The Bitcoin Group #133 – Bitcoin Fork? – Altcoin Madness – VC ICO – Bitcoin Users Doubles

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Featuring…

Tone Vays ( )
Gabriel D Vine ( )
Jeffrey Jones ( )
Theo Goodman ( )
and Thomas Hunt ( )

THIS WEEK:
—————————-

Bitcoin Exchanges Unveil Emergency Hard Fork Contingency Plan

Nearly $2 billion has been wiped off bitcoin’s value in three days all because of a fork

Buterin Defends Hard Forks, Adding Heat to Bitcoin Scaling Debate

Coin Market Cap

The Initial Coin Offering, the Bitcoin-y Stock That’s Not Stock—But Definitely a Big Deal

Bitcoin User Base Doubling Every 12 Months: Google Trends

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32 thoughts on “The Bitcoin Group #133 – Bitcoin Fork? – Altcoin Madness – VC ICO – Bitcoin Users Doubles

  1. Thanks much to chat and those who contributed live. The show wouldn’t be what it is without our live viewers providing us with their attention and reactions.

  2. Their mindset on alt coins crashing & being scams is wrong…. Why would a HUGE company like Microsoft put their reputation on the line to partner up with Syscoin(SYS) which is an alt coin???….C’mon guys, stop being so biased on alts.

    1. To hedge, to take a bet on experiments, they have money to burn. As I explained, it doesnt matter. It doesnt matter if there is a partnership with microsoft, it can go 100x with or without that.

    2. Norm Bolduc they’re not saying they’re scams theyre saying theyre being pumped full because of reactions in the bitcoin market. I think as soon as bitcoin settles these coins are going to drop back .

  3. By definition of “fork”, anything you have now in a cold wallet or not in central exchanges will be able to be sold – after a fork – for BTC or BTU, so theoretically you can sit on the wallet for many years until the weaker fork obviously underperforms. So there seems to be no worry. I am buying on the dips. BTC will still follow its course and halve the rewards in 2020 so I can wait and see.

  4. I dont understand Tones continuous attacks on Roger. He is free to do what he wants. Saying Axa is an insurance company therefor its ok, is nonsensical. Werent insurance companies at the heart of the criminal hypothecation scandal of derivatives. Also if you cant hold funds in bitcoin wtf are they doing in this space.
    Final note, this panel is seriosly unbalanced in favour of Core with such a huge split in the community you need a BU voice.

    1. Good points! You convinced me. I’m currently stuck in an old South African (ZAR) account – and would be willing to pay more than the going transaction rate to avoid all the crazy KYC/FICA nonsense. It’s amazingly hard to transfer funds between some countries – or even within a country! – if you are not a citizen.
      But still, the rising transaction cost in Bitcoin is bad for adoption, even if the miners like it… – and TW is a good competitor.

    2. SegWit will allow Lightning Networks which enables a one time fee to open a payment channel, which will allow any amount to be transferred until closed. This means that you can open a channel with a remittance service or individual and send/receive all the btc transactions you want without paying more. The increased capacity will drive down miner fees. It’s recently come to light that miners are opposing SegWit due to fears of losing part of their mining revenue, while at the same time promoting the false idea that BU somehow equates to lower fees.

    3. Degenbet Don’t be a prat. If BU is adopted the miners aren’t going to set the blocksize so low that it takes 24 hours to confirm a transaction because users will desert Bitcoin for other payment channels – as you can see they have been doing if you take the trouble to see from Johoe’s mempool statistics that the unconfirmed transaction count has dropped sharply of late.
      If the purpose of your channel is to spread disinformation then people will stop watching you and your reputation will go to zero.

    4. Richard dont b a Prat. A larger blocksize limit does not mean larger blocks and does not guarantee faster confirmation times. In fact the current blocksize limit is often not used even with the mempool at a large size. I simply asked where in the BU github or articles of confederation this 24 hour rule is addressed if at all. Please point to the so called “disinformation” here. You can continue to try to spread speculation about mempool stats but if you have evidence of bitcoin users using altchains then please share this evidence with us.

    5. Prat? Is that like a BIP? Jokes aside, I can see how larger blocks helps scaling (fine), but I also see how it helps big mining (big problem). Big mining may well be artificially causing the current congestion, with its attendant higher fees. Let’s have some short-term, medium term, and long-term solutions (Short term: force SegWit? Medium term: ? Long term: mining decentralization!!!?)

    1. Brad what an obnoxious person you are. You are just so ignorant. You know nothing about the competence of the person you are abusing and you presume to lay down the law about what he may or may not do. In my opinion you are a loudmouthed patronising twat.

    2. Seriously. It is no surprise that miners want to increase the blocksize, when they have a blockreward that gets cut in half every so often, and tx fees are supposed to replace that. Every sane businessman would produce more (blockspace) of his product instead of raising prices infinite. Bigger blocks make it harder to run nodes, but at the same time small blocks cause high fees for onchain transactions, there needs to be a balance imho. Segwit alone is not the answer to this problem. This could have been easily solved earlier (in 2012 or so) by making increases automatic (like if halvening; then blocksize * 1.5. with this we would be at 3MB right now, would be sooo much better).

      Makes me really sad that people are so deluded that they think this is some kind of attack. Please use your brain, much of bitcoins value is because it is the most secure coin (backed by over 3 Exahash mining power).

      Edit: And why they are not activating segwit, it seems there is something in there (or the lack of a blocksize increase, so they feel “locked in”) that goes against the miners economic incentives, this is no charity, they want to earn money. It also seems not to activate on litecoin for some reason, wouldn’t they jump on this and activate to have a nice “rise chikun” pump if it was so great in the current form? 🙂

  5. BTC price has dropped as scaling debate leads to talk of a hard fork. That money has now moved to alts which also funnily enough have no scaling solution in place because of no usage…go figure.

  6. Unsubscribing! I like the content but don’t want to continue hearing all the Roger bashing. You may not like his ideas, and that’s fine, but he’s done more for Bitcoin than all of you combined.

  7. Great to watch through the discourse here on the hardfork. I don’t pay attention to the news so much as the price charts – and they are showing massive money pouring out of bitcoin into the cryptos. Bitcoin is the ‘Gateway’ – and it’s been a hard path to get people aboard. But once they are with bitcoin, the world of crypto coins is just so easy to enter…

  8. Thank’s, guys! Keep the great job!

    35:44 – the thing is that the price of BTC+BU after HF(HardFork) = price of BTC before HF

    My point of view is people should NOT support pools that support BU not because of price ofcourse, but bcause this heretics try to break our hope in bitcoin and I don’t believe that bitcoiners are that dumb to let this happen(at least I hope so). My believe that bitcoin is stronger than ever and in the end all this speculants will burn in hell!

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