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Question: When will BTC get back above $70K:
7/14 - 0 (0%)
7/21 - 1 (0.8%)
7/28 - 11 (9%)
8/4 - 16 (13.1%)
8/11 - 7 (5.7%)
8/18 - 6 (4.9%)
8/25 - 8 (6.6%)
After August - 73 (59.8%)
Total Voters: 122

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 26486872 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (174 posts by 3 users with 9 merit deleted.)
bitserve
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May 17, 2017, 01:37:49 AM
Last edit: May 17, 2017, 01:50:30 AM by bitserve


I doubt that the empirical data actually supports this assertion.

In other words, I doubt that merely increasing the fee solves the spam problem and causes your transaction to go through in a timely or expected manner.

Yes, increasing the fee does surely almost guarantee it.

It doesn't solve the spam problem though... as spam will keep increasing the number of unconfirmed transactions in the mempool... but that's something that won't affect your properly  generously paid transaction.

For illustration, this is like a BUS system transportation, in which, when the BUS is empty, people can board for free or for a small fee, but paid travellers can always buy their seat.

When there is enough paying people to fill the BUS, all the rest can keep in the queue but there's no place for them, so they have to wait. If there is more people willing to pay that capacity in the BUS, you can always pay more than the rest to make sure you get your seat. As long as you are willing to pay enough, your seat is garanted, no matter how many are crowding outside waiting for their free/cheap ride.

Now take into account that many of people waiting outside in the queue doesn't really want to get onto the bus, they are just in the crowd complaining about how expensive the BUS now is, that they can't get on it for free anymore, and that they have been waiting for days to get a cheap seat.... while the paying passengers are just flowing as always (paying a higher fee as before though).


Quote
Sure if the price is not moving too much, you can make these kinds of assertions, but in the end, we don't really know for sure if there were coins that were delayed in being moved and therefore delayed in being dumped in order to lower the price.

Even if they were delayed... they were delayed since when?

Even if you consider a 2 days delay (what?!) that does mean that after two days all the coins arrive at the exchanges and its only the next ones that are yet to be received. So theres not much impact from that, just some lag (again the two days figure is an extreme exageration).

Unless you are considering that this fee/delay problem is something new that just hapenned since the last hours/days.
podyx
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May 17, 2017, 02:13:20 AM

What the fuck is going on with ripple.

It's gone up 60x the last 2 months. Why have I not heard anything about it?
marcus_of_augustus
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May 17, 2017, 02:24:38 AM

I can feel the concern trolling level rising....

FUDster alerts going off all over the place.

Yeah, I noticed this little pattern. r/bitcoin normally averages around a couple hundred users at any given time. Whenever it goes above a 1000 users, they're all troll accounts concern-trolling and posting FUD. Currently at 2811 users... lol

Edit: Now at 3682, lol

FUDstorm, concern trolling, TX spam DDOS and then dump ... pretty consistent attack modus operandi now, wonder how long it will remain effective?
JayJuanGee
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May 17, 2017, 02:24:50 AM


I doubt that the empirical data actually supports this assertion.

In other words, I doubt that merely increasing the fee solves the spam problem and causes your transaction to go through in a timely or expected manner.

Yes, increasing the fee does surely almost guarantee it.

Probably better to just cut our losses here and agree to disagree.

When the system is not being spam attacked, there are almost no fees.  I mean you can get transactions through by paying very minimal fees.  I have experimented with this and have also seen information of the transactions of others.

When spam attacks are going on, you can pay high fees and your transactions will not go through.  I have experienced this several times.  I know it is anectdotal, but still, I have no doubts that others are having similar problems of paying regular or high fees and their transactions are still stuck (most likely due to spam attacks)
 

Quote
Sure if the price is not moving too much, you can make these kinds of assertions, but in the end, we don't really know for sure if there were coins that were delayed in being moved and therefore delayed in being dumped in order to lower the price.

Even if they were delayed... they were delayed since when?

Even if you consider a 2 days delay (what?!) that does mean that after two days all the coins arrive at the exchanges and its only the next ones that are yet to be received. So theres not much impact from that, just some lag (again the two days figure is an extreme exageration).

Unless you are considering that this fee/delay problem is something new that just hapenned since the last hours/days.



You seem to be assuming a lot.  Yeah, more experienced folks are not going to be caught with their pants down too often because they are going to be prepared, but sometimes when the price is moving, folks want to move their coins and to off load them, but could be delayed for a few days because of the blockage.

You cannot just assume no impact without any facts.  If there is a delay, there are likely various impacts, whether those impacts make significant differences would be up to extensive analysis - because it is not easy to argue about conclusion if we cannot even agree on facts or even the significance of various facts.




Paashaas
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May 17, 2017, 02:31:44 AM

Today is my niece birthday, she's 8 years now.

I got a cool gift for here, i'll make a vacuum plastic shielded paper wallet with 0.05 ore 0.1 Bitcoin on it.

She needs to keep it for atleast 10 years, so when she turns 18 she can buy a part of here drivers license.

I'll update it later with a foto  Smiley
Ted E. Bare
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May 17, 2017, 02:39:19 AM

That is a nice gift Paashaas. Always fun to share bitcoins with your loved ones.
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May 17, 2017, 02:42:59 AM

Is this the start of the pump to 2k USD? Look at those volume bars.

podyx
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May 17, 2017, 02:50:12 AM

Is this the start of the pump to 2k USD? Look at those volume bars.



Meanwhile ripple has gone from about $15 to $1k in the last 2 months in relation to bitcoin price
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May 17, 2017, 02:59:42 AM


Meanwhile ripple has gone from about $15 to $1k in the last 2 months in relation to bitcoin price

Healthy organic growth, don't you think?

I didn't make any money on its way up, but I will do on its way down Smiley
podyx
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May 17, 2017, 03:01:54 AM


Meanwhile ripple has gone from about $15 to $1k in the last 2 months in relation to bitcoin price

Healthy organic growth, don't you think?

I didn't make any money on its way up, but I will do on its way down Smiley


Where do you short it?
bitserve
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May 17, 2017, 03:06:54 AM


Meanwhile ripple has gone from about $15 to $1k in the last 2 months in relation to bitcoin price

Healthy organic growth, don't you think?

I didn't make any money on its way up, but I will do on its way down Smiley


Where do you short it?

Poloniex, but let me tell you that if I had shorted it the first time I thought about it, I would be broke by now Wink

It's very risky to short an altcoin with a crazy unexplained rise.... and markets can remain irrational longer than you can remain solvent.
White sugar
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May 17, 2017, 03:08:45 AM

Is this the start of the pump to 2k USD? Look at those volume bars.



volume can be high on dumps too

we also are in the middle of a network spam attack
Okurkabinladin
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May 17, 2017, 03:09:06 AM

So far it unfolds very much like 2013 bubble did. Altcoins shortly making boosts during bitcoin correction - then more growth (wave 5?) for Bitcoin.

Quite exciting and eventful year for all of us.
deepcolderwallet
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May 17, 2017, 03:25:18 AM

What's going on bitstamp?
Why this spread??
A few minutes ago spread got over 40 $!!!
marcus_of_augustus
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May 17, 2017, 03:32:20 AM

shorts be like







Ted E. Bare
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May 17, 2017, 03:32:38 AM

What's going on bitstamp?
Why this spread??
A few minutes ago spread got over 40 $!!!


It's not called Bearstamp for nothing.
deepcolderwallet
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May 17, 2017, 03:36:48 AM

What's going on bitstamp?
Why this spread??
A few minutes ago spread got over 40 $!!!


It's not called Bearstamp for nothing.

Look at the candles size @ 30 min chart!
bitserve
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May 17, 2017, 03:42:40 AM

What's going on bitstamp?
Why this spread??
A few minutes ago spread got over 40 $!!!


It's not called Bearstamp for nothing.

Look at the candles size @ 30 min chart!

Yep, really weird. It scared me at first, but after seeing it didn't have any impact on kraken price I decided to ignore it.
Whatever is hapenning on Bitstamp, it's happening just there.

Also, notice how even BTC-E is higher price than Bitstamp now.
Okurkabinladin
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May 17, 2017, 03:48:48 AM

What's going on bitstamp?
Why this spread??
A few minutes ago spread got over 40 $!!!


It's not called Bearstamp for nothing.

It might be the only major western exchange that is not completely owned by insiders.

I wouldnt discount its influence.
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May 17, 2017, 03:57:50 AM


Meanwhile ripple has gone from about $15 to $1k in the last 2 months in relation to bitcoin price

Healthy organic growth, don't you think?

I didn't make any money on its way up, but I will do on its way down Smiley


Where do you short it?

Poloniex, but let me tell you that if I had shorted it the first time I thought about it, I would be broke by now Wink

It's very risky to short an altcoin with a crazy unexplained rise.... and markets can remain irrational longer than you can remain solvent.

Hope you got some crystal balls..
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