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

[ssmc2]

Buckle in

[marcus_of_augustus]

When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence?

https://blockchain.info/charts/n-transactions

Any future rally will be meaningfully constrained by this "safety feature".  

... soon time to start high-grading for valuable TX anyway. It's an industrial level tech., can't always remain a sandpit for toy projects. Which makes you misguided about rallies being "constrained" ... but hey, who am I to stop people losing money?

Miners should decide which transactions are valuable enough to process, not a central planning committee. Especially not a committee which is dominated by a for profit company which was explicitly formed to offer a "solution" to the "problem".

c'mon, enough with the conspiracy FUD smearing, stirring up, slinging and smearing.

The miners do indeed decide but they are for now more than happy to delegate that responsibility, wholly, and huge development costs to the development community (no committees involved for those not paying attention). Feel free to submit better ideas to the bitcoin development github

Issues: https://github.com/bitcoin/bitcoin/issues
Pull requests: https://github.com/bitcoin/bitcoin/pulls

[practicaldreamer]

....they are buying btc in china and selling btc in the west

Where's the demand in the west coming from ?

[gotmilk_]

Fly me to the moon... 

[Hyperjacked]

....they are buying btc in china and selling btc in the west

Where's the demand in the west coming from ?

From a dream...

like the butterfly's wings flapping!

[marcus_of_augustus]

....they are buying btc in china and selling btc in the west

Where's the demand in the west coming from ?

rising prices from the buying in china create new demand in the west ... it's like a free energy machine  

[Fatman3001]

When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence?

https://blockchain.info/charts/n-transactions

Any future rally will be meaningfully constrained by this "safety feature".  

... soon time to start high-grading for valuable TX anyway. It's an industrial level tech., can't always remain a sandpit for toy projects. Which makes you misguided about rallies being "constrained" ... but hey, who am I to stop people losing money?

Miners should decide which transactions are valuable enough to process, not a central planning committee. Especially not a committee which is dominated by a for profit company which was explicitly formed to offer a "solution" to the "problem".

c'mon, enough with the conspiracy FUD smearing, stirring up, slinging and smearing.

The miners do indeed decide but they are for now more than happy to delegate that responsibility, wholly, and huge development costs to the development community (no committees involved for those not paying attention). Feel free to submit better ideas to the bitcoin development github

Issues: https://github.com/bitcoin/bitcoin/issues
Pull requests: https://github.com/bitcoin/bitcoin/pulls

I suggest you read up on "conflict of interest". It's not about conspiracy. It's an objective fact.

[practicaldreamer]

....they are buying btc in china and selling btc in the west

Where's the demand in the west coming from ?

rising prices from the buying in china create new demand in the west ... it's like a free energy machine  

Possibly - but shouldn't the oversupply on the western exchanges hold down prices ? I mean, the price on Huobi has no material effect on BTC in the west - might as well say BTC is trading at $10k in China - makes no difference to us, materially/practically.

Are we that gullible ?

[brg444]

miss me with your transaction FUD

them chinese keep all their coins on exchange anyway  

[marcus_of_augustus]

I suggest you read up on "conflict of interest". It's not about conspiracy. It's an objective fact.

I would suggest you keep your inane suggestions to yourself, but I'm too polite for that.

[adamstgBit]

[600watt]

Relax, Jack. Get that log on and down a couple of drinks.

And be careful with that fat finger.

big hug for posting gl - a true master. 

[Oblodo]

The volume the last days!

[Cconvert2G36]

When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence?

https://blockchain.info/charts/n-transactions

Any future rally will be meaningfully constrained by this "safety feature".  

... soon time to start high-grading for valuable TX anyway. It's an industrial level tech., can't always remain a sandpit for toy projects. Which makes you misguided about rallies being "constrained" ... but hey, who am I to stop people losing money?

Miners should decide which transactions are valuable enough to process, not a central planning committee. Especially not a committee which is dominated by a for profit company which was explicitly formed to offer a "solution" to the "problem".

c'mon, enough with the conspiracy FUD smearing, stirring up, slinging and smearing.

The miners do indeed decide but they are for now more than happy to delegate that responsibility, wholly, and huge development costs to the development community (no committees involved for those not paying attention). Feel free to submit better ideas to the bitcoin development github

Issues: https://github.com/bitcoin/bitcoin/issues
Pull requests: https://github.com/bitcoin/bitcoin/pulls

Garzik already submitted BIP102, which I think would be an acceptable "can kick" to further study the issue and possible solutions... The conference is over, and there is no plan in sight. I don't really think a controversial overhaul of the system in the form of SegWit is going to offer any relief, any time soon.

[Fatman3001]

I suggest you read up on "conflict of interest". It's not about conspiracy. It's an objective fact.

I would suggest you keep your inane suggestions to yourself, but I'm too polite for that.

Did you sell your account to brg444 or is he giving you lessons?

[orpington]

[gotmilk_]

Live camera from OKcoin office  

[marcus_of_augustus]

....they are buying btc in china and selling btc in the west

Where's the demand in the west coming from ?

rising prices from the buying in china create new demand in the west ... it's like a free energy machine  

Possibly - but shouldn't the oversupply on the western exchanges hold down prices ? I mean, the price on Huobi has no material effect on BTC in the west - might as well say BTC is trading at $10k in China - makes no difference to us, materially/practically.

Are we that gullible ?

It is not a matter of gullibility, just supply, demand and inherent delays to the time preferences for pricing, discovery, settlement and clearing.

Bitcoin moves across borders relatively frictionlessly and speedily (10 mins to hours not days). This creates lots of seemingly bizarre global arbitrage opportunities ... the same 9k btc can be sold on a western exchange and back being bid up in china within an hour. Large cross-border fiat settlements take 3-5 business days at best.

[Meuh6879]

Monday will be nice.











For the monetary system.










Stock market plunge.

[marcus_of_augustus]

Garzik already submitted BIP102, which I think would be an acceptable "can kick" to further study the issue and possible solutions... The conference is over, and there is no plan in sight. I don't really think a controversial overhaul of the system in the form of SegWit is going to offer any relief, any time soon.

heh, so that's the disingenuous spin you guys are going to use for redditard herp's consumption is it? Any of the latest breakthrough improvements that are not approved by the benevolent, wise, central committee guardians and protectors of the free shit derp army are now going to be a "controversial overhaul of the system" ??

Unless of course we raised blocksize (bigger fat wheels are ok for the beer-can hat brigade).