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

[ImI]

yes winklevoss ETF could be a game changer. but we have no date or event to rally into as we dont know if that thing will happen at all. the last date for that SEC rule is just a minor thing afaik that doesnt give much clue about that whole endeavour.

[Biro Bob]

In the past when volume has been this low and price hovering in the same place, the price normally falls. In this particular case, with the 1800 coin reduction in daily supply, I'm not taking that risk and anyone selling under $650 has massive balls.

On a different note, I'm glad I'm not a miner with one of those 'superfarms'. Their 50% drop in income overnight makes the 10% Brexit affect on the pound look trivial.

[Hyperjacked]

yea fatman ive been bullish on crypto since just before Brexit and even more bullish now that Trump looks likely to destroy the USA economy and Dollar.

However short term i do see BTC testing $500, this will test the network and the community...will fear set in and we go lower?, will miners leave ?(short term) once these have been tested, i think we will begin recovery around end sept-oct. United States presidential election of 2016, Tuesday, November 8, 2016 will be the the time we go over $1k as many people will leave( or be thrown out ,lol) and BTC and ETH will allow them to move money out easier and quicker as we move into 2017.

Very interesting...after the sideways action I expect a dump! but who knows...

[adamstgBit]

'Sin’ Activities No Longer Drive Bitcoin Economy, Researchers Find
http://www.coindesk.com/bitcoin-economy-black-market-sin-report/

the report said, [bitcoin use] is now dominated by legitimate merchants and exchanges.

yup. I've always bought my pot with CAD (once upon a time i almost did buy pot with BTC, but then i was like fuck it ill get it off my friend WAY before it even gets shipped out so wtf!? (Glad i didnt wast 2012 BTC on POT lol!))
and I can't wait to try purse.io, i need more stuff in my amazon wish list... ( I should let my gf do it! lol )

 

[marcus_of_augustus]

Reduced supply total: 4400 btc

[BlindMayorBitcorn]

Adam is hemorrhaging posts again.
Everybody  !;D

[marcus_of_augustus]

[adamstgBit]

[BlindMayorBitcorn]

who made thee
   Dost thou know who made thee,
Gave thee life, and bid thee feed

[Agaguk24]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

[adamstgBit]

i think if bitcoin price is stable bitcoiners might become more productive and start making more money, so thats why price simply cannot remain stable for long.

[BlindMayorBitcorn]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

There is no block size issue. Nothing is broken.

*Ducks*

Later dudes.

[adamstgBit]

Any idea when will the block size issue be fixed?

short answer, probably never
shorter answer, soon.

long answer,

There is no block size issue. Nothing is broken. there is a TX limit that is self imposed by the network because of the theoretical TX limit , which, if reached node centralization will occur ( altho there is a group of poeple that beleive node centralization was always part of the plan) , this limit is based on the internet speeds/bandwidth incurred by nodes.

this limit is meaningless for "private off-chain bitcoin TX" ( aka Lighting Network ), the current Lighting Network is in dev, i know of 2 project which aim to bring a second layer to bitcoin which will have practically no limit. they both depend on segwit implementation to be widely adopted. I believe segwit will take time to be widely adopted maybe a year, and by then the Lighting Network will be in great shape.

so in ~1year it should all come together and we'd see headlines like " bitcoin adopts new TX layer, which allows it to handle >100,000TX/sex ".

[AlexGR]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

[AlexGR]

=> http://www.zerohedge.com/news/2016-07-11/kyle-bass-was-right-here-socgens-primer-how-trade-biggest-yuan-depreciation-wave-yet

(TLDR: CNY is projected to slide quite a bit)

[adamstgBit]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX.

[adamstgBit]

looking at the 5 min chart

http://bitcoincharts.com/charts/chart.png?width=940&m=bitfinexUSD&SubmitButton=Draw&r=2&i=5-min&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=1&p=0&

we can conclude nothing

but its fun to watch it live!

[nonbody]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX.

Bitcoin has become more popupar and so does the number of transactions.  An incress in fees will supplement the halving reward of bitcoin in some extent.

[Searing]

 Well this article is claiming it is gonna break out. (hey for what it is worth at least a positive press story ...in a unicorn like manner)

http://www.marketwatch.com/story/why-bitcoin-is-on-the-verge-of-a-breakout-in-one-chart-2016-07-11

hope he is correct

[adamstgBit]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX.

Bitcoin has become more popupar and so does the number of transactions.  An incress in fees will supplement the halving reward of bitcoin in some extent.

the doubling in capacity segwit provides = 2 X the fees once TX volume starts hitting that new 2MB limit,  and then fee go up... miners will be alright... eventually there will most likely be yet another doubling of the blocksize to 4MB, maybe devs will end up doubling it every halving?? who knows...