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

[600watt]

Roger Ver is the BIGGEST hypocrite in the Bitcoin space.

This guy has sold almost all of his bitcoins a year ago to invest in dubious business projects. Now he is mad to see he had lost a fortune and could have done much better if he had just hodled his bitcoin stash. He is craving for cheaper bitcoins.

got any sauce? so no danger of him dumping his stash if he hearns out of bitcoin?

[JimboToronto]

Good morning Bitcoinland.

I see we had a little correction/beartrap to "oblivion" overnight and we're barely above where we were less than a week ago... currently $1218USD according to Bitcoinaverage.
 
Seems some people panicked over  a couple of BU blocks being mined.  

It certainly wasn't a deep enough dip for me to buy. I'll keep setting aside enough fiat for the inevitable reaction to the SEC ETF decision.

If it is rejected, I'll buy the proper dip that will ensue. If it's accepted, I'll wait out the following mega-rally and buy the dip that will follow the over-extension.

Meanwhile, life goes on in Bitcoinland. Congrats to anyone who bought some cheaper coins. My deepest sympathy goes out to anyone who sold.

[jbreher]

The current code has a true "bug" (i.e., transaction malleability)

Yes it does. But this malleability bug is inconsequential. It has known workarounds. It affects almost nobody.

OTOH, the fact that no more than ~250,000 transactions can be processed in a day negatively affects everyone who wants to make a transaction, every time they attempt to do so.

[Torque]

The current code has a true "bug" (i.e., transaction malleability)

Yes it does. But this malleability bug is inconsequential. It has known workarounds. It affects almost nobody.

OTOH, the fact that no more than ~250,000 transactions can be processed in a day negatively affects everyone who wants to make a transaction, every time they attempt to do so.

So the desire is instantaneous transactions?  Or scale to Visa-level tpd throughput? Never going to happen on-chain with Bitcoin, no matter what the block size limit is set to. Anyone selling that vision is selling pure snakeoil.

[0xfff]

1. Average transaction time over 2 hours
4. No one spends bitcoin, just hordes

wat? why transaction exist if no one spending? people moving their btc around for fun? wtf this dude is crazy

[jbreher]

The current code has a true "bug" (i.e., transaction malleability)

Yes it does. But this malleability bug is inconsequential. It has known workarounds. It affects almost nobody.

OTOH, the fact that no more than ~250,000 transactions can be processed in a day negatively affects everyone who wants to make a transaction, every time they attempt to do so.

So the desire is instantaneous transactions? 

Not necessarily. Predictable transactions.

Or scale to Visa-level tpd throughput?

As adoption requires, yes.

Never going to happen on-chain with Bitcoin, no matter what the block size limit is set to. Anyone selling that vision is selling pure snakeoil.

Given the timescale over which adoption may possibly grow, you are wrong. And I have grown bored with this conversation.

[Torque]

Or scale to Visa-level tpd throughput?

As adoption requires, yes.

Never going to happen on-chain with Bitcoin, no matter what the block size limit is set to. Anyone selling that vision is selling pure snakeoil.

Given the timescale over which adoption may possibly grow, you are wrong. And I have grown bored with this conversation.

No you are wrong. Grow bored all you want (or stick your head back in the sand). But their are TECHNICAL LIMITATIONS to how the Bitcoin network is designed/architected, that PREVENT Visa-level transaction-per-second processing (4,000/sec).  No wishing for a 2 MB limit increase will even come close to achieving that.

Now I'm bored...sigh

[becoin]

1. Average transaction time over 2 hours
4. No one spends bitcoin, just hordes

wat? why transaction exist if no one spending? people moving their btc around for fun? wtf this dude is crazy

Yep. The dude is crazy!

This is like saying: "This place is not attractive to people because it is overcrowded"...

[jbreher]

Or scale to Visa-level tpd throughput?

As adoption requires, yes.

Never going to happen on-chain with Bitcoin, no matter what the block size limit is set to. Anyone selling that vision is selling pure snakeoil.

Given the timescale over which adoption may possibly grow, you are wrong. And I have grown bored with this conversation.

No you are wrong. Grow bored all you want (or stick your head back in the sand). But their are TECHNICAL LIMITATIONS to how the Bitcoin network is designed/architected, that PREVENT Visa-level transaction-per-second processing (4,000/sec).  No wishing for a 2 MB limit increase will even come close to achieving that.

Now I'm bored...sigh

Yep, I've got more processing power in my pocket then all of NASA had when they put a man on the moon. <s>But hey - technology will never advance to allow anyone who wants to make a transaction on-chain whenever they want</s>.

Yes, it gets boring. So I'll just go back to operating my BU node, thereby signaling my preference for larger blocks (currently EB 2MB, AD4). You?

[Stevenirving]

Why is this a 1?
What am I missing?
Is ETF by tomorrow?
Have I lost my mind?!

Anyone?

 
 

This is what happens when you stay out of the loop for as long as I have

[york780]

Chinese exchanges OKcoin and  Huobi open on march 9. Perhaps thats it.

[Stevenirving]

Chinese exchanges OKcoin and  Huobi open on march 9. Perhaps thats it.

Have they been down and I am stupid enough to be investing large sums of money without knowing this?!

[Torque]

Yep, I've got more processing power in my pocket then all of NASA had when they put a man on the moon. <s>But hey - technology will never advance to allow anyone who wants to make a transaction on-chain whenever they want</s>.

I didn't say 'never'. I said how Bitcoin is *currently* architected/designed. If one day the devs change that and it gets accepted, then I'm sure Bitcoin can be made to scale better. Or maybe not, maybe off-chain solutions are better in the long run.  Either way, I'm sure that the Bitcoin ecosystem will change dramatically in the next 20 years.

So I'll just go back to operating my BU node, thereby signaling my preference for larger blocks (currently EB 2MB, AD4). You?

You probably won't be running a BU node in the future, so don't get so attached.  But I thank you for participating at all.

[podyx]

Remarkable recovery

[york780]

They are closed since february 9. And they allow withdrawal again on march 9. Maybe this will givs an dump or pump i dont know.

[Stevenirving]

They are closed since february 9. And they allow withdrawal again on march 9. Maybe this will givs an dump or pump i dont know.

I have to assume it will be a pump. This sort of things always ends that way. Exciting!

[Stevenirving]

Going out on a limb here and saying we'll break $1300 tonight or tomorrow

After watching that dump and amazing recovery, it seems really plausible.

[JayJuanGee]

Remarkable recovery

We all know that there is exchange variation, but did you see that low dip on GDAX.... WOW!!!!


All the way down to $1050.    It could have been possible to make some good dinero on that situation.


I do have a GDAX account, but was not really able to take advantage of this situation... so sometimes cannot really trade the dips, if you are busy with other things and do not set your orders....... .. But, yeah, some exchanges had bigger dips than others.  some were nearly 10% and GDAX was approaching the 18% to 20% dip territory, and nearly completely recovered within hours.  WOWZA!!

[GreekGeek]

Hey guys

So what is going on with this fork issue?
Is it something we should worry about in the near future?

[Ibian]

Gonna hit 1500 before any serious setbacks at this rate.