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

[ChartBuddy]

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Explanation

[1714647252]

1714647252

[billyjoeallen]

400 held!!!!! That means I don't have to close my short...yet.

Actually watching a wall on the wall observer thread. Whoooda thunk it?

The catch is that the was was invisible. Heluva thing watching bulls batter it over and over without making a dent.

Apparently the market had the opposite reaction that I had to the miner letter. Optimists, I guess.
I don't think it means something until it means something.

It's not over yet.  Gosh, we just broke over $400 for a few minutes, and you are calling the end of $400, already?   Strange.


Maybe you are right, but it seems fairly likely that we will be going into the $400s, maybe approaching $420 within a few days.  I would place it at decent odds, rather than attempting to call it for sure one way or another at this point.

I am not calling it. Just observing the action.   Obviously I was very wrong putting in a short in the low $380s.  or maybe just early.  we'll see.

[molecular]

knock knock knocking on heavens door

[blunderer]

At some point the network will drop this unconfirmed transaction and it will show up on the original address again.

Do you know the specifics of how this works? Like x number of blocks mined, or x gadzigabites in mempool or?

[inca]

400 held!!!!! That means I don't have to close my short...yet.

Actually watching a wall on the wall observer thread. Whoooda thunk it?

The catch is that the was was invisible. Heluva thing watching bulls batter it over and over without making a dent.

Apparently the market had the opposite reaction that I had to the miner letter. Optimists, I guess.
I don't think it means something until it means something.

It's not over yet.  Gosh, we just broke over $400 for a few minutes, and you are calling the end of $400, already?   Strange.


Maybe you are right, but it seems fairly likely that we will be going into the $400s, maybe approaching $420 within a few days.  I would place it at decent odds, rather than attempting to call it for sure one way or another at this point.

I am not calling it. Just observing the action.   Obviously I was very wrong putting in a short in the low $380s.  or maybe just early.  we'll see.

My problem with shorting a commodity like bitcoin is that the price has a nasty habit of very occasionally disappearing into the stratosphere. Of course the historic bitcoin trend is a long term bullish picture and thus the price could never come back down again leaving you with potentially unlimited losses..  

[Laosai]

knock knock knocking on heavens door

Mah. Don't say that. I'm sure it gonna get backed by lots of buying trend ^^

Well we all know that 400 is a huge ceiling. Lots of holders want to get rid of part of their investment at such price.

[sAt0sHiFanClub]

Yes!
Bitcoinwisdom shows $400 on average!!
Welcome back!And please stay!!!

Why's it gone over $400 on stamp? Is there no real reason or has something happened to pump up the price? I can't find any giant events that are responsible for it like the US government has decided to ditch the dollar and switch to using nothing but bitcoin.

First classic block.

Look at the version of the block :
https://blockchain.info/fr/block-height/398364

  

[lister storm]

the price looks really good right now, i hope that people will not just start selling all of their bitcoins

[ChartBuddy]

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Explanation

[Laosai]

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Explanation

Well I knew it wouldn't hold. We gonna test the 400$ ceiling for a few days until the market decides between the 420 and the 380.

[AlexGR]

Ahah! Ok so all tx do have fees.

The fees currently paid, even for first block inclusion while 'blocks are full' are near zero.

Urgent first block inclusion right now costs 0.03 USD and if you want to go +1-3 blocks, you can drop that to ~1cent. Spamming the blockchain is, for all practical intents and purposes, a very low cost activity.

[bargainbin]

Ahah! Ok so all tx do have fees.

The fees currently paid, even for first block inclusion while 'blocks are full' are near zero.

Urgent first block inclusion right now costs 0.03 USD and if you want to go +1-3 blocks, you can drop that to ~1cent. Spamming the blockchain is, for all practical intents and purposes, a very low cost activity.

Why would the miners not simply ignore these transactions?
@roughly 3tps x 60 x 10 = ~1800transactions x 2cents = $36 added to ~$10,000 block reward, making it $10,036?
Is rational self-interest = shitting where they sleep?

[ChartBuddy]

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Explanation

[Laosai]

Ahah! Ok so all tx do have fees.

The fees currently paid, even for first block inclusion while 'blocks are full' are near zero.

Urgent first block inclusion right now costs 0.03 USD and if you want to go +1-3 blocks, you can drop that to ~1cent. Spamming the blockchain is, for all practical intents and purposes, a very low cost activity.

Do you have somewhere where you get those informations? Cause it would be usefull to follow this price trend.

[AlexGR]

Ahah! Ok so all tx do have fees.

The fees currently paid, even for first block inclusion while 'blocks are full' are near zero.

Urgent first block inclusion right now costs 0.03 USD and if you want to go +1-3 blocks, you can drop that to ~1cent. Spamming the blockchain is, for all practical intents and purposes, a very low cost activity.

Do you have somewhere where you get those informations? Cause it would be usefull to follow this price trend.

Sure: https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 30 satoshis/byte, shown in green at the top.
For the median transaction size of 327 bytes, this results in a fee of 9,810 satoshis.

9810 Satoshi / 100.000.000 x 398$ = 3.9 cents for a 327 byte tx and 2.98 cents for a 250 byte tx. Again that's for first block inclusion - calculated with 30 satoshi per byte. And there are others paying 1-10 or 11-20 etc (you can see the breakdown).


Edit: Uploading photo... right now fees for first block are even lower at 20 satoshi/byte:

[BlindMayorBitcorn]

Ahah! Ok so all tx do have fees.

The fees currently paid, even for first block inclusion while 'blocks are full' are near zero.

Urgent first block inclusion right now costs 0.03 USD and if you want to go +1-3 blocks, you can drop that to ~1cent. Spamming the blockchain is, for all practical intents and purposes, a very low cost activity.

Why would the miners not simply ignore these transactions?
@roughly 3tps x 60 x 10 = ~1800transactions x 2cents = $36 added to ~$10,000 block reward, making it $10,036?
Is rational self-interest = shitting where they sleep?

I believe they're just keen to solve those blocks before the other guy does it. Innit?

[Laosai]

Ahah! Ok so all tx do have fees.

The fees currently paid, even for first block inclusion while 'blocks are full' are near zero.

Urgent first block inclusion right now costs 0.03 USD and if you want to go +1-3 blocks, you can drop that to ~1cent. Spamming the blockchain is, for all practical intents and purposes, a very low cost activity.

Do you have somewhere where you get those informations? Cause it would be usefull to follow this price trend.

Sure: https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 30 satoshis/byte, shown in green at the top.
For the median transaction size of 327 bytes, this results in a fee of 9,810 satoshis.

9810 Satoshi / 100.000.000 x 398$ = 3.9 cents for a 327 byte tx and 2.98 cents for a 250 byte tx. Again that's for first block inclusion - calculated with 30 satoshi per byte. And there are others paying 1-10 or 11-20 etc (you can see the breakdown).


Edit: Uploading photo... right now fees for first block are even lower at 20 satoshi/byte:

Wow! You're full of useful links buddy ^^

That's cool. Even though I got no idea of how you make the equivalent byte/ satoshi (I mean how many bytes does my transaction take depending of the number of bitcoins i send) but it gives you a raw estimation nonetheless! Thanks!

[bargainbin]

Ahah! Ok so all tx do have fees.

The fees currently paid, even for first block inclusion while 'blocks are full' are near zero.

Urgent first block inclusion right now costs 0.03 USD and if you want to go +1-3 blocks, you can drop that to ~1cent. Spamming the blockchain is, for all practical intents and purposes, a very low cost activity.

Why would the miners not simply ignore these transactions?
@roughly 3tps x 60 x 10 = ~1800transactions x 2cents = $36 added to ~$10,000 block reward, making it $10,036?
Is rational self-interest = shitting where they sleep?

I believe they're just keen to solve those blocks before the other guy does it. Innit?

Theoretically, they are interested in sustained profitability (hence *enlightened* self-interest). Being, presumably, rational actors, they wish to make the most *money*, overall.
If solving a blog earlier means BTC price falls (as it would, if teh blogchain becomes too bloated to be practical), then solving a blog earlier don't count for shit.

[AlexGR]

Wow! You're full of useful links buddy ^^

That's cool. Even though I got no idea of how you make the equivalent byte/ satoshi (I mean how many bytes does my transaction take depending of the number of bitcoins i send) but it gives you a raw estimation nonetheless! Thanks!

The size of the transaction is not relevant to the btcs you are sending. You could be sending 0.01 btc or 10 btc and the tx size could be the same.

However if you had an address that has its 10 btcs as a result of gathering, say, 1000 donations of 0.01 btc there, then while trying to send these 10 btcs you would essentially be transferring 1000 x 0.01 btc, so at that point you'd be looking at a pretty large tx in terms of bytes/kilobytes.

[LFC_Bitcoin]