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

[Fatman3001]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

Actually should figure that fatty would chime in with a bit of her white knighting.   

After that round of cornholing the only one who needs a white knight is you.

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[AlexGR]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

[adamstgBit]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

Which fee should I use?

The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.
For the median transaction size of 292 bytes, this results in a fee of 17,520 satoshis (0.11$).

[adamstgBit]

the problem.

1)newbie sends a TX without knowing the appropriate fee/byte
2)it doesn't confrim for hours.
3)he sends another TX with a higher fee/byte
4)he repeats steps 2 & 3 a few times
5) he gives up, "bitcoin is broken"
6) next day he wakes up and all his TX expect for the first one have confrimed.
7) he now tries contacts bitpay support to try and get the extra 4x32$ that he over paid.


8 ) hes happy that bitcoin works so well.

[Meuh6879]

noobs don't use mobile phone to spend and receive bitcoins (with automated fees control).










why ?  

[Fatman3001]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

I didn't ask whether it was a problem. I'm asking how it's going with the solutions.

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

Have you noticed that what is happening is exactly what Gavin said was going to happen?

[AlexGR]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

Which fee should I use?

The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.
For the median transaction size of 292 bytes, this results in a fee of 17,520 satoshis (0.11$).

Yes, that's first block inclusion. FASTEST.

[AlexGR]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

I didn't ask whether it was a problem. I'm asking how it's going with the solutions.

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

Have you noticed that what is happening is exactly what Gavin said was going to happen?

The price has grown from 200 to 400 to 660. If price is an indicator of whether it's working well, I guess it's working damn well.

As for saturation, the chain can be saturated for ever no matter the block size, even 1gb blocks. If it costs near zero to broadcast a tx, why wouldn't it be "saturated"? The only question is whether miners are ok processing these txs or not. Then someone will bitch about "ohhh the mempool is saturated and miners don't process my 0.000001$ tx" 

[Fatman3001]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

I didn't ask whether it was a problem. I'm asking how it's going with the solutions.

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

Have you noticed that what is happening is exactly what Gavin said was going to happen?

The price has grown from 200 to 400 to 660. If price is an indicator of whether it's working well, I guess it's working damn well.

As for saturation, the chain can be saturated for ever no matter the block size, even 1gb blocks. If it costs near zero to broadcast a tx, why wouldn't it be "saturated"? The only question is whether miners are ok processing these txs or not. Then someone will bitch about "ohhh the mempool is saturated and miners don't process my 0.000001$ tx" 

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

[AlexGR]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

[Fatman3001]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

nevermind, I guess that means no

Edit : Ok, so it was released a day ago

thx!

Edit 2: Any idea how long it will take with the seeds?

[AlexGR]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

nevermind, I guess that means no

Edit : Ok, so it was released a day ago

thx!

Edit 2: Any idea how long it will take with the seeds?

No idea.

[Fatman3001]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

nevermind, I guess that means no

Edit : Ok, so it was released a day ago

thx!

Edit 2: Any idea how long it will take with the seeds?

No idea.

ok,thx

[marcus_of_augustus]

Gavin said Craig Wright is Satoshi ... oh, yeah, that happened ... exactly like he said, uh-huh, uh-huh.

[Fatman3001]

Gavin said Craig Wright is Satoshi ... oh, yeah, that happened ... exactly like he said, uh-huh, uh-huh.

What happened was that Craig Wright chickened out. Pretty much like Satoshi did.

[marcus_of_augustus]

Gavin said Craig Wright is Satoshi ... oh, yeah, that happened ... exactly like he said, uh-huh, uh-huh.

What happened was that Craig Wright chickened out. Pretty much like Satoshi did.

Yeah Satoshi "chickened out" ... right after he produced and fostered the weapon to destroy the most powerful, criminal cartel the planet has ever seen.

Keep up your slide into irrelevancy you fat fuck.

[adamstgBit]

[adamstgBit]

Have patience friend, Bitcoin ETF's will come.

in 6months?

Hello? Soon. ^TM

[adamstgBit]

[adamstgBit]