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

[Fatman3001]

This is still a slippery slope argument. You're assuming that the Bitcoin ecosystem is so stupid that they will adopt just any change no matter how destructive it would be.

It's not stupidity. It's just that most people in the ecosystem are formulating an opinion based on a fraction of the data and possible implications.

If so, then Bitcoin is doomed anyways and we should just all give up. If there are no arguments pro core and/or against this XT implementation then I don't see what you're trying to say here.

I'm saying leave the experts of the core team to do their work. They know what to do and they're doing it well.

PS. You can disagree with Gavin, but to suggest that he doesn't know what he's doing warrants a bit of an explanation. I would be very interested to hear how he went from chief scientist to bumbling ignoramus.

Well, if avg block size is currently at 0.4mb (and even that is full of dust / spam txs which will be wiped out once fee competition starts for 1mb inclusion) and he says we "urgently" need 8mb and that's a very serious reason to fork it while in the process creating a rift among the devs and risking market uncertainty, well... you don't need to be a rocket scientist to realize that something very fishy is going on.

I don't believe he doesn't know what he is doing. He probably knows full well. It's the whole false rationale, motives and modus operandi that I'm having issues with.

If you look at the number of transactions between Jul 2013 and Jan 2014 there is a period where the number of transactions excluding popular addresses doubles. What I see is that if we get another bull run like that, the blocksize will probably hit the ceiling. So there is a bit of urgency to it.

Now, we might not have another bull run any time soon, but in case it happens next month I'd like to see that somebody has a solution lined up. And at this point I fear that a fee hike might strangle Bitcoin in its infancy.

In any event, why do we have to wait until the house is on fire before we buy a fire extinguisher?

And if you, and everyone else who are such gung ho core loyalists, really believe Gavin has a hidden agenda, could you please tell me what that agenda is thought to be? There's a lot of cloudy insinuations, but nothing really to suggest that he wants anything else than what he deems to be best for Bitcoin.

[jnada]

I personally don't care about the price.  What's important to me is that Bitcoin has succeeded in removing the human factor from the money equation.  No longer must we depend on fallible (and corrupt) humans, these so-called "experts":  Bitcoin--world's smartest and greatest supercomputer--is fully automated!
Algorithmically guided by maths and powered by human greed!

And as long only two bitcoin believers exist in this world this currency succeded.

Ave greed!

[ChartBuddy]

Coin
Explanation

[adamstgBit]

This is still a slippery slope argument. You're assuming that the Bitcoin ecosystem is so stupid that they will adopt just any change no matter how destructive it would be.

It's not stupidity. It's just that most people in the ecosystem are formulating an opinion based on a fraction of the data and possible implications.

If so, then Bitcoin is doomed anyways and we should just all give up. If there are no arguments pro core and/or against this XT implementation then I don't see what you're trying to say here.

I'm saying leave the experts of the core team to do their work. They know what to do and they're doing it well.

PS. You can disagree with Gavin, but to suggest that he doesn't know what he's doing warrants a bit of an explanation. I would be very interested to hear how he went from chief scientist to bumbling ignoramus.

Well, if avg block size is currently at 0.4mb (and even that is full of dust / spam txs which will be wiped out once fee competition starts for 1mb inclusion) and he says we "urgently" need 8mb and that's a very serious reason to fork it while in the process creating a rift among the devs and risking market uncertainty, well... you don't need to be a rocket scientist to realize that something very fishy is going on.

I don't believe he doesn't know what he is doing. He probably knows full well. It's the whole false rationale, motives and modus operandi that I'm having issues with.

If you look at the number of transactions between Jul 2013 and Jan 2014 there is a period where the number of transactions excluding popular addresses doubles. What I see is that if we get another bull run like that, the blocksize will probably hit the ceiling. So there is a bit of urgency to it.

Now, we might not have another bull run any time soon, but in case it happens next month I'd like to see that somebody has a solution lined up. And at this point I fear that a fee hike might strangle Bitcoin in its infancy.

In any event, why do we have to wait until the house is on fire before we buy a fire extinguisher?

And if you, and everyone else who are such gung ho core loyalists, really believe Gavin has a hidden agenda, could you please tell me what that agenda is thought to be? There's a lot of cloudy insinuations, but nothing really to suggest that he wants anything else than what he deems to be best for Bitcoin.

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Core devs are invested in blockstream, without a block limit their project is pretty useless

[adamstgBit]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

[becoin]

Core devs are invested in blockstream, without a block limit their project is pretty useless

Without a block limit the whole bitcoin project is pretty useless.

[marcotheminer]

China is buying it up right now!

[adamstgBit]

Core devs are invested in blockstream, without a block limit their project is pretty useless

Without a block limit the whole bitcoin project is pretty useless.

lol tell that to satoshi, he intended to have no block size limit,  block size limit was a quick fix to possible spam attack while coins where pretty useless.

[pinky]

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Haven't you heard that he was selling his bitcoins and buying stocks?

In article from January:

While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead.

https://i.imgur.com/OEC7s6Y.jpg

[Fakhoury]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

Then

[klee]

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Haven't you heard that he was selling his bitcoins and buying stocks?

In article from January:

While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead.

https://i.imgur.com/OEC7s6Y.jpg

Gavin??? NOOOOOOOO!!!!!!! Never!!!!

Right guys??...  

[marcotheminer]

Correction on CNY/BTC.

[smoothie]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

Why don't you just do it and release the source compile it on your end and run it?

[adamstgBit]

Gavin owns alot of coins, he's doing what he thinks is necessary for the survival of bitcoin

Haven't you heard that he was selling his bitcoins and buying stocks?

In article from January:

While Mr Andresen tries to prepare bitcoin for mass usage, he advises caution to investors. He holds thousands of bitcoins, enough to retire comfortably. But he has been cashing them in slowly, investing in stock market funds instead.

https://i.imgur.com/OEC7s6Y.jpg

Gavin??? NOOOOOOOO!!!!!!! Never!!!!

Right guys??...  

lol like you haven't done the exact same thing.

wtv i would much rather go with Core, but we need at least a small bump in block limit, if for nothing else but to crush XT and put this BS behind us

[klee]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

Why don't you just do it and release the source compile it on your end and run it?

Fork the XT fork back to Core and then upgrade the Core like this! Do it Adam! Save Bitcorn Bitcoin

[smoothie]

Core devs are invested in blockstream, without a block limit their project is pretty useless

Without a block limit the whole bitcoin project is pretty useless.

That's like saying as long is there is a cap on how many websites the Internet can handle the Internet is pretty useless.

Bitcoin needs to stand on its own two feet. Lifting the cap entirely will force miners to use larger blocks at their own discretion and risk getting orphaned when choosing to create a block too big before someone creates a valid block.

[adamstgBit]

this is what everyone will look like when Core decieds to up the limit a bit



don't disappoint Everyone core devs

UP THE LIMIT TO 2FUCKING MEGABYTES YOU SONS OF BITCHES

Why don't you just do it and release the source compile it on your end and run it?

i'm not setup to compile bitcoin.... its a shame because i could.

[adamstgBit]

Core devs are invested in blockstream, without a block limit their project is pretty useless

Without a block limit the whole bitcoin project is pretty useless.

That's like saying as long is there is a cap on how many websites the Internet can handle the Internet is pretty useless.

Bitcoin needs to stand on its own two feet. Lifting the cap entirely will force miners to use larger blocks at their own discretion and risk getting orphaned when choosing to create a block too big before someone creates a valid block.

fuck ya, block size limit? what block size limit?

prefect!

[klee]

Now let's test 250 to keep everyone happy! (It probably will  )

[smoothie]

Core devs are invested in blockstream, without a block limit their project is pretty useless

Without a block limit the whole bitcoin project is pretty useless.

That's like saying as long is there is a cap on how many websites the Internet can handle the Internet is pretty useless.

Bitcoin needs to stand on its own two feet. Lifting the cap entirely will force miners to use larger blocks at their own discretion and risk getting orphaned when choosing to create a block too big before someone creates a valid block.

fuck ya, block size limit? what block size limit?

prefect!

Prefect!!