BUcoin is officially dead

[chopstick]

Bitcoin's marketshare has dropped below 80% for the first time.

Bitcoin businesses are dropping Bitcoin as a payment method left and right.

Yeah, bitcoin is fine. We don't need any competing implementations. All we need is Blockstream Kore. Their leadership is perfect and ONLY they know the true way forward 

Lightning Network will solve ALL our problems when it's finally released 5 years from now! /s



The truth is that BlockstreamKore are a fucking cancer that need to be removed with some kind of laxative.

If they aren't removed, then bye bye Bitcoin as the #1 Coin - Either Monero or Dash or Ethereum will take over the majority of marketshare.

[BillyBobZorton]

Bitcoin's marketshare has dropped below 80% for the first time.

Bitcoin businesses are dropping Bitcoin as a payment method left and right.

Yeah, bitcoin is fine. We don't need any competing implementations. All we need is Blockstream Kore. Their leadership is perfect and ONLY they know the true way forward  

Lightning Network will solve ALL our problems when it's finally released 5 years from now! /s



The truth is that BlockstreamKore are a fucking cancer that need to be removed with some kind of laxative.

If they aren't removed, then bye bye Bitcoin as the #1 Coin - Either Monero or Dash or Ethereum will take over the majority of marketshare.

Meanwhile the price keeps going up because people value bitcoin as a store of value outside of the system rather than a way to buy shit that can be bought with fiat anyway.

Sorry but the killer bitcoin app is digital gold. Bitcoin will never be optimal for payments until LN is operative.

Core wins and you keep crying with your BUchinacoin while thinking alts are taking over when it's just DASH pump by Roger Ver which will collapse as soon as money stops being pumped on it.

[Vaccinus]

Sorry to burst your bubble.  Im sure the bug will be fixed and BU back up and running.  It's not like Bitcoin never had a serious bug before. 

#keepinitreal

but it was when the value was really low man, now the value is very high having a bug like that could seriously compromise the integrity of the bitcoin market, the coders of BU didn't test ti right they are seeing now this bug because antpool joined their network

[Carlton Banks]

Sorry but the killer bitcoin app is digital gold. Bitcoin will never be optimal for payments until LN is operative.

I disagree with this a little.

Bitcoin (at today's exchange rate) works fine with the type of merchants who accept it anyway: online shops that mail the goods to you. For that, instant confirmations, or even confirmation in the next block just isn't needed, the goods will take a day or more to arrive anyway.

With LN, I think IRL bricks and mortar merchants are the most appropriate use case. It requires a fair amount of trust to actually route the payment through a merchant's own personal Lightning node to pay them, they could try and exploit that in a couple of ways (Lightning isn't perfect). With in-person merchants, they're incentivised to be co-opeative with their customers, one can get alot of information about whether the merchant will still be selling from the same spot the next day, or the next month. This would reduce the risks of using Lightning to virtually zero, IRL shops have a powerful incentive to behave themselves as a result. With online shops, you can't always be so confident that way.  And of course, instant transfers will be far preferable with IRL purchases, so it seems like a perfect fit.

[chopstick]

Meanwhile the price keeps going up because people value bitcoin as a store of value outside of the system rather than a way to buy shit that can be bought with fiat anyway.

Sorry but the killer bitcoin app is digital gold. Bitcoin will never be optimal for payments until LN is operative.

Core wins and you keep crying with your BUchinacoin while thinking alts are taking over when it's just DASH pump by Roger Ver which will collapse as soon as money stops being pumped on it.

What you people fail to understand, is that as Bitcoin loses its utility and number of use cases it will also inevitably lose value, making it a poor store of value.

"Blah blah blah Chinacoin blah blah blah Roger Ver,"  that part of your post is just stupid FUD as usual, which is all you have for logic. No brains.

We should have the ability to choose between on-chain and off-chain scaling ourselves, or at-least have both, not have the solution forced onto us by people who think they know better (hint: they don't)

[chopstick]

Sorry but the killer bitcoin app is digital gold. Bitcoin will never be optimal for payments until LN is operative.

Bitcoin (at today's exchange rate) works fine with the type of merchants who accept it anyway: online shops that mail the goods to you. For that, instant confirmations, or even confirmation in the next block just isn't needed, the goods will take a day or more to arrive anyway.

This is just ignorant. The high fees are causing havoc for both merchants and customers. Merchants don't want to send an order unless they know 100% that it is going to confirm. This is causing huge headaches for businesses that accept bitcoin.

[jonald_fyookball]

Sorry but the killer bitcoin app is digital gold. Bitcoin will never be optimal for payments until LN is operative.

Bitcoin (at today's exchange rate) works fine with the type of merchants who accept it anyway: online shops that mail the goods to you. For that, instant confirmations, or even confirmation in the next block just isn't needed, the goods will take a day or more to arrive anyway.

This is just ignorant. The high fees are causing havoc for both merchants and customers. Merchants don't want to send an order unless they know 100% that it is going to confirm. This is causing huge headaches for businesses that accept bitcoin.

Some people feel merchant adoption isn't even importance and that widespread use isn't important...they think Bitcoin can be used as a store of value regardless.  See my other thread about that. 

[Carlton Banks]

Well, I send merchants less than 100 satoshis per byte right now, and it confirms pretty quickly (<10 blocks most of the time)

Not sure why it could be such a big problem for anyone else, there's nothing special about the coins I'm sending.

[cellard]

Well, I send merchants less than 100 satoshis per byte right now, and it confirms pretty quickly (<10 blocks most of the time)

Not sure why it could be such a big problem for anyone else, there's nothing special about the coins I'm sending.

Bitcoin is as quick as ever for me with the recommended fee and even a bit lower.

In any case only nerds and geeks use BTC to pay for stuff, the rest is all for hedging against the collapsing fiat system and speculative purposes.

Mainstream usage is not viable without LN, think about the trillions of transactions we would need per day for a global mainstream economy, doesn't scale onchain.

In any case bitcoin as a store of value alone is highly underrated and worth more than gold, since it is a better gold already, and will only get better.

[Carlton Banks]

In any case only nerds and geeks use BTC to pay for stuff

How dare you! (guilty as charged )

[pereira4]

Sooner or later we will find a way to properly scale bitcoin for global mainstream success, as of right now it is a good censorship resistant tool to store and move value. Unfortunately, this does not come cheap, as opposed to centralized payment networks which the average joe uses.

As Andreas said, as long as we struggle to scale, we are making progress (as in an analogy to how the internet is always struggling to scale)

In other news, looks like Roger Ver already patched his botnet and nodes are at an all time high. Too bad the damage is done already and BU's credibility is shattered forever.

[Fizamcc]

Sooner or later we will find a way to properly scale bitcoin for global mainstream success, as of right now it is a good censorship resistant tool to store and move value. Unfortunately, this does not come cheap, as opposed to centralized payment networks which the average joe uses.

As Andreas said, as long as we struggle to scale, we are making progress (as in an analogy to how the internet is always struggling to scale)

In other news, looks like Roger Ver already patched his botnet and nodes are at an all time high. Too bad the damage is done already and BU's credibility is shattered forever.

What do you see scales for bitcoins in the future? I'm already tired of proving that bitcoin will not replace real money. For bitcoin, in my opinion, a different future is prepared.

[Paashaas]

What you people fail to understand, is that as Bitcoin loses its utility and number of use cases it will also inevitably lose value, making it a poor store of value.

"Blah blah blah Chinacoin blah blah blah Roger Ver,"  that part of your post is just stupid FUD as usual, which is all you have for logic. No brains.

We should have the ability to choose between on-chain and off-chain scaling ourselves, or at-least have both, not have the solution forced onto us by people who think they know better (hint: they don't)

What you fail to grasp is the fact in terms of nodes, wallets, businesses, exchanges etc aka the economic majority wants Segwit. Technical improvement, trust, security and innovation outweight more what UB can offer. 

Nobody cares how Blockstream gets his money, only BU people seems having a problem with it You need to make consessions, i did that and i belong to that 'economic majority' untill BU can impress me.

[chopstick]

What you people fail to understand, is that as Bitcoin loses its utility and number of use cases it will also inevitably lose value, making it a poor store of value.

"Blah blah blah Chinacoin blah blah blah Roger Ver,"  that part of your post is just stupid FUD as usual, which is all you have for logic. No brains.

We should have the ability to choose between on-chain and off-chain scaling ourselves, or at-least have both, not have the solution forced onto us by people who think they know better (hint: they don't)

What you fail to grasp is the fact in terms of nodes, wallets, businesses, exchanges etc aka the economic majority wants Segwit. Technical improvement, trust, security and innovation outweight more what UB can offer. 

Nobody cares how Blockstream gets his money, only BU people seems having a problem with it You need to make consessions, i did that and i belong to that 'economic majority' untill BU can impress me.

This supposed "economic majority" is just another Ridiculous term invented recently to help push through Kore's propaganda.

The reality is that people want a blocksize increase. Some people have swallowed Kore's propaganda and think a blocksize increase is "too dangerous,"

You can't quantify any support in real, actual, tangible numbers based in fact.

Which means your "economic majority" is just more hot air.

[squatz1]

We were getting a bit too close for comfort with me thinking a hard fork would actually happen and that I'd have to do something relating to my bitcoin, be it buy, sell, or pick a currency to stick with cause you don't know which one is going to end up winning out.

This is great news. I was getting a bit worried a hard fork would actually happen, but looks like Jihan's little nerd dream to be the emperor of bitcoin will not happen. Sorry, Core wins another day, and now $3000 are actually possible in 2017.

What do yall think the sub reddit for r/btc is looking like right about now? Anyone think they're in full damage control to attempt to show this is all bullshit and they'll "fix this" asap.

This is going to end BU forever, RIP that and it looks like Segwit will be able to pick up all the undecided and maybe even someone from Campaign BU.

[European Central Bank]

This supposed "economic majority" is just another Ridiculous term invented recently to help push through Kore's propaganda.

i would class the economic majority as people who don't want the bitcoin network to be thrown away by a reckless feud. i want something that scales of course, but i also want something that most of all works without any problems.

put everyone on here in a room today with two buttons, one says 'core', the other says 'unlimited' and tell them this vote will decide which chain becomes bitcoin. i don't think the unlimited button is gonna get alot of action.

[Carlton Banks]

i want something that scales of course

Abandon the big blocks rhetoric if you believe that.

The bigger blocks approach is no different in scale irrespective of how big the size is, the rate of transactions increases 1:1 with the increase in blocksize. Not scaling is not scaling.

[-ck]

Some of the nodes have come back online, presumably patched, but it's still under 400 on coin dance. I wonder how much time is needed to know how many have patched their clients and restarted them or have abandoned BU after this. It will probably be many days before we know since not all nodes will be attended to or monitored daily.

Looks like the number of nodes is back to the baseline of ~800. Both the second showstopper bug that was exploited and their embarrassingly bad attempt to cover it up by alleging core nodes were affected, and trying to fake the number of core nodes in existence look like less than exist have not perturbed them.
https://www.reddit.com/r/Bitcoin/comments/5zhmwn/andrew_stones_bu_dev_fake_screenshot_is_a_poor/
The fact that the number of BU nodes is unchanged in light of the above speaks volumes for the type of people running them...

[Quickseller]

Well, I send merchants less than 100 satoshis per byte right now, and it confirms pretty quickly (<10 blocks most of the time)

Not sure why it could be such a big problem for anyone else, there's nothing special about the coins I'm sending.

10 blocks is an hour and a half on average, and 10 blocks is probably closer to the lower bound of what you will need to wait for a confirmation at this fee rate currently.

The problem with waiting 10 blocks, or longer is that there is the risk that you will be able to double spend the transaction when (not if) the mempool gets too large very quickly, and your original transaction drops from the mempool.

[jonald_fyookball]

The fact that the number of BU nodes is unchanged in light of the above speaks volumes for the type of people running them...

I assume you mean that they were able to quickly identify an outtage, apply the correct fix, and bring the node back online swiftly was good?