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

[Fakhoury]

There will be time when Chinese exchanges will be irrelevant!

Care to elaborate more please

[marcus_of_augustus]

Every time the big block, big brother, panopticoin bitcoiners come out in full force the price dumps ... any wonder?

The market is just coiling like a spring, ready to explode once all participants realize a maximum of 3 tx per second, forever, is CRITICAL for bitcoin's success

300,000 tx per day is actually not bad for a settlement rail. Growing within upload bandwidth limits puts us at 1.2 million tx per day currently and doubling roughly every 4 years.

No need to hand over all our financial histories to the PanoptiCoin mike H. and his Googley-eyed buddies at the NSA.

[Cconvert2G36]

Every time the big block, big brother, panopticoin bitcoiners come out in full force the price dumps ... any wonder?

The market is just coiling like a spring, ready to explode once all participants realize a maximum of 3 tx per second, forever, is CRITICAL for bitcoin's success

300,000 tx per day is actually not bad for a settlement rail. Growing within upload bandwidth limits puts us at 1.2 million tx per day currently and doubling roughly every 4 years.

No need to hand over all our financial histories to the PanoptiCoin mike H. and his Googley-eyed buddies at the NSA.

Your complete financial history has been on the public blockchain from the first transaction you made. I don't see how 2MB blocks would change this.

[dakota neat]

Your complete financial history has been on the public blockchain from the first transaction you made. I don't see how 2MB blocks would change this.

use darkwallet then.

bitcoin is a protocol. we can build apps to solve specific problems.

[marcus_of_augustus]

Every time the big block, big brother, panopticoin bitcoiners come out in full force the price dumps ... any wonder?

The market is just coiling like a spring, ready to explode once all participants realize a maximum of 3 tx per second, forever, is CRITICAL for bitcoin's success

300,000 tx per day is actually not bad for a settlement rail. Growing within upload bandwidth limits puts us at 1.2 million tx per day currently and doubling roughly every 4 years.

No need to hand over all our financial histories to the PanoptiCoin mike H. and his Googley-eyed buddies at the NSA.

Your complete financial history has been on the public blockchain from the first transaction you made. I don't see how 2MB blocks would change this.

Only the biggest corporations (and TLAs) who can run PanoptiCoin nodes will have privacy ... and an asymetric information advantage over the plebes.

[ChartBuddy]

Coin
Explanation

[Cconvert2G36]

Only the biggest corporations (and TLAs) who can run PanoptiCoin nodes will have privacy ... and an asymetric information advantage over the plebes.

Those that are committed enough to run a full node handling 1MB blocks, will likely retain the same commitment with 2MB blocks. I'm not buying the argument that any increase in throughput automatically leaves us with a handful of nodes run by corporations and governments.

I am in favor a small increase, like Jeff's 2MB. Mainly to break the ice that has formed over this polarizing debate and to measure and study the impact in preparation for more long term scaling solutions. 

[marcus_of_augustus]

Only the biggest corporations (and TLAs) who can run PanoptiCoin nodes will have privacy ... and an asymetric information advantage over the plebes.

Those that are committed enough to run a full node handling 1MB blocks, will likely retain the same commitment with 2MB blocks. I'm not buying the argument that any increase in throughput automatically leaves us with a handful of nodes run by corporations and governments.

I am in favor a small increase, like Jeff's 2MB. Mainly to break the ice that has formed over this polarizing debate and to measure and study the impact in preparation for more long term scaling solutions. 

Yeah I think we can handle 2 MB or maybe even a hike to 4 MB, if it was held there for at least 3-4 years.

Doubling every 4 years, i.e. at rate of upload bandwidth limit growth, makes sense for the next 5-10 years ... and then who knows. Quantum computers or whatever next best cryptocoin is always the unknowable just around the corner anyway.

Not sure if we can defend 8MB and growing rapidly though, looks like a slippery slope trap!

[WhatsBitcoin]

Where's 300? What happened? Somebody skip lunch?

I want details!

[SheHadMANHands]

Community really coming together around block size increase. 

Bullish for bitcoin.   

[solex]

Yeah I think we can handle 2 MB or maybe even a hike to 4 MB, if it was held there for at least 3-4 years.

Doubling every 4 years, i.e. at rate of upload bandwidth limit growth, makes sense for the next 5-10 years ... and then who knows.

Marcus, what you say is very reasonable.
Although I have been supporting "increase the limit" all the while I wanted to see a counter-proposal from core dev which was something other than keep 1MB and see what happens. They did not even show much enthusiasm for Jeff's BIP 102, or even reworking it in some way.

[LordAkira]

Hey, guys. I'm very, very happy with how the bitcoin price is holding up. Even if there is a dip below $250, if, time is running out on the bears. The halving is coming, we're going for a moonshot. I wanted to post a train going in the moon's general direction... but it seems that you guys are sick of those. So here's an excerpt from the classic manga "Akira" involving the moon.

https://i.imgur.com/7v1xeDe.jpg

[lyth0s]

This sideways and slightly upward movement breaking the downtrend from 2013 is better than the alternative.

[jaberwock]

Every time the big block, big brother, panopticoin bitcoiners come out in full force the price dumps ... any wonder?

The market is just coiling like a spring, ready to explode once all participants realize a maximum of 3 tx per second, forever, is CRITICAL for bitcoin's success

300,000 tx per day is actually not bad for a settlement rail. Growing within upload bandwidth limits puts us at 1.2 million tx per day currently and doubling roughly every 4 years.

No need to hand over all our financial histories to the PanoptiCoin mike H. and his Googley-eyed buddies at the NSA.

Your complete financial history has been on the public blockchain from the first transaction you made. I don't see how 2MB blocks would change this.

Use mixers, don't associate your address with your identity, use offchain transactions, there are always workarounds

But without bigger blocks may be difficult to store your transactions in the blockchain if the block limit stays at 1 MB if the transaction volume increases, as the stress tests demonstrated

[marcus_of_augustus]

Yeah I think we can handle 2 MB or maybe even a hike to 4 MB, if it was held there for at least 3-4 years.

Doubling every 4 years, i.e. at rate of upload bandwidth limit growth, makes sense for the next 5-10 years ... and then who knows.

Marcus, what you say is very reasonable.
Although I have been supporting "increase the limit" all the while I wanted to see a counter-proposal from core dev which was something other than keep 1MB and see what happens. They did not even show much enthusiasm for Jeff's BIP 102, or even reworking it in some way.

All the while championing Gavin and Mike's PanoptiCoin on scamming-shill frap.docs's sad old echo-chamber thread ... so w/e you say.

Made your bed, time to lie in it.

[Tzupy]

I think this should count as bearish news:
http://www.coindesk.com/survey-consumers-bitcoin-inconvenient-checks/

[Mayer Amschel]

LTC almost hitting 4.4 support on OKCOIN. Lets see

[notme]

I think this should count as bearish news:
http://www.coindesk.com/survey-consumers-bitcoin-inconvenient-checks/

Surprise surprise... a payment method that most people don't accept is viewed as inconvenient.

[noobtrader]

I think this should count as bearish news:
http://www.coindesk.com/survey-consumers-bitcoin-inconvenient-checks/

any news is good news for bitcoin, anyway bullish news  has been brutal to btc price lately anyway...

ahem... someone just dump 500 btc is that you ?

[Mayer Amschel]

aaaand here comes 250