Got a nice repound pump going on and all anybody wants to talk about is XT. Maybe this thread should be fork free.
I am enjoying the BTC pump today bc lord knows my stock holdings are getting slaughtered today
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 20980. (Read 26610718 times)
August 20, 2015, 03:10:21 PM
I am enjoying the BTC pump today bc lord knows my stock holdings are getting slaughtered today
August 20, 2015, 03:09:04 PM
August 20, 2015, 03:02:29 PM
August 20, 2015, 02:45:07 PM
A miner's ultimate incentive is the block reward which requires the survival and adoption of Bitcoin so that the reward can actually be worth something. A solution that causes investors to panic and devalue Bitcoin is not one that they would logically adopt.
Neither solution causes investors to panic nor devalue Bitcoin (yet). The long squeeze on BFX had little to do with this, IMHO. The fact that the BTC price stabilized in about three hours around $233 (a decrease of 8%) proves this. What happened to the Chinese stock market, a drop of one third in three weeks time, is what can be called a panic.
Traders love news they can use and forced a shakeout on the XT uncertainty (there was a Forbes article) to weed out the last remaining holdout weak hands. The stabilization is a natural market dynamic--a rebound effect caused by shorts covering and high quality demand.
A lot of people sold (not just on Finex) into the dropping price and low sentiment, which devalued Bitcoin. It is absolutely related to uncertainty caused by XT.
Exactly! The sentiment was used by traders to make a buck. That's why it can't be called a panic, the traders didn't panic at all. An 8% drop (or gain) is nothing unusual for a small market like BTC.
Still saavy traders need sellers to follow them down or it's not profitable. So it's not all manipulation--think of it as testing the market for supply. And the market reacted with nothing but uncertainty over it.
Once we clear $238 or so it's game on for the bulls.
August 20, 2015, 02:43:15 PM
A miner's ultimate incentive is the block reward which requires the survival and adoption of Bitcoin so that the reward can actually be worth something. A solution that causes investors to panic and devalue Bitcoin is not one that they would logically adopt.
Neither solution causes investors to panic nor devalue Bitcoin (yet). The long squeeze on BFX had little to do with this, IMHO. The fact that the BTC price stabilized in about three hours around $233 (a decrease of 8%) proves this. What happened to the Chinese stock market, a drop of one third in three weeks time, is what can be called a panic.
Traders love news they can use and forced a shakeout on the XT uncertainty (there was a Forbes article) to weed out the last remaining holdout weak hands. The stabilization is a natural market dynamic--a rebound effect caused by shorts covering and high quality demand.
A lot of people sold (not just on Finex) into the dropping price and low sentiment, which devalued Bitcoin. It is absolutely related to uncertainty caused by XT.
Exactly! The sentiment was used by traders to make a buck. That's why it can't be called a panic, the traders didn't panic at all. An 8% drop (or gain) is nothing unusual for a small market like BTC.
August 20, 2015, 02:36:23 PM
Got a nice repound pump going on and all anybody wants to talk about is XT. Maybe this thread should be fork free.
August 20, 2015, 02:29:26 PM
Solution will come in due time. Unlike what Gavinco would like you to believe there is no rush.
If there is consensus right now amongst relevant actors, it's that XT is not that solution.
See you weren't so wrong. The proper "we" will take action and the ones left in the dust will be Mike & Gavin.
If there is consensus right now amongst relevant actors, it's that XT is not that solution.
See you weren't so wrong. The proper "we" will take action and the ones left in the dust will be Mike & Gavin.
I'm fine with that if it happens.
August 20, 2015, 02:26:13 PM
A miner's ultimate incentive is the block reward which requires the survival and adoption of Bitcoin so that the reward can actually be worth something. A solution that causes investors to panic and devalue Bitcoin is not one that they would logically adopt.
Neither solution causes investors to panic nor devalue Bitcoin (yet). The long squeeze on BFX had little to do with this, IMHO. The fact that the BTC price stabilized in about three hours around $233 (a decrease of 8%) proves this. What happened to the Chinese stock market, a drop of one third in three weeks time, is what can be called a panic.
Traders love news they can use and forced a shakeout on the XT uncertainty (there was a Forbes article) to weed out the last remaining holdout weak hands. The stabilization is a natural market dynamic--a rebound effect caused by shorts covering and high quality demand.
A lot of people sold (not just on Finex) into the dropping price and low sentiment, which devalued Bitcoin. It is absolutely related to uncertainty caused by XT.
August 20, 2015, 02:24:13 PM
The "we" you're referring to is the crowd. The "we" you represent doesn't have a say in this issue
Stupid analogy. It's more like wanting to remove the 72mph governor while everyone else is wanting to add spoilers, huge bass amps and hydraulic suspension
August 20, 2015, 02:22:37 PM
Hearn's biggest problem, and one of Bitcoin's biggest headaches right now, is simply his ego. He's taken his minority position and tried to redefine consensus. Whilst it's true that the core team needed more persistent and effective pressure - call it lobbying - about increasing the block size sooner rather than later, XT is just an impatient ego-driven power play. I'll give him the benefit of the doubt on whether or not that was his original intent but we are where we are.
Just my thoughts FWIW.
Just my thoughts FWIW.
August 20, 2015, 02:17:07 PM
About 12% of nodes are running XT with zero blocks mined.
13% and 2 blocks mined.
http://xtnodes.com/
https://getaddr.bitnodes.io/nodes/
A miner's ultimate incentive is the block reward which requires the survival and adoption of Bitcoin so that the reward can actually be worth something. A solution that causes investors to panic and devalue Bitcoin is not one that they would logically adopt.
Neither solution causes investors to panic nor devalue Bitcoin (yet). The long squeeze on BFX had little to do with this, IMHO. The fact that the BTC price stabilized in about three hours around $233 (a decrease of 8%) proves this. What happened to the Chinese stock market, a drop of one third in three weeks time, is what can be called a panic.
August 20, 2015, 02:12:44 PM
Advice: Just think of XT as a security valve. If the core deadlock continues, the miners will opt out
And leave Bitcoin in the hands of "benevolent" dictator Mike Hearn and his blacklists? Sure...
... there is no reason why the core devs can't update the fork when the dust settles.
"Update the fork" ?
How is that suppose to work again?
You just negotiate a deal with the NSA where you provide chinese miners as slaves in return for access to the mothership.
Or find common ground with the XT team and agree on an update. Or just do what Gavin and Hearn is doing.
Nahh.. NSA/Mothership.
common ground with the XT team ??
you haven't been following too well have you.there is no place for common ground in XT: https://bitcoinxt.software/faq.html#who-is-involved
Quote
Decisions are made through agreement between Mike and Gavin, with Mike making the final call if a serious dispute were to arise.
... and he will include a link to the new code fork on his pages.
I'm sure he will welcome the pull request of everyone who NACKed him over the years with open arms
August 20, 2015, 02:10:01 PM
That is all they got in the 0.022 years since the 8 MB XT code was released. They have only 316'000 minutes left before the end of the year. What a flop.
That's if we're to assume all these nodes are in actual XT-nodes
notbitcoinXT doesn't make any sense. if blocks are stamped with bitcoinXT, they contribute toward the 75% supermajority, correct? why would anyone opposing XT want that supermajority activation triggered?
I lack the programming skills to see how this would slow XT adoption.
It would reduce the confidence miners considering adopting XT have that they will end up on the supermajority side of the fork. The fork may be triggered prematurely when only a minority of miners are really interested in XT.
August 20, 2015, 02:02:38 PM
August 20, 2015, 01:58:40 PM
notbitcoinXT doesn't make any sense. if blocks are stamped with bitcoinXT, they contribute toward the 75% supermajority, correct? why would anyone opposing XT want that supermajority activation triggered?
I lack the programming skills to see how this would slow XT adoption.
I lack the programming skills to see how this would slow XT adoption.
Of course. It's another double bluff from the NSA-bag of dirty tricks.
Strange that anyone struggles to see it from a mile away.
August 20, 2015, 01:55:35 PM
3200 BTC on Stamp to get through to get back to 250.
Now only 2,600 BTC on Stamp to get us back to 250.
August 20, 2015, 01:47:05 PM
Advice: Just think of XT as a security valve. If the core deadlock continues, the miners will opt out
And leave Bitcoin in the hands of "benevolent" dictator Mike Hearn and his blacklists? Sure...
... there is no reason why the core devs can't update the fork when the dust settles.
"Update the fork" ?
How is that suppose to work again?
You just negotiate a deal with the NSA where you provide chinese miners as slaves in return for access to the mothership.
Or find common ground with the XT team and agree on an update. Or just do what Gavin and Hearn is doing.
Nahh.. NSA/Mothership.
common ground with the XT team ??
you haven't been following too well have you.there is no place for common ground in XT: https://bitcoinxt.software/faq.html#who-is-involved
Quote
Decisions are made through agreement between Mike and Gavin, with Mike making the final call if a serious dispute were to arise.
... and he will include a link to the new code fork on his pages.
August 20, 2015, 01:38:00 PM
That is all they got in the 0.022 years since the 8 MB XT code was released. They have only 316'000 minutes left before the end of the year. What a flop.
That's if we're to assume all these nodes are in actual XT-nodes
notbitcoinXT doesn't make any sense. if blocks are stamped with bitcoinXT, they contribute toward the 75% supermajority, correct? why would anyone opposing XT want that supermajority activation triggered?
I lack the programming skills to see how this would slow XT adoption.
August 20, 2015, 01:23:07 PM
Bitcoin XT is the only viable implementation of BIP 101
It is not. Any miner can make a copy of XT and remove the patches that he objects to. Or make a copy of Core and add only those XT patches that implement vote-triggered 8MB limit.
If you are not a miner, you (or any programmer you trust) can make a copy of Core, simply raise the size limit to 8 MB, and start running that version any time before the fork actually happens.
I'm not sure the masses of adopters are gonna do this / or even know-care about the possibility. Vanilla XT is the intended norm.
August 20, 2015, 01:17:43 PM
maybe we will see the next bubble soon because bought coins are safe until the fork will happen or not.
thinking about to buy more Bitcoin core coins until the storm is over.
thinking about to buy more Bitcoin core coins until the storm is over.
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