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

[Torque]

...

You serious bro?
How about a letter from the CEO [of BCH] (how decentralized).

Hey, jbreher!  Did you receive your official title from Bitcoin Cash yet?  Rick is CEO, Jihan is CSO, and Roger's new title is just "jesus."

They gave me the humble title of assistant GIF-maker in residence   .

Taking facts and trying to make a sarcastic joke out of them doesn't make you look clever, it just makes you look stupid.  

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[ivomm]

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

This is Ver's last bitcoins, hopefully. He is a cancer to the world 

[El duderino_]

So lately ho is Going to buy al them lambo’s   

[Peter R]

I'm not a fence sitter.  I think I've made it clear that I want to see lower fees, reliable confirmations, and to help spread bitcoin all across the world.

The only thing I'm fence sitting on is whether the next move for the BTC/BCH ratio is up or down.

Nothing personal, but let me do a "socialist wants free shit ideolog" -> english translation

"I want to see lower fees" translation: i want free shit, i do not want to compete with people more intent, cause
"help spread bitcoin all across the world" i want my investment go up in value first and foremost, while
"reliable confirmations" i want it all to be very comfy for me, myself and me, i can not code, but someone must take care about that.

"but i am a philantrope, really"

I recently spearheaded the launch of a 5-year / $3-million dollar project called the Gigablock Testnet Initiative.  The goals of the project are to do scaling R&D so that bitcoin can scale to bank the billions of unbanked, facilitated low-friction payments between anyone, and .... well simply be better money.



Link to video of Scaling Bitcoin Stanford talk:

https://www.youtube.com/watch?time_continue=3990&v=LDF8bOEqXt4

People like you may miss all of the work being done to grow bitcoin because you don't realize that you're in a censored echo chamber where only Blockstream/Core's narrative is allowed to propagate.  

[Ibian]

I'm not a fence sitter.  I think I've made it clear that I want to see lower fees, reliable confirmations, and to help spread bitcoin all across the world.

The only thing I'm fence sitting on is whether the next move for the BTC/BCH ratio is up or down.

Nothing personal, but let me do a "socialist wants free shit ideolog" -> english translation

"I want to see lower fees" translation: i want free shit, i do not want to compete with people more intent, cause lower fees will:
"help spread bitcoin all across the world" i want my investment go up in value first and foremost, while
"reliable confirmations" i want it all to be very comfy for me, myself and me, i can not code, but someone must take care about that.

"but i am a philantrope, really"

Nobody is going to buy a broken product. Yes, we want bitcoin to be as good as it can be because that's how capitalism works!

[Last of the V8s]

Thx Peter.
I wonder if this is still here...?
 

yeah the censorship comment is nonsense - it's still there

will watch this tomorrow. It's too late here now and I find all these scammer's voices difficult enough anyway.

for now, tell us, is this the show where the 'global network' turns out to be 6 nodes?

possible i was misinformed

edit: motherfucker Peter you're a wrecker. piss off.

https://www.scribd.com/document/359889814/ScalingBitcoin-Stanford-GigablockNet-Proposal


http://www.trustnodes.com/2017/10/14/first-1gb-bitcoin-block-mined-testnet

[Ludwig Von]

So lately ho is Going to buy al them lambo’s   

We changed to Trabis... . (And looking at Tata 's) 

[AZwarel]

I'm not a fence sitter.  I think I've made it clear that I want to see lower fees, reliable confirmations, and to help spread bitcoin all across the world.

The only thing I'm fence sitting on is whether the next move for the BTC/BCH ratio is up or down.

Nothing personal, but let me do a "socialist wants free shit ideolog" -> english translation

"I want to see lower fees" translation: i want free shit, i do not want to compete with people more intent, cause
"help spread bitcoin all across the world" i want my investment go up in value first and foremost, while
"reliable confirmations" i want it all to be very comfy for me, myself and me, i can not code, but someone must take care about that.

"but i am a philantrope, really"

I recently spearheaded the launch of a 5-year / $3-million dollar project called the Gigablock Testnet Initiative.  The goals of the project are to do scaling R&D so that bitcoin can scale to bank the billions of unbanked, facilitated low-friction payments between anyone, and .... well simply be better money.


People like you may miss all of the work being done to grow bitcoin because you don't realize that you're in a censored echo chamber where only Blockstream/Core's narrative is allowed to propagate.  

You do not know nothing about what i read/know or do not know about "all the work done".

Saying "you are in a censored echo chamber" is not an argument, hence can be ignored as is.
Goals of a project, "spearheading the launch of the real beginning of the starting, now really" does not equal an actual, finished, workable product. Come back when it is done, implemented and used, than i will congratulate for your hard work and ingenuity.

In 3rd world countries, where the economic need to use bitcoin is high (Venezuela, Zimbabwe, India, etc.), it already trades on a higher value than in the banked comfy western countries, so the basic assumption you argue that "scaling problems prohibit 3rd world use" is factually false. You can make it cheaper for them, yes, but it is not broken.

[becoin]

I recently spearheaded the launch of a 5-year / $3-million dollar project called the Gigablock Testnet Initiative.  The goals of the project are to do scaling R&D so that bitcoin can scale to bank the billions of unbanked, facilitated low-friction payments between anyone, and .... well simply be better money.

Why limit the block size to 1GB? Lets make it 1000GB each block, You can then scale bitcoin to bank trillions of unbanked from the entire Milky Way! Or if we make the block size limit to 1000TB then we can scale bitcoin to bank trillions of unbanked from all the nearby galaxies. But then who will host the blockchain? Jesus, is that you?

[BTCMILLIONAIRE]

I can speculate that BCH might go down in the near term while simultaneously being a big block supporter.

You can simultaneously pretend to be an expert while being a con artist. Yes, we are well aware of that.

Don't bother ragnar0k. JBreher will just hand-wave those ramblings of their CEO madman away as unimportant and ignore you.

They need an updated whitepaper,  "A CEO-to-Peer Electronic Cash System".

That sure sounds like Satoshi's vision for "the real" Bitcoin.

[Peter R]

I recently spearheaded the launch of a 5-year / $3-million dollar project called the Gigablock Testnet Initiative.  The goals of the project are to do scaling R&D so that bitcoin can scale to bank the billions of unbanked, facilitated low-friction payments between anyone, and .... well simply be better money.

Why limit the block size to 1GB? Lets make it 1000GB each block, You can then scale bitcoin to bank trillions of unbanked from the entire Milky Way! Or if we make the block size limit to 1000TB then we can scale bitcoin to bank trillions of unbanked from all the nearby galaxies. But then who will host the blockchain? Jesus, is that you?

The eventual solution is to not care how big blocks get.  

When the demand arrives (which will be decades from now), 10 GB and even 100 GB blocks will be feasible.  This is fairly straightforward engineering.

But for now, our research shows that the throughput capacity of a global network of bitcoin nodes is limited to about 100 transactions per second (30x times the current throughput), due to the single-threaded mempool code path of Satoshi-derived clients.  After Andrew Stone's parallelization of mempool, the capacity was increased to about 500 transactions per second (150x the current throughput).  At this point, block propagation becomes the bottleneck.  There is still lots of work to be done.

.

I realize that you're being sarcastic, but you couldn't actually scale bitcoin to a galactic payment system due to speed-of-light constraints.  Happily, since all our world is reachable by an electromagnetic signal in less than 100 ms, the actual bitcoin network doesn't have this physical scaling limitation.

[Last of the V8s]

I can speculate that BCH might go down in the near term while simultaneously being a big block supporter.

You can simultaneously pretend to be an expert while being a con artist. Yes, we are well aware of that.

Don't bother ragnar0k. JBreher will just hand-wave those ramblings of their CEO madman away as unimportant and ignore you.

They need an updated whitepaper,  "A CEO-to-Peer Electronic Cash System".

That sure sounds like Satoshi's vision for "the real" Bitcoin.

@notgrubles 5 hours ago

#Bcash: Peer-to-Centralized-Payment-Processor-to-KYC/AML-clearing-to-Megalomaniac-CEO-to-Peer Cash

[BTCMILLIONAIRE]

I can speculate that BCH might go down in the near term while simultaneously being a big block supporter.

You can simultaneously pretend to be an expert while being a con artist. Yes, we are well aware of that.

Don't bother ragnar0k. JBreher will just hand-wave those ramblings of their CEO madman away as unimportant and ignore you.

They need an updated whitepaper,  "A CEO-to-Peer Electronic Cash System".

That sure sounds like Satoshi's vision for "the real" Bitcoin.

@notgrubles 5 hours ago

#Bcash: Peer-to-Centralized-Payment-Processor-to-KYC/AML-clearing-to-Megalomaniac-CEO-to-Peer Cash

Someone has to think about protecting the children after all.

[kellogsblocks]

Ver dumping BTC again? Trying to make BCH more profitable an bring miners back to the BCH chain?

[Last of the V8s]

I can speculate that BCH might go down in the near term while simultaneously being a big block supporter.

You can simultaneously pretend to be an expert while being a con artist. Yes, we are well aware of that.

Don't bother ragnar0k. JBreher will just hand-wave those ramblings of their CEO madman away as unimportant and ignore you.

They need an updated whitepaper,  "A CEO-to-Peer Electronic Cash System".

That sure sounds like Satoshi's vision for "the real" Bitcoin.

@notgrubles 5 hours ago

#Bcash: Peer-to-Centralized-Payment-Processor-to-KYC/AML-clearing-to-Megalomaniac-CEO-to-Peer Cash

Someone has to think about protecting the children after all.

http://falkvinge.net/2012/09/07/three-reasons-child-porn-must-be-re-legalized-in-the-coming-decade/

protected from the CEO? or his associates perhaps.

[BTCMILLIONAIRE]

I can speculate that BCH might go down in the near term while simultaneously being a big block supporter.

You can simultaneously pretend to be an expert while being a con artist. Yes, we are well aware of that.

Don't bother ragnar0k. JBreher will just hand-wave those ramblings of their CEO madman away as unimportant and ignore you.

They need an updated whitepaper,  "A CEO-to-Peer Electronic Cash System".

That sure sounds like Satoshi's vision for "the real" Bitcoin.

@notgrubles 5 hours ago

#Bcash: Peer-to-Centralized-Payment-Processor-to-KYC/AML-clearing-to-Megalomaniac-CEO-to-Peer Cash

Someone has to think about protecting the children after all.

http://falkvinge.net/2012/09/07/three-reasons-child-porn-must-be-re-legalized-in-the-coming-decade/

protected from the CEO? or his associates perhaps.

Protected from taking too much control of their own lives.

[rafanadal]

So , what's the new support
3000 ?

[Gab0]

You have the balls to say that paying high fees is financial freedom. FREEDOM  
Otherwise I can go back to banksters, why? Different faces, same slavery problem

No, you pay high fees, BECAUSE it is giving you freedom. If you value the cost less than you value the freedom granted, do not use it. It is OPT-IN.
In other words:
The demand for financial sovereignty through the use of the - voluntary(!)- network of Bitcoin is higher than the supply right now, that is why it is expensive, not because of technical limitations. And spam attack, ofc  

Freedom has a cost. No one forces you to pay it.

Ehm... no. You basically are saying
-If I want to voluntarily use the bitcoin network, I must pay those high fees. That doesn't sound like freedom for me. I cannot manage my resources freely if I'm losing a percentage every time besides the spent.

Please rephrase that, because only two alternatives available: fiat banking or the dark side

It's the wrong angle.

What counts for networks is network effect. The bigger the network, the more valuable the network. High fees discourage new users from joining, hence, high fees are detrimental to network effect, and to network value.

We need more throughput. We needed it a year ago.

Good comment. That's what I meant by saying that bitcoin was losing competitiveness with respect to other currencies by sacrificing utility.

According to Adam Smith (apologize for the outdated reference, but I'm still young and I still have a lot to read), the only way that an economic agent has to seize the market, and thus garantee its domain, is understanding the dynamics and processes of competition .

Competence in this sense can be understood perfectly in a Darwinian sense, as the capacity of the economic agent to ensure its subsistence.

That's why the network effect is so important. We are talking about a currency and a reserve of value. If we sacrifice its use as a currency, and its network effect, we lose its attribute as a store of value.

I can not understand the logic, in spite of what I have read, to keep the blocks artificially small, to keep the traffic jams in the network, high rates, and to give cases of uses to other currencies.

(I do not want to be misunderstood [which is very easy due to my bad english], I know it's a long way, but I think that we currently have the tools to not continue to make the situation worse, an increase of 2MB will not centralize the network, and is an option that we currently have while developing others.)

[El duderino_]

How Many btc could they stil have to dump   

[ragnar0k]

http://falkvinge.net/2012/09/07/three-reasons-child-porn-must-be-re-legalized-in-the-coming-decade/

protected from the CEO? or his associates perhaps.

This is genius:

1. The ban (on children pornography) prevents catching/jailing child molesters.

Hey, let's remove the ban, so they don't have to catch them anymore. Problem solved!
Hail to the new BCH CEO