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

[Richy_T]

Just from interest, I ran this. The blue line is the free block space, the red line is when Satshi implemented the current block size limit.

Haven't had this one in a while...

[ImI]

Hearn has not lost my respect. He never had it in the first place.

A deeply immature person.

Unfortunately he is not the only one. Gmax, Luke and Thymos act similar.

[hdbuck]

Just from interest, I ran this. The blue line is the free block space, the red line is when Satshi implemented the current block size limit.

Shitcoiners spamming the blockchain. Thank you satoshi for anticipating them!

PS/ and fuck you richy and your miserable fud attempts.

[Richy_T]

Next up, I think full blocks vs time and probably fees vs time.

[aztecminer]

bitcoin serves as a fungible currency

You mean like how the 13,000 BTC stolen from Cryptsy are fungible?

https://www.walletexplorer.com/wallet/0c07e0bec1002bd2

BigVern must be mistaken when he says "If they are returned, then we will assume that no harm was meant and will not take any action to reveal who you are.  If not, well, then I suppose the entire community will be looking for you."

Last we heard of the guy he was flying out to China isn't it?

These 13,000 coins will find their way diluted into the market in due time.

Some may ask why we didn’t report this to the authorities when this occurred, and the answer is that we just didn’t know what happened, didn’t want to cause panic, and were unsure who exactly we should be contacting.
http://blog.cryptsy.com/

Now that's funny right there I don't care who you are.   

yep... cryptsy has been brewing for last few weeks.

[Richy_T]

PS/ and fuck you richy and your miserable fud attempts.

I know, right? I ignore those little lights that come on on my dashboard too that tell me I need more oil or to replace the brakes and so forth also.

And fuck the blockchain for it's factual data. We should just replace it with hope & dreams instead.

[Mrpumperitis]

[aztecminer]

It's important that a distributed ledger (blockchain) network not get spammed / be vulnerable to wasteful, spammy, or malicious transactions/requests. So, this argument, in favor of small blocks, is very legitimate and must be considered.

It's also important that a distributed ledger (blockchain) network be allowed to grow in userbase, feature set, adapt to new functionalities and processing capabilities, to match the ever-evolving needs and demand from a diverse userbase, particularly in the midst of the rapidly changing technological landscape of modern societies. So, this argument, in favor of larger blocks, is also very legitimate and must be considered.


..But implementing solutions that address either, or ideally, somehow, both of of these main issues, doesn't solve bitcoin's ACTUAL biggest problem as the premier [theoretically] decentralized payment system & store of value we need it for.

Why? Because as Mike unceremoniously put it,

As long as China controls Bitcoin, it has failed it's most cardinal mission as a decentralized trustless system.

To save Bitcoin we must execute a benevolent, temporary 51% attack on Chinese pools and/or vote to change Core to blacklist them (or use any similar method, I don't know - I'm not a programmer ;3) to 'force' Chinese monopolistic miners OUT OF THEIR DDOS'ING, SELF-INTERESTED, CHINESE-WALL+AUTHORITARIAN-REGIME-PROBLEMATIC MAJORITY.

Beyond dreams of a fee market, beyond issues with full blocks ~ If Bitcoin is to succeed, CHINA MUST GO.

wut ? we gotta do wut "blockchain blacklists" ? ok everyone all chant at same time: "china must go" "we want blockchain blacklists"!  .... follow up with a give me a "WOOT WOOT" .

[Richy_T]

wut ? we gotta do wut "blockchain blacklists" ? ok everyone all chant at same time: "china must go" "we want blockchain blacklists"!  .... follow up with a give me a "WOOT WOOT" .

Clearly their influence is making Bitcoin too inscrutable. Possibly even more dangerous than centralization.

[Fatman3001]

Well, at least volume is up.

[Fatman3001]

Next up, I think full blocks vs time and probably fees vs time.

Have you seen someone break down the fee/non-fee transaction distribution lately? I would think people are already starting to add extra fees. I know I am.

[JimboToronto]

Good morning Bitcoinland.

I finally got my buying opportunity during business hours. Unfortunately it's the middle of January and I could only afford a single coin. Better than no coins I suppose.

Luckily I woke up early and ran right out to buy so I only paid $390. Was that the last chance to buy for less than $400?

[aztecminer]

Wow, that's a lot of news...

Seems like btc is going through lots of troubles. I hope it'll go through them, don't want to see btc crash and die now :/

those problems have been there for awhile. i think there is something similar problem still brewing.

[soullyG]

If we don't drop below ~$370 on this latest push down then I'm feeling bullish as fuck

[aztecminer]

wut ? we gotta do wut "blockchain blacklists" ? ok everyone all chant at same time: "china must go" "we want blockchain blacklists"!  .... follow up with a give me a "WOOT WOOT" .

Clearly their influence is making Bitcoin too inscrutable. Possibly even more dangerous than centralization.

yes.. the evil chinese miners and their evil Huobi must GO! there is no choice, the evil chinese has forced us to implement "blockchain blacklists" . we're putting chinese miners on no-fly lists too.

[Richy_T]

Next up, I think full blocks vs time and probably fees vs time.

Have you seen someone break down the fee/non-fee transaction distribution lately? I would think people are already starting to add extra fees. I know I am.

I'm pretty sure that non-fee transactions are all-but gone. That's why the mempool just grows and grows. There was no mechanism for expiring transactions though I believe that was added to Core in October (not sure if it's in the current stable release yet though). Core will no longer relay them by default and with blocks full on a regular basis, why would miners bother?

[Richy_T]

wut ? we gotta do wut "blockchain blacklists" ? ok everyone all chant at same time: "china must go" "we want blockchain blacklists"!  .... follow up with a give me a "WOOT WOOT" .

Clearly their influence is making Bitcoin too inscrutable. Possibly even more dangerous than centralization.

yes.. the evil chinese miners and their evil Huobi must GO! there is no choice, the evil chinese has forced us to implement "blockchain blacklists" . we're putting chinese miners on no-fly lists too.

No-no. That's for Nigerian scammers. Redlists for the Ruskies and yellowlists for the Asians.

[coins101]

wut ? we gotta do wut "blockchain blacklists" ? ok everyone all chant at same time: "china must go" "we want blockchain blacklists"!  .... follow up with a give me a "WOOT WOOT" .

Clearly their influence is making Bitcoin too inscrutable. Possibly even more dangerous than centralization.

yes.. the evil chinese miners and their evil Huobi must GO! there is no choice, the evil chinese has forced us to implement "blockchain blacklists" . we're putting chinese miners on no-fly lists too.

By the sound of it increasing blocks will invoke the great fire wall of China and btc will become more decentralised almost overnight.

It's like asking turkeys to vote for Christmas

[aztecminer]

100% filled block and price on the downside, not a good morning for me at the moment.
I need some coffee to wake up and analyze WTF happened tonight

It has nothing to do with a few full blocks; actually that doesn't ever impact the price. This was caused by Hearn who should be listed as one of the worst people that were ever in the Bitcoin ecosystem & Cryptsy. Hearn basically declared Bitcoin as dead/dying and the media caught it, a fine exaple of a evil and backstabbing person.

sounds like he knows bitcoin wasn't ready to be pumped.

[Richy_T]

It's like asking turkeys to vote for Christmas

Logistical nightmare. The lack of an opposable thumb really limits your options.