Analysis

[sandiman]

You'll never see 1000+ unless the artificial tps limit is lifted.

That is a bold statement. Quoted for posterity.

Let me add another statement:

We'll see 1000+ almost instantly (let's say 3 weeks) once the tps limit is lifted substantially.

Fine, though yours is harder to verify. What if the price is already over 1000 when the limit is lifted? What does 'substantially' mean? Et cetera...

I always thought (and still do) that things like price, adoption and tps rate are only loosely (and sometimes even counter-intuitively) correlated, that is why I call these statements bold. Overly simplistic view.

who cares about your though on correlation ? give us the number, their not that hard to do (and probably already on internet, don't be that lazy when it's about money  )

"Thought" in this context actually means I had argued about it (likely even here on this forum). I'm out of this blocksize/tps debate for a long time now, and I'd rather leave it that way.

After all, you requesting the number is the one lazy here

There's a funny chart I once posted when Peter tRoll (or someone else) claimed 92% correlation between Bitcoin price and tx rate.


I wonder how Bitcoin even managed to break 1000 with 200Kb average blocksize! Must've been Willybot

Jokes aside, the long-term correlation is now higher, which can be seen clearly.
https://tradeblock.com/bitcoin/historical/1w-p-blksize_per_tot-01071-tps-01071

But you can notice that Bitcoin has approached its practical tps limit in March 2016, and has been staying at it ever since, managing to process some 15% more tps, yet the price has risen from 400+ to 600+ which is a 50% increase.

Cheers for the graph, i'll try to get regression figures from that same data soon.

here is the most interesting correlation :

[1714127845]

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[Denker]

Yes Bitcoin and Metcalfe's value is one of the most interesting charts for me.
There had been a strong a correlation in the past between these two.
Right now Bitcoin's price would be highly undervalued!Let's hope for an upwards correction!

[zimmah]

Yes Bitcoin and Metcalfe's value is one of the most interesting charts for me.
There had been a strong a correlation in the past between these two.
Right now Bitcoin's price would be highly undervalued!Let's hope for an upwards correction!

watch what happened when there is no more FUD about the blocksize.   

You'll see the bitcoin price correct itself in no time at all.

Thousands, if not millions of people have been watching at the sidelines for the debate to be resolved, but dare not invest in bitcoin while the future is uncertain.

As much as I dislike investing in alts, even I am tempted to switch over to alts, because right now, alts actually seem saver than bitcoin.

[Bimmerhead]

PEOPLE PLEASE - this is Masterluc's T/A thread, let's not clutter it up.

[ImI]

lets see if we see that announced turnaround and subsequent transition into a triangle at $720

[BldSwtTrs]

Master, we need you. Help us to see the light.

[molecular]

Help us to see the light.

he did:

Repeat half year old post ($230). Price is in safe multi year buy zone.

just keep buying, you'll see the light

[BldSwtTrs]

Help us to see the light.

he did:

Repeat half year old post ($230). Price is in safe multi year buy zone.

just keep buying, you'll see the light

I cannot not buy all my money is already in 

[meh32123]

Well it seems that the predicted triangle is broken?

[zby]

Well it seems that the predicted triangle is broken?

There was no triangle.

[lebing]

there is a strong resistance point (5184 yuan) approaching shortly so be careful with buying right now.

[molecular]

there is a strong resistance point (5184 yuan) approaching shortly so be careful with buying right now.

It's November. Resistance is futile

EDIT: joke aside: that point would be a good opportunity to draw a handle to the cup starting mid-June. If that subsequently played out we could do the same again at ATH for the 3 year cup and then blow all expectations to shreds. Timeframe: xmas would be good, no?

EDIT2: It would also confirm my wild speculation that a halfing starts to take effect (the effect being a epic rally) with a ~ 3 month delay (like last time in January '13). Of course now everybody already forgot the halfing event and will attribute a rally to something else (also like last time). I frankly don't care

[sandiman]

there is a strong resistance point (5184 yuan) approaching shortly so be careful with buying right now.

It's November. Resistance is futile

EDIT: joke aside: that point would be a good opportunity to draw a handle to the cup starting mid-June. If that subsequently played out we could do the same again at ATH for the 3 year cup and then blow all expectations to shreds. Timeframe: xmas would be good, no?

EDIT2: It would also confirm my wild speculation that a halfing starts to take effect (the effect being a epic rally) with a ~ 3 month delay (like last time in January '13). Of course now everybody already forgot the halfing event and will attribute a rally to something else. I frankly don't care

Keeping a close look at that potential Cup and handle forming as you mentionned!

[lebing]

there is a strong resistance point (5184 yuan) approaching shortly so be careful with buying right now.

It's November. Resistance is futile

EDIT: joke aside: that point would be a good opportunity to draw a handle to the cup starting mid-June. If that subsequently played out we could do the same again at ATH for the 3 year cup and then blow all expectations to shreds. Timeframe: xmas would be good, no?

EDIT2: It would also confirm my wild speculation that a halfing starts to take effect (the effect being a epic rally) with a ~ 3 month delay (like last time in January '13). Of course now everybody already forgot the halfing event and will attribute a rally to something else (also like last time). I frankly don't care

Yup that is quite likely, good call.

If that confirms, the ATH is not far away so that will be interesting.

[wpalczynski]

According to MasterLuc this is where we stop and bleed off to approx 580 in early January.  He's been right so many times, if Bitcoin does this Ill be blown away.

[marcus_of_augustus]

Triangles always get broken ... it's just now or later?

[wpalczynski]

Triangles always get broken ... it's just now or later?

That high on the graph was about 730-740 on stamp, we hit 744.  What comes next, Moon or Doom?

[sickpig]

According to MasterLuc this is where we stop and bleed off to approx 580 in early January.  He's been right so many times, if Bitcoin does this Ill be blown away.

so it seems he's right again. We topped at 744 as the img above indicate. The estimate precision on both axis (time and value) is indeed mind blowing.

[molecular]

According to MasterLuc this is where we stop and bleed off to approx 580 in early January.  He's been right so many times, if Bitcoin does this Ill be blown away.

so it seems he's right again. We topped at 744 as the img above indicate. The estimate precision on both axis (time and value) is indeed mind blowing.

Current correction is not sizable enough: according to posted graph, we'd have first to go down to ~650 now pretty promptly, then slowly back up to 700 somewhere mid-December and after that "bleed to 580 in Jan".

Maybe we shouldn't attribute too much precision to those lines. But who knows. Materluc has been astonishingly correct many times in the past, so I wouldn't be surprised if it played out exactly like that.

[600watt]

According to MasterLuc this is where we stop and bleed off to approx 580 in early January.  He's been right so many times, if Bitcoin does this Ill be blown away.

so it seems he's right again. We topped at 744 as the img above indicate. The estimate precision on both axis (time and value) is indeed mind blowing.

Current correction is not sizable enough: according to posted graph, we'd have first to go down to ~650 now pretty promptly, then slowly back up to 700 somewhere mid-December and after that "bleed to 580 in Jan".

Maybe we shouldn't attribute too much precision to those lines. But who knows. Materluc has been astonishingly correct many times in the past, so I wouldn't be surprised if it played out exactly like that.

lol, it is 683 now...

edit: 680