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

[Torque]

Yes, they will be invalid. If 1 BTC is 5 BCC, and you spend 1 BCC, then you can't spend it again in the other chain. In other words, you will have 0.8 BTC.

But I hope I'm wrong and you can sell BCC for BTC and vice-versa, like any alt coin.

They would be two completely separate blockchains, where transactions of one coin can only be made on its own chain (because of two way replay protection), and cannot affect the "ledger" of the other chain in any way.

[fabiorem]

Yes, they will be invalid. If 1 BTC is 5 BCC, and you spend 1 BCC, then you can't spend it again in the other chain. In other words, you will have 0.8 BTC.

But I hope I'm wrong and you can sell BCC for BTC and vice-versa, like any alt coin.

They would be two completely separate blockchains, where transactions of one coin can only be made on its own chain (because of two way replay protection), and cannot affect the other chain in any way.

But will they use the same bitcoin addresses? I read that, to claim BCC, you have to put your BTC address in the ABC wallet.

[BlindMayorBitcorn]

The only ones that aim to sell BCC right after the fork are the ones that are buying BTC in the last days.

BTC holders will hold both coins because they know better than the greedy people trying to make a quick buck.

This reminds me of the cookie experiment. Sit a kid down in front of a cookie, tell kid if he can wait five minutes he'll get two cookies. Psychologists like to speculate that well adjusted children will be able to wait. But sometimes adults lie. So savvy kids eat the cookie and bounce.

I don't think I know the moral of this story.

Kids like cookies.

[Torque]

Yes, they will be invalid. If 1 BTC is 5 BCC, and you spend 1 BCC, then you can't spend it again in the other chain. In other words, you will have 0.8 BTC.

But I hope I'm wrong and you can sell BCC for BTC and vice-versa, like any alt coin.

They would be two completely separate blockchains, where transactions of one coin can only be made on its own chain (because of two way replay protection), and cannot affect the other chain in any way.

But will they use the same bitcoin addresses? I read that, to claim BCC, you have to put your BTC address in the ABC wallet.

This is what Trezor has to say:

"Will Bitcoin Cash addresses be different from Bitcoin addresses?

Your Bitcoin Cash addresses are also derived from your seed, but with different parameters. As they are made specifically for Bitcoin Cash, there will be no overlap with the original Bitcoin, which increases your privacy. This also means that you should not send bitcoins on a Bitcoin Cash address and vice versa.

The Bitcoin Cash BIP44 derivation path for addresses is:

m/44'/145'/
"

[fabiorem]

Yes, they will be invalid. If 1 BTC is 5 BCC, and you spend 1 BCC, then you can't spend it again in the other chain. In other words, you will have 0.8 BTC.

But I hope I'm wrong and you can sell BCC for BTC and vice-versa, like any alt coin.

They would be two completely separate blockchains, where transactions of one coin can only be made on its own chain (because of two way replay protection), and cannot affect the other chain in any way.

But will they use the same bitcoin addresses? I read that, to claim BCC, you have to put your BTC address in the ABC wallet.

This is what Trezor has to say:

"Will Bitcoin Cash addresses be different from Bitcoin addresses?

Your Bitcoin Cash addresses are also derived from your seed, but with different parameters. As they are made specifically for Bitcoin Cash, there will be no overlap with the original Bitcoin, which increases your privacy. This also means that you should not send bitcoins on a Bitcoin Cash address and vice versa.

The Bitcoin Cash BIP44 derivation path for addresses is:

m/44'/145'/
"

So you have to split the coins before sending it, maybe using some command line.

Well, that's better. I was fearful because I read that, to claim BCC, you have to put your BTC address in a ABC wallet, and so BCC would appear to be claimed. Then I was wondering if BCC wasnt just another representation of BTC in another chain, using other code, and in the end they would be the same coin.

[becoin]

Yes, they will be invalid. If 1 BTC is 5 BCC, and you spend 1 BCC, then you can't spend it again in the other chain. In other words, you will have 0.8 BTC.

But I hope I'm wrong and you can sell BCC for BTC and vice-versa, like any alt coin.

They would be two completely separate blockchains, where transactions of one coin can only be made on its own chain (because of two way replay protection), and cannot affect the other chain in any way.

But will they use the same bitcoin addresses? I read that, to claim BCC, you have to put your BTC address in the ABC wallet.

Never do that if you have unspent bitcoins on this address! After the fork is activated FIRST move your bitcoins to another bitcoin address and just after that put your empty BTC address in your BTCCrooked ABC wallet!

[fabiorem]

Yes, they will be invalid. If 1 BTC is 5 BCC, and you spend 1 BCC, then you can't spend it again in the other chain. In other words, you will have 0.8 BTC.

But I hope I'm wrong and you can sell BCC for BTC and vice-versa, like any alt coin.

They would be two completely separate blockchains, where transactions of one coin can only be made on its own chain (because of two way replay protection), and cannot affect the other chain in any way.

But will they use the same bitcoin addresses? I read that, to claim BCC, you have to put your BTC address in the ABC wallet.

Never do that if you have unspent bitcoins on this address! After the fork is activated FIRST move your bitcoins to another bitcoin address and just after that put your empty BTC address in your BTCCrooked ABC wallet!

Actually I'm not going to even touch it.

I was worried about the market, if people start dumping BCC and it uses the same addresses as BTC, then BTC will de dumped altogether.

[trackermut]

Evening gents, been reading your posts regarding moving coins to cold storage as per usual plenty info, thanks. Sure most long term holders already have plans in place for 1st August. So where dose this leave liquidity on the exchanges over the next 3 days? are we in for a wild ride.

[jbreher]

Well that clears that up. You all obviously haven't got a pot to piss in.

Sure I do. I keep it next to my bed, in case I awake with the need to tap a vein.

Such veiled threats.

Haha. Well, it's a lot to me. But certainly not enough to move markets. Alone, AAR.

No, the pump will be in renminbi.

Not unimaginable.

[BlindMayorBitcorn]

Evening gents, been reading your posts regarding moving coins to cold storage as per usual plenty info, thanks. Sure most long term holders already have plans in place for 1st August. So where dose this leave liquidity on the exchanges over the next 3 days? are we in for a wild ride.

It plans to be the Bitcoin equivalent of the 1812 Overture complete with cannon fire and party hats. Bring a friend.

[JayJuanGee]

Yeah.. it is quite tragic that bitcoin has not broken ATH for 6 weeks.  In other words, we are fucked.  

JJG, I like how you read into what people say and twist it to suit your bias/agenda, as opposed to what they actually say.

And, you are one of the most dramatic online personas that I have ever met... You go all out on some tangent about how you are suggesting that there is little to no possibility that we are going to go up from here, and part of your evidence for such assertion is that we have not broken ATH for 6 weeks.  Your way of expressing yourself already has ongoing built-in drama, so I don't see how I could be twisting what you are saying.. because you already said what you gonna say.

Which is why no one here actually takes you seriously, or really cares what you think. Like at all. You're like the special needs court jester of the WO.   Tolerated for the amusement factor but that's all.

Sure, what you say here is funny.  however, there you go with the Royal "we" again.  Frequently, attempting to assert some supposed lack of credible substance on my end.  I frequently talk substance, and with you I usually need to tailor a bit in order to attempt to respond to your ongoing DRAMA!!!!!!!!!       

[jojo69]

and burning trains and rockets

[trackermut]

Evening gents, been reading your posts regarding moving coins to cold storage as per usual plenty info, thanks. Sure most long term holders already have plans in place for 1st August. So where dose this leave liquidity on the exchanges over the next 3 days? are we in for a wild ride.

It plans to be the Bitcoin equivalent of the 1812 Overture complete with cannon fire and party hats. Bring a friend.

Pmsl Brilliant love the analogy, thanks

[sirazimuth]

well as bittrex is supporting the new bitcoin-shitcoin ,
might as well just dump convert all my bittrex hot wallet dust back to btc. hey if its free, its for me!!

[Torque]

I have seen a few new accounts here regularly in the last year. But has anyone ever noticed how many threads in this sub forum that are started or replied to by accounts that never seem to post or reply in the WO thread?

It's like there's this whole other ecosystem outside of WO in the Spec forum, where constant concern trolling posts or inane/repetitive questions are being asked and replied to daily.  Most are same old questions, new day, by throw away troll accounts. I never bother with most of those threads unless I see an interesting post by someone I've seen in here regularly with at least a year or two of posting, or if it is someone fairly new with a genuine or interesting thought.

Maybe I should make a new thread about it.  

[bitserve]

Next year, please don't fucking focus all the fucking drama in the fucking middle of the summer. It's unhelathy. I shouldn't be having to fucking care about all this Bitcoin related stuff at this fucking time instead of just caring about my fucking suntan.

I am bit pissed, btw.

Anyway.... to the fucking moon!

That's all I am gonna say at this time.

[podyx]

Hey so what do I need to do before august 1? I have some on exchange, do I need to send them to a wallet?

[jojo69]

Hey so what do I need to do before august 1? I have some on exchange, do I need to send them to a wallet?

that is what most seem to be suggesting

[JayJuanGee]

JJG, I like how you read into what people say and twist it to suit your bias/agenda, as opposed to what they actually say.

Which is why no one here actually takes you seriously, or really cares what you think. Like at all. You're like the special needs court jester of the WO.   Tolerated for the amusement factor but that's all.

Please, please, pleeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeez. stop quoting him.

Oh?   Because, you, PoolMinor, likely have some better theories about what is going to cause the price to move in one direction or another...   By now, you have probably covered your short from the lower $1,000s, right?  One nutjob joining forces with another kind of nutjob.      Maybe should try to find some humor in this?       

[Icygreen]

So an already thin market will be paper thin on the 1st.  What could possibly happen.