get spooked into the banksters XT fork trap but Hearn has been a divisive sociopath from the day he showed up, so expelling him might be the upside to the inevitable costs of the mess him and Andresen are now intent on creating

amen.

[Erdogan]

Is the dropping price a reflection of the fork issue, the supposed Satoshi email, all the ETH profits cashing out, or maybe a mixture of the three?

Haha. Some block micromanist forked from a block just prior to 500 kB, now covertly trotting on with his FPGA miner... sold 5k coins from his suspected to be XT altcoin supply for microcoins true to sathoshi bitcoins. Must be an Elder Whale squared.

[ChartBuddy]

Coin
Explanation

[LFC_Bitcoin]

Disappointing that we've dropped below 260 USD. I can't see any reason for it other than people selling because they're worried about this potential fork. I don't trust Hearn one bit & it's pissing me off that one man & his little scheme seems to be having an effect on the price.

[Erdogan]

Disappointing that we've dropped below 260 USD. I can't see any reason for it other than people selling because they're worried about this potential fork. I don't trust Hearn one bit & it's pissing me off that one man & his little scheme seems to be having an effect on the price.

Yes but we love antifragility, which can only be learned the hard way.

[fonsie]

Disappointing that we've dropped below 260 USD. I can't see any reason for it other than people selling because they're worried about this potential fork. I don't trust Hearn one bit & it's pissing me off that one man & his little scheme seems to be having an effect on the price.

The beauty is that you don't need to trust him, just look at the code, if you like it switch to XT, if not do nothing. If the fork actually happens, it would have seem that more people liked his proposal the most.

If consensus can't be reached amongst devs, this is a perfect solution to let people decide.

[redsn0w]

Disappointing that we've dropped below 260 USD. I can't see any reason for it other than people selling because they're worried about this potential fork. I don't trust Hearn one bit & it's pissing me off that one man & his little scheme seems to be having an effect on the price.

The beauty is that you don't need to trust him, just look at the code, if you like it switch to XT, if not do nothing. If the fork actually happens, it would have seem that more people liked his proposal the most.

If consensus can't be reached amongst devs, this is a perfect solution to let people decide.

It is obvious that it is impossible to reach a consensus of 100% , the remaining part will join or abandon btc.

[ImI]

I woke up to see the mess in https://www.reddit.com/r/Bitcoin/. I agree with Gavin and Mike, let the community decide.

How? In the end its just the handful of pools who will decide.

[Erdogan]

We have actually not seen any total node count increase.

If you have a half decent machine, and a half decent link, you can do it. Just download the binaries, unpack and run. No configuration.

If your machine is ticklish, you might hear the fans enjoy themselves every time a new block is found. After a while, check the number of connections. If it is only 8, you might consider doing some configuration work on your home router.

Extra bonus: It runs ipv6 out of the box. You can brag about it.

[ChartBuddy]

Coin
Explanation

[redsn0w]

I woke up to see the mess in https://www.reddit.com/r/Bitcoin/. I agree with Gavin and Mike, let the community decide.

How? In the end its just the handful of pools who will decide.

Without  x BitcoinXT nodes I think their choice is 'useful',  who is who is broadcasting the TX through the network?

*x , number.

[inca]

Single dump on finex again. Price recovered. Exciting fork drama. I will install XT next week.

Shorts now up to 14k. Nearly time for a surprise jump up to retest 300 again..

[AlexGR]

Can somebody explain this to me like I'm a 5 year old:

XT is supposed to make bitcoin futureproof, but how is it going to achieve that, when it can be spammed up to ~1.15gb / day, meaning that it'll take just 100 days for a determined attacker to increase the blockchain to +115gb, and around a year to take it up half a terabyte. Is this "futureproofing" or ensuring that the future of bitcoin is one where it dies out of bloat and where no-one wants to download it?

Increasing the fees within the 1mb limit is a far more acceptable strategy. If that means bitcoin not doing microtransactions (at least in the traditional / on-chain way), so be it. Gold coins weren't used for microtransactions either, they had silver and copper coins for that.

[rjclarke2000]

Can somebody explain this to me like I'm a 5 year old:

XT is supposed to make bitcoin futureproof, but how is it going to achieve that, when it can be spammed up to ~1.15gb / day, meaning that it'll take just 100 days for a determined attacker to increase the blockchain to +115gb, and around a year to take it up half a terabyte. Is this "futureproofing" or ensuring that the future of bitcoin is one where it dies out of bloat and where no-one wants to download it?

Increasing the fees within the 1mb limit is a far more acceptable strategy. If that means bitcoin not doing microtransactions (at least in the traditional / on-chain way), so be it. Gold coins weren't used for microtransactions either, they had silver and copper coins for that.

I am glad you have asked. Although I think I may need more of a 2 year old explanation with colourful pictures