Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19551. (Read 26609780 times)

Wow, can you smell the bitcoins at $3K! 

inevitably we will have to increase block size

but with Segwit and all the other scaling work done, we won't need much more than a few dozen MB in the end.

Hopefully you aren't presenting a false dichotomy... as core is soft forking higher to an effective 2MB with Segwit , and classic is HF higher to 2MB with BIP 102. Your statement above is misleading as it insinuates that core needs to fold to increase capacity when they already decided to increase the blocksize with segwit last year.

The one exception to a huge rise is if there is a great split in the community... as there are many large stakeholders who are core supporters and have different agendas than just going mainstream and making a big profit that others have. This is why any proposal that doesn't at least attempt to get 95% consensus of the last 1k blocks (because this merely represents a indirect rough estimate of economic node support ) is dangerous and can potentially leave us in a situation of uncertainty and during a hard fork one might see massive sell offs on both chains.  It does make for some interesting game theory as many whales are conservative large bag holders and can do things like make massive investments in ASIC's or dump their all their coins on one fork in an attempt to devalue the other chain. It would be better if they can work together especially since I don't see any real capacity differences between core and classic...but , never a dull moment, like always.

Coin



Explanation

Yep once we get consensus - either a fork higher or Core fold and increase the maximum blocksize to arrest complete loss of support from the entire ecosystem - the relief rally (conveniently timed as a pre-halving surge) could be epic.

Appears to be china news or stock market getting slammed due to uncertainty and a small amount of capital flight... when consensus is reached or other competing implementations give up I expect a much higher bump.

Why are we back above 400? Has the Toominista Rebellion really been defeated?

Your question is generic and open ended and can be interpreted in multiple ways. So I will take a stab at explaining different aspects. A node is indeed relatively cheap to produce and maintain, but nodes without economic intrest are valueless just like anything in life - fiat, assets, stocks, ect..).The reason why certain nodes are more valuable than others is because the network effect. A single user behind a full node with an active wallet is more valuable than a userless ec2 node because the node is being tested for bugs and has a real economic actor behind it that can make both economic decisions as to assigning value to items and the consensus rules within his wallet. A node controlled by a processor /wallet/ merchant has a greater value as they have a pool of users interacting with their node and thus conforming to their consensus rules.

I don't care what the full nodes do, it is irrelevant to my [implicit] question, which is: What makes you believe there's any correlation between nodes & BTC wealth?

i don't have time right now.. i am publishing Of the Mahabharata Catastrophes in a few weeks... maybe i can fit into my schedule after that.

The security of our ecosystem is dependent upon all of us, not just the devs. This goes the same for security on the internet and in meatspace.