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

[DaRude]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

Stop with your math gibberish, if i just close my eyes and believe it really really hard i know that it'll be true

[luckygenough56]

soon eth blockchain will reach critical mass and collapses into a blackhole

Earth is done guys


Meanwhile, still not a single eth dapp 10 months after launch ahahahahaha.

But...it's all theorical John !

[Lutzow]

soon eth blockchain will reach critical mass and collapses into a blackhole

Earth is done guys


Meanwhile, still not a single eth dapp 10 months after launch ahahahahaha.

But...it's all theorical John !

We all know that ETH is a major P&D coin at least for now until they actually produce something good out of it.

[Chocapic]

soon eth blockchain will reach critical mass and collapses into a blackhole

Earth is done guys


Meanwhile, still not a single eth dapp 10 months after launch ahahahahaha.

But...it's all theorical John !

Isn't there an Ethereum Dapp that unlocks a lock with the Ethereum computer ?
Because, you know, a key is too simple and we need a blockchain solution

[Fatman3001]

https://steemit.com/crypto-news/@kingjohal/lisk--dont-panic--stop-listening-to-fud

Did you miss the opportunity to dump at 0.003 yesterday?

BAAAAAAHAAAAAHAAAAAAA!!!!!

[Fatman3001]

Ok, you Bunch of Degenerates!!!

The CHOO CHOO is coming!!!

GET READY!!!!




BAAAAAAAAAAAAAAAAAAAAAAAHHHHH!!!!!!!

[Elwar]

soon eth blockchain will reach critical mass and collapses into a blackhole

Earth is done guys


Meanwhile, still not a single eth dapp 10 months after launch ahahahahaha.

But...it's all theorical John !

Isn't there an Ethereum Dapp that unlocks a lock with the Ethereum computer ?
Because, you know, a key is too simple and we need a blockchain solution

Someone did that with Bitcoin years ago.

[Elwar]

Bitcoin Getting Smarter Smart Contracts Than Ethereum By Year’s End

https://bitconnect.co/bitcoin-news/172/bitcoin-getting-smarter-smart-contracts-than-ethereum/

“Rootstock provides Bitcoin miners (the most important, tested and secure mining network worldwide) the opportunity to participate in the smart contract revolution receiving a new revenue stream with their current hardware and electricity consumption. Rootstock also benefits the Bitcoin ecosystem by using bitcoins as fuel to run Rootstock smart contracts. Finally, Rootstock provides Ethereum projects and developers a fully compatible alternative to run their solutions, benefitting from the security of the Bitcoin network.”


So basically...any Ethereum Dapp will be able to run on Bitcoin's network. Eliminating the need to use ethereums.

[JayJuanGee]

we've got some upwards action.. mid $450s? first? then?  correction?  or mid $460s?  Cannot really know... for sure, but I get the sense that we could be getting ready to test $470 again.

[DaRude]

There...goes...3000 on whoboi followed by $450 on fines ... oh wait few minutes too soon

[BldSwtTrs]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

VC and price speculator think ahead and they don't like what they see.

Currently block space is perfectly inelastic, that's scary. In due time, this will cause a dramatic rise in fees and delays, and a decrease in demand. That's how the market deal with shortage: prices, delays and lowering of the demand.

Already see a shop in a communist country? Well the same will happen in Bitcoin.

The future is bleak. Everyone with an economic focused brain understand that. Meanwhile small blockists congratulated themselves because fees are low today.

[AlexGR]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

[BldSwtTrs]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

So why the price is stagnating and VC investment is decreasing? Sure you computer geeks folks are cleverer than all the economic minded people on the planet.

Small blockists are playing with fire with complexities they don't understand, as every little central planers who think too much of themselves.

You will learn what perfectly inelastic supply means the hard way. That's not going to be pretty.

[DaRude]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

VC and price speculator think ahead and they don't like what they see.

Currently block space is perfectly inelastic, that's scary. In due time, this will cause a dramatic rise in fees and delays, and a decrease in demand. That's how the market deal with shortage: prices, delays and lowering of the demand.

Already see a shop in a communist country? Well the same will happen in Bitcoin.

The future is bleak. Everyone with an economic focused brain understand that. Meanwhile small blockists congratulated themselves because fees are low today.

What's important is to keep it as decentralized as possible without F'ing up. The true use case is still pretty low and adoption has slowed a bit. Segwit and 2mb fork are in the works, even if we have an explosive natural growth next few months worst case i'm willing to pay $0.06 for a transaction instead of $0.03 when the blocks get crowded

[JayJuanGee]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really?

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented. 

The assertion of  emergency has been exaggerated.

[BldSwtTrs]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really?

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.  

The assertion of  emergency has been exaggerated.

"quasi abstract"

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

[BldSwtTrs]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

VC and price speculator think ahead and they don't like what they see.

Currently block space is perfectly inelastic, that's scary. In due time, this will cause a dramatic rise in fees and delays, and a decrease in demand. That's how the market deal with shortage: prices, delays and lowering of the demand.

Already see a shop in a communist country? Well the same will happen in Bitcoin.

The future is bleak. Everyone with an economic focused brain understand that. Meanwhile small blockists congratulated themselves because fees are low today.

What's important is to keep it as decentralized as possible without F'ing up. The true use case is still pretty low and adoption has slowed a bit. Segwit and 2mb fork are in the works, even if we have an explosive natural growth next few months worst case i'm willing to pay $0.06 for a transaction instead of $0.03 when the blocks get crowded

On what data relies your assumption that an increase in blocksize will decrease decentralization?

Why decentralization is more important than network survival?

Why do you think you will be able to defeat an economic shortage by paying more?

So much question that you won't be able too answer.

[DaRude]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really?

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.  

The assertion of  emergency has been exaggerated.

"quasi abstract"

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

Gee lets see technological fuck up could be catastrophic on a $6B market, but sure lets rush it in to solve that non yet existing problem that may potentially come a bit sooner than expected through this explosive organic growth in next few months, and make everyone pay few cents more  

[BldSwtTrs]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really?

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.  

The assertion of  emergency has been exaggerated.

"quasi abstract"

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

Gee lets see technological fuck up could be catastrophic on a $6B market, but sure lets rush it in to solve that non yet existing problem that may potentially come a bit sooner than expected through this explosive organic growth in next few months, and make everyone pay few cents more  

Technological fuck up?

2MB increase is safer than SegWit (way less complexities).

On the contrary an economic fuck up is looming. All small blockists are in deny regarding that's problem. The clock is ticking but no need to panick, it's already too late.

[JayJuanGee]

Small blockists are killing Bitcoin.

https://bitcoinfees.21.co/

Which fee should I use?

The fastest and cheapest transaction fee is currently 40 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 9,040 satoshis (0.03$).

It's short-sighted.

What is important is not today but the future.

In the future there'll be more capacity to satisfy actual txs (not spammy near-zero cost txs). That much is a given.

Yeah... frequently there are these quasi abstract criticisms suggesting that core is not looking into the future enough... but really?

You gotta walk before you run, and segwit seems to be the next best step, and there seems to be no real question that there will be timely scaling.. and yeah, if there were a real and actual emergency, some kind of actual blocksize limit could be implemented.  

The assertion of  emergency has been exaggerated.

"quasi abstract"

Yes some people are thinking while other are just parroting what their superior in the engineering pecking order told them.

well hopefully you can keep some sense of humor about this, but I put myself in the group of thinkers, rather than parrots.   

I gather that you already understand the idea of Quasi-abstract, but are having fun with my description choice.

I don't buy your assumption of inelastic supply, and especially your assumption that some kind of tragedy is going to come from a few more months or even years delay in scaling.. I think that there is enough in the pipeline and development to keep us busy for a while, and this baby is likely going to go up in price, even if some folks continue to suggest that there are tragic emergencies (which I believe are much more imaginary rather than real.. so therefore, they sound good in theory, but are not as big of an issue as they are made out to be by the hypers).  Lot's of great work is continuing to be done by coders, miners, developers and lots of folks in this space.