Major DUMP incoming due to upcoming BUChina hardfork

[jubalix]

there is no way this can go to $200 anymore, if you understand how the market work, do you think any person in his mind would sell his bitcoin bought at above $200 or above just because there is a little panic for something that is not certain?

and add to this that going at 200 will destoy mining profitablìily, do you think miners will want this? they want to any move that can lead to a disaster in their business this is guaranteed, that's why they are not deciding anything yet

there was the fat finger crash where some one on finex or something btce ? I can remeber went from about 800 to 200 or so? so it not impossible but it looks like more to error of input

[1715271290]

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[lenyro]

You are clearly mistaken and panicking because you saw 2 Antpool BU blocks. Even with Antpool signaling for BU, that is not enough for them to reach 75%. In either case, they'd end up mining an useless chain pretty quickly.

I have one silly question, why BU activation only needs 75% signaling? But SegWit needs 95%?    Shouldn't be both same as 95%?

[Lauda]

You are clearly mistaken and panicking because you saw 2 Antpool BU blocks. Even with Antpool signaling for BU, that is not enough for them to reach 75%. In either case, they'd end up mining an useless chain pretty quickly.

I have one silly question, why BU activation only needs 75% signaling? But SegWit needs 95%?    Shouldn't be both same as 95%?

You can set any % to your proposal as you'd like. However, the lower the percentage the more problems it is likely to cause. 95% is generally considered 'consensus', as 100% is usually impossible in practice. Therefore, a proposal that is adopted with a minimum of 95% is an 'upgrade'. However, in the case of 75% you are more likely to create an altcoin, i.e. split Bitcoin than to cleanly upgrade the network. Additionally, there are also calculations that with a 75% threshold it is possible to 'kick in' the activation with even less hashrate than that.

[jonald_fyookball]

You are clearly mistaken and panicking because you saw 2 Antpool BU blocks. Even with Antpool signaling for BU, that is not enough for them to reach 75%. In either case, they'd end up mining an useless chain pretty quickly.

I have one silly question, why BU activation only needs 75% signaling? But SegWit needs 95%?    Shouldn't be both same as 95%?

BU doesn't need any signaling.  It will control the longest chain today if 51% of mining power supports it.

[manselr]

aww.
there there my friend. did you sell your coins too soon? you have my sympathy...

next time make better decision about your selling price choices.

I would normally call out FUDsters, but this time it's something to seriously consider.

The ETF rejection is not that bad, it's pretty predictable it will most likely not get passed, BUT, if Jihan Wu decides to fuck shit up, we will see a chain reaction of panic selling. Stupid motherfucker is too dumb to see how he can cause another ETH/ETC armageddon in bitcoin.

[BrewMaster]

aww.
there there my friend. did you sell your coins too soon? you have my sympathy...

next time make better decision about your selling price choices.

I would normally call out FUDsters, but this time it's something to seriously consider.

The ETF rejection is not that bad, it's pretty predictable it will most likely not get passed, BUT, if Jihan Wu decides to fuck shit up, we will see a chain reaction of panic selling. Stupid motherfucker is too dumb to see how he can cause another ETH/ETC armageddon in bitcoin.

don't be naive. and stop comparing bitcoin with that ether shitcoin. that was a big mistake and the developer forked the coin without anybody accepting the for so it was left with side chain!
the recent thing about Jihan Wu is mostly drama because 2 of their blocks were signalling support for BU and it is not the end of the world. and these are not the first blocks signalling BU and this will not cause a fork.

[btcmerich]

OP, you need to calm down it is all empty talks.

The thing  i want to know is  the red candle from 1275 down to 1173 if that was panic sell from people hearning this bullshit or is it big boys trying to shake out weak hands before the 11th

[leowonderful]

Either way it didn't last as the drop ended and we're back near 1230. Got some cheap coins, this close to the ETF announcement it's best to hold and wait for the announcement. Could be good, could be bad.

[Wilhelm]

Another panic thread *YAWN*

[manselr]

aww.
there there my friend. did you sell your coins too soon? you have my sympathy...

next time make better decision about your selling price choices.

I would normally call out FUDsters, but this time it's something to seriously consider.

The ETF rejection is not that bad, it's pretty predictable it will most likely not get passed, BUT, if Jihan Wu decides to fuck shit up, we will see a chain reaction of panic selling. Stupid motherfucker is too dumb to see how he can cause another ETH/ETC armageddon in bitcoin.

don't be naive. and stop comparing bitcoin with that ether shitcoin. that was a big mistake and the developer forked the coin without anybody accepting the for so it was left with side chain!
the recent thing about Jihan Wu is mostly drama because 2 of their blocks were signalling support for BU and it is not the end of the world. and these are not the first blocks signalling BU and this will not cause a fork.

Yep but Jihan is clearly threatening by doing that. I don't know if he is bluffing or not, but im getting tired of this shit. Roger Ver with his stupid propaganda promoting BU is also annoying. It may reach a point where a fork is unavoidable, and then we will see some serious shit.

[quake313]

If the ETF gets approved it should bring some upward predictability to the price, however, if rejected along with BUChina hardfork gaining traction, I expect a much bigger drop. People are underestimating the damage BU China can do to Bitcoin.

Consider this: the BUChina community was not happy Bitcoin's value has rocketed up in recent months, they wanted the price to drop so they can point to it and say we need bigger blocks.

FYI: I have my stash and I hate Fudsters, check my post history. I am legitimately worried about China taking over Bitcoin and YOU should be too.

[Meuh6879]

BU doesn't need any signaling.  It will control the longest chain today if 51% of mining power supports it.

and all nodes reject block of BU because they override the 1Mb limit ... BU, it's only 8% of the nodes.
they will not win.

[jonald_fyookball]

BU doesn't need any signaling.  It will control the longest chain today if 51% of mining power supports it.

and all nodes reject block of BU because they override the 1Mb limit ... BU, it's only 8% of the nodes.
they will not win.
 

I wasn't speaking as to who would win.  Someone asked a question about 'signaling' and it was answered.

[SaShiRaJaVu]

There was a minor crash today and the price plunged almost $100 when news came out from China that the people's bank of China said that the regulations are not temporary but the price recovered after that ,the OP is clearly dreaming here because the price might reach $2500 at the end of the year and i suppose you dumped all your coins .

[manselr]

If the ETF gets approved it should bring some upward predictability to the price, however, if rejected along with BUChina hardfork gaining traction, I expect a much bigger drop. People are underestimating the damage BU China can do to Bitcoin.

Consider this: the BUChina community was not happy Bitcoin's value has rocketed up in recent months, they wanted the price to drop so they can point to it and say we need bigger blocks.

FYI: I have my stash and I hate Fudsters, check my post history. I am legitimately worried about China taking over Bitcoin and YOU should be too.

I think it is obvious now that Jihan Wu may be getting paid to do this, I doubt he is stupid enought to want to ruin bitcoin when is deeply invested in mining. Or maybe he is legitimatelly stupid enough to think that he can get away with the BUcoin attempt thinking everyone will go on his side as he becomes even more powerful thanks to flawed BUcoin code that would make miners even more powerful than they are already, which would be the final nail in the coffin for the project.


But they can't win. I know bitcoin, it's strong, it will generate auto immune defenses and kick this Jihan out if he doesn't cooperate.

[gentlemand]

If it happens the same thing as with Ethereum, we are all making a pretty good buck, Market Cap combined after the fork is higher than previous, plus now it is at an all time high.

Don't know what people are afraid of...

That's a whole different ball game. ETH is a pumper plaything and not much else. It doesn't really matter what happens to it.

Everything in the crypto space is underpinned by BTC. If that decides to have a funny turn then it's considerably more serious. If it can be hijacked once, then there's nothing stopping it happening repeatedly until there's nothing left. I think I'd be walking long before then.

[Lauda]

BU doesn't need any signaling.  It will control the longest chain today if 51% of mining power supports it.

Also know as a 51% attack.

the recent thing about Jihan Wu is mostly drama because 2 of their blocks were signalling support for BU and it is not the end of the world. and these are not the first blocks signalling BU and this will not cause a fork.

It is not '2' blocks, it is a few of their servers that are signalling support for BU.

and all nodes reject block of BU because they override the 1Mb limit ... BU, it's only 8% of the nodes.
they will not win.

The number is actually lower, i.e. <3%. See here: http://luke.dashjr.org/programs/bitcoin/files/charts/software.html

[jonald_fyookball]

BU doesn't need any signaling.  It will control the longest chain today if 51% of mining power supports it.

Also know as a 51% attack.

I see what you're attempting with your rhetroric.  Clever.

[quake313]

BU doesn't need any signaling.  It will control the longest chain today if 51% of mining power supports it.

Also know as a 51% attack.

I see what you're attempting with your rhetroric.  Clever.

People need to wake up and stop living in denial. China is trying to take control of Bitcoin. Anyone who agrees with BUChina does not believe in decentralization and supports the hijacking of Bitcoin.

[jonald_fyookball]

BU doesn't need any signaling.  It will control the longest chain today if 51% of mining power supports it.

Also know as a 51% attack.

I see what you're attempting with your rhetroric.  Clever.

People need to wake up and stop living in denial. China is trying to take control of Bitcoin. Anyone who agrees with BUChina does not believe in decentralization and supports the hijacking of Bitcoin.

huh?

So if China does the most work in a proof-of-work system, that means Bitcoin is hijacked?  Sorry i'm confused what you're saying here.