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

[marcus_of_augustus]

[adamstgBit]

[BlindMayorBitcorn]

who made thee
   Dost thou know who made thee,
Gave thee life, and bid thee feed

[Agaguk24]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

[adamstgBit]

i think if bitcoin price is stable bitcoiners might become more productive and start making more money, so thats why price simply cannot remain stable for long.

[BlindMayorBitcorn]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

There is no block size issue. Nothing is broken.

*Ducks*

Later dudes.

[adamstgBit]

Any idea when will the block size issue be fixed?

short answer, probably never
shorter answer, soon.

long answer,

There is no block size issue. Nothing is broken. there is a TX limit that is self imposed by the network because of the theoretical TX limit , which, if reached node centralization will occur ( altho there is a group of poeple that beleive node centralization was always part of the plan) , this limit is based on the internet speeds/bandwidth incurred by nodes.

this limit is meaningless for "private off-chain bitcoin TX" ( aka Lighting Network ), the current Lighting Network is in dev, i know of 2 project which aim to bring a second layer to bitcoin which will have practically no limit. they both depend on segwit implementation to be widely adopted. I believe segwit will take time to be widely adopted maybe a year, and by then the Lighting Network will be in great shape.

so in ~1year it should all come together and we'd see headlines like " bitcoin adopts new TX layer, which allows it to handle >100,000TX/sex ".

[AlexGR]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

[AlexGR]

=> http://www.zerohedge.com/news/2016-07-11/kyle-bass-was-right-here-socgens-primer-how-trade-biggest-yuan-depreciation-wave-yet

(TLDR: CNY is projected to slide quite a bit)

[adamstgBit]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX.

[adamstgBit]

looking at the 5 min chart

http://bitcoincharts.com/charts/chart.png?width=940&m=bitfinexUSD&SubmitButton=Draw&r=2&i=5-min&c=0&s=&e=&Prev=&Next=&t=S&b=&a1=&m1=10&a2=&m2=25&x=0&i1=&i2=&i3=&i4=&v=1&cv=0&ps=0&l=1&p=0&

we can conclude nothing

but its fun to watch it live!

[nonbody]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX.

Bitcoin has become more popupar and so does the number of transactions.  An incress in fees will supplement the halving reward of bitcoin in some extent.

[Searing]

 Well this article is claiming it is gonna break out. (hey for what it is worth at least a positive press story ...in a unicorn like manner)

http://www.marketwatch.com/story/why-bitcoin-is-on-the-verge-of-a-breakout-in-one-chart-2016-07-11

hope he is correct

[adamstgBit]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Increase the fee associated with the transaction and you've got a fast confirmation. If you are not in any hurry for a particular transaction, you can lower the fees.

Higher priority => higher fee
Lower priority => lower fee

Get the estimates here: https://bitcoinfees.21.co/

i think fees are set to go slowly higher, even with segwit + LN, i bet there will always be alot of TX demand on-chain. An incress in fees will incentivize poeple to use the second layer's nearly free TX.

Bitcoin has become more popupar and so does the number of transactions.  An incress in fees will supplement the halving reward of bitcoin in some extent.

the doubling in capacity segwit provides = 2 X the fees once TX volume starts hitting that new 2MB limit,  and then fee go up... miners will be alright... eventually there will most likely be yet another doubling of the blocksize to 4MB, maybe devs will end up doubling it every halving?? who knows...

[JayJuanGee]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Should I bite?


What block size issue?  Is there an issue? 


And, you are disappointed with a nearly 3x price appreciation in bitcoin from August 2015 and a more than 50% appreciation since late May 2016?  Or do you mean something else by "lately?"

[elite3000]

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

Should I bite?


What block size issue?  Is there an issue? 


And, you are disappointed with a nearly 3x price appreciation in bitcoin from August 2015 and a more than 50% appreciation since late May 2016?  Or do you mean something else by "lately?"

He was expecting that price would skyrocket 10 seconds after the halving, I think

And I think he mentioned the block size discussion that was popular not long time ago

[AliceGored]

my bet: we are lacking any fantasy right now. no event that we could rally into. the halving was theoretically perfect for a nice rally but the rally got interrupted by the finex and DAO shit. so now what events should markets focus on? there are none. so all thats left is the reduced daily supply, but i doubt that will be shortterm enough.

On the contrary.

Bitcoin movement has been disappointing lately. Any idea when will the block size issue be fixed?

It could be sooner than many expect.



Some fault the miners for being slow to act, and too trusting... but in reality, they have to be very careful. If they do end up being compelled to do something contrary to the wishes of the dominant repository and its developers... they need to have taken every reasonable step at a compromise, an amicable middle ground. In a sense, they need to have been screwed over in an obvious way, to give them the moral justification to act in the spirit of the original agreement.



This may lead to the most ethically profound moment for Bitcoin yet, and the full "coming out" party for the functionality of Bitcoin's "core" incentive mechanism:



And now, back to your regularly scheduled programming...

https://www.reddit.com/r/Bitcoin/comments/4seyk3/its_quiettoo_quiet/

[Dotto]

I love to bang ignore our beloved troll. Four sockpuppets in 5 pages. Activity under 50. Bullish

[bitebits]

if i had really big balls i'd be trying to go in balls deep right now...

Well, that is sorted then: https://youtu.be/Q9c8FJ19yVE?t=62

[bitowl]

so little volume

scary