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

[ghandi]

Waiting for the bounce...patiently

[1715483966]

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[TERA2]

I smell $30k within 10 days 

30k ha, how about you make it 50k

More important than what 30k smells like, what does a range of 10 days smell like?

[Asrael999]

I smell $30k within 10 days 

30k ha, how about you make it 50k

More important than what 30k smells like, what does a range of 10 days smell like?

By the time you have gone a week without washing you won't notice anyway

[JayJuanGee]

Great interview posted 4 hours ago.

The Debate Within Bitcoin: Jameson Lopp vs. Roger Ver on Bitcoin and Bitcoin Cash

https://www.youtube.com/watch?v=jEBkdCdj4FQ

Can't be great.

Has Ver.

Yep.   I hate to admit that I wasted one hour of my life listening to that crap, and I should have known better without listening, and even once I started listening, I should have realized that the content was not really going to get much better after the basic introductions  

Surely, does not live up to anything near "great" or even "good" and surely RoomBot made the correct conclusion that Roger Ver took away from any kind of meaningful quality within such discussion, without wasting an hour of his time to come to such conclusion......  fuck me, but congrats to you RoomBot...  .... Edit and congrats to Alexeft for not listening to the whole thing.  You did not miss anything.... I kind of realized about half way through that I was wasting my time.. but I did soldier through the crap.   again.. makes me feel... 

[HairyMaclairy]

Thank you Jay for taking one for the team.  We won’t forget!

[TERA2]

[bitserve]

Let's see if someone can clear me this doubt:

CUrrently only a few percent of tx's are Segwit (let's round to 10%) so blocks only have a less than 10% increase in capacity.

If much more people were using Segwit, more tx's could be fit per block.

And here comes the question: WHy don't miners (non malicious ones) give some preference to segwit tx's over classic ones?

If they can stuff 3x more tx's on a block, even if the fee paid were half they would be earning more fees per block.

As an added benefit, that would make some extra pressure on people to use segwit because they would benefit from a) lower fees b) MUCH higher probability of being included in next block.

Any thoughts?

P.S.: Numbers highly rounded and simplified.

[ivomm]

In our country we have a saying: Every miracle for 3 days. In the crypto world it translates: every pump for 3 days. This is again the case with bcash, which is by no means the biggest pump in history. Looking at the chart of bcash in poloniex, one can see that the previous pump reached briefly 0.4 BTC and then suddenly dropped. From what I've read, some cool guy dumped on bithumb almost to 0 all his bcash. In such cases this exchange has the rule to turn off the servers so that it preserves the funds of Jihan, Ver  and his sockpuppets. This move prevented other exchanges from going to 0 also. Anyway, the dump was inevitable. It will happen each time Ver is trying to overtake BTC. Why? Because nobody trusts a coin manipulated by a fraudster and his sockpuppets. I think no one will sleep well if trying to hold bcash. There are too many risks involved. What if Ver dies, or spends his last BTC in the belief that his sockpuppets will continue to pump it? No one can see a bright future in such shady shit coin.

[HairyMaclairy]

Fees are calculated per byte not per transaction so a miner is notionally indifferent to mining 5 normal or 10 Segwit transactions.  In reality I suspect that miners are anti-Segwit because less congestion would be less fees.  

[HairyMaclairy]

This is the power of the 1 MB blocksize.  We can see all the 1 Satoshi spam transactions being dumped by the mem pool in the chart below. Bitcoin is autonomously defending itself by design.  If we had 8 MB blocks, the blockchain could not defend itself.

[JayJuanGee]

Thank you Jay for taking one for the team.  We won’t forget!

[bitserve]

Fees are calculated per byte not per transaction so a miner is notionally indifferent to mining 5 normal or 10 Segwit transactions.  In reality I suspect that miners are anti-Segwit because less congestion would be less fees.  

Yes, are calculated per byte, and Segwit tx's use less bytes (of the first MB) so they could stuff much more tx's in a block.... unless there is not enough segwit tx's in the mempool, which I don't think that's the case.

Of course, if they were doing that the mempool would be cleared soon (at least for segwit tx's, which is user's choice), the fee rates would drop dramatically and miners would earn much less from fees. That's why I have always said that smaller blocks benefit miners more than anyone else.

[HairyMaclairy]

Fees are calculated per byte not per transaction so a miner is notionally indifferent to mining 5 normal or 10 Segwit transactions.  In reality I suspect that miners are anti-Segwit because less congestion would be less fees.  

Yes, are calculated per byte, and Segwit tx's use less bytes (of the first MB) so they could stuff much more tx's in a block.... unless there is not enough segwit tx's in the mempool, which I don't think that's the case.

Of course, if they were doing that the mempool would be cleared soon (at least for segwit tx's, which is user's choice), the fee rates would drop dramatically and miners would earn much less from fees. That's why I have always said that smaller blocks benefit miners more than anyone else.

Unless your end game is a centrally controlled China coin. In which case, the bigger the better !  I love how all the Bcash shills are basically Jihan’s pawns. Most of them don’t even realize it. Others know but don’t care because they are just talking their book.

[LFC_Bitcoin]

When is it anticipated that all the bull shit spam transactions will stop? Over 248k unconfirmed transactions is ridiculous, I haven’t checked but I assume a massive % of those are spam.

[HairyMaclairy]

When is it anticipated that all the bull shit spam transactions will stop? Over 248k unconfirmed transactions is ridiculous, I haven’t checked but I assume a massive % of those are spam.

You should assume never.  Bitcoin will always be under attack.  But Bitcoin is anti-fragile and attacking it always makes it stronger in the long run.

[rjclarke2000]

Can’t bring myself to look at the price. Am I still rich after Roger’s antics?

[ragnar0k]

When is it anticipated that all the bull shit spam transactions will stop? Over 248k unconfirmed transactions is ridiculous, I haven’t checked but I assume a massive % of those are spam.

You should assume never.  Bitcoin will always be under attack.  But Bitcoin is anti-fragile and attacking it always makes it stronger in the long run.

It wouldn't be a bad idea to deploy LN (is it not already running on ltc?) and enforce Segwit...
That would also have the side effect of sending bcash to zero! I think it is ridiculous btc is not at least blocking non-sw transactions, coinbase would implement sw in no time

[HairyMaclairy]

Can’t bring myself to look at the price. Am I still rich after Roger’s antics?

As poor/rich as yesterday? 

[rjclarke2000]

Can’t bring myself to look at the price. Am I still rich after Roger’s antics?

As poor/rich as yesterday? 

I looked yesterday and it was hanging in there just about. I was hoping to bust out of the dips but in the end I thought it would be better not to look anymore.

20k by New Year still in play?

[Flamaicon]

YESSSS
$$$$
20k at Christmas
25k after Hard Fork dec/28