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

[ChartBuddy]

Coin



Explanation

[AliceGored]

Due to economy of scale and some miners having lower verification costs, it creates a race to the bottom of purging all but the most efficient miner (centralization).  With increasing block sizes, there would likely be some huge miner that accepts 0.00000001 fee transactions while doing so would cause others to go bankrupt.  Or the mega miner could just accept tiny or 0 fee transactions in the short term in order to bankrupt opponents.  Hence a minimum transaction fee puts a floor on how low of a race to the bottom tactic you can enact.  

Minimum transaction fee is the spam prevention mechanism of Bitcoin, not block size!  The miners are unable to create one themselves because it would require collusion and it's also an attack vector they use against each other!  That is why I say developers have to create a minimum transaction fee for each block size interval they set in order to scale Bitcoin.

Oh wise central planners. Please pick the best arbitrary economic variables possible... and only with unanimous neckbeard consensus in irc. These miners are hell bent on choking out this golden goose given the chance.

You keep looking but you can't find the woods
While you're hiding in the trees

Except you don't understand it's impossible for Bitcoin to not have central bankers unless it has an unlimited block size and no min transaction fee.  Now that we've established Bitcoin already has central bankers (the developers with the miners having a veto override), they should actually use the correct variable in order to block spam (min transaction fee) instead of using the wrong one (block size).

That's like saying it's not possible to have a McLaren F1 without the Ameritech front bumperettes and a 1.8L. It is, and it's worth insisting on.

[r0ach]

Due to economy of scale and some miners having lower verification costs, it creates a race to the bottom of purging all but the most efficient miner (centralization).  With increasing block sizes, there would likely be some huge miner that accepts 0.00000001 fee transactions while doing so would cause others to go bankrupt.  Or the mega miner could just accept tiny or 0 fee transactions in the short term in order to bankrupt opponents.  Hence a minimum transaction fee puts a floor on how low of a race to the bottom tactic you can enact.  

Minimum transaction fee is the spam prevention mechanism of Bitcoin, not block size!  The miners are unable to create one themselves because it would require collusion and it's also an attack vector they use against each other!  That is why I say developers have to create a minimum transaction fee for each block size interval they set in order to scale Bitcoin.

Oh wise central planners. Please pick the best arbitrary economic variables possible... and only with unanimous neckbeard consensus in irc. These miners are hell bent on choking out this golden goose given the chance.

You keep looking but you can't find the woods
While you're hiding in the trees

Except you don't understand it's impossible for Bitcoin to not have central bankers unless it has an unlimited block size and no min transaction fee.  Now that we've established Bitcoin already has central bankers (the developers with the miners having a veto override), they should actually use the correct variable in order to block spam (min transaction fee) instead of using the wrong one (block size).

That's like saying it's not possible to have a McLaren F1 without the Ameritech front bumperettes and a 1.8L. It is, and it's worth insisting on.

Nonsensical response.

[AliceGored]

That's like saying it's not possible to have a McLaren F1 without the Ameritech front bumperettes and a 1.8L. It is, and it's worth insisting on.

Nonsensical response.

For someone who sees international jewry as the malevolent force behind all their personal socioeconomic shortcomings, you sure suffer from an occasional lack of imagination.

[ChartBuddy]

Coin



Explanation

[Elwar]

Any word on that ETF those Twinkletossers were going to set up?

They last updated it in January 2015. Most people said that it usually takes a year from the last update so I figured it would have gone through.

Maybe they shifted focus to Gemini and aren't pushing the political buttons needed to get it through.

[Fatman3001]

@Fats How's that sound to you?

If I want to read nazis I stick with Hamsun and Heidegger.

[r0ach]

That's like saying it's not possible to have a McLaren F1 without the Ameritech front bumperettes and a 1.8L. It is, and it's worth insisting on.

Nonsensical response.

For someone who sees international jewry as the malevolent force behind all their personal socioeconomic shortcomings, you sure suffer from an occasional lack of imagination.

They're an ethnocentric, racial supremacist cult that inserts themselves into positions of power using extreme nepotism, causing the native inhabitants of whatever country they invade to have their wealth siphoned off and their media inundated with propaganda to help their self serving and/or Marxist agenda.  Anyone that claims otherwise is a bullshit artist.

[ChartBuddy]

Coin



Explanation

[Karartma1]

Any word on that ETF those Twinkletossers were going to set up?

They last updated it in January 2015. Most people said that it usually takes a year from the last update so I figured it would have gone through.

Maybe they shifted focus to Gemini and aren't pushing the political buttons needed to get it through.

Or, maybe, since Gemini is still not as big as they thought it could be they are buying time. In either case, I don't see an etf could work right now. too much debate is going on.

[ChartBuddy]

Coin



Explanation

[ChartBuddy]

Coin



Explanation

[European Central Bank]

Any word on that ETF those Twinkletossers were going to set up?

They last updated it in January 2015. Most people said that it usually takes a year from the last update so I figured it would have gone through.

Maybe they shifted focus to Gemini and aren't pushing the political buttons needed to get it through.

I thought they had to create Gemini mainly for the etf application. No way was it gona impress the sec with the shitty exchanges that were around at the time.

[ImI]

Any word on that ETF those Twinkletossers were going to set up?

i think its dead.

[Elwar]

    "Help" help@sec.gov help@sec.gov
    febr. 22.

    címzett: saját magam
    angol
    magyar Üzenet lefordítása
    Kikapcsolás a következő nyelvhez: angol
    HO::~00556069~::HO

    Dear Mr. Fiscor:

    Thank you for contacting the U.S. Securities and Exchange Commission (SEC).

    While we appreciate your inquiry regarding Winklevoss ETF (COIN), please be advised that the SEC conducts its investigations and reviews on a confidential and nonpublic basis and therefore cannot provide you with an update regarding this investment at this time. However, we suggest you periodically check our website at www.sec.gov for any press releases or other public update published on this matter. Additionally, please note that you may access public filings for Winklevoss Bitcoin Trust (CIK#: 0001579346) on our EDGAR database located at http://www.sec.gov/edgar/searchedgar/companysearch.html.

    For an overview of the securities offering registration process, please visit our website at https://www.sec.gov/info/smallbus/qasbsec.htm#ipo

    Please contact me should you have any questions.

    Sincerely,

    Catherine Brooks
    Attorney
    Office of Investor Education and Advocacy
    U.S. Securities and Exchange Commission
    (800) 732-0330
    www.sec.gov
    www.investor.gov
    www.twitter.com/SEC_Investor_Ed

    File Attachment:
    Correspondent Name: Adam Fiscor
    Create Date: 2016-01-12 14:20:53
    Origin: Email
    File #: HO::~00556069~::HO
    Description:
    From: Adam Ficsor [mailto:adam.ficsor73@gmail.com] Sent: Tuesday, January 12, 2016 7:37 AM To: Rule-Comments Subject: Bitcoin ETF Hi guys, when will the Winklevoss ETF (COIN) approval decision be made? In a few months, a year, 5 years, 10 years? -- Best, Ádám ref:_00D30JxQy._500a012gCPXAA2:ref

[ChartBuddy]

Coin



Explanation

[valta4065]

Coin



Explanation

Decision point reached? Up?

After few days of stable price the up is going back?

[LFC_Bitcoin]

Any word on that ETF those Twinkletossers were going to set up?

No idea but it's been a pretty long time & I haven't seen any progress in the news etc.

Maybe it's dead before it was even born?

[Elwar]

Coin



Explanation

Decision point reached? Up?

After few days of stable price the up is going back?

It will gravitate to $420 whether it is up or down for another month or so I'd guess.

[ChartBuddy]

Coin



Explanation