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

[JayJuanGee]

I think I finally understand the true nature of this controversy: Smallblockers are Jacobites.

A little background:  Jacobites are those that claim that the Royal Family of England are not the true heirs because somewhere way back, the rules of succession were not properly followed and the Elector of Hanover was crowned king mainly because he wasn't Catholic.  Jacobites are correct, but what they don't seem to understand is that it doesn't matter at all.  At this point in history nobody is going to take the crown off of Lizzy and plop in onto Prince Alois of Lichtenstein or whoever. Not. gonna. happen. Rules of succession were made to ensure orderly transition of power, not the other way around.

In our version,  Smallblockers think that non-core code is by definition not Bitcoin. So if the miners adopt Classic (or whatever), that network of miners, nodes, exchanges, wallets, etc is no longer Bitcoin.  AGAIN, that may be literally true (if you accept that definition) but it won't matter at all.  The true definer of consensus is reality.  Will that network be viable? I don't know the answer to that, but it is virtually certain that the jacobite (Core) fork will not.  Hashpower secures the network.

your ability to relate anything to bitcoin's current situation is amazing.


anyway,

i was trying to explain the situation to my dad, and he kept bugging on " everyone will just stick to Bitcoin the original  if there's no consensus. " i didnt have time to finish the convo i had to run out the door, but here what i will tell him tomorrow.

"
that is not what will happen
forget it, "Bitcoin the original" doesn't exist even today.
either we all come together ( segwit + 2MB ) and call it bitcoin with Core as the "government"
or there will be a fork, and each impl will change in their own way.
there is no "original" there is only 2 new coins Core and Classic
each with their own hashing power, each with there own new impls.
this should be avoided, but at this point miners are on the brink.
I know you like the Idea of bitcoin being the "Backbone" to a second layer, but >80% of the hashing power disagrees.
I for one will not fallow Mr Blue hair and BS BlockStream team ( whose president is nowhere to be found -_- )
maybe i'm going nuts! ( it wouldn't be the first time, and it sure as hell won't be the last )
but i think it would be prudent to make damn sure ALL your coins are under your control, incase the fork happens tomorrow.
"

hahahahahaha...

Listen to your dad... he sounds correct, even if he doesn't really know what he is talking about.

There is generally a presumption of maintaining the status quo, and probably, that is the point that he is making regarding saying bitcoin the original will live on.  hahahahaha



YOU GO>>>>>>>>> DADDY AdamstgBit!!!!!!!!!!

Most miners, particularly Chinese miners don't give a shit about Bitcoin other than as a revenue source. They will perpetuate the status quo as long as it makes them money and not a second longer.  Already you see some of them trying to find a face-saving way to back out of the Roundtable Consensus because they know or suspect that it's too little too late for scaling and that Core won't ever honor it anyway. In fact, according to their own rules, they CAN'T honor it.

The status quo is good for BTC price until blocks are full and then it's bad.  Blocks are almost full. The future is full of uncertainty. Markets hate uncertainty.

Yes, and if we end up switching to classic, then classic becomes the deal....   I doubt that any switch is happening any time soon, even though you seem to be attempting to describe way more uncertainty than actually exists in reality.

Yes, we may get another dump.  I have no idea, but bitcoin is far from ded, at the moment, and there is a decent chance that today, we could experience a pump, rather than a dump.

At the moment, I am kind of more inclined to see another dump (maybe 53% 47%), but I don't really have any crystal ball.

[adamstgBit]

I think I finally understand the true nature of this controversy: Smallblockers are Jacobites.

A little background:  Jacobites are those that claim that the Royal Family of England are not the true heirs because somewhere way back, the rules of succession were not properly followed and the Elector of Hanover was crowned king mainly because he wasn't Catholic.  Jacobites are correct, but what they don't seem to understand is that it doesn't matter at all.  At this point in history nobody is going to take the crown off of Lizzy and plop in onto Prince Alois of Lichtenstein or whoever. Not. gonna. happen. Rules of succession were made to ensure orderly transition of power, not the other way around.

In our version,  Smallblockers think that non-core code is by definition not Bitcoin. So if the miners adopt Classic (or whatever), that network of miners, nodes, exchanges, wallets, etc is no longer Bitcoin.  AGAIN, that may be literally true (if you accept that definition) but it won't matter at all.  The true definer of consensus is reality.  Will that network be viable? I don't know the answer to that, but it is virtually certain that the jacobite (Core) fork will not.  Hashpower secures the network.

your ability to relate anything to bitcoin's current situation is amazing.


anyway,

i was trying to explain the situation to my dad, and he kept bugging on " everyone will just stick to Bitcoin the original  if there's no consensus. " i didnt have time to finish the convo i had to run out the door, but here what i will tell him tomorrow.

"
that is not what will happen
forget it, "Bitcoin the original" doesn't exist even today.
either we all come together ( segwit + 2MB ) and call it bitcoin with Core as the "government"
or there will be a fork, and each impl will change in their own way.
there is no "original" there is only 2 new coins Core and Classic
each with their own hashing power, each with there own new impls.
this should be avoided, but at this point miners are on the brink.
I know you like the Idea of bitcoin being the "Backbone" to a second layer, but >80% of the hashing power disagrees.
I for one will not fallow Mr Blue hair and BS BlockStream team ( whose president is nowhere to be found -_- )
maybe i'm going nuts! ( it wouldn't be the first time, and it sure as hell won't be the last )
but i think it would be prudent to make damn sure ALL your coins are under your control, incase the fork happens tomorrow.
"

hahahahahaha...

Listen to your dad... he sounds correct, even if he doesn't really know what he is talking about.

There is generally a presumption of maintaining the status quo, and probably, that is the point that he is making regarding saying bitcoin the original will live on.  hahahahaha



YOU GO>>>>>>>>> DADDY AdamstgBit!!!!!!!!!!

my dad's an ivory tower type thinker, that for sure.


but say tomorrow 80% hashing switch to classic and the HF will be activated in 28 days ( or wtv the grace period is )
what then what is "bitcoin the original"??
Core's segwit + 0.5MB blocks
or Classics 2MB blocks
you see there is no such thing as bitcoin the original!!!

There's not going to be any 80% hashing power switch to classic.

There's not enough support there... so therefore, we still be considering core to be the original.

No?    How many blocks have been mined by Classic?  Less than 10?

At this point, it seems way too speculative to suggest that in any time in the near future classic could become perceived as the original, even for this speculation thread.

the other day 80% of the hashing power said " we are so fed up of you, if you don't listen to us a little we will switch to classic"

agreement was signed

now this agreement LOOKS like it might fall apart, again today one of the big chinese pools threatened to switch to classic. and we have BS BlockStream again not willing to listen;

[BlindMayorBitcorn]

...and we're still above $420. Dafuq

[JayJuanGee]

I think I finally understand the true nature of this controversy: Smallblockers are Jacobites.

A little background:  Jacobites are those that claim that the Royal Family of England are not the true heirs because somewhere way back, the rules of succession were not properly followed and the Elector of Hanover was crowned king mainly because he wasn't Catholic.  Jacobites are correct, but what they don't seem to understand is that it doesn't matter at all.  At this point in history nobody is going to take the crown off of Lizzy and plop in onto Prince Alois of Lichtenstein or whoever. Not. gonna. happen. Rules of succession were made to ensure orderly transition of power, not the other way around.

In our version,  Smallblockers think that non-core code is by definition not Bitcoin. So if the miners adopt Classic (or whatever), that network of miners, nodes, exchanges, wallets, etc is no longer Bitcoin.  AGAIN, that may be literally true (if you accept that definition) but it won't matter at all.  The true definer of consensus is reality.  Will that network be viable? I don't know the answer to that, but it is virtually certain that the jacobite (Core) fork will not.  Hashpower secures the network.

your ability to relate anything to bitcoin's current situation is amazing.


anyway,

i was trying to explain the situation to my dad, and he kept bugging on " everyone will just stick to Bitcoin the original  if there's no consensus. " i didnt have time to finish the convo i had to run out the door, but here what i will tell him tomorrow.

"
that is not what will happen
forget it, "Bitcoin the original" doesn't exist even today.
either we all come together ( segwit + 2MB ) and call it bitcoin with Core as the "government"
or there will be a fork, and each impl will change in their own way.
there is no "original" there is only 2 new coins Core and Classic
each with their own hashing power, each with there own new impls.
this should be avoided, but at this point miners are on the brink.
I know you like the Idea of bitcoin being the "Backbone" to a second layer, but >80% of the hashing power disagrees.
I for one will not fallow Mr Blue hair and BS BlockStream team ( whose president is nowhere to be found -_- )
maybe i'm going nuts! ( it wouldn't be the first time, and it sure as hell won't be the last )
but i think it would be prudent to make damn sure ALL your coins are under your control, incase the fork happens tomorrow.
"

hahahahahaha...

Listen to your dad... he sounds correct, even if he doesn't really know what he is talking about.

There is generally a presumption of maintaining the status quo, and probably, that is the point that he is making regarding saying bitcoin the original will live on.  hahahahaha



YOU GO>>>>>>>>> DADDY AdamstgBit!!!!!!!!!!

my dad's an ivory tower type thinker, that for sure.


but say tomorrow 80% hashing switch to classic and the HF will be activated in 28 days ( or wtv the grace period is )
what then what is "bitcoin the original"??
Core's segwit + 0.5MB blocks
or Classics 2MB blocks
you see there is no such thing as bitcoin the original!!!

There's not going to be any 80% hashing power switch to classic.

There's not enough support there... so therefore, we still be considering core to be the original.

No?    How many blocks have been mined by Classic?  Less than 10?

At this point, it seems way too speculative to suggest that in any time in the near future classic could become perceived as the original, even for this speculation thread.

the other day 80% of the hashing power said " we are so fed up of you, if you don't listen to us a little we will switch to classic"

agreement was signed

now this agreement LOOKS like it might fall apart, again today one of the big chinese pools threatened to switch to classic. and we have BS BlockStream again not willing to listen;

O.k.  Well, maybe I do not understand the facts, enough.  I thought that classic mined less than 10 blocks, so far...

And, if there are like 10 blocks a day mined by classic, then maybe it could become more significant, no? 



Edit:  Maybe I better sell a few more of my coins... ?         



on the fencevvvv

[adamstgBit]

if blockstream team was canadian, they would've said "Sorry" a millions times already, but no they are hard headed americans( right? )

[BlindMayorBitcorn]

Someone on Reddit proposed BitcoinRadical today: to fork away from the Commies, you see.  

[Cconvert2G36]

Are all zero fee transactions included in Litecoin, Dash, monero, etherium?  Bitcoin is losing market share because competitors are underpricing us. 

I'm sure they'd be ever so excited to receive any actual transactions regardless of fees.

Whell, at least they got a monero logo placed on the top thread of both r/btc and r/bitcoin for most of today... nice work iCE. 

[adamstgBit]

I think I finally understand the true nature of this controversy: Smallblockers are Jacobites.

A little background:  Jacobites are those that claim that the Royal Family of England are not the true heirs because somewhere way back, the rules of succession were not properly followed and the Elector of Hanover was crowned king mainly because he wasn't Catholic.  Jacobites are correct, but what they don't seem to understand is that it doesn't matter at all.  At this point in history nobody is going to take the crown off of Lizzy and plop in onto Prince Alois of Lichtenstein or whoever. Not. gonna. happen. Rules of succession were made to ensure orderly transition of power, not the other way around.

In our version,  Smallblockers think that non-core code is by definition not Bitcoin. So if the miners adopt Classic (or whatever), that network of miners, nodes, exchanges, wallets, etc is no longer Bitcoin.  AGAIN, that may be literally true (if you accept that definition) but it won't matter at all.  The true definer of consensus is reality.  Will that network be viable? I don't know the answer to that, but it is virtually certain that the jacobite (Core) fork will not.  Hashpower secures the network.

your ability to relate anything to bitcoin's current situation is amazing.


anyway,

i was trying to explain the situation to my dad, and he kept bugging on " everyone will just stick to Bitcoin the original  if there's no consensus. " i didnt have time to finish the convo i had to run out the door, but here what i will tell him tomorrow.

"
that is not what will happen
forget it, "Bitcoin the original" doesn't exist even today.
either we all come together ( segwit + 2MB ) and call it bitcoin with Core as the "government"
or there will be a fork, and each impl will change in their own way.
there is no "original" there is only 2 new coins Core and Classic
each with their own hashing power, each with there own new impls.
this should be avoided, but at this point miners are on the brink.
I know you like the Idea of bitcoin being the "Backbone" to a second layer, but >80% of the hashing power disagrees.
I for one will not fallow Mr Blue hair and BS BlockStream team ( whose president is nowhere to be found -_- )
maybe i'm going nuts! ( it wouldn't be the first time, and it sure as hell won't be the last )
but i think it would be prudent to make damn sure ALL your coins are under your control, incase the fork happens tomorrow.
"

hahahahahaha...

Listen to your dad... he sounds correct, even if he doesn't really know what he is talking about.

There is generally a presumption of maintaining the status quo, and probably, that is the point that he is making regarding saying bitcoin the original will live on.  hahahahaha



YOU GO>>>>>>>>> DADDY AdamstgBit!!!!!!!!!!

my dad's an ivory tower type thinker, that for sure.


but say tomorrow 80% hashing switch to classic and the HF will be activated in 28 days ( or wtv the grace period is )
what then what is "bitcoin the original"??
Core's segwit + 0.5MB blocks
or Classics 2MB blocks
you see there is no such thing as bitcoin the original!!!

There's not going to be any 80% hashing power switch to classic.

There's not enough support there... so therefore, we still be considering core to be the original.

No?    How many blocks have been mined by Classic?  Less than 10?

At this point, it seems way too speculative to suggest that in any time in the near future classic could become perceived as the original, even for this speculation thread.

the other day 80% of the hashing power said " we are so fed up of you, if you don't listen to us a little we will switch to classic"

agreement was signed

now this agreement LOOKS like it might fall apart, again today one of the big chinese pools threatened to switch to classic. and we have BS BlockStream again not willing to listen;

O.k.  Well, maybe I do not understand the facts, enough.  I thought that classic mined less than 10 blocks, so far...

And, if there are like 10 blocks a day mined by classic, then maybe it could become more significant, no?  



Edit:  Maybe I better sell a few more of my coins... ?      



on the fencevvvv

the miners can switch 80% hashing power to classic at a moment's notice. that is what they are threatening  to do.

but hold your sells.

once the fork's grace period is started, everyone will go nut withdrawing bitcoin off the exchanges. and it's not clear that the market will dislike the fact that china is taking the lead. we could see some weird bump to 750 due to weird market conditions... it's possible...
would a market that is lead by chain feel its bearish that chinese miners show there teeth? i'm not so sure.


we are getting ahead of ourselves... but this is the point of   Speculation, staying 1 step ahead

[billyjoeallen]

blocks are completely full
every single one
my 1cent fee tx has yet to be mined

They are full precisely because almost all near-zero fee transactions are currently included.

Are all zero fee transactions included in Litecoin, Dash, monero, etherium?  Bitcoin is losing market share because competitors are underpricing us. 

Just open a block explorer and you'll see LTC and DASH has like 4-5-6 tx/block, monero is at 0-1.

BTC does like 2000 txs/block.

You are either gaining market share or you are losing it. It doesn't matter how far of a lead you have. if your competitor is picking up speed and you are slowing down, in a long enough race, you will lose.

no coin has had the heat thrown at it that bitcoin has ... if any of them get big enough to warrant more than a 'meh' then the blow torch comes on them.

I want to see the BS of V. Buterin explode into a full-blown internet rage war, PoS ethereum is going to encourage some truly sick politicking, you thought PoW chinese miners was an 'issue'?

No coin...yet. We seem to be talking past each other. Look, there can be only one "most marketable commodity" by definition. Another word for that term is "money".  In order for something to be marketable, you have to be able to bring it to market. To exchange it.  NO cryptocoin is money yet, but no cryptocoin will ever become money if it can't be exchangeable in the frequencies money needs to be exchanged.

If Etherium has more utility due to smart contracts, turing completeness or whatever, it will gain market share faster. PoS has serious problems and I've always said that, but it turns our PoW also has a serious problem: Chinese electricity and labor cost advantages means ANY PoW plan may result in the same loss of censorship resistance Bitcoin is experiencing with mining overdevelopment and concentration in one political jurisdiction.

 

[adamstgBit]

Someone on Reddit proposed BitcoinRadical today: to fork away from the Commies, you see.  

Censorship-Coin?

[BlindMayorBitcorn]

blocks are completely full
every single one
my 1cent fee tx has yet to be mined

They are full precisely because almost all near-zero fee transactions are currently included.

Are all zero fee transactions included in Litecoin, Dash, monero, etherium?  Bitcoin is losing market share because competitors are underpricing us. 

Just open a block explorer and you'll see LTC and DASH has like 4-5-6 tx/block, monero is at 0-1.

BTC does like 2000 txs/block.

You are either gaining market share or you are losing it. It doesn't matter how far of a lead you have. if your competitor is picking up speed and you are slowing down, in a long enough race, you will lose.

no coin has had the heat thrown at it that bitcoin has ... if any of them get big enough to warrant more than a 'meh' then the blow torch comes on them.

I want to see the BS of V. Buterin explode into a full-blown internet rage war, PoS ethereum is going to encourage some truly sick politicking, you thought PoW chinese miners was an 'issue'?

No coin...yet. We seem to be talking past each other. Look, there can be only one "most marketable commodity" by definition. Another word for that term is "money".  In order for something to be marketable, you have to be able to bring it to market. To exchange it.  NO cryptocoin is money yet, but no cryptocoin will ever become money if it can't be exchangeable in the frequencies money needs to be exchanged.

If Etherium has more utility due to smart contracts, turing completeness or whatever, it will gain market share faster. PoS has serious problems and I've always said that, but it turns our PoW also has a serious problem: Chinese electricity and labor cost advantages means ANY PoW plan may result in the same loss of censorship resistance Bitcoin is experiencing with mining overdevelopment and concentration in one political jurisdiction.

 

Caspar? POS? Vitalik's a cowboy. Will any of that even blend?

[adamstgBit]

i'm going to sell my ETH once bitcoin is boring again.

[BlindMayorBitcorn]

i'm going to sell my ETH once bitcoin is boring again.

Create a DAO first, or a criminal smart contract. Those things seem pretty cool.  

Then jizz all over its face.

[JayJuanGee]

i just send 1$ to 1LBHYYEbd8eqrfi9PiSEkj35e9vM3iZEFm with a 1cent fee

lets see what happens...

sending it now...

https://blockchain.info/address/1LBHYYEbd8eqrfi9PiSEkj35e9vM3iZEFm

if this dont work ill send it with a 5cent fee.

current block height 399867

Damn, 1 cent fee is 1% it's far too much already!
I usually pay a 0.1% fee and it goes in the first blocks!

Fees go per kilobytes used in the blockchain, not per amount sent. The blockchain doesn't care if you send 0.01 btc or 10 btc - only about how much space is used by the transaction.

Well. Logical I suppose. But how do you know the size of your transaction?

side note, my TX is the min size ~256bytes

block height 399870

0 confirmations

I have begun this experiment too, with transferring approximately $1 (although I think that the same fee will pretty much apply for a $100 or $1,000.

I sent it 3 times, and I adjusted the fee to be either .0001 BTC per kilobyte ($.04 fee), .000025 per kilobyte ($.01 fee) and .00001 per kilobyte ($.004 fee).


The higher two showed up on the receiving end without confirmations within a couple of minutes of my sending them; however the lowest one, which is essentially nearly no fees, has not yet even shown up on the other end, so far, after 22 minutes. 

I will attempt to check the extent of the update, every 30 minutes in order to verify whether they have confirmations.

So far only one of my three transactions have gone through (listed below from higher fee to lower fee).  The first transaction included the standard fees, and the second two included lower than the standard fees.

1)  $1.06  (.0025  BTC)        sent 6 hours ago            Fee .0001 btc ($.04)  (.0001 BTC per kilobyte)  - Immediately showed up on receiving end, and 3 confirmations and available for use after 1 hour and 12 minutes.

2) $1.20 (.002855 BTC)        sent 6 hours ago            Fee .000025 btc ($.01) (.000025 BTC per kilobyte)   - Immediately showed up on receiving end, and so far 0 confirmations and after 5 hours disappeared from receiving end

3) $1       (.00236  BTC)        sent 6 hours ago            Fee .00001 btc ($.004) (.00001 BTC per kilobyte)   - So far has not shown up on receiving end and 0 confirmations

I conclude that including the standard fees helps to ensure that your transaction goes through in a timely manner.  Maybe I will provide another update, later, if these last two transactions ever go through?
 

[adamstgBit]

i just send 1$ to 1LBHYYEbd8eqrfi9PiSEkj35e9vM3iZEFm with a 1cent fee

lets see what happens...

sending it now...

https://blockchain.info/address/1LBHYYEbd8eqrfi9PiSEkj35e9vM3iZEFm

if this dont work ill send it with a 5cent fee.

current block height 399867

Damn, 1 cent fee is 1% it's far too much already!
I usually pay a 0.1% fee and it goes in the first blocks!

Fees go per kilobytes used in the blockchain, not per amount sent. The blockchain doesn't care if you send 0.01 btc or 10 btc - only about how much space is used by the transaction.

Well. Logical I suppose. But how do you know the size of your transaction?

side note, my TX is the min size ~256bytes

block height 399870

0 confirmations

I have begun this experiment too, with transferring approximately $1 (although I think that the same fee will pretty much apply for a $100 or $1,000.

I sent it 3 times, and I adjusted the fee to be either .0001 BTC per kilobyte ($.04 fee), .000025 per kilobyte ($.01 fee) and .00001 per kilobyte ($.004 fee).


The higher two showed up on the receiving end without confirmations within a couple of minutes of my sending them; however the lowest one, which is essentially nearly no fees, has not yet even shown up on the other end, so far, after 22 minutes. 

I will attempt to check the extent of the update, every 30 minutes in order to verify whether they have confirmations.

So far only one of my three transactions have gone through (listed below from higher fee to lower fee).  The first transaction included the standard fees, and the second two included lower than the standard fees.

1)  $1.06  (.0025  BTC)        sent 6 hours ago            Fee .0001 btc ($.04)  (.0001 BTC per kilobyte)  - Immediately showed up on receiving end, and 3 confirmations and available for use after 1 hour and 12 minutes.

2) $1.20 (.002855 BTC)        sent 6 hours ago            Fee .000025 btc ($.01) (.000025 BTC per kilobyte)   - Immediately showed up on receiving end, and so far 0 confirmations and after 5 hours disappeared from receiving end

3) $1       (.00236  BTC)        sent 6 hours ago            Fee .00001 btc ($.004) (.00001 BTC per kilobyte)   - So far has not shown up on receiving end and 0 confirmations

I conclude that including the standard fees helps to ensure that your transaction goes through in a timely manner.  Maybe I will provide another update, later, if these last two transactions ever go through?
 

now, define "standard fees" in a way that wont be obsolete in 10 days

[marcus_of_augustus]

but it turns our PoW also has a serious problem: Chinese electricity and labor cost advantages means ANY PoW plan may result in the same loss of censorship resistance Bitcoin is experiencing with mining overdevelopment and concentration in one political jurisdiction.

there is no "serious" problem with PoW ... as much as you repeat the lie/propaganda it's not going to fly; the chinese miners will scrap each other for every bitcoin reward the same as any other 'western' bitcoin miners

what's going to be your next FUD hobby horse? you are following the same FUD playbook as JTrolfi now ... mining flawed ... china (xenophobic pandering) 'issues' ... developers arguing ... gubmint regulation ... omg bitcoin doom! ... rinse repeat, at least come up with something original

[billyjoeallen]

Someone on Reddit proposed BitcoinRadical today: to fork away from the Commies, you see.  

Censorship-Coin?

I saw it earlier but can't find it now. Hey, has anyone noticed that two of the signatories on the CRTA are Han Solo and Wang Chung?

[iCEBREAKER]

Nay!
Blogchain knoweth of Adam and his doings; the Blogchain revengeth! Blogchain is jealous and dost judge and punish him!
For it is written, Thou shalt not tempt the Blogchain thy Blogchain.

Any so foolish as to poke, tickle, or otherwise Disturb the Holy Honey Blogger shall be sore vexed with His sharpened Claws, and pointy Teeth, as well as the the stings of His Bees and bite of His Cobra.  Also, being trampled by a retreating, panick-stricken Zebra is not out of the question.

Let napping Honey Bloggers lie, for you are Mortal and contain many pain-transmitting nerves, while They really do Not give a shit.

[billyjoeallen]

but it turns our PoW also has a serious problem: Chinese electricity and labor cost advantages means ANY PoW plan may result in the same loss of censorship resistance Bitcoin is experiencing with mining overdevelopment and concentration in one political jurisdiction.

there is no "serious" problem with PoW ... as much as you repeat the lie/propaganda it's not going to fly; the chinese miners will scrap each other for every bitcoin reward the same as any other 'western' bitcoin miners

what's going to be your next FUD hobby horse? you are following the same FUD playbook as JTrolfi now ... mining flawed ... china (xenophobic pandering) 'issues' ... developers arguing ... gubmint regulation ... omg bitcoin doom! ... rinse repeat, at least come up with something original

Listen, Fuknut. It's not the miners. I've said that all along. It's the people who could point guns at the miners any time they want. That's what censorship is, you tiresome Jacobite.

[JayJuanGee]

i just send 1$ to 1LBHYYEbd8eqrfi9PiSEkj35e9vM3iZEFm with a 1cent fee

lets see what happens...

sending it now...

https://blockchain.info/address/1LBHYYEbd8eqrfi9PiSEkj35e9vM3iZEFm

if this dont work ill send it with a 5cent fee.

current block height 399867

Damn, 1 cent fee is 1% it's far too much already!
I usually pay a 0.1% fee and it goes in the first blocks!

Fees go per kilobytes used in the blockchain, not per amount sent. The blockchain doesn't care if you send 0.01 btc or 10 btc - only about how much space is used by the transaction.

Well. Logical I suppose. But how do you know the size of your transaction?

side note, my TX is the min size ~256bytes

block height 399870

0 confirmations

I have begun this experiment too, with transferring approximately $1 (although I think that the same fee will pretty much apply for a $100 or $1,000.

I sent it 3 times, and I adjusted the fee to be either .0001 BTC per kilobyte ($.04 fee), .000025 per kilobyte ($.01 fee) and .00001 per kilobyte ($.004 fee).


The higher two showed up on the receiving end without confirmations within a couple of minutes of my sending them; however the lowest one, which is essentially nearly no fees, has not yet even shown up on the other end, so far, after 22 minutes. 

I will attempt to check the extent of the update, every 30 minutes in order to verify whether they have confirmations.

So far only one of my three transactions have gone through (listed below from higher fee to lower fee).  The first transaction included the standard fees, and the second two included lower than the standard fees.

1)  $1.06  (.0025  BTC)        sent 6 hours ago            Fee .0001 btc ($.04)  (.0001 BTC per kilobyte)  - Immediately showed up on receiving end, and 3 confirmations and available for use after 1 hour and 12 minutes.

2) $1.20 (.002855 BTC)        sent 6 hours ago            Fee .000025 btc ($.01) (.000025 BTC per kilobyte)   - Immediately showed up on receiving end, and so far 0 confirmations and after 5 hours disappeared from receiving end

3) $1       (.00236  BTC)        sent 6 hours ago            Fee .00001 btc ($.004) (.00001 BTC per kilobyte)   - So far has not shown up on receiving end and 0 confirmations

I conclude that including the standard fees helps to ensure that your transaction goes through in a timely manner.  Maybe I will provide another update, later, if these last two transactions ever go through?
 

now, define "standard fees" in a way that wont be obsolete in 10 days

hahahaha...   I think that I meant standard fees as the amount that was set by default in my blockchain app (and that was .0001BTC per kilobyte, which usually will cause the fee to be either .0001BTC or possibly .0002BTC in medium and regular sized transactions - currently $.04 or $.08)