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Question: How far will this leg take us?
$110K - 7 (7.9%)
$120K - 15 (16.9%)
$130K - 13 (14.6%)
$140K - 9 (10.1%)
$150K - 15 (16.9%)
$160K - 1 (1.1%)
$170K+ - 29 (32.6%)
Total Voters: 89

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26798338 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 1 users with 9 merit deleted.)
becoin
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August 24, 2015, 06:27:17 PM

i never ever thought that 2 persons had so much influence about bitcoin to destroy it Shocked
It's not 2 persons. It's 2 agencies behind those 2 persons.
spooderman
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August 24, 2015, 06:30:33 PM

If everyone keeps selling BTC and Apple I'll soon own most of both. Then I can use the $150 Billion of Apple cash to buy BTC. Maybe then the BTC price will go up.

Nice.

buying
Fakhoury
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August 24, 2015, 06:32:25 PM

Elwar
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August 24, 2015, 06:33:51 PM

I'm still buying and holding. Am I the only one buying today?

Transferred several thousand to the exchange Friday...still waiting for it to go through.
chromosoma
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August 24, 2015, 06:40:26 PM

Still mining Bitcoins with this new methode!
 https://www.youtube.com/watch?v=kd8dvgErQ14
Fatman3001
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August 24, 2015, 06:44:26 PM

starting to think there no need to increase block size limit because bitcoin will soon not be used at all

Despair?

JorgeStolfi
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August 24, 2015, 06:47:25 PM

Other than the spam attack average block size at around 0.4 MB.  Absolutely no where near full blocks

If you look at the last 2 years you will see that the daily average it has doubled in the last 12 months.  Even if the growth is linear rather than exponential, if it continues at that pace it will be 0.60  MB/block by mid-2016.

On the other hand, the stress tests showed that the actual capacity of the network is only 0.75 MB/block.  And since traffic is not uniform over the day and over the week, there will start to be recurrent "traffic jams" well before the traffic reaches capacity; maybe as soon as mid-2016.

Moreover, a "spam attack" now is very cheap because the attacker only needs to generate more than the average free capacity, that is 0.35 MB/block, to create a permanent traffic jam.  By mid-2016, he will need only 0.15 MB/block.

The Blockstream devs know this, for sure.  Why don't they care?

Quote
let alone blocks 18 times bigger than the current.

The blocks will not get 18 times bigger with BIP101.  The will continue to be 0.40 MB now, and will continue to grow at the same pace as they would with 1 MB limit.  The effect of BIP101 will start to be felt only sometime in the first half of 2016, when traffic will get to 0.55 MB/block close to the 0.75 MB capacity.  With the 1 MB limit, there would start to be recurrent jams and long waits; whereas, with the 8 MB limit, the traffic will just continue growing beyond that value, at its natural rate, and maybe reach 1 MB/block in 2017.

Quote
Most of the space is spam and dust anyway so even if we had full blocks the correct fee would get your transaction through no problem.  

That is true.  If a minimum fee of (say) 0.001 BTC = 0.20 USD was imposed on each transaction, the traffic would probably drop by 80% or more, and the block size limit would not be a pressing issue for a couple of years, at least.  But neither camp wants to see hat, for several reasons...
Master mind
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August 24, 2015, 06:50:54 PM

Why we can not see all BTC buy orders on exchanges ??
adamstgBit
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August 24, 2015, 06:52:11 PM

talk about block size limit is getting more and more Insane. conspiracy theories everywhere!
inca
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August 24, 2015, 06:53:15 PM

Other than the spam attack average block size at around 0.4 MB.  Absolutely no where near full blocks

If you look at the last 2 years you will see that the daily average it has doubled in the last 12 months.  Even if the growth is linear rather than exponential, if it continues at that pace it will be 0.60  MB/block by mid-2016.

On the other hand, the stress tests showed that the actual capacity of the network is only 0.75 MB/block.  And since traffic is not uniform over the day and over the week, there will start to be recurrent "traffic jams" well before the traffic reaches capacity; maybe as soon as mid-2016.

Moreover, a "spam attack" now is very cheap because the attacker only needs to generate more than the average free capacity, that is 0.35 MB/block, to create a permanent traffic jam.  By mid-2016, he will need only 0.15 MB/block.

The Blockstream devs know this, for sure.  Why don't they care?

Quote
let alone blocks 18 times bigger than the current.

The blocks will not get 18 times bigger with BIP101.  The will continue to be 0.40 MB now, and will continue to grow at the same pace as they would with 1 MB limit.  The effect of BIP101 will start to be felt only sometime in the first half of 2016, when traffic will get to 0.55 MB/block close to the 0.75 MB capacity.  With the 1 MB limit, there would start to be recurrent jams and long waits; whereas, with the 8 MB limit, the traffic will just continue growing beyond that value, at its natural rate, and maybe reach 1 MB/block in 2017.

Quote
Most of the space is spam and dust anyway so even if we had full blocks the correct fee would get your transaction through no problem.  

That is true.  If a minimum fee of (say) 0.001 BTC = 0.20 USD was imposed on each transaction, the traffic would probably drop by 80% or more, and the block size limit would not be a pressing issue for a couple of years, at least.  But neither camp wants to see hat, for several reasons...

Yep it seems to be widely promulgated by 'small blockers' that increasing the max_blocksize will immediately lead to 8mb blocks and instant centralisation of bitcoin nodes.

Shorts up to 19,655 on finex now.
LFC_Bitcoin
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August 24, 2015, 06:55:11 PM

I'm still buying and holding. Am I the only one buying today?

I'm still here brother. HODLING for at least 5, maybe 10+ years.
Going to buy another 3 or 4 bitcoins Friday on payday, you have to at these prices.

When there's blood in the streets --------> BUY
Master mind
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August 24, 2015, 06:55:30 PM

talk about block size limit is getting more and more Insane. conspiracy theories everywhere!

Soon will be all millions of lost btc on exchange  Grin
adamstgBit
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August 24, 2015, 06:56:24 PM

I'm still buying and holding. Am I the only one buying today?

I'm still here brother. HODLING for at least 5, maybe 10+ years.
Going to buy another 3 or 4 bitcoins Friday on payday, you have to at these prices.

how can you hodl when bitcoins future hangs in the balance

the sky is falling!
LFC_Bitcoin
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August 24, 2015, 06:57:32 PM

I'm still buying and holding. Am I the only one buying today?

I'm still here brother. HODLING for at least 5, maybe 10+ years.
Going to buy another 3 or 4 bitcoins Friday on payday, you have to at these prices.

how can you hodl when bitcoins future hangs in the balance

the sky is falling!

Leave the FUD alone Adam. Be strong when those around you are weak.
gentlemand
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August 24, 2015, 06:57:46 PM


how can you hodl when bitcoins future hangs in the balance

the sky is falling!

Pah. I am an ICE MAN. Or I just don't give much of a shit any more. Hard to tell.
Master mind
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August 24, 2015, 06:58:27 PM

I'm still buying and holding. Am I the only one buying today?

I'm still here brother. HODLING for at least 5, maybe 10+ years.
Going to buy another 3 or 4 bitcoins Friday on payday, you have to at these prices.

When there's blood in the streets --------> BUY

Master mind
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August 24, 2015, 06:59:54 PM

I'm still buying and holding. Am I the only one buying today?

I'm still here brother. HODLING for at least 5, maybe 10+ years.
Going to buy another 3 or 4 bitcoins Friday on payday, you have to at these prices.

how can you hodl when bitcoins future hangs in the balance

the sky is falling!

Leave the FUD alone Adam. Be strong when those around you are weak.

Morecoin Freeman
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August 24, 2015, 07:02:26 PM

I'm still buying and holding. Am I the only one buying today?

I'm still here brother. HODLING for at least 5, maybe 10+ years.
Going to buy another 3 or 4 bitcoins Friday on payday, you have to at these prices.

When there's blood in the streets --------> BUY

Hang in there buddy. Smiley
ChartBuddy
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August 24, 2015, 07:02:40 PM

Coin
Explanation

Master mind
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August 24, 2015, 07:03:38 PM

I'm still buying and holding. Am I the only one buying today?

I'm still here brother. HODLING for at least 5, maybe 10+ years.
Going to buy another 3 or 4 bitcoins Friday on payday, you have to at these prices.

When there's blood in the streets --------> BUY

Hang in there buddy. Smiley

Soon will be all millions of lost btc on exchange



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