Hyperjacked
Legendary
Activity: 1666
Merit: 1192
It's all mathematics...!
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October 27, 2016, 10:08:09 PM |
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Yeah, best case scenario would be to hover @ 680 for at least a few days. Better to keep the staircase going for as long as possible, in order to start the parabolic spike from a higher platform. But there is no global coalition mandating that we all just hold hands and agree to only buy a little instead of a lot. Too many folks like me (all in and on leverage, and sometimes adding to their positions on the way up).  I closed my leverage long for a very minor loss a few hours before the upmove began in earnest. I will feel more at ease if Segwit is able to activate. Of course, everybody might be thinking the same or by then it might be too late already (buy the rumor sell the news?). I am ok with missing out on some profit though. I have learned that I make the most mistakes when I want to squeeze every drop of (imagined future) profit out of my trades. Leverage is a very bad idea...I learned that lesson during the 2000 stock market crash! Think Bollinger bands... |
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marcus_of_augustus
Legendary
Activity: 3920
Merit: 2350
Eadem mutata resurgo
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October 27, 2016, 10:41:39 PM |
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yefi
Legendary
Activity: 2842
Merit: 1515
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October 27, 2016, 10:49:57 PM |
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I'm not exactly sure how the miner's operations work, exactly. I would imagine that they have their mining set with kinds of algorithms in order to identify how to attempt to balance the finding of the new blocks and the processing of the transactions based on fee amounts.
For example, any fee that is $.10 or higher will likely be in the highest priority, but yeah there could be some miners that focus on higher thresholds.
Regarding the mempool back up of this week, I get the sense that the quantity of fees was not going to make a big difference because there was some kind of attack going on that was not allowing transactions to be processed, for the most part. Why, otherwise, would my transaction that had $.56 not be processed for 30.5 hours. All of a sudden, when the backlog stopped growing (shrunk from 35million bytes backed up to 20 million), my transaction was processed. I really doubt that the behavior was coming from regular miners, but there was some kind of purposeful shenanigans going on that was disallowing the miners from employment of normal transaction processing incentives.
So, personally, generally speaking, at this point in time, I think that a $1 fee is approaching a 10x inflation in the necessary fees, rather than characterizing $1 as a 2x overkill.
I see no programmatic reason to be using thresholds - selfish miners should be packing their blocks with the absolute highest fees. Have you looked for your transaction at blockchain.info and seen what the actual fee per byte was? I'd have to assume it wasn't high enough for that period of time. What I'd really like to see here is wider adoption of RBF by wallets. The ability to bump transactions during congested hours is sorely missing imo. |
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toknormal
Legendary
Activity: 3066
Merit: 1188
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October 27, 2016, 11:54:01 PM |
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Hobular $700 incoming.
(Chinese bitcoin traders + Swiss trains = a match made in heaven, surely)
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sniveling
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October 28, 2016, 12:01:01 AM |
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Hobular $700 incoming.
(Chinese bitcoin traders + Swiss trains = a match made in heaven, surely)
In that case the Swiss trains made the poll correct for once, the majority of 39.5% who took part guessed correctly. Last week I didn't think $700 was possible so fast, and this week I'll be surprised if it doesn't make it to $700 by Sunday. Unfortunately we won't get any new polls until Adam gets control of his account back. It will be ironic if Bitcoin's at a new ATH and the poll's highest option is >690. |
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JayJuanGee
Legendary
Activity: 4438
Merit: 14402
Self-Custody is a right. Say no to "non-custodial"
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October 28, 2016, 12:22:35 AM |
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I'm not exactly sure how the miner's operations work, exactly. I would imagine that they have their mining set with kinds of algorithms in order to identify how to attempt to balance the finding of the new blocks and the processing of the transactions based on fee amounts.
For example, any fee that is $.10 or higher will likely be in the highest priority, but yeah there could be some miners that focus on higher thresholds.
Regarding the mempool back up of this week, I get the sense that the quantity of fees was not going to make a big difference because there was some kind of attack going on that was not allowing transactions to be processed, for the most part. Why, otherwise, would my transaction that had $.56 not be processed for 30.5 hours. All of a sudden, when the backlog stopped growing (shrunk from 35million bytes backed up to 20 million), my transaction was processed. I really doubt that the behavior was coming from regular miners, but there was some kind of purposeful shenanigans going on that was disallowing the miners from employment of normal transaction processing incentives.
So, personally, generally speaking, at this point in time, I think that a $1 fee is approaching a 10x inflation in the necessary fees, rather than characterizing $1 as a 2x overkill.
I see no programmatic reason to be using thresholds - selfish miners should be packing their blocks with the absolute highest fees. Have you looked for your transaction at blockchain.info and seen what the actual fee per byte was? I'd have to assume it wasn't high enough for that period of time. What I'd really like to see here is wider adoption of RBF by wallets. The ability to bump transactions during congested hours is sorely missing imo. Well, I thought that I had already mentioned that mine was 51 satoshis per byte. it was 1699 bytes and the fee was .00085844BTC. I thought that was more than a sufficient amount in order to have the highest priority, and I thought that there would be no real benefits to paying any higher fee. |
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VC George
Sr. Member
Activity: 325
Merit: 250
Carpe noctem
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October 28, 2016, 01:04:39 AM |
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In other news, https://cointelegraph.com/ has lost even the bits and pieces of credibility they had. They just posted an article about how ethereum is the top performing currency in the world Lmao. What troubles me most is what the Clinton campaign has said about Bitcoin and ether(brought up by Wikileaks). What's distributed and free of goverment control is not a good thing for them, but ethereum on the other hand, a CENTRALISED fascist blockchain made up by a junkie in russia is a valuable asset.. People are really showing their real faces nowadays. I'm happy to be a free thinking man and to support Bitcoin in it's whole even if I end up being the last one! https://cointelegraph.com/news/ethereum-to-become-worlds-best-performing-currency-in-2016-bitcoin-secondDdos their asses  |
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nioc
Legendary
Activity: 1624
Merit: 1008
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October 28, 2016, 01:26:13 AM |
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All of these crypto "news" outlets are pushing things according to their investments. You can also get things published by paying them. They haven't had credibility for years.
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keewee
Legendary
Activity: 1025
Merit: 1000
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October 28, 2016, 01:50:38 AM |
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All of these crypto "news" outlets are pushing things according to their investments. You can also get things published by paying them. They haven't had credibility for years.
Basically like all "good" news organisations these days  |
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Master mind
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October 28, 2016, 06:25:21 AM |
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1. BTC980,000*. Satoshi Nakamoto
2. BTC400,000*. HD Moore (AHA)
3. BTC400,000*. Dustin D. Trammell (AHA)
4. BTC400,000*. Tod Beardsley (AHA)
5. BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"
6. BTC300,000. Roger Ver
7. BTC300,000*. "knightmb"
8. BTC200,000. Mark Karpeles
8.5 BTC182,592. "Loaded"
9. BTC174,000*. FBI (Federal Bureau of Investigation, USA)
10. BTC119,000. AsicMiner Management Team of 3 (names?)
11. BTC110,000. Cameron and Tyler Winklevoss
12. BTC100,000. "klaus"
13. BTC100,000. "mezzomix"
14. BTC75,000. "artforz"
15. BTC70,000. Erik Voorhees
17. BTC30,000. "nakowa"
18. BTC30,000. Mircea Popescu
19. BTC30,000. "Goat"
20. BTC25,000. Chamath Palihapitiya
21. BTC25,000. Gavin Andresen
22. BTC20,000. Max Keiser
23. BTC20,000. "Theymos"
LETS PUMP THIS SHIT
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Karartma1
Legendary
Activity: 2310
Merit: 1425
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October 28, 2016, 06:44:34 AM |
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Oh yes! Switzerland is not a bad place to live I would definitely move there and I actually I have a friend who lives there: he is using BTC since 2012 and he confirmed me that as long as you stick to the law buying/selling/exchanging BTC makes no problem. He has several BTC debit cards (xapo, spectro, cryptopay, advcash) and uses them on a daily basis. Lucky him Let's move there  |
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Elwar
Legendary
Activity: 3584
Merit: 2386
Viva Ut Vivas
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October 28, 2016, 06:48:34 AM |
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1. BTC980,000*. Satoshi Nakamoto
...
LETS PUMP THIS SHIT
Since we're throwing out baseless numbers you can add: 2. BTC500,000 Elwar |
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JayJuanGee
Legendary
Activity: 4438
Merit: 14402
Self-Custody is a right. Say no to "non-custodial"
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October 28, 2016, 06:50:31 AM |
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1. BTC980,000*. Satoshi Nakamoto
2. BTC400,000*. HD Moore (AHA)
3. BTC400,000*. Dustin D. Trammell (AHA)
4. BTC400,000*. Tod Beardsley (AHA)
5. BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"
6. BTC300,000. Roger Ver
7. BTC300,000*. "knightmb"
8. BTC200,000. Mark Karpeles
8.5 BTC182,592. "Loaded"
9. BTC174,000*. FBI (Federal Bureau of Investigation, USA)
10. BTC119,000. AsicMiner Management Team of 3 (names?)
11. BTC110,000. Cameron and Tyler Winklevoss
12. BTC100,000. "klaus"
13. BTC100,000. "mezzomix"
14. BTC75,000. "artforz"
15. BTC70,000. Erik Voorhees
17. BTC30,000. "nakowa"
18. BTC30,000. Mircea Popescu
19. BTC30,000. "Goat"
20. BTC25,000. Chamath Palihapitiya
21. BTC25,000. Gavin Andresen
22. BTC20,000. Max Keiser
23. BTC20,000. "Theymos"
LETS PUMP THIS SHIT
Interesting That's funny, about 5million coins, and surely estimated holdings of individuals - yet I am sure that we can account for more than that, no? Or does attempting to account become too petty after listing the supposed top 23-ish? |
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TERA
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October 28, 2016, 07:27:56 AM |
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Whenever I look at the coindesk news listing, all 20 titles say "something something Blockchain something something Bank". I'ts sickening.
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Elwar
Legendary
Activity: 3584
Merit: 2386
Viva Ut Vivas
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October 28, 2016, 08:36:43 AM |
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1. BTC980,000*. Satoshi Nakamoto
2. BTC400,000*. HD Moore (AHA)
3. BTC400,000*. Dustin D. Trammell (AHA)
4. BTC400,000*. Tod Beardsley (AHA)
5. BTC350,000*. "Dread Pirate Roberts" a.k.a. "DPR"
6. BTC300,000. Roger Ver
7. BTC300,000*. "knightmb"
8. BTC200,000. Mark Karpeles
8.5 BTC182,592. "Loaded"
9. BTC174,000*. FBI (Federal Bureau of Investigation, USA)
10. BTC119,000. AsicMiner Management Team of 3 (names?)
11. BTC110,000. Cameron and Tyler Winklevoss
12. BTC100,000. "klaus"
13. BTC100,000. "mezzomix"
14. BTC75,000. "artforz"
15. BTC70,000. Erik Voorhees
17. BTC30,000. "nakowa"
18. BTC30,000. Mircea Popescu
19. BTC30,000. "Goat"
20. BTC25,000. Chamath Palihapitiya
21. BTC25,000. Gavin Andresen
22. BTC20,000. Max Keiser
23. BTC20,000. "Theymos"
LETS PUMP THIS SHIT
Interesting That's funny, about 5million coins, and surely estimated holdings of individuals - yet I am sure that we can account for more than that, no? Or does attempting to account become too petty after listing the supposed top 23-ish? Although the list is totally inaccurate and created by anti-Bitcoin alt pumpers, it does give me a warm and fuzzy knowing that the people with the most money in the new economy will be those that actually supported the original intent of Bitcoin and its reason for coming into being. As opposed to the "we need to regulate Bitcoin!" crowd and the "the blockchain is the answer (because we still worship Keynes)!" crowd. |
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stereotype
Legendary
Activity: 1554
Merit: 1000
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October 28, 2016, 10:31:44 AM |
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Blimey! Any idea who was behind, making this happen? |
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600watt
Legendary
Activity: 2338
Merit: 2106
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October 28, 2016, 10:38:17 AM |
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Blimey! Any idea who was behind, making this happen? sweepay.ch worth noting that there are currently around 800 btc atm worldwide. with this stunt the sbb adds another 1000 vending machines, that spit out btc. |
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molecular
Donator
Legendary
Activity: 2800
Merit: 1023
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October 28, 2016, 11:29:54 AM |
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The 1-week Bitcoin/$USD chart correction is nearing completion. That chart range started correcting around the end of July when the big dump-down from the 5180 Hobular high occured. That correction also painted the handle onto the humungous 3-year cup and handle formation thats been forming since the 2013 China-driven $1200 ATH. The timing of events seems to be pointing to a perfect storm towards the end of the year, possibly consisting of Lightning Network arrival, Segwit, BTC Developer & mining consensus putting previous confrontations to bed and an array of chart technicals going green. Things would then be in place for the Wrinklyboss ETF to turn up and light the touchpaper on the tinder pile.  spot on one caveat: fundamentally we don't know what will be the catalyst exactly, but any sort of conclusion of the "scaling" debate will do. Might even be a - lo and behold - successfull hardfork to unlimited |
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Poll
