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

[Meuh6879]

HF can not work on "not free" network.
Bitcoin is not free ... at all.







Exchange can ... do the job.








Bitcoin not affected.











HF are fucked by Bitcoin rules. Good.

[jbreher]

i think the goal is and always will be to get bitcoin to be able to process all of the worlds TX.

i agree only LN can achieve this

I don't. While I do not know how many years would transpire for the world to adopt some mythical 'limitless bitcoin' as the default transaction mechanism, let us posit that it would be at least several years.

A three order of magnitude improvement is all it would take for us to hit Visa levels.

HDD capacity has increased more than three orders of magnitude in the last two decades.
It only took one decade (1997 to 2007) for internet aggregate throughput to do 1000x.
Single-chip MIPS did 10^3 from 1986 to 2006.

We can quibble over recent figures and such, but the trend is clear. Bitcoin can indeed scale to encompass the role of a worldwide default transaction medium. Are trends decelerating? Maybe, maybe not. Is the world wanting to adopt fully in two decades? Maybe, maybe not. But technology will at some time enable such.

[jbreher]

And the most recent hard fork was pretty easy, then polo started screwing everyone and made a bundle of money and stabbed the ecosystem in the back. I have hope for a miner revolt but this just means it needs to happen sooner or the opportunity will be lost forever.

I still am waiting for anyone to explain to me how any aspect of the hard fork of the-coin-that-shall-not-be-named was in any way negative.

Forkers got what they wanted, stayers got what they wanted, aggregate market cap greater than ever. And there is now another leveraged trading vehicle for Bitcoin price arbitration. What's not to love?

[marcus_of_augustus]

[adamstgBit]

pushing 2MB block into the protocol now, failed.
and now segwit is close to completion ( *completed* but needs to be fully tested / adopted? idk )
i think most will agree we need to stick to the plan, segwit now and we revisit 2MB later.
so we are arguing about this for no reason, we're more or less all on the same page now.

Why do people think that blocks won't be full even after segwit + 2MB  
Think the same people miss the whole argument

why would you think that if we suddnly double or quadruple block space, it would fill up right away ?

the fullblockcalypse creeped up on us, i mean it took years to get to the point where 1MB block were full why would the next MB get filled up over night?

[podyx]

pushing 2MB block into the protocol now, failed.
and now segwit is close to completion ( *completed* but needs to be fully tested / adopted? idk )
i think most will agree we need to stick to the plan, segwit now and we revisit 2MB later.
so we are arguing about this for no reason, we're more or less all on the same page now.

Why do people think that blocks won't be full even after segwit + 2MB  
Think the same people miss the whole argument

why would you think that if we suddnly double or quadruple (segwit+2mB) block space they would fill right up?

the fullblockcalypse creeped up on us, i mean it took years to get to the point where 1MB block were full why would the next MB get filled up over night?

https://en.wikipedia.org/wiki/Exponential_function

Obviously it won't happen over night but it's gonna happen faster then you'd imagine I reckon

It's a good thing though.

[adamstgBit]

pushing 2MB block into the protocol now, failed.
and now segwit is close to completion ( *completed* but needs to be fully tested / adopted? idk )
i think most will agree we need to stick to the plan, segwit now and we revisit 2MB later.
so we are arguing about this for no reason, we're more or less all on the same page now.

Why do people think that blocks won't be full even after segwit + 2MB  
Think the same people miss the whole argument

why would you think that if we suddnly double or quadruple (segwit+2mB) block space they would fill right up?

the fullblockcalypse creeped up on us, i mean it took years to get to the point where 1MB block were full why would the next MB get filled up over night?

https://en.wikipedia.org/wiki/Exponential_function

Obviously it won't happen over night but it's gonna happen faster then you'd imagine I reckon

regardless, point is 1MB can't stand, LN will require bigger blocks how long do we want to delay the inevitable, and why?!
because full node count?
full node count is meaningless, we all know that, classic proved that.

this what is meaningful ( the TX themselfs )
https://www.cryptocoinsnews.com/researchers-bitcoin-blockchain-secured-inspite-of-51-attack/
It can keep decentralization in check, this weird POS (non-mining-no-staking-POS? ) thing is the future.

bitcoin's blockchain is wtv ever the majority of TX on the network say it is?
wait anyone could make an endless chain of TX that vote for classic as the preferred blockchain???, fuck idk how this works, but they're onto somthing!

this might be worth a read... https://eprint.iacr.org/2016/716.pdf

[jbreher]

edits: sorry about that my grammar and sentence structure goes out the window when i get excited.

Just as an aside, I had always assumed your ... err ... peculiar dialect was intentional. While your spelling and grammar are typically atrocious, you are obviously capable of reason.

Whatevs.

[adamstgBit]

edits: sorry about that my grammar and sentence structure goes out the window when i get excited.

Just as an aside, I had always assumed your ... err ... peculiar dialect was intentional. While your spelling and grammar are typically atrocious, you are obviously capable of reason.

Whatevs.

long story short, my mother tongue is french.

[Fatman3001]

edits: sorry about that my grammar and sentence structure goes out the window when i get excited.

Just as an aside, I had always assumed your ... err ... peculiar dialect was intentional. While your spelling and grammar are typically atrocious, you are obviously capable of reason.

Whatevs.

long story short, my mother tongue is french.

I KNEW IT!!!

[marcus_of_augustus]

And the most recent hard fork was pretty easy, then polo started screwing everyone and made a bundle of money and stabbed the ecosystem in the back. I have hope for a miner revolt but this just means it needs to happen sooner or the opportunity will be lost forever.

I still am waiting for anyone to explain to me how any aspect of the hard fork of the-coin-that-shall-not-be-named was in any way negative.

purely technically it's a nightmare ... two networks running on the same port ... double the transaction bandwidth, double the blockchain space needed ... new software to figure out which coins are spent on both chains, which coins only on one chain, defend against double-spends from one side to the other ... it's a fucking big mess, you just aren't hearing much about the chaos behind the scenes and the total externalities being wasted to keep the circus looking partly sane.

[adamstgBit]

https://eprint.iacr.org/2016/716.pdf

wow. why so complex batman?

simply allow TX to have an extra few bytes of data which allows coins to communicate their willingness/readyness to accept any new feature, and maybe also, the hash of last block # they believed to be valid. ( have all this info hardcoded into the client the user chooses to run )

with that info, we can easily determine the will of the economy marjory, and what the "best blockchain" is.

i guess that's what they're saying in that paper, i can't be bother to read it, its too long and complex.

Therefore, we conclude that
Pr[Y ≥ 1] ≥ 1 − e −Ω(κ)

[Dotto]

Have patience friend, Bitcoin ETF's will come.

in 6months?

[adamstgBit]

[BlindMayorBitcorn]

Throw it in a pot, put some broth on it, stick a potato in there. Presto! You've got stew goin' on.^

[adamstgBit]

https://bitcointalk.org/index.php?topic=796276.msg15744550#new
just incase you missed it, wrote it last night.

[JayJuanGee]

It looks like I got about 10 months of decent BTC/USD free trading on Uphold, but now they are changing their fees.. actually increasing their BTC/USD trading fees from 0% to .45%, beginning August 1... in a couple of days.


https://uphold.com/en/blog/posts/uphold/uphold-introduces-new-pricing-structure


All good things must come to an end?


Take advantage of what you can while you can, because it may not be in the future?

[adamstgBit]

It looks like I got about 10 months of decent BTC/USD free trading on Uphold, but now they are changing their fees.. actually increasing their BTC/USD trading fees from 0% to .45%, beginning August 1... in a couple of days.


https://uphold.com/en/blog/posts/uphold/uphold-introduces-new-pricing-structure


All good things must come to an end?


Take advantage of what you can while you can, because it may not be in the future?

well that news, never heard of uphold.

there fees seem reasonable but you can find better fees on BTC/USD easily enough.

how ever... i would not base my decision on where to trade base on fees, more base on, where i feel safest.

[JayJuanGee]

It looks like I got about 10 months of decent BTC/USD free trading on Uphold, but now they are changing their fees.. actually increasing their BTC/USD trading fees from 0% to .45%, beginning August 1... in a couple of days.


https://uphold.com/en/blog/posts/uphold/uphold-introduces-new-pricing-structure


All good things must come to an end?


Take advantage of what you can while you can, because it may not be in the future?

well that news, never heard of uphold.

there fees seem reasonable but you can find better fees on BTC/USD easily enough.

how ever... i would not base my decision on where to trade base on fees, more base on, where i feel safest.

Uphold used to be called Bitreserve.  They changed their name about 10 months ago.

I have been kind of trading with some places with fees too, and fees are generally between .1% and .25% (BTC-e, Bitfinex, Bitstamp, Gemini and GDAX)...

[DaRude]

pushing 2MB block into the protocol now, failed.
and now segwit is close to completion ( *completed* but needs to be fully tested / adopted? idk )
i think most will agree we need to stick to the plan, segwit now and we revisit 2MB later.
so we are arguing about this for no reason, we're more or less all on the same page now.

Why do people think that blocks won't be full even after segwit + 2MB  
Think the same people miss the whole argument

why would you think that if we suddnly double or quadruple block space, it would fill up right away ?

the fullblockcalypse creeped up on us, i mean it took years to get to the point where 1MB block were full why would the next MB get filled up over night?

I don't think 0 or 1satosh/byte fee transaction will ever stop. Too much incentive starting with the bears. Double we'll ever see empty mempools ever again