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

[gentlemand]

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

Of course it is. And it's all part of the big block hijack plan.

It can't be stopped unless BCH becomes worthless to mine. We'll have to wait and see with that.

Miners are not our friends and they're not supposed to be, though it certainly has been taken a little further than I ever expected.

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[BlindMayorBitcorn]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

[TheFlynn49]

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

Of course it is. And it's all part of the big block hijack plan.

It can't be stopped unless BCH becomes worthless to mine. We'll have to wait and see with that.

Miners are not our friends and they're not supposed to be, though it certainly has been taken a little further than I ever expected.

Why do you people think that is a problem ? Bitcoin was working fine with 1/1000 of this hashrate not very long ago ...

[Gab0]

This is why I don't see any problem with the fees. If you can't afford those fees just use fiat banking. Bitcoin is for people that do value their money, financial freedom and privacy.

Your vision of what should be bitcoin, is far from being the one that initially captivated so many people, developers, investors, etc...
In a third world country, it is really important to have a payment system that is not banked. At the beginning bitcoin was very useful and very popular for those reasons. I do not plan to pay my coffee with bitcoin (and I hope I can do it with LN at some point), but every day bitcoin loses more and more utility in my country. And I'm frustrated to see that every day bitcoin becomes a tool for large investors, banks or investment funds, and ordinary people, on the street, are excluded.
And it seems to me, according to my humble opinion and what I have researched, that an increase to 2MB of block size is far from representing a danger or a problem to decentralization (especially when working on the optimization of block size) .
This increase would be a gesture of goodwill towards the community and would avoid all these discussions and hatred.

[BlindMayorBitcorn]

And seriously where is Loaded? Our side is weak beans.

[gentlemand]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

Time to do your duty, son.

You first.

[becoin]

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

It is problem for bitcoin but it is death for the altcoin. With this speed all 21 million shitcoins will be mined next year. And then nobody will look at it because it was created to offer low fee txs.

[BlindMayorBitcorn]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

Time to do your duty, son.

You first.

Ok, I have a plan. It doesn't involve pants. Hear me out...

[erre]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side

[gentlemand]

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side

Is there not one extremely simple reason why it would be pointless?

No one's using it for fuck all so they wouldn't care and they're used to a frozen blockchain anyway. If it fatally broke who'd give a shit other than Mr. Wu?

It's the polar opposite for BTC which is why it stings so much more. People are actually using it in real life and this is preventing them from doing so.

Bitcoin's biggest comparative strength is also a yawning vulnerability because of it.

[becoin]

Why are we not attacking bch?

Because nobody cares about bch. Miners will suck its blood and will throw it in the ditch.

[Kuriso]

This is not a nice place to be now. Bcash is toxic and has caused major problems.

This thread has become divided and I for one am not enjoying coming here anymore.

I hope you bcash twats are happy. I'm off.

Thats what they want.  They want to wear you down.  Don't let them

[AlexGR]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side

Bch spamming would actually be zero cost because its mempool is empty. You could fill 8mb blocks pretty quickly. In fact, with something like 500 blocks per day, you could add +3 to +4gb of spam in there for nothing (in terms of cost).

A more "real" cost would be bitcoiners who wouldn't even bother downloading a 400-500-700gb chain to cash out their bch for btc. So that would "add" a bit in terms of bch price preservation.

[julian071]

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

This whole mining thing and the way it's organized really is a weak point of BTC.

[AZwarel]

This is why I don't see any problem with the fees. If you can't afford those fees just use fiat banking. Bitcoin is for people that do value their money, financial freedom and privacy.

Your vision of what should be bitcoin, is far from being the one that initially captivated so many people, developers, investors, etc...
In a third world country, it is really important to have a payment system that is not banked. At the beginning bitcoin was very useful and very popular for those reasons. I do not plan to pay my coffee with bitcoin (and I hope I can do it with LN at some point), but every day bitcoin loses more and more utility in my country. And I'm frustrated to see that every day bitcoin becomes a tool for large investors, banks or investment funds, and ordinary people, on the street, are excluded.
And it seems to me, according to my humble opinion and what I have researched, that an increase to 2MB of block size is far from representing a danger or a problem to decentralization (especially when working on the optimization of block size) .
This increase would be a gesture of goodwill towards the community and would avoid all these discussions and hatred.

Fees are high - apart from the spam attack -, because demand for blockspace is higher than the supply (and always will be). 2MB/4MB/1024MB wouldn't change it, there are near infinite demand for using the blockchain's utilities; time will always be an unchangeable limit for competing transactions, no matter the blocksize.

Stop bitching about it, that is what called free market, those who value the utility/time/cost of their transactions will outcompete those who do not, same as with every goods/services with free market valuation.

Also, how are high fees a sign of failure?
Classic socialist person thinking:
"this restaurant is full, it is clearly failing because I can not eat here, RIGHT NOW, for the price i esteem "FAIR" for a table, bruh bruh "
Sorry, you just got outpriced by the market.

[Elwar]

It isn't much cheaper to spam bigger blocks. Why is this attack so one-sided?

I asked myself this too... spamming bch mempool would be only 8 times more costly, even more cheap because 1 bch is 1/5 of a btc in usd terms.

Why are we not attacking bch? Seems that we are have not evil manipulators on our side

It's more profitable to just sell your BCH for bitcoins than to worry about their forked chain.

[ragnar0k]

EToro just added BCH to the coins available, if nothing its gaining visibility. I wonder how many other surprises they have

[Hyperjacked]

This is not a nice place to be now. Bcash is toxic and has caused major problems.

This thread has become divided and I for one am not enjoying coming here anymore.

I hope you bcash twats are happy. I'm off.

Thats what they want.  They want to wear you down.  Don't let them

Don't assume everyone is like you...

All the best rjclarke2000

[monsanto]

Maybe BTC and BCH community can set aside their differences and destroy BTG 

[RoomBot]

Congrats. Bitcoin is successfully cleaning itself from Wus, Vers, Rights, and other rats. Future for Bitcoin is bright!

what if they just made more money?

They probably did. Doesn't matter. Obvious pump and dump is obvious, their credibility is shot.

Look at what these hypocrites are posting, have they no shame?
https://twitter.com/ProfFaustus/status/929276396295393280

Being pathetic to the floor, while doing exactly opposite of what they are talking.

That is really beyond the pale....

Look at his Twitter profile word salad:  INCOMPREHENSIBLE!!

Dr Craig S WrightVerified account
@ProfFaustus
My opinions are my own Eternal student and Researcher Plugging Bitcoin from as long as it was Lawyer, Banker, Economist, Coder, Investor, Mathematician & Stats