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

[blunderer]

anyone else feeling increasingly bullish?

Ummm, no... How about this?
https://www.reddit.com/r/Bitcoin/comments/46354z/most_bitcoin_clients_affected_by_glibc_dns/

What does that mean for the technologically disabled such as myself and the many others here too ashamed to admit it?

http://arstechnica.com/security/2016/02/extremely-severe-bug-leaves-dizzying-number-of-apps-and-devices-vulnerable/

TL;DR: We're screwed; GNU (neckbeard cow) C Library to blame; Windows users (mostly) unaffected

[adamstgBit]

when the next 24 hours are truly critical, there will be 3 types of users surfing the net, users HODLING, users wanting to HODL, and retards trying to figure out to get shit tons of freshly acquired fiat into their bank accounts in less than 24 hours before its completely worthless. 

[Gyrsur]

serious question. should we fork to sha-3? to give the chinese folks a little hint not to destroy markets, maybe they won't learn it otherwise because of their government.

[blunderer]

when the next 24 hours are truly critical, there will be 3 types of users surfing the net, users HODLING, users wanting to HODL, and retards trying to figure out to get shit tons of freshly acquired fiat into their bank accounts in less than 24 hours before its completely worthless.  

It's OK to poop yourself in fear right now, Adam. I would, if I was hodling.
P.S. I'd change that Poor Man's Windows avatar double-quick, people are gonna be out for blood...

[JimboToronto]

when the next 24 hours are truly critical, there will be 3 types of users surfing the net, users HODLING, users wanting to HODL, and retards trying to figure out to get shit tons of freshly acquired fiat into their bank accounts in less than 24 hours before its completely worthless. 

 

[BlindMayorBitcorn]

Researchers from Cornell have come up with a cost per current transaction formula. Right now they estimate we're at $6.2/tx.

[Adrian-x]

actually a 2MB block is about the same size as an average webpage over the last 2 years. It's not about bandwidth or capacity, its about control and investment FUD.  

do a resync of the blockchain :
- first 30Gb = 6 years of Bitcoin
- last 30Gb = 1 years and 8 week of ... Bitcoin

Yes, SegWit is safe heaven for privat node.

in today's world 6TB of disk space $300
(100% growth in bitcoin = 2MB blocks ~60GB / year)

- $300 = 100 years of storage space @ 2MB blocks.

**SegWit is safe heaven for ignorance for everyone else we need bitcoin growth.**

note to the ignorant, (@Meuh6879) its not about blockchain size so much as it's about p2p bandwidth for transmitting blocks, which has improved exponentially in 6 years.

SegWit does not reduce network capacity to transmit blocks, if anything it increases miners orphan risk as they now have a higher computational necessity to validate a block before a block can be validated and relayed.  

[ChartBuddy]

Coin



Explanation

[hdbuck]

actually a 2MB block is about the same size as an average webpage over the last 2 years. It's not about bandwidth or capacity, its about control and investment FUD.  

do a resync of the blockchain :
- first 30Gb = 6 years of Bitcoin
- last 30Gb = 1 years and 8 week of ... Bitcoin

Yes, SegWit is safe heaven for privat node.

in today's world 6TB of disk space $300
(100% growth in bitcoin = 2MB blocks ~60GB / year)

- $300 = 100 years of storage space @ 2MB blocks.

**SegWit is safe heaven for ignorance for everyone else we need bitcoin growth.**

note to the ignorant, (@Meuh6879) its not about blockchain size so much as it's about p2p bandwidth for transmitting blocks, which has improved exponentially in 6 years.

SegWit does not reduce network capacity to transmit blocks, if anything it increases miners orphan risk as they now have a higher computational necessity to validate a block before a block can be validated and relayed.  

meh, ding dong daddy peter and frapdoc mama waiting for you in bitco.in and r/btc.

you are irrelevant here.

[BlindMayorBitcorn]

Everybody back to their own echo chamber. This is srs.

[marcus_of_augustus]

adam turns bullish ... phone rings, coincidence?!
monkey goes all in ... minor fee event on the network, coincidence?!
deutsche bank poops its shorts ... bitcoin goes up, coincidence?!
Larry Summers gets killed with cash ... noone shall trade without the mark of the beast, coincidence?!

these are the signs of the blockopocalypse

[Fatman3001]

Everybody back to their own echo chamber. This is srs.

Relax, man! Tune in to the gospel of Adam:

do you need a kick in the ass to buy some bitcoin?

watch this:  https://www.youtube.com/watch?v=sWI4Qsqt-sU

[Adrian-x]

anyone else feeling increasingly bullish?

Ummm, no... How about this?
https://www.reddit.com/r/Bitcoin/comments/46354z/most_bitcoin_clients_affected_by_glibc_dns/

just looking at the reddit post   I'm banned form contributing there, otherwise id post this link below ( u/nullc calling it fud not a BTC problem and avoiding a patch.)

it looks like a patch is workable until your not OS is updated. so no big deal.
https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-345#post-12316

[BlindMayorBitcorn]

Everybody back to their own echo chamber. This is srs.

Relax, man! Tune in to the gospel of Adam:

do you need a kick in the ass to buy some bitcoin?

watch this:  https://www.youtube.com/watch?v=sWI4Qsqt-sU

"Reasons."

LOL

[marcus_of_augustus]

worth a skim ... bullish 
https://medium.com/@DDhopn/bitcoin-performed-better-than-stocks-commodities-bond-yields-e9481bfd640#.dhuv1dosh

[Adrian-x]

Researchers from Cornell have come up with a cost per current transaction formula. Right now they estimate we're at $6.2/tx.

that's a true cost but they don't understand bitcoin if they think that's what a transaction costs. that $6.2/tx is what us users are paying miners today to process transactions and every one is good with it. we all pay it with inflation. bitcoin needs orders of magnitudes of scale in transaction fees. We wont get it if the value of the network doesn't grow.  

[hdbuck]

...

We wont get it if the value of the network doesn't grow.  

rofl, wtf are you even talking about???






PS: about the network..

Hash Rate:   1,120,245,107 GH/s
Difficulty: 144,116,447,847
 

[BlindMayorBitcorn]

Researchers from Cornell have come up with a cost per current transaction formula. Right now they estimate we're at $6.2/tx.

that's a true cost but they don't understand bitcoin if they think that's what a transaction costs. that $6.2/tx is what us users are paying miners today to process transactions and every one is good with it. we all pay it with inflation. bitcoin needs orders of magnitudes of scale in transaction fees. We wont get it if the value of the network doesn't grow.  

This is from the position paper On Scaling Decentralized Blockchains. They understand very well that txs are subsidized by block rewards.

Here's the conclusion:
More aggressive scaling will in the longer term require fundamental protocol redesign.

 

[blunderer]

^
You'll probably be just fine.

[Meuh6879]

...

We wont get it if the value of the network doesn't grow.  

http://bitcoin.sipa.be/

Learn.