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

[ChartBuddy]

Coin


Explanation

[sAt0sHiFanClub]

I've already answered that: hashpower (slight majority to strong majority)

This is in question as the miners are making political nods to both sides : Core and Classic.

Indeed, but if it turns out that only 2% make a nod to Core, then that is an important detail.

Additionally, this information along with Bitfury's article that strongly rejects all of classics principles lead me to doubt the sincerity of those commitments.

Bitfurys article strongly rejects XT principles. Not Classic.  XT != Classic.

Read it again, and the underlying tone is that they prefer development to be more open.

[BitUsher]

What percentage of the mining pool is represented by "Haobtc, OKCoin, Bitmain, Bither, LIGHTNINGASIC" ? 

The context was Chinese mining pools. With the list above and F2Pool which already made a deal with core a couple days ago(evidence provided earlier)... I see BTCC and BW mining missing which is ~20% global hash rate or around 2/3rds of Chinese mining pools  indicating they are sticking with core(If we are to believe the sources) and the remaining Chinese pools having an unknown position.

[petahashminer]

total hashrate has increased 20% in the last 4 days, i think this is a good sign of organic growth too.

[aztecminer]

Blocks are full. Let's see what happens.

https://www.reddit.com/r/btc/comments/41whvw/maximum_of_transactions_second_that_bitcoin_can/cz5v60m

It's the FULLBLOCALYPSE_TM

I think I'm done arguing. It just has to play out now.

(I was actually going to use that word but couldn't remember it exactly.)

big blocker capitulation is close ... they have no logical ground to stand on and the whole edifice is crumbling, Crassic was just the Hearn echo swansong

You don't seem to understand. Bigblockers will win if we crash the price far enough to persuade the miners to switch. If we fail in that, it's because the price is going up and they have no reason to listen to us. (if it ain't broke, don't fix it). So it's simple. Just keep pumping until we go away. That's how you'll get us to capitulate.

at this stage they can't drop bitcoin.. cuz if they do all the people who sold 300-320 will buy back .. hearn couldn't even get it to drop ... if u want to be in the bitcoin game then u gonna have to risk and buy >350. .. although bitfinex has continued weakness that suggest they are in very weak position. i doubt they can blow through a bitfinex collapse like they did cryptsy .

[aztecminer]

You don't seem to understand. Bigblockers will win if we crash the price far enough to persuade the miners to switch. If we fail in that, it's because the price is going up and they have no reason to listen to us. (if it ain't broke, don't fix it). So it's simple. Just keep pumping until we go away. That's how you'll get us to capitulate.

Did you miss the bit when it's been tried & failed a number of times now?

Yeah, well we'll see what happens when xaction fees triple and then triple again. 

well that will kill bitcoin as a currency. it doesn't cost me fees to use my debit card... sorry miners.. i feel for ya though..

[aztecminer]

Blocks are full. Let's see what happens.

https://www.reddit.com/r/btc/comments/41whvw/maximum_of_transactions_second_that_bitcoin_can/cz5v60m

It's the FULLBLOCALYPSE_TM

I think I'm done arguing. It just has to play out now.

(I was actually going to use that word but couldn't remember it exactly.)

big blocker capitulation is close ... they have no logical ground to stand on and the whole edifice is crumbling, Crassic was just the Hearn echo swansong

You don't seem to understand. Bigblockers will win if we crash the price far enough to persuade the miners to switch. If we fail in that, it's because the price is going up and they have no reason to listen to us. (if it ain't broke, don't fix it). So it's simple. Just keep pumping until we go away. That's how you'll get us to capitulate.

This is stupid thinking, and probably similar to Mike Hearn's raging tantrum.  Let's just try to destroy things until others listen and we get our way...  

Makes a lot of sense.





NOT.


Only makes sense if you are childish and unable to attempt to work with others by appeals to reason and fairplay.



On the other hand, why don't you get all your supposed  coins out of cold storage and lead the way to dumping them all?  Except you likely only have less than a couple hundred coins, so won't have too much of an effect anyhow.

ya only need to be in the ten bitcoins club right

[aztecminer]

price will rise before it rises higher.


can't you see it happening?

420 is just the beginning

what will be price of bitcoin if usd were replaced with another currency ??

[sAt0sHiFanClub]

What percentage of the mining pool is represented by "Haobtc, OKCoin, Bitmain, Bither, LIGHTNINGASIC" ? 

The context was Chinese mining pools. With the list above and F2Pool which already made a deal with core a couple days ago(evidence provided earlier)... I see BTCC and BW mining missing which is ~20% global hash rate or around 2/3rds of Chinese mining pools  indicating they are sticking with core(If we are to believe the sources) and the remaining Chinese pools having an unknown position.

F2P deal with Core? You mean 2Mb in April 2017?  Do you know what they actually meant when they said that, knowing that Classic was going ahead in a timeframe a fraction of that?

When I read a statement from them to that effect, I will believe it. But lets leave them nuetral for now, shall we?

So what percentage of mining was represented by the list mentioned in that tweet? Are you saying that the list represents "around 2/3rds of Chinese mining pools  indicating they are sticking with core"? Sorry for being dense, but I want to be clear.

[aztecminer]

You don't seem to understand. Bigblockers will win if we crash the price far enough to persuade the miners to switch. If we fail in that, it's because the price is going up and they have no reason to listen to us. (if it ain't broke, don't fix it). So it's simple. Just keep pumping until we go away. That's how you'll get us to capitulate.

Did you miss the bit when it's been tried & failed a number of times now?

Yeah, well we'll see what happens when xaction fees triple and then triple again.  

We can all hop on PBoCCoin?

What do you think we have now? Nothing happens with the 70% of hashpower that's in China that the PBoC doesn't let happen.  They could take over our whole network with a few phone calls. These giant mines exist and operate only because the Communist Party backed by the People's Army lets them.

Hell, my trading account is in Hong Kong and is also under the ChiCom's thumb. This isn't what we had in mind when we bought into a distributed trustless payment system.

can use ripple to buy PBoCCoin ... i think ripple has useful applications... especially as a a transport to someplace like singapore where u can have iou's pms held in a vault against your ripple address there.... can't do that with bitcoin that i am aware of.

[aztecminer]

price will rise before it rises higher.


can't you see it happening?

420 is just the beginning

so whats the target price for February ? 500 600

i think is stuck range 400 - 500 ... bitcoin is selling the halving .

[BitUsher]

So what percentage of mining was represented by the list mentioned in that tweet? Are you saying that the list represents "around 2/3rds of Chinese mining pools  indicating they are sticking with core"? Sorry for being dense, but I want to be clear.

--------------Disclaimer ... This is the speculation thread, therefore any nods of approval miners are making to both core and classic don't hold much weight, any tacit support that classic has on their homepage doesn't hold much weight, any rumors could be untrue and have to individually be weighed, any decisions companies make can be changed at the last moment. The only vote that truley counts is when the economic majority and miners start switching over code and validating tx's and mining blocks with one implementation or another.

I was quite clear with my statement and will not leave Wang chun and F2Pool as neutral because I am familiar with the wider context and how he prefers to stick with core and already negotiated a deal for maxBlockSize to increase in 2017. Additionally, he believes that a 75% threshold is dangerous and believes all hardforks should be set to 95%.

[madmat]

price will rise before it rises higher.


can't you see it happening?

420 is just the beginning

so whats the target price for February ? 500 600

i think is stuck range 400 - 500 ... bitcoin is selling the halving .

Price is stuck below 500 untill the hard fork.

[aztecminer]

http://www.forexfactory.com/news.php?do=news&id=575226

Here we go

https://www.cryptocoinsnews.com/china-digital-currency/

marshal pump let the cat out the bag .. now china wants one too!

[BitUsher]

Bitfurys article strongly rejects XT principles. Not Classic.  XT != Classic.

Read it again, and the underlying tone is that they prefer development to be more open.

You must have skipped to the end of the article instead of reading the whole thing. Additionally , most of us want development to be more open. Stop creating false wedge issues where none exist ... we agree on this! Lets support Libbitcoinconsensus!

 https://medium.com/@BitFuryGroup/keep-calm-and-bitcoin-on-4f29d581276#.lsa4ml1p6

Bitcoin Is Not an Electronic Payments System Like PayPal
You simply need an additional system operating on top of the Bitcoin Blockchain (with the Blockchain acting as a settlement layer)

Do we hear XT/BU/Classic proponents stressing the importance for tx to be spent on payment channels or on the main chain? From what I hear the sentiment is high volume on the main chain to directly pay the miners instead of a settlement system like Bitfury and core propose.

As the Bitcoin network continues to evolve, transaction fees need to grow in order to maintain a high level of security within and for the network.As BitFury has outlined in our white paper on Bitcoin security incentives, the transaction fee market is currently actively developing....
Overlay networks, such as Lightning and sidechains, can successfully deal with this challenge while in-service ledgers already do.

Do we hear XT/BU/Classic proponents stressing the importance for tx fees be raised and a fee market being created? Notice how he stresses the cheap tx's will be on the sidechains and payment channels like LN , and not on the main chain like being proposed by XT/BU/Classic proponents .

Bitcoin Transaction Processing Is Not Presently Clogged

Do we here this clarification from XT/BU/Classic proponents, or from Core proponents?

As the Scaling Bitcoin conferences have shown, miners are generally in support of cautious increases of the block size limit — just not abrupt increases — because such sudden change could undermine the foundation of the Bitcoin network.

Could that Abrupt increase be referring to a hard fork?

Mass Rule is Not Appropriate for Bitcoin

The pipe dream of some in the Bitcoin community is to govern the system by having ordinary users vote for changes by adopting the corresponding full node software. This approach is not only impractical, it is also not desirable.

This directly refutes the Bitcoin Classic And Bitcoin Unlimited governance model.

[ImI]

What percentage of the mining pool is represented by "Haobtc, OKCoin, Bitmain, Bither, LIGHTNINGASIC" ? 

The context was Chinese mining pools. With the list above and F2Pool which already made a deal with core a couple days ago(evidence provided earlier)... I see BTCC and BW mining missing which is ~20% global hash rate or around 2/3rds of Chinese mining pools  indicating they are sticking with core(If we are to believe the sources) and the remaining Chinese pools having an unknown position.

F2P deal with Core? You mean 2Mb in April 2017?  Do you know what they actually meant when they said that, knowing that Classic was going ahead in a timeframe a fraction of that?

better start reading the whole fckn conversation. wang clearly states that he is in favor of 3months before any softfork and he wants at least one year before any hardfork. that pretty much puts classic to the grave.

[ChartBuddy]

Coin


Explanation

[cbeast]

Now is an opportunity to take advantage of China's inertia. Fork them.

[aztecminer]

WOW. The rage quit was a ploy by big banking to fuck Bitcoin right in the pussy.

https://youtu.be/aH-pmiW4tqM

those guys dont know about the marshal's pump .

[Fatman3001]

What percentage of the mining pool is represented by "Haobtc, OKCoin, Bitmain, Bither, LIGHTNINGASIC" ? 

The context was Chinese mining pools. With the list above and F2Pool which already made a deal with core a couple days ago(evidence provided earlier)... I see BTCC and BW mining missing which is ~20% global hash rate or around 2/3rds of Chinese mining pools  indicating they are sticking with core(If we are to believe the sources) and the remaining Chinese pools having an unknown position.

F2P deal with Core? You mean 2Mb in April 2017?  Do you know what they actually meant when they said that, knowing that Classic was going ahead in a timeframe a fraction of that?

better start reading the whole fckn conversation. wang clearly states that he is in favor of 3months before any softfork and he wants at least one year before any hardfork. that pretty much puts classic to the grave.

Your conclusion might be a bit premature. Bitfury is about to roll out its latest chips. If P2Pool's share decreases, along with the smaller ones, Bitcoin Classic might have +80% by the end of February.

Now, if we could get a confirmation of the defection rumours all of this is moot of course.