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

[ChartBuddy]

Coin



Explanation

[1714846160]

1714846160

[1714846160]

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[1714846160]

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[1714846160]

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[Adrian-x]

Surely, there may be some more spam/ddos attacks on the bitcoin network in the coming days that could return bitcoin transactions to peaking at 90% or possibly more, but so far, the blockchain seems to have been handling such attacks pretty well

All is working as Satoshi said:

I am not claiming that the network is impervious to DoS attack.  I think most P2P networks can be DoS attacked in numerous ways.  (On a side note, I read that the record companies would like to DoS all the file sharing networks, but they don't want to break the anti-hacking/anti-abuse laws.)

If we started getting DoS attacked with loads of wasted transactions back and forth, you would need to start paying a 0.01 minimum transaction fee.

...although the min fee is much lower nowadays. But the essence is the same. If there was no abusing of the network we could be sending coins for free right now due to the max blocksize being more than accommodating for our genuine transaction needs.

Zero cost txs / near zero cost txs => bring zero-cost abuse or near-zero cost abuse.

When that happens => cost to transact increases to bypass the abuser's queue.

on the day of the satoshi quote: 1BCT = $0.07

a 0.01BTC fee on that day, cost adjusted for today value is $0.0007

[AlexGR]

Surely, there may be some more spam/ddos attacks on the bitcoin network in the coming days that could return bitcoin transactions to peaking at 90% or possibly more, but so far, the blockchain seems to have been handling such attacks pretty well

All is working as Satoshi said:

I am not claiming that the network is impervious to DoS attack.  I think most P2P networks can be DoS attacked in numerous ways.  (On a side note, I read that the record companies would like to DoS all the file sharing networks, but they don't want to break the anti-hacking/anti-abuse laws.)

If we started getting DoS attacked with loads of wasted transactions back and forth, you would need to start paying a 0.01 minimum transaction fee.

...although the min fee is much lower nowadays. But the essence is the same. If there was no abusing of the network we could be sending coins for free right now due to the max blocksize being more than accommodating for our genuine transaction needs.

Zero cost txs / near zero cost txs => bring zero-cost abuse or near-zero cost abuse.

When that happens => cost to transact increases to bypass the abuser's queue.

on the day of the satoshi quote: 1BCT = $0.07

a 0.01BTC fee on that day, cost adjusted for today value is $0.0007

Yes, it was enough to pay anything above zero back then, because spamming was done at zero cost.

Now spamming is ranging from zero to near-zero cost (0-1 cents, 2 at most), so you need to pay an extra cent or two compared to the spammer.

The principle is the same, regardless of price. You outbid the spammer and transact as usual.

[2015Bubble]

huobi going uppish?
but but ..
ETH not going down ?
Kinda interesting point.

[ChartBuddy]

Coin



Explanation

[ahpku]

50 minutes since last block sucks if you are waiting for a transaction  

hodlers still not affected tho

...

The Awakening Conscience by William Holman Hunt

[Andre#]

Bitcoin looking healthy again.

Yes, and blocks are still maxxed out.

The blocks are hardly maxed out ----- unless you are just making up shit in order to attempt to exaggerate some problem that is not even close to what the loud mouth FUDsters are attempting to portray.


Blocks floating around 65% at the moment... ... but they had  experienced some peaks approaching 90% in recent days (within the past week)

At the time of writing, these were the latest blocks.

401423: 0 MB
401422: 976.48 MB
401421: 974.79 MB
401420: 974.77 MB
401419: 906.65 MB
401418: 0 MB
401417: 974.64 MB
401416: 912.66 MB
401415: 976.45 MB
401414: 974.72 MB
401413: 965.86 MB
401412: 974.55 MB
401411: 974.74 MB

Looks pretty maxed out to me (with thousands tx waiting in tradeblock's mempool). I guess I must be making it up, then.

BTW, you also could have looked at ChartBuddy.

Explanation

Explanation

Explanation

ChartBuddy knows his shit -- I'm only making it up.

I've cited my sources as blockchain.info charts, and you cited your sources as chartbuddy?  If someone could explain why blockchain.info is lacking in credibility, then that may be helpful.  I really do not understand the significance of chartbuddy because I put through several transactions during supposed congested periods last week, and my experiences reflected those described in blockchain.info, which was relatively quick confirmations and finalization of transactions (in spite claims of fulblocalypse).

So, yeah, I don't think that these various claims of fullblocks really materialize into real world problems, and yes, I think that the blockchain is suffering from various spam/ddos attacks yet is still functioning pretty fucking well in spite of attempts to make it seem full and in spite of attempts to describe some kind of supposed tragedy in the alleged clogged up nature of the blockchain.

Those list of block sizes, I actually got them from blockchain.info as well. So I don't think that blockchain.info lacks credibility. I don't know about the average block sizes chart, though. The chart says the all time high was 876 B, which doesn't tell the whole story regarding block fullness if empty blocks and soft limited blocks are counted as well.

Of course, the "real world problems" of delayed transactions can be solved for a big part once all people are properly trained to guess the right fee, and wallets are updated to make as good a fee advise as possible. And sooner or later the use cases which require cheap transactions will be dropped. And all will be fine.

I just hope it doesn't come to that. I don't want Bitcoin's growth to stop. It seems we differ in that wish, and that's fine. Time will tell which crypto can deliver the desired volume, and how.

[ChartBuddy]

Coin



Explanation

[Fatman3001]

50 minutes since last block sucks if you are waiting for a transaction  

hodlers still not affected tho

...

The Awakening Conscience by William Holman Hunt

You put way too much effort into that stuff. It's kinda creepy.

[ImI]

50 minutes since last block sucks if you are waiting for a transaction  

hodlers still not affected tho

...

The Awakening Conscience by William Holman Hunt

You put way too much effort into that stuff. It's kinda creepy.

this gif makes kinda horny....

[Fatman3001]

50 minutes since last block sucks if you are waiting for a transaction  

hodlers still not affected tho

...

The Awakening Conscience by William Holman Hunt

You put way too much effort into that stuff. It's kinda creepy.

this gif makes kinda horny....

[adamstgBit]

[adamstgBit]

I shall not give into temptation.

[adamstgBit]

Sandra, is a life size Robo-sex-Doll you can buy for a remarkably  affordable price of 250BTC

Damn look at her!

[adamstgBit]

mods are going to delete this in About 20mins 

[ahpku]

...
You put way too much effort into that stuff. It's kinda creepy.

0 skill, <5 mins, ~8 frames, no drawing (other then "you"), the coin already saved as .png from previous masterpieces (like below).
Just click through frame-by-frame and drag things around with mouse



@adam: Your waifus are trash. Get on my level



P.S. How's your vacation going, landlord? Started yet?

[adamstgBit]

...
You put way too much effort into that stuff. It's kinda creepy.

0 skill, <5 mins, ~8 frames, no drawing (other then "you"), the coin already saved as .png from previous masterpieces (like below).
Just click through frame-by-frame and drag things around with mouse



@adam: Your waifus are trash. Get on my level



P.S. How's your vacation going, landlord? Started yet?

lol
my vacation was 2 nights...

[billyjoeallen]

Zero cost abuse is an economic problem if it is a problem at all and not a security problem. It's like stores giving out free samples. Sure, some customers may abuse it, but others get introduced to a product they may not otherwise buy. It's up to the individual store owners to make the best policy on free samples, not the government.

In our case, it should be up to the miners and not Core to decide how many free transactions to include.

Same argument applies to loss leaders and near zero free transactions. Miners may figure this out eventually, but in the mean time volatility and profits to the smart and the lucky.

[ChartBuddy]

Coin



Explanation

[Dotto]

This has been one of the best BTC shakeouts ive seen this yr...4months before halving...things are getting very interesting.

Let me paraphrase what you really meant to say in your above post.


"I'm here posting in the BTC/USD wall observer thread in order to wank off regarding my lil alt coin friend."


     

eh,lol   dunoo wot u talkin about m8.
Ok i mean...if someone wants alot of btc and market isnt dumpin...lets get them to trade for a coin thats been pumped x12 in 2months, and then dump on them too take at least half the BTC of them...alot of strong handed BTC players have been buyin another coin at its ath..those guys maybe in for a rude awaking.
Also this core/classic/seg/blkstream blah blah might do nothing at all and the BTC halving kicks in...
Finally i firmly believe BTC will have another ATH before halving.

Mostly agree but the ATH before halving sounds kind of optimistic, dont you think?. It not that I wouldn´t love that, but I cant see it happening currently