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

[BitconAssociation]

...
Hmm... From what I know scaling bitcoin on the number of visa tx for example would need blocks of 80GB.
If you do it simply by rising block size.

I'll never be as smart as Einstein, so why bother going to school (or as Patient_Bear says, nirvana fallacy)...

Can someone explain why people are complaining about the ability to send any amount of money anywhere in the world in about an hour without having to ask a middleman for permission?

Because it used to be about ten minutes a few days ago, and going to be fucking impossible soon if this shit keeps up. Also middlemen. You'll need those too

Gonna have to explain that one a bit clearer.

Because transactions *did not* take "about an hour" a few weeks ago.
Because if you wish to use Bitcoin in the future, you will need to use "scaling solutions" like Lightning Network, which is basically*prepaid gift card, for every entity you wish to do business with, which uses Bitcoin as a settlement layer* (i think they call it "open a payment channel").
Would be glad to be more explicit, just ask specific questions.

But that's the techy side of it. The meat of it is that people are catching on to the fact that Bitcoin, like just about everything else, DEPENDS ON OUR TRUST IN PEOPLE. People at the top, people who are ambitious, egomanaical, corruptible. People who, without a clearly defined set of rules (laws) and an enforcement framework (jackbooted thugs) turn into spoiled children and can't be trusted.
People who would for stroking/paltry sums, will sell you out to the highest bidder.
Because rational self-interest.

What do you mean by a transaction? It's still instant, and confirms are as they always have been for me.

Let me freshen your memory.

Can someone explain why people are complaining about the ability to send any amount of money anywhere in the world in about an hour without having to ask a middleman for permission?

Your transactions always took "about an hour," or, as you put it, "still instant."
Guess our differences are rooted in semantics. To you, "instant" = "about an hour."
And while "instant" used to mean "about 10 minutes," instant = instant, so nothing has changed.

[ahpku]

Monero (+12%), Ethereum (+21%) and maidsafe consistently eating the cap cake.

Seem something could be changing in the ecosystem, stay tuned, biches

Lightning Network

[mainpmf]

Monero (+12%), Ethereum (+21%) and maidsafe consistently eating the cap cake.

Seem something could be changing in the ecosystem, stay tuned, biches

Yep. What's changing is that btc might not stay the king...

[BlindMayorBitcorn]

Monero (+12%), Ethereum (+21%) and maidsafe consistently eating the cap cake.

Seem something could be changing in the ecosystem, stay tuned, biches

Yep. What's changing is that btc might not stay the king...

Core developers have been clear about this. We can't handle all these transactions. Because maths. We have to learn to share now.

[BitconAssociation]

Monero (+12%), Ethereum (+21%) and maidsafe consistently eating the cap cake.

Seem something could be changing in the ecosystem, stay tuned, biches

Yep. What's changing is that btc might not stay the king...

Core developers have been clear about this. We can't handle all these transactions. Because maths. We have to learn to share now.

>Libertarians
>learn to share
badatsss!

[Mervyn_Pumpkinhead]

[jbreher]

And somehow BTC's 0.01-0.05$ (depending priority) fees are a problem? For real?

No. We've told you over and over and over that the issue is not the nickel per transaction, but rather that the issue is the hard limit of several thousand transactions per day.

Why you are so dense as to not yet have heard this beggars belief.

[BitconAssociation]

https://www.reddit.com/r/Bitcoin/comments/48p1bk/somebody_sent_a_transaction_with_a_15btc_fee/
People are finally starting to show miners some love.

[gentlemand]

No. We've told you over and over and over that the issue is not the nickel per transaction, but rather that the issue is the hard limit of several thousand transactions per day.

Why you are so dense as to not yet have heard this beggars belief.

Why waste your electricity engaging? You'll receive the same responses every single time. A couple of hundred thousand special transactions is way more important than millions of crappy ones. Let them eat cryptocake and wait for the mythical solutions.

[Fatman3001]

eth down 10% in 2 minutes and still falling.

Stick with your legacy banking system. Crypto doesn't want you.

Edit: 15% in 3 minutes. Magnificent crash!

[jbreher]

That is not how fee markets work , there are upper limits to how much spammers andsome users will spend on fees.

FTFY. Especially given the recently published definition of spam as 'transaction accompanied by fee lower than typically included in recent blocks'.

[xslugx]

eth down 10% in 2 minutes and still falling.

Stick with your legacy banking system. Crypto doesn't want you.

Edit: 15% in 3 minutes. Magnificent crash!

Seriously? Damn i'm happy, I was nearly tempted to get in the train!

[jbreher]

What do you mean by a transaction? It's still instant, and confirms are as they always have been for me.

Well, no. In today's environment, given what you are using for 'transaction', your transaction might still be instant, except it now has the very distinct possibility of being rolled back in 72 hours.

[Fatman3001]

That is not how fee markets work , there are upper limits to how much spammers andsome users will spend on fees.

FTFY. Especially given the recently published definition of spam as 'transaction accompanied by fee lower than typically included in recent blocks'.

That's a nice definition. It reminds me of an article in The Economist some 20 years ago where they showed how the soviet apparatchiks used definitions to make their data say what they wanted it to say.

No users are affected, some are just redefined as spammers.

[Fatman3001]

eth down 10% in 2 minutes and still falling.

Stick with your legacy banking system. Crypto doesn't want you.

Edit: 15% in 3 minutes. Magnificent crash!

Seriously? Damn i'm happy, I was nearly tempted to get in the train!

Make that 20% in 4 min.

[BitconAssociation]

eth down 10% in 2 minutes and still falling.

Stick with your legacy banking system. Crypto doesn't want you.

Edit: 15% in 3 minutes. Magnificent crash!

Seriously? Damn i'm happy, I was nearly tempted to get in the train!

Make that 20% in 4 min.

To be fair, still up 2.5%.
Bitcoin?

[jbreher]

No. We've told you over and over and over that the issue is not the nickel per transaction, but rather that the issue is the hard limit of several thousand transactions per day.

Why you are so dense as to not yet have heard this beggars belief.

Why waste your electricity engaging? You'll receive the same responses every single time. A couple of hundred thousand special transactions is way more important than millions of crappy ones. Let them eat cryptocake and wait for the mythical solutions.

::le sigh::

Why? Because if Bitcoin dies, the crypto revolution is set back a decade. A fundamental precept of the crypto promise is the (eventual) non-inflationary measure. It's the most important part of the promise. If Bitcoin loses the property of being The One True Crypto Money, it is just one other in a sea of competing currencies. A sea of competing currencies, with new ones created at will, can not ever be non-inflationary. And mankind loses its only chance to cast off the yoke of the Vampire Squid.

Plus, I really don't want to divest into alts.

[BlindMayorBitcorn]

eth down 10% in 2 minutes and still falling.

Stick with your legacy banking system. Crypto doesn't want you.

Edit: 15% in 3 minutes. Magnificent crash!

Seriously? Damn i'm happy, I was nearly tempted to get in the train!

Make that 20% in 4 min.

Edit: Coinmarketcap shows it at 9 bucks. What charts do you have?

[xslugx]

eth down 10% in 2 minutes and still falling.

Stick with your legacy banking system. Crypto doesn't want you.

Edit: 15% in 3 minutes. Magnificent crash!

Seriously? Damn i'm happy, I was nearly tempted to get in the train!

Make that 20% in 4 min.

Edit: Coinmarketcap shows it at 9 bucks. What charts do you have?

Same, I can't find charts correlated your statement.

Though it's an excellent news if that's true.

[Fatman3001]

eth down 10% in 2 minutes and still falling.

Stick with your legacy banking system. Crypto doesn't want you.

Edit: 15% in 3 minutes. Magnificent crash!

Seriously? Damn i'm happy, I was nearly tempted to get in the train!

Make that 20% in 4 min.

Edit: Coinmarketcap shows it at 9 bucks. What charts do you have?

Just check poloniex. It's up a bit now. Buyers Beware.