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

[billyjoeallen]

Someone on Reddit proposed BitcoinRadical today: to fork away from the Commies, you see.  

Censorship-Coin?

I saw it earlier but can't find it now. Hey, has anyone noticed that two of the signatories on the CRTA are Han Solo and Wang Chung?

Theymos removed it, that bookburning crypto-fascist.

[stoat]

I think there won't be a price rise at halving which will kill off the chinese miners THIS NEEDS TO HAPPEN.

If the chinese continue to dominate and centralise the bitcoin network then Ethereum will have to take over where BTC failed.  As you can see, Ethereum market cap is now $0.5billion and will be $1billion soon.

[Cconvert2G36]

I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is

... and then what, they shoot the blockchain into pieces?! omg bitcoin doomed

Shut them down if they are stupid, but they aren't stupid. The Chinese have a higher average IQ than Europeans and Americans. They would do what the Chinese do: they would manipulate the currency. 51% attacks, double spends or merely threaten to do so.  

This is the part where we change the PoW… just like some are threatening to do if 75% of the blocks start voting for 2MB.

The important difference… it would be unanimous in the case of chinese govt takeover of mines, far from it with a simple upgrade to 2MB max blocks with miners using soft limits along their supply curve.

15000, and a big delete buffer 

[billyjoeallen]

I think there won't be a price rise at halving which will kill off the chinese miners THIS NEEDS TO HAPPEN.

If the chinese continue to dominate and centralise the bitcoin network then Ethereum will have to take over where BTC failed.  As you can see, Ethereum market cap is now $0.5billion and will be $1billion soon.

Good plan except it will hurt non-Chinese miners (who pay more for electricity) more. There's no way out of this trap.

[adamstgBit]

https://www.reddit.com/r/Bitcoin/comments/46po4l/we_have_consensus_in_april_we_get_sw_3_months/d07gqic

[stoat]

I think there won't be a price rise at halving which will kill off the chinese miners THIS NEEDS TO HAPPEN.

If the chinese continue to dominate and centralise the bitcoin network then Ethereum will have to take over where BTC failed.  As you can see, Ethereum market cap is now $0.5billion and will be $1billion soon.

Good plan except it will hurt non-Chinese miners (who pay more for electricity) more. There's no way out of this trap.

Corporate bitcoin mining needs to die.

The only way out is going back to hobby mining.

[billyjoeallen]

I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is

... and then what, they shoot the blockchain into pieces?! omg bitcoin doomed

Shut them down if they are stupid, but they aren't stupid. The Chinese have a higher average IQ than Europeans and Americans. They would do what the Chinese do: they would manipulate the currency. 51% attacks, double spends or merely threaten to do so.  

This is the part where we change the PoW… just like some are threatening to do if 75% of the blocks start voting for 2MB.

The important difference… it would be unanimous in the case of chinese govt takeover of mines, far from it with a simple upgrade to 2MB max blocks with miners using soft limits along their supply curve.

15000, and a big delete buffer  

How long would that take? How soon could we agree on a different hashing algorithm? How long to write the code and update the nodes? How much hashpower would secure the new fork? Face it, the ChiComs could damage Bitcoin beyond repair, or at least destroy our firstmover advantage and crash the price to pennies.

[billyjoeallen]

I think there won't be a price rise at halving which will kill off the chinese miners THIS NEEDS TO HAPPEN.

If the chinese continue to dominate and centralise the bitcoin network then Ethereum will have to take over where BTC failed.  As you can see, Ethereum market cap is now $0.5billion and will be $1billion soon.

Good plan except it will hurt non-Chinese miners (who pay more for electricity) more. There's no way out of this trap.

Corporate bitcoin mining needs to die.

The only way out is going back to hobby mining.

So your solution is to take away the profit incentive? You can hobby mine any of a a number of alts now or start your own.  There's no going back, Hoss. Maybe we can talk President Trump into converting the Utah NSA supersnooper datacenter into a giant Bitcoin mine, but I wouldn't count on it.

I've thought of all these proposals for a while. There doesn't seem to be a solution. There may not be one and if there is, it's not obvious.

EDIT: you know reversion back to hobby mining may be the best of all shitty options. Nobody buy us hard core bitcoiners will invest in mining equipment knowing that a fork could render our gear worthless, knowing that the last hard fork rendered millions in gear worthless.

[keystroke]

15000 or 15001? w00t w00t.

[Cconvert2G36]

I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is

... and then what, they shoot the blockchain into pieces?! omg bitcoin doomed

Shut them down if they are stupid, but they aren't stupid. The Chinese have a higher average IQ than Europeans and Americans. They would do what the Chinese do: they would manipulate the currency. 51% attacks, double spends or merely threaten to do so.  

This is the part where we change the PoW… just like some are threatening to do if 75% of the blocks start voting for 2MB.

The important difference… it would be unanimous in the case of chinese govt takeover of mines, far from it with a simple upgrade to 2MB max blocks with miners using soft limits along their supply curve.

15000, and a big delete buffer 

How long would that take? How soon could we agree on a different hashing algorithm? How much hashpower would secure the new fork? Face it, the ChiComs could damage Bitcoin beyond repair, or at least destroy our firstmover advantage and crash the price to pennies.

It'd be a nightmare for sure, but not insurmountable I think. As gmax likes to say, the candidate code is ready. The chances of you seeing it are probably much higher than a hostile takeover by the PRC.

[billyjoeallen]

I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is

... and then what, they shoot the blockchain into pieces?! omg bitcoin doomed

Shut them down if they are stupid, but they aren't stupid. The Chinese have a higher average IQ than Europeans and Americans. They would do what the Chinese do: they would manipulate the currency. 51% attacks, double spends or merely threaten to do so.  

This is the part where we change the PoW… just like some are threatening to do if 75% of the blocks start voting for 2MB.

The important difference… it would be unanimous in the case of chinese govt takeover of mines, far from it with a simple upgrade to 2MB max blocks with miners using soft limits along their supply curve.

15000, and a big delete buffer  

How long would that take? How soon could we agree on a different hashing algorithm? How much hashpower would secure the new fork? Face it, the ChiComs could damage Bitcoin beyond repair, or at least destroy our firstmover advantage and crash the price to pennies.

It'd be a nightmare for sure, but not insurmountable I think. As gmax likes to say, the candidate code is ready. The chances of you seeing it are probably much higher than a hostile takeover by the PRC.

The probability of a hostile takeover by the PRC goes up as $/BTC goes up. So if we continue on our upward trajectory, the only question is what's gonna kill us first, the commies or fullblocalypse?

[Cconvert2G36]

Aaaand... the debate has risen to the tenor of "accusations of cockgobbling"



Way to go Samson Mow, COO (edited) of BTCC

Bobby Lee must be proud.

[BitThink]

I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is

... and then what, they shoot the blockchain into pieces?! omg bitcoin doomed

Shut them down if they are stupid, but they aren't stupid. The Chinese have a higher average IQ than Europeans and Americans. They would do what the Chinese do: they would manipulate the currency. 51% attacks, double spends or merely threaten to do so.  

This is the part where we change the PoW… just like some are threatening to do if 75% of the blocks start voting for 2MB.

The important difference… it would be unanimous in the case of chinese govt takeover of mines, far from it with a simple upgrade to 2MB max blocks with miners using soft limits along their supply curve.

15000, and a big delete buffer  

How long would that take? How soon could we agree on a different hashing algorithm? How much hashpower would secure the new fork? Face it, the ChiComs could damage Bitcoin beyond repair, or at least destroy our firstmover advantage and crash the price to pennies.

It'd be a nightmare for sure, but not insurmountable I think. As gmax likes to say, the candidate code is ready. The chances of you seeing it are probably much higher than a hostile takeover by the PRC.

The probability of a hostile takeover by the PRC goes up as $/BTC goes up. So if we continue on our upward trajectory, the only question is what's gonna kill us first, the commies or fullblocalypse?

I feel in your imagination, China is a city and all miners are inside one room, and the government is a man with a gun who can shoot anyone he want at anytime.

[billyjoeallen]

Aaaand... the debate has risen to the tenor of "accusations of cockgobbling"



Way to go Samson Mow, CTO of BTCC

Bobby Lee must be proud.

classy.

[billyjoeallen]

I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is

... and then what, they shoot the blockchain into pieces?! omg bitcoin doomed

Shut them down if they are stupid, but they aren't stupid. The Chinese have a higher average IQ than Europeans and Americans. They would do what the Chinese do: they would manipulate the currency. 51% attacks, double spends or merely threaten to do so.  

This is the part where we change the PoW… just like some are threatening to do if 75% of the blocks start voting for 2MB.

The important difference… it would be unanimous in the case of chinese govt takeover of mines, far from it with a simple upgrade to 2MB max blocks with miners using soft limits along their supply curve.

15000, and a big delete buffer  

How long would that take? How soon could we agree on a different hashing algorithm? How much hashpower would secure the new fork? Face it, the ChiComs could damage Bitcoin beyond repair, or at least destroy our firstmover advantage and crash the price to pennies.

It'd be a nightmare for sure, but not insurmountable I think. As gmax likes to say, the candidate code is ready. The chances of you seeing it are probably much higher than a hostile takeover by the PRC.

The probability of a hostile takeover by the PRC goes up as $/BTC goes up. So if we continue on our upward trajectory, the only question is what's gonna kill us first, the commies or fullblocalypse?

I feel in your imagination, China is a city and all miners are inside one room, and the government is a man with a gun who can shoot anyone he want at anytime.

No, China is a huge diverse nation under the political control of a single party government that has murdered more of it's own citizens than any other government in the history of civilization. What's not to love?

[adamstgBit]

Aaaand... the debate has risen to the tenor of "accusations of cockgobbling"



Way to go Samson Mow, CTO of BTCC

Bobby Lee must be proud.

LN promises to take away >90% of the fees generated per block, of course Samson Mow hates it...

i agree with the other guy
yes, we need R&D on LN and sidechains
just don't force me to buy it. pre-order

[BitThink]

Aaaand... the debate has risen to the tenor of "accusations of cockgobbling"



Way to go Samson Mow, CTO of BTCC

Bobby Lee must be proud.

Clown

[BitThink]

Aaaand... the debate has risen to the tenor of "accusations of cockgobbling"



Way to go Samson Mow, CTO of BTCC

Bobby Lee must be proud.

LN promises to take away >90% of the fees generated per block, of course Samson Mow hates it...

i agree with the other guy
yes, we need R&D on LN and sidechains
just don't force me to buy it. pre-order

I think you make a mistake of Mow's position. He's supporting LN.

[ChartBuddy]

Coin



Explanation

[adamstgBit]

Aaaand... the debate has risen to the tenor of "accusations of cockgobbling"



Way to go Samson Mow, CTO of BTCC

Bobby Lee must be proud.

LN promises to take away >90% of the fees generated per block, of course Samson Mow hates it...

i agree with the other guy
yes, we need R&D on LN and sidechains
just don't force me to buy it. pre-order

I think you make a mistake of Mow's position. He's supporting LN.

you sure?
well in that case i'll just say that, i'll take Gavin's thing over Mow's thing...