4 ms·

That was quite a stair step up around 8pm PDT. Anyone know what happened? http://imgur.com/a/W6m6n http://imgur.com/a/W6m6n

gcb0 9y ago
no. the price to dollar is mostly controlled by the exchanges supply and demand, which are mostly opaque. if I were to bet: price collusion to dump it before every miner jumps into the new chain exclusively.
- DaiPlusPlus 9y ago
  But where's the evidence of miners switching? The block-mining-reward for BCH is very low - and from what it looks consumers looking to use BitCoin for retail transactions will have a hard time with BCH because very few, if any, retailers support BCH compared to BTC.
  - gcb0 9y ago
    again. I don't know. you don't known. the real btc/bth to dollar offer and supply is not transparent. miner can move either way in any second. I don't follow all of the public groups. and there are mostly private big miners now anyway. you might be right on the reason. only the exchange knows. the trick is that the dollar to btc is a known value for them only.
  - rlpb 9y ago
    > But where's the evidence of miners switching? Why does this matter? If you're concerned about double spend, just wait for more confirmations and treat it as a slower to resolve chain. In any case, double spend problems could only happen if miners _did_ switch, so then you wouldn't need to be worried about miners not switching.
mirimir 9y ago
Two possibilities come to mind. One, perhaps potential buyers were nervous about the BCH fork. And after BTC price didn't crash, they jumped in. Two, perhaps some large BTC holders are buying more BTC with their windfall BCH. I mean, what else would they do with it?
xiphias 9y ago
In the last week there was a fear of the Bitcoin Cash fork splitting the community. The fork failed so spectacularly that the biggest problem for Bitcoin / Bitcoin Cash holders was how to dump Bitcoin Cash when all reputable exchanges are afraid of implementing Bitcoin Cash. Now it's clear for most people that Bitcoin Cash failed. Also Segregated Witness will lock in on Aug. 8 with a very high probability, and activate at the end of August.
- chii 9y ago
  is there a nice summary of what happened with the fork anywhere? I want to read a neutral, unbiased summary, as i haven't really been keeping up with the bitcoin community for a while now (and i don't want to read the drama/politics, just what happened).
  - oskarth 9y ago
    There's no summary that I am aware of, but a nice trick is to go to https://www.reddit.com/r/Bitcoin/ https://www.reddit.com/r/Bitcoin/ (against fork) and https://www.reddit.com/r/btc/ https://www.reddit.com/r/btc/ (pro fork), sort by most popular last week and read what they have to say in the stickies/FAQ. They are both biased, but if you read both accounts you can form your own opinion. This is a good heuristic in general. Everyone has an agenda and it is very hard to find an unbiased source of anything, especially for contemporary news. It is often better to find sources where the bias is clear, as opposed to hidden. Then find the strongest contradictory argument and compare the two. UPDATE: Parent asked for a summary, not a technical deep dive. Here it is from "/r/btc" (pro fork) POV: https://i.imgur.com/uJ9XE06.png https://i.imgur.com/uJ9XE06.png and from "/r/bitcoin" (against fork) POV: https://www.reddit.com/r/Bitcoin/comments/6r05nm/megathread_on_august_1_2017_at_612pm_utc_block/ https://www.reddit.com/r/Bitcoin/comments/6r05nm/megathread_... Follow the mentioned links if you are interested to get into more details.
    - xorcist 9y ago
      The S/N ratio of Reddit is slightly above 4chan, I find it mostly an exercise in image macros and copy paste. No development takes palce there. If you are interested in the protocol and the software, I would recommend lurking the IRC channels and/or mailing list. There is drama there too, but it takes the form of rational arguments and walls of text.

gcb0 9y ago

no. the price to dollar is mostly controlled by the exchanges supply and demand, which are mostly opaque. if I were to bet: price collusion to dump it before every miner jumps into the new chain exclusively.

DaiPlusPlus 9y ago
But where's the evidence of miners switching? The block-mining-reward for BCH is very low - and from what it looks consumers looking to use BitCoin for retail transactions will have a hard time with BCH because very few, if any, retailers support BCH compared to BTC.
- gcb0 9y ago
  again. I don't know. you don't known. the real btc/bth to dollar offer and supply is not transparent. miner can move either way in any second. I don't follow all of the public groups. and there are mostly private big miners now anyway. you might be right on the reason. only the exchange knows. the trick is that the dollar to btc is a known value for them only.
- rlpb 9y ago
  > But where's the evidence of miners switching? Why does this matter? If you're concerned about double spend, just wait for more confirmations and treat it as a slower to resolve chain. In any case, double spend problems could only happen if miners _did_ switch, so then you wouldn't need to be worried about miners not switching.

mirimir 9y ago

Two possibilities come to mind. One, perhaps potential buyers were nervous about the BCH fork. And after BTC price didn't crash, they jumped in. Two, perhaps some large BTC holders are buying more BTC with their windfall BCH. I mean, what else would they do with it?

xiphias 9y ago

In the last week there was a fear of the Bitcoin Cash fork splitting the community. The fork failed so spectacularly that the biggest problem for Bitcoin / Bitcoin Cash holders was how to dump Bitcoin Cash when all reputable exchanges are afraid of implementing Bitcoin Cash. Now it's clear for most people that Bitcoin Cash failed. Also Segregated Witness will lock in on Aug. 8 with a very high probability, and activate at the end of August.

chii 9y ago
is there a nice summary of what happened with the fork anywhere? I want to read a neutral, unbiased summary, as i haven't really been keeping up with the bitcoin community for a while now (and i don't want to read the drama/politics, just what happened).
- oskarth 9y ago
  There's no summary that I am aware of, but a nice trick is to go to https://www.reddit.com/r/Bitcoin/ https://www.reddit.com/r/Bitcoin/ (against fork) and https://www.reddit.com/r/btc/ https://www.reddit.com/r/btc/ (pro fork), sort by most popular last week and read what they have to say in the stickies/FAQ. They are both biased, but if you read both accounts you can form your own opinion. This is a good heuristic in general. Everyone has an agenda and it is very hard to find an unbiased source of anything, especially for contemporary news. It is often better to find sources where the bias is clear, as opposed to hidden. Then find the strongest contradictory argument and compare the two. UPDATE: Parent asked for a summary, not a technical deep dive. Here it is from "/r/btc" (pro fork) POV: https://i.imgur.com/uJ9XE06.png https://i.imgur.com/uJ9XE06.png and from "/r/bitcoin" (against fork) POV: https://www.reddit.com/r/Bitcoin/comments/6r05nm/megathread_on_august_1_2017_at_612pm_utc_block/ https://www.reddit.com/r/Bitcoin/comments/6r05nm/megathread_... Follow the mentioned links if you are interested to get into more details.
  - xorcist 9y ago
    The S/N ratio of Reddit is slightly above 4chan, I find it mostly an exercise in image macros and copy paste. No development takes palce there. If you are interested in the protocol and the software, I would recommend lurking the IRC channels and/or mailing list. There is drama there too, but it takes the form of rational arguments and walls of text.