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

[Meuh6879]

Yep ... less than 1Mb  





And pretty volumes for a day of end of week + 2016 blocks warning in action.




Canadian Exchanges are ... high !

[d_eddie]

Malicious mining cartel isn't good for anybody. We need Luke to threaten another POW change. That always helps.

It is my opinion that a PoW change should be devised, engineered, tested and put in the code ready to activate. Activation should not involve any kind of miner support, of course. It should on the contrary assume miners will fight back.

The new PoW should have suitable tweakable parameters. Certain choices for parameter values would basically leave the PoW as it is, and other choices would be more disruptive. There should be signaling to get a feel for the available hashpower with different PoW's/parameter choices.

If the machinery works well enough, this could become the weapon that will never have to be used.

[fluidjax]

Malicious mining cartel isn't good for anybody. We need Luke to threaten another POW change. That always helps.

It is my opinion that a PoW change should be devised, engineered, tested and put in the code ready to activate. Activation should not involve any kind of miner support, of course. It should on the contrary assume miners will fight back.

The new PoW should have suitable tweakable parameters. Certain choices for parameter values would basically leave the PoW as it is, and other choices would be more disruptive. There should be signaling to get a feel for the available hashpower with different PoW's/parameter choices.

If the machinery works well enough, this could become the weapon that will never have to be used.

A POW change needs to be kept secret until released, this prevents pre-prepared attacks from malicious miners, and an ASIC head start.
LukeJr has already completed a POW change, where the hashing algorithm can be changed at the last minute. But POW change has got to be a last resort, it opens the network up to all kinds of abuse, many of the enemies have very deep pockets.   

[Dakustaking76]

Can someone explain me what is happening right now...? I am
Confused 


I see poeple are saying that bip141 is not good for btc And even bip91 is locked in..

There is still a big big chance of splitting btc on 2 coins..

Thanks for your explination

[BlindMayorBitcorn]

Can someone explain me what is happening right now...? I am
Confused  


I see poeple are saying that bip141 is not good for btc And even bip91 is locked in..

There is still a big big chance of splitting btc on 2 coins..

Thanks for your explination

A chain split is inevitable at this point. (Correct me if I'm wrong.) You don't have to do anything except pray.

[d_eddie]

Malicious mining cartel isn't good for anybody. We need Luke to threaten another POW change. That always helps.

It is my opinion that a PoW change should be devised, engineered, tested and put in the code ready to activate. Activation should not involve any kind of miner support, of course. It should on the contrary assume miners will fight back.

The new PoW should have suitable tweakable parameters. Certain choices for parameter values would basically leave the PoW as it is, and other choices would be more disruptive. There should be signaling to get a feel for the available hashpower with different PoW's/parameter choices.

If the machinery works well enough, this could become the weapon that will never have to be used.

A POW change needs to be kept secret until released, this prevents pre-prepared attacks from malicious miners, and an ASIC head start.

Not necessarily. The parameters might be coefficients in a linear combination of probability/frequency distribution for several algos. Good luck designing an ASIC that can do all of them. Besides, a RAM-hungry algo makes ASICs economically nonviable. It could be one of the several algos, just to enforce mining by non-specialized hardware with a specified frequency.

By the way, wouldn't a sudden unannounced PoW change freeze BTC for days?

LukeJr has already completed a POW change, where the hashing algorithm can be changed at the last minute. But POW change has got to be a last resort, it opens the network up to all kinds of abuse, many of the enemies have very deep pockets.  

It seems to me that the mere threat of a PoW change ready to trigger might be as effective, without being so disruptive - as long as it's only crouching. I guess it would drive an ASIC designer nuts to assess the production and stocking of several board types which would possibly lie unsold until forever.

[sirazimuth]

Can someone explain me what is happening right now...? I am
Confused  


I see poeple are saying that bip141 is not good for btc And even bip91 is locked in..

There is still a big big chance of splitting btc on 2 coins..

Thanks for your explination

A chain split is inevitable at this point. (Correct me if I'm wrong.) You don't have to do anything except pray.

https://www.youtube.com/watch?v=3gzDmVwI2JY

[Last of the V8s]

https://www.btcforkmonitor.info/ useful
All quiet on the western front.

[TrumpD]

Can someone explain me what is happening right now...? I am
Confused  


I see poeple are saying that bip141 is not good for btc And even bip91 is locked in..

There is still a big big chance of splitting btc on 2 coins..

Thanks for your explination

A chain split is inevitable at this point. (Correct me if I'm wrong.) You don't have to do anything except pray.

Where are you getting this from? Why are you absolutely sure there will be a chain split? Or are you just fudding?

[bitserve]

2247 Unconfirmed Transactions <- Is that a record low in quite some time?

Have anyone checked the balances of the well known exchange wallets to get an idea of what percentage of coins have been withdrawn? I don't think it is a huge percentage, just a feeling....

P.S.: Wow 939 Unconfirmed Transactions .... Basically we are up to date...

yes and I noticed blocks are no longer full for quite some time now.

I wonder if all those 'spam' transactions that were being used to jam up the network but got dumped when the mempool was overflowing are recorded on some device somewhere waiting to get periodically rebroadcast and can now be mined for fees?

That's an interesting idea. Besides having those tx's recorded somwhere, they should have to check before if the inputs have already been spent, or the transaction was already passed into blockchain or risk the entire block being rejected (a $35.000 mistake) but.... seems plausible.

I wonder if the fact that all miners have been rebooting their nodes almost all at once (to do the necessary upgrades) have had some effect on clearing the mempool. I do supposse the mempool may have some replicating capacity (I really donno) but maybe it have had an impact?

[BlindMayorBitcorn]

Can someone explain me what is happening right now...? I am
Confused  


I see poeple are saying that bip141 is not good for btc And even bip91 is locked in..

There is still a big big chance of splitting btc on 2 coins..

Thanks for your explination

A chain split is inevitable at this point. (Correct me if I'm wrong.) You don't have to do anything except pray.

Where are you getting this from? Why are you absolutely sure there will be a chain split? Or are you just fudding?

I don't need a weatherman to know which way the wind blows.

Feel free to correct me if I'm wrong.

[bitserve]

ViaBTC wanting to fork off an altcoin at the worst possible moment does NOT imply a chain split.

It's just another altcoin. Nothing to see here.

They decided to fork on a freeze of the Bitcoin blockchain? Cool, thanks for that, I will use those BCC wisely.

[BlindMayorBitcorn]

ViaBTC wanting to fork off an altcoin at the worst possible moment does NOT imply a chain split.

It's just another altcoin. Nothing to see here.

Horse hockey!

[European Central Bank]

A chain split is inevitable at this point. (Correct me if I'm wrong.) You don't have to do anything except pray.

wrong. a chain split has been averted. an alt is being created.

[Dakustaking76]

No im not fudding, i read someone off the topics about that bip141 is bad for the btc
So i am confused  

[BlindMayorBitcorn]

A chain split is inevitable at this point. (Correct me if I'm wrong.) You don't have to do anything except pray.

wrong. a chain split has been averted. an alt is being created.

That sounds like a religious distinction. I'm not sure I see it.

are you just fudding?

DRINK PAINT RUN RUN

[bitserve]

No im not fudding, i read someone off the topics about that bip141 is bad for the btc
So i am confused  

BIP141 (SEGWIT) bad for BTC?

Ok, I'll repeat once more time... The scaling process is going perfectly smooth, much better than many people expected. Thus the rise. It is not all over, but everything is going smoothly atm and the projection is good.

[bones261]

I'm not sure why changing the POW algo to an Asic resistant GPU friendly algo would really stop a centralization trend. GPUs use electricity, correct? Part of the problem with the "Chinese mining cartel" is that they can get cheaper electricity. Correct? What's to prevent them from just establishing huge GPU mining farms and shutting out the little guys again? Not to mention that the bigger guys will be able to get a deal on the GPUS since they would be able to buy in huge bulk.

[yonton]

There is no chainsplit relax

[bitserve]

I'm not sure why changing the POW algo to an Asic resistant GPU friendly algo would really stop a centralization trend. GPUs use electricity, correct? Part of the problem with the "Chinese mining cartel" is that they can get cheaper electricity. Correct? What's to prevent them from just establishing huge GPU mining farms and shutting out the little guys again?

Fully agree. PLus they already have huge GPU farms that currently are mining other coins but could switch to BTC in no time.

It would be useful as a punish to some evil ASIC manufacturers and mining pools though.