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ranlo

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Quote from: Amph on June 03, 2015, 03:18:57 AM

so we are at almost 2 tx per second(1.7 average) with this new record, it is indeed the time to move on with the tx limit, because the next spike could reach 200k easily

the chart also show perfectly, why one should not look only at the price, others indicators like this are constantly ignored, they are more tied with what will be the future of bitcoin, than anything else

Too many people are focused on price and not its utility. I'd rather the coins be worth a steady $10 each and be easily liquidated than be volatile and not be used often.

michinzx

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Quote from: NorrisK on June 03, 2015, 10:28:01 AM

Quote from: Bittings on June 03, 2015, 06:51:43 AM

Quote from: tyz on June 03, 2015, 05:57:57 AM

Quote from: el kaka22 on June 03, 2015, 05:44:52 AM

Hope that in the near future, the network can produce 2 txs per second (172800 txs per day).

This could be just an intermediate stage. If Bitcoin wants to become a real competitor as a payment processor for mainstream it must be process more Txs per seconds. For example, Visa and Mastercard process 7 txs on average. This should be the goal midterm.

I think your rate is wrong according to ECB report Mastercard processes more than 1000 tx/second and VISA process ~2500 tx/second. (Mastercard : 93578 txs/day ; VISA: 212603 txs/day)

So there are too much way for Bitcoin to reach that point. And this also requires more hashing power , more electricity and more cost for mining BTC. And this results increase in price when everything goes smoothly. I think Bitcoin is settling down. I dont care why the price of it is so low.

Unless a day has 100 seconds your tx/second or tx/day are not possible. They don't add up. Feels like the tx/sec re a bit high to me.

yeah the math doesnt even come close to adding up, maybe those are the record numbers for the highest rate of transactions per second? the transactions/day does seem alright though.

NorrisK

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Quote from: Bittings on June 03, 2015, 06:51:43 AM

Quote from: tyz on June 03, 2015, 05:57:57 AM

Quote from: el kaka22 on June 03, 2015, 05:44:52 AM

Hope that in the near future, the network can produce 2 txs per second (172800 txs per day).

This could be just an intermediate stage. If Bitcoin wants to become a real competitor as a payment processor for mainstream it must be process more Txs per seconds. For example, Visa and Mastercard process 7 txs on average. This should be the goal midterm.

I think your rate is wrong according to ECB report Mastercard processes more than 1000 tx/second and VISA process ~2500 tx/second. (Mastercard : 93578 txs/day ; VISA: 212603 txs/day)

So there are too much way for Bitcoin to reach that point. And this also requires more hashing power , more electricity and more cost for mining BTC. And this results increase in price when everything goes smoothly. I think Bitcoin is settling down. I dont care why the price of it is so low.

Unless a day has 100 seconds your tx/second or tx/day are not possible. They don't add up. Feels like the tx/sec re a bit high to me.

LiteCoinGuy

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Quote from: spud21 on June 03, 2015, 05:32:16 AM

There was a group od people on reddit who stress tested the Bitcoin network by spamming it with thousands, and thousands of transactions last week. That might explain the spike on your graph. It took a long time to clear the backlog.

http://www.reddit.com/r/Bitcoin/comments/37rwph/stress_test_for_the_next_few_hours_ill_be/

think so too. you have to deleet these in your chart - no new highs.

anderson00673

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Quote from: GenTarkin on June 03, 2015, 09:33:08 AM

overall the trend is down since apr 1st, look closely.....

Good catch, that is pretty tough for me to see on that graph. Will have to wait and see if the trend continues. Usually some fluctuation is normal and nothing to worry about. Plus the trend you point out seems really quite modest so let us hope that it is not significant.

I hear more in the news all the time. I feel like there is a snowball rolling down hill right now and it is slowly turning into a monster. I just hope I have a chance to accumulate some more coin before the next price jump.

GenTarkin

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overall the trend is down since apr 1st, look closely.....

Beefcake

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Beefcake!!!

Quote from: Kakmakr on June 03, 2015, 07:01:19 AM

Why then are people second guessing the upgrades Gavin suggested?
Last time I checked, we were averaging 100 000 transactions... The stress testing is @#%king with the stats. ^hmf^
At this stage, I cannot see how we would be able to go mainstream with protocol as it is now.

The vast majority of people I see posting in these forums either support Gavin's proposal, or they suggest an alternative. I also see a few noob accounts that post nothing but FUD threads, some of them self moderated. It is pretty obvious that there are fake accounts likely controlled by the same person or group of people with the specific goal of spreadin fud.

But it seems to me that even those who disagree with Gavin are discussing alternative, not spouting nonsense.

For the topic, this is a good development. I think that if there was more local access to bitcoins then it would spread even faster. Localbitcoins.com is a good start but the prices there tend to be pretty high. It is not unusual to see a 10% mark up on the cost. I think this is a deterrent for the average person.

LFC_Bitcoin

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#1 VIP Crypto Casino

Transactions & infrastructure are increasing, let's hope that the price of bitcoin follows the trend.
There's too much doom & gloom around at the moment, bitcoin is still in its infancy, we are still in the early days of our development.
The think the future is incredibly positive & I predict great things for bitcoin.
I predict that in 10 years we'll laugh at the negativity & doubts that were present.

Kakmakr

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Leading Crypto Sports Betting & Casino Platform

Why then are people second guessing the upgrades Gavin suggested?
Last time I checked, we were averaging 100 000 transactions... The stress testing is @#%king with the stats. ^hmf^
At this stage, I cannot see how we would be able to go mainstream with protocol as it is now.

Yeezus

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Quote from: subSTRATA on June 03, 2015, 05:23:20 AM

Quote from: Amph on June 03, 2015, 03:18:57 AM

so we are at almost 2 tx per second(1.7 average) with this new record, it is indeed the time to move on with the tx limit, because the next spike could reach 200k easily

the chart also show perfectly, why one should not look only at the price, others indicators like this are constantly ignored, they are more tied with what will be the future of bitcoin, than anything else

at the same time, it really shows the growth of bitcoin with the constantly increasing number of transactions; all this "bitcoin is dead" FUD is just nonsense.

Of course it is nonsense. The only people who proclaim it is dead is trolls who like to spread fud. They never back it up with any facts or figures just fud. If it was dead they wouldn't even be here and neither would we.

Bittings

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Quote from: tyz on June 03, 2015, 05:57:57 AM

Quote from: el kaka22 on June 03, 2015, 05:44:52 AM

Hope that in the near future, the network can produce 2 txs per second (172800 txs per day).

This could be just an intermediate stage. If Bitcoin wants to become a real competitor as a payment processor for mainstream it must be process more Txs per seconds. For example, Visa and Mastercard process 7 txs on average. This should be the goal midterm.

I think your rate is wrong according to ECB report Mastercard processes more than 1000 tx/second and VISA process ~2500 tx/second. (Mastercard : 93578 txs/day ; VISA: 212603 txs/day)

So there are too much way for Bitcoin to reach that point. And this also requires more hashing power , more electricity and more cost for mining BTC. And this results increase in price when everything goes smoothly. I think Bitcoin is settling down. I dont care why the price of it is so low.

findftp

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Delusional crypto obsessionist

Quote from: spud21 on June 03, 2015, 05:32:16 AM

There was a group od people on reddit who stress tested the Bitcoin network by spamming it with thousands, and thousands of transactions last week. That might explain the spike on your graph. It took a long time to clear the backlog.

http://www.reddit.com/r/Bitcoin/comments/37rwph/stress_test_for_the_next_few_hours_ill_be/

I want to see more of this.
Stress the shit out of bitcoin.
Please, give it all you can.

It's like an engine maxing out on it's RPM for hours and is still running perfectly fine afterwards.

tyz

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Quote from: el kaka22 on June 03, 2015, 05:44:52 AM

Hope that in the near future, the network can produce 2 txs per second (172800 txs per day).

This could be just an intermediate stage. If Bitcoin wants to become a real competitor as a payment processor for mainstream it must be process more Txs per seconds. For example, Visa and Mastercard process 7 txs on average. This should be the goal midterm.

el kaka22

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152.8K transactions... That's why the size of the blockchain is climbing very fast now. So that's why there are many people don't use the PC wallet now (like me) and finding alternative clients. However this is an achievement for bitcoin. Hope that in the near future, the network can produce 2 txs per second (172800 txs per day).

Lauda

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Terminated.

Quote from: spud21 on June 03, 2015, 05:32:16 AM

There was a group od people on reddit who stress tested the Bitcoin network by spamming it with thousands, and thousands of transactions last week. That might explain the spike on your graph. It took a long time to clear the backlog.

http://www.reddit.com/r/Bitcoin/comments/37rwph/stress_test_for_the_next_few_hours_ill_be/

Was this the one after a failed attempt? I know that there was one recently but they couldn't get enough transactions at all.
Even if we disregard all of this the graph still shows growth over time. This is one of the reasons why the developers need to decide what is going to be done with Bitcoin.

I'm pretty sure that a spike (like the one in 2013) would create thousands of backlogged transactions.

spud21

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There was a group od people on reddit who stress tested the Bitcoin network by spamming it with thousands, and thousands of transactions last week. That might explain the spike on your graph. It took a long time to clear the backlog.

http://www.reddit.com/r/Bitcoin/comments/37rwph/stress_test_for_the_next_few_hours_ill_be/

subSTRATA

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:^)

Quote from: Amph on June 03, 2015, 03:18:57 AM

so we are at almost 2 tx per second(1.7 average) with this new record, it is indeed the time to move on with the tx limit, because the next spike could reach 200k easily

the chart also show perfectly, why one should not look only at the price, others indicators like this are constantly ignored, they are more tied with what will be the future of bitcoin, than anything else

at the same time, it really shows the growth of bitcoin with the constantly increasing number of transactions; all this "bitcoin is dead" FUD is just nonsense.

Amph

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Activity: 3248

Merit: 1070

so we are at almost 2 tx per second(1.7 average) with this new record, it is indeed the time to move on with the tx limit, because the next spike could reach 200k easily

the chart also show perfectly, why one should not look only at the price, others indicators like this are constantly ignored, they are more tied with what will be the future of bitcoin, than anything else

turtlehurricane

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