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

[AlexGR]

BTC -160915 Unconfirmed  transactions and rising  

Is this an attack? Is it orchestrated by the you know who's?

It's more like BCH trying to survive. All things being equal (sha256, 10 minutes block target) a lower value chain cannot attract enough miners to operate at a proper functional level. It is destined to experience periods of very slow blocks and then very fast blocks, as difficulty readjusts.

In order to circumvent this, asymmetric mining (bumps difficulty down every once in a while when blocks are slow - but has no counterbalancing slowing down to cure the extra emission) has been employed which increases the inflation rate a lot. In BCH's short life, it has already pumped out 120.000 more coins[1] to become "more attractive" for mining. This is not sustainable for multiple reasons.

If you fix the much-increased inflation rate to become more viable for the future, then you lose your attractiveness as a mining option - because all things being equal, the coins mined are less valuable. Plus BTC also offers fee incentives (3-4-5-6 btc per block).

The only hope that BCH has if it wants to survive (without a non-viable inflationary emission), is to increase its value. A lot. This pump might have been related to trying to make BCH a bit more viable prior to its next hard fork that will supposedly "fix" the asymmetric inflationary emission. But if this gets fixed, then you go back to being unattractive for mining - and thus getting a slow chain that can only be maintained by the "charity" of miners who operate at a loss, or rape-mined when its difficulty is low enough to attract mining attention (and then left hanging at a high diff again).

I don't see how this can get fixed...


[1]
Bitcoin 16,675,925 BTC
Bitcoin Cash 16,796,225 BCH (+120300 coins)

[Ibian]

the boredom of a constant bullish run.

 

I don't always have problems, but when I do, it's problems about how absurdly rich I'm getting.

[Ibian]

I don't see how this can get fixed...

It can't. And that is cause for CELEBRATION! The sooner this shitcoin dies the better.

[jbreher]

Can you name one advantage BCH offers over LTC or other ALTs?

Simple. Bitcoin Cash is purely Bitcoin. Shitcoins be shitcoins. Not too hard, is it?

[vroom]

Can you name one advantage BCH offers over LTC or other ALTs?

Simple. Bitcoin Cash is purely Bitcoin. Shitcoins be shitcoins. Not too hard, is it?

please stop confusing bitcoin cash with bitcoin.

[mattimann]

Can you name one advantage BCH offers over LTC or other ALTs?

Simple. Bitcoin Cash is purely Bitcoin. Shitcoins be shitcoins. Not too hard, is it?

Let me fix that for xou:

Simple. Bitcoin Cash is like any other Shitcoin. Not too hard, is it?

[Ibian]

Can you name one advantage BCH offers over LTC or other ALTs?

Simple. Bitcoin Cash is purely Bitcoin. Shitcoins be shitcoins. Not too hard, is it?

Ideology is not an argument. Would you like to try again, comrade?

[ImI]

[Can you name one advantage BCH offers over LTC or other ALTs?

Just a little reminder about what Bitcoin was originally planned to be:

https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

And then think again which of the lately numerous Bitcoin-versions comes closest to this vision and therefore would rightly deserve to call itself "Bitcoin".

Hint. It may eventually not be the version you are prefering.

[Hyperjacked]

What matters is the hash rate ! Bitcoin is slow and has expensive transaction fees and it has sucked for a long time! Call me a troll but it's the truth...

[Ibian]

[Can you name one advantage BCH offers over LTC or other ALTs?

Just a little reminder about what Bitcoin was originally planned to be:

https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

And then think again which of the lately numerous Bitcoin-versions comes closest to this vision and therefore would rightly deserve to call itself "Bitcoin".

Hint. It may eventually not be the version you are prefering.

Bitcoin is whatever my wallet accepts.

Most bitcoiners have no clue about the forking wars, especially recent ones, which outnumber the old hats. Suddenly announcing that bitcoin is now something else, and that what they spent money on is not really bitcoin any longer, would be just about the worst thing we could do. The media would have a field day with it as well.

[El duderino_]

What matters is the hash rate ! Bitcoin is slow and has expensive transaction fees and it has sucked for a long time! Call me a troll but it's the truth...

BTC is too cheap for This world of today

[ivomm]

BitCH:

[gembitz]

BTC -160915 Unconfirmed  transactions and rising  

Is this an attack? Is it orchestrated by the you know who's?

It's more like BCH trying to survive. All things being equal (sha256, 10 minutes block target) a lower value chain cannot attract enough miners to operate at a proper functional level. It is destined to experience periods of very slow blocks and then very fast blocks, as difficulty readjusts.

In order to circumvent this, asymmetric mining (bumps difficulty down every once in a while when blocks are slow - but has no counterbalancing slowing down to cure the extra emission) has been employed which increases the inflation rate a lot. In BCH's short life, it has already pumped out 120.000 more coins[1] to become "more attractive" for mining. This is not sustainable for multiple reasons.

If you fix the much-increased inflation rate to become more viable for the future, then you lose your attractiveness as a mining option - because all things being equal, the coins mined are less valuable. Plus BTC also offers fee incentives (3-4-5-6 btc per block).

The only hope that BCH has if it wants to survive (without a non-viable inflationary emission), is to increase its value. A lot. This pump might have been related to trying to make BCH a bit more viable prior to its next hard fork that will supposedly "fix" the asymmetric inflationary emission. But if this gets fixed, then you go back to being unattractive for mining - and thus getting a slow chain that can only be maintained by the "charity" of miners who operate at a loss, or rape-mined when its difficulty is low enough to attract mining attention (and then left hanging at a high diff again).

I don't see how this can get fixed...


[1]
Bitcoin 16,675,925 BTC
Bitcoin Cash 16,796,225 BCH (+120300 coins)

does BCH buys bath salts ye or nah :-D lol

[Torque]

Bitcoin is whatever my wallet accepts.

Bitcoin is also:

"Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator."

The bolded parts are what any person with a half a brain can see are NOT reflective of BCH. Not reflective of BCH in control, in mining, nor in exchange volume. I wouldn't even call BCH a worldwide currency, because nowhere can you even buy it with fiat, or spend it on anything with any merchant.

Ya know, it gets tiresome to have the same argument over and over again with these nitwit trolls. For years now the same argument. They bring up high transaction fees as the issue, which BTC supporters acknowledge as needing to be solved. But then when BTC supporters bring up maintenance of mining decentralization as the ROOT issue, then the BXT/BU/BCH/2X supporters never acknowledge or agree, just ignore that point, hand-wave it off, and run away. End of discussion. Every. Single. Time.

That's why I know this has never been a debate about what's best for Bitcoin's longevity. It's been either about gaining control of, or about crushing Bitcoin.

No BCH is not Bitcoin. It is right at this moment a fledgling, shitty PayPal 2.0 (with no merchants) and that's all it will ever be.

[Imbatman]

I sold a bit of my free BCH last night.  I bought back BTC, but I'm wondering about this BCH hard fork that is happening in a day or so.

Will there be another coin created from that?  I want to dump more BCH but I'm wondering if price stays propped up just a bit for that reason?

[Higher Altitude]

Time for btc to go crazy and hit +140%

I'm backing that move . if only I had loads of fiat

Same thoughts here. If only I could take up a credit of a couple hundred thousand dollars.

[becoin]

The miners switch networks to provoke a correction, to ensure the bulls can rest a little.

Bulls can't rest because growing number of people are awaiting a decent correction to jump into bitcoin for the first time. This is why we have new ATH shortly after every such correction.

[Hyperjacked]

Bitcoin is whatever my wallet accepts.

Bitcoin is also:

"Bitcoin is a worldwide cryptocurrency and digital payment system called the first decentralized digital currency, as the system works without a central repository or single administrator."

The bolded parts are what any person with a half a brain can see are NOT reflective of BCH. Not reflective of BCH in control, in mining, nor in exchange volume. I wouldn't even call BCH a worldwide currency, because nowhere can you even buy it with fiat, or spend it on anything with any merchant.

Ya know, it gets tiresome to have the same argument over and over again with these nitwit trolls. For years the same argument. They bring up high transaction fees as the issue, which BTC supporters acknowledge as needing to be solved. But then when BTC supporters bring up maintenance of mining decentralization as the ROOT issue, then the BXT/BU/BCH/2X supporters never acknowledge or agree, just ignore that point, hand-wave it off, and run away. End of discussion. Every. Single. Time.

That's why I know this has never been a debate about what's best for Bitcoin's longevity. It's been either about control, or about crushing Bitcoin.

No BCH is not Bitcoin. It is right at this moment a fledgling, shitty PayPal 2.0 and that's all it will ever be.

Look Torque... I respect you and have appreciated your perspective over the years but I think your wrong on this one. Call me a nitwit troll but I have been on the winning side for a long time  

[mattimann]

Call me what ever you like, but:

I feel, this is all about playing with us. Don´t fall for it. I can smell it... BTC will hit 10k-12k soon. Over the years we went through the same discussions again and again...
Bitcoin is unstoppable!

[oblox]

Hey Coinbase... how about you actually start broadcasting transactions. The mempool is large enough as is...