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

[jbreher]

Btw imagine bch or bsv having a 51% attack while their communities have preached that hashrate is all that matters.

I don't see what you are getting at. Doing such would seem to validate the hypothesis.

You really believe the bch or bsv community wouldn't throw fits during a 51% attack instead of saying well that just means we didn't have enough hash?

A 51% 'attack' is merely evidence that 'the community' did not realize that the actual community was a group other than that which they assumed.

Btw what coin would you follow if they both did forks and revert the 51% attacks ?

I'm not sure I understand your question - care to rephrase?

I in no way can see you standing for a reversal of transactions.

At the risk of repeating myself: chain reorgs do not reverse transactions.

I'm saying that if there is a successful 51% attack and the community decides to do a fork at the time before the transactions, where would you stand?

Well, that could depend upon any number of collateral situations. But my initial knee-jerk reaction would be to follow the chain with the preponderance of hash rate. How do you discern a 51% 'attack' as opposed to all situations normal?

[Toxic2040]

If history is anything to go by then we know that today's prices are irrelevant. Just look at Amazon crashing into the ground and now being the most valuable company in the world.

Not saying BSV will get anywhere, but still. Non-argument.

Whilst I appreciate loyalty, there is no argument. The market decided a long time ago. Some people just have failed to realize it. I was stating what I believe are facts. #dyor

Facts are only such after the fact, and in this case history has yet to unfold.

The market isn't even at the size of a wet fart today. Things can change very quickly as the world on-boards.

I still don't think BSV will pull ahead, but the race certainly isn't over. I mean Trump is president and people are being publicly apologetic to the sexualization of children. We don't live in a rational world.

These two points I will publicly agree with you on...but I'm warning you mister..I have my limits.   

Was that supposed to sting or something?

Yes.

Too bad, so sad. Your intent to kick another when 'down' was ineffectual.

bubble burst...will try harder next time.   


Now quit spamming my spam.

[vapourminer]

a race to the bottom?

No. A race to the top.

i think we are referring to the same thing just from opposite directions. iow as it costs more and more to maintain a node, those with proportionally less incentive will drop out.

if this is what you mean, then when does it stop. ultimately there will be only a few nodes that can afford to run bsv, and everyone just trusts those nodes? sounds like central banking to me.

is there any upper limit? i am genuinely curious.

Well, there's currently an upper limit that is not too atrocious. The story for the future is no upper limit.

Implicit in your question would seem to be the philosophy that the system should be limited in order to allow those with no skin in the game to be first-class citizens. Why do you believe this to be appropriate?

You would think that those that abdicated the mining to those willing to take the risk would have learned this lesson already.

3rd class is good enough for me. i just want the capability to, if needed, occasionally fully validate the blockchain on something that most people could reasonably afford, even if its just to transfer value in or out of the system occasionally. such as an aws instance or something that could validate the chain in a reasonable amount of time as opposed to realtime. that someone could run a few times a year as needed just to make sure the current chain is valid and is trustworthy enough to send/receive a tx... at least at that point.

with bsv it seems it would ultimately wind up with only one manufacturer/company running its own "pool" that has a enormous percentage of the hash would have the incentive to run a node.. with means that manufacturer/company/pool effectively controls the chain.

[jbreher]

You could keep using your legacy non-segwit coins BUT... I guess you would have some problem forcing other people to send you coins that fulfill your "full legacy trace" requirement. In fact you probably already have that problem, don't you?

Not at all. To a first order approximation (i.e., the overwhelming majority), I have no reason to move BTC in or out. But for those coins that I do move: If someone wants me to pay to their SegWit address, that's no skin off my nose; For inbound, I provide a legacy address to pay to. Easy peasy.

[alevlaslo]

Bitcoin increases blocksize and shows it was indeed needing to have larger blocks (which then are filled with nonsense and can push nodes off)

Larger blocks are inanimate. Regardless of size, blocks do not have the power to 'push (so-called) nodes off' of anything. Bitcoin does not owe you a position in its network. Either expend the resources required, or drop to the side in your inability to keep up. Decision is fully yours. Own it.

BTC will not be able to increase the block size because in this case it will have to cancel the Seqwit, which will not allow the signed transactions from Satoshi's wallets to work in January 2020

I think you are mistaken. I know of no technical limitation that makes SegWit incompatible with a future block size increase.

what meaning in seqwit if the block will increased?

[alevlaslo]

BTC 8 tps
BCH 80 tps
BSV 800 tps

There are shitcoins with over 10k tps. Should we dump BSV for them?

they are without proof of work, they are not cryptocurrencies

[bitserve]

You could keep using your legacy non-segwit coins BUT... I guess you would have some problem forcing other people to send you coins that fulfill your "full legacy trace" requirement. In fact you probably already have that problem, don't you?

Not at all. To a first order approximation (i.e., the overwhelming majority), I have no reason to move BTC in or out. But for those coins that I do move: If someone wants me to pay to their SegWit address, that's no skin off my nose; For inbound, I provide a legacy address to pay to. Easy peasy.

Ok.

So then if the condition of Bitcoin blocks having a very reasonable 80% peak (maybe hourly averaged) capacity by whatever means, even if that implies only a moderate blocksize increase plus other L2 alleviating solutions... your confidence/preference in Bitcoin would be restored and not keep insisting that BSV is better because: Bigger blocks (even if noone use them), no segwit, no LN, etc?

I am just trying to determine if your main concern is only about congestion or if there additional unsolvable (like considering bigger blocks is ALWAYS better) issues here.

[Paashaas]

[Raja_MBZ]

Too many people around expecting a dump; I think a nice $1k jump can really help at the moment.

[JSRAW]

@paashaas: That artist is very talented. I love his work. He got some nice meme collection  in his Twitter account.  Very sarcastic!!

His site if anyone wanna check out his work.

https://www.phneep.com

[Toxic2040]

Too many people around expecting a dump; I think a nice $1k jump can really help at the moment.

The market can remain irrational longer than you can remain solvent.

Still trending upwards and sideways on momentum but we have wicked through the top of the cloud indicating developing weakness. #dyor

12h

#stronghands'19

[kenzawak]

@JSRAW not sure you'll read this but congrats on being accepted in the Bustadice campaign. I was rooting for you, you deserve it.  
And you don't have to leave the hat !

[LFC_Bitcoin]

they are without proof of work, they are not cryptocurrencies

Paging Janitorial Services: Extreme Mess Case in Aisle #50827959

Requesting flamethrowers, pitchforks, and marshmallows.

Don’t feed the troll BLB. I’ve been guilty of it myself already today but I think that’s what he wants. Desperate for attention, what a loser.

His Mum probably tried to drown him at birth or something but just couldn’t go through with it.

The guy needs serious help.

[encycrypto]

I think the guy is talking about the coins that are able to achieve thousands of TPS, almost none of them are PoW. They work on Masternodes, PoS, centralization, etc.

[bones261]

they are without proof of work, they are not cryptocurrencies

Paging Janitorial Services: Extreme Mess Case in Aisle #50827959

Requesting flamethrowers, pitchforks, and marshmallows.

Don't forget the chocolate and graham crackers. Nothing like some s'mores to ease the irritation caused by SV fanbois. We might as well break out a package of hot dogs, too.

[LFC_Bitcoin]

I think the guy is talking about the coins that are able to achieve thousands of TPS, almost none of them are PoW. They work on Masternodes, PoS, centralization, etc.

Bragging about a coin that is able to achieve thousands of TPS is all very good if people actually use it.
Shame for him that SV is a piece of shit that has blocks as empty as r0ach’s little black book.

[JSRAW]

@JSRAW not sure you'll read this but congrats on being accepted in the Bustadice campaign. I was rooting for you, you deserve it.  
And you don't have to leave the hat !

Thanks a lot bro, appreciate that😁 yeah with hat on, its bonus and enjoy your traveling and keep updating us on regular basis.

[kenzawak]

enjoy your traveling and keep updating us on regular basis.

I will, I should have a few surprises very soon. 

[LFC_Bitcoin]

enjoy your traveling and keep updating us on regular basis.

I will, I should have a few surprises very soon. 

I’m going to Budapest in May. Going to ‘do a kenzawak’ & see how geared up for bitcoin they are
Going to try & see if I can pay somewhere in bitcoin for something....anything

[Last of the V8s]

https://www.youtube.com/watch?v=w2nsf7hYmxw
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