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

[MelMan2002]

GDAX:

Trading will be enabled on the BCH-USD order book at 11am PST. If significant volatility is observed, GDAX will pause trading.

[ragnar0k]

GDAX:

Trading will be enabled on the BCH-USD order book at 11am PST. If significant volatility is observed, GDAX will pause trading.

I think they got themselves in some serious trouble, should have done like gemini that dumped the bch to a wallet. Instead, they want to keep the 'instant buy/sell' model having a crap ton of users happy to make some quick money selling bch. Its going to be fun... Always assuming Ver does not have enough money to bail them out :p

[AlcoHoDL]

Incidentally, tying into my exchange with Bob, being "against" is usually an r trait, while being "for" is a K trait. As in, marxists are against the rich because they are evil thieving exploiters, while capitalists are for personal property rights. K's build themselves up, r's tear others down. A side effect of this is that there is no limit to personal growth for a K, while r's are limited by the relative status of everyone else.

I like that comment, thanks.

[HairyMaclairy]

NYSE Parent co files for Bitcoin Futures ETF

https://www.coindesk.com/ice-exchange-unit-seeking-to-list-bitcoin-futures-etf/

This is the same day that Coinbase launched Bcash (which buried this news).

[600watt]

fuck them dumpers!

[gwoplock]

I think for bitcoin to grow and the price to grow past 20k the scalability issue need to be fixed. Fees of 700+ sat/B is unsustainable. I don't think that increasing the block size like BCH did is the solution but a hard look at scalability is needed.

[Ibian]

I think for bitcoin to grow and the price to grow past 20k the scalability issue need to be fixed. Fees of 700+ sat/B is unsustainable. I don't think that increasing the block size like BCH did is the solution but a hard look at scalability is needed.

Do you think that halving the block size is a solution then?

[STT]

It's hilarious to see the panic and sabotage calls on reddit and in this forum.

Meanwhile, the fees continue to rise:

Good graph but also fees would rise in any case as they are a function of the price.    Perhaps another scale for ratio of fees to price has to be done to show that increasingly value of the mining network is falling.   Ultimately it becomes price gouging as the network is unable to cope with the transaction volume.  Its a failure in competition perhaps, every capitalist system relies on any business can enter that domain and introduce innovation and receive some part of the production revenue.

  This is why the consumer and ultimately society benefits from capitalism over other systems like socialism or fascism where profit is seen as a negative, why isnt BTC an open system any more.   I really preferred when GPU could mine, that was open ended but maybe Im just biased there :p

[nikauforest]

It's hilarious to see the panic and sabotage calls on reddit and in this forum.

Meanwhile, the fees continue to rise:

Good graph but also fees would rise in any case as they are a function of the price.    Perhaps another scale for ratio of fees to price has to be done to show that increasingly value of the mining network is falling.   Ultimately it becomes price gouging as the network is unable to cope with the transaction volume.  Its a failure in competition perhaps, every capitalist system relies on any business can enter that domain and introduce innovation and receive some part of the production revenue.

  This is why the consumer and ultimately society benefits from capitalism over other systems like socialism or fascism where profit is seen as a negative, why isnt BTC an open system any more.   I really preferred when GPU could mine, that was open ended but maybe Im just biased there :p

Looks like a bull market in fees to me.

[Meuh6879]

un-zoom ... un-zoom and ANTIspam is a tool.

[TERA2]

So there's basically 33 million coins now

[Meuh6879]

Fees of 700+ sat/B is unsustainable.

Bitcoin price at 20 000 USD is too high ... too ?  
Bitcoin is a network, if you want it ... pay the fees.

[STT]

Looks like a bull market in fees to me.

This is the kind of thinking I have to the Bitcoin economy, its not good despite the name - https://en.wikipedia.org/wiki/Positive_feedback#Systemic_risk

The fees should be judged by revenue not the fee amount.    Or the ratio to price, inversely as fees rise as a higher percentage of costs this represents failure and an increasing risk of collapse.  I always want to see BTC spread in its market range and coverage by being so useful, this spike in fees stops it spreading to new markets by focusing purely on an elite in speculation.

  We already have extremely expensive vehicles to speculate in for the richest people in the world, its joined the ranks of the political elite who deal $100,000 bundles when I know many people wanted BTC to be about the efficiency and enablement in failed economies for the poorest people on earth.   Clearly $30 fees exclude those people who barely can afford a bank account

[RayX12]

I think for bitcoin to grow and the price to grow past 20k the scalability issue need to be fixed. Fees of 700+ sat/B is unsustainable. I don't think that increasing the block size like BCH did is the solution but a hard look at scalability is needed.

Do you think that halving the block size is a solution then?

Problem could be solved if everyone adopts segwit.

Ture or False?

[RayX12]

NYSE Parent co files for Bitcoin Futures ETF

https://www.coindesk.com/ice-exchange-unit-seeking-to-list-bitcoin-futures-etf/

This is the same day that Coinbase launched Bcash (which buried this news).

Fuck these greedy bastards that want BTC gains and not buy a single Bitcoin.   

[Gab0]

Fees of 700+ sat/B is unsustainable.

Bitcoin price at 20 000 USD is too high ... too ?  
Bitcoin is a network, if you want it ... pay the fees.

I do not understand how this can be a counterargument.
If the price increases to $ 200k, should we expect fees of 7ksat /B?

Networks are maintained and expanded because they are useful. Each time the fees increase, the network progressively loses utility and its network effect.

[Ibian]

I think for bitcoin to grow and the price to grow past 20k the scalability issue need to be fixed. Fees of 700+ sat/B is unsustainable. I don't think that increasing the block size like BCH did is the solution but a hard look at scalability is needed.

Do you think that halving the block size is a solution then?

Problem could be solved if everyone adopts segwit.

Ture or False?

They won't. Living in a fantasy world is not a solution either. Grow up.

[nikauforest]

I think for bitcoin to grow and the price to grow past 20k the scalability issue need to be fixed. Fees of 700+ sat/B is unsustainable. I don't think that increasing the block size like BCH did is the solution but a hard look at scalability is needed.

Do you think that halving the block size is a solution then?

Problem could be solved if everyone adopts segwit.

Ture or False?

that is a good question. Core claims yes. We have 5% segwit adoption so far. ( heard from Jimmy Song this morning) Anyone care to guess the fees if everyone moved to segwit today. 1) The cost to move. 2) the costs after moving. Any guesses?

[Ibian]

I think for bitcoin to grow and the price to grow past 20k the scalability issue need to be fixed. Fees of 700+ sat/B is unsustainable. I don't think that increasing the block size like BCH did is the solution but a hard look at scalability is needed.

Do you think that halving the block size is a solution then?

Problem could be solved if everyone adopts segwit.

Ture or False?

that is a good question. Core claims yes. We have 5% segwit adoption so far. ( heard from Jimmy Song this morning) Anyone care to guess the fees if everyone moved to segwit today. 1) The cost to move. 2) the costs after moving. Any guesses?

See above.

[Ibian]

I think for bitcoin to grow and the price to grow past 20k the scalability issue need to be fixed. Fees of 700+ sat/B is unsustainable. I don't think that increasing the block size like BCH did is the solution but a hard look at scalability is needed.

Do you think that halving the block size is a solution then?

I don't believe this user is a Luke Jr. surrogate.

Exploring extremes is often a good way to find all the ways in which an argument is massively wrong.