/biz/ - Business & Finance

>>2818234
Ya it will be locked in this round the next 15 blocks will push it over 80 percent

In this round only 1 block has been mined for sw

Please God, let it happen!

Press F to spit on crypto the greedy chink miners win.

F

F

F

This is what you get for getting involved with fucking chinks

please explain why the 2x block size is bad

So if its above 80%, is it automatically over for now?

>>2818311
Yes

>>2818311
yes chinense miners can change the rules in th future =, this is a gorund test

>>2818311
Well until 6 mouths from now

>>2818311

when this thing below fills up 80% its actually confirmed

>>2818341
that would take ages

Press F to pay respects to LTC

Yo I'm a no coiner that's been watching eth and bitcoin the last 2 months. Wtf is this?

Guys since this is a soft fork, do I have to pull my BTC off an exchange or will it all update automatically?

>>2818351
xexr.com
/scaling-bitcoin-block-size-debate/

>>2818356
most exchanges say they will give you both but we all know how great exchanges can be

>>2818345
F

>>2818371
Ah I mainly use polo and topia they should be alright, wouldn't leave it on Yobit or Bitrex however

Okay anons, I need a basic gestalt.

74.9% now

>>2818356
>>2818371
>>2818401

I'm worried about this, too. I'm on Coinbase (I know, I should move). I was thinking about sending them to my blockchain wallet just in case. What are you guys thinking?

>>2818403
>>2818365

Hmm so this means I should invest heavily in bitcoin and eth?

>>2818530
i feel like something is going to take a lot of the confused normie market, can't help but think it's probably going to be ripple the cripple

how long does it take for segwit to get activated?

>>2818489


I'm aware of that. But what are the implications. So reading that chart OP posted we're looking like we're going to 2x, why wasn't 2x in anyones "triple scenario" case?

>>2818559
24 more hours

77%

77.0%

77.7%

>>2818234

You know...

History is happening before our eyes.

I'm glad to say that I'm happy I get to see it with my fellow anons.

Thank you.

I dont get it
how do miners get "too much power? with out it?

>>2819167

https://medium.com/@stevenchen009/bitcoin-forks-ulterior-motives-cf953e4ec7e0

78.4%

>>2819176

What is happening? Is this all a fabrication?

#fakenews?

>>2819176
STRAP IN MEN

Explain like I'm 5 pls is this good or bad? Buy BTC or sell

>>2819174
>https://medium.com/@stevenchen009/bitcoin-forks-ulterior-motives-cf953e4ec7e0

>which was written by the has been tested extensively.

so do we go long on btc once it hits 80%?

>its still at 78.4%

It's gonna happen in 3 hours or so when a big block of non-BIP91 blocks gets passed up in the last 144

>>2819219

still a good article.

>>2819217
>>2819225
2900 BTC July 27th cap this

>>2819243
Indeed

79.1

>>2819217
This should put the first phase of uncertainty to rest, but we already had that with earlier signalling yet we saw the rumor being sold heavily, what we are seeing is nothing more than what was expected. Risk still exists though so once some of that is confirmed lifted after smooth activation maybe we moon.

I'm actually struggling to correlate too much of the downtrend with this though, I'm seeing it as more coincidence but who the fuck knows. Either way hitting 80 days ahead of schedule is the best result we were ever going to get on this.

>>2818234
Lmao time to short bitcoin. 'Decentralized' my ass, I hope jihan dies a horrible death

Jihan say all your base are belong to us.

Just transferred ownership of btc to the chinks

Gtfo

>>2819317
>>2819305

how??

>>2819288
Why is this ahead 80 days? Wtf is segwit anyway just lighting speed fast or something

>>2819331
Bitmain calls the shots now

>>2819331

I can't speak for everyone, but my main problem with SegWit is that when implemented as a soft-fork, it can be deactivated just as easily as it was activated which would result in miners being able to steal funds.
In order to implement SegWit as a soft-fork, the anyone-can-spend transaction type needed to be repurposed as a SegWit transaction type. This was necessary since a SegWit soft-fork transaction must be still be seen as valid by a non-SegWit wallet/node.

If 51% of miners agree that SegWit should be deactivated (for whatever reason), then SegWit can be deactivated. This means that SegWit transactions change back into anyone-can-spend transactions. All BTC stored inside of a SegWit address will be spendable by anyone. Miners will obviously have first dibs on these so they will reap all of the plunder. This means that not only do miners have the ability to deactivate SegWit, but they also have the incentive. This is a very dangerous combination.

Had SegWit been implemented as a hard-fork, then this transaction type would not have been re-purposed. A new transaction type would have effectively been created for SegWit instead that has all of the wonderful benefits of SegWit (no transaction malleability, Schnorr signatures, linear sighash scaling, etc.).

I think all of the benefits SegWit has are amazing, but it's simply not worth the risk for many people to use.

tl;dr: Using SegWit transactions means you're opening yourself up for stolen funds. A hard-fork version of SegWit will have all of the benefits without the huge risk of theft.

>>2819344
It's not ahead 80 days, this happening was scheduled for this weekend but they went early.

>>2819366
So BTC is doomed and going to crash essentially then?

>>2819381
sure

>>2818234
Can we straighten out what the simplest outcomes are?
Like i understand the miners need to adopt the new standard. And we need 80% for it to happen smoothly, but if the miners don't do this, what happens, etc.

>>2819351
You just posted this on another thread:
>>2819292

Fuck off shill.

>>2819351
That's not what a soft fork and hard fork are. If you actually care to know, this is a very good presentation that explains it
https://www.youtube.com/watch?v=rpeceXY1QBM

Secondly, what you describe as a problem is exactly how a decentralized blockchain-based cryptocurrency like bitcoin is designed to work. Now that might be a problem to you, but then you have a problem with bitcoin as a whole, and not SegWit specifically.

>>2819402
Everyone gets fucked and the network is destroyed...

This won't happen.

If you think about it from a game theory perspective, in a decentralized network, everyone is acting for what's in their best interest.

Right now, miners can mine empty block, which increases fees for all of the users transactions... and why wouldn't they, they are making more money doing so.

This is eliminated with a segwit... miners are just posturing as if there is even a question of what will happen.

Devs set an ultimatum, and miners will fall in line. No one is going to tank the network over this it wouldn't make any sense... it's in no ones interest to destroy btc... and whales will destroy any new coin that pops up.

But was not Hardfork a meme?

>>2819477
yes it fucking was, the whales used it as a FUD to buy in low and make big gains when BTC moons again

>>2819381
I think I wrote that earlier post poorly. Reaching 80% is / was expected, nearly 90% already signaled the intention for this and now is just the miners actually following through on that.

I don't really see why we would have price movements on this - if anything it's good news and should have been priced in before intention was even really signaled.

>>2819512
possible

What if the price goes down because SegWit locks in?

>>2819653
sell the news as they say

JUST

>>2819512

this tbqh senpai
and it worked pretty well

So the original purpose of Bitcoin is dying tonight? Decentralization? I guess when good things start off decentralized it's only a matter of time before instituions are propped up and regulate it.

>>2819712
FUCK MY SHIT UP

>>2819729

Lol, if anything, the ability of developers outside of the Core/Blockstream cartel to implement Bitcoin code is suggesting even greater decentralization.

What's the deal with MTL?

The concept/whitepaper/team seem promising, and I never see shit about it anywhere

are you prepared

Does this mean the network will split or not? Yes, I'm retarded

>>2819863
$10,000 BTC in August, cap this.

>>2819880
It means if you sold over the last few days you're the biggest retard this world has even known

>>2819880
if it signals 80% it means the network will not split

79.8%

>Short 250k of Litecoin, 10x leverage, no stop loss

we made it

F

F

now what?

>>2819961
LIFTOFF IS IMMINENT, ALL ABOARD FOR THE MOON

>>2819962
>>2819964

>80.5%

>>2819799

80.5% SEEEEEEEEEEEEEEEEEEEEELL

FREINDSHIP WITH ETH IS OVER
BTC IS MY NEW BEST FREIND NOW.

>>2819961
F
all aboard, destination MOON!

>>2819965
CRASHING THIS PLANE, WITH NO SURVIVORS

>>2819991
>>2819986
>all these panic sellers
Sweet, I can finally buy some cheap coins again!

>>2818234

THE PUMP IS STARTING

>>2820004
Post proof of a pump or GTFO

>>2820002
>>2820000
>off by 2

>>2820004

Fuuuuuck

Going back to 3000 by friday

>>2820018
>>2820016
>>2820010
>>2820004
>>2820003
>>2820002
>>2819991
>>2819990
>>2819986
>>2819984
>>2818234

PRAISE KEK FOR HE IS THE MEME GOD

FOR ALL THOSE WHO TRULY BELIEVE IN KEK WILL BE SAVED

ENOUGH MINDS MEET


>>2819993

NOTHING HAPPENS. Buy Ethereum

jesus fuck boys we are all gonna make it after all

Bull market is back
ITS BACK

Nice just bought 100k

>a couple of autists on a laotian charcuterie BBS were wrong about the most popular cryptocurrency mooning when esoteric tech adoption hit some arbitrary percentage

it's fucking nothing. color me surprised

Is... is.... is it over?

So what happens now

so this means no split?

>>2820087
We hold over 80% until august 1st.

>>2820087
We make massive gains.

>mfw all my money tied in worthless eth tokens bags

>>2819961

Oh boy this is very, very bad.

BITCOIN CORE DEVELOPERS ARE ABOUT TO GET FIRED.

- "Wtf are you talking about?"

Look at the bottom"new york agreement" (NYA)

NYA will change the github repository to BT1 instead of BTC.

BT1 is also in hands of the Chinese, is that not lovely folks!

They can now add and scrap whatever the fuck they want.

Bitcoin is so fucked. Literally fuck these chinks and fuck bitcoin.

>>2821015
People like to say bitcoin is decentralized
The miners don't make it look like so

>>2821015
this guy is right, buy BTA now!

>>2821015
For more context: https://www.reddit.com/r/Bitcoin/comments/6lo8ua/firing_the_bitcoin_core_devs_makes_absolutely_no/

yea......

We fucked up by letting the miners dominate the hash rates. Not suprising really since haha!! Cheap labor goys! Yea it's going to bite you back in the ass twice as hard now.

>>2821018
>>2821015
fake news

kill yourself

>>2821016
It used to be decentralized until the miners took over.

Its our own damn fault for not mining our self and letting "the cheap labor chinese" do it.

The reason why this happened is because the Core developers did not want bigger block sizes. (which is just some fucking shit solution)

And they wanted to implement more privacy.

This shit sucks balls.

>>2821029

ITS NOT FAKE NEWS.

It's literally fucking not you retard you just don't want your precious bitcoin prices to go down. If you don't fucking believe me read the article here.

"The New York Agreement, sometimes referred to as “the Silbert Accord” or “SegWit2x,” is a scaling agreement forged within a significant group of international Bitcoin companies and published just before the Consensus 2017 conference in New York last May. Based on this agreement, a fork of the Bitcoin Core software client is being developed under the name “BTC1.” BTC1 developer Jeff Garzik announced the alpha release of this software last week."

https://bitcoinmagazine.com/articles/miners-are-signaling-support-new-york-agreement-heres-what-means/

((((BTC1)))) NOW FUCKING ENJOY IT YOU KEK.

>>2821041
is that the chineese version.

>>2821041
https://www.youtube.com/watch?v=67RR-S01FAQ

>>2821049
Yes and it will become the default one, the devs are basically Chinese puppets.

But fuck that I'm not using some chinked version of Bitcoin.

>>2821073
What will you be using Mr. FUD?

>>2821079
Can you not read you dense retard, can you literally not fucking read?

This is not FUD these are cold hard facts.

BTC will fork into (((BTC1))) this is not up for debate if you look at the website.

This is not FUD either now enjoy that chinese cock up your ass.

>>2821073
so ANS will prlly be like the next dash or eth... nice

>>2821086
dont listen to this goy

When Bitcoin falls, will Ethereum take its place?

>>2821086
Whatcha doing, Rabbi?

>>2821147
spraying swastikas on his own shop's walls

>>2821147
>>2821136
>>2821079

Do you really think signalling for BIP91 is going to cure Bitcoins problems, debates and power struggles? Hard forks will loom in 2017 if BIP91 passes. Please, look at the moves required AFTER this signalling phase, in both activating and failing.

>>2821208
Sounds like perfect conditions for a nice little bull rush prior to fear taking over again and creating another great buy-in opportunity.

>>2821236
Bull rush, are you kidding me?

Why would you want to buy a coin that is developed by the Chinese (((BTC1))) and all the hash power is in the hands of the Chinese.

If the government of China (which have a greaaaaat reputation) wants to do changes to BTC they now can.

What you gonna do to stop it faggot? 90% of hashing power is in hands of the Chinese.

Keep your garbage to yourself.

>>2821143
From what I understand, bitcoin isn't really associated with anyone as a pet project whereas ripple, eth etc are being back by corporates and banks for transaction and procurement purposes but I am pretty new to all this so happy to be corrected.
I don't think anyone knows how the crypto game will play out over the next decade.

>>2821370
Just switch to ETH.

>>2821030
>it's our own fault we're not bankrupting ourselves mining on western energy prices
k

Expecting a truly decentralized network to emerge for a thing depending on blowing energy out your windows by pouring computing power into a bottomless pit may have been a little naive.

>>2821370
ha rittre american think we're inferior because we do same job for shitty price

guess who's having the rast raugh now

hahaha pingpongdong hahaha fak yu

>>2821375

lol wasnt one of the driving ideas of bitcoin to upset the world order and take away the power from the bankers and the elite

and now peoples greed is driving them right back into the same jaws. Fantastic.

suu sauzand three hundra

haha your shitty rittre coin is crashing amerikan

>>2821830
>your shitty rittre coin
>amerikan
thought this thread is about bitcoin

>>2819344
>xexr.com
>/scaling-bitcoin-block-size-debate/

>>2821855
>suu sauzand three hundra

>>2818234
hey, im new to this, someone explain this shit. thx

>More likely than you'd think: BIP91 activation does *not* guarantee segwit, as if miners are false-signalling, segwit won't be enforced.

>Currently the Bitmain pools among others are signalling just bit4, not segwit, something the btc1 & segsignal software doesn't do.

https://twitter.com/petertoddbtc/status/887655576834109440

>>2822118
Man, the more time progresses, the more this BTC issue branches out.

At first it was a few dates, then a dozen beep-boop shits, now hundreds of fucking pools to look after............

F

>>2822158
I'm so hard right now

>>2821855
>rittre
>rittur
>littul
>little

>>2821830
suu sauzand suu hundra scare laowei serr nao waito boi

>>2821370
Why the fuck do you hate the gooks so much? I'd rather the gooks have BTC than the fucking burgers.

>>2822226
well played, chink

>>2822226
xiao you need to go

>>2822226
wew

good luck with that enjoy the rape

fak off gwailo BTC berong to china now

Uhh, guys? It's below 80% again.

>>2822849
only the fucking blocks matter.
fuuuuck how retarded can you be anon?

>>2822860
I'm pretty retarded, sorry.

>>2822226

>>2822860
why is this retarded?

>>2818234

http://104.131.160.52:3000/

>>2818234
So... what do this mean, and how does it affect me?

Johan is going to sabotage bip91 voting with his stealth hash army. SCREENCAP THIS.

>>2823204
80% of blocks in the lockin period?

>>2822901
We appreciate your honesty, Anon.

But the chinks better not fuck us.

is everyone here fucking retarded?

>>2823318
Even if rhetorical that's a retarded question. Of course we are.

FAK

>>2823318
how retarded are you for asking that retarded question, fucking retard?

>the miners control the fate of bitcoin
you guys dont see how this is a problem?

This round has been pretty unlucky so far. unless f2 gets their shit together we will probably have to wait until the next period

>>2823355
yeah, it's a muh centralization issue

people who understand the tech knew this a long time ago

that some faggots with enough $hekels can literally dictate the future of bitcoin

>>2821370

You are such a faggot and you are wrong about all of this

>>2823465
expect the btc price to drop when fags realize this

bought in late last night cus this shit was supposed to moon, i blame you all

>>2823656
woops, actually people are realizing this, price is dropping. See you at 1800

>>2823656
wont happen in the near future unless chinks fuck things up on purpose

>>2823694
I'll see you there, bud. Might go even lower this time.

>>2818234
>>2818341
>>2819712
>>2819863
>>2819961
>>2820003
>>2820030
>>2822176
>>2822849
>>2823335

>>2823355
>>2823465

>what is the byzantine generals problem
>what is why bitcoin is revolutionary

How can a technology be around for 10 years and you faggots STILL don't get it?

>>2823318
we are all on some level retarded, retard
fucking retard

>>2823318
i-i-i-'m ju-u-u-st pretending to be retarded

>>2823734
You can't expect 4chan fags to understand this level of bitcoin technicalities. They can't even do the buy low / sell high thing right.

>>2823719
>t. missed the dip

This whole thread is why we need IOTA. Fuck miners, we don't them. Have each transaction validate others.
>ZERO FEES
>INFINITE SCALING
>NO GREEDY CHONGS
>DESIGNED BY AUTISTIC MATHEMATICIAN
It's time we start shilling IOTA

>>2823791
not blockchain, take your bags and fuck off

>>2823791

It's not even on bittrex you fucking faggot no one cares. Can't wait till it hits the exchange and your shit plummets like every other dogshit ICO in the last 2 months.

>>2823800
>Implying blockchain is better
Have fun with bitcoin perpetually kicking the can down the road

>>2823791
0/ 0/ love btc but also love iota<3

>>2823719
ITT

>>2823832
Ha ha, nice

>>2823832
nice meme anon 8/10

>>2823825
read iota's whitepaper and then go kill yourself stupid bagholder

>>2823832
Btc is fucked either way son. We shouldn't have trusted the subhumans with our money.

>>2823832
kek made an update

>>2823897

it's 79.1% now

>>2823897
you should change to SELLING BITCOIN

>>2823912
or maybe CHAINcoin only

>>2823912
nah, i mean.. he's obviously mad because he's holding his btc address and gets the news that btc is worth nothing

Almost 80% of blocks are signalling BIP91's bit 4, but not BIP141's bit 1 that BIP91 will require. Seems like no one's really running btc1.

So I'm confused. Are we getting a hardfork or segwit? I haven't seen a solid confirmation anywhere.

>>2823950
ur gonna get softly spooned no matter the outcome of this beep-boop bullshit

>>2823933
no, like its not trading on exchanges any more so he the only way to unload those bags is to literally harass people into buying that shit

>>2823967
I'm only holding about 140 LTC and the rest is in USDT. Am I good?

>>2823993
>USDT
rest in piss

>>2824002
USDT is safe, what are you on about?

>>2824012
enjoy not being able to withdraw ur shit from watermeloniex

>>2824018
how bout bittrex?

hahahahahha not going to happen

>77.7%

You guys got tricked.

>>2824295
oh boy, thursday can't come sooner

IMMA LOAD UP LIKE CRAZY

>>2824304

and what if it drags on until august 1st?

>>2824328
it won't ;);) winkwink

help a noob, im holding 1btc. what do?

>>2824343
1. move it to a secure place like trezor
2. move it to a paper wallet
3. sell it for cash
4. sell it for some other "stable" crypto
5. move it to bitfinex / bittrex / an exchange which will list bitcoin unlimited
6. share it with your /biz/ buddies
7. hoddle and hope 4 the best
8. delet wallet, burn seed and an hero

>>2818310

It's not, the alternative (BIP148) means that instead of miners (users vote using their CPU power) you have a bunch of faggot redditors who contribute no economic value to the network deciding the rules of Bitcoin based on what their cult leader tells them to do via twitter campaign.

When non-miners hold the power to decide the future of the network Bitcoin will die.

>>2824425
kek.. idk what's worse - a bunch of plebbitors running BTC via twitter, or a mega-chink mining factory

>>2824343
Just give it to me, I will invest it wisely.
18FxdnX4kri4VqQDaae5F8Wj5N86xWUuMm

>>2818310
because it's a bandaid that requires a hard fork

>>2824482

Redditors are retarded. Chinks are not, they're just soulless ant-people.

>>2824482

>"decentralized" coin run by a centralized asian factory farm pools

is this not a total contradiction?

>>2824529
yeah. i hate that it makes plebbitors look like they have a point

>>2824362
thanks
>>2824496
sent :D!

when will bitcoin get point-of-stake?

>>2824482

It's no fault of the chinks that they represent the majority of miners. They're acting rationally and in their own economic interests, which is exactly how they're supposed to act. There is a case to be made that the Chinese gov't could force them to make changes to the protocol.

However allowing non-economic nodes to dictate rules changes is an even greater danger to Bitcoin. It's a trivial matter to spin up a bogus non-mining node and force it to signal whatever you want, at least to mine as a bad actor there is a massive economic barrier (millions of investment in ASICs) in your way.

>>2824602
>sent :D!
I had faith.

>>2824638
>However allowing non-economic nodes to dictate rules changes is an even greater danger to Bitcoin
non-economic nodes are a meme invented by r/btc. It was always nodes who were supposed to enforce changes to the protocol. The role of miners is to follow rule changes, not to decide them.
That is why nodes can fuck miners shit up. The purpose of uasf is to force miners to comply, exactly by appealing to their rationality, since they know if uasf is successful their shit will be fucked.
>at least to mine as a bad actor there is a massive economic barrier (millions of investment in ASICs) in your way.
if you can convince existing miners to be bad actors, there is no economic barrier at all.
Jihan has his hands on a lot of companies and other pools that are run in the background by him. He literally is the bad actor.

>>2824617
>point-of-stake

>>2824638
Could chinks be playing fair so far because not enough Americans own BTC? I can definitely see BTC used as political leverage against the US one every 2nd or 3rd normie owns a sizeable amount.

>yu sign-ah da deal now, or we crash bitcoin

also, won't miners eventually become redundant once the difficulty renders mining unsustainable?

>>2824617
>point-of-stake

>>2824699
>also, won't miners eventually become redundant once the difficulty renders mining unsustainable?

lmao, you know mining has another purpose aside from just getting more BTC right? How exactly do you think the transactions work?

77%

how many splits of bitcoin will there be now?

yes bleed non-USDT holder bleeeeeeeeeeeeeed

>>2825180
76.3%*

>>2825369
>>2825180
Blocks matter more idiots.

>>2825670

hahahaha

and now faggots are buying it

how can you treat your wealth like that?

good job funding chinks gov kek

>>2823993
Looks like somebody took my advice :).

It's still not too late to switch to ltc and avoid the hard fork.

Buy ltc :D

>>2819351
>funds are stolen because magic

If you think your money is safe you're retarded

>>2824638
This. If we weren't stupid faggots we'd have massive ASIC factories in the states too but I bet the government would shut us down

>>2818234
LTC

>>2818234
Eh?

Buy cheaper BTC now. After this Segwit thing blows over and everything is fine the price is going to rocket. Remeber buy low sell high. Always hodl until at least some profit can be had.

>>2818234
can someone give me a quick rundown on this?

>>2826474
BUY BUY BUY
SELL SELL SELL
DEAD CAT BOUNCE
FALLING KNIFE
BEAR MARKET
BULL RUSH
MEME TRIANGLES