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

[Andre#]

Ordered pizza paying with BTC. Despite the fee of 6,5 eurocents (and the conversion rate which is 1% lower then IRL), it's just nice to do.

Don't forget, you saved €1 for a bank payment (iDeal). So you still made 78 cents of profit by spamming the Blockchain with this "coffee" transaction.  

EDIT: Now I think about it, perhaps the reason the "spam" doesn't stop is because it's profitable to do. E.g. to take out the spam shown above, the tx fee should rise to over $0.90.

[hv_]

Ordered pizza paying with BTC. Despite the fee of 6,5 eurocents (and the conversion rate which is 1% lower then IRL), it's just nice to do.

Don't forget, you saved €1 for a bank payment (iDeal). So you still made 78 cents of profit by spamming the Blockchain with this "coffee" transaction.  

EDIT: Now I think about it, perhaps the reason the "spam" doesn't stop is because it's profitable to do. E.g. to take out the spam shown above, the tx fee should rise to over $0.90.

Ohh what a junk pizza! The last one I know from was worth 10000 BTC. So pls do not eat that crap above!
 

[yefi]

I'm waiting for the bottom to fall out...

Don't wait. If you start Kegel exercises now, you can probably prevent the outpouching.

[r0ach]

Why most people, even experts, are going to get crushed in the coming world market collapses and why you HAVE to play the long game:

https://bitcointalk.org/index.php?topic=1413819.msg16583789#msg16583789

[JayJuanGee]

Ordered pizza paying with BTC. Despite the fee of 6,5 eurocents (and the conversion rate which is 1% lower then IRL), it's just nice to do.

[https://tweakers.net/ext/f/PYS97fAp6hUjqjbwBKhOht22/full.jpg[/img]

Don't forget, you saved €1 for a bank payment (iDeal). So you still made 78 cents of profit by spamming the Blockchain with this "coffee" transaction.  

EDIT: Now I think about it, perhaps the reason the "spam" doesn't stop is because it's profitable to do. E.g. to take out the spam shown above, the tx fee should rise to over $0.90.

You are pie in the sky thinking when you are trying to suggest what bitcoin related transaction fees are going to be in the future, especially regarding smaller transactions that may have a multitude of competitive solutions within the space.  Sure there are going to be a variety of outliers, as in any space, where you may get charged a 20% fee, yet bitcoin gives you an option that you may or may not want to use, depending upon fees. 

For example, I almost never get cash advances with my credit card or engage in transactions that are going trigger those kinds of cash advance fees. Actually, the only times that I do it is accidentally, and then when I see how much I have been charged, I quickly avoid that kind of behavior because I really prefer not to pay 20% in fees for anything.  On the other hand, there are always going to be people who either do not calculate or they live too short term in their cash flow arrangements, and they frequently engage in behaviors in which they feel "forced" to pay higher fees.

[Elwar]

Oooh...block size talk is back...

cheap coins!

[hdbuck]

Oooh...block size talk is back...

cheap coins!

price is dam to high..

[JayJuanGee]

Oooh...block size talk is back...

cheap coins!

I wonder regarding block size limit material/significant affects on BTC price direction?

There remains a consistent kind of blocksize limit buzz talk (a bit over a year, correct), but it also seems that more and more folks are coming to realize that blocksize limit talk is a kind of nonsensical, and it is more of a scare tactic rather than any kind of real evidentiary based issue. 

In essence the blocksize limit/therefore bitcoin broken talk is losing some of it's actual price direction effectiveness.

On the other hand, I cannot really see blocksize limit talk going away in the coming years, because there is a kind of underlying logic to such discussion that is more difficult to rebutt factually when the history of bitcoin remains kind of short and in recent history transactions have taken up a larger portion of the blocksize...

So logically, there seems to be a bit of a potential upcoming description of a blocksize limit tragedy that will not really play out in reality as it is projected, even though logically it makes some sense to describe such impending upcoming doom and people are emotionally receptive to such largely non-factual based descriptions of tragedy/doom scenarios.

[savetherainforest]

Why most people, even experts, are going to get crushed in the coming world market collapses and why you HAVE to play the long game:

https://bitcointalk.org/index.php?topic=1413819.msg16583789#msg16583789

They don't love you roach... ... They are stuck in their tiny mentalities... And lets see if this comment gets deleted again when I mention that I'm hoarding cubic tons of copper ore/ingots/coins!  


*Edit: I also have a bronze statue of myself posing as that blind Justice curly blonde that holds a sword and a libra in her hands...    .. In the future they will see me as a god that was revered in pagan bankster times! 

[Hyperjacked]

I'm waiting for the bottom to fall out...

Don't wait. If you start Kegel exercises now, you can probably prevent the outpouching.

Two Thumbs way up for a creative reply...

Look the market cap is completely insane IMHO! That doesn't mean it can't go past a 100billion market cap...
Crazier things have happened...jay of course does not deserve a response

Cheers bitcoinland

[JimboToronto]

Cheers bitcoinland

Cheers.

[Hyperjacked]

Cheers bitcoinland

Cheers.

Cheers Jimbo...

A porn star in a tux with a whisky and the queen with a cigarette...love it

Rotflmao

[AZwarel]

Cheers bitcoinland

Cheers.

Have to quote, because of awesomeness!!! I mean the picture selection :-D
Also, i had a prophetic, lucid dream of a bitcoin rally to the sky/moon/electric Sun, the collective subconscious said the word, so it is time!

Also: http://www.zerohedge.com/news/2016-10-15/5-urgent-warnings-big-banks-economy-has-gone-suicidal yeah, i know, it is zerohedge, where apocalypse is an everday event, but still, it is an interesting read.

EDIT: lol Hyperjacked was faster :DDDDD

[JayJuanGee]

I'm waiting for the bottom to fall out...

Don't wait. If you start Kegel exercises now, you can probably prevent the outpouching.

Two Thumbs way up for a creative reply...

Look the market cap is completely insane IMHO! That doesn't mean it can't go past a 100billion market cap...
Crazier things have happened...jay of course does not deserve a response

Cheers bitcoinland

Yeah... because you make your prediction with nearly zero substance, explanation or facts to back them up, and then there is some movement in the direction of your stupid-ass non-substantiated prediction, and you claim that you were correct... What more nonsense could you imagine, beyond that kind of approach to bitcoinlandia matters?      Maybe we need a fantasy fairy that can be posted to coincide with any of Hyperjacked's prediction posts?   

[Meuh6879]

jam traffic on monday ?
that's new ...

[JimboToronto]

Good morning Bitcoinland.

Nothing much changed over the weekend... still a little over $640.

Meanwhile this thread has slowed down to a trickle. Maybe when we start the inevitable climb up to a new ATH, this place will wake up again.

[Karartma1]

jam traffic on monday ?
that's new ...

I would say that they went all back to work   but this will not answer it this time. Can be just a one-off: let's monitor how this continues. It would seem strange after all, unless new people are awakening their dormant coins.  

[poncho32]

jam traffic on monday ?
that's new ...

I would say that they went all back to work   but this will not answer it this time. Can be just a one-off: let's monitor how this continues. It would seem strange after all, unless new people are awakening their dormant coins.  

It's reducing back downwards in size now. The mempool size won't alter the price, it's been far above 10MB before and the price stayed steady. We all know you only have to pay a higher fee for fast confirmations if the mempool is bigger than normal. The mempool's size doesn't frighten us.

[yefi]

Look the market cap is completely insane IMHO! That doesn't mean it can't go past a 100billion market cap...
Crazier things have happened...jay of course does not deserve a response

Cheers bitcoinland

I see this as a continuation of the bull trend. I take my inspiration here from the rare earth metals, which share characteristics in common with Bitcoin. Tops are nearly always mania spikes. The rally to 780 could have fit this description after the drop to 460, but this recovery invalidates that pattern. Next stop is 1000 imho.

[NiceSoft12]

Geez its tanking again.... had thought this might be a good time to enter in a position last week.... when will the bubble form again