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

[JayJuanGee]

@JJG - You must have paid ridiculously low fees on those transactions.

When they came back, there were no fees.... everything came back. The main reason that I remember was because I kept thinking that this is not supposed to happen.. .so I still have not figured out why it happen because I did not do anything like attempting to employ Replace By Fee (RBF) or anything like that.

[El duderino_]

@BitmexLegend
The next bull market is about to start if you are still ignoring bitcoin you are about to miss one of the largest bubbles of mankind $BTC

https://twitter.com/bitmexlegend/status/1183444014390841345?s=21

If you don’t have any BTC what the fuck are you doing with your life?

[JayJuanGee]

This new tweet from PlanB reminded me of the method of crossings, which is applied in calculus, they call it "The Cemetery method".

Great analysis for negotiating data in these 10 years of history.

I need a bit more  explanation in order to attempt to get closer to understanding what is significant about this way of attempting to arrange the data.  In other words, I cannot really appreciate what the chart is saying.. it just looks like a clumping blob of colors.

[LFC_Bitcoin]

@BitmexLegend
The next bull market is about to start if you are still ignoring bitcoin you are about to miss one of the largest bubbles of mankind $BTC

https://twitter.com/bitmexlegend/status/1183444014390841345?s=21

If you don’t have any BTC what the fuck are you doing with your life?

Mic, if I had £1 for every time I have checked the price waiting for the MOON I’d be a multi millionaire already

[JayJuanGee]

Just withdrew the corn I bought earlier today. Man, feels good to see my TREZOR balance rise!

"Buy BTC, HoDL, wait, ∞!"^TM

---

Edit: Took 50 minutes to confirm. Not the best performance, but the fee was quite low. All good!

As long as the fee isn’t super low use this - https://pool.viabtc.com/tools/txaccelerator

When we were in the last parabolic rise & Roger was spamming the network I sent a few transactions with a fairly high amount of coins & fucked up by not manually setting my fees. It was taking forever so I used the above. It’s a good service & free.

Thanks LFC, never used a Tx accelerator before, but have heard of them. Good to know that it worked when you tried it, will keep it handy.

The important thing is that, no matter how long they take, all transactions eventually confirm, which shows the super-robustness of the Bitcoin network. For all practical purposes, Bitcoin confirmations are "irreversible certainties". And way faster and cheaper than any fiat Tx...  

Thanks! I'll save that, might be useful.
I noticed its run by big block community as seen in their solution. Roger and friends may actually carve out a unique spot for themselves   

What should we do to solve jam problem
Essentially, the key to solving jam problem is to increase or even remove block size limit but Bitcoin Core developers keep refusing to do so to allow more people to use Bitcoin, regardless of the Bitcoin white paper and signed consensus.
In this case, a group of big block supporters initiated the first hard fork of Bitcoin increased the block size to 8MB, with a forked digital asset born - Bitcoin Cash (BCH).
BCH does all what Bitcoin can and does it better in a more flexible way. What’s more, much lower fees and faster confirmations makes it more user-friendly, following the core principles of “Bitcoin”.
Therefore, we should support Bitcoin Cash and big blocks.

Of course, it is going to be friendly and easy to use if there are hardly anyone using it.  Transactions are going to go through fast as fuck.

[Last of the V8s]

@JJG - You must have paid ridiculously low fees on those transactions.

When they came back, there were no fees.... everything came back. The main reason that I remember was because I kept thinking that this is not supposed to happen.. .so I still have not figured out why it happen because I did not do anything like attempting to employ Replace By Fee (RBF) or anything like that.

Waiting for the network to "forget" about the transaction

If a transaction remains unconfirmed for too long, it can be eventually "forgotten" by most nodes on the Bitcoin network if no one rebroadcasts the transaction. This happens due to node restarts, mempool expiry times, or mempool eviction because the minimum relay fee has increased. This process typically takes a few days (usually 3). Once a transaction has been "forgotten", you may not see it in your wallet and you probably will not see the transaction in most block explorers. Once the transaction has been "forgotten", you can simply send the Bitcoin again but include a higher transaction fee. If you still see the transaction in your wallet, you will need to follow the instructions in the next Replace-By-Fee Section.

Note that some wallets will continuously rebroadcast the transaction while the wallet is on, so you either have to remove the transaction from the wallet using the instructions in the RBF section, or shut down the wallet and keep it off for several days.

[JayJuanGee]

if I had £1 for every time I have checked the price waiting for the MOON I’d be a multi millionaire already

Your conclusion, LFC, is that checking BTC prices "on the regular" does not help you to become more richie in a faster way?

Only helps to confirm that you might be poor?  while NOT knowing why?



.. like our resident troll?  Not sure why he is poor?

[JayJuanGee]

@JJG - You must have paid ridiculously low fees on those transactions.

When they came back, there were no fees.... everything came back. The main reason that I remember was because I kept thinking that this is not supposed to happen.. .so I still have not figured out why it happen because I did not do anything like attempting to employ Replace By Fee (RBF) or anything like that.

Waiting for the network to "forget" about the transaction

If a transaction remains unconfirmed for too long, it can be eventually "forgotten" by most nodes on the Bitcoin network if no one rebroadcasts the transaction. This happens due to node restarts, mempool expiry times, or mempool eviction because the minimum relay fee has increased. This process typically takes a few days (usually 3). Once a transaction has been "forgotten", you may not see it in your wallet and you probably will not see the transaction in most block explorers. Once the transaction has been "forgotten", you can simply send the Bitcoin again but include a higher transaction fee. If you still see the transaction in your wallet, you will need to follow the instructions in the next Replace-By-Fee Section.

Note that some wallets will continuously rebroadcast the transaction while the wallet is on, so you either have to remove the transaction from the wallet using the instructions in the RBF section, or shut down the wallet and keep it off for several days.

That seems to have explained what happened, and it was about 3 days and the transaction disappeared from my wallet.  I am pretty sure that I had used a blockchain.info wallet for that (or those... it seems to have happened more than once, but one of the times might have been a receiving time, so I am not as clear about whether something might have been done on the other end when I was receiving, especially in the circumstance that the guy did not honor the transaction, once it had been discovered to have not gone through to me).

[Searing]

along with their claim of 5nm chips in spring and 3nm chips in development.

We shall see...i am skeptical, but they might deliver something by next summer, which means that current buyers would be largely obliterated.
Bitmain is killing the golden goose aka cutting the branch they are sitting on themselves.
It only takes one large loss to drop out of the mining game alltogether.

They have competition now, they have to keep plants open in some manner to fund their own data halls if customers being secondary to them keeping the

doors open and funding for their research and development. Kinda looks like when Spondoolies went under, not enough demand to keep up with all the above.

They are scrambling like the rest of us at these prices for BTC/Crypto that much is true indeed!

[Raja_MBZ]

DUTCH CENTRAL BANK HINTS AT ECONOMIC RESTART BASED ON GOLD STANDARD

https://bitcoinist.com/dutch-central-bank-hints-at-economic-restart-based-on-gold-standard/

[Raja_MBZ]

OUCH!

EDIT: The bleeding hasn't stopped yet... $250+ down in less than 15 minutes.

[Fatman3001]

OUCH!

EDIT: The bleeding hasn't stopped yet... $250+ down in less than 15 minutes.

Yah, fucked up H&S formed

not a pretty one, but probably means more down

[jojo69]

well

there's our "big move"

[AlcoHoDL]

Just withdrew the corn I bought earlier today. Man, feels good to see my TREZOR balance rise!

"Buy BTC, HoDL, wait, ∞!"^TM

---

Edit: Took 50 minutes to confirm. Not the best performance, but the fee was quite low. All good!

As long as the fee isn’t super low use this - https://pool.viabtc.com/tools/txaccelerator

When we were in the last parabolic rise & Roger was spamming the network I sent a few transactions with a fairly high amount of coins & fucked up by not manually setting my fees. It was taking forever so I used the above. It’s a good service & free.

Thanks LFC, never used a Tx accelerator before, but have heard of them. Good to know that it worked when you tried it, will keep it handy.

The important thing is that, no matter how long they take, all transactions eventually confirm, which shows the super-robustness of the Bitcoin network. For all practical purposes, Bitcoin confirmations are "irreversible certainties". And way faster and cheaper than any fiat Tx...  

I had a couple transactions come back to me in 2017.... so I am not sure what can cause that because I did not do anything besides attempting to send and getting a pending transaction that ended up coming back to my wallet.

You didn't lose any coins, and that's what matters. Bitcoin is probably one of the (if not the) most robust network(s) in the world right now. Satoshi Nakamoto must be very proud of his achievement.

Go BTC, go!

[Lambie Slayer]

Stop dumping guys.

[Ludwig Von]

Stop dumping guys.

Ready to start buying... . 

[makrospex]

well

there's our "big move"

When support moves up and gets stronger, whales are tempted to sell. I wanted to write about that before, but i wasn't sure if i was right (too little experience, you know).

EDIT: This is something i would definitely look for if i wanted to sell for a good price per coin.

[Icygreen]

I'm being told that the major radio and TV broadcasts in Russia (Moscow) now cite the exchange rates of BTC/RUB alongside the usual USD and EURO rates.

While price fluctuates nominally the past weeks, hundred's of thousands if not millions of everyday people are normalizing BTC's place in finance and learning how it can serve them.  This is how adoption happens, I hope everyone's paying attention.

Reminds me of a quote

There is no elevator to success, you have to take the stairs - Zig Ziglar

This most certainly applies to BTC

[BlindMayorBitcorn]

Why fatty doesn't have a hat? Fatty deserves a hat.

[El duderino_]

Why fatty doesn't have a hat? Fatty deserves a hat.

Good someone has humor at DIP time