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

[Monopoly]

I think BIP100 is very dangerous idea adding more risk to Bitcoin

What is BIp100 ? XT nodes ?

[aztecminer]

Hey guys how about that price...


oops, sorry...didn't mean to interrupt your block size debate

carry on

can't even connect to coinbase this morning.. wouldn't be able to trade even if i wanted too.

Me too .. what is happened ? ... Another mtgox is coming ? Another crashing ? Dead Bitcoin for ever ?

it looks like something crashed over there ..

[findftp]

If someone had told me two years ago that Blythe Masters would be pitching the blockchain on the cover of Bloomberg Markets, and the price would be below 250 USD, I would have recommended an antipsychotic.

All these banks and Blythe Masters coming out with there love for the blockchain is like them saying:

Look morons, we are finished shorting bitcoin with worthless fiat so that we were able to buckle up cheap coins.
Now it's time to rise again.

But since I'm a permabull I'm biased to see everything saturated in rainbow light.

[ChartBuddy]

Coin
Explanation

[Globb0]

All these banks and Blythe Masters coming out with there love for the blockchain

Its not "the blockchain" though

He said they like the blockchain idea/tech, why would they use a mega bloated one they have to pay to use? when they can make their own at a zero start point.

And why do they need miners? they can do it themselves with their own computers and networks.

Not convinced they are waiting to jump into a potential failing behemoth.

[ChartBuddy]

Coin
Explanation

[Fatman3001]

Hey guys how about that price...


oops, sorry...didn't mean to interrupt your block size debate

carry on

Flat

[noobtrader]

I think BIP100 is very dangerous idea adding more risk to Bitcoin

What is BIp100 ? XT nodes ?

XT nodes is BIP101 plus blacklisting capability

BIP100 is lesser evil

[hdbuck]

I think BIP100 is very dangerous idea adding more risk to Bitcoin

What is BIp100 ? XT nodes ?

XT nodes is BIP101 plus blacklisting capability

BIP100 is lesser evil

is it noobtrader or just noob?

[Blazin8888]

http://bravenewcoin.com/news/turbocharged-demonstrates-crypto-currency-in-gaming/

I wonder how this will effect the price of BTC if done right....I think it could bring many new people on board to the Bitcoin world!

[ChartBuddy]

Coin
Explanation

[a7mos]

For the last few days the price sounds stable between 225 and 230

[findftp]

All these banks and Blythe Masters coming out with there love for the blockchain

Its not "the blockchain" though

He said they like the blockchain idea/tech, why would they use a mega bloated one they have to pay to use?

Because it is the most secure chain out there.

.. when they can make their own at a zero start point.
And why do they need miners? they can do it themselves with their own computers and networks.

That technology was already invented ages ago and is called MySQL. They are already using it.

[qwk]

.. when they can make their own at a zero start point.
And why do they need miners? they can do it themselves with their own computers and networks.

That technology was already invented ages ago and is called MySQL. They are already using it.

<nitpick>DBMS, not MySQL (one implementation of an RDBMS "speaking" SQL which was programmed when DBMS were already decades old)</nitpick>

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

The whole block size/fork war is basically about scalability vs. anonymity. Larger block sizes make it harder or even impossible to mine over TOR. (TOR is slow because the signal bounces around through an onion router) At the extreme, XT could be used to blacklist TOR nodes (if every single XT user chose to keep the feature enabled). Highly improbable but possible.

But even vanilla BIP101 would make mining over TOR increasingly competitively disadvantageous.  What will likely happen is that miners who insist on anonymity will end up mining altcoins, trading alts for bitcoin and then transacting with btc. 

That may be a pain, but it will end up happening anyway regardless of block size.
I don't think anonymous bitcoin mining will be possible for long. Mining benefits from economies of scale. Larger mines are harder to keep secret. At some difficulty level, mining anonymously becomes less practical than buying anonymously.

Cripplecoiners want to sacrifice scalability in a FUTILE effort to preserve mining anonymity.  Just mine alts and trade them, Cripplecoiners.  Nobody is buying your arguments that you are protecting the block chain from code bloat and centralization.

[findftp]

The whole block size/fork war is basically about scalability vs. anonymity.

One big psyop to bring fear to the markets.
It's working. Cheap coins.

[billyjoeallen]

The whole block size/fork war is basically about scalability vs. anonymity.

One big psyop to bring fear to the markets.
It's working. Cheap coins.

I don't think so. We are rapidly approaching the transaction limits of the network.  It will take a lot of work to patch the code with a hard fork before that happens. What will happen if consensus is not reached is that the network will bog down, transactions will not get confirmed for hours, days or even weeks, the market will crash and then we'll either fix the code with a real solution or more likely a small (2 to 8 MB) patch that kicks the can for a while and then we do the whole thing all over again later.

That would be a great time for someone to introduce WallStreetCoin and relegate us to being the myspace of crypto.

The market is reacting to real uncertainty.  

[ChartBuddy]

Coin
Explanation

[AlexGR]

Cripplecoiners want to sacrifice scalability in a FUTILE effort to preserve mining anonymity.  Just mine alts and trade them, Cripplecoiners.  Nobody is buying your arguments that you are protecting the block chain from code bloat and centralization.

Apparently Satoshi was also a cripplecoiner for accepting the 1MB limit in light of the potential bloat attack vector...

Thing is, since it has been implemented, a solution has not been found regarding this issue. Lifting the cap simply negates the economic and technical disincentives to make Bitcoin XT => DOA, due to bloat.