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

[Biro Bob]

75 dollars fee on a 75 dollars tx. WAT.

That seems really high. I just paid $11 (0.0008) and got a confirmation in under 30 minutes.

[Ibian]

BTG is gettin a little pump. .02 now on bittrex. I'm dreaming of .05

Speaking of, is there a reliable way to extract them from old coins?

Coinomi app wallet is 0retty simple and secure, if you move your btc first.

Tried that with bcash, didn't work. Had to use a btc.com wallet to extract those. Possibly because it was from a pretty old electrum wallet? I know they changed format once or twice.

It You need to recover from seed use bither app. You can also claim bcd and sbtc with it.
If you have problems pm me and I will be glad to help you

Edit: if your old private keys didn't worked in coinomi, your problem is probably related to compressed/uncompressed format, you can convert the format using bitaddress.org.

During the early fork days I helped out a lot of people, I become some kind of expert xd

Alright, got bither running (on a spare phone). Set up a wallet and tried to scan my private keys from electrum, but apparently they are not in bip38 format? What do?

Are they unencrypted?
If Yes, just click "wallet details" in bitaddress.org (better use it offline, the github source for download is linked on the site itself) and use their tool to convert them


EDIT: Before messing with this, try the other import priv key (not bip38) option!

I tried the other option, but it just demands a password (which is not what I set for the wallet) and doesn't move on from there.

 Not your Electrum wallet password but the Bither password.
If you have nothing in Bither, uninstall, reinstall and remember your password this time.  It works.

It's not my bither wallet password it wants, it's something else.

 No it isn't something else.  You have to enter the Bither wallet password to import the private keys.  

And when I do that it doesn't accept it. Yes it's the correct password, it is very simple and memorable. It asked for it before I had even set a password as well.

 Are trying to scan the QRcode for your electrum wallet seed?  Don't do that.
You have to view your addresses in Electrum, right click on them and view each one's private key separately.  Open the QRcode for it and scan it with the Bither wallet using the advanced options and
 then Import Private Key and then select From Private Key Text and scan it in.
 

That worked. Now to scan them all and see if there is any gold to dig up... Should I import the compressed or uncompressed address?

 Probably uncompressed but make sure the address you select matches the Bitcoin address you scanned the private key's QRcode for and you'll be fine.

Compressed corresponds to the public key. Uncompressed doesn't correspond to the public or private key.

 If the private key begins with K or L then use compressed.  If it begins with 5, use uncompressed.

Edit.  I just realized you said compressed corresponds to the public key - that's the one to use.
Sorry, I'm playing with Kraken as well and I think they just enabled trading again.

Alright, imported the priv keys from a wallet that used to hold about 10 btc but it only shows about 3 btg as getable. Weird, but at least it's something. Thanks guys, gonna keep playing with this.

One final question, I only need to import the keys that have >0 tx right?

[mymenace]

One reason price might follow difficulty is that mining should not be too profitable (because nothing should be too profitable, the world doesn't leave free money lying around). Therefore the price of Bitcoins can't rise too much above the cost of mining (counting equipment depreciation among the costs of course). The cost of mining is proportional to the difficulty (approximately). Therefore we might expect to see price proportional to difficulty.

We do see a nearly proportional relationship in the 1st graph, but that data set was incomplete. I'd like to see that last graph redone with a linear difficulty scale so we could see how the proportionality holds up with more data.

https://blockchain.info/charts/market-price?timespan=all


https://blockchain.info/charts/difficulty?timespan=all

[pfrtlpfmpf]

Does Roach just get his posts from some sort of random bullshit generator?

I'm not sure. He keeps saying the same thing "This user is currently ignored."

Yeah, but i´m not sure about his motivations. Well no, he´s just an asshole. What can i say . . . 

[mymenace]

..."Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million."....

https://www.mail-archive.com/cryptography@metzdowd.com/msg10152.html

[pfrtlpfmpf]

..."Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million."....

https://www.mail-archive.com/cryptography@metzdowd.com/msg10152.html

What you´re saying ?  I´m a rich bitch, or, . . . naah

[Dabs]

Does Roach just get his posts from some sort of random bullshit generator?

I'm not sure. He keeps saying the same thing "This user is currently ignored."

Yeah, but i´m not sure about his motivations. Well no, he´s just an asshole. What can i say . . .  

I don't have anyone on ignore. For awhile I read what he had to say, even went through his whole blog. In the end, none of it made sense to me, there are many errors both in logic and in certain assumptions, and he keeps repeating the same things over and over.

No, the random bs generator is built into his brain or something. That's just how he thinks, or how he expresses himself.

But I'm a nice guy, I'll feed the troll enough just so he doesn't starve, but everything he says is junk. I don't even know why he sticks around. (wait, maybe because we keep feeding him.)

[Dabs]

..."Current estimates of total worldwide household wealth that I have found range from $100 trillion to $300 trillion. With 20 million coins, that gives each coin a value of about $10 million."....

https://www.mail-archive.com/cryptography@metzdowd.com/msg10152.html

What you´re saying ?  I´m a rich bitch, or, . . . naah

I'd start with $100k, which is maybe this year or next year, we don't know for sure. $1m will come in a few short years, so keep a few set aside in cold storage or something. You can go play (and probably lose) the rest.

In my mind, between 2025 and 2035 is when all the "practical" bitcoins have been mined, or we are close to 99% mined. The next one hundred years is for the last bitcoin, and that quantity matters less, but cost of production of those last few bitcoins will drive the price of the entire marketcap.

Here is the coin supply schedule estimated:

Current bitcoins: 16 million, Block Reward 12.5 BTC
By 2018: 17 million
By 2020: 18 million, Block Reward 6.25 BTC
By 2022: 19 million
By 2024: 19.68 million 93.75%, Block Reward 3.125 BTC
By 2028: 20.34 million 96.87%, Block Reward 1.5625 BTC
By 2032: 20.67 million 98.44%, Block Reward is below 1 BTC.
By 2036: 20.83 million 99.22%
By 2056: 20.99 million 99.99%

By 2064: Less than 1300 BTC added per year
By 2080: Less than 100 BTC added per year
By 2100: Less than 2 BTC added per year
By 2108: The last full bitcoin has been added
By 2144: Mining is purely transaction fees.

Between 2036 to 2144, most or all miners will receive more in transaction fees, than the coinbase block reward.

I think 2025 to 2026 which is less than 10 years away, for all intents and purposes, all bitcoin has been practically mined, and we should see price adjust accordingly. USD is likely to be 100k to 500k by this time, depending on who you believe predicts the price.

2030ish is the decade where we see bitcoin go full million dollars or higher.

[pfrtlpfmpf]

Does Roach just get his posts from some sort of random bullshit generator?

I'm not sure. He keeps saying the same thing "This user is currently ignored."

Yeah, but i´m not sure about his motivations. Well no, he´s just an asshole. What can i say . . .  

I don't have anyone on ignore. For awhile I read what he had to say, even went through his whole blog. In the end, none of it made sense to me, there are many errors both in logic and in certain assumptions, and he keeps repeating the same things over and over.

No, the random bs generator is built into his brain or something. That's just how he thinks, or how he expresses himself.

But I'm a nice guy, I'll feed the troll enough just so he doesn't starve, but everything he says is junk. I don't even know why he sticks around. (wait, maybe because we keep feeding him.)

You, sir, beeing a real gentlemen, even you think he´s a troll, you listen to him and evaluate, hats off.

[bonipper]

...

Also kraken is up and running again. No obvious upgrades, and a deposit that arrived yesterday is not being reflected in my available balance. Wonder what they even spent all that time on.

You will have to wait for up to two days for your deposit to show in your balance.

https://blog.kraken.com/post/1449/

Funding

Withdrawals are now disabled and will remain disabled for a minimum of 12 hours (during this time we will be monitoring the new system for anomalies)

For fiat or crypto deposits (initiated before, during or following the downtime) please allow up to 2 additional business days for funds to be credited

That's provided they don't go offline again.

The site will come down if needed, which may occur with little to no notice. Please continue to refer to status.kraken.com for real-time updates and important announcements over the next few days.

[lightfoot]

Does Roach just get his posts from some sort of random bullshit generator?

I'm not sure. He keeps saying the same thing "This user is currently ignored."

Ok, that was funny as hell.

In Bitcoin land, looks like we're back in the 14k's again, which is nice. Koreans didn't tank bitcoin.

[flynn]

Fear me ! I am the Kraken !

[luckygenough56]

that weird feeling when your kraken order instantly executes as it should be  

[MelMan2002]

that weird feeling when your kraken order instantly executes as it should be  

It's...it's...unnatural!

[Dabs]

Why do you guys keep using kraken .... uh .... maybe a dumb question, but needs to be asked. I'll try to answer: there's no other exchange you can use?

[luckygenough56]

Why do you guys keep using kraken .... uh .... maybe a dumb question, but needs to be asked. I'll try to answer: there's no other exchange you can use?

all exchanges suck in their own ways

bitfinex = nope
bitstamp = nope
binance = no fiat
....

[Dabs]

You can still use exchanges in other countries that allow withdrawals through international wire transfers... I've actually tried stamp and quad. And I'm all the way in Asia.

[Dakustaking76]

Oke guys is iT for real ore is iT Just a dream
Kraken says btc hitted 20.000€??
 


IT Will hit 20k euro again Ofcourse

[cAPSLOCK]

Guys, use Bitstamp for smaller transactions. I funded stamp with 1 btc and have sent numerous transactions (avg size is about 50 usd) with no fee at all. They batch their transactions so its free for you and almost free for them aswell, win - win.

Basically a proto lightning network.

[xhomerx10]

BTG is gettin a little pump. .02 now on bittrex. I'm dreaming of .05

Speaking of, is there a reliable way to extract them from old coins?

Coinomi app wallet is 0retty simple and secure, if you move your btc first.

Tried that with bcash, didn't work. Had to use a btc.com wallet to extract those. Possibly because it was from a pretty old electrum wallet? I know they changed format once or twice.

It You need to recover from seed use bither app. You can also claim bcd and sbtc with it.
If you have problems pm me and I will be glad to help you

Edit: if your old private keys didn't worked in coinomi, your problem is probably related to compressed/uncompressed format, you can convert the format using bitaddress.org.

During the early fork days I helped out a lot of people, I become some kind of expert xd

Alright, got bither running (on a spare phone). Set up a wallet and tried to scan my private keys from electrum, but apparently they are not in bip38 format? What do?

Are they unencrypted?
If Yes, just click "wallet details" in bitaddress.org (better use it offline, the github source for download is linked on the site itself) and use their tool to convert them


EDIT: Before messing with this, try the other import priv key (not bip38) option!

I tried the other option, but it just demands a password (which is not what I set for the wallet) and doesn't move on from there.

 Not your Electrum wallet password but the Bither password.
If you have nothing in Bither, uninstall, reinstall and remember your password this time.  It works.

It's not my bither wallet password it wants, it's something else.

 No it isn't something else.  You have to enter the Bither wallet password to import the private keys.  

And when I do that it doesn't accept it. Yes it's the correct password, it is very simple and memorable. It asked for it before I had even set a password as well.

 Are trying to scan the QRcode for your electrum wallet seed?  Don't do that.
You have to view your addresses in Electrum, right click on them and view each one's private key separately.  Open the QRcode for it and scan it with the Bither wallet using the advanced options and
 then Import Private Key and then select From Private Key Text and scan it in.
 

That worked. Now to scan them all and see if there is any gold to dig up... Should I import the compressed or uncompressed address?

 Probably uncompressed but make sure the address you select matches the Bitcoin address you scanned the private key's QRcode for and you'll be fine.

Compressed corresponds to the public key. Uncompressed doesn't correspond to the public or private key.

 If the private key begins with K or L then use compressed.  If it begins with 5, use uncompressed.

Edit.  I just realized you said compressed corresponds to the public key - that's the one to use.
Sorry, I'm playing with Kraken as well and I think they just enabled trading again.

Alright, imported the priv keys from a wallet that used to hold about 10 btc but it only shows about 3 btg as getable. Weird, but at least it's something. Thanks guys, gonna keep playing with this.

One final question, I only need to import the keys that have >0 tx right?

 That's correct.

edit: Quite a wall of text we got going...  People are going to confuse us with JJG