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

[solitude]

and market is ( or was at least ) pricing in this Mage FUD   buy buy buy!

Mage FUD?  Since when is the CEO of Coinbase a Mage?  Is this World of Warcraft?

And what exactly is FUD about what he said?  I'm no coinbase shill, I hate the company, but what he's saying is right.

Why the fuck are we still at 1mb blocksize?  Why are there so many FUDsters and SHILLS on the CORE side?

I stopped mining about a year about because I'm not a chink with free electricity, but I started running a classic node yesterday.

Fuck these Core Cocksuckers and their bankster special interests (and fuck theymos with a giant black dildo while we're at it, im sure his asshole's circumference is the size of a meteor crater anyway)




Make America Great Again!

[Fatman3001]

Aztecminer likely sold his account to a shill.  A year ago he was bullish and a active miner.

You can't fake his brand of crazy.

No offense, Aztec.

[ChartBuddy]

Coin



Explanation

[Chef Ramsay]

I just now notice that user tarmi has finally died from shorting bitcoin.

He got rekt and sold his account. Can't win.

Yeah, he got hot-boxed by the eternal bear market of yesteryear (after a long run of amazing profits - [I'm great at this and can do no wrong ]) and failed to adapt to the new wave in this market. His prior hubris and arrogance reminds me of at least 2 mainstays around here. We'll see if they get crushed as well. My sympathies. Not really.

[Chef Ramsay]

So, basically bitcoin is going to hell. Cuz Biff, Billy or Barnie said so. You selling the farm on this?

[ChartBuddy]

Coin



Explanation

[bitebits]

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Wouldn't that increase the intensity of the pump? Getting fiat to the exchanges to buy bitcoins is slow because of the antique clearing houses, but at least it is constant delay. Bitcoins sent to the exchanges on price rices are mostly meant to be sold. Having this delayed would only increase the pump right?

Whales who determine the bitcoin price will just increase their transaction fee to whatever price to be in the next block, so I don't think full blocks really have an effect to either direction of the price.

[billyjoeallen]

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Wouldn't that increase the intensity of the pump? Getting fiat to the exchanges to buy bitcoins is slow because of the antique clearing houses, but at least it is constant delay. Bitcoins sent to the exchanges on price rices are mostly meant to be sold. Having this delayed would only increase the pump right?

Whales who determine the bitcoin price will just increase their transaction fee to whatever price to be in the next block, so I don't think full blocks really have an effect to either direction of the price.

If you had varying water pressure at your house, where one day you had a torrent and the next day a trickle, would that make you want to buy stock in the water company?

[ChartBuddy]

Coin



Explanation

[orpington]

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Wouldn't that increase the intensity of the pump? Getting fiat to the exchanges to buy bitcoins is slow because of the antique clearing houses, but at least it is constant delay. Bitcoins sent to the exchanges on price rices are mostly meant to be sold. Having this delayed would only increase the pump right?

Whales who determine the bitcoin price will just increase their transaction fee to whatever price to be in the next block, so I don't think full blocks really have an effect to either direction of the price.

If you had varying water pressure at your house, where one day you had a torrent and the next day a trickle, would that make you want to buy stock in the water company?

What kind of bullshit analogy is that? lol

[DaRude]

Hidde ask wall on Finex at $400. Let's see how big it is 

[ChartBuddy]

Coin



Explanation

[AlexGR]

https://bitcoinfees.21.co/

The fastest and cheapest transaction fee is currently 30 satoshis/byte, shown in green at the top.
For the median transaction size of 306 bytes, this results in a fee of 9,180 satoshis.

9180 satoshis = 0.03 USD.

3 cents for "urgent" first block inclusion = nearly zero fees.

[Ibian]

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Wouldn't that increase the intensity of the pump? Getting fiat to the exchanges to buy bitcoins is slow because of the antique clearing houses, but at least it is constant delay. Bitcoins sent to the exchanges on price rices are mostly meant to be sold. Having this delayed would only increase the pump right?

Whales who determine the bitcoin price will just increase their transaction fee to whatever price to be in the next block, so I don't think full blocks really have an effect to either direction of the price.

If you had varying water pressure at your house, where one day you had a torrent and the next day a trickle, would that make you want to buy stock in the water company?

Yeah, it's the only water company in town.

[ChartBuddy]

Coin



Explanation

[Laosai]

and market is ( or was at least ) pricing in this Mage FUD   buy buy buy!

Ahah! Like this point of view

But yeah seems like the size issue is actually gonna be resolved more or less democratically!

[solitude]

So what happened to this fat piece of shit Mark Karpeles?  Did the nips off his fat ass in jail?

The kike media hasn't been reporting on him in months.

I guess the kikes were too busy spreading FUD about bitcoin.

[Andre#]

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Yeah, right, whatever.  


The last six months regarding the average block size look pretty stable to me, with a slightly upward trend in the chart.. and that upward trend in the approximately 60% capacity arena potentially could be nearly completely resolved by seg wit.

https://blockchain.info/charts/avg-block-size?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

After seg wit goes into effect, then we can assess the situation and regroup... ..

In other words, transactions etc seem to be going pretty well on the technical side of bitcoin, and maybe some of the public is coming to realize that there are really not any technical problems in bitcoin, and accordingly, if you keep doubling down in selling your supposedly existing coins based on these upward BTC price movements, we may be relieved of you from bitcoin and your baloney posts very, very soon.      

Okay, currently blocks are around 0.65 MB, almost double from one year ago (0.35 MB), while the average max. size is around 0.9 MB (assuming almost 1 in 10 blocks is empty). The local minimum average block sizes have been steadily going up in the past half year (which you call "pretty stable"):

- Sep: 0.39 MB
- Oct: 0.43 MB
- Dec: 0.49 MB
- Jan: 0.53 MB

Until mid 2015, the local maxima rarely came above 0.4 MB. That's anything but stable. At this rate, the shit hits the fan in a few months from now.

This graph shows the picture a bit more clearly.
https://blockchain.info/charts/avg-block-size?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

[Laosai]

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Yeah, right, whatever.  


The last six months regarding the average block size look pretty stable to me, with a slightly upward trend in the chart.. and that upward trend in the approximately 60% capacity arena potentially could be nearly completely resolved by seg wit.

https://blockchain.info/charts/avg-block-size?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

After seg wit goes into effect, then we can assess the situation and regroup... ..

In other words, transactions etc seem to be going pretty well on the technical side of bitcoin, and maybe some of the public is coming to realize that there are really not any technical problems in bitcoin, and accordingly, if you keep doubling down in selling your supposedly existing coins based on these upward BTC price movements, we may be relieved of you from bitcoin and your baloney posts very, very soon.      

Okay, currently blocks are around 0.65 MB, almost double from one year ago (0.35 MB), while the average max. size is around 0.9 MB (assuming almost 1 in 10 blocks is empty). The local minimum average block sizes have been steadily going up in the past half year (which you call "pretty stable"):

- Sep: 0.39 MB
- Oct: 0.43 MB
- Dec: 0.49 MB
- Jan: 0.53 MB

Until mid 2015, the local maxima rarely came above 0.4 MB. That's anything but stable. At this rate, the shit hits the fan in a few months from now.

This graph shows the picture a bit more clearly.
https://blockchain.info/charts/avg-block-size?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

Well thanks for the graph.

Indeed you can't really call that stable... I wonder what will happen if it hits the 0.9 before anything is done... Will the tx simply queue? They'll be proceeded in order or randomly? Maybe taking the fee into account?

You gotta take that into account too, even currently lots of tx might have no fee at all. For this one well they should do less transactions and pay a fee with it. That should help a little no?

[Andre#]

We're already seeing blocks fill up on this pump. I'm curious as to how a rally can be sustained when confirmation times take hours.

Yeah, right, whatever.  


The last six months regarding the average block size look pretty stable to me, with a slightly upward trend in the chart.. and that upward trend in the approximately 60% capacity arena potentially could be nearly completely resolved by seg wit.

https://blockchain.info/charts/avg-block-size?timespan=180days&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

After seg wit goes into effect, then we can assess the situation and regroup... ..

In other words, transactions etc seem to be going pretty well on the technical side of bitcoin, and maybe some of the public is coming to realize that there are really not any technical problems in bitcoin, and accordingly, if you keep doubling down in selling your supposedly existing coins based on these upward BTC price movements, we may be relieved of you from bitcoin and your baloney posts very, very soon.      

Okay, currently blocks are around 0.65 MB, almost double from one year ago (0.35 MB), while the average max. size is around 0.9 MB (assuming almost 1 in 10 blocks is empty). The local minimum average block sizes have been steadily going up in the past half year (which you call "pretty stable"):

- Sep: 0.39 MB
- Oct: 0.43 MB
- Dec: 0.49 MB
- Jan: 0.53 MB

Until mid 2015, the local maxima rarely came above 0.4 MB. That's anything but stable. At this rate, the shit hits the fan in a few months from now.

This graph shows the picture a bit more clearly.
https://blockchain.info/charts/avg-block-size?timespan=2year&showDataPoints=false&daysAverageString=7&show_header=true&scale=0&address=

Well thanks for the graph.

Indeed you can't really call that stable... I wonder what will happen if it hits the 0.9 before anything is done... Will the tx simply queue? They'll be proceeded in order or randomly? Maybe taking the fee into account?

You gotta take that into account too, even currently lots of tx might have no fee at all. For this one well they should do less transactions and pay a fee with it. That should help a little no?

A tiny minory of tx are processed without fees (214 in the past 24 hours, see https://bitcoinfees.21.co/ ). I think these are mostly payouts of mining pools to miners (what's the point of including a fee to pay yourself?), but I'm not sure. Miners can pick and chose which tx to process. So if there's a persistent lack of capacity, expect the ones with the lowest fees not to be processed. They will be stuck for some days until they expire.

The challenge will be predict what fee you need to pay to avoid your tx to end up stuck. Kind of like going to the supermarket and having to price yourself the items that you buy, running the risk that you'll never make it past the cashier because the price you picked was too low (while the cashiers serve the highest paying customers first).