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

[JimboToronto]

Used to spend a lot of my childhood summer going from London to Toronto and watching the Jay's play. Best hot dogs there.

I like the guy with the cart outside Gate 14. His dogs and sausages are never dried out and he's the only one with sauted onions (lightly seasoned with nutmeg) and he always has sliced olives. A big fat Polish sausage with the usual toppings and lots of onions and olives is a real meal, and at half the cost of a basic dog inside.

My only beef is the silly weapons check at the gate. Seems the commissioner is following the guidelines of the Department of Homeland Security. Whose homeland? Not mine. Makes you wonder exactly how many stabbings and shootings we've had over the years at the SkyDome. Gee, the answer is zero? Imagine that.
______

Edit: While I was typing that I see that a few bids have started to pile up on Finex. Re-edit: and pulled like that.

[Fatman3001]

2.7 MB blocks on the segwit testnet!

https://segnet.smartbit.com.au/blocks?sort=size

PLEASE DECREASE THE BLOCK LIMIT TO 0.5 MB TO AVOID A FEE DROP!!

DEGREASING INITIATED

[Gyrsur]

^*head
*

4 MB blocks!

[Fatman3001]

^*head
* http://i1113.photobucket.com/albums/k520/s13drifter88/SR20Block.jpg

Fudgepop! This block thingy is harder than I thought!

[TooDumbForBitcoin]

Bitcoin market cap: $ 6,606,589,066

6 666 666 666

Soon...

You can do it, bovines! The Dark One is on your side...

Two thirds of your posts are repetitive, inaccurate crap.

[beastmodeBiscuitGravy]

How is segwit like a Rover V8?

4 Liters of displacement for the power output of a 1.7L.

Where are we at on Marcus' countdown?

3

[WeltMaster]

[podyx]

Good long opportunity here?

[UngratefulTony]

Good long opportunity here?

Need someone to hold your beer?

[beastmodeBiscuitGravy]

It was acceptable when it was Buick back in the 60's. Land rover sold that thing in the 21st century.

Kinda like how 3tps was acceptable in 2011.

[cannabanana]

Good long opportunity here?

[BayAreaCoins]

Short closed.

Good ride up and then down for a few stacks profit.

GG till next time  

[Gyrsur]

Short closed.

Good ride up and then down for a few stacks profit.

GG till next time  

genius!

[nioc]

I was told that despite the title of this thread it also serves as the block observer thread.

For whatever reason it currently looks like a full block day.

Let's see if my transaction that I just sent which included a fee high enough too be rated "high priority" will be included in the next block.  Yes I actually have a use for btc and use it on a regular basis.

While I was typing this, a new block was found the size of which was 0.9982 MB  and I am happy to report that my "high priority" transaction, fee of 0.000113, was included in that block

[Gyrsur]

I was told that despite the title of this thread it also serves as the block observer thread.

For whatever reason it currently looks like a full block day.

Let's see if my transaction that I just sent which included a fee high enough too be rated "high priority" will be included in the next block.  Yes I actually have a use for btc and use it on a regular basis.

While I was typing this, a new block was found the size of which was 0.9982 MB  and I am happy to report that my "high priority" transaction, fee of 0.000113, was included in that block

https://blockchain.info/de/charts/avg-block-size

[XCASH]

I was told that despite the title of this thread it also serves as the block observer thread.

...

It's mostly a troll movement tracking & discussion thread sprinkled with a bit of blurb about segwit every now and again. We track and discuss lambie's latest socks. Adam should change the title to the lambie sock movement tracking & discussion thread.

[billyjoeallen]

Does somebody know ehat is causing this price movement?

I don't know, but it's got everyone posting here again. I though this thread was dead after weeks of nothing but sparse NLC sock posts. A ten dollar pump later and all the old timers are back posting here again. This latest pump is unusually slow and steady compared to the usual sharp violent ones. Perhaps it's more sustainable because of it.

It's only sustainable if price can raise at a rate slower than average blocksize. I don't see how that's possible because a belief in rising xaction fees has the effect of pushing demand forward or in other words causing people to transact now rather than later which causes the blocks to grow. A self-fulfilling prophecy. 

So either you think a fee market will emerge, in which case you contribute to the capacity problem or you think it won't, in which case you hold off and allow the market to think demand for blockspace is lower than it is,  which creates less incentive to fix the capacity problem. How are you gonna take advantage of a non-jammed network without contributing to the jam? 

The capacity problem will not be fixed if it is not seen as a problem and it won't be seen as a problem if the exchange price is high. Miners will continue to profit selling a shitty inferior product because you assholes keep buying it. I can't blame them. You can't buy as much blockspace as you used to for the same amount of coin. You can't xfer it as fast for the same fee. It can be censored by the PRC.  One Bitcoin is a smaller amount of total market cap than it used to be.  Even if it's undervalued, it's not nearly as undervalued as it was at $350, so why the hell are you buying now? Got a tax refund burning a hole in your pocket?

[r0ach]

It's only sustainable if price can raise at a rate slower than average blocksize. I don't see how that's possible because a belief in rising xaction fees has the effect of pushing demand forward or in other words causing people to transact now rather than later which causes the blocks to grow. A self-fulfilling prophecy. 

So either you think a fee market will emerge, in which case you contribute to the capacity problem or you think it won't, in which case you hold off and allow the market to think demand for blockspace is lower than it is,  which creates less incentive to fix the capacity problem. How are you gonna take advantage of a non-jammed network without contributing to the jam? 

The capacity problem will not be fixed if it is not seen as a problem and it won't be seen as a problem if the exchange price is high. Miners will continue to profit selling a shitty inferior product because you assholes keep buying it. I can't blame them. You can't buy as much blockspace as you used to for the same amount of coin. You can't xfer it as fast for the same fee. It can be censored by the PRC.  One Bitcoin is a smaller amount of total market cap than it used to be.  Even if it's undervalued, it's not nearly as undervalued as it was at $350, so why the hell are you buying now? Got a tax refund burning a hole in your pocket?

And anytime BillyJoeAllen posts about a supposed "block size armageddon", all you need to do is post this as reply:

It doesn't matter what % of blocks are full you stupid fucks.  All that matters is what the average transaction fee is.  Since there is no minimum transaction fee, the blocks are basically designed to be full at all times eventually even if you set it to 100MB blocks.  Segwit + hard fork in 2017 = 3.2MB blocks.  Then schnorr multisig on top of that should lower transaction sizes and increase TPS further.

[billyjoeallen]

It's only sustainable if price can raise at a rate slower than average blocksize. I don't see how that's possible because a belief in rising xaction fees has the effect of pushing demand forward or in other words causing people to transact now rather than later which causes the blocks to grow. A self-fulfilling prophecy. 

So either you think a fee market will emerge, in which case you contribute to the capacity problem or you think it won't, in which case you hold off and allow the market to think demand for blockspace is lower than it is,  which creates less incentive to fix the capacity problem. How are you gonna take advantage of a non-jammed network without contributing to the jam? 

The capacity problem will not be fixed if it is not seen as a problem and it won't be seen as a problem if the exchange price is high. Miners will continue to profit selling a shitty inferior product because you assholes keep buying it. I can't blame them. You can't buy as much blockspace as you used to for the same amount of coin. You can't xfer it as fast for the same fee. It can be censored by the PRC.  One Bitcoin is a smaller amount of total market cap than it used to be.  Even if it's undervalued, it's not nearly as undervalued as it was at $350, so why the hell are you buying now? Got a tax refund burning a hole in your pocket?

And anytime BillyJoeAllen posts about a supposed "block size armageddon", all you need to do is post this as reply:

It doesn't matter what % of blocks are full you stupid fucks.  All that matters is what the average transaction fee is.  Since there is no minimum transaction fee, the blocks are basically designed to be full at all times eventually even if you set it to 100MB blocks.  Segwit + hard fork in 2017 = 3.2MB blocks.  Then schnorr multisig on top of that should lower transaction sizes and increase TPS further.

If blocks were designed to be full, then how come they weren't full until recently despite effectively zero fees?  cripplecoiners never answer that.

[kodtycoon]

are the blocks full because of spam tx's or genuine ones? like is someone artificially filling blocks atm or is it natural?