The Tide Is Turning - page 2. | Bitcointalksearch.org

afbitcoins

legendary

Activity: 2101

Merit: 1061

Quote from: dragonseer on November 26, 2015, 07:24:30 AM

Quote from: afbitcoins on November 26, 2015, 07:07:29 AM

Has XT not gone away yet?

So what happens if XT diverges from bitcoin, do you have the same number of bitcoins on two different blockchains suddenly. Sorry for noobish question but I don't really understaned the repercussions.

Most agree that it's not wanted or needed.. Similarly though, people didn't want to launch an invasion of Iraq either and that happened regardless.

Technically, I believe that if 70% of nodes are running XT, then the network has forked. So even if you don't update your client, the new network is in effect. This new network maintains a blacklist (connections are blocked if they come from a TOR network, however, this blacklist can be updated so your coins will be not be able to be transacted out of your wallet if the maintainers put you on their naughty list) and that is why it is such a horrible thing to do to Bitcoin, which is non-discriminatory in nature.

Thanks for the reply I agree XT doesn't appeal to me either. I didn't know that about blacklisting TOR connections though.

But I'm still unclear about what happens to the bitcoins in your wallet in practical laymans terms. Say they get more than 70% of network and fork to XT. What does that actually mean? Does that mean you have to download an XT wallet to be able to use your bitcoins ? What happens to the ones on the old core wallet ?

Patatas

legendary

Activity: 1750

Merit: 1115

Providing AI/ChatGpt Services - PM!

Quote from: dloghwak on November 26, 2015, 08:58:51 AM

Quote from: manis on November 26, 2015, 08:48:01 AM

Quote from: unent on November 26, 2015, 06:19:16 AM

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

Then any merchants holding bitcoins after Black Friday would get singed. Not good for the bitcoin community, is it?

Most merchants don't hold the coins, only a minority does and they probably know the risk.

The merchants have signed fiat deals with the bitcoin accepting exchanges .There are exchanges which no matter what the market price they still buy them.Merchants are keen on only selling their products ,they will make their money either way maybe after 10 more days when the prices become stable again but their major concern is to sell their goods.

dloghwak

sr. member

Activity: 290

Merit: 250

Quote from: manis on November 26, 2015, 08:48:01 AM

Quote from: unent on November 26, 2015, 06:19:16 AM

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

Then any merchants holding bitcoins after Black Friday would get singed. Not good for the bitcoin community, is it?

Most merchants don't hold the coins, only a minority does and they probably know the risk.

manis

sr. member

Activity: 303

Merit: 250

Quote from: unent on November 26, 2015, 06:19:16 AM

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

Then any merchants holding bitcoins after Black Friday would get singed. Not good for the bitcoin community, is it?

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: darkangel11 on November 26, 2015, 08:25:25 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

There has to be a pump first so there can be a crash. This thing today, a $30 raise, is nothing. It may look good on 15m charts but there's still no real peak to fall down from.

I wouldn't call a $30 price increase in less than a day nothing. The price is up 10% in a day, that's great! Bitfinex even reached $369.90 today. I think it's now time for some traders to secure profits before we can advance further. Let's see if this attempt can make it to $400 in the comming days.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

There has to be a pump first so there can be a crash. This thing today, a $30 raise, is nothing. It may look good on 15m charts but there's still no real peak to fall down from.

dragonseer

hero member

Activity: 611

Merit: 500

Anglo Saxon Crypto Enthusiast

Quote from: afbitcoins on November 26, 2015, 07:07:29 AM

Has XT not gone away yet?

So what happens if XT diverges from bitcoin, do you have the same number of bitcoins on two different blockchains suddenly. Sorry for noobish question but I don't really understaned the repercussions.

Most agree that it's not wanted or needed.. Similarly though, people didn't want to launch an invasion of Iraq either and that happened regardless.

Technically, I believe that if 70% of nodes are running XT, then the network has forked. So even if you don't update your client, the new network is in effect. This new network maintains a blacklist (connections are blocked if they come from a TOR network, however, this blacklist can be updated so your coins will be not be able to be transacted out of your wallet if the maintainers put you on their naughty list) and that is why it is such a horrible thing to do to Bitcoin, which is non-discriminatory in nature.

unent

sr. member

Activity: 326

Merit: 250

Quote from: mixan on November 26, 2015, 07:02:20 AM

Quote from: azguard on November 26, 2015, 04:58:07 AM

yes tide is rising again not much but hope will die last
pass over 340 expect to see it over 350 by end of day

It already has and it is not the end of day for another 12 hours Roll Eyes

Set that reach to $400 now.

There is talk in other threads that the next target is 285, and probably 400 after that. During the pump to 500 it went up 100 dollars in about 8 hours, so it's possible for the price to sail through target after target in less than half a day. Reaching 400 before the end of today seems possible.

Patatas

legendary

Activity: 1750

Merit: 1115

Providing AI/ChatGpt Services - PM!

Looks like we're hitting that rocket-high Black Friday rate soon!

afbitcoins

legendary

Activity: 2101

Merit: 1061

Has XT not gone away yet?

So what happens if XT diverges from bitcoin, do you have the same number of bitcoins on two different blockchains suddenly. Sorry for noobish question but I don't really understaned the repercussions.

mixan

legendary

Activity: 966

Merit: 1000

TRUMP IS DOING THE BEST! MAKE AMERICA GREAT AGAIN!

Quote from: azguard on November 26, 2015, 04:58:07 AM

yes tide is rising again not much but hope will die last
pass over 340 expect to see it over 350 by end of day

It already has and it is not the end of day for another 12 hours Roll Eyes

Set that reach to $400 now.

dragonseer

hero member

Activity: 611

Merit: 500

Anglo Saxon Crypto Enthusiast

The Tide is Turning you say..

Here is Gavin Andresen to the rescue, ready to pimp Bitcoin XT for another round with it's upgrade path and blacklists. The Coinbase CEO and Roger Ver will surely be behind it as well.

And Gold is going down! That's the thing that China and other BRICS countries have been buying.. While the US has largely depleted it's reserves on the sly.

No way Chinese mining farms will get behind Bitcoin XT, and neither should the community. Anyway, it will be easy to trade for the next while, now you know the price will be driven by how close the XT fork is to being implemented.

And if you want to feel like a superhero as you're 'sticking it to the bankers', just get a chip implanted for NFC payments!!

tiggytomb

legendary

Activity: 1848

Merit: 1000

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

Yeah, this is what will probably happen, what goes up must come down and tomorrow is the day that will do something to the price anyway however short term it is.

EternalWingsofGod

hero member

Activity: 700

Merit: 500

Quote from: unent on November 26, 2015, 06:19:16 AM

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

What can I say people are lazy when it comes towards these type of things, I'm sure that there are a lot of individuals who are getting coins at the last minute just in case they want to get some goods, afterwards what people and merchants decide to do with their coins will depend.
Although since part of that volume is Chinese and it's not singles day maybe the Chinese are interested in some online Bitcoin deals ha-ha
Or MMM ponzi it continues lol.

unent

sr. member

Activity: 326

Merit: 250

Quote from: 1Referee on November 26, 2015, 06:24:25 AM

Quote from: unent on November 26, 2015, 06:19:16 AM

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

It's a more than welcome increase. I as trader would like to see these kind of unexpected increases more often

When people expect a lot from Bitcoin, nothing is happening. When people aren't expecting anything, then the price is showing action. Let's not expect anything from the price, ok?

OK

I keep searching the news for another reason for the pump besides Black Friday but I can't find anything. Nobody really gave a convincing reason for the pump to 500, it just seemed to happen without any reason. I'm giving up expecting news to pump the price, it's like the news doesn't affect it.

1Referee

legendary

Activity: 2170

Merit: 1427

Quote from: unent on November 26, 2015, 06:19:16 AM

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

It's a more than welcome increase. I as trader would like to see these kind of unexpected increases more often

When people expect a lot from Bitcoin, nothing is happening. When people aren't expecting anything, then the price is showing action. Let's not expect anything from the price, ok?

unent

sr. member

Activity: 326

Merit: 250

Quote from: EternalWingsofGod on November 26, 2015, 06:02:41 AM

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

That's what happened during Black Friday week last year. There was a modest pump beforehand, and a dump afterwards. I had given up on a pump after watching the price decline until yesterday, and this pump caught me by surprise. Over £30 up in 24 hours is an extremely fast pump.

Pollak

full member

Activity: 182

Merit: 100

Pollak

Glad to see this happening.

We might hit $400 before black friday after all.

We'll just have to wait and see, really excited to wake up to this.

EternalWingsofGod

hero member

Activity: 700

Merit: 500

Quote from: Furio on November 26, 2015, 05:04:57 AM

It´s very strange, normally you would anticipate a price dropp just before black friday, I think a crash is still coming around christmas, or mostly the week before

No it would be the opposite in my opinion a Price rally as people stock up on Bitcoins before black friday, a price drop after the merchants convert the Bitcoins back after black friday sort of a double dip effect.

NorrisK

legendary

Activity: 1946

Merit: 1007

Quote from: azguard on November 26, 2015, 04:58:07 AM

yes tide is rising again not much but hope will die last
pass over 340 expect to see it over 350 by end of day

Not much? It is up almost 10% in a day. That is a huge rise by all standards..

This pace we might see 400 on black Friday, makes your purchases really cheap if you got bitcoins before yesterday.

Topic: The Tide Is Turning - page 2. (Read 2926 times)