No, I'm not trolling. Some simple math: Say the network capacity is 15000 transactions per hour before the difficulty increase. Now the difficulty jump reduces capacity by 17%. So now capacity is 2550 transactions per hour less. Now assuming transaction demand remains the same, in 12 hours you'll amass 30k transactions above capacity which go into the mempool. So that alone explains more than half of the effect. No need to postulate a "spam attack". Any slight (10%) increase in demand at the same time would account for another 18k transactions making that 48k transactions, almost your measure 55k. Wait even with you math, a sudden consistent spike of 10% in volume across the board right at the time of difficulty adjustment looks normal to you? Now just a hypothetical, if you had limited resources and were to trying to spam the blockchain how exactly would you approach or perhaps time your attack?  we might be sending real users away to altcoins/paypal/...I'm not ruling out a spam attack, what you say is correct. I just don't like the going from "woah, there's 50k tx in the mempool" to "it must be a spam attack" when any 10% fluctuation in demand would explain it because this "jumping to conclusions" is really diverting the view from the actual problem we have here: namely that we might be sending real users away to altcoins/paypal/.... I don't want that happening, but I'm pretty sure it is.Postulating a spam attack (because it doesn't look "normal") everytime we hit the usage ceiling negates the existence of this problem and effectively diverts energy from solving it. I offered a different view that explains what's happening as quite "normal" so we can focus on the problem at hand: not enough capacity. That's funny cause actions like these cause the exact opposite reaction in me. Like every time there's blatant spam attack some BU supporter hilariously attempts to claim that it's normal organic growth. To a point where they lose all credibility and i find myself automatically starting to assume that it's shilling. Not that it can't be organic growth just because there's so much attempt at disinformation as if someone is trying too hard difficulty adjusted up 15%, the only reason the mem pool was under control was because miners where adding hash power like trump adding jobs and minning blocks 15% faster before. this isnt "growth" or an "attack" this is the backlog of DOOOOM  |
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support is strong as fuck.
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30 mins after that tweet btcusd up by +$10 or so. Looks like people like the idea - or at least the idea that China thinks the cryptocurrency idea is good. That news isn't even new. I mean I read yesterday or the day before something from PBOC talking about how they believe cryptocurrency is good but the "emission should be controlled by the state". So I mean, all they really want to do is make a govt slave coin that has nothing to do with Bitcoin at all. I'm not even sure how that would be bullish. If anything, they would probably ban Bitcoin after they make their govt slave coin. right it seems there just trying to create a blockchain which keeps track of CNY, they control how much CNY is in the blockchain or somthing. i guess this would be bullish for bitcoin because it gets more poeple exposed to crypto, and it wont take them very long to understand that CNYcoin is a bit of a ripoff |
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but the dollar will crash and media will blame trump
I don't remember the exact number, but I think it's something like 60-80% of international trade is in USD. A lot of that is probably from the oil sales and such. Unless the US prints a lot of money or foreign countries switch to denominating trade in other assets, it's very difficult to bring the value of the USD down in relation to other garbage fiats. That's the whole catch with being a reserve currency, you're required to export more currency than you bring in (a trade deficit and implosion of domestic manufacturing). The only way Trump can "make America great again" is to destroy the dollar, China style centralized devaluation, print dollars to infinity with hyperinflation, or some other such tactic. Some people have theorized US currency would be switched into two different units with a new domestic only dollar. Such a tactic would likely only help the scumbag jewish bankers implement the SDR to take over the world with the SDR as the unit of account, though. Then 1st world nations would descend into poverty as slaves of the IMF/BIS. both these things have been happening. The government shut down at one point because they had blown through 10 years of government spending in 2 month. THANKS OBAMA and its been a while that countries have been looking for alternatives to the dollar... other shit fiats have one advantage over the dollar... they aren't the world reserve of dirty fiats which is about to lose its status, to bitcoin. not if but AS the USD loses its reserve status, the dollar will lose value. we'll see the DXY chart bleed slowly and rarely have sharp drops from here on out, till the end of time.
DOOM! |
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Except you gotta throw the self-dealing, narcisisms, attention whoring, bullying behavior and the attempts to be shocking, contrarian and unpredictable in there... so I am not sure about whether you can really either pinpoint him or to suggest that he is anything that is positive, except to the extent that he is likely to contribute considerably to chaos (whether that is a good thing, seems questionable
dude you're brainwashed. goofballs likely destroying and redistributing public value to themselves and friends ... currently in charge of the nuclear arsenal of the usa you dont seem to understand how trump works... trump sees a broken down golf course, hotel, or country. and then, he makes it gr8 again. what's that worth you??? ah ah ah, what you willing to pay for that!!! ungrateful little shit. ... no hard feelings, after all, this is the internet, and your my buddy.  yeah... we are little internet buddies. hahahaha  In the end, I do kind of think that the short-term price of the orange-headed monster is actually priced in, but surely there are going to be some likely market shaking occurrences in the coming months, and since the specifics are not currently known, it is somewhat difficult to plan ahead regarding BTC price direction based on such quasi-known unknowns.. except to attempt to some kind of current and ongoing protections for price movements in either direction. It would be nice to see another shot at the ATH in the coming 2-3 months, yet currently we are only a few (maybe four) weeks into the current unsettled price range of $800s to $1100s... so it could take a bit of time to break one way or another out of this quite broad range... no? jobs will be created and USA will begin to be richer ( its poeple not its government ) but the dollar will crash and media will blame trump bitcoin will profit big time. |
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Except you gotta throw the self-dealing, narcisisms, attention whoring, bullying behavior and the attempts to be shocking, contrarian and unpredictable in there... so I am not sure about whether you can really either pinpoint him or to suggest that he is anything that is positive, except to the extent that he is likely to contribute considerably to chaos (whether that is a good thing, seems questionable
dude you're brainwashed. goofballs likely destroying and redistributing public value to themselves and friends ... currently in charge of the nuclear arsenal of the usa you dont seem to understand how trump works... trump sees a broken down golf course, hotel, or country. and then, he makes it gr8 again. what's that worth you??? ah ah ah, what you willing to pay for that!!! ungrateful little shit. ... no hard feelings, after all, this is the internet, and your my buddy. |
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Except you gotta throw the self-dealing, narcisisms, attention whoring, bullying behavior and the attempts to be shocking, contrarian and unpredictable in there... so I am not sure about whether you can really either pinpoint him or to suggest that he is anything that is positive, except to the extent that he is likely to contribute considerably to chaos (whether that is a good thing, seems questionable
dude you're brainwashed. |
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i bet all the retards that protested trumps victory, listen to his speech today and thought to themselves: " but what about world peace?  if we work together we can make the whole world gr8 again. i was promised a female president " |
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In a day or two I'm thinking that 860-870 will be retested, then hopefully bounce from there into the 900s.
I agree with you there, i think a new "all time recent low" is possible ( like 720?690? ) within a few weeks , but unlikely, very unlikely, and the retest of the mid or low 800's will make that clear. |
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i love trump!  I really don't understand this thing wi th Trump.
I watched the show now and was good to watch him saying we will give power to people, when he say we not only transfer power from one president to another but today we transfer power to you to people.
What is the relation of BTC and Trump compare to price??
trump is all about free markets, limited government, individual freedoms etc etc kinda like mr. bitcoin |
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Good morning Bitcoinland.
Still going sideways in the $900 range... currently exactly $900USD at Bitcoinaverage.
The big USA inauguration day whoop-de-doo that everyone seemed to be expecting hasn't happened so far but it's still early.
Like the election day hype, I think it's over-rated.
We'll see.
Trump gets to be president in about half an hour. I don't expect the price to do much immediately afterwards. He can't start changing policies until after the weekend. as if watching trump get sworn in won't cause mass hysterical buying of gold silver and bitcoin... get real. T-25 mins till lift off! |
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The link that I gave was just to provide the status of the site... The site seems to be back up now, but my wallet still is not loading... maybe I just have to wait a bit because they seem to have acknowledged also that the site was down for a bit of time... hopefully it gets back up and running soon... i saw the same error the other day. |
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Well ....in the short term....I think the odds are pretty good that JUST when we get around $1,000 usd for a BTC again....China Gov't will drop the other shoe on regulation irregularities as they call them on the Chinese exchanges. One way or another we will know how the China Gov't really feels about crypto and BTC in how soft or hard they come down on them with fines etc. Not looking like they really will slap them up much imho. But am accumulating $$$ for $750 btc price again. Also if I'm wrong and they really slap them up. Then I can to to the mantra/motto: 'cheap coins, cheap coins' my other mantra is ' moon,moon' its all pretty 'binary' to protect my ego.  I am not sure if I am as negative as you, but I do think that it is a good idea to sufficiently prepare for either price direction, whether that is $750 or $1250 Well it will be one camp or the other. They will either ignore the problem with some verbal talk for the exchanges to fix stuff with no penalties or issues or imho they will slap some restrictions on them in some manner to throttle them. Myself I think it likely will be a stern talking to and a wrist slap. But the reaction of even the 'stern wrist slap' likely will drop the price. So need some $$$ on hand. If nothing at all comes from it then I will want the $$$ set aside for moon,moon so I can run the bubble up with the other lemmings. (good to have silly hobbies/goals) i'm thinking along the same lines. I grabbed some ammo, just incase you start yelling 'cheap coins, cheap coins' 892 . are they cheap yet? |
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Whose got control of adamstgBit account and is censoring around here?
No idea but you have people that don't even know how Bitcoin works typing "Bitcoin is the new gold", then I post that it's not possible for Bitcoin to defeat metals as a store of value on Exter's pyramid and post is insta-deleted. Posting the simple objective fact that Bitcoin does not make metals obsolete is considered heresy. This is an economics speculation thread. Whether Bitcoin can or can't defeat gold or silver's market cap is part of the equation in quantifying price. fiat beats gold's and silvers and ever other metal's market caps combined. put that in you pipe and smoke it. |
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dont mind me, just making sure this gifs works, gonna use it when we get to 1337  |
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