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

[windjc]

At this point, it seems close to impossible that we don't test the all time closing high of 229 on Bitstamp today. Or tomorrow at the latest.

What is the all time intra day high on bitstamp?

$260ish I believe.

[Its About Sharing]

walsoraj and bears, now you have grounds to predict an imminent crash:


Bitcoin Researchers: You Can Game the System

http://mashable.com/2013/11/04/bitcoin-cornell-researchers/



Selfish miners gonna kill bitcoin , In USD we trust  

How is it that they have no requirement to understand anything in the university concerning the topic they are researching...?

I was wondering if what they said was even possible. I never heard of hiding found blocks and the like.

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

[barbs]

226.97 on stamp. shit is getting real

[Nemo1024]

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

[rpietila]

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

Or at a bare minimum, not contributing anything that has not been there since day 1.

[justusranvier]

Coinbase price for buying BTC is now $5 more expensive then Mt Gox spot!

[DougTanner]

Rally continues on Stamp.

[rocks]

walsoraj and bears, now you have grounds to predict an imminent crash:


Bitcoin Researchers: You Can Game the System

http://mashable.com/2013/11/04/bitcoin-cornell-researchers/



Selfish miners gonna kill bitcoin , In USD we trust  

How is it that they have no requirement to understand anything in the university concerning the topic they are researching...?

I was wondering if what they said was even possible. I never heard of hiding found blocks and the like.

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

Yes you can mine on any block created.

But this only makes sense if the pool has 51% of the hash rate, otherwise the public chain will statistically grow longer.

This is also why you wait at least 6 confirmations to consider a transaction valid. A sub 50% pool can statistically mine on an alternate hidden chain for a few blocks from time to time.

In practice no one has done this because it is wasting your mining power and revenue. ...

[Adrian-x]

What exactly is this rally running on right now?

Fake volume in china by all the criminals who fled FINCEN registered exchanges.

This bubble will inflate further and burst even louder than the last one.

I doubt the 'criminals' you say will actually move fiat, so FinCEN is irrelevant..

Yes they will they use HSBC and the like. The fines they pay FinCEN are larger than the Bitcoin market cap.

[Adrian-x]

What exactly is this rally running on right now?

Fake volume in china by all the criminals who fled FINCEN registered exchanges.

This bubble will inflate further and burst even louder than the last one.

*bearlogic*

If it inflates more than 350, that's no bubble. That's a miracle. Actually if it stays above 300 is a miracle.

Lol just the fact Bitcoin exists is a miracle, the fact it's above $2. Makes me think there is a God.

[Walsoraj]

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

No, it's not a 51% attack. But similarly, it does depend on miners doing something that will eventually hurt their own investment.

[ElectricMucus]

Looks like they are talking about 51% attack and blockchain forking, without actually understanding what they talk about...

No, it's not a 51% attack. But similarly, it does depend on miners doing something that will eventually hurt their own investment.

It's a 26% attack. Not really a big deal tough.

[barbs]

is there a better way to view stamp's activity? bitcoinity seems delayed and processing trades in batches..

Trading.i286.org doesn't have working stamp activity..

BTW F* u Gox - nice 450 coin buy on stamp.. wow

[Syke]

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

Sure, you can mine a block, not publish it, and continue mining. But unless your pool has 51% of the network, the odds are the rest of the network will invalidate the block you are hiding, and then you've just lost a block and have to start over. It does nothing to harm the network, just yourself.

[ChartBuddy]

[maz]

Funds cleared,

You may now crash in your own time bitcoin. Preferably sooner rather than later.....

[barbs]

Funds cleared,

You may now crash in your own time bitcoin. Preferably sooner rather than later.....

What are you hoping for?

[Ivanhoe]

is there a better way to view stamp's activity? bitcoinity seems delayed and processing trades in batches..

Trading.i286.org doesn't have working stamp activity..

BTW F* u Gox - nice 450 coin buy on stamp.. wow

http://bitcoinwisdom.com/

[maz]

Funds cleared,

You may now crash in your own time bitcoin. Preferably sooner rather than later.....

What are you hoping for?

I'm hoping for Fibonacci's evil twin, Fibocrashy!

[BitchicksHusband]

While all miners work from the most recently discovered block (think of it as the "original" block), the selfish mining process begins when a pool of miners discovers a new block and doesn't publish it. The selfish pool then begins working on discovering yet another block, mining from this hidden one. Meanwhile, the rest of the "honest" miners are still wasting resources mining from the original block.

Can you mine FROM a "hidden" block? This makes no sense to me.

Sure, you can mine a block, not publish it, and continue mining. But unless your pool has 51% of the network, the odds are the rest of the network will invalidate the block you are hiding, and then you've just lost a block and have to start over. It does nothing to harm the network, just yourself.

From what I read, the attack requires them to find 2 blocks before anyone else finding the same first one they found.  Easier said than done.  The averages are WAY against it.  You might get away with it once or twice ever, but it's certainly not going to bring down bitcoin.