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

[Divitiae miserae]

Kraken BTC withdrawal fee is 50k satoshi but usually far less is paid to the network and that, expectedly, lengthens the confirmation time.
As an example, Kraken paid less than 8500 satoshi for my last transaction which has been waiting for its first confirmation for an hour and a half, and this is the second time that happens to me.

If they want their pittance, fine, but at least they should allow us to set the actual transaction fee. I can't understand why it's not an available option yet.

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[sAt0sHiFanClub]

http://hackingdistributed.com/2015/12/23/bitcoin-fee-market/

I do not have experience with my old age. I do not go around artificially inducing osteoporosis [2] to get ready for my old days -- instead, I make the best of my working days when I'm blessed to have a working skeleton.

 

Did you read the first comment on that? Classic. Maaku chooses to hear only what he wants to hear...

Developing the fee market is not about rising fees..

Developing the fee market is about providing mechanisms for succinctly getting a feel of current fee rates, being able to provide updated fees in response to changing conditions or outdated info, and otherwise making sure that user experience regarding fees is as simple as possible.

So its not about raising the fee after all. Are you sure Mark? I mean, really, Are you telling us that? 

He is using the same weasel language ("Developing the market") when he simply means "getting higher prices"

[Feri22]

Merry Xmas to all

Stop watching the price for a while you junkies  

[JayJuanGee]

my guess is around 600-800 when the halving occurs.

i think our crazy bubble days are over, and more of a steady climb has become the norm.

this is good, the bubbles were way too stressful.

I don't agree, i think mega bubble is coming in coming months...Bitcoin is still too small market to be steady for 100% of time...

Yep .... exactamente.....

These various posters who prognosticate that bitcoin has reach some kind of stability or slow growth are living in a kind of fantasy land that ignores the actual state of bitcoin.... anything is possible in bitcoinlandia, but slow and stable seems to be less than a 5% chance, and maybe i am being even a bit too generous to put the probabilities that high?   

If you look at  the recent charts regarding volume and activity and market cap and development and which entities are taking an interest in bitcoin, you will recognize that stability is definitely low in the realm of probabilities in bitcoin's short or medium term future.... and slow growth is also a very low probability in its short or medium term future.

Surely, I would not mind some slow and gradual growth and maybe even some guarantees of such, but that description is out of this world and not the current state of bitcoin... sad to say, and happy to say, at the same time  because like many of us following these forums, I have been accumulating bitcoin over the past couple of years, and if you are reading this post, but you have not been accumulating, it is certainly not too late to get started, especially while BTC prices remain in the triple digits.

We are not guaranteed that violent and explosive upwards growth is going to occur right now or even in the coming 12 months because there is a lot of potential for big money to really attempt to continue to drive prices down, as was done in about the previous 18 months or so...  but nonetheless at this particular moment, the various variables do seem fairly well poised for a shot at some potential upward explosiveness.

 

I think that fact of actual state of bitcoin (total tx/sec, blocksize, mass adoption) atm is exactly why btc price will be limited.

but even then i agree that at next halving btc price will reach at least 500-800.  and if btc getting more mass adopted within next 4-10 years, maybe 50k, 100k  per bitcoin.

Surely you and I have differing views regarding bitcoin's current state of affairs and that effect on future price probabilities and maybe even what affects BTC prices, and there is certainly nothing wrong with having differing views.. and I certainly appreciate reading differing views on this forum.

hopefully, if we have really considered our views regarding the future likelihoods of bitcoin, then likely we are going to posture our current investments into BTC (or not) according to our view of it as compared with other possible investments that we may have available to us.

[billyjoeallen]

Volume has really dropped off since the $475 high. This rally may be getting long in the tooth. I lowered the premium on my arbitrage coins and still haven't been getting any bites.



Chinese seem to be the only ones pumping and they may not even be aware of the full block issue.

Repent for the fullblocalypse is nigh.

[Divitiae miserae]

Thanks for your kind advice, billyjoeallen. I'm sure you could employ your precious energy in far more productive activities other than aimlessly (suspiciously?) repeating yourself.

[billyjoeallen]

Thanks for your kind advice, billyjoeallen. I'm sure you could employ your precious energy in far more productive activities other than aimlessly (suspiciously?) repeating yourself.

Here's an idea: How about 1 kilobyte blocks to make the chain Superduper secure? We should petition the central planning committee of Blockstream.

[Divitiae miserae]

It's fair to say that any mentally sane person who stumbled across this issue isn't glad given the current state of affairs. But surely your behaviour won't help.

[ChartBuddy]

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[billyjoeallen]

It's fair to say that any mentally sane person who stumbled across this issue isn't glad given the current state of affairs. But surely your behaviour won't help.

It's uncharitable to call the smallblockers insane. Short-sighted and greedy maybe, but not crazy.

[AlexGR]

Chinese seem to be the only ones pumping and they may not even be aware of the full block issue.

Most consider it a given that changing the parameters to increase block size is a trivial matter and it will happen sooner or later. Your rationale goes like "if the blocksize isn't increased right now it means it is 1MB forever" and nobody sees it that way, no matter how many times you repeat your doom scenarios. Practically all devs openly say that the blocksize will be increased at some point.

The full blocks is not a real consideration because they can be full even if blocksize goes x2 or x10. The key element is whether miners will start cutting off free txs to compensate for abuse. Then what will you say? That miners cutting off people from transacting for free is not the bitcoin you signed up for? Will you then be calling the core-dev "police" to "impose" some way where the miners are forced to include low-fee / no-fee txs?

[billyjoeallen]

Chinese seem to be the only ones pumping and they may not even be aware of the full block issue.

Most consider it a given that changing the parameters to increase block size is a trivial matter and it will happen sooner or later. Your rationale goes like "if the blocksize isn't increased right now it means it is 1MB forever" and nobody sees it that way, no matter how many times you repeat your doom scenarios. Practically all devs openly say that the blocksize will be increased at some point.

The full blocks is not a real consideration because they can be full even if blocksize goes x2 or x10. The key element is whether miners will start cutting off free txs to compensate for abuse. Then what will you say? That miners cutting off people from transacting for free is not the bitcoin you signed up for? Will you then be calling the core-dev "police" to "impose" some way where the miners are forced to include low-fee / no-fee txs?

There actually are some people who never want the limit raised, but I know that most smallblockers do want want a small increase, just later rather than sooner and smaller rather than bigger. The problem is that waiting until blocks are full enough to have people competing for blockspace, there is little room and time to implement a solution without a service disruption.  

I have no problem with miners deciding how big their blocks are going to be. That's how it's supposed to work, with the contrasting factors being big blocks propagate slower and so run a higher risk of being orphaned, but smaller blocks have less fees.

[Denker]

Merry Xmas to all

Stop watching the price for a while you junkies  

Merry christmas to you as well!
Stopping to watch the price during the way up is very challenging and almost impossible.
Just today I think I have checked it 5-10 times or so.
This is a nice thing to see at christmas evening.
The honey badger is kind to us.

[rebuilder]

I guess I jumped the gun before, my well-wishes got buried in political bickering. so...

What a year, huh?

[ChartBuddy]

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[BlindMayorBitcorn]

*takes off moon boots*

Christmas should be about Jesus anyway.

[adamstgBit]

back to 333!

[ChartBuddy]

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[billyjoeallen]

Transactions have increased ~50% in the last month

https://blockchain.info/charts/n-transactions?timespan=30days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

At this rate, we're ~two months away from the Fullblocalypse.

Happy Ramadan.

[sAt0sHiFanClub]

back to 333!

And a jolly Bah, Humbug to you too sir!