Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 15890.

rolling

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Quote from: gentlemand on November 12, 2017, 12:28:01 PM

Quote from: rolling on November 12, 2017, 12:24:38 PM

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

If you don't think 70% of the hashpower moving from bitcoin to an altcoin is a problem, I don't know what else to say.

gentlemand

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Welt Am Draht

Quote from: rolling on November 12, 2017, 12:24:38 PM

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

The only reason Slush is growing is because all the other miners have abandoned BTC for now.

Miners aren't loyal to anyone or anything. They want them bills paid and some profit. That's it. If that dimness kills BTC they'll probably grunt and find something else to mine, even if there's nothing left.

rolling

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Quote from: gentlemand on November 12, 2017, 12:17:34 PM

Quote from: rolling on November 12, 2017, 12:15:18 PM

Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.

The pools will have programs that automatically switch to the most profit on a near instant basis. And you can bet the pools Bitmain controls offers the best iterations.

I don't mine anymore but there is no way I would point my miners at a pool that switched to Bitch. If anyone is still using any of the Chinese mining pools, this should be a wake up call. I think a lot of people have already realized this which is why Slush pool has been growing.

suzanne5223

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Want top-notch marketing for your project, Hire me

Quote from: har23 on November 12, 2017, 11:59:04 AM

5500 is the next resistance, maybe 5000$.. so insane...

You don't need to worry yourself mate because bitcoin will always find it way back to the ATH. Do you remember the dumps that happen last year June? If I could remember correctly and how bitcoin pump after the dumps I think we're currently experience the same thing right now. However, bitcoin will pump when it business working days.

jojo69

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diamond-handed zealot

when is that rumored new Japanese mining hardware supposed to come out?

barota

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Quote from: Torque on November 12, 2017, 12:03:31 PM

Quote from: barota on November 12, 2017, 12:01:14 PM

Any other news about dumping these huge amounts of roger ver ?!
25000 btc of roger ver + other rich addresses+ dump traders + Huh

?+

? --------- crash of bitcoin

We could only hope! People are literally begging Ver et. al. to dump all their BTC. Please universe, please make this happen. Let them be gone forever! And we will buy up all the cheap bitcoin, yay.

yes . i agree with you mate ; we want trade bitcoin in reasonable prices

for me over 3000 usd per btc ; it's expensive

rjclarke2000

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This is not a nice place to be now. Bcash is toxic and has caused major problems.

This thread has become divided and I for one am not enjoying coming here anymore.

I hope you bcash twats are happy. I'm off.

gentlemand

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Welt Am Draht

Quote from: rolling on November 12, 2017, 12:13:19 PM

No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%.

They very clearly are.

And there's so much volume they could dump everything with barely a blip.

There's a very interesting interview with some Chinese miners on the World Crypto Network. Dunno if this is the right one - https://www.youtube.com/watch?v=fyZ-HlWFk78

The gist was that most Chinese miners don't know or care what they're mining. They don't understand anything. All they want is CNY.

If Mr. Wu can offer them more of that however briefly then they're going to take it. He doesn't have to own the hashing, just the opportunity to lure miners.

Quote from: rolling on November 12, 2017, 12:15:18 PM

Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.

The pools will have programs that automatically switch to the most profit on a near instant basis. And you can bet the pools Bitmain controls offers the best iterations.

rolling

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Quote from: Hyperjacked on November 12, 2017, 12:10:38 PM

Quote from: rolling on November 12, 2017, 12:03:46 PM

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

This was a well orchestrated plan by a few and the majority will follow IMHO

It's only the beginning...

Disclaimer:I'm only right 67% of the time Grin

Even if the majority did follow, there would be a lag of a few days at least. The swap of mining BTC to Bitch was almost instant.

itod

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Honey badger just does not care

Quote from: Gab0 on November 12, 2017, 12:09:32 PM

Quote from: itod on November 12, 2017, 11:54:21 AM

Quote from: Gab0 on November 12, 2017, 11:20:41 AM

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

Those Bitcoin Unlimited guys measured the mempool performance and found out it was not the protocol issue, it is protocol implementation issue. Currently transactions commit to the mempool in the single thread exclusively, so it doesn't matter if you have 4 core, 8 core or 32 core processor once the mempool gets saturated it falls apart completely, not being able to process new transactions. They found about this empirically, through watching measurement charts. There is a video from Stanford conference held a week ago where they explained the details, link to Youtube is posted in this thread few pages ago. They wrote a multi-threaded implementation and then (surprise, surprise) made some additional "improvements" on the process, so even if their code will be opensourced it can not be patched directly to Bitcoin Core codebase, developers will have to do some of they own work on it. I'm surprised no one cached this long time ago.

Thank you very much. I appreciate your response. I will look for the video that you mention.
But I still dont understand, this could help with high rates and makes spam attacks less effective?

Mempool implementation is just one botleneck, you can not put more transactions then the block limit implies. At least multithreaded implementation will remove the cases where mempool falling apart and not filling the space it could fill is no longer the case.

rolling

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Quote from: itod on November 12, 2017, 12:08:10 PM

Quote from: rolling on November 12, 2017, 12:03:46 PM

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

Why would do you assume they will not voluntarily mine BCH? They see this as an opportunity to get much more money for electricity spent. It will be over in a few hours anyway:

Code:

Coin Date (UTC 24h) Remaining Change
BCH Nov 12th, 21:09 3 hours, 2 minutes (131 blk) +400.00%

No way miners are that stupid. Unless they can sell their Bitch within the next 12 hours, it will be nearly worthless again. I think the larger problem here is that the Bitmain mining cartel has revealed their hand on how much hash rate they actually control. The community used to get upset when a pool neared 50% of the hash rate. Now we see that someone actually controls nearly 70%.

Hyperjacked

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It's all mathematics...!

Quote from: rolling on November 12, 2017, 12:03:46 PM

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

This was a well orchestrated plan by a few and the majority will follow IMHO

It's only the beginning...

Disclaimer:I'm only right 67% of the time Grin

Gab0

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Quote from: itod on November 12, 2017, 11:54:21 AM

Quote from: Gab0 on November 12, 2017, 11:20:41 AM

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

Those Bitcoin Unlimited guys measured the mempool performance and found out it was not the protocol issue, it is protocol implementation issue. Currently transactions commit to the mempool in the single thread exclusively, so it doesn't matter if you have 4 core, 8 core or 32 core processor once the mempool gets saturated it falls apart completely, not being able to process new transactions. They found about this empirically, through watching measurement charts. There is a video from Stanford conference held a week ago where they explained the details, link to Youtube is posted in this thread few pages ago. They wrote a multi-threaded implementation and then (surprise, surprise) made some additional "improvements" on the process, so even if their code will be opensourced it can not be patched directly to Bitcoin Core codebase, developers will have to do some of they own work on it. I'm surprised no one cached this long time ago.

Thank you very much. I appreciate your response. I will look for the video that you mention.
But I still dont understand, this could help with high rates and makes spam attacks less effective?

Edit: Do you mean this presentation?
https://youtu.be/QkYXPJMqBNk?t=2059

itod

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Honey badger just does not care

Quote from: rolling on November 12, 2017, 12:03:46 PM

How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

Why would do you assume they will not voluntarily mine BCH? They see this as an opportunity to get much more money for electricity spent. It will be over in a few hours anyway:

Code:

Coin Date (UTC 24h) Remaining Change
BCH Nov 12th, 21:09 3 hours, 2 minutes (131 blk) +400.00%

rolling

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How is 70% of the mining power directed at Bitch Coin? Did Bitmain hijack every Antminer on the planet? No miner in their right mind would voluntarily mine that crap. How did they get that much of the hash rate?

Torque

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Quote from: barota on November 12, 2017, 12:01:14 PM

Any other news about dumping these huge amounts of roger ver ?!
25000 btc of roger ver + other rich addresses+ dump traders + Huh

?+

? --------- crash of bitcoin

We could only hope! People are literally begging Ver et. al. to dump all their BTC. Please universe, please make this happen. Let them be gone forever! And we will buy up all the cheap bitcoin, yay.

barota

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Quote from: monsanto on November 12, 2017, 10:54:04 AM

Hmm.. might want to set some low buy orders just in case Shocked

https://blockchain.info/address/14KsG6hxkM3cGGC4DvyEdf8uytoE7x9WRQ

I'm going to go out on a limb and say we'll see the largest sell wall in bitcoin history today.

I'm trying to remember some of the past giant sell walls in BTC history. One that stands out in my memory is the one at 300 when the guy cashed out.. I think it was around 30k BTC IIRC. Of course, that could be dwarfed today in terms of USD value. And I have a feeling it will be soon. Although this time there's a good chance it's only flashed. Be safe out there folks Wink

Any other news about dumping these huge amounts of roger ver ?!
25000 btc of roger ver + other rich addresses+ dump traders + Huh

?+

? --------- crash of bitcoin

har23

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5500 is the next resistance, maybe 5000$.. so insane...

True Myth

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Quote from: Torque on November 12, 2017, 11:40:36 AM

Quote from: Last of the V8s on November 12, 2017, 11:34:22 AM

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE

That entire pdf is the biggest load of crap I've ever seen. It sounds like it was written by a 3rd grader. And there's a lot of "We the Management will manage things better for you" garbage rhetoric. So centralized management will decide what's best for the lowly masses. Got it.

We encourage change and will never tell you what you can not do... (seconds later) here is a list of things that you can not do...

The suggestion of making holders of Bcash tons of money is litered throughout the statement. (they must be pretty confident)

The statement also drives the point home on how professional they are/will be however, this is one of the most unprofesional things I've read in a long time with words like "shitsling" and "donkey balls"...

In summary, I've decided to sell all of my BTC and buy Bcash to have fun and make money... pretty simple decision... *sarcasm*

har23

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many sell wall of 1000 BTC in bitfinex at different price.. This is sad.. really sad.

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