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

[Fatman3001]

http://xtnodes.com/

13 classic blocks mined in the last 1000.

[ChartBuddy]

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[Fatman3001]

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?

If Ethereum manages to prove that PoS is safe on a large scale, Bitcoin might have to move to PoS as well.

Have there been any examples of PoS coins running in a true decentralized way?

Maybe Nxt, Peercoin certainly isn't. But those tiny shitcoins don't prove much.

It needs to be proven to handle large economic actors as well as a large number of users and large numbers of bad actors.

Ethereum is interesting in that it's not a currency, so a double spend or similar won't fundamentally harm its raison d'être.

That way they can afford to risk running an unproven technology like this, whereas Bitcoin can't.

[davedx]

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. 

That's fucking hilarious.   

The Venn diagram of Monero is pure genius (and represents the tip of an inverted 3-sided Exter Pyramid).  I expect the Redditurds will react to it like apes to the monolith in 2001.

Actually, nobody gives a flying fuck about your pet altcoin.

[ChartBuddy]

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[ChartBuddy]

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[billyjoeallen]

So now blocks have room again?

I'm confused.

[bargainbin]

Progress

https://coin.dance/nodes

So now blocks have room again?

I'm confused.

Maybe Core 0.12.0 nodes have the power to purge the mempool of evol? https://np.reddit.com/r/btc/comments/47dh6b/24_hours_of_running_results_in_40k_txns_in_the/

[madmat]

So now blocks have room again?

I'm confused.

This is not hard to understand, sometimes they are full, sometimes not. Soon, they will be full all the time.

[bargainbin]

So now blocks have room again?

I'm confused.

This is not hard to understand, sometimes they are full, sometimes not. Soon, they will be full all the time.

Yup, think of bitcoin as a piss bucket, connected to the sewer line with a plastic hose, roughly the size of an IV line. When people in the public toilet (mempool) piss in the bucket (transact), it fills up, but, simultaneously, the bucket drains itself into the sewer.
But only as fast as the IV line can pass the piss.

At roughly 3peepees, the bucket reaches equilibrium: the pee pee flows out as quickly as it flows in. The toilet attendant (miners) stands as a century by the pee bucket -- he has the power to make you wait and squirm (not include your tx).

Occasionally, the seamy bus terminal where this wholly repulsive public toilet is located gets deserted (police sweeps; also because really gross & no self-respecting human being would ever be seen there).
During those times, the bucket is empty.

And also empty when the sickfuck toilet attendant decides to teach everybody a lesson & not let anyone pee (mine empty blocks) -- because gets paid 25 BTC every 10 minutes anyhow, your paltry tips (tx fees) amount to shit.

[8up]

Just curious. Who of you is hedged in ETH?

[X] yes
[ ] no
[ ] no, but plan to

[ChartBuddy]

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[bargainbin]

Just curious. Who of you is hedged in ETH?

[X] yes
[ ] no
[ ] no, but plan to

Stop it with your ETH pumping. So what if it went up 14% in the past 24hrs, what's your point?

[Dotto]

[8up]

Just curious. Who of you is hedged in ETH?

[X] yes
[ ] no
[ ] no, but plan to

Stop it with your ETH pumping. So what if it went up 14% in the past 24hrs, what's your point?

There's no need for "pumping".






I really like the overflow analogy, because it describes best what actually happens. You can prove for yourself by simply comparing marketcaps of certain high profile coins to bitcoin.

[ChartBuddy]

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[Spaceman_Spiff]

Just curious. Who of you is hedged in ETH?

[X] yes
[ ] no
[ ] no, but plan to

So because of current scaling issues, people will go to a currency that scales even worse?  No thanks, I ll pass on the hopium.

[aztecminer]

No more theft than a landlord charging you rent. Stop it with the entitled bullish, snowflake.  You live here, we keep it nice. You pay rent or GTFO.

>what are u a govy shill ??
If you only knew, Earthling, if you only knew...

just remember who pays your shilling wages ... we get the final say if our stolen money was well spent, however much you might like to blow it on spying and manipulating the public, we will get our dues, either by courts or hang-ropes

they are in their final acts of desperation with the 'negative interest rates' is federal reserve ammo and 'cashless society' is for anti-terrorism anti-laundering .. the reason they have to steal money is because they are a cheesy bankrupt govy that has no intelligence to figure out a better way .. because they are so far in debt and bankrupt after years of "trusting in god" for the federal reserve to manipulate everything is the reason why they have to steal from All of US. i have the same attitude, if they dont like the color of the sun they can GTFO ... people should be piling into gold and silver while it is manipulated lower by a govy that has no other choice but who are running out of physical metals to keep their game going as their 'interest to infinity' debt slavery system continues to FAIL. .......and..their #abusivehightaxes are playing a major role in why the economy was unable to get out of recession after all that QE and we are slowing down again as people cant make their car payments and car repos start to soar ... we are watching their 'interest to infinity' debt slavery system implode even as their shill turds talk trash to us about how they are justify their #abusivehightaxes as rent we owe them .

[aztecminer]

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Damn! Blocks are fucking full! I've got and important tx waiting for its third confirmation for ages ><

best post of the day goes to xslugx! #GimpedCoin

[aztecminer]

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.

the battle of price between the halvening and bitcoin dont scale .... i do not see how it matters how many coins are being mined if this thing doesnt scale. if the blocks fill up as we approach halvening, we might see some bitcoin chaos.. this should be awesome .