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

[brg444]

Smallblockers happened to me. Scale or die.

Terabytes of blockchain that are to be filled with junk, with near zero cost, does not equal scaling but an open-wide attack vector to destroy BTC.

Then fuckin find a solution that works! I don't give a shit how it's done but it's got to get done.  Years and years to figure out a way and if they can't come up with a scaling solution, then either they are incompetent and need to be replaced or they are intentionally obstructing progress and need to be replaced.

god .... you guys, pull yer heads out of yer arses and look around.

you lost the argument, get over it. there's solutions all around and many more on the way, for real. Just because you're not technical doesn't mean you're not being listened to ... but come on, when better brains say "we got this" then let them get the fuck on with it without all the back-stabbing!!!

Well to be fair technical stuff is not his strong suit...

How's that supposed to work? How many "blockspace" do I get for 1 bitcoin?

Easy. 1/21,000,000th of the whole chain.  I answered your question, now you answer mine. If I'm not buying space on the blockchain when I'm buying bitcoin, what am I buying?

So for 1 bitcoin I get 1/21,000,000th of the whole chain? Are you for real? Were you hit over the head with something?

Nope. I get one twentyone millionth of the whole damn chain. 4 eva. If you think that's too much, then perhaps you are selling your coins too cheaply.

If I'm not buying blockspace when I'm buying bitcoin, then what the hell am I buying?

[peonminer]

[brg444]

Smallblockers happened to me. Scale or die.

Terabytes of blockchain that are to be filled with junk, with near zero cost, does not equal scaling but an open-wide attack vector to destroy BTC.

We should put you in charge. you seem to know how people should spend there money!  remind me again who in bitcoin land has the power to decide which bitcoin transactions are junk?

money velocity is not junk, its a fundamental measure of an economy, we have a limited supply so the only place to grow is increased velocity.  

and "at near zero cost"? what planet are you on!

we are paying miners with Bitcoin inflation 25BTC every 10 min. it's still early days and needed for security while we grow economies of scale.

you choose:

Limit Block Size we'll see 1MB blocks push tx fees above $10. per transaction. (if the new users think its a good idea and pay to use bitcoin it may gorow - demand in bitcoin is not a given dispirit what some Core Developer - Experts think)

or

lets the free market decide and let in an extra 1000 transactions generate the $10 fee along with added security in diversity.  

Why you here? Getting a little boring over at bit.con forum?

[marcus_of_augustus]

Smallblockers happened to me. Scale or die.

Terabytes of blockchain that are to be filled with junk, with near zero cost, does not equal scaling but an open-wide attack vector to destroy BTC.

We should put you in charge. you seem to know how people should spend there money!  remind me again who in bitcoin land has the power to decide which bitcoin transactions are junk?

money velocity is not junk, its a fundamental measure of an economy, we have a limited supply so the only place to grow is increased velocity.  

and "at near zero cost"? what planet are you on!

we are paying miners with Bitcoin inflation 25BTC every 10 min. it's still early days and needed for security while we grow economies of scale.

you choose:

Limit Block Size we'll see 1MB blocks push tx fees above $10. per transaction. (if the new users think its a good idea and pay to use bitcoin it may gorow - demand in bitcoin is not a given dispirit what come Core Developer - Experts think)

or

lets the free market decide and let in an extra 1000 transactions generate the $10 fee along with added security in diversity.  

give it up, you and your buddy doc's gang lost. This is not the time or the place. Find another venue, we're here to have fun and talk about markets not display butthurt on behalf of the failed vendetta of a shill.

[Adrian-x]

Smallblockers happened to me. Scale or die.

Terabytes of blockchain that are to be filled with junk, with near zero cost, does not equal scaling but an open-wide attack vector to destroy BTC.

Then fuckin find a solution that works! I don't give a shit how it's done but it's got to get done.  Years and years to figure out a way and if they can't come up with a scaling solution, then either they are incompetent and need to be replaced or they are intentionally obstructing progress and need to be replaced.

god .... you guys, pull yer heads out of yer arses and look around.

you lost the argument, get over it. there's solutions all around and many more on the way, for real. Just because you're not technical doesn't mean you're not being listened to ... but come on, when better brains say "we got this" then let them get the fuck on with it without all the back-stabbing!!!

Well to be fair technical stuff is not his strong suit...

How's that supposed to work? How many "blockspace" do I get for 1 bitcoin?

Easy. 1/21,000,000th of the whole chain.  I answered your question, now you answer mine. If I'm not buying space on the blockchain when I'm buying bitcoin, what am I buying?

So for 1 bitcoin I get 1/21,000,000th of the whole chain? Are you for real? Were you hit over the head with something?

Nope. I get one twentyone millionth of the whole damn chain. 4 eva. If you think that's too much, then perhaps you are selling your coins too cheaply.

If I'm not buying blockspace when I'm buying bitcoin, then what the hell am I buying?

Small blockers gon'a small block.

[Fakhoury]

[superresistant]

 


Fuck it I'm partying.

[Richy_T]

Was nice to see while it lasted.... now lets hopefully find a new floor 350.00 would be nice  

Are there no old-guard left who remember flash-crashes?

[Chalkbot]

Was nice to see while it lasted.... now lets hopefully find a new floor 350.00 would be nice  

Are there no old-guard left who remember flash-crashes?

We're here, it's just impossible to converse much with all these newer guys.

[JimboToronto]

Wow. Just got back from some tests at the hospital and I see I missed megadump.

30KBTC in an hour at Finex alone and we're back to where we were 5 hours ago.

Gotta love how the wishful-thinking deluded bears were ready to declare the uptrend done. Can't see a minor correction when it's staring them in the face.

Still up over $40 on the day.  China should be waking soon. Rock on.

[Adrian-x]

Smallblockers happened to me. Scale or die.

Terabytes of blockchain that are to be filled with junk, with near zero cost, does not equal scaling but an open-wide attack vector to destroy BTC.

We should put you in charge. you seem to know how people should spend there money!  remind me again who in bitcoin land has the power to decide which bitcoin transactions are junk?

money velocity is not junk, its a fundamental measure of an economy, we have a limited supply so the only place to grow is increased velocity.  

and "at near zero cost"? what planet are you on!

we are paying miners with Bitcoin inflation 25BTC every 10 min. it's still early days and needed for security while we grow economies of scale.

you choose:

Limit Block Size we'll see 1MB blocks push tx fees above $10. per transaction. (if the new users think its a good idea and pay to use bitcoin it may gorow - demand in bitcoin is not a given dispirit what come Core Developer - Experts think)

or

lets the free market decide and let in an extra 1000 transactions generate the $10 fee along with added security in diversity.  

give it up, you and your buddy doc's gang lost. This is not the time or the place. Find another venue, we're here to have fun and talk about markets not display butthurt on behalf of the failed vendetta of a shill.

Bitcoin don't die like that, I have nothing to give up. I'm here a I just want to pump the price and look at trains.

The fact we are headed into a brick wall with limited transaction volume is a concern. We can take the brakes off, hobble bitcoin or we can open it up and let new users in.

I'm here to help everyone secure there bitcoin on the Bitcoin Blockchain and encourage it to grows in value for all.  

[Dilla]

Never short a rally retards.

[AlexGR]

Smallblockers happened to me. Scale or die.

Terabytes of blockchain that are to be filled with junk, with near zero cost, does not equal scaling but an open-wide attack vector to destroy BTC.

We should put you in charge. you seem to know how people should spend there money!  remind me again who in bitcoin land has the power to decide which bitcoin transactions are junk?

The miners.

money velocity is not junk, its a fundamental measure of an economy, we have a limited supply so the only place to grow is increased velocity.  

Money velocity of multiple dust transactions = spamming the blockchain and bloating BTC.

and "at near zero cost"? what planet are you on!

Can I make a script right now and start spamming the blockchain when it is in low-utilization days, with almost zero fee tx's? The answer is yes. Even with 1mb limit. And it will be far easier to do that with 10mb limit. And that's irregardless of the mining fee. You cannot simply implement a higher blocksize without enforcing a system that prevents cheap malicious use of that capacity to self-destruct BTC. It would be an idiotic move of epic proportions and people would then say "so, we are at the mercy of script kids right now?" and then claim BTC devs are incompetent for not having foreseen how their actions are enlarging the blockchain by the tens of gigabytes, and how they (or the miners) must take action to prevent this kind of spamming, and how useless these devs are for not preventing it in the first place through fee competition in a much more limited block size, etc etc.

[Adrian-x]

Never short a rally retards.

LOL, the steam engage is stoked the boilers is full and some coal is on its way.

[spooderman]

2 years of build up.

anyone else euphoric right now?

[2015Bubble]

2 years of build up.

anyone else euphoric right now?

Not really I sold 50% of my stash at lowest point because I needed the money for something.
I failed at life.

[marcus_of_augustus]

2 years of build up.

anyone else euphoric right now?

Not really I sold 50% of my stash at lowest point because I needed the money for something.
I failed at life.

hi tarmi ... still sweating on that 258 short position?

[Adrian-x]

Smallblockers happened to me. Scale or die.

Terabytes of blockchain that are to be filled with junk, with near zero cost, does not equal scaling but an open-wide attack vector to destroy BTC.

We should put you in charge. you seem to know how people should spend there money!  remind me again who in bitcoin land has the power to decide which bitcoin transactions are junk?

The miners.

money velocity is not junk, its a fundamental measure of an economy, we have a limited supply so the only place to grow is increased velocity.  

Money velocity of multiple dust transactions = spamming the blockchain and bloating BTC.

and "at near zero cost"? what planet are you on!

Can I make a script right now and start spamming the blockchain when it is in low-utilization days, with almost zero fee tx's? The answer is yes. Even with 1mb limit. And it will be far easier to do that with 10mb limit. And that's irregardless of the mining fee. You cannot simply implement a higher blocksize without enforcing a system that prevents cheap malicious use of that capacity to self-destruct BTC. It would be an idiotic move of epic proportions and people would then say "so, we are at the mercy of script kids right now?" and then claim BTC devs are incompetent for not having foreseen how their actions are enlarging the blockchain by the tens of gigabytes, and how they (or the miners) must take action to prevent this kind of spamming, and how useless these devs are for not preventing it in the first place through fee competition in a much more limited block size, etc etc.

Do whatever you what with your money, I'm sure the miners will love your fees.

I like how you focus on the emotional appeal to a centralized authority to save us and ignore the obvious economic consequences. Bitcoin is not going to scale if you dont let go and let new users buy in.

we are paying miners with Bitcoin inflation 25BTC every 10 min. it's still early days and needed for security while we grow economies of scale.

you choose:

Limit Block Size we'll see 1MB blocks push tx fees above $10. per transaction. (if the new users think its a good idea and pay to use bitcoin it may gorow - demand in bitcoin is not a given dispirit what some Core Developer - Experts think)

or

lets the free market decide and let in an extra 1000 transactions generate the $10 fee along with added security in diversity.  

[bitebits]

Great post on Reddit:
https://www.reddit.com/r/Bitcoin/comments/3rd4i5/can_we_be_sober_for_a_second/

Still: choo choo!

[Chalkbot]

2 years of build up.

anyone else euphoric right now?

Not really I sold 50% of my stash at lowest point because I needed the money for something.
I failed at life.

I heard there was going to be a 2015 bubble. Maybe you didn't get the memo?