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Segwit2x Bitcoin Fork Suspended

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Re: Segwit2x Bitcoin Fork Suspended

#91

Post by TD-Linux »

gtrubetskoy wrote: post #30
nikcub wrote: post #11

Considering the history of spoofed messages aimed at manipulating the market, they should have cryptographically signed the message That said - if this is true, they've done the difficult but right thing.

It is my understanding that signed messages are generally frowned upon in the Bitcoin community, Satoshi never signed his messages. This is because it is more important what is in the message than who wrote it.

This is effectively the announcement of discontinuation of software, and anything relating to that is usually signed. For example, Bitcoin Core release notes are signed when sent out via email, the binaries are reproducibly built and signed many times, and most git commits are signed by their author (and all merge commits are): https://github.com/bitcoin/bitcoin/commits/master

Re: Segwit2x Bitcoin Fork Suspended

#92

Post by bdcravens »

ashark wrote: post #28
temp987654 wrote: post #23

So... this should probably mean a deep dive for btc price then, right?

I checked coinbase expected exactly that, thinking "oh man, I'm glad I didn't sell my eth a month ago to buy into bc trying to capture free altcoins like others did and like I considered doing, it'll be down like 10% at least" but it... shot up about 10% instead. I don't get it.

Wouldn't you expect alts to do well in this situation, since it's essentially the yang to the yin of moving from alts into Bitcoin in fork anticipation?

Re: Segwit2x Bitcoin Fork Suspended

#93

Post by Kiro »

byset wrote: post #56
bpicolo wrote: post #14

So bitcoin went up because they were going to fork, and now it's going up again because they will not? k Edit: Otoh, looks like it's seeing a bit of a drop now, but I doubt it will hit the pre-anticipation levels.

I guess people say all kinds of things, but I don't recall anyone arguing that Bitcoin was going up because of the impending fork. It certainly wasn't the conventional wisdom.

> It certainly wasn't the conventional wisdom.

It was for sure. Where do you get your Bitcoin news?

Re: Segwit2x Bitcoin Fork Suspended

#94

Post by matthewbauer »

hudon wrote: post #73

"6 people called off the fork. Think about that." [0] A censorship resistant digital cash is being built, and it only took 6 small time CEOs to completely throw everyone off and almost derail the project. When someone like CME Group, who now has skin in the game, also starts pulling their weight, who knows if the bitcoin experiment will survive? [0] https://twitter.com/arronschaar/status/928316853092433920

But the main reason they called it off was that it was extremely unlikely to succeed in being a bitcoin successor.

Re: Segwit2x Bitcoin Fork Suspended

#96

Post by [deleted] »

pwaai wrote: post #51
bpicolo wrote: post #14

So bitcoin went up because they were going to fork, and now it's going up again because they will not? k Edit: Otoh, looks like it's seeing a bit of a drop now, but I doubt it will hit the pre-anticipation levels.

Market fundamentals seem non existant here. At least a few years ago, when there were bad news the prices would reflect that. Now, it seems to go up anytime bitcoin is mentioned at all, regardless whether the market understands the implications or not.

[deleted]

Re: Segwit2x Bitcoin Fork Suspended

#97

Post by zanny »

pwaai wrote: post #51
bpicolo wrote: post #14

So bitcoin went up because they were going to fork, and now it's going up again because they will not? k Edit: Otoh, looks like it's seeing a bit of a drop now, but I doubt it will hit the pre-anticipation levels.

Market fundamentals seem non existant here. At least a few years ago, when there were bad news the prices would reflect that. Now, it seems to go up anytime bitcoin is mentioned at all, regardless whether the market understands the implications or not.

This is why I got out of bitcoin trading. It used to correlate to the general attitude about it. Now the coins and miners are so centralized the real driving force of bitcoins price is the thousand wallets holding 95% of all BTC. Its like trying to predict market movements for a stock where 95% of the shares in a company are owned by one person. It isn't up to anyone else but that person where the price trends, because the behavior of the 5% crumbs mean nothing against the behavior of that one holder.

The price will simply go up when the whales want it to, and go down when said whales want to cash out. Fees could go up or down, China could do X or Y, the Fed could regulate it or not, and the general opinions of the ecosystem don't matter whatsoever - price is fairly solely dictated by the whims of a few dozen elites nowadays.

Re: Segwit2x Bitcoin Fork Suspended

#98

Post by justzisguyuknow »

zanny wrote: post #97
pwaai wrote: post #51

Earlier quoted context omitted.

Market fundamentals seem non existant here. At least a few years ago, when there were bad news the prices would reflect that. Now, it seems to go up anytime bitcoin is mentioned at all, regardless whether the market understands the implications or not.

This is why I got out of bitcoin trading. It used to correlate to the general attitude about it. Now the coins and miners are so centralized the real driving force of bitcoins price is the thousand wallets holding 95% of all BTC. Its like trying to predict market movements for a stock where 95% of the shares in a company are owned by one person. It isn't up to anyone else but that person where the price trends, becau…

It seems like yes the day-to-day fluctuations may be at the whim of the large wallets, but how can they actually be in control of the price over longer periods?

Or if they can, then given that it's in their interest for the price to keep rising long-term, why not hold and go along for the ride?

Re: Segwit2x Bitcoin Fork Suspended

#99

Post by lawn »

hudon wrote: post #73

"6 people called off the fork. Think about that." [0] A censorship resistant digital cash is being built, and it only took 6 small time CEOs to completely throw everyone off and almost derail the project. When someone like CME Group, who now has skin in the game, also starts pulling their weight, who knows if the bitcoin experiment will survive? [0] https://twitter.com/arronschaar/status/928316853092433920

Contrast it to how many people it takes to block any on chain scaling. As everyone practically runs Core the power in practice lies with their maintainers.

Bitcoin as it is now is crippled. There is no reason to block on chain scaling except for the Core maintainers to retain their power and allow their second layer solutions to viable.

Re: Segwit2x Bitcoin Fork Suspended

#100

Post by 659087 »

askmike wrote: post #38
stonogo wrote: post #20

Earlier quoted context omitted.

Bitcoin fundamentally attracts people who assume existing markets are run in bad faith. It's why there's so much propaganda attacking "fiat currency," and presenting Bitcoin as some kind of ethical imperative.

Most bitcoin people I've met are very much in favor of everything free market, it's the goverments / central banks they don't trust.

Bitcoin markets are a simulation of what would happen if you replaced the small group of people controlling governments and central banks with a small group of internet trolls, who held 95%+ of all available currency between them.
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