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

[Cconvert2G36]

How safe is it if it caused a hard fork on testnet?  How safe is it when the transactions created using the new features can be spent by anybody using the old rules.  That sounds like a s5rong incentive to lie about what you support to trigger activation and then sweep up a bunch of BTC as the transactions start coming in.

Sorry, BMB and the regulars around here know my posts are about 89.7% sarcasm.

The first issue you raise is a concern, especially considering they are under the gun to release in April as promised.

The second one seems less of/not a concern. Miners will all have to be running segwit nodes and making segwit blocks to work, it's a hard fork for them. The zombie consumer/wallet nodes that don't understand segwit at all are deemed a bonus by the Team, and they won't be able to spend any one else's coins.

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[inca]

Segwit is not going to alleviate the immediate capacity problem bitcoin is experiencing.

The market will find a solution. The alt coin market cap is rising rapidly as the wider community are beginning to appreciate that bitcoin is not going to be allowed to grow to accommodate more users and transactions in the future under current governance.

There is little time IMO before major holders decide to throw in the towel and move to other blockchains which could bring immense (downward) price volatility. As a long time bitcoin holder this is extremely disappointing as the money flowing into ETH and the other alts should be entering bitcoin.

Miners need to wake up and realise who is paying their electricity bills and vote for immediate capacity increases with Classic :/

[marcus_of_augustus]

If SegWit is going to be shelved then we'd want a 4 MB hardfork ASAP, just imho.

[Cconvert2G36]

If SegWit is going to be shelved then we'd want a 4 MB hardfork ASAP, just imho.

Nah, if we just have to shelve segwit (which they won't, ever), 1.75MB oughtta cover it.

[ChartBuddy]

Coin



Explanation

[marcus_of_augustus]

If SegWit is going to be shelved then we'd want a 4 MB hardfork ASAP, just imho.

Nah, if we just have to shelve segwit (which they won't, ever), 1.75MB oughtta cover it.

A can kick hard fork to buy time should be put at the maximum possible limit so we are not tediously going through all this derp molasses again next year.

[Cconvert2G36]

If SegWit is going to be shelved then we'd want a 4 MB hardfork ASAP, just imho.

Nah, if we just have to shelve segwit (which they won't, ever), 1.75MB oughtta cover it.

A can kick hard fork to buy time should be put at the maximum possible limit so we are not tediously going through all this derp molasses again next year.

I can agree with you there [feels weird], miners would soft limit below the hard limit anyway, like they did before we hit the 1MB ceiling. I'm for a fee market, just one determined by the producers, not the planners.

[ChartBuddy]

Coin



Explanation

[marcus_of_augustus]

If SegWit is going to be shelved then we'd want a 4 MB hardfork ASAP, just imho.

Nah, if we just have to shelve segwit (which they won't, ever), 1.75MB oughtta cover it.

A can kick hard fork to buy time should be put at the maximum possible limit so we are not tediously going through all this derp molasses again next year.

I can agree with you there [feels weird], miners would soft limit below the hard limit anyway, like they did before we hit the 1MB ceiling. I'm for a fee market, just one determined by the producers, not the planners.

... you need to break your mind free of the Classic groupthink newspeak rhetoric, there are no "planners" just developers providing code that the nodes choose (or not) to run. Attempts at vilification through framing the debate and/or agenda via language (spin) is a sure sign that you are the subject of an attempt to manipulate your opinions and influence your previously independent thought processes.

[adamstgBit]

i'm back.

did i miss anything?

why would segwit be "shelved" ( postponed ? )

[adamstgBit]

if we get past 425, put on your moon boots and step into the intergalactic rocket ship

[adamstgBit]

 

https://blockchain.info/charts/transaction-fees-usd

https://blockchain.info/charts/n-transactions

[BlindMayorBitcorn]

i'm back.

did i miss anything?

why would segwit be "shelved" ( postponed ? )

Somebody called Code Shark broke it. Or something. Just get in the van.

[marcus_of_augustus]

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=
the transaction growth rates are exponential, looking at longer term we are definitely going parabolic, how long does a 4MB can kick really buy?

The doubling from 50k to 100k took ~1yr, the doubling from 100k to 200k took ~6months, the next doubling to 400k transactions will take ~3months (2MByte saturation), the doubling after that will take say 2 months conservatively 800k transactions (4Mbyte saturation) buying a total of 6 months only.

A 4MByte increase in blockchain growth rate, bandwidth, etc to buy 6 months to look for real scaling capacity solutions, is it worth it??

[adamstgBit]

https://blockchain.info/charts/n-transactions-excluding-popular?timespan=all&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=
the transaction growth rates are exponential, looking at longer term we are definitely going parabolic, how long does a 4MB can kick really buy?

The doubling from 50k to 100k took ~1yr, the doubling from 100k to 200k took ~6months, the next doubling to 400k transactions will take ~3months (2MByte saturation), the doubling after that will take say 2 months conservatively 800k transactions (4Mbyte saturation) buying a total of 6 months only.

A 4MByte increase in blockchain growth rate, bandwidth, etc to buy 6 months to look for real scaling capacity solutions, is it worth it??

is it avoidable?

at this rate, TX will NOT go exponential / parabolic.

we need 2-4-8 .... MB
we need segwit and other things
we need LN and side chains
we need more ideas.

and we need it yesterday, of course...

[adamstgBit]

if we get past 425, put on your moon boots and step into the intergalactic rocket ship

get your boots, we are inching closer to that magic number.

[ChartBuddy]

Coin



Explanation

[PoolMinor]

if we get past 425, put on your moon boots and step into the intergalactic rocket ship

get your boots, we are inching closer to that magic number.

[ahpku]

... you need to break you mind free of the Classic groupthink newspeak rhetoric, there are no "planners" just developers providing code that the nodes choose (or not) to run. Attempts at vilification through framing the debate and/or agenda via language (spin) is a sure sign that you are the subject of an attempt to manipulate your opinions and influence your previously independent thought processes.

Fun fact: mad cow disease "causes a spongy degeneration of the brain," literally eats holes in your brain. Now, the thing that eats those holes isn't bacteria or even a virus. It's... now get this: a protein that, for some disgusting reason, folds all weird and wrong, like Ice 9 in Cat's Cradle.
A prion, they call it. Not even alive, so no killing it, either. "Resistant to ionizing radiation," can you imagine?

Now, reading what you've just posted there... How long have you been hanging out with mad cows and/or JayJuanGee? And try telling truth for once, the thing's got an asymptomatic "incubation period of months to years," and a bunch of other peculiarities, so I'll know if you're lying. Right away. So don't bother trying.

"I saw the worst minds of my generation destroyed by mad cow disease, starving hysterical naked" -brainyquote.com

[Cconvert2G36]

If SegWit is going to be shelved then we'd want a 4 MB hardfork ASAP, just imho.

Nah, if we just have to shelve segwit (which they won't, ever), 1.75MB oughtta cover it.

A can kick hard fork to buy time should be put at the maximum possible limit so we are not tediously going through all this derp molasses again next year.

I can agree with you there [feels weird], miners would soft limit below the hard limit anyway, like they did before we hit the 1MB ceiling. I'm for a fee market, just one determined by the producers, not the planners.

... you need to break your mind free of the Classic groupthink newspeak rhetoric, there are no "planners" just developers providing code that the nodes choose (or not) to run. Attempts at vilification through framing the debate and/or agenda via language (spin) is a sure sign that you are the subject of an attempt to manipulate your opinions and influence your previously independent thought processes.

You typed that with a straight face?

newspeak rhetoric: there are no "planners" just developers

nodes choose (or not) to run: while enduring/absorbing ddos and after being shown scary slides in 18hr meetings that include (not so) subtle threats

Attempts at vilification through framing the debate: The echochamber ruled with an iron fist by herr theymos. Sort by controversial. Talk of node options deemed altcoins and poster banned.

agenda via language (spin): Toomimcoin, Gavincoin R3KT [child-like glee], Hard Fork=Dangerous, Soft Fork=Safe Fork, No Contention, Always Consensus

attempt to manipulate your opinions and influence your previously independent thought processes: See above(!)

We [sometimes] disagree on an important issue... and that's ok. But please, your description of why I think the way I do, strains credulity.