Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19954. (Read 26608364 times)

Manipulative bearwhales control this shit. Why can't we break 400.

I meant that, in general, the devs like soft forks because they can be deployed in "stealth mode", without alerting all the users and nodes -- and therefore avoiding "wasteful" questionings and explanations.  See BIP66 last July, and BIP65 that was just enabled yesterday.

In this case too, the devs seem to be decided to roll out SW without waiting for it to be scrutinized and approved by the community.  (No independent applications will break, of course,  unless they deserve to break.)

I don't know whether SW is good for the devs overall, but some features at least are needed for their planned "bitcoin 2.0" products.  I have yet to see why it is good for clients, or even for the relay nodes (the witnesses still have to be relayed, and blockchain pruning can be done even without SW.  IN fat, that is what the UTXO database is -- a pruned and indexed copy of the blockchain.



I am not assuming that.

I am assuming that, with a 1 MB limit, the network will each saturation in mid 2016. (Although there has been an extra increase in November, so that may happen in Q1 already.)  I am also assuming that, six months after SW is deployed, half the traffic will still be using the old format.  Then, even with half the traffic in SW format, the network will saturate anyway  in 2016, but perhaps in the second half only. 


I am totally confident that the core devs will deploy such a change in 1 month, with holidays in the middle. 

$396.09 on Stamp as I type this, so near yet so far from the magic $400.

Incredible how we can't get over that last $4.

When referring to BTC price generically, we go by Bitstamp's price, here unless otherwise specified.


Accordingly, Bitstamp has not yet gone beyond $400 in the past week - I believe $399.91 is as close as it has been to $400.

Along with CLTV, SW is another piece of the LN puzzle solved. Seems like Blockstream wins again.

Coin



Explanation

 Are you insinuating that SW isn't good for them? They will eventually change as most users do update their wallets regularly and this has 100% consensus with devs.



Users can decide to immediately use bitcoin core or wallets that have the upgrade if they want. You are assuming that we are already at 100% capacity and SatoshiDice is going to rush in to exploit the extra bandwidth. We aren't using our capacity now, what makes you think that building bigger capacity will insure that it immediately gets filled?

Its a bit odd that you are both so skeptical of bitcoin but so optimistic at the same time expecting huge growth in usage and tx's(whether you think those tx are legitimate or not is inconsequential as it represents growth in the ecosystem). Or perhaps you are hoping that blockstream and core fails to deliver scalable capacity improvements and bitcoin bloats from spam so it becomes technically unusable? This would explain a lot of your vitriol for them.


SW is indeed a piece of the puzzle to increase capacity along with the list of changes that are being outlined in the provided link that you appear to have ignored. ETA for SW moving over from sidechain testnet to main bitcoin testnet this month and deployment in late 15 or jan 16'

Why are you so interested in Bitcoin's well being and against the "fee market"? Why not be an impartial academic observer and watch as these events unfold? Do you have some sort of stake in large blocks being the primary means of growing capacity vs these more holistic approaches that take into consideration many variables ?

I suppose you could have been watching this drama for so long that you have built a natural preference for certain "teams" and irrationally invest in an outcome you have no stake in. Happens all the time with sports fanatics. Is this the case with you?

Not so "automatically".  The reason why the devs like soft forks is that they can deploy the protocol changes without having to alert everybody to upgrade (and therefore to explain *why* the change is good for them).


What I meant is that big junk generating businesses can upgrade to exploit SW immediately, while the majority of the occasional clients will take months to do so.


Phew, for a moment I was afraid that Blockstream had relented and proposed SW as a way to increase the capacity and avoid congestion.  But with users inertia and a bit of help from junk generators, the "fee market" may still begin in six months or so. 

So everything is back to the status quo in diebus bello, and the Bitcoin Stalling Conference had the outcome that everybody expected.   

https://youtu.be/9jK-NcRmVcw

Coin



Explanation

I don't pretend to assume how quickly bitcoin will scale, although I would rather have better optimised solutions like SW vs BIP101 to address capacity with a list of backstop hardfork options for  last minute solutions in un-expected growth spurts -



Lite wallets and SPV nodes will be upgraded automatically to take full advantage of SW and users will naturally upgrade without much thought. SatoshiDice will be constrained to compete with everyone else and have no advantages.


This is false as the average load for 100% full blocks would be around 2MB with only approaching short of 4MB for heavy multisig.

There are other technical nuances that benefit full nodes with SW such as-
Existing full nodes already do not validate signatures in the far past-- with SW they could also skip transferring them among other benefits .

Here is an example if you have any doubts as to why you are incorrect-

Have you seen the nonsense spam posts in the bitcoin discussion board? There has been a troll consistently spamming that board with nonsense posts for days. Here is an example of one. Those are real troll posts and it's not JorgeStolfi posting them.

Just a couple of hours left for dumpers to break support and crash... If not, some sideways and then a push to about 430$...

looks like the phase of criticalness begins, anybody scared?

You seem to be assuming that the "fee market" will set in and space in blocks will be a scarce resource.  But, if a sizable fraction of the traffic adopts SW, the fee market will be delayed by another 2 years at least.  Large junk traffic generators like SatoshiDice can avoid paying higher fees by using the SW format, while miners and full non-mining nodes will see their bandwidth demands increase beyond the 1 MB mark, just as if the block size limit had been raised to 4 MB right now.

Coin



Explanation

Market Sentiment

Longs | Shorts

BitcoinMarkets Flair *
50% | 50%

OKCoin Elite Traders
50% | 48%

OKCoin Futures Position Ratio
39.26% | 34.65%

Bitfinex (24h)
75.9% | 24.1%

Whaleclub.co Top Traders
46.64% | 53.36%

* calculates flair changes from bullish to bearish and vice-versa in the past 24 hours

That price action is so sustainable.

Also, the only active troll on the forum is Strollfi.

Good work, fellows

That's a particularly idiotic statement. And it's not even from brg444 or hdbuck.

Everyone that is part of "XT altcoin is sacred" crowd is idiot/troll/shill.