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

[bitserve]

This has nothing to do with a mining monopoly. Limited space, lots of people, slots go to the highest bidder. What would be better, random choices of what goes into the block, or bigger blocks which is called um... btrash.

Of course it is. The blockchain became empty a few hours after miners thought they were getting 2X.

Before that there was maybe even more vocalised fee pain than there is now.

I think there was an additional reason: Everybody stopped moved coins to be ready for the fork.

Now we have the opposite happening: all this forks force people to move coins to redeem safely.

We can see how many people is even moving long time stored paperwallets.

Also, we the number of new/total users is on crazy record high.

COmbine all that with the obvious spam and here you have your perfect storm.

If there were NO spam.... the fees would reduce a bit... but blocks would still be completely full.

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[Imbatman]

Way too high.

Yeah, it's getting way up there. Something like 500+ for a quick confirm.

https://jochen-hoenicke.de/queue/#24h

870 sat/byte for next-block service according to https://bitcoinfees.earn.com/

For the average 500-byte transaction, that's $100 CAD.

I actually tried to move coins yesterday.  I paid a $40 fee, but then the mempool swelled further, making my offered fee rate unattractive.  I waited a few hours without success, and then paid btc.com $300 to accelerate the transaction.  It confirmed 2 blocks later.  

Look who's back.  Just go away

[gentlemand]

I think there was an additional reason: Everybody stopped moved coins to be ready for the fork.

Now we have the opposite happening: all this forks force people to move coins to redeem safely.

We can see how many people is even moving long time stored paperwallets.

Also, we the number of new/total users is on crazy record high.

COmbine all that with the obvious spam and here you have your perfect storm.

If there were NO spam.... the fees would reduce a bit... but blocks would still be completely full.

Full of course, but we have a long planned Bcash flippening, difficulty change, Bcash pump, new batch of S9s release, publicity drive, Coinbase launch, and an all time high in Bitcoin publicity.

If you want to tell the world Bitcoin is fucked and you should switch then now is the time to spam the living fuck out of it. And you build up over a period of time.

[Rosewater Foundation]

Way too high.

Yeah, it's getting way up there. Something like 500+ for a quick confirm.

https://jochen-hoenicke.de/queue/#24h

870 sat/byte for next-block service according to https://bitcoinfees.earn.com/

For the average 500-byte transaction, that's $100 CAD.

I actually tried to move coins yesterday.  I paid a $40 fee, but then the mempool swelled further, making my offered fee rate unattractive.  I waited a few hours without success, and then paid btc.com $300 to accelerate the transaction.  It confirmed 2 blocks later.  

Look who's back.  Just go away

Let me get this straight first. The average fee was $100 CAD (whatever that is), but he decided to pay $40. Then got impatient and decided to pay another $300.

These are the bcash thought-leaders.

[Ibian]

We need to break the mining monopoly.  Miners would not be able to afford stunts like this if mining was not monopolized.

Of course you can imagine how the miners would fuck you over with Bcash if it ever got popular.

This has nothing to do with a mining monopoly. Limited space, lots of people, slots go to the highest bidder. What would be better, random choices of what goes into the block, or bigger blocks which is called um... btrash.

No, it's called bigger blocks. Stupid tribalism is not helpful. We made the wrong call.

[HairyMaclairy]

This is what organic transaction growth looks like - no spam here !

[explorer]

Way too high.

Yeah, it's getting way up there. Something like 500+ for a quick confirm.

https://jochen-hoenicke.de/queue/#24h

870 sat/byte for next-block service according to https://bitcoinfees.earn.com/

For the average 500-byte transaction, that's $100 CAD.

I actually tried to move coins yesterday.  I paid a $40 fee, but then the mempool swelled further, making my offered fee rate unattractive.  I waited a few hours without success, and then paid btc.com $300 to accelerate the transaction.  It confirmed 2 blocks later.  

How very convenient!  I'll give it another 100 blocks or so, assuming bitpay doesn't puke the transaction by then.  Or I could just add 4 more Nano S' to the order, and ship them directly to bitmain as a fee

[sirazimuth]

This market is a joke.  ALL alts no matter how useless and shitty up +50% at the same time for no reason LOL.  And where did the money come from?  The same money that was used to pump bitcoin of course.  After the handful of people controlling BTC price couldn't find anyone to buy their absurdly overpriced bitcoins, they move to the next coin to try and pump and dump it.  What more evidence do you need that every single one of these coins whether it's BTC or an alt is nothing but a pump and dump?  The real carnage begins after they find nobody to buy these overpriced alts, then both BTC + alts implode together.

Ya know like in 20 years or so when bitcoin is at a 100 grande or whatever and all the top major alts are  all like thousands per coin
I can just see wrinkly old man roach on his rocking chair on the porch barking out the same old shit...
"bitcoin blockchain bankster jew conspiracy!!! blah blah blah! the jews control it all! blah blah blah!!buy silver!!!buy gold !!! blah blah blah!!!
read my Steeming pile of doogie link!

[BTCMILLIONAIRE]

This market is a joke.  ALL alts no matter how useless and shitty up +50% at the same time for no reason LOL.  And where did the money come from?  The same money that was used to pump bitcoin of course.  After the handful of people controlling BTC price couldn't find anyone to buy their absurdly overpriced bitcoins, they move to the next coin to try and pump and dump it.  What more evidence do you need that every single one of these coins whether it's BTC or an alt is nothing but a pump and dump?  The real carnage begins after they find nobody to buy these overpriced alts, then both BTC + alts implode together.

Ya know like in 20 years or so when bitcoin is at a 100 grande or whatever and all the top major alts are  all like thousands per coin
I can just see wrinkly old man roach on his rocking chair on the porch barking out the same old shit...
"bitcoin blockchain bankster jew conspiricy!!! blah blah blah! the jews control it all! blah blah blah!!buy silver!!!buy gold !!! blah blah blah!!!
read my Steeming pile of doogie link!

100k? 20 years? What the fuck?

[babanana]

Are we in for another wild ride? BTC is pumped, alts down, then alts being pumped atm. What's next? June 2017 we saw a good pump and dump and slump. Are we being setup again for the same?  

[bitserve]

I think there was an additional reason: Everybody stopped moved coins to be ready for the fork.

Now we have the opposite happening: all this forks force people to move coins to redeem safely.

We can see how many people is even moving long time stored paperwallets.

Also, we the number of new/total users is on crazy record high.

COmbine all that with the obvious spam and here you have your perfect storm.

If there were NO spam.... the fees would reduce a bit... but blocks would still be completely full.

Full of course, but we have a long planned Bcash flippening, difficulty change, Bcash pump, new batch of S9s release, publicity drive, Coinbase launch, and an all time high in Bitcoin publicity.

If you want to tell the world Bitcoin is fucked and you should switch then now is the time to spam the living fuck out of it. And you build up over a period of time.

Yes, they have identified a current Bitcoin weakness and are actively exploiting it. Which would be expected because there will always be malicious actors and that's exactly what they do.

They don't even hide it. Look at that Garzik fork.... to get free coins you needed to *MOVE* all your addresses during a specific period. That's almost like paying people to clog the network.

Of course one could argue that Bitcoin should have more resiliency against those malicious attacks.

[Peter R]

Way too high.

Yeah, it's getting way up there. Something like 500+ for a quick confirm.

https://jochen-hoenicke.de/queue/#24h

870 sat/byte for next-block service according to https://bitcoinfees.earn.com/

For the average 500-byte transaction, that's $100 CAD.

I actually tried to move coins yesterday.  I paid a $40 fee, but then the mempool swelled further, making my offered fee rate unattractive.  I waited a few hours without success, and then paid btc.com $300 to accelerate the transaction.  It confirmed 2 blocks later.  

Look who's back.  Just go away

Let me get this straight first. The average fee was $100 CAD (whatever that is), but he decided to pay $40. Then got impatient and decided to pay another $300.

Right now, the fee-rate for next-block service works out to $100 CAD for a 500-byte TX.  

Yesterday, the fee-rate for next-block service at the time when I made my transaction was $40, which I paid.  The mempool then swelled further like I said, making my offered fee rate unattractive.  I later chose to use an accelerator service (and pay $300) to get it to confirm quickly, which it did.

These are the bcash thought-leaders.

Yes, even I cannot peer into the future to predict whether the fee rate will rise or fall after I send my transaction.  

[sirazimuth]

This market is a joke.  ALL alts no matter how useless and shitty up +50% at the same time for no reason LOL.  And where did the money come from?  The same money that was used to pump bitcoin of course.  After the handful of people controlling BTC price couldn't find anyone to buy their absurdly overpriced bitcoins, they move to the next coin to try and pump and dump it.  What more evidence do you need that every single one of these coins whether it's BTC or an alt is nothing but a pump and dump?  The real carnage begins after they find nobody to buy these overpriced alts, then both BTC + alts implode together.

Ya know like in 20 years or so when bitcoin is at a 100 grande or whatever and all the top major alts are  all like thousands per coin
I can just see wrinkly old man roach on his rocking chair on the porch barking out the same old shit...
"bitcoin blockchain bankster jew conspiracy!!! blah blah blah! the jews control it all! blah blah blah!!buy silver!!!buy gold !!! blah blah blah!!!
read my Steeming pile of doogie link!

100k? 20 years? What the fuck?

oh ok... I exaggerate.. my bad... make it a year...

[Millionero]

I don't know if you guys are superstitious, but the fact that 23k doesn't exist on the poll might just mean that's where it'll land.
Now, if they change the poll so that you can vote for 23k, that means it won't happen.
I say Don't Touch That Dial!

[spiderbrain]

Well lots of spam tx do come from this whale address with 35K BTC.

https://blockchain.info/address/1CCUx4uRbHekUgqSeUm969G6oZ1KhvKagQ

Just keep following the split into 100 BTC and 1 BTC,
...

and you will get tx like this.

https://blockchain.info/tx/f3d38a015f8c68bfc62187d3497ac74b673fb788bedfe8d1a9a86fa1d07ccee9

Each batch of spam pay the exact same fee, but they are adjusting higher to make sure that they squeeze into next block and take up block space.  I have see it gone up from 750 satoshi/byte to 820 satoshi/byte now.

A $7500.00 USD transaction, and you're gonna call it spam? Aye carumba!

Never transact on the blockchain! Don't you know that anyone who actually attempts to use bitcoin as a payment network is a bcash shill?

[BTCMILLIONAIRE]

I don't know if you guys are superstitious, but the fact that 23k doesn't exist on the poll might just mean that's where it'll land.
Now, if they change the poll so that you can vote for 23k, that means it won't happen.
I say Don't Touch That Dial!

Schroedinger's poll?

[lightfoot]

I don't know if you guys are superstitious, but the fact that 23k doesn't exist on the poll might just mean that's where it'll land.
Now, if they change the poll so that you can vote for 23k, that means it won't happen.
I say Don't Touch That Dial!

Schroedinger's poll?

Now you have me thinking "Schroedinger's Troll". But yes, these fees are getting stupid. Maybe it's time to boost the blocksize......

[Rosewater Foundation]

 

BLOCKSIZE BLOCKSIZE BLOCKSIZE!!!

FEES FEES FEES

[Rosewater Foundation]

I tried to send a loaf of bread using a postage stamp once. The post is officially worse than Blockstream!

[HairyMaclairy]

COCKSIZE COCKSIZE COCKSIZE!!!

WEES WEES WEES

Ftfy