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

[ChartBuddy]

Coin



Explanation

[Cconvert2G36]

   
Is This The Bitcoin You Want? Because This Is The Bitcoin You Have

He paid too much, first of all. But this is the arena we are entering... one of uncertainty, bidding wars, and limited capacity... while the reward is 25 BTC per block.

We are should be planning for tomorrow, not today.

Ok but, it seems to be a growing number of technically-minded people agree that under any real adoption scenerio this is going to happen. What happens when we move from 3tps to 6 or 10? I don't know enough to know if SegWit is just a dirty hack or not. But they all appear to be just can-kicks towards the inevitable day when adoption outpaces blockspace and the bidding war begins.

Oh what a happy day... but you shouldn't clamp iron manacles on your legs while you're waiting for the cavalry to arrive. Sidechains... LN... SuperLN, they all need to compete on an even playing field. Miners compete for fees and block subsidy, and they choose what software they run. The exterior solutions should cater to them, not the other way around.

Yep. See that sounds right, too.

I guess we have to decentralize all the things by force..

It's the only force identified by satoshi for the handling of disputes. In a sense, it's the only authorized use of force in Bitcoin.  

You either believe that free market principles work, or you don't. Time, explain, sorry, etc.

[rebuilder]

I guess we have to decentralize all the things by force..

Maybe this was sarcasm, I'd have to read more from the previous discussion to tell.

In case it's not: It shouldn't be surprising mining is becoming more centralized, seeing as Bitcoin appears to have been designed with that expectation:
https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

" The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate."
('generating' being what mining was called way back,)

So yeah. From that, it seems if you want highly decentralized mining, you should take a hard look at whether Bitcoin is suitable to your purposes.

[ChartBuddy]

Coin



Explanation

[peonminer]

[ChartBuddy]

Coin



Explanation

[ChartBuddy]

Coin



Explanation

[molecular]

the battle of the blockchains

http://coinjournal.net/prediction-10-billion-will-be-invested-in-blockchain-startups-in-2016/

“It’s already started. I mean, my estimate is that we’re going to see $1 billion come into the Ethereum ecosystem in 2016 alone, and the general estimates for the amount of money going into the entire blockchain ecosystem, including Bitcoin, is on the order of $10 billion.”  - Vinay Gupta (original CypherPunk member)

from what i understand huge consortium of financial institutions invested in R3 (Mike Hearn) using the ethereum programming

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044


other financial institutions using the legacy open source linux hyperledger

ASX is testing this at the moment

bit hard to ignore other blockchains

how is it even a battle? I love bitcoin (first application of blockchain tech to create a money) and I don't see how these other efforts are competition at all. Banks want to keep their FIAT anyway, they're applying blockchain tech to other problems, like settlement of stock trade, tracking of asset ownership and the like. I applaud them because it can make the financial sector more efficient and above all: more transparent and therefore safer.

[Fatman3001]

the battle of the blockchains

http://coinjournal.net/prediction-10-billion-will-be-invested-in-blockchain-startups-in-2016/

“It’s already started. I mean, my estimate is that we’re going to see $1 billion come into the Ethereum ecosystem in 2016 alone, and the general estimates for the amount of money going into the entire blockchain ecosystem, including Bitcoin, is on the order of $10 billion.”  - Vinay Gupta (original CypherPunk member)

from what i understand huge consortium of financial institutions invested in R3 (Mike Hearn) using the ethereum programming

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044


other financial institutions using the legacy open source linux hyperledger

ASX is testing this at the moment

bit hard to ignore other blockchains

That is brilliantly clever. Suddenly the R3 project makes a whole more lot of sense.

[hdbuck]

the battle of the blockchains

http://coinjournal.net/prediction-10-billion-will-be-invested-in-blockchain-startups-in-2016/

“It’s already started. I mean, my estimate is that we’re going to see $1 billion come into the Ethereum ecosystem in 2016 alone, and the general estimates for the amount of money going into the entire blockchain ecosystem, including Bitcoin, is on the order of $10 billion.”  - Vinay Gupta (original CypherPunk member)

from what i understand huge consortium of financial institutions invested in R3 (Mike Hearn) using the ethereum programming

http://www.ibtimes.co.uk/r3-connects-11-banks-distributed-ledger-using-ethereum-microsoft-azure-1539044


other financial institutions using the legacy open source linux hyperledger

ASX is testing this at the moment

bit hard to ignore other blockchains

how is it even a battle? I love bitcoin (first application of blockchain tech to create a money) and I don't see how these other efforts are competition at all. Banks want to keep their FIAT anyway, they're applying blockchain tech to other problems, like settlement of stock trade, tracking of asset ownership and the like. I applaud them because it can make the financial sector more efficient and above all: more transparent and therefore safer.

Trippin balls i see..

[BlindMayorBitcorn]

I guess we have to decentralize all the things by force..

Maybe this was sarcasm, I'd have to read more from the previous discussion to tell.

In case it's not: It shouldn't be surprising mining is becoming more centralized, seeing as Bitcoin appears to have been designed with that expectation:
https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

" The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don't generate."
('generating' being what mining was called way back,)

So yeah. From that, it seems if you want highly decentralized mining, you should take a hard look at whether Bitcoin is suitable to your purposes.

No sarcasm. I'm humbly struggling with some heady ideas.

[ChartBuddy]

Coin



Explanation

[AlexGR]

   
Is This The Bitcoin You Want? Because This Is The Bitcoin You Have

cointape.com

Which fee should I use?

The fastest and cheapest transaction fee is currently 30 satoshis/byte, shown in green at the top.
For the median transaction size of 338 bytes, this results in a fee of 10,140 satoshis.


So first block inclusion for a normal tx is at 0.0001 right now, which is less than ...0.04$.

That's the bitcoin we have.

[BlindMayorBitcorn]

   
Is This The Bitcoin You Want? Because This Is The Bitcoin You Have

cointape.com

Which fee should I use?

The fastest and cheapest transaction fee is currently 30 satoshis/byte, shown in green at the top.
For the median transaction size of 338 bytes, this results in a fee of 10,140 satoshis.


So first block inclusion for a normal tx is at 0.0001 right now, which is less than ...0.04$.

That's the bitcoin we have.

If I didn't ask so many dumb questions I wouldn't learn so much. Don't mind me.

[BlindMayorBitcorn]

WTF just happened? Any news?

Bitcoin classic will release its code next week. Bitcoin is saved. BUY BUY BUY.

Source?

https://www.reddit.com/r/btc/comments/41qdrt/bitcoin_classic_update_email_for_subscribers_tldr/

There are like 40 Core contributors. Who's going to maintain this thing if we fork off?

So everybody is replaceable??

[BitUsher]

WTF just happened? Any news?

Bitcoin classic will release its code next week. Bitcoin is saved. BUY BUY BUY.

Source?

https://www.reddit.com/r/btc/comments/41qdrt/bitcoin_classic_update_email_for_subscribers_tldr/

There are like 40 Core contributors. Who's going to maintain this thing if we fork off?

So everybody is replaceable??

Some of the 45 would likely join classic. Some of the more talented ones , with much different principles and politics than the maintainers of classic are likely going to go elsewhere or start working on the new bitcoin chain. Some might sell their large investments like Hearn, many would likely slowly deinvest for maximum return while they volunteered to projects that they enjoy, where they aren't getting slandered and death threats, and which match their philosophy. I have seen this happen multiple times with open source projects. I have mixed feeling about staying together and splitting the chain... but it may all be for the best.  

[ChartBuddy]

Coin



Explanation

[ChartBuddy]

Coin



Explanation

[iCEBREAKER]

  I am currently serving a 30 day ban on /r/bitcoin   

  Blockstream is not interested in discussing anything with anyone, and openly censors people who do not back them 100%. 

Censorship martyrdom is so three weeks ago.

Why are you still here on thermos's forum?  Weren't you supposed to fuck off over to bitco.in?

Or did that forum die along with the pipe dream of Unlimited?

[bargainbin]

...
Some of the 45 would likely join classic. Some of the more talented ones , with much different principles and politics than the maintainers of classic are likely going to go elsewhere or start working on the new bitcoin chain. ...

And here ya are, and it's a beautiful day. Don'tcha know there's only one Bitcoin? Don'tcha know that? Well. I just don't understand it.

I can still hear you saying
You would never break the chain.

[5x]
Chain, keep us together
Running in the shadows