Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19547. (Read 26609713 times)

Do you think so?

I'm not too sure, what are you basing that prediction on? Hope you're right.

Speaking of volatility... I am not sure what to make of this recent price action.

Coin


Explanation

And a new post-Hearn high hit on China. Must be a painful time to be short 

Are we going to crack $420? The market is/was on a small but rapid upswing, according to preev.com anyways. Is the value really rising that rapidly, or am I being too wishful right now?

Currently averaging at $418.4 as I complete this post.
Oh. Welp, there goes the upswing.

Chinese pump. 3000 yuans in a few hours. Enjoy the show.

Nice to hear.

It is rather sad that you are so political that you assume that discussing hypothetical attack vectors, which I would happily discuss if the shoe was on the other foot and I preferred Classic, makes you assume that I am threatening you. What I care about is a strong and healthy bitcoin ecosystem so we have to be mindful of all attacks internally and externally.

You suggest that the chain with 25% hash power is in the economic minority which is just flatly inaccurate. The sunk costs in previous generations of ASICs aren't worth much more than a doorstop with a flood of new money buying the latest generation of ASICs. 75% of Miners are not necessarily the economic majority. What is interesting about this attack is even if 95%+miners temporarily support the new coin (I.E.. Bitcoin classic) and every exchange supports bitcoin classic and refuses to accept bitcoin core coins, the attack can come unannounced as the ASIC manufactures can have a shell company or investors buy them out and use their own coin to simultaneously dump the price and gain a majority of the hashpower. To those that oppose a coup, they wouldn't even see this as underhanded but protecting the interests of the ecosystem and increasing the hash power.

Dude, you should show more respect to people more wealthy and clever than you.

Haha, shame the price won't go up 10% after this nobody quits bitcoin

Yeah, it's stupid. Anyone who's experienced petty arguments in academia knows what this is about. They should just fold and move on, it's getting embarrassing.

Good for you, and bad for us.... hahahahaha 

We gotta put up with more fake quitting drama........ and fewer coins for us.   

Huh?  How do you otherwise phrase your questions? It was a question - "are you suggesting...?" What other way would you ask it? 

So... not a threat, but if you follow the minor majority 'certain' bad things will happen....  Okay.  I've seen Goodfellas, so I think I get that.... The 'dangers' you speak of is if i follow that miner majority, you and your dev friends will mess me up with all your coinz. Got it.


You see this is all based on your initial flawed concept:



If you are on the weak/shorter chain, you are already the economic minority. You can convince yourself otherwise - that big bags of coins will redress the imbalance - but it wont. Only deliberate fraud and criminal actions will delay the inevitable - and I'm sure you are not really proposing that.

2017!! So funny.

I think he's referring to f2pools tentative agreement with core about a 2mb block size in 2017.

So we know f2pool and probably Kano supports core. Kano is insignificant and f2pool might shrink quite a bit in a couple of months.

Apparently, it's YOU who didn't get the news.

I think the blocks received vs blocks sent has interesting implications for complaints of how bandwidth intensive it is to run a node. Having to forward everything to 8 other nodes, my arse.

https://statoshi.info/dashboard/db/blocks

I have a better suggestion, run bitcoind headless and mSIGNA.

Have mSIGNA connect to your local bitcoind node (is the default) ... mSIGNA is as good as (imo better than Armory) enterprise level SPV wallet but since you connect to your own local node you get full node security (and privacy if bitcoind set-up right). mSIGNA has multi-sig, HD seed back-ups, separate accounts and few other slick wallet bits and piece.

Which I why I phrased it in the form of a question. I did indeed bring it up, but not as a threat but to clarify to others the dangers of a minor majority fork of 75%  and how such a low number can cause a civil war where the apparent chain with the advantage can quickly becomes the losing chain. Once Bitcoin classic releases code I warn users to pay attention and be ready to pull their coins out of exchanges and store them in cold storage during any network split.


How so? I don't think you understand the nature of the attack clearly. Let me elaborate...

1) Either individually or collectively the economic majority on the chain with less hash power spends their coin on the chain that isn't being attacked and/or has the greatest value associated with a corresponding exchange. If they spend the coins on the chain with greater hashing power they remove any risk of a 51% attack.

2) The coins are sold for fiat, driving the Bitcoin classic coin down in value dramatically

3) The fiat is used to invest in asic companies , buy asics and/or mining pools in order to quickly recover the majority of hashing power

4) The investment simply strengthens their coin and is not wasted as they return a profit off the newfound mining operation.  


Whether the ddos attacks where orchestrated by opponents or Hearn himself to garner sympathy I am against this behavior. That form of censorship harms us all. People should have a fair choice to accurately hear the technical details of classic and cores proposals and make an informed decision.


I completely agree with this statement, but for very different reasons. There are deals being made as we speak to end this and come to consensus. The miners tend to be highly conservative by nature unlike some of the btc banks and processors who are biased towards prioritizing volume and adoption. While the miners want adoption like we all do, they have other considerations that exchanges/banks/processors don't have.

Indeed, one would like to see the contribution of the node to the network. Some graphs, bandwidth usage, etc. That will be seen as the reward for running a node, instead of just a static GUI screen / terminal screen.

https://statoshi.info/ is a great start for some inspiration.