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

[phoenix1]

Testing LTC in the new trading engine 

No, I expect that would look more like this

[klee]

Testing LTC in the new trading engine 

No, I expect that would look more like this

Fox trap!!!

[Dalib]

This time it's probably not the next "victim of their success"  

[phoenix1]

I stand corrected ... here is the first trial of the new smokin' fast trading engine ...



Apparently it did not end well for the snail 

[mmitech]

The blockchain size limit is perhaps one of the biggest question/problem in the development right now,
but it seems to be going in the "unlimited" direction.

But this problem is not solved yet.

And right now we are not hitting the hard limit.

When/if we hit it, it will influence the transaction fees.
They will have to go up quite a bit for the "off chain transactions" to be interesting.

And maybe they will solve it by promoting LTC for small transactions.

Or Feathercoin, or Blightcoin, or any other coin.

This is assuming that nothing more elegant than another blockchain can be used for the "off chain transactions" scheme.

Right now small BTC transactions are limited by amount, because of this problem.

No. That's not even related.
The minimum limit is to -temporarily- protect the blockchain from being bloated with unspendable transactions while the developers are working towards a more market-driven solution.


And because Litecoin is a copy of Bitcoin... how are these same problems dealt with?

I respect your point of view, but I think you can hear what I will say here, Bitcoin is the First, biggest and the most secure and successful Crypto, and may be this will be for a long time, but thinking that it will be the only Crypto and payment system is only ignorant. and pretending that some cryptos doesn't bring any innovation is also ignorant,we all know that almost all cryptos are copied of the source of BTC with some editing, sometimes is just the name, but trying to convince people and your self that LTC is nothing special is just wrong.

In fact do you really think that BTC will be the leader for the next lets say 20 years ? with its technology  (SHA256) , have you ever thought about it, in some point SHA256 will be old as my MMX processor or your Pentium 1, just to remind you I still remember using my Pentium 1 and my windows 3.11 like it was yesterday.

BTC is just the opening of a new technology, culture, a free world, it is like the first car ever made or the first plane ever made, we have choices, it is all about choices.

 what do you think it is better for you? if I am buying a car and decided for a brand X lets say Mercedes, this doesn't mean BMW is worthless, they do the same job but they deffer in some specification which leaded me to make my decision.

LTC do the same thing that BTC does, the fast transactions and the encryption make it referent, whether you like it or not, LTC is here to survive and to be used widely the same as BTC .

and one day all this coins (and add to them all the crap coins) will be gone and replaced with something better, and you will be stuck with holding your BTC.

you know what you sound the same as my boss, he fears change, each time we want to change or upgrade a server or software he gives us the what this can do that what we have cant do . but he gives up at the end.        

[klee]

How many lives does MtGox have?

[Frozenlock]

I respect your point of view, (...) is only ignorant. (...) is also ignorant,(...) is just wrong.

(...)
you know what you sound the same as my boss, he fears change, each time we want to change or upgrade a server or software he gives us the what this can do that what we have cant do . but he gives up at the end.        

 

In fact do you really think that BTC will be the leader for the next lets say 20 years ? with its technology  (SHA256) , have you ever thought about it, in some point SHA256 will be old as my MMX processor or your Pentium 1, just to remind you I still remember using my Pentium 1 and my windows 3.11 like it was yesterday.

I also remember how I used the Internet Protocol. Damn this thing is old. Good thing we got rid of it and...
Oh, wait...

You know there's nothing preventing us from changing the proof of work, right?

[fr33d0miz3r]

I also remember how I used the Internet Protocol. Damn this thing is old. Good thing we got rid of it and...

But the first mass computer networks and protocols were older than the Internet. For example, FidoNet (http://en.wikipedia.org/wiki/FidoNet).
What if Bitcoin is a FidoNet of cryptocurrencies? Who knows. Time will tell.

[mmitech]

I respect your point of view, (...) is only ignorant. (...) is also ignorant,(...) is just wrong.

(...)
you know what you sound the same as my boss, he fears change, each time we want to change or upgrade a server or software he gives us the what this can do that what we have cant do . but he gives up at the end.        

 

In fact do you really think that BTC will be the leader for the next lets say 20 years ? with its technology  (SHA256) , have you ever thought about it, in some point SHA256 will be old as my MMX processor or your Pentium 1, just to remind you I still remember using my Pentium 1 and my windows 3.11 like it was yesterday.

I also remember how I used the Internet Protocol. Damn this thing is old. Good thing we got rid of it and...
Oh, wait...

You know there's nothing preventing us from changing the proof of work, right?

to what ?  scrypt ?    LTC already use that tech  

and yes I do respect your point. in fact when i say you are ignorant, this means that there is some facts you should consider but most likely you are ignoring for some reason.

PS: I loved my MMX it was a top that time same as BTC now  

Edit : about internet, if you were an IT engineer you should know that the internet was first used in US army I think around 195x it never used the "todays protocol", and there was a massive improvments all the time , (check the 195x because i am not sure about it but it should be close)

[ChartBuddy]

[fr33d0miz3r]

Meanwhile @ MtGox:

[Frozenlock]

to what ?  scrypt ?    LTC already use that tech  

If for some reason that's what needed, sure, why not?

In some sense that would be funny; I can already imagine the Litecoiners saying
"But, but, we had it first! Don't upgrade... just come to us!"

and yes I do respect your point. in fact when i say you are ignorant, this means that there is some facts you should consider but most likely you are ignoring for some reason.

You guys...
I'm the one who's been schooling you on the blockchain.

[Frozenlock]

I also remember how I used the Internet Protocol. Damn this thing is old. Good thing we got rid of it and...

But the first mass computer networks and protocols were older than the Internet. For example, FidoNet (http://en.wikipedia.org/wiki/FidoNet).
What if Bitcoin is a FidoNet of cryptocurrencies? Who knows. Time will tell.

Sure, and before Ethernet there was other competing network communication architectures, such as token passing.

What you're saying is true, but doesn't help Litecoin in any way: it's basically the same thing!

It's like saying "The internal combustion engine won't be here forever... you should drop your Nissan and take a Ford instead!"

[fr33d0miz3r]

In some sense that would be funny; I can already imagine the Litecoiners saying
"But, but, we had it first! Don't upgrade... just come to us!"

Competition between projects is always good. Maybe, Litecoin developers will make something excellent with LTC tomorrow, who knows?
It's like a competition between Apple & Microsoft.

We don't need ONE project with ONE group of developers. We need at least 3 or 4 big competitive projects (maybe some of them will be forks) for real growing, mass adoption and building the new effective ecomony (not only speculation).

And, of course, we need more different cryptoprojects in the future. But the fact is that today LTC is growing and intending to be adopted by MtGox and then by mass people.

[phoenix1]

Meanwhile, on the other side, Bitcoin tries to play ball with TPTB ...

[mmitech]

I also remember how I used the Internet Protocol. Damn this thing is old. Good thing we got rid of it and...

But the first mass computer networks and protocols were older than the Internet. For example, FidoNet (http://en.wikipedia.org/wiki/FidoNet).
What if Bitcoin is a FidoNet of cryptocurrencies? Who knows. Time will tell.

Sure, and before Ethernet there was other competing network communication architectures, such as token passing.

What you're saying is true, but doesn't help Litecoin in any way: it's basically the same thing!

It's like saying "The internal combustion engine won't be here forever... you should drop your Nissan and take a Ford instead!"

yes this is true, you drive your car until it is time to change , and the owner of a Nissan cant just say we have Nissan why to use ford

[Loozik]

Meanwhile, on the other side, Bitcoin tries to play ball with TPTB ...

LOL 

[prof7bit]

Code:

2246      @MagicalTux [05:40:58] <Cusipzzz> they will be awake in a few hours guys, it's still early there <- already awake   
                      and working on the issue since ~1 hour ago                                                              
2248            rfish can you confirm if this is a DDOS or not?                                                               
2249      TuxBlackEdo sup with mtgox                                                                                          
2249                  bad gateway?                                                                                            
2249      @MagicalTux rfish: it's a hardware issue                                                                            
2249         Subo1978 down from germany                                                                                       
2249      @MagicalTux system was back online for a few secs, then the traffic killed it                                       

[ChartBuddy]

[prof7bit]

Code:

2246      @MagicalTux [05:40:58] <Cusipzzz> they will be awake in a few hours guys, it's still early there <- already awake   
                      and working on the issue since ~1 hour ago                                                              
2248            rfish can you confirm if this is a DDOS or not?                                                               
2249      TuxBlackEdo sup with mtgox                                                                                          
2249                  bad gateway?                                                                                            
2249      @MagicalTux rfish: it's a hardware issue                                                                            
2249         Subo1978 down from germany                                                                                       
2249      @MagicalTux system was back online for a few secs, then the traffic killed it                                       

Code:

2259      @MagicalTux ok, got access back to the system, need to fix one thing and we'll go back up

(time is CEST)