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

[Torque]

....and segwit is not delivering.

Because the brokers, exchanges, and wallets are not implementing it. Period. End of story.

Let's get to that first, mmkay?

And if they never implement SegWit, are we then being held hostage? Are they our enemies too? Serious question.

[JayJuanGee]

Why? Bigger blocks means more throughput. What is this better that you demand? Suggest something better. Otherwise that's the best we got.

Feel free to make a list of all the hundreds of things that you've been trying to buy online daily or monthly with bitcoin. I'm sure it's a mile long. Those daily fees, amiright?  

I have spent literally hundreds in fees over the last few months. I spent $50 just today. Just on transfers. It's real money out of my pocket. And everyone elses.

Forget your fucking coffee. Fees don't need to be that big. It's a choice. That we have made. Time to make a better one.

It would be nice if some of your big blocker nut job boys would stop spamming the network and also to facilitate segwit wallets on some of the bigger players such as blockchain and coinbase, but apparently they don't consider segwit adoption to be a priority, which is likely contributing to some of the clogging, too.

[realr0ach]

Business, actually. I trade in person at a premium and buy and sell on kraken. It more than pays the rent.

ETA until you get arrested for being an unlicensed money transmitter like all the other people being setup by the poleece?

[Ibian]

....and segwit is not delivering.

Because the brokers, exchanges, and wallets are not implementing it. Period. End of story.

Let's get to that first, mmkay?

And if they never implement SegWit, are we then being held hostage? Are they our enemies too? Serious question.

Would they have not implemented bigger blocks?

Sometimes effectiveness beats out efficiency.

[Torque]

....and segwit is not delivering.

Because the brokers, exchanges, and wallets are not implementing it. Period. End of story.

Let's get to that first, mmkay?

And if they never implement SegWit, are we then being held hostage? Are they our enemies too? Serious question.

Would they have not implemented bigger blocks?

Sometimes effectiveness beats out efficiency.

So we never get to see the effectiveness (or lack thereof) of SegWit because they won't implement it?

Sounds legit. And communist.  

[Ibian]

....and segwit is not delivering.

Because the brokers, exchanges, and wallets are not implementing it. Period. End of story.

Let's get to that first, mmkay?

And if they never implement SegWit, are we then being held hostage? Are they our enemies too? Serious question.

Would they have not implemented bigger blocks?

Sometimes effectiveness beats out efficiency.

So we never get to see the effectiveness of SegWit because they won't implement it?

Sounds legit. And communist. 

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.

[jojo69]

fucking nobody.

except the broad and overwhelming consensus of users that successfully prevented it...

[Torque]

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 plausible reasons why they haven't implemented it yet, just lame excuses.

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

[strawbs]

I read recently on here (at least I think it was on here) about the electricity consumption of mining and using bitcoin, compared to the electricity requirements of the world current fiat systems.  Does anyone have a link or two which shows that BTC's electricity consumption is less than fiat's?

Thanks

[Ibian]

fucking nobody.

except the broad and overwhelming consensus of users that successfully prevented it...

They were wrong.

[realr0ach]

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.

Are you sure they haven't cited the ability for miners to switch to segwit and then switch back turning them into anyone can spend transactions and thus bankrupting Coinbase in the process? lol.

[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