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

[aztecminer]

Looking good, Buyers want ... bitcoins at any price now.  

why ?? bitcoin doesnt scale.. until it is fixed bitcoin investment is a HUGE risk . we know it can and will crash.. we have all seen it happen .. this is stuck in a tight range .. it is not going anywhere above $500 or below $350 for any amount of time.. i can understand owning some bitcoins for the just in case factor .. maybe be in the at least own ten bitcoins club ... but to pretend this is an investment is going out on a limb bigtime . pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

bitcoin does scale!
on the second layer you won't be able to TX without holding BTC's
all the economic TX that will happen on the second layer will necessarily be reflected on BTC's value
on top of that the plan is to make the main chain handle 4X more TX/second within a year
and as internet speeds improve around the world, we will be able to incress block size without any threat to its decentralization
saying bitcoin doesn't scale, is kinda like saying technology won't improve and completely ignoring the second layer solution

until it scales it still doesn't scale.. *TALKING* about how technology will improve bitcoin in the future for MONTHS and MONTHS shows how gimped bitcoin really is .. talking about how your going to do this and your going to do that when you havent done a dam thing in eleven months of talking about it! why cant you get it done ?? whats the hold up ?? that is the best you can do is TALK about what your gonna do .. its like janet yellen tellin us that she can fix the monetary system by negative interest rates which she hasn't done yet . your coin still doesnt scale and until it does it still doesnt regardless of how much trash u talk about how it is going to scale in future cuz bitcoin and internet speeds... internet speed is already fast as hell ... i am about to upgrade to 100M fiber links into this company and your telling me bitcoin not scaling is cuz 100M fiber isnt fast enough for it ??

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[adamstgBit]

...
bitcoin does scale!
...

Why price can't stay up on its own? Why it go all flaccid & droopy when pumping stops?

its volatile not "flaccid & droopy"
its not like we are seeing bitcoin lose value week after week month after month.
value of 1 BTC is roughly the same as 5 months ago, its gone 30% in both directions in that time, but i would say "price can't stay up" it has stayed up.

market is confused by all the FUD about "Bitcoin doesn't scale"

how to scale bitcoin with a 1MB blocklimit

relax. its happening.

[aztecminer]

Wow, what did I miss?

the easter bunny

Isn't easter when something rises from the dead?

jesus you're an idiot

easter is when the bunny come and gives everyone chocolate  

+1 .. and apparently the easter bunny left promises to fix blockchain within...drum roll.. in just one more year! woot!

[JayJuanGee]

And so it goes. Dump and fall. Fuck this shit.

What you're talking about?!
426 on Finex and Stamp also around 425. That's a plus of at least $7 compared to yesterday.
Maybe we will go down to 420 again in the next few hours or days for a test but it looks bullish to me over the long run.
A run to 500 will not happen over night. We will make several small steps forward, then one or two backwards and again a few forward.
That's how I see the coming gaines.

That's exactly how it works......   there is chomping away at walls of coins for sale on the order books, and there removal, movement, placement and replacement of the various walls.

there may be periods of price shooting up, but these days those shooting up periods seem to be more of the exception rather than the rule.

I like to look at bitstamp in order to gauge market sentiment, but surely some people like other exchanges for their own reasons.

Let's say, for example, there are 2000 coins on the order books for sale (asks) between $425 and $435, it could take hours for the price to go up and break through each of the stacking of the coins for sale or minutes.   The walls are being bought out, moved, placed and replaced all the time, and if the price breaks through previous highs, there may be some psychological affect that causes price to go further up because people jump on board, and the opposite is true too, when the price moves downward.... some contagiousness and inability to know exactly.  Surely, if you have 10k coins on an exchange like stamp and you are trading them and feeling the movement, you may have a better sense regarding how to move the market, but those market movers are not too many of them... therefore, we, regular people, just need to continue to prepare for either price direction.

[bargainbin]

...
its volatile not "flaccid & droopy"
its not like we are seeing bitcoin lose value week after week month after month.
value of 1 BTC is roughly the same as 5 months ago ...

I guess. Maybe, if our luck holds, we won't lose much in the next 5 mo either. I remain cautiously optimistic

[adamstgBit]

Wow, what did I miss?

the easter bunny

Isn't easter when something rises from the dead?

jesus you're an idiot

easter is when the bunny come and gives everyone chocolate  

+1 .. and apparently the easter bunny left promises to fix blockchain within...drum roll.. in just one more year! woot!

blockchain doesn't need fixing.

your perception of what the blockchain is needs fixing

[AlexGR]

pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

1. The PM indexes barely move with the amount of money involved in crypto. They are in the multi-trillion marketcap category. Crypto isn't getting any serious money from PMs. Bitcoin's marketcap is like one thousand of what Gold's marketcap is.

2. PMs do not really overlap the online transactions sector. They are just store of value. You can't pay someone over the internet if you have gold in your pocket. You can pay him with bitcoins though. That means that PMs and crypto are complimentary in this sense. Things might have been different with a decentralized e-gold equivalent, but physical ownership and physical transfer is not something that an algorithm can rule.

3. In terms of manipulation, owning Bitcoins is actually a hedge against the ongoing PM manipulation as the mechanisms existing in the gold manipulation 'industry' are not found in bitcoin.

4. Bitcoins are far more scarce than gold and silver. There are ~6 billion ounces of above ground gold and only 15.4 million bitcoins. That's one bitcoin for every 390 ounces. That's now. The future is actually in favor of bitcoin:gold ratio.

5. Gold and silver production is increasing continuously as the methods to extract it are improved and become increasingly mechanized. 100 years ago you had people shoveling ground and now you have excavators and D10's moving ground and ...ripping permafrost. Or people dredging ...the ocean's bottom (soon with robots). Even the places that have been previously "mined" are full of gold. And even the places that are mined today are still left with tons of fine gold that they can't really catch due to most mining operations going for more volume at the expense of recovery rates. The 180ktons of above ground gold will probably double or triple in the next 30-40 years. And when AI comes online to track underground deposits, vein flows, etc etc, or even assume the running of mechanical recovery tasks, you're looking at full blown gold inflation. And I haven't mentioned that most "non-gold bearing grounds" are ....gold bearing with invisible gold. You might pan nothing, but the gold is attached to lower-specific gravity rocks, which, when crushed, will release the gold (typically by resorting to chemicals). When people say "there is no gold here", what they really mean is "I don't see any", or "I'll probably spend more to get it" - both of which are circumstances that change continuously.

6. Even if above ground gold doubles or triples in the mid-term future, it will still preserve its value due to fiat inflating at a much faster pace. However bitcoin will be inflating at a much lower pace than both, hence being an adequate store of value, which also has good upside potential (gold's marketcap can't go 10x to 70+ trillion range with ease, unlike bitcoin which can hit 4k usd and do a 10x).

7. What PMs have in their favor is that they are much safer than crypto (excluding scam PM purchases). Nobody will fork, hack or 51% one's gold. And they are good for countries with high devaluation rates where the average man can convert local currency to PMs to prevent erosion to his savings.

[aztecminer]

And so it goes. Dump and fall. Fuck this shit.

What you're talking about?!
426 on Finex and Stamp also around 425. That's a plus of at least $7 compared to yesterday.
Maybe we will go down to 420 again in the next few hours or days for a test but it looks bullish to me over the long run.
A run to 500 will not happen over night. We will make several small steps forward, then one or two backwards and again a few forward.
That's how I see the coming gaines.

We were at $430, now its down to $423. I call that a dump. Since there is still no consensus on block size, and headless chickens running the show, we have not reached a point of take off. This pump is just a bull trap. Shorters are going to short, Bulls going long. The game is still the same. I hold, an "gamble" a bit on alts. No new money coming in. We need to get moving and get consensus on the block size. The technology needs to be healthy.

did it ever occur to you that the health of bitcoin is being kept un-healthy purposely ?? i mean really... how the hell does it take *ELEVEN MONTHS* to code a fix, even a temporary one, into bitcoin ?? bitcoin is in limbo right now .. they wont fix it cuz if they do the price will rocket.. they are keepin it pumped so it doesnt crash from the fact that they aren't doing anything, other than *ALL TALK* about what they gonna do .. funny how last year we were to expect a fix with a few months, now eleven months later they saying we might see a fix within a year. we should believe them now like we believed them eleven months ago ?? it was a holiday pump, u shoulda known to dump for the quick easter bunny profits.

[aztecminer]

pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

1. The PM indexes barely move with the amount of money involved in crypto. They are in the multi-trillion marketcap category. Crypto isn't getting any serious money from PMs. Bitcoin's marketcap is like one thousand of what Gold's marketcap is.

2. PMs do not really overlap the online transactions sector. They are just store of value. You can't pay someone over the internet if you have gold in your pocket. You can pay him with bitcoins though. That means that PMs and crypto are complimentary in this sense. Things might have been different with a decentralized e-gold equivalent, but physical ownership and physical transfer is not something that an algorithm can rule.

3. In terms of manipulation, owning Bitcoins is actually a hedge against the ongoing PM manipulation as the mechanisms existing in the gold manipulation 'industry' are not found in bitcoin.

4. Bitcoins are far more scarce than gold and silver. There are ~6 billion ounces of above ground gold and only 15.4 million bitcoins. That's one bitcoin for every 390 ounces. That's now. The future is actually in favor of bitcoin:gold ratio.

5. Gold and silver production is increasing continuously as the methods to extract it are improved and become increasingly mechanized. 100 years ago you had people shoveling ground and now you have excavators and D10's moving ground and ...ripping permafrost. Or people dredging ...the ocean's bottom (soon with robots). Even the places that have been previously "mined" are full of gold. And even the places that are mined today are still left with tons of fine gold that they can't really catch due to most mining operations going for more volume at the expense of recovery rates. The 180ktons of above ground gold will probably double or triple in the next 30-40 years. And when AI comes online to track underground deposits, vein flows, etc etc, or even assume the running of mechanical recovery tasks, you're looking at full blown gold inflation. And I haven't mentioned that most "non-gold bearing grounds" are ....gold bearing with invisible gold. You might pan nothing, but the gold is attached to lower-specific gravity rocks, which, when crushed, will release the gold (typically by resorting to chemicals). When people say "there is no gold here", what they really mean is "I don't see any", or "I'll probably spend more to get it" - both of which are circumstances that change continuously.

6. Even if above ground gold doubles or triples in the mid-term future, it will still preserve its value due to fiat inflating at a much faster pace. However bitcoin will be inflating at a much lower pace than both, hence being an adequate store of value, which also has good upside potential (gold's marketcap can't go 10x to 70+ trillion range with ease, unlike bitcoin which can hit 4k usd and do a 10x).

7. What PMs have in their favor is that they are much safer than crypto (excluding scam PM purchases). Nobody will fork, hack or 51% one's gold. And they are good for countries with high devaluation rates where the average man can convert local currency to PMs to prevent erosion to his savings.

i wrote this in september 2015:


BITCOIN PROBLEMS:

1. bitcoin has not been straightforward about the bitcoin cap of there only ever being 21 million bitcoins ever produced. bitcoin will eventually be forced to raise this cap beyond 21 million simply because people forget their encryption keys and therefore bitcoins are lost. maybe a person has a cold storage wallet full of bitcoins and he suddenly dies. those coins are gone forever.

2. security with bitcoin is gimped. many users lose their bitcoins thru theft hacks via malware on their pcs. this happens ALL THE TIME to mostly newbs who do not know how to properly secure their bitcoins via cold storage.  once the coins leave the users wallet via a malware hack the coins are simply gone. no one ever gets caught. the police are unable to do anything about it.

3. users bitcoins have been lost due to exchanges being hacked. it has happened multiple times and once again no one ever gets caught. what goes on is that when bitcoins are kept properly secure by the exchange then they cannot be hacked... or at least they are harder to be hacked.. either way exchanges have been hacked and when the bitcoins disappear they are simply gone. the users lose with no refund of any kind.

4. then there is the blockchain.. this thing is HUGE.. it can take anywhere from hours to download to days to download depending on how good of a pc a person has. if bitcoin becomes more mainstream users will require hard drive space to maintain this blockchain if they wish to keep their coins in their own wallets. of course if the hard drive fails or the user needs an OS reload or a new pc the blockchain must be re-downloaded.

5. some people believe that bitcoin is going to be a replacement reserve currency. imagine the entire economic foundation and infrastructure of a state vulnerable to power outages.. the power goes out and no one can buy anything period until power is restored. this is a huge weakness for bitcoin and is in my opinion a major reason why bitcoin will never be a replacement reserve currency for countries throughout the world.

6. what if a person doesnt have a pc or a cell phone?? they cannot buy anything.

7. bitcoin has NO PRIVACY... this makes it unconstitutional. EVERY transaction is recorded in the blockchain and can be traced. some of the more advanced bitcoin users watch stolen coins move from wallet to wallet all the time.. maybe watching for stolen coins moving is beneficial but clearly bitcoin is like an NSA spyware app.

8. and now more recently new problems have been emerging. "BLOCKCHAIN BLACKLISTS" are the table to be coded into bitcoin in the near future. really the code already exists in the form of what is called BitcoinXT.. the plan if users reach a consensus is that it will be implemented via a hard fork early next year. this blacklist will allow developers to ban any ip address. i believe this is only the beginning of this code once implemented. i believe they will eventually expand this code to act as a form of sanctions that can be used against any wallet address of people, companies, and even states. imagine how this technology would be used to intimidate people ?? the two developers who have written this code are rumored to be connected with the CIA since one of them admitted on twitter that he had visited with the CIA after taking over core development from satoshi.

9. the "BLOCKCHAIN BLACKLISTS" came about due to a scalability issue with bitcoin. if bitcoins bandwidth is not expanded past the 1mb block which allows only 7 transaction per second then bitcoin will become crippled sometime next year. the BitcoinXT developers are using this scalability issue to claim bitcoin needs the "BLOCKCHAIN BLACKLISTS" technology because currently a spammer hacker can completely flood the 1MB blocks thus making it harder for users to send bitcoins through the blockchain.

10. another set of developers came up with another solution to the scalability problem. they are planning to allow the miners to vote the size of the blocks for bitcoin. this means that the bigger miner companies will be able to "cripple" bitcoin in an effort to cause the fees to transmit bitcoins through the network to rise. these fees are paid to the miners for their work maintaining the blockchain. therefore we can see how the miners controlling the size of blocks being transmitted through the network will profit by crippling the bandwidth. of course that is a very bad idea and therefore what is the other choice ?? the other choice is "BLOCKCHAIN BLACKLISTS" ..

11. another problem is insider trading at exchanges.. there have been some really strange incidents happen at some of the leverage exchanges. there are rumors that owners of these exchanges trade against their users causing their margins to be called resulting in their own profits.. and then there are problems where exchanges claim they have technical problems. we have seen these technical problems happen and then suddenly the exchange needs to make adjustments to users balances. sometimes users are brought into negative by these glitches. and sometimes the glitches do not allow users to withdraw their money or bitcoins from the exchange. my opinion is that if an exchange does not have these technical problems then it will not have to stop trading, stop withdrawals, and make balance adjustments. these exchanges showing these kinds of problems are the leveraged trading exchanges.

[JayJuanGee]

And so it goes. Dump and fall. Fuck this shit.

What you're talking about?!
426 on Finex and Stamp also around 425. That's a plus of at least $7 compared to yesterday.
Maybe we will go down to 420 again in the next few hours or days for a test but it looks bullish to me over the long run.
A run to 500 will not happen over night. We will make several small steps forward, then one or two backwards and again a few forward.
That's how I see the coming gaines.

We were at $430, now its down to $423. I call that a dump. Since there is still no consensus on block size, and headless chickens running the show, we have not reached a point of take off. This pump is just a bull trap. Shorters are going to short, Bulls going long. The game is still the same. I hold, an "gamble" a bit on alts. No new money coming in. We need to get moving and get consensus on the block size. The technology needs to be healthy.

Good luck with your various alt investments.  You may get lucky or you may get rekt... hahahahaha..

At this time, Bitcoin is very technically healthy, and lot's of great technical improvements on the horizon... including the BIG ONE... Seg Wit.     In the mean time, keep accumulating some "cheap coins"  that is bitcoins.

I feel pretty good about yesterday's "pump and dump".. and today the price could go further up or down...

Yesterday, because prices had been stagnant for nearly 6 days, I had sold a little at $417 and then went to sleep, then my bitcoin price alarm woke me at $419.50.  By the time I got my ass moving, the price was already going on $421.  I waited a bit, and I wanted to get back to sleep at some point.  I sold a little at $425 and set my alarm for $429, and then went back to sleep.  While I was sleeping, the price went up to $427.99 and by the time I woke back up it was around $426.50..  I sold a little more at $426.50.    Thereafter, in the past 24 hours, I have been using some of the proceeds from my sales at $425 and $426.50 to buy back some on the dips (while saving some of those proceeds in the event that prices return to $415-ish. Yesterday, I bought some at $423.50 and bought some at $421.50 .   

Anyhow, these little ups and downs can be good for your bitcoin portfolio as long as you are able to prepare and even take advantage of some of the difficult to predict price movements...  Maybe you do not make a lot of money in these little trades, but the trades can make you feel a bit better overall and to be less stressed to experience the ups and downs as a way to accumulate some more bitcoin or to cash out a little in preparation for future potential downward price movements.



 

[adamstgBit]

aztecminer we've heard all this shit before, countless times....

you're talking nonsense and you know it.

[aztecminer]

pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

1. The PM indexes barely move with the amount of money involved in crypto. They are in the multi-trillion marketcap category. Crypto isn't getting any serious money from PMs. Bitcoin's marketcap is like one thousand of what Gold's marketcap is.

2. PMs do not really overlap the online transactions sector. They are just store of value. You can't pay someone over the internet if you have gold in your pocket. You can pay him with bitcoins though. That means that PMs and crypto are complimentary in this sense. Things might have been different with a decentralized e-gold equivalent, but physical ownership and physical transfer is not something that an algorithm can rule.

3. In terms of manipulation, owning Bitcoins is actually a hedge against the ongoing PM manipulation as the mechanisms existing in the gold manipulation 'industry' are not found in bitcoin.

4. Bitcoins are far more scarce than gold and silver. There are ~6 billion ounces of above ground gold and only 15.4 million bitcoins. That's one bitcoin for every 390 ounces. That's now. The future is actually in favor of bitcoin:gold ratio.

5. Gold and silver production is increasing continuously as the methods to extract it are improved and become increasingly mechanized. 100 years ago you had people shoveling ground and now you have excavators and D10's moving ground and ...ripping permafrost. Or people dredging ...the ocean's bottom (soon with robots). Even the places that have been previously "mined" are full of gold. And even the places that are mined today are still left with tons of fine gold that they can't really catch due to most mining operations going for more volume at the expense of recovery rates. The 180ktons of above ground gold will probably double or triple in the next 30-40 years. And when AI comes online to track underground deposits, vein flows, etc etc, or even assume the running of mechanical recovery tasks, you're looking at full blown gold inflation. And I haven't mentioned that most "non-gold bearing grounds" are ....gold bearing with invisible gold. You might pan nothing, but the gold is attached to lower-specific gravity rocks, which, when crushed, will release the gold (typically by resorting to chemicals). When people say "there is no gold here", what they really mean is "I don't see any", or "I'll probably spend more to get it" - both of which are circumstances that change continuously.

6. Even if above ground gold doubles or triples in the mid-term future, it will still preserve its value due to fiat inflating at a much faster pace. However bitcoin will be inflating at a much lower pace than both, hence being an adequate store of value, which also has good upside potential (gold's marketcap can't go 10x to 70+ trillion range with ease, unlike bitcoin which can hit 4k usd and do a 10x).

7. What PMs have in their favor is that they are much safer than crypto (excluding scam PM purchases). Nobody will fork, hack or 51% one's gold. And they are good for countries with high devaluation rates where the average man can convert local currency to PMs to prevent erosion to his savings.

if i were to buy pms would be because i believe that the "in god we trust" for the federal reserve to print money and manipulate markets to continue to maintain the failing 'interest to infinity' debt slavery system is *FAILING* .. i believe that pms will stay in a tight range until the reset happens. when pms make their move, it will be when the banks close and you can't buy any... i think pms will reset multiples higher compared with the value of the new replacement us currency to replace the failed usd reserve currency .. countries and central banks are hording pms, and they are not hoarding bitcoins. countries, like china for example, are looking to make their own crypto-currencies . if your investments are not in preparation for the collapse, then your going to lose a whole lot of wealth . silver to gold ratio has histoircally been 15 to 1.. while now is some crazy 80 - 1 ratio .. this all happened while obama has occupied the white house .

[ahpku]

aztecminer we've heard all this shit before, countless times....

you're talking nonsense and you know it.

Yeah but...

Lowered Expectations



~ time passes ~

That guy was off by 400 bux, Bitcoin experts off BY MORE THAN $9,500

[JayJuanGee]

Looking good, Buyers want ... bitcoins at any price now.  

[http://imagizer.imageshack.us/a/img923/5459/RKxIax.png[/img]

why ?? bitcoin doesnt scale.. until it is fixed bitcoin investment is a HUGE risk . we know it can and will crash.. we have all seen it happen .. this is stuck in a tight range .. it is not going anywhere above $500 or below $350 for any amount of time.. i can understand owning some bitcoins for the just in case factor .. maybe be in the at least own ten bitcoins club ... but to pretend this is an investment is going out on a limb bigtime . pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

bitcoin does scale!
on the second layer you won't be able to TX without holding BTC's
all the economic TX that will happen on the second layer will necessarily be reflected on BTC's value
on top of that the plan is to make the main chain handle 4X more TX/second within a year
and as internet speeds improve around the world, we will be able to incress block size without any threat to its decentralization
saying bitcoin doesn't scale, is kinda like saying technology won't improve and completely ignoring the second layer solution

 


Look at you, Adam.... coming out of your negative nancy spell....

 


Lot's of great things going on in bitcoin right now, and seeming pretty likely that this hardfork nonsense is not going to happen.... In the end, we are going to go forward with a multitude of softforks... and surely, there are going to be ongoing threats of hardforks, but we do not want willy nilly hard forks.. we do not want small groups coming into bitcoin and trying to do whatever the fuck they want with it.....

Sooner or later, people are going to realize that bitcoin is in a very good place.. ... but it could still take several months, and maybe even a year to be reflected in Bitcoin's price.

[adamstgBit]

aztecminer we've heard all this shit before, countless times....

you're talking nonsense and you know it.

Yeah but...

Lowered Expectations



~ time passes ~

That guy was off by 400 bux, Bitcoin experts off BY MORE THAN $9,500

everyone was wrong in 2014 everyone is wrong in 2016 and everyone will be wrong in 2017

[JayJuanGee]

...
bitcoin does scale!
...

Why price can't stay up on its own? Why it go all flaccid & droopy when pumping stops?

Bitcoin is hardly flaccid and droopy.

In early November 2015, we got a pump to $502... however, BTC prices have been largely between $360 and $460 thereafter.  I would hardly call those price dynamics flaccid and droopy.. instead I would call that "in a pretty decent place."


Yeah, sure, BTC prices may go back into the $300s and maybe even there could be another attempt at going below $350... but it is seeming less and less likely and more and more difficult to bring bitcoin below those seemingly firm price points.. There have been attempts to bring BTC prices below $400 in the past month, and even that has been seemingly difficult.. I would hardly call that flaccid and droopy.

In other words, BTC prices got pushed up to $502 and has stayed pretty resilient in the past about 5 months.  Looking good.

[aztecminer]

Looking good, Buyers want ... bitcoins at any price now.  

[http://imagizer.imageshack.us/a/img923/5459/RKxIax.png[/img]

why ?? bitcoin doesnt scale.. until it is fixed bitcoin investment is a HUGE risk . we know it can and will crash.. we have all seen it happen .. this is stuck in a tight range .. it is not going anywhere above $500 or below $350 for any amount of time.. i can understand owning some bitcoins for the just in case factor .. maybe be in the at least own ten bitcoins club ... but to pretend this is an investment is going out on a limb bigtime . pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

bitcoin does scale!
on the second layer you won't be able to TX without holding BTC's
all the economic TX that will happen on the second layer will necessarily be reflected on BTC's value
on top of that the plan is to make the main chain handle 4X more TX/second within a year
and as internet speeds improve around the world, we will be able to incress block size without any threat to its decentralization
saying bitcoin doesn't scale, is kinda like saying technology won't improve and completely ignoring the second layer solution

 


Look at you, Adam.... coming out of your negative nancy spell....

 


Lot's of great things going on in bitcoin right now, and seeming pretty likely that this hardfork nonsense is not going to happen.... In the end, we are going to go forward with a multitude of softforks... and surely, there are going to be ongoing threats of hardforks, but we do not want willy nilly hard forks.. we do not want small groups coming into bitcoin and trying to do whatever the fuck they want with it.....

Sooner or later, people are going to realize that bitcoin is in a very good place.. ... but it could still take several months, and maybe even a year to be reflected in Bitcoin's price.

yeah adam.. good things is happenin w bitcoin.. u might can make a profit buying bitcoins at $421 and selling at $423 before it drops again. u will have to set your bitcoin alarm though .

[adamstgBit]

Looking good, Buyers want ... bitcoins at any price now.  

[http://imagizer.imageshack.us/a/img923/5459/RKxIax.png[/img]

why ?? bitcoin doesnt scale.. until it is fixed bitcoin investment is a HUGE risk . we know it can and will crash.. we have all seen it happen .. this is stuck in a tight range .. it is not going anywhere above $500 or below $350 for any amount of time.. i can understand owning some bitcoins for the just in case factor .. maybe be in the at least own ten bitcoins club ... but to pretend this is an investment is going out on a limb bigtime . pms is where the buy is cuz they are artificially manipulated lower, while bitcoins is artificially manipulated higher .. there is reasons for the manipulation and is is doubtful good for us .

bitcoin does scale!
on the second layer you won't be able to TX without holding BTC's
all the economic TX that will happen on the second layer will necessarily be reflected on BTC's value
on top of that the plan is to make the main chain handle 4X more TX/second within a year
and as internet speeds improve around the world, we will be able to incress block size without any threat to its decentralization
saying bitcoin doesn't scale, is kinda like saying technology won't improve and completely ignoring the second layer solution

 


Look at you, Adam.... coming out of your negative nancy spell....

 


Lot's of great things going on in bitcoin right now, and seeming pretty likely that this hardfork nonsense is not going to happen.... In the end, we are going to go forward with a multitude of softforks... and surely, there are going to be ongoing threats of hardforks, but we do not want willy nilly hard forks.. we do not want small groups coming into bitcoin and trying to do whatever the fuck they want with it.....

Sooner or later, people are going to realize that bitcoin is in a very good place.. ... but it could still take several months, and maybe even a year to be reflected in Bitcoin's price.

i believe bitcoin can scale either way, larger blocks and second layer.
and it will probably come to that, in the future blocks will be bigger and the second layer will be available too

[AlexGR]

until it scales it still doesn't scale.. *TALKING* about how technology will improve bitcoin in the future for MONTHS and MONTHS shows how gimped bitcoin really is .. talking about how your going to do this and your going to do that when you havent done a dam thing in eleven months of talking about it! why cant you get it done ?? whats the hold up ?? that is the best you can do is TALK about what your gonna do .. its like janet yellen tellin us that she can fix the monetary system by negative interest rates which she hasn't done yet . your coin still doesnt scale and until it does it still doesnt regardless of how much trash u talk about how it is going to scale in future cuz bitcoin and internet speeds... internet speed is already fast as hell ... i am about to upgrade to 100M fiber links into this company and your telling me bitcoin not scaling is cuz 100M fiber isnt fast enough for it ??

The equivalent is that a 100 Mbps fiber link would be useless without a large TCP window*.

Nobody said the internet won't scale because it can't do proper scaling with many "transactions" of small packets (there are serious problems with round-trip delay) and only scales due to less "transactions" of much bigger packets. They just raised the value of the payload and that was it. If you try to manually set it to something like 100 bytes, you'll see some funny speeds of a few mbps at most - because your capacity is wasted through inefficiency.

Bitcoin can currently do around 100mn transactions per year (~270k per day x 365).

Bitcoin can move around 100mn $ per year if its every transaction has an average value / payload of 1$.
Bitcoin can move around 100bn $ per year if its every transaction has an average value / payload of 1000$.
Bitcoin can move around 1 trn $ per year if its every transaction has an average value / payload of 10000$.

How you use the network counts greatly in how much money you can move around.


* https://en.wikipedia.org/wiki/TCP_window_scale_option

(I haven't yet read the 11-part post), will get back to you on that.

edit: Just read it. Well you have fundamental issues with bitcoin. Your problem is not scaling. Your problem is everything bitcoin-related. Oh it's unsafe for the noob. Oh it's capped at 21mn coins. Oh it doesn't have much privacy... oh this, oh that. Well, no reason to argue about all these.

[aztecminer]

...
bitcoin does scale!
...

Why price can't stay up on its own? Why it go all flaccid & droopy when pumping stops?

Bitcoin is hardly flaccid and droopy.

In early November 2015, we got a pump to $502... however, BTC prices have been largely between $360 and $460 thereafter.  I would hardly call those price dynamics flaccid and droopy.. instead I would call that "in a pretty decent place."


Yeah, sure, BTC prices may go back into the $300s and maybe even there could be another attempt at going below $350... but it is seeming less and less likely and more and more difficult to bring bitcoin below those seemingly firm price points.. There have been attempts to bring BTC prices below $400 in the past month, and even that has been seemingly difficult.. I would hardly call that flaccid and droopy.

In other words, BTC prices got pushed up to $502 and has stayed pretty resilient in the past about 5 months.  Looking good.

Marshal's Auction Pump of 2015.....