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

[adamstgBit]

http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

pmg

gaven wnats too distroy bticoin!1

Huh? He is just making a proposal to extend the protocol to allow more transactions per block. Everyone will need new clients to make it work. But where is the destructive effect? Or am I too rational regarding your post?

https://www.youtube.com/watch?v=cZp7UGgBR0I

honestly they made way too big a deal about this...
upping the limit from 1MB pre block to 1.5MB pre block makes shit all difference for mining pools
maybe if it needed to increase it to 100MB or more... this easy fix might need a more elaborate solution...

in my view minor changes like this are welcomed by 99% of the community ( some people just want an excuse to make some noise ), we all want to see bitcoin improve and grow.

Adam:  

I believe you are downplaying the amount of the increase - it is an amazing amount of an increase in practice, maybe even too big and will have to be limited in the future... From my understanding this is how the increase would play out:


Year 1 - 1mg - increased .5mg  = 1.5mg

Year 2 - 1.5mg - increased .75mg  = 2.25mg

Year 3 - 2.25mg - increased 1.125mg  = 3.375mg

Year 4 - 3.375mg - increased 1.6875mg  = 5.0625mg

Year 5 - 5.0625mg - increased 2.53125mg  = 7.59375mg

Year 6 - 7.59375mg - increased 3.796875mg  = 11.390625mg

Year 7 - 11.390625mg - increased 5.6953125mg  = 17.0859375mg

Year 8 - 17.0859375mg - increased 8.542968755mg  = 25.6289063mg

Year 9 - 25.6289063mg - increased 12.8144531mg  = 38.4433594mg

Year 10 - 38.4433594mg - increased 19.2216797mg  = 57.6650391mg

nonsense
the proposal is to MAX it out at 50% a year
not necessarily increase it by that much ever year
even now the block limit isn't much of an issue, and its not like the network would collapse if it was not increased ( would just take longer for unconfirmed TX to get their first confirmation )

there have been times where blocks hit this limit, and we are approaching that time again where it can happen again from time to time, and so we are back to talking about it...

and really ... 50MB's of data every 10 mins, really? mining pools are going to need expensive data centers for that  really???. who cares! look around mining pools already are expensive data centers, discussing this is nonsense, its time to make the call!

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[JayJuanGee]

Adam:  

I believe you are downplaying the amount of the increase - it is an amazing amount of an increase in practice, maybe even too big and will have to be limited in the future... From my understanding this is how the increase would play out:


Year 1 - 1mg - increased .5mg  = 1.5mg

Year 2 - 1.5mg - increased .75mg  = 2.25mg

Year 3 - 2.25mg - increased 1.125mg  = 3.375mg

Year 4 - 3.375mg - increased 1.6875mg  = 5.0625mg

Year 5 - 5.0625mg - increased 2.53125mg  = 7.59375mg

Year 6 - 7.59375mg - increased 3.796875mg  = 11.390625mg

Year 7 - 11.390625mg - increased 5.6953125mg  = 17.0859375mg

Year 8 - 17.0859375mg - increased 8.542968755mg  = 25.6289063mg

Year 9 - 25.6289063mg - increased 12.8144531mg  = 38.4433594mg

Year 10 - 38.4433594mg - increased 19.2216797mg  = 57.6650391mg

Are you ON drugs, or selling them?  it's NOT mg, its MB.  Damn it, back in the pen you go  

      Hopefully, see you in 6 months.... It was nice while it lasted.   

[adamstgBit]

back OT

I can feeeel the pump coming

[JayJuanGee]

http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

pmg

gaven wnats too distroy bticoin!1

Huh? He is just making a proposal to extend the protocol to allow more transactions per block. Everyone will need new clients to make it work. But where is the destructive effect? Or am I too rational regarding your post?

https://www.youtube.com/watch?v=cZp7UGgBR0I

honestly they made way too big a deal about this...
upping the limit from 1MB pre block to 1.5MB pre block makes shit all difference for mining pools
maybe if it needed to increase it to 100MB or more... this easy fix might need a more elaborate solution...

in my view minor changes like this are welcomed by 99% of the community ( some people just want an excuse to make some noise ), we all want to see bitcoin improve and grow.

Adam:  

I believe you are downplaying the amount of the increase - it is an amazing amount of an increase in practice, maybe even too big and will have to be limited in the future... From my understanding this is how the increase would play out:


Year 1 - 1mg - increased .5mg  = 1.5mg

Year 2 - 1.5mg - increased .75mg  = 2.25mg

Year 3 - 2.25mg - increased 1.125mg  = 3.375mg

Year 4 - 3.375mg - increased 1.6875mg  = 5.0625mg

Year 5 - 5.0625mg - increased 2.53125mg  = 7.59375mg

Year 6 - 7.59375mg - increased 3.796875mg  = 11.390625mg

Year 7 - 11.390625mg - increased 5.6953125mg  = 17.0859375mg

Year 8 - 17.0859375mg - increased 8.542968755mg  = 25.6289063mg

Year 9 - 25.6289063mg - increased 12.8144531mg  = 38.4433594mg

Year 10 - 38.4433594mg - increased 19.2216797mg  = 57.6650391mg

nonsense
the proposal is to MAX it out at 50% a year
not necessarily increase it by that much ever year
even now the block limit isn't much of an issue, and its not like the network would collapse if it was not increased ( would just take longer for unconfirmed TX to get their first confirmation )

there have been times where blocks hit this limit, and we are approaching that time again where it can happen again from time to time, and so we are back to talking about it...

and really ... 50MB's of data every 10 mins, really? mining pools are going to need expensive data centers for that  really???. who cares! look around mining pools already are expensive data centers, discussing this is nonsense, its time to make the call!

Maybe I am NOT correct?   What do I know; however,  I am NOT giving up yet on my numbers or my reading because I read in the linked article that it was going to be increased 50% per year (that means each and every year, to me).

Like you said in your earlier version of this post..... Fork it, and I say, unless you agree with my interpretation, Fork all of you!!!!!!       

[adamstgBit]

http://www.coindesk.com/gavin-andresen-bitcoin-hard-fork/?utm_source=twitterfeed&utm_medium=twitter&utm_campaign=Feed%3A+CoinDesk+%28CoinDesk+-+The+Voice+of+Digital+Currency%29

pmg

gaven wnats too distroy bticoin!1

Huh? He is just making a proposal to extend the protocol to allow more transactions per block. Everyone will need new clients to make it work. But where is the destructive effect? Or am I too rational regarding your post?

https://www.youtube.com/watch?v=cZp7UGgBR0I

honestly they made way too big a deal about this...
upping the limit from 1MB pre block to 1.5MB pre block makes shit all difference for mining pools
maybe if it needed to increase it to 100MB or more... this easy fix might need a more elaborate solution...

in my view minor changes like this are welcomed by 99% of the community ( some people just want an excuse to make some noise ), we all want to see bitcoin improve and grow.

Adam:  

I believe you are downplaying the amount of the increase - it is an amazing amount of an increase in practice, maybe even too big and will have to be limited in the future... From my understanding this is how the increase would play out:


Year 1 - 1mg - increased .5mg  = 1.5mg

Year 2 - 1.5mg - increased .75mg  = 2.25mg

Year 3 - 2.25mg - increased 1.125mg  = 3.375mg

Year 4 - 3.375mg - increased 1.6875mg  = 5.0625mg

Year 5 - 5.0625mg - increased 2.53125mg  = 7.59375mg

Year 6 - 7.59375mg - increased 3.796875mg  = 11.390625mg

Year 7 - 11.390625mg - increased 5.6953125mg  = 17.0859375mg

Year 8 - 17.0859375mg - increased 8.542968755mg  = 25.6289063mg

Year 9 - 25.6289063mg - increased 12.8144531mg  = 38.4433594mg

Year 10 - 38.4433594mg - increased 19.2216797mg  = 57.6650391mg

nonsense
the proposal is to MAX it out at 50% a year
not necessarily increase it by that much ever year
even now the block limit isn't much of an issue, and its not like the network would collapse if it was not increased ( would just take longer for unconfirmed TX to get their first confirmation )

there have been times where blocks hit this limit, and we are approaching that time again where it can happen again from time to time, and so we are back to talking about it...

and really ... 50MB's of data every 10 mins, really? mining pools are going to need expensive data centers for that  really???. who cares! look around mining pools already are expensive data centers, discussing this is nonsense, its time to make the call!

Maybe I am NOT correct?   What do I know; however,  I am NOT giving up yet on my numbers or my reading because I read in the linked article that it was going to be increased 50% per year (that means each and every year, to me).

Like you said in your earlier version of this post..... Fork it, and I say, unless you agree with my interpretation, Fork all of you!!!!!!      

YES FORK IT!
I want to see more FORKS, i want poeple to disagree with the them and get left behind, because THIS IS BITCOIN!!! Because I like to see the story unfold, and i like drama and i like  entertainment!

so i actually read the damn thing.... and i'm guessing they are loosely speaking, if the network is happy with 5MB block in a few years and there is no reason to up the limit they won't... they just want to get us use to the idea that upping the limit isn't a big deal, which it isn't!

FORK IT!
RESISTANCE IS FUTILE!
THIS IS BITCOIN!

[derpinheimer]

That fork word scares me. Can we call it something nicer, like a pony?

[Walsoraj]

That fork word scares me. Can we call it something nicer, like a pony?

Confirmed.


And how about "Ripple." Doesn't that sound nice?

[derpinheimer]

Yes! That word is powerful and inspires confidence.

We shall call it a Ripple!

[adamstgBit]

That fork word scares me. Can we call it something nicer, like a pony?

its a good word

it means progress & change through consensus, its a bullish thing!

[noobtrader]

That fork word scares me. Can we call it something nicer, like a pony?

Confirmed.


And how about "Ripple." Doesn't that sound nice?

i still like bitoni more than ripple any day any taime

[byronbb]

Looks like we are gonna roll over again.  

[ChartBuddy]

Explanation

[vuduchyld]

That fork word scares me. Can we call it something nicer, like a pony?

Confirmed.


And how about "Ripple." Doesn't that sound nice?

There is NO WAY I will EVER see or hear the word "Ripple" and NOT think about The Grateful Dead. 

[derpinheimer]

Looks like we are gonna roll over again.  

Gotta love this bumpy ride

Still no decision. Come on traders, pick one..

[adamstgBit]

[derpinheimer]

redacted

This is disturbing and very... disturbing. In appearance. It appears. Sexual.

[seleme]

some fakeout earlier.. volume, momentum, everything... baaang, gone

[adamstgBit]

[adamstgBit]

some fakeout earlier.. volume, momentum, everything... baaang, gone

its late.

[derpinheimer]

China aint happy this fine morning.