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

[AlexGR]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

Which fee should I use?

The fastest and cheapest transaction fee is currently 60 satoshis/byte, shown in green at the top.
For the median transaction size of 292 bytes, this results in a fee of 17,520 satoshis (0.11$).

Yes, that's first block inclusion. FASTEST.

[AlexGR]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

I didn't ask whether it was a problem. I'm asking how it's going with the solutions.

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

Have you noticed that what is happening is exactly what Gavin said was going to happen?

The price has grown from 200 to 400 to 660. If price is an indicator of whether it's working well, I guess it's working damn well.

As for saturation, the chain can be saturated for ever no matter the block size, even 1gb blocks. If it costs near zero to broadcast a tx, why wouldn't it be "saturated"? The only question is whether miners are ok processing these txs or not. Then someone will bitch about "ohhh the mempool is saturated and miners don't process my 0.000001$ tx" 

[Fatman3001]

Any news about wtf is going on with scaling? Any thoughts on Bitcoins lacklustre performance lately?

https://bitcoinfees.21.co/

Scaling is so "bad" that in the last 24hr

125 txs were conducted with zero fees
48k txs were conducted with 1-10 satoshi /byte
11.5k txs were conducted with 11-20 satoshi /byte
19.5k txs were conducted with 21-30 satoshi /byte

If there was a capacity issue the above would be impossible at such dirt-cheap levels.

Furthermore, the attempt to pin "scaling" and "price" together has failed at levels like 200-300-400 etc when people were saying "oh it will never go beyond 200 because ...scaling".... and then the same at 300, 400, etc.

I didn't ask whether it was a problem. I'm asking how it's going with the solutions.

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

Have you noticed that what is happening is exactly what Gavin said was going to happen?

The price has grown from 200 to 400 to 660. If price is an indicator of whether it's working well, I guess it's working damn well.

As for saturation, the chain can be saturated for ever no matter the block size, even 1gb blocks. If it costs near zero to broadcast a tx, why wouldn't it be "saturated"? The only question is whether miners are ok processing these txs or not. Then someone will bitch about "ohhh the mempool is saturated and miners don't process my 0.000001$ tx" 

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

[AlexGR]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

[Fatman3001]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

nevermind, I guess that means no

Edit : Ok, so it was released a day ago

thx!

Edit 2: Any idea how long it will take with the seeds?

[AlexGR]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

nevermind, I guess that means no

Edit : Ok, so it was released a day ago

thx!

Edit 2: Any idea how long it will take with the seeds?

No idea.

[Fatman3001]

Can you please stop pouring stupid down my throat? I'm not going to argue whether 1+1=3 with you. But I know you probably know what's going on with segwit and LN. Is there any progress whatsoever?

https://github.com/bitcoin/bitcoin/blob/0.13/doc/release-notes.md

nevermind, I guess that means no

Edit : Ok, so it was released a day ago

thx!

Edit 2: Any idea how long it will take with the seeds?

No idea.

ok,thx

[marcus_of_augustus]

Gavin said Craig Wright is Satoshi ... oh, yeah, that happened ... exactly like he said, uh-huh, uh-huh.

[Fatman3001]

Gavin said Craig Wright is Satoshi ... oh, yeah, that happened ... exactly like he said, uh-huh, uh-huh.

What happened was that Craig Wright chickened out. Pretty much like Satoshi did.

[marcus_of_augustus]

Gavin said Craig Wright is Satoshi ... oh, yeah, that happened ... exactly like he said, uh-huh, uh-huh.

What happened was that Craig Wright chickened out. Pretty much like Satoshi did.

Yeah Satoshi "chickened out" ... right after he produced and fostered the weapon to destroy the most powerful, criminal cartel the planet has ever seen.

Keep up your slide into irrelevancy you fat fuck.

[adamstgBit]

[adamstgBit]

Have patience friend, Bitcoin ETF's will come.

in 6months?

Hello? Soon. ^TM

[adamstgBit]

[adamstgBit]

[yefi]

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

You should reserve your hences and therefores for when price breaks 500 USD. At the moment price is doing exactly what would be expected after a major move up, and that has nothing to do with abandonment.

[adamstgBit]

what you are about to witness is scientifically authentic
it is just one step ahead of present day reality
and two steps ahead of present day sexyness
prepare yourself to attempt conceive an inconceivable
outer space adventure
brace yourself for somthing so fantastically fantastical
you'll soil yourself from intergalactic excitement
get ready to

[adamstgBit]

[Fatman3001]

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

You should reserve your hences and therefores for when price breaks 500 USD. At the moment price is doing exactly what would be expected after a major move up, and that has nothing to do with abandonment.

Ugh, this reminds me of British Leyland documentary.

Let's hope some news about SegWit and LN starts trickling out soon so I won't have to be given the green light by Old Yefi The Wise to use my hences. The therefores are yours to keep.

[adamstgBit]

Of course the chain won't stay saturated forever. Nobody "needs" Bitcoin now.

When it doesn't work properly people stop using it.

Hence the price.

You should reserve your hences and therefores for when price breaks 500 USD. At the moment price is doing exactly what would be expected after a major move up, and that has nothing to do with abandonment.

Ugh, this reminds me of British Leyland documentary.

Let's hope some news about SegWit and LN starts trickling out soon so I won't have to be given the green light by Old Yefi The Wise to use my hences. The therefores are yours to keep.

there is a workable Alpha version of LN
its called Thunder i think
https://www.blockchain.com/thunder/
yup.


The bar for financial software is very high, they aren't building a some silly MMO packaged in a neat little box for 50$ a piece...
plus i get the feeling these open source devs simply dont give a crap about deadlines, they are just having fun, working on their masterpiece. I wouldn't be surprised if they spend a life time working on it.

[adamstgBit]

JayJuanGee are you almost done slowly selling little bits of coin at this "new price level"?

just wondering when you and the other million newbies ( i guess we can't call you newbies anymore when you start grabbing profits... )Jr. are done "balancing their portfolio".


you're gonna be at it for months aren't you....