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Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 16827. (Read 26711434 times)

legendary
Activity: 2842
Merit: 1511
This is so confusing, users on Yobit exchange are already selling BCC and it is tanking as expected. If the fork has not happened yet, where on earth are they getting the BCC from? Can some please explain? Thanks!

Yobit pulls coins out of their ass, no joke.
legendary
Activity: 1806
Merit: 1828
This is so confusing, users on Yobit exchange are already selling BCC and it is tanking as expected. If the fork has not happened yet, where on earth are they getting the BCC from? Can some please explain? Thanks!

They are virtual IOU tokens. Also, Yobit is not allowing BTC withdrawals or deposits. So you cannot claim anymore BCC going that route. You cannot withdraw BCC either, yet.
legendary
Activity: 1022
Merit: 1005
This is so confusing, users on Yobit exchange are already selling BCC and it is tanking as expected. If the fork has not happened yet, where on earth are they getting the BCC from? Can some please explain? Thanks!
legendary
Activity: 2856
Merit: 1520
Bitcoin Legal Tender Countries: 2 of 206
Hmm, but what about BIP148? I thought that was at midnight.
It just recently activated, less than an hour ago if I am correct. Price is beginning to go downwards slightly now, it will probably accelerate once we hit 12:20PM UTC tomorrow. Will be interesting to see what the price will be once the fork happens- I expect BTC at ~2400-2500 or less.

at the moment the active UASF nodes are accepting all blocks because 100% of the blocks signal BIP141 (bit1).

here ist the countdown to the split later today:

https://coin.dance/
legendary
Activity: 1624
Merit: 1130
Bitcoin FTW!
Hmm, but what about BIP148? I thought that was at midnight.
It just recently activated, less than an hour ago if I am correct. Price is beginning to go downwards slightly now, it will probably accelerate once we hit 12:20PM UTC tomorrow. Will be interesting to see what the price will be once the fork happens- I expect BTC at ~2400-2500 or less.
legendary
Activity: 1260
Merit: 1000
Even if you were ultra evil and wanted bcc to usurp btc you still wouldn't trade your bitcoin for bcc.

Lol?  While it would be inconvenient for a few people, I fail to see how such an action would be "evil".  If anything, trying to force the entire planet onto a single blockchain with extremely limited scaling would be the evil choice since it's inherently PRO-USURY.  I'm not a religious person, but what's the only time in the bible Jesus got violent with people?  Flipping over the tables and kicking out the usury Yids from the temple.

If you weren't a lying scammer solely trying to pump your own investment, you would logically pick the "non-evil" solution to be everyone dumping the fuck out of any currency with limited scaling and built in rent seeking, usurious middlemen (meaning all cryptocurrency), and purchasing gold or silver instead.

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
Great American Total Solar Eclipse time 21 Aug 2017 at 15:46 UTC

Estimated SegWit Activation time 21 Aug 2017 10:28:40 UTC

 Aliens!! Shocked
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
Hmm, but what about BIP148? I thought that was at midnight.
legendary
Activity: 1078
Merit: 1441
So is it August 1st wherever it's supposed to be August 1st yet?

August 1 12:50pm in New Zealand and bitcoin still working, so looks like everything will be fine.  Roll Eyes
Yes, its 1am UTC, when is this meant to be happening?

Handy little countdown clock currently on display here  = https://coin.dance/

On August 1, 2017 12:20PM UTC,

In about 11 hours 15 mins time from now

legendary
Activity: 1946
Merit: 1035
Confusing because I thought that BIP148 was a non-issue and that BIP91 pretty much nullified BIP148 because it accomplishes the same objectives that are outlined in BIP148 and even BIP148 has language to the effect that it is nullified if segwit BIP141 is in the process of locking in or maybe it has to be locked in for BIP148 to be nullified?

It is very confusing indeed. Here is my understanding, but I might be wrong, feel free to correct me.

UASF (BIP148) is logically redundant because of BIP91, which share the same SegWit (BIP141) implementation, but with a different activation time: as I'm writing this, there are still 1325 blocks remaining before BIP141 is expected to lock in, while BIP148 starts just about now. But using SegWit before BIP141 activates would be silly because SegWit requires "protection" from network consensus made for SegWit (sorry for the massive oversimplification), and there are not enough BIP148 nodes on the network to offer this.
member
Activity: 174
Merit: 10
So is it August 1st wherever it's supposed to be August 1st yet?

August 1 12:50pm in New Zealand and bitcoin still working, so looks like everything will be fine.  Roll Eyes
Yes, its 1am UTC, when is this meant to be happening?
legendary
Activity: 1806
Merit: 1828
So is it August 1st wherever it's supposed to be August 1st yet?

August 1 12:50pm in New Zealand and bitcoin still working, so looks like everything will be fine.  Roll Eyes

Let's just hope the BCC code doesn't have a bug that ends up confusing the nodes that are not BIP91 or UASF enforcing...

Or worse, a bug and a BCC miner signals for Segwit.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
So is it August 1st wherever it's supposed to be August 1st yet?

August 1 12:50pm in New Zealand and bitcoin still working, so looks like everything will be fine.  Roll Eyes
sr. member
Activity: 502
Merit: 251
Whats the scoop on trezor, can you move BCC directly to an exchange from there ? I wanna dump that garbage first thing tom morning

They are going to do a firmware update to the Trezor, and it will include some process to move the BCC to different addresses. No firm date when the firmware will be available. You may have to wait, and by that time, your BCC will probably be dust unless you have lots of BTC.

https://blog.trezor.io/bitcoin-cash-hard-fork-chain-split-safe-guide-abbe3e9c553f

Eh, whatever. I was gonna totally ignore it anyway til i saw Nick Szabo's comment the other day....convinced me to dump it.
legendary
Activity: 1806
Merit: 1828
Whats the scoop on trezor, can you move BCC directly to an exchange from there ? I wanna dump that garbage first thing tom morning

They are going to do a firmware update to the Trezor, and it will include some process to move the BCC to different addresses. No firm date when the firmware will be available. You may have to wait, and by that time, your BCC will probably be dust unless you have lots of BTC.

https://blog.trezor.io/bitcoin-cash-hard-fork-chain-split-safe-guide-abbe3e9c553f
legendary
Activity: 1078
Merit: 1441
So is it August 1st wherever it's supposed to be August 1st yet?

Handy little countdown clock currently on display here  = https://coin.dance/

On August 1, 2017 12:20PM UTC,

Edit: 11 hrs 34 mins and 30 seconds ish
sr. member
Activity: 502
Merit: 251
Whats the scoop on trezor, can you move BCC directly to an exchange from there ? I wanna dump that garbage first thing tom morning
legendary
Activity: 3598
Merit: 2386
Viva Ut Vivas
So is it August 1st wherever it's supposed to be August 1st yet?
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
I thought that this thing was supposed to go at noon UTC and not midnight UTC?  What am I missing?  12 hours earlier than expected?

UASF (BIP 148) should activate within a few minutes as the chain median time reaches midnight UTC.

UAHF ("Bitcoin Cash") will activate when median time hits 12:20 UTC.

https://www.btcforkmonitor.info/

Confusing because I thought that BIP148 was a non-issue and that BIP91 pretty much nullified BIP148 because it accomplishes the same objectives that are outlined in BIP148 and even BIP148 has language to the effect that it is nullified if segwit BIP141 is in the process of locking in or maybe it has to be locked in for BIP148 to be nullified?
legendary
Activity: 3948
Merit: 11416
Self-Custody is a right. Say no to"Non-custodial"
https://steemit.com/cryptocurrency/@anonymint/shocking-crisis-coming-to-cryptocurrency-in-sept

I don´t get the part of "stealing" segwit transactions. It sounds like bullshit, but Anonymint have a greater tech knowledge than me. Can some tech savvy user confirm it?

Yes. It is a well-known attribute of SegWit.

It is a well-known stupidity of people claiming this.

Well, you can pretend that an 'anyone can spend' transaction is something other than an 'anyone can spend' transaction. But of course that would be tautologically impossible.

Jbreher:

You and some of the big blocker nutjobs seem to have tendencies to cry wolf so much that if there did happen to be a real issue or a real problem, then it is possible that people might not believe you because they have been exposed to too many exaggerations,  made up facts and made up conclusions, right?

Wrong.

Sometimes, I state facts, and sometimes, I render opinions. I try not to exaggerate, I don't make up facts, and I try to keep my conclusions rational. When challenged, I produce rationale for my statements. Sometimes, I even get things wrong, but I always try to be truthful.

You, OTOH, tend to repeat dogma as if it were settled truth, and avoid providing any basis for your utterances.

Issue in a nutshell:
- On a network where miners do not honor SegWit, all segwit transactions are 'anyone can spend' transactions
- On such a network, each successful miner can spend any 'anyone can spend' transaction to himself
- As segwit is used (e.g., on a segwit-honoring network), more value gets locked up in segwit/'anyone can spend' transactions
- As more value is built up in segwit/'anyone can spend' transactions, this increases the incentive for miners to flip the network from segwit-honoring to non-segwit
- This pressure increases with increasing use of segwit. Even if initially stable, the system tends further toward instability.
The net is that smallblockers need to trust the miners -- whom they seem to already believe to be evil -- to not steal their segwit transactions.

Of course, one can convert a segwit coin back to a bitcoin by spending it to yourself in a non-segwit transaction. But that also mandates a second transaction, thereby nullifying and even reversing segwit's so-called capacity increase.


Sounds very speculative and hypothetical to me.. maybe even pie in the sky.   Sure, it is great that segwit is going to get locked in and then going to get activated in order that we can see how a variety of speculative and hypothetical matters are going to play out and to see whether functional work around systems are going to be developed in order to account for some of the potential issues and problems.    Things are GREAT!!!! in bitcoinlandia, and lots of excitement in the coming months to see how developers may create products around segwit.   Grin Grin

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