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

[xyzzy099]

*your
I'm good at spellinks, too.

Must you get all peevish, instead of sincerely thanking me for putting you on the road to mental health & clearing up your confusionses?

I would really like to see how Jorge's ideas stand up to academic scrutiny, wouldn't you, (ex)NLC?

Not sure what your issue is here.

[adamstgBit]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

people are CONFUSED by the blocksize limit. people trying to rationalize a 7TPS monetary system holding value, the NEED to believe in bitcoin value is very powerful!  

bitcoin has always been about building a new monetary system which exist as a ghost outside the machine, accessible to all, anywhere anytime. don't worry, we will have our cake and eat it too, block size will increase and so will full node count, and it will be <5cent a TX and there will be totally free trustless "micropayment channels" and we'll have side chains processing stock market trades / smart contracts in a transparent and super fast irreversible irrefutable manner
give it 2 years
BAM 32,000$
 

[OSCA]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

Consumerist money is fiat which banks or gov'ts pull out of their arses liberally, therefore it's inflated and therefore it's the bad money which everyone try to get rid of as per the Gresham's law, which is why consumerism exists at all.
Serious money aka sound money is not like that shit.  

So money is "sound" when it's super expensive to use? With sound money a 2-dollar cup of coffee costs $22 to buy?
Must use shitty fiat for real world stuffs?

[conspirosphere.tk]

So money is "sound" when it's super expensive to use? With sound money a 2-dollar cup of coffee costs $22 to buy?
Must use shitty fiat for real world stuffs?

OK, you win: buy stuff with your BTC so you won't have a reason to come back.

[adamstgBit]

we just spiked to 260!!!!!!!! 

[ssmc2]

we just spiked to 260!!!!!!!! 

[adamstgBit]

we just spiked to 260!!!!!!!! 

[adamstgBit]

the FUD is unwarranted even if we keep the 1MB limit ( which we aren't ) all that would really do for the foreseeable future is price out mirco TX's and bring the TX cost at about 10cents, buying over priced coffee is still feasible, and we are still undercut paypals 2% +50cents TX fee massively

[OSCA]

*your
I'm good at spellinks, too.

Must you get all peevish, instead of sincerely thanking me for putting you on the road to mental health & clearing up your confusionses?

I would really like to see how Jorge's ideas stand up to academic scrutiny, wouldn't you, (ex)NLC?

Not sure what your issue is here.

No.  That's why I'm reading this internet forum and not an academic journal.

As for yourself, feel free to commission him, sponsor him through Patreon, crowd-fund his research. See if you could better his current engagement & interest him in bitcoin research. Free market at work.

Better still, lead by example! I encourage you to publish. Surely there's a skoolarly artikel in you somewhere, no?  Perchance even a little book?
In the meantime, kindly allow him to opine on this internet forum with the rest of us.

[rjclarke2000]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

people are CONFUSED by the blocksize limit. people trying to rationalize a 7TPS monetary system holding value, the NEED to believe in bitcoin value is very powerful!  

bitcoin has always been about building a new monetary system which exist as a ghost outside the machine, accessible to all, anywhere anytime. don't worry, we will have our cake and eat it too, block size will increase and so will full node count, and it will be <5cent a TX and there will be totally free trustless "micropayment channels" and we'll have side chains processing stock market trades / smart contracts in a transparent and super fast irreversible irrefutable manner
give it 2 years
BAM 32,000$
 

In 2 years I will be very rich then. May this be the case.

[xyzzy099]

In the meantime, kindly allow him to opine on this internet forum with the rest of us.

I have no interest in interfering with Dr. Stolfi's ability to opine anywhere he chooses, but thanks for your concern on his behalf

I will continue to urge him to make use of the opportunity offered by Ledger though, as I am sure I am not alone in being curious as to what rigorous academic analysis of his ideas might teach us all.

[dloghwak]

If it takes to pay a coffee with cash in order to keep BTC serious, I'm all for it.

"in order to keep BTC serious" as what, exactly?  Surely not money?

Not consumerist money.
Would you pay with silver coins your frap-thing?

"Consumerist money"?  What's that?
I guess all the hype about bitcoin being "the fastest, cheapest way to transact," "currency of the internet," is just that?  BTC is not money but a store of value (a role which it hasn't been super good in for the last couple of years)?

people are CONFUSED by the blocksize limit. people trying to rationalize a 7TPS monetary system holding value, the NEED to believe in bitcoin value is very powerful!  

bitcoin has always been about building a new monetary system which exist as a ghost outside the machine, accessible to all, anywhere anytime. don't worry, we will have our cake and eat it too, block size will increase and so will full node count, and it will be <5cent a TX and there will be totally free trustless "micropayment channels" and we'll have side chains processing stock market trades / smart contracts in a transparent and super fast irreversible irrefutable manner
give it 2 years
BAM 32,000$
 

In 2 years I will be very rich then. May this be the case.

2 years ago he predicted the same high figures, didn't end that well.

[bad_char5]

the FUD is unwarranted even if we keep the 1MB limit ( which we aren't ) all that would really do for the foreseeable future is price out mirco TX's and bring the TX cost at about 10cents, buying over priced coffee is still feasible, and we are still undercut paypals 2% +50cents TX fee massively

You buy overpriced coffee by using PayPal? I use cash or CC, costs me exactly 0% +00 cents.  Try it!

[wakasaki808]

are we rich yet??

[ChartBuddy]

Coin
Explanation

[sidhujag]

the FUD is unwarranted even if we keep the 1MB limit ( which we aren't ) all that would really do for the foreseeable future is price out mirco TX's and bring the TX cost at about 10cents, buying over priced coffee is still feasible, and we are still undercut paypals 2% +50cents TX fee massively

Bitcoin is a decentralized publicly auditable settlement system. That people would pay to use. You can use it for 0 fee but it will take longer, its not designed as a payment processor. Satoshi chose security over performance because of decentralization.

The time to increase the block size will be when 0 fee tx takes longer than 5 days.

[Richy_T]

the FUD is unwarranted even if we keep the 1MB limit ( which we aren't ) all that would really do for the foreseeable future is price out mirco TX's and bring the TX cost at about 10cents, buying over priced coffee is still feasible, and we are still undercut paypals 2% +50cents TX fee massively

You buy overpriced coffee by using PayPal? I use cash or CC, costs me exactly 0% +00 cents.  Try it!

Your credit card company charges the merchant a fee and you can bet Howard Schultz isn't reaching into his own pocket to pay it.

[Richy_T]

Bitcoin is a decentralized publicly auditable settlement system. That people would pay to use. You can use it for 0 fee but it will take longer, its not designed as a payment processor. Satoshi chose security over performance because of decentralization.

Citation needed.

Bitcoin: A Peer-to-Peer Electronic Cash System

https://bitcoin.org/bitcoin.pdf

[sidhujag]

Bitcoin is a decentralized publicly auditable settlement system. That people would pay to use. You can use it for 0 fee but it will take longer, its not designed as a payment processor. Satoshi chose security over performance because of decentralization.

Citation needed.

Bitcoin: A Peer-to-Peer Electronic Cash System

https://bitcoin.org/bitcoin.pdf

Exactly

[OSCA]

...
The time to increase the block size will be when 0 fee tx takes longer than 5 days.

The kind of forward-thinking, proactive problem-solving that made Bitcoin wat it is today

@Richy_T: Don't care, CC isn't charging me a fee, and I don't get a discount when I pay with BTC. Weird looks? Yes. Discount? No.

*At this point, transactions are not subsidized by the tx fee but rather by bitcoin base money inflation, AKA "printing money." Since you're interested in the real costs of transacting with CC, thought you should know.