Taproot will follow segwit pump

[Wind_FURY]

You can't really compare taproot with segwit fork so I don't expect this would be the reason for any major price change,

In 2017 was also US election, this year US election proved to me how it affected bitcoin price in uptrend direction. Also there are other factors that resulted to bitcoin price uptrend in 2017. I too do not think segwit activation really have effect on the price (I am only guessing this), I haven't known much about bitcoin at the time (2017) and I am lazy to relate segwit activation to price of bitcoin few days before and after the the activation.

I believe it did have an effect on the price. Because before Segwit was a long debate called the scaling debate which had the community divided, and anti-Bitcoiners were attacking Bitcoin. The direction of Bitcoin might have been a little questionable. Segwit’s activation through a UASF closed all questions.

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I believe it did have an effect on the price. Because before Segwit was a long debate called the scaling debate which had the community divided, and anti-Bitcoiners were attacking Bitcoin. The direction of Bitcoin might have been a little questionable. Segwit’s activation through a UASF closed all questions.

But, I am not seeing any big debate is going on right now in bitcoin communities hence what kind of effect we could expect along with this taproot upgrade? I read few such upgrade on some altcoins and they experienced pumps and dumps as well (when we are having multiple upgrade scheduled then people I may start ignoring).

I agree bitcoin ecosystem is not having any frequent major upgrades. So we may expect some strong bull run which will be triggered by this taproot upgrade.

[Wind_FURY]

I believe it did have an effect on the price. Because before Segwit was a long debate called the scaling debate which had the community divided, and anti-Bitcoiners were attacking Bitcoin. The direction of Bitcoin might have been a little questionable. Segwit’s activation through a UASF closed all questions.

But, I am not seeing any big debate is going on right now in bitcoin communities hence what kind of effect we could expect along with this taproot upgrade? I read few such upgrade on some altcoins and they experienced pumps and dumps as well (when we are having multiple upgrade scheduled then people I may start ignoring).

Before you post, read through the topic and get the context. I said Taproot upgrade MIGHT be priced in because compared to the Segwit upgrade, Taproot doesn’t have much attention from the community like Segwit had.

Then someone posted that Segwit did not have much effect on the price, which I simply disagreed.

I agree bitcoin ecosystem is not having any frequent major upgrades. So we may expect some strong bull run which will be triggered by this taproot upgrade.

Or it might already be priced in. But I will be wrong, and my plebness will show again. Hahaha.

[pooya87]

Then someone posted that Segwit did not have much effect on the price, which I simply disagreed.
Or it might already be priced in. But I will be wrong, and my plebness will show again. Hahaha.

What I think is that despite popular belief SegWit didn't cause a "pump" because lack of SegWit (before its activation) was preventing the money from coming in so when it got activated and the drama ended, all those moneys waiting to jump in, jumped in and price went up to what it should have reached if there were no drama.
In other words removal of drama let the rise that were supposed to happen months before, finally happen.

With that logic, Taproot shouldn't cause any significant rise itself because there is no drama. But at the same time we have had another kind of "drama" which was the unreasonable drop which lasted a couple of months which kept the price below $60k. This undervalued state with all the FUD campaigns have created a nice build up and the panic buyers are waiting to jump in causing a big rise sooner or later.

[Wind_FURY]

Then someone posted that Segwit did not have much effect on the price, which I simply disagreed.
Or it might already be priced in. But I will be wrong, and my plebness will show again. Hahaha.

What I think is that despite popular belief SegWit didn't cause a "pump" because lack of SegWit (before its activation) was preventing the money from coming in so when it got activated and the drama ended, all those moneys waiting to jump in, jumped in and price went up to what it should have reached if there were no drama.
In other words removal of drama let the rise that were supposed to happen months before, finally happen.

With that logic, Taproot shouldn't cause any significant rise itself because there is no drama. But at the same time we have had another kind of "drama" which was the unreasonable drop which lasted a couple of months which kept the price below $60k. This undervalued state with all the FUD campaigns have created a nice build up and the panic buyers are waiting to jump in causing a big rise sooner or later.

I have the same theory. The scaling debate brought instability, then which Segwit activation stabilized and ended the debate. It also brought divisiveness, which Segwit couldn’t fix, BUT I’m confident none of the big blockers that matter SODLed. Roger Ver still HODLs Bitcoin. It would be stupid of him, or anyone, to sell Bitcoin for Bcash.

[leea-1334]

I have the same theory. The scaling debate brought instability, then which Segwit activation stabilized and ended the debate. It also brought divisiveness, which Segwit couldn’t fix, BUT I’m confident none of the big blockers that matter SODLed. Roger Ver still HODLs Bitcoin. It would be stupid of him, or anyone, to sell Bitcoin for Bcash.

I was very new when all of that happened. All I knew was that the miners who wanted bigger blocks went their way but eventually they also saw how bad the other camp was and everyone then decided to go Segwit. No more debate other than stubborn things about price and speed but I remember,,, this was proof of how Bitcoin becomes stronger after overcoming a difficulty.

Taproot is nowhere near to causing the same conflict so I do not see it as a big difficulty.

[Wind_FURY]

I have the same theory. The scaling debate brought instability, then which Segwit activation stabilized and ended the debate. It also brought divisiveness, which Segwit couldn’t fix, BUT I’m confident none of the big blockers that matter SODLed. Roger Ver still HODLs Bitcoin. It would be stupid of him, or anyone, to sell Bitcoin for Bcash.

I was very new when all of that happened. All I knew was that the miners who wanted bigger blocks went their way but eventually they also saw how bad the other camp was and everyone then decided to go Segwit. No more debate other than stubborn things about price and speed but I remember,,, this was proof of how Bitcoin becomes stronger after overcoming a difficulty.

Taproot is nowhere near to causing the same conflict so I do not see it as a big difficulty.

During the scaling debate, months before the UASF cleared the path to a true understanding of Bitcoin, community, and consensus, as a newbie, what was your viewpoint on “big blocks or small blocks”? I was also a newbie with a different perspective.

[leea-1334]

During the scaling debate, months before the UASF cleared the path to a true understanding of Bitcoin, community, and consensus, as a newbie, what was your viewpoint on “big blocks or small blocks”? I was also a newbie with a different perspective.

Personally? I felt very hurt by the fees because I was using a site that adjusted fees and it made me pay a lot of money. But guess what? I found out how to use Electrum to set my own fees. I saw that actually even with 100 satoshi per byte fees I actually paid very little.

If it was all equal and about fees only I would choose the cheaper one but even as a newbie it was easy to see the people who opted for the split were commercial, thinking about money, were not as good about developing concerns as Bitcoin, and I was not convinced about block security (as in, 51% attack) as so many altcoins show they are vulnerable. Imagine, since the time I was new, LTC, ETH and others always have network down times, and reorganization and confusion. Never with Bitcoin except because of the BCH fork,,, to my newbie understanding.

So anyway, long story short I was not a small blocker but a regular blocker;)

Like if you have a computer, and you always have option of buying more HDD or just keeping your disk cleaner and more efficient.

[Charles-Tim]

Personally? I felt very hurt by the fees because I was using a site that adjusted fees and it made me pay a lot of money. But guess what? I found out how to use Electrum to set my own fees. I saw that actually even with 100 satoshi per byte fees I actually paid very little.

100 sat/byte, that is still too high except when the mempool is congested, it can even go higher. I will use vbyte because weight are used for transactions except when using legacy addresses to make transaction. Nested segwit, native segwit and the upcoming taproot are using weight for transactions. Right now, the mempool is not that congested, even 11 sat/vbyte will get your transaction confirmed early. This has been how bitcoin transactions has been but it depends on how congested mempool is. You can first use mempool observers to check the vbyte to get transaction confirmed early.

https://jochen-hoenicke.de/queue/#BTC,2h,weight
https://mempool.space/

[leea-1334]

During the scaling debate, months before the UASF cleared the path to a true understanding of Bitcoin, community, and consensus, as a newbie, what was your viewpoint on “big blocks or small blocks”? I was also a newbie with a different perspective.

100 sat/byte, that is still too high except when the mempool is congested, it can even go higher. I will use vbyte because weight are used for transactions except when using legacy addresses to make transaction. Nested segwit, native segwit and the upcoming taproot are using weight for transactions. Right now, the mempool is not that congested, even 11 sat/vbyte will get your transaction confirmed early. This has been how bitcoin transactions has been but it depends on how congested mempool is. You can first use mempool observers to check the vbyte to get transaction confirmed early.

https://jochen-hoenicke.de/queue/#BTC,2h,weight
https://mempool.space/

You quoted someone else's comment but I understood you responded to me.

I know how to use the calculations, to look at mempool and all that. But if you read my comment, it was talking about the big block small block argument period before the whole Bitcoin forks episode. So we did not even have at the time vbyte numbers to my knowledge. If you needed a transaction urgently, 100 satoshi even sometimes was not enough and I was talking about it being cheap at the time because of BTC price.

[davis196]

The "Segwit pump" wasn't caused by Segwit only.There were other factors pumping the Bitcoin price back then.
90% of the Bitcoiners don't care about Segwit or Taproot.They only care about the Bitcoin price.
Maybe there will be some short term hype arround Taproot,which might cause the BTC price to go up,but I think that the hype will be temporary and it won't lead to a significant and stable price increase.
The scaling debate was just an excuse for Roger Ver and other pseudo-Bitcoiners to push their forked pseudo Bitcoin garbage,like BCH,BSV,etc.I don't even remember the names of those forked "Bitcoins".