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Author Topic: Been away some 10 days, what's up w/ price and SW vs. BU?  (Read 526 times)
OROBTC
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May 09, 2017, 04:42:17 AM
 #1

...

We have been in the process of moving (sold our condo) and traveling.  Yet I see that things seem to be moving fast in Bitcoinistan.

So:

--  Are there any good explanations for the majestic price rise to +/- $1690?

--  Any news on the Bitcoin SW v. BU Civil War?

It seems counter-intuitive to me that the price rise is so strong when there is that unresolved and thorny SegWit v. BU issue out there.
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May 09, 2017, 05:30:38 AM
 #2

- the same as always, price is rising for the same reasons. nothing about bitcoin has changed that you need a different explanation Tongue
- nothing has changed about this either. the two camps are still fighting each other and someone(s) is still spamming the mempool
- no it is not counter-intuitive. as i said nothing about bitcoin has changed, it is still the decentralized, secure, scarce, p2p digital cash.

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May 09, 2017, 05:34:01 AM
 #3

it's ascertained that the value don't care about internal dispute, otherwise we would be stuck at $1000, in fact average joe don't even understand what's going on with BU or segwit

i bet they don't even know what these those things is, value is increase because simply more investors are "playing" with bitcoin, japan is the first one...
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May 09, 2017, 05:56:36 AM
 #4

it's ascertained that the value don't care about internal dispute, otherwise we would be stuck at $1000, in fact average joe don't even understand what's going on with BU or segwit

i bet they don't even know what these those things is, value is increase because simply more investors are "playing" with bitcoin, japan is the first one...

I am one of the "average joes" and i don`t understand segwit and BU.
Anyway, last year i predicted that Japan will be the "next" China for bitcoin and i was right.
Waiting for 2000 USD at the end of the month.



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May 09, 2017, 06:15:48 AM
 #5

You did not miss much, the SegWit vs BU thing is still going strong and LiteCoin started using SegWit and that is reflected in their rise in price. Everyone are happy about the Japanese government embracing Bitcoin and you can now see how a small gesture like this are influencing the price. < Big merchants in Japan started to accept Bitcoin as a payment option >

We have seen record high prices these last couple of days in Bitcoin and some other Alt coins. ^smile^

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May 09, 2017, 06:28:59 AM
 #6

The price is still kind of illogical but there are some positive points.

-Bitfinex agreed to an external balance sheet audit and the price premium is under control
-The ETF is under review
-Litecoin is implementing SegWit

If you consider Google search trends and stuff like that, you'll realise that Bitcoin's hype hasn't increased as much as the price has.  The chances are that it's a moderate amount of institutional investors getting involved rather than a grassroots movement of individuals.  Coindesk called it the "second wave of Bitcoin price growth".

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May 09, 2017, 06:37:24 AM
 #7

It's pretty much the same to me.
Was not paying attention the last week, and today i look up coinmarketcap.com.... and bitcoin is above 1700$. And increasing. And all major alts decreasing.
It really seems like something draws the money away from the altcoins and back into bitcoin.
But since nobody has an immediate explanation for this, I suppose nothing dramatic has happened the past weeek in crypto world. Just business as usual.

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May 09, 2017, 06:47:51 AM
 #8

There seems to be an influx of new money into the cryptomarkets. Most coins are up in price. Bitcoin market cap dominance has declined.
There still seems to be pump and dump flows into and out of BTC, but in general everything has been going up and altcoins have benefited most (hence the decline in bitcoin market cap despite the price rise).

Miner voting signalling is pretty much the same with only daily variances, not much longterm change or significant changes in pool support.

Don't know if the DCG scaling meeting will occur this month as mooted:

http://www.coindesk.com/major-bitcoin-scaling-meeting-take-place-may/

Otherwise known as the meeting of the board of central governors as dinofelis would put it.

Scaling and transaction rate: https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
Do not allow demand to exceed capacity. Do not allow mempools to forget transactions. Relay all transactions. Eventually confirm all transactions.
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May 09, 2017, 09:05:06 AM
 #9

Don't know if the DCG scaling meeting will occur this month as mooted:

http://www.coindesk.com/major-bitcoin-scaling-meeting-take-place-may/

Otherwise known as the meeting of the board of central governors as dinofelis would put it.

barry silbert of DCG is "coindesk"

yep, if coindesk is saying "join us at consensus in 12 days.." then DCG are there and are organising it

..

im also laughing that adamback of blockstream is pointing fingers at pools yet again.
but
1. adams own employees removed the fee structures that would have allowed fee's to be lower
2. adams own employees went soft and gave pools the only vote/veto power.

..

lastly
blockstream have created a secondary company "chaincode labs" and started moving employee's across to 'pretend' that blockstream is not centralised and that core are not dominant by blockstream by bait and switching employee's under different shell companies. while also hiring new people to be the pawns/puppets of public debate (s.mow the pawn/face/puppet for UASF) to take the debate away from the puppet master(gmax) so that only the temporary puppets get the fingers pointed at


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