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

[spooderman]

holy wall bitfinex!

[bitserve]

i read now the last replies regarding the fees and how long you wait etc etc...
i maybe live in another world because the maximum i wait when deposit to exchange or send back etc is never more than 1 hour about....
and i never have problem to pay some small amount...
the question is .. where do we go from now regarding the price??

With the current fee fiasco I suspect we are going down.

Which fiasco? I am trading all day long and have several feeds open... Haven't read anything about a "fiasco". Source?

No particular source... I am just an average user that is having huge problems getting the BTC transferred from a wallet to an exchange.  That is a fiasco, and from what I have read many other people have the same problem.

Ok, I thought you were refering to something new.

Also I wouldn't consider it a "fiasco". I mean, are you sure the problem isn't in the exchange end?

Have you checked the transaction in blockchain explorer to see if it is already confirmed but the exchange is not acknowledging it?

Did the transaction include a proper fee? Unless you set it up manually, it should be ok though.

Anyways, yes, Bitcoin needs to solve the scaling problem asap. But that is already "discounted" in current price. Once that get solved expect the price to skyrocket.

All the transactions show in bitcoin.info as Unconfirmed.  I have been raising the fees manually because my wallet was sending 0.0001 for all transactions.
In my latest transaction I sent 0.25 with 0.0005 (240 satoshi/byte) but when this gets processed it gets added to another 0.5 BTC and then the fee per byte drops to 96??

see the tx: https://blockchain.info/tx-index/44af690b488daae59c2ca4bd055a6dc29378e11e51853de4e0763e72f8dd3e3e

Ya. This one has a low (96 sat/B) fee, and 3 inputs so it might be unexpectedly delayed. The following one with the right fee (~220 Sat/B) will not confirm because it tries to spend the unconfirmed output from the delayed one.

edit: just saw that the one you posted has 3 unconfirmed inputs too! You seem to have a basic misunderstanding of how this all works.

edit2: Ahh. Do you have 'spend unconfirmed change' set in your wallet? That, and a bit of impatience, might have caused this chain of unconfirmed transactions (plus the low fees paid earlier).

a different kind of fiasco it seems.

I have contacted the wallet people but no response except that the fees are too low.. I sent the last transaction with max fees and still nothing.
I am not dev so I dont understand the techno lingo so well.
Right now I have a total of 7 transactions sent in the last 24 hours with increasing fees but none of them have confirmed!

At this point you need to stop sending more transactions until the previous ones settle. The problem here is that you have sent a transaction that used coins that you just received but were not confirmed before sending again.

Maybe someone has a better solution for this, but I would just wait and next time don't use unconfirmed coins as inputs for sending.

[RayX12]

At this point you need to stop sending more transactions until the previous ones settle. The problem here is that you have sent a transaction that used coins that you just received but were not confirmed before sending again.

Maybe someone has a better solution for this, but I would just wait and next time don't use unconfirmed coins as inputs for sending.

But. but. but...  The coins have been in my wallet for a month at least.
I had an issue in my wallet two months ago when it showed un-confirmed balance.
As per the wallet support people, I emptied my wallet to a new one and then created a new wallet where I sent my coins.  That cleared the unconfirmed balance.
But now a month later when I want to send my coins to an exchange I run into this problem.
Maybe it is a wallet problem..  How to fix it?  I dont want to lose my 12 BTC!

[bitserve]

At this point you need to stop sending more transactions until the previous ones settle. The problem here is that you have sent a transaction that used coins that you just received but were not confirmed before sending again.

Maybe someone has a better solution for this, but I would just wait and next time don't use unconfirmed coins as inputs for sending.

But. but. but...  The coins have been in my wallet for a month at least.
I had an issue in my wallet two months ago when it showed un-confirmed balance.
As per the wallet support people, I emptied my wallet to a new one and then created a new wallet where I sent my coins.  That cleared the unconfirmed balance.
But now a month later when I want to send my coins to an exchange I run into this problem.
Maybe it is a wallet problem..  How to fix it?  I dont want to lose my 12 BTC!

What software wallet are you using?

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

Either Ledger Nano S or Trezor.

And for your current problem, make sure you have copy of the seed words and/or backup the wallet. Wait for transactions to settle as any time you keep sending new transactions using your unconfirmed change you are making the problem worse (no coin loss though, except for the fees).

[RayX12]

At this point you need to stop sending more transactions until the previous ones settle. The problem here is that you have sent a transaction that used coins that you just received but were not confirmed before sending again.

Maybe someone has a better solution for this, but I would just wait and next time don't use unconfirmed coins as inputs for sending.

But. but. but...  The coins have been in my wallet for a month at least.
I had an issue in my wallet two months ago when it showed un-confirmed balance.
As per the wallet support people, I emptied my wallet to a new one and then created a new wallet where I sent my coins.  That cleared the unconfirmed balance.
But now a month later when I want to send my coins to an exchange I run into this problem.
Maybe it is a wallet problem..  How to fix it?  I dont want to lose my 12 BTC!

What software wallet are you using?

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

Either Ledger Nano S or Trezor.

And for your current problem, make sure you have copy of the seed words and/or backup the wallet. Wait for transactions to settle as any time you keep sending new transactions using your unconfirmed change you are making the problem worse (no coin loss though, except for the fees).

MultiBit HD v 0.4.1
Yes I have the seed words and will make a backup now.
I was thinking about switching to Electrum wallet.

[spooderman]

someone just ate a 1.5k wall on finex i believe?

[Vin]

holy wall bitfinex!

not holy ; )

[harrymmmm]

someone just ate a 1.5k wall on finex i believe?

I missed the actual destruction, but I saw the shattered remains in the transaction log.

[hodl_2015]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

[leowonderful]

Meanwhile scrolling through threads of 2015 and the 300 dollar prices... Boy aren't we glad those days are finally over. With these trends 2500 is definitely possible by the end of the year, never set your sights too low with bitcoin

[JayJuanGee]

holy wall bitfinex!

and.......?


A little while ago, I saw a buy wall of 360 coins at $1648.. now I see a little baby wall of 137 coins at $1645.



Seems we be going up and going to be testing the $1800 to $2000 range.. Maybe somewhere in the middle of that range will be the next test? 

If we get past the $1800 to $2000 range, then here comes $3k to $5k testing (which I think is less likely to get past that one in this particular run.. but maybe that is the baby bear in me?)

[bitserve]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

[Arcteryx]

Price is going insane right now!
Can't see any sane person selling any of their stash right now until it slows down a bit.
Can see it going to $1700 buy the end of the week.

[becoin]

Meanwhile scrolling through threads of 2015 and the 300 dollar prices... Boy aren't we glad those days are finally over. With these trends 2500 is definitely possible by the end of the year, never set your sights too low with bitcoin

$2500 is possible next month. By the end of the year $10,000 is possible!

More and more people find out that selling bitcoin at next ATH and wait for correction to buy back is very stupid. Soon nobody will sell at whatever price and then price will go parabolic.

[BitcoinNewsMagazine]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

The problem is increasingly sophisticated bitcoin malware. One guy on reddit last week lost 16 bitcoin from Bitcoin Core that was password protected. His hygiene may not have been as good as yours but your password is briefly vulnerable when you open your wallet. Hardware wallets are cheap now. 

[leowonderful]

Meanwhile scrolling through threads of 2015 and the 300 dollar prices... Boy aren't we glad those days are finally over. With these trends 2500 is definitely possible by the end of the year, never set your sights too low with bitcoin

$2500 is possible next month. By the end of the year $10,000 is possible!

More and more people find out that selling bitcoin at next ATH and wait for correction to buy back is very stupid. Soon nobody will sell at whatever price and then price will go parabolic.

I haven't even spent large amounts of money since I bought at 600 and I don't plan on doing so unless an emergency arises or I really need it. If anything the rise is inevitable and anybody who says otherwise is likely an Altcoiner who's crying over selling their coins when they were cheaper. A fact not many know is that up to this month, anybody who has ever bought BTC and held has made profit, no matter at what price, assuming they have not sold. HODL ON!

[Arcteryx]

Uh so soon?
Now that was sooner than predicted by anyone here I would like to think.

[DieJohnny]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

[leowonderful]

Also, if you have 12BTC on a software wallet my advice inmediately changes to: Buy a hardware wallet NOW!

What's wrong with a software wallet? Mine is password protected, stored in a veracrypt volume, which is stored on my encrypted /home partition, and included in several backups stored in different air-gaped locations and only ever connected one at a time. (and most importantly, I'm not running a toy operating system.)

Well, you are describing it perfectly. I can have better security with my hardware wallet without needing any special security measures. I could even use it on "public" computer.

I say "better security" because no matter how many layers of encryption you may be using... at some time you would need your computer to access the wallet in "plaintext" to sign the transactions and that opens an attack vector.

It's much better to have the signing be done inside a specialized hardware....

Plus it is amazingly more convenient to use.

I have been saying this same thing for four years, but I would take it a step further. Easiest and best way to secure your Bitcoin is printing your address and putting two copies in different safe deposit boxes. Then return 10 years later a millionaire.

Software wallets for even moderately competent tech people are complete jokes: passwords, veracrypt?, home partition encrypted, multiple backups, air gapped storage, military grade cement vaults, across continents, different governing body, multi sig, documented access protocol, protocol encrypted, protocol stored in multiple backup locations......OMFG

But what if both of those printed wallets happen to burn or become illegible and it's all gone? Nothing's perfect, we just all try to make it as good as possible. I keep my bitcoin on an old phone with nothing else installed on it that is only connected to WiFi when I make transactions. Works for me just fine, no thievery or anything big and I've had coins since around 2014.

[gentlemand]

There ain't no safe deposit boxes within 100 miles of me, not that I trust the hosts not to make a giant balls up of it eventually. As ever, you're trusting someone else not to screw things up.