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

[ChartBuddy]

Coin



Explanation

[coins101]

wut ? we gotta do wut "blockchain blacklists" ? ok everyone all chant at same time: "china must go" "we want blockchain blacklists"!  .... follow up with a give me a "WOOT WOOT" .

Clearly their influence is making Bitcoin too inscrutable. Possibly even more dangerous than centralization.

yes.. the evil chinese miners and their evil Huobi must GO! there is no choice, the evil chinese has forced us to implement "blockchain blacklists" . we're putting chinese miners on no-fly lists too.

By the sound of it increasing blocks will invoke the great fire wall of China and btc will become more decentralised almost overnight.

It's like asking turkeys to vote for Christmas

the chinese panics were fun, but u guys really have taken this racism thing to new levels that i can't condone. .. i just cannot hate people just cuz they mine bitcoins. #sorrycharlie

Nothing to do with race, everything to do with centralised mining because of subsidised electricity

[coins101]

An Open Letter from Sam Cole (CEO of KNC Miner)
Post reputation: 4 Quote
Fri Jan 15, 2016 4:49 pm

Sam Cole, CEO of KNC wrote:
All.


Maybe e-mail is not the best place to do this, but there aren’t many better choices that come to mind right now. Please feel free to quote me and forward this to anyone you see fit. You may even Post it on Reddit or other forums or simply ignore it.

To anyone reading this who was not on the original To: list. It simply means that you were not at the top of my inbox and nothing else. no one has been excluded on purpose at all.


We are clearly facing a crises like we have never faced before in the bitcoin echo-system. It appears to be completely caused by humans this time. It should be seen as a success issue, even if it’s not a nice problem to have.

Bitcoin is, as I hope you all agree, still very very small on the size of global acceptance. We have a long way to go before it actually realizes its true potential. I personally believe that bitcoin can become a great system for many things in the future. We may all have different ideas on where Bitcoin is going but I don’t believe for one second that anyone here will want it to stop and stay exactly where it is.

The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.

We have on-boarded about as many users as we can. There simply is no space left to expand bitcoin. There are many competing ideas there are many smart people and possibly to many ideas. The fact remains the same:
Most of the latest development ideas coming out are not addressing our issues this time. So it will fall back on us to protect what we have built and let it expand into what we think it can become.

So I propose that we jump to 2mb in the Bitcoin classic idea. Not only will this allow us to expand bitcoin and on board more users, it will also show that:

· We will protect our investments and businesses.
· Sound economic rules govern bitcoin businesses and not just ideological ideas.
· Under pressure we can make tough decisions that are for the best of bitcoin and not for any one individual company.
· The ideas and fixes the development team produce need to be more influenced by the economic requirements we have, not just the technical ones.

Now for the other maybe good maybe bad things

· It will cause more rifts in the development teams.
· It will cause us all to go through the pain of a hard fork.

The lists above are not meant to be extensive or exhaustive and there are many that can be added to either side, but the main point is this: It’s no longer really a choice to simply stand still and wait for others to fix this problem.

I propose that we all simply stand up and stand behind bitcoin. Allow it to grow more in the simplest way possible, and I can’t emphasize enough how important simple is to this process. Humans are making this complex we don’t need technology to make it more complex.

So with the above said: We will be changing our code to run 2mb bitcoin classic ASAP, please join me in changing your code to run the same or public show your support.


Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
KnC
http://www.kncgroup.com

https://forum.bitcoin.com/bitcoin-discussion/an-open-letter-from-sam-cole-ceo-of-knc-miner-t4868.html

https://www.reddit.com/r/btc/comments/413mhn/an_open_letter_from_sam_cole_ceo_of_knc_miner/

This

[ImI]

wut ? we gotta do wut "blockchain blacklists" ? ok everyone all chant at same time: "china must go" "we want blockchain blacklists"!  .... follow up with a give me a "WOOT WOOT" .

Clearly their influence is making Bitcoin too inscrutable. Possibly even more dangerous than centralization.

yes.. the evil chinese miners and their evil Huobi must GO! there is no choice, the evil chinese has forced us to implement "blockchain blacklists" . we're putting chinese miners on no-fly lists too.

By the sound of it increasing blocks will invoke the great fire wall of China and btc will become more decentralised almost overnight.

It's like asking turkeys to vote for Christmas

the funny thing is chinese miners are not against bigger blocks, thats just some bullshit that hearn pulled out of his ass. the only thing chinese miners really fear is the price of bitcoin collapsing because of some kiddy-nerd-developer fights of immature folks. so they said at the last scaling bitcoin conference do what ever you have to do but do it without a big breakup or fight or whatever. they even are in favor of 2MB but they want the core team to do it without big fights and media stir.

[Richy_T]

How is increasing to 2mb as bad as increasing supply past 21m?

It is called a instigating a "precedent": if you can manage it for one protocol parameter, you can do it for everything else.

Of course you could do it for anything else. Including all transaction being diverted to a single address. The question is about the will and incentives to do it and always will be.

[coins101]

How is increasing to 2mb as bad as increasing supply past 21m?

Is that a serious question?

[Richy_T]

Here's another nice one. It's how many times bigger than the transaction volume the block size limit is. I had to adjust the axis to make the recent detail visible as on the day that Satoshi implemented it, it was 710.



Does quite well as a logarithmic plot.




If anyone wants this data as a CSV or something, PM me cause it takes a while to extract from the blockchain.

Threw it up quickly here for anyone who doesn't want to wait

http://pastebin.com/NUbMdQ7t

[Fatman3001]

How is increasing to 2mb as bad as increasing supply past 21m?

It is called a instigating a "precedent": if you can manage it for one protocol parameter, you can do it for everything else.

I honestly didn't think you could get any dumber.

I'm too generous.

[Fatman3001]

We are clearly facing a crises like we have never faced before in the bitcoin echo-system.

I don't know if it was a typo, but it definitely ... resonates ... with me(giggle, giggle).

This is an important step. Who's next? [Edit: This is who: https://bitcointalk.org/index.php?topic=178336.msg13564698#msg13564698 Phew, that was fast!]

Disclaimer: Sam Cole is, quite paradoxically, a PoS.

[Dotto]

Chain wars

Stream-blockers

Fullblokalypse

Cheapo coins.

When BTC get over 600, Mr Hearn is going to be so laughable. Think on it.

Popokorns!

[becoin]

An Open Letter from Sam Cole (CEO of KNC Miner)
Post reputation: 4 Quote
Fri Jan 15, 2016 4:49 pm

Sam Cole, CEO of KNC wrote:
All.

...
The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.
...

Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
KnC

... To put it in plane language...
I don't know what has to be done, but I feel something has to be done. So, let us do what we can do, ruin bitcoin by granting free space to every spammer on the blockchain.

[Dotto]

Coin



Explanation

Error: Block 108% full

[WeltMaster]

Thread Theme:

https://www.youtube.com/watch?v=bUFWXpYJKaI

[ChartBuddy]

Coin



Explanation

[tomothy]

How is increasing to 2mb as bad as increasing supply past 21m?

Is that a serious question?

Yeah, sorry, I might have been tricked lol. I was having issues seeing how the two could be remotely the same and I think it's what they call a strawman argument? I mean I recognize there is a contingent that wants small blocks but I'd rather see larger blocks, increasing price, and have people use alts for more nefarious activity /shrug. I mean... it is an OPEN LEDGER... lol

[AlexGR]

An Open Letter from Sam Cole (CEO of KNC Miner)
Post reputation: 4 Quote
Fri Jan 15, 2016 4:49 pm

Sam Cole, CEO of KNC wrote:
All.

...
The issue is by doing nothing we are actually forcing it to stop growing and stay where it is.
...

Thanks,
Sam

Med vänlig hälsning | Best regards
Sam Cole
KnC

... To put it in plane language...
I don't know what has to be done, but I feel something has to be done. So, let us do what we can do, ruin bitcoin by granting free space to every spammer on the blockchain.

+ the fact that there is no expansion space is a bullshit argument. Blocks are at ~600kb (including dust and spam), not 1mb. It has +50% capacity to reach 900kb - with 100kb to spare. If some blocks are full, so be it...

+ there are two dimensions in growth, one being the money volume the other being tx count. Money volume will continue to increase and scale even with a steady tx count as very low value txs give their place to higher value txs in a "crowded" scenario.

[sAt0sHiFanClub]

+ the fact that there is no expansion space is a bullshit argument. Blocks are at ~600kb (including dust and spam), not 1mb. It has +50% capacity to reach 900kb - with 100kb to spare. If some blocks are full, so be it...

+ there are two dimensions in growth, one being the money volume the other being tx count. Money volume will continue to increase and scale even with a steady tx count as very low value txs give their place to higher value txs in a "crowded" scenario.

Meh, whatever. Its probably just academic now:

Bitfury on board for Classic

Even brg444 has tweeted his disapproval. Or disappointment. Or butthurt.

[fisheater22]

... To put it in plane language...

+ there are two dimensions in growth

TL;DR.

[Fatman3001]

+ there are two dimensions in growth, one being the money volume the other being tx count. Money volume will continue to increase and scale even with a steady tx count as very low value txs give their place to higher value txs in a "crowded" scenario.

While it is true that the tracks don't suffer from as much wear when it's upside down, there are other issues with this way of thinking.

[23who23]

350

almost there