Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19519. (Read 26610659 times)
January 23, 2016, 09:22:54 PM
Fun fact: Peter Todd was corresponding with Hal Finney when he was 15.
January 23, 2016, 09:12:50 PM
Blockchain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain of fools
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain of fools
what are you talking about? what does that mean? are you talking about the flooded mempool or such matter?
this seems to be like a spam. i am not sure if the chain is actually 'chain of fools'.
Certainly. Let me explain.
If you return to the previous page you will find a rather humourous back and forth beginning with this:
Why do you fools really think there will be 2 chains lasting longer than a couple days 
The mempool's flooded, you say?
January 23, 2016, 09:01:34 PM
January 23, 2016, 08:27:53 PM
Blockchain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain of fools
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain of fools
what are you talking about? what does that mean? are you talking about the flooded mempool or such matter?
this seems to be like a spam. i am not sure if the chain is actually 'chain of fools'.
January 23, 2016, 08:22:18 PM
Why do you fools really think there will be 2 chains lasting longer than a couple days
The losers will maintain their ShitChaintm just to annoy us.
Call me a commie pinko liberal faggot if you like but I'd get a boner for democratic governance and democratic mining. Who wants to fork with me? I think we all deserve another one.
My favorite rockstar might have a point...or a fork
January 23, 2016, 08:01:37 PM
January 23, 2016, 07:44:51 PM
Vitalik just got finished describing SegWit as basically an ugly kludge of code. Doesn't he know about the transaction malleability? Mt. Gox? Kittens??
Yeah, I forgot that Krapeles tried to blame the collapse of MTGox on Tx malleability. I hope that Japanese prisons are as unpleasant as WWII Japanese prisoner-of-war camps. It will save some victim of his from the trouble of having to murder him.
January 23, 2016, 07:38:22 PM
Vitalik just got finished describing SegWit as basically an ugly kludge of code. Doesn't he know about the transaction malleability? Mt. Gox? Kittens??
January 23, 2016, 07:36:02 PM
Why do you fools really think there will be 2 chains lasting longer than a couple days
-snip-
a couple of minute ...
January 23, 2016, 07:23:16 PM
Blockchain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain of fools
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain, chain, chain
(Chain, chain, chain)
Chain of fools
January 23, 2016, 07:22:31 PM
There is absolutely no possibility of forking away from Proof of Work. That is simply too radical of a change to gain any traction. There is a very remote possibility of forking to a different POW algorythm,but that would likely be in the distant future if some advancement in computing power such as quantum computing renders SHA256 obsolete. It would serve no purpose to do fork in order to get away from mining being concentrated in China. It's cheep electricity that gives them an advantage and that will give them an advantage with any POW scheme.
Similarly, there is no possibility of successfully forking away from the 21 Million BTC cap.Any serious proposal to do that would trigger a catastrophic market dump if it even started to gain any credibility.
The 1 MB cap on block size is a different scenario entirely. Without raising the limit, BTC appreciation is severely limited. There is no way a significant increase in BTC valuation will not attract enough new users to clog the mempool and render the network unreliable.
If I had to guess, I would say the general direction of the market is down until AFTER a successful hard fork to increase capacity. In any case, it's risky to be long, even if you support Bitcoin Classic and you see support growing. I have a suspicion that the natural differences in opinion, vision and philosophy are being exacerbated by some force hostile to our project and is carrying out a successful rough consensus attack. If that's true, there is no reason to assume that this attack will cease until a competing coin gains a critical mass or market share.
I don't know what's worse: that somebody found and is exploiting Bitcoin's governance vulnerability or that governance is so bad that development is fracturing on it's own without help.
Similarly, there is no possibility of successfully forking away from the 21 Million BTC cap.Any serious proposal to do that would trigger a catastrophic market dump if it even started to gain any credibility.
The 1 MB cap on block size is a different scenario entirely. Without raising the limit, BTC appreciation is severely limited. There is no way a significant increase in BTC valuation will not attract enough new users to clog the mempool and render the network unreliable.
If I had to guess, I would say the general direction of the market is down until AFTER a successful hard fork to increase capacity. In any case, it's risky to be long, even if you support Bitcoin Classic and you see support growing. I have a suspicion that the natural differences in opinion, vision and philosophy are being exacerbated by some force hostile to our project and is carrying out a successful rough consensus attack. If that's true, there is no reason to assume that this attack will cease until a competing coin gains a critical mass or market share.
I don't know what's worse: that somebody found and is exploiting Bitcoin's governance vulnerability or that governance is so bad that development is fracturing on it's own without help.
January 23, 2016, 07:18:15 PM
The more contentious alternatives the better. The HF only triggers at 75% - thats 75% for Classic.
That means that core must now share the remaining 25% with all the other implementations. They will attack each other into oblivion.
Check out the link, comrade. There is no competing over 25% remaining ASICs' with what is being discussed. It is both fascinating and encouraging and we shouldn't worry regardless the outcome. I am at peace with a potential HF and Classic. Either way, the future is great.
P.S.. 75% of hashing does not equal an economic majority or a majority of users. Appears to be more supporting Core, but who knows , such a difficult thing to measure. GPU only mining would bring in many new participants who left for other alts long ago , and casual gamers with good gpus as well .
Any fork with a low hashrate would be subject to what Luke-jr did
January 23, 2016, 07:13:01 PM
Why do birds sing so gay, and lovers await the break of day?
Ooooo wah, oooooo wah, ooooo wah, oooooo wah,
ooooo wah, oooooo wah, Why do fools fall in love?
January 23, 2016, 07:07:09 PM
Why do you fools really think there will be 2 chains lasting longer than a couple days
January 23, 2016, 07:04:01 PM
Why do you fools really think there will be 2 chains lasting longer than a couple days
The losers will maintain their ShitChaintm just to annoy us.
Call me a commie pinko liberal faggot if you like but I'd get a boner for democratic governance and democratic mining. Who wants to fork with me? I think we all deserve another one.
January 23, 2016, 07:01:35 PM
January 23, 2016, 07:00:53 PM
Why do you fools really think there will be 2 chains lasting longer than a couple days
January 23, 2016, 06:57:45 PM
From my recollection, the group threatening the "nuclear option" is not promoting core, but promoting a pure, uncluttered version of bitcoin they have been working on (available here -> http://thebitcoin.foundation )
If bitcoin hard forks, and if your preferred fork were not in the majority, a change PoW algorithm would be rational and recommended. In fact, depending on the split of hashpower, refusing to change the proof of work algorithm would be suicidal.
I'm still undecided, I appreciate the value that a group like blockstream can offer in terms of innovation. I also appreciate the value of a group like The Serene Republic can offer in terms of protecting the vision of incorruptible money.
I have no dog in this fight, and I haven't been following very closely lately. My position is set, my coins are old and will spend on whatever forks emerge so I'm not as immersed as I used to be. --but... if you are bullish about the long term prospect of bitcoin, but uncertain of the resolution of this bitcoin civil war, your best option might be to simply secure as many bitcoin as you can before the hard fork happens to secure your place on all subsequent forks.
If bitcoin hard forks, and if your preferred fork were not in the majority, a change PoW algorithm would be rational and recommended. In fact, depending on the split of hashpower, refusing to change the proof of work algorithm would be suicidal.
I'm still undecided, I appreciate the value that a group like blockstream can offer in terms of innovation. I also appreciate the value of a group like The Serene Republic can offer in terms of protecting the vision of incorruptible money.
I have no dog in this fight, and I haven't been following very closely lately. My position is set, my coins are old and will spend on whatever forks emerge so I'm not as immersed as I used to be. --but... if you are bullish about the long term prospect of bitcoin, but uncertain of the resolution of this bitcoin civil war, your best option might be to simply secure as many bitcoin as you can before the hard fork happens to secure your place on all subsequent forks.
There are alternative forks with different visions that are looking to jump at the opportunity with this hardfork and they are already working on the code---
https://medium.com/@vcorem/lesson-learned-from-the-classic-coup-attempt-or-why-core-needs-to-prepare-a-gpu-only-pow-6a9afe18e4b0#.gpzfq1qtw
Looks like there might be multiple penitential chains created . Potentially a 3 for 1 "stock" split?
Very interesting. I suppose this is all possible when you have a contentious HF and a low 75% fuse.
The more contentious alternatives the better. The HF only triggers at 75% - thats 75% for Classic.
That means that core must now share the remaining 25% with all the other implementations. They will attack each other into oblivion.
Quote
Final thoughts
In the long term, in case of chain split, I think that Core’s better governance model and far better technical team will cause it to have a higher market cap.
We’ll have an interesting dichotomy:
Classic will have (kind of) democratic governance but centralized, ASIC based mining.
Core will have (kind of) meritocratic governance but democratic, GPU based mining.
In the long term, in case of chain split, I think that Core’s better governance model and far better technical team will cause it to have a higher market cap.
We’ll have an interesting dichotomy:
Classic will have (kind of) democratic governance but centralized, ASIC based mining.
Core will have (kind of) meritocratic governance but democratic, GPU based mining.
This is the future. Core will never relent.
January 23, 2016, 06:55:16 PM
Why would anyone come back?
The siren lure of potential cashola? I assume there would just be GPU farms instead though, then evil ASICs masquerading as GPUs. Then it all goes down in flames.
Lol exactly.
January 23, 2016, 06:46:02 PM
its a pity to see that the price is not recovering and that the price is neither going down nor growing up, i cant wait to see some more action in the bitcoin price and how will everything turn out with the block size limit
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