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

[jojo69]

Yea, it was really obvious, looking back. This is what I get for trying to actively trade while not sitting at my pc monitoring things. Sure I can trade on stamp from my phone, but it's not a good idea.

Don't feel bad.  If it makes you feel better I got long just about the same time.

[Enjel]

I am assuming you are talking about the false breakout to 16k, since it is now 14k.

Can you explain why this was obvious in hindsight? I'm just curious, because I thought it could stabilize at around 16k, high 15k.

[mike4001]

Funny thing is: If Bitcoin never rose to 19,5k 1-2 weeks ago we would now all be extremely happy.

Breaking 10k and no moving between 13 und 14k

[Lontonbit]

Bitcoin is a device for transferring money from the impatient to the patient

[jbreher]

Ok, as of right now, the price to send a transaction in the next block is about 140 satoshis per byte

Where are you getting your data? It seems off. Way off.

According to estimatefees.com, to get 2 block confirmation, you'll need to spend 953 sat/B. $45.98 USD for a current average tx of 374 bytes.

According to earn.com, to get 1-4 block confirmation, you'll need to spend 440+ sat/B.

https://bitcoinexchangerate.org/fees: Next block   $37.35   sat268798   BTC0.00268799

https://bitcoinfees.github.io/#1m: 948 sat/B

FACT CHECK INDEED.

[Dognutz]

Pale Moon no longer accepts Cryptocurrency donations due to the outrageous fees.

https://forum.palemoon.org/viewtopic.php?t=17826

I expect we see a flood of services dropping Bitcoin in the coming weeks.

It's a REALLY bad sign when you can't even give away something that is supposed to be money.

[AlcoHoDL]

Pale Moon no longer accepts Cryptocurrency donations due to the outrageous fees.

https://forum.palemoon.org/viewtopic.php?t=17826

I expect we see a flood of services dropping Bitcoin in the coming weeks.

It's a REALLY bad sign when you can't even give away something that is supposed to be money.

Why dropping all cryptocurrencies? It's only Bitcoin that's currently relatively expensive to transfer. They could accept Litecoin instead...

[jbreher]

So anyone buying their other half or family members some BTC for Christmas?

I've given each of the progeny (3 kids, 2 inlaws, 2 grandkids) 1 BTC each of the last three xmases. I see no reason to divert. This year, they'll be wrapped in Ledger Nano Ss.

I understand that each of us have our proclivities for generousity, or not, but that sounds financially ridiculous for normal people.

Yeah - that's the 2nd time in recent memory you're telling me I'm living my life in an improper manner.

I am presuming that you and I have similar quantities of bitcoin,

I am presuming you are off by a significant multiple. My position was largely set by early 2011. Ponderate upon that fact.

[Lontonbit]

Pale Moon no longer accepts Cryptocurrency donations due to the outrageous fees.

https://forum.palemoon.org/viewtopic.php?t=17826

I expect we see a flood of services dropping Bitcoin in the coming weeks.

It's a REALLY bad sign when you can't even give away something that is supposed to be money.

Why dropping all cryptocurrencies? It's only Bitcoin that's currently relatively expensive to transfer. They could accept Litecoin instead...

He's just trying to find any news as fud lol 😂

[HairyMaclairy]

Ok, as of right now, the price to send a transaction in the next block is about 140 satoshis per byte

Where are you getting your data? It seems off. Way off.

According to estimatefees.com, to get 2 block confirmation, you'll need to spend 953 sat/B. $45.98 USD for a current average tx of 374 bytes.

According to earn.com, to get 1-4 block confirmation, you'll need to spend 440+ sat/B.

https://bitcoinexchangerate.org/fees: Next block   $37.35   sat268798   BTC0.00268799

https://bitcoinfees.github.io/#1m: 948 sat/B

FACT CHECK INDEED.

Whether you like it or not the mem pool was until the last few blocks clearing down to 140 sats. We seem to have a slight bump in Xmas traffic in the last few minutes.  Feel free to quote fee estimators that are horribly wrong and suit your agenda.

[alexeft]

Bitcoin is a device for transferring money from the impatient to the patient

Yep! It is!

[jojo69]

I am assuming you are talking about the false breakout to 16k, since it is now 14k.

Can you explain why this was obvious in hindsight? I'm just curious, because I thought it could stabilize at around 16k, high 15k.

it wasn't obvious to me

Bitcoin is a device for transferring money from the impatient to the patient

that is going on a sticky note on my chart monitor...lol

[Neo_Coin]

[Neo_Coin]

[jbreher]

Ok, as of right now, the price to send a transaction in the next block is about 140 satoshis per byte

Where are you getting your data? It seems off. Way off.

According to estimatefees.com, to get 2 block confirmation, you'll need to spend 953 sat/B. $45.98 USD for a current average tx of 374 bytes.

According to earn.com, to get 1-4 block confirmation, you'll need to spend 440+ sat/B.

https://bitcoinexchangerate.org/fees: Next block   $37.35   sat268798   BTC0.00268799

https://bitcoinfees.github.io/#1m: 948 sat/B

FACT CHECK INDEED.

Whether you like it or not the mem pool was until the last few blocks clearing down to 140 sats. We seem to have a slight bump in Xmas traffic in the last few minutes.  Feel free to quote fee estimators that are horribly wrong and suit your agenda.

https://preview.ibb.co/hxzeH6/CBC6_BCDD_6_D20_41_AE_A4_CC_D6_B78_A59923_A.jpg

I can't really speak to which of these estimators are right or wrong. But when all the leading sources for this figure return such divergent results, you've got evidence of a broken system.

[alexeft]

Merry Christmas to all!

[HairyMaclairy]

Ok, as of right now, the price to send a transaction in the next block is about 140 satoshis per byte

Where are you getting your data? It seems off. Way off.

According to estimatefees.com, to get 2 block confirmation, you'll need to spend 953 sat/B. $45.98 USD for a current average tx of 374 bytes.

According to earn.com, to get 1-4 block confirmation, you'll need to spend 440+ sat/B.

https://bitcoinexchangerate.org/fees: Next block   $37.35   sat268798   BTC0.00268799

https://bitcoinfees.github.io/#1m: 948 sat/B

FACT CHECK INDEED.

Whether you like it or not the mem pool was until the last few blocks clearing down to 140 sats. We seem to have a slight bump in Xmas traffic in the last few minutes.  Feel free to quote fee estimators that are horribly wrong and suit your agenda.

https://preview.ibb.co/hxzeH6/CBC6_BCDD_6_D20_41_AE_A4_CC_D6_B78_A59923_A.jpg

I can't really speak to which of these estimators are right or wrong. But when all the leading sources for this figure return such divergent results, you've got evidence of a broken system.

It’s a fact that the mem pool was clearing down to 140 sat transactions.  For all I know, the fee estimators you quoted are run by Bcash shills.  

No one should be surprised if Bcash shills spread false data.

[jbreher]

Ok, as of right now, the price to send a transaction in the next block is about 140 satoshis per byte

Where are you getting your data? It seems off. Way off.

According to estimatefees.com, to get 2 block confirmation, you'll need to spend 953 sat/B. $45.98 USD for a current average tx of 374 bytes.

According to earn.com, to get 1-4 block confirmation, you'll need to spend 440+ sat/B.

https://bitcoinexchangerate.org/fees: Next block   $37.35   sat268798   BTC0.00268799

https://bitcoinfees.github.io/#1m: 948 sat/B

FACT CHECK INDEED.

Whether you like it or not the mem pool was until the last few blocks clearing down to 140 sats. We seem to have a slight bump in Xmas traffic in the last few minutes.  Feel free to quote fee estimators that are horribly wrong and suit your agenda.

https://preview.ibb.co/hxzeH6/CBC6_BCDD_6_D20_41_AE_A4_CC_D6_B78_A59923_A.jpg

I can't really speak to which of these estimators are right or wrong. But when all the leading sources for this figure return such divergent results, you've got evidence of a broken system.

It’s a fact that the mem pool was clearing down to 140 sat transactions.

How do you know that your source of data is accurate?

For all I know, the fee estimators you quoted are run by Bcash shills.  

I guess it's possible. Seems rather unlikely. I just listed the first ones returned by a google search.

Got any evidence to go with your wild-ass conjecture?

No one should be surprised if Bcash shills spread false data.

...reaching...

[LewisPirenne]

This is just to note that just as people can pump and manipulate BTC price, they can pump and manipulate fee market too.  So now if people don't want to get fleeced, they got to look at distribution of pending tx in mempool too.  

Since now we have people still sending out large batches of 1K satoshi/byte txs when mempool was down to 140 satoshi/byte range.  So fee estimator can be way off.  Also, there is only a handful of block found 2~4 hours ago, in fact only 1 block was found in the entire hour, that will screw up the fee estimator even more as those 1K satoshi fee tx do come out in batches and if no blocks are found regularly, they eat up more and more of space in the next block.  But BTC.TOP did just shift back most of their hashrate to BTC chain now, so more blocks will probably be found.  But it's kind of scary just to see how much hashrate Chinese mining cartel controls now and it is still going up fast.

P.S.  This is a good site to see the fee distribution of TX, check it before sending out tx so that people don't overpay.

https://bitcoinfees.earn.com/

Naturally as many people pointed out, a visual version is here.

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

There are also fee estimators directly on Chinese mining pool websites.  Necessary because people might want to use their tx accelerator to pay those "out of band" fee.

As people can see, those 1K satoshi tx is sitting at one end, with almost nothing in between, but as network clogs up, it will "help" to shift the fee back up again.

[milkshock100]

Looks like bitcoin is giving us our Christmas presents