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

[aztecminer]

Ok, Aztec, Quick question: Why does it matter who the current President is? How would this impact your analysis? Why is 'gimpcoin' in your opinion not rising in value until after that point.

LOOK at you... hahahahahahaha..

Acting as if Mr. Aztec actually has any meaningful thoughts or contribution that he could make.        


Edit:  or that he would actually answer the question.. .. reading his above response that avoids answering the question (regarding Why Obama specifically).

like your insulting people in the forum is a sign of intelligence ....

Who am I insulting?  Helrow?

 I am just describing your behavior.. You can take it how you like.  Do you ever engage in meaningful discussion that is genuine and an attempt at an acruate and honest prediction.... possibly 1/20 posts, maybe, giving you the benefit of the doubt.  

So in that regard, even though I may call you a dip shit a dumb shit and various other names, I am referring to your behavior more than anything, and not really asserting that you are really dumb.. even though sometimes it seems very likely... mostly, you are disingenuous.. which is not the same as dumb...

your behavior is to down talk and insult people you do not agree with in this forum ... u do it all the time.. just because u dont understand me doesnt mean anything about me . alright #gimptard

all my posts were on topic until you started in with your insults.

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[Fatman3001]

...
Let me ask you this: If I take bitcoin-qt source, change a few lines of code regarding the suggested fees in order to hardwire it to pay a fixed 0.1$ fee (~100 satoshi / byte) for a 250byte tx, compile it and market it as an alternative client that works every single time, then what would you say? That now bitcoin works predictably and that the network is fine?
...

Let me cut in. Yes, soon you & hdbuck/brg444/ice will be the only 2 people transacting on Bitcoin.
Caveat: this will make your bitcoins worth less, as in "virtually nothing, because no one uses Bitcoin because useless.
So may not be the utopia you've been dreaming about.

Have you ever played the game Postal? I mean the original Postal?

In the intro there's a view of a normal street with normal people, but it flickers into a parallel inferno where everything is burning and where all the people are killers shooting at you.

This thread kind of reminds me of that game.

[AlexGR]

Why fores users onto other competitive systems already this year Alts have grown 6% at the expense of Bitcoin.

Can you show me the transactions these other competitive systems are doing?

I actually tried a block explorer with major altcoins, and their blocks are ghost-towns.

Last 5 blocks (tx count):

litecoin
3-1-1-7-9

dash
3-11-7-9-1

monero
2-1-1-1-1

eth
0-2-0-7-0

btc:
702-1420-2196-2384-2764

Not to prove a point, but you are aware that they all have a different block time right? So you should at least multiply Litecoin's transactions x4 and Monero's transactions x10 (soon x5) for a fair comparison (no clue about the others mentioned).

Yes I am aware but if you do it x4 or x10, you must extract all the block rewards. If you see monero 1-1-1-1-1 it's just 5 block rewards, not actual txs that would be 10txs for 10 minutes. That's because I haven't manually removed from the count the block reward for the miner.

[BlindMayorBitcorn]

Ok. I’m ready to switch to GavinCoin now. Is there still time?

[luckygenough56]

where are the TAs ?

[Fatman3001]

where are the TAs ?

Stuck in the mempool

[ChartBuddy]

Coin



Explanation

[brg444]

look at the blocks, all spam.

[marcus_of_augustus]

look at the blocks, all spam.

no-one uses the bitcoin blockchain anymore, it got too crowded.

[Cconvert2G36]

Preach it brothers. Fuggin spammers.

These guise just don't get it. Without Core, Bitcoin will also fail.

[Adrian-x]

the thing is bitcoin won't shrink in size. but it won't grow either. it simply will stay the bonsai size it currently is.

all the money waiting on the sidelines will flow into alt-coins directly.

good luck with your empty bag - so called early adopters of bitcoin.

You don't understand. What's gonna happen is people will transact off-chain, maybe consolidate their paltry txs on pay now buy later Lightning Network, and then pipe dream use Bitcoin as the settlement layer, teh backbone, so to say.

The money will roll right in!

this totally this, I agree with this quote more though  "The free market will win. I just can't tell yet if it means replacing Core or Bitcoin"

[hdbuck]

look at the blocks, all spam.

no-one uses the bitcoin blockchain anymore, it got too crowded.

im waiting for homestead to being soft hard forked.

[hdbuck]

the thing is bitcoin won't shrink in size. but it won't grow either. it simply will stay the bonsai size it currently is.

all the money waiting on the sidelines will flow into alt-coins directly.

good luck with your empty bag - so called early adopters of bitcoin.

You don't understand. What's gonna happen is people will transact off-chain, maybe consolidate their paltry txs on pay now buy later Lightning Network, and then pipe dream use Bitcoin as the settlement layer, teh backbone, so to say.

The money will roll right in!

this totally this, I agree with this quote more though  "The free market will win. I just can't tell yet if it means replacing Core or Bitcoin"

get some mETHereum whilst you can

[gentlemand]

Preach it brothers. Fuggin spammers.

These guise just don't get it. Without Core, Bitcoin will also fail.

I wonder what's happened to that guy. He seems to have had a major funny turn recently. Perhaps a shock from an ASIC scrambled his mind.

[marcus_of_augustus]

Wealth is not linearly distributed but closer to logarithmic with a vast majority of wealth concentrated in a few hands (currently even dangerously so for civic stability considerations), the mainstream is not where wealth is concentrated so for a monetary adoption targeting the mainstream is a losing proposition.

Bitcoin doesn't necessarily need more transactions as much as higher value transactions, the value of a monetary network is not simply the number of connections but the total value of connections, i.e., number * value.

[Adrian-x]

Why fores users onto other competitive systems already this year Alts have grown 6% at the expense of Bitcoin.

Can you show me the transactions these other competitive systems are doing?

I actually tried a block explorer with major altcoins, and their blocks are ghost-towns.

Last 5 blocks (tx count):

litecoin
3-1-1-7-9

dash
3-11-7-9-1

monero
2-1-1-1-1

eth
0-2-0-7-0

btc:
702-1420-2196-2384-2764

as others have pointed out block times are important, and its worth noting most influential Core developers agree that Bitcoin blocks are mostly full of spam.

But Sure it's not going to happen instantly. The market is buying in now in anticipation of the squeeze to come. it's still early high risk but lets see what happens when bitcoin node count drops below 4000 because blocks are full.

If we don't get a block increase before June 2017, I predict that we'll have a node count below 4000 by the end of 2017.

[hdbuck]

Wealth is not linearly distributed but closer to logarithmic with a vast majority of wealth concentrated in a few hands (currently even dangerously so for civic stability considerations), the mainstream is not where wealth is concentrated so for a monetary adoption targeting the mainstream is a losing proposition.

Bitcoin doesn't necessarily need more transactions as much as higher value transactions, the value of a monetary network is not simply the number of connections but the total value of connections, i.e., number * value.

wait so bitcoin does not need more people, just more money?

but what about africa?

[hdbuck]

If we don't get a block increase before June 2017, I predict that we'll have a node count below 4000 by the end of 2017.

mmmnope

https://www.reddit.com/r/Bitcoin/comments/48bvjy/in_may_2015_gavin_calculated_that_blocks_will_be/

[AlexGR]

Preach it brothers. Fuggin spammers.

These guise just don't get it. Without Core, Bitcoin will also fail.

I wonder what's happened to that guy. He seems to have had a major funny turn recently. Perhaps a shock from an ASIC scrambled his mind.

Technically speaking, he is right although all that has happened have created a spin on the events that if we don't include cheap spam in the blockchain then ...bitcoin won't grow... Like bitcoin needs spam growth and not legit tx growth.

There are a lot of actors in the forum, twitters, news etc, proclaiming the fullblockalypse, but the reality of the matter is that there is no fullblockalypse due to the fact that actual blockchain use is low and the rest of the free space is topped off with spam. That's why fees don't rise. If every tx was legitimate, and there was an actual crowding of txs competing for the limited space, fees would have gone through the roof.

Anyway, instead of NACK, he could say "ACK with the condition that default min fees also rise to combat spam".

[Adrian-x]

Wealth is not linearly distributed but closer to logarithmic with a vast majority of wealth concentrated in a few hands (currently even dangerously so for civic stability considerations), the mainstream is not where wealth is concentrated so for a monetary adoption targeting the mainstream is a losing proposition.

Bitcoin doesn't necessarily need more transactions as much as higher value transactions, the value of a monetary network is not simply the number of connections but the total value of connections, i.e., number * value.

your on to something there, now you just need to explain how we do this with a static number and a static value without increasing the block size?