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

[Gab0]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

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I want to send someone $200 in bitcoin....what fee would ensure it happens inside 24 hours?

The fastest and cheapest transaction fee is currently 950 satoshis/byte, shown in green at the top.
For the median transaction size of 226 bytes, this results in a fee of 214,700 satoshis.

https://bitcoinfees.earn.com/
Probably an overestimation. Just wait until the hashrate is back up as it should be.

It is not an over estimate. I made a transaction with a fee of $ 8 (129,217 satoshis), and after 6 hours it can not be confirmed.

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Just a little reminder about what Bitcoin was originally planned to be:

https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

And then think again which of the lately numerous Bitcoin-versions comes closest to this vision and therefore would rightly deserve to call itself "Bitcoin".

Hint. It may eventually not be the version you are prefering.

Thank you very much for that "reminder". It is always very interesting to reread what Satoshi thought about his long term perspective in the development of bitcoin.

[becoin]

It is not an over estimate. I made a transaction with a fee of $ 8 (129,217 satoshis), and after 6 hours it can not be confirmed.

But but but why would you use Bitcoin if you can use Bitcoin Cash? It is so fast, block is mined every minute and tx is almost free.

[European Central Bank]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

ask the guy who's paying your wages to go easy on the spamming.

[matt4054]

Buying at $7.5k is not even an issue. It's probably going over $10k by the end of the year, or some time in 2018. Nowadays it's actually much easier to make a huge profit in the long run than a quick profit by day trading...

As for the fees, Segwit2x will probably be a required fork for the "mainstream" Bitcoin, since Segwit alone failed to address the problem in the short term.

[Last of the V8s]

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE

[BlindMayorBitcorn]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

ask the guy who's paying your wages to go easy on the spamming.

Two-faced devil.

[BlindMayorBitcorn]

[conspirosphere.tk]

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE
https://i.imgur.com/cnheKaN.png

It has Gavin's endorsement, so it must be for real:

[becoin]

As for the fees, Segwit2x will probably be a required fork for the "mainstream" Bitcoin, since Segwit alone failed to address the problem in the short term.

The "problem" with the fees will never be solved whatever we do. There will always be people that will say fees are too high. Segwit2x will fail to address the problem and Segwit4x will be required. Then Segwit8x wil be required and so on. This is why I don't see any problem with the fees. If you can't afford those fees just use fiat banking. Bitcoin is for people that do value their money, financial freedom and privacy.

[itod]

I'm going to go out on a limb and say we'll see the largest sell wall in bitcoin history today.

I'm trying to remember some of the past giant sell walls in BTC history. One that stands out in my memory is the one at 300 when the guy cashed out.. I think it was around 30k BTC IIRC.  Of course, that could be dwarfed today in terms of USD value. And I have a feeling it will be soon.  Although this time there's a good chance it's only flashed. Be safe out there folks  

I've witnessed how 32K BTC sell wall on Bitstamp was eaten in a few hours. It was 3 years ago, if I remember correctly, this 25K Ver selling through 2 days is a joke.

[Torque]

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE

That entire pdf is the biggest load of crap I've ever seen. It sounds like it was written by a 3rd grader. And there's a lot of "We the Management will manage things better for you" garbage rhetoric. So centralized management will decide what's best for the lowly masses. Got it.

[Last of the V8s]

It has Gavin's endorsement, so it must be for real:

wait it's not pastiche?

but... but it's all so laughable

[AlexGR]

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE

That entire pdf is the biggest load of crap I've ever seen. It sounds like it was written by a 3rd grader. And there's a lot of "We the Management will manage things better for you" garbage rhetoric. So centralized management will decide what's best for the lowly masses. Got it.

It must be a joke or something...

"telling people what they cannot do, must do, and may do. All of this is slowing a
movement and lowering morale and energy. It just about sucks donkey balls."

[Torque]

It must be a joke or something...

"telling people what they cannot do, must do, and may do. All of this is slowing a
movement and lowering morale and energy. It just about sucks donkey balls."

Oh it gets even more hilarious and telling:

"They’re going to be joining Bitcoin Cash for their reasons, or they’re not going to be joining at all. And their reasons aren’t going to be “decentralization”, “censorship resistance”, “non-aggression money”, or any other nice theoretical construct. Their three reasons for joining Bitcoin Cash, in 99.999% of cases, are going to be profit, profit, and more profit, in that order."  

At least he's upfront on what BCH has always been about from day 1. Not Satoshi's vision at all. Satoshi's white paper means fk all to them.

[Gab0]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

ask the guy who's paying your wages to go easy on the spamming.

Why do you think someone pays me? Because I have a different opinion to yours? The only money I have received is the money I made in my investments. That is the reason for my concern.
In any case, it is not necessary to pay any person to spread FUD on this subject, since it is a real problem.

In my country, the purchases of ETH have increased considerably in comparison with BTC. The reason? The high rates of BTC. It's not FUD, it's a fact.

[itod]

Serious question. Core currently has some development in mind to lower transaction fees and keep the mempool clear? make bitcoin more resistant to spam attacks?

Those Bitcoin Unlimited guys measured the mempool performance and found out it was not the protocol issue, it is protocol implementation issue. Currently transactions commit to the mempool in the single thread exclusively, so it doesn't matter if you have 4 core, 8 core or 32 core processor once the mempool gets saturated it falls apart completely, not being able to process new transactions. They found about this empirically, through watching measurement charts. There is a video from Stanford conference held a week ago where they explained the details, link to Youtube is posted in this thread few pages ago. They wrote a multi-threaded implementation and then (surprise, surprise) made some additional "improvements" on the process, so even if their code will be opensourced it can not be patched directly to Bitcoin Core codebase, developers will have to do some of they own work on it. I'm surprised no one cached this long time ago.

[tonyq]

What matters is the hash rate ! Bitcoin is slow and has expensive transaction fees and it has sucked for a long time! Call me a troll but it's the truth...

You're not a troll, you speak the truth and a lot of people, me included are becoming disillusioned.
I have used bitcoin to bet with for 4 years now and used to be able to transfer coin quickly and cheaply from account to account via my wallets....It's now become a nightmare due to fees and absurd slowness.
I am on the verge of going back to fiat bookmakers....cheaper and faster.
Sad, but you have to be practical.
 

[har23]

many sell wall of 1000 BTC in bitfinex at different price.. This is sad.. really sad.

[True Myth]

https://www.bitcoincash.org/letter-from-the-ceo.pdf
OFFICIAL STATEMENT
COMMUNIQUÉ OFFICIE

That entire pdf is the biggest load of crap I've ever seen. It sounds like it was written by a 3rd grader. And there's a lot of "We the Management will manage things better for you" garbage rhetoric. So centralized management will decide what's best for the lowly masses. Got it.

We encourage change and will never tell you what you can not do... (seconds later) here is a list of things that you can not do...

The suggestion of making holders of Bcash tons of money is litered throughout the statement. (they must be pretty confident)

The statement also drives the point home on how professional they are/will be however, this is one of the most unprofesional things I've read in a long time with words like "shitsling" and "donkey balls"...

In summary, I've decided to sell all of my BTC and buy Bcash to have fun and make money... pretty simple decision... *sarcasm*

[har23]

5500 is the next resistance, maybe 5000$.. so insane...