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

[bargainbin]

Launch window opening in a couple of days for Bitcoin Earth to Mars minimum energy transit and escape from the $500 sphere of gravity.

All lights continue to be green.

Play quietly, Sweetie, Mommy's reading her stories...

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[ChartBuddy]

Coin



Explanation

[BlindMayorBitcorn]

But seriously, eli5 it to me now. How will decentralization be altered in a meaningful way if the number of nodes go down from 6000 to 2000 (I don't think it would, but I'm curious nonetheless)?

What is often overlooked is the fact that number of nodes is irrelevant if all nodes are run by the same parties, this is why it's crucial that the nodes can be run on people's personal computers at home, at their offices, and so on. "Specialization" of nodes, would kill Bitcoin as we know it (as a decentralized currency), this is why there is a clear agenda by some people to raise the block size and make Bitcoin nodes end up as centralized as mining is right now.

?

[bargainbin]

^^Copy-pasting bits of your self-moderated thread with a question mark tacked on the end? Not even trolling, just spam. Might as well paste lorem ipsum.

Not interesting, adds nothing, minimal "meaning and lel through repetition" (the guy with Northern Exposure moose does it well, you do not).
If you are seriously struggling to understand how Bitcoin works, ask complete, direct questions. Make sure they're your own.
This is merely a suggestion

[hdbuck]

^such insight govy.

You dont like it when your decerebrated croonies finally sees the light and wonder about blocksize inflation leading the nodes into centralized large datacenters. But who cares right? You Classic fuckwits already run most of your nodes using AWS free trials

[ChartBuddy]

Coin



Explanation

[bankingbtc]

why the price is not moving at all, we surely need some price increases if we want to attract more people to the bitcoin, also the stable price is very boring i must admit, i cant make too much money out of trading bitcoin

[Fatman3001]

Lambie, you’re becoming a bully like iCEBREAKER

Now you're being unfair. Lambie has always been an asshole. iCEBREAKER is the pretender. And not a very good one.

But seriously, eli5 it to me now. How will decentralization be altered in a meaningful way if the number of nodes go down from 6000 to 2000 (I don't think it would, but I'm curious nonetheless)?

What is often overlooked is the fact that number of nodes is irrelevant if all nodes are run by the same parties, this is why it's crucial that the nodes can be run on people's personal computers at home, at their offices, and so on. "Specialization" of nodes, would kill Bitcoin as we know it (as a decentralized currency), this is why there is a clear agenda by some people to raise the block size and make Bitcoin nodes end up as centralized as mining is right now.

?

That's not an answer, that's a paranoid delusion.



Again with the agendas.

Even if this weird conspiracy were to play out there are still people out there, real people like you and me, with ultra high speed connections. And I can buy 20 professional grade used servers with sas drives and xeon processors for $300 a piece on our national equivalent to ebay. I'm guessing ebay has something similar. So all we need to protect ourselves from this cataclysmic event is to have some slightly above average dedicated Bitcoin nutters. A quick look at the WO thread tells me we're safe for now.

And again, who are these "people" with "a clear agenda"? I want names. If the agenda really is "clear" it should be easy to attach it to some identifiable entities. And if this agenda is so bloody clear, I want it explained in detail.

[BayAreaCoins]

why the price is not moving at all, we surely need some price increases if we want to attract more people to the bitcoin, also the stable price is very boring i must admit, i cant make too much money out of trading bitcoin

Use more leverage if you're bored and prepare to shit yourself on 50 cent swings.

[adamstgBit]

why the price is not moving at all, we surely need some price increases if we want to attract more people to the bitcoin, also the stable price is very boring i must admit, i cant make too much money out of trading bitcoin

don't worry the "stable price" we've been seeing for past 48hours (420-425) is almost over, it's decision time.

>70% chance it resolves down IMO

[hdbuck]

https://medium.com/@LeoAW/what-makes-bitcoin-secure-and-how-transaction-fees-keep-it-secure-86c36ec58cf#.sgvi4guoz

Conclusion

In conclusion, even with efficiency improvements like Segregated Witnesses, and alternative payment channels like Lightning, it will not be possible to scale Bitcoin to a value far above that of today without compromising its security. Significant blocksize increases might relieve fee pressure, but might carry with them other security or centralization issues not discussed here.

Lots of "if's" there. When every number in a calculation is an unknown...

Yes, its much better to "trust" gavin or hearn or the toomins 20mb doubling > 8mb > 4mb > 2mb flexcap fork It nao... The data is real there.

[adamstgBit]

@ Core,  Classic and Chinese miners

https://www.youtube.com/watch?v=SdeWd4p0GiI

SOMEONE DO SOMETHING!

[Fatman3001]

https://medium.com/@LeoAW/what-makes-bitcoin-secure-and-how-transaction-fees-keep-it-secure-86c36ec58cf#.sgvi4guoz

Conclusion

In conclusion, even with efficiency improvements like Segregated Witnesses, and alternative payment channels like Lightning, it will not be possible to scale Bitcoin to a value far above that of today without compromising its security. Significant blocksize increases might relieve fee pressure, but might carry with them other security or centralization issues not discussed here.

Lots of "if's" there. When every number in a calculation is an unknown...

Yes, its much better to "trust" gavin or hearn or the toomins 20mb doubling > 8mb > 4mb > 2mb flexcap fork It nao... The data is real there.

Glad we agree.

[noobtrader]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

[gentlemand]

That's why they're all in China where electricity is made from burning the bones of political enemies or powering themselves off volcanoes surely? Anyone with that electricity price has given up before they even got started.

[adamstgBit]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

bullshit.

really?

[lister storm]

i think i should buy some bitcoins right now, i see that the price has a lot of potential of growing so i have a possibility to make some decent money in my opinion

[Tzupy]

...
don't worry the "stable price" we've been seeing for past 48hours (420-425) is almost over, it's decision time.

>70% chance it resolves down IMO

Actually I expect a little pump first, fail to break resistance and then down. And the evolution of the bid sum on Chinese exchanges favors a pump.
I might shit myself if the pump does break resistance though...

[Fatman3001]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

:

bullshit.

really?

Mining is at an unsustainable level atm. Next diff adjustment is probably going to be flat or in negative territory: http://bitcoincharts.com/

So unless the BTC price goes up soon we're going to see average block times go up until some months after the halving.

Sure good we have a good margin on those blocks.

WEEEEEEEE!!!!!!

[noobtrader]

i just realize this :

 cost mining of 1 btc per month at current difficulty (for 12 c per kwh) is around 560 usd  for latest miner.  

bullshit.

really?

from
https://alloscomp.com/bitcoin/calculator

i get that 1 btc per month need 11 T, this 11 T i assume need 6.5 Kwh

then using
http://www.rapidtables.com/calc/electric/electricity-calculator.htm

i calculate how much usd per month for those 6.5 kwh