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Author Topic: If BTC really survives over the next days...  (Read 5698 times)
TheWallStreetCrew
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May 19, 2017, 05:10:31 PM
 #61

I can say that in the off chance that bitcoins leadership starts to slip, it would probable happen fast because over a short period of time once it crosses the point of no return. That's said it wont die there are way too many die hard supporters.

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May 19, 2017, 05:46:10 PM
 #62

New ATH: >1.900 USD

 Wink

Guess it's proven to the OP already because we are a little short of the dream $2000. A weebit more and then we head for 2k+



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May 19, 2017, 06:53:59 PM
 #63

Bitcoin is indeed the king of crypto currencies ever since and up until now. Days will not suffice to make bitcoin down on its knees. Bitcoin has been around for years now and it has proven its strength despite of all the issues it encountered and currently dealing with. Bitcoin's price might drop but it will take more than that to stop bitcoin. Transaction confirmation may be too long but it is not enough to turn people away from bitcoin. Surely, as the people demands for bitcoin, developers will compromise and resolve these issues.

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May 19, 2017, 09:00:27 PM
 #64

New ATH: >1.900 USD

 Wink

Guess it's proven to the OP already because we are a little short of the dream $2000. A weebit more and then we head for 2k+

Even if the price evolves beyond that point, there is no way of predicting what the new bottom is
Baofeng
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May 19, 2017, 09:10:55 PM
 #65

...it will prove it's the king of crypto

What proof do you really need to see that bitcoin is already the king of crypto world? $3000? $5000 price? I think bitcoin has nothing to prove anymore. Accumulating it as investment or store of value more than any altcoins makes it the most trusted crypto right now.

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May 19, 2017, 09:21:20 PM
 #66

bitcoin is already the king of crypto world?

Be aware, that quite a number of kings have been decapitated when they failed to do their job properly.

Thanks for the brilliant analogy!
iluvpie60
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May 19, 2017, 09:24:57 PM
 #67

Why wouldn't it survive over the next few days? I don't understand why you ask that???

Of course it is going to survive lol. Just because bitcoin leadership is slipping and getting chaotic doesn't mean much. Eventually they will have to cave in to what the community wants.

   
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May 19, 2017, 09:33:02 PM
 #68

Why wouldn't it survive, am i missing something?

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May 19, 2017, 09:42:55 PM
 #69

Why wouldn't it survive, am i missing something?
Yes, you are missing a lot. With current 1 MB blocks we estimate that Bitcoin network has around 120 days left before the memory pool will increase infinitely.
We need to have scaling solution ASAP to prevent situation like this. The best way IMO is to pick the best technology: SegWit which is far superior (allows off-chain solution) and safer than BU.
I think it's about time... if we will wait more, it can be too late.


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dejavvu
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May 19, 2017, 09:47:34 PM
 #70

Why wouldn't it survive, am i missing something?
Yes, you are missing a lot. With current 1 MB blocks we estimate that Bitcoin network has around 120 days left before the memory pool will increase infinitely.
We need to have scaling solution ASAP to prevent situation like this. The best way IMO is to pick the best technology: SegWit which is far superior (allows off-chain solution) and safer than BU.
I think it's about time... if we will wait more, it can be too late.

No, I'm not. Stop with these dooms day scenarios. Everybody knows what is going on and something will be done.

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May 19, 2017, 09:54:31 PM
 #71

Why wouldn't it survive, am i missing something?
Yes, you are missing a lot. With current 1 MB blocks we estimate that Bitcoin network has around 120 days left before the memory pool will increase infinitely.
We need to have scaling solution ASAP to prevent situation like this. The best way IMO is to pick the best technology: SegWit which is far superior (allows off-chain solution) and safer than BU.
I think it's about time... if we will wait more, it can be too late.

No, I'm not. Stop with these dooms day scenarios. Everybody knows what is going on and something will be done.
I merely stated the fact. This is no doomsday scenario nor FUD. Something needs to be done fast - and this is what we all need and wait for.
Actually, I think that increasing number of unconfirmed transactions is a good thing - under pressure miners will be more prone to act and find scaling consensus already.


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dejavvu
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May 19, 2017, 10:05:16 PM
 #72

Why wouldn't it survive, am i missing something?
Yes, you are missing a lot. With current 1 MB blocks we estimate that Bitcoin network has around 120 days left before the memory pool will increase infinitely.
We need to have scaling solution ASAP to prevent situation like this. The best way IMO is to pick the best technology: SegWit which is far superior (allows off-chain solution) and safer than BU.
I think it's about time... if we will wait more, it can be too late.

No, I'm not. Stop with these dooms day scenarios. Everybody knows what is going on and something will be done.
I merely stated the fact. This is no doomsday scenario nor FUD. Something needs to be done fast - and this is what we all need and wait for.
Actually, I think that increasing number of unconfirmed transactions is a good thing - under pressure miners will be more prone to act and find scaling consensus already.

Look I'm not single-handedly calling you out. I meant in general. We have been going over these scenarios since the inception of BTC. I get it, people love drama, tension and all but a lot happened since then. MTGox, Silkroad, ETH hack whatever. Where we are now is that BTC is too big to fall. That does not mean It can't ever fall but it won't fall easily and even if it does what really is the problem. The idea will stay. We are now living in a world where we need crypto some way or another. Some solutions will always come up be it BTC related or not. In BTC's case i'm sure they will come to an agreement sooner than later.

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epitome
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May 19, 2017, 11:06:53 PM
 #73

How much more rally are we going to see with bitcoin,i would like to see the price crossing $2000 with this rally and it looks like all the alts are moving up and ETH is having a good rally right now and it could also break new price records on its way as i expect a good return in a weeks  time.
classicsucks
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May 20, 2017, 04:03:28 PM
 #74

Why wouldn't it survive, am i missing something?
Yes, you are missing a lot. With current 1 MB blocks we estimate that Bitcoin network has around 120 days left before the memory pool will increase infinitely.
We need to have scaling solution ASAP to prevent situation like this. The best way IMO is to pick the best technology: SegWit which is far superior (allows off-chain solution) and safer than BU.
I think it's about time... if we will wait more, it can be too late.

No, I'm not. Stop with these dooms day scenarios. Everybody knows what is going on and something will be done.
I merely stated the fact. This is no doomsday scenario nor FUD. Something needs to be done fast - and this is what we all need and wait for.
Actually, I think that increasing number of unconfirmed transactions is a good thing - under pressure miners will be more prone to act and find scaling consensus already.

This is precisely the type of FUD I expect from Core-bois. Pressure to adopt Segwit "or else". And it's a logical reason Core would spam the mempool to hell.

Another solution would be to start dropping the spam transactions.
bibiqua
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May 20, 2017, 04:10:46 PM
 #75

Another solution would be to start dropping the spam transactions.

Please enlighten us with some evidence that it's spam transactions what's filling up the mempool.

Eplain: Almost all of the lagging transactions from the last two weeks are backed with >120 Sat/B fee. Who's going to afford this expensive Spam?

classicsucks
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May 20, 2017, 04:24:46 PM
 #76

Another solution would be to start dropping the spam transactions.

Please enlighten us with some evidence that it's spam transactions what's filling up the mempool.

Eplain: Almost all of the lagging transactions from the last two weeks are backed with >120 Sat/B fee. Who's going to afford this expensive Spam?



For spam, you could try the forum search function to find the 10+ threads discussing, but this should get you started:

https://blockchain.info/address/3QQB6AWxaga6wTs6Xwq8FYppgrGinGu15f

The person holding lots of coin can afford the fees to spam, because the price keeps going up. BTW that's another plausible explanation of the spam, exchanges and whales using up blockspace to buy coins from themselves repeatedly, driving prices up.

Mike Mayor
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May 20, 2017, 04:53:05 PM
 #77

What are you talking about ? It already is the crypto King it is the original crypto currency. Though the fees are getting insane man like $1 per transaction or you wait forever or you don't get it sent at all. A bit annoying. But still I love Bitcoin and it is here to stay for many many more years to come. It will find a solution soon. For now I use altcoins for smaller transfers. Only lsrge Ines will I use bitcoin. Maybe this is the reason doge has done so well lately.

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May 20, 2017, 05:20:28 PM
 #78

For spam, you could try the forum search function to find the 10+ threads discussing, but this should get you started:
https://blockchain.info/address/3QQB6AWxaga6wTs6Xwq8FYppgrGinGu15f[/url]

I've been watching the unconfirmed transactions coming in at blockchain.info myself and yes, I've noticed occasional transactions like this one as well. Occasional, not overwhelming. DoS looks different.

For instance, please show the impact of this "Spam" in the graph:

https://jochen-hoenicke.de/queue/#2d

If this spam was of any importance, the green line on the bottom of the graph would increase like hell. Actually, it's even shrinking.

Spam Myth disspelled so far.
Zicadis
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May 20, 2017, 06:02:11 PM
 #79

One of reasons why bitcoin will keep surviving what ever is thrown at it is because all altcoin holders dump what they have in preference of bitcoin
killing the alt slowly and breathing new life into bitcoin

Another solution would be to start dropping the spam transactions.

Please enlighten us with some evidence that it's spam transactions what's filling up the mempool.

Eplain: Almost all of the lagging transactions from the last two weeks are backed with >120 Sat/B fee. Who's going to afford this expensive Spam?



For spam, you could try the forum search function to find the 10+ threads discussing, but this should get you started:

https://blockchain.info/address/3QQB6AWxaga6wTs6Xwq8FYppgrGinGu15f

The person holding lots of coin can afford the fees to spam, because the price keeps going up. BTW that's another plausible explanation of the spam, exchanges and whales using up blockspace to buy coins from themselves repeatedly, driving prices up.



in a way this could actually work maybe exchangers need to dish out some warning on this Roll Eyes or that is also a way for them to generate revenue but if it drives prices up maybe we need to be on the look out for a dump....

and do you mean to say this is an artificial price We currently seeing

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Rinder
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May 20, 2017, 06:55:05 PM
 #80

Bitcoin can loose the market cap value for a while, but remember all coins are traded against bitcoin, and most exchanges just let you buy bitcoin and any other altcoin directly, just a few exchanges allow you to buy with usd/eur some altcoins. Once bitcoin solve the transactions issue you will see a lot money returning back to bitcoin.


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