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

[jbreher]

What makes you conclude that bitcoin development is slow, implying too slow? 

Garzik's ECE has occurred. One we saw miles ahead. Core failed in delivering a timely solution. Ergo, development is slow. Too slow

[JayJuanGee]

Possibly, it does not hurt to have that level of confidence in Bitfinex, and I do appreciate some of their attempts at innovation. 

The only innovation they have demonstrated is in suckering rats into not fleeing a sinking ship.

Yeah right.

Is it even worth it to engage with you?   

My assertion,  more or less, is that, at this time, I do not have enough confidence in bitfinex to divert towards equity investing in them, yet I think that any reasonable person would agree that there is a certain level of innovativeness in bitfinex's approach to this whole response to a supposed hack matter. 

Whether you believe that they are going to be successful or not, there is some creativity and boldness going on in their ongoing and unfolding approach (whether it was premeditated or not).

What makes you conclude that bitcoin development is slow, implying too slow? 

Garzik's ECE has occurred. One we saw miles ahead. Core failed in delivering a timely solution. Ergo, development is slow. Too slow

Maybe you could speak in english in order that people can understand?

Can you explain a Garzik's ECE statement?

No matter what your response to the above statements, it appears that you are continuing to presume that bitcoin is somehow broken and that there is some kind of need to rush a blocksize limit solution.  The underlying presumption continues to be erroneous.

Bitcoin is processing transactions without any major glitches to security or timeliness or cost, and within the coming months, seg wit is going to go live (could be a year, but seems to be coming out a lot sooner than that).  In other words, bitcoin is coming along fine, currently.

[savetherainforest]

when this thread dies you know bitcoin will be close to exploding....

Wait for it.. Wait for it... Wait... for.. it......... (check again in 24 hours...)






*edit: ...it will be critically critical. 

[billyjoeallen]

Howdy, folks. It's been a while. Soooo....no SegWit yet?

Core fucked you over, but you got your ego invested in defending them and now that it is more and more obvious (Yeah you, JJG) that they had no intention of any kind of on chain scaling at all ever, you try to tell yourself and anyone who will listen that it doesn't really matter much anyway.

So with Core stalling and the centralization of mining in China, I'm wondering why BTC is actually doing as well as it is. Could it be the leper with the most toes? or maybe the technicals haven't caught up with the fundamentals yet. I dunno. All I know is JJG is an idiot and I'm spending my coins like a sailor on leave. Hope it rockets. I still got lots to dump.

[mymenace]

Howdy, folks. It's been a while. Soooo....no SegWit yet?

Core fucked you over, but you got your ego invested in defending them and now that it is more and more obvious (Yeah you, JJG) that they had no intention of any kind of on chain scaling at all ever, you try to tell yourself and anyone who will listen that it doesn't really matter much anyway.

So with Core stalling and the centralization of mining in China, I'm wondering why BTC is actually doing as well as it is. Could it be the leper with the most toes? or maybe the technicals haven't caught up with the fundamentals yet. I dunno. All I know is JJG is an idiot and I'm spending my coins like a sailor on leave. Hope it rockets. I still got lots to dump.

sounds like your talking about fiat, why is there any value in it , confusing is it not?

[Elwar]

[ahmedjadoon]

So we are going below $600 this month?

[becoin]

Howdy, folks. It's been a while. Soooo....no SegWit yet?

Core fucked you over, but you got your ego invested in defending them and now that it is more and more obvious (Yeah you, JJG) that they had no intention of any kind of on chain scaling at all ever, you try to tell yourself and anyone who will listen that it doesn't really matter much anyway.

So with Core stalling and the centralization of mining in China, I'm wondering why BTC is actually doing as well as it is. Could it be the leper with the most toes? or maybe the technicals haven't caught up with the fundamentals yet. I dunno. All I know is JJG is an idiot and I'm spending my coins like a sailor on leave. Hope it rockets. I still got lots to dump.

You sound very disappointed price didn't go lower.

[European Central Bank]

Wow. How does this bja guy keep up the same narrative without changing a thing for years on end? It's seriously impressive.

[BathSaltsDealer]

They have a new expression along old Harlem way
That tells you when a party is ten times more than gay
To say that things are jumpin' leaves not a single doubt
That everthing is in full swing when you hear someone shout

Good morning, bitcoinland. Mmmm... Coffee...

[mymenace]

Walls are high and mighty, big cliff from 800 down, buyers stacking opposite side

looks like a lot of coins going up ready to be munched on

[julian071]

I really need more hopium. Please give me some. Development is sooooo slow. In the meanwhile this: https://tweakers.net/nieuws/115745/abn-amro-begint-met-test-voor-nfc-betalingen-met-android-smartphones.html, Dutch bank experiments with Android wallet and payment via NFC.

What makes you conclude that bitcoin development is slow, implying too slow?  From my understanding there is a lot of development continuing to go on in the bitcoin space.

Even though transaction and payment system is not the only use of bitcoin, the total value of transactions on the network (and fees that people are willing to pay) continues to go up.. whether trickling or not, bitcoin is no where near to being surpassed by any competing system.

https://blockchain.info/charts/transaction-fees?timespan=all

Do you think that some kind of banking payment system serves as any kind of meaningful competition to bitcoin's secure decentralized immutability - that continues to this day?

What makes me conclude that is that I see 'altcoins' lke Dash or even a tiny coin like NLG have more interesting news about innovation and adoption more often then BTC does. And I'm just generally amazed at how much time it takes to simply build a good wallet with features that people would want, like NFC payment and payment based on usernames instead of incomprehensible adresses.

You link a graph. I think this graph is more relevant: https://blockchain.info/charts/n-transactions-per-block

I don't see the rise you are talking about.

You're not good at distributing hopium, JJG =(

About the comparison between fiat and regular banking VS BTC and blockchain technology, of course I do not think the former is an alternative to the latter, concerning secure decentralized immutability. If I would, I wouldn't ask for more hopium. I'm disappointed that this great technology develops so slow, especially in the area of making it useable IRL. BTC should be more then a toy for forum libertarians and Chinese speculators.

Thankfully some trolls have come out to play, that's usually a good sign, so thanks for that small amount of hopium.

[Andre#]

What makes me conclude that is that I see 'altcoins' lke Dash or even a tiny coin like NLG have more interesting news about innovation and adoption more often then BTC does. And I'm just generally amazed at how much time it takes to simply build a good wallet with features that people would want, like NFC payment and payment based on usernames instead of incomprehensible adresses.

You link a graph. I think this graph is more relevant: https://blockchain.info/charts/n-transactions-per-block

I don't see the rise you are talking about.

You're not good at distributing hopium, JJG =(

Use this view, it's more readable:

https://blockchain.info/charts/n-transactions-per-block?timespan=all&daysAverageString=7&scale=1

And then you immediatelty see the problem. 2011: 10 txs per block. In 2012 it was 100 txs. End of 2015 it reached 1,000 txs. Now it's well over 1,000 txs, but it cannot become 10,000 txs. Because of the hard cap of 1,800 txs (with SegWit 3,200).

[AlexGR]

What makes me conclude that is that I see 'altcoins' lke Dash or even a tiny coin like NLG have more interesting news about innovation and adoption more often then BTC does. And I'm just generally amazed at how much time it takes to simply build a good wallet with features that people would want, like NFC payment and payment based on usernames instead of incomprehensible adresses.

You link a graph. I think this graph is more relevant: https://blockchain.info/charts/n-transactions-per-block

I don't see the rise you are talking about.

You're not good at distributing hopium, JJG =(

Use this view, it's more readable:

https://blockchain.info/charts/n-transactions-per-block?timespan=all&daysAverageString=7&scale=1

And then you immediatelty see the problem. 2011: 10 txs per block. In 2012 it was 100 txs. End of 2015 it reached 1,000 txs. Now it's well over 1,000 txs, but it cannot become 10,000 txs. Because of the hard cap of 1,800 txs (with SegWit 3,200).

Let's say we take the limit to 100.000 txs per block. And someone spams it to 100k txs per block all the time.

Then you come back and say "ah well, we are maxed out, we can't go over 100k txs per block".

But this is irrelevant.

What matters is real txs that pay actual fees to get included.

https://bitcoinfees.21.co/

~40k txs in the last day were in the 0-9 satoshi / byte range.

This wouldn't happen if there was actual congestion. These 40k txs would be replaced by much higher paying txs.

[Andre#]

Fck, network clogged again. Got an annoyed customer complaining about his coins not arriving. 

[nioc]

Fck, network clogged again. Got an annoyed customer complaining about his coins not arriving. 

Are you btc support?

My transaction has not been included in the last 4 blocks.  I used the recommended fee from my electrum wallet which varies and has worked in the past.

[Andre#]

Fck, network clogged again. Got an annoyed customer complaining about his coins not arriving. 

Are you btc support?

My transaction has not been included in the last 4 blocks.  I used the recommended fee from my electrum wallet which varies and has worked in the past.

No, I'm not BTC support. Just a simple trader. I'm using Mycelium which usually does a good job chasing the moving target called transaction fee. But sometimes it fails, and I'm left with a complaining customer.

[nioc]

Jk about support ofc   Now at 6 blocks and unconfirmed.  Oh well. 

[JayJuanGee]

Howdy, folks. It's been a while. Soooo....no SegWit yet?

Core fucked you over, but you got your ego invested in defending them and now that it is more and more obvious (Yeah you, JJG) that they had no intention of any kind of on chain scaling at all ever, you try to tell yourself and anyone who will listen that it doesn't really matter much anyway.

So with Core stalling and the centralization of mining in China, I'm wondering why BTC is actually doing as well as it is. Could it be the leper with the most toes? or maybe the technicals haven't caught up with the fundamentals yet. I dunno. All I know is JJG is an idiot and I'm spending my coins like a sailor on leave. Hope it rockets. I still got lots to dump.

Yeah, you are smarter than the rest of us, and you assert that you are always covered no matter which way the market goes (and you have tons of BTC, bullshit), even though you were proclaiming the time to short in the upper $200s and then again later proclaiming the time to short in the upper $300s.  Both times, you were reckted with your stupid ass renditions that bitcoin is dead.

As I already asserted in my most recent posts, in bitcoinlandia, matters seem to be progressing very well in terms of development, scaling, security, fees, censorship resistance and many of the other value added aspects of bitcoin, so maybe you could exercise a bit of patience, rather than mouthing off about continued fearmongering nonsense.. whatever happened to your scary over used and misleading fulblocalypse term?  Even you are likely realizing that use of such of term had little to no credibility in attempts to apply it to the real world, so you have to try other forms of "creativity" and FUCD spreading...

nice to see you are  back to posting your well-reasoned factual based assertions....

NOT

[nioc]

Right or wrong BJA's posts are entertaining.

12 blocks and I'm still waiting to be included in a block.  Mempool 7-8mb  blocksize 1mb

Guess I'll wait