Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[marcus_of_augustus]

tl;do read

I'll let luke-jr supply a little cold water for your 4-6 year solution euphoria:

[–]luke-jrLuke Dashjr - Bitcoin Expert 6 points 2 hours ago
Hmm, problem here is that CPU usage is not the primary bottleneck for block sizes: bandwidth is. And unfortunately, SW doesn't help in the bandwidth area at all. So while I do think we should take this opportunity to get the block size changes softforked in instead of hardforked (buying us a bit more time before a hardfork is required?), it does still need to be gradual and not just 4x at once.
My suggestion is to go based on either BIP 103 or John Sacco's double-the-limit-every-subsidy-halving idea.

wut?

no magic?

Small-block scaling is starting to remind me of cold fusion.

god you bears are desperate, at least try and use material you have an inkling of ... hint: there are 16 inklings in a clue.

[1714503027]

1714503027

[Cconvert2G36]

The miner panel at Scaling HK:

https://www.youtube.com/watch?v=H-ErmmDQRFs&t=18m12s

Worth a watch for any bitcoin investor. My impression was that they all want bigger blocks, but feel that BIP101 is too aggressive. They don't hate the idea of being given more power in the form of BIP100, but added complexity and the possibility of a 20% miner blocking increases are negatives.

[Cconvert2G36]

not sure if you read some of my previous posts up page ... there is way more than a plan in place already
imho that seg-witness stuff looks like a viable solution for the foreseeable future (4-6yrs) plus some other benefits to boot, better than a risky can kick, it is a low risk restructuring that buys time and makes lite clients a real thing again (not just security theatre like SPV bitcoinJ)

tl;dr short-term scaling is solved ... we can worry about the long term when it arrives because we will know better what it looks like then (particularly the fees market with less reward transition conundrum)

tl;do read

I'll let luke-jr supply a little cold water for your 4-6 year solution euphoria:

[–]luke-jrLuke Dashjr - Bitcoin Expert 6 points 2 hours ago
Hmm, problem here is that CPU usage is not the primary bottleneck for block sizes: bandwidth is. And unfortunately, SW doesn't help in the bandwidth area at all. So while I do think we should take this opportunity to get the block size changes softforked in instead of hardforked (buying us a bit more time before a hardfork is required?), it does still need to be gradual and not just 4x at once.
My suggestion is to go based on either BIP 103 or John Sacco's double-the-limit-every-subsidy-halving idea.

euphoria huh? Luke-Jr is always conservative on bandwidth because lives in rural Florida on an apparently sub-par connection. If we scale TX rate 4x without a hard-fork then current bandwidth is already capable of handling that ... not sure where your cold water thinking is here, a damp squib?

The key is without risky hard-fork for now ... in the meantime technology hardware, software and network data knowledge all improve while transition to fees driven PoW security gets closer (halving to 6.25btc reward) ... and lite nodes now have a viable future instead of client-server (risky offchain). It's all very encouraging, an alternative consensual path for foreseeble future to bludgeoning through an unpopular blocksize hardfork with exponential scaling into an unknowable outcome. The world might look very different in 2 years, let alone 5 or 20.

I thought the quote was appropriate because even luke-"dialup"-jr is for conservative max increases (sooner than 2019 or 2021), and he understands the actual gains provided by SegWitness better than me and most.

[marcus_of_augustus]

not sure if you read some of my previous posts up page ... there is way more than a plan in place already
imho that seg-witness stuff looks like a viable solution for the foreseeable future (4-6yrs) plus some other benefits to boot, better than a risky can kick, it is a low risk restructuring that buys time and makes lite clients a real thing again (not just security theatre like SPV bitcoinJ)

tl;dr short-term scaling is solved ... we can worry about the long term when it arrives because we will know better what it looks like then (particularly the fees market with less reward transition conundrum)

tl;do read

I'll let luke-jr supply a little cold water for your 4-6 year solution euphoria:

[–]luke-jrLuke Dashjr - Bitcoin Expert 6 points 2 hours ago
Hmm, problem here is that CPU usage is not the primary bottleneck for block sizes: bandwidth is. And unfortunately, SW doesn't help in the bandwidth area at all. So while I do think we should take this opportunity to get the block size changes softforked in instead of hardforked (buying us a bit more time before a hardfork is required?), it does still need to be gradual and not just 4x at once.
My suggestion is to go based on either BIP 103 or John Sacco's double-the-limit-every-subsidy-halving idea.

euphoria huh? Luke-Jr is always conservative on bandwidth because lives in rural Florida on an apparently sub-par connection. If we scale TX rate 4x without a hard-fork then current bandwidth is already capable of handling that ... not sure where your cold water thinking is here, a damp squib?

The key is without risky hard-fork for now ... in the meantime technology hardware, software and network data knowledge all improve while transition to fees driven PoW security gets closer (halving to 6.25btc reward) ... and lite nodes now have a viable future instead of client-server (risky offchain). It's all very encouraging, an alternative consensual path for foreseeble future to bludgeoning through an unpopular blocksize hardfork with exponential scaling into an unknowable outcome. The world might look very different in 2 years, let alone 5 or 20.

I thought the quote was appropriate because even luke-"dialup"-jr is for conservative max increases (sooner than 2019 or 2021), and he understands the actual gains provided by SegWitness better than me and most.

he's talking about raising the total data rate (seg. witness + tx data) gradually, not the max_block_size limit ...

[Cconvert2G36]

he's talking about raising the total data rate (seg. witness + tx data) gradually, not the max_block_size limit ...

Sigh, you're right, he's afraid about even getting these "free" gains already... I knew that didn't sound like luke.  

An hour later he gave us a kernel of moral wisdom on slavery.

To Christians: why is slavery not permitted today? by some_random_guy_5345 in DebateReligion
[–]luke-jr 1 point an hour ago
Slavery is an imperfection. We can and should strive to get rid of imperfections. However, since slavery is not inherently immoral itself, when it is practised, it must be done morally and slaves treated as people, hence the need for guidelines.

[marcus_of_augustus]

he's talking about raising the total data rate (seg. witness + tx data) gradually, not the max_block_size limit ...

Sigh, you're right, he's afraid about even getting these "free" gains already... I knew that didn't sound like luke.  

An hour later he gave us a kernel of moral wisdom on slavery.

To Christians: why is slavery not permitted today? by some_random_guy_5345 in DebateReligion
[–]luke-jr 1 point an hour ago
Slavery is an imperfection. We can and should strive to get rid of imperfections. However, since slavery is not inherently immoral itself, when it is practised, it must be done morally and slaves treated as people, hence the need for guidelines.

  ... the guy is incorrigible but if he keeps solving bitcoins problems with flashes of weird brilliance from the fringey far-side, then all power to him. Great strength comes from diversity of thinking.

[ChartBuddy]

Coin



Explanation

[Fatman3001]

tl;do read

I'll let luke-jr supply a little cold water for your 4-6 year solution euphoria:

[–]luke-jrLuke Dashjr - Bitcoin Expert 6 points 2 hours ago
Hmm, problem here is that CPU usage is not the primary bottleneck for block sizes: bandwidth is. And unfortunately, SW doesn't help in the bandwidth area at all. So while I do think we should take this opportunity to get the block size changes softforked in instead of hardforked (buying us a bit more time before a hardfork is required?), it does still need to be gradual and not just 4x at once.
My suggestion is to go based on either BIP 103 or John Sacco's double-the-limit-every-subsidy-halving idea.

wut?

no magic?

Small-block scaling is starting to remind me of cold fusion.

god you bears are desperate, at least try and use material you have an inkling of ... hint: there are 16 inklings in a clue.

Sure, I'm a bear and Gavin's an idiot. Seems like you've got it all figured out.

An hour later he gave us a kernel of moral wisdom on slavery.

To Christians: why is slavery not permitted today? by some_random_guy_5345 in DebateReligion
[–]luke-jr 1 point an hour ago
Slavery is an imperfection. We can and should strive to get rid of imperfections. However, since slavery is not inherently immoral itself, when it is practised, it must be done morally and slaves treated as people, hence the need for guidelines.

I'll stop writing about blocksize if you can get Luke to stop writing about philosophy.

[ghandi]

Fuck this shit.

Went leveraged long yesterday. Got kicked out by 2€ (stop loss @253€) and now everything back to normal

[marcus_of_augustus]

... and just for the record Luke-Jr is slightly wrong on seg-witness not helping bandwidth requirements because it will, in a network-wide sense.

Newly-synching full-node clients will be downloading a reduced size blockchain (from date seg-witness begins) so placing less total bandwidth load (data caps) on network and Lite clients will use up less aggregate bandwidth, placing less load on full-nodes also.

[ChartBuddy]

Coin



Explanation

[conspirosphere.tk]

wow people have finally figured out it's retarded and completely against self interest to loan your coins out to people who want to dump down the price ? hot damn !

especially considering the almost ZIRP on BTC lending on Finex. Lenders would make 3X+ more lending BTC on Poloniex to shorters against altcoins. Or even more lending $ on Finex.

[BTC_Markets]

Market Sentiment

Longs | Shorts

BitcoinMarkets Flair *
43.75% | 56.25%

OKCoin Elite Traders
50% | 48%

OKCoin Futures Position Ratio
37.29% | 33.25%

Whaleclub.co Top Traders
45.54% | 54.45%

* calculates flair changes from bullish to bearish and vice-versa in the past 24 hours

[ChartBuddy]

Coin



Explanation

[peonminer]

Rally in the valley
 Here we go!!!!

[r0ach]

The big ass macro wedge broke to the upside if anyone wasn't paying attention.  Mining seems like a horrible investment right now so I imagine the price will keep increasing till it's not. 

[peonminer]

https://www.youtube.com/watch?v=0HtyF0jux2Q

Break through that ceiling !!!

2HR SAR just flipped. This is gentlemen1!!!1!!1!

[Stringer Bell]

Woohoo! Up we go  

Btw, next time that shit-stirring troll (lambie/ezybella/whoever it is), I'll be ignoring straight away like usual. Interacting with somebody like that just shat up this thread, until somebody kindly cleaned house. Report post, click ignore, waste of time minimized.

[Stringer Bell]

It was fun troll-baiting however. When somebody has a rage blackout from being tipped BTC, you know you hit a very strange central banky nerve.

[rebuilder]

Woohoo! Up we go  

Btw, next time that shit-stirring troll (lambie/ezybella/whoever it is), I'll be ignoring straight away like usual. Interacting with somebody like that just shat up this thread, until somebody kindly cleaned house. Report post, click ignore, waste of time minimized.

Just report trolls to the mods. Ignoring is ok, but reporting gets the trash taken out before the thread gets derailed.