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

[bones261]

Sorry to ask but where to read more about BU and Segwit? there is not much info here... and even a big nothing in the mining section.

It is very difficult to find anyone that will discuss BU or Segwit. I wish there was more discussion about it but nobody has an opinion for one or the other.

Isn't that the truth. I think most of the people bitching about it really don't fully understand either of the options. (me included lol)

Both hope to solve the same issue however. Just BU at some point could trigger the hard fork. Segwit would only be a soft fork. Just the sounds of a hard fork spooks people as it probably should lol

BU is a stupid solution anyway. If BTC ever wants to scale on something that would compete with Visa and Paypal, we'd need to increase the blocksize to 1GB+. Problem is, such a large block would take so long to verify, there would end up being a lot of empty block mined, and the large 1GB+ blocks would end up getting orphaned, anyway. IF BTC wants to even come close to scaling like the big boys, an off chain solution like LN is our only hope.

if I get it BU is unlimited... thx for your comment anyway.

Yes, BU is unlimited, but you ever notice from time to time an empty block gets mined? Why does this usually happen? Well, each node has to verify all the transactions of a block. So miners don't lose hash while the block is getting validated, the miner begins mining an empty block. The validation process currently take less than a minute for most nodes. To compete with someone like Visa, we need to validate like a 1000x more transactions than currently can be done. This would require 1GB blocks. However, that block would also take 1000 times longer to validate. Therefore, you would get a lot of empty blocks being mined since validating the blocks with lots of transaction in it would take a whole lot longer than 10 minutes. Since a lot of empty blocks would be mined, the blocks with actual transaction would have to get bigger and bigger. BU is fine if we want to keep the capability down to 50 transactions per second or less. But if BTC wants to get huge, an off chain solution makes more sense.

[B1tUnl0ck3r]

Sorry to ask but where to read more about BU and Segwit? there is not much info here... and even a big nothing in the mining section.

It is very difficult to find anyone that will discuss BU or Segwit. I wish there was more discussion about it but nobody has an opinion for one or the other.

Thank you, I was very troubled by this. Was I looking in the wrong sections (tried them almost all) and still nothing really serious. Do you know where they hide to conspire their changes?

I was being sarcastic.

Every thread on the Internet about Bitcoin these days is just people bitching about Segwit and BU.

Even in a thread that is supposed to be focused on Bitcoin price movement tracking and discussion.

 

Take it to the development section assholes. That is where Bitcoin development should be discussed.

you mean there Development & Technical Discussion https://bitcointalk.org/index.php?board=6.0 ?

because I only see one post about another proposition on top. no need to be rude, it's a serious question...

$800 soon...

Then $200  

Just my opinion  

It's only going to stay in the $950-$1100 range until the Chinese stuff chills down. People will still find a way to get Bitcoin without identification. Why would they need to be identified? If a million people are going to buy BTC they're going to enter a database.. and what can they do after that? Lol, this is the process of de-anonymization created by them.

• Xi Jinping said he wants to be the New World Order's boss
• China investigated BTC months ago over 2 times
• China now imposes a new rule making the exchanges ask people to identify themselves

As the New World Order "conspiracy theory" says, they do NOT like anonymity. They want everything under control to manipulate us and to give us orders, not the opposite. If everyone used Bitcoin it'd be way better in this world. As a coincidence, all this "New World Order" invented stuff is just becoming more and more real..
Just don't identify yourself. If you can't go to exchanges to buy BTC without identification, find someone in your area that wants to sell their Bitcoin and trade with him.

We probably won't see a $200 price anymore. That would mean a BIG scare for traders and investors, and the possible fail of Bitcoin. It's just going to keep rising.

social engineers see others humans as the clay they must mold to achieve their utopia... they forget that they may too be manipulated.

This gives a good overview of where all the nodes are at right now. Interesting, the way I am reading it is BU nodes at 33.1 %

http://xtnodes.com/

No. Why are you preaching something which you do not even understand? BU nodes are at ~8% at best (see here: https://bitnodes.21.co/nodes/), or more realistically at 2% (see here: http://luke.dashjr.org/programs/bitcoin/files/charts/software.html).

Yeah, you can twist it anyway you want. Semantics of mining node vs a regular node. Most miners are in China yet most non-mining nodes are in the US (United States--1814 =27.87%). The point is that the mining nodes will determine whether the code gets forked, not the regular nodes.

And the users determine which fork has value, not the miners.

Boom
/debate

always true. Could the real btc exists along side the forks with a lot of the hashing power in the forks?

This gives a good overview of where all the nodes are at right now. Interesting, the way I am reading it is BU nodes at 33.1 %

http://xtnodes.com/

No. Why are you preaching something which you do not even understand? BU nodes are at ~8% at best (see here: https://bitnodes.21.co/nodes/), or more realistically at 2% (see here: http://luke.dashjr.org/programs/bitcoin/files/charts/software.html).

Yeah, you can twist it anyway you want. Semantics of mining node vs a regular node. Most miners are in China yet most non-mining nodes are in the US (United States--1814 =27.87%). The point is that the mining nodes will determine whether the code gets forked, not the regular nodes.

And the users determine which fork has value, not the miners.

Now you can argue whether node count is a good metric of where the users stand or not.

The miners have always determined the value, hence why they are mining. Not many altruistic miners out there only concerned with supporting the network.

few supports p2p mining...

Sorry to ask but where to read more about BU and Segwit? there is not much info here... and even a big nothing in the mining section.

It is very difficult to find anyone that will discuss BU or Segwit. I wish there was more discussion about it but nobody has an opinion for one or the other.

Isn't that the truth. I think most of the people bitching about it really don't fully understand either of the options. (me included lol)

Both hope to solve the same issue however. Just BU at some point could trigger the hard fork. Segwit would only be a soft fork. Just the sounds of a hard fork spooks people as it probably should lol

BU is a stupid solution anyway. If BTC ever wants to scale on something that would compete with Visa and Paypal, we'd need to increase the blocksize to 1GB+. Problem is, such a large block would take so long to verify, there would end up being a lot of empty block mined, and the large 1GB+ blocks would end up getting orphaned, anyway. IF BTC wants to even come close to scaling like the big boys, an off chain solution like LN is our only hope.

if I get it BU is unlimited... thx for your comment anyway.

Yes, BU is unlimited, but you ever notice from time to time an empty block gets mined? Why does this usually happen? Well, each node has to verify all the transactions of a block. So miners don't lose hash while the block is getting validated, the miner begins mining an empty block. The validation process currently take less than a minute for most nodes. To compete with someone like Visa, we need to validate like a 1000x more transactions than currently can be done. This would require 1GB blocks. However, that block would also take 1000 times longer to validate. Therefore, you would get a lot of empty blocks being mined since validate the block with lots of transaction in it would take a whole lot longer than 10 minutes. Since a lot of empty blocks would be mined, the blocks with actual transaction would have to get bigger and bigger. BU is fine if we want to keep the capability down to 50 transactions per second or less. But if BTC wants to get huge, an off chain solution makes more sense.

I knew that, but I didn't realized it was that long to verify the txs. thx again for your inputs. And why not simply a 10mb block? it wouldn't be that big a difference from now...

[yefi]

I have trouble understanding who is still selling? The price is insanely low.

I'm selling now. I was selling yesterday.

Was selling yesterday and this morning. Waiting now for bounce so I can sell more. Bitcoin is in the hands of a madman.

Was gone doing shit while price was dipping down too so couldn't do anything

Hm, have you tried a stool softener?   

[Torque]

So all the alt $$$$ is going through basically one exchange, Poloniex.

And then there's this:
https://twitter.com/Poloniex/status/843139698667257859

What could possibly go wrong?   

[B1tUnl0ck3r]

So all the alt $$$$ is going through basically one exchange, Poloniex.

And then there's this:
https://twitter.com/Poloniex/status/843139698667257859

What could possibly go wrong?  

that little station strike wouldn't be enough to describe the aftermath... but a better timing to strike polo would be hard to find.

[MinermanNC]

So all the alt $$$$ is going through basically one exchange, Poloniex.

And then there's this:
https://twitter.com/Poloniex/status/843139698667257859

What could possibly go wrong?   

That explains it lol (poli) I managed to withdraw some BTC earlier 

[bones261]

I knew that, but I didn't realized it was that long to verify the txs. thx again for your inputs. And why not simply a 10mb block? it wouldn't be that big a difference from now...

10mb would be more than ample for the current state of Bitcoin. That would be capable of verifying about 30 to 40 transactions per second. Maybe less since more empty blocks would still end up being mined. However, if Bitcoin wants to compete with the big boys and feasibly be used to buy a cup of coffee; gets the mass adoption us HODLs crave; then we need to find a way to verify thousands of transactions a second. I only see an off chain solution to get us to that step.

[york780]

I told you i dumped my coins. They were mine. But now i m pumping ZEC.

[Torque]

Okay another question where do all those coins come from? There has to be a moment the seller sold all his coins. So many sells? I am not amused.

You can endlessly short if you have the capital and the exchange has enough coins for you to short.  And with no buyers right now, the whale can keep going.

I guess the downside is that the Chinese exchanges have a bunch, since no one can withdrawal BTC right now.

If you have coins on an exchange, pull them off and help the cause.

This asshole will get rekt once sentiment shifts and other big buyers start coming in.

(Or it could just be Roger Ver rage-quitting Bitcoin   )

[MinermanNC]

So, should I get rid of BTC and use ZEC? If so, why?
Or is it better to wait for BTC to stable?

Do you think it will raise in the next weeks or is 1200$ the highest we will see in months?

My guess is, if BTC gets back up to 1200 ZEC will drop. Sell ZEC now and hold and hope BTC goes back up  

EDIT: NM I see what your asking lol,,, hold on to your BTC

[lemmyK]

stu pid bitcoin , when i sell all just one minute after start go up... its not first time when exxactly same happen to me. (3-4times i remember)  somebody watch me like in that movie truman show..     it can be just ...damn

[HI-TEC99]

Okay another question where do all those coins come from? There has to be a moment the seller sold all his coins. So many sells? I am not amused.

You can endlessly short if you have the capital the exchange has enough coins for you to short.  And with no buyers right now, the whale can keep going.

I guess the downside is that the Chinese exchanges have a bunch, since no one can withdrawal BTC right now.

If you have coins on an exchange, pull them off and help the cause.

This asshole will get rekt once sentiment shifts and other big buyers start coming in.

(Or it could just be Roger Ver rage-quitting Bitcoin   )

I remember a few years ago a whale kept crashing the price. He had millions of dollars worth of coins on high leverage, but eventually get rekt. The price shot straight back up after that. This dump could have someone similar behind it, and lead to a fast pump afterwards.

[B1tUnl0ck3r]

I knew that, but I didn't realized it was that long to verify the txs. thx again for your inputs. And why not simply a 10mb block? it wouldn't be that big a difference from now...

10mb would be more than ample for the current state of Bitcoin. That would be capable of verifying about 30 to 40 transactions per second. Maybe less since more empty blocks would still end up being mined. However, if Bitcoin wants to compete with the big boys and feasibly be used to buy a cup of coffee; gets the mass adoption us HODLs crave; then we need to find a way to verify thousands of transactions a second. I only see an off chain solution to get us to that step.

it would be a first step... and then in a few years 100mb... 10mb would add a lot of capacity now without much change (a 0 more).

[jbreher]

I have read that Antpool among others are already on board with BU... and are just waiting a unknown threshold to start mining BU and not BTC.

Umm... BU is Bitcoin. Merely with a user set max block size. What they are waiting for is a clear indication that a large enough majority supports this concept of emergent consensus. At which point, all but an intransigent 1% will accept the new paradigm and switch to a larger-block-capable client -- be it BU, patched core, or other.

[RCan06]

This kind of Bitcoin market activity takes me back, nostalgia...

[Biodom]

I knew that, but I didn't realized it was that long to verify the txs. thx again for your inputs. And why not simply a 10mb block? it wouldn't be that big a difference from now...

10mb would be more than ample for the current state of Bitcoin. That would be capable of verifying about 30 to 40 transactions per second. Maybe less since more empty blocks would still end up being mined. However, if Bitcoin wants to compete with the big boys and feasibly be used to buy a cup of coffee; gets the mass adoption us HODLs crave; then we need to find a way to verify thousands of transactions a second. I only see an off chain solution to get us to that step.

it would be a first step... and then in a few years 100mb... 10mb would add a lot of capacity now without much change (a 0 more).

that's basically a K12 opinion.
what you suggest is a 14.4 modem followed by a28.8K modem followed by a 56K modem
what i want is cable or fiberoptic speeds aka new technology. Setting limit at 1,2, 8 or whatever is bumpkins.
personally, i don't give if it is set at 1,2 or 8, i just want next step to be something more inventive than linear mb addition.

BU=K12 level
Segwit=new technology basis

Case closed

[LLec]

I told you i dumped my coins. They were mine. But now i m pumping ZEC.

What is ZEC?

I keep hearing this word but it does not compute into my equations I have made of my computation into btc.

Queue the meme of the daleks !

[jbreher]

But will the core wallet works with BU?

Core wallet works with BU. Note that BU and Core are currently the exact same blockchain. Once larger blocks start being mined, however, the Core wallet would require a rather trivial patch (to accept larger sized blocks) to remain compatible with the resulting chain.

[Biodom]

I told you i dumped my coins. They were mine. But now i m pumping ZEC.

What is ZEC?

I keep hearing this word but it does not compute into my equations I have made of my computation into btc.

Queue the meme of the darleks!
https://s-media-cache-ak0.pinimg.com/736x/c5/43/26/c543261bfa10772a4fef1b04901019f9.jpg[/img]

it's daleks, NOT darleks, LOL

[European Central Bank]

So all the alt $$$$ is going through basically one exchange, Poloniex.

And then there's this:
https://twitter.com/Poloniex/status/843139698667257859

What could possibly go wrong?   

it would be real interesting to see what effect a poloniex goxing would have on bitcoin itself. there must be tens of thousands on there minimum.