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

[hv_]

So this time bitcoin core is trying to fork?

I you're talking about Segwit 2X then no.

Core has wanted Segwit for years. Now it's going to happen, but instead of people accepting Segwit (which they refused for years) they accepted Segwit2X = Segwit + 2MB blocks. The Segwit part is a tested piece of code (could still have bugs though), the 2X is untested, not made by Core.

- core nodes will not recognise segwit2x blocks, so these will not be added to the core chain. At the same time 2x has no replay protection, so transactions that occur on the 2x chain can be mirrored on the core chain. It's going to be a shitshow , in my personal opinion.

Depends on how much hashpower is left for core. If this is less than ten percent it might take for ever to try the replay attack...

[Asrael999]

It's going to be a shitshow , in my personal opinion.

By launching BCH Bitmain have already fucked the NYA. Everyone else will slowly fall away.

By launching BCH Bitmain have increased their influence over the price of each chain as they can manipulate hashrate at will between them both. They've granted themselves a longer period of time in which to milk money out of the sha256 ecosystem and another mechanism with which to do so. Segwit 2x signalling remains above 90%, no sign of it falling away. Core have made their position on segwit2x very clear so I'm not sure why or how you think a negotiated agreement is possible at this point.

[Asrael999]

[quote author=hv_ link=topic=178336.msg21096445#msg21096445 date=150339844

Depends on how much hashpower is left for core. If this is less than ten percent it might take for ever to try the replay attack...
[/quote]

If core drops to 10% of the hashpower then BTC1 is effectively Bitcoin - if that happens how much more development on lightning or schnoor do you think core will bother with? Just curious

[T.Stuart]

I hope the leak hashrate from btc to bch will stop and we will see segwit in the very near future.

[empowering]

I hope BCH and x2guys die of aids of the asshole

What is everyone's hurry exactly ?

"Its because Bitcoin needs to scale to compete"  thank you for your concern

No because it is competing very well as is thanks- taking time to change and operating in a conservative way is how people with $60-$70 Billion dollars would rather this be handled..

Nope BCH and Segx2 don't care because its simply about CONTROL for them


Ah well - maybe this is what brings down BTC/BCH/SegX2

To be honest the industry is behaving like assholes-and it is doing nothing good for public perception- nor reality.

Ah well

I hope core wins out personally- guess I will have to hedge for all outcomes to bypass the shyte

[Miz4r]

It's going to be a shitshow , in my personal opinion.

By launching BCH Bitmain have already fucked the NYA. Everyone else will slowly fall away.

By launching BCH Bitmain have increased their influence over the price of each chain as they can manipulate hashrate at will between them both. They've granted themselves a longer period of time in which to milk money out of the sha256 ecosystem and another mechanism with which to do so. Segwit 2x signalling remains above 90%, no sign of it falling away. Core have made their position on segwit2x very clear so I'm not sure why or how you think a negotiated agreement is possible at this point.

Manipulating hashrate doesn't do much to influence the price, I think it will accomplish the opposite of what they want because BCH's total hashrate is now about equal with BTC's total hashrate and their difficulty will adjust again today. After this difficulty change hashrate will all move back into BTC and BCH will be left with months of extremely slow blocks lol. Imagine what that will do to the price of BCH. Maybe they will fork again to change difficulty, that should be fun to watch.

[gentlemand]

https://qz.com/1059179/huobi-and-okcoin-chinas-two-biggest-bitcoin-btc-exchanges-were-themselves-to-150-million-in-idle-client-funds/

How them zero fees were paid for is now answered. Good old China.

[cashodler]

Another pump for Bitcoin Cash? $820 peak or something?

[u9y42]

Manipulating hashrate doesn't do much to influence the price, I think it will accomplish the opposite of what they want because BCH's total hashrate is now about equal with BTC's total hashrate and their difficulty will adjust again today. After this difficulty change hashrate will all move back into BTC and BCH will be left with months of extremely slow blocks lol. Imagine what that will do to the price of BCH. Maybe they will fork again to change difficulty, that should be fun to watch.

Hmm, won't BCH's difficulty be adjusted automatically, due to the changes that were introduced with the "emergency difficulty adjustment"? That will still leave them with a few days (?) of slow blocks though, and probably other exploits to deal with in the meantime.

[Ludwig Von]

https://qz.com/1059179/huobi-and-okcoin-chinas-two-biggest-bitcoin-btc-exchanges-were-themselves-to-150-million-in-idle-client-funds/

How them zero fees were paid for is now answered. Good old China.

They learn fast... . 

[fabiorem]

If SegWit have a block size of 4mb by default, and 2x plans to increase it to 8mb, then why the specialized media keeps saying its 2mb?

The idea is that if Segwit2x chooses to go through with an attempt to hard fork the block size to 2MB, and the blockchain splits in two, replay attacks could lead some users and companies to lose money. And in the mind of advocates for Bitcoin Core, those backing the new agreement should be the ones to add replay protection.

https://www.coindesk.com/bitcoins-battle-segwit2x-begun/

[Last of the V8s]

If SegWit have a block size of 4mb by default, and 2x plans to increase it to 8mb, then why the specialized media keeps saying its 2mb?

The idea is that if Segwit2x chooses to go through with an attempt to hard fork the block size to 2MB, and the blockchain splits in two, replay attacks could lead some users and companies to lose money. And in the mind of advocates for Bitcoin Core, those backing the new agreement should be the ones to add replay protection.

https://www.coindesk.com/bitcoins-battle-segwit2x-begun/

'specialized media' are incompetent.
segwit makes block 'weight' up to 4 mb, not block size
btw the rest of their para, perhaps by chance, is ~true

edit maybe 'weight' is 1.7mb i just saw. idk.idc

[Last of the V8s]

https://qz.com/1059179/huobi-and-okcoin-chinas-two-biggest-bitcoin-btc-exchanges-were-themselves-to-150-million-in-idle-client-funds/

How them zero fees were paid for is now answered. Good old China.

very boring to have to rely on pantsuit media organs to translate these market-affecting Chinese moves for us well after the fact.
anyway, with quartz recently all over bitcoin news, must be David G. Bradley stocking up on the old coin, huh. interdasting

[aesma]

Depends on how much hashpower is left for core. If this is less than ten percent it might take for ever to try the replay attack...

If core drops to 10% of the hashpower then BTC1 is effectively Bitcoin - if that happens how much more development on lightning or schnoor do you think core will bother with? Just curious

I would rather say Bitcoin is dead and we live in a world of altcoins.

[gentlemand]

https://www.bitwala.com/bitwala-statement-segwit2x/

Bitwala's statement re the forkathon. They were also NYA signees. Most of them will bail long before November.

[Last of the V8s]

Coming up on 12 hours now with not a peep out of Kraken about why all my outgoing USD fiat wire transfers end up in a Failure state.

$100k just sitting there looking all useless.

Sheeit.

How is your Tuesday morning, friends ?

sounds really shitty. maybe tweet Trace Mayer about this?

[Torque]

It's going to be a shitshow , in my personal opinion.

By launching BCH Bitmain have already fucked the NYA. Everyone else will slowly fall away.

By launching BCH Bitmain have increased their influence over the price of each chain as they can manipulate hashrate at will between them both. They've granted themselves a longer period of time in which to milk money out of the sha256 ecosystem and another mechanism with which to do so. Segwit 2x signalling remains above 90%, no sign of it falling away. Core have made their position on segwit2x very clear so I'm not sure why or how you think a negotiated agreement is possible at this point.

Manipulating hashrate doesn't do much to influence the price, I think it will accomplish the opposite of what they want because BCH's total hashrate is now about equal with BTC's total hashrate and their difficulty will adjust again today. After this difficulty change hashrate will all move back into BTC and BCH will be left with months of extremely slow blocks lol. Imagine what that will do to the price of BCH. Maybe they will fork again to change difficulty, that should be fun to watch.

Some would call these "fork" attempts competition, when they are clearly orchestrated attacks on Bitcoin. But hey, Bitcoin is anti-fragile. What does not kill you makes you stronger.

At some point Bitcoin will tire of "catching something" again with these endless forks, and the core developers will go straight to the antibiotic: PoW algo change. Checkmate, motherfkrs.

[Torque]

Coming up on 12 hours now with not a peep out of Kraken about why all my outgoing USD fiat wire transfers end up in a Failure state.

$100k just sitting there looking all useless.

Sheeit.

How is your Tuesday morning, friends ?

So how do you know your funds are even there, and Kraken is not running a fractional reserve too?
https://qz.com/1059179/huobi-and-okcoin-chinas-two-biggest-bitcoin-btc-exchanges-were-themselves-to-150-million-in-idle-client-funds/

[podyx]

Probably gonna see a dip to 3.5k-3.7k

Beautiful bounce.

Looks like this rally ain't over yet and $10k is realistically in sight

[steelboy]

So, got a Trezor and wanted to get a little coin management done. Thought I would start with a paper wallet. Installed Electrum with the Trezor linked to it and used the sweep key function. Typed in the private key and broadcast the transaction.

That was over two hours ago and no confirmations at all. $2.40 in fees apparently, have I just gone far too low. Its a couple of hundred dollars thats been sent.