Gold collapsing. Bitcoin UP.

[awemany]

@lunar: Magma explains it with SPV mining. I think it would be compatible with that.
[doublepost=1485895899,1485894921][/doublepost]

where do you get this 1.6GiB/60s ?

Just by doing "time ./bitcoin-cli gettxoutsetinfo". And the serialized UTXO set is currently ~1.6GiB.

 

[adamstgbit]

@awemany

you think maybe the minning pools starting minning ontop of the block before it was validated...

edit:

The truth is that most pools either spy mine (listen directly on the other pools using Stratum), or do headers only mining (some people call this by the incorrect term "spv mining") that only validates headers before starting mining. Even Core/Segwit supporting pools like BTCC (Samson Mow) and Bitclub Network (run by Core supporter James Hilliard) engage in this practice, simply because the reward is greater than the risk.

right.

 

[awemany]

Yes, exactly. I think that would explain that.

 

[Norway]

Last 24 hours:

SegWit: 18.1%
BU: 25.0%

Just luck, or new trend? Let's not celebrate until we beat'em in the 1000 block interval.

Until then:

 

[Zarathustra]

@Norway

Segwit collapsing - Bitcoin (Unlimited) Up!

 

[freetrader]

Since information coming out of Satoshi's Roundtable's is now largely unverifiable, I would propose a rename for the next one:

Schrödinger's Roundtable

The ultimate unconference, featuring massive amounts of eigenvalues, the event's luminaries / patron saints will not divulge whether you were there or not - this will remain an uncollapsed wave function that can be ridden endlessly by Internet surfers - and though you will get to vote on what should be in the blocks box, the universe will continue not to care and may even decide to play a cruel joke with that information.

 

[albin]

Excellent investigative reporting on /r/btc debunking the gmax/todd claim that Bitcoin has never hardforked:

https://www.reddit.com/r/btc/comments/5rc7an/despite_what_core_supporters_may_claim_bitcoin/

The archived bitcoin.org page is priceless (https://archive.is/IYjm6), literally a hardfork flag day announcement!

 

[adamstgbit]

the future of bitcoin as a settlement layer?

 

[albin]

If you miss Curb Your Enthusiasm and the vicarious feeling of social anxiety and general embarrassment through Larry David, then I could not more highly recommend the latest Bitcoin Knowledge podcast where Trace Mayer attempts to talk to Peter Todd about ZCash and ends up so awkwardly and transparently trying to put words in his mouth, for example with the "Adam Back is Gandalf" nonsense and talking over Todd about the cryptography. Jesus Christ on a cracker! All I gotta say is Obamacare better handle this terminal case of douchechills I contracted before it goes away! Admittedly I give Todd some credit for not really taking any of the bait and keeping it moving.

 

[lunar]

Two bits of news you may have missed

https://www.rt.com/business/375789-iran-dollar-trump-ban/

According to the local news agency PressTV, the Central Bank of Iran is seeking to replace the dollar with a new common foreign currency or use a basket of currencies in all official financial and foreign exchange reports.

The governor Valiollah Seif said it would come into force in the new financial year starting March 21, 2017.

https://cointelegraph.com/news/russia-considers-allowing-use-of-cryptocurrency-in-the-unbanked-region-of-crimea

Russian Internet ombudsman Dmitry Marinichev suggested allowing the use of cryptocurrencies to residents of Crimea. In his opinion, legal entities and individuals registered in Crimea should be allowed to use cryptocurrency wallets and make transactions with digital currencies.

An important precondition for this initiative is the creation of a free economic zone within the peninsula.

“Today Crimea is an exclusive economic zone, which makes it possible to start with the opening of cryptocurrency exchanges operating there absolutely legally. As a result, we will see the actual legalization of cryptocurrencies.”

 

[sickpig]

market fee anyone?

 

[adamstgbit]

just wondering, do BU minning nodes do RBF?

 

[satoshis_sockpuppet]

@adamstgbit
99,9 % sure, that they don't:

https://github.com/BitcoinUnlimited/BitcoinUnlimited/blob/release/src/main.cpp#L1239

 

[Norway]

 

[sickpig]

just wondering, do BU minning nodes do RBF?

no RBF and no CPFP

 

[Norway]

26,4% BU the last 24 hours. I hope we beat SW on the 1000 block interval soon. This is more exiting than the price right now!

 

[awemany]

@Norway:

BU node and block count, obviously Currency wars something something situation in China something something Russia something something Aaron's great SegWit article something something

/s

 

[satoshis_sockpuppet]

Pretty sure, that the next all time high of Bitcoin/USD will be coincident with an all time low of bitcoin core blocks..

 

[albin]

I was vaguely aware of the weird OT-levels theology from South Park around a decade ago, but recently I went on a tear through some of the Scientology exposé material out there recently (the "Going Clear" documentary, Leah Remini on Joe Rogan a few days ago, Louis Theroux's documentary).

Admittedly maybe this is a result of subjective focusing of attention, but the parallels were astounding hearing about the groupthink and thought-control tactics. For a moment there you could believe they were talking about #bitcoin-wizards / Theymos-platforms / Core!

 

[Mengerian]

Mempool backlog up to 40,000 transactions: https://jochen-hoenicke.de/queue/24h.html

11% difficulty bump coming in two days: https://bitcoinwisdom.com/bitcoin/difficulty

Rapid price changes lead to people trying to move coins, filling up mempool. Difficulty bump will cause slower blocks, exacerbating transaction bottleneck.

Difficulty moving coins to/from exchanges introduces friction to markets, creating uncertainty and slowing price gains.

It will be amazing to see what happens if on-chain capacity can be un-hobbled, and price is truly unleashed.