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

[jaberwock]

Digging the new uptrend, hopefully it'll last and continue upwards.

Will we see BTC steadily over $3000 soon?

I don't know, some altcoins gained lots of value, the recent rise could be people taking profits and going back to Bitcoin. Still need more time to call it a uptrend.

[JimboToronto]

Digging the new uptrend, hopefully it'll last and continue upwards.

Will we see BTC steadily over $3000 soon?

New uptrend?

It's the same old uptrend we've had for 22 months.

Surely you're not calling last week's little correction and short-lived Bitmain panic a downtrend, are you?

[TeeBone]

So basically, 2X delays the Great Showdown for 3 months ? I cannot see Core backing the 2nd step (2mb), so i dont see any of them coming out in favor of 2X, unless they lie (doubtful) just to get SegWit in place. I cant wait til all this shit's over, but scaling will always be an issue just like we're still scaling the internet.

[bitserve]

So basically, 2X delays the Great Showdown for 3 months ? I cannot see Core backing the 2nd step (2mb), so i dont see any of them coming out in favor of 2X, unless they lie (doubtful) just to get SegWit in place. I cant wait til all this shit's over, but scaling will always be an issue just like we're still scaling the internet.

Why not back it? It is obvious we do also need a moderate (2x) blocksize increase even if Segwit is much more important for scaling.

On other news: http://www.investopedia.com/news/congress-bill-require-declaration-digital-currencies-us-border-bitcoin-homeland-security/

[JayJuanGee]

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.

Oh you weren't at the Barry, Roger, Jihan, Craig Wright meeting?

They seem to have assisted some catalyst,and we may be getting some variation of segwit first, possibly in the near future?

[Elwar]

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.

From the headlines I've seen...Segwit2x is like calling the surveillance law the PATRIOT Act. It does not mean what you think it means. People agreed on it thinking it was Segwit plus 2Mb blocks. This is not so.

[hv_]

The truth is ruling the (true!) philosophers.

Our task is to filter.

This is authority.

[machasm]

http://www.bbc.co.uk/news/business-40338220
Barclays facing fraud charges.
For the sake of all of us Bitcoin has to work!

[Last of the V8s]

to clarify last night's discussion:

...
I'm going to call it now, segwit2x will be responsible for activating segwit at last due to overwhelming miner support, BUT great thanks to James Hilliard for introducing them to BIP91 which makes segwit2x compatible with the other segwit activations.

Watch this for the very rapid rise in segwit2x support that will happen fast now:
https://coin.dance/blocks

Segwit may well get a miner activated soft fork before BIP148's UASF which remains in limbo in terms of meaningful support but seems to have had the desired effect of forcing miners' hands in one way or another.

What happens after segwit though is a mystery, but there is enough miner hashrate support for 2MB that it might happen too.

very lolworthy that Hilliard is 1. a core dev. 2. works for 'bitmainwarranty' (not bitmain but still!)
but 3. wrote this bip91 to tie segwit in, to 'both' parties' satisfaction
miners' signalling has for the moment no real effect. the dates to watch are 14-21 July.
bitmain (viaBTC) may then later hard fork to make this chinacoin, which imnvho may have a little value as an altcoin

so, if there's any correlation to price with all this, sideways for ~4 weeks, then more likely than not blast off

[Spaceman_Spiff]

to clarify last night's discussion:

...
I'm going to call it now, segwit2x will be responsible for activating segwit at last due to overwhelming miner support, BUT great thanks to James Hilliard for introducing them to BIP91 which makes segwit2x compatible with the other segwit activations.

Watch this for the very rapid rise in segwit2x support that will happen fast now:
https://coin.dance/blocks

Segwit may well get a miner activated soft fork before BIP148's UASF which remains in limbo in terms of meaningful support but seems to have had the desired effect of forcing miners' hands in one way or another.

What happens after segwit though is a mystery, but there is enough miner hashrate support for 2MB that it might happen too.

very lolworthy that Hilliard is 1. a core dev. 2. works for 'bitmainwarranty' (not bitmain but still!)
but 3. wrote this bip91 to tie segwit in, to 'both' parties' satisfaction
miners' signalling has for the moment no real effect. the date to watch is 16 July.
bitmain (viaBTC) may then later hard fork to make this chinacoin, which imnvho may have a little value as an altcoin

so, if there's any correlation to price with all this, sideways for ~4 weeks, then more likely than not blast off

I am a bit out of the loop, what happens July 16?

[rjclarke2000]

to clarify last night's discussion:

...
I'm going to call it now, segwit2x will be responsible for activating segwit at last due to overwhelming miner support, BUT great thanks to James Hilliard for introducing them to BIP91 which makes segwit2x compatible with the other segwit activations.

Watch this for the very rapid rise in segwit2x support that will happen fast now:
https://coin.dance/blocks

Segwit may well get a miner activated soft fork before BIP148's UASF which remains in limbo in terms of meaningful support but seems to have had the desired effect of forcing miners' hands in one way or another.

What happens after segwit though is a mystery, but there is enough miner hashrate support for 2MB that it might happen too.

very lolworthy that Hilliard is 1. a core dev. 2. works for 'bitmainwarranty' (not bitmain but still!)
but 3. wrote this bip91 to tie segwit in, to 'both' parties' satisfaction
miners' signalling has for the moment no real effect. the date to watch is 16 July.
bitmain (viaBTC) may then later hard fork to make this chinacoin, which imnvho may have a little value as an altcoin

so, if there's any correlation to price with all this, sideways for ~4 weeks, then more likely than not blast off

I am a bit out of the loop, what happens July 16?

I have a BBQ that day with the family.

[fluidjax]

admittedly i have been afk for a while.

i have stumbled across this:

https://medium.com/@DCGco/bitcoin-scaling-agreement-at-consensus-2017-133521fe9a77


are you fucking kidding me?


BUY till your keyboard breaks!! welcome to the beginning of bitcoin's future.

From the headlines I've seen...Segwit2x is like calling the surveillance law the PATRIOT Act. It does not mean what you think it means. People agreed on it thinking it was Segwit plus 2Mb blocks. This is not so.

why am i not surprised...

i see nothing has changed here in bitcoin land.

I don't agree, this is a change, if things proceed as they now look, Wu Clan has clearly made a concession in allowing Segwit with the unenforceable promise of a 2Meg hard fork in 3 months (max).
My feeling is that everyone wants to just get past the Segwit activation, and then we can deal with the elephant in the room.

After 1st August, bearing in mind the concession, the fact that the  lightning network may take a year or two to implement on Segwit, and the Hong Kong agreement; the 2M block expansion needs careful consideration. Compromise is difficult, but sometimes necessary (I haven't decided my own stance yet).



Already 75% of miners are signalling Segwit2X
https://coin.dance/blocks

[Last of the V8s]

the date to watch is 16 July.

I am a bit out of the loop, what happens July 16?

I have a BBQ that day with the family.

proof of steak?
afaiu garzik farts about thusly:  "July 14 - Agreement Participants Install and Test Milestone
   - July 21 - Nodes Running & Signaling[sic] begins" https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-May/000000.html
my op corrected, thanks

[marcus_of_augustus]

Anyone else had a gutsful of these fucking chinese miners?!

How fucking stupid do they have to be to screw the golden goose that has delivered them such riches??

Communist education must have turned off the higher reasoning areas of their brains. I mean, I can't even ... how fucking dumb do they have to be ...?

[Last of the V8s]

Anyone else had a gutsful of these fucking chinese miners?!

How fucking stupid do they have to be to screw the golden goose that has delivered them such riches??

Communist education must have turned off the higher reasoning areas of their brains. I mean, I can't even ... how fucking dumb do they have to be ...?

For now, I don't lump them all together. Most of them seem to be rebelling against bitmain with their premature signalling. How many of them will get their mines closed down for the effrontery, or have to move province in the middle of the night, remains to be seen.
( http://en.people.cn/n3/2017/0601/c90000-9223021.html
https://www.cryptocoinsnews.com/chinese-police-shut-illegal-bitcoin-mining-farm/
https://www.cryptoninjas.net/2017/06/14/companies-forced-leave-relocate-china-provincial-hotbed-bitcoin-mining/
https://cointelegraph.com/news/amid-bitcoin-trading-resurgence-chinese-miners-shut-down-without-warning )

[ridery99]

Anyone else had a gutsful of these fucking chinese miners?!

How fucking stupid do they have to be to screw the golden goose that has delivered them such riches??

Communist education must have turned off the higher reasoning areas of their brains. I mean, I can't even ... how fucking dumb do they have to be ...?

Calm down and buy some Litecoin already 

[conspirosphere.tk]

Anyone else had a gutsful of these fucking chinese miners?!

How fucking stupid do they have to be to screw the golden goose that has delivered them such riches??

Communist education must have turned off the higher reasoning areas of their brains. I mean, I can't even ... how fucking dumb do they have to be ...?

The most plausible explanation is that they're actually operatives servicing some hidden hand.

Now I'm making a connection with the recent news of the closure of some mining farm in China by the gov:
http://bitsonline.com/chinese-bitcoin-mines-shut/

http://bitcoinist.com/chinese-bitcoin-miners-closing/

maybe because they were not going along with the program?

[elebit]

Already 75% of miners are signalling Segwit2X

No. They signal their intent to signal for segwit2x.

(And segwit2x users are supposed to signal for segwit. Let's hope they follow through.)

A bit nitpicky perhaps, but at this point it's kind of imporant to be particular about it, since most of the concern regards stalling the upgrade.

[fluidjax]

Already 75% of miners are signalling Segwit2X

No. They signal their intent to signal for segwit2x.

(And segwit2x users are supposed to signal for segwit. Let's hope they follow through.)

A bit nitpicky perhaps, but at this point it's kind of imporant to be particular about it, since most of the concern regards stalling the upgrade.

I actually thought about saying that, but didn't bother, but you are of course right.
The proof is only in the doing, as anyone can signal for anything and strip the code out to actually support the implementation.

[Torque]

From the headlines I've seen...Segwit2x is like calling the surveillance law the PATRIOT Act. It does not mean what you think it means. People A bunch of shithead manager suits agreed on it thinking it was Segwit plus 2Mb blocks. This is not so.

FTFY