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

[podyx]

Unannounced stress test using .0002 btc fees. It apparently set a record for tx/s at one point with... if I remember correctly, something like 147 tx/s

How? Can bitcoin handle more then 7tx/s for the moment?

[medialab101]

Unannounced stress test using .0002 btc fees. It apparently set a record for tx/s at one point with... if I remember correctly, something like 147 tx/s

How? Can bitcoin handle more then 7tx/s for the moment?

That's an average 7tx/s. Btc can handle much more in bursts, depends on the timing between blocks. For example, if two or more blocks were found in quick succession and were full, there would be a high number of tx/s for that time frame.

[BlindMayorBitcorn]

It still wouldn't surprise me if the idiot dumpers would take us right back to 220.
I can totally see it happen.

when it happens will it break your moral ?? what will be your response ??

[BitofaN1]

Unannounced stress test using .0002 btc fees. It apparently set a record for tx/s at one point with... if I remember correctly, something like 147 tx/s

Also, coinbase and finex were both down briefly today and huobi still hasn't recovered as of yet.Also,price is taking a nose dive.I'm not much for tinfoil hats, but dayum!!!

[Chalkbot]

Unannounced stress test using .0002 btc fees. It apparently set a record for tx/s at one point with... if I remember correctly, something like 147 tx/s

How? Can bitcoin handle more then 7tx/s for the moment?

That's an average 7tx/s. Btc can handle much more in bursts, depends on the timing between blocks. For example, if two or more blocks were found in quick succession and were full, there would be a high number of tx/s for that time frame.

Exactly. I believe the 7tx/s figure is the average to fill a block (1MB) over the course of the average block time (10 minutes). If, for example there were no transactions for 9 minutes and 59 seconds, "Bitcoin" could handle 4200 tx/s.... for that last one second.

[Hyperjacked]

It still wouldn't surprise me if the idiot dumpers would take us right back to 220.
I can totally see it happen.

when it happens will it break your moral ?? what will be your response ??

I would say thank you for the buying opportunity and mix another Gin and Tonic! What would your response be?   
 

[plopper50]

Unannounced stress test using .0002 btc fees. It apparently set a record for tx/s at one point with... if I remember correctly, something like 147 tx/s

Also, coinbase and finex were both down briefly today and huobi still hasn't recovered as of yet.Also,price is taking a nose dive.I'm not much for tinfoil hats, but dayum!!!

I feel sorry for the Chinese Huobi users. Their stock market is crashing by trillions and now when Bitcoins going down they can't log into Huobi to put a dump order on. That must be so frustrating. Some of them might have been counting on their Bitcoin gains to offset their loses on the stock market, and they can't lock their profits in with Huobi down.

[ChartBuddy]

Coin
Explanation

[billyjoeallen]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

[podyx]

Unannounced stress test using .0002 btc fees. It apparently set a record for tx/s at one point with... if I remember correctly, something like 147 tx/s

How? Can bitcoin handle more then 7tx/s for the moment?

That's an average 7tx/s. Btc can handle much more in bursts, depends on the timing between blocks. For example, if two or more blocks were found in quick succession and were full, there would be a high number of tx/s for that time frame.

I see, it must handle considerably more than 147 in that case. 5,000 perhaps.

[Nhonho]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

With no money, no way for the Greeks buy BTC.


Most greeks are buying only food and don't paying for other expenses, I don't think they will invest in anything until the situation gets better

[podyx]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

With no money, no way for the Greeks buy BTC.


Most greeks are buying only food and don't paying for other expenses, I don't think they will invest in anything until the situation gets better

Now perhaps, but what about in 1 or 2 years?

Or what about when they tell their kids not to trust banks after what they wen't through?

[dannyspk]

300s today.

[ejinte]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

Greek banks will be closed tomorrow.


And in the mean time idiot dumpers keeps dumping.

Hello idiot dumpers buying back above.

Can you believe there are still people dumping?

[dannyspk]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

Greek banks will be closed tomorrow.


And in the mean time idiot dumpers keeps dumping.

Hello idiot dumpers buying back above.

Can you believe there are still people dumping?

There are no 'dumpers'. Just profit takers, buddy.

[tempus]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

I don't think they will reopen this week. It's all about the ECB and if they will give higher Emergency Liquidity Assistance or not and they use it to make pressure on Greece. With other words: They (presumably) give as much as needed that the banks won't go into complete bankruptcy but not enough to open the banks and/or to remove capital controls.

So, the Greek government is under much pressure. It's like poker... and it will be a blame game. It's possible that there is already a decision for the Greek-bankruptcy. In that case other states will say "no" to any suggestion of the Greeks, the ECB won't give more ELA and time would do the rest. Than they would say: The Greek-government is to blame, because their suggestions were not acceptable and they didn't accept the austerity-plans.

That's just a theoretical scenario but it's possible I think. But either way, there won't be a solution the next days. The german government needs two votings. One for new negotiations and the second to agree or disagree if there should be an arrangement between Greece and the other states and institutes (like IMF).

The other scenario is that Merkel is bluffing but would and will agree the Greek-suggestions... but her problem is that many representatives of her own party won't agree. She would get a majority in any way, but she always wants a "own-majority".

Under the line: The End-result is unpredictable I think, but that they'll make much pressure on greece is predictable and the ELA is a useful tool to hold the pressure. And furthermore: It's not so easy for the ECB to raise it, because it's already against their own law.


Regarding Bitcoin: I don't believe that the Greeks will have much influence on the price in a direct way. But maybe indirect about falling stock-markets and psychology, because the expectation could be that they could raise the price.


Edit: ELA: https://www.ecb.europa.eu/mopo/ela/html/index.en.html

[rolling]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

Greek banks will be closed tomorrow.


And in the mean time idiot dumpers keeps dumping.

Hello idiot dumpers buying back above.

Can you believe there are still people dumping?

There are no 'dumpers'. Just profit takers, buddy.

There is no profit when selling bitcoin. You're looking at it backwards. The only profit is more bitcoin. If you keep selling and buying back in higher, you are losing money.

[dannyspk]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

Greek banks will be closed tomorrow.


And in the mean time idiot dumpers keeps dumping.

Hello idiot dumpers buying back above.

Can you believe there are still people dumping?

There are no 'dumpers'. Just profit takers, buddy.

There is no profit when selling bitcoin. You're looking at it backwards. The only profit is more bitcoin. If you keep selling and buying back in higher, you are losing money.

There is profit if you can get more Bitcoin. I hear what you mean.

[spooderman]

What happens if Greek banks don't reopen tomorrow? I'm giving them only a 15% chance of opening.

Those banks can't handle even one full day of withdrawals. depositor's haircuts?

What happens after banks are closed for two weeks? Civil unrest? riots?

"OXI" on the referendum is not the end of the story. It's just getting started.

Greek banks will be closed tomorrow.


And in the mean time idiot dumpers keeps dumping.

Hello idiot dumpers buying back above.

Can you believe there are still people dumping?

*SOON I WILL LEAVE THIS PLACE* meme

[ChartBuddy]

Coin
Explanation