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

[Gab0]

I wish people would do some math and realize that a block size increase is a temporary solution.

That's exactly what it's about, to gain time, not to lose network effect and market dominance while you find other solutions.

Bitcoin can't be all things to all people. It can't cover all use cases. There will be alts for most use cases. Bitcoin is more likely to be the tool for big transfers and high value smart contracts, even a $1000 fee for a billion dollar asset/transfer is a bargain.

So you are other of those who think that Satoshi was wrong? and that its system does not serve the purposes for which I believe it? And that you, like so many others, are the enlightened ones who came to save us from the stupid Satoshi and his faulty system, telling us what really works?

[Ibian]

temporary solution

So, a solution.

We are in a crisis. Segwit has failed. Bigger blocks work. So get over the fucking ideology and implement bigger blocks. Keep segwit for all anyone cares, it doesn't matter.

[Syke]

So you are other of those who think that Satoshi was wrong? and that its system does not serve the purposes for which I believe it? And that you, like so many others, are the enlightened ones who came to save us from the stupid Satoshi and his faulty system, telling us what really works?

Satoshi never designed bitcoin for micropayments. He knew sending .01 btc wasn't part of the plan.

[Rosewater Foundation]

temporary solution

So, a solution.

We are in a crisis. Segwit has failed. Bigger blocks work. So get over the fucking ideology and implement bigger blocks. Keep segwit for all anyone cares, it doesn't matter.

There is no crisis.
SegWit hasn't failed.
Bigger blocks work to eliminate full nodes.

You trolling us?

[Ibian]

So you are other of those who think that Satoshi was wrong? and that its system does not serve the purposes for which I believe it? And that you, like so many others, are the enlightened ones who came to save us from the stupid Satoshi and his faulty system, telling us what really works?

Satoshi never designed bitcoin for micropayments. He knew sending .01 btc wasn't part of the plan.

That's 175 bucks dude. Not a fucking micropayment.

[rolling]

I wish people would do some math and realize that a block size increase is a temporary solution.

That's exactly what it's about, to gain time, not to lose network effect and market dominance while you find other solutions.

Bitcoin can't be all things to all people. It can't cover all use cases. There will be alts for most use cases. Bitcoin is more likely to be the tool for big transfers and high value smart contracts, even a $1000 fee for a billion dollar asset/transfer is a bargain.

So you are other of those who think that Satoshi was wrong? and that its system does not serve the purposes for which I believe it? And that you, like so many others, are the enlightened ones who came to save us from the stupid Satoshi and his faulty system, telling us what really works?

Satoshi is not a god. He had a good idea that a team of other people refined and perfected to make what it is.

I'm saying reality prevents bitcoin from becoming all things to all people. Every purchase, every stock trade, every asset, every device, every forum post, every medical record, etc can't be on the bitcoin blockchain. It can't cover all use cases. Do some math. Multiply people on the planet by each each use case times the number of occurrences per day. Add it up. Tell me how bitcoin can be all things to all people.

[Ibian]

temporary solution

So, a solution.

We are in a crisis. Segwit has failed. Bigger blocks work. So get over the fucking ideology and implement bigger blocks. Keep segwit for all anyone cares, it doesn't matter.

There is no crisis.
SegWit hasn't failed.
Bigger blocks work to eliminate full nodes.

You trolling us?

Ever-increasing fees with no end in sight is a crisis. I predict hundred dollar fees within a year if nothing is done to increase throughput. And nobody fucking uses segwit, that makes it a failure. IT SHOULD NEVER HAVE BEEN OPTIONAL.

[Gab0]

So you are other of those who think that Satoshi was wrong? and that its system does not serve the purposes for which I believe it? And that you, like so many others, are the enlightened ones who came to save us from the stupid Satoshi and his faulty system, telling us what really works?

Satoshi never designed bitcoin for micropayments. He knew sending .01 btc wasn't part of the plan.

Is it necessary to quote the title of White Paper? Can you offer a reference in which Satoshi affirms what you say? I do not think that 10 dollars will be included in the catagory of micro payment. LN will be useful for real micro payments, cents or even less.

[rolling]

Ever-increasing fees with no end in sight is a crisis. I predict hundred dollar fees within a year if nothing is done to increase throughput. And nobody fucking uses segwit, that makes it a failure. IT SHOULD NEVER HAVE BEEN OPTIONAL.

If bitcoin is worth $100k each then I think $100 fees are reasonable. No crisis.

[Syke]

Is it necessary to quote the title of White Paper? Can you offer a reference in which Satoshi affirms what you say? I do not think that 10 dollars will be included in the catagory of micro payment. LN will be useful for real micro payments, cents or even less.

Sure:

Bitcoin isn't currently practical for very small micropayments...not things needing to pay less than 0.01.

[Ibian]

Ever-increasing fees with no end in sight is a crisis. I predict hundred dollar fees within a year if nothing is done to increase throughput. And nobody fucking uses segwit, that makes it a failure. IT SHOULD NEVER HAVE BEEN OPTIONAL.

If bitcoin is worth $100k each then I think $100 fees are reasonable. No crisis.

You will be in the minority when it happens.

[Ibian]

Is it necessary to quote the title of White Paper? Can you offer a reference in which Satoshi affirms what you say? I do not think that 10 dollars will be included in the catagory of micro payment. LN will be useful for real micro payments, cents or even less.

Sure:

Bitcoin isn't currently practical for very small micropayments...not things needing to pay less than 0.01.

Don't be a fucking sophist. CURRENTLY, at the time, meant the dollar value of 0.01 btc. Go ahead and calculate it for us.

[spiderbrain]

So you are other of those who think that Satoshi was wrong? and that its system does not serve the purposes for which I believe it? And that you, like so many others, are the enlightened ones who came to save us from the stupid Satoshi and his faulty system, telling us what really works?

Satoshi never designed bitcoin for micropayments. He knew sending .01 btc wasn't part of the plan.

Is it necessary to quote the title of White Paper? Can you offer a reference in which Satoshi affirms what you say? I do not think that 10 dollars will be included in the catagory of micro payment. LN will be useful for real micro payments, cents or even less.

Relax guys, Satoshi's vision is alive and well, it's just called bitcoin cash now. All we have is a financial services company stealing the name "bitcoin" via some clever open source politics and internet censorship

I personally still love SegwitCoin™ because it is worth heaps, but it has f3ck all to do with bitcoin any more, apart from the name.

[jojo69]

woooooo, $100 fees

I'm terrified




jesus you guys, don't you have your own threads or something?

[Rosewater Foundation]

That tears it. I'm ignoring everyone.

[ragnar0k]

Bcashers are becoming more belligerant now that even ripple passed them

[fabiorem]

If bitcoin is worth $100k each then I think $100 fees are reasonable. No crisis.

And there's litecoin for cheaper things. Already have Segwit and atomic swap, fees are very low. You can buy a car with bitcoin, and beer with litecoin.

[Gab0]

Is it necessary to quote the title of White Paper? Can you offer a reference in which Satoshi affirms what you say? I do not think that 10 dollars will be included in the catagory of micro payment. LN will be useful for real micro payments, cents or even less.

Sure:

Bitcoin isn't currently practical for very small micropayments...not things needing to pay less than 0.01.

That statement is out of context. He meant that he was not efficient at that moment.
Look what it says a little later.

Bitcoin isn't currently practical for very small micropayments.  Not for things like pay per search or per page view without an aggregating mechanism, not things needing to pay less than 0.01.  The dust spam limit is a first try at intentionally trying to prevent overly small micropayments like that.

Bitcoin is practical for smaller transactions than are practical with existing payment methods.  Small enough to include what you might call the top of the micropayment range.  But it doesn't claim to be practical for arbitrarily small micropayments.

[realr0ach]

If bitcoin is worth $100k each then I think $100 fees are reasonable. No crisis.

Wouldn't the logical course of action in said event be to dump all of your bitcoin at once since it requires you to spend $100 everytime you want to use it, and then transfer your money into a cheaper system instead of spending $100+ per day in fees? lol.  Of course, said paradigm would have you seeking out two instruments, the base of Exter's pyramid since it provides the best store of value (gold and silver) and then holding what you need to keep liquid to spend in the worst money of gresham's law since it has lowest fees (fiat dollars).

[OWZ1337]

Bcashers are becoming more belligerant now that even ripple passed them

BeeCash will never bee bitcoin :-D weeee ~ still fools are buying<<<<