Most wallets overestimate fees I always set a custom fee BTC is now processing 10sat/B transactions yet some wallets are still recommending 300+ Unfortunately, the miners on the BTC chain have had a little bad luck at the moment, (No blocks for 40 minutes) so one is going to need about 250 sats per byte to try and get into the next found block. |
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this is horrible
this is going to turn us all into merit whores
You are in a tough position. Now you have to earn almost 500 more merit points to be legendary. |
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I gather this merit system was devised to make account farming much more difficult. Now farmers will have to work on post quality to rank up their accounts beyond Jr Member. Hopefully none of the people that are merit sources are also account farmers.
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Sheeit.
Things are not looking very good right now, folks.
Bitcorn is moving in the wrong direction. Looks like we might be testing 4 digits again at this rate.
Well, I set a bunch of bids starting at $10750 all the way down to $8750 in $250 increments. Looks like one of my bids was filled already. I'd prefer BTC was going the other direction though. Oh well, when life gives you lemons, make lemonade. |
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 0.44 cent BTC transactions 1 hour confirmation, looks like BTC is back to being usable Unfortunately, about 15MB worth of transactions were sent a few hours ago at the 200-250 sats/byte range on the BTC chain. It is now down to 9MB on that range. You will need to wait a whole lot longer than an hour if you want your 44 cent transaction to go through at this point. I can't really call this "spam" since 200-250 sats per byte is a decent fee. https://dedi.jochen-hoenicke.de/queue/more/#24h |
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Just learned that you can cash out from Conbase at 2.5% using paypal
Why? Cashing out of GDAX is freekin' _free_. I use it from time to time since I can then transfer the funds from Paypal to my bank, instantly, for .25 cents and it shows up as being from Paypal rather than Coinbase at the bank. My funds are usually available within minutes rather than a business day or two. I'm not sure what my bank's policy is regarding Bitcoin transactions, they haven't given me any trouble, so far. However, I don't want to push the envelope too far. |
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Ugh, I just did my taxes on TurboTax and can't bring myself to hit the send button.  This sucks. Should I just suck it up, sell 0.2BTC and transfer to my bank and be done with it? I despise giving the US government any more money. Payment isn't due for several months yet. Might be 0.1 BTC or less at that point. #justsayin Or it could be .3 BTC or .5 BTC. I am not going to speculate when it comes to giving Uncle Sam their pound of flesh. I am very small fry, as you can tell about me bitching over a somewhat trivial amount. It sounds like a useful service. But at what price? What might they be doing with the data other than crunching it for your benefit? Don't forget the universal maxim - if a service is free, then you're not the customer, you're the product. If you have over 100 transactions, they charge 30.00. I paid the fee since I had well over 100 transactions and it is a lot easier than me trying to manipulate csv files myself to convert to something I can port over to a tax software program. I'm certainly not going to write by hand all the transactions on a schedule D form. They may be using my information for other purposes, but that's the price to pay for the convenience. |
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Some of the arguments really fall flat on this. First of all, Bitcoin is supposed to be open source and therefore, permissionless. How can you "steal" something that is supposed to be open for all to do basically as they please? Furthermore, the only trademark that I am aware of on the Bitcoin name or logo is held by Mark Karpelès. Now we are not really honoring that, now are we? I will continue to call Bitcoin Cash, Bitcoin Cash or BCH rather than Bcash. Calling it Bcash is just a childish way of trying to insult the BCH supporters.  |
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where to fish this bottom?
I have tiny bids starting at 11K all the way down to 9K. We will see if any of them hit. |
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You are all wasting your time. It is only possible to build usury schemes that centralize transaction validators through economy of scale, and those then turn into federated chains/permissioned ledgers by default.
Is that right? So let's say all of us idiots bought into your bullshit, but invested in Bitcoin anyway. And we road the wave all the way up to full federated ledger status. We then sell all our bitcoin at $1M/btc and buy up 10,000X more physical silver than you'll ever own in your lifetime. Thus we outsmart you again. Checkmate fool. If you know bitcoin is bullshit and it's not even possible to create a decentralized digital currency, yet you lie to people to try and get pump and dump profits off old retarded people playing the greater fool, there is no moral difference than just flat out robbing an armored car. It is just white collar criminal vs blue collar criminal, so you might as well just start hacking bank sites or whatever to steal the money if you're going to be a white collar criminal, or go be a blue collar criminal and attack the Brink's truck. You are playing the coward's way, be a criminal while pretending not to be one. Or what virtually every single Jew in finance on the planet does. Can you please explain why you are blogging on Steemit then? Are you ignoring all of your proceeds, or are you being a hypocrite? According to your activity, you are sending your proceeds to Poloniex quite regularly. https://steemit.com/@r0achtheunsavory/transfers |
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While you are looking for LN to solve BTC problems, BCH is already has solved it.
The goal is to scale on the level of Visa or Paypal. BCH has not solved this yet. The BCH teams are still working on optimizing the way the software handles the mempool and verification process. Once complete and adequately tested (I should hope), BCH will implement a hardfork and get rid of the cap on block size altogether. |
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The exchanges do not do very good (if any) reports at all and I've used various paid tools/sites to import the data and they were all completely wrong with errors. They cant keep up with margin vs exchange wallet, altcoins, deposits/withdrawals, etc.
I used https://bitcoin.tax/ and did the best that I could. Is it perfect? Nope. At least I tried. |
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It seems that tekmobile is capable of piloting a space shuttle and landing on Mars (lightning), but does not know how to start the car and get it out of the garage (bch).
no one will wish to spend money on fees when they do not need to, even 5 dollars. However the unbanked would pay the 5 extra dollars. even 50 just to send 50 because they are unbanked and have no friend in the world. Good thing tek is not able to choke them from real bitcoin. If you're buying a ferrari you won't be concerned about having to pay a $5 fee Just because someone can afford an expensive car is not a reason to saddle them with high fees on a currency! You really think BCH miners/pools are going to be interested in processing your 2 bit fee transaction in 2024 when the reward is going to be 3.125 BCH per block?  Especially if BCH takes off and gains mass adoption? You realize that it will cost a pretty penny to set up and maintain servers capable of processing 1 GB or more blocks. A miner can choose to include or not include any transaction based on whatever criteria they see fit. I suppose you could set up protocols to try and force miners to include all transactions. That would be really tricky if not impossible to implement, though. |
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I suppose that I could redo the Schedule d and do LIFO instead of FIFO, and save. However, from what I have read so far from surfing the net is that LIFO is not recommended. Should I stick with the FIFO?
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WTF IS THIS REALLY GREGS TWITTER? Greg Maxwell @nullc_ Follow Follow @nullc_ More The Bitcoin Cash price is skyrocketing. You can thank me later. Get in now before it goes to the moon. Only the best work on Bitcoin — Bitcoin Cash is Bitcoin. I’m here now. Let’s science! + Greg Maxwell @nullc_ Follow Follow @nullc_ More I’m getting thousands of Q’s why I left Blockstream. The real reason which I couldn’t say while at Blockstream but I can say now is that I fully support Bitcoin Cash — Bitcoin Cash is Bitcoin — I could no longer work with Adam on non-bitcoin applications anymore (LN, sidechains). 9:27 am - 19 Jan 2018 I don't think it is the real Greg Maxwell that recently "left" Blockstream. There is no way that Greg Maxwell would tweet pro Bitcoin cash stuff back in November. |
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Ugh, I just did my taxes on TurboTax and can't bring myself to hit the send button. This sucks. Should I just suck it up, sell 0.2BTC and transfer to my bank and be done with it? I despise giving the US government any more money. Why? Did TurboTax peek into your wallet file? I input the data into Turbotax to see the damage if I decide to be on the up and up. Also, I have used Coinbase to transfer funds directly to my bank. The only reason that I am considering reporting my capital gains, is the IRS is relentless. I could try to be sly about this whole thing, but if the IRS catches a whiff of this without me even trying to report something, I'm sure they will bend me over with no lube. I'm sure they will find ways to turn the 2 grand to a whole lot more. I really don't want them to garnish, levy and attach the shirt off my back. Furthermore, they could pursue me criminally as well. It may be a pittance, but you never know when the US federal government wants to pick you to be made an example of. |
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Ugh, I just did my taxes on TurboTax and can't bring myself to hit the send button. This sucks. Should I just suck it up, sell 0.2BTC and transfer to my bank and be done with it? I despise giving the US government any more money. |
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Hmm. So it cost you either 1/3 or 2/3 of the value you had in the channel in order to close it. Let's presume 1/3 to be generous. We can therefor assume it likely cost another 1/3 to open it. So you spent 2/3 of your nut just opening and closing your channel. Gee - sounds great. Sign me up. Um, your math is wrong... fee=0.00026113 principal=0.00973887 0.00026113/0.00973887=0.02681317237 0.02681317237*100=2.681317237% that is not 1/3 |
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I REALLY wish these guys would integrate the ST31H and pot the goddamn thing
I would be a customer instantly if they did these things
Better idea. Why don't you create a product that does as you propose and I'll become your customer? |
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Is that why the ideal fast confirmations fee bitcoinfees.earn.com recommends has dropped by 70 satoshis/byte? Yes, most definitely. Is there any particular reason the bottleneck in the 100-120 bytes per sat range has cleared up? Bitcoinfees.earn.com has dropped its recommended fee further down to 390 satoshis/byte since my last post. Given that 140 sats is consistently clearing, 390 sats is grossly overpaying. You really need to judge your own fees. Just pick a level that is currently consistently clearing. I would be very comfortable with getting into the next block with 195 sats right now. Yes, I typically use this web page to pick my own fee. https://dedi.jochen-hoenicke.de/queue/more/#24h Only risk is if suddenly there is a massive influx of transactions, or the network experiences some bad luck. You never know when someone may decide to "stress test" the Bitcoin Mempool. |
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