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

[leowonderful]

WTF? So is Roger Ver full of shit? Is this BCC fork thing not happening now?

I swear to the gods, if that guy and the whole lot of them was bullshitting this whole time about a fork, then I think it's time to gather up the torches, pitchforks, and some rope, fellas. We need to end this FUD garbage once and for all.

Maybe they just wanted us to send all our coins to exchange addresses so blockchain analysis companies have an easier time tracking addresses. Tinfoil hat off. You never know what's going on in the minds of people, who knows what might have been the real motive.

[BlindMayorBitcorn]

[infofront]

Whats the scoop on trezor, can you move BCC directly to an exchange from there ? I wanna dump that garbage first thing tom morning

They are going to do a firmware update to the Trezor, and it will include some process to move the BCC to different addresses. No firm date when the firmware will be available. You may have to wait, and by that time, your BCC will probably be dust unless you have lots of BTC.

https://blog.trezor.io/bitcoin-cash-hard-fork-chain-split-safe-guide-abbe3e9c553f

Does ledger's coin splitting process occur more quickly?

If you want to be safe, it's kind of irrelevant. I wouldn't be moving any coins anywhere for at least 2 days or so anyway.

My plan is to HODL for a little while, and wait for a dead cat bounce. I may possibly wait for a Ver/Jihan/Big Blocker pump. I'd be surprised if they just let BCC get permanently ground into dust right from the start.

[infofront]

WTF? So is Roger Ver full of shit? Is this BCC fork thing not happening now?

I swear to the gods, if that guy and the whole lot of them was bullshitting this whole time about a fork, then I think it's time to gather up the torches, pitchforks, and some rope, fellas. We need to end this FUD garbage once and for all.

Maybe they just wanted us to send all our coins to exchange addresses so blockchain analysis companies have an easier time tracking addresses. Tinfoil hat off. You never know what's going on in the minds of people, who knows what might have been the real motive.

Haha, Jeff Garzik must be making a killing if that's the case. He was probably the evil mastermind who had this all planned out since 2010!

[empowering]

Hmm, but what about BIP148? I thought that was at midnight.

Correct, but seeing as of block 477120 miners have been rejecting blocks that are not signalling BIP 141 (bit 1) via the BIP 91 doesn't that make BIP 148 effectively obsolete ? I believe that majority of hash power would have had to be achieved by the deadline that the USAF guys set/wanted i.e Aug 1st otherwise they would have pushed to activate SegWit through USAF BIP 148 August 1 00:00 UTC but this is already being achieved via BIP 91 - so any users running Bip 148 nodes will be rejecting any non 1 bit blocks. Backward compatible anyways (and currently around 15% of nodes are running UASF/Bip 148 Nodes)  and looks like Segwit BIP 141 will lock in 8th Aug

[empowering]

... Impending BCC Dump and Pump and Dump and Dump?!

0_o

[JayJuanGee]

Confusing because I thought that BIP148 was a non-issue and that BIP91 pretty much nullified BIP148 because it accomplishes the same objectives that are outlined in BIP148 and even BIP148 has language to the effect that it is nullified if segwit BIP141 is in the process of locking in or maybe it has to be locked in for BIP148 to be nullified?

It is very confusing indeed. Here is my understanding, but I might be wrong, feel free to correct me.

UASF (BIP148) is logically redundant because of BIP91, which share the same SegWit (BIP141) implementation, but with a different activation time: as I'm writing this, there are still 1325 blocks remaining before BIP141 is expected to lock in, while BIP148 starts just about now. But using SegWit before BIP141 activates would be silly because SegWit requires "protection" from network consensus made for SegWit (sorry for the massive oversimplification), and there are not enough BIP148 nodes on the network to offer this.

I don't know if you are correct or not; however, my thoughts were that whether BIP148 would technically activate at midnight 8/1 and technically there are rules that might fall in place because of its existence - nonetheless, I thought that a large majority of nodes and/or miners are just ignoring the fuck out of BIP148 because it has ben surplanted by BIP91, et al.

Sure, BIP148 was very likely a motivator that got folks moving in terms of segwit2x and also BIP91 that attempts to reconcile segwit2x with BIP141 - and BIP 148 is no longer in the formula of motivators because it already did what it had to do - which is get some nodes and miners from sitting on their hands and to make some progress towards BIP141 - otherwise the threat of BIP148 was looming in the background.

Yeah, BIP148 may have also served as a model and motivator for the whole Bitcoincash hardfork to be propagandized and propagated by folks who did not like the way the whole BIP91 jumped into the space to cause a very decent likelihood of segwit without the 2x part.. and they wanted to link the 2x part, and it became more and more and more clear that the 2x part was likely not going to follow because there was not sufficient support for such.. so what the fuck.. hardfork anyhow, whether you have support or not... goofballs. 

[bitserve]

Whats the scoop on trezor, can you move BCC directly to an exchange from there ? I wanna dump that garbage first thing tom morning

They are going to do a firmware update to the Trezor, and it will include some process to move the BCC to different addresses. No firm date when the firmware will be available. You may have to wait, and by that time, your BCC will probably be dust unless you have lots of BTC.

https://blog.trezor.io/bitcoin-cash-hard-fork-chain-split-safe-guide-abbe3e9c553f

Does ledger's coin splitting process occur more quickly?

https://blog.ledger.co/securing-your-free-bitcoin-cash-stash-d50aff765688

Right after fork they will enable a BTC/BCC selector in the chrome app similar to the one already in place for ETH/ETC. So it will be pretty easy and straightforward.

[marcus_of_augustus]

No Fork?

[InvoKing]

No Fork?
-snip-

No Fork for you 
Oops breaking...News: BIP148 activated with no split or other issues. The Bcash split will happen later today (UTC).

[empowering]

Isn't BCC more of a ....... splinter at the moment than a fork or a split?

Unless we are going to get stabbed in the back with a fork by surprise of course... from an attacker hiding in the shadows... waiting to pounce.


Pesky Bitcoiners ;/

[bones261]

Isn't BCC more of a ....... splinter at the moment than a fork or a split?

Unless we are going to get stabbed in the back with a fork by surprise of course... from an attacker hiding in the shadows... waiting to pounce.


Pesky Bitcoiners ;/

A schism is probably the most suitable term. And just think, BCC has Bitcoin Jesus on their side.  

[empowering]

Isn't BCC more of a ....... splinter at the moment than a fork or a split?

Unless we are going to get stabbed in the back with a fork by surprise of course... from an attacker hiding in the shadows... waiting to pounce.


Pesky Bitcoiners ;/

A schism is probably the most suitable term. And just think, BCC has Bitcoin Jesus on their side. 

But currently a schism between an elephant and ....a goat?

Who knows maybe even a baby goat? Baaah who am I kiddin'?

More like an elephant and a ferret?

[jbreher]

Remember, to get the very best view of the eclipse, you must look directly at the sun for five minutes.

Eclipse is still three weeks away.

[matt4054]

Unsurprisingly, the mempool has run so dry it's actually impressive

Code:

$ bitcoin-cli getmempoolinfo
{
  "size": 160,
  "bytes": 570044,
  "usage": 1013008,
  "maxmempool": 300000000,
  "mempoolminfee": 0.00000000
}

I guess a few more blocks and they won't even be anywhere near 1 MB

[jbreher]

Issue in a nutshell:
- On a network where miners do not honor SegWit, all segwit transactions are 'anyone can spend' transactions
- On such a network, each successful miner can spend any 'anyone can spend' transaction to himself
- As segwit is used (e.g., on a segwit-honoring network), more value gets locked up in segwit/'anyone can spend' transactions
- As more value is built up in segwit/'anyone can spend' transactions, this increases the incentive for miners to flip the network from segwit-honoring to non-segwit
- This pressure increases with increasing use of segwit. Even if initially stable, the system tends further toward instability.
The net is that smallblockers need to trust the miners -- whom they seem to already believe to be evil -- to not steal their segwit transactions.

Of course, one can convert a segwit coin back to a bitcoin by spending it to yourself in a non-segwit transaction. But that also mandates a second transaction, thereby nullifying and even reversing segwit's so-called capacity increase.

Sounds very speculative and hypothetical to me.

No. Just No.

Please employ proper logic. Every bulleted item above is a factual statement. Would you like to challenge any of these factual statements on their own merit?

Whether or not those steps get chained together in reality is currently a matter of speculation, yes. But I made no such claim. A set of factual statements is not "speculative and hypothetical".  Any speculation as to the consequences of the above has been left to the reader.

[JayJuanGee]

WTF? So is Roger Ver full of shit? Is this BCC fork thing not happening now?

I swear to the gods, if that guy and the whole lot of them was bullshitting this whole time about a fork, then I think it's time to gather up the torches, pitchforks, and some rope, fellas. We need to end this FUD garbage once and for all.

Patience grasshopper.

We still have 10 hours.   

[JayJuanGee]

Whats the scoop on trezor, can you move BCC directly to an exchange from there ? I wanna dump that garbage first thing tom morning

They are going to do a firmware update to the Trezor, and it will include some process to move the BCC to different addresses. No firm date when the firmware will be available. You may have to wait, and by that time, your BCC will probably be dust unless you have lots of BTC.

https://blog.trezor.io/bitcoin-cash-hard-fork-chain-split-safe-guide-abbe3e9c553f

Does ledger's coin splitting process occur more quickly?

If you want to be safe, it's kind of irrelevant. I wouldn't be moving any coins anywhere for at least 2 days or so anyway.

My plan is to HODL for a little while, and wait for a dead cat bounce. I may possibly wait for a Ver/Jihan/Big Blocker pump. I'd be surprised if they just let BCC get permanently ground into dust right from the start.

I was not planning to move anything , and I agree with you that a couple of days may be a minimum expectation.  I was just wondering if Bones, or anyone else, might know if Ledger already has some kind of splitting software (or firmware) that is already in place?

[jbreher]

WTF? So is Roger Ver full of shit? Is this BCC fork thing not happening now?

Well, if nobody mines it, there can be no fork.

I swear to the gods, if that guy and the whole lot of them was bullshitting this whole time about a fork,

I'm completely serious in my support for the Bitcoin Cash efforts. But it has been years since I controlled any hashpower. I'm at the mercy of the miners like the rest of y'all.

Of course, the accelerated difficulty adjustment will keep ratcheting down 20% every 12 hours, until it is minable by GPU. If it makes ya feel any better, if it goes that long, I'll mine the first damned fork block. I've still got one of those USB FPGA hashing dongles around here somewhere...

[jbreher]

How much powder for a four-fortissimo?

Come to think of it, weren't exploding noisemakers the thing that landed someone in the hoosegow?