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

[El duderino_]

Happy Halving! Next goal:  $1 million / BTC !

Goal by goal

first things first

A solid ATH...

Then 100 k Chopper

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[philipma1957]

We are up about 7.30X since the last halving on may 11, 2020 or 730% in 1439 days or 0.1385%/day or 65.7% a year.
Not bad, lol

65.7% a year means 482469.65 on 2028

I will sign on for that.

[OutOfMemory]

Dude had weak hands , listened to Masterluc and sold expecting to get back in later that never came.

https://www.reddit.com/r/TerrifyingAsFuck/comments/1c84lyv/man_just_set_himself_on_fire_outside_of_the_trump/



https://theponzipapers.substack.com/p/i-have-set-myself-on-fire-outside

Dude, what a crazy read. The last few lines tell it all: Days of no sleep... Poor guy fell into the conspiracy-theory trap hole and went insane.
Our biggest enemy is our own mind.

Slept over the halving   No party, this time  

[LoyceV]

What's the opinion on Bitcoin transaction fees here? I'd say Bitcoin is broken if any UTXO under 0.001 BTC isn't even enough to pay for it's own transaction fee.

Blocks now have a 3.125 BTC block reward and 10 BTC transaction fees. And as the above image shows: only a few percent is used by normal Bitcoin users with normal transactions. Spammers literally pay 4 million dollars per hour now to create meaningless Bitcoin dust.

See mempool.space for Mempool Goggles, and click Data to see only the "Ordinal" spam.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[BlackHatCoiner]

What's the opinion on Bitcoin transaction fees here? I'd say Bitcoin is broken if any UTXO under 0.001 BTC isn't even enough to pay for it's own transaction fee.

[OutOfMemory]

What's the opinion on Bitcoin transaction fees here? I'd say Bitcoin is broken if any UTXO under 0.001 BTC isn't even enough to pay for it's own transaction fee.

My opinion is that Ordinals were just a useless addition to Bitcoin. Maybe the chain should be split in a Core and an Ordinals variant, maybe with higher blocksize limit on the latter, to satisfy those blockwar-morons? IDK, but i wish inclusion of Ordinals would be rolled back ASAP. Who needs another sea of NFT's anyway?
I wish developers and individuals voting for BIPs would take a more cautious approach to add bitcoin functionality. It's not that hard. Just try to keep an eye on possible unwanted effects and outcomes of software "solutions" to problems or added functionality and address them before actually changing any code.
This type of thinking was the reason why i was hated by most collegues and even some of my bosses ("destroying" their "great" visions through factual criticism), and successful at the same time (through my own contributions and working alternatives to their "great" solutions) when i was working in the IT industry, back then.
Maybe Ordinals were orginally intended to break Bitcoin, who knows? I don't have enough background information on this branch/feature, so this is pure hollywood scriptbook thinking of mine. But, with an eye on NFTs and the presence of Bitcoin's slow transaction rate and limited block size, it would result in a nice attack vector to include the possibility to spam blocks, tainted as functionality.

Anyway, i was unhappy with the Ordinals idea as soon as i read about it the first time. This block spam confirmed my worries.

EDIT: And the whole drama with fees does have a touch of Ethereum to it, in regard to your original question, dunnit?

[somac.]

I thought the fees would have come down a bit more by now but let's see how economical it is for these spammers to keep it up. Everytime this has happened before fees have come back down to reasonable levels, I don't think it will be different this time.

What I do know though is that I will not be transacting on the network while this keeps up.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[bitcoinPsycho]

Price to follow 

[Amphenomenon]

This is my first post at WO, after my first halving, Thank God for life  

Now for the big question

When is the dip coming

My colleague and I were really excited that we're going to buy the dip but now what we see sadden us while the sudden rise in fee is discouraging though it's getting better probably before the end of the day it will be normal

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[somac.]

This is my first post at WO, after my first halving, Thank God for life  

Now for the big question

When is the dip coming

My colleague and I were really excited that we're going to buy the dip but now what we see sadden us while the sudden rise in fee is discouraging though it's getting better probably before the end of the day it will be normal

Will be multiple days before the fee is back to normal I think

[Amphenomenon]

This is my first post at WO, after my first halving, Thank God for life  

Now for the big question

When is the dip coming

My colleague and I were really excited that we're going to buy the dip but now what we see sadden us while the sudden rise in fee is discouraging though it's getting better probably before the end of the day it will be normal

Will be multiple days before the fee is back to normal I think

Yes but the fee we been having since like the past week, we probably will still get it later today

[philipma1957]

I thought the fees would have come down a bit more by now but let's see how economical it is for these spammers to keep it up. Everytime this has happened before fees have come back down to reasonable levels, I don't think it will be different this time.

What I do know though is that I will not be transacting on the network while this keeps up.

fees will stay high from now on.

btw if a fee is 20 cents for a 3 dollar spend I would say that's too high


the bit coin maxers will be forced into scrypt for small sends.

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com

[criptoevangelista]

The fees are very high, I read that it is because of the launch of something called RUNE, (I don't know what it is about)... but I will probably have to accumulate some BTC from DCA on an exchange before withdrawing... unfortunately. I hope things get back to normal soon.

Does anyone have any alternative to this, of keeping some BTC in an exchange for a while? before withdrawing to the wallet? I don't think there's much to do except wait

[OutOfMemory]

The fees are very high, I read that it is because of the launch of something called RUNE, (I don't know what it is about)... but I will probably have to accumulate some BTC from DCA on an exchange before withdrawing... unfortunately. I hope things get back to normal soon.

Does anyone have any alternative to this, of keeping some BTC in an exchange for a while? before withdrawing to the wallet? I don't think there's much to do except wait

I LMGTFY'ed for y'all:

https://cointelegraph.com/news/runes-protocol-ignite-new-season-bitcoin-after-halving

The Runes token protocol is set to activate when the halving occurs. A battle for block space will begin where players will compete with each other to see who can issue the first tokens and the best token names, followed by a battle to see who can be the first to buy these tokens.

OMFG, hordes of apes competing over block space.
Ordinals must be stopped ASAP  

Additionally, in anticipation of Bitcoin network congestion, some projects are creating solutions to scale trading on the Runes protocol. In the past, a bridge that enabled the exchange of Bitcoin assets on Solana was successful. Now, platforms more aligned with Bitcoin are emerging — such as RuneChain, a Bitcoin layer-2 focused on Runes.

Chain my ass!
*SMH*

[ChartBuddy]

Explanation
Chartbuddy thanks talkimg.com