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

[Fatman3001]

Bitcoin is too inflexible for what Ethereum is trying to do and vice versa. With Bitcoin Ethereum has a safe and reliable store of value which it can integrate into its systems. With Ethereum Bitcoin has a platform uniquely suited to expand its potential. It's a win-win situation.

When and how did Ethereum solve the two-way-peg-problem that is required for it to "use Bitcoin as a reliable store of value which it can integrate" ?

Ethereum will not work like a sidechain. Distributed apps running on ethereum will run Bitcoin wallets and operate them through smart contracts.... I think.

So you're saying that it's possible to move bitcoins back and forth from the Bitcoin blockchain using an outside D App without Bitcoin being aware of it and without a trusted third party ? Interesting.

(I am pretty sure that it's not possible)

No, that's not what I'm saying. The bitcoins stay on the Bitcoin blockchain. It's no different from me or you or Circle's system using Bitcoins. Except it's an Dapp doing it.

Ok but who holds the private keys ?

Me ?
You ?
The Dapp maintener ?

The Dapp. Who controls the Dapp depends on the program. If you run the program, control the program and fill its wallet, then you control the wallet. You can also set it to be completely autonomous, which would be handy if you want to run a smart contract with triggers involving other people.

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[Cconvert2G36]

the price is getting to grow right now a little bit i wonder how will the classic release affect the price

Don't worry it won't ^^

There is no reason for the release of btc classic to affect the price!
Only the size issue will affect the price right now.

This ^^,  and I'm relatively confident that lots of bitcoiners will buy back in when we successful hard fork away from the PwC partnership to limit Bitcoin block size. Once that blockade is broken the sky's the limit.

lol, now its PwC partnership that limit the blocksize? watta looser.

Something's definitely going to be looser after all this.

They're coming at you from all angles hdbuck:
Dramatic changes to the structure of blocks and making old nodes unable to validate segwit tx from one side...
A simple bump of the holy 1MB from the other side...

You always say "fork off", fork off to where!?!??  Maybe Moonero?



MOA: classic got released today and the price is $10 higher than yesterday... strange. Has the economic majority teamed up with the CIA/GCHQ just to fuck with our heads? 

[ChartBuddy]

Coin



Explanation

[Andre#]

ETH is seeing the bubble meant to be for bitcoin. Everybody is "waiting for the consolidation" to get in...

Sounds familiar!? > ETH is 2011 all over again.

Nuts.

Because it requires Bitcoin to purchase, if it gets to a much higher price, then a competitor-clone to ETH will replace it and use less bitcoins.

I can buy ETH with EUR on Kraken.

[trickshot22]

i hope that bitcoin will start growing soon, we need to have some bigger increases pretty soon as i need money

[ImI]

ok, classic is released, now lets see what the miners have to say.

[gijoes]

MOA: classic got released today and the price is $10 higher than yesterday... strange. Has the economic majority teamed up with the CIA/GCHQ just to fuck with our heads?  

The price started a healthy rise and then fell like a rock once the news of Classic release hit. Any developments towards a contentious hard fork dumps the price down. It's ALWAYS like this, and never the other way around. By this alone, hard fork pushers should get a clue what the markets really want. But they remain clueless nonetheless.

[marcus_of_augustus]

MOA: classic got released today and the price is $10 higher than yesterday... strange. Has the economic majority teamed up with the CIA/GCHQ just to fuck with our heads?  

The price started a healthy rise and then fell like a rock once the news of Classic release hit. Any developments towards a contentious hard fork dumps the price down. It's ALWAYS like this, and never the other way around. By this alone, hard fork pushers should get a clue what the markets really want. But they remain clueless nonetheless.

yes, the healthy rise was really interesting looking a lot like an upside breakout so they had to produce some good FUD and what better than pulling puppet Gavin's strings for a little dance and a trick or two. Now we've got Jeff on the FUD pipeline too, not quite Mike Hearn level histrionics that titillate the blockheads but OK for a $10 dump it seems.

[Fatman3001]

Bitcoin is too inflexible for what Ethereum is trying to do and vice versa. With Bitcoin Ethereum has a safe and reliable store of value which it can integrate into its systems. With Ethereum Bitcoin has a platform uniquely suited to expand its potential. It's a win-win situation.

When and how did Ethereum solve the two-way-peg-problem that is required for it to "use Bitcoin as a reliable store of value which it can integrate" ?

Ethereum will not work like a sidechain. Distributed apps running on ethereum will run Bitcoin wallets and operate them through smart contracts.... I think.

So you're saying that it's possible to move bitcoins back and forth from the Bitcoin blockchain using an outside D App without Bitcoin being aware of it and without a trusted third party ? Interesting.

(I am pretty sure that it's not possible)

No, that's not what I'm saying. The bitcoins stay on the Bitcoin blockchain. It's no different from me or you or Circle's system using Bitcoins. Except it's an Dapp doing it.

Ok but who holds the private keys ?

Me ?
You ?
The Dapp maintener ?

The Dapp. Who controls the Dapp depends on the program. If you run the program, control the program and fill its wallet, then you control the wallet. You can also set it to be completely autonomous, which would be handy if you want to run a smart contract with triggers involving other people.

I still don't understand.
I think I will have to wait for a real dapp to implement it to see if it works.

I've seen some examples, but I think most of its use cases haven't been thought of yet.

Here's an interesting presentation from IBM and Samsung where they use Ethereum: https://www.youtube.com/watch?v=U1XOPIqyP7A

[blunderer]

Bitcoin smells like feet.

I wish you weren't so unhappy all the time.

[ChartBuddy]

Coin



Explanation

[JayJuanGee]

idk about you guys, my target is like 760 ish. 

Oh shit!!!!!!



Da penquin spoke.



 

[JayJuanGee]

devs should all agree to 2MB blocks And segwit

that way classic and core can both coexist  and we can 4x capacity

What about the internal governance issues in Classic?


Isn't there some resistance to classic by core because there are changes to internal governance?


So in other words, Core could adopt the 2mb aspect of Classic without changes to internal governance (if it wants to continue to shun classic), no?

[ErisDiscordia]

... Your statement is true of some classic supporters who don't understand Segwit, and have a low comprehension where they didn't realize the <snip>

He bankster lapdog, shilling for Teh Man. Pathetic Puppet don't grok disruptive potenshul of our paradigm-shifting blockchain technology. Legacy finance fiat toilet paper chancellor on the brink of second bailout, right at the tipping point of our Black Swan paradigm shift to cryptopia.

This train is bound for glory (this train), leaving with or without you so get in at the ground floor, onboard now or cry later.

CCMF! SFYL!

Communication must become total and conscious before we can stop it. Cut word lines -- Cut music lines -- Smash control images -- Smash control machine!

Maybe it's the weed, but this was a fun read!

[ChartBuddy]

Coin



Explanation

[ImI]

devs should all agree to 2MB blocks And segwit

that way classic and core can both coexist  and we can 4x capacity

What about the internal governance issues in Classic?


Isn't there some resistance to classic by core because there are changes to internal governance?


So in other words, Core could adopt the 2mb aspect of Classic without changes to internal governance (if it wants to continue to shun classic), no?

yes, but meanwhile this thing has become a matter of pride and kiddiefight. especially gmax and luke seem very hesitant in doing any compromise. jonas schnelli on the other side already signaled being able to update to 2MB.

[BlindMayorBitcorn]

ETH is seeing the bubble meant to be for bitcoin. Everybody is "waiting for the consolidation" to get in...

Sounds familiar!? > ETH is 2011 all over again.

Nuts.

Because it requires Bitcoin to purchase, if it gets to a much higher price, then a competitor-clone to ETH will replace it and use less bitcoins.

I can buy ETH with EUR on Kraken.

Ya, well, stop it. It's freaking me out!

[BlindMayorBitcorn]

Bitcoin is too inflexible for what Ethereum is trying to do and vice versa. With Bitcoin Ethereum has a safe and reliable store of value which it can integrate into its systems. With Ethereum Bitcoin has a platform uniquely suited to expand its potential. It's a win-win situation.

When and how did Ethereum solve the two-way-peg-problem that is required for it to "use Bitcoin as a reliable store of value which it can integrate" ?

Ethereum will not work like a sidechain. Distributed apps running on ethereum will run Bitcoin wallets and operate them through smart contracts.... I think.

So you're saying that it's possible to move bitcoins back and forth from the Bitcoin blockchain using an outside D App without Bitcoin being aware of it and without a trusted third party ? Interesting.

(I am pretty sure that it's not possible)

No, that's not what I'm saying. The bitcoins stay on the Bitcoin blockchain. It's no different from me or you or Circle's system using Bitcoins. Except it's an Dapp doing it.

Ok but who holds the private keys ?

Me ?
You ?
The Dapp maintener ?

The Dapp. Who controls the Dapp depends on the program. If you run the program, control the program and fill its wallet, then you control the wallet. You can also set it to be completely autonomous, which would be handy if you want to run a smart contract with triggers involving other people.

I still don't understand.
I think I will have to wait for a real dapp to implement it to see if it works.

I've seen some examples, but I think most of its use cases haven't been thought of yet.

Here's an interesting presentation from IBM and Samsung where they use Ethereum: https://www.youtube.com/watch?v=U1XOPIqyP7A

Here's a decent example from the new Princeton textbook.

Suppose Alice wants to challenge Bob to game of chess with money on-line. Alice will write an Ethereum program that implemements the rules of chess and upload it to Ethereum. She'll send the contract a quantity of Ether equal to the amount she wants to bet. Bob can see this, and if he decides to accept, he can start the game by sending his own stake of betting Ethers to the contract. The contract will then pay the winner.

[coins101]

devs should all agree to 2MB blocks And segwit

that way classic and core can both coexist  and we can 4x capacity

What about the internal governance issues in Classic?


Isn't there some resistance to classic by core because there are changes to internal governance?


So in other words, Core could adopt the 2mb aspect of Classic without changes to internal governance (if it wants to continue to shun classic), no?

yes, but meanwhile this thing has become a matter of pride and kiddiefight. especially gmax and luke seem very hesitant in doing any compromise. jonas schnelli on the other side already signaled being able to update to 2MB.

I constantly hear people say anything other than Core is bad news for Blockstream and their investors. 

[Fatman3001]

Bitcoin is too inflexible for what Ethereum is trying to do and vice versa. With Bitcoin Ethereum has a safe and reliable store of value which it can integrate into its systems. With Ethereum Bitcoin has a platform uniquely suited to expand its potential. It's a win-win situation.

When and how did Ethereum solve the two-way-peg-problem that is required for it to "use Bitcoin as a reliable store of value which it can integrate" ?

Ethereum will not work like a sidechain. Distributed apps running on ethereum will run Bitcoin wallets and operate them through smart contracts.... I think.

So you're saying that it's possible to move bitcoins back and forth from the Bitcoin blockchain using an outside D App without Bitcoin being aware of it and without a trusted third party ? Interesting.

(I am pretty sure that it's not possible)

No, that's not what I'm saying. The bitcoins stay on the Bitcoin blockchain. It's no different from me or you or Circle's system using Bitcoins. Except it's an Dapp doing it.

Ok but who holds the private keys ?

Me ?
You ?
The Dapp maintener ?

The Dapp. Who controls the Dapp depends on the program. If you run the program, control the program and fill its wallet, then you control the wallet. You can also set it to be completely autonomous, which would be handy if you want to run a smart contract with triggers involving other people.

I still don't understand.
I think I will have to wait for a real dapp to implement it to see if it works.

I've seen some examples, but I think most of its use cases haven't been thought of yet.

Here's an interesting presentation from IBM and Samsung where they use Ethereum: https://www.youtube.com/watch?v=U1XOPIqyP7A

Here's a decent example from the new Princeton textbook.

Suppose Alice wants to challenge Bob to game of chess with money on-line. Alice will write an Ethereum program that implemements the rules of chess and upload it to Ethereum. She'll send the contract a quantity of Ether equal to the amount she wants to bet. Bob can see this, and if he decides to accept, he can start the game by sending his own stake of betting Ethers to the contract. The contract will then pay the winner.

I was hoping for something that didn't involve drugs or gambling.