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

[Syke]

It's MIT-riced Lambos now.

[BitcoinNewsMagazine]

Here is the message quoted from the bitcoin-segwit2x mailing list confirming that the hard fork is suspended:

The Segwit2x effort began in May with a simple purpose:  to increase the blocksize and improve Bitcoin scalability. At the time, the Bitcoin community was in crisis after nearly 3 years of heavy debate, and consensus for Segwit seemed like a distant mirage with only 30% support among miners. Segwit2x found its first success in August, as it broke the deadlock and quickly led to Segwit’s successful activation. Since that time, the team shifted its efforts to phase two of the project - a 2MB blocksize increase.

Our goal has always been a smooth upgrade for Bitcoin.  Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x.

As fees rise on the blockchain, we believe it will eventually become obvious that on-chain capacity increases are necessary. When that happens, we hope the community will come together and find a solution, possibly with a blocksize increase. Until then, we are suspending our plans for the upcoming 2MB upgrade.

We want to thank everyone that contributed constructively to Segwit2x, whether you were in favor or against. Your efforts are what makes Bitcoin great. Bitcoin remains the greatest form of money mankind has ever seen, and we remain dedicated to protecting and fostering its growth worldwide.

Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees

[sgk]

[DeathAngel]

Here is the message quoted from the bitcoin-segwit2x mailing list confirming that the hard fork is suspended:

The Segwit2x effort began in May with a simple purpose:  to increase the blocksize and improve Bitcoin scalability. At the time, the Bitcoin community was in crisis after nearly 3 years of heavy debate, and consensus for Segwit seemed like a distant mirage with only 30% support among miners. Segwit2x found its first success in August, as it broke the deadlock and quickly led to Segwit’s successful activation. Since that time, the team shifted its efforts to phase two of the project - a 2MB blocksize increase.

Our goal has always been a smooth upgrade for Bitcoin.  Although we strongly believe in the need for a larger blocksize, there is something we believe is even more important: keeping the community together. Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x.

As fees rise on the blockchain, we believe it will eventually become obvious that on-chain capacity increases are necessary. When that happens, we hope the community will come together and find a solution, possibly with a blocksize increase. Until then, we are suspending our plans for the upcoming 2MB upgrade.

We want to thank everyone that contributed constructively to Segwit2x, whether you were in favor or against. Your efforts are what makes Bitcoin great. Bitcoin remains the greatest form of money mankind has ever seen, and we remain dedicated to protecting and fostering its growth worldwide.

Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees

Looks like this is the reason for the pump then? Would definitely make sense.

[Arriemoller]

The x2 chain, in a darwinist/capitalist context, is more likely to survive than the x1 chain.

The highlighted aspect says to me - fear of being poor. That's why they won't disrupt how Bitcoin is operating and that informs all behaviour in this space.

or..., that is why they will provide the network with better features that make it more competitive in relation to its environment.
Every biologically immutable being is doomed to disappear with respect to those who do. Homo sapiens vs Homo erectus.

If that's  the case, why did VHS survive and Betamax die?

Standard Betamax tapes lasted 60 minutes — not long enough to record a movie. Conversely, the 3-hour VHS tapes were perfect for recording television programmes and movies

I remember watching, and renting, movies on Betamax

[micalith]

lol   "Segwit2x got cancelled?"    

[Biro Bob]

Hodl.. This is coming to a Lambo dealer near you (maybe)

Can I get a tow bar with that? I need to pull a trailer.

[realsteelboy]

That pump from 7500 to 7850 was quite enjoyable 

[600watt]

The real question is will we get a Bitcoinity gif at 8000?

yep, that is my main concern, too.

[ragnar0k]

One spit away from becoming parabolic on log... Amazing!
Maybe it can still happen, one week to go to the fork

[jojo69]

[rolling]

One spit away from becoming parabolic on log... Amazing!
Maybe it can still happen, one week to go to the fork

There is no fork.

[fabiorem]

Segwit 2x guys just threw in the towel - bullish as fuck?

https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000685.html

...
Our goal has always been a smooth upgrade for Bitcoin.  Although we
strongly believe in the need for a larger blocksize, there is something we
believe is even more important: keeping the community together.
Unfortunately, it is clear that we have not built sufficient consensus for
a clean blocksize upgrade at this time. Continuing on the current path
could divide the community and be a setback to Bitcoin’s growth. This was
never the goal of Segwit2x.
...

That's good news.

The lack of RP would cause a catastrophe. Even here on this forum there are people saying the fork is "free coins", even with all the information about RP repeated ad nauseum. The noobishness is appaling. They would dump it and lose their BTC, panic would ensure, price would drop to sub-5k levels and everybody would lose, including the miners and the B2X guys.

[petahashminer]

fork canceled

 

[Rub3n]

What a bump/news... to be continued

[bildo]

Had planned to buy some more coins this morning but didn't get a chance, really wish I had now.

Now.... Do I wait for this to finish or do people think this is going to be a long-term boom? THINK, not hope!  

[ragnar0k]

One spit away from becoming parabolic on log... Amazing!
Maybe it can still happen, one week to go to the fork

There is no fork.

Holy...

[jojo69]

We can celebrate, but let's not gloat guys.

I, for one, praise the S2X camp for achieving the internal consensus to pull back from the brink.

We will eventually, in a safe and orderly manner, address their concerns regarding scaling.

In the end, they behaved like rational adults.  Perhaps we can have nice things.

[Ibian]

So, what kind of forky bullshit do we still have to look forward to? Or was that it?

[aesma]

I decided a couple days ago to trade a bit (fiat/BTC, from dumping my BCH) considering the high volatility. I had set up sell orders at 6550€, 6600€, 6650€, they were blown through in a matter of minutes.

And of course now I can't connect to Kraken to set up buy orders...