How many gold transactions are possible each day?
Gold is protected from competition by its atomic structure. Bitcoin is open source code, it competes by being the best. |
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Follow the weekly Bitstamp chart. If it closes green for 6 times in a row, we are on bubble territory (currently 4 consecutive weekly greens). If we instead end this week in red, there is nothing to worry.
IF we get 6 greens, this means we can go on for a long time still but watch for a blowoff top and trade accordingly.
The methodology worked perfect in the latest 500 spike, and you can easily check a very good match with all previous bubbles as well.
First TERA and now Risto- we're getting the band back together! no better indicator of a bull market than old-timers becoming active again  Hold on there, Pardner. Don't confuse cause and effect. All that means is the price is higher. The bull market isn't really back until the ATH is topped. That won't happen without a scaling fix because long before we get to four digits, we'll slam into the 1MB blocksize limit. When the blocks are totally full, the fees could go up 100X what they are now because there is only enough capacity for ~600,000 transactions per day. That's it, no matter how high the fees go, there won't be enough capacity for each of us to have even one xation/day each. NO MATTER HOW HIGH THE FEES GO. You don't wait until the snow starts falling before you start chopping firewood. It's coming. Assuming inelastic demand for bitcoin transactions is wrong. If fees go high enough, there will be plenty of room in 1 MB blocks. There will also probably be plenty of cheap coins in this situation. Realistically, the network's actual capacity in current form is more like 2.7 tps. |
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The dev mailing list and the chart right now, like cookies and milk.
Any change that is "controversial" can not happen, so... (the totally uncontroversial) 1MB4EVA it is!
This morning at twitter there are some whales saying this would happen, so I don't think is about the news, unless the take profit before the news happens. I'm not trying to imply causal relationship, or that any major change happened in Wladimir or Pieter's (2015) positions today. Just that... from where I'm sitting as a long term investor, these things go well together. The dumps are probably just because volume was completely dead and we needed to go to a lower level to move some coins. |
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The dev mailing list and the chart right now, like cookies and milk.
Any change that is "controversial" can not happen, so... (the totally uncontroversial) 1MB4EVA it is!
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If half the threads here are completely ridiculous, are the other half not as ridiculous?
Yes?  |
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Sorry I can't offer a knee-jerk reaction to this. I need more time and information to produce commentary of value. As with sidechains, I will by default fight this feature. But I will also hope that fight is similarly futile and the new feature will prove worthy of adding value to Bitcoin.  How about the knee jerk reaction that death threats aren't helpful? |
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The USO oil etf is at all time lows while vultures are circling.
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Ever feel like you had to tell a joke twice before someone laughed?
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-snip-
XT/Unlimiturd = Worst Altcoins Ever.
What's your take on when we do the segwitness altcoin? You are confusing soft forks (segwitness) and hard forks (XT/Unlimiturd). I don't think segwit will happen anytime Soon. If/when it's implemented, it will be because of a genuine need as agreed/recognized by the socioeconomic majority, not because of a whining Gavinista minority of Redditurd bury brigades. So you disagree with hdbuck and MP. How about when we fork to a modest 2MiB while segwit is tested? Altcoin? |
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-snip-
XT/Unlimiturd = Worst Altcoins Ever.
What's your take on when we do the segwitness altcoin? |
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That monday morning feeling when you open the rear door of your crowd-economied Alphabet Sprout... nearly tossing your briefcase on the glistening upholstery stain...  |
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I guess a concern (for someone who was prone to be concerned about such things) could be that we become of victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.
Yep and that's what all the fuss is about lol I don't think short term its a big issue resulting in that... but will have to be reckoned with one day soon. In deep Bitcoin time then, a scenerio where fees replace block rewards is inevitable. Is that right? How much money did you invest before figuring this out? Don't answer that, I am inclined to think you are doing some kind of dialectical exercise...  So wait, what's a Bitcoin again? And are there any use-cases that will become unviable because of a creeping fees market? Shift your question. What alternative's use-cases become viable...? Block reward is the network's manna to consume while eating everyone else's lunch, effectively leveraging its first mover advantage. The free market provides the guard rails and the trajectory. |
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I guess a concern (for someone who was prone to be concerned about such things) could be that we become of victim of too much adoption too quicky (Santa?), transactions get all jammy and we're just as quickly disowned.
Yep and that's what all the fuss is about lol I don't think short term its a big issue resulting in that... but will have to be reckoned with one day soon. In deep Bitcoin time then, a scenerio where fees replace block rewards is inevitable. Is that right? How much money did you invest before figuring this out? Don't answer that, I am inclined to think you are doing some kind of dialectical exercise... |
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hdbuck, always the sharp guy, understands what is being insinuated... did "teh mass" ever had gold in any meaningful way?
hmnope.
 Tell me another one... But at least you understand that BIP101 will increase the risk of centralization. However for SW proposal, I totally don't understand anything at all: By changing the bitcoin architecture, Pieter essentially change it to something else, an alt-coin. So all the talks about SW should go into alt-coin section, not here. And all this large degree of deviation from Satoshi's original design for what? A mere one time increase for capacity of light nodes, not even helping full nodes?
I've been quite surprised by your reaction to this proposal. It's as if you're being intentionally obtuse because clearly you are making no effort at understanding SW and overexagerate its complexity. Whether or not you agree with its motivations and underlying ideology SW is pretty straight forward. straight forward in cutting out the cryptographic signatures out of the blockchain... to allow more spam. thank you but no thank you. forkers should create their own altcoin already.  |
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We in for another exciting friday night?
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So his machines would contribute hash to the pool that solves blocks? And get a cut of the reward based on how much hash he provided?
Right, they delegate those decisions to the pool operator. |
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Fatman, you mine. I wouldn't consider you a threat to decentralization. What size blocks do you figure would keep fees low and keep you running smoothly? If prices are higher, is there more competition for txn's? Or will small mines have a harder time solving blocks?
I doubt he's running a pool and solving blocks. Smaller miners are mostly worker bees communicating with the hive over stratum. |
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They have the incentive but they are not configured accordingly. Not all of them. That's why dust/spam/no-fee and "stress test" txs get processed.
Have you used the network lately? No-fee transactions aren't getting included, and definitely won't be once priority is removed. Dust and spam should not be subjectively determined, fee per kb is all that matters. Miners have a very real incentive to keep their blocks to a reasonable size, it's called orphan risk. I send a zero fee transaction yesterday. It was included in the first block. I never pay a fee if I don't have to and still I'm in favor of rising fees, by limiting supply (of space). Enjoy it while it lasts. At some point there will have to be a fees market because of the halvenings, right? Has anyone crunched the numbers? Are there studies? What will it look like? Everybody agrees that there will be a fee market. Some just want to force it now, before the drop to 12.5 btc per block, which I think is ridiculously early and would be using the wrong (artificial vs market determined) mechanism. In the future, miners will be much more sensitive to their fee pricing, and the fee load will be spread over many more network users. |
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