everyone in the past has always said they will increase the limit if it becomes a problem, News Flash it's a huge problem today and Core's bickering has stalled every attempt to increase the limit, Shame on you.
https://bitcoinfees.21.co/Which fee should I use?
The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).
...Even high priority / 1 block transactions are at near zero cost. How is that a problem? |
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https://bitcoinfees.21.co/Which fee should I use? The fastest and cheapest transaction fee is currently 50 satoshis/byte, shown in green at the top. For the median transaction size of 226 bytes, this results in a fee of 11,300 satoshis (0.04$).
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The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 13,560 satoshis (0.05$).[/i]
5 pennies is a lot for roger because he wants to resurrect Feed ze birds which is only possible with "free" or extremely cheap tx fees. Thus he has 2 choices , encourage the community to subsidize his project regardless of the externalities and consequences or contribute towards payment channels or the LN. He has chosen the first option for some odd reason . Technical incompetence and /or impatience? Instead of ranting about how bandwidth, storage and CPU hashing power is going to be amazing in 10 years he would be better off focusing on assisting us get there one way or another rather than making assumptions. The Classic camp could even pretend to be working on scaling, by just ...outsourcing the work done for it. Things like: Bounty 1) "We are paying a XX BTC bounty if you come up with a 50-100% improvement in signature verification in archX a XX BTC bounty if you come up with a 200%+ improvement in signature verification in archX" Bounty 2) "We are paying ...a XX BTC bounty if you come up with seamlessly integrating GPU resources into signature verification in the bitcoin-qt client, for (opencl, cuda)" Bounty 3) "We are paying ...a XX BTC bounty for code that syncs or scales better in the X or Z subsystem. ...and so on. Bounties can go a long way to get things done even when there is lack of coding talent in one's side (as is the case). Instead they are wasting money on useless sybil nodes. |
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I was told by the 'Gavinista' that Bitcoin is practically dead. Why is the price going up  I'm pretty certain that a certain 'group' of people at a certain subreddit don't even care, as they continue with ad hominem and ETH promotion. Things would be much simpler if the remaining 'opposers' just accepted Segwit at the moment. You can then focus on a HF afterwards. What Antpool is trying to do now does not help the situation at all. The network was practically at a point where consensus has been met. With KNC gone, Classic is completely done. It's nice that Bitcoin now has its own supervillains. External enemies like Alistair Darling provide only limited drama, while our homegrown baddie coalition of Hearn/Gavin/Armstrong/Ver entertain us on a daily basis. EG, https://twitter.com/rogerkver/status/736274071113977856Epic clownage ensues. Can't wait until Samson piles on! So much "congestion"  https://bitcoinfees.21.co/Which fee should I use?
The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 13,560 satoshis (0.05$). |
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http://moneymorning.com/2016/05/25/this-bitcoin-price-prediction-sees-a-2016-rise-to-1000/A Bitcoin price prediction of $1,000 by the end of 2016 might seem over the top — except that the person making it is two-for-two in his previous predictions. I'm talking about Vinny Lingham, a familiar name in the Bitcoin universe. He gained notoriety among cryptocurrency fans by founding mobile gift card app Gyft in 2012. Gyft allows customers to buy gift cards with Bitcoin. ... His Bitcoin price predictions have been infrequent, but on the money. Lingham made his first Bitcoin price prediction at a Bitcoin conference in San Jose in May 2013. At that point, the Bitcoin price was fresh off a run that took it from about $13.50 in December 2012 to $266 in April, then a drop back down to the $115 range. Lingham boldly predicted that the price of Bitcoin would hit $1,000 by the end of 2013. The audience chuckled at his audacity. While many Bitcoin enthusiasts felt the digital currency would get back to $266 or even $300, few thought it would reach $1,000 so quickly. .... Lingham made his next Bitcoin price prediction in a late March 2014 blog post… ... But the Bitcoin community remained undaunted. Bitcoin price predictions of an imminent return to $1,000 — and not long after that, $2,000 — were typical. Except for Lingham. He flat out said the Bitcoin price would not revisit $1,000 in 2014. Instead, he foresaw a lengthy period of Bitcoin price consolidation in the $350 to $550 range. ... Now, a little more than two years later, Lingham has weighed in again. This time he's bullish, predicting a Bitcoin price of $1,000-plus by the end of 2016. ... So this might happen after all  |
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I thought you were commenting on 470 levels and I was like "ah, old news" Just saw 530 on China / 500 on west |
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Many people stored BTC into casascius coins, if you move your coins from those you destroy a valuable wallet.
Didn't these come after the hashed addresses? If so they should be using hashes, not pubkeys. |
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Bye KnC. Guess you shoulda decentralized your operations to China.  The West has a huge technological advantage in things like silicon design expertise and lithography in low nm, yet it is not using it. On top of that, western businesses are bloated compared to how lean Chinese businesses do their work. "Let's open some fancy offices that cost a million bucks, hire 3-4 secretaries for eye candy paying them 100-150k, hire a PR firm another 200-400k, hire a legal firm or a bunch of lawyers for another half a million etc etc. For a westerner it might be "reasonable" to pay tens of thousands of dollars for ...rack mounts, for a chinese it makes way more sense to go to a local metal worker and tell him to make custom steel frames for pennies. The Chinese laugh all the way to the bank with how suicidal the Western OPEX and CAPEX are. not sure if you aimed your comment towards knc. i went to stockholm to check out the company when they offered their first mining hardware while everyone in the forums yelled SCAM. i run a business myself (not IT) for 20 years and i could see they were managing their business properly. so i became their first customer. sam cole is brilliant and a nice guy on top of it. i never understood all the hate. knc was at least trying to keep western companies in the race. and they did for some years. sad that it is not possible anymore. edit: typo Not it's not aimed towards knc - the comment is generic. I have no idea how KNC run their business. |
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Bye KnC. Guess you shoulda decentralized your operations to China. The West has a huge technological advantage in things like silicon design expertise and lithography in low nm, yet it is not using it. On top of that, western businesses are bloated compared to how lean Chinese businesses do their work. "Let's open some fancy offices that cost a million bucks, hire 3-4 secretaries for eye candy paying them 100-150k, hire a PR firm another 200-400k, hire a legal firm or a bunch of lawyers for another half a million etc etc. For a westerner it might be "reasonable" to pay tens of thousands of dollars for ...rack mounts, for a chinese it makes way more sense to go to a local metal worker and tell him to make custom steel frames for pennies. The Chinese laugh all the way to the bank with how suicidal the Western OPEX and CAPEX are. |
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dang this is bearish.
hash rate will drop by~4% with KNC gone?
how many others will turn off their small and medium sizes rigs and yield to the chinese mage mining farm?
Bitcoin Difficulty: 199,312,067,531 Estimated Next Difficulty: 206,408,627,573 (+3.56%) |
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http://moneymorning.com/2016/05/25/this-bitcoin-price-prediction-sees-a-2016-rise-to-1000/A Bitcoin price prediction of $1,000 by the end of 2016 might seem over the top — except that the person making it is two-for-two in his previous predictions. I'm talking about Vinny Lingham, a familiar name in the Bitcoin universe. He gained notoriety among cryptocurrency fans by founding mobile gift card app Gyft in 2012. Gyft allows customers to buy gift cards with Bitcoin. ... His Bitcoin price predictions have been infrequent, but on the money. Lingham made his first Bitcoin price prediction at a Bitcoin conference in San Jose in May 2013. At that point, the Bitcoin price was fresh off a run that took it from about $13.50 in December 2012 to $266 in April, then a drop back down to the $115 range. Lingham boldly predicted that the price of Bitcoin would hit $1,000 by the end of 2013. The audience chuckled at his audacity. While many Bitcoin enthusiasts felt the digital currency would get back to $266 or even $300, few thought it would reach $1,000 so quickly. .... Lingham made his next Bitcoin price prediction in a late March 2014 blog post… ... But the Bitcoin community remained undaunted. Bitcoin price predictions of an imminent return to $1,000 — and not long after that, $2,000 — were typical. Except for Lingham. He flat out said the Bitcoin price would not revisit $1,000 in 2014. Instead, he foresaw a lengthy period of Bitcoin price consolidation in the $350 to $550 range. ... Now, a little more than two years later, Lingham has weighed in again. This time he's bullish, predicting a Bitcoin price of $1,000-plus by the end of 2016. ...
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Please trust me when I say this: Gizzards 'n Bolts ice cream is kill, is not gonna catch on, not gonna capture 1% of the market.
Taste it FFS!
As I said, the only reason for someone to be butthurt just because people now have more choices than the 100 shops all offering the same type of centralized-trusted flavor, is if they are themselves affiliated with these shops and fear that they will lose marketshare to the new option presented for those who want to try something new. If it's such a failure there is nothing to worry about, let alone trying to convince people not to even try the new flavor  I mean if banks take a few days and many dollars to move money around the globe, why not use BTC which does that in a few minutes, with a couple cents fee? It's a new, superior, option - eliminating the trusted middle man (who could also pull a "bank holiday", a "depositor haircut" or "capital controls" on you). From 0%, to 0.0001%, to 0.001%, to 0.01%, to 0.1%, to 1% of the market pie - these are all giant steps in terms of expansion. The dynamics of the new entrant are very rewarding. |
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Arguably, not having "decentralized" doesn't mean those 100 shops are offering "just one flavor."
They are. The centralized and trusted flavor. There are multiple consequences of these natures which give the "icecream" of those 100 shops the same taste. Reversible transactions, funds locked or frozen just because a third party (company or governments) decided so, safety and capital mobility issues with haircuts, capital controls etc etc. That's the nature of that game. The other game is different. |
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Small blockists are killing Bitcoin.
https://bitcoinfees.21.co/Which fee should I use?
The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).It's short-sighted. What is important is not today but the future. In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given. So why the price is stagnating and VC investment is decreasing? Sure you computer geeks folks are cleverer than all the economic minded people on the planet. "Economic minded people" = the only model they understand is one of centralization, trust and counterparties. Trustless peer to peer economy is a foreign concept. Well no, economic models tend to account for centralization, trust, and counterparties. Amongst other things. The most discriptive/predictive ones tend to get complex, with maths and stuff. You, of course, reject them because 1. Decentralization itself is your objective (as opposed to maximizing wealth, knowledge, hippy stuff, etc.). If a model leads to solutions which do not require decentralization, into the trash it goes. Like rating cake recipes by the amount of Drano used. Angel food cake doesn't use Drano decentralization? Bad cake! 2. You simply don't understand conventional economics. I do not "reject" them. Bitcoin's success *depends* on them. We are in a town where there are 100 ice-cream shops (bank wires, western union, paypal and paypal clones, mobile payment systems, credit cards etc) but all these shops are offering just one flavor (=centralization). A new ice-cream shop opens and provides a new flavor, breaking the 100% "monopoly" of the previous flavor. This creates a booming market for the new entrant which starts at 0% and has enormous growth potential. Even if the new entrant captures ...just 1% of the pie of the centralized system, booom. We are talking about prices in 5 digits. And it will capture it. Why? Because the decentralized system has features that the centralized doesn't. They serve different needs, have different problems / weaknesses and different limitations. So if somebody wants the new ice-cream flavor, why not? Are you opposed to us having more flavors to choose from?  I mean you love your CC but isn't it ok if another one loves his BTC? As the CC suits your needs, BTC serves his needs. The only reason to be unhappy is if you own one of the old ice-cream shops (=banks etc) and fear the loss of the market share that is looming on the horizon, simply because now there is a choice for something different. |
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Small blockists are killing Bitcoin.
https://bitcoinfees.21.co/Which fee should I use?
The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).It's short-sighted. What is important is not today but the future. In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given. So why the price is stagnating and VC investment is decreasing? Sure you computer geeks folks are cleverer than all the economic minded people on the planet. "Economic minded people" = the only model they understand is one of centralization, trust and counterparties. Trustless peer to peer economy is a foreign concept. Some people who think they understand "economics" by insisting on turning a decentralized system into a centralized one, simply don't get what Bitcoin is about. Client-server databases are better for centralized systems. You don't need inefficient blockchains to do this work in a centralized manner. As for price movement, what I'm seeing is a lot of big-blockers bitching "blocks are full, it's impossible to move upwards" since we were in 200, in 300, in 400, etc etc and we are currently at 450. Why? Because the market, unlike some idiot bigblockers who try to pin-down price correlations with small or big blocks, full or not full blocks, is expecting that the system will be responsibly upgraded, in time, when it is necessary, with all the surrounding work being done. The market only reacted negatively in the two reckless attempts to fork bitcoin in to two currencies - a precedent that would have been extremely problematic. |
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Small blockists are killing Bitcoin.
https://bitcoinfees.21.co/Which fee should I use?
The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).It's short-sighted. What is important is not today but the future. In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given. |
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Small blockists are killing Bitcoin.
https://bitcoinfees.21.co/Which fee should I use?
The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$). |
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So you're okay with losing marketshare to alts while we wait for the fabled segwit/LN or whatever which won't be ready til god knows when?
What are you talking about? The traffic on chains like LTC, DOGE, DASH, XMR etc, is too small to even register. And ETH is speculative bs "smart contracts". |
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No, you heard they were going to become full last year. Now they are. Oh nooooooo (<= I bet you can find a colorful pony meme crying ) |
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Blocks are full
We've been hearing this since last year. What happened that "blocks are full"? Some were making prophecies of doom, destruction, crashes, etc etc, yet nothing happened and price doubled - despite the FUDstorm and fork threats. At most a bit of spam was replaced with a few more legit txs and that was the end of the story. |
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