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

[JayJuanGee]

At this point, who fucking cares?

Quit moving the fucking goalposts.

I am not moving the goalposts.  Segwit passed and became a part of bitcoin in August 2017.  You are the one who seems to be suggesting that something might need to be done about that or that you are complaining about something that the blocks are not big enough that relate to issues from 2017.. .. so my who fucking cares should suggest to you that you have some kind of burden to show facts and logic for it to be relevant.  

Of course, I am not the only person here, so I may conclude that you have not provided sufficient facts and logic to be persuasive, but others might come to differing conclusions. But

You ask a question and when answered, you go off on another fucking tangent and act like you've made an excellent counter when you're just being a dick. If you don't care, stop replying. It's really that easy.

It seems to me that I brought up a whole lot of good points regarding various burdens that are on you to show that there is some kind of issue or problem with bitcoin that needs to be fixed, which to me it seems that you have not done that, but maybe others are going to be persuaded by what I believe to be your ongoing nonsense.

Regarding my choice to respond, I will consider whether to respond or not, and at this point, I cannot think of anything more to say without being more repetitive than I already have been.  Accordingly, it seems to me that the ball is in your court, rather than in mine.. but whatever... you do you.  #nohomo

Man. Block confirmation times are so fucking wonky right now.

I put in a tx about 5 hours ago, set my sat/byte 3 sats above the recommended, and it still hasn't confirmed.

I've been watching it on the mempool observer. It's been above the 1 MB line every single block and still hasn't been confirmed.

All the while the mempool is falling. Its like everybody is avoiding my TX or something.

I'm ready to try something drastic like switch to big blocks.

Well OK maybe that sounds a bit crazy but somebody needs to get me the manager.

Maybe you should switch over to Bcash or Bcash SV.  I heard that their transactions are going through without any problems.  There might be some other shitcoins that you could also use that might meet your various transacting needs within the timeline that you would like and for the fees that you would like to pay.

 Perhaps? perhaps?


In the mean time, number go up?  Wen?

[1715325227]

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[1715325227]

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[1715325227]

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[nutildah]

Maybe you should switch over to Bcash or Bcash SV.  I heard that their transactions are going through without any problems.  There might be some other shitcoins that you could also use that might meet your various transacting needs within the timeline that you would like and for the fees that you would like to pay.

5 hours Jay.

Bitcoin is only a store of value because it can be used as a currency.

And a block did happen between my posts, still unconfirmed.

Its your fault.

[LoyceV]

CPB-directeur: Nederland moet bitcoin en andere cryptovaluta verbieden
The director of the Dutch Bureau for Economic Policy Analysis wants his 5 minutes of fame, saying government should ban Bitcoin and other crypto coins, because a crash is inevitable. Then he comes with the argument that the product has no intrinsic value. I guess the Euro will be banned first?
Meanwhile, I'm being taxed in the Netherlands just for owning Bitcoin.

I know one thing: if governments are afraid, Bitcoin is on the right track!

[ChartBuddy]

Explanation

[vroom]

so, here we are again, discussing block size while the next big bitcoin upgrade is just 140 signaling blocks away.

[JayJuanGee]

Maybe you should switch over to Bcash or Bcash SV.  I heard that their transactions are going through without any problems.  There might be some other shitcoins that you could also use that might meet your various transacting needs within the timeline that you would like and for the fees that you would like to pay.

5 hours Jay.

Bitcoin is only a store of value because it can be used as a currency.

And a block did happen between my posts, still unconfirmed.

Its your fault.

I feel so bad for all the troubles that you are having with the king daddy, nutildah - especially since you are seeming to be splurging with your payment amounts, too.  

I wonder if your wallet is not very good at fee recommendations, or maybe you are using a fee recommendation service that is not very good at predicting what reasonable fees should be?  Have you used such fee recommendation services in the past?

Can we really blame either king daddy, or lil ole me for your transaction NOT going through as quickly as you would have preferred?

From your response, I take it that you do not want to switch to some other kind of coin?  

Have you concluded that you are using king daddy for the right kinds of transactions or the goals that you are trying to achieve? Or are you thinking that you have gone above and beyond with your extra 3 sats per byte in order to get prompt receipt of your funds into the receiving address?

I am thinking that hopefully, you can just make one last transaction and just get all your coins out of this nightmare in order that you don't have to deal with this stressful situation no more.  What do you think?  

What other options are there? Does the wallet that you are using /or the fee recommendation service have a customer service?  I am pretty sure that bitcoin does not have one, and I don't really feel qualified in that direction, but maybe I can talk with you and make you feel better about your decision to invest into bitcoin for other reasons..? or I could help you create a spreadsheet?  Maybe?

Like you suggested, this store of value concept just might not fly for some people because what good is going to come from something like having all your bitcoin value sitting there and storing such value in bitcoin, but then when it comes time to send such stored value bitcoin somewhere or to cash out in order to realize such stored value, the sending or cashening outening does not workening.  That would really suck, especially if were to need it quickly.. like in less than 5 hours.  amiNOTrite?

Maybe bitcoin is just broken.. completely broken, and it probably sucks for me too, since I have quite a bit of value in dee king daddy, relatively speaking?  

I am not sure whether I should panic at this moment, or maybe just sleep on it?  

The vast majority of the time when I have done my various transactions they have gone through without any meaningful issues.. sure sometimes they take longer than expected.. but hey.. maybe this time is different?  Perhaps?  Maybe transactions are not going to go through no more, even with a 3 sats per byte extra (like a tip)?

I am starting to run out of ideas, besides just crying.  Maybe someone else has some suggestions?

so, here we are again, discussing block size while the next big bitcoin upgrade is just 140 signaling blocks away.

Should we just ignore the BIG blocker blokes?

[DaRude]

but you can now buy a used small form factor like a dell for 200 bucks.

toss in 32gb ram.

a 2 tb ssd and probably go up to a 4 mb block. as long as you have at least 100mbs internet.

beyond that block size you need more power and faster internet.

but a pc with 128gb ram

 i7 core

4tb ssd and 200mbs internet

starts to become costly.

That first PC is already plenty beefy. Pruning can reduce the storage requirements and UTXO checkpoints (if added) even moreso It's pretty much the specs of my VR rig (not including the GPU). If you want a record of every transaction on the chain, even spent ones, you'd need extra storage but that's niche for most people and not horribly expensive if you do.

Surely you don't think that fees will fall linearly 4x with 4mb blocks right? So how many minutes do you think it'll be, before 4mb blocks get back jammed with 1sat/byte transactions? And that will be the point where people will start making fun of you for trying to run a global currency network on such crappy low end PC. And now clearly you need to upgrade to at least 64gb ram and a 4tb ssd for 8mb blocks. And just few minutes after that will come a need for 8mb blocks with a mid tower, then 16mb, then 32mb with a high end server etc etc etc ...?

So the trade of is, you wipe out Pie nodes while ... achieving absolutely nothing  (or at max managed to drop the fees 25% for few months)

In any case, bitcoin is going the way of an El Salvadorian fisherman with an LN channel on a Pie node transacting his business for fraction of a cent. Surely this is not the end stage and there's plenty that still will need to be improved, but this is a best solution so far, if you think a global currency can keep every transaction on layer one while maintaining decentralization you're delusional.

[modrobert]

Good morning (in spirit, regardless of time zone).



I don't like the look of that last spike, might not mean people are moving wallet BTC to short on exchange, but something is up.

EDIT:

Hmm, perhaps moving BTC back from exchange to wallet, trading is over? That would be great.

[ChartBuddy]

Explanation

[NeuroticFish]

I don't like the look of that last spike, might not mean people are moving wallet BTC to short on exchange, but something is up.

The price is moving, people started transacting again and.. the hash rate was falling yesterday by quite a lot.

[Wekkel]

CPB-directeur: Nederland moet bitcoin en andere cryptovaluta verbieden
The director of the Dutch Bureau for Economic Policy Analysis wants his 5 minutes of fame, saying government should ban Bitcoin and other crypto coins, because a crash is inevitable. Then he comes with the argument that the product has no intrinsic value. I guess the Euro will be banned first?
Meanwhile, I'm being taxed in the Netherlands just for owning Bitcoin.

I know one thing: if governments are afraid, Bitcoin is on the right track!

The guy seems clueless. If a 'price crash' is a reason to forbid it, you should forbid the financial markets 

I wonder whether 'official inflation numbers' that the Dutch Bureau for Economic Policy Analysis deals with, have any intrinsic value 

[modrobert]

I don't like the look of that last spike, might not mean people are moving wallet BTC to short on exchange, but something is up.

The price is moving, people started transacting again and.. the hash rate was falling yesterday by quite a lot.

Ah, yes, miners are having problems, and waiting for lower difficulty settling in.

[hisslyness]

Didn’t the Big Blockers win, I am sure they did,  Bitcoin Cash?  

[hisslyness]

so, here we are again, discussing block size while the next big bitcoin upgrade is just 140 signaling blocks away.

Will this mean we will see more DeFi shit on Bitcoin Blockchain…

[LFC_Bitcoin]

I don't like the look of that last spike, might not mean people are moving wallet BTC to short on exchange, but something is up.

The price is moving, people started transacting again and.. the hash rate was falling yesterday by quite a lot.

Ah, yes, miners are having problems, and waiting for lower difficulty settling in.

It’s because several Chinese provinces have told miners to cease mining. They are turning off machines & ready to relocate.

[modrobert]

I don't like the look of that last spike, might not mean people are moving wallet BTC to short on exchange, but something is up.

The price is moving, people started transacting again and.. the hash rate was falling yesterday by quite a lot.

Ah, yes, miners are having problems, and waiting for lower difficulty settling in.

It’s because several Chinese provinces have told miners to cease mining. They are turning off machines & ready to relocate.

Does this include the big miners using their own hydropower installations? If so, seems like a stupid decision.

[LFC_Bitcoin]

I don't like the look of that last spike, might not mean people are moving wallet BTC to short on exchange, but something is up.

The price is moving, people started transacting again and.. the hash rate was falling yesterday by quite a lot.

Ah, yes, miners are having problems, and waiting for lower difficulty settling in.

It’s because several Chinese provinces have told miners to cease mining. They are turning off machines & ready to relocate.

Does this include the big miners using their own hydropower installations? If so, seems like a stupid decision.

https://www.google.co.uk/amp/s/amp.scmp.com/tech/policy/article/3136780/chinas-bitcoin-crackdown-pushes-miners-out-xinjiang-qinghai-baidu-and

[ChartBuddy]

Explanation

[modrobert]

I don't like the look of that last spike, might not mean people are moving wallet BTC to short on exchange, but something is up.

The price is moving, people started transacting again and.. the hash rate was falling yesterday by quite a lot.

Ah, yes, miners are having problems, and waiting for lower difficulty settling in.

It’s because several Chinese provinces have told miners to cease mining. They are turning off machines & ready to relocate.

Does this include the big miners using their own hydropower installations? If so, seems like a stupid decision.

https://www.google.co.uk/amp/s/amp.scmp.com/tech/policy/article/3136780/chinas-bitcoin-crackdown-pushes-miners-out-xinjiang-qinghai-baidu-and

Another political bullshit spin on the news using "crackdown" and similar terms, showing handcuffs in video and talking about PCs illegally mining on graphic cards which rules out Bitcoin completely.

What I mean are Bitcoin mining facilities with their own hydropower (water power) installations using small river as energy source as part of the land they own or lease, like this one:
https://www.aljazeera.com/gallery/2018/1/17/inside-the-world-of-chinese-bitcoin-mining

No one is stealing energy when they generate their own power (or build mining facility close to existing hydropower plant with contract to mine energy overproduction), and shutting down just means the river continues to flow through the plant without turbine, no environmental gain.

[ChartBuddy]

Explanation