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

[Richy_T]

Blocks are consistently far from being full!

This is true. We still have some time. But the nature of exponential growth means we will hit it fairly soon and hard.

It will also start to be an issue before 100%. I'm not sure what the exact level would be but I'm thinking around 85%

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[Richy_T]

It will also start to be an issue before 100%. I'm not sure what the exact level would be but I'm thinking around 85%

Something similar to this

https://en.wikipedia.org/wiki/Network_congestion#Congestive_collapse

[billyjoeallen]

Civil engineer: Hey, Boss. Traffic on the bridge is increasing by 50% per month. Shouldn't we widen it?

Bureaucrat: Ha! That bridge has excess capacity. If traffic gets too high, we'll just increase the tolls. Most of those schmucks don't really need to go anywhere anyway.

Civil engineer: Do we know that for sure? What if there is an evacuation or something?

Bureaucrat: That bridge was intentionally designed with low capacity to prevent invasions! Widening it would be a dangerous departure from historic bridge operations.

Civil Engineer: Aren't bridges supposed to be used to facilitate travel?

Bureaucrat: Yes, but only the right sort of travel. That's for me to decide! If traffic gets too heavy, and tolls get too expensive, the people can use buses. Too many single passenger cars anyway.

Civil engineer: Do you own a bus company?

Bureaucrat: Purely coincidental! I'm just guarding against bridgebuilder centralization.

Civil engineer: I see. No conflict of interest there. What's the name of your company anyway, Busstream?

Bureaucrat: Bridgestream_TM, Smartass.

[ChartBuddy]

Coin



Explanation

[Cconvert2G36]

It will also start to be an issue before 100%. I'm not sure what the exact level would be but I'm thinking around 85%

Something similar to this

https://en.wikipedia.org/wiki/Network_congestion#Congestive_collapse

It's tough to get an accurate picture with a single number. Usually, the less than 10 min blocks are going to be smaller, and coinbase only blocks are going to be tiny.

If you plan max capacity to avg capacity... you're going to have issues. 

[suda123]

Civil engineer: Hey, Boss. Traffic on the bridge is increasing by 50% per month. Shouldn't we widen it?

Bureaucrat: Ha! That bridge has excess capacity. If traffic gets too high, we'll just increase the tolls. Most of those schmucks don't really need to go anywhere anyway.

Civil engineer: Do we know that for sure? What if there is an evacuation or something?

Bureaucrat: That bridge was intentionally designed with low capacity to prevent invasions! Widening it would be a dangerous departure from historic bridge operations.

Civil Engineer: Aren't bridges supposed to be used to facilitate travel?

Bureaucrat: Yes, but only the right sort of travel. That's for me to decide! If traffic gets too heavy, and tolls get too expensive, the people can use buses. Too many single passenger cars anyway.

Civil engineer: Do you own a bus company?

Bureaucrat: Purely coincidental! I'm just guarding against bridgebuilder centralization.

Civil engineer: I see. No conflict of interest there. What's the name of your company anyway, Busstream?

Bureaucrat: Bridgestream_TM, Smartass.

Ahuwhauwhhauwhusushwusuhshshudisjsj can someone vouch if this is happening?

[JayJuanGee]

Civil engineer: Hey, Boss. Traffic on the bridge is increasing by 50% per month. Shouldn't we widen it?

Bureaucrat: Ha! That bridge has excess capacity. If traffic gets too high, we'll just increase the tolls. Most of those schmucks don't really need to go anywhere anyway.

Civil engineer: Do we know that for sure? What if there is an evacuation or something?

Bureaucrat: That bridge was intentionally designed with low capacity to prevent invasions! Widening it would be a dangerous departure from historic bridge operations.

Civil Engineer: Aren't bridges supposed to be used to facilitate travel?

Bureaucrat: Yes, but only the right sort of travel. That's for me to decide! If traffic gets too heavy, and tolls get too expensive, the people can use buses. Too many single passenger cars anyway.

Civil engineer: Do you own a bus company?

Bureaucrat: Purely coincidental! I'm just guarding against bridgebuilder centralization.

Civil engineer: I see. No conflict of interest there. What's the name of your company anyway, Busstream?

Bureaucrat: Bridgestream_TM, Smartass.

Ahuwhauwhhauwhusushwusuhshshudisjsj can someone vouch if this is happening?

Yes... it's confirmed to be happening in BJA's head.

Honest injun.

[ChartBuddy]

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Explanation

[ChartBuddy]

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Explanation

[Richy_T]

Bureaucrat: Ha! That bridge has excess capacity. If traffic gets too high, we'll just increase the tolls. Most of those schmucks don't really need to go anywhere anyway.

Bureaucrat: That bridge was intentionally designed with low capacity to prevent invasions! Widening it would be a dangerous departure from historic bridge operations.

Blockstream Saddles

https://www.youtube.com/watch?v=SbWg-mozGsU

[Richy_T]

It's tough to get an accurate picture with a single number. Usually, the less than 10 min blocks are going to be smaller, and coinbase only blocks are going to be tiny.

If you plan max capacity to avg capacity... you're going to have issues.  

Yeah, that's why I'm thinking 85%. Not every block needs to be full to cause problems and empty blocks will probably still be mined bringing the "average" down significantly. Probably actual transactions/average max transactions might be a better measure. Empty blocks are probably best just ignored completely for calculations.

[ChartBuddy]

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Explanation

[Cconvert2G36]

Today's edition: Political Contributor to the Central Committee of the Inhibit Party of the Technical Consensus Union.

[00:08] <petertodd> bramc: but today we have a blocksize limit low enough that everyone has access to reasonably low orphan rates
[00:08] <petertodd> bramc: (remember that the networking code we have right now on the p2p network is *really* inefficient)
[00:09] <bramc> petertodd, And the blocksize limit is staying down there, by design
[00:09] <petertodd> bramc: what do you mean?
[00:10] <bramc> petertodd, The current 'plan of record' is for the block size to de facto go up by less than 2x with segwit and otherwise stay put, at least for now
[00:10] <bramc> For exactly that reason
[00:10] <petertodd> bramc: sure

Not tonight, dear.

Always cute.

[suda123]

Today's edition: Political Contributor to the Central Committee of the Inhibit Party of the Technical Consensus Union.

[00:08] <petertodd> bramc: but today we have a blocksize limit low enough that everyone has access to reasonably low orphan rates
[00:08] <petertodd> bramc: (remember that the networking code we have right now on the p2p network is *really* inefficient)
[00:09] <bramc> petertodd, And the blocksize limit is staying down there, by design
[00:09] <petertodd> bramc: what do you mean?
[00:10] <bramc> petertodd, The current 'plan of record' is for the block size to de facto go up by less than 2x with segwit and otherwise stay put, at least for now
[00:10] <bramc> For exactly that reason
[00:10] <petertodd> bramc: sure
[00:11] <bramc> Big booty bitches
[00:11] <petertodd> His name is John Wick
[00:13] <theymos> BANS FOR YOU BANS FOR YOU EVERYONE GETS A BAN!!
[00:14] <satoshinakamoto> ill fkn rekted ur fayce themoys

Not tonight, dear.

Always cute.

[ChartBuddy]

Coin



Explanation

[hdbuck]

Today's edition: Political Contributor to the Central Committee of the Inhibit Party of the Technical Consensus Union.

[00:08] <petertodd> bramc: but today we have a blocksize limit low enough that everyone has access to reasonably low orphan rates
[00:08] <petertodd> bramc: (remember that the networking code we have right now on the p2p network is *really* inefficient)
[00:09] <bramc> petertodd, And the blocksize limit is staying down there, by design
[00:09] <petertodd> bramc: what do you mean?
[00:10] <bramc> petertodd, The current 'plan of record' is for the block size to de facto go up by less than 2x with segwit and otherwise stay put, at least for now
[00:10] <bramc> For exactly that reason
[00:10] <petertodd> bramc: sure

Not tonight, dear.

Always cute.

Butthurt must be disorientating for 1MB4EVA being so vigorously advocated by bitorrent's creator.

[ChartBuddy]

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Explanation

[sAt0sHiFanClub]

Yes... it's confirmed to be happening in BJA's head.

Honest injun.

Okay, I'll bite.

What part of the analogy dont you like, or feel is less than accurate?

[Andre#]

Simple: there is no plan to increase the block size through a hard fork anytime soon seeing as there is no valid reasons to do so.

Fork off if that doesn't make you happy.

Indeed, there's no plan to increase the block size, since the Core devs are determined to shift Bitcoin to a new economic policy without first achieving overwhelming consensus. Hence, if the community becomes unhappy enough, they will fork off, indeed. Whether this will be done by adopting a Bitcoin version that allows for a larger max block size, or by ditching Bitcoin for an alt, remains to be seen. But there is a limit to how much a minority can harass the majority, no matter how much power that minority has. History is littered with examples of that.

[Feri22]

Blocks are consistently far from being full! Blockpocalypse! You heard it here first! The sky is falling! We MUST switch to centralized Bitcoin and larger blocks!

This is such a FUD that with 2MB you will have some kind of centralization...it is pure bullshit