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

[Ibian]

Segwit is, so far, a failure.

It is a medium term solution that would lower fees that we could get today. It works for the wallets that have implemented it. Just no one can send via SW to a broker like Coinbase, arguably the largest and most successful by far. And they have given zero reasons why they haven't implemented it yet, just lame excuses.

SegWit is merely a failure to IMPLEMENT on their part. Period.

Which makes segwit itself a fucking failure. If we rely on the cooperation of Private Businesses for it to work, then it will not work. It needs to be a universal change across the network. Which bigger blocks would have been. And still can be.

[HairyMaclairy]

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In the past 24 hours, US$28 billion of value has been moved on the bitcoin blockchain. No one else even comes close.

Eth for all their talk only moved $3 billion.   Bcash moved $1.6 billion - good for them.

Yes, fees are higher on the bitcoin blockchain. Big demand, higher fees.  No surprises there.  

[Ibian]

Efficiency*. That was the selling point. Bigger blocks is like buying a bigger house, segwit is like cleaning up your mess.

Well guess fucking what, nobody likes cleaning up a mess. Everyone loves a bigger house.

Put ideology aside and look at results. Segwit is, so far, a failure. Nobody would have contested bigger blocks, not exchanges, not wallets, not even miners, fucking nobody.

Well,

*I* contest bigger blocks, for that matter.

- Smaller block is a good antispam for the chain, remember the dice madness
- I run a full chain core node, I don't want 8MB blocks coming in every 10 minutes filled with cheap crap
- I don't want Garzik and Ver to be able to fill the chain with crap when they pump their cash thing, forcing me to store all that crap on my disk. At least, if they try, and they did, it would be costly to them and  limited in size
- Despite all this, I have never waited for a transaction too long, it's functional .

BTC faced a very serious attack lately, and the dev didn't panic, didn't change anything, and BTC won the game. It's a strong signal to keep things as they are, and keep the people who take care of it in charge.

dammit.

Whatever the block size, top end miners will still be top end miners. And shit tier miners will still be shit tier miners.

There is no way around this. People who are good at what they do will do better than people who are bad at what they do.

But this is the problem. We cared too much about what the individual miner might want, and too little about what would be good for the bitcoin ecosystem as a whole. Your relative position would not have changed with bigger blocks, but apparently the typical miner fails to see this.

[gentlemand]

Yes, fees are higher on the bitcoin blockchain. Big demand, higher fees.  No surprises there.  

Never seen that chart before. There's surprisingly high traffic on some relative obscurities.

And it looks like Bitcoin Gold really is living up to its name. It sits there and doesn't actually do anything.

[vroom]

reading the blocksize observer and watching bitcoin going sideways is boring.

Meanwhile I got me a new notebook. A fanless Huawei MateBook X. After like 10 years with a macbook pro I switched to a windows notebook.



Best parts about this notebook are the fanlessness and the great dolby atmos audio system. Big recommendation from me.

[Gab0]

I just downloaded 10mb of a mp3 in about 6 seconds.
The limit of 1mb was fixed 8 years ago. 8 years in which we have seen developments and technological evolution.
2 or 4 mb will not centralize the network, and in exchange it would allow us to advance to LN without inconveniences, bad publicity, bad experience of use, etc.

Many here forget it, but one of the first bitcoin successes was the product of its commercial use. With the Silk Road, bitcoin proved not only to be useful, but also an excellent means of exchange. If the rates were not so high, I'm sure it would continue to be an exchange method. I, for international payments, use bitcoins, since I do not have a credit card or anything similar.

[jbreher]

We'll need open source processors from now on ...

https://riscv.org/

edit: catching the tip of the thread, I see Syke has beat me to it

[mymenace]

Massive battle of the bears

both BTC and altcoins, it will just not go down

[Wekkel]

Best parts about this notebook are the fanlessness and the great dolby atmos audio system. Big recommendation from me.

For me fans aren't an issue (I do not hear them). Sound is not an issue either: I watch 99% of my content without sound. If I do want sound, I do not rely on note book audio but simply plug in a $10+ headphone. So all my money goes to other features.

Personally, I am very interested in the 835 Snapdragon laptops from HP and Asus because of battery life. But in practice, I travel from wall plug to wall plug so battery life is no issue for me in real life. Biggest issue with notebooks is and remains to be: HDD storage is always too small in the end

[xhomerx10]

I've been warning people about Kraken on here for months.

Thieves...avoid.

 I was assimilated when they took over CAVirtex.

Been trying to get my coins off but it has been impossible to login today.  

edit:  and Hitbtc is also down for more than 24 hrs..   

 Finally was able to make a Bitcoin withdraw and the tx shows up on the network.  I'm done with Kraken.

[afbitcoins]

Hey HairyMaclairy (from Donaldson's Dairy) thats interesting about the transaction volumes of the  coins.

I agree with some previous comments about segwit not delivering. Why implement and not use? It makes no sense. Are they really worried segwit isn't secure perhaps?

[Ibian]

Best parts about this notebook are the fanlessness and the great dolby atmos audio system. Big recommendation from me.

For me fans aren't an issue (I do not hear them). Sound is not an issue either: I watch 99% of my content without sound. If I do want sound, I do not rely on note book audio but simply plug in a $10+ headphone. So all my money goes to other features.

Personally, I am very interested in the 835 Snapdragon laptops from HP and Asus because of battery life. But in practice, I travel from wall plug to wall plug so battery life is no issue for me in real life. Biggest issue with notebooks is and remains to be: HDD storage is always too small in the end

How much porn do you need, anyway?

[afbitcoins]

I've been warning people about Kraken on here for months.

Thieves...avoid.

 I was assimilated when they took over CAVirtex.

Been trying to get my coins off but it has been impossible to login today.  

edit:  and Hitbtc is also down for more than 24 hrs..   

 Finally was able to make a Bitcoin withdraw and the tx shows up on the network.  I'm done with Kraken.

I'm done with kraken as soon as i manage to withdraw funds. Haven't prooved ID so can only withdraw tiny bits, after refreshing the withdraw page 20 times, once per day

[Wekkel]

How much porn do you need, anyway?

Who stores pr0n anyway? 

Meanwhile, Bitcoin seems to form that particular stabilisation flag, waiting for the next leg higher. This thing simply does not want to go down.

*insert HODLer theme*

[HairyMaclairy]

Hey HairyMaclairy (from Donaldson's Dairy) thats interesting about the transaction volumes of the  coins.

I agree with some previous comments about segwit not delivering. Why implement and not use? It makes no sense. Are they really worried segwit isn't secure perhaps?

Coinbase has not implemented Segwit.

Coinbase is withholding Bcash until 1 Jan. 

Both of those actions serve to support the price of Bcash.  Draw your own conclusions.

[LewisPirenne]

Another day of BTC doing almost 500K tx as per Blockchain.info.  This means that we are going to see another 20% spike in difficulty in a few days.  Even that Cryptokitties chain is doing almost 1 mio tx today.  Now even Bitmain's own BTC.com is rolling out Segwit wallet to pack more tx into blocks.  I have seen a few 4K+ tx blocks and lots of 3K+ tx blocks.

Given the nominal tx volume in fiat terms, our BTC is averaging out to about $60K fiat per tx vs Cryptokitties chain's less than $4K fiat per tx.  So despite what exchange volume might tell you, e.g. that pump-and-dump XRP's 6 billion+ trading volume.  BTC is actually seeing serious uses and moving lots of value around on the internet, as it is designed to.  

Edit.  Uhm..  by the way, that XRP has passed BCH in marketcap from the current pump....

[Rosewater Foundation]

Coinbase is withholding Bcash until 1 Jan. 

The new year can't come soon enough.

[explorer]

I've been warning people about Kraken on here for months.

Thieves...avoid.

 I was assimilated when they took over CAVirtex.

Been trying to get my coins off but it has been impossible to login today.  

edit:  and Hitbtc is also down for more than 24 hrs..  

 Finally was able to make a Bitcoin withdraw and the tx shows up on the network.  I'm done with Kraken.

I'm done with kraken as soon as i manage to withdraw funds. Haven't prooved ID so can only withdraw tiny bits, after refreshing the withdraw page 20 times, once per day

I gave up trying to log in a loong time ago (last transaction was around the $600/btc range lol).  Honestly don't even remember what I have left there.  It's not much It wasn't much, but could be as much as 1 btc and a few hundred bucks.   Probably not that much, but I think I will wait for a new multi-slice toaster before I exercise that frustration again.

[Heater]

Who stores pr0n anyway? 

Meanwhile, Bitcoin seems to form that particular stabilisation flag, waiting for the next leg higher. This thing simply does not want to go down.

*insert HODLer theme*

Is this the calm before the storm? I can feel an epic pump in my waters -we will talk about it for years to come....

[jojo69]

If they planned on remaining in business you would think they would invest in scaling their service.

They got a huge boost by being named the US GOX claim clearinghouse...and squandered it.