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

[philipma1957]

I firmly believe someone is purposely manipulating the fees to send Bitcoin and is causing the client to estimate wrong as fuck.

Right now, my client is saying that a 60 minute send is priced the same as a 7-day send... Yesterday we hit a solid number of blocks that reduced the txid's, but still... the next block, 97,000 transactions.  

I'm calling bullshit.  Someone is putting bullshit traffic on the highway but charging $$ for the express lane basically.

Yeah I have a sticky thread that gives some explanation as to how it is done.

https://bitcointalk.org/index.php?topic=2634505.0


It is old from 2017

and I should update it as I could list many more ways big pools can do this.

It is the major reason I don't agree with BTC maximinalist's theory of coins.

I deleted that comment because Bitcoin functionality isn't really related to the price, but thank you for the link.

I'll read it for sure.

I look at this from a different viewpoint then most on the thread.

Now every Oct 15th China rainy season ends.  

Power goes from 2-3 cents to 4-6 cents.

Gear turns off ,so big Chinese players try to  max pump the  diff one jump early which they did as oct 17 jump was to all time high.

19.997. Now turn off all your shit gear from OCT 17 to OCT 31

and guess what happened blocks drop from 144-150 a day to 122 a day this makes blocks 22% slower and jacks fees.

Next flood lots of low fee whitelisted transactions.  Ie send 0.0001 pay 0.000001 send it to your own addresses white list on a pool that does not give out tx fee money.

So your big pool (ant pool) grabs the shit fees it sent out and it grabs high fees from normal non-whitelisted people.

In three days when jump happens the blocks will go to 144-150 and problem will end.

No matter how much people may only want BTC and not other coins they can't stop fee manipulation like I am describing .

Bitmain also does this to force other coins to exist.  I can send 2,000,000 doge for 2 doge and you get it in under 10 minutes

Do I like this no. I also don't like aging and dying.

  But I am pretty much powerless to stop the fee tricks done by big pools.
Just like I can't stop aging and dying process.
Or sun rising and setting.

[1714873823]

1714873823

[1714873823]

1714873823

[1714873823]

1714873823

[1714873823]

1714873823

[cAPSLOCK]

Bitcoin killin' it

Bitcoin Cash being killed (0.0189)

Lovin' it!

Are you referring to bcash...

Seems misleading to use the word bitcoin to refer to projects that are not tied to bitcoin... of course, we could say bitcoin lightning or bitcoin liquid or use the term "bitcoin" to refer to some project that is specifically pegged to bitcoin.

There is a project out there called bcash sv, and there are a lot of people who like to refer to that project with the name bitcoin contained therein, which is quite misleading, too... by the way, where has been our lil buddy, jbreher, one of the bcash sv proponents who has been lecturing us upon the inevitable blockalypse coming to bitcoin and his proclamations that bcash sv might be able to play a role in rescuing bitcoin from such hypothesized calamities?


 a wwwwweeeeeee   lil reckt picnic bear?

 

Don't go away.. we likie uie so muchie... especially if you would admit that you are and were wrong.. which does NOT seem to be too likely to happening.   

Well we are certainly standing on the threshold of the doorway that either makes his claims valid or dashes them. The fee market is lit up like a XMAS tree and the mining death spiral(tm) is going strong.

This is the moment the big blockers have been waiting for.

So...

[Biodom]

So far I was able to send tx only when I wanted for, at most 30c (7-8sats/byte) or so.
However, soon I would have to send a payment and if it is $15 (as it is currently projected), it would be somewhat annoying.
Now, picture the "enthusiasm" at 30K btc and imagine a fee then.
I am somewhat bewildered that almost nothing was done to alleviate this in 2017-2020 except a slow LN rollout.
It is entirely possible that paying with "onchain" btc will soon be a fools errand (for $100 size tx).
Maybe this is what Paypal aims at.
One component is missing, though, which is the ability to "fund' your paypal account with pre-existing btc.
I am not sure what I will use in the future, LN, paypal, Strike, etc, but i sure as heck would not be paying $15/tx, hopefully, unless btc moves into "state savings" domain and is at $1mil/btc or above.

[cAPSLOCK]

So far I was able to send tx only when I wanted for, at most 30c (7-8sats/byte) or so.
However, soon I would have to send a payment and if it is $15 (as it is currently projected), it would be somewhat annoying.
Now, picture the "enthusiasm" at 30K btc and imagine a fee then.
I am somewhat bewildered that almost nothing was done to alleviate this in 2017-2020 except a slow LN rollout.
It is entirely possible that paying with "onchain" btc will soon be a fools errand (for $100 size tx).
Maybe this is what Paypal aims at.
One component is missing, though, which is the ability to "fund' your paypal account with pre-existing btc.
I am not sure what I will use in the future, LN, paypal, Strike, etc, but i sure as heck would not be paying $15/tx, hopefully, unless btc moves into "state savings" domain and is at $1mil/btc or above.

As has been said so often... For Bitcoin to remain trust minimized there is no choice but for fees to rise.

This either breaks Bitcoin, or the market finds a way around the issue.  Second layers are appearing... LN, Liquid, and trusted bitcoin "banks" like Square.

Rubber meet road.

[Toxic2040]

Happy Samhain one and all

Blessed be

-----


#dyor
1h


4h

#làmhan làidir

[FullNode]

What industry leaders would wish for Bitcoin’s white paper 12th anniversary
While the crypto community decides whether Bitcoin (BTC) was born — or merely conceived — 12 years ago, the fact is that Oct. 31, 2008, remains one of the most notable dates in humanity’s modern history. Exactly 12 years ago, Satoshi Nakamoto published what some have described as “a new bible” — Bitcoin’s white paper. Designed as a brand new “purely peer-to-peer version of electronic cash,” many see the creation of Bitcoin as a response to a global financial crisis.

https://cointelegraph.com/news/what-industry-leaders-would-wish-for-bitcoin-s-white-paper-12th-anniversary

[Karartma1]

I see a few Sean Connery's fans around here.
Xhomerx, why don't you create a nice commemorative hat for our departed friend?

I have already said happy bitcoin whitepaper but I did not say

GO BTC GO

How does it feel like?
I still don't believe it   I'm holding onto my dreams now. Thank you Satoshi.

Quoting it for my kids...

[JayJuanGee]

I mean if you got like those guys the 'majority' of your coin on a CPU at less than a buck..well..

$64 looked pretty insane.. I think BTC was already like $11 bucks in Jan of 2013 as well. So that is my 'guess' of a cracking point...once the 'weak hands' lets call

it that, were to wash out..then my 'guess' would be you might not see such again till 80k or 100k Bitcoin. But much 'wrestling' with the fact with these 'whales'

back in 2013..the 'insane' pump in Bitcoin Price and it had to be a bubble. I just see the stressors now as the same at about 18K and 20K...hell, damn, I'm will

be tempted as such, and I'm retired and NOT living on my crypto anymore (unlike when I retired in Jan 2018) ..thus...I can imagine pressures of job/wife/money

here 7 years later with that kinda growth..getting to anyone.

hey ive done several main cashouts over the years for various reasons. and the biggest was after the 20k ath i hodled through. so hodl through 20k, then sell for around 10k ish average later.

smart, yes?

Not smart.  hahahahaaha

 

but at 20k i didnt need any more fiat. later things changed and a better plan developed so i cashed out at whatever price i could get, within reason. if the price was really bad i would of just waited but 10k was reasonable enough. my cost basis is ridiculous so for 10k a coin vs 20k a coin, my viewpoint is likely different than others.

Actually, on a personal level, I believe that the status that each of us should aspire to achieve would be largely minimum calculation of the then current BTC price at the time of our cashing out whatever amounts of dollar value of BTC that we then needed for whatever happens to be our reason(s).  Of course, if there are relatively obvious BTC price movements, such as a seemingly short-term dip or a seemingly short term spike then we might choose to cash out more or faster during a spike and less and slower during a dip.

Probably part of achieving fuck you status would be hardly giving any shits about the BTC price when making such choices of incremental cashenings of lily fiend.

Some time around early 2018, I tentatively decided that long term sub $5k was my NOT cashening out threshold.. and it is starting to seem quite likely that we are not going to have to worry about sub $5k BTC prices any longer... so largely, vapourminer, I may be entering into a kind of similar status as you in terms of my NOT really giving too many shits about whatever happens to be the current price - except to the extent that there might be extreme and obvious scenarios of seemingly short-term BTC price movements.

Actually, in recent times, I have been trying to increase some of my spending in order that I might start to enter into a kind of threshold arena that I might need to dip into portions of my BTC.  The fact of the matter remains that I have lived pretty prudently for so long in my life (meaning living within my means and making sure that I always have a decent cash cushion that involves some kinds of investments and savings, so merely spending rather than investing or saving portions of my cashflow results in increases in my standard of living without ven haing to dip into my BTC stash (or my cash balances that are already largely dedicated to BTC).

i always figured to cash out some amount every several years. enough so i wont be pressured to sell or worry about things no matter what honey badger does. as i still consider the (very small now) odds of bitcoin crashing bigly to be non zero.

For sure, either a downward deathspiral scenario (that might not quite go to zero) and/or an actual going to zero scenario are becoming way less and less within any realm of reasonable BTC price trajectories... So I am still thinking that the 208-week moving average serves as a very decent and reasonable assessment of extreme BTC price bottoms, and currently as I type, such 208-week moving average is touching on $6,800.   No guarantees, of course.. but seemingly a reasonable way of assessing BTC value and accounting for more likely scenarios (including likely extreme BTC price bottoms). 

[JayJuanGee]

I just received an sms to my German phone number with my correct name. Sender name was Ledger. They are telling me to update my ledger firmware due to serious vulnerability. Link is de-ledger dot Com

I know it's scam. Just googled it. But its worrying they know my real name, surename, phone number and that I own an ledger! My coins were on a paper wallet for 6 years and never had issues. Now moved them to the ledger to claim forks and get these kind of messages.

Yeah.. I think that this is showing that scammers can try to take advantage of data leaks that occurred earlier.... so yeah, they are skimming the information that they had obtained in order to contact those people (including you) with the objective of reeling in gullible folks... they are likely to obtain the seed phrases through the cooperation of some gullible folks through this "reaching out" process.

[VB1001]

https://i.imgur.com/cfChYGT.jpg

Tonight I'm going to sell my soul to the witch.
I wish you all a happy Halloween night.
Take care

[OutOfMemory]

I just received an sms to my German phone number with my correct name. Sender name was Ledger. They are telling me to update my ledger firmware due to serious vulnerability. Link is de-ledger dot Com

I know it's scam. Just googled it. But its worrying they know my real name, surename, phone number and that I own an ledger! My coins were on a paper wallet for 6 years and never had issues. Now moved them to the ledger to claim forks and get these kind of messages.

Yeah.. I think that this is showing that scammers can try to take advantage of data leaks that occurred earlier.... so yeah, they are skimming the information that they had obtained in order to contact those people (including you) with the objective of reeling in gullible folks... they are likely to obtain the seed phrases through the cooperation of some gullible folks through this "reaching out" process.

Though, Ledger claimed to have informed the customers whose data was stolen/leaked.
Two options: Ledger isn't aware of all leaked data OR they didn't contact everybody.
I would write Ledger support a little note, since they also (i believe) had some datasets with address details stolen with customer data from their e-commerce servers.

Why do those fucktards even keep customer data on public servers using third party e-commerce software, anyway? 

[JayJuanGee]

.....


best streak of over $ 12584 is 41 days.

....

So we are at 10 and need to pass 41 days that is a while off.

Surely will be interesting to find out if we are going to be able to experience 31 more days at BTC daily wighted prices of $12,584 or more (or would 32 more days be needed to break such streak?).

Anyway... I will no longer respond to PayPal poo-pooing because even I am getting annoyed at myself.

#metoo

hahahaahaha

 

Bitcoin killin' it

Bitcoin Cash being killed (0.0189)

Lovin' it!

Are you referring to bcash...

Seems misleading to use the word bitcoin to refer to projects that are not tied to bitcoin... of course, we could say bitcoin lightning or bitcoin liquid or use the term "bitcoin" to refer to some project that is specifically pegged to bitcoin.

There is a project out there called bcash sv, and there are a lot of people who like to refer to that project with the name bitcoin contained therein, which is quite misleading, too... by the way, where has been our lil buddy, jbreher, one of the bcash sv proponents who has been lecturing us upon the inevitable blockalypse coming to bitcoin and his proclamations that bcash sv might be able to play a role in rescuing bitcoin from such hypothesized calamities?


 a wwwwweeeeeee   lil reckt picnic bear?

 

Don't go away.. we likie uie so muchie... especially if you would admit that you are and were wrong.. which does NOT seem to be too likely to happening.   

Well we are certainly standing on the threshold of the doorway that either makes his claims valid or dashes them. The fee market is lit up like a XMAS tree and the mining death spiral(tm) is going strong.

This is the moment the big blockers have been waiting for.

So...

I cannot really disagree with anything you said here, cAPSLOCK - even though you seem to be giving arguably positive press to scammer/shitcoiners

[hisslyness]

So far I was able to send tx only when I wanted for, at most 30c (7-8sats/byte) or so.
However, soon I would have to send a payment and if it is $15 (as it is currently projected), it would be somewhat annoying.
Now, picture the "enthusiasm" at 30K btc and imagine a fee then.
I am somewhat bewildered that almost nothing was done to alleviate this in 2017-2020 except a slow LN rollout.
It is entirely possible that paying with "onchain" btc will soon be a fools errand (for $100 size tx).
Maybe this is what Paypal aims at.
One component is missing, though, which is the ability to "fund' your paypal account with pre-existing btc.
I am not sure what I will use in the future, LN, paypal, Strike, etc, but i sure as heck would not be paying $15/tx, hopefully, unless btc moves into "state savings" domain and is at $1mil/btc or above.

if the 30K BTC is a single input. No difference to 0.3BTC on a single input. fees will be the same...

Sucks LN isn't making a bigger impact that we had hoped for. Can already hear the big block supporters in the background!

Side Note: 127,668 unconfirmed transactions

Maybe it is time to fire up the S13 again!

[Hueristic]

https://i.imgur.com/cfChYGT.jpg

Tonight I'm going to sell my soul to the witch.
I wish you all a happy Halloween night.
Take care

Grossly photoshopped.

[icopress]

It's no coincidence that Satoshi published the White Paper before Halloween 12 years ago. ^{The Cypherpunks movement is alive!}

[BobLawblaw]

I'm forcing Rick to retire within the next 60 days, ergo, Bitcoin is going to moon to a new ATH.

Quote me.

[Arriemoller]

I'm forcing Rick to retire within the next 60 days, ergo, Bitcoin is going to moon to a new ATH.

Quote me.

Quoted.

[Biodom]

So far I was able to send tx only when I wanted for, at most 30c (7-8sats/byte) or so.
However, soon I would have to send a payment and if it is $15 (as it is currently projected), it would be somewhat annoying.
Now, picture the "enthusiasm" at 30K btc and imagine a fee then.
I am somewhat bewildered that almost nothing was done to alleviate this in 2017-2020 except a slow LN rollout.
It is entirely possible that paying with "onchain" btc will soon be a fools errand (for $100 size tx).
Maybe this is what Paypal aims at.
One component is missing, though, which is the ability to "fund' your paypal account with pre-existing btc.
I am not sure what I will use in the future, LN, paypal, Strike, etc, but i sure as heck would not be paying $15/tx, hopefully, unless btc moves into "state savings" domain and is at $1mil/btc or above.

if the 30K BTC is a single input. No difference to 0.3BTC on a single input. fees will be the same...

Sucks LN isn't making a bigger impact that we had hoped for. Can already hear the big block supporters in the background!

Side Note: 127,668 unconfirmed transactions

Maybe it is time to fire up the S13 again!

This is kind of obvious...
My point was not a number of bytes, but the "enthusiam" that would be there at 30K and above.
If 100mil people will try to squeeze their tx into available blocks, fees might go even higher.
Say, at $1000/tx only Saylor size tx are reasonable.

To commemorate Saylor's tx size, maybe we should get a 1Sr (or Say) at 17.5K btc, then 1millisay=17.5btc, 1 microsay=0.0175btc (currently worthabout $241), 1nanoSay=0.0000175 btc (currently a quarter worth). Or, perhaps make nanoSay or 10 nanoSay a Say (basic unit), currently worth either 0.25 or 2.5.
Then, pay with Says instead of small fractions of btc or large number (currently) of sats.

[Biodom]

I'm forcing Rick to retire within the next 60 days, ergo, Bitcoin is going to moon to a new ATH.

Quote me.

Quoted.

Do ghay people have headache excuses? I am curious.

[BobLawblaw]

Do ghay people have headache excuses? I am curious.

"I'm tired."