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

[Cconvert2G36]

if 21 is successful in building this premium internet, the blockchain is going to bloat massively. A blockchain transaction for every pageview. Even BIP101 wouldn't keep up.  Perhaps that's why they support BIP100. They want to increase the blocksize limit FASTER with miner voting.  

and the plot thickens...

Premium internet (wth is that)? For a few cents a day? A majority of mining pools want to scale faster than BIP 101?

Why you always make a few good points and then torpedo them with nonsense?  

[ChartBuddy]

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Explanation

[billyjoeallen]

if 21 is successful in building this premium internet, the blockchain is going to bloat massively. A blockchain transaction for every pageview. Even BIP101 wouldn't keep up.  Perhaps that's why they support BIP100. They want to increase the blocksize limit FASTER with miner voting.  

and the plot thickens...

Premium internet (wth is that)? For a few cents a day? A majority of mining pools want to scale faster than BIP 101?

Why you always make a few good points and then torpedo them with nonsense?  

21 is promoting paying for content directly as opposed to ad-supported content. That is roughly analogous to broadcast TV vs. premium cable.  It's a different business model, but one that can only be done with microtransactions. To continue the metaphor, it would be like paying for cable every time you changed the channel instead of a monthly bill.  Currently, that cost is supported primarily by the block subsidy, and runs at about 65 kWh per transaction. (300 MW mining network, 1.27 transactions per second.) That's about $4 per transaction. Also, at the current 7 TPS (or less) transaction limit,  There couldn't possibly be more than a thousand users of this premium internet before it bogs down and takes our entire network with it.

So the only logical explanation is that 21 plans to dominate mining and vote to increase blocksize faster than BIP101 would do automatically (doubling every two years).

[Fatman3001]

So many narrow minds in this topic. Can't you think of anything else than ROI? I understand that this is top priority in everyone's life, but you just can't apply it to EVERYTHING.

This is a digital currency forum. Besides, it's not like we're discussing ROI on clubbing baby seals.

[ChartBuddy]

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[Fatman3001]

So many narrow minds in this topic. Can't you think of anything else than ROI? I understand that this is top priority in everyone's life, but you just can't apply it to EVERYTHING.

This is a digital currency forum. Besides, it's not like we're discussing ROI on clubbing baby seals.

the ROI there is sealed in astronomical terms

Hehe, sealed.

[Jammalan the Prophet]

Jammalan the Prophet (JTP)  Why don't you share some of your personal details?  In what are you invested?  Anything?  What is your life view?  Have you come here to denigrate others and to suggest that they are wrong about something or did you want to contribute in some meaningful way?  Are you suggesting that BTC prices are going to continue to go down?  if so, by how much and when?  Will the return up or NOT? 

My only "investment" is the family business in which I hold also a position (mainly formal) , I randomly come  here to see other suffering from the same diseases as I was before growing up (trying to predict things , wannabe traders , economic geniuses and gamblers) talking non-sense and claiming they hold the future of the world in their btcwallets. Also I loved how anybody trying to bring some reasoning here is labelled as a troll (i'm not talking about choppie , he's not a troll he's a psycho) a hater a banker an agent a saboteur etc etc.

And about the whole view on bitcoin is that of a fad , and every time I come here and see all you guys grasping to straws I feel so good remembering how I refused lending my cousin another 200k on top of the 300k he "invested" (his cheapest coins where in the 600 if I remember it correctly). About the future I see it as a  painful long trip back to close a circle of people using it (just like old cards enthusiasts of or old game community) that will take years.

I don't think bitcoin is a total failure as it brought some new things to the world but the changes that would make it a success would turn it into something else and they will never be done

[ChartBuddy]

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Explanation

[Jammalan the Prophet]

https://21.co/

http://blogs.wsj.com/moneybeat/2015/09/21/21-inc-releases-first-product-a-bitcoin-computer/

 

A wobbly Raspberry Pi?

Can someone explain to me why this isn't the dead end I think it is?

I don't understand it either.

Raspberri pi:  $38
Avalon Nano3 USB Miner: $35
64GB SD card: $20

21 microcomputer: $400???

For everything else, there's Mastercard_TM

Here is how a believer zealot (one of the guys I mentioned in my previous post) sees this:

"what we hoped for" is a $399.99 dev board with a sizable exhaust fan housing a 50-125 Gh/s 0.16J/Gh mining chip.
https://21.co/
https://www.amazon.com/gp/product/B014RD021C/

Lets look at what this is,
50$ 128gb sd card
~50$ Pi 2 (including wifi adapter)
~dev board with mining chip  and fan 300$

That 300 dollars isn't just a miner so let's assume the miner part is 100$
200$ makes up the rest for :
Buy digital goods with the constant stream of bitcoin mined by a 21 Bitcoin Chip
Sell anything to anyone for bitcoin with the built-in 21 Micropayments Server
Easily build Bitcoin-payable apps, services, and devices
Operate it as a standalone computer, or connect it to any Mac, Windows, or Linux machine

This seems like pretty neat software and possibilities for 200$, I would love to see.


 
This caught my eye: The 21 Bitcoin Computer was produced with funding from Qualcomm, Cisco, and Andreessen Horowitz.

I think we will start to see some of the very first commercials for Bitcoin miners and mining soon.

[JayJuanGee]

Jammalan the Prophet (JTP)  Why don't you share some of your personal details?  In what are you invested?  Anything?  What is your life view?  Have you come here to denigrate others and to suggest that they are wrong about something or did you want to contribute in some meaningful way?  Are you suggesting that BTC prices are going to continue to go down?  if so, by how much and when?  Will the return up or NOT?  

My only "investment" is the family business in which I hold also a position (mainly formal) , I randomly come  here to see other suffering from the same diseases as I was before growing up (trying to predict things , wannabe traders , economic geniuses and gamblers) talking non-sense and claiming they hold the future of the world in their btcwallets. Also I loved how anybody trying to bring some reasoning here is labelled as a troll (i'm not talking about choppie , he's not a troll he's a psycho) a hater a banker an agent a saboteur etc etc.

And about the whole view on bitcoin is that of a fad , and every time I come here and see all you guys grasping to straws I feel so good remembering how I refused lending my cousin another 200k on top of the 300k he "invested" (his cheapest coins where in the 600 if I remember it correctly). About the future I see it as a  painful long trip back to close a circle of people using it (just like old cards enthusiasts of or old game community) that will take years.

I don't think bitcoin is a total failure as it brought some new things to the world but the changes that would make it a success would turn it into something else and they will never be done

Likely, you are labelled as a troll because you are NOT really bringing any meaningful substance, and you are just generalizing a whole group of investors and also criticizing by suggesting that a bunch of bitcoin enthusiasts are talking nonsense.  

Furthermore, you didn't really grapple with the various questions that I put to you, and instead you selectively picked some part of my question(s) and went on your little diatribe to criticize the efforts and thoughts of others.

Nonetheless, I am glad that you, at least, made some effort at answering some parts of my questions, and therefore, possibly you could be labelled as a troll-lite, rather than a full-fledged troll.

By the way, there is NO real unity of thought regarding labelling people trolls, and likely you are free to make a lot of suggestions and observations in these threads, so long as you back them up and you are NOT making up facts and/or failing and refusing to acknowledge some basic facts, merely because they do NOT fit your spin.

Finally, the fact that you seem to assert some kind of pleasure from coming here from time to time to observe "suffering" informs me somewhat that you are likely NOT writing in good faith, and you are likely a shit stirrer and a time-waster, and you really are NOT inclined to engage in meaningful discussions about anything except, possibly to attempt to stir up shit and attempt to get some laughs at the possible expense of others, while generalizing to such an extent that you are NOT really meaningful engaging with others as individuals, but instead putting a lot of us genuine posters in some kind of made up category and to describe us as if we are all zealots, without meaningful thoughts.

[JayJuanGee]

$220 is getting close??? maybe by morning, or possibly within a few days?  What ya think?  

She gonna test $210 in the next 24 hours?  What about $200 in the next 48 to 72 hours?  If we get down to $200 this time, then she's gotta go back up to the $250s and beyond soon thereafter, NO?

[freedomno1]

Predicts more side-ways movement
But if the $200 line is broken that would be a bit concerning to me.

[ChartBuddy]

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Explanation

[lyth0s]

if 21 is successful in building this premium internet, the blockchain is going to bloat massively. A blockchain transaction for every pageview. Even BIP101 wouldn't keep up.  Perhaps that's why they support BIP100. They want to increase the blocksize limit FASTER with miner voting.  

and the plot thickens...

Premium internet (wth is that)? For a few cents a day? A majority of mining pools want to scale faster than BIP 101?

Why you always make a few good points and then torpedo them with nonsense?  

Its not a blockchain transaction for every pageview. The 21 inc bitcoin computers have their own micropayment system tied into the 21 inc network, which then gets settled on the blockchain.

See my post here: https://bitcointalk.org/index.php?topic=1186115.msg12489392#msg12489392

[Globb0]

What would it take for services to unravel.

Often it is cited that Bitcoin has all the infrastructure that makes people very confident it cant disappear.


I was thinking of the past and how things sometimes tip over a line of viability and services just start getting turned off or not renewed.


Mining get trickier at the low price, maybe services that are losing money can continue a bit on their reserves but for how long?

Are people still that confident everything can run on love for a while until something brings us all back to life? or will we see a decline of disgruntled providers "giving up" on Bitcoin.

[JayJuanGee]

Predicts more side-ways movement
But if the $200 line is broken that would be a bit concerning to me.

I'm kind of of the theory that a lot of big financial institutions and govt players or status quo players who feel threatened by bitcoin can run the risk of trading BTC at a loss in order to drive down BTC prices.. and in that regard, on an aggregate level it is much easier to move BTC around than it is to move around fiat, whether you are a institutional player or NOT.  Therefore, little by little prices could be driven down to $200 by big players with a vested interest to keep bitcoin down....   

ON the other hand, it would NOT take too many white whales to reverse the course of this BTC direction, but part of the problem with the white whales seems to be the fact that some of them may NOT be inside players, and if they move money onto exchanges or into other BTC price setting venues, then they may fear that they will telegraph their move to other inside players who may drive up prices prior to their ability to make BTC purchases on price setting exchanges. 

[JayJuanGee]

What would it take for services to unravel.

Often it is cited that Bitcoin has all the infrastructure that makes people very confident it cant disappear.


I was thinking of the past and how things sometimes tip over a line of viability and services just start getting turned off or not renewed.


Mining get trickier at the low price, maybe services that are losing money can continue a bit on their reserves but for how long?

Are people still that confident everything can run on love for a while until something brings us all back to life? or will we see a decline of disgruntled providers "giving up" on Bitcoin.

Yes, you would think that some of these big players with vested interests, would continue to see it in their institutional interest (and long term financial  interest as a BTC investor) to work on various strategies to make sure BTC prices go up rather than going down (or being driven by other players).. ... and those would likely be the bigger of the BTC infrastructure players.  Some of the smaller players may NOT have capital to keep buying BTC, and they are in fact hoping that BTC prices go up in order that they can use BTC that they already hold, rather than using some of their fiat to buy more BTC (to attempt to keep up BTC prices and to raise BTC prices).  I agree with your presumption that it is likely that some of the assumptions of various BTC infrastructure investors would be that BTC prices would continue to go up and that BTC prices would be at least north of $500, and if north of $500 is NOT happening, then they have to engage in a whole hell-a-va lot of reconsiderating and recalculating of thw variables.

[ChartBuddy]

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[SnokkomBTC]

2% arbitrage between Stamp and China... Really no one taking that?

indeed, what's up? 

[BitofaN1]

Nothing to see here.Just a small bear trap that's all.