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

[alexeft]

Fees are calculated per byte not per transaction so a miner is notionally indifferent to mining 5 normal or 10 Segwit transactions.  In reality I suspect that miners are anti-Segwit because less congestion would be less fees.  

And for now, it's OK for Bitcoin network rules : https://bitcoincore.org/en/2016/10/27/segwit-upgrade-guide/

The segwit soft fork has also been designed to be both backwards and forwards compatible with all commonly-used wallets, so wallet developers and users can also independently decide whether they want to adopt segwit or continue making transactions without segregated witnesses.

We can fix that.
Users (full nodes) must enforce segwit transactions.

I guess the time will come for that as well.

[Meuh6879]

like always, we must wait 1 year (4 revisions of Bitcoin Core). 

[alexeft]

like always, we must wait 1 year (4 revisions of Bitcoin Core). 

Thumbs up!

[RayX12]

Fees are calculated per byte not per transaction so a miner is notionally indifferent to mining 5 normal or 10 Segwit transactions.  In reality I suspect that miners are anti-Segwit because less congestion would be less fees.  

And for now, it's OK for Bitcoin network rules : https://bitcoincore.org/en/2016/10/27/segwit-upgrade-guide/

The segwit soft fork has also been designed to be both backwards and forwards compatible with all commonly-used wallets, so wallet developers and users can also independently decide whether they want to adopt segwit or continue making transactions without segregated witnesses.

We can fix that.
Users (full nodes) must enforce segwit transactions.

I guess the time will come for that as well.

Any place to see segwit adoption of Miners & Core Nodes?
I have gone to https://coin.dance/nodes#share
But it does not say how many core nodes are actually accepting segwit.  I suppose some nodes have not upgraded and therefore cannot support segwit.

And also the miners here do not show which ones support segwit.. I assume that most of them by now?
https://coin.dance/blocks

And YES I hope they can enforce segwit very soon!  The BTC price will go BOOM!  Finish that BITCH once and for all.

[Searing]

like always, we must wait 1 year (4 revisions of Bitcoin Core). 

If I was bitcoin core...I'd either

1) pull Lighting out of my hat....and get some of that moving..razzle dazzle etc

or

2) do a hard fork, just to slap down Bitcoin Cash to about 800 bucks again at most, might not

be ideal, but better the decentralized group slap the BCH spam'ing centralized group now with a hard fork, I figure, then watch 'Rome burns'

with ludicrous fees!

(Actually, if I was core, I'd be pissed off enough to just do both...then all that BCH would come home to 'mama'



A daydream I know..but how long can core put up with the spam'ing and high transaction fees w/o hard fork

on their part? not sure....seems sucky to be bitcoin core right now unless all or some of the above is done "pronto"

yeah, yeah, I know ...if wishes were horses...etc/etc

Brad

[RayX12]

like always, we must wait 1 year (4 revisions of Bitcoin Core). 

If I was bitcoin core...I'd either

1) pull Lighting out of my hat....and get some of that moving..razzle dazzle etc

or

2) do a hard fork, just to slap down Bitcoin Cash to about 800 bucks again at most, might not

be ideal, but better the decentralized group slap the BCH spam'ing centralized group now with a hard fork, I figure, then watch 'Rome burns'

with ludicrous fees!

(Actually, if I was core, I'd be pissed off enough to just do both...then all that BCH would come home to 'mama'



A daydream I know..but how long can core put up with the spam'ing and high transaction fees w/o hard fork

on their part? not sure....seems sucky to be bitcoin core right now unless all or some of the above is done "pronto"

yeah, yeah, I know ...if wishes were horses...etc/etc

Brad

Why not give the BITCH some of their own medicine and span the living shit our of their blocks?

[gentlemand]

Why not give the BITCH some of their own medicine and span the living shit our of their blocks?

Because the only people who can do that are Bitmain, and they're busy spamming Bitcoin.

Non Bitmain BTC miners are too busy collecting vast fees.

[alexeft]

Fees are calculated per byte not per transaction so a miner is notionally indifferent to mining 5 normal or 10 Segwit transactions.  In reality I suspect that miners are anti-Segwit because less congestion would be less fees.  

And for now, it's OK for Bitcoin network rules : https://bitcoincore.org/en/2016/10/27/segwit-upgrade-guide/

The segwit soft fork has also been designed to be both backwards and forwards compatible with all commonly-used wallets, so wallet developers and users can also independently decide whether they want to adopt segwit or continue making transactions without segregated witnesses.

We can fix that.
Users (full nodes) must enforce segwit transactions.

I guess the time will come for that as well.

Any place to see segwit adoption of Miners & Core Nodes?
I have gone to https://coin.dance/nodes#share
But it does not say how many core nodes are actually accepting segwit.  I suppose some nodes have not upgraded and therefore cannot support segwit.

And also the miners here do not show which ones support segwit.. I assume that most of them by now?
https://coin.dance/blocks

And YES I hope they can enforce segwit very soon!  The BTC price will go BOOM!  Finish that BITCH once and for all.

Abything above Satoshi version 0.13 supports segwit.

https://charts.bitcointicker.co/#nodeversions

[bitserve]

like always, we must wait 1 year (4 revisions of Bitcoin Core).  

If I was bitcoin core...I'd either

1) pull Lighting out of my hat....and get some of that moving..razzle dazzle etc

or

2) do a hard fork, just to slap down Bitcoin Cash to about 800 bucks again at most, might not

be ideal, but better the decentralized group slap the BCH spam'ing centralized group now with a hard fork, I figure, then watch 'Rome burns'

with ludicrous fees!

(Actually, if I was core, I'd be pissed off enough to just do both...then all that BCH would come home to 'mama'



A daydream I know..but how long can core put up with the spam'ing and high transaction fees w/o hard fork

on their part? not sure....seems sucky to be bitcoin core right now unless all or some of the above is done "pronto"

yeah, yeah, I know ...if wishes were horses...etc/etc

Brad

Why not give the BITCH some of their own medicine and span the living shit our of their blocks?

Because:

- Spamming would not be be cheap
- It has bigger blocks than Bitcoin
- And, more importantly, almost noone really uses it

In those circumstances, spamming it would cost a bunch of millions to really have any effect.

[Torque]

Why not give the BITCH some of their own medicine and span the living shit our of their blocks?

Because the only people who can do that are Bitmain, and they're busy spamming Bitcoin.

Non Bitmain BTC miners are too busy collecting vast fees.

Exactly. But one day, mining hardware competition will come. Mining pool competition will come.

I'm not worried.

In the early 1990's, there were only a few companies that made reliable modems. The only onramp people had to the WWW. And these companies enjoyed a monopoly.... for a while.

That's why I'm not worried about Bitmain. Their day of reckoning will come.

[AlcoHoDL]

Why not give the BITCH some of their own medicine and span the living shit our of their blocks?

Because Bitcoin is not supported by an organized mafia gang like Bcash is... Bitcoin isn't managed or "owned" by arrogant, selfish, sociopathic egomaniacs like Jihan Wu and Roger Ver. Bitcoin is the good student in the class, while Bcash is the bullying gang. But their time will come. Soon enough.

[gentlemand]

Exactly. But one day, mining hardware competition will come. Mining pool competition will come.

I'm not worried.

In the early 1990's, there were only a few companies that made reliable modems. The only onramp people had to the WWW. And these companies enjoyed a monopoly.... for a while.

That's why I'm not worried about Bitmain. Their day of reckoning will come.

Any theories as to why they've been out front for so long? They're just a bunch of people. I don't understand why no one else in the world has caught up already.

[Torque]

Any theories as to why they've been out front for so long? They're just a bunch of people. I don't understand why no one else in the world has caught up already.

TBH, I don't either. They should be able to clone the hardware, so I assume it's the start up costs associated with tooling and production of Bitcoin miners. But you would think that by now we would start to see some commodification emerging in that area, as well as some innovations and efficiencies.

[alexeft]

Exactly. But one day, mining hardware competition will come. Mining pool competition will come.

I'm not worried.

In the early 1990's, there were only a few companies that made reliable modems. The only onramp people had to the WWW. And these companies enjoyed a monopoly.... for a while.

That's why I'm not worried about Bitmain. Their day of reckoning will come.

Any theories as to why they've been out front for so long? They're just a bunch of people. I don't understand why no one else in the world has caught up already.

Bitmain patented a way to use a bug in bitcoin code, so that their miners were some percent faster than others'. That bug was gone when segwit came. Bshit still has it though, hence the real reason for the fork (at least one of them)!  

Bshit is much fast, very network, such wow!

[savetherainforest]

A deep pocket bull just put some money down:

https://www.wsj.com/articles/a-million-dollar-bet-that-bitcoin-will-hit-50-000-1513809578?mod=e2tw

Make it cached next time for those who don't want to subscribe, make an account or give any F^$ks about making one.


https://webcache.googleusercontent.com/search?q=cache:NBR2RPtrrbsJ:https://www.wsj.com/articles/a-million-dollar-bet-that-bitcoin-will-hit-50-000-1513809578



Suck it!!! Take that WSJ shilling enterprise!!!

[Torque]

Just fyi, we may some EOY selling. Pretty typical in the equities world.

[xhomerx10]

Bitcoin gets spammed by the Ver/Wu cartel to make it seem that the network is congested and slow, and needs a block size upgrade.

The BCash camp calls it a conspiracy theory. Because no one would ever consciously do such a thing right?

Orly?

http://www.businessinsider.com/apple-battery-throttling-gives-customers-reason-to-distrust-2017-12

What ? BCash is Apple ?

More like Bitcoin is Steve Jobs and BCash is Tim Crook.

[Ludwig Von]

[/quote]

More like Bitcoin is Steve Jobs and BCash is Tim Crook.
[/quote]



[/quote]

Good one, I always make that lapsus too... .

[conspirosphere.tk]

When is it anticipated that all the bull shit spam transactions will stop? Over 248k unconfirmed transactions is ridiculous, I haven’t checked but I assume a massive % of those are spam.

When more large miners will enter in the scene so that Jihad's spam fees won't return to the spammer.

[alexeft]

For those worrying:

1) Blocks really contain more transactions as tim passes. That's segwit at work.
https://blockchain.info/charts/n-transactions-per-block?timespan=all

2) Median confirmation time is still the same (fee is higher though).
https://blockchain.info/charts/median-confirmation-time?timespan=all

3) New people are really pouring in! Stop seeing spam everywhere!
https://blockchain.info/charts/n-unique-addresses?timespan=all