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

[STT]

Is Segwit proceeding well, I as with many people only really hear the big news on this kind of protocol debate but obviously its important longer term.

Is 3600 a good price objective in line with Fibonacci pattern.      I'm not sure I would fix it so certianly as bitcoin is obviously used in not just dollars but somewhere in that area perhaps

[1714261983]

1714261983

[empowering]

BCH update

There have been 243 blocks mined since the hard fork.

(903 blocks behind the original chain)


The Bitcoin Cash blockchain is currently operating at 13% of the original chain's difficulty.


The original chain has grown 919.19MB more than the Bitcoin Cash blockchain.


It is currently 30% more profitable to mine on the original chain.

Current price= $370

[Meuh6879]

2

http://segwit.co/

[machasm]

So if core do not want to go down the 2X route but segwit has been activated then I assume that they will have a wallet that does not accept 2X transactions right?
If a large portion of the miners migrate to this new fork will core tweak the software so that it can deal with the loss of hashpower and tweak the difficulty faster, a bit like bcash did?
If not I imagine that chain would grind to a halt until diff ratchets down which could be an age and might cause peeps to jump ship?
Or have I got this all wrong?
What are your thoughts?

[jojo69]

What are your thoughts?

nobody is jumping anything mate

[conspirosphere.tk]

If a large portion of the miners migrate to this new fork will core tweak the software so that it can deal with the loss of hashpower and tweak the difficulty faster, a bit like bcash did?
If not I imagine that chain would grind to a halt until diff ratchets down which could be an age and might cause peeps to jump ship?
Or have I got this all wrong?
What are your thoughts?

Good question. My guess is that they will forced to anyway. And the earlier they get ready for a mining war and the less damage for BTC will be.

[gentlemand]

If a large portion of the miners migrate to this new fork will core tweak the software so that it can deal with the loss of hashpower and tweak the difficulty faster, a bit like bcash did?

If all the people signalling 2x stick to the 2MB bit, there won't be anything for Core to tweak as it'll be a stone dead chain. I assume a BIP 91 esque face saving offering will come from somewhere or they might well end up on the wrong side of history. Let's see.

[Meuh6879]

1

http://segwit.co/

[Derpinheimer2]

lol

[Torque]

So as Bitcoiners, do we have a right to be pissed if there are no immediate LN related launches?

I mean, the Core devs and the rest of the community have acted like these LN technologies and apps have been coded, tested, and sitting around ready to go for the better part of a year or two now. And preaching that the miners have been blocking these 'ready-to-go LN apps' for all this time.

If I don't see something around LN immediately launched after SegWit lock-in, I'm gonna get seriously irritated.  

[Last of the V8s]

So as Bitcoiners, do we have a right to be pissed if there are no immediate LN related launches?

I mean, the Core devs and the rest of the community have acted like these LN technologies and apps have been coded, tested, and sitting around ready to go for the better part of a year or two now. And preaching that the miners have been blocking these 'ready-to-go LN apps' for all this time.

If I don't see something around LN immediately launched after SegWit lock-in, I'm gonna get seriously irritated.  

Oh ... just give it oh ... 2 weeks?

[Youghoor]

Is Segwit proceeding well, I as with many people only really hear the big news on this kind of protocol debate but obviously its important longer term.

Is 3600 a good price objective in line with Fibonacci pattern.      I'm not sure I would fix it so certianly as bitcoin is obviously used in not just dollars but somewhere in that area perhaps

Yes mate this is a bit confusing right now, but i think that if we break the support at $3600 then it can go toward $3900 and make a retracement, lets just wait and see what happens with this, at the moment segwit didnt had any impact on the price. Lets see

[Meuh6879]

Segwit is activated : http://segwit.co/

Miners can produce Segwit Boobs Blocks, now.
https://bitcoincore.org/en/2016/01/26/segwit-benefits/

Block capacity/size increase

Since old nodes will only download the witness-stripped block, they only enforce the 1 MB block size limit rule on that data. New nodes, which understand the full block with witness data, are therefore free to replace this limit with a new one, allowing for larger block sizes.

Segregated witness therefore takes advantage of this opportunity to raise the block size limit to nearly 4 MB, and adds a new cost limit to ensure blocks remain balanced in their resource use (this effectively results in an effective limit closer to 1.6 to 2 MB).

[machasm]

We have, gentlemen.

2017-08-08 18:55:40 UpdateTip: new best=0000000000000000008f2e3c9fbd378b02bc2c9ff088ba458a6e6a27fa9493ed height=479707 version=0x20000002 log2_work=86.90439 tx=244912678 date='2017-08-08 18:55:21' progress=1.000000 cache=176.7MiB(85216tx) warning='10 of last 100 blocks have unexpected version'

Locked and loaded.
You stole Meuh's thunder BobLaw! He was having a beautiful countdown :-)

[bitserve]

SEGWIT LOCK-IN THRESHOLD ACHIEVED!


SegWit lock-in this period? YES!
100 blocks left before technical lock-in.

[xyzzy099]

http://imagizer.imageshack.us/a/img921/2092/IUkDgP.jpg

Segwit is activated : http://segwit.co/

Miners can produce Segwit Boobs Blocks, now.
https://bitcoincore.org/en/2016/01/26/segwit-benefits/

Block capacity/size increase

Since old nodes will only download the witness-stripped block, they only enforce the 1 MB block size limit rule on that data. New nodes, which understand the full block with witness data, are therefore free to replace this limit with a new one, allowing for larger block sizes.

Segregated witness therefore takes advantage of this opportunity to raise the block size limit to nearly 4 MB, and adds a new cost limit to ensure blocks remain balanced in their resource use (this effectively results in an effective limit closer to 1.6 to 2 MB).

No, it is locked in, meaning it will activate at the end of the next difficulty retargetting period (two weeks).

[machasm]

So 100 more blocks until segwit is actually activated and then we will have effectively increased the blocksize to around 2MB right?

[JimboToronto]

Segwit locked in... Bitcoin price surges upward.

 

[xyzzy099]

So 100 more blocks until segwit is actually activated and then we will have effectively increased the blocksize to around 2MB right?

Not exactly - 100 blocks to official lock-in, then 2016 blocks before actual activation.

[spooderman]

WOOOO!!!!!!!!!