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

[r0ach]

This thread has turned into a complete noob convention.  Whether you think block size should be 1MB or 10MB, to address spam on a blockchain, you don't purposely make the blocks as small as possible, you institute a minimum transaction fee capable of preventing the spam regardless of block size.  Litecoin has a 0.001 min transaction fee for this reason.  Bitcoin needs to increase the minimum transaction fee as well.  Zero fee transactions never should have existed in the first place.

Bitcoin doesnt "need" anything. Bitcoin "is".

You might be able to make the argument that zero fee transactions should exist to allow Bitcoin the possibility of being run as some kind of public utility, but that would be a pro-central government standpoint.

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[Fatman3001]

This thread has turned into a complete noob convention.  Whether you think block size should be 1MB or 10MB, to address spam on a blockchain, you don't purposely make the blocks as small as possible, you institute a minimum transaction fee capable of preventing the spam regardless of block size.  Litecoin has a 0.001 min transaction fee for this reason.  Bitcoin needs to increase the minimum transaction fee as well.  Zero fee transactions never should have existed in the first place.

So when Bitcoin is at Adams 32k it will cost $32 to do a transaction?

[brg444]

It's by design a peer-to-peer electronic CASH system.

your words.

No wonder nobody takes you idiots seriously because you have no arguments just dumb half-baked economic theories, innuendo and then finally smearing and butthurt ragequit.

But I also suspect this is not the real BJA but someone he sold his account to ... someone who is quite happy to troll endlessly on a seemingly divisive issue (but that in reality was settled long ago) to stir up the FUD and milk the confusion cow for as long as possible.

It's the title of the motherfucking white paper, Marcus. If it's settled, then why do you even bother responding to me? Are you afraid your fear-mongering about centralization isn't as effective as you want it to be?

Right.

Notice the peer-to-peer part?

[r0ach]

This thread has turned into a complete noob convention.  Whether you think block size should be 1MB or 10MB, to address spam on a blockchain, you don't purposely make the blocks as small as possible, you institute a minimum transaction fee capable of preventing the spam regardless of block size.  Litecoin has a 0.001 min transaction fee for this reason.  Bitcoin needs to increase the minimum transaction fee as well.  Zero fee transactions never should have existed in the first place.

So when Bitcoin is at Adams 32k it will cost $32 to do a transaction?

If Bitcoin is worth $32k and only has a 1MB block size, it will act solely as either:

1) a clearing/settlement network for banks

or

2)  a clearing/settlement network for the Lightning Network

At that point, transaction fees made for purchases by individual users would not be affected and you would rarely pay it except when doing things like changing Lightning hubs or changing banks.  Bitcoin with 1MB blocks is purely a settlement layer.  The minimum, economical transaction size on the main chain with 1MB blocks would probably be something like $50k-100k IMO.  Increasing block size by one order of magnitude to 10MB would put Bitcoin in more of a gray area where normal humans would be using the main chain as kind of a checkbook for large purchases.  

I haven't put much thought into the ideal minimum transaction fee for 1MB blocks, but it would likely be 0.0001 or 0.001

If I was the dictator of Bitcoin, I would likely just change it to 5 minute block times with 4MB max size, or 2.5 minute blocks and 2MB block size, both with 0.0001 min transaction fee.  Something new like Bitcoin-NG would likely come along and fork over to replace this though.

[DieJohnny]

I woke up one day and looked in my wallet. I couldn't find what i was looking for... the passphrase was nonsensical to me any more. I chose to remove it because the thought of it was eating into my brain like a slow acid drop on a loaf of dry crusty bread. I had enough. Things had to change. I needed confidence, assurance, vision, and most of all I need clarity of thought. Enough with the promises, the false narratives, the false flags and worst of all the straight-up, in-your-face deception. I am no longer waiting, i am not going to sit here and wait for my fate to be handed to me in one small violation of my security after another. With this one declaration.... I am no longer waiting..., I feel that sense of liberation, it is upon me, I will step forward to accept my place in history. Join me planet earth, let us do this together, step into the future without shame or guile.... just pure, transparent, open ambition. Let's go.

[Fatman3001]

I get a feeling there's quite a bit of blind overlapping consensus in the small block camp.

[BlindMayorBitcorn]

Kent Brockman: It's blob rule on the streets of Springfield! And to make matters worse, we're being attacked by a fifty-foot Lenny!
Fifty-Foot Lenny: Everyone's paying attention to Homer.
Carl: I still like you.
Fifty-Foot Lenny: Thanks, Invisible Carl!

Interesting...

[r0ach]

I woke up one day and looked in my wallet. I couldn't find what i was looking for... the passphrase was nonsensical to me any more. I chose to remove it because the thought of it was eating into my brain like a slow acid drop on a loaf of dry crusty bread. I had enough. Things had to change. I needed confidence, assurance, vision, and most of all I need clarity of thought. Enough with the promises, the false narratives, the false flags and worst of all the straight-up, in-your-face deception. I am no longer waiting, i am not going to sit here and wait for my fate to be handed to me in one small violation of my security after another. With this one declaration.... I am no longer waiting..., I feel that sense of liberation, it is upon me, I will step forward to accept my place in history. Join me planet earth, let us do this together, step into the future without shame or guile.... just pure, transparent, open ambition. Let's go.

What does this mean?  You're getting a sex change?

[Meuh6879]

So when Bitcoin is at Adams 32k it will cost $32 to do a transaction?

cost of transaction always has been revised over the year (2012-2013-2014-2015).

it's not new because, on cold storage, i use some fees (4-5 movements) to keep a spendable roundy number of BTC.

[Fatman3001]

I woke up one day and looked in my wallet. I couldn't find what i was looking for... the passphrase was nonsensical to me any more. I chose to remove it because the thought of it was eating into my brain like a slow acid drop on a loaf of dry crusty bread. I had enough. Things had to change. I needed confidence, assurance, vision, and most of all I need clarity of thought. Enough with the promises, the false narratives, the false flags and worst of all the straight-up, in-your-face deception. I am no longer waiting, i am not going to sit here and wait for my fate to be handed to me in one small violation of my security after another. With this one declaration.... I am no longer waiting..., I feel that sense of liberation, it is upon me, I will step forward to accept my place in history. Join me planet earth, let us do this together, step into the future without shame or guile.... just pure, transparent, open ambition. Let's go.

Sounds like you bought a Trezor.

[LFC_Bitcoin]

I woke up one day and looked in my wallet. I couldn't find what i was looking for... the passphrase was nonsensical to me any more. I chose to remove it because the thought of it was eating into my brain like a slow acid drop on a loaf of dry crusty bread. I had enough. Things had to change. I needed confidence, assurance, vision, and most of all I need clarity of thought. Enough with the promises, the false narratives, the false flags and worst of all the straight-up, in-your-face deception. I am no longer waiting, i am not going to sit here and wait for my fate to be handed to me in one small violation of my security after another. With this one declaration.... I am no longer waiting..., I feel that sense of liberation, it is upon me, I will step forward to accept my place in history. Join me planet earth, let us do this together, step into the future without shame or guile.... just pure, transparent, open ambition. Let's go.

Sounds like you bought a Trezor.

He got his private keys tattooed on his penis where the only potential thief is his girlfriend or boyfriend?

[ChartBuddy]

Coin



Explanation

[adamstgBit]

1 Bitcoin Vires In Numeris 2012 Physical Bitcoin Wallet





The mini paper wallet on the back is held in place with a clear sticker, showing the public key, peel off the sticker to reveal the private key. there is a small circle grove in which the paper wallet fits so that the back of the coin is totally flat.

Auction is for 1 Coin!

Starting bid 0.001BTC
Min bid increment 0.0001BTC
Ends if no bids have been placed for 6 hours

buy Buy BUY!!!
https://bitcointalk.org/index.php?topic=1283854.0
 
                       
 

[peonminer]

Nice BTCz pr0nZ adam

[r0ach]

So you can use BTC as you suggest alts should be used -- for moving your (presumably highly volatile) native currency into real money -- USD.

Yea, let's all convert our Bitcoin into Jewish paper confetti and watch as it goes to 0 value as they print an infinite amount more, great idea.  You Zionist spammers from the JIDF that have already created over 5000 pro-central banking spam accounts need better propaganda.

[peonminer]

Looks like a little pullback before advance.

Trade opportunity coming up.

[marcus_of_augustus]

pump coming ... cut your looses

[spooderman]

hashrate is going nuts. this is a much better metric to gauge bitcoin's success than price!

[Monnt]

Down goes the dollar, yen and euro value.

Up goes the bitcoin price.

All hail satoshi.

[BlindMayorBitcorn]

I just had to share this. Epic delusions of grandeur? Or wut???