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

[majamalu]

every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.

Blockstream is moving rapidly on segwit, sidechains, and Lightning.  They are meticulously preparing Bitcoin to be carefully scaled ASAP.

Classic, OTOH, is spreading '2MB? Not much testing needed' nonsense.

And yes, we will "go to war" to defend Bitcoin's diverse/diffuse/defensible/resilient characteristics, from which its key interesting property of antifragility emerges.

Whine about it all you want.  Nothing you do can move our Honey Badger's needle one iota.  You have no power here.

I still have doubts regarding sidechains security:
https://www.reddit.com/r/Bitcoin/comments/3vg06a/official_release_rootstock_white_paper/cxnfe6n

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

WHat you think?

If he was able to think, he would not be the good old iCE.

Classic is coming, like it or not. The alternative is to go down with a ship full of corecoins or popescucoins.

[ChartBuddy]

Coin



Explanation

[hdbuck]

every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.

Blockstream is moving rapidly on segwit, sidechains, and Lightning.  They are meticulously preparing Bitcoin to be carefully scaled ASAP.

Classic, OTOH, is spreading '2MB? Not much testing needed' nonsense.

And yes, we will "go to war" to defend Bitcoin's diverse/diffuse/defensible/resilient characteristics, from which its key interesting property of antifragility emerges.

Whine about it all you want.  Nothing you do can move our Honey Badger's needle one iota.  You have no power here.

I still have doubts regarding sidechains security:
https://www.reddit.com/r/Bitcoin/comments/3vg06a/official_release_rootstock_white_paper/cxnfe6n

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

WHat you think?

If he was able to think, he would not be the good old iCE.

Classic is coming, like it or not. The alternative is to go down with a ship full of corecoins or popescucoins.

As you clearly you lost any ability to think, it would still be appreciated that you mind your manners and do not answer a question that is not being asked to you.

[iCEBREAKER]

every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.

Blockstream is moving rapidly on segwit, sidechains, and Lightning.  They are meticulously preparing Bitcoin to be carefully scaled ASAP.

Classic, OTOH, is spreading '2MB? Not much testing needed' nonsense.

And yes, we will "go to war" to defend Bitcoin's diverse/diffuse/defensible/resilient characteristics, from which its key interesting property of antifragility emerges.

Whine about it all you want.  Nothing you do can move our Honey Badger's needle one iota.  You have no power here.

I still have doubts regarding sidechains security:
https://www.reddit.com/r/Bitcoin/comments/3vg06a/official_release_rootstock_white_paper/cxnfe6n

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

WHat you think?

Sigs aren't being excised from the Holy Ledger, merely segregated from tx.

That makes the Holy Leger more secure by patching up some outstanding maintenance issues.  The tps bump is just a nice side effect.

I trust the BIP process will work out any bugs with segwit and sidechains.  So far, so good.   

[smooth]

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

It does no such thing. Every node that receives a block will receive the segwit data as well, with the exception (eventually) of new pruned nodes that are syncing below a checkpoint and would ignore the signatures anyway. The segwit data is referenced by a hash committed to the block and can't be changed, making it part of the ledger for all practical purposes.

[hdbuck]

every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.

Blockstream is moving rapidly on segwit, sidechains, and Lightning.  They are meticulously preparing Bitcoin to be carefully scaled ASAP.

Classic, OTOH, is spreading '2MB? Not much testing needed' nonsense.

And yes, we will "go to war" to defend Bitcoin's diverse/diffuse/defensible/resilient characteristics, from which its key interesting property of antifragility emerges.

Whine about it all you want.  Nothing you do can move our Honey Badger's needle one iota.  You have no power here.

I still have doubts regarding sidechains security:
https://www.reddit.com/r/Bitcoin/comments/3vg06a/official_release_rootstock_white_paper/cxnfe6n

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

WHat you think?

Sigs aren't being excised from the Holy Ledger, merely segregated from tx.

That makes the Holy Leger more secure by patching up some outstanding maintenance issues.  The tps bump is just a nice side effect.

I trust the BIP process will work out any bugs with segwit and sidechains.  So far, so good.  

Eh, to me they are introducing further points of failure and security breach (centralization, 3rd parties, etc...) whilst over-complexifying Bitcoin's code.

I'd rather have efficient (transparent?) off chain solutions to scaling as it will necessarily lead to centralization.

I just don't like my money being forked to please the social media and their mass adoption coffee cups urges.


"Wouldn't it be extremely inefficient to copy every single coffee purchase on everyone's computer?"
https://www.reddit.com/r/Bitcoin/comments/42tcqm/eli5_wouldnt_it_be_extremely_inefficient_to_copy/

[bitcoinboy12]

every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.

Blockstream is moving rapidly on segwit, sidechains, and Lightning.  They are meticulously preparing Bitcoin to be carefully scaled ASAP.

Classic, OTOH, is spreading '2MB? Not much testing needed' nonsense.

And yes, we will "go to war" to defend Bitcoin's diverse/diffuse/defensible/resilient characteristics, from which its key interesting property of antifragility emerges.

Whine about it all you want.  Nothing you do can move our Honey Badger's needle one iota.  You have no power here.

I still have doubts regarding sidechains security:
https://www.reddit.com/r/Bitcoin/comments/3vg06a/official_release_rootstock_white_paper/cxnfe6n

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

WHat you think?

If he was able to think, he would not be the good old iCE.

Classic is coming, like it or not. The alternative is to go down with a ship full of corecoins or popescucoins.

As you clearly you lost any ability to think, it would still be appreciated that you mind your manners and do not answer a question that is not being asked to you.

It'll still go up but I can't say that it will be a smooth ride upwards as we head to halving. There's a lot of possible things that could happen and don't forget the rich who controls the exchanges by putting/withdrawing millions of dollars only to benefit them at the end.

[ChartBuddy]

Coin



Explanation

[mymenace]

Do people have insider information on Eth? --

no inside info, all in plain sight

http://coinjournal.net/prediction-10-billion-will-be-invested-in-blockchain-startups-in-2016/

“It’s already started. I mean, my estimate is that we’re going to see $1 billion come into the Ethereum ecosystem in 2016 alone, and the general estimates for the amount of money going into the entire blockchain ecosystem, including Bitcoin, is on the order of $10 billion.”  - Vinay Gupta (original CypherPunk member)

from what i understand huge consortium of financial institutions invested in R3 (Mike Hearn) using the ethereum programming

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044


some other financial institutions are using the legacy open source linux hyperledger

ASX is testing this at the moment

bit hard to ignore other blockchains

[iCEBREAKER]

I still have doubts regarding sidechains security:
https://www.reddit.com/r/Bitcoin/comments/3vg06a/official_release_rootstock_white_paper/cxnfe6n

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

WHat you think?

Sigs aren't being excised from the Holy Ledger, merely segregated from tx.

That makes the Holy Leger more secure by patching up some outstanding maintenance issues.  The tps bump is just a nice side effect.

I trust the BIP process will work out any bugs with segwit and sidechains.  So far, so good.  

Eh, to me they are introducing further points of failure and security breach (centralization, 3rd parties, etc...) whilst over-complexifying Bitcoin's code.

I'd rather have efficient (transparent?) off chain solutions to scaling as it will necessarily lead to centralization.

I just don't like my money being forked to please the social media and their mass adoption coffee cups urges.


"Wouldn't it be extremely inefficient to copy every single coffee purchase on everyone's computer?"
https://www.reddit.com/r/Bitcoin/comments/42tcqm/eli5_wouldnt_it_be_extremely_inefficient_to_copy/

https://bitcoincore.org/en/2016/01/26/segwit-benefits/ is a long read, but well worth the time*effort. 

There's no centralization or TPPs involved in segwit.  For one thing, Bitcoin CEO Adam Back (Ph.D. in distributed systems) wouldn't stand for it.

Segwit isn't being done for coffees-on-the-blockchain.  The tps bump is merely a serendipitous bonus, and just the thing for shutting up the 2MB ClassicCoin troll-forkers.

Segwit is being done to make our potentially disruptive experiment an eventually viable candidate for the job of high-powered digital cash, capable of being the provably honest mother of all settlement networks.

Segwit fixes several points of potential failure and security breach.  It also enables some amazing features, IE linear sighash scaling.

What can we do with tx signed by groups of 100 or 100k users?  I have no idea but am in favor of finding out, because I like Nice Things.


Details aside, look at the big picture here.

SW is being done as a soft fork, so there is nothing anyone can do to prevent its deployment (besides finding a deal-breaker bug or other flaw).

We can't force people to desegregate their tx and sig data.  Node operators are free to construct their blocks however they like.  Almost all of them will choose to use the new option of segregated witness, because of the apparently overwhelming advantages and acceptably negligible trade-offs.

We can run the old version and refuse to look in the newly provided companion blocks for sig data, but that doesn't change anything but our own opsec.

We are obligated to fight features, but at some point some of them begin to smell like a done deal.  Remember when everyone was upset ("rabble rabble Peter Todd rabble") about CLTV, but then some wag called it OP_HODL and suddenly all was well?   

The BIP process has worked like a charm so far.  I don't see any reason to stop trusting it for fear of segwit, sidechains, and RBF (oh my!).

The white smoke for segwit, sidechains, Lightning, and RBF went up at the HK #ScalingBitcoin.  They're coming, and the world is preparing for a Bitcoin that is ready to scale, eventually.

[ChartBuddy]

Coin



Explanation

[smooth]

Eh, to me they are introducing further points of failure and security breach (centralization, 3rd parties, etc...) whilst over-complexifying Bitcoin's code.

What centralization do you see in segwit? It simply isn't there.

[Andre#]

every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.

Blockstream is moving rapidly on segwit, sidechains, and Lightning.  They are meticulously preparing Bitcoin to be carefully scaled ASAP.

Classic, OTOH, is spreading '2MB? Not much testing needed' nonsense.

And yes, we will "go to war" to defend Bitcoin's diverse/diffuse/defensible/resilient characteristics, from which its key interesting property of antifragility emerges.

Whine about it all you want.  Nothing you do can move our Honey Badger's needle one iota.  You have no power here.

Pathetic. 

[suda123]

Do people have insider information on Eth? --

no inside info, all in plain sight

http://coinjournal.net/prediction-10-billion-will-be-invested-in-blockchain-startups-in-2016/

“It’s already started. I mean, my estimate is that we’re going to see $1 billion come into the Ethereum ecosystem in 2016 alone, and the general estimates for the amount of money going into the entire blockchain ecosystem, including Bitcoin, is on the order of $10 billion.”  - Vinay Gupta (original CypherPunk member)

from what i understand huge consortium of financial institutions invested in R3 (Mike Hearn) using the ethereum programming

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044


some other financial institutions are using the legacy open source linux hyperledger

ASX is testing this at the moment

bit hard to ignore other blockchains

*no inside info, all in plain sight*


interesting

[Andre#]

every day without an inch of movement from Blockstream, increases the possibility. The fact that they start bringing up PoW changes when backed into a corner gives even more weight to the idea that they would rather go to war than compromise to 2MB.

Blockstream is moving rapidly on segwit, sidechains, and Lightning.  They are meticulously preparing Bitcoin to be carefully scaled ASAP.

Classic, OTOH, is spreading '2MB? Not much testing needed' nonsense.

And yes, we will "go to war" to defend Bitcoin's diverse/diffuse/defensible/resilient characteristics, from which its key interesting property of antifragility emerges.

Whine about it all you want.  Nothing you do can move our Honey Badger's needle one iota.  You have no power here.

I still have doubts regarding sidechains security:
https://www.reddit.com/r/Bitcoin/comments/3vg06a/official_release_rootstock_white_paper/cxnfe6n

As for the segwit thing, I am still quite opposed to the excision of cryptographic signatures from the holy ledger (also implying the introduction of 3rd trusted parties)..

WHat you think?

If he was able to think, he would not be the good old iCE.

Classic is coming, like it or not. The alternative is to go down with a ship full of corecoins or popescucoins.

As you clearly you lost any ability to think, it would still be appreciated that you mind your manners and do not answer a question that is not being asked to you.

If you want privacy, get a room.

[iCEBREAKER]

Classic is coming, like it or not.

OK sure, just like 3 months ago 64MB Unlimited blocks were coming, like it or not.

OK sure, just like 6 months ago 8MB XTblocks were coming, like it or not.

OK sure, just like 9 months ago 20MB Gavinblocks were coming, like it or not.


Wake me up when somebody actually wastes the opportunity to mine a real block by solving a ToominBlock.

The life of that orphan chain will be nasty, brutish, and short.  I'll need to make some new #rekt memes for the occasion.   

[shmadz]

What's the longest wait you had for a transaction to go through? When the spam attacks were running people who paid fees were waiting over half a day, and the backlog took a week to clear. Did you try sending any zero fee transactions while those attacks were ongoing?

Longest wait was when I tried to buy my first Avalon, they wouldn't give me an order number until my transaction confirmed, I was watching people chime in with order numbers going up and up, felt horrible, I don't remember exactly how long it took, I waited a couple hours, then went to sleep, so sometime between 2 and 6 hours.

I did not try any 0 fee during the height of the stress testing, in hindsight I wish I had. I did send a couple with minimum fee that were confirmed in first or second block.

Even without a fee I suspect they would have been confirmed pretty quick just because of the age of the coins and because they are from mining so typically very close to their respective genesis blocks and they are typically from a single unspent output...

Doesn't say much for fungibility, but not all coins are considered equal unfortunately. Also not great for scalability as the more the coins become split up, the more they are exchanged back and forth,  the more difficult they become to move...

Edit: in fact, if this bitcoin thing continues to succeed for the next several years at some point I could envision that old coins in big chunks will sell for a premium to payment processors simply because using these less tarnished coins could bring considerable savings in transaction costs...

[Fatman3001]

I send 0 fee transactions all the time and so far they've always* gone through, so there's definitely still a decent percentage of miners that accept them. The only time I pay a fee is if I'm using a web wallet or phone wallet where the fee is built in, or if I'm sending coin to an exchange to make a trade and time is of the essence.

[more anti-semitic crap]

For the record: Fuck you, roach!

[ChartBuddy]

Coin



Explanation

[Dotto]

The mempool is at 102MB and growing. What happens when it does overflow the servers memory?. Is there some flushing mecanism or the computer get the blue screen of the death?.

What happens with that txs?