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Question: Price Target for Nov. 30, 2024:
<$75K - 2 (2.9%)
$75K to $80K - 1 (1.4%)
$80K to $85K - 2 (2.9%)
$85K to $90K - 8 (11.6%)
$90K to $95K - 12 (17.4%)
$95K to $100K - 12 (17.4%)
>$100K - 32 (46.4%)
Total Voters: 69

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26495239 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
ZyclonRacerX
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March 09, 2016, 11:32:57 PM

adam I put that info in my edit.  A little over 8000 bytes

i think they should have paid like 0.005 in fees

this TX might just get dropped out after 48hours of sitting in the mempool.... ( i think thats how it work ? )

I believe it's 72 hrs.  How will I know when it gets dropped?

The exchange rate they used was $410.xx
What this means is that it will get dropped in another 2 1/2 days during which time btc will go up and I will get less btc.  :-  Time to buy Grin Grin  Why do I always think/feel like this Huh

On the plus side, there's no chargeback, so you're good there. Did the person you transact with use a full non-mining node Core 0.12 wallet? Because I hear that one is really good at guessing how much fees to include. Sometimes when you use LukeJr gamepack tho, it gets confused a little, so that could be it Smiley
nioc
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March 09, 2016, 11:42:56 PM

They are new to btc so I guess they are ignorant about it's best use, another problem with btc.  However they are honest and I'll get the $ owed to me.  I'll probably get the same amount of btc as they are trying to send me but yeh the kool aid Tongue  You just want me to buy more btc Grin  I thought getting paid btc from my second job was doing just that.  They aint being converted to fiat.

Edit: @NLC I have no idea what they use.  It looks like they were taught that 0.0001 was a standard fee.  

coins101
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March 09, 2016, 11:56:36 PM

I voted $390.

Looks like I'm going to be wrong.
ChartBuddy
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March 10, 2016, 12:00:34 AM

Coin



Explanation
PoolMinor
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March 10, 2016, 12:03:47 AM

ETH has no limit on the amount of coins.

Enjoy your "investment".

QED

Well that's not a bad point in itself... But what's sure is that it's really different from BTC.

Am I the only one to understand that it was not meant to be used as a currency though?

I have spoke of this before in this thread. People need to understand that the coin (bitcoin) is just a reward for securing the blockchain. The coin (bitcoin) is the "gas" to move the transactions.

Yes ETH uses fancy new terminology, but the underlying use is still the same as bitcoin.
Smoke and mirrors my friend.


Edit:
from rpietila:

Having stuff stored in the most secure ledger in the world is not free, so it should not be free. I felt bad when I sent a few BTC with a 0.001 fee. (No, not because I needed to pay €0.38 - because of the miners.)
PoolMinor
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March 10, 2016, 12:18:07 AM


i give up

you keep believing that on avg blocks are only 50-75% full

Aww there's your problem, using the wrong terminology. What you mean to say is median blocks are above the average 50-75% full. So technically if you were using proper terminology Adam, you could both be correct.

Median versus Average
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March 10, 2016, 12:48:58 AM

Im a true bitcoin believer and lately there is a lot of fud going around about BTC, why is this?

Even cryptolovers in forums are fudding, dont understand this  Angry

People are just realizing that mostly everyone working on bitcoin code right now are mentally handicapped.
ZyclonRacerX
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March 10, 2016, 12:50:34 AM

Im a true bitcoin believer and lately there is a lot of fud going around about BTC, why is this?

Even cryptolovers in forums are fudding, dont understand this  Angry

I think people are a little upset about Ether blocking our shine. Up 20% today. Just doesn't seem fair...
conspirosphere.tk
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March 10, 2016, 12:56:28 AM

Im a true bitcoin believer and lately there is a lot of fud going around about BTC, why is this?

Even cryptolovers in forums are fudding, dont understand this  Angry

maybe to facilitate their loading up before the halvening?
when the FUD is strong, the wise nerd buy & hodl.
JayJuanGee
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March 10, 2016, 12:58:32 AM


There's no need to make fun of me.  

I am grappling with similar kinds of information as you (the charts on blockchain.info are good), and frequently, I request that if there is other information available, then that information should be provided. If you have some constructive criticism or better information than the charts on blockchain.info, then please provide it.


Sorry for making fun of you (I couldn't resist). But average block size isn't a good metric. Empty blocks (and also soft limits) skew the result a lot, that's the reason why ChartBuddy takes that into account. Also, like in the rush hour, there are particular time windows that traffic spills over, e.g. when only 3 or 4 blocks in an hour are found. So there are isolated periods of delays, and the required fees go up and down with it. On top of that, not all wallets have good fee prediction algorithms (and some don't at all -- I think blockchain.info still uses a flat fee).

All this explains there are some users who have bad experiences, while other don't have any. If I send txs, I use my Mycelium wallet, which works like a breeze. Like you, I never have serious delays. I do sometimes pay high fees, though. My record fee has been 128 sat/B (0.000621 BTC in total) on 21 January.

But that doesn't mean that there's no capacity problem developing. Nor that there are no bad user experiences because of it. And those damage the reputation of Bitcoin. New users have to know too much of the workings of Bitcoin to protect themselves from having a bad experience. About transaction sizes, rate per byte, double checking cointape.com . It's damaging.

Saying "there's no problem (yet) -- so no need to worry" just doesn't cut it. We saw it coming for a year already, it's happening now, and it will get worse.




I believe that this particular response to me is cogent and reasonable; however, I really have concerns about placing too much weight in Chartbuddy.  I understand that Richie_T provided various explanations, but there is no meaningful explanation in the chartbuddy "explanation" link, and really, we should have some third party source like Blockchain.info that provides more specifics to be able to hone in and to get better detailed information. 

Otherwise, I remain quite unconvinced about a large amount of anectdotal whining and screaming and even admitted exaggerations that seem to be more emotional rather than factual.

Based on the evidence that I have seen to date, I remain convinced that the fulblocalypse emergency is more exaggerated than it is actual, and I am of the belief that measures, analysis and considerations currently underway, including seg wit and potential considerations regarding further changes that may be considered after the implementation of seg wit are sufficiently adequate under the current conditions and timeline. 

Yes people are hysterical and emotional and vocal and attempting to bring the price down to bring attention to their concerns, but that kind of emotional and "consumer" behavior just seems to be inadequate in proving any kind of factual point that we got some kind of emergency on our hands at the present moment, and even several months into the future.

show me some actual data that is more convincing than the main two charts on blockchain.info, and I will incorporate that data into my consideration and/or reconsideration of the matter.

Again.. for ease of reference, here are the two main charts that I find factually material to the at-hand issue .


Average blocksize
https://blockchain.info/charts/avg-block-size?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

Median confirmation time with fees.
https://blockchain.info/charts/median-confirmation-time?timespan=1year&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address=

By the way, within each of the two charts, I selected to look at the matter over the past year, but what is nice about the info contained in those charts is that you can click on various timelines in order to see the ups and downs of these average numbers in order to zoom in and to zoom out.  If blockchain.info could come up some better charts, then that would be great too, because they seem to be a pretty credible source in this space concerning various things going on in respect to the bitcoin blockchain.


ChartBuddy
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March 10, 2016, 01:00:31 AM

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Explanation
JayJuanGee
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March 10, 2016, 01:05:33 AM

I voted $390.

Looks like I'm going to be wrong.


Anything could happen in 3 days.. no? 

I am more inclined for up or maybe around the current price, but I still think that you have up to about a 20 to 30% chance of being right?

$390 is surely within striking distance.
adamstgBit
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March 10, 2016, 01:18:26 AM


i give up

you keep believing that on avg blocks are only 50-75% full

Aww there's your problem, using the wrong terminology. What you mean to say is median blocks are above the average 50-75% full. So technically if you were using proper terminology Adam, you could both be correct.

Median versus Average

i mean typically blocks are full there are some special cases where blocks aren't but this has nothing to do with lack of TX to include.

nioc has been waiting 12 hours now...
it's likely his 8000byte tx will never confirm
dont try to use your fancy statistics to prove somthing that is so obviously false.

Median versus Average what is this sorcery?   Cheesy yes yes i know the diff between Median and Average -_-
UngratefulTony
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March 10, 2016, 01:31:43 AM

1. Your transactions are spam.

2. The network is meant for high fee settlement transactions.

3. Just use a higher fee than the others trying to use this revolutionary, competition-less, 4 Chinese dude controlled, censhoreship proof network.

4. Investors only care about today, not tomorrow, nor tomorrow's potential.

4.5. Just sit back and get rich, stop complaining. Mewn.  Cool



adamstgBit
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March 10, 2016, 01:36:30 AM

if we all shop at bigasscomputer.com we can scale bitcoin to the moon ┗(°0°)┛
adamstgBit
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March 10, 2016, 01:42:09 AM

Core  Node   Vs  Classic Node


Vs.
ZyclonRacerX
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March 10, 2016, 01:42:24 AM

...
Median versus Average what is this sorcery?   Cheesy yes yes i know the diff between Median and Average -_-
And you know what else?
ETH $11.99 (22.78%) Shocked It's as if the Heavens themselves have conspired against us!
Either that, or filthy Gypsy witchcraft!
AlexGR
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March 10, 2016, 01:51:54 AM

Core  Node   Vs  Classic Node

More like this =>

Core node


Classic node



Quote
https://www.reddit.com/r/Bitcoin/comments/490dyi/serious_question_if_raising_the_max_block_size/d0o35r1
...

...out of the 235,000 transactions only 90,000 are actual regular transactions. 61% of the transactions currently being mined are long chain spam transactions. So less than half of what is included in all those 1MB blocks is useless junk....
nioc
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March 10, 2016, 01:56:02 AM


i give up

you keep believing that on avg blocks are only 50-75% full

Aww there's your problem, using the wrong terminology. What you mean to say is median blocks are above the average 50-75% full. So technically if you were using proper terminology Adam, you could both be correct.

Median versus Average

i mean typically blocks are full there are some special cases where blocks aren't but this has nothing to do with lack of TX to include.

nioc has been waiting 12 hours now...
it's likely his 8000byte tx will never confirm
dont try to use your fancy statistics to prove somthing that is so obviously false.

Median versus Average what is this sorcery?   Cheesy yes yes i know the diff between Median and Average -_-

4 confirmations!!!!!!  WEEEEEEEEEEEEE

Thank you BitClub Network whoever you are Kiss
AliceGored
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March 10, 2016, 01:59:54 AM

Core  Node   Vs  Classic Node

More like this =>

Core node


Classic node



Quote
https://www.reddit.com/r/Bitcoin/comments/490dyi/serious_question_if_raising_the_max_block_size/d0o35r1
...

...out of the 235,000 transactions only 90,000 are actual regular transactions. 61% of the transactions currently being mined are long chain spam transactions. So less than half of what is included in all those 1MB blocks is useless junk....


1. Your transactions are spam. Garbage

2. The network is meant for high fee settlement transactions.

3. Just use a higher fee than the others trying to use this revolutionary, competition-less, 4 Chinese dude controlled, censhoreship proof network.

4. Investors only care about today, not tomorrow, nor tomorrow's potential.

4.5. Just sit back and get rich, stop complaining. Mewn.  Cool


People will beat down doors to use our expensive system... because reasons. You can't beat the decentralization of Antpool, Fish Pond, BitRage, and BTCCCP.
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